Reversing a Trend Since the Beginning of the Year
ELFF Confidence Index Up 1.6 from 64.62 to 66.2 June

While many brokers and funders have noticed to Leasing News a falling off in business, The Equipment Leasing and Finance Foundation June 2018 Monthly Confidence Index for the Equipment Finance industry notes  "Overall, confidence in the equipment finance market is 66.2 in June, up from the May index of 64.6."

The ELFA Report quotes:

Thomas Jaschik, President, BB&T Equipment Finance
“Year to date, the industry has experienced solid growth. However, I don’t believe the industry has yet to realize the full benefit of the 2017 tax legislation. Many companies are still adjusting to the new tax structure and the increased cash on their balance sheet. In some cases this cash surplus has reduced the propensity to finance. I expect the full effect of the tax package will benefit the industry in the second half of 2018 and 2019.”

Valerie Hayes Jester, President, Brandywine Capital Associates
“We are still experiencing strong demand. Current and almost certain future interest rate hikes seem to be driving the marketplace. We keep hearing from our customers that they need to get projects moving before financing costs rise. We see strong expansion of many small businesses with many current customers coming back for additional approvals. All signs are ‘go’ at the midpoint of this year!”

David Normandin, CLFP, Managing Director, Commercial Finance Group, Hanmi Bank
“Continuing strong relationship building throughout the world will continue to increase confidence in the market and drive optimism.”

David T. Schaefer, CEO, Mintaka Financial, LLC
“With business confidence and employment growth high we are expecting demand for equipment to grow. Portfolio performance is stable as are approval rates on new applications.”

The ELFF Confidence reports, “In June, 42.4% of respondents indicate they believe their company will increase spending on business development activities during the next six months, an increase from 37% in May. 57.6% believe there will be “no change” in business development spending, a decrease from 63% the previous month. None believe there will be a decrease in spending, unchanged from last month."

 

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New Hires/Promotions in the Leasing Business
and Related Industries

Bob Fite was promoted to Operations Supervisor, PNC Equipment Finance, LLC., Cincinnati, Ohio.  He joined the firm May, 2015 as Senior Client Service Representative; promoted July, 2016, Commercial Transaction Coordinator. Previously, he was Bartender, Beef 'O' Brady's (May, 2012 - April, 2015); Client Relations, Citi (September, 2013 - April, 2015); Minister, Central Oahu Christian Church (May, 2010 - August, 2010).  Education: Kentucky Christian University.  Master of Ants (M.A.). Christian Leadership (2015 - 2017). Kentucky Christian University. Bachelor's degree. Theology and Religious Vocations. (2016).
https://www.linkedin.com/in/bob-fite-87b503123/

Jessica Garcia was hired as Relationship Manager, Regions Capital.  She is based in Miami Beach, Florida. Previously, she was ISO Relationship Manager, Greenbox Capital (November, 2017 - May, 2018); Branch Operations Manager, World Business Lenders, LLC (July, 2016 - February, 2017); Vice President, Operations, Leverage Point, LLC (August, 2013 - April, 2016); Operations Manager, Cityscape Financial( May, 2011 - July, 2013).  Education: Miami Dade College.  Associate's degree.  Business Administration, Management and Operations. (2017 - 2018).  The Legacy School for Integrated Studies.  High School Diploma. High School/Secondary Diplomas and Certificates. (2007 - 2010).  Activities and Societies:  Student Council, Soccer Team, Karate Club. https://www.linkedin.com/in/jessica-garcia-6b751756/

Randy Kaploe was hired as Senior Vice President to lead the CIT Group sales effort along the U.S. Gulf Coast in Mexico, and in Western Canada. He previously was Director of Sales, Trinity Rail (February, 2016 - April, 2018). He began his career at GE Capital Rail Services, starting August, 1998, as Fleet Maintenance Manager; promoted Portfolio Manager (Grain/Cement) January, 2002; promoted April, 2004, Senior Account Manager.  He became a Six Sigma Black Belt April, 2000 - January, 2002).Prior, he was a Commissioned Officer (2LT-CPT), US Army (May, 1993 - May, 1999), Germany/Bosnia.  Education: Loyola University of Chicago, MBA, Business Administration and Management, General (2000 - 2002); Florida State University, BS, Marketing/Marketing Management, General (1989 - 1993). https://www.linkedin.com/in/randy-kaploe-9419a5/

Jesse King was hired as an Executive Recruiter, Parker and Lynch, Las Vegas, Nevada.  Previously, National Account Manager, Onset Financial (March, 2018 - June, 2018); National Manager, Wyndham Vacation Ownership (2014 - May, 2015); Owner/Op, Self Employed Internet Marketing (April, 2005 - June, 2018). Education: Vincennes University. Bachelor of Science. Bs. Information Technology, US Navy (IT) A-School/(NCPACE). (1998 - 2002).  U.S. Navy IT A School.  Information Technology.
https://www.linkedin.com/in/jesse-king-870a444b/

Torre Montez was promoted to Sales Manager, Partners Capital Group, Irvine, California.  He joined the company March, 2017, and previous position was Vice President of Sales. Prior, he was National Sales Manager, Ascentium Capital (February, 2015 - November, 2016); National Account Executive, Alliance Funding Group (March, 2004 - February, 2015).  Education: Western Wyoming Community College. CNA, Electrician Apprenticeship, Technologies, Nursing (2007 - 2008). Activities and Societies: Child Care, Certified Nursing Assistant Program. Electrician Apprenticeship.  Dixie High School, High School, General Studies (2003 - 2006). https://www.linkedin.com/in/torre-montez-76846845/

Tony Rivero was hired as Business Specialist, The Leasing Experts, Inc., Miami, Florida. Previously, he was a Real Estate Agent, Lifestyle International Realty (December, 2016 - April, 2018); Business Development Associates, CAREERXCHANGE, Inc. (August, 2017 - December, 2017); Franchise Sales Consultant, Franchise creator (March, 2016 - February, 2017); Funding Specialist, CityScape Financial (January, 2014 - October, 2014); Account Executive, eTitle Loan, Online Title Loans (January, 2013 - January, 2014); Client Specialist, Brickell Motors (May, 2012 - January, 2013).  Languages: English. Spanish.
https://www.linkedin.com/in/tony-rivero-73300795/

Tracy Sparks was hired as Commercial Loan Service Specialist 2, The Huntington National Bank.  Previously, she was EF Servicing Specialist III, PNC Equipment Finance, LLC (September, 2001 - April, 2018); Office Manager, Tim Moorman, Nationwide Insurance Agency (September, 1999 - September, 2001); Asset Lending Support II, Provident Bank (September, 1998 - September, 1999).  Volunteer: Grown Up Great, PNC Equipment Finance (September, 2012).  Education:  Lloyd Memorial High School (1978 - 1982). https://www.linkedin.com/in/tracy-sparks-23a4a142/ 

