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Monday, March 24, 2014


Today's Equipment Leasing Headlines

Archives---March 24, 2004
 Peter Eaton and Wife Move Back to Madison, Wisconsin
  Classified Ads---Collections
A Great Time to be in the Equipment Leasing Industry”
 By Bruce Kropschot, The Alta Group
  “Competition Today for Jobs in Leasing”
    Career Crossroad---By Emily Fitzpatrick/RII
     Classified Ads---Help Wanted
 Leasing 102 by Mr. Terry Winders, CLP
  Bank Leads
   Add Me to the Mailing List
The Value of Leasing Beyond Accounting Changes
 By Martin B. Robins, Partner, FisherBroyles, LLP
  Dodd-Frank Stress Test Catches Zions Off-guard
   Google & Facebook Dominate Booming Mobile Ad Market
 Dallin Hawkins Gives His Side
  Posted on LinkedIn.com
   Alexa Report—Monitor Daily & Lessors Jump Ratings
    Top Stories March 18---March 20
     (You May Have Missed One)
      Black Labrador Retriever Mix
       Portland, Oregon Adopt-a-Dog
        Classified ads—Verification
News Briefs---
Arvest Equipment Finance grows loans, leases 8.1% in 2013
 FASB, IASB Differ on Accounting Model for Leasing
  U.S. companies' offshore profits keep piling up
   Russian bank SMP says Visa, MasterCard resume services
    GoBank Opens Online Store Selling Bank-Branded Swag

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

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www.evergreenleasingnews.org

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Archives---March 24, 2004

Peter Eaton and Wife Move Back to Madison, Wisconsin
by Kit Menkin

 

Keeping his job at Pentech Financial as Vice-President of  Pentech’s Intermediary Market Group, the popular Peter Eaton, and his wife Patricia, are moving closer to be with their children and grand-children.

 

“Conference Chairman Peter Eaton, CLP,(l) and his wife Patricia visit with First National easing Corporation executive Vice-President Casey Kolp and his wife Linda during the Sports Reception.” October, 1990, Western Association of Equipment Lessors Conference, Monterey, California

“We’ve been here twenty years, “ he said. “ I travel a lot now, plus 80% of what I do now comes in over the internet, plus things now are also sent so easily in ‘pdf,” that it doesn’t matter where you are.  You couldn’t say that ten years ago.”

Here is our earliest “Pictures from the Past” on Mr. Eaton, CLP.

Pictures from the Past
Featured on Leasing News: 3/26/2003

---1987---

Seven Receive CLP Designation

The third set of Certified Lease Professionals was granted final approval and received plaques commemorating the designation at the Fall Conference in Hawaii.

New CLPs recognized by Western Association of Equipment Leasing President Joe Woodley(left) were from left: Michael Walsh, Atlantic Financial Savings

Bank; Ron Wagner, Heritage Leasing Capital; Brian Pindell, Commercial Equipment Lease Corp.; Ben Millerbis, Pentech Financial Services; Peter Eaton, First National Leasing Corp.; Duane Russell, Atlantic Financial Savings Bank.
November, 1987 WAEL NewsLine

It also pictures Ben Millerbis, now president/ceo of Pentech Financial.

The company specializes in $150,000 and above transactions;  providing lease lines of credit to venture capital backed emerging growth companies as well as “story” credits with a thorough old style bank “investigation,” often including meeting with the applicant and their financial team. Eaton works with brokers throughout the United States.

“While we will most certainly benefit from Peter being closer to the Mid-west and Eastern broker community, we will dearly miss both Peter and Patricia here in San Jose, “Millerbus said.”  Peter is not only a wonderful business associate but a great friend as well.  I guarantee they will miss our California wines in cheese country."

He came to Palo Alto, California, in 1991, where he headed the First National Leasing Corp West Coast Office.  He then went on his own with Sevilla Leasing and Associates in Palo Alto, 1993;  joined Leasing Associates in Mountain View, California, then joining Pentech Financial as Executive Vice President.  His hobbies include golfing and riding his Harley Davidson motorcycle, plus he is known for being quite a horseman.

He and his wife are packed up, and ready to go, the truck leaves Friday.  Look for a motorcycle escort.


TODAY

Madison, Wisconsin
Sales Consultant

Objective Third Party Consulting
(November 2010 – Present)
www.linkedin.com/pub/peter-eaton/23/2b1/1b5

 


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Classified Ads---Collections


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


Long Grove, Illinois

Financial services professional with a proven track record of positively impacting corporate finances through effective management of cash flow, collections and financial assets. Strategic thinker capable of analyzing financial issues and processes in order to implement changes that improve efficiency and profit margins. Well-versed in all aspects of corporate financial affairs. roborgaard@aol.com | Resume


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

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



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A Great Time to be in the Equipment Leasing Industry”

By Bruce Kropschot
The Alta Group

The 14th annual Investors Conference on Equipment Finance was held in New York City on March 20, 2014. As has been the case for a number of years, the conference was organized by Information Management Network (IMN) in partnership with the Equipment Leasing and Finance Association (ELFA.) Registered attendees totaled about 350, a small increase over the prior year. This conference attracts senior executives of independent equipment leasing and finance companies, major funding sources for such companies, organizations such as private equity firms, hedge funds, and insurance companies that are interested in acquiring or investing in the equity or debt of equipment leasing and finance companies, and service providers to the industry, such as law firms, rating agencies, investment banks, and lease servicing companies.

ELFA President & CEO William G. (“Woody”) Sutton’s opening remarks provided a recap of ELFA’s activities. He also paid tribute to the late Jim McGrane, a long-time leasing executive who had supported ELFA in a number of roles and whose memorial service was held the previous day.

Next, ELFA COO Ralph Petta moderated a panel that presented an overview of the equipment finance sector in 2014. Mr. Petta provided an update on the joint IASB/FASB meeting held the previous 2 days. Differences between these organizations’ approach to new lease accounting rules have not been resolved, and Mr. Petta believes that any accounting rule changes will not be effective before 2017 or 2018 at the earliest. This panel included industry veteran Bob Rinaldi of King Commercial Finance, who discussed industry performance statistics, and representatives of S&P and Chapman and Cutler. Joanne DeSimone of S&P reported that credit quality in lease securitizations remains good. However S&P is not lowering their loss expectations as loss experience improves because they recognize that the cyclical nature of the economy will likely result in higher loss rates before present securitizations mature. Ms. DeSimone also noted that total equipment leasing and finance asset backed securitization volume (excluding floor plan assets) totaled $16 billion in 2013 and is projected to reach $17 billion in 2014. Tom Howard of Chapman and Cutler discussed regulatory issues impacting the equipment finance sector. Particularly important to the industry are the risk retention rules under Dodd-Frank and the SEC’s proposed Reg. AB II relating to asset backed securitizations, which could have a negative impact on the ABS market.

A session covering the investor’s perspective was chaired by Miles Herman of Leaf Commercial Capital. The panel included Andrew Bender of lessor GSG Financial and investor representatives from Atalaya Capital Management, Genworth Financial, TIAA-CREF and Flexpoint Ford. The latter firm, a private equity investor, recently sold Financial Pacific Leasing, and the other 3 investors discussed their parameters for purchasing equipment leasing and finance debt instruments.

