Friday, June 6, 2014
Today's Equipment Leasing Headlines
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Classified Ads---Senior Management
“Evergreen Clause”—The Danger of Automatic Renewal
Twelve Attorneys Against Evergreen Abuse
Leasing Industry Ads---Help Wanted
Beige Book---Lending Activity Increased
Federal Reserve Positive News
Capital Conferences---2014 Update
De Lage Landen Team-Building Comes to Life
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16% of stay-at-home parents are dads, up from 10% in 1989
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“Evergreen Clause”—The Danger of Automatic Renewal
The inclusion of automatic renewal (or “evergreen”) clauses in true leases has been a fairly common practice from time immemorial. It is included in most company leasing contracts, whether "fair market value," 10%options, or even $1.00 (Yes, companies will continue payments if not notified and there have been several cases where the residual is $1.00)
There is no question that these clauses provide important protections to the lessor to obtain their residual. If the lessee has no intent to renew, the lessor has in interest in knowing it before the end of the term so that he can start planning for remarketing or some other disposition of the equipment.
However, the question of whether a lessee should be reminded by the lessor of the notice deadline in plenty of time for the lessee to react is an entirely different question. These states have statutes requiring commercial equipment lessors to provide a written notice – a fair warning – before the notice deadline date arrives:
This is an unofficial list:
(*Consumer, may affect commercial,
especially a proprietorship,
partnership or personal guarantee)
Most of the abuses occur in the small-ticket world. Larger lessees often overlook the notification clause in the contract or do not have “tickler” systems to remind them. Consider the corner dry-cleaner. He signs up for a five year lease in 2014. Does he mark it 90 days before the expiration in his computer calendar for 2019, or more important, did he overlook this as the residual is 10% or a $1.00. And the more apt question is: What possible interest does a lessor have in not voluntarily reminding its customer of the notice deadline – unless it’s to create a chance that the lessee will slip up and get trapped in a renewal it does not want?
Companies who utilize Evergreen Clauses
for Extra Lease Payments
These companies use language in their purchase options to confuse, perhaps to deceive, with the result an automatic continuation for an additional twelve months of payments. Often they win transactions with lower monthly payments as the lessee is not aware of the practice at the end of the initial term of the lease.
Several have continuation of payments and the requirement of replacing the equipment for a new lease. Leasing News has had complaints involving companies who invoke the twelve months on a $1.00 purchase option, as well as on an Equipment Finance Agreements.
Two of the companies on this list do a lot of copier leasing, where it is reported manufacturers are now getting a piece of auto-renewals and as well as insisting that they be in the lease as a condition of the business. Leasing News has heard from a very reliable source that some copier manufacturers also give dealers 4-5 months’ notice of a discontinued model and agree to sell it to the dealer at 40% of list price, on the condition that the captive finance division not receive the business. Also buried in the contract on one is a one month rental return fee including an inspection fee at the location specified by lessor and at lessee’s return expense (often not the local dealer who supplied the copier).
Advice for Broker or Lessor
Dealing with a Company that Uses Evergreen Clauses
ACC Capital, Midvale, Utah
Balboa Capital, Irvine, California
De Lage Landen, Wayne, Pennsylvania
IFC Credit, Morton Grove, Illinois
Jules and Associates, Los Angeles, California
LEAF Financial Group, Philadelphia, Pennsylvania
Marlin Business Leasing, Mount Laurel, New Jersey
Marquette Equipment Finance, Midvale, Utah
Mazuma Capital Corporation, Draper, Utah
Onset Financial, South Jordan, Utah
Pacific Western Equipment Finance, Cottonwood Heights, Utah
Republic Bank, Bountiful, Utah
Tetra Financial Group, Salt Lake City, Utah
ACC Capital, Midvale, Utah---This company is no longer in business, although its portfolio is being wound down, according to its owner Loni Lowder; the receivables are being collected by creditors. Lowder today is an employee, manager, Stalwart Contract Finance, Salt Lake City, Utah. All Evergreen Clause complaints have not been satisfied, but were when the company was active.
Balboa Capital, Irvine, California---This company had its first Bulletin Board Complaint in 2006. While a new president stated this was no longer the practice, recent bulletin Board Complaints demonstrate the practice continues.
De Lage Landen, Wayne, Pennsylvania -- $34,560 in lease payments were collected illegally, although the lease contract had an Evergreen clause that if the lessee did not notify in 90 days before expiration, the payments would continue. It appears this went on for almost three years. The purchase option was 10%.
What makes it even more shameless is a collection agency was involved after payments stopped, but wait, it gets worse: the lessee has settled with the funder and the funder's collection agency, but the lessor, who sold the lease to the funder, De Lage Landen (DLL,) remains in the suit as being party, or “in collusion,” with the Evergreen clause collection matter. The fact is the lessor was not directly involved in the collection of payments or received any remuneration, as well as the suit continues, now solely against the lessor.
IFC Credit, Morton Grove, Illinois---This company is in bankruptcy, appeared many times in the Leasing News Bulletin Board prior to filing bankruptcy, but engaged in Evergreen Clauses, and unfortunately a recent example is a complaint to the trustee, stemming from M&T Bank lease assignment expiring and notify the lessee that they did not notify about the residual, which was a $1.00. This has happened many times with other banks who have taken over the IFC Credit Corporation portfolio. Calls and letters to the trustee and attorneys have gone unanswered.
Jules and Associates, Los Angeles, California--- Jules and Associates, Los Angeles, California---A repeat customer, who notified Jules and Associates on a lease, but was not before the 180 day expiration, so Jules and Associates instead of the 1% due for the residual ($2,308.79) charged six more payments or $40,463.94, and if 1% is not paid in this time, they will be subject to another three months.
LEAF Financial Group, Philadelphia, Pennsylvania---It appears this company is in a more wind down phase, moving its operation of LEAF Commercial Credit with basically the same management. There have been complaints about the Evergreen Clause, including one this year for an Equipment Finance Agreement!
Marlin Business Leasing, Mount Laurel, New Jersey---The actual SEC filings state the profit earned from Evergreen Clause, primarily from copier leases. Bulletin Board Complaints have been received about this practice in addition to the SEC financial statement filings. (9) Marlin Response to posting
Marquette Equipment Finance, Midvale, Utah --- According to Dorran Sampson, Vice-President/Broker Relations: "Marquette Equipment Finance does not offer an Evergreen product. Our master lease provides for extensions but is negotiated at the schedule level. Notice periods are also negotiated at the schedule level and vary depending on the Lessee’s needs."
When the company was bought and became Pacific Western Equipment Finance (a division of Pacific Western Bank) he maintained the same position. It was noted his old company was still on the list, and a request of his "master lease" was made.
"Our docs are the same as when we were with Marquette. Because we’re public now, it is very difficult to get documents released."
I asked him if he could send to a broker wanting to do business with him, "Sorry, can’t forward to you or your brokerage."
A search of PACER, a national index for U.S. district, bankruptcy and appellate courts brought up a number of Marquette cases, and the first one hit pay dirt: Merchants & Farmers Bank, a Mississippi Corporation versus Marquette Equipment Finance and Applied Financial. It was a similar case and while "dismissed with prejudice" (6), it had the arguments regarding the purchase option and a copy of the complete contract with a similar PPR as with Mazuma Capital:
"(g) Lessee's Options at End of Initial Period. At the end of the Initial Period of any Lease, Lessee shall, provided at least one-hundred-eighty (180) days prior written notice is received by Lessor from Lessee via certified mail, do one of the following: (1) purchase the Property for a price to be determined by Lessor and Lessee, (2) extend the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) return the Property to Lessor at Lessee's expense to a destination within the continental United States specified by Lessor and terminate the Schedule; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule must first be paid in full, the provisions of Sections 6(c) and (d) and 7(c) hereof must be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property listed on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. In the event Lessor and Lessee have not agreed to either option (1) or (3) by the end of the Initial Period or if Lessee fails to give written notice of its option via certified mail at least one-hundred-eighty (180) days prior to the termination of the Initial Period, then option (2) shall apply at the end of the Initial Period. At the end of the extension period provided for in option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the end of any such successive six-month renewal period by either Lessor or Lessee giving to the other party at least ninety (90) days prior written notice of termination."