Jessica Melton was promoted to Manager, LeasePlan, USA, Greater Atlanta Area. She joined the firm October, 2000, as Factory/Stock Ordering and Distribution; promoted to Remarketing, November, 2004; promoted, May, 2005, Renewal Management; promoted, July, 2007, Account Coordinator; promoted, October, 2000, Lease Plan USA; promoted, Client Consultant, May, 2014.  Education: North Metro Tech.  Business Science Technology AS, Business Technology (2010 - 2001). https://www.linkedin.com/in/jessica-melton-62269512/

Taylor Tobias was hired as Senior Account Executive, 3G Funding, Greater New York City Area.  Previously, he was President and Co-Founder, Phoenix Capital Consultant Group, LLC (January, 2017 - June, 2018); Senior Small Business Development Manager, Imperial Advance (December, 2015 - February, 2017); Personal Banker, Citi (August, 2015 - November, 2015);  Senior Financial Service Associate (Sr. Personal Banker), People's United Bank (July, 2011 - July, 2015); Public Relations, Conair Corporation (January, 2007 -July, 2011); Sales Associates, Forever 21 (January, 2006 - January, 2007). Education: University of Connecticut. https://www.linkedin.com/in/taylor-tobias-2b71728a/

 

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Now’s the Time to Apply

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Don’t Look for Malls to Come Back
Internet Buying and One-to-Two Day Delivery is Here to Stay

The change in charging sales tax on the internet will not be as dramatic as expected. Delaware, Montana, Oregon, New Hampshire have no sales tax and Alaska's is quite minimal. Additionally, most on line sellers to major states already are required to pay sales tax for online sales.

The ruling by the Supreme Court (see "News Briefs" for more details on “long overdue”) will not take effect immediately.  States will have to pass legislation for the procedure and gear up for enforcement.  The sellers will also have to set up for this, which will not take very long, but the turnover by states will.

As for changing buyers’ habits, the trend is away from shopping and eating at a mall,  as delivery service for almost everything has been on the rise. Small stores have weathered the storm due to the lower cost of real estate and being able to fit their community prefaces, rather than a nationwide selection.

A recent survey of consumers finds "40% prefer shopping online for a broader range of product selection. Another 38% want to avoid crowds and parking, and 24% don't want to travel at all." Smaller companies also have an advantage here with eBay and Amazon, in particular. Many work out of their homes or low cost locations rather the expense of a mall location.

One of the reasons for Sears’s demise is the poor internet sales and promotion, and ordering by catalogue was popular in the 20th century, but the internet has changed that. Thus Target, Walmart, and others have become more active in internet and free delivery options, including one to two-day service.

There still are times buyers want to try on clothes or see the tools or equipment at a hardware or plants at nursery stores. But buying roses, tools, and even clothes online has become quite popular due to the ease and lower price due to the overhead of the seller.

 

 

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Letters! - We Get Email
(Chronologically Received)

 

June 20, 2000 –Major Changes Last Six Months
http://leasingnews.org/archives/Jun2018/06_20.htm#june

From Steve Geller:

"You know there were/are several companies with Leasing Solutions in their names. One is in GA and mine is, of course, in New York. Those without a long history in the business may not realize that the bankrupt Leasing Solutions was Leasing Solutions, Inc. out of California, many years ago out of business."

(I don't think readers will confuse a 2000 story with your company or another in 2018.

(In 2000, Leasing Solutions, San Jose, California, whose main client was leasing Apple Computer filed bankruptcy in October, 1988, and went out of business in 2000 as Apple cut them off when they weren't placing enough leases for them. Leasing News reported their stock loses more than 50% of value in a single day with announcement that auditors were forcing LS to write down the residual values of a small portion of equipment returned for remarketing. After a long stream of announcements of ongoing negotiations, forbearance periods, the establishment of an internet strategy. The lenders let them use cash for that rather than apply it against borrowings!

(If you think important, will ask our webmaster to add San Jose, Ca. after Leasing Solutions.)

"Don't Bother."

Steve

(Will remember next time this occurs. Editor.)

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Not all originators are equal
Sales Makes it Happen by Scott Wheeler, CLFP
http://leasingnews.org/archives/Jun2018/06_20.htm#not

From Ralph Mango:

“Alongside Wheeler's analysis, which I fully support, there is a ‘normal distribution’ of talent that not only occurred in my experience, but is generally supported in research:  

Top 10% will succeed no matter what...you could blindfold them, leave them in the desert without a map, and they would not only survive but they'd find new business on the way back to civilization; 

The bottom 10-20% will fail no matter what you do to help them...they lack either the personality, emotional makeup, intellect and/or drive to succeed...most of them are order takers rather than sales professionals.  

The successful leader will earn his/her keep measured by what happens with the remainder.  That involves helping some of the middle group successfully graduate to the top 10% evidenced by results improvement, conflict resolution, rebounding from rejection, better preparation and intensifying the focus that separates the top 10% from the middle group...including the attributes Steve articulates so well.  I think what is missing is the role of a solid sales leader in the success of the sales professional he describes.  

If he or she is really adept, they may motivate a few of the bottom 10-20% into the middle group.”

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

California Supreme Court to Hear Oral Arguments
  Interest Rate May be Unconscionably High
By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Jun2018/06_11.htm#supreme

From Joseph G. Bonanno, Esq., CLFP:

"Along with Tom McCurnin, I too have been following the De la Torre/Cash Call matter with interest (no pun intended). My understanding is that CashCall makes consumer loans. Their so-called “signature product” is an unsecured $2,600 loan with a 42 month term, simple interest, at 96% interest. In July 2009, CashCall increased the interest rate on this signature product to 135%, with the rates being fully disclosed to borrowers. The complaint alleges one federal claim and five state law claims: (1) violation of the Electronic Fund Transfer Act, 15 U.S.C. § 1693, (2) violation of the Consumer Legal Remedies Act, Cal. Civ. Code § 1750, (3) violation of the Rosenthal Fair Debt Collection Practices Act, Cal. Civ. Code § 1788, (4) unlawful business practices in violation of the UCL, (5) a derivative unlawful business practices claim based on the above violations, and (6) fraudulent and unfair business practices.

"After lower court litigation, the matter is in the United States Court of Appeals for the Ninth Circuit, notably only one level below the United States Supreme Court. The U.S. Appeals Court has requested that the California Supreme Court advise the U.S. Appeals Court on a conflict that the California legislature has created for itself. Apparently, the California Finance Lenders Law, Section 22303 provides for no interest rate on these types of loans in excess of $2,500 (but does provide for limitations on interest for loans below $2,500 … go figure).  The Finance Lenders Law also incorporates the general Civil Code provision about contract unconscionability, FFL Section 22302 which gives the Court the ability to strike an unconscionable clause in a contract. Further, the Court noted that the California Unfair Competition Law creates a private cause of action for “any unlawful, unfair or fraudulent business act or practice” pursuant to California Business & Professional Code, Section 17200.  The United States District Court found in favor of CashCall and Plaintiff’s appealed.

