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

kitmenkin@leasingnews.org
   

Senior Credit Analyst

Choose Location
Anaheim, CA, Tigard, OR, Federal Way, WA


Middle Market Credits $500,000 to $5MM
including Equipment Leases and Financings
and Recourse and Non-recourse Lines of Credit
-Five or More Years Credit Underwriting Exp.
Some Relocation Provided
click here for more information

Financial Pacific Leasing - Commercial
A subsidiary of Umpqua Bank

 


Tuesday, June 16, 2015



Today's Equipment Leasing Headlines

Top Ten Stories June 8-June 12
(Most Often Opened by Readers)
California Law Now in Effect Broadens Exemption
But More Stringent Provisions as to Licensees

   By Tom McCurnin, Leasing News Legal Editor
California Proposed Law Update:
Third Party Originators: No License Needed

  for Business Loans or Capital Lease
Leasing Industry Help Wanted
    Four Ads
 “Please Share with New Intern/New College Employee”
  Career Crossroad---By Emily Fitzpatrick/RII
Two More Added: Top 25 Most Influential Lawyers
 in Equipment Finance and Leasing
Leasing 102 by Mr. Terry Winders, CLFP
  Qualifying Lessee’s Credit
Why advertisers and publishers are in an uproar
  over Apple's latest move 
Unstoppable: The Story of Asset-based Finance
  and Leasing in Canada
Sudhir Amembal Appointed as Chief Advisor to
China Minsheng International Financial Leasing Co., Ltd.
Australian Shepherd Mix
Salt Lake City, Utah  Adopt-a-Dog
CLFP Summer 2015 Circular
 News for Leasing and Finance Professionals

News Briefs---
National Bank of Greece (NBG) Stock Plummeting
  as Greek Debt Negotiations Fall Apart
Feds Approve Sterling Acquiring Hudson Valley Bank
  Sterling $7.4 billion assets, Hudson $3.2
The growing industry of art leasing
New York-based art-leasing firm Artemus
Lessor GECAS orders 60 Airbus A320neos
 All Aircraft to be powered by CFM’s LEAP-1A Engine
Boeing, Airbus Said to Near $23 Billion Order Book in Paris
Largest Transaction could be for 100 Maxes for Lessor AerCap
Airbus Said to Near GE Lessor Order for $6.4 Billion of A320neos--On Top of Existing Order for 60
Air India to dry lease 14 Airbus A320 planes from Kuwai—
10 Year Lease; Discussing new engines & parts
Overall Deal of the Year 2014
AerCap's $7.6 billion purchase of leasing rival ILFC from AIG
Sale/Leaseback Deal of the Year 2014
Vueling's sale/leaseback transaction
Gun maker Colt files for bankruptcy
 Cites Loses
Donald Trump will declare $9 billion in assets
    as he reveals 2016 plans

Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months

www.leasingcomplaints.com (Be Careful of Doing Business)
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######## 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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[headlines]

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

Top Ten Stories June 8-June 12
(Most Often Opened by Readers)

 

(1) State of California Proposes to Eliminate Exemption
  Enjoyed by Bank Subsidiaries for Lender Licensing
        by Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Jun2015/6_10.htm#state

(2) Top 25 Most Influential Lawyers
   in Equipment Finance and Leasing
http://leasingnews.org/archives/Jun2015/6_10.htm#five

(T) (3) Archives, June 8, 2005 IFC Credit Corporation
  Acquires Blue Dot Funding ---Today: Trebels/Davin/Estok
http://leasingnews.org/archives/Jun2015/6_08.htm#archives

(T) (3) Multiple Bids for GE's U.S. Commercial Lending Business
        Financial News Media Reports
http://leasingnews.org/archives/Jun2015/6_12.htm#ge

(5) Ironic that Peek is at Bank of America
        and Thain is at CIT
            by Christopher Menkin
http://leasingnews.org/archives/Jun2015/6_10.htm#ironic

(6) Bank Officer Gets One Year/$174,000 Judgment
    False Statement to Hide His Bad Loans
http://leasingnews.org/archives/Jun2015/6_12.htm#bank

(7) Top 25 Most Influential Lawyers
  in Equipment Finance and Leasing
http://leasingnews.org/archives/Jun2015/6_08.htm#lawyers

(8) GE takes big step away from banking with $12 billion deal
      "exits a banking sector now under stricter oversight."
http://www.seattletimes.com/business/ge-takes-big-step-away-from-banking-with-12-billion-

(9) Sales Make it Happen by Christopher Menkin
   "What can you learn from GreatAmerica
      Financial Services Financial Services?
http://leasingnews.org/archives/Jun2015/6_12.htm#happen

(10) Leasing 102 by Terry Winders, CLFP
   Captive Lessor Private Label Leasing
http://leasingnews.org/archives/Jun2015/6_08.htm#captive

(11) New Hires---Promotions in the Leasing Business
            and Related Industries
http://leasingnews.org/archives/Jun2015/6_12.htm#hires


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

California Law Now in Effect Broadens Exemption
But More Stringent Provisions as to Licensees

By Tom McCurnin
Leasing News Legal Editor

 The California Legislature Updates the Finance Lender’s Law to Provide Broader Exemption from Licensing.  However, Proposed Bill Prohibits False Representations, Such as Saying You Are a “Funder,” When You Are Not, and Provides Citation Authority for the Department of Oversight.

California Assembly Bill AB 1091

Signed into law by Governor Jerry Brown on September 6, 2013, California Assembly Bill AB 1091, is now in effect.

This updates California’s Finance Lenders Law with two new exemptions and some prohibitions against fraudulent conduct. 

First, the Legislature broadened the exemptions to lenders, so that some lenders are not required to be licensed.  One of the limited licensing exemptions available under California Lender’s Law was a de minimis commercial loan exemption that exempted from licensing any person making just one commercial loan in a 12-month period. Remember a “Capital Lease” is considered a “finance” or “loan,” and the only exemption would be what is called a “true lease” or “operating lease.”  Effective this year, the law has been amended to exempt from licensing any person making five or fewer commercial loans in a 12-month period, as long as the loans are “incidental to the business of the person relying on the exemption.” 

The amendment does not explain when a commercial loan will be deemed “incidental to the business of the person relying upon the exemption,” which is a prerequisite to the use of the exemption. However, the Assembly Floor Analysis specifically refers to "bridge loans" as the type of commercial loans that might qualify for the exemption.  However, the language of the amendment makes it clear that any person relying on the exemption may not be prosecuted. 

Thus, an equipment lessor which underwrote only true leases could now make up to five equipment finance agreements or capital leases without being licensed, and an unlicensed broker could make up to five equipment finance agreements or capital leases.

Second, the amendments to the Finance Lender’s Law carved out a new exemption with a new statute for short term “commercial bridge loans.”  Contained in Financial Code § 22062, the exemption states that the Finance Lender’s Law “does not apply to a commercial bridge loan made by a venture capital company to an operating company.”  This new exemption is probably inapplicable to most leasing companies, although it may apply to combination real estate or refinancing agreements that are part of the new loan or capital
lease agreement.

Third, the amendment expands existing law to prohibit a licensee from misrepresenting any material information regarding a transaction and from committing any act that constitutes fraud or dishonesty.  Contained in a longer version of Financial Code § 22161, the amendment makes it illegal for a licensee to make a materially false or misleading statement, to take unfair advantage of a homeowner in foreclosure, or to conceal a material aspect of a loan.  Previously, fraudulent misrepresentations were prohibited only in advertising.

The above may apply to a party stating they are a “funder,” but which basically refers business to a “funder,” which may be considered a misrepresentation. It specifically states, “(a) Make a materially false or misleading statement or representation to a borrower about the terms or conditions of that borrower’s loan, when making or brokering the loan.”

Finally, the Commissioner is also authorized to issue citations to offenders including a cease and desist order (previously authorized only by the regulations) including an administrative fine of up to $2,500.  The prior law authorized such acts in regulations, but not the underlying statute. 
Financial Code § 227-7.5 “(b) Notwithstanding subdivision (a), nothing in this section shall prevent the commissioner from issuing an order to desist and refrain from engaging in a specific business or activity or activities, or an order to suspend all business operations to a person or licensee who is engaged in or who has engaged in continued or repeated violations of this division. In any of these circumstances, the sanctions authorized under this section shall be separate from, and in addition to, all other administrative, civil, or criminal remedies.

