Archives--June 20, 2000
"The List"

The original list was put together at the request of Jerry Bishop of First Federal Leasing, who had heard of a list floating around, and wanted it for an important meeting with his bank board. I found it, revised it, and have been tweaking it ever since.

Here it is with a name change, and in alphabetical order. Any corrections, additions, or comments are appreciated.

33 Leasing Companies Major Changes in the last Six Months:

American Business Leasing (gone)
Bankvest (bankrupt)
Bombadier (reported having problems, not confirmed)
C&W Leasing (bankrupt)
Charter Financial (purchased by Wells Fargo)
Commerce Security (closed)
Copelco (sold to Citibank)
Dana (sold off, active as captive)
DVI Capital (out of broker)
Fidelity (acquired by ABN Amro Bank)
Finova (out of market place)
Franklin Bank (no more leases)
Imperial (sold portfolio)
Leasing Corp of America (for sale below book value)
Leasing Solutions (bankrupt)
Liberty Leasing (closed)
Linc Capital (out of vendor and broker business, Nasdaq halts stock sales)
Merit Leasing (gone)
METWEST LEASING CO. Spokane WA. (advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding.)
NationsBank Leasing (closed)
New England Capital (sold)
Newcourt (sold off)
Phoenix (both divisions)
Prime Capital ("yes and no" sold off, may be negotiating)
Rockford (sold to American Express)
SDI (closed)
T&W (lost their capital)
Transamerica (sold)
Unicapital (reportedly struggling)
United Capital (reported having problems, very bad quarter)
United Leasing (out of liquidity)
USA Leasing (gone)
VGM (out of business)

Today
Alphabetical Order
http://www.leasingnews.org/list_alpha_new.htm

 

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"The List"—May, 2013
--- Mergers, Acquisitions & Changes
"The Good, the Bad and the Ugly"--

Sterling Finance, Spokane, Washington (05/13) Purchases Commerce National Bank, Newport Beach, California; leasing division now has opportunity to expand with well capitalized major bank.
http://leasingnews.org/archives/Apr2013/4_29.htm#sterling

Newport Financial Partners, Newport Beach, California (05/13)
Bulletin Board Complaint victim collects his money after two year chase.
Apr2013/4_29.htm#newport_financial_complain
http://leasingnews.org/archives/May2013/5_06.htm#newport_complaint

Balboa Capital, Irvine, California (05/13) Bulletin Board Complaint #12; decisive!
archives/May2013/5_13.htm#balboa_capital_complaint

Western Equipment Finance, Devils Lake, North Dakota (05/13 parent Western State Bank, Devils Lake, North Dakota takes over Central Arizona Bank, Scottsdale, Arizona; may be expanding leasing and finance operation as has facility in Arizona
http://leasingnews.org/archives/May2013/5_15.htm#wef

Balboa Capital, Irvine, California (05/13) Tagged for stealing
corporate secrets. Settles suit with MicroFinancial regarding officers enticing employee to bring lists and protected information.
http://leasingnews.org/Pages/balboa_stealing.html

Element Financial, Toronto, Canada (05/13) Sued by De Lage Landen for ex-employees allegedly stealing lists and information.
http://leasingnews.org/archives/May2013/5_28.htm#stealing_secrets

Chronological Order
http://www.leasingnews.org/list_chron_new.htm

Classified Ads---Legal

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

San Diego , CA  Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate. Cell Phone: 760-533-4058; Email:marshallrosenberg@gmail.com | Resume

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

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

 

• Contract Negotiations • Fraud Investigations  • Credit Investigations • Skip-tracing  • Third-party Commercial Collections John Kenny  Receivables Management For flat fee or commissions basis  john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

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Top auto lenders largely in neutral in Q1
By David Hayes and Tyler Hall, SNL Financial

Auto loans at the U.S.'s largest depository auto lenders took what could be likened to a caution lap in the first quarter. Total auto loans at the top 100 increased by only 0.64% over the fourth quarter of 2012, and the top 16 lenders remained in the exact same order as a quarter earlier. These 100 institutions held $395.33 billion in auto loans at March 31, compared to $392.80 billion at year-end 2012.

First-place Ally Financial Inc. saw its auto loans fall by 6.73% in the first quarter yet still boasted more than $13 billion more auto loans than any other U.S. depository. Ally's auto loans fell to $60.41 billion at the end of the first quarter, down from $64.77 billion at year-end 2012 and $61.22 billion in the year-ago quarter. However, Ally's auto loans past due or in nonaccrual status fell to 2.14% at quarter-end from 2.36% at the end of last year, but that was an increase from 1.48% in the year-ago quarter.

The auto loan giant completed the sale of its Canadian auto finance operations to Toronto-based Royal Bank of Canada earlier this year. On June 3, Ally announced that it had completed the sale of its European operations, mostly in France, to General Motors Financial Co. Inc. Ally's sale of its operations in Germany, the United Kingdom, Austria, Italy, Switzerland, Sweden, Belgium, the Netherlands, Mexico, Chile and Columbia was completed earlier, according to an April 2 press release.

Capital One Financial Corp. extended its lead over fifth-place Bank of America Corp., a quarter after overtaking BofA. Capital One managed to grow its auto loans by 3.01% over the fourth quarter of 2012 and 18.55% over the year-ago quarter. The company's past-due and nonaccrual loans shrank significantly in the first quarter, accounting for only 5.93% of total loans compared to 7.56% at year-end 2012.

BB&T Corp. grew its auto loans by 3.50% in the first quarter to $9.33 billion, compared to $9.02 billion in the fourth quarter of 2012. During the company's first-quarter earnings conference call, Kelly King, BB&T's chairman and CEO, noted that auto demand had improved significantly and that the company expects double-digit growth in the second quarter. Clarke Starnes, the company's chief risk officer, mentioned that while BB&T is not deviating from its underwriting, it is seeing other competitors extend terms and increase advance rates, much like what was seen in earlier credit cycles.

Navy Federal Credit Union, by far the country's largest credit union, posted $7.27 billion in auto loans at the end of the first quarter, up 5.15% from the end of 2012. Of the 100 largest depository auto lenders, 43 were banks or thrifts, while 57 were credit unions as of March 31.

 

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New Hires---Promotions

Mark A. Brandt hired as vice president, direct origination sales team, Key Equipment Finance, Superior, Colorado. He will be based in the Key Corporate Bank Dallas office, covering the Texas market as well as Oklahoma and Arkansas. “With 25 years of leasing and equipment finance experience, Mark is a strong addition to our direct sales team,” said Joe Messineo, region sales director, Key Equipment Finance. “I look forward to working with him to provide superior service to the many businesses with equipment financing needs in the greater Texas region.”

Previously Brandt was SVP, GE Capital (February, 2005-May, 2013), district manager, Citigroup (November, 2000-Feburary, 2004), district manager, Associates Commercial Corporation (February, 1999-November, 200), director, credit administration, Associates Leasing (1990-1999), credit analyst, Heller Financial-factoring (1988-1990). The University of Texas at Austin, BBA, Finance (The University of Texas at Austin BBA, Finance (1981 – 1986) www.linkedin.com/pub/mark-brandt/15/258/b18

David Drury joins Cole Taylor Equipment Services, Towson, Maryland, as group senior vice president, reporting directly to its president Edward A. Dahlka, Jr. Previously he was managing director, intermediary funding, GE Capital, Corporate Finance (June, 2001-June,2013), syndications manager, Mellon US Leasing (June, 1999-June, 2001), relationship manager, Bank of America Leasing (July, 1988-June, 1999). Duquesne University MBA Program (1989 – 1991), Penn State University, BS, Finance (1981 – 1985).
www.linkedin.com/pub/david-drury/9/936/662

Michael N. Gallina was named Executive Vice President, Lake Equipment Leasing, Inc., Millburn, New Jersey, Previously he was managing direct of business banking, First Central Savings Bank (2012-2013), chief commercial banking officer, NorthEast Community Bank (2007-2012), senior vice president, North Fork Bank (2001-2008), senior vice president, Sterling National Bank (1994-2001), banking officer, PNC Bank (1990-1993).Life, Accident & Health Insurance License, New Jersey, New York & Colorado, FINRA Series 65.Rider University, Bachelor of Science (B.S.), Finance Rider University, Master of Business Administration (M.B.A.) www.linkedin.com/pub/michael-n-gallina/7/641/89

Chris Richardson has joined Manufacturers Capital, LLC, Sanford, Florida, as Senior Vice President of Sales and Marketing. Manufacturers Capital President David Goose calls him a veteran machine tool leasing specialist. His background in sales/marketing management, as well as operational skills, makes him an excellent addition to our entrepreneurial team."

