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"Last night we lost a good friend and colleague, Austun Tavis. We are all shocked and saddened that Austun has left us so soon. Please join us in your thoughts and prayers for his wife, family and many friends.
"As many of you know, Austun has been an important leader of our credit team for the past six years. He was a bright, reliable and hardworking hockey player from Grand Rapids, MN. He had an enthusiasm for his work as he did for his life. We will miss him greatly.
"Please bear with us over the next few days as we work through our loss."
Austun Tavis joined the firm as Account Executive, June, 2011; promoted to Funding Coordinator; promoted to Credit Manager, August, 2012. Graduate of Hamline University (2007-2011).
No Longer taking Broker/Discounting Business plus Leasing Companies Out of Business
Companies with an * are no longer in business. The others are companies that were taking broker business, but announced that they no longer are accepting broker business. Many have also down-sized or are managing an existing portfolio.
More details are available in this list by company name:
*ABCO Leasing Inc., Bothell, WA
*ACC Capital, Midvale, Utah (lenders running off portfolio residuals, Leasing News receiving Evergreen non-notification complaints, demanding 12 more monthly payments)
Advantage Business Capital, Lake Oswego, Oregon
AEL Financial, Buffalo Grove, Illinois
(No longer taking new broker business)
Agility Solutions Corp., Prescott, Arizona
Allegiant Partners, San Rafael, California
Alliance Financial, Syracuse, New York
*Alternative Capital, Apollo Beach, Florida
*AMC Funding, Charlotte, North Carolina
American Bank Leasing, Alpharetta, Georgia
*American Equipment Finance, Warren, New Jersey
Balboa Capital, Costa Mesa, California
*Bank of West Indirect Leasing, Dublin, California
Bank of the West Leasing Indirect, San Ramon, California
(Require high volume, successful brokers only)
*Bank Midwest Leasing, Overland Park, KS
Bankers Healthcare Group, Weston, FL
*BBVA Compass Equipment Leasing, Houston, Texas
*Blackstone Equipment Financing, Orange, California
*Capital One Equipment Finance, Towson, Maryland
*CapitalSource Healthcare Finance, Chevy Chase, Maryland
*CapNet, Los Angeles, California
*C and J Leasing Corp, Des Moines, Iowa
*Carlton Financial Corporation, Wayzata, Minnesota
*Chase Industries, Inc., Grand Rapids, Michigan
*Chesterfield Financial, Chesterfield, Missouri
CHG-MERIDIAN U.S. Finance, Ltd, Woodland Hills, CA
(Sales Management focuses very selectively on certain brokers.)
*Churchill Group/Churchill Leasing, Jericho, NY
CIT Group (limited)
Columbia Bank Leasing, Tacoma, WA
*Columbia Equipment Finance, Danville, California
Commercial Equipment Lease, Eugene, Oregon
Concord Financial Services, Long Beach, California
*Court Square, Malvern, Pennsylvania
*Creative Capital Leasing Group, LLC, San Diego, CA
Crossroads Equipment Lease & Finance, Rancho Cucamonga, Ca
Direct Capital, Portsmouth, New Hampshire
Diversified Financial Service, Omaha, NE
* Dolsen Leasing, Bellevue/Yakima, Washington
Equipment Finance Partners, a division of Altec, Birmingham, Alabama
Evans National Leasing, Inc., Hamburg, NY
Enterprise Funding, Grand Rapids, Michigan
Enverto Investment Group, LLC, West Los Angeles, California * Evergreen Leasing, South Elgin