What do these amendments mean for equipment lessors? 

First, if a leasing company is doing only true leases or unlicensed
third party originator,  then the one-time de minimis exemption is increased from one loan a year to five or less. 

Second, if an equipment lessor is actually making bridge loans as defined by the Financial Code, then no license is required.

Third, lest there be any confusion, it is now illegal to lie to your customer. 

Finally, the Commissioner has statutory authority to enforce violations, not merely an administrative guideline. 

The bottom line is that the Finance Lender’s Law is being loosened somewhat for some applications, but licensees may not lie to their customers. 

SB 1091
http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?
bill_id=201320140AB1091

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com
Previous Tom McCurnin Articles:
http://www.leasingnews.org

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 



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

California Proposed Law Update:
Third Party Originators: No License Needed
 for Business Loans or Capital Lease
By Christopher Menkin

Readers have requested an update on California SB 197, which basically allows an unlicensed person to earn a commission from a Finance Licensed Lender for referring a loan or capital lease to them. Introduced by State Senator Marty Block, it has gone through several amendments and is again to be heard, with the latest amendments accepted by the author, on June 22, 2015 by the Assembly Bank & Finance Committee.

The bill actually weakens the current Finance Lender’s Law by not requiring a license and, under present law, the California Finance Lenders Licensee enforces only those who have been licensed, not unlicensed.  It would then be up to the Business Oversight unit for consumer investigations.  At present, the attitude encountered toward business complaints, as experienced by those many who have appeared in the Leasing Complaint Bulletin Board, are considered business disputes; meaning Business Oversight tells those with
a complaint: take the matter to court; it is a business dispute

There have been prior amendments changing the wording to “not limited” perhaps to accept “application only” transactions.  Another has stripped the requirement of declaring the fee dollar amount to be awarded to the referrer and another is the wording that the borrower or lessee must sign as the agreement that the party making the referral is getting a “commission.” The penalty has been dropped.

The latest change made to the bill, June 8, 2015, strengthens the interest not to exceed 36% interest and changes the wording from “referral fees” to “compensation,” and:

“(d) The licensee maintains records of all compensation paid to unlicensed persons and companies in connection with the referral of prospective commercial borrowers for a period of at least four years.”

“22603. At the time a licensee that is a finance lender receives an application for a commercial loan from a prospective borrower who has been referred by an unlicensed person or company, it shall provide the following written statement to the prospective borrower, in no smaller than 10-point type, and shall ask the applicant to acknowledge receipt of the statement in writing:

“You have been referred to us by [Name of Unlicensed Person or Company]. If you are approved for the loan, we may pay a fee to [Name of Unlicensed Person or Company ] for the successful referral. If you wish to report a complaint about this loan transaction, you may contact the Department of Business Oversight, Division of Corporations at 1-866-ASK-CORP (1-866-275-2677), or file your complaint online at www.dbo.ca.gov.”

In reality, as noted above in Tom McCurnin’s article, five transactions per year are permitted by unlicensed finance lenders to those licensed. There are also penalties already in existence, with the strongest a “cease and desist.”

Coda: California State Senator Marty Block, District 27 (Cities of San Diego, Coronado, Del Mar, and Solana Beach) He chairs the Senate Education Budget Subcommittee, the Senate Committee on Banking and Financial Institutions, the Capitol Knesset, and the Legislative Jewish Caucus.

Senator Block was elected to the California State Assembly in 2008 where he represented the 78th Assembly District until his election to the Senate. He served as chair of the Assembly Higher Education Committee for three years.

Senator Block previously served for 8 years as a member of the San Diego County Board of Education and then served 8 years as President of the San Diego Community College District Board of Trustees.  During that period he also served as a San Diego Superior Court Judge pro Tem, Statewide President of the California County Boards of Education, President of the San Diego Chapter of the American Jewish Committee, and Founding Chair of the San Diego Latino/Jewish Coalition.
http://sd39.senate.ca.gov/biography

SB 197 Latest Amendments
http://leginfo.legislature.ca.gov/faces/billCompareClient.xhtml

 

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

Leasing Industry Help Wanted
One Remotely/One in Anaheim, California


Senior Credit Analyst

Choose Location
Anaheim, CA, Tigard, OR, Federal Way, WA


Middle Market Credits $500,000 to $5MM
including Equipment Leases and Financings
and Recourse and Non-recourse Lines of Credit
-Five or More Years Credit Underwriting Exp.
Some Relocation Provided
click here for more information

Financial Pacific Leasing - Commercial
A subsidiary of Umpqua Bank


Documentation
Anaheim, CA


Financial Pacific Leasing’s Commercial team in Anaheim, CA is growing their Documentation/Funding group and looking for someone with an keen attention to detail and ready for the opportunity to work hard, learn and grow.

Please click here for more information.

www.finpac.com
A subsidiary of Umpqua Ban
k


 

Finance Officer

Fleet Financing Resources, LLC. is seeking candidates
to join our team. 3 yrs. sales exp. in the equipment leasing
& finance with pref. of titled transportation equipment

Click here for more information

www.FFResources.com
Nationwide Leasing & Financing of Commercial Fleets

 

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

 “Please Share with New Intern/New College Employee”
Career Crossroad---By Emily Fitzpatrick/RII

Q: I found my first job through a college recruiter and was hired with other fellow students. In two weeks, I am starting a new position that I sought out and am a bit nervous, any tips. 


A: A majority of employers engage in an onboard process. This process refers to the process “ … through which new employees acquire the necessary knowledge, skills, and behaviors to become effective organizational members … including formal meetings, orientations, etc.… to introduce newcomers to their jobs and organizations … Research has demonstrated that these socialization techniques lead to positive outcomes for new employees such as higher job satisfaction and better job performance, etc.…"  
From the employee perspective, thinking strategically at the beginning of a new position will make the employee well received and likely more successful in their position. First impressions will be critical so be deliberate and savvy about creating the right image.
First, take some time to reacquaint yourself with the organization and its mission. This task can be as simple as reviewing the company’s website or reviewing HR/interview notes. 

   Day one or within the first few weeks:

    • Identify star performers and analyze what has made them successful
    • Associate with positive people and avoid complainers/slackers at all costs
    • Assess the preferences/expectations of your supervisor- listen carefully to the directions that he/she offers and ask colleagues for suggestions on ways to measure up to expectations
    • Seek input and assistance when you are stumped but try to avoid being too needy
    • Try to solve as many problems as possible on your own or with input from colleagues
    • Endeavor to arrive earlier and/or stay later than your supervisor to prove you are ready to work hard
    • Strive for a perfect attendance record during your first two years
    • Create a professional development plan with clear goals and objectives

 

Good Luck in your new role & for more advice, contact info@riirecruit.com

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

 

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

Two More Added: Top 25 Most Influential Lawyers
in Equipment Finance and Leasing

New to be added to the List:


Thomas V. Askounis is in the news a lot handling many major leasing and finance cases. He is very active with the Equipment Leasing and Finance Association, currently serves as a member of the Board of Directors and the Service Providers Business Council. He also served on the board of Director of the now National Equipment Finance Association. He previously served as President of the Hellenic Bar Association and is currently a member of the Leasing Subcommittee of the American Bar Association. He has 40 years’ experience in many top leasing and finance cases.


David G. Mayer---Perhaps best known as the author of "Business Leasing for Dummies" (September, 2001) as well as an online newsletter "Business Leasing and Finance News" (2002-2012) which had 6,000 subscribers in 33 countries. He has written other articles, primarily on business aviation, aircraft leasing and finance, which he is known, especially involving international and cross-border transactions.  He started this specialist rising to Senior Counsel, GATX Corp, then going as corporate counsel, primarily in transportation equipment, including aircraft, vessels, truck and trailers, including project financing and operation. He is active in the Equipment Leasing and Finance Association, as well as has been a contributing author to the Equipment Leasing and Finance Foundation surveys. He is an
Eagle Scout.