Previously Richardson was vice-president of sales & strategic initiatives, Connext financial (January, 2012-June,2013), joining the firm in 2010 as vice-president, sales & systems. Prior, he was regional vice president, MTC Equipment Finance (January, 2003-February, 2010), national finance manager, JMC Financial Services (March, 2001-January, 2003). He worked his way up from management trainee at The Associates (August, 1998-July, 1999), to credit analyst (July, 2999-May, 2000), and then to program manager, (May, 2000- March, 2001). Webster University MBA, Management, (2003 – 2005), Hanover College, BA, Business (1994 – 198). Activities and Societies: Phi Delta Theta, Football (RB)
www.linkedin.com/pub/chris-richardson/11/39/3b4

 

 

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Leasing Industry Help Wanted

Leasing Operations Coordinator Los Angeles, California 3+ years of commercial equipment leasing experience. Conduct independent evaluation of credit profile, assets and finance solutions. Lease Document preparation, Funding review, coordination and follow-up. Lease Booking, Title Processing, Insurance coordination. Bilingual Spanish a plus. More information, please click here. Well-established asset-based direct funding source for transactions $10,000 up to $250,000. www.dakotafinancial.com

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

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

Please see our Job Wanted section for possible new employees. 

 

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Loan/Lease Regulations --- Update

If you are registered by license as a broker, lender, lessor in states that require it, you do not need a city business license (in most states). Cities that require a business license, also require a business license if you work out of your residence. Many cities now are using Schedule C from tax returns, such as in San Jose, California, to catch those without a city license, and they will go back several years as well as a fine, so best to get a license now in case they check your city.

Many states require a corporate registration or state business license, such as Nevada.

While not all states require a lender's license, many require a license to accept a deposit or advance rental. And remember, a capital lease may be considered a loan as it is with the IRS in many states.

46 states do not require the lessor to notify the lessee regarding the end of the original term of the lease and can invoke an Evergreen clause, except in these states that do require notification and if not, can void the residual as well as bring on a fine or worse, depending on the number of such transactions and complaints received.

States who require notification: 
New York 
Rhode Island 
Texas 
Wisconsin 
Illinois 
(In Illinois, Consumer law, but may affect commercial, especially a proprietorship, partnership or personal guarantee)

--Christopher Menkin

---Current Regulations
(Any up-dates or additions, please send
to kitmenkin@leasingnews.org)

Arizona: All "advance fee loan brokers" must register annually with the state. Includes "commitment fees." Stiff penalty and on line form for a complaint for the state to investigate. Arizona Revised Statutes, sec. 06-1303-1310 (1996)
Registration process: http://www.azdfi.gov/Licensing/Licensing-FinServ/ALB/ALB.html

Arkansas: All brokers of "a loan of money, a credit card or a line of credit" may not assess or collect an advance fee. In addition, all brokers must register with the Securities Commissioner, post a surety bond of $25.000 and have a net worth of $25,000.
Arkansas Code Annotate sec. 23-39-401 (1995)

California: "In addition to the lending authority provided by the law, the California Finance Lenders Law provides limited brokering authority. A "broker" is defined in the law as "any person engaged in the business of negotiating or performing any act as broker in connection with loans*made by a finance lender." Brokers licensed under this law may only broker loans to lenders that hold a California Finance Lenders license." 
http://www.corp.ca.gov/Laws/Finance_Lenders/Default.asp 
(*any transaction that is not a true rent or meets the accounting and tax rules or is re-sold as a loan or discount or has a nominal purchase option is considered under this nomenclature. ) (2)

Florida: Brokers of a "loan of money, a credit card, line of credit or related guarantee, enhancement or collateral of any nature" may not assess or collect an advance fee. 
Florida Statues, Chapter 687.14 (1992)

Georgia: A broker of "loans of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee unless such fee is for "actual services necessary to apply for the loan." Official Code of Georgia Annotated, sec. 7- 7-1 (1992)

Idaho: No fee may be collected unless a loan is actually made. 
Idaho Code, sec. 26-2501 (1992) Illinois: Code, 815 ILCS 175/15-5.03 Under the Act, a" loan broker" means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a) 
Specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to "the" person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate. "In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or evoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorney’s fees." This appears as standard language on most states.

Idaho: No fee may be collected unless a loan is actually made. 
Idaho Code, sec. 26-2501 (1992)

Illinois: Code, 815 ILCS 175/15-5.03 Under the Act, a" loan broker" means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a) specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to "the" person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate. "In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or revoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorneys’ fees." This appears as standard language on most states.

Iowa: A broker of loans of "money or property" may not assess or collect an advance fee except for a "bona fide third-party fee" and a broker must obtain a bond or establish a trust account and file required documents with the Commissioner or Insurance.
Iowa Code, sec. 535C (19920)

Kansas : Broker is not exempt. Discounter or Lessor is exempt: " 'Creditor' means any person to whom a loan is initially payable on the face of the note or contract evidencing the loan" is exempt. Anyone who earns a fee or accept a deposit, except a bank, financial institution, discounter or lessor, must be registered.
http://www.securities.state.ks.us/rules/loan.rtf

Kentucky: Brokers of "a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee. 
Kentucky Revised Statutes Annotated, sec. 367.380 (1992)

Louisiana: A broker of loans of "money or property…whether such agreement is styled as a loan, a lease or otherwise" must obtain a surety bond or establish a trust account in the amount of $25,000. A broker may not collect an advance fee but may collect an "advance expense deposit for commercial loans" only for actual expenses incurred in obtaining the loan. Louisiana Revised Statutes Annotated, sec. 9:3574 (1993); Louisiana Revised Statutes Annotated, Sec. 51:1910 (1992)

Maine: No license required: "the regulation of commercial loan brokers does not fall under the jurisdiction of the Maine Bureau of Consumer Credit Protection. Transactions involving two businesses are legal/contractual in nature. Therefore, disputes involving a commercial loan between a business and commercial loan provider or broker must be settled in the court system."
http://www.maine.gov/pfr/consumercredit/faqs/loan_broker_faq.htm#j

Mississippi: A broker or loans of money may not assess or collect an advance fee and can be fined up to $5,000 for each violation. Mississippi Code Annotated, sec. 81-19-17 (1997)

Missouri: A broker of loans of "money or property" may not assess or collect an advance fee. Missouri Revised Statues, sec. 367 300 (19920

Nebraska: A broker of loans of money may not assess or collect an advance fee. Nebraska Revised Statutes, sec. 45-189 (1993)

New Jersey: Brokers of "loans of money" may not assess or collect an advance fee. 
New Jersey Rev. Statutes, sec. 17:10B (1992)

New Mexico: New Mexico currently requires Brokers/Lessors to register for Licensing under the NM Mortgage loan Company or Loan Broker Act with the Financial Institutions Division of the State of New Mexico. Banks with Brick and Mortar within the State of New Mexico are exempt. Prior to licensing applicants must submit the Following: 
Articles of Incorporation 
Listing of all principals (including management) 
A full financial Package (to meet their minimum requirements of liquidity) 
Personal financial statements on all principals 
Disclosure of all current or past suits (civil or criminal) 
Attach a corporate surety bond 
Include a $400.00 registration fee renewable yearly

North Carolina: A broker of "loans of money or property…whether such agreement is styled as a loan, a lease or otherwise" must obtain a surety bond or establish a trust account in the amount of $25,000 and obtain a license. North Carolina General Statutes, sec. 66-106 (1992)

North Dakota: Brokers may not accept an advance fee unless the broker is licensed. North Dakota Century Code, 13-04. 1-09.1 (1993) Ohio: Department of Commerce, Division of Financial Institutions

(Certificate to engage in the business of a credit services organization in accordance with the provisions of Sections 4712.01 to 4712.14 of the revised code of Ohio, subject to all the provisions thereof and to the regulations of the division.) Ohio Department of Taxation requires a "Vendor's License" under provision 5739.17 of the Revised Code (...is hereby authorized to sell tangible personal property and selected services at the retail location specified below.) This also makes the lessor responsible for all taxes with penalties for not doing so.