The first option is to purchase the equipment for a price to be determined by Lessor and Lessee and requires a certified letter 180 days prior. This sounds like a fair market purchase option, but the “price to be determined” language means that the Lessor can set any price it wants. This option is illusory in my opinion.
The second option is to continue the lease for an additional 12 months, the “Evergreen” period. No notice of this provision is given to the lessee either in advance of signing or prior to exercising this option. Republic Bank purchases these 12 month extensions in advance of their exercise. How would the bank know that the lessee is going to exercise this option, unless everyone knows it is the only practical option for the lessee to exercise? Republic Bank President Boyd Lindquist confirmed in a telephone call that he “buys” these extensions from Mazuma and has for quite some time.
The third option is to return the equipment, but the clause is draped with the condition that the lessee has to re-lease identical equipment for a similar term. It also has 180 day certified letter requirement, and applies to the second option of 12 months, but also has the clause of an automatic six month option. So what is the point of exercising this option? At the end of this re-lease, there would be the same three identical options, so the lessee would be required to re-lease and re-lease. It’s just like Groundhog Day.
Leasing News is working on obtaining information on other companies so named to add to the list, including follow-up on the master lease for Pacific Western Equipment Finance. If you have a copy, please send and will keep your name “off the record.”
((7) See for Copy of Filing, including contract.)
Mazuma Capital Corp, Draper, Utah Several routie "end of lease agreements, as alleged in Unified Container and Anderson Dairy (1) "8. The basic scheme involves the inclusion of a purchase, renewal, return (“PRR”) provision in the lease. The lessor assures the customer they will be able to purchase the equipment at the end of the initial term in the lease for a reasonable or nominal price. Often, the lessor promises the equipment can be purchased at a fixed percentage of the total amount financed. However, at the end of the initial lease term, the lessor refuses to honor the agreed upon purchase price or negotiate in good faith regarding a purchase price, but instead, insists the lease automatically renews for an additional term (usually twelve months).
9. The inclusion of the purchase and return options in the lease are entirely illusory and intended only to give the customer the false impression that it can exercise any of the three options at the end of the initial lease term, when in fact, the lessor will only allow an automatic renewal at the end of the initial lease term.) There are other exhibits. This case was settled "out of court."
H. Jared Belnap, President & CEO, Mazuma Capital Corp., takes exception on beingon the Evergreen list. His full letter and Leasing News Response is at (5).
Onset Financial, South Jordan, Utah --- Onset contract, which contained:
n. Lessee's Options at Maturity of Base Period. At the maturity of the Base Period of any Lease, Lessee shall, provided at least one hundred fifty (150) days prior written notice is received by Lessor from Lessee via certified mail, do one of the meowing: (1) purchase the Property for a price to be determined by Lessor end Lessee, (2) renew the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) terminate the Schedule and return the Properly to Lessor at Lessee's expense to a destination within the continental United States specified by Lessor; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due end owing under the Schedule must first be paid in full, the provisions of Sections 8f, 8g and 7d hereof roust be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property fisted on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. In the event Lessor end Lessee have not agreed to either option (1) or (3) by the maturity of the Base Period, or if Lessee fails to give written notice of Its option via certified marl at least one hundred fifty (150) days prior to Use maturity of the Base Period, or if an Event of Default has occurred under any Lease, then option (2) shall apply at the maturity of the Base Period. At the maturity of the renewal period provided for In option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the maturity of any such successive six-month renewal period by either Lessor or Lessee giving to the other party at best thirty (30) days prior written notice of termination." (1)
((8) See for Copy of Onset Contract with PPR purchase option.
Pacific Western Equipment Finance, Cottonwood Heights, Utah
Dorran Sampson, then Vice-President/Broker Relations, Marquette Equipment Finance, now Vice President Broker Relations Pacific Western Equipment Finance told Leasing News when the company was bought and became Pacific Western Equipment Finance (a division of Pacific Western Bank) they maintained the same position as Marquette.
"Our docs are the same as when we were with Marquette. Because we’re public now, it is very difficult to get documents released."
I asked him if he could send to a broker wanting to do business with him, "Sorry, can’t forward to you or your brokerage.
Leasing News has obtained a copy of a Pacific Western Equipment Finance agreement, and confirms the same procedures as their former company Marquette utilized:
“14. LESSEE’S OPTIONS AT END OF INITIAL PERIOD.
At the end of the Initial Period of any Lease, Lessee shall, provided at least one-hundred-eighty (180) days prior written notice is received by Lessor from Lessee via certified mail, do one of the following: (1) purchase the Property for a price to be determined by Lessor and Lessee, (2) extend the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) return the Property to Lessor at Lessee’s expense to a destination within the continental United States specified by Lessor and terminate the Schedule; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule must first be paid in full, the provisions of Sections 6(c) and (d) and 7(c) hereof must be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property listed on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. IN THE EVENT LESSOR AND LESSEE HAVE NOT AGREED TO EITHER OPTION (1) OR (3) BY THE END OF THE INITIAL PERIOD OR IF LESSEE FAILS TO GIVE WRITTEN NOTICE OF ITS OPTION VIA CERTIFIED MAIL AT LEAST ONE-HUNDRED-EIGHTY (180) DAYS PRIOR TO THE TERMINATION OF THE INITIAL PERIOD, THEN OPTION (2) SHALL APPLY AT THE END OF THE INITIAL PERIOD. At the end of the extension period provided for in option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the end of any such successive six (6) month renewal period by either Lessor or Lessee giving to the other party at least thirty (30) days prior written notice of termination” (10) (Also see Marquette listing)
Pacific Western Bank Responds to Evergreen Non-Notification
Republic Bank, Bountiful, Utah Purchases and participates in extended Evergreen clause agreements.
They are legal in all states, except four states require advance notification be given to the lessee regarding termination of the lease and its residual (Four states: New York Rhode Island, Texas, Illinois (In Illinois, Consumer law, but may affect commercial, especially a proprietorship, partnership or personal guarantee)"
Tetra Financial Group, Salt Lake City, Utah Several routine "end of lease agreements, as alleged in Unified Container and Anderson Dairy (1)
“22. Mazuma Capital is associated with Republic Bank and obtains financing for its leases containing PRR provisions from Republic Bank.
23. Like what took place at Amplicon, Inc., the PRR scheme utilized by Matrix, Applied Financial, LLC, Mazuma Capital, Tetra Financial Group, LLC and others has begun to be exposed through litigation and negative press. See Deseret News (2) articles attached hereto as Exhibits B (2) and C. (3)”
Here is a case where New York courts threw out the Evergreen Clause as not legal in New York, even though venue appears to be Utah. (4))
(1) 36 main pdf
(2) Deseret News
(3) Exhibit C
(4) Salon Management case
(5) Mazuma Takes Exception on Being on Evergreen List
(6) Order to Dismiss with Prejudice
(7) Copy of filing, including contract
(8) Copy of Onset Contract with PPR purchase option
(9) Marlin Response to posting.
Twelve Attorneys Against Evergreen Abuse
The original intention of the Evergreen clause in an equipment leasing contract was to have an alternative to when the lessee did not exercise the residual at the end of the contract. Often the clause calls for an automatic additional twelve months when the residual is not resolved.
In most cases, the lessor notifies the lessee that the residual will be due, often ninety days in advance. However, often there is nothing in the contract that requires the lessor to notify the lessee regarding the expiration of the contract.