Past Nominees:

Most Influential Lawyers
in Equipment Finance and Leasing
 

Joe Bonanno, CLFP
James Coston
Kenneth Charles Green, Esq.
Michael A. Leichtling
Barry Marks, Esq.
Frank Peretore
Ellen Michelle Stern
Michael J. Witt

Past Nominee Full List

 

Please submit your nomination with at least a paragraph of why
the person should be considered one of Most Influential
Lawyers in the Equipment Finance and Leasing industry.

    kitmenkin@leasingnews.org

 


(Leasing News provides this ad as a trade for appraisals and equipment valuations provided by Ed Castagna)


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

(Terry retired January 1, 2015.  To honor him and his many years of writing for readers of Leasing News, is repeating several of his columns that are still meaningful today. Here is August 12, 2013.)

Qualifying Lessee’s Credit


While the Internet has brought many changes in the way leasing business is being conducted, often by smartphone, information sent and received over the Internet, and the reliance particularly in the small ticket marketplace of obtaining the last three month’s worth of bank statements, often turns into a quick “no.” The one-two procedure inhibits an approval as well as a relationship for repeat business by being of help to your client, or if you are a credit investigator, overlooking what is really a good piece of business.

I know the trend is to say you can approve a lease in 15 minutes, an hour, two hours, or just plain very fast. Many are missing some good opportunities by not going the extra distance.

You can use typical credit reporting agencies to qualify the credit of your lessee, but on occasion it takes more than credit to qualify a lease transaction. Nothing beats a visit to the client’s place of business. One procedure I like is a walk through the lessee’s operation. If you are observant there is a lot to learn about the lessee from just such a visit. (Yogi: “You can observe a lot by watching).

Questions on your mind should be: how many employees and are they working or just standing around? Is the place clean and organized or dirty and sloppy? How many types of equipment do they have--- and do they look new or used and what shape are they in?

Not done enough today, talk to the landlord to see if the rent has been paid on time or have they been late on occasion. If they own the facilities, talk to the mortgage holder; not just for how they pay the bills, but determine how much equity they have. This can add a lot to make a more positive decision.

All equipment needs maintenance, so check the lessee’s ability to properly maintain the equipment. If they need to take it back to the vendor for maintenance, then check the location of the vendor and the cost of regular repair and the effect of down time. You might even pick up vendor business.

If maintenance is on a regular schedule, then skip payments may be attractive so the available money can be used to keep the equipment in good working order. Think about what you can offer to make the deal.

Is the equipment a necessary part of the company’s operation. How many pieces of like equipment do they have? How have they been maintained? Can they operate without this equipment and is the equipment a replacement or an addition?

Is the lessee looking for additional help or is their labor force intact?  Where do they stand with their competition and how long have they been in business? Paul Menzel’s first company, as I remember, had a credit manager who required the name and telephone number of three competitors to learn more about the company. The responses always helped overcome some slowness in credit by understanding what was happening to the specific industry, and what the competitors told him.

Credit reporting is necessary, but sometimes going the extra distance will help you become more successful with your customers and your approval ratio.

Some of the largest losses in our business came from good credit reports, but any investigation of the current operation would have raised many red flags.

Your extra effort will pay off with building your reputation in the company.
My experience is a good credit investigation often returns a lot more than a financial analysis.  

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

 

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

Why advertisers and publishers are in an uproar
over Apple's latest move

By Margaret Boland/Mark Hoelzel
Business insider Intelligence Report

Apple is enabling mobile ad blocking on IOS 9. Apple will allow developers to build extensions that block ads on Safari for iOS 9, according to developer documentation reviewed by NiemanLab.

This created an uproar in the publishing and online advertising industries. Both industries have worried about the effects of ad blockers for several years, but before now the software was largely only available on desktop web browsers.

The ability to build ad block extensions for Safari is a big step toward bringing the technology to the mainstream on mobile. Ad blocking extensions could become available as soon as the fall of this year for all iOS 9 devices, according to NiemanLab.

The number of people downloading ad-blocking software is growing. In 2014, an estimated 144 million people globally used ad blockers, a 70% year-on-year increase, according to a report by Adobe and PageFair.

Millennials, an important demographic for advertisers, account for 41% of the total of US internet users who install ad-blockers, according to the report. Although these numbers largely reflect ad blockers on desktop web browsers, it would not be surprising if these numbers carried over to ad blockers on mobile devices once developers begin building extensions for Safari.

Safari users make up around 52% of mobile and tablet web users in the US, according to data compiled by StatCounter. This means that a majority of mobile web users will be able to access an easy method to block ads.

If ad blockers for iOS 9 attract the same sort of popularity as desktop web ad blockers, it could be a devastating blow for publishers and advertisers looking to reach a growing mobile audience. As we've noted before, advertisers that pay on a cost-per-impression basis could end up paying for ads that are delivered to a device, but that a viewer cannot see. Likewise, publishers that charge advertisers based on performance could lose revenue as viewers are not given the opportunity to even click on an ad.

 

Receivables Management LLC
John Kenny

• End of Lease Negotiations & Enforcement 
• Third-Party Commercial Collections

john@jkrmdirect.com | ph 315-866-1167
www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)

 

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

Unstoppable: The Story of Asset-based Finance
and Leasing in Canada

Hugh Swandel, Senior Managing Director-Canada, The Alta Group, recommends "Unstoppable: The Story of Asset-based Finance and Leasing in Canada."

Published September 9, 2014 it is available in Kindle
at CDN$9.99 or Hardcover CDN$25.99.
http://www.amazon.ca/Unstoppable-Story-Asset-Based-Leasing-Canada/dp/0991741196/

"Unstoppable tells the previously untold story of a business that has grown to be the largest source of debt financing to Canadian consumers outside of the traditional bank loan. This book covers the rollercoaster ride of asset-based finance, now a $300 billion business, through interviews with business trailblazers such as Jim Pattison and Steve Hudson, who led the industry for the past half century. It is an entertaining and personal business history that will inspire both students of business history and entrepreneurs alike. Unstoppable shows how this form of finance helped to grow Canada’s former industrial economy."

The book will be added to:
Equipment Leasing Books
Considered Current
http://leasingnews.org/archives/Jun2015/6_10.htm#books

 

 

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

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

Sudhir Amembal Appointed as Chief Advisor to
China Minsheng International Financial Leasing Co., Ltd.

Amembal & Halladay is pleased to announce that Sudhir P. Amembal, its Chairman and CEO, has been appointed as Chief Advisor to China Minsheng International Financial Leasing Co., Ltd. (CMIFL). The company was awarded with the Honorary Title of "Best Chinese Financing Lease Companyin 2014 at the 2014 Chinese Financing Lease Annual Meeting, which is jointly held by China Association of Enterprises With Foreign Investment and China Banking Association,

CMIFL is a Sino-Foreign financial leasing joint venture established in April 2015 between China Minsheng Investment Corp., Ltd. (CMI) and Hana Bank of South Korea.  CMI is the first large national-level private investment company launched by 59 well-known private Chinese entities.  Its registered capital is US$8 billion.  Its business encompasses equity investments, equity investment management, business and financial consulting, industrial investment and asset management.  Hana Bank, having a global presence, is the largest bank in South Korea.

Ms. Wang Rong, the Chairperson and CEO of CMIFL, President of Hana Bank, stated, “With Mr. Amembal as our Chief Advisor, we will gain a much better insight into overseas leasing markets, which in turn will assist us in our overall strategy and our objective toward internationalization.”

CMIFL plans to have a presence in both Chinese and overseas markets.  Its business strategy is to engage in leasing via investments and to support investments via leasing.  Its core business will comprise of aviation, shipping and alternative energy equipment.

Mr. Amembal stated, “I am honored to serve as the Chief Advisor to CMIFL.  It has a unique global strategy, is richly capitalized, and will benefit from the vast network provided by both CMI and Hana Bank.  In addition, its senior management is comprised of extremely well-experienced and reputable Chinese leasing professionals.”

Amembal & Halladay (A&H) and its predecessor, Amembal & Associates, the first entity formed to serve the global equipment leasing industry in 1978, is the world’s foremost and most highly respected firm in equipment lease training, consultancy, and publications. A&H has trained over 75,000 leasing professionals in 80-plus countries and has authored and published 16 industry best-sellers. Consultancy services have been provided to over 20 governments as well as to numerous well-known and blue chip leasing companies around the globe. As its CEO, Mr. Amembal has chaired the Annual World Leasing Convention continually since 1993.

 


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

Australian Shepherd Mix
Salt Lake City, Utah  Adopt-a-Dog


Maylene
ID#A423048
"I am a spayed female, tricolor Australian Shepherd mix.