South Carolina: A broker of "a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee. South Carolina Code Annotated, sec. 34-36-10 91992)

South Dakota: Money Lending License
Required for individuals or corporations to engage in the business of lending money, including creating and holding or purchasing and acquiring any installment loan ("Capital Lease" or EFA), single pay loan, or open-end loan which may be unsecured or secured by personal property. Requires filing a surety bond application. State and national banks, bank holding companies, other federally insured financial institutions, and the subsidiaries of those institutions are exempt from licensure. In addition, SD chartered trust companies are exempt from licensure. Any individual or corporation holding this license is required to pay the bank franchise tax. 
Duration: 1 year 
Cost: Application $600

Vermont: Commercial Loans
Commercial loan license would apply to EFA and "Capital Leases." Exemptions include transactions over $1 million, and brokers who do not engage in transactions more than $50,000 in one year at rates not exceeding 12 percent per annum.

California Law

From Tom McCurnin, Attorney, Barton, Klugman & Oetting:

I'd like to clarify this:

1. First the definition of a "broker" under the Financial Lender's Law is not what you and I consider to be a broker. A broker in leasing often includes someone who writes the lease as a lessor and immediately assigns it to the real lender in a table funding deal. Under the Financial Lenders Law, a broker is only someone who negotiates it or assists in the financing, and who is not the actual lessor. If that "broker" was a lessor, he or she would have to be licensed as a Finance Lender. Indeed, if one was licensed as a broker and actually was a lessor, one wonders whether it would have to assign the lease only to a licensed lender. I advise lessor brokers to be licensed as a lender, not a broker.

2. Finance Lenders may assign to anyone, not merely other Financial Lenders. Servicers, for example, do not have to be licensed.

3. There is no definition in the Financial Lenders Law as to what a "true lease" is. Presumably, the Department of Corporations would have to use the Uniform Commercial Code 1-201(37) [e.g., no nominal consideration for residual and 10% put is not nominal] but nowhere is that defined.

(In a response to a question, Tom added :)

If the "broker" is not in the paper trail, e.g., not a lessor (and just negotiating the deal and not a lessor), than yes, the leasing company accepting the paper must be licensed.

If the "broker" is an actual lessor, and is licensed it can assign to anyone to service. e.g., any licensed finance lender can assign to another lender, who does not have to be licensed. The entity originating the deal must be licensed; others downstream do not have to be licensed, as long as the first in the chain is licensed.

California Finance Lenders Law:
http://www.leasingnews.org/Conscious-Top%20Stories/cal_license.htm

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

Farm lending on long march upward --concerns emerge
By Harish Mali and Kevin Dobbs, SNL Financial

Community banks based in rural areas or that emphasize agricultural lending have been among those to benefit the most.

Farm country continues to produce riches for the nation's community banks, particularly those doing business in crop-rich swaths of the Midwest, an SNL Financial analysis found.

Total farm loans tapered off some in the first quarter of this year — due to seasonality, the first quarter is typically a slow one in the sector — but over the last six years such credits have steadily climbed, thanks to robust agricultural earnings and rising land values, which have provided farmers with handsome levels of equity and made it easier for them to secure credit in order to invest in new equipment and more land.

"We've had a nice long and positive run," John Blanchfield, senior vice president of the American Bankers Association's Center for Agriculture and Rural Banking, told SNL in a recent interview.

Blanchfield noted that the ABA's annual Farm Bank Performance Report showed that more than 95% of farm banks — those focused largely on the agriculture sector — were profitable in 2012, with 67% reporting earnings increases.

SNL data show that loans secured by agricultural land rose to roughly $72 billion at the end of 2012, a 38% increase from the close of 2006, and such loans grew at a rate of 6.28% last year.

And despite the first-quarter slowdown nationally, banks in many pockets of the country grew loans during the period when compared with a year earlier, with notable strength in the Midwest and advancements in Texas and parts of the West.

But there are some concerns in farm country. Blanchfield said regulators are increasingly mindful of a possible land-price bubble forming in many areas, as prices have steadily climbed for several years, not unlike home prices boomed in the 2000s before collapsing late in the decade and causing wide-ranging woe for both lenders and their customers.

That concern, he said, is one reason that bankers have increasingly sought to use a federal government program that guarantees land loans made to farmers. Demand for the program, which currently has a $1.5 billion annual limit, has exceeded its capacity. Loans made within the program reached the cap in April of this year, leaving loan applications to pile up until the end of the government's fiscal year at the close of September. The ABA and others are trying to push lawmakers to raise the limit to $2.5 billion.

"So there is plenty of demand out there now, but there is also a sense that maybe these land prices can't keep going up like they have been," he said.

Already, there are some other signs of caution. Subsidiaries of big banks such as Wells Fargo & Co. and Regions Financial Corp. that are major farm lenders saw their total first-quarter lending in the sector decline from a year earlier, according to the SNL analysis. Others such as Bank of America Corp. and KeyCorp posted only modest gains.

Darin Newsom, a senior agriculture analyst for Omaha, Neb.-based DTN, counts himself among those who think a broader slowdown is in the works.

He told SNL that total gross income for the nation's farmers should be down slightly this year, as prices for corn and perhaps soybeans — major crops in the Midwest — come down from the highs of recent years. He said a bushel of cash corn has fetched $5.50 in recent trading days. By late this year that could come down just below $5 — still a decent price, but enough to curb profits and lead to a correction of sorts in farm country, where incomes have been surging for several years amid global demand for food and an expanding use of crops, particularly corn, as sources for alternative fuels.

"2013 I think will be a good year, but we may have peaked in 2012," Newsom said. He said farmers are increasing production after a drought last year, which will boost supply against demand and bring down prices some, and at the same time, global demand has shifted to other parts of the crop producing world, also likely affecting prices here this year.

What's more, he said, the strong profits in farm country juiced farmland values in agriculture-heavy states such as Iowa over the last several years. But land-price increases are showing signs of moderating alongside profits, Newsom said. And if the Federal Reserve pulls back on its easy-money policies, interest rates could rise notably, cutting into demand for land and putting downward pressure on prices, leaving farmers with diminishing equity and, from banks' view, declining creditworthiness.

"Now, farmers in general have been very profitable for several years, so they have plenty of equity built up and should be able to ride through a natural correction," Newsom said. "I don't expect a collapse and as long as there isn't one, I think the [farm sector] will level off but be fine. But it does look we are leveling off, and that could affect things" like appetites for loans.

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

Valuation Credential Update For Susan R. Savon
Alta Group Asset Management Practice

The Certified Valuation Analyst designation is the only valuation credential accredited by the National Commission for Certifying Agencies (NCCA), the accreditation body of the Institute for Credentialing Excellence (ICE).

Valuation expert Susan R. Savon, M.B.A. with the firm Independent Equipment Company, now The Alta Group Asset Management Practice, has previously been awarded the prestigious Accredited Valuation Analyst™ (AVA™) credential from the National Association of Certified Valuators and Analysts™ (NACVA®). Effective April 1, 2013, the AVA credential has merged with the Certified Valuation Analyst® (CVA®) credential, and Savon will now hold the CVA credential. The CVA credential is granted only to qualified individuals with considerable professional experience in the field of business valuation. “The CVA designation is an indication to the business, professional, and legal communities that recipients have met NACVA’s rigorous standards of professionalism, expertise, objectivity, and integrity in the field of business valuation, financial consulting, and related consulting disciplines,” stated Parnell Black, MBA, CPA, CVA, Chief Executive Officer of NACVA. “The merger of the AVA and CVA credentials will help unify the membership and the profession and further position NACVA and its members as the worldwide industry leaders in the valuation profession.”

“NACVA’s CVA designation is the only valuation credential accredited by the National Commission for Certifying Agencies® (NCCA®), the accreditation body of the Institute for Credentialing Excellence™ (ICE™),” Black added.

To become accredited by NACVA, the candidate is required to successfully complete an intensive training and testing process. An initial requirement to becoming a CVA is that the applicant either be a licensed Certified Public Accountant (CPA) holding an active, valid, and unrevoked CPA license in his or her state, or hold a business degree and/or an MBA (Masters of Business Administration), or higher business degree, from an accredited college or university. Further, those without a CPA license must have two years or more of full-time or equivalent experience in business valuation and related disciplines. Those who have earned the CVA credential must be recertified every three years in order to maintain their credential.

For more information about Independent Equipment Company’s business valuation, asset management, and related consulting services, contact Carl Chrappa at 727-796-7733 or via e-mail at cchrappa@iecvalue.com.