The last morning session was an update on debt liquidity, chaired by David D’Antonio of EverBank. Matthew Perkins of Guggenheim Securities provided debt market statistics and observed that, with the current tight spreads and lots of liquidity in the market, it is an excellent time to be a borrower. Andrea Petro of Wells Fargo agreed that now is a good time to securitize if you can get a good debt rating. It was not surprising that Evan Wilkoff of Ascentium Capital, which recently completed a securitization at very low spreads, stated that this is a great time to be in the equipment finance industry.

The opening session in the afternoon focused on new products and trends emerging in the equipment finance sector. The discussion included products that may be competitive to equipment leasing, including loans to small businesses (such as those offered by OnDeck and its competitors) and merchant cash advances. David Gilbert of National Funding talked about his firm’s evolution from small ticket equipment leasing to becoming a major originator of merchant cash advances.

The next session reviewed the various markets for transportation finance and included panelists who are active in the aircraft and trucking markets. It was noted that there have rarely been as many options for commercial jet aircraft financing as are available in the current market. The final session of the conference focused on financing renewable and alternative energy projects, including wind and solar.

Throughout the day many attendees spent time networking in the service provider exhibit room. Some attendees had pre-arranged meetings to discuss equity or debt investment opportunities. The networking continued into the early evening during the closing cocktail reception that was well attended. Judging by the number of people who attend the Investors’ Conference every year, the program and the networking opportunities are well worth the registration fee.

Bruce Kropschot, Senior Managing Director and
Merger & Acquisition Advisory Practice Leader
The Alta Group, LLC
2352 Clearwater Run
The Villages, FL 32162
(352) 750-3588
www.thealtagroup.com

“The Alta Group is the leading provider of consulting services to equipment leasing and financing companies worldwide.  Kropschot Financial Services, the leading M&A advisory firm for equipment leasing and financing companies, became part of The Alta Group in 2008.  Our combined organization has arranged over 200 mergers and acquisitions of specialty finance businesses representing both buyers and sellers, and we also sell equipment lease portfolios, perform business valuations and arrange debt and equity financing for our clients.  We utilize The Alta Group's worldwide resources of more than 80 equipment leasing and financing experts to better serve our Merger & Acquisition Advisory Practice clients.”



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Competition Today for Jobs in Leasing”
Career Crossroad---By Emily Fitzpatrick/RII


Question: Emily, what is today’s candidate competition like in the industry?

Answer: Within today’s equipment finance / leasing environment (early 2014), candidate competition varies based on position type:

Sales and/or Producing Sales Managers

Companies are always looking to increase volume, particularly smaller-mid size banks or independent leasing companies; if you have business / deals to bring to the table that fit into the company’s business model, the only barrier is yourself (your history of success or failure in production)

Operations or Non-Producing Sales Management
These types of positions within the industry are starting to increase – there was a slow down after the financial crisis … Competition for these types of positions can be a bit fierce … e.g. one management position had 43 “qualified” applicants – the determining factor of the “winner” was minute, and was based on the Candidate’s successful interviews.

I never thought there would still be so many excellent candidates out there … I thought I was competing in a small pool, but there are many people just like me … The CEO said it was my last three interviews, not my credentials, that set me apart and landed me the opportunity …”

How to Set Yourself Apart

· Self-confidence and determination are critical factors in rising abovethe fray.
· Understand everything you can about interviewing (see some of our previous columns).
· Utilize an experienced Career Consultant / Recruiter to assist in preparing you will also give you an added benefit – a professional who will be with you every step of the process, from pre-interview tasks to the final phase.

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


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Leasing Industry Help Wanted

 

 

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Leasing 102
by Mr. Terry Winders, CLP


Bank Leads

Banks of all sizes approach leasing as an extension of lending, rarely take residuals and prefer leases with $1 purchase option leases. They do not like to look for leasing, but on occasion one of their customers may ask for one. After they try and talk them out of it, they may search for alternatives. Therefore, one of the best markets for middle and small leasing companies is to get close to as many banks as you can for leads and funding.

The reason most community banks shy away from leasing is the high cost of setting up a back office. In addition, they do not understand the documentation, don’t like the liability that exposes them as “lessor”, and many customers have complained about extra payments, deposits not returned, and being hit with “fair market value” when they thought it was a $1.00 purchase option. Bankers are particularly not interested in reconciling the difference in an operating lease between a tax lease payoff and a book payoff.

To gain a bank’s trust you need to explain your procedures and request that a bank loan officer accompany you on a few calls. They need to see how you react with their customers before they will allow you to contact a customer with their blessing. It is also a good idea to bring your leasing customer or vendor to the bank as a depositor or for other types of business besides leasing. It is an opportunity for you as well as the bank to create new business.

One of the reasons banks look to have someone do leases for them is when a customer is reaching their legal lending limit and they are afraid the customer may move to a larger bank. If you make a lease and use your credit to borrow from the bank, they can fund to you and save their customer. It may change your funding procedure on that customer so you may have to borrow the money our own credit because it would be hard to sell it or fund it with another bank.

Even though banks view leasing as fancy loans, you need to explain how leases can improve their return on investment by offering terms that are not usual in lending. For example, off irregular payments and terms that coincide with when the lessee needs to change equipment instead of just offering full year terms.

Banks are an excellent source of leads, but they require a lot of work and time because they look at us in the same light as used car salespersons.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at terrywinders11@yahoo.com or 502-649-0448

He invites your questions and queries.

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


Mr. Terry Winders available as a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry.

He is the author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

502.649.0448/terrywinders11@yahoo.com

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

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The Value of Leasing Beyond Accounting Changes
By Martin B. Robins, Partner, FisherBroyles, LLP.


While much has been made of the anticipated accounting changes which will require on-balance sheet booking of lease obligations, reputable companies still have good reason to lease. Even though some companies used leasing to deceive investors as to the extent of their debts, and accounting regulators are making this much less likely, good companies will still find many reasons to lease. Such reasons include cash flow customization, greater availability than conventional financing, and facilitation of equipment updates. However, lessees must be aware of a number of situations where leasing doesn’t work.

Equipment leasing has been in the financial news lately for the wrong reasons. Specifically, accounting regulators have made clear their intention to tighten accounting standards in order to prevent leasing from being used to hide obligations of the lessee. While this has undoubtedly been the case with some lessees such as Enron, it must not obscure the fact that leasing remains a legitimate and essential business tool. The value of leasing goes far beyond its accounting treatment.

Like any other tool, it must be used properly to avoid causing harm. It may be used for all types of hard assets ranging from trucks and trailers to rail cars to computers to medical equipment to airplanes, and is already being used for hundreds of billions of dollars of equipment in the US alone. In some cases, ‘soft’ costs such as freight, taxes and installation may be rolled into the rental payment.

Leasing offers several potential benefits not available with traditional financing. Lessors often have a more flexible underwriting approach than bankers or public markets and may be more amenable to customized cash flow patterns. They may also be able to allow lessees to effectively utilize, through an adjustment to the rental rate, tax benefits, such as depreciation, for which they do not have sufficient taxable income for direct use. Unlike ‘regular’ financing, leases can often be written as a sale and leaseback structure, to allow lessees to recoup the cash they have invested in existing assets.

