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Leasing News is a web site that posts information, news, and
entertainment for the commercial bank, finance and leasing industry


Wednesday, June 25, 2014

Today's Equipment Leasing Headlines

May 8 - Leasing News: Direct Capital Sold to CIT
   Now Confirmed in CIT Press Release
      Classified Ads---Credit
ELFA: May New Business Falls 14%
  Readers Respond
Mortgage rates seem immune from taper,
   even if increased--SNL Financial Report
    Leasing Industry Ads---Help Wanted
Sales Make it Happen by Mr. Terry Winders, CLP
    The Use of Lease Proposals
          Leasing Proposals
  "Commitment to Lease" Agreements
      Aggregate Funding Sources
(Online: connects lessees, lessors, and vendors)
        Leasing Portals
(Business to Business including Finance/Leasing)
    Chart--Tech World Remains Male-Dominated
      November 11-13 Middle East Leasing Summit
   Labrador Retriever/Box Mix
    Dover, New Hampshire  Adopt-a-Dog
  Gigajob Joins Classified Ads--Employment Web Sites
News Briefs--- 
Joint Accounting Rule on Leases May Not Happen in 2014
  Anybody want a bank building?
   Umpqua Bank Announces Consolidation of 27 Stores
    as Part of Merger Integration
     U.S. Bank Closes on Acquisition of Chicago-Area Charter One
      Bank Franchise
       State Bank Financial/Georgia-Carolina Bancshares Announce Merger
        Audit: More than 120,000 veterans waiting or never got care
         FAA bans drones from delivering packages
          CBS Announces Fall Premiere Dates in September and October
           Nielsen's top programs for June 16-22

Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months (Be Careful of Doing Business)
Leasing News Icon for Android Mobile Device

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
      California Nuts Brief---
       "Gimme that Wine"    
          This Day in American History
           Daily Puzzle
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.

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May 8 - Leasing News: Direct Capital Sold to CIT
Now Confirmed in CIT Press Release

This is an excellent entrance for CIT, bringing them back into the small ticket market place, and improving their vendor representation.  Perhaps increased competition for Ascentium, Financial Pacific, and Marlin, to name a few. The difference is Direct Capital and CIT are not active in the small ticket third party origination marketplace. Editor.

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

CIT Agrees to Acquire Technology-Driven Lender Direct Capital

Expands Small Business and Middle-Market Lending and Leasing Capabilities Through Proprietary Online Lending Platform

NEW YORK & NEW HAMPSHIRE)--CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc. (NYSE: CIT), a leading provider of commercial lending, leasing and advisory services, entered into an agreement to acquire Portsmouth, New Hampshire-based Direct Capital Corporation, a provider of financing to small and mid-sized businesses. The transaction will expand CIT’s small business and middle market lending and equipment leasing capabilities and will allow Direct Capital’s highly experienced team of professionals to offer CIT’s broad range of products and services to its customers.

As part of the acquisition, Christopher J. Broom, Co-founder and Chairman of Direct Capital, and James P. Broom, Chief Executive Officer of Direct Capital, will continue to lead the business. The acquisition is expected to close in the third quarter following the satisfaction of regulatory requirements and contractual conditions to closing. Terms of the agreement were not disclosed.

Nelson J. Chai
President CIT Group,
Chairman/CEO, CIT Bank

“Through its customer-centric approach and unique value-added technology platform, Direct Capital has established itself as a leader in providing small and mid-sized businesses fast, flexible and affordable financing,” said Nelson J. Chai, President of CIT Group Inc., Chairman and CEO of CIT Bank. “Direct Capital’s proprietary online lending platform, LendEdge, will complement our existing small business and mid-market customer offerings as we continue to provide financing to these important sectors of the U.S. economy. I look forward to working with Chris, Jim and the entire Direct Capital team and building on their success.”

Since its founding in 1993, Direct Capital has provided more than 80,000 small and mid-sized businesses over $2.25 billion in equipment, franchise and vendor financing and lending solutions to grow their businesses. Direct Capital has assets of approximately $500 million and employs 250 individuals. In 2013, it was named to the Inc. 500/5000 and Monitor 100 lists of top growth companies.

Christopher J. Broom
Co-Founder, Chairman, Direct Capital

Christopher J. Broom said, “We are excited to join the CIT family, which will allow us the opportunity to build upon our established business model of providing small and mid-sized businesses access to the capital they need to grow and prosper. CIT understands the importance of customer service and has built a reputation over the past 100 years of serving these sectors.”

About Direct Capital Corporation
Established in 1993, Direct Capital is a financial technology company that delivers financial solutions for small and medium sized businesses, franchisors, and equipment and technology sellers. The company is headquartered in Portsmouth, N.H. and operates offices in New York, California, and Georgia.

About CIT Bank

Founded in 2000, CIT Bank (Member FDIC, Equal Housing Lender) is the U.S. commercial bank subsidiary of CIT Group Inc. (NYSE: CIT). It provides lending and leasing to the small business, middle market and transportation sectors. CIT Bank ( offers a variety of savings options designed to help customers achieve their financial goals. As of March 31, 2014, it had over $13 billion of deposits and more than $16.5 billion of assets.

About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC),, offers a variety of savings options designed to help customers achieve their financial goals.  

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

May 8, 2014 Leasing News
Seeking Confirmation: Direct Capital Sold to CIT



Classified Ads---Credit

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

Credit, syndication, workout experience
Exceptional work ethic, common sense coupled with practical experience in equipment finance, consumer, commercial. Can interact with all levels of borrowers and intermediaries. Not an originator – but can help sales team close – great up sell ability. Will relocate for the right opportunity AND can work

Orlando, Florida
As a Commercial Credit Analyst/Underwriter, I have evaluated transactions from sole proprietorships to listed companies, across a broad spectrum of industries, embracing a multitude of asset types. Sound understanding of balance sheet, income statement and cash flow dynamics which impact credit decisions. Strong appreciation for credit/asset risk.
407 430-3917

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:



ELFA: May New Business Falls 14%
Readers Respond

(Chart: Leasing News)

The Equipment Leasing and Finance Association (ELFA) MFLI-25 Report shows May new business volume at $6.9 billion, following from its high of the year in April at $8 million.

The news echoes the Equipment Leasing & Finance Foundation June Confidence index that fell from May index of 65.4 to 61.4.

Leasing News asked readers for a comment:

“Hard to get deals done. Demand spotty."
- George Booth, Owner
Black Rock Capital

“A lot of people that I spoke to in our industry hurt last month
and are feeling it worse this month.”
- Rich Vohra, Vice President of Sales,
LEAF Commercial Capital

“There appears to be a large drop in May financing volume; however, a one month decline is too early for predicting trends. I would caution everyone to remember how cyclical business can be. We have been on an upswing for 4 years. That trend cannot keep up forever. Also, when one sees a one measurement, the components of that data need to be reviewed. In short, was that measurement indicative of a true business cross section. Also, summer, in normal economic times, tends to have a slowdown in certain business segments.”
- Allan Levine, President
Madison Capital, LLC

“In the segments that we are focusing on in there is much optimism; the infrastructure play is pistol hot. For example, whatever your view on California high speed rail, it’s certainly stimulative--- and work is under way. We also lease equipment being used to clear orchards as farmers change crops due to the water shortage; this is a very active business, too. Consistently I find our business doesn’t seem to track with the macro statistics, as we are opportunists, working selectively in deals where we add value. We may see little when the ‘industry’ is robust, and vice versa.

“I think these stats are useful if you are a multi-billion dollar plain vanilla lessor trying to figure out whether to holler at your sales force. For the rest of us, I feel like there are always deals for creative souls:  equipment still wears out even in the worst recession, and opportunity abounds, but it doesn’t come in over the transom.”
- Paul Weiss, Principal
Panthera Leasing

“Our clients and contacts continue to report that delinquency is at an all-time low. Q2 recovery and remarketing volume has remained slow until June where we experienced a small but noticeable increase of FMV requests resulting in repossession. I feel it’s too soon to identify any trend.