About Independent Equipment Company
– The Alta Group’s Asset Management Practice: IEC, the nation's oldest full service one-stop equipment management company, is highly regarded by the leasing and finance industries through its relationships with the Equipment Leasing and Finance Association (ELFA), the Commercial Finance Association (CFA), and the American Bankruptcy Institute (ABI). Since 1992, The Alta Group has represented equipment leasing and finance companies, financial institutions, manufacturers and service providers, offering management consulting and expertise in global market entry, vendor finance, professional development, legal support services, and mergers and acquisitions. Created through Alta’s merger with Independent Equipment Company (IEC), the Asset Management Practice is built on decades of experience trading in equipment markets and managing the equipment assets of companies worldwide.

About the NACVA:
Headquartered in Salt Lake City, UT, the National Association of Certified Valuators and Analysts (NACVA) is a global, professional association that delivers training from the nation’s leading experts in consulting fields such as business valuation, financial litigation forensics, expert witnessing, forensic accounting, fraud risk management, mergers and acquisitions, business and intellectual property damages, fair value, healthcare consulting, and exit strategies. Along with its training and certification programs, NACVA offers a range of support services, reference materials, software, and customized databases to enhance the professional capabilities and capacities of its members.

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

Fernando's View
By Fernando F. Croc

A superhero blockbuster ("Man of Steel") and an ingenious thriller ("Berberian Sound Studio") come to theaters, while DVD releases offer gothic drama ("Stoker"), surprising satire ("No"), and silent classics ("Safety Last!").

In Theaters:

Man of Steel (Warner Bros. Pictures): Having already tackled "Watchmen," director Zack Snyder reaches for another comic-book franchise in this epic new retelling of the Superman legend. Going back to the superhero's beginning, the film centers on young Clark Kent (played by Henry Cavill), a farm worker who must come to the terms with the roots of his inhuman strength. Discovering that he is in reality an alien from the dying planet Krypton who was sent to Earth as a child and was adopted by Ma and Pa Kent (Diane Lane, Kevin Costner). Now, with the planet in danger from a villain known as General Zod (Michael Shannon), Clark must adopt the heroic persona and red and blue suit of Superman. Heavily influenced by Christopher Nolan's Dark Knight movies, Snyder's reboot should satisfy fans of superhero movies and action extravaganzas alike.

Berberian Sound Studio (IFC Midnight): A familiar face in supporting character parts, Toby Jones gets a whole movie for himself in this tense, unique tale of mental disintegration. Jones stars as Gilderoy, a timid, middle-aged British sound engineer whose latest job takes him to an Italian studio in the 1970s, where a horror movie is being shot. Surrounded by producers, directors and secretaries whose language he cannot understand, he retreats more and more into his work, coming up with sonic accompaniment to the strange scenes he's shown. Entombed in his recording booth, his mind starts to confuse reality with fantasy. Can he pull back before it's too late? Director Peter Strickland offers a bravura portrayal of a man's mind, combining suspense with droll humor while lovingly recreating the atmosphere of 1970s Italian horror. One of the year's sleepers, this one is worth seeking out.

Netflix Tip: When Ray Harryhausen (1920-2013) recently passed away, a whole school of lovingly handmade creatures passed away with him. To celebrate this legendary special-effects maven, check out classics like "Mighty Joe Young" (1949), "The 7th Voyage of Sinbad" (1958), "Jason and the Argonauts" (1963), and "Clash of the Titans" (1981).

On DVD:

Stoker (Fox): Acclaimed, controversial Korean director Chan-wook Park makes his English-language debut with this wicked, visually alluring thriller about dark family secrets. Set in Tennessee, the plot centers on India (Mia Wasikowska), a young woman whose wealthy upbring can't hide her lonesome, troubled sides. When her beloved father dies in a car crash, her mysterious, sinister Uncle Charlie (Matthew Goode) suddenly arrives and moves in with her mother Evelyn (Nicole Kidman). It soon becomes clear that this stranger in the nest is up to no good, but India gradually finds that her horror toward him is spiked with fascination. The florid, Gothic material is right up the alley of Park, who lets his flamboyant camera move and spin along with the decadent characters. Dripping with mood and style, this is a perversely enjoyable coming-of-age fable.

No (Sony): Following "Tony Manero" and "Post Mortem," director Pablo Larrain continues his trenchant investigation of life in Chile during Augusto Pinochet's dictatorship. While those films were filled with dark anguish, his newest, Oscar-nominated movie deals instead in irony and droll humor, making it his most accessible work yet. Set in 1988 when Pinochet was scheming to enforce his slacking grip on the country, the plot focuses on Rene (Gael Garcia Bernal), a maverick young advertising agent who's chosen by the government to lead their campaign. However, Rene decides to undermine the dictator instead of helping him, and launches a sly series of over-the-top political ads aimed at ridiculing the man he's supposed to uphold. A fleet and smart satire which uses archival footage to often hilarious effect, "No" should earn a hearty "Yes" from viewers. With subtitles.

Safety Last! (Criterion): Though not as well-known today as fellow silent-screen comics Charlie Chaplin or Buster Keaton, Harold Lloyd remains just as timeless (and hilarious) to movie buffs. In this 1923 classic, arguably Lloyd's best known feature, he stars as a naive country lad who ventures into the big city to make his fame and fortune and ends up stuck as a clerk at a department store. When a contest is organized to see who can bring in the most customer into the store, he sets up a publicity stunt by having a man climb the side of the building. The climber turns out to be wanted by the law, however, so Lloyd has to do the stunt himself, culminating in the legendary scene of him dangling from the top of a tower, hanging on by the hand of a clock. Brimming with ingenious gags and engaging characters, this crowd-pleasing comedy is highly recommended for every movie lover.

 

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Classified ads—Credit

Leasing Industry Outsourcing
(Providing Services and Products)

IRS Retrieve/verify a corporation and personal tax information (1040, 1120, 1065) electronically directly from the source. Results delivered in 24-48 hours. 678-393-1988 Scott orsscher@recruitscreen.com

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

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

Labrador Retriever
Reno, Nevada Adopt-a-Dog

Jo Bee
# 181344
Female
Adult
Spayed

"I'm lovey-dovey girl that is absolutely loosey-goosey! I would love to go home with an owner that will cherish my gentle spirit and my kind soul! I would love to be your families new companion! My animal ID # is 181344."

JO BEE'S CONTACT INFO
Nevada Humane Society, Reno, NV
(775) 856-2000 X302
Email: petfinder@nevadahumanesociety.org

Application:
PDF

Dogs: Most Adults | $50.00

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

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

News Briefs----

 

What did the Federal Reserve say? For Dummies
http://www.bankrate.com/finance/federal-reserve/what-did-federal-reserve-say.aspx?ic_id=Top_Stories_link_1

Let’s make a Dell: Icahn revises plan, pushes $14-a-share offer
http://www.nypost.com/p/news/business/let_make_dell_O

Porsche No. 1 with GMC rumbling higher in quality study
http://www.upi.com/Business_News/2013/06/19/Porsche-No-1-with-GMC-rumbling-higher-in-quality-study/UPI-45411371668685/

Seattle jobless rate drops below 5%
http://seattletimes.com/html/businesstechnology/2021222114_jobs

Anxiety in Detroit Over a Prized Car Trove
http://www.nytimes.com/2013/06/20/business/detroits-finances-cast-a-shadow-over-a-prized-car-collection.html?ref=business&_r=0

Steps to Improving Bank Cross-Sell Performance"
http://www.jimmarous.blogspot.com/2013/06/improving-bank-cross-selling-performance.html

James Gandolfini, 1961-2013: A Great Actor, A Better Man
http://www.vulture.com/2013/06/james-gandolfini-obit-matt-zoller-seitz.html

 

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---You May Have Missed

Top U.S. Cities for International Visitors, by Market Share
http://www.leasingnews.org/photos/intl_vistors2013.pdf

 

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

SparkPeople--Live Healthier and Longer

 

29 Proven Methods to Manage Aches & Pains
http://www.sparkpeople.com/resource/wellness_articles.asp?id=1820

(Not mentioned, rolling exercises as well as massage muscles
that are tight, back, stomach, legs, arms, etc.)

[headlines]
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Baseball Poems

For Junior Gilliam (1928-1978) by B.H. Fairchild ©

Published: The Little Magazine (1978)

In the bleak, bleacherless corner of my rightfield American youth, I killed time with bubble gum and baseball cards and read the stats and saw a sign: your birthday was mine. And so I dreamed: to rise far from Kansas skies and fenceless outfields where flies vanished in the summer sun. To wake up black in Brooklyn, to be a Bum and have folks call me Junior and almost errorless hit .280 every year and on the field, like you, dance double plays, make flawless moves, amaze the baseball masses. You would turn, take the toss from Reese, lean back and, leaping past the runner's cleats, wing the ball along a line reeled out from home and suddenly drawn taut with a soft pop in Hodges' crablike glove. And we went wild in Kansas living rooms. The inning's over. You're in the shadows now. But summers past you taught us how to play the pivot (or how to dream of it). And when one day they put me in at second, I dropped four easy ones behind your ghost, who plays a perfect game.