Those interested in leasing have a number of alternative sources ranging from bank affiliates to manufacturer captive lessors to independent lessors, both general and specialized. Banks will often include leases of selected assets in an overall financing package. Many lessors also offer value-added services such as advice on equipment selection, system integration, and maintenance/repair.

Like all powerful tools, leasing offers great value, but must be used by those with proper knowledge of when and where it is appropriate.

Operationally, leasing works well for assets such as computers which lessees do not desire to keep for their full functional life but desire to replace with state of the art technology. This is because the lease usually provides for the aggregate fixed term rent payments to be for a present value of substantially less than the equipment cost, meaning that the lessor takes the risk of the equipment’s value at the end of the term. However, lessors are usually more willing to offer the lowest rents for equipment they expect will be purchased or renewed at the end of the initial term, i.e., where they perceive the ‘residual’ risk to be lowest.

Under current FASB accounting rules, leasing often allows lessees to keep assets and liabilities off their balance sheets if (in very general terms) the present value of the fixed term rent is less than 90% of the equipment cost and the lease term is less than 90% of the anticipated economic life [operating leases]. Such treatment may also allow more flexibility with respect to loan covenant compliance and internal budgeting matters where capital expenditure limits come into play. However, readers should expect substantial change in these rules, all of which would involve elimination of the distinction between operating leases and other types, and require the booking of lease obligations and corresponding assets.

Proper financial analysis must be performed to ensure that proposed lease terms in each case do provide on a present value basis for substantially less than the full equipment cost for the fixed term. This analysis should also include vetting of proposed lessors for financial strength. Financial problems may complicate exercise of lease options, payment to vendors for equipment, and require dealings with third parties who were not originally involved in the transaction.

There must also be appropriate legal review of contract terms, particularly those of ‘master leases’ which set overall terms for all business between lessor and lessee. The terms of a master lease are incorporated into schedules or supplements governing individual transactions and contain the business terms for each, such as equipment description, rent and term, end of term fair market renewal/purchase options, early termination options, and, if applicable, special return provisions for assets such as trucks and forklifts.

Documentation will always include triple net provisions making the lessee responsible for taxes, insurance and maintenance, similar to a real estate lease, and ‘hell or high water’ terms making the lease non-cancelable, and for rent to be payable in all events, including a dispute between lessor and lessee or non-performance of the equipment. In the latter case, the lessee will need to pursue a claim under its manufacturer warranty. For leases of items located outside the US, the documentation will be more complicated.

There are a number of situations in which leasing is ill-suited. Such situations include:

  • Intention to retain equipment for its full functional life and not refresh it;

  • Inability to return equipment in a state which allows the lessor to remarket it, i.e., it is badly beaten up;

  • Inability to track equipment well enough to permit its timely return; and

  • Practical difficulty de-installing equipment such as its attachment to or installation in walls or operational disruption from taking it out of service.

The end of the distinction between operating leases and other leases should not dissuade lessees from leasing. However, they need to keep in mind the situations where it is – and is not – well suited for their particular business needs.

Martin B. Robins, Partner FisherBroyles LLP, formerly SVP and General Counsel Meridian Leasing Corporation. His law practice emphasizing corporate and IP matters including leasing.

FisherBroyles, LLP
203 N. LaSalle Street, Suite 2100 |
Chicago, IL 60010, USA  
Direct: 847.277.2580 
Mobile: 847.727.7927 
mrobins@fisherbroyles.com| 
www.fisherbroyles.com


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Dodd-Frank Stress Test Catches Zions Off-guard
By Nathan Stovall and Salman Aleem Khan

A SNL Financial Exclusive


While the Street took the annual Dodd-Frank Act stress tests mostly in stride, Zions Bancorp's performance in the exercise left some questioning if the company has a capital hole and what actions it will take to address it.

The Dodd-Frank Act stress tests, or DFAST, largely showed that the banking industry is on strong footing, even under fairly draconian scenarios, including one where housing prices fall 25% and commercial real estate prices plunge nearly 35%. Analysts said the results could even offer some support for the capital plans a handful institutions submitted to regulators as part of the Comprehensive Capital Analysis and Review, or CCAR process, which will surface March 26. Compass Point analysts noted that American Express Co., Inc. Regions, Wells Fargo & Co., KeyCorp and Ally Financial Inc. demonstrated notable improvement in their minimum Tier 1 common ratios in the DFAST exercise, giving the market confidence about the capital deployment requested by the publicly traded institutions and the latter's possible IPO.

The DFAST results did leave questions about Zions' future capital plans. The Fed disclosed that Zions would have a 3.5% Tier 1 common ratio under the Fed's severely adverse stress scenario, well short of the 5% minimum. Zions said the stress test results were worse than it had projected due to significantly higher commercial real estate losses, significantly greater risk-weighted assets and lower pretax, pre-provision net revenue. Most of the projected losses in the Fed's scenario came from Zions' commercial real estate bucket, where the Fed assumed $1.5 billion in losses, or 60% of total loan losses, based on a portfolio loss rate of 8.3%. The average loss rate on commercial real estate projected by the Fed across the 30 BHCs that participated in the exercise was 8.4%.

Zions also noted that the original submission it made to the Fed occurred before it sold a block of collateralized debt obligations, or CDOs, in January and February that would result in a substantial reduction in risk. The company said during its investor day in February that the CDOs would "have contributed disproportionately to hypothetical projected losses." Zions said it had included over $600 million of "stress case" losses on its CDO portfolio.

The Salt Lake City-based bank said after the DFAST results surfaced that it plans to resubmit its capital plan and include additional actions aimed at further reducing risk and/or increasing common equity capital such that its capital ratios at least meet the minimum.

Klock further noted that risk-weighted assets used in the stress tests were higher than the company expected. He said it is hard to know what credit was given to the total return swap Zions has against its CDO portfolio that helps lower the company's level of risk-weighted assets.


More importantly, though, were the pretax, pre-provision net revenue assumptions used by the Fed, he said. The Fed disclosed that Zions would post $200 million in pretax, pre-provision net revenue over the nine-quarter period under the severely adverse scenario, which Klock said equates to just 12% of his estimates for the company during a non-stressed environment.

"That's lower than anyone else, than any of the peers," Klock said.

Some other members of the sell-side community expressed greater concern over Zions' performance in the DFAST exercise. Evercore analyst John Pancari said Zions' credit performed materially below expectations and the results suggested that the company has a capital hole. The analyst said in a March 21 report reviewing the stress tests that Zions' shortfall in the stress tests might make a common equity raise "necessary as other options may not be as beneficial or feasible." He said that Zions could sell the remaining $1.2 billion in CDOs it holds and reduce losses by up to $300 million. He said the company could sell a portion of its CRE portfolio to reduce credit losses, but the analyst noted that would come at the cost of lost revenue.

"However, this would also hurt PPNR and would be a significant impediment to growth and a shift in Zions core business model," Pancari noted, adding later: "In our view, Zions is most likely to sell down the CDO portfolio and pursue a common equity raise up to $300 [million], which we estimate would be about 5% dilutive to annual EPS."

Zions made clear that it will take actions to increase its capital ratios, though did not provide much detail on its plans. Klock believes that a common equity raise is unlikely and thinks the company can build its capital ratios through other means, including further sales of its CDO portfolio. He said the CDO sales the company already conducted in January and February likely would improve its capital by close to 70 basis points, putting it roughly halfway to the 5% minimum level laid out in the stress tests. Zions has a $70 million embedded gain in its insurance CDO portfolio due to the change in the Volcker rule, he said, giving the company the opportunity to sell those assets at a gain while reducing risk.