“Kit, look at this mortgage data chart that seems to be in line with leasing volume:
- Ed Castagna, CEO
InPlace Auction



Mortgage rates seem immune from taper, even if increased
SNL Financial Report
 By Hina Nawaz and Zach Fox

Mortgage rates continue to move sideways as the Federal Reserve stays the course on its efforts to taper quantitative easing programs.

By this point, market observers feel the taper to the central bank's third bout of quantitative easing has been fully priced into mortgage rates.

"The cuts to QE3 are priced in, but what's unclear is how fast the economy is growing," said Dan Green, publisher of

Even a much more drastic cut to the Fed's purchasing activities would likely not affect mortgage rates, according to a white paper published June 18 by the Federal Housing Finance Agency.

The paper, written by economists Saty Patrabansh, William Doerner and Samuel Asin, modeled how much impact various reductions to the asset purchase program might have on mortgage rates. Even ramping up the taper to $25 billion, there is very little effect on mortgage rates in the authors' model, which "suggests that the market appears not to react to the actual size of tapering." The authors reasoned a primary reason for the taper irrelevance, at this point, is that the cumulative asset purchases the Fed has made since the 2008 crisis dwarf the size of the taper.

Basically, until the Fed actually starts to liquidate some of its holdings, "monetary policy remains expansionary and it should not be a surprise when mortgage rates do not rise much even when purchases are reduced or temporarily stopped," the authors wrote.

And a Fed sell-off does not appear to be in the immediate future. During a June 18 press conference following a meeting of the Federal Open Market Committee, Chair Janet Yellen offered few clues as to when an actual liquidation might occur, saying "the Federal Reserve will continue to have a very large balance sheet for some time."

On the other hand, the economists found significant effects on mortgage rates from shocks to the 10-year Treasury. Conducting an event study that looked at mortgage rates and Treasury rates over the last few years, the authors found significant effects when the Fed made unexpected announcements with regard to its asset purchase program. But there were also large movements in rates due to global events, such as the sovereign debt crises in Europe.

And changes in the 10-year Treasury did have an appreciable impact on mortgage rates in the authors' model. Specifically, they showed that an aggregate shock of 10 basis points to the 10-year Treasury yield would push the 30-year fixed-rate mortgage rate to 5.0% by the middle of 2014. Without a shock, rates would be as much as 75 basis points lower, per the model. It also showed that a larger shock to the 10-year Treasury of 25 basis points would push mortgage rates over 6% the following quarter.

Through the first half of the year, average 15-year and 30-year mortgage rates have been fairly steady, with a slight downward trend, after the significant rise in late 2013. As of June 18, the national average for 30-year mortgage rates was 4.30%, down from 4.52% for the week ended Jan. 3, according to SNL data. And the 15-year mortgage rate has performed similarly, falling to 3.43% as of June 18, compared to 3.61% for the week ended Jan. 3.

State by state, South Dakota boasts the lowest mortgage rates in the nation at 4.17% for the average 30-year mortgage. And West Virginia holds the spot at the other end of the spectrum, carrying the highest average 30-year mortgage rate in the nation at 4.43%, according to SNL data. Among banks based in West Virginia reached by SNL, 16 banks charged zero points, one charged 0.25 of a point and two charged 1 point.

The nation's largest banks continued to struggle with loan growth through the first quarter of 2014, with the vast majority of the nation's largest banks showing quarter-over-quarter and year-over-year in balance sheet home equity loans and lines of credit and closed-end one- to four-family loans.




Leasing Industry Help Wanted

For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.


Sales Make it Happen
by Mr. Terry Winders, CLP

The Use of Lease Proposals

The difference between a professional salesperson and an order taker has to do with how you discover the customer's true interest and what they will accept in a lease transaction. The proposal is an excellent tool to do this if you take the time to construct it wisely and include all of the differences that set you apart from your competition plus a complete explanation of the type of transaction you are proposing.

A lease proposal when presented correctly can properly present your terms and conditions to the potential lessee. However, it requires a complete presentation of all your terms and conditions. Space here does not lend itself to present a proper proposal so the discussion will address its purpose.

Some poorly presented proposals only discuss the rental terms and the three ends of the lease options. While this may be acceptable in small ticket leases, it will lose you most middle market transactions where the average customer is searching for the best "deal" and only understands a little about what a lease can do for them.

A professional lease salesperson extracts as much information as possible from discussions with the customer but also knows the importance of discovering your differences, or advantages, from your competition. These differences cover a large area such as grace periods, stipulated loss requirements, late charge assessments, property tax procedures, differences in documentation, return conditions or location, and ease of doing business.

Differences are advantages if presented correctly and differences abound if you look for them.

One of the most important steps, is the last one, often over looked, and in the parlance, can be a "conditional close," if done properly:

Review the proposal with your customer to view their reaction to each of your terms or conditions.

Most professional salespeople will tell you that they only discover the customer's true interest as they review the terms of the proposal. They usually have to modify the proposal to reflect the new facts, from the presentation, and return at a later date with the corrected presentation.

One of the secrets of presenting a proposal is to only give the customer a proposal termination date that is shorter than they want. If your proposal is the best they have then they will argue with you about the date.

If the "conditional close" did not work, it may mean you are not competitive. They will disregard the date and this should ring an alarm bell in your mind. Don't be fooled that the sale is "closed."

Proposals are only a tool. They do not sell your lease--- you do.

It is common for customers to pick up suggestions from other presentations and change their minds. If you just send them your proposal thinking that it is only the rate or payment that is the determining factor, you are missing the boat.

Each day the customer is exposed to new ideals and is prone to have a new thought as to what they want. You have to stay on top of these changes if you are to succeed. Many top salesmen believe the sale is closed after the equipment is delivered and accepted, and their commission clears the bank---not when the commitment letter is signed.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at or 502-649-0448.

He invites your questions and queries.


Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame.


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


Leasing Proposals

"Commitment to Lease" Agreements

The dollar size of the lease proposal often dictates the details and length of the commitment letter.

In small ticket lease, the actual lease payment is often given and calls for the first and last as well as the documentation fee. Often a clause contains a "documentation" fee for $495.00, which is non-refundable if the lease is not approved. The wording is different and seems to be buried and whether written originally by an attorney or taken from the use of another leasing companies form is not known.

According to ex-employees as well as complaints that have appeared in Leasing News, many companies get such proposals signed in advance knowing they will be unable to proceed with the lease due to the nature of the equipment or the proposed lessee telling them of their credit difficulties in the presentation or from running a consumer credit report.

In larger ticket size leases, often a form such as this is used, which specifically charges a fee to process the application:

Loans or “Working Capital” commitment letters are explicit and require the broker to often be licensed. This form is for use in California:

This form is one of the most widely used in the leasing industry for leases $50,000 and above and covers most of the bases. Note: Last sentences about the signatures makes this more a “proposal,” than commitment. If required, these sentences may be removed.

It is a good idea to have the form you use reviewed by an attorney with equipment leasing experience. This does not mean your college friend who became a lawyer. You wouldn't take your children to an Endodontist to get braces on their teeth, although the practitioner is a "dentist." The same with going to an attorney. You don't go to a divorce attorney to go over a lease commitment contract.

Some things to consider in your form.

#1: ACH---If you are going to require it or may require it, you should have this spelled out in the agreement. If not in the contract and becomes a requirement of the lease, the proposal is invalid.

#2 Date---It is a good idea to have a time period involved, and perhaps if not approved, from completion of all the documents and/or lease contracts. A prospect can back out after 30 days and bring this up in small claims court, unless spelled out the time begins after all documentation is complete ( attorneys will have different opinions on this and its wording, but the complaint may make it into Leasing News when it takes months before anything happens.)