"The legal theory behind the Plaintiff’s claim is that interest rates of 90% or above are unconscionable and that Section 22302 of the FLL makes unconscionable loans unlawful, which created a cause of action under the UCL. The plaintiffs rely heavily on Carboni v. Arrospide, 2 Cal. Rptr. 2d 845, 846–47 (Ct. App. 1991), which involved a $99,346 secured loan with a 200% interest rate. After default, the lender sought to foreclose, but the trial court found the “interest rate provisions” unconscionable, and reduced it to 24%.  The Court of Appeal affirmed, noting that “the parties have not cited, and we have not discovered, any case which applies the doctrine of unconscionability to . . . a shockingly high rate of interest.”  But, the Court found the defense applied because “the interest rate is the ‘price’ of the money lent; at some point the price becomes so extreme that it is unconscionable.” CashCall argues that § 22303 was designed to provide a “safe harbor” against claims that interest rates on unsecured consumer loans above $2500 were too high, and that the interest rates on the loans to plaintiffs were therefore legal. See Cel-Tech, 973 P.2d at 541 (“When specific legislation provides a ‘safe harbor,’ plaintiffs may not use the general unfair competition law to assault that harbor.”). CashCall also cites a Department of Business Oversight statement that “a CFLL licensed lender can charge whatever interest rate it chooses on loans . . . of $2,500 or more.”

"I respectfully disagree with Tom in that I do believe that courts must resolve these conflicts that the California legislators, in their infinite wisdom, have created for themselves. Without judicial intervention, parties are unsure as to which law controls and in this case, could the natural progression end up with interest rates in excess of 500 – 1000%?  At what point does the legislature create legalized loan sharks?  In my opinion, the California legislature, which views itself as the protector of consumers, has really gone dysfunctional on this issue and only the courts can resolve the discrepancies. What should the Court do?  It’s my firm opinion, prevent legalized loan sharking."

(Leasing News caught Mr. McCurnin changing planes during his flight to climb the Himalayans in Asia. He responded, "Many states including New York have regulated caps on interest rates. I think the matter is best resolved in the legislature not the courts."
Tom)

-----------

Setting the Standard of Professionalism
CLFP
http://leasingnews.org/archives/May2018/05_02.htm#letters

Response to a letter from a reader criticizing the need to join the Certified Leasing and Finance Professionals, from Barry Marks, Esq.,CLFP.

"Well, there are those who strive for excellence and want to learn and to understand their business and there are those who are only interested in their paycheck and only today. The former understand that what they don’t know can hurt them and the latter don’t find out until it is too late. The first group is called professionals. The others, like the author of your letter, never know what opportunities they’ve missed and think they are fine because they are making money and haven’t had a disaster caused by lack of knowledge of our complex business. As many have heard me say, they are dangers to themselves and others and are like the guy who jumps from a 50-story building: for 49 stories, he’s flying.

You don’t have to be a CLFP, but it is well worth the cost in money and time what is more important is to recognize the attitude that letter exhibits for what it really means. This is why those of us who care worry that the foolish and  greedy among us are going to cause us to become a regulated industry in many states, if not nationally.

(Feel free to use my name!)

BARRY MARKS barry@leaselawyer.com 205.251.8303  Sent from my iPhone

(Barry is on vacation in Italy until July 3rd. Editor)

 

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

Change in CSI Leasing Board of Directors
Bill Gillula, CEO. Retiring

St. Louis, Missouri - After 34 years of service to CSI, Bill Gillula has retired from his role as chairman of the board of directors of St. Louis-based CSI Leasing, Inc.  Gillula started his career with Mark Twain Bank in St. Louis, rose to the position of chief financial officer of the bank, and was president of Mark Twain Leasing Company.  He joined CSI as CFO in 1984 and subsequently held the roles of chief operating officer, president, CEO, and then became chairman in 2016. 

Current CEO, Steve Hamilton, said, “Bill’s relationship with CSI goes back to its very early days when, as a banker in the 1970s, he made the first loan to the company.  When he joined CSI as CFO, he instituted policies and procedures that helped the company profitably grow from about 30 employees in 1984 to over 1,000 today, and to become one of the world’s largest high-tech leasing specialists, with operations in over 25 countries.  Without his valuable guidance and judgment, we wouldn’t be in the strong position we are today.”

In 2015, Gillula helped engineer the deal that took CSI from a privately-held company, owned mostly by its employees, to a wholly-owned subsidiary of Tokyo Century Corporation, a publicly-traded Japanese company.  Gillula said, “I’m proud that we were able to develop CSI into an industry leader with international scope, and that our shareholders, employees, and customers have benefitted from the merger with a great company like Tokyo Century.  I’m pleased that as I retire from the board, CSI is enjoying its best year ever with a bright future ahead.”

Tokyo Century announced that Hamilton will assume the role of chairman of the board, director Toshio Kitamura will serve as vice chairman of the board, and Fred O’Neal, CSI’s chief operating officer, will become a board member.  In a new part-time role as senior consultant to the CEO, Gillula’s expertise will remain available.    

CSI Leasing, Inc. is one of the largest independent equipment leasing and equipment lifecycle services companies in the world. Established in 1972, CSI has operations throughout North, Central and South America, Europe and Asia. More information is available at www.csileasing.com

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

 

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

LeaseAccelerator Launches New Experiential Learning Platform
"will accelerate adoption of Enterprise Lease Accounting software"

 

CHICAGO, June 20, 2018 / -- LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, announced a new online training curriculum that will accelerate adoption of and compliance with the new ASC 842 and IFRS 16 standards. The new experiential learning platform will help users in Leasing Centers of Excellence quickly climb the learning curve required to master the systems that enable the new lease accounting standards.

Some of the biggest obstacles to achieving long-term compliance with the new lease accounting standards revolve around learning, knowledge sharing and diffusion. Historically, there has been little reason for lessees to maintain skills in lease management and accounting. But to comply with the new standards, Fortune 1000 companies will now need to build centers of excellence staffed with teams of leasing experts. With a small talent pool to draw upon in the market, companies will need to build the expertise in-house through a combination of training and development programs.

Michael Keeler, CEO, LeaseAccelerator, said, "Enabling the user community to rapidly gain proficiency in the technical expertise and systems needed for ASC 842 and IFRS 16 compliance will be a make-or-break issue for compliance on day two and beyond.  

"That is why we are investing several million dollars in an advanced learning management system and an experienced team of instructional design professionals to build out our curriculum. Our objective is not just to help our customers but to advance our learning programs to be state-of-the-art for our industry."

LeaseAccelerator's training platform leverages the latest experiential learning strategies and interactive media technologies. Animated personas guide the users step-by-step through the training modules. Short-form video tutorials both show and tell how to perform common tasks in the application. Following each demonstration, participants get hands-on experience with each LeaseAccelerator application – Sourcing, Management, and Accounting – through live simulations on the training platform. To reinforce key concepts, users are tested with multiple choice quizzes at regular intervals.