"In my opinion, it's a very minimal possibility that they're going to raise any common equity," Klock said. "They've proven ways to go about raising capital without diluting capital. I think the easiest way for them to do it here is sell more of the CDOs."

Other banks participating in the DFAST are less likely to take any actions based on the results of the exercise. Fourteen of the 30 institutions — Bank of America Corp., BB&T Corp., Citigroup Inc., Capital One Financial Corp., Comerica Inc., Huntington Bancshares Inc., JPMorgan Chase & Co., KeyCorp, Northern, PNC Financial Services Group Inc., Santander Holdings USA Inc., SunTrust, U.S. Bancorp and Wells Fargo — had provided their results as of this publication.

Those institutions simply released the results of their own exercises and did not offer any real commentary on the stress tests or insight into the capital plans they submitted in connection with CCAR. The institutions' own stress tests results boasted an average Tier 1 common ratio that was 98 basis points higher than the Fed's stress tests.

However, BB&T took a harsher stance in its own stress tests, disclosing that it would post a minimum Tier 1 common ratio of 6.8% under the severely adverse scenario. The Fed measured that BB&T's Tier 1 common ratio would fall to 8.2% under that scenario. The more aggressive approach by the Winston-Salem, N.C.-based bank comes after it received an objection to its capital plan in the 2013 CCAR exercise due to the Fed's qualitative assessment. The Fed insinuated at that time that it could not rely on the numbers that the company provided in its capital plan due to a recent change in risk weighting of assets.

BB&T and others remained quiet on their plans for the upcoming CCAR, but Discover Financial Services decided to release its plans a week early. The company said that its capital plan aims to increase its dividend by 20% and repurchase up to $1.6 billion of its common stock. The proposed capital actions in Discover's capital plan are subject to the receipt of a “nonobjection” from the Federal Reserve on March 26.

Projected loan losses in Dodd Case

 

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Dallin Hawkins Gives His Side
Posted on LinkedIn.com


Leasing News has been seeking a comment from Dallin Hawkins, who labels himself as “Managing Director of Sales & Operations, Integrity Financial Groups” regarding complaints posted on Leasing News (1)

On LinkedIn.com “Equipment Leasing Professionals” he posted this March 21, 2014:

Dallin Hawkins is Back Again and has posted in this group

If you Google my name you will find that I got a DUI back in 2012, 1 DUI. Not 4 like Kit Menkin with Leasing News has falsely stated among other things. You will also find 4 one sided articles written about our organization in regards to the deposits that we have kept. There are a few scenarios in which we would keep a deposit:

1. If the client has been approved on a transaction and they decide not to go through with the funding.
2. If we find that the client has provided us with fraudulent documentation or committed any other illegal acts.
3. If the client circumvents us on a transaction.

I am pretty sure any legitimate leasing company would agree with these policies and procedures.

As for my personal life, I am only human. I make mistakes like the rest of us. If you feel that you can’t work with someone with a two-year old DUI on his record and feel like that might have some type of effect on his integrity or his business practices then I will apologize in advance for my poor decision.

As for my reputation in the industry, which Kit Menkin with Leasing News is so desperately trying to destroy, please feel free to contact a credible reference on myself and our organization not some two bit broker and “journalist” who makes his money posting slanderous articles.

If you would like a sincere reference on myself and our organization from a credible source, please contact Steve Alexander at 702-776-6447. Steve Alexander with GreenRock Capital was the Senior Origination and Syndication Officer with Bank of America as well as the founder and COO of Mitsui Levitt Capital Corporation and was recently featured on the Monitor. I simply ask only that you respect his time with sincere inquires only.

Best Regards,

Dallin Hawkins
Managing Director of Sales & Operations
Integrity Financial Groups
Phone: 801-386-8222 Ext. 1001
Direct: 801-386-8174
Fax: 801-880-0009
http://equipmentfinanceservices.com
"Where Integrity Comes First!"

(Leasing News has requested a reference from Mr. Alexander. Editor)

  1. http://www.leasingnews.org/bulletin_board.htm


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Alexa Report—Monitor Daily & Lessor Jump Ratings

In the U.S. Market:

Lessors moved up to the number three spot from number seven. Monitor Daily had a major jump going from 79,066 to 46,244. World Leasing News also got below 200,000 and now has a U.S.Ranking listing.

Others declined, but not as much as the CLP Foundation, now ranked last and least visited.

World Wide Rankings:

Basically improved for the top group, primarily Lessors, plus Monitor Daily. All were up from the last count on February 4, 2014.

U.S.
W.W.
Sites Link


21,599 97,709 229
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February Chart
http://leasingnews.org/archives/Feb2014/2_05.htm#changes

 

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Top Stories March 18---March 20
(You May Have Missed One)


Here are the top stories opened by readers:

(1) Balboa Capital Loses Decisively
to Put Regents Capital Out of Business Right Now!
by Christopher Menkin
http://leasingnews.org/archives/Mar2014/3_18.htm#balboa

(2) Alert: Dallin Hawkins is Back Again
After His Fourth DUI Arrest
http://leasingnews.org/archives/Mar2014/3_20.htm#alert

(3) Archives--- March 18, 2009
Paul A. Larkins resigns from Key National Finance
http://leasingnews.org/archives/Mar2014/3_18.htm#archives

(4) New Hires---Promotions
http://leasingnews.org/archives/Mar2014/3_20.htm#hires

(5) New York Court Holds SLV Damage Provisions
in Lease to be Unconscionable
By Tom McCurnin, Leasing News Legal News Editor
http://leasingnews.org/archives/Mar2014/3_18.htm#newyork

(6) Leasing 102 by Mr. Terry Winders, CLP
Stipulated Loss Values
Tax Indemnification Agreement (TIA)
http://leasingnews.org/archives/Mar2014/3_18.htm#stipulated

(7) Cartoon---Your Call is Important to Us
http://leasingnews.org/archives/Mar2014/3_20.htm#cartoon

(8) Leasing Association Conferences
NAELB/NEFA Exhibitors-NVLA Update
http://leasingnews.org/archives/Mar2014/3_20.htm#conferences

(T) (9) Companies Putting Debt on Balance Sheet
-Path of Lease Resistance
http://ww2.cfo.com/accounting-tax/2014/03/path-lease-resistance/

(T) (9) Sales Makes it Happen by Steve Chriest
"A Sure Fire Winner"
http://leasingnews.org/archives/Mar2014/3_20.htm#sure_fire

(11) Tesla fights for a place to park
http://www.nytimes.com/2014/03/18/business/tesla-fights-for-a-place-to-park.html

 

John Kenny Receivables Management
www.jrkrmdirect.com

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs 
John Kenny
315-866-1167 |  John@jkrmdirect.com


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

[headlines]
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Black Labrador Retriever Mix
Portland, Oregon Adopt-a-Dog

 

Gretchen
January 8, 2014 – 4:09 pm
11 years old
Female
61 pounds

“Glad to meet you. I am a glorious gal named Gretchen. I am a goodhearted girl, but a tad guarded with other dogs- Now just because I don’t wanna share my home, it doesn’t mean that I’m not glowing with personality and generous with my love- because I am! I’m great with cats, goodness I really am gallant! I am even good natured around children, but they need to be gentle and gracious…then we should get along just great. I am a smart girl too and real food motivated- it doesn’t even have to be gourmet- so teaching me new things should be a cinch. I am even housebroken and crate trained already! I don’t mean to gloat, but I am a gorgeous gal, just look at my long legs and this girlish figure- ya, it’s ok to gawk! So don’t be greedy with your love, come in and meet Glorious Gretchen and I’ll show my gratitude with unending companionship. Guaranteed.