Contrarily, many small ticket lessors do not notify the lessee, and automatically continue the lease, often via an ACH or continued billing, which often goes unnoticed until many payments have already been made.
Leasing News would like to see an industry standard that lessees are notified in advance of the expiration of their contract regarding its termination. We support the clause, and the notification requirement is wide open, meaning 90, 60, even 30 days and by telephone or mail.
This list of attorneys agrees with this and will be available to lessees, sometimes able to help them without a fee, or at a reduced rate, in an effort to end the abuse of Evergreen clause leases.
Coston & Coston LLC
105 W. Adams Street
Chicago, Illinois 60603
(In 1998, he was elected to the United Association of Equipment
Leasing Board of Directors, and in 2003-04 was the first
attorney to become UAEL President, very active in his political party.)
Ronald J. Eisenberg
Schultz & Associates LLP
640 Cepi Drive, Suite A
Chesterfield, MO 63005
(636) 537-4645 x108
(636) 537-2599 (fax)
(Proven Leasing Litigator, well respected by all sides)
Ronald P. Gossett
Gossett & Gossett, P.A.
400 Seridan Street, Building I
(Many cases including NorVergence, Brican, among others, a winner)
Law Offices of Kenneth Charles Greene
5743 Corsa Avenue Suite 208
Westlake Village, California 91362
(Ken was involved in the formation of Leasing News and
represented it (pro bono) in the early days.)
Peter S. Hemar, Esq.
Hemar & Associates, Attorneys at Law
2001 Wilshire Blvd., Suite 510
Santa Monica, CA 90403
Telephone: (310) 829-1948
Fax: (310) 829-1352
(My firm supports the clause giving lessees advance
notice of the expiration of their contract.)
Brandon J. Mark
Attorney at Law, Admitted in Utah and Oregon
Parsons Behle & Latimer
201 South Main Street, Suite 1800
Salt Lake City, UT 84111
Direct Dial 801.536.6958
(His firm represents banks who buy leases, and his
clients refuse to buy these types of leases.)
Barry S. Marks
MARKS & ASSOCIATES, P.C.
Financial Center - Suite 1615
505 North 20th Street
Birmingham, Alabama 35203
P. O. Box 11386
Birmingham, Alabama 35202
fax 278.8905 (Direct) 251.8305 (Main)
(Well-known to the leasing industry, also Alabama Poet)
Barton, Klugman & Oetting
350 South Grand Ste. 2200
Los Angeles, CA 90071
Voice: (213) 617-6129
Fax: (213) 625-1832
Cell: (213) 268-8291
(Leasing News Advisor/Leasing News Legal Editor,
Well-Known top Leasing Litigator)
Peretore & Peretore, P.C.
191 Woodport Road
Sparta, New Jersey 07871
(Experienced leasing attorney, aggressive, author, secretary,
National Equipment Finance Association, ELFA, too)
Ellen Michele Stern
17630 El Mineral Rd
Perris, CA 92570
(Long time Southern California leasing attorney, well-respected)
Kevin E. Trabaris, Principal
707 Skokie Boulevard, Suite 600
Northbrook, IL 60062
Direct: (847) 205-4377
Mobile: (847) 840-4687
Fax: (848) 260-5768
"In my career, I’ve repeatedly seen this provision misused
by unscrupulous lessors and think it’s a bad idea for both
the lessee and the lessor."
Michael J. Witt, Esq.
MICHAEL J. WITT LAW OFFICES
4342 Oakwood Lane
West Des Moines, IA 50265
Tel: (515) 657-8706
Mobile: (515) 868-1067
Fax: (515) 223-2352
(Former Advanta Leasing
and Wells Fargo Equipment Finance attorney)
Michael Alch was appointed Senior Vice President/Sales Team Leader - E. F., PNC, Chicago, Illinois. “He will lead his team, as they provide equipment financing solutions to middle market companies in Illinois, Indiana, Michigan, Missouri and Wisconsin.” Previously, he was Vice-President-Relationship Manager, Fifth Third Bank (September, 2009 – May, 2014); Managing Director, Harrison Capital Corporation (November, 2008 – September ,2009); Vice President - Business Development, CIT Group, Inc. (August, 2005 – October, 2008); Senior Vice President, GE Capital Global Sponsor Finance (June, 2003 – July, 2005): Senior Vice President, JPMorgan Chase (FKA Banc One Leasing Corporation) (May, 1998 – May, 2003); Vice President, CIT Group, Inc. (January, 1981 – April, 1998); Assistant Treasurer, Wells Fargo (FKA Union Trust Company, (August, 1978 – January, 1981); Six Sigma Green Belt Certified. Dartmouth College - The Tuck School of Business at Dartmouth, Executive Award, Credit & Financial Management (1986 – 1989), Sacred Heart University - The John ("Jack") F. Welch College of Business, M.B.A., Finance (1980 – 1982). Allegheny College, B.A., Economics (1974 – 1978). Activities and Societies: Alpha Chi Rho
Greg Buchanan has been promoted to Divisional Finance Manager, Midmarket Sales at EMC, Denver, Colorado. He joined the firm, February, 2011 as Area Finance Manager, Enterprise Sales. Previously, he was Regional Manager, Finance , Oracle Credit Corporation (April, 2008 – February, 2011); Vice President, GE Healthcare (March, 2007 – March, 2008); Regional Vice President, Sales, First American Equipment Finance (November, 2003 – June, 2006); Founder,Milestone Capital, LLC (January, 2000 – September, 2003); National Account Manager, AT&T Capital (May, 1994 – January, 2000). Education: The University of British Columbia, BA, Economics (1991).
Scott Edwards was named Senior Vice President and Business Bank Sales Leader, Key Equipment Finance, Superior, Colorado.” In this role, Edwards will manage the business bank sales team as it provides equipment financing solutions to manufacturers and businesses. …Previously, Edwards was a Vice President/Commercial Lender for Key Bank and a direct originator for Key Equipment Finance. Before that, he worked for 18 years in a variety of commercial banking, vendor leasing sales and sales management positions with Colonial Pacific Leasing, NationsCredit, Textron Financial and Banner Bank. Edwards is a graduate of Oregon State University and the Pacific Coast Banking School.
Julie Fellows was named Chief Compliance Officer for Square Two Financial, Denver, Colorado. Previously, she was CEO and Founder, J.A. Fellows and Associates (February, 2014-May, 2014). She joined Key Equipment Finance, April, 1999, and was promoted to Senior Vice President, Portfolio Management (February, 2004-October, 2013). Previously she was Assistant Director, Capital Markets Group, Republic Financial Corporation (March, 1996 – March, 1999); National Bank Examiner, Office of the Comptroller of the Currency (1989 – 1996).
“She was actively involved on the University of Colorado Alumni Board of Directors for four years, and served as treasurer of the CU-Boulder Alumni Association an additional two years. As treasurer, she was a member of the executive committee, chaired the budget and finance Committee, and also served as a trustee on the University of Colorado Foundation board. Fellows also is involved with The Leadership Investment and its Leadership Ascent Program, and is a member of the organization’s Wise Women Council.” Education: University of Colorado at Boulder, Bachelor of Science (B.S.), Business Administration, Major - International Business with emphases in Finance and Marketing. London School of Business and Finance, International Finance and Politics, The Leadership Investment, Leadership Ascent Program, Organizational Leadership (2012 – 2013).