The online training curriculum provides beginner, intermediate and expert level instruction in:

• Lease Accounting – Booking, classification, modification, reassessment and end-of-term recordation of leases, as well as monthly close activities such as cutoff, reconciliation and general ledger export.
• Lease Management – Tracking of leases throughout the lifecycle, including updating rent, location and cost center, as well as mid-term and end-of-term buyouts, renewals and terminations.

The new learning platform will complement LeaseAccelerator's other training services which include multi-day classroom-style programs and live, interactive web sessions. Power-users that complete the full curriculum will be able to earn CPE credits and LeaseAccelerator issued certifications in lease accounting and lease management. The several hundred trained professionals already working on implementations today across our 11 partners will be able to recertify annually, which helps our mutual customers to accelerate and derisk their implementations.

Mark Koppersmith, Vice President of Customer Experience, LeaseAccelerator, said, "In the next six months, tens of thousands of accountants around the world need to become experts in the new standards and the systems enabling them.

 "Traditional training approaches are not going to scale fast enough. Achieving mass adoption in the short time frame will require an experiential learning platform that enables users to quickly climb the learning curve. That is why we built it and initial feedback from customers and partners has been extremely positive – several have called it 'a game changer'."

About LeaseAccelerator
LeaseAccelerator offers the market-leading SaaS solution for Enterprise Lease Accounting, enabling compliance with the current and new FASB and IFRS standards. Using LeaseAccelerator's proprietary Global Lease Accounting Engine, customers can apply the new standards to all categories of leases including real estate, fleet, IT and other equipment at an asset level. On average, LeaseAccelerator's Lease Sourcing and Management applications generate savings of 17 percent on equipment leasing costs with smarter procurement and end-of-term management. Learn more at http://www.leaseaccelerator.com/.

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

 

 

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Fernando's View
By Fernando F. Croce

Intense horror (“Hereditary”) and dizzying animation (“The Incredibles 2”) make for a double-bill of darkness and light at the box-office, while DVD releases offer robust action (“Den of Thieves”), engrossing drama (“Graduation Day”), and bittersweet humor (“The Other Side of Hope”).

In theaters:

Hereditary (A24): Directorial debuts don’t come much more blood-curdling than Ari Aster’s disturbing horror drama, which features an all-stops-out performance by Toni Collette. She stars as Annie Graham, an artist whose life begins to unravel following the death of her harsh mother, putting a strain on her relationship with her husband (Gabriel Byrne) and children (Alex Wolff, Milly Shapiro). The terrors keep coming, however, as disturbing details from the family history start to emerge and Annie gradually becomes aware of a ghastly cycle that she may be unable to escape from. Can she and her family evade doom before it’s too late? Building slowly but surely with subtle and raw details, Aster’s film weaves a web of shock that, like the recent “The Babadook,” gives the horror genre a shot in the arm.

The Incredibles 2 (Walt Disney Studios): One of the most modern dynamic animators, Brad Bird delivers another generous dose of exhilaration with this much-anticipated sequel to his 2004 hit “The Incredibles.” Picking up right where the predecessor left off, the story catches up with the eponymous family of superheroes and their various combinations of quotidian duties and world-saving missions. Mrs. Incredible (voiced by Holly Hunter), Mr. Incredible (Craig T. Nelson) and their children find themselves undergoing a change of image in the wake of a messy mission, which brings them face to face with a new and unexpected villain. Mingling parenthood with top-secret heroism, Bird’s rousing movie delights with spirited vocal performances (others in the cast include Samuel L. Jackson and Catherine Keener) and action sequences that put Marvel blockbusters to shame.

Nextflix Tip: Cinema’s most indelible drill sergeant, R. Lee Ermey (1944-2018) gave Stanley Kubrick’s “Full Metal Jacket” (1987) its most memorable character. But this intense character actor was also in a wide variety of films, so check out Netflix for “Mississippi Burning” (1988), “Seven” (1995) and “Toy Story” (1995).

On DVD:

Den of Thieves (Concorde Filmverleih): A robust genre film is always welcome, and such is the case with director Christian Gudegast’s hard-boiled thriller. Displaying the kind of grit that originally made him a star, Gerard Butler stars as Nick O’Brien, a tough, rule-bending Los Angeles sheriff who runs an elite unit known as The Regulators. His opposite number is Ray Merrimen (Pablo Schreiber), the leader of a gang of highly skilled criminals who call themselves The Outlaws. As a hit is planned on the city’s most valuable bank, the two rival forces find themselves headed toward a showdown. Though not on the same level as its clear inspiration, Michael Mann’s crime classic “Heat,” the film offers its share of macho pleasures, including tough and taut action sequences.

Graduation (Criterion): Continuing the psychological inquiry and challenging style of the recent Romanian films, director Cristian Mungiu (“4 Months, 2 Weeks and 3 Days”) serves up another compelling tangle of tough decisions with his latest work. The character at the center of this morality play is Romeo (Adrian Titieni), a respected doctor who’s determined that his daughter (Maria Dragus) score high on school exams so she can leave for England. An attack on the eve of the tests jeopardizes her future, however, so Romeo finds himself open to questionable decisions in order to ensure good grades. Creating an involving drama that also doubles as a penetrating inquiry into cross-generational dilemmas, Mungiu’s thorny film (a prize winner at last year’s Cannes Film Festival) is a consistently intense experience. With subtitles.

The Other Side of Hope (Criterion): Beloved to arthouse audiences for his bone-dry humor and deadpan but fierce emotions, Finnish director Aki Kaurismaki (“The Man Without a Past”) delivers another lovely combination of laughter and melancholia with this comedy-drama. Set in Helsinki, the story follows shirt-salesman Waldemar (Sakari Kuosmanen) who, after a domestic squabble, makes a fortune after impulsively entering a poker game. Determined to become a restauranteur, his life is changed when he meets Khaled (Sherwan Haji), an immigrant seeking refuge. As they become friends, Waldemar sets out to help Khaled find his missing sister, a search that could place both men in danger. Applying his trademark sense of absurdism to find human warmth in an uncaring world, Kaurismaki makes a poignant and often very funny plea for compassion. With subtitles.

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Agenda:
http://community.aacfb.org/events/commercial-financing-expo/agenda

Sponsors:
http://community.aacfb.org/events/commercial-financing-expo/sponsors

Pricing:
http://community.aacfb.org/events/commercial-financing-expo/pricing

News Briefs----

Lack of Truck Drivers Leading to Bottlenecks in Supply Chain
 Management and Opportunities for Lenders
https://www.garnetcapital.com/news/article/Lack-of-Truck-Drivers-Leading-to-Bottlenecks-in-Su/40062677

Supreme Court Clears Way Sales Taxes on Internet Merchants
   the justices said the current laws are outdated
https://www.nytimes.com/2018/06/21/us/politics/supreme-court-sales-taxes-internet-merchants.html

Housing affordability falls to 10-year low
Index has sunk to lowest point since Q3 2008
https://www.housingwire.com/articles/43744-attom-housing-affordability-falls-to-10-year-low

China Share in Textile Industry Relocates to
   Bangladesh and Vietnam
http://www.fashionatingworld.com/new1-2/china-s-share-in-eu-textile-imports-on-the-decline-euratex-report

Mortgage Servicing Industry Braces for Next Disaster
Natural disasters caused more than $300 billion of damages in 2017
https://dsnews.com/daily-dose/06-19-2018/housing-industry-braces-disaster

 

 

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You May Have Missed---

America’s Fastest-Growing Chain Restaurant Is a Pizza Place
  You've Probably Never Heard Of  -- MOD Pizza
https://www.foodandwine.com/news/biggest-chain-restaurant-2018

[headlines]
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           This is an acrostic poem, in which the first letter of each line spells out a clue into the poem's meaning.)