“11 years old-61lbs. My adoption fee is $80 and includes; microchip, spay, reduced cost Training Class, free veterinary exam, 1 month pet health insurance, leash/collar, food sample, Toy & Treat packet.”

Family Dogs New Life Shelter
9101 SE Stanley Avenue
Portland, OR 97206
bark@familydogsnewlife.org
http://www.familydogsnewlife.org


Adopt a Pet

http://www.adoptapet.com/

 

 

[headlines]
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Classified ads—Verification

Leasing Industry Outsourcing
(Providing Services and Products)

Verification

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

 

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm


How to Post a free "Outsourcing" classified ad:

http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm


[headlines]
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News Briefs----

Arvest Equipment Finance grows loans, leases 8.1% in 2013
http://www.thecitywire.com/node/32290#.Uy22pahdUuc

FASB, IASB Differ on Accounting Model for Leasing
http://www.complianceweek.com/fasb-iasb-differ-on-accounting-model-for-leasing/article/339138/

U.S. companies' offshore profits keep piling up
http://www.sfgate.com/business/article/U-S-companies-offshore-profits-keep-piling-up-5340956.php

Russian bank SMP says Visa, MasterCard resume services
http://in.reuters.com/article/2014/03/23/ukraine-crisis-sanctions-smpbank-idINL5N0MK05G20140323

GoBank Opens Online Store Selling Bank-Branded Swag
http://www.bankinnovation.net/2014/03/gobank-opens-online-store-selling-bank-branded-swag/

 

Working Capital Loans $10,000-$250,000
 



[headlines]

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--You May Have Missed It

How much is that doggie in the window? Try $2MM
http://www.usatoday.com/story/money/personalfinance/2014/03/23/cnbc-expensive-dog/6672773/



[headlines]
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SparkPeople--Live Healthier and Longer



Know Your Menu Watch Words
Throw the Flag at Unhealthy Cooking
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=115


[headlines]
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Spring Poem

 Three Spring Notations on Bipeds

by Carl Sandburg (1920)

            1

The down drop of the blackbird,
The wing catch of arrested flight,
The stop midway and then off: off for triangles, circles, loops of new hieroglyphs—
This is April’s way: a woman:
“O yes, I’m here again and your heart
knows I was coming.”

            2

White pigeons rush at the sun,
A marathon of wing feats is on:
“Who most loves danger? Who most loves wings? Who somersaults for God’s
sake in the name of wing power in the sun and blue on an April Thursday.”
So ten winged heads, ten winged feet, race their white forms over Elmhurst.
They go fast: once the ten together were a feather of foam bubble,
a chrysanthemum whirl speaking to silver and azure.

            3

The child is on my shoulders.
In the prairie moonlight the child’s legs hang over my shoulders.
She sits on my neck and I hear her calling me a good horse.
She slides down—and into the moon silver of a prairie stream
She throws a stone and laughs at the clug-clug.



[headlines]

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Sports Briefs----

March Madness Update
http://www.cbssports.com/collegebasketball/ncaa-tournament

Vick picks the Jets
http://espn.go.com/new-york/nfl/story/_/id/10648890/new-york-jets-reach-deal-michael-vick

Jerry Jones has lots of voices in his head — it's method, not madness
http://www.dallasnews.com/sports/dallas-cowboys/headlines/20140322-jerry-jones-has-lots-of-voices-in-his-head--it-s-method-not-madness.ece

Full-Court Press Wooed Jackson to Knicks
http://www.nytimes.com/2014/03/19/sports/basketball/how-dolan-wooed-jackson-to-lead-the-knicks.html

 

((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]
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California Nuts Briefs---

Unemployment falls in California amid strong job gains
http://www.sacbee.com/2014/03/21/6256507/unemployment-falls-in-california.html

California drought puts spotlight on water theft
http://www.sacbee.com/2014/03/23/6259597/california-drought-puts-spotlight.html



[headlines]
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“Gimme that Wine”

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

Bordeaux 2013 Prices Must Fall "At Least 30%"
http://www.wine-searcher.com/m/2014/03/bordeaux-2013-prices-must-fall-at-least-30

Can Wine Be Funny? A Conversation with Randall Grahm

Wine-Lovers Will Treasure Madeira

Napa worker allegedly steals $400,000 in wine
http://blog.sfgate.com/crime/2014/03/19/napa-worker-allegedly-steals-400000-in-wine/