"The shelter staff thinks I am about 4 years old.

"I have been at the shelter since May 19, 2015."

For more information about this animal, call:
County Shelter - 511 W 3900 S at (385) 468-7387
Ask for information about animal ID number A423048

Adoption Process:
http://slco.org/animalservices/html/adoptions/adoptionsProcess.html

Salt Lake County Animal Services
511 W 3900 S
Salt Lake City, Utah  84123

Shelter Hours of Operation
Monday - Saturday
10:00am - 6:00pm
Closed Sundays and Holidays

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

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

 


Stories include: Incorporating Electronic Documents into Your Business: Part 2 by Brian Schonfeld, Project & Information Manager, Pawnee Leasing Corp., First Academy for Lease & Finance Professionals, Message from the President, New CLFPs and CLFP Associates, In the News.

Summer Circular
http://www.leasingnews.org/PDF/CLFPCircular62015.pdf

 

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

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


News Briefs----

National Bank of Greece (NBG) Stock Plummeting
  as Greek Debt Negotiations Fall Apart
http://www.thestreet.com/story/13186025/1/national-bank-of-greece-nbg-stock-plummeting-as-debt-negotiations-fall-apart.html

Feds Approve Sterling Acquiring Hudson Valley Bank
  Sterling $7.4 billion assets, Hudson $3.2
http://www.leasingnews.org/PDF/SterlingApprove62015.pdf

The growing industry of art leasing
New York-based art-leasing firm Artemus
http://www.ft.com/cms/s/0/f69a2d7c-0dcb-11e5-9a65-00144feabdc0.html 

Lessor GECAS orders 60 Airbus A320neos
 All Aircraft to be powered by CFM’s LEAP-1A Engine
http://atwonline.com/lessors/lessor-gecas-orders-60-airbus-a320neos

Boeing, Airbus Said to Near $23 Billion Order Book in Paris
Largest Transaction could be for 100 Maxes for Lessor AerCap
http://www.bloomberg.com/news/articles/2015-06-14/boeing-airbus-said-to-near-23-billion-order-haul-at-air-show

Airbus Said to Near GE Lessor Order for $6.4 Billion of A320neos--On Top of Existing Order for 60
http://www.bloomberg.com/news/articles/2015-06-14/airbus-said-to-near-ge-lessor-order-for-6-4-billion-of-a320neos

Air India to dry lease 14 Airbus A320 planes from Kuwai—
10 Year Lease; Discussing new engines & parts
http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/air-india-to-dry-lease-14-airbus-a320-planes-from-kuwait/articleshow/47663160.cms 

Overall Deal of the Year 2014
AerCap's $7.6 billion purchase of leasing rival ILFC from AIG
http://www.airfinancejournal.com/article/3462167/Overall-Deal-of-the-Year-2014.html

Sale/Leaseback Deal of the Year 2014
Vueling's sale/leaseback transaction
http://www.airfinancejournal.com/Article/3462055/SaleLeaseback-Deal-of-the-Year.html

Gun maker Colt files for bankruptcy
 Cites Loses
http://nypost.com/2015/06/15/gun-maker-colt-files-for-bankruptcy/

Donald Trump will declare $9 billion in assets
    as he reveals 2016 plans
http://www.washingtonpost.com/politics/exclusive-trump-will-declare-9-billion-net-worth-as-he-reveals-2016-plans/2015/06/15/a00e74c0-137c-11e5-9ddc-e3353542100c_story.html



[headlines]

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



--You May Have Missed It

What's up with those credit card chips?
http://www.utsandiego.com/news/2015/jun/15/visa-mastercard-amex-security-chips-fraud/


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

SparkPeople--Live Healthier and Longer



The Iron Truth about Kettlebell Training
Find Out If This Fitness Trend Is Right for You
http://www.sparkpeople.com/resource/fitness_articles.asp?id=1222


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

Baseball Poem

Excerpts from:
"Baseball According to Lao-Tzu" by John W. Hart III,
illustrations by Adam R. Factor

You can talk baseball, but not the Eternal Baseball.
Hall of Famers can be named, but not the superstar.

As the beginnings of time, it is nameless.
As the creator of all things, it is named.

So, what is hidden, we inspect its inner essence.
And what is real, we look at its appearance.

The real, the eternal and the nameless, all flow
From the same source, but take different paths.

All is Poetry.
Baseball is Poetry.


When the world has the Tao,
Outfielders race across a sea of green.

When the world is without,
Outfielders jake it on unimportant plays.

There is nothing worse than not knowing when to stop.

Only those who know when to retire
Will always have enough.


The Tao of Baseball is like an empty dish
That can never be filled up.
It feeds all and is endless.
It cleans pine tar off suspected bats.
It unifies all clubhouse squabbles.
It unites the fans.
It brings absolute harmony during the Seventh Inning Stretch.

Baseball is hidden and timeless.
Baseball is the Universe.

Baseball is a chocolate smile on a child's face.
Baseball is a businessman scouring the box scores during lunch break.

It is the father and mother of all things.


Pitchers who know batters are clever;
Pitchers who know themselves have insight.
Those who complain show force.
Those who sit are truly strong.

When you know you have enough
You become rich.

It is those who play for the game
And not for the money
Are the ones who are truly rich.


[headlines]

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Sports Briefs----

Cavaliers owner takes shot at Warriors
http://www.contracostatimes.com/ci_28312304/cavaliers-owner-takes-shot-at-warriors

"I'm the best basketball player in the world. It's just that simple."
http://www.sfgate.com/sports/article/Cavs-waste-James-stellar-Game-5-in-104-91-loss-6326971.php

49ers sign three; reach 90-man roster limit
http://www.sacbee.com/sports/nfl/san-francisco-49ers/article24524425.html

Super Bowl 50 in Santa Clara, California
50 Awesome Things to Do
http://www.santaclara.org/

49ers putting footwork back in Colin Kaepernick's game
http://www.pressdemocrat.com/sports/4058388-181/grant-cohn-49ers-putting-footwork 

49ers coaches want to see Jarryd Hayne in pads
http://www.sacbee.com/sports/nfl/san-francisco-49ers/article23851786.html
        
Cavaliers owner takes shot at Warriors
http://www.contracostatimes.com/ci_28312304/cavaliers-owner-takes-shot-at-warriors

49ers sign three; reach 90-man roster limit
http://www.sacbee.com/sports/nfl/san-francisco-49ers/article24524425.html 

WWE Money in the Bank 2015 Results:
Biggest Winners and Losers from PPV
http://bleacherreport.com/articles/2496385-wwe-money-in-the-bank-2015-results-biggest-winners-and-losers-from-ppv/page/2

U.S Bank confirms naming rights deal for new Vikings stadium
http://www.bizjournals.com/twincities/blog/sports-business/2015/06/u-s-bank-pays-220m-for-vikings-stadium-naming.html


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


California Nuts Briefs---

Brewing notable with Mexican roots donates $1 million
  to UC Davis beer program
http://www.sacbee.com/news/local/article24432208.html



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


“Gimme that Wine”

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

Grand jury wants Napa County to meter rural wells
http://napavalleyregister.com/news/local/grand-jury-wants-napa-county-to-meter-rural-wells/article_eca665fe-fd14-5d8d-be8b-bf8fdcc6648e.html

Wilson Winery events under scrutiny
http://www.pressdemocrat.com/business/4061104-181/wilson-winery-events-under-scrutinyr

Three Studies on California Women Winemakers (24 pages)
http://www.wine-economics.org/aawe/wp-content/uploads/2015/05/AAWE_WP178.pdf

L’Ecole No. 41’s iconic schoolhouse turns 100
http://www.greatnorthwestwine.com/2015/06/11/lecole-no-41-schoolhouse/