Preoccupied
    by Nancy Weaver
Victor suffers
In his room, with
Old World strains
Long studied ...
In his hands,
Never mastered.

Boys!
Are better busied
Slinging bats and stealing bases;
Even measuring odds,
Batting averages
Angles and trajectory and ...
Losers, unknown to composers of
Lovely concertos.

[headlines]
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Sports Briefs---

Ranking the AFC West Schedules
https://www.cbssports.com/nfl/news/2018-nfl-schedule-rankings-afc-west-chiefs-facing-nightmare-raiders-get-it-easy/

CFL coach on Johnny Manziel:
  'He should be playing in the National Football League'
https://www.usatoday.com/story/sports/nfl/2018/06/21/johnny-manziel-june-jones-nfl/721588002/

Jameis Winston to be suspended for first three games
http://www.theredzone.org/Blog-Description/EntryId/70710/Sources--Jameis-Winston-to-be-suspended-for-first-three-games

[headlines]
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California Nuts Briefs---

Biggest disaster ever? PG&E wildfire costs at $2.5 billion and climbing
http://www.sacbee.com/news/state/california/fires/article213580349.html

San Francisco subway, rail among world's costliest
https://www.constructiondive.com/news/san-francisco-subway-rail-among-worlds-costliest/526037/

Cupertino puts controversial business ‘head tax’ plan on hold for now
https://www.mercurynews.com/2018/06/20/cupertino-puts-controversial-business-head-tax-plan-on-hold-for-now/

Signs of new life in California vineyards
https://www.sfchronicle.com/wine/article/Signs-of-new-life-in-California-vineyards-13008643.php

 

[headlines]
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“Gimme that Wine”

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

Should wineries acquire vineyards
   instead of buying fruit on the open market?
https://www.winebusiness.com/news/?go=getArticle&dataid=200260

Saratoga’s Cinnabar Winery celebrates
    35th anniversary with wine bash
https://www.mercurynews.com/2018/06/20/saratogas-cinnabar-winery-celebrates-35th-anniversary-with-wine-bash/

The Insider’s Guide to Chile’s Wine Renaissance
https://punchdrink.com/articles/new-chile-wines-insiders-guide-chilean-wine-renaissance-essential/

Dan Berger Wine Competition Results
https://www.dbiwc.com/results/wine/_2018_Resultslist.php