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

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

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

Winery Atlas
http://www.carterhouse.com/atlas/\

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


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

This Day in History

    1663 - Charles II of England awarded lands known as Carolina in America to eight members of the nobility who assisted in his restoration.
    1664 - Roger Williams was granted a charter to colonize Rhode Island.
    1765 - Britain enacted the Quartering Act, requiring American colonists to provide temporary housing to 10,000 British soldiers in public and private buildings.
    1776- one week after the British troops under General William Howe evacuated Boston, General George Washington wrote a letter to the Continental Congress. General Washington expressed his "surprize and disappointment" that the British fleet had not departed the harbor and described its various exploits while still in the region.
http://memory.loc.gov/ammem/today/mar24.html
    1788-In a popular referendum, Rhode Island rejected the new Constitution by a vote of 2,708 to 237. The state later (May 29, 1790) ratified the Constitution and ratified the Bill of Rights June 7, 1790.
    1825- American colonization of a new state was authorized by a law passed by the new Mexican state of Texas-Coahuila. In 1823, Stephen Austin had been given authorization by law and decree to bring settlers into the region, but in 1824, a new republic was established in Mexico and a new constitution enacted. The new law gave the states conditions for colonization. This was the start of “Texas.”
    1837-Canada legally recognizes Black suffrage, thus begins one of the Underground Railroads final destination toward freedom.
http://www.duke.edu/~mahealey/black_canada.htm
http://www.dal.ca/~acswww/dalbh.html
http://www.npca.org/walk.html
http://www.germantown.k12.il.us/html/RAILROAD.html
    1852 -the Susquehanna River ice bridge at Havre de Grace, Maryland began to break up after 40 days of use. A total of 1738 loaded freight cars were hauled along the rails laid on the ice.
    1855-Andrew W. Mellon, American financier, industrialist, government official (Secretary of the Treasury), art and book collector was born at Pittsburgh, PA. Died Aug 27, 1937, at Southampton, NY.
    1874-Harry Houdini, Magician and escape artist. Born at Budapest, Hungary, died at Detroit, MI, Oct 31, 1926. Lecturer, athlete, author, expert on history of magic, exposer of fraudulent mediums, and motion picture actor. Was best known for his ability to escape from locked restraints (handcuffs, straitjackets, coffins, boxes and milk cans). Anniversary of his death (Halloween) has been the occasion for meetings of magicians and attempts at communication by mediums.
http://lcweb2.loc.gov/ammem/vshtml/vshdini.html
    1883 - Long distance telephone service began between Chicago and New York.
    1898 - The first United States automobile was sold. Mining engineer Robert Allison paid $1,000 for a Winton.
    1898- Dorothy Constance Stratton, born at Brookfield, MO, was instrumental during WWII in organizing the SPARS, the women's branch of the US Coast Guard (authorized Nov 23, 1942). Under Lieutenant Commander Stratton's command, some 10,000 women were trained for supportive noncombatant roles in the Coast Guard. SPARS was dissolved in 1946 after the war had ended. Stratton worked with many women's organizations, including the Girl Scouts, as national executive director in the 1950s.
    1900-Birthday of trumpet player June Clark, Long Branch, NJ.
    1904-Pianist Pete “Boogie-Woogie” Johnson Birthday
http://www.jazzbymail.com/artists/johnson_p.html
http://www.colindavey.com/BoogieWoogie/articles/pj.htm
    1912 - Residents of Kansas City began to dig out from a storm that produced 25 inches of snow in 24 hours. The snowfall total was nearly twice that of any other storm of modern record in Kansas City before or since that time. A record 40 inches of snow fell during the month of March that year, and the total for the winter season of 67 inches was also a record. By late February of that year, Kansas City had received just six inches of snow. Olathe, KS received 37 inches of snow in the snowstorm, establishing a single storm record for the state of Kansas.
    1919-Lawrence Ferlinghetti, poet, author (Coney Island of the Mind), founder of City Lights Bookstore in San Francisco, was born Yonkers, NY. Perhaps best known for opening a bookshop called the City Lights Pocket Book Shop. He described City Lights "as a place you could go in, sit down, & read books without being pestered to buy something." The store became a home for the Beat Generation of poets and writers, and Ferlinghetti also turned it into a publishing house. It was the first to publish Allen Ginsberg's poem “Howl”. City Lights published it in 1957 and Ferlinghetti was immediately arrested on obscenity charges. He won the trial and went on to publish the writings of William S. Burroughs, Jack Kerouac, and Paul Bowles. He wrote a pair of novels, two volumes of plays, and over 10 books of poetry. Some say it was the birth of “Beatniks,” a term coin by the late columnist Herb Caen. Today it is a popular tourist attraction in North Beach.


http://www.charm.net/~brooklyn/People/LawrenceFerlinghetti.html
http://recollectionbooks.com/siml/library/FerlinghettiWhite.htm
http://www.citylights.com/    1905 -the temperature at Valley Head, Alabama fell to 18 degrees below zero. This was the coldest temperature ever recorded in Alabama until January 1966.
    1922-Singer King Pleasure born Oakdale, Tenn. Best known for his 1953 hit, “Moody's Mood for Love.” Died 1992.
http://www.amazon.com/exec/obidos/ASIN/B000000YC6/ref%3Dnosim/
lksmsubsite
sub-mu-asin-20/104-0082188-8675910
http://win-ss1.radiomoi.com:8080/rm/info/?showkey=artists&artist_id=17991
    1922-- Birthday of Dave Appell, arranger for big bands: Benny Carter, Earl ‘Fatha´ Hines; TV music director, record producer, singer, songwriter, musician with Dave Appell and the Applejacks.
    1928-Birthday of tenor sax player Evelyn Young, Memphis, TN
    1929-Dr. Roger Bannister, distance runner, broke the 4-minute-mile record in 1954, born Harrow, Middlesex, England.
    1930 - The recently discovered ninth planet was given the name Pluto.
    1932-Birthday of piano player Dave Mackay, Syracuse, NY
http://www.pricegrabber.com/search_getprod.php/masterid=517498001/
ut=43a1166ef26dea3a