#3 Personal guarantee--of all officers who own 10% or more of a privately held corporation. (This will protect if the final approval comes in with terms and conditions, but requires other guarantors who are not named on the application or in the proposal.)

The following form was development by Leasing News Advisor Kenneth C. Greene, Esq.:

To Contact Ken Greene:

Ken Greene
Law Offices of Kenneth Charles Greene
5743 Corsa Avenue Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
Skype: 424.235.1658




Aggregate Funding Sources
(On Line: connects lessees, lessors, and vendors)

Only one left now, from an original over 30
at the turn of the century.



Leasing Portals
(Business to Business including Finance/Leasing)

One site is free, the other two require a subscription for "leads" or "sources." Portals were the original browsers that are now much broader, such as Google or Yahoo. They basically link users to other reference sites. These portals are aimed specifically at business sites and network.







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

November 11-13 Middle East Leasing Summit

The 2014 Middle East Leasing Summit to be held November 11-13 at the JW Marriott Marquis Hotel Dubai is reported to be strongly supported by leading leasing companies and international leasing association. 

This summit will gather regional government officials, vendor
representatives, national organizations and industry leaders to interpret the air finance from the aspect of market situation, regulatory, growth point and second hand aircraft to better understand Middle East air finance market.

The conference promises "Deep insight into Middle East leasing market climate with introduction of Islamic Finance’s application and banks’ involvement. 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

For more information, please visit the official website at

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



Labrador Retriever/Box Mix
Dover, New Hampshire  Adopt-a-Dog

Six Years Old
House Trained
Prefer Home without Cats
Shots Current

“Duke is a six year old black lab/boxer mix, who is a total sweetheart. He is completely trustworthy in the house, doesn't need to be crated, although he likes his crate, and loves the outdoors, especially the snow! He is in great shape, just a little white frosting to accentuate that cute face. He does have a nubby tail as you can see from the photos. He is leary of little children (under three feet) but is fine with older children. He would prefer to be the only dog, although he could live with a low-key older dog like himself. He does have a gluten allergy, so, he is on a grain-free diet.

Please email Anne at for more information about Duke.
Duke's adoption fee is $200.

SOS Labrador Retriever Rescue, Inc
Dover, NH 03820
Phone: 404-557-2911, 603-953-4135


Adopt a Pet



Gigajob Joins Classified Ads--Employment Web Sites is a new, fast growing job board for USA which can be used Free of cost by both employers and employees. It appears advertising supports the program.

Employees post "CV's," short for "curriculum vitae," commonly used by US attorneys; a brief biographic resume of one's career and training, as prepared by a person apply for a job.

Classified Ads---Employment Web Sites

Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.




News Briefs----

Joint Accounting Rule on Leases May Not Happen in 2014

Anybody want a bank building?

Umpqua Bank Announces Consolidation of 27 Stores as Part of Merger Integration

U.S. Bank Closes on Acquisition of Chicago-Area Charter One Bank Franchise

State Bank Financial/Georgia-Carolina Bancshares Announce Merger
Audit: More than 120,000 veterans waiting or never got care

FAA bans drones from delivering packages

CBS Announces Fall Premiere Dates in September and October

Nielsen's top programs for June 16-22 


John Kenny 
Receivables Management

• End of Lease Negotiations & Enforcement
• Fraud Investigations
• Credit Investigations • Asset Searches 
• Skip-tracing • Third-party Commercial Collections | ph 315-866-1167|

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)



--You May Have Missed It

Most Consumers Willing to Wait If It Ships Free, UPS and comScore Survey Finds


SparkPeople--Live Healthier and Longer

Dining Out Guide


Baseball Poem

Why Baseball Waltzes with Letters
by Tim Peeler

A Faulkner sentence is an extra inning game, Simply and finally playing through its Will and exhaustion.

Third Base Coach signals are ee cummings poems-
Gimmicky, sure, but meaningful in their color
When you break the code.

The prisons play contests of Bukowski prose,
Where a stolen base may be a literal image
And everybody gambles nothing.

Weird killers load the bases at a
Stephen King Little League field, the sequel,
A grand slam promise at the bank.

Although Poe would never sit through nine,
His words are a dark season in the cellar,
A team leaving town and the death of a Beautiful groupie.

Finally, Wolfe who wrote slugfest
Double-headers played to million-footed
Throngs, then flickered like so many other
Stars never meant for extra innings.


---  with the permission of the author, from his
book of baseball poetry:

“Waiting for Godot's First Pitch”
    More Poems from Baseball

available from Amazon or direct from the publisher at:



Sports Briefs----

Decision do-over: What LeBron can do differently this time

Judge: Donald Sterling has little chance of blocking Clippers sale

NCAA Claims That Paying Athletes Would Start a 'Bidding War'

For Oregon Ducks football coaches, summer is spent juggling recruiting and roster-building

Fifteen little things 49ers fans should know about Levi’s Stadium


California Nuts Briefs---

Asiana pilots switched off system that might have averted crash: NTSB

Chicago selected for George Lucas' 'storytelling' museum,0,6741871.story

Map for "Star Wars" Museum,0,545760.htmlstory

In TV trade, KTVU becomes a Fox station

Salesforce, others back Clintons' job-training initiative

Things you’ll never see again in San Francisco


“Gimme that Wine”