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

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

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

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

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

This Day in American History

      1738 - Birthday of Mary Katherine Goddard (1738-1816) in colonial Connecticut.  She was a Colonial printer and publisher, the first to publish the Declaration of Independence. Her widowed mother worked in her son's printing plant in Rhode Island as she did. When he moved away leaving it in debt, the women continued the business and published the Providence Gazette. They sold it and moved to Philadelphia to publish the Pennsylvania Chronicle. Selling this paper, she moved to Maryland as the editor and publisher of the Maryland Journal which she published right through the Revolutionary War.
http://www.rebelswithavision.com/MaryKatherineGoddard.com/
http://www.baltimoremd.com/monuments/goddard.html
    1745 – New England colonial troops under the command of William Pepperell captured the French Fortress of Louisburg, Nova Scotia.
    1755 - British captured Fort Beausejour and expelled the Acadians. The Acadians of Nova Scotia were uprooted by an English governor and forced to leave. Some 10,000 people moved to destinations like Maine and Louisiana, the latter becoming known as Cajuns. Some moved to Iles-de-la-Madeleine off Quebec. The Longfellow story "Evangeline" is based on this displacement.  This was the final act in the long fight between Britain and France for control of Acadia, and the opening act of the final struggle between the two great empires for North America.  Renamed in 1755 Fort Cumberland by the British, it was the site of the Battle of Fort Cumberland during the Revolutionary War.
    1775 - American Col. William Prescott led 1200 men from Cambridge to dig in at Bunker’s Hill but arrived at night and dug in at Breed’s Hill. A siege on Boston by Colonial militia generals John Stark and Israel Putnam prompted the British to attack.
    1777 – Ethan Allen’s Green Mountain Boys routed the British in the Battle of Bennington (VT).
    1806 - A total eclipse of the sun was viewed from southern California to Massachusetts.
    1822 - Denmark Vessy led a slave rebellion in South Carolina.  According to reports, between 35 to 37 blacks slaves were hung, and perhaps up to 50 exiled into slavery into other parts of the world. The revolt had the opposite effect, arming whites, restricting travel of Blacks, education, bringing fear to whites of further black revolt and further laws of “repression.”
http://www.aaregistry.com/african_american_history/510
/Slave_revolutionary_Denmark_Vesey_wanted_freedom

http://docsouth.unc.edu/church/hamilton/menu.html
http://www.afrigeneas.com/states/sc/SC-biblio.htm
http://www.digitalhistory.uh.edu/black_voices/voices_display.cfm?id=25
http://www.cr.nps.gov/nr/travel/charleston/ssa.htm
    1829 – Geronimo (1829-1909) was born in Turkey Creek near the Gila River in what was then Mexico and is now Arizona.  A prominent chief of the Bedonkohe Apache who fought against Mexico and Arizona for their expansion into Apache tribal lands for several decades during the Apache Wars, Geronimo was the name given to him during a battle with Mexican soldiers. Geronimo's Chiricahua name is often rendered in English as Goyathlay or Goyahkla.  After a Mexican attack on his tribe, where soldiers killed his mother, wife, and his three children in 1858, Geronimo joined a number of revenge attacks against the Mexicans.  In 1886, after a lengthy pursuit, Geronimo surrendered to Arizona faux-gubernatorial authorities as a POW. At an old age, he became a celebrity, appearing at fairs, but he was never allowed to return to the land of his birth.
    1858 - In a speech in Springfield, Illinois, Senate candidate Abraham Lincoln said the slavery issue had to be resolved, declaring, "A house divided against itself cannot stand."
    1864 – Gen. Grant began the siege of Petersburg, VA, a key battle toward ending the Civil War.
    1873 – President Grant decreed the Wallowa Valley for Nez Perce Indians.  The Wallowa Valley was home to Chief Joseph’s band of the Nez Perce Tribe. Chief Joseph asked the first white settlers to leave when they arrived in 1871.  The US government expelled the tribe and seized their property and livestock in 1877, despite Grant’s decree, when non-Indian farmers and ranchers wanted to settle the fertile Wallowa Valley. The tribe was barred from returning to their homeland by the government after repeated petitions. The tribal members were shipped in unheated box cars to Indian Territory (now Oklahoma) to be placed in a prisoner of war camp never to see their home again.
    1882 - 17" hailstones weighing 1.75 lbs. fall in Dubuque, Iowa. Small still- living frogs are found in some of those hailstones.
    1884 – At Coney Island in Brooklyn, the first roller coaster in America opened, LaMarcus Adna Thompson’s “Switchback Railway”.
    1890 – Stan Laurel (1890-1965) was born in Lancashire, England.  As part of the hilarious comedy team of Laurel and Hardy during the early days of film, they began sharing the screen in “Slipping Wives”, “Duck Soup” (1927) and “With Love and Hisses”. The two became friends and their comic chemistry soon became obvious. Hal Roach Studios' supervising director Leo McCarey noticed the audience reaction to them and began teaming them, leading to the creation of the “Laurel and Hardy” series later that year.  Their careers extended well into the 1940s.  At Laurel’s funeral, silent screen comedian Buster Keaton was overheard talking about Laurel's talent: "Chaplin wasn't the funniest, I wasn't the funniest, this man was the funniest."
    1892 - Birthday of Jennie Grossinger (1892-1972), Austrian-born American hotel executive and philanthropist. She managed a small family inn operating on a small chicken farm taking in summer boarders to one of the most famous resort hotels in the world: Grossinger's in the Catskills Mountains. At her death in 1964, Grossinger's resort consisted of 35 buildings on 1,200 acres and served 150,000 guests a year. Her children carry on the tradition. In the beginning, her mother was the cook for the guests, her father did the maintenance, and Jennie was both chambermaid and bookkeeper.
    1883 - The New York Giants hosted the first Ladies’ Day baseball game. Both escorted and unescorted ladies were admitted to the game free.
    1897 - The government signed a treaty of annexation with the Republic of Hawaii.
    1902 - Birthday of Barbara McClintock (1902-92) in Hartford, CT.  Her groundbreaking work in genetics and the precursor of DNA was published in 1951 and had to wait 32 years to be honored with the Nobel Prize. She was 49 when she published and 81 when she was awarded the Nobel.
    1903 - Ford Motor Company was incorporated.
    1904 - James Joyce meets Nora Barnacle, a chambermaid at Finn's Hotel, Dublin, Ireland, and takes her for a walk. This is the day of Leopold Bloom's fictional odyssey through Dublin in “Ulysses”. This date is now known as Bloomsday.
    1909 - The first airplane sold commercially was the “Gold Bug,” delivered by Glenn Hammond Curtis to the New York Aeronautical Society at Hammondsport, NY, for $5,000. Flying instructions were given to two members.
    1909 – Jim Thorpe made his baseball pitching debut for the Rocky Mount Railroaders with a 4-2 win over the Raleigh Red Birds in the Eastern Carolina League. It is the professional play in this year that later caused him to lose his Olympic gold medals won in the 1912 Olympics, thus violating the amateur status rules. In 1983, thirty years after his death, his medals were restored by the IOC.
    1911 - A 1.7 lb. stony meteorite struck the earth near Kilbourn, Columbia County, Wisconsin, damaging a barn.
    1917 – Birthday of Katharine Meyer Graham (1917-2001) in NYC.  U.S. newspaper publisher who guided the Washington Post (and Newsweek magazine) to a place of prominence. Under her direction, they challenged such national newspapers as the New York Times and Los Angeles Times, and Time magazine. She hired a strong staff of reporters and editors. She personally gave the go ahead to Post stories that exposed the Nixon political abuses during Watergate that led to his resignation. She never, in the face of intense political pressure, failed to support her staff. In fact, Nixon’s Attorney General John Mitchell had chortled after a Post article on the corruption of the Nixon administration that “this time she’s got her tit in a wringer.” He was that confident of the administration’s power to crush her. He went to jail instead.  In 2013, the newspaper was purchased by Amazon founder Jeff Bezos for $250 million in cash.
http://www.usatoday.com/news/washington/july01/2001-07-17-graham-dead.htm
    1917 - Birthday of photographer Irving Penn (1917-2009) in Plainfield, NJ. 
http://www.tfaoi.com/aa/1aa/1aa393.htm
http://www.artic.edu/aic/books/subpenn.html
http://www.execpc.com/~torrey/notefoto.html#P
http://www.amazon.co.uk/exec/obidos/ASIN/082122459X/026-9304654-2918861
    1917 - The temperature soared to 124 degrees at Mecca climaxing the most destructive heat wave of record in California history.
http://en.wikipedia.org/wiki/Mecca,_California
    1920 - Birthday of John Howard Griffin (1920-80) in Dallas.  American author and photographer, deeply concerned about racial problems in US. To better understand blacks in American South, Griffin blackened his skin by the use of chemicals and ultraviolet light, keeping a journal as he traveled through the South, resulting his best-known book, “Black Like Me.” Life Magazine syndicated the book, which was instrumental in the Civil Rights movement of the 60’s.
    1922 - Henry Berliner accomplished the first helicopter flight at College Park, MD.
    1924 - Tenor saxophonist Eli “Lucky” Thompson’s (1924-2005) birthday in Columbia, SC.  While John Coltrane usually receives the most credit for bringing the soprano saxophone out of obsolescence in the early 1960s, Thompson (along with Steve Lacy) embraced the instrument earlier than Coltrane
http://www.fact-index.com/l/lu/lucky_thompson.html
http://www.artistdirect.com/music/artist/bio/0,,501507,00.html?
artist=Lucky+Thompson