    1936-The Longest NHL Game. Mud Bruneleau of the Detroit Wings scored at 16:30 of the sixth overtime period to end the longest game in National Hockey League history. The goal gave the Red Wings a 1-0 victory over the Montreal Maroons in a Stanley Cup semifinal game. Detroit won the series, three games to none, and went on to defeat the Toronto Maple Leafs in the finals.
    1941 - Glenn Miller started work on his first film for 20th Century Fox, "Sun Valley Serenade".
    1942-Birthday of Jesus Maria Alou, former baseball player, born Haina, Dominican Republic.
    1944 - The first Civilian Exclusion Order issued by the Army is issued for the Bainbridge Island area near Seattle. The forty-five families there are given one week to prepare. The island's oldest, continuously operating farm, established in 1928, is owned by 75-year-old Akio Suyematsu, who grows strawberries, pumpkins and Christmas trees. World War II brought one of the saddest chapters of island history: the nation's first forced evacuation of residents of Japanese ancestry, most of them American citizens. On President Roosevelt's authority the army forced some 240 people, including Suyematsu's family, to leave -- mainly for California internment camps. They received a week's notice to dispose of their property. By the end of October, 108 exclusion orders would be issued, and all Japanese Americans in Military Area No. 1 & the California portion of No. 2 were incarcerated.
http://seattlepi.nwsource.com/neighbors/bainbridge/hist26.html
http://www.historylink.org/output.CFM?file_ID=3111
http://www.janm.org/clasc/chronology.htm
http://www.janet.org/janet_history/niiya_chron.html    1945-Billboard magazine, the music trade publication, began the pop music record chart this day. The No. 1 hit in the pop chart was Nat King Cole's “King Cole Trio.”
    1949- The Academy of Motion Pictures Arts and Sciences gave Oscars to a father and son, the only time this has happened. Walter Houston won the best supporting actor award, and his son, John Huston, won the award for the best director, both for “The Treasure of Sierra Madre”. The film also received the award for the best screenplay. Rewrite –structure]Ironically, the first time a husband and wife win Oscars, this has happened, the same year, Oscar winners who were husband and wife: Sir Laurence Oliver for his performance in “Hamlet”, beating out Humphrey Bogart, and his wife, Vivien Leigh, who received hers on February 29, 1940, for her performance in “Gone with the Wind.” On March 20, 1952, she received a second Oscar for her part as Blanche DuBois in “A Streetcar Named Desire.”
http://www.infoplease.com/ipa/A0148405.html
    1949- Steve Lang, bass guitarist with the Canadian rock group April Wine, was born. Lang joined the band in 1975, replacing Jim Clench. Lang was with April Wine when they shared the stage with the Rolling Stones at the El Mocambo nightclub in Toronto in 1977. April Wine was Canada's leading touring band of the 1970's, but the band failed to have much of an impact in the U.S.
    1951-Birthday of former Seattle Seahawks and 49er Head Coach Dennis Erickson, born Everett, WA.
http://en.wikipedia.org/wiki/Dennis_Erickson
    1954-Birthday of cello player Hank Roberts, Terre Haute, IN.
http://avalon-management.freeyellow.com/HankBio.html
http://www.scaruffi.com/avant/roberts.html
    1955---Top Hits
The Ballad of Davy Crockett - Bill Hayes
Sincerely - McGuire Sisters
Darling Je Vous Aime Beaucoup - Nat ‘King' Cole
In the Jailhouse Now - Webb Pierce
    1955 - On Broadway, Tennessee Williams's Southern drama, “Cat on a Hot Tin Roof”, staged by Elia Kazan, debuted to mixed reviews. It went on to 694 performances.
    1958 - In Memphis, Tennessee, Elvis Presley reported to local draft board 86, where he became US 53310761. Since Elvis was now ‘government property' as he served his time in the Army, Uncle Sam stood to lose approximately $500,000 in taxes each year Private Presley was in the Army. After receiving the standard GI haircut, he was quoted as saying "Hair today, gone tomorrow." Presley had actually received his draft notice the previous December, but was granted a 60- day deferment to complete the movie "King Creole." Some say rock 'n' roll died when Presley entered the service. Certainly, after he was discharged in March 1960, Presley himself was no longer a rock 'n' roll performer. He became primarily a movie star and middle-of-the-road singer, not touring, but performing mostly in Las Vegas, Nevada.
    1959- The re-formed Drifters' "There Goes My Baby" is released on Atlantic Records. Not only is it the group's first disc with new lead singer Ben E. King replacing the departed Clyde McPhatter, but joining the production team are Jerry Lieber and Mike Stoller.
    1960 - A United States appeals court ruled the novel, "Lady Chatterley’s Lover", was not obscene and as such, could be sent via the mail.
    1962-Birthday of pianist Renee Rosnes in Saskatchewan Canada
http://reneerosnes.com/
http://jazzdiscography.com/Artists/Rosnes
    1963---Top Hits
Our Day Will Come - Ruby & The Romantics
The End of the World - Skeeter Davis
He's So Fine - The Chiffons
Still - Bill Anderson
    1967--SINGLETON, WALTER K.  Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps, Company A, 1st Battalion, 9th Marines, 3d Marine Division. Place and date: Gio Linh District, Quang Tri Province, Republic of Vietnam, 24 March 1967. Entered service at: Memphis, Tenn. Born: 7 December 1944, Memphis, Tenn. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. Sgt. Singleton's company was conducting combat operations when the lead platoon received intense small arms, automatic weapons, rocket, and mortar fire from a well-entrenched enemy force. As the company fought its way forward, the extremely heavy enemy fire caused numerous friendly casualties. Sensing the need for early treatment of the wounded, Sgt. Singleton quickly moved from his relatively safe position in the rear of the foremost point of the advance and made numerous trips through the enemy killing zone to move the injured men out of the danger area. Noting that a large part of the enemy fire was coming from a hedgerow, he seized a machinegun and assaulted the key enemy location, delivering devastating fire as he advanced. He forced his way through the hedgerow directly into the enemy strong point. Although he was mortally wounded, his fearless attack killed 8 of the enemy and drove the remainder from the hedgerow. Sgt. Singleton's bold actions completely disorganized the enemy defense and saved the lives of many of his comrades. His daring initiative selfless devotion to duty and indomitable fighting spirit reflected great credit upon himself and the Marine Corps, and his performance upheld the highest traditions of the U.S. Naval Service.
    1969-BRYANT, WILLIAM MAUD  Medal of Honor
Rank and organization: Sergeant First Class, U.S. Army, Company A, 5th Special Forces Group, 1st Special Forces. Place and date: Long Khanh Province, Republic of Vietnam, 24 March 1969. Entered service at: Detroit, Mich. Born: 16 February 1933, Cochran, Ga. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Sfc. Bryant, assigned to Company A, distinguished himself while serving as commanding officer of Civilian Irregular Defense Group Company 321, 2d Battalion, 3d Mobile Strike Force Command, during combat operations. The battalion came under heavy fire and became surrounded by the elements of 3 enemy regiments. Sfc. Bryant displayed extraordinary heroism throughout the succeeding 34 hours of incessant attack as he moved throughout the company position heedless of the intense hostile fire while establishing and improving the defensive perimeter, directing fire during critical phases of the battle, distributing ammunition, assisting the wounded, and providing the leadership and inspirational example of courage to his men. When a helicopter drop of ammunition was made to re-supply the beleaguered force, Sfc. Bryant with complete disregard for his safety ran through the heavy enemy fire to retrieve the scattered ammunition boxes and distributed needed ammunition to his men. During a lull in the intense fighting, Sfc. Bryant led a patrol outside the perimeter to obtain information of the enemy. The patrol came under intense automatic weapons fire and was pinned down. Sfc. Bryant single-handedly repulsed 1 enemy attack on his small force and by his heroic action inspired his men to fight off other assaults. Seeing a wounded enemy soldier some distance from the patrol location, Sfc. Bryant crawled forward alone under heavy fire to retrieve the soldier for intelligence purposes. Finding that the enemy soldier had expired, Sfc. Bryant crawled back to his patrol and led his men back to the company position where he again took command of the defense. As the siege continued, Sfc. Bryant organized and led a patrol in a daring attempt to break through the enemy encirclement. The patrol had advanced some 200 meters by heavy fighting when it was pinned down by the intense automatic weapons fire from heavily fortified bunkers and Sfc. Bryant was severely wounded. Despite his wounds he rallied his men, called for helicopter gunship support, and directed heavy suppressive fire upon the enemy positions. Following the last gunship attack, Sfc. Bryant fearlessly charged an enemy automatic weapons position, overrunning it, and single-handedly destroying its 3 defenders. Inspired by his heroic example, his men renewed their attack on the entrenched enemy. While regrouping his small force for the final assault against the enemy, Sfc. Bryant fell mortally wounded by an enemy rocket. Sfc. Bryant's selfless concern for his comrades, at the cost of his life above and beyond the call of duty are in keeping with the highest traditions of the military service and reflect great credit upon himself, his unit, and the U.S. Army.