New winemakers for Silver Oak and Twomey

Sommelier Talk: Elizabeth Huettinger

Jackson Family Wines expands Oregon holdings

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History

    1630—John Winthrop, Governor of the Massachusetts Bay Colony, introduced the fork to American dining. Prior to using a fork, the custom was to eat with your sharp knife or hands.  His writings and vision of the colony as a Puritan "city upon a hill" dominated New England colonial development, influencing the government and religion of neighboring colonies. Born into a wealthy landowning and merchant family, Winthrop was trained in the law, and became Lord of the Manor at Groton in Suffolk. Although he was not involved in the founding of the Massachusetts Bay Company in 1628, he became involved in 1629 when the anti-Puritan King Charles I began a crackdown on Nonconformist religious thought. In October 1629 he was elected governor of the Massachusetts Bay Colony, and in April 1630 he led a group of colonists to the New World, founding a number of communities on the shores of Massachusetts Bay and the Charles River.
    1689 – Birthday of Edward Holyoke, American educator and President of Harvard University (1737-69).
      1749 - A general fast was called on account of drought in Massachusetts. It was the year of the famous dry Spring in which fields and villages burned.
    1788-Virginia became the 10th state to ratify the Constitution. Jamestown was the first permanent English settlement in North America.  The state, also known as Old Dominion, was named after the "Virgin Queen", Elizabeth I of England. Virginia and its capital, Richmond, have played major roles in American history. Like West Virginia, it names the cardinal as the state bird. The official state flower of Virginia is the flowering dogwood.
    1844-President John Tyler married Julia Gardiner, daughter of a New York State Senator, at the Church of the Ascension, New York City. He became the first president to be married in the White House. His first wife, Letitia Christian Polk, whom he had married on March 29, 1813, had died on September 10, 1842, in the White House.
    1862-Earlier this month, at Fair Oaks, Virginia, Confederate forces under General Joseph E. Johnston stalled the Union advance toward Richmond in General George B. McClellan’s Peninsular campaign. Johnston was wounded at Fair Oaks and Robert E. Lee was then appointed commander of the Confederate Army of Northern Virginia. He then launched a series of engagements on this date that became known as the Seven Days Campaign. Battles at Oak Grove, Gaine’s Mill’s, Garnett’s Farm, Golding’s Farm, Savage’s Station, White Oak Swamp and, finally, Malvern Hill left more than 36,000 casualties on both sides. Despite losing the final assault at Malvern Hill, the Confederates under the leadership of General Lee succeeded in preventing the much larger Union army from taking Richmond.
    1862-First day of the seven-day battle at Oak Grove
    1864-President Abraham Lincoln signs bill providing schools for Black children.
    1864 -A TRIP TO THE CLIFF HOUSE by Mark Twain written for The San Francisco Daily Morning Call.  ”If one tire of the drudgeries and scenes of the city, and would breathe the fresh air of the sea, let him take the cars and omnibuses, or, better still, a buggy and pleasant steed, and, ere the sea breeze sets in, glide out to the Cliff House. We tried it a day or two since. Out along the rail road track, by the pleasant homes of our citizens, where architecture begins to put off its swaddling clothes, and assume form and style, grace and beauty, by the neat gardens with their green shrubbery and laughing flowers, out where were once sand hills and sand-valleys, now streets and homesteads. If you would doubly enjoy pure air, first pass along by Mission Street Bridge, the Golgotha of Butcherville, and wind along through the alleys where stand the whiskey mills and grunt the piggeries of "Uncle Jim." Breathe and inhale deeply ere you reach this castle of Udolpho, and then hold your breath as long as possible, for Arabia is a long way thence, and the balm of a thousand flowers is not for sale in that locality. Then away you go over paved, or planked, or Macadamized roads, out to the cities of the dead, pass between Lone Mountain and Calvary, and make a straight due west course for the ocean. Along the way are many things to please and entertain, especially if an intelligent chaperon accompany you. Your eye will travel over in every direction the vast territory which Swain, Weaver & Co. desire to fence in, the little homesteads by the way, Dr. Rowell's arena castle, and Zeke Wilson's Bleak House in the sand. Splendid road, ocean air that swells the lungs and strengthens the limbs. Then there's the Cliff House, perched on the very brink of the ocean, like a castle by the Rhine, with countless sea-lions rolling their unwieldy bulks on the rocks within rifle-shot, or plunging into and sculling about in the foaming waters. Steamers and sailing craft are passing, wild fowl scream, and sea-lions growl and bark, the waves roll into breakers, foam and spray, for five miles along the beach, beautiful and grand, and one feels as if at sea with no rolling motion nor sea-sickness, and the appetite is whetted by the drive and the breeze, the ocean's presence wins you into a happy frame, and you can eat one of the best dinners with the hungry relish of an ostrich. Go to the Cliff House. Go ere the winds get too fresh, and if you like, you may come back by Mountain Lake and the Presidio, overlook the Fort, and bow to the Stars and Stripes as you pass.”
    1864-The Union Army, facing mounds of pickets and bunkers, begins digging a tunnel toward the Rebels at Petersburg, Virginia, in order to blow a hole in the Confederate lines and break the stalemate.   The men of the 48th Pennsylvania sought to break the stalemate with an ambitious project. The brainchild of Lieutenant Colonel Henry Pleasants, the plan called for the men of his regiment–mostly miners from Pennsylvania's anthracite coal region–to construct a tunnel to the Confederate line, fill it with powder, and blow a gap in the fortifications.  For five weeks the miners dug the 500-foot long shaft, completing about 40 feet per day. On July 30, a huge cache of gunpowder was ignited. The plan worked, and a huge gap was blown in the Rebel line. But poor planning by Union officers squandered the opportunity, and the Confederates closed the gap before the Federals could exploit the opening. The Battle of the Crater, as it became known, was an unusual event in an otherwise uneventful summer along the Petersburg line.
    1868-Congress authorized government laborers a workday of eight hours, which was signed into law by President Andrew Johnson, providing, among other things, that “eight hours shall constitute a day’s work for all laborers, workmen, and mechanics who may be employed by or on behalf of the Government of the United States.
    1868 - Florida, Alabama, Louisiana, Georgia, North Carolina and South Carolina were readmitted to the Union.    [relo-chron] 1874 - Birthday of Rose O’Neill, at Wilkes-Barre, PA. Her career included work as an illustrator, author and doll designer, the latter gaining her commercial success with the Kewpie Doll. In 1910, “The Ladies Homes Journal” devoted a full page to her Kewpie Doll designs, which were a marketing phenomenon for three decades. Died at Springfield, MO, April 6, 1944.
     1876-Lieutenant Colonel George Armstrong Custer, leading military forces of more than 200 men, attacked an encampment of Sioux Indians, led by Chiefs Sitting Bull and Crazy Horse, near Little Bighorn River, MT. Custer and 264 men of the Seventh Calvary were slaughtered in the brief battle (about two hours) of Little Bighorn. One horse, named Comanche, is said to have been the only survivor among Custer’s forces, although revisionist history recalls that heavy losses were sustained rather than the entire 7th cavalry being wiped out. This brought more repression by both the US Army and Federal Government to the American Indians in the next fifty years. It was common to “Remember Custer’s Last Stand.” It was common for military commanders to attack the Indians out-numbered with firepower and from three directions. It is said one of his units halted in the three prong attack, and the other reacted by holding back and not proceeding with the long proved strategy, allowing the Indians to “divide and conquer.” He was considered an American hero. It was not until present time that he was considered an egoist trying to build his reputation in the military (very common in that day, and perhaps until recent times.) Military historians find no errors in the strategy of the attack, except for the execution.  This is from accounts from interviews with the Indians, including scouts who were dismissed before the attack and watched the battle, plus papers and diaries from the soldiers. Other historians believe he should have waited for reinforcements from General Alfred H. Terry, who discovered the bodies.
    1881- Birthday of Crystal Eastman, said to be one of the most influential and “radical” U.S. women of her day. She was an attorney, feminist, labor reformer, peace advocate, birth control advocate, suffragist, and worker for women's financial equality in both the U.S. and England. She was active in the Political Equality League, Congressional Union for Woman Suffrage, Women's Peace Party, the Feminist Congress, and a member of the famed Heterodoxy Club of New York.
   1886 - Birthday of General Henry H. “Hap” Arnold, commander of the US Army Air Force in all theaters throughout WWII, Arnold was born at Gladwyne, PA. Although no funds were made available, as early as 1938, Arnold was persuading the US aviation industry to step up manufacturing of airplanes. Production grew from 6,000 to 262,000 per year from 1940—44. He supervised pilot training and by 1944, Air Force personnel strength had grown to two million from a prewar high of 21,000. Made a full general in 1944, he became the US Air Force’s first five-star general when the Air Force was made a separate military branch equal to the Army and Navy. Arnold died Jan 15, 1950, at Sonoma, CA.
     1887 - George Abbott was born. As a playwright, director, actor, producer and play doctor who could make a faulty script work, George Abbott is virtually synonymous with the history of Broadway: "Jumbo," "Broadway," "Pal Joey," "High Button Shoes," "Where's Charley," "Call Me Madam," "Wonderful Town," "Pajama Game," "On Your Toes," "Damn Yankees," "Fiorello!," "A Funny Thing Happened on the Way to the Forum." He died February 2, 1995 at his home in Miami Beach. He was 107.
    1908-birthday of African-American Beatrice Murphy, editor and author.
    1910- The Mann Act was passed by the US Congress. It prohibited the transportation of females across state or international lines for immoral purposes. It was said to be an attempt to curb the huge "white slave" and prostitution business in the U.S. and the world. At the time, it was estimated that there were more than 600 recognized houses of prostitution in Chicago alone. New Orleans was "closed" to naval personnel because of the number of brothels. But the situation was nothing new. With the change from rural to city living caused by the industrial revolution, more and more women were on their own without family to help support them. It was said that women were “imported” for prostitution, however, the custom had been going on since France brought in French prostitutes in the 17th century to marry French soldiers and settlers in Louisiana. The most famous prosecutions under the law were those of Charlie Chaplin in 1944 and Chuck Berry in 1962, who took unmarried women across state lines for "immoral purposes." Chaplin was acquitted but left the country under FBI director J. Edgar Hoover's threats. Berry was convicted and spent two years in the prime of his musical career in jail. After Berry's conviction, the Mann Act was enforced only sparingly and was finally removed from the books in 1986.
    1918 - Birthday of Marion Alice Orr, member of the Canadian Aviation Hall of Fame. MAO was one of the most noted pilots for the RCAF in England during World War II. She ferried military planes - some terribly shot up and dangerous to fly - from landing strips to repair locations and back. Her flights were always subject to German fighter interception as well as the dangers from the planes disintegrating in air. The women also flew planes that had made their regular night sorties over Germany from air fields close to the channel to safer locations to the west of England and then returned them to the eastern air bases that evening. A number of women who ferried the planes died. In Canada, she was the first woman to fly and instruct helicopters.
    1928 - Birthday of Bill Russo, jazz composer, arranger and trombonist, best known perhaps for playing with Stan Kenton. While I was going to Julliard School of Music, I studied privately with him in New York. He was teaching me fundamentals of big band arranging, starting with six and seven chord harmonies. He died in 2003.
    1925 - The mercury hit 101 degrees at Portland, OR, their earliest 100 degree reading of record.
    1925 - Birthday of accordion player Clifton Chenier, King of Zydeco, Opelousas, LA. Zydeco is the party music of the black Cajuns of Louisiana, and is a mixture of blues, French folk songs, country, R'n'B and rock 'n' roll. Chenier usually played an accordion and sang in a mixture of French and English. He often wore a jeweled crown on stage, and appeared at blues festivals and rock clubs all over North America. He was largely responsible for the popularity of zydeco outside his native Louisiana. Chenier, who was severely diabetic, died on December 12th, 1987, at the age of 62.
    1925 – Actress June Lockhart was born in New York City.  She is remembered as the mother in two TV series, “Lassie” and “Lost in Space”. She also portrayed Dr. Janet Craig on the CBS television sitcom “Petticoat Junction” (1968–70). She is a two-time Emmy Award nominee and a Tony Award winner.     
        1928 - Birthday of Bill Russo, jazz composer, arranger and trombonist, best known perhaps for playing with Stan Kenton. While I was going to Julliard School of Music, I studied privately with him in New York. He was teaching me fundamentals of big band arranging, starting with six and seven chord harmonies. He died in 2003.