Amy (Gross) Gestal was hired as Vice President at Key Equipment Finance, Superior, Colorado. Previously she was at Leveraged Finance KeyBanc Capital Markets (January, 2013 – May,2014), She joined Key Equipment Finance May, 2006, as Lease Origination Administrator; promoted to Account Manager. Then in February, 2007, Vendor Service Representative. December, 2007, promoted to Inside Sales Rep (Bank Channel); July, 2009, Inside Sales Rep (Healthcare Vertical); 2011, Credit Analyst (Mid Ticket IT). Honors & Awards: KEF Spot Award-2012. KEF Spot Award-2011. KEF Sales Achievement Award-2010. Education: Kenyon College, Bachelor of Arts (B.A.), Political Science (2001–2005). Shaker Heights High School (1997–2001).
Jennifer Martin promoted to Mgr., Vendor Program Development and Originations Controls at Key Equipment Finance, Albany, New York . She joined the firm in 1995 and rose from originations manager to senior project manager, November, 2013. She is Communications Chair for the Key4Women Capital Region Steering Committee, Key4Women (February, 2007-Present) and investor/promoter for her husband's company Mad Hatter Productions (June, 2009-Present). Board Member, Duanesburg Area Community Center (2010–2010).Languages: Sign Languages. Duanesburg Heat AAU basketball, Founder, Treasurer (March 2012–Present). Additional Organizations: Twin Rivers Council; Boy Scouts of America Duanesburg Little League. College at St. Rose psychology (2001–2003), South Colonie (1987–1991).
Lynn Nichols joined Good Choices Good Life, Houston, Texas as Director of Development, “a new nonprofit which is dedicated to helping people “make better choices” in this increasingly complicated world. Via its new website, currently under development.” Previously she was Managing Partner, First Delta Financial, Inc. (October, 2011 – May, 2014); Senior Account Executive, Presidio Technology Leasing (2008 – 2010); VP Sales/South Central Region, GE Commercial Finance (2005 – 2008); National Account Manager, Forsythe Solutions Group (January, 1996 – January, 2005); National Account, Manager/Business Development Manager, IBM Global Finance (January, 1992–January, 1996).
Kenneth Pierson was hired as Senior Vice President, GM, Locomotives at CIT, Chicago, Illinois. Previously, he was Vice President, Global Sales and Marketing, Customer Service, Westinghouse Air Brake Tech.- Motive Power Division (June, 2010–May, 2014); Commercial Leader, Asia-Pacific (Managing Director, Asia-Pacific. Jan-2008 to Jan-2009) GE Transportation (January, 2004–June, 2010); Director, International Sales, GE Transportation Global Signaling (formerly Harmon Industries) (1997–2004). Languages: Japanese. Education: GE Crotonville Management School Certificate, Manager Development Course (2005–2005). University of Missouri-Kansas City, Master of Science, Accounting and Finance (2000–2003) 12 credits needed to graduate. Postponed studies for move to India. State University of New York at Stony Brook, Bachelor of Science, Electrical Engineering (1980–1984).
Paul Poljak was hired as VP Commercial Leasing Manager at NexTier Leasing, NexTier Bank, Butler, Pennsylvania; based in Pittsburg, Pennsylvania. Previously he was Managing Director, Allegheny Valley Bank (September, 2008–June, 2014); SVP, Pennsylvania Capital Bank (1996–2000).
Jeff Walters has been promoted to Chief Operating Officer at Ver, Billings, Montana. He joined the firm August, 2011 as Director of Operations. Previously, he was Chief Operating Officer Stillwater Leasing (June, 2007-June, 2011). Honors & Awards: Governor's Business Awards in Montana and North Dakota. Mayor's Award – Glendive, MT. Organizations: Billings Chamber of Commerce-Board of Directors. Education: St. John's University, BA, Business (1980–1984). Activities and Societies: Basketball
Leasing Industry Help Wanted
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Please see our Job Wanted section for possible new employees.
Beige Book---Lending Activity Increased
Federal Reserve Positive News
Overall lending activity increased throughout the nation. Roughly two-thirds of the Districts reported rising loan demand, with particular strength reported in New York and San Francisco. Credit quality and delinquency rates generally improved, while credit standards were mostly unchanged.
Banking and Financial Services
All Districts reporting on banking noted that lending activity increased. Loan demand was reported as strong by New York and San Francisco, while more modest growth was reported by Philadelphia, Richmond, Chicago, St. Louis, Kansas City, and Dallas. Commercial and industrial loans grew in the Philadelphia, Richmond, Chicago, and Kansas City Districts. On the consumer lending side, several Districts noted that the demand for auto loans was particularly strong, including Cleveland, Atlanta, Chicago, Dallas, and San Francisco, though such lending was reported to be up only slightly in the St. Louis District. Residential real estate lending increased in the Chicago, Kansas City, and Dallas Districts, while mortgage lending activity was reported as holding steady in the Atlanta and San Francisco Districts. By contrast, both Cleveland and Richmond reported slightly weaker mortgage lending activity, and New York and Richmond reported a decline in mortgage refinancing.
Credit quality was reported as strong in the San Francisco District, loan quality improved in the Philadelphia and Dallas Districts, and delinquency rates were somewhat lower in the New York, Cleveland, and St. Louis Districts. Credit quality was reported as stable by Richmond and Kansas City. Credit standards were seen as largely unchanged in the New York, Philadelphia, Cleveland, and Kansas City Districts, while St. Louis reported that credit standards for commercial and industrial loans had eased slightly.
• Contract Negotiations • Fraud Investigations
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For flat fee or commissions basis
email@example.com | ph 315-866-1167| www.jkrmdirect.com
(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)
June 18-20, 2014
China Leasing Summit 2014
Sixth Annual Conference
Crowne Plaza Beijing Chaoyang U-Town
Leasing News is one of the Media Sponsors
for the China Leasing Summit 2014
"The Chinese leasing industry is gearing up for an eventful year in 2014 as profound changes and broad reforms take full effect in China’s market. In this year leasing companies will see the full effects of programs such as the national value-added tax reform and the opening of the Shanghai (Pilot) Free Trade Zone, along with the rapid evolution of China’s transportation system."
"This summit will gather regional government officials, vendor representatives, national organizations and industry leaders to unveil statistical data on the 2013 China leasing market, foster a thorough understanding of the current status and developmental potential of the market. They will share the experience on product models and avoid the homogenization of products. There is no doubt that this summit will provide a premier platform for its delegates to establish strategic cooperative partnerships, expand business. We firmly believe that your outstanding industrial background and broad knowledge would contribute significantly to the quality and scope of this summit."
2014 Eastern Regional Meeting
Lord Baltimore Hotel
Canadian Finance and Leasing Association
The Fairmont Chateau Whistler
Whistler, British Columbia
Hyatt Regency San Antonio Riverwalk
123 Losoya Street
San Antonio, Texas 78205
September 19 - 20, 2014
The First Global Leasing Industry Competitiveness Forum
For More Information:
2014 53rd Annual Convention
Manchester Grand Hyatt
San Diego, CA
34th Annual AGLF Fall Conference
Loews Ventana Canyon
November 6 - 8
2014 Western Regional Meeting
Hyatt Regency Irvine
November 12 - 14
Commercial Finance Association
70th Annual Convention
Washington Marriott Wardman Park
November 16 -17
NJ Expo Regional
Teaneck, New Jersey
(Sunday evening- All Day Monday)
November 18 - 21, 2014
The Third Annual Operating Lease Conference
"Three prominent and qualified speakers have been added to the agenda.
They are: Stephan van Beek, Senior Director Sales & Marketing Development - EMEA, Oracle Financing, an expert on software leasing; Arnaldo Rodriguez, President – International Division, CSI Leasing, who is the epitome of having successfully globalized the product; and, Esteban Gaviria, CEO, Leasing Bancolombia, who leads the most successful bank-held operating leasing company in Latin America. I will chair the conference and also teach a two-day seminar preceding the conference."