    1971---Top Hits
Me and Bobby McGee - Janis Joplin
She's a Lady - Tom Jones
Just My Imagination (Running Away with Me) - The Temptations
I'd Rather Love You - Charley Pride
    1972- Twelve years after it was first a #2 hit for Paul Anka, "Puppy Love" by Donny Osmond climbs to #3 and goes gold. The tune also inspires lots of wisecracks about Osmond. Anka wrote the song for his former girlfriend, Annette Funicello, who at Walt Disney’s request, terminated the relationship.
http://www.usatoday.com/story/life/people/2013/04/09/annette-funicello-paul-anka-puppy-love/2066375/
    1973 - Professional track debuted as Kip Keino beat Jim Ryun in the mile run at the International Track Association meet in Los Angeles, California.
    1973-The O'Jays followed their Billboard #3 hit, "Back Stabbers" by topping the chart with "Love Train".
    1974 - North Carolina State beat Marquette to win the NCAA basketball championship.
    1976---Birthday of Peyton Manning, quarterback, born New Orleans, LA
http://en.wikipedia.org/wiki/Peyton_Manning
    1979---Top Hits
Tragedy - Bee Gees
What a Fool Believes - The Doobie Brothers
Heaven Knows - Donna Summer with Brooklyn Dreams
I Just Fall in Love Again - Anne Murray
    1982 -- Five congregations in the eastern San Francisco Bay area became the first to declare themselves publicly as sanctuary churches, in an effort to help refugees from Central America establish themselves in the U.S. during political and military unrest in their native countries.
    1985 - The Golden Raspberry Awards, a parody of the Oscar Awards were presented. The movie, "Bolero" took home the top honors, for John and Bo Derek, who won for worst director and worst actress, respectively.
    1986- The 58th Academy Awards show was held at the Dorothy Chandler Pavilion, Los Angeles. It took three hosts (Alan Alda, Jane Fonda and Robin Williams) to handle the MC duties this time. The Best Picture was "Out of Africa" (Sydney Pollack, producer). It also won Best Director (Sydney Pollack); Best Writing/Screenplay Based on Material from Another Medium (Kurt Luedtke); Best Cinematography (David Watkin); Best Art Direction-Set Decoration (Stephen B. Grimes, Josie MacAvin); Best Sound (Chris Jenkins, Gary Alexander, Larry Stensvold, Peter Handford); and Best Music/Original Score (John Barry). But "Out of Africa" didn't win everything. Other Oscars went to "Kiss of the Spider Woman" (Best Actor: William Hurt); "The Trip to Bountiful" (Best Actress: Geraldine Page); "Cocoon" (Best Supporting Actor: Don Ameche - his first Oscar) and "Prizzi's Honor" (Best Supporting Actress: Anjelica Huston). The award for Best Music/Song was given to Lionel Richie for "Say You, Say Me" from "White Nights". Other memorable movies in 1985 (some Oscar winners, some not): "The Color Purple" (11 nominations - no Oscars), "Back to the Future", "Ladyhawke", "Rambo: First Blood Part II", "Agnes of God", "Silverado" and "Witness
http://www.infoplease.com/ipa/A0149645.html
    1987 - A winter-like storm in the central U.S. produced blizzard conditions from South Dakota to western Kansas. Snowfall totals ranged up to 24 inches at Neligh, NE, with 19 inches at Winner, SD. Winds gusting to 60 mph created twelve foot snow drifts in Nebraska stranding thousands on the highways
    1987---Top Hits
Lean on Me - Club Nouveau
Let's Wait Awhile - Janet Jackson
Nothing's Gonna Stop Us Now - Starship
I'd Still Be Loving You - Restless Heart
    1988 - Thunderstorms developing along a cold front produced severe weather from Minnesota to northeastern Texas. The thunderstorms spawned ten tornadoes, including one which injured five persons near Raymondville, MO
    1989-The tanker Exxon Valdez ran aground at Prince William Sound, leaking 11 million gallons of oil into one of nature's richest habitats.
    1989 - Low pressure off the coast of Virginia brought heavy rain to the Middle Atlantic Coast States, and heavy snow to the Northern Appalachians. Cape Hatteras, NC was soaked with 5.20 inches of rain in 24 hours, and snowfall totals in Vermont ranged up to 12 inches. Winds gusted to 52 mph at New York City.
    1990 - The storm system which produced heavy snow in the Lower Missouri Valley the previous day, spread heavy snow across parts of the Upper Ohio Valley and the Middle Atlantic Coast Region. Snowfall totals of 2.2 inches at Philadelphia and 2.4 inches at Atlantic City were records for the date. Up to six inches of snow blanketed southern Ohio. In the Middle Atlantic Coast Region, snow coated the blossoms of cherry trees which had bloomed in 80 degree weather the previous week.
    1992 - Democrat Jerry Brown upset front-runner Bill Clinton in the Connecticut presidential primary.
    1992 -as of 2:45 am CST, International Falls, Minnesota had recorded 29.5 inches of snow for the month with snow still falling. This set a new monthly snowfall record for February. The old record was 29.0 inches set back in 1911. A new record was also set for winter season snowfall (Dec-Feb) with 68.5 inches. The old record was 67.9 inches set in 1990-91.
    1992 - On this date, a Chicago county circuit judge approved a settlement that meant refunds for thousands of fans of Milli Vanilli. Rob Pilatus and Fab Morvan, the dred-locked German pop duo, had admitted earlier that they had not sung on their Grammy Award-winning album, “My Girl”. They also confessed to lip-synching during their concerts. The two "singers" moved their lips and bodies in music videos and live concerts, while the recorded voices of unknown singers did the actual vocals. Under the settlement, buyers of Milli Vanilli compact discs would be entitled to $3 refunds, and cassette buyers could collect $2 refunds. It was estimated that the settlement could affect as many as 10 million people.
    1994--the Crystal Mountain ski resort in Washington State recorded 65 inches of snow in a 24 hour period, the state record for 24 hour snowfall.
    1996-The first astronaut who was a woman to live in a space station was biochemist Dr. Shannon W. Lucid, 53, of Bethany, OK. This day she transferred from Space Shuttle Atlantis to the Russian space station Mir for a planned five-month stay. It was the first time the shuttle returned to earth with one less person aboard than had been present at the launch. Lucid remained on the station for 188 days, the longest space sojourn by any American and any woman until that time. Her return was delayed more than six weeks by emergency repairs to the booster rockets of the Atlantis and by hurricane. She came home in the Atlantis, which touched down at Edwards Air Force Base, Uroc, CA, on September 26, 1996. 
http://www.spacefame.org/lucid.html
http://www.jsc.nasa.gov/Bios/htmlbios/lucid.html
    1997 – At the Shrine Auditorium, Los Angeles as the Academy of Motion Picture Arts and Sciences (AMPAS) awarded prizes for the best of the movie biz in 1996. Comedian/actor Billy Crystal hosted this 69th awards show. Let's rip into the envelopes and get on with it. Best Picture: "The English Patient" (Saul Zaentz, producer); Best Director: Anthony Minghella for "The English Patient"; Best Actor: Geoffrey Rush for "Shine"; Best Actress: Frances McDormand for "Fargo"; Best Supporting Actor: Cuba Gooding, Jr. for "Jerry Maguire"; Best Supporting Actress: Juliette Binoche for "The English Patient"; Best Music, Song: Andrew Lloyd Webber (music), Tim Rice (lyrics) for "You Must Love Me" from "Evita". And the Oscar goes to ... "The English Patient", "The English Patient", "The English Patient" ... for a total of 9 Oscars.
http://www.infoplease.com/ipa/A0147717.html
    2001- During an exhibition game against the Giants, Diamondback hurler Randy Johnson's fastball hits and instantly kills a dove flying in front of home plate. The bird appears to explode as the National League CY Young winning pitch sends it over catcher Rod Barajas' head.
    2002--Academy Awards. Best Picture: "A Beautiful Mind": Brian Grazer, Ron Howard; Best Actor in a Leading Role: Denzel Washington, "Training Day”; Best Actress in a Leading Role: Halle Berry, "Monster's Ball"; Best Actor in a Supporting Role: Jim Broadbrent, "Iris"; Best Actress in a Supporting Role: Jennifer Connelly, "A Beautiful Mind"; Best Director: Ron Howard, "A Beautiful Mind,
http://www.imdb.com/event/ev0000003/2002?ref_=rto_nom_evh_2002
    2002 -- After a record fifteen nominations, Randy Newman wins his first Oscar award for Best Song: the Monsters Inc. composition "If I Didn't Have You."

NCAA Basketball Champions This Date

    1956 San Francisco
    1962 Cincinnati
    1980 Louisville

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- Radiance Capital, Tacoma, Washington
   Bulletin Board Complaint 
   Purchase Option on EFA, Won’t Return $5,000 S.D.
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  ---Automatic Evergreen Payment---PPR
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