1935 - Birthday of vocalist Eddie Floyd, Montgomery, Al
    1941 - Glenn Miller records “Adios” on Bluebird.
    1941 - Fair Employment Practices Commission established.
    1941 - Joe DiMaggio ran his hitting streak to 45 straight games, with a home run off Boston’s Heber Newsome. The ‘Yankee Clipper’ broke the record set by Wee Willie Keeler in 1897.  He would continue the streak until it was broken, at 56 games, in Cleveland on July 15.  The record that still stands and is regarded as one of sports two “most unbreakable “ records with Cy Young’s 511 career wins.
    1942 - Major General Dwight D. Eisenhower takes command of U.S. forces in Europe. Although Eisenhower had never seen combat during his 27 years as an Army officer, his knowledge of military strategy and talent for organization were such that Army Chief of Staff General George C. Marshall chose him over nearly 400 senior officers to lead U.S. forces in the war against Germany. After proving himself on the battlefields of North Africa and Italy in 1942 and 1943, Eisenhower was appointed supreme commander of Operation Overlord--the Allied invasion of northwestern Europe. In December 1943, Eisenhower was appointed Supreme Allied Commander of the Allied Expeditionary Force.  Operation Overlord, the largest combined sea, air, and land military operation in history, was successfully launched against Nazi-occupied Europe on June 6, 1944. On May 7, 1945, Germany surrendered. By that time, Eisenhower was a five-star general.
    1942 – NBA Hall of Famer Willis Reed was born in Hico, Louisiana.  He spent his entire professional playing career (1964–1974) with the New York Knicks who won the NBA Championship with him at center in 1970 and 1973. In 1982, Reed was inducted into the Naismith Memorial Basketball Hall of Fame. In 1997, he was voted one of the "50 Greatest Players in NBA History".
    1944---Top Hits
I’ll Be Seeing You - The Tommy Dorsey Orchestra (vocal: Frank Sinatra)
I’ll Get By - The Harry James Orchestra (vocal: Dick Haymes)
Swinging on a Star/Going My Way - Bing Crosby
Straighten Up and Fly Right - King Cole Trio
    1944--*KELLY, JOHN D. Medal of Honor
Rank and organization: Technical Sergeant (then Corporal), U.S. Army, Company E, 314th Infantry, 79th Infantry Division. Place and date: Fort du Roule, Cherbourg, France, 25 June 1944. Entered service at: Cambridge Springs, Pa. Birth: Venango Township, Pa. G.O. No.: 6, 24 January 1945. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. On 25 June 1944, in the vicinity of Fort du Roule, Cherbourg, France, when Cpl. Kelly's unit was pinned down by heavy enemy machinegun fire emanating from a deeply entrenched strongpoint on the slope leading up to the fort, Cpl. Kelly volunteered to attempt to neutralize the strongpoint. Arming himself with a pole charge about 10 feet long and with 15 pounds of explosive affixed, he climbed the slope under a withering blast of machinegun fire and placed the charge at the strongpoint's base. The subsequent blast was ineffective, and again, alone and unhesitatingly, he braved the slope to repeat the operation. This second blast blew off the ends of the enemy guns. Cpl. Kelly then climbed the slope a third time to place a pole charge at the strongpoint's rear entrance. When this had been blown open, he hurled hand grenades inside the position, forcing survivors of the enemy gun crews to come out and surrender. The gallantry, tenacity of purpose, and utter disregard for personal safety displayed by Cpl. Kelly were an incentive to his comrades and worthy of emulation by all.
    1944--OGDEN, CARLOS C. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company K, 314th Infantry, 79th Infantry Division. Place and date: Near Fort du Roule, France, 25 June 1944. Entered service at: Fairmont, Ill. Born: 19 May 1917, Borton, Ill. G.O. No.: 49, 28 June 1945. Citation: On the morning of 25 June 1944, near Fort du Roule, guarding the approaches to Cherbourg, France, 1st Lt. Ogden's company was pinned down by fire from a German 88-mm. gun and 2 machineguns. Arming himself with an M-1 rifle, a grenade launcher, and a number of rifle and hand grenades, he left his company in position and advanced alone, under fire, up the slope toward the enemy emplacements. Struck on the head and knocked down by a glancing machinegun bullet, 1st Lt. Ogden, in spite of his painful wound and enemy fire from close range, continued up the hill. Reaching a vantage point, he silenced the 88mm. gun with a well-placed rifle grenade and then, with hand grenades, knocked out the 2 machineguns, again being painfully wounded. 1st Lt. Ogden's heroic leadership and indomitable courage in alone silencing these enemy weapons inspired his men to greater effort and cleared the way for the company to continue the advance and reach its objectives.
    1944--EPPERSON, HAROLD GLENN Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps Reserve. Born: 14 July 1923, Akron, Ohio. Accredited to: Ohio. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving with the 1st Battalion, 6th Marines, 2d Marine Division, in action against enemy Japanese forces on the Island of Saipan in the Marianas, on 25 June 1944. With his machinegun emplacement bearing the full brunt of a fanatic assault initiated by the Japanese under cover of predawn darkness, Pfc. Epperson manned his weapon with determined aggressiveness, fighting furiously in the defense of his battalion's position and maintaining a steady stream of devastating fire against rapidly infiltrating hostile troops to aid materially in annihilating several of the enemy and in breaking the abortive attack. Suddenly a Japanese soldier, assumed to be dead, sprang up and hurled a powerful hand grenade into the emplacement. Determined to save his comrades, Pfc. Epperson unhesitatingly chose to sacrifice himself and, diving upon the deadly missile, absorbed the shattering violence of the exploding charge in his own body. Stouthearted and indomitable in the face of certain death, Pfc. Epperson fearlessly yielded his own life that his able comrades might carry on the relentless battle against a ruthless enemy. His superb valor and unfaltering devotion to duty throughout reflect the highest credit upon himself and upon the U.S. Naval Service. He gallantly gave his life for his country.
    1945- Robert Charlebois, one of Quebec's most influential pop singers, was born in Montreal. His first LP, in 1965, received a jury award for debut recordings at the Festival du Disque in France. In 1968, Charlebois represented Quebec at the Fifth International Festival of French Song, winning the grand prize with his composition, "Lindberg." A tour of France in 1969 was curtailed after a riotous performance at the Paris Olympia. Charlebois began a two-year sabbatical in 1974 after participating in a concert on the Plains of Abraham with Gilles Vigneault and Felix Leclerc. The historic gathering of the three men who shaped the tradition of the popular song in Quebec was televised by the CBC French network, and later broadcast in France. In the late '70s, Robert Charlebois began performing in a more relaxed style that had critics comparing him with Frank Sinatra and Yves Montand. It was a sharp change from the raucous image of his heyday.
    1945 - Singer Carly Simon was born in The Bronx, the daughter of publishing magnate Richard Simon of Simon and Schuster. She began singing with her sister Lucy when the two were in college. Simon began her solo career in 1969, and hit the top 10 two years later with "That's the Way I've Always Heard It Should Be." In 1972, her recording of "You're So Vain," featuring a guest appearance by Mick Jagger, hit number one. That year she married James Taylor, and the two combined in 1974 for the hit single "Mockingbird," a remake of a '60s R'n'B success by Inez and Charlie Foxx. Carly Simon, a childhood stutterer, suffers from stage fright and rarely appears in concert. In 1981, she filed for divorce from Taylor. Her musical career as a writer and recording artist has continued although with less celebrity.
    1948-Boxer Joe Louis defended his heavyweight championship by knocking out Jersey Joe Walcott in the 11th round of a fight at Yankee Stadium. This was Louis’s last title defense after which he retired. 