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

This Day in History

     1610 - In their search for a marketable product, some settlers in the Colonies had begun growing tobacco.  Europeans had acquired a taste for tobacco in the late sixteenth century when the Spanish brought samples from the West Indies and Florida. Initially expensive, it became popular among wealthy consumers. The high price appealed to Virginians, but they found that native Virginia leaf was of poor quality. John Rolfe began experimenting with seeds from Trinidad, which did much better. The first cargo of Virginia-grown tobacco arrived in England in 1617 and sold at a highly profitable 3 shillings per pound. Following Rolfe's success, settlers immediately planted tobacco everywhere- -even in the streets of Jamestown. Company officials, unwilling to base the colony's economy on a single crop, especially one that many people (including King James) considered to be an unhealthy indulgence, tried to restrict annual production to 100 pounds per colonist. Colonists, busy "rooting in the ground about Tobacco like Swine" as one observer reported, ignored these restrictions. But it was only after company rule ended that tobacco planting really surged. Between 1627 and 1669, tobacco exports climbed from 250,000 pounds to more than 15 million pounds. As the supply grew, the price plunged from 13 pence in 1624 to a mere penny in the late 1660s, where it remained for the next half century. What had once been a luxury product thus became affordable for Europeans of average means. Now thoroughly dependent on tobacco for their livelihood, the only way colonists could compensate for falling prices was to grow even more, pushing exports to England to more than 20 million pounds by the late 1670s.
    1611 - After spending a winter trapped by ice in present-day Hudson Bay, the starving crew of the Discovery mutinies against its captain, English navigator Henry Hudson, and sets him, his teenage son, and seven supporters adrift in a small, open boat. Hudson and the eight others were never seen again. Two years earlier, in 1609, Hudson sailed to the Americas to find a northwest passage to Asia after repeatedly failing in his efforts to find a northeast ocean passage. The Discovery later returned to England, and its crew was arrested for the mutiny. Although Henry Hudson was never seen again, his discoveries gave England its claim to the rich Hudson Bay region.
    1633 - Galileo Galilei was forced by the Pope to recant his research that the Earth orbits the Sun.  On Oct 31, 1992, the Vatican admitted it was wrong.
    1774 - The Quebec Act was passed by Parliament. It established a permanent government in Quebec and extended its boundaries south to the Ohio River, to include land contested by several American colonies. For this, it was considered by the colonists to be one of the Intolerable Acts that lead to the Revolutionary War.
http://www.wpi.edu/Academics/Depts/MilSci/BTSI/abs_coer.html
    1775 - Continental currency was issued for the first time, totaling $3,000,000.
    1807 - The crew of the British man-of-war, "Leopold," fired upon and boarded the United States frigate "Chesapeake." The commander of the "Chesapeake," James Barron, was court martialed and convicted for not being prepared for action. Along with some others, this incident led to the War of 1812. Eight years after the war, Stephen Decatur, a judge in the court martial, was killed in a duel. The victor of the duel was James Barron.
    1808 – Zebulon Pike (d. 1813) reached the mountain summit that would be named for him.  As a US Army captain in 1806–1807, he led the Pike Expedition, sent out by President Thomas Jefferson to explore and document the southern portion of the Louisiana territory and to find the headwaters of the Red River, during which he recorded the discovery of what later was called Pikes Peak.
    1832 - John Ireland Howe of Derby, CT, obtained a patent for manufacturing pins. He exhibited it at the American Institute Fair in New York City, receiving a silver medal for his contribution to Manufacturing. He later founded the Howe Manufacturing Company and made improvements on his design. It was a great boon to the clothing industry, among others.
    1839 - Cherokee leaders Major Ridge, John Ridge, and Elias Boudinot were assassinated for signing the Treaty of New Echota, which had resulted in the Trail of Tears.  The treaty established terms under which the entire Cherokee Nation ceded its territory in the southeast and agreed to move west to the Indian Territory. Although the treaty was not approved by the Cherokee National Council nor signed by Principal Chief John Ross, it was amended and ratified by the US Senate in March, 1836.  The supporters of Ross, in teams ranging up to twenty-five in number, converged on the houses of John Ridge, Major Ridge, and Elias Boudinot and murdered them.
    1845 – Birthday of Tom Dula (d. 1868) in Wilkes County, NC.  A former Confederate soldier, he was convicted of murdering Laura Foster. National publicity from newspapers such as The New York Times turned Dula's story into a folk legend. Dula was tried, convicted, and hung. Considerable controversy surrounded the case and in subsequent years, a folk song was written (entitled “Tom Dooley”, based on the pronunciation in the local dialect), and The Kingston Trio recorded a hit version of the ballad in 1958.
    1846 – Adolphe Sax (1846-94) patented his invention – the saxophone. He had invented the instrument early in the decade, and by the time the patent was granted there were 14 different saxophones – seven designed for orchestras and seven for bands. The saxophones designed for bands are the ones in common use today.
    1847 – The doughnut with a hole was first invented in 1847 by American sea captain Hanson Crocket Gregory.  He claimed to have invented the ring-shaped doughnut in 1847 aboard a ship. Gregory was dissatisfied with the greasiness of doughnuts twisted into various shapes and with the raw center of regular doughnuts. He claimed to have punched a hole in the center of dough with the ship's tin pepper box, and later taught the technique to his mother.  Smithsonian magazine states that his mother, Elizabeth Gregory, "made a wicked deep-fried dough that cleverly used her son's spice cargo of nutmeg and cinnamon, along with lemon rind," and "put hazelnuts or walnuts in the center, where the dough might not cook through", and called the food doughnuts.
http://www.etni.org.il/challenge/challenge5.htm
    1850 - In San Francisco, a 500-pound grizzly bear was caught near the Mission Dolores.
    1868 – Arkansas was re-admitted to the Union.
    1870 – Congress created the Department of Justice.
    1870 – America’s first boardwalk was built, in Atlantic City.  In the mid-1800s, oceanside resorts and the railroads that provided transportation to them were enjoying a booming success, but they were also gritting their teeth against the problem of sand — it was everywhere! Finally, a solution was found to keep the sand at bay: a walkway made of boards that would lead from town to the beach, helping keep sand out of the tourists' shoes.
    1896 - Dr. Mary Stone (Shih Mai-Yu) graduated from the Medical School of the University of Michigan, Ann Arbor, MI, becoming the first Chinese woman physician. She founded the Women’s Hospital at Kiukiang, China, under the auspices of the Methodist Foreign Mission and served as its head for 25 years.
    1894 - Legendary magician and escape artist Harry Houdini married Wilhelmina Beatrice Rahne.  (Lower part of:  http://memory.loc.gov/ammem/today/jun22.html )
    1898 – Adm. Sampson begins amphibious landing near Santiago, Cuba. Lt. Col. Theodore Roosevelt and Col. Leonard Wood led the Rough Riders, a volunteer cavalry regiment, onto the beach at Daiquiri in the Spanish American War.
    1899 - Richard Gurley Drew (d.  1980) was born in St. Paul, MN.  He was an inventor who worked for Johnson and Johnson, Permacel Co., and 3M, where he invented masking tape and cellophane tape.
    1903 – Birthday of Ben Pollack (d. 1971) in Chicago.  Dixieland drummer, who owned a “pizza/beer/jazz “ joint on Sunset Blvd in Hollywood, California, with a cover charge. When I was growing up, this was one of best hang outs as those under 18 could get in, and often, we had beer, although we were also not 21. Pollack was a “boom-chick-a-boom” drummer, but played with some of the best and is mentioned in many Chicago jazz era books. Warren Luening, Jr. would sometimes sit in and play trumpet with the band. Pollack really liked his playing, and it may have been one of the reason we were always able to drink beer here.