    1933 - Congress passed the Glass-Steagall Act, known as the Banking Act of 1933, creating bank deposit insurance and the FDIC.  There was a sliding scale of protection, up to 50% over $50,000. On August 23, 1935, the law was changed to a limit of $5,000 for any one depositor “to provide for the sound, effective and uninterrupted operation of the banking system, and for other purposes.” Banks were regulated to obtain this insurance, which changed banking for both the business community and consumers, giving them more protection and regulating the banking industry.  It was the first time that currency was permitted to be allocated for the Federal Reserve System. It was passed in February 1932 in an effort to stop deflation and expanded the Fed’s's ability to offer rediscounts on more types of assets such as government bonds and commercial paper. The Glass–Steagall Act of 1932 authorized Federal Reserve Banks to (1) lend to five or more FRS member banks on a group basis or to any individual member bank with capital stock of $5 million or less against any satisfactory collateral, not only “eligible paper,” and (2) issue FRB Notes (i.e., paper currency) backed by US government securities when a shortage of “eligible paper” held by Federal Reserve banks would have required such currency to be backed by gold.  The Federal Reserve Board explained that the special lending to Federal Reserve member banks permitted by the 1932 Glass–Steagall Act would only be permitted in “unusual and temporary circumstances.”  It was also under Glass-Steagall that consumer and commercial banks were prohibited from dealing in what is now today’s investment banking, seeking to keep deposits of customers away from speculation, a root cause of the Depression.  Glass-Steagall was largely overturned in the legislation that among other things, allowed the merger of Citigroup and The Travelers’ Insurance Company in 1998.
    1937 – The Marx Brothers movie, “A Day at the Races”, opened in LA.   
    1937 – Erich Segal (1937-2010) was born in Brooklyn.  He was best known for writing the novel “Love Story” (1970), a best-seller, and writing the motion picture of the same name, which was a major hit.
    1937 – Author Joyce Carol Oates was born in Lockport, NY.
    1938 - The St. Louis Browns walked Red Sox slugger Jimmie Foxx all six times he came to bat but the Browns still won, 12-8. This set the American League record for in a nine-inning game and matched the mark set by Walt Wilmot in the National League in 1891.
    1939 – Country rock singer Billy (Crash) Craddock was born in Greensboro, North Carolina. Craddock scored a hit on the pop charts in 1959 with “Don’t Destroy Me,” then quit the music business because his record company wouldn’t allow him to record country songs. Craddock began recording again in the late 1960’s, scoring hits with such rock-oriented country tunes as “Dream Lover,” a former chart success for Johnny Burnette, and “Knock Three Times,” a hit on the pop charts for Dawn. Billy (Crash) Craddock topped the Billboard country chart in 1977 with “Broken Down in Tiny Pieces.”
    1940 – Blues singer Nolan Struck born Dunson, LA
http://centerstage.net/music/whoswho/NolanStruck.html
    1941 – The first federally-owned airport, National Airport, opened in Washington, DC.  Between 1926 and 1938, there was a statutory prohibition against federal development of airports. When Congress lifted the prohibition in 1938, President Franklin Roosevelt made a recess appropriation of $15 million to build National Airport by reallocating funds from other purposes. Construction of Washington National Airport began in 1940–41 although Congress challenged the legality of FDR's recess appropriation, but construction of the new airport continued.
    1941 – President Roosevelt ordered the closure of all German consulates in the US no later than July 10.
    1941 – LaMont Dozier was born in Detroit.  A member of the Holland-Dozier-Holland songwriting team responsible for much of the Motown sound and numerous hit records by artists such as Martha and The Vandellas, The Supremes, The Four Tops, and The Isley Brothers, along with Brian Holland, Dozier served as the team's musical arranger and producer, while Eddie Holland concentrated mainly on lyrics and vocal production.
    1943 - *SARNOSKI, JOSEPH R., (Air Mission) Medal of Honor
Rank and organization: Second Lieutenant, U.S. Army Air Corps, 43rd Bomber Group, Place and date: Over Buka Area, Solomon Islands, 16 June 1943. Entered service at: Simpson, Pa. Born. 30 January 1915, Simpson, Pa. G.O. No.: 85, 17 December 1943. Citation: For conspicuous gallantry and intrepidity in action above and beyond the call of duty. On 16 June 1943, 2d Lt. Sarnoski volunteered as bombardier of a crew on an important photographic mapping mission covering the heavily defended Buka area, Solomon Islands. When the mission was nearly completed, about 20 enemy fighters intercepted. At the nose guns, 2d Lt. Sarnoski fought off the first attackers, making it possible for the pilot to finish the plotted course. When a coordinated frontal attack by the enemy extensively damaged his bomber, and seriously injured 5 of the crew, 2d Lt. Sarnoski, though wounded, continued firing and shot down 2 enemy planes. A 20-millimeter shell which burst in the nose of the bomber knocked him into the catwalk under the cockpit. With indomitable fighting spirit, he crawled back to his post and kept on firing until he collapsed on his guns. 2d Lt. Sarnoski by resolute defense of his aircraft at the price of his life, made possible the completion of a vitally important mission.
    1943 - ZEAMER, JAY JR., (Air Mission) Medal of Honor
Rank and organization: Major, U.S. Army Air Corps. Place and date: Over Buka area, Solomon Islands, 16 June 1943. Entered service at: Machias, Maine. Birth: Carlisle, Pa. G.O. No.: 1, 4 January 1944. Citation: On 16 June 1943, Maj. Zeamer (then Capt.) volunteered as pilot of a bomber on an important photographic mapping mission covering the formidably defended area in the vicinity of Buka, Solomon Islands. While photographing the Buka airdrome. his crew observed about 20 enemy fighters on the field, many of them taking off. Despite the certainty of a dangerous attack by this strong force, Maj. Zeamer proceeded with his mapping run, even after the enemy attack began. In the ensuing engagement, Maj. Zeamer sustained gunshot wounds in both arms and legs, 1 leg being broken. Despite his injuries, he maneuvered the damaged plane so skillfully that his gunners were able to fight off the enemy during a running fight which lasted 40 minutes. The crew destroyed at least 5 hostile planes, of which Maj. Zeamer himself shot down 1. Although weak from loss of blood, he refused medical aid until the enemy had broken combat. He then turned over the controls, but continued to exercise command despite lapses into unconsciousness, and directed the flight to a base 580 miles away. In this voluntary action, Maj. Zeamer, with superb skill, resolution, and courage, accomplished a mission of great value.
    1944 - McCARD, ROBERT HOWARD, Medal of Honor
Rank and organization: Gunnery Sergeant, U.S. Marine Corps. Born: 25 November 1918, Syracuse, N.Y. Accredited to: New York. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as platoon sergeant of Company A, 4th Tank Battalion, 4th Marine Division, during the battle for enemy Japanese-held Saipan, Marianas Islands, on 16 June 1944. Cut off from the other units of his platoon when his tank was put out of action by a battery of enemy 77mm. guns, G/Sgt. McCard carried on resolutely, bringing all the tank's weapons to bear on the enemy, until the severity of hostile fire caused him to order his crew out of the escape hatch while he courageously exposed himself to enemy guns by hurling hand grenades, in order to cover the evacuation of his men. Seriously wounded during this action and with his supply of grenades exhausted, G/Sgt. McCard then dismantled one of the tank's machineguns and faced the Japanese for the second time to deliver vigorous fire into their positions, destroying 16 of the enemy but sacrificing himself to insure the safety of his crew. His valiant fighting spirit and supreme loyalty in the face of almost certain death reflect the highest credit upon G/Sgt. McCard and the U.S. Naval Service. He gallantly gave his life for his country.