    1949 - Entertainer Fred Allen closed out his amazing radio career. Allen was making the transition to TV. His final radio guest was his old pal, Jack Benny. Benny went on to become a television legend.  Allen’s caustic wit didn’t play well on TV and he found himself out of the medium in short time.
    1949- Former 1970 Miss America and television personality Phyllis George was born in Denton, Texas.  After her year as Miss America, George was involved in a series of television appearances.  In 1975, she joined the cast of “The NFL Today”, co-hosting with Brent Musberger, Irv Cross and Jimmy “The Greek” Snyder, live pregame shows before Sunday National Football League (NFL) games. She was one of the first females to have a nationally prominent role in television sports coverage.
   1950-The Korean War (1950-1953) began when North Korean forces launched an invasion across the 38th parallel into South Korea. The UN ordered an immediate cease-fire and withdrawal of invading forces.  An armistice was signed at Panmunjom July 27, 1953, formally dividing the country into two---North Korea and South Korea.
    1951-CBS broadcast the first color television program. The program was strictly experimental, as no viewers had color televisions at the time. The four-hour program could only be viewed on the forty color television sets at CBS. The first all-color station, WNBQ-TV in Chicago, began showing color programs on November 3, 1955, and switched to color entirely, even for local programs, by April 15, 1956.
    1952---Top Hits
“Kiss of Fire” - Georgia Gibbs
“I’m Yours” - Don Cornell
“Be Anything” - Eddy Howard
“The Wild Side of Life” - Hank Thompson
    1953 - The temperature at Anchorage soared to 86 degrees, their hottest reading of record.
    1954 – Birthday of Supreme Court Justice Sonia Sotomayor, in The Bronx.  
    1956 - The last Packard--the classic American luxury car with the famously enigmatic slogan "Ask the Man Who Owns One"--rolls off the production line at Packard's plant in Detroit, Michigan.
      1959 - CBS journalist Edward R. Murrow interviewed his 500th -- and final -- guest on "Person to Person": actress Lee Remick. Just hours before this final broadcast, Murrow had presented his last news broadcast on the CBS radio network. CBS-TV had reportedly made $20 million from Murrow’s "Person to Person" series. 
    1960---Top Hits
“Cathy’s Clown” - The Everly Brothers
“Everybody’s Somebody’s Fool” - Connie Francis
“Swingin’ School” - Bobby Rydell
“Please Help Me, I’m Falling” - Hank Locklin
    1961 - Pat Boone spent this day at number one for one last time with "Moody River". Boone, a teen heart-throb in the 1950s, had previously walked his way up the music charts, wearing white buck shoes, of course, with these other hits: "Ain’t That a Shame", "I Almost Lost My Mind", "Don’t Forbid Me", "Love Letters in the Sand" and "April Love”.
    1962- The U.S. Supreme Court ruled that a prayer read aloud in public schools violated the 1st Amendment’s separation of church and state. The court again struck down a law pertaining to the First Amendment when it disallowed an Alabama law that permitted a daily one-minute period of silent meditation or prayer in public schools in 1985. This decision has been seen by each new Supreme court and is considered a quite a controversy to this day.
    1964 - "A Hard Day’s Night" was released by United Artists Records. The album featured all original material by The Beatles and became the top album in the country by July 25, 1964. 
    1965 - "Mr. Tambourine Man", by The Byrds, reached the number one spot on the pop music charts. The song was considered by many to be the first folk-rock hit. The tune was written by Bob Dylan, as were two other hits for the group: "All I Really Want to Do" and "My Back Pages". The group of James Roger McGinn, David Crosby, Gene Clark, Chris Hillman and Mike Clarke charted seven hits. The Byrds were inducted into the Rock and Roll Hall of Fame in 1991.
    1966-The final Beatles world tour kicked off in Munich, Germany as the Fab Four saw "Paperback Writer" leap from number 15 in the US to number 1, the song was penned by Paul McCartney and John Lennon.  It was the last new song by the Beatles to be featured on their final tour in 1966. Lennon told Hit Parader in 1972 that "Paperback Writer" was primarily written by McCartney: "I think I might have helped with some of the lyrics. Yes, I did. But it was mainly Paul's tune."
     1967 - The Beatles performed a new song, "All You Need Is Love," during a live international telecast.
       1967 -- "Summer of Love": 75,000 - 100,000 in Hashbury, San Francisco. Also, on or about this day, author Ken Kesey is sentenced to 6 months in jail. At a Veterans Administration hospital, Kesey was a paid experimental subject, taking mind-altering drugs & reporting their effects. Experiences as an aide at a psychiatric hospital and LSD sessions served as background for “One Flew Over Cuckoo's Nest”. The book was a vehicle for Ken Kesey’s anarchist rant against the oppressive conformism imposed by society’s institutions, particularly the dehumanizing social conformity of the 1950s. Kesey formed the 'Merrie Pranksters', bought an old school bus, and toured America & México with his friends. Their exploits were immortalized in Tom Wolfe's “The Electric Kool-Aid Acid Test” (1973).  "You are either on the bus or you're not on the bus."
    1967 - The first worldwide live television program was “Our World,” shown in 26 countries via four satellites. The two-hour production involved 10,000 technicians and 300 cameras in 14 countries on five continents. It opened with glimpses of births in Mexico, Canada, Denmark, and Japan. The rest of the program featured clips of Leonard Bernstein and Van Cliburn rehearsing a Rachmaninoff concerto at New York City’s Lincoln Center; the Beatles recording a song in London;  a rehearsal of Lohengrin in Bayreuth, Germany;  the making of a movie in Italy, and other presentations. The American outlet was the National Education Television network. The program cost about $5 million.
    1968---Top Hits
“This Guy’s in Love with You” - Herb Alpert
“MacArthur Park” - Richard Harris
“The Look of Love” - Sergio Mendes & Brazil ’66
“Honey” - Bobby Goldsboro
    1968-Bobby Bonds of the San Francisco Giants started on the road to stardom this day. Bonds connected for a grand slam home run in his first major league game with the Giants, in his third at bat.  Thus he became just the second player ever, and the first in MLB's modern era, to hit a grand slam in his debut game. The first was Bill Duggleby in 1898.
    1968 -- In response to the passage of an anti-gay ordinance in Miami, 240,000 people march in San Francisco in the first large-scale version of that city's annual Gay Freedom Day Parade. 
    1969 - The Hollies’ record, “He Ain't Heavy, He's My Brother,'' with Elton John playing piano. The song reaches No. 7 on Billboard's singles chart.
    1969-Pancho Gonzalez and Charlie Pasarell played the longest match in Wimbledon history. After 112 games and 5 hours, 12 minutes, Gonzales emerged triumphant.
    1969-- Sly and the Family Stone, "Hot Fun in the Summertime"
    1969- The Guess Who's "These Eyes" is certified gold
    1973 - Former White House Counsel John Dean began testifying before the Senate Watergate Committee.  Dean served as White House Counsel for  President Richard Nixon from July 1970 until April 1973. In this position, he became deeply involved in events leading up to the Watergate burglaries and the subsequent cover-up. He was referred to as the "master manipulator of the cover-up" by the Federal Bureau of Investigation (FBI). He pleaded guilty to a single felony count, in exchange for becoming a key witness for the prosecution. This ultimately resulted in a reduced prison sentence, which he served at Fort Holabird, Maryland.
      1975-Former Supreme, Florence Ballard put on a dynamic performance at Detroit's Ford Auditorium that drew wide acclaim and renewed interest in her career.  Unfortunately, her comeback faltered and she would pass away a year later. 
    1976---Top Hits
“Silly Love Songs” - Wings
“Get Up and Boogie (That’s Right)” - Silver Convention
“Misty Blue” - Dorthy Moore
El Paso City” - Marty Robbins
    1976 - The CN Tower opened in Toronto, Ontario, Canada. At 1,815 feet, 5 inches high, the tower is the world's tallest building and the tallest freestanding structure. 