    1903 – New York Giants Hall of Fame pitcher Carl Hubbell (d. 1988) was born in Carthage, MO.  Twice voted the NL’s MVP, a rarity for pitchers, Hubbell was inducted into the Hall in 1947. During 1936 and 1937, Hubbell set the Major League record for consecutive wins by a pitcher with 24. He is perhaps best remembered for his performance in the 1934 All-Star Game, when he struck out five of the game's great hitters and future Hall of Famers in succession: Babe Ruth, Lou Gehrig, Jimmie Foxx, Al Simmons, and Joe Cronin.
    1903 – John Dillinger (d. 1934) was born in Indianapolis.  His gang robbed twenty-four banks and four police stations.  In the heyday of the Depression-era outlaw (1933–1934), Dillinger was the most notorious of all. The government demanded federal action, and J. Edgar Hoover developed a more sophisticated FBI as a weapon against organized crime, using Dillinger and his gang as his campaign platform to launch the FBI.  Dillinger was gunned down by an FBI team outside a movie theater in Chicago.
    1910 – Dancer, anthropologist, humanitarian, philanthropist
Katherine Dunham (d. 2006) was born in Chicago, IL.
http://www.eslarp.uiuc.edu/kdunham/bio.htm
http://www.pbs.org/wnet/freetodance/biographies/dunham.html
    1912 - The Republican Party under President Roosevelt got into a bitter feud among the various factions of the party, starting out in the open with Roosevelt asking a faction to leave the convention; resulting in a split party.  This basically gave the election to Democratic candidate Woodrow Wilson, who was not that popular but won because of the Republican split.
http://www.canoe.ca/MusicHistoryAugust/home.html
    1912 – Ty Cobb was pinch hit for in an unusual scenario. With two outs in the 9th, and the Tigers down 11-3, Cobb was nowhere to be found, and George Mullin substituted and flied out to end the game. It turns out Cobb was in the clubhouse showering.
    1915 – Subway service was launched in Brooklyn, the BMT for Brooklyn Motor Transit.
    1918 - A Michigan Central Railroad troop train, after several days shuttling soldiers to New York from Chicago, was deadheading back to the Midwest when it struck the rear of the Hagenback-Wallace Circus train. The circus trained has stopped to have its brake box overhauled in Ivanhoe, Indiana. Fifty-three circus performers were killed. Of the circus animals not killed outright, many that were crippled and maimed had to be destroyed by police officers. The performers, of who only three could be identified, were buried in a mass grave. The engineer, A.K. Sargent, who was accused of falling asleep at the throttle, was tried and acquitted.
    1919 - An F5 tornado struck the town of Fergus Falls, Minnesota. 59 people were killed and 400 buildings were destroyed. Lumber was carried for 10 miles and other debris were found 60 miles away.
    1930 – Babe Ruth tied a Major League record by hitting five homers in two games and six homers in three games. The Yankee outfielder hit three homers in the second game of the doubleheader yesterday, two homers in today's opener and one more in the nightcap.
    1932 - The National League club presidents finally approved players wearing numbers. The AL had started the practice in 1929.
    1933 - Birthday of Dianne Feinstein, born Dianne Emiel Goldman in San Francisco.   She is the U.S. Senator from California since 1992 and the former Mayor of San Francisco. In 1969, she became the first woman to be elected president of the San Francisco Board of Supervisors and then succeeded the murdered mayor George Moscone, serving 1978-88. She was defeated in a try for Governor of California and then was elected U.S. Senator in 1992.
    1936 - Singer, songwriter and actor Kris Kristofferson was born in Brownsville, Texas.   Kristofferson earned a Rhodes Scholarship to Oxford University, where he studied at Merton College. While at Oxford, he was awarded his Blue for boxing and began writing songs. With the help of his manager, Larry Parnes, he recorded for Top Rank Records under the name Kris Carson. His first success as a songwriter came when Roger Miller recorded "Me and Bobby McGee." That song was turned into a million-seller by Janis Joplin in 1971. And Sammi Smith sold a million with "Help Me Make It Through the Night," another Kristofferson song. By this time, Kristofferson had begun his career as a singer, and in 1972, his single, "The Silver-Tongued Devil and I," was certified gold. His other successes have included the single, "Why Me," and the albums "The Silver-Tongued Devil and I" and "Jesus Was a Capricorn." In 1985, Kristofferson, along with Johnny Cash, Waylon Jennings and Willie Nelson, recorded the hugely successful "Highwayman" single and album. There was a "Highwaymen Two" album in 1990 with the same cast.
    1937 - At Chicago’s Comiskey Park, Joe Louis won the World Heavyweight Championship title by knocking out James J. Braddock in the eighth round. Louis retained the title until his retirement in 1949.
    1938 - Exactly one year after the Braddock fight, Louis met Germany’s Max Schmeling, at New York City’s Yankee Stadium. Louis knocked out Schmeling in the first round.
http://www.ibhof.com/jlouis.htm
    1940 - During World War II, Adolf Hitler gained a stunning victory as France was forced to sign an armistice eight days after German forces overran Paris.
    1941 - Over 3 million German troops invaded Russia in three parallel offensives, in what is the most powerful invasion force in history.
    1942 - A Japanese submarine shelled Fort Stevens, Oregon, at the mouth of the Columbia River. In a plan, balloons were launched with bombs that landed in Oregon, but the military along with the news media never mentioned the fires or damaged that occurred.
    1944 - The GI Bill of Rights was signed by President Franklin D. Roosevelt. One of the most important governmental measures of the post-World War II era, the bill was designed to provide greater opportunities for returning war veterans. An important result of the bill was the training of almost 8 million veterans.
    1942 – The Pledge of Allegiance was formally adopted by Congress
    1945 - Howard Kaylan, one of the two lead singers of the Turtles, was born in New York City. The Turtles had hit singles with "It Ain't Me Babe" in 1965 and "Happy Together" and "She'd Rather Be With Me," both in 1967. Some members of the Turtles wanted the group to be more than a band that made hit singles. The resulting dissension led to the Turtles' breakup in 1968. Lead singers Howard Kaylan and Mark Volman joined the Mothers of Invention, and then embarked on a duo career as Flo and Eddie.
    1947 - 12 inches of rain fell in 42 minutes at Holt, Missouri, setting a new rainfall intensity world record. That record was tied on January 24-25, 1956, at the Kilauea Sugar Plantation in Hawaii, as their state record was established with 38 inches of rain in 24 hours.
    1947 – Ewell Blackwell just missed pitching back-to-back no-hitters when Eddie Stanky of the Brooklyn Dodgers singled with one out in the 9th inning. Blackwell won, 4-0, his ninth straight win, to improve to 11-2. Stanky's hit ended Blackwell's hitless-inning streak at 19. He had no-hit the Boston Braves on June 18th and won 16 consecutive games in 1947.  Cincinnati’s Johnny Vander Meer is the only Major League pitcher to throw consecutive no-hitters.
    1949 - Top Hits
“Again” - Gordon Jenkins
“Some Enchanted Evening” - Perry Como
“Bali Ha’I” - Perry Como
“One Kiss Too Many” - Eddy Arnold
    1950 - Prominent figures in the music industry, including Leonard Bernstein, Aaron Copland, Lena Horne, Pete Seeger and Artie Shaw, were named publicly as suspected Communist sympathizers in the infamous publication, “Red Channels: The Report of Communist Influence in Radio and Television”.
1957 - Top Hits
“Love Letters in the Sand” - Pat Boone
“Teddy Bear” - Elvis Presley
“I Like Your Kind of Love” - Andy Williams
“Four Walls” - Jim Reeves
    1959 - Eddie Lubanski bowled 24 consecutive strikes, that is two perfect games, back-to-back, in a bowling tournament in Miami, Florida.
    1959 - Chuck Berry's "Memphis" is released.
    1959 - Starting its fourth week at the top of the Tunedex was "The Battle of New Orleans" by Johnny Horton. The song spent six weeks at number one. It was Horton’s only number one record and million copy seller. He had other big hits with movie music like "Sink the Bismarck" and "North to Alaska" from the film by the same title, starring John Wayne. Horton, from Tyler, Texas, married Hank Williams' widow Billie Jean Jones. On November 5, 1960, Johnny Horton was killed in a car crash.
    1959 – The Dodgers’ Sandy Koufax fanned 16 Phillies to set a new record for a night game, winning, 6-2.
    1962 - St. Louis Cardinal Hall of Famer Stan Musial broke the late Ty Cobb's Major League record of 5,863 career total bases.
    1963 - "Fingertips - Pt 2," by Stevie Wonder, was released, and became his first number one single on August 10th. From 1963 to 1987, Wonder had 46 hits on the pop and R&B music charts, eight of which made it to number one.