For Junior Gilliam (1928-1978) by B.H. Fairchild ©

 

              

[headlines]
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Sports Briefs----

Mystery mass — not old pipes — blamed in Coliseum sewage mess
http://blog.sfgate.com/matierandross/2013/06/19/coliseum-sewage-mess-blamed-on-mystery-mass-not-old-pipes/

49ers sign DE Justin Smith to 2-year extension
http://sports.yahoo.com/news/49ers-sign-justin-smith-2-170600335--nfl.html

49ers ink Greg Roman to two-year extension
http://blogs.sacbee.com/49ers/archives/2013/06/report-49ers-ink-greg-roman-to-two-year-deal.html

Hawks even Cup series
http://www.chicagotribune.com/sports/hockey/blackhawks/ct-spt-0620-blackhawks-bruins-chicago-20130620,0,5136708.story

[headlines]
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California Nuts Briefs---

 

Men's Wearhouse ousts founder, pitchman George Zimmer
http://www.mercurynews.com/business/ci_23492398/george-zimmer-mens-wearhouse-ousts-founder-pitchman-fremont

Pay commission grants five percent raise for California lawmakers http://blogs.sacbee.com/capitolalertlatest/2013/06/pay-commission-grants-five-percent-raise-for-california-lawmakers-officials.html

[headlines]
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“Gimme that Wine”

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

Internet Wine Sales top $5 billion
http://www.wine-searcher.com/m/2013/06/internet-wine-sales-top-5-billion

New Organization Gives Voice to Interests of Wine Consumers

• 11 states still ban their residents from having wine shipped to them from out of state wineries.
  

• 36 States still ban their residents from having wine shipped to them from out of state retailers

• 17 States still ban its residents from buying wine in grocery stores

• 4 states ban the purchase of wine on Sundays

• 2 States control the sale of wine, rather than allowing its residents to buy their wine in a free and open marketplace

• 15 states ban their residents from bringing a bottle from home into a restaurant.

http://www.prweb.com/releases/2013/6/prweb10845989.htm

Sonoma County’s Million Dollar Crops
http://cloverdale.towns.pressdemocrat.com/2013/06/news/the-list-sonoma-countys-million-dollar-crops/

Fresno County crops: Grapes top $1 billion but overall value falls 3%
http://www.fresnobee.com/2013/06/18/3348777/fresno-county-crop-values-fall.html

Napa Valley Vintners Dedicate Heritage Olive Tree in Honor of Robert Mondavi
www.napavintners.com/trade/tm_3_release_detail.asp?ID_News=400023

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

   1675 - Abenaki, Massachusetts, Mohegan & Wampanoag Indians formed an anti English front. Wampanoag warriors attacked livestock and looted farms.
    1682 - A major tornado ripped through southwestern Connecticut, passing through Stratford, Milford, and New Haven, and then into Long Island Sound. 
    1782 - Congress approved the Great Seal of the United States and the eagle as its symbol.
    1819 - The 320-ton paddle-wheel steamship Savannah became the first steamship to cross the Atlantic. It arrived in Liverpool after a journey from Savannah, Georgia, of 27 days 11 hours.
    1856-In San Francisco, Committee of Vigilance headquarters was fortified with sandbags to stop any attacks by troops sent by the Governor to quell the insurrection. Cannons are mounted on the roof to forestall bombardment. 
    1858- Birthday of Charles W. Chestnutt, who is considered by many as the first noted black novelist in American Literature. His collections of short stories included “The Conjure Woman (1899)” and “the Wife of His Youth and other Stories of the Color Line(1899). “ The Colonel’s Dream (1905) dealt with the struggles of the freed slave. His work has been compared to later writers such as William Faulkner, Richard Wright, and James Baldwin. http://www.eden.rutgers.edu/~c350445/witter1.html
    1863- West Virginia became the 34th state. Observed as a holiday in West Virginia. The state of West Virginia is a product of the Civil War. Originally part of Virginia, West Virginia did not secede from the Union, but joined officially as the 35th state. Charleston is the capital of the Mountain State which boasts of having the most rugged terrain of any state east of the Mississippi. Throughout the forested hills of West Virginia, you’ll also find many cardinals (the state bird) and multitudes of the state flower, the big rhododendron.
http://memory.loc.gov/ammem/today/jun20.html
    1867-the first territory that was noncontiguous was annexed to the United States. Alaska was purchased from Russia for $7.2 million. General Lovell Harrison Rousseau, the first military governor of the territory, took formal possession of Alaska in October, 1867.
http://www.state.ak.us/?TTFUID=2545
    1885-- A band of Moravian missionaries landed on the shores of Alaska and founded the Bethel Mission. During the first year of their mission work among the, Eskimos, winter temperatures outside their makeshift housing plummeted to 50 degrees below zero! 
    1893 -- Eugene Debs forms the American Railway Union (ARU). 
In just a few months the union leads an 18-day strike against the Great Northern Railroad, forcing management to reverse three wage cuts. The victory against a railroad with 2,500 miles of track & 9,000 employees was so remarkable — especially during a depression — that the union signs up 2,000 members a day. This sets the stage for Chicago's Pullman Strike of     1894 — the first organized nationwide strike in US history. 
    1893-Spectators at her trial cheered when the “not guilty” verdict was read by the jury foreman in the murder trial of Lizzy Borden. Elizabeth Borden had been accused of and tried for the hacking to death of her father and stepmother in their Fall River, MA, home, Aug 4,1892.
    1894-birthday of Dr.Lloyd A. Hall, African-American pioneer in food chemistry, Illinoishttp://scienceu.fsu.edu/content/scienceyou/meetscience/hall.html
    1894 - During the summer of 1894, the Pullman Palace Car Company was embroiled in what proved to be one of the most bitter strikes in American history. The strike was a direct response to company chief George Pullman and his hardball tactics, most notably his decision in the midst of the Depression of 1893 to preserve profits by slashing wages and hiking up workers' rents. Though Pullman's cars didn't carry any mail, the scheme proved effective: in early July, the government banned the boycotts and swiftly shipped troops to Chicago. Fighting broke out shortly after the government forces hit the scene; by the time the militia left Chicago on July 20, the "war" between the troops and the strikers had left thirty-four men dead. But, the damage had already been done to the Pullman strikers: their ranks and clout had been depleted, and, when American Federation of Labor chief Samuel Gompers' refusal to lend them any substantial support, the rail workers were forced to capitulate to management. In the wake of the settlement, many of the strikers were barred from working in the rail industry.
    1895- Caroline Willard Baldwin became the first woman to earn a doctor of science degree at Cornell University, Ithaca, NY. (sorry could not find any biography or whatever happened to her.)
    1898-Having not known that a war was in progress and having no ammunition on the island, the Spanish commander of Guam surrendered to Captain Glass of the USS Charleston. Guam later became a protectorate of the US.
    1901-Charlotte Manye becomes the first native African to graduate from an American Universityhttp://www.greatepicbooks.com/epics/march98.html
    1903--Birthday of Glenna Collett Vare, American amateur golfer who dominated the sport in the 1920s, winning 59 of 60 consecutive matches. She won her last championship in 1935 defeating such teenagers as the immortal Patty Berg, an estimated 15,000 coming to watch the Grande Dame of golf and those who competed for the fun of it since there were no money prizes for women in those days. 
    1905 -- Playwright Lillian Hellman born, New Orleans. American playwright/memoirist. Had lifelong relationship with mystery writer Dashiell Hammett until his death (1961). Died 1984.
http://www.kirjasto.sci.fi/lhellman.htm
http://www.writing.upenn.edu/~afilreis/50s/hellman-today.html
    1907 -- First Portland Oregon Rose festival.
    1910 - Singer and comedienne Fanny Brice made her debut in the Ziegfeld Follies. She received rave reviews from the Broadway critics.
    1911-The National Association of Advancement of Colored People incorporates in New York City, NY
http://www.naacp.org/
    1912—trumpeter Lammar Wright, Sr. born Texakana, Texas ( with Benny Moten, Cab Calloway for 17 years).” Benny Moten's band is now a solid New Orleans style group even though they are from Kansas City. The trumpeter Lammar Wright is now playing with a fast terminal vibrato. 18th Street Strut uses Oliver-style phrases.”
    1915-The St. Louis Browns arrived in Detroit for a game against the Tigers without their uniforms. The Tigers lent the Browns spare uniforms and then beat them, 1-0.
    1917-Birthday of guitarist/singer Jimmy Driftwood, Mountain View, AR, Died 1998.
http://www.billslater.com/driftwood.htm
    1920-Trumpet player Doc Evans birthday
http://www.docevans.com/
    1920--Race riots in Chicago, Illinois leave two dead and many wounded.
    1920 -- Actor DeForest Kelley born at Atlanta, Georgia; perhaps best known for his role in Star Trek as Dr. Leonard "Bones" McCoy.
    1921-Miss Alice Robertson of Oklahoma became the first woman to preside in the US House of Representatives. Miss Robertson president for half an hour.
http://bioguide.congress.gov/scripts/biodisplay.pl?index=R000318