For More Information:
CFA Related Conferences
CFA Network Calendar
ELFA ---2014 Schedule of Conferences, Workshops
and e-Learning Opportunities
##### Press Release ############################
De Lage Landen Team-Building Comes to Life
In Clipper Sailing Race, Build-A-Bike Benefit
Greater Philadelphia, Atlanta and Des Moines offices take part
WAYNE, Pa.,— As De Lage Landen employees from the U.S. sail the grueling Clipper Round the World Yacht Race, colleagues back at the office will live the team-building metaphor with a Build-A-Bike benefit for local chapters of the Boys & Girls Clubs in Philadelphia, Story County, Iowa, and Metro Atlanta, Friday, June 6, 2014.
“We are bringing the teamwork metaphor to life — on sea with the clipper race, and on land with the Build-A-Bike event,” said Jeffrey Berg, U.S. Country Manager of De Lage Landen (DLL), a global provider of asset based financial solutions. “This exercise is a tangible way to continue strengthening our ability to make connections throughout the business — developing from within so we can offer true partnerships with our customers and contribute to the local communities where we live and work.”
DLL ‘sailors’ nearing final leg
Nineteen of DLL’s 5,400 staff members in 36 countries were selected to train as amateur sailors for the Clipper race. The four Americans participating are:
Abdoulaye Tangara, inside sales executive with DLL’s Agco Finance office in Duluth, who sailed Leg 1 from London to Rio de Janeiro
Karen Ballard, credit manager for DLL in Wayne, who sailed
Leg 6 from Qingdao, China to San Francisco
Eric Riesberg, credit underwriter with DLL’s Agricredit in Des Moines, who just completed Leg 7 from San Francisco to New York
Corinne MacCarty, structured sales support analyst for DLL in Wayne, who will sail the final leg from New York to London (June 7th)
“Our objective to participate in the Clipper race was driven by our ambition to grow into a globally networked organization. Having one of our own members on each leg of the journey makes it very real and recognizable,” Berg explained. “In order for all U.S. employees to experience what the race stands for, they will take part in the original team-building exercise — Build-A-Bike.”
Eighty-six teams in Wayne, 22 in Des Moines and eight in Duluth will participate in the office event. Berg noted that each team represents a cross-functional section of the company, led by a leader they have never worked closely with, making teamwork a requirement to complete their tasks.
Blog posts by crew members and information can be found
on the One DLL website: www.one-dll.com.
De Lage Landen is a fully-owned subsidiary of Rabobank, offering asset financing and leasing to equipment manufacturers, dealers and distributors around the world. DLL focuses on a selection of industries including food and agriculture, healthcare, construction, transportation and industrial, office technology and mobility. For more information, visit www.delagelanden.com.
### Press Release ############################
Labrador Retriever Mix
Radnor, Pennsylvania Adopt-a-Dog
Age: 6 years as of 11/12
Weight: 71 lbs.
Children: Not recommended
Cats: Not recommended
“I’m Cedar and I am a handsome guy, aren’t I? I didn’t have a good start in life. I thought I was going to be happy in my first home, but it turned out to be very scary. I lived with 3 college boys and I don’t think they knew much about taking care of dogs. I lived in a home that was very busy and had lots of noises and many strange people coming in and out. I just didn’t adapt well to that environment. I was scared all the time and I didn’t get the attention I needed to help calm my fears and make me feel secure. Eventually I was given back to the shelter. I honestly think that was the best thing for me. It wasn’t an appropriate home for me. Unfortunately my experiences left me shy and fearful of some situations. Loud noises, cameras, power tools, etc. leave me hiding behind someone’s leg.
“You would be so impressed on how well I know my stuff! If there was a prize for best leash walker I’d win 1st prize. I don’t mean to brag or anything, but if you got the skill, flaunt it!
“I’ve been here for quite some time and I think it’s because I’m really shy when I meet new people. Not everyone is a social butterfly! But once you get to know me and give me lots of yummy treats I will be the sweetest guy you’ll ever find. Ellie is my best girl here at the shelter. When you visit the shelter you will see us romping and playing together. We are very loved by all the volunteers and staff members here. Everyone loves to take us for walks and give us lots of hugs and kisses. You will also be impressed that I know all of my obedience skills. Taking me for a walk is so easy; you can actually just stroll along with me and enjoy the experience. That’s one plus about having all the volunteers walk and work with me on a daily basis.
“If you’re not too sure about a shy guy just ask anyone here and they’ll tell you I’m amazing! I’m very comfortable with my friends at the shelter and they make my life joyful. Even though I am very much loved here, it’s still not the life I want to live. I hope someday someone with a huge heart, maybe someone who is a fellow wallflower, will finally come and take me home….. forever.”
Oh, by the way, I am really camera shy. Call me modest, but I hate getting my picture taken. Everyone says I’m silly because I am such a handsome boy, but no one can see it! You’ll have to come meet me in person to see how truly handsome I am!
*Cedar needs someone that is willing to come out to the shelter and get to know him before going home. He’s had too much heartbreak in his life and needs to feel safe and comfortable with his people.
328 Upper Gulph Road
Radnor, PA 19087
For adoption inquires – firstname.lastname@example.org
Please note: If you are using a GPS to drive to Francisvale, you may need to enter the street address as 328 NEW GULPH Road. or, use GPS coordinates N40.06127 W75.35998.
Hours of operation:
Monday through Sunday by appointment only.
Adopt a Pet
Leasing Icon Jeff Allard’s Latest Film “Ping Pong”
Starring Susan Sarandon
“I miss the business much, especially my days at Warren Capital and Bay View. I've got my latest feature film, “PING PONG SUMMER,” starring Susan Sarandon is coming out in select theaters and nationwide On Demand on 6/6. Maybe you can give us a shout-out in your next edition! You can also rent/buy two other films I produced last year, “HOLY GHOST PEOPLE” and “LIARS ALL.”
Enough plugs for now!
Here's the trailer for “PING PONG SUMMER”
This Day in History
1498 - Christopher Columbus left on his third voyage of exploration.
1712 - The Pennsylvania Assembly banned the importation of slaves.
1755- Birthday of Nathan Hale. The American Patriot was caught behind lines gathering troop movements by General William Howe, who ordered him to be hung in the morning, as he was a spy. His alleged last words have become a symbol of American Patriotism: “I only regret that I have but one life to lose for my country." They were attributed to a news story printed in the 19th century, and were not heard by contemporaries of his time, nor commented upon. A 1777 newspaper article reported Hale as saying that “if he had ten thousand lives, he would lay them all down, if called to it, in defense of his injured, bleeding country.'' Four years later another newspaper story quoted Hale's last words as: ". . . my only regret is, that I have not more lives than one to offer in its service.'' Hull's 1848 memoirs give us the pithier version we know today: “I only regret that I have but one life to lose for my country.'' According to Captain Frederick Mackenzie, a British officer who witnessed Hale's death, he may have been young and courageous, but he never said these words. According to Mackenzie's diary, he wrote that Hale's last words were: “ It is the duty of every good officer to obey any orders given him by his commander-in-chief” James A. Barnes,” Myths of the Bryan Campaign,” Mississippi Valley Historical Review (1947). Also see:
1756-Birthday of American painter John Turnbull, Lebanon, Conn. lower half of:
1769 - Daniel Boone first began to explore the present-day Kentucky.
1775 - The United Colonies changed their name to United States.
1776 - Richard Henry Lee of Virginia proposed to the Continental Congress the resolution calling for a Declaration of Independence: that "these United Colonies are, and of right ought to be, free and independent States..." Congress delayed the vote on the resolution until July 1
1816 - The temperature reached 92 degrees at Salem, MA during an early heat wave, but then plunged 49 degrees in 24 hours to commence the famous "year without a summer".
1828 - A party led by Jebediah Smith completed a journey down the Klamath River and were on the verge of starvation when they were visited by Indians who brought food. Smith's party proceeded north to Oregon and most of the party was killed by Umpqua Indians. Smith was killed in 1831 by Comanches on the Cimarron River. Smith’s party was the 1st white people to see Lake Earl, the biggest lagoon on the West Coast.