    1944 - At age 14, George J. Stinney, Jr. (1929-44) became the youngest person executed in the United States in the 20th century.  Stinney, an African-American from South Carolina, was convicted in a two-hour trial of the first-degree murder of two white girls: 11-year-old Betty June Binnicker, and 8-year-old Mary Emma Thames. However, no physical evidence existed in the case, and the sole evidence against Stinney was the circumstantial fact that the girls had spoken with Stinney and his sister shortly before their murder, and the testimony of three police officers that Stinney had confessed. He was executed by electric chair.  Since Stinney's conviction and execution, the question of his guilt, the validity of his confession, and the judicial process leading to his execution have been criticized as "suspicious at best and a miscarriage of justice at worst. “  On December 17, 2014, his conviction was posthumously vacated 70 years after his execution.
    1946 - Trumpet player Tom Harrell’s birthday, born Urbana, IL.
http://home.earthlink.net/~tomharrell/harrbio.html
http://www.epinions.com/Music-Tom_Harrell_albums?sp=imed
    1947 – The first network newscast aired on DuMont, “News from Washington”.
    1951 - Top Hits
“Too Young” - Nat King Cole
“On Top of Old Smokey” - The Weavers (vocal: Terry Gilkyson)
“Syncopated Clock” - The Leroy Anderson Orchestra
“I Want to Be with You Always” - Lefty Frizzell
    1952 - Canadian pop singer and composer Gino Vanelli was born in Montreal. He had his first international hit in 1974 with "People Gotta Move." Vanelli's recording of "I Just Wanna Stop" was a million-seller, and garnered the singer a Grammy Award nomination and a Juno Award as male vocalist of the year in 1978. Vanelli traded heavily on his sex symbol image - good looks, shoulder length curly hair and tight jeans - during the 1970's. But that image was toned down with the release of his 1985 comeback album, "Black Cars."
    1952 - Gale Storm (Margie Albright) and Charles Farrell (Vernon Albright) starred in "My Little Margie" which debuted on CBS-TV. Fans of the popular comedy will remember that "My Little Margie" was based at the Carlton Arms Hotel, Apartment 10-A. Vern Albright was a very eligible widower who worked for the investment firm of Honeywell and Todd. Margie Albright, his 21-year-old daughter, was continually scheming to help dad and continually causing big trouble while helping.
    1953 – Duane Pillette of the St. Louis Browns stopped the Yankees’ win streak at 18 and the Browns' team record 14-game losing streak with a 3-1 victory in Yankee Stadium. Johnny Mize became the 93rd player in Major League history to get 2,000 hits when he singled in the only Yankees' run in the 5th inning. These Yankees would go onto win the 1953 World Series, their fifth consecutive championship, a mark unequalled in Major League history.
    1956 - Capitol Records released "Be-Bop-A-Lula" by Gene Vincent (1935-71) and His Blue Caps. Vincent was hailed as Capitol’s answer to Elvis Presley. Of the three songs Vincent Eugene Craddock had hit the airwaves, "Lula" was biggest hit to make the pop music charts. The other songs were "Lotta Lovin’", and "Dance to the Bop."
    1956 - A 31-year-old woman named Gogi Grant knocked Elvis out of Billboard's number one spot with a song called "The Wayward Wind". It was a tune that she recorded almost as an afterthought, with just fifteen minutes of studio time remaining. Six weeks later, Elvis would be back on top with "I Want You, I Need You, I Love You".
    1956 - Patti Page saw what would be her biggest hit, "Allegheny Moon" enter the Billboard chart, where it would reach #2 during a 22 week run. In all, the Oklahoma native would place sixteen songs in the Top 40 between 1954 and 1965.
    1959 - Top Hits
“Personality” - Lloyd Price
“Quiet Village” - Martin Denny
“Tallahassee Lassie” - Freddy Cannon
“The Battle of New Orleans” - Johnny Horton
    1960 – The Hitchcock thriller “Psycho”, starring Janet Leigh and Anthony Perkins, opened in NYC.
    1961 - Gary "U.S." Bonds performs his US Top Ten hit "Quarter To Three" on American Bandstand.
    1961 – Its first host, Dave Garroway, was fired from “Toady” by NBC.
    1965 - Herman's Hermits were awarded their first Gold record for "Mrs. Brown You've Got A Lovely Daughter". The song was originally an album cut that got so much air play in the US, MGM Records released it as a single.
    1966 - HOWARD, JIMMIE E., Medal of Honor
Rank and organization: Gunnery Sergeant (then S/Sgt.) U.S. Marine Corps, Company C, 1st Reconnaissance Battalion, 1st Marine Division. Place and date: Republic of Vietnam, 16 June 1966. Entered service at: Burlington, Iowa. Born: 27 July 1929, Burlington, Iowa. Citation: For conspicuous gallantry and intrepidity at the risk of his own life above and beyond the call of duty. G/Sgt. Howard and his 18-man platoon were occupying an observation post deep within enemy-controlled territory. Shortly after midnight a Viet Cong force of estimated battalion size approached the marines' position and launched a vicious attack with small arms, automatic weapons, and mortar fire. Reacting swiftly and fearlessly in the face of the overwhelming odds, G/Sgt. Howard skillfully organized his small but determined force into a tight perimeter defense and calmly moved from position to position to direct his men's fire. Throughout the night, during assault after assault, his courageous example and firm leadership inspired and motivated his men to withstand the unrelenting fury of the hostile fire in the seemingly hopeless situation. He constantly shouted encouragement to his men and exhibited imagination and resourcefulness in directing their return fire. When fragments of an exploding enemy grenade wounded him severely and prevented him from moving his legs, he distributed his ammunition to the remaining members of his platoon and proceeded to maintain radio communications and direct air strikes on the enemy with uncanny accuracy. At dawn, despite the fact that 5 men were killed and all but 1 wounded, his beleaguered platoon was still in command of its position. When evacuation helicopters approached his position, G/Sgt. Howard warned them away and called for additional air strikes and directed devastating small-arms fire and air strikes against enemy automatic weapons positions in order to make the landing zone as secure as possible. Through his extraordinary courage and resolute fighting spirit, G/Sgt. Howard was largely responsible for preventing the loss of his entire platoon. His valiant leadership and courageous fighting spirit served to inspire the men of his platoon to heroic endeavor in the face of overwhelming odds, and reflect the highest credit upon G/Sgt. Howard, the Marine Corps, and the U.S. Naval Service.
    1967 - The Monterey International Pop Festival opened in California. It was the first major rock festival and attracted 50,000 people over three days. Ticket prices ranged from $3.50 to $6.50 to see more than two dozen top rock acts. The performers played for free. The festival was immortalized in D.A. Pennebaker's 1969 documentary "Monterey Pop." Janis Joplin, The Jefferson Airplane, the Dead, Big Brother and other San Francisco artists performed. Fifty thousand spectators migrated to the site that featured Jimi Hendrix, Janis Joplin, The Mamas and the Papas and The Who. It was one wild weekend and I remember the smoke, the stoned performers and audience,
and everyone was rocking all day and night long. I had press passes from KFRC radio and also went back stage, what I remember most
was the booze, marijuana, and everything else right out in the open.
http://www.nostalgiacentral.com/pop/monterey.htm
    1967 - Top Hits
“Respect” - Aretha Franklin
“Him or Me” - What’s It Gonna Be? - Paul Revere & The Raiders
“Somebody to Love” - Jefferson Airplane
“It’s Such a Pretty World Today” - Wynn Stewart
    1968 - Lee Trevino became the first golfer in 68 years to play all four rounds of the U.S. Open golf tournament with sub-par totals of 69, 68, 69 and 67, respectively, at Oak Hill in NY.
    1969 – The Supreme Court ruled that the House had acted unconstitutionally when it excluded Adam Clayton Powell, Jr., a duly elected member.  He was the first person from New York of African-American descent to be elected to Congress, and the fourth African-American from the North to be elected in the Post-Reconstruction Era.  He became a powerful national politician of the Democratic Party, re-elected numerous times and serving as a national spokesman on civil rights and social issues. He also urged presidents to support emerging nations in Africa and Asia as they gained independence after colonialism.  In 1961, after sixteen years in the House, Powell became chairman of the Education and Labor Committee, the most powerful position held by an African American in Congress. As Chairman, he supported the passage of important social legislation under presidents Kennedy and Johnson. Following allegations of corruption, in 1967 Powell was excluded from his seat by Democratic Representatives-elect of the 90th Congress, but he was re-elected and regained the seat in the ruling in Powell v. McCormack.