    1977--Marvin Gaye's last single for Motown Records, "Got to Give It Up" (pt 1) was number one on Billboard Magazine's Pop chart. Marvin would later sign with Columbia and enjoy another string of hits.
    1977-Bill Conti's "Gonna Fly Now", the theme from the motion picture “Rocky”, topped the Cashbox Best Sellers chart. Conti recorded the song and the rest of the film's score in just three hours for a total budget of $25,000, but the movie itself would go on to make over 177 million dollars in the US alone.
    1979 - Muhammad Ali announced that he was retiring as world heavyweight boxing champion. The 37-year-old fighter said, “Everything gets old, and you can’t go on like years ago.” The “float like a butterfly, sting like a bee” act was no more.
    1980-Billy Joel is awarded a Gold Ticket for performing in front of 100,000 fans at New York's Madison Square Garden. Crowds flocked to see the piano man sing the tunes from his "Glass Houses" album, which currently sits atop the Billboard Hot 200. 
    1984---Top Hits
“The Reflex” - Duran Duran
“Dancing in the Dark” - Bruce Springsteen
“Self Control” - Laura Branigan
“When We Make Love” – Alabama
    1984- Bruce Springsteen takes on a new backup singer named Patti Scialfa, who will eventually become his second wife after their affair leads to the breakup of his first marriage to model and actress Julianne Phillips. Nine years later to the day, he becomes the last musical guest on the NBC-TV show Late Night with David Letterman.
    1987 - “Just the facts, ma’am. Thank you.” "Dragnet", starring Dan Aykroyd in the Jack Webb role of Sgt. Joe Friday; and Tom Hanks in the Harry Morgan [Morgan was Officer Bill Gannon] role of Detective Stribeck, opened around the U.S. The movie became the first Hollywood film to feature a "condom-conscious" bedroom scene ... just right for the social mores of the 1980s. "Dragnet" was a smash theatrical hit, as it had been on radio and TV in the 1940s and 1950s. “This is the city...” 
    1987 - Afternoon highs of 97 degrees at Miami, FL, 107 degrees at Medford, OR, and 111 degrees at Redding CA were new records for the date. It was the third of six straight days of record heat for Miami. Thunderstorms produced wind gusts to 70 mph at Austin, and gusts to 75 mph at Tulsa OK.     
    1988 - Fifty-two cities in the central and eastern U.S. reported record high temperatures for the date. Highs of 100 degrees at Erie, PA, and 104 degrees at Cleveland OH established all- time records for those two locations. Highs of 101 degrees at Flint, MI, 105 degrees at Chicago, IL, and 106 degrees at Fort Wayne, IN, equaled all-time records. Thunderstorms in Idaho produced wind gusts to 100 mph west of Bliss and north of Crouch, injuring 29 persons.
“Dirty Diana”- Michael Jackson
“Foolish Beat”- Debbie Gibson
“The Flame”- Cheap Trick
“Make It Real”- The Jets
    1989 - Tropical depression Allison, the remnants of what was earlier Cosme (a hurricane over the Pacific Ocean which dissipated as it crossed northern Mexico), began to spread heavy rain into southeast Texas and southwest Louisiana. 
    1990 - "The Arizona Republic" reported it was 122 degrees in Phoenix, hot enough to cancel some flights at the airport. 
    1990-In the case of Cruzan v Missouri, the Supreme Court, in a 5-4 ruling, upheld the constitutional right of a person whose wishes are clearly known to refuse life-sustaining medical treatment.
    1993- Bruce Springsteen was a surprise guest on David Letterman's final show as host of NBC's "Late Night." Letterman, after more than 11 years at NBC, began a similar show on CBS two months later. David Letterman was born in Indianapolis, Indiana, in 1947. From an early age, he aspired to host his own talk show. He became a stand-up comic and a wacky weatherman on a local TV station. After years on the stand-up comedy circuit, he made his first appearance on “The Tonight Show” in 1978 and served as the program's guest host 50 times. In 1980, Letterman had a short-lived morning variety show, “The David Letterman Show”, which won two Emmys.
He launched his popular late-night TV show in 1982. His offbeat humor and goofy stunts spoofed traditional talk shows. Antics like wearing a Velcro suit and throwing himself at a wall or tossing eggs into a giant electric fan, Letterman gained a large following, especially among college students. Regular features included his "Top Ten List," "Stupid Pet Tricks," and tours of the neighborhood. He also frequently wandered with his camera into other NBC shows in progress. Over more than 11 years, the show won five Emmys and 35 nominations.  When Johnny Carson announced his retirement in 1992, Letterman and rival comic Jay Leno engaged in a heated battle for the coveted host slot. When Letterman was passed over, he left NBC for CBS, where his new program, “ The Late Show”, outperformed Leno's show almost every week in its first year. However, Leno pulled ahead the following year and maintained a strong lead. Letterman underwent emergency heart surgery in 2000 and was off the show for five weeks. He is back on, funny than ever, and that’s where we get “Will it Float or Will it Sink?”
    1993—Top Hits
“That s The Way Love Goes” - Janet Jackson
“Weak”- SWV
“Knockin Da Boots”- H-Town 
“Freak Me”- Silk 
    1996-A truck bomb exploded near Dhahran, Saudi Arabia, killing 19 American military personnel and wounding more than 300 people. Bombed was an apartment complex that housed about 2500 Americans. The CIA stated there were no solid clues about the identity of the perpetrators.
    1996- American Airlines announced its Internet ticket purchasing system was ready for prime time. The airline also said it would introduce ticketless travel in September, “freeing its customers from worry about losing their airline tickets.” Eventually ticket agents would lose their minor commissions, too, as the airlines learned they could oversell airplane seats easier via the computer.
    1997-The National Hockey League announced that it had granted expansion franchises to four cities: Nashville (to begin play in 1998-99), Atlanta (1999-2000), Minneapollis-St. Paul and Columbus (both 2000-2001). The Nashville team chose the nickname Predators. Atlanta, the Thrashers, the Twin Cities as the Minnesota Wild and Columbus as the Blue Jackets. At the same time, the league’s Board of Governors approved the move of the Hartford Whalers to North Carolina where they became known as the Hurricanes.
    1998 - The Supreme Court rejected a line-item veto law as unconstitutional.
      1998—Top Hits
“The Boy Is Mine”- Brandy 
“You re Still The One”- Shania Twain 
“Too Close”- Next 
“My All”- Mariah Carey 
    1998 - Windows 98 was released. Microsoft used the slogan, “Works better. Plays better.” The company said the new operating system would bring an “increased computer experience by providing a rich feature set for a wider variety of users than ever before.” 
    1999 - The San Antonio Spurs earned their first NBA (National Basketball Association) title in their 26-year history by beating the New York Knicks 78-to-77. That gave the Spurs the series 4 games to 1.
    2002—Top Hits
“Hot In Here”-Nelly
“Without Me” -Eminem
“Foolish”- Ashanti
“I Need A Girl (Part One)”- P. Diddy Featuring Usher & Loon
    2004-Eric Clapton raised about $7.5 million for a drug addiction center he set up in the Caribbean by auctioning off some more of his favorite guitars. The items that were sold were the "Blackie" Stratocaster that Clapton played from 1970-1985 for $1 million, a 1964 cherry-red Gibson for $847,000 and a 1939 Martin acoustic that Clapton played on his "Unplugged" album went for $800,000.
    2009 - Michael Jackson died at the age of 50 after suffering heart failure at his home in Beverly Hills. He earned the title of "The King of Pop" by collecting 13 Grammy Awards and 13 US number one singles. Jackson's death triggered an outpouring of grief by music fans around the world, creating unprecedented surges of Internet traffic and causing sales of his music and that of the Jackson 5 to increase dramatically. Michael had been scheduled to perform his 'This Is It' concert series to over one million people at London's O2 arena from July 13, 2009 to March 6, 2010. 