1831- “People of Color” Convention held for the first time.
1844 – The Young Men’s Christian Association, the YMCA, was founded in London.
1862-Confederate gunboats engaged a Union flotilla near Memphis, TN. As crowds of spectators watched from the riverbanks, the outgunned Confederates were defeated. The city of Memphis surrendered shortly before noon of that day, effectively opening up the Mississippi region. The war would rage on as the Union Army through shear source of "numbers of soldiers" would prevail.
1872- Susan B. Anthony tests the rights of women and black males to vote under the 14th and 15th amendment, registering and voting in Rochester, New York. She would be arrested, tried, and sentenced to pay a fine. She refused. The judge backed down, fearing she would take this to the Supreme Court for appeal, but nevertheless, the votes were all disqualified and both women and blacks would not be allowed to vote in this century.
1877—Birthday of Meta Vaux Warrick Fuller, Afro-American sculptor. After success in Paris, she faced race and sex prejudice on her return to the U.S. In 1913, she began using Afro-Americans as models and for the next 50 years, she produced major pieces that are part of the permanent collections at a number of museums and universities. Died March 18, 1968.
1889 -- Great Fire in Seattle, Washington destroys 25 downtown blocks.
1892 - Birthday of bandleader Ted Lewis, Circleville, OH
1894 - One of the greatest floods in U.S. history occurred as the Willamette River overflowed to inundate half of the business district of Portland, OR.
1899 - Birthday of pianist William “Fats” Jefferson, Waco, TX
1889--- Bryn Mawr College awarded the first graduate fellowship to a woman in the history of the United States. It went to Emily Greene Balch (B. 01-08- 1867) for "prosecuting sociological studies." Balch went on to win the Nobel Peace Prize in 1946. Half the human race is a terrible thing to waste... Bryn Mawr was under the direction of M. Carey Thomas who developed the college to an academic par with Harvard University.
1902—Birthday of band leader Jimmy Lunceford
1904 – Birthday of Helen McCloy (1904-1993), American mystery writer, first woman to serve as president of Mystery Writers of America. In 1953, she received Edgar for her criticism.
1907 – Birthday of New York Yankees Hall of Fame catcher Bill Dickey, in Little Rock, AR. An outstanding catcher and team leader of the Yankees’ dynasty of the 1930s that featured Lou Gehrig and Joe DiMaggio. Later, as a coach, he personally tutored a young rookie named Lawrence Peter Berra into becoming a Hall of Famer catcher himself. Dickey died in Little Rock on November 12, 1993. In honor of both men, their number 8 was retired by the Yankees and are so honored in Monument Park in Yankee Stadium.
1918-Casey Stengel returned to Ebbets Field for the first time since being traded from the Brooklyn Dodgers to the Pittsburgh Pirates over the winter. Stengel celebrated the occasion by striding to the plate for his first at-bat, calling time, doffing his cap and letting a live bird fly out. Fans broke into laughter. He was giving them the bird.
1925-Birthday of trombonist Al Grey, Aldie, VA, died March 24,2000
1930-Dillard University is charted in New Orleans, LA, combining two private institutions, Straight College and New Orleans University. The two schools joined forces to form a school affiliated with the United Methodist Church and the United Church of Christ that would serve a coeducational and predominantly black student body.
1931-Birthday of guitarist Grant Green, St. Louis, Mo.
1933-Richard M. Hollingshead, Jr. opened America's first drive-in movie theater in Camden, NJ. At the height of their popularity in 1958, there were more than 4,000 drive-ins across America. In the 1990s, fewer than 600 remained opened.
1934- President Franklin D. Roosevelt signed the Securities Exchange Act that established the SEC. Wall Street had operated almost unfettered since the end of the eighteenth century. However, the stock market crash of 1929 necessitated regulation of the exchanges. The Securities and Exchange Commission is composed of five members appointed by the President of the US.
1939-- Singer Gary (US) Bonds, whose real name is Gary Anderson, was born in Jacksonville, Florida. Bonds had a string of energetic dance records in the early 1960's, the biggest of which was "Quarter to Three," which reached number one in 1961. Bonds' career was revived in 1981 by Bruce Springsteen. "The Boss" wrote "This Little Girl of Mine," which became Gary (US) Bonds' first hit in nearly 20 years. Bonds' comeback album, "Dedication," also made the charts.
1942-Congress of Racial Equality founded.
1942-Birthday of Marian Wright Edelman, activist and found of the Children's Defense Fund.
1943 - The worst of the L.A. Zoot Suit Riot violence occurs as soldiers, sailors, and marines from as far away as San Diego travel to Los Angeles to join in the fighting. Taxi drivers offer free rides to servicemen and civilians to the riot areas. Approximately 5,000 civilians and military men gather downtown. The riot spreads into the predominantly African American section of Watts.
1944- In the early-morning hours Allied forces landed in Normandy on the north coast of France. In an operation that took months of planning, a fleet of 2,727 ships of every description converged from British ports from Wales to the North Sea. Operation Overlord involved 2,000,000 tons of war materiele, including more than 50,000 tanks, armored cars, jeeps, trucks and half-tracks. The US alone sent 1,700,000 fighting men. The Germans believed the invasion would not take place under the adverse weather conditions of this early June day, especially with their number one General George S. Patton employed elsewhere. But as the sun came up the village of Saint Mèere Eglise was liberated by American parachutists, and by nightfall the landing of 155,000 Allies attested to the success of D-Day. The long-awaited second front had at last materialized. [Ralph Mango’s father, Staff Sgt. Vincent A. Mango, was a B-25 tail gunner in a squadron that flew a decoy mission that day over Calais. They took significant anti-aircraft fire but they did not lose any planes. He completed 50 missions.]
General Patton joined the war with his tank brigade, pushing toward the Rhine River before the other generals told him he couldn't do that.
1944-Birthday of pianist Monty Alexander, Kingston, Jamaica
1945--McTUREOUS, ROBERT MILLER, JR. Medal of Honor
Rank and organization: Private, U.S. Marine Corps. Born: 26 March 1924, Altoona, Fla. Accredited to: Florida. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty, while serving with the 3d Battalion, 29th Marines, 6th Marine Division, during action against enemy Japanese forces on Okinawa in the Ryukyu Chain, 7 June 1945. Alert and ready for any hostile counteraction following his company's seizure of an important hill objective, Pvt. McTureous was quick to observe the plight of company stretcher bearers who were suddenly assailed by slashing machinegun fire as they attempted to evacuate wounded at the rear of the newly won position. Determined to prevent further casualties, he quickly filled his jacket with hand grenades and charged the enemy-occupied caves from which the concentrated barrage was emanating. Coolly disregarding all personal danger as he waged his furious 1-man assault, he smashed grenades into the cave entrances, thereby diverting the heaviest fire from the stretcher bearers to his own person and, resolutely returning to his own lines under a blanketing hail of rifle and machinegun fire to replenish his supply of grenades, dauntlessly continued his systematic reduction of Japanese strength until he himself sustained serious wounds after silencing a large number of the hostile guns. Aware of his own critical condition and unwilling to further endanger the lives of his comrades, he stoically crawled a distance of 200 yards to a sheltered position within friendly lines before calling for aid. By his fearless initiative and bold tactics, Pvt. McTureous had succeeded in neutralizing the enemy fire, killing 6 Japanese troops and effectively disorganizing the remainder of the savagely defending garrison. His outstanding valor and heroic spirit of self-sacrifice during a critical stage of operations reflect the highest credit upon himself and the U.S. Naval Service.