    1963 - The Safaris' "Wipe Out" is released.
    1963 – Phillies’ CF Tony Gonzalez played his 200th straight errorless game to help rookie Ray Culp beat Roger Craig and the Mets, 2-0.
    1964 - The United States Supreme Court voted that "Tropic of Cancer," Henry Miller’s controversial book, could not be banned.
    1965 - Top Hits
“I Can’t Help Myself” - The Four Tops
“Mr. Tambourine Man” - The Byrds
“For Your Love” - The Yardbirds
“Ribbon of Darkness” - Marty Robbins
    1968 - Mason Williams' "Classical Gas" is released.
    1968 - The Jeff Beck Group, with Rod Stewart and Ron Wood, made its US debut at the Fillmore East in New York City. Stewart was said to have had such a severe case of stage fright that he hid behind the speakers for the first couple of songs. The band, which had a major influence on the heavy metal groups that followed, broke up after two LPs and several North American tours.
    1969 - The Cuyahoga River caught fire in Cleveland, drawing national attention to water pollution, and spurring the passing of the Clean Water Act and the creation of the EPA.
    1969 – Singer/actor Judy Garland died at age 47.
    1970 - President Nixon signed the 26th amendment, lowering the voting age to 18
    1972 - Hurricane Agnes, a category 1 storm, made landfall near Apalachicola, Florida on the 19th, moved northeast, joined up with an upper level disturbance, and unloaded anywhere from 10 to 20 inches of rain across Maryland, Virginia, Pennsylvania, and New York during the period from the 20th to the 25th. Extreme flooding was the result -- the worst in U.S. history. A dike was breached at Wilkes-Barre, Pennsylvania and the resultant wall of water destroyed much of the city. Total damage was $3.5 billion and 122 lives were lost.
    1973 - Top Hits
“My Love” - Paul McCartney & Wings
“Playground in My Mind” - Clint Holmes
“I’m Gonna Love You Just a Little More Baby” - Barry White
“Kids Say the Darndest Things” - Tammy Wynette
    1976 – Randy Jones pitched the Padres to a 4-2 win over the Giants, and tied Christy Mathewson’s 63-year-old NL record by going 68 innings without issuing a base on balls. He received a standing ovation from the home crowd to end the 7th. His streak ended when he walked C Marc Hill leading off the 8th.
    1977 – Convicted Watergate conspirator and former Attorney General John Mitchell started a 19-month term in an Alabama Federal prison.
    1981 - John Lennon's murderer, Mark David Chapman, pleads guilty to his crime and is sentenced to 20 Years to Life in New York's Attica State prison. He has since been up for parole five times, and has been denied every time.
    1981 - A young woman from Lubbock, TX, was struck by lightning. The bolt of lightning struck just above her right shoulder near her neck, and passed right to left through her body, tearing her warm-ups, causing her tennis shoes to explode, and lifting her two feet into the air.
    1981 - Top Hits
“Stars on 45 medley” - Stars on 45
“Sukiyaki” - A Taste of Honey
“A Woman Needs Love (Just like You Do)” - Ray Parker Jr. & Raydio
“But You Know I Love You” - Dolly Parton
    1984 - In a teary home plate ceremony before the Twins-White Sox game at the Metrodome, Calvin Griffith and his sister, Thelma Haynes, signed a letter of intent to sell their 52 percent ownership of the Twins to Minneapolis banker Carl Pohlad for $32 million. Griffith and his sister had been involved with the franchise since 1922, when they were adopted by Clark Griffith, then owner of the Washington Senators. Griffith had moved the Senators, a charter American League franchise, to Minneapolis in 1960
    1985 - "People" magazine took count of the deaths in Sylvester Stallone’s "Rambo" movie, finding that 44 people directly killed. Those at "People" figured out this was an average of one person dying every 2.1 minutes. There were also 70 explosions that killed an uncountable number of people.
    1987 - Thunderstorms in southern Texas produced wind gusts to 116 mph near Quemado. Thunderstorms in New York State produced 5.01 inches of rain in 24 hours at Buffalo, an all-time record for that location, and produced an inch of rain at Bath, PA. The temperature at Fairbanks, AK soared to 92 degrees, establishing a record for the date.
    1988 - Sixty-five cities in twenty-four states reported record high temperatures for the date. Tucson, AZ reported an all-time record high of 114 degrees, surpassing the previous record of 112 degrees established a day earlier. Highs of 98 degrees at Pittsburgh, PA, and 100 degrees at Baltimore, MD, tied records for the month of June.
    1989 - White Sox C Carlton Fisk surpasses Yogi Berra as the American League leader for career home runs by a catcher as his 307th home run helps to beat the Yanks, 7-3.  But Yogi has 10 rings, Fisk has none.  Subsequently, Mike Piazza passed Fisk and holds the MLB record for HRs by a catcher with 427.
    1989 - Top Hits
“I’ll Be Loving You (Forever)” - New Kids on the Block
“Satisfied” - Richard Marx
“Buffalo Stance” - Neneh Cherry
“Love Out Loud” - Earl Thomas Conley
    1990 - The last-place Atlanta Braves fired manager Russ Nixon and replaced him with GM Bobby Cox, who last managed Toronto in 1985. Good move. Cox led the Braves to a dramatic worst-to-first turnaround, the first of its kind in the National League. In the World Series, his team lost to the (also) resurgent Minnesota Twins. Cox was name AP Manager of the Year (the first manager to be so named in both leagues) and repeated in 2004 and 2005. He led the Braves to a division title every season from 1991 to 2005, excluding the strike-shortened 1994 season. Those division titles also let to NL pennants, except for 1993 and 1997, and the Braves won their only World Series under Cox in 1995.  Cox has the fourth highest win total of any manager in MLB history and he was inducted into the Baseball Hall of Fame in 2014 with contemporaries Joe Torre and Tony LaRussa.
    1993 – White Sox C Carlton Fisk passed Bob Boone catching his 2,226th game to become the all-time leader.
    1993 - New York Met Anthony Young tied the record with his 23rd straight loss.
    1998 - CompUSA announced that it was buying Computer City from Tandy for $275 million. Tandy was selling the sickly chain as part of a turnaround it had started the previous year. Tandy president Leonard Roberts said, “Computer City was a losing operation for the company. The sale will allow us to completely focus on Radio Shack at a time when profits are at an all-time high.”  Radio Shack filed under Chapter XI in 2014 and is being liquidated.
    1990 - Billy Joel became the first rock artist to perform at Yankee Stadium.
    1994 - Ken Griffey, Jr. broke Babe Ruth's record for most home runs by end of June (31).
    2001 - Returning to the Major Leagues after a stint with Newark Bears of the independent Atlantic League, Jose Canseco starts as the designated hitter for the White Sox. The former All Star, who has 446 career home runs (23rd all time), didn't get any offers after being released by the Angels in the spring.
    2002 – Darryl Kile (1968-2002) died.  A pitcher for the St. Louis Cardinals who won 20 games in 2000, Kile died of undetected coronary disease in Chicago, where he and the Cardinals were staying for a weekend series against the Cubs.
    2003 - In the 13th inning at Veterans' Stadium, pinch-hitter Todd Pratt hits a two-run homer giving the Phillies a walk-off 6-5 victory over the Red Sox. Boston's shortstop Nomar Garciaparra's club tying record 6-for-6 (all singles) performance could not prevent the bullpen from blowing three late leads; 2-1 in the 8th (Thome's HR ties it), 3-2 in 12th (Thome's second HR ties it).
    2006 - California and the rest of the West Coast got hit by a big heat wave. For three days it has been over 100 degrees in the shade.
It was 104 degrees at Los Gatos, California. The air conditioning could not keep up and when the office hit 83 degrees at 3pm, Leasing News closed up and all went home for a cool one.
    2009 – Eastman Kodak announced that it will discontinue sales of the Kodachrome Color Film, concluding its 74-year run as a photography icon.
    2009 - A DC Metro train, traveling southbound at the Fort Totten Station in suburban Maryland, collided into another train sitting in the station. Nine people were killed in the collision (eight passengers and the train operator) and at least 80 others were injured.
    2009 – Donald Fehr announced his retirement as head of the MLB Players Association after 25 years. He was in charge during the 1994 strike that cancelled the World Series, the rampant use of PEDs that he protected under the cover of player privacy, and the relative labor peace that followed. His resignation was effective in March, 2010.

NBA Champions

    1994 - Houston Rockets