    1921 - Circle, MT, received 11.5 inches of rain in 24 hours, a record for the state. The town of Circle received a total of 16.79 inches of rain that month to establish a rainfall record for any town in Montana for any month of the year.
    1924 - Audie Murphy was born in Kingston, Tx. He became the most decorated American soldier of World War II who went on to make movies and write a book about his war experiences called “To Hell and Back.”
    1924-birthday of guitarist Chet Atkins, Luttrell, TN
http://www.misterguitar.com/caas.html
    1928-birthday of alto sax/flute player Eric Dolphy, Los Angeles, Ca. Died, 1964.
    1929 -- Louis Armstrong and an all-black cast open in "Hot Chocolates," New York City.
    1931--Birthday of Olympia Dukakis, stage and screen actor, won Academy Award for best supporting actress for her work in Moonstruck (1987).
    1936-- Billy Guy, baritone singer with the 1950's group the Coasters, was born in Los Angeles. The Coasters, formed in 1955, had a series of hits with novelty songs written by Jerry Lieber and Mike Stoller. The group achieved widespread popularity with their first releases in 1956 - "Down in Mexico" and "One Kiss Leads to Another." The Coasters' other hits included "Yakety Yak," "Charlie Brown" and "Poison Ivy." Many of the sax breaks on the Coasters' records are played by King Curtis.
    1940 - President Roosevelt strengthens his Cabinet by bringing in two prominent Republicans. Henry Stimson becomes Secretary for War and Frank Knox becomes Secretary for the Navy. Stimson is strongly against America's isolationist tradition and will be a champion of Lend-Lease.
    1942- Brian Wilson, lead singer and main songwriter for the Beach Boys, was born in Hawthorne, California. Wilson's songs - such as "Surfin' USA," "I Get Around" and "Help Me, Rhonda" - were all about being a teenager in California in the early 1960's - about surfing, driving and dating. The group turned to more grown up topics later in the decade, but the Beach Boys have survived mainly as a nostalgia act. They have sold more than 65 million records worldwide. Brian Wilson became a virtual recluse in 1970 when his neuroses and drug abuse got the better of him. He has since done the odd live show, and released a solo album in 1988. 
http://www.brianwilson.com/
    1943-Federal troops put down racial riot in Detroit 30 dead.
http://www.ustrek.org/odyssey/semester2/022801/022801nickdetroit.html
    1944 - The Japanese fleet withdraws to refuel, believing that their aircraft have landed safely on Guam. US Task Force 58 (Admiral Mitscher) launches an air strike on the Japanese fleet in the late afternoon. The 216 American aircraft encounter 35 defending fighters and sink the carrier Hiyo. Two other Japanese aircraft carriers are damaged as are a battleship and a cruiser. US loses amount to 20 planes shot down and 72 crashing while attempting to land on their carriers in the dark. During the night, the Japanese fleet withdraws and are not pursued. The battle of the Philippine Sea ended with Japan losing almost all its remaining trained pilots and at least 4,000 seamen.
    1944--*O'BRIEN, WILLIAM J. Medal of Honor
Rank and organization: Lieutenant Colonel, U.S. Army, 1st Battalion, 105th Infantry, 27th Infantry Division. Place and date: At Saipan, Marianas Islands, 20 June through 7 July 1944. Entered service at: Troy, N.Y. Birth: Troy, N.Y. G.O. No.: 35, 9 May 1945. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty at Saipan, Marianas Islands, from 20 June through 7 July 1944. When assault elements of his platoon were held up by intense enemy fire, Lt. Col. O'Brien ordered 3 tanks to precede the assault companies in an attempt to knock out the strongpoint. Due to direct enemy fire the tanks' turrets were closed, causing the tanks to lose direction and to fire into our own troops. Lt. Col. O'Brien, with complete disregard for his own safety, dashed into full view of the enemy and ran to the leader's tank, and pounded on the tank with his pistol butt to attract 2 of the tank's crew and, mounting the tank fully exposed to enemy fire, Lt. Col. O'Brien personally directed the assault until the enemy strongpoint had been liquidated. On 28 June 1944, while his platoon was attempting to take a bitterly defended high ridge in the vicinity of Donnay, Lt. Col. O'Brien arranged to capture the ridge by a double envelopment movement of 2 large combat battalions. He personally took control of the maneuver. Lt. Col. O'Brien crossed 1,200 yards of sniper-infested underbrush alone to arrive at a point where 1 of his platoons was being held up by the enemy. Leaving some men to contain the enemy he personally led 4 men into a narrow ravine behind, and killed or drove off all the Japanese manning that strongpoint. In this action he captured S machineguns and one 77-mm. fieldpiece. Lt. Col. O'Brien then organized the 2 platoons for night defense and against repeated counterattacks directed them. Meanwhile he managed to hold ground. On 7 July 1944 his battalion and another battalion were attacked by an overwhelming enemy force estimated at between 3,000 and 5,000 Japanese. With bloody hand-to-hand fighting in progress everywhere, their forward positions were finally overrun by the sheer weight of the enemy numbers. With many casualties and ammunition running low, Lt. Col. O'Brien refused to leave the front lines. Striding up and down the lines, he fired at the enemy with a pistol in each hand and his presence there bolstered the spirits of the men, encouraged them in their fight and sustained them in their heroic stand. Even after he was seriously wounded, Lt. Col. O'Brien refused to be evacuated and after his pistol ammunition was exhausted, he manned a .50 caliber machinegun, mounted on a jeep, and continued firing. When last seen alive he was standing upright firing into the Jap hordes that were then enveloping him. Some time later his body was found surrounded by enemy he had killed His valor was consistent with the highest traditions of the service.
1944 - The Japanese fleet withdraws to refuel, believing that their aircraft have landed safely on Guam. US Task Force 58 (Admiral Mitscher) launches an air strike on the Japanese fleet in the late afternoon. The 216 American aircraft encounter 35 defending fighters and sink the carrier Hiyo. Two other Japanese aircraft carriers are damaged as are a battleship and a cruiser. US loses amount to 20 planes shot down and 72 crashing while attempting to land on their carriers in the dark. During the night, the Japanese fleet withdraws and is not pursued.

    1944 - Vice Admiral Marc Mitchner, commander of the U.S. Task Force 58, ordered all lights on his ships turned on to help guide his carrier-based pilots back from the Battle of the Philippine Sea.