1946 –Birthday of Janet Lennon at Culver City CA, singer (Lennon Sisters)
1946-The Basketball Association of America was founded at a New York meeting of hockey team owners and arena managers interested in having their buildings used on open dates. The BAA played three seasons (1946-47, 1947-48, 1948-49), after which it merged with the National Basketball League, founded in 1937, to form the National Basketball Association. Three original BAA teams remain: The Boston Celtics, The Golden State Warriors (originally the Philadelphia Warriors) and the New York Knicks.
Riders in the Sky - Vaughn Monroe
Again - Doris Day
Some Enchanted Evening - Perry Como
Lovesick Blues - Hank Williams
1951-HANSON, JACK G. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company F, 31st Infantry Regiment. Place and date: Near Pachi-dong, Korea, 7 June 1951. Entered service at: Galveston, Tex. Born: 18 September 1930, Escaptawpa, Miss. G.O. No.: 15, 1 February 1952. Citation: Pfc. Hanson, a machine gunner with the 1st Platoon, Company F, distinguished himself by conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty in action against an armed enemy of the United Nations. The company, in defensive positions on two strategic hills separated by a wide saddle, was ruthlessly attacked at approximately 0300 hours, the brunt of which centered on the approach to the divide within range of Pfc. Hanson's machine gun. In the initial phase of the action, 4 riflemen were wounded and evacuated and the numerically superior enemy, advancing under cover of darkness, infiltrated and posed an imminent threat to the security of the command post and weapons platoon. Upon orders to move to key terrain above and to the right of Pfc. Hanson's position, he voluntarily remained to provide protective fire for the withdrawal. Subsequent to the retiring elements fighting a rearguard action to the new location, it was learned that Pfc. Hanson's assistant gunner and 3 riflemen had been wounded and had crawled to safety, and that he was maintaining a lone-man defense. After the 1st Platoon reorganized, counterattacked, and rescued its original positions at approximately 0530 hours, Pfc. Hanson's body was found lying in front of his emplacement, his machine gun ammunition expended, his empty pistol in his right hand, and a machete with blood on the blade in his left hand, and approximately 22 enemy dead lay in the wake of his action. Pfc. Hanson's consummate valor, inspirational conduct, and willing self-sacrifice enabled the company to contain the enemy and regain the commanding ground, and reflect lasting glory on himself and the noble traditions of the military service.
1954—Birthday of actor/playwright Harvey Feldstein, born Brooklyn, New York. Tonies for “Hairspray,” “La Cage aux Foiles” and “Torch Song Trilogy.”
1955--- Bill Haley & Comets, "Rock Around the Clock" hits #1
1956 - Gogi Grant (born Audrey Brown) reached the top spot on the "Billboard" singles chart for the first and only time in her career. Her hit, "The Wayward Wind", stayed at the top of the top-tune tabulation for eight weeks and on the music charts for 22 weeks. It was her second record release. The first, in October, 1955, was "Suddenly There's a Valley" which climbed to number nine.
1956--Gene Vincent's recording of "Be Bop a Lula" was released. The song was co-written by Vincent and (Sheriff) Tex Davis, a deejay at a Norfolk, Virginia radio station. "Be Bop a Lula" was a hit on both sides of the Atlantic, selling a million copies. Vincent never was able to match the success of his initial hit. He died in 1971 of a seizure brought on by a bleeding ulcer.
1956—Birthday of soprano saxophonist Kenny G, born Kenny Gorelick, at Seattle, Washington.
1956---Birthday of Hall of Fame tennis player Bjorn Borg, born Sodertalje, Sweden.
Love Letters in the Sand - Pat Boone
A Teenager's Romance/I'm Walkin' - Ricky Nelson
A White Sport Coat (And a Pink Carnation) - Marty Robbins
Four Walls - Jim Reeves
1960-- Tony Williams of the Platters left the group for a solo career. Williams was the lead singer on the Platters' big hits in the '50s - "Only You," "The Great Pretender" and "Smoke Gets in Your Eyes," among others. In the 1970's, Williams and Buck Ram, manager of the Platters, battled in court over who had the right to use the group's name. Ram won the case, but both later toured with groups billed as the Platters.
1960-- Roy Orbison's "Only the Lonely" was released. It would reach number two on the Billboard Hot 100 and inspire Bruce Springsteen to write "Born to Run."
1960-- The RIAA presents Bing Crosby with a special platinum record honoring the sale of his 200 millionth record, a total which includes not only 125 albums but 2,600 singles!
1962--- The Beatles audition for EMI, recording four demos, the first material the band ever recorded at Abbey Road: three original compositions called "Love Me Do," "Ask Me Why," and "P.S. I Love You," and a cover of the standard "Besame Mucho." Producer George Martin is not at the session, but is called in by engineer Norman "Hurricane" Smith when he hears something he likes in "Love Me Do." Martin is not impressed with the group's songwriting, scruffy outfits, and even scruffier equipment (one of the band's amps blows during the audition), and he tells them so, finishing, "Look, I've laid into you for quite a time, you haven't responded. Is there anything you don't like?" To which George quips, "I don't like your tie!" The tension is broken, and Martin, charmed by the group's personality, agrees to work with them. (Though he later says, "They were pretty awful. I understand why other record companies turned them down.") The band members are paid US $12 each for the session; drummer Pete Best, whose skills Martin remains unimpressed with, would soon be sacked from the group.
1964-- The Dixie Cups' "Chapel of Love" hits #1
1965 - General Westmoreland requests a total of 35 battalions of combat troops, with another nine in reserve. This gave rise to the "44 battalion" debate within the Johnson administration, a discussion of how many U.S. combat troops to commit to the war. Westmoreland felt that the South Vietnamese could not defeat the communists alone and he wanted U.S. combat troops to go on the offensive against the enemy. His plan was to secure the coastlines, block infiltration of North Vietnamese troops into the south, and then wage a war of attrition with "search and destroy" missions into the countryside, using helicopters for rapid deployment and evacuation. Westmoreland had some supporters in the Johnson administration, but others of the president's advisers did not support Westmoreland's request for more troops, because they disagreed with what would be a fundamental change in the U.S. role in Vietnam. In the end, Johnson acquiesced to Westmoreland's request; eventually there would be over 500,000 U.S. troops in South Vietnam. [This dichotomy is well discussed in Halberstam’s “The Best and The Brightest.”]
Help Me, Rhonda - The Beach Boys
Wooly Bully - Sam the Sham and The Pharoahs
Crying in the Chapel - Elvis Presley
What's He Doing in My World - Eddy Arnold
1966-Civil rights activist Stokely Carmichael launches “Black Power” Movement. Died Nov 15, 1998.
1966 -- Author Truman Capote holds famous "Black & White Ball" — widely regarded as most glittering bash of the decade.
1966 - No. 1 Billboard Pop Hit: "Paint It Black," The Rolling Stones.
1966- The Turtles and Oxford Circle at the Fillmore Auditorium in San Francisco.
1966--- The Beatles record "Eleanor Rigby"
1966 – Black activist James Meredith was shot and wounded as he walked along a Mississippi highway en route to encouraging black voter registrations.