    1970 – Golfer Phil Mickelson was born in San Diego.  He has won 42 events on the PGA Tour, including five majors: three Masters titles (2004, 2006, 2010), a PGA Championship (2005), and an Open Championship (2013). 
    1972 - The only museum devoted exclusively to jazz music opened. The New York Jazz Museum welcomed visitors for the first time.
http://jazzmuseuminharlem.org/
    1974 - Homer Simpson & Marge Bouvier wed.  In June, 2015, they agreed to separate.
    1975 - Top Hits
“Sister Golden Hair” - America
“Love Will Keep Us Together” - The Captain & Tennille
“I’m Not Lisa” - Jessi Colter
“When Will I Be Loved” - Linda Ronstadt
    1975 – The Milwaukee Bucks traded Kareem Abdul-Jabber and Walt Wesley to the LA Lakers.
    1977 - Oracle Corporation incorporated in Redwood Shores, California, as Software Development Laboratories (SDL) by Larry Ellison, Bob Miner and Ed Oates.
    1978 - After much success on Broadway, “Grease”, came to the big screen when it premiered in New York City. John Travolta and Olivia Newton-John starred in the hit movie. Several hit songs came out of the motion picture including "Grease," by Frankie Valli, "You're The One That I Want," and "Summer Nights," The first two songs went platinum selling 2,000,000+ copies, while the third sold a million.
    1978 – Tom Seaver pitched the only no-hitter of his career as the Cincinnati Reds defeated the St. Louis Cardinals, 4-0, at Riverfront Stadium.
    1980 - The movie "The Blues Brothers" opened in Chicago, Illinois. Starring John Belushi and Dan Ackroyd, both formerly of NBC’s "Saturday Night Live" the movie was a hit. The pair played Jake and Elwood Blues and were joined by celebrity guests James Brown, Ray Charles, and Aretha Franklin. Cab Calloway also appeared with a rendition of his song "Minnie the Moocher."
    1981 - For $20.5 million, the "Chicago Tribune" purchased the Chicago Cubs baseball team from the P.K. Wrigley Chewing Gum Company. For over 60 years, the Wrigley family had controlled the team. The longest continuous ownership of a team that stayed in its original city, ended with the sale.
    1981 – President Reagan awarded the Congressional Medal of Honor to Ken Taylor, Canada's former ambassador to Iran, for helping six Americans escape from Iran during the hostage crisis of 1979-81, becoming the first foreign citizen bestowed the honor.
    1983 - Top Hits
“Flashdance...What a Feeling” - Irene Cara
“Time (Clock of the Heart)” - Culture Club
“My Love” - Lionel Richie
“Our Love is on the Faultline” - Crystal Gayle
    1985 - No. 1 Billboard Pop Hit: "Heaven," Bryan Adams.
    1985 – Willie Banks broke the world record for the triple jump with a leap of 58 feet, 11-1/2 inches in the U.S.A. championships in Indianapolis, IN.
    1987 - Kareem Abdul-Jabbar signed a two-year contract with the Los Angeles Lakers for $5,000,000. The 18-year veteran of the NBA became the highest paid player in any sport at the time.
    1987 - New York City subway gunman Bernhard Getz was acquitted on all but gun possession charges after shooting 4 black youths who tried to rob him.
    1988 - The largest operatic production in Canadian history was staged at Montreal's Olympic Stadium. About 30,000 people paid between $20 and $150 each to watch Verdi's "Aida" - complete with a 14-metre model of the Sphinx, elephants, tigers and a four-metre python. The stars were soprano Katia Ricciarelli in the title role and tenor Nicola Martinucci as Radames. Giuseppe Raffa conducted a 120 piece orchestra and a 140 member chorus. The production was repeated two nights later in the Olympic Stadium. An even more grandiose staging of "Aida" took place in 1987 at Giza, Egypt, site of the real Sphinx.
    1989 - Sammy Sosa becomes the youngest (20-years, seven months) Dominican to play in the majors. The Ranger rookie goes 2-for-4 with a double against the Yankees.
    1989 - Daytime thunderstorms produced severe weather from northern Florida to the Middle Atlantic Coast. The thunderstorms spawned eight tornadoes, and there were 138 reports of large hail and damaging winds. Thunderstorm winds gusting to 87 mph caused twenty million dollars damage at Columbia, SC. Strong thunderstorm winds killed one person at McLeansville, NC.
    1991 - Top Hits
“Rush, Rush” - Paula Abdul
“Love is a Wonderful Thing” - Michael Bolton
“Losing My Religion” - R.E.M.
“If the Devil Danced (In Empty Pockets)” - Joe Diffie
    1992 - Sister Souljah called future President Bill Clinton a "draft dodging, pot smoking womanizer." Clinton had criticized Sister Souljah on June 13, 1992.
    1992 – The first President Bush welcomed Russian President Boris Yeltsin to a meeting in Washington, DC. The two agreed in principle to reduce strategic weapon arsenals by about two-thirds by the year 2003.
    1993 - The US Postal Service released a set of seven stamps that featured Bill Haley, Buddy Holly, Clyde McPhatter, Otis Redding, Ritchie Valens, Dinah Washington and Elvis Presley.
    1995 - "Batman Forever", the third film in the Batman series, premiered. Batman/Bruce Wayne (Val Kilmer) faces Two-Face (Tommy Lee Jones) and the Riddler (Jim Carrey). Add a sexy psychologist (Nicole Kidman), with a thing for Batman, and sidekick Robin (Chris O’Donnell), and you wind up with a smash: $52.78 million in the U.S. for opening weekend. Smash, Bang, Wow box-office, Batman!
    1996 – Legendary Yankees Hall of Fame broadcaster Mel Allen (1913-96) died. In 1939, Allen started doing play-by-play for both the Yankees and the New York Giants, and later narrated the long-running television show, “This Week in Baseball”. In 1978, Allen received the Hall of Fame’s Ford C. Frick Award for broadcasting excellence.   
    1999 - Cher launched her "Believe" tour in Phoenix, Arizona. The CD had become a worldwide smash, and the single made Cher, at 52, the oldest woman to have a song hit Number 1 on the charts. It was the first time in nearly a decade that the exotic, charismatic diva had gone on a concert tour. To an enthusiastic sell-out crowd, she performed the hits from her "Believe" album, and many of the public's favorite spanning the previous three decades.
    1999 - World-class sprinters all dream the impossible dream, to break the 100-meter world record. Maurice Greene’s dream came true at an invitational track meet in Athens, Greece, the birthplace of track and field events. Running in the stadium (home of the 2004 Olympics) with no wind at his back, his friend and training partner in another lane, 24-year-old Maurice Greene finished the 100 meters in 9.79 seconds. The previous record (9.84 seconds), set at the 1996 Olympics, belongs to Canada’s Donovan Bailey. Greene from Kansas City, Kansas is the first American to hold this sprint record since 1994. His training partner, Ato Boldon, placed second with a time of 9.86.
    1999 - The Circuit Court of Appeals said that a 1992 federal music piracy law does not prohibit a palm-sized device that can download high-quality digital music files from the Internet and play them at home.
    2000 - Heat wave ends in San Jose with records over 109 degrees and over 100 degrees in San Francisco, breaking all weather history records. In June, San Francisco recorded 104, its highest ever in the history of the city.
    2000 - Federal regulators approved the merger of Bell Atlantic and GTE Corp. The merger created the nation's largest local phone company now known as Verizon.
    2001 - At Turner Field in a game which featured thousands of swarming moths, Boston beat the Braves and bugs in extra innings, 9-5. Although the insects had little bearing on the outcome of the game, the insects clearly bothered the some players, including Dave Martinez who claimed to having sucked one into his mouth.
    2008 - California began issuing marriage licenses to same-sex couples.
    2012 - The Air Force’s robotic Boeing X-37B spaceplane returned to Earth after a classified 469-day orbital mission.
   

NBA Champions
    1996 - Chicago Bulls


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