    1945--O'BRIEN, WILLIAM J. Medal of Honor

Rank and organization: Lieutenant Colonel, U.S. Army, 1st Battalion, 105th Infantry, 27th Infantry Division. Place and date: At Saipan, Marianas Islands, 20 June through 7 July 1944. Entered service at: Troy, N.Y. Birth: Troy, N.Y. G.O. No.: 35, 9 May 1945. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty at Saipan, Marianas Islands, from 20 June through 7 July 1944. When assault elements of his platoon were held up by intense enemy fire, Lt. Col. O'Brien ordered 3 tanks to precede the assault companies in an attempt to knock out the strongpoint. Due to direct enemy fire the tanks' turrets were closed, causing the tanks to lose direction and to fire into our own troops. Lt. Col. O'Brien, with complete disregard for his own safety, dashed into full view of the enemy and ran to the leader's tank, and pounded on the tank with his pistol butt to attract 2 of the tank's crew and, mounting the tank fully exposed to enemy fire, Lt. Col. O'Brien personally directed the assault until the enemy strongpoint had been liquidated. On 28 June 1944, while his platoon was attempting to take a bitterly defended high ridge in the vicinity of Donnay, Lt. Col. O'Brien arranged to capture the ridge by a double envelopment movement of 2 large combat battalions. He personally took control of the maneuver. Lt. Col. O'Brien crossed 1,200 yards of sniper-infested underbrush alone to arrive at a point where 1 of his platoons was being held up by the enemy. Leaving some men to contain the enemy he personally led 4 men into a narrow ravine behind, and killed or drove off all the Japanese manning that strongpoint. In this action he captured S machineguns and one 77-mm. fieldpiece. Lt. Col. O'Brien then organized the 2 platoons for night defense and against repeated counterattacks directed them. Meanwhile he managed to hold ground. On 7 July 1944 his battalion and another battalion were attacked by an overwhelming enemy force estimated at between 3,000 and 5,000 Japanese. With bloody hand-to-hand fighting in progress everywhere, their forward positions were finally overrun by the sheer weight of the enemy numbers. With many casualties and ammunition running low, Lt. Col. O'Brien refused to leave the front lines. Striding up and down the lines, he fired at the enemy with a pistol in each hand and his presence there bolstered the spirits of the men, encouraged them in their fight and sustained them in their heroic stand. Even after he was seriously wounded, Lt. Col. O'Brien refused to be evacuated and after his pistol ammunition was exhausted, he manned a .50 caliber machinegun, mounted on a jeep, and continued firing. When last seen alive he was standing upright firing into the Jap hordes that were then enveloping him. Some time later his body was found surrounded by enemy he had killed His valor was consistent with the highest traditions of the service.

    1945- Anne Murray, one of the most popular female singers in the world, was born in Springhill, Nova Scotia. In 1966, she became a member of the chorus of "Singalong Jubilee," a CBC TV show from Halifax. Murray continued as a featured performer on the show until 1970, the year the success of her recording of "Snowbird" caused a dramatic increase in her popularity. It was the first disc by a Canadian female vocalist to earn a gold record in the US. During the 1970's, Murray developed into Canada's most popular female singer. And she began enjoying great success with pop and country audiences in the US and Britain. She began appearing frequently on "The Glen Campbell Goodtime Hour" on CBS TV. Her hits included "Talk It Over in the Morning," "What About Me" and "You Needed Me," a 1978 million-seller. In 1986, she opted for a new, more contemporary image, with the hit "Now and Forever," produced by David Foster. 
    1945 -- Abbott & Costello's "Who's on First" routine is first seen, in the film "The Naughty Nineties".
    1945-Birthday Anne Murray, one of the most popular female singers in the world, was born in Springhill, Nova Scotia. In 1966, she became a member of the chorus of "Singalong Jubilee," a CBC TV show from Halifax. Murray continued as a featured performer on the show until 1970, the year the success of her recording of "Snowbird" caused a dramatic increase in her popularity. It was the first disc by a Canadian female vocalist to earn a gold record in the US. During the 1970's, Murray developed into Canada's most popular female singer. And she began enjoying great success with pop and country audiences in the US and Britain. She began appearing frequently on "The Glen Campbell Goodtime Hour" on CBS TV. Her hits included "Talk It Over in the Morning," "What About Me" and "You Needed Me," a 1978 million-seller. In 1986, she opted for a new, more contemporary image, with the hit "Now and Forever," produced by David Foster.
    1946 - Singer Anne Murray (Morna Anne Murray) is born in Springhill, Nova Scotia. Her biggest hit is the million-selling No. 1 single ``You Needed Me'' in 1978.
    1948 - President Harry S. Truman institutes a military draft with a proclamation calling for nearly 10 million men to register for military service within the next two months. Truman's action came during increasing Cold War tensions with the Soviet Union.
    1948-“The Ed Sullivan Show” premiered on television. It was officially titled “Toast of the Town” until 1955. We all watched it, especially since we were living in the early 1950’s in Port Chester, NY, where he also lived. It was the longest-running variety show (through 1971) and the most popular for decades. Ed Sullivan, the host, signed all types of acts, both well known and new, trying to have something to please everyone. Thousands of performers appeared, many making their television debut, such as Irving Berlin, Victor Borge, Hedy Lamarr, Walt Disney, Fred Astaire and Jane Powell. Two acts attracted the largest audience of the time: Elvis Presley and the Beatles.
    1949-birthday of Lionel Richie, Tuskegee, AL ; Tenor sax, songwriter, the son of a retired U.S. Army captain and a teacher. The former lead singer of the Commodores has five No. 1 hits, including "Endless Love." That duet with Diana Ross sells more than 2 million copies and in 1981 tops Billboard's Hot 100 for nine weeks, longer than any other duet. 
http://www.alamhof.org/richiel.htm
http://www.lionelrichie.com/ 
    1950 - Willie Mays graduated from high school this day and immediately signed with the New York Giants for a $6,000 bonus. The ‘Say Hey Kid’ would play most of his career for the Giants -- in both New York and San Francisco -- becoming a baseball legend. As his career came to a close, Mays was traded to the New York Mets. Mays, an all-star center fielder, is in the Baseball Hall of Fame. He lives on the San Francisco Peninsula. 
   1952--Birthday of Zoë Baird, American insurance company executive who almost became the first woman Attorney General of the United States. Baird withdrew her name after it was disclosed she failed to pay Social Security and unemployment taxes for her nanny. Kimba Wood later became the second nominee, but she, too, withdrew when it was revealed HER HUSBAND had failed to pay taxes for their domestic help but in spite of it being her husband's fault, she withdrew in the face of stiff Republican opposition. The third nominee by President Clinton was Janet Reno who did win confirmation. 
    1953-Cyndi Lauper is born in New York City. Her first single, ``Girls Just Want to Have Fun,'' sells more than 2 million copies and reaches No. 2 on Billboard's Hot 100. Two later releases, ``Time After Time'' and ``True Colors'' top the chart.
    1955---Top Hits
Cherry Pink and Apple Blossom White - Perez Prado
Rock Around the Clock - Bill Haley & His Comets
It’s a Sin to Tell a Lie - Somethin’ Smith & The Redheads
Live Fast, Love Hard, Die Young - Faron Young
    1957 -A violent tornado, rated F5 on the Fujita scale, tore through Fargo, North Dakota. 10 people were killed and 103 injured. Over 1300 homes were damaged or destroyed.
    1960-Floyd Patterson became the first boxer to regain the heavyweight championship when he knocked out Ingemar Johansson of Sweden at 1:51 of the fifth round. Patterson won the crown for the first time on November 30, 1956, defeating Archie Moore. Johansson scored a TKO over the champion on June 26, 1959. Johansson also lost a third fight on March 13, 1961.
    1960-17-year-old Annette Funicello entered the Billboard Pop chart with the Paul Anka penned "Train of Love". The song would become the fourth of her five Top 40 hits, eventually reaching #36. 
    1963 - The United States and the Soviet Union established a hot-line to serve as an emergency communications system between the two superpowers during the Cold War. While the system was tested, it was never used. 
    1963---Top Hits
Sukiyaki - Kyu Sakamoto
You Can’t Sit Down - The Dovells
Blue on Blue - Bobby Vinton
Act Naturally - Buck Owens
    1964 - A squall line producing large hail swept through central Illinois. A second squall line moved through during the early morning hours of the 21st, and a third one moved through shortly after dawn. The series of hailstorms caused nine million dollars damage. Hailstones as large as grapefruit caused heavy damage to trees, utility lines, crops and buildings. The thunderstorms also produced as much as five inches of rain in an eight hour period 
    1965 - No. 1 Billboard Pop Hit: "Mr. Tambourine Man," The Byrds.
    1966 - The U.S. Open golf tournament was broadcast from San Francisco, with something extra for the nation’s golf fans. It was the first time TV had beamed a golf event in color.
    1967---Boxing champion Muhammad Ali is convicted of refusing induction into the American armed services. 
    1969 - American astronaut Neil Armstrong, 240,000 miles from Earth, speaks these words to more than a billion people listening at home: "That's one small step for man, one giant leap for mankind." A moment later, he stepped off the lunar landing module Eagle and became the first human to walk on the surface of the moon. The American effort to send astronauts to the moon has its origins in a famous appeal President John F. Kennedy made to a special joint session of Congress on May 25, 1961: "I believe this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to Earth." At the time, the United States was still trailing the Soviet Union in space developments, and Cold War-era America welcomed Kennedy's bold proposal.
    1969--The three day Newport Festival began in Northridge, California, featuring such performers as Jimi Hendrix, Joe Cocker and Ike and Tina Turner. Hendrix was paid $135,000, at the time the most ever paid to a rock performer for a single performance. Like the notorious Altamont Festival later in the year, there were violent gate-crashing incidents and a motorcycle gang had been hired for security.
http://www.jimi-hendrix.com/
    1969 - American astronaut Neil Armstrong, 240,000 miles from Earth, speaks these words to more than a billion people listening at home: "That's one small step for man, one giant leap for mankind." A moment later, he stepped off the lunar landing module Eagle and became the first human to walk on the surface of the moon
    1970 - Beatles tune "The Long and Winding Road" began its second week on the pop music charts number one spot. It would be the last song released by The Beatles. 
    1970-Neil Young's "Cinnamon Girl" goes gold.
    1971---Top Hits
It’s Too Late/I Feel the Earth Move - Carole King
Rainy Days and Mondays - Carpenters
Treat Her Like a Lady - Cornelius Brothers & Sister Rose
When You’re Hot, You’re Hot - Jerry Reed
    1972 - Pres. Nixon recorded on tape information relating to the Jun 16 Watergate break-in. Sections of the tape were later erased, allegedly accidentally by sec. Rose Mary Woods. A panel of experts examined the tape to see if the 18-minute gap was intentional. Richard H. Bolt (d.2002 at 90), acoustic expert at Bolt, Beranek and Newman, later said that if it was an accident than it was committed at least 5 time in the 18 minutes.