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Top Stories

(chronological order)

- Great News---Richard Wilson Scheduled for Surgery
- Eight Tips to Rethinking Work-Life Success
   Crossing the Corner Office Chasm
- Balboa Capital Dismisses Suit Against Regents Capital;
Regents Capital Sues Balboa for $36,454 Attorney Fees
- Platinum Financial, Orange, California
   Bulletin Board Complaint: $6,236.18
- California Considers Taking Away Bank Subsidiary’s
   Exemption to the California Lenders Law - ELFA Position
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- BBB Ratings --- Complaints Bulletin Board Companies
- BBB Leasing Company Ratings
- The Salary You Must Earn to Buy a Home in 27 Metros
- Brican America Verdict Still Out
- Seeking Confirmation: Direct Capital Sold to CIT?
- Leasing Association Membership Down
   by Christopher Menkin
- Report on NAELB Orlando Florida Conference
   by Dwight Galloway, CLP, RLC Funding
- China Leasing Summit June 18-20
- Marlin's CEO Blames Severe Winter for Temporary Impact
   Turns $4.6 Million Profit for 1st Quarter, 2014
- ELFA 26th Annual National Funding Conference
   By Bruce Kropschot, The Alta Group
- Funding Conference Photographs
- Lease Fleece Judge Verdict on Citibank Kingpin
- New CLP Designation---“Associate”
- Look for More Changes in Conducting Leasing
- ZRG Partners Reports Q1 20% Hiring Growth
- 5 Ways to Give Your Brain a Break Right Now
- Marlin Leasing Getting Back into Broker Business
- LEAF Financial Income Fund III Complaints
   10K Gives Numbers
- “A Great Time to be in the Equipment Leasing Industry”
- The Value of Leasing Beyond Accounting Changes
- Alert: Dallin Hawkins is Back Again
    After His Fourth DUI Arrest
- Ascentium Capital Closes $200 Million Securitization
- Chesswood Record pretax earnings of $19.7 million
- Beyond the Detroit Municipal Bankruptcy Headlines
- Renasant Bank Will Consider Third Party Originations
- US Attorney Indicts EAR President Mark Anstett
   and Two Others for $100 Million Leasing Fraud
- The Controversy Today about Dun & Bradstreet
- Plastic Credit Card Processing Industry on the Way Out?
- Ex-PNC Equipment Finance VP/Regional Manager Arrested
- Why Leasing News is Different
- Top Five Leasing Company Web Sites—
    in North America
Changes in Leasing Web Site Rankings
- Loan/Lease Regulations
- Why Leasing News is Different
- Take Your Banker to Lunch
- Look Out!!! --Two Evergreen/PRR Clause Lessors Merge
   Onset Financial/Mazuma Capital
- Changes in Technology Last 8 years
- Check Your Internet Speed Connection---Why
- Lease Police Tips on Judging Vendors
- Netiquette: Rules of Behavior For Email and the Internet
- Alert: Rudy Trebels Back Soliciting Broker Business
- Fugitive Banker Accused of Faking Own Death
 Found Alive, Now Arrested
- HL Leasing/John Otto--Update
- NorVergence- Year end, 2013
- The Future of Digital: 2013
- DLL Leaves Lessor to Hang
re: Evergreen Clause
- Advice for Broker or Lessor
   Dealing with a Company that Uses Evergreen Clauses
- Balboa Capital Settles Mass Fax Class Action Case
- How to be an “Expert Witness” and Make Extra Income
- Muncipalities and Their Budgets
- Twelve Lawyers Against Evergreen Clause Abuse
- Wants to Go After Lessors and Their Attorneys
   Re: Evergreen Clause Abuses
- Sample of Usury Laws in United States
- Balboa Capital Class Action Case Settled--$5 million?
- Old Cowboy On His Horse
- Leasing Brokers: When May You Collect a Commission?
- Is Long Term Leasing Dead?
- 5 Ways Women Are Better Bosses Than Men
- Balboa Capital, Irvine, California
   $20,543.22 Bulletin Board Complaint
   Alleged “Bait and Switch”
- Twitterverse--Are you a "Tweep" or "Twitterati"?
- Female Lease Finance Association Presidents
- Terry Winders, CLP, Custom Built Poker Tables
   ---Order One for Father’s Day
- Broker’s Responsibility to Obtain
    California Lender’s License
- The Day that Albert Einstein Feared May Have Finally Arrived
- Equipment Finance Agreements Explained/Barry S. Marks
- Chat Acronymns and Keyboard Smilies
- Royal Links "True Lease" Court Ruling
- "The Memory Shock" –New Book by Barry Reitman
- Third-IFC Credit Trustee, Northfield, Illinois
Bulletin Board Complaint
- Four Software Solutions
    re: Digital device/Laptop Lost or Stolen!
- Mazuma and Republic Bank Get Snared on PRR Provision
   by Tom McCurnin, Esq.
- Companies who utilize Evergreen Clauses for Extra Lease Payments
- Jeff Taylor's Leasing Predictions, Spring, 2006
- Radiance Capital, Tacoma, Washington
   Bulletin Board Complaint 
   Purchase Option on EFA, Won’t Return $5,000 S.D.
- New Case against Mazuma Capital and Republic Bank
  ---Automatic Evergreen Payment---PPR
- Republic Bank out of leasing?
Ladco Leasing/Elavon Fined $418,601
- Future of Mobile Devices
- Charles Schwartz and Allied Health
- Copier Wars---It's more than the lease payment
    by Christopher Menkin
- Leasing Gypsies
- OneSource Develops Business License Software
- Talk About Chutzpa, Fanghella has more than Trump
- Verifying Tax Returns
- Special Report: Part I
   Could Church Kiosks, Royal Link Carts, NorVergence results been avoided?

   The use of “Equipment Finance Agreements”
- Special Report: Part II
    Bank of the West

   Equipment Lease Agreement (EFA)
- California License Web Addresses
- Settlement Costs vs. Litigation Costs