1968-New York Senator Robert Francis Kennedy dies after being shot while campaigning for president. There are many who believe this was a conspiracy, and there are many sites on the internet making all kinds of noise, but history is full of loners who manage to assassinate famous people, including American presidents. For ABC-TV News, I attended several weeks
of Sirhan Sirhad trial. My impression was he was not too bright, and was
just worked his way through the crowd to get close enough so he could
1968-McDONALD, PHILL G. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company A, 1st Battalion, 14th Infantry, 4th Infantry Division. place and date: Near Kontum City, Republic of Vietnam, 7 June 1968. Entered service at: Beckley, W. Va. Born: 13 September 1941. Avondale, W. Va. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Pfc. McDonald distinguished himself while serving as a team leader with the 1st platoon of Company A. While on a combat mission his platoon came under heavy barrage of automatic weapons fire from a well concealed company-size enemy force. Volunteering to escort 2 wounded comrades to an evacuation point, Pfc. McDonald crawled through intense fire to destroy with a grenade an enemy automatic weapon threatening the safety of the evacuation. Returning to his platoon, he again volunteered to provide covering fire for the maneuver of the platoon from its exposed position. Realizing the threat he posed, enemy gunners concentrated their fire on Pfc. McDonald's position, seriously wounding him. Despite his painful wounds, Pfc. McDonald recovered the weapon of a wounded machine gunner to provide accurate covering fire for the gunner's evacuation. When other soldiers were pinned down by a heavy volume of fire from a hostile machine gun to his front, Pfc. McDonald crawled toward the enemy position to destroy it with grenades. He was mortally wounded in this intrepid action. Pfc. McDonald's gallantry at the risk of his life which resulted in the saving of the lives of his comrades is in keeping with the highest traditions of the military service and reflects great credit upon himself, his unit, and the U.S. Army.
1970---MURRAY, ROBERT C. Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company B, 4th Battalion, 31st Infantry, 196th Infantry Brigade, 23d Infantry Division. Place and date: Near the village of Hiep Duc, Republic of Vietnam, 7 June 1970. Entered service at: New York, N.Y. Born: 10 December 1946, Bronx, N.Y. Citation: S/Sgt. Murray distinguished himself while serving as a squad leader with Company B. S/Sgt. Murray's squad was searching for an enemy mortar that had been threatening friendly positions when a member of the squad tripped an enemy grenade rigged as a booby trap. Realizing that he had activated the enemy booby trap, the soldier shouted for everybody to take cover. Instantly assessing the danger to the men of his squad, S/Sgt. Murray unhesitatingly and with complete disregard for his own safety, threw himself on the grenade absorbing the full and fatal impact of the explosion. By his gallant action and self-sacrifice, he prevented the death or injury of the other members of his squad. S/Sgt. Murray's extraordinary courage and gallantry, at the cost of his life above and beyond the call of duty, are in keeping with the highest traditions of the military service and reflect great credit on him, his unit, and the U.S. Army.
1972 – NBC broadcast journalist (Today Show) Natalie Morales was born.
1971 – Ed Sullivan said goodbye. He reportedly lived in my home town of Port Chester, New York, married to a Jewish lady who reportedly ruled the roost at home. As a newspaper columnist with The New York Daily News, he was very popular and it was told a mention in his column was very important for your career. When his variety shows, "The Ed Sullivan Show" and “Toast of the Town” appeared on television, with him as the host, due to his fame as a columnist, he was able to attract the top stars that were originally afraid of the medium. He also brought in new talent and had a real circus from Polish dancing bears, a little mouse named Topo Gigio, and “discovered” Elvis Presley, The Beatles, The Dave Clark Five, the comedy of Jackie Mason, John Byner, Rich Little, Allen King, Richard Pryor and so many more. Gladys Knight and The Pips and singer Jerry Vale appeared on the final show. "The Ed Sullivan Show" had been a showcase for more than 20 years for artists who ranged from Ethel Merman to Ella Fitzgerald, from Steve and Eydie to the Beatles. "The Ed Sullivan Show" was the longest running variety show on TV…must see TV every Sunday night.
1973 - Barry White was awarded a gold record for "I'm Gonna Love You Just a Little More Baby". It was his first hit and his first of five number one million-sellers. White began recording in 1960. He formed the group, Love Unlimited, in 1969 and married one of the group's singers, Glodean James. He also formed the 40-piece Love Unlimited Orchestra which had the number-one hit, "Love's Theme" in 1973.
My Love - Paul McCartney & Wings
Daniel - Elton John
Pillow Talk - Sylvia
Satin Sheets - Jeanne Pruett
1974-- Billy Swan, "I Can Help"
1977 - Severe thunderstorms with large hail and winds to 100 mph caused one million dollars damage around Norfolk, VA. A forty-two foot fishing boat capsized near the Chesapeake Bay Bridge Tunnel drowning 13 of the 27 persons on board.
1977--- Stevie Wonder appears, sponsored by Billboard, as a guest music lecturer at a UCLA symposium, talking about his early Motown days and illustrating his points with performances.
1978 - Proposition 13 passed in California. Voters joined Senator Howard Jarvis in cutting property taxes by 57 percent. This was seen as the birth of a taxpayer's revolt against high taxes and excessive government spending. It also spelled the end of quality in the higher education system in California, and brought the secondary schools from number one to number thirty and lower in score testing today.
1978-“20/20” premiered on TV. An hourly news magazine developed by ABC to compete with CBS's “Sixty Minutes”. Its original hosts, Harold Hayes and Robert Hughes, were cut after the first show and replaced by Hugh Downs. Barbara Walters became co-anchor in 1984. the show consisted of investigative and background reports. Contributors to the show have included Tom Jarriel, Sylvia Chase, Gerald Rivera, Thomas Hoving, John Stossel, Lynn Sher and Stone Phillips.
Bette Davis Eyes - Kim Carnes
Being with You - Smokey Robinson
Stars on 45 medley - Stars on 45
Friends - Razzy Bailey
1986-Manager Steve Boros of the San Diego Padres was ejected before the first pitch of a game with the Atlanta Braves when he attempted to give umpire Charlie Williams a videotape of a disputed play in the previous night's game, a 4-2 Braves victory.
1988 - Seventeen cities in the north central U.S. reported record high temperatures for the date, including Williston, ND with a reading of 104 degrees. Thunderstorms in Florida produced wind gusts to 65 mph which damaged two mobile homes northwest of Melbourne injuring six people.
Rock On - Michael Damian
Soldier of Love - Donny Osmond
Wind Beneath My Wings - Bette Midler
Where Did I Go Wrong - Steve Wariner
1996 -San Francisco became the first city in the nation to sue the tobacco industry.
1998 - "The Boy is Mine", by Brandy and Monica, zoomed to number 1 on the "Billboard" pop chart. It ruled the Hot 100 roost for 13 weeks -- putting it in the top ten of longest-running #1 singles in the modern rock era.
1998 – “Sex and the City” premiers on TV. HBO’s modern comedy of manners focused on four fashionable women navigating the perilous waters of New York City’s dating scene. Starred Sarah Jessica Parker (Carrie Bradshaw), Kristin Davis (Charlotte York), Kim Cattrall (Samantha Jones), and Cynthia Nixon (Miranda Hobbes) More than 10 million viewers tuned in to watch the 94th and final episode on Feb 23, 2004.
2000-- Thanks to the Angels' video crew playing a clip from the 1994 movie "Ace Ventura, Pet Detective" on the JumboTron, the Rally Monkey is born. With the words "Rally Monkey" superimposed over a monkey jumping up and down in the Jim Carrey movie, the crowd goes wild as Anaheim scores two runs in the bottom of the ninth to beat the Giants, 6-5.
2003-- Insisting the corked bat, designed to put on home run displays during batting practice, was accidentally used in the Devil Rays' game, Cubs' slugger Sammy Sosa is suspended for eight games by Major League Baseball. Bob Watson, baseball's Vice President of On-Field Operations, agreed the Chicago's outfielder use of an illegal bat was an "isolated incident," but one that still deserved a penalty.
2004 – Phylicia Rashad became the first African-American actress to win a Tony award for a leading dramatic role in a revival of “A Raisin in the Sun.”
2011 – After days of denials and spin regarding someone breaking into his Internet account, Rep. Anthony Weiner, D-NY, confessed that he had tweeted a lewd photo of his shirtless self to a woman and admitted to “inappropriate” exchanges with six women. He soon resigned shortly thereafter.
NBA Finals Champions This Date
1976 Boston Celtics
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