   1972-The Tallahatchie Bridge, made famous in Bobbie Gentry's "Ode to Billie Joe", collapsed into the Yazoo River. Although an article which appeared in the November 1967 issue of Life magazine showed a picture of Bobbie walking across it, she later said that she didn't have any particular span in mind when she wrote the song. It's also worth noting that Chocktaw Ridge, which is also referred to in the song, is located a hundred miles away on the east side of the I-55, and not anywhere near the Tallahatchie River as it passes through Leflore County. 
    1975—Jaw’s Film released: With its tagline, “Don’t go in the water” and its ominous cellomusic, the Steven Spielberg-directed thriller shocked audiences on this date. Adapted from a Peter Benchley bestseller, Jaws, showed a great white shark preying on the beachgoes of a New England town. It won three Oscars—best editing, best sound and best original score ( by John Willaims)—and was a blockbust success. 
    1977-Former White House chief of staff HR Haldeman enters prison, Died 1993. 
http://www.washingtonpost.com/wp-srv/national/longterm/watergate/stories/halobit.htm
    1977 - No. 1 Billboard Pop Hit: "Got to Give It Up (Pt. 1)," Marvin Gaye.
    1979---Top Hits
Hot Stuff - Donna Summer
We are Family - Sister Sledge
Ring My Bell - Anita Ward
She Believes in Me - Kenny Rogers
    1980- "It's Still Rock & Roll" becomes Billy Joel's first #1 hit.
    1985 - Coach Rollie Massimino told reporters, "I just can’t leave Villanova," when he turned down a $2.1 million over ten years offer to coach basketball for the New Jersey Nets.
    1987 - Whitney Houston’s album, "Whitney", debuted on "Billboard" magazine’s album chart at number one. Houston became the first female to have an LP debut at the top. The singer, daughter of Cissy Houston and cousin of Dionne Warwick, began her singing career at age 11 with the New Hope Baptist Junior Choir in New Jersey. Houston first worked as a backup vocalist for Chaka Khan and Lou Rawls; entered modeling in 1981, appearing in "Glamour" magazine and on the cover of "Seventeen". Whitney married soul singer, Bobby Brown, in the late 1980s. 
    1987---Top Hits
Head to Toe - Lisa Lisa & Cult Jam
I Wanna Dance with Somebody (Who Loves Me) - Whitney Houston
In Too Deep - Genesis
Forever and Ever, Amen - Randy Travis
    1988-A law to force the admission of women to private clubs was upheld unanimously by the Supreme Court. At issue was a New York City law requiring women to be admitted to large, private clubs that are said to play important roles in business and professional life. In New York, the University Club had already voted to admit women. By the end of August, the Union League Club, the Century Association, and the Friars Club in New York agreed to admit women. The Friars Club in California admitted its first female member in 1987. On June 18, the exclusive Cosmos Club in Washington, D.C.C. unassailably male for 110 years, voted by a large majority to accept women. It too had been threatened with legal action.
    1988 - Thirty-eight cities in the central U.S. reported record high temperatures for the date. Afternoon highs of 97 degrees at Flint, MI, and 104 degrees at Chicago, IL, equaled records for the month of June. Thunderstorms in North Dakota produced baseball size hail near Kief, and wind gusts to 100 mph near McGregor
    1993- With a four-games-to-two victory over the Phoenix Suns in the National Basketball Association (NBA) finals the Chicago Bulls earned their third straight NBA title, defeating the Phoenix Suns, 4 games to 2. The Bulls became the first team to win “three ‘peat” since 1966, when the Boston Celtics won their eighth in a row. In 1996 the Bulls won the NBA title for a fourth time, in 1997 for a fifth and in 1998 for a sixth, for another three-in-a-row sweep.
    1994 - U.S. athlete O.J. Simpson pleaded innocent to murdering his ex-wife and her friend.
    1994-- Geffen Records offered the estimated two million subscribers to the CompuServe computer bulletin board an opportunity to download a previously unreleased Aerosmith song, "Head First." The track was recorded during the band's sessions for the 1993 album "Get a Grip." It was one of the first times that subscribers to a bulletin board service could download an entire song over computer lines. 
    1995-- Michael Jackson's "HIStory - Past, Present and Future: Book One" was released. The double CD, Jackson's first album since child molestation allegations two years earlier, debuted at number one on the Billboard chart. Initial sales in the US were strong but dropped off sharply in subsequent weeks. Canadian record stores reported only moderate sales. Jackson had to battle controversy over anti-Semitic lyrics in the song "They Don't Care About Us." He said he used the words to illustrate the evils of prejudice. Jackson promised to include a written explanation in albums already produced and not shipped and to re-record the song with new lyrics for future releases.
    1995 -A supercell thunderstorm dumped unusually large hail for New England in Connecticut. Baseball size hail fell at Vernon, Manchester, Deep River, and Old Saybrook. At deep river, the large hail lasted for 20 minutes, causing hundreds of thousands of dollars in damage. Some automobiles were totaled. In one historic building, 25 windows were broken, including a 100 year old curved window. 
    1995 - Legendary country duo George Jones and Tammy Wynette release reunion album "One." 
    1999 - Payne Stewart made a 15-foot par putt on the 18th hole at famous Pinehurst Resort & Country Club's No. 2 course in Pinehurst, North Carolina. The putt was just enough to win the U.S. Open by one stroke over Phil Mickelson. Stewart, one stroke behind with three holes to play – and apparently heading for a play-off round the next day -- made a 25-foot putt for par to catch Mickelson, a 3-foot birdie putt on No. 17 to take the lead, and then his 24th putt of the day to win the championship. He tragically died in a plane crash October 25, the same year, 1999.
    2001-- Hitting his 38th homer of the season, Barry Bonds breaks the major league mark established by Reggie Jackson (1969) and Mark McGwire (1998) for home runs hit before the All-Star game. The Giants' left fielder still has 17 games to add to the record.
    2004-- On Father's Day with his dad present, Ken Griffey, Jr. nails a 6th inning fastball of Cardinal hurler Matt Morris over the right field wall at Busch Stadium for his 500th career home run. The Reds' center fielder becomes the 20th major leaguer and the sixth youngest (34) to reach the milestone.
    2004-June 20th marked the 3000th time that Paul McCartney took to the stage as a professional musician. He had performed 2,535 concerts with the Quarrymen and the Beatles, 140 gigs with Wings and 325 solo shows. 
    2006 - An album of jazz standards Diana Ross recorded more than 30 years earlier finally sees the light of day. "Blue" was intended as a companion to the hit 1972 soundtrack to "Lady Sings the Blues," in which Ross portrayed jazz legend Billie Holiday. However, Ross instead followed up the project with the pop album "Touch Me in the Morning," which reached No. 1 on the Billboard album chart. In its wake, "Blue" was shelved.
    2008-Jimmy Buffett announced that his Margaritaville Holdings has paired with New York gambling company Coastal Marina to buy the Trump Marina Hotel Casino for $316 million. His vast business empire also includes tequila, beer, frozen food, footwear, restaurants, a resort, a record label and a recording studio. In 2006, Rolling Stone magazine estimated Buffett's earnings at $44 million - the seventh-most of any musician.

 

NBA Finals Champions This Date

    1993 Chicago Bulls
    2006 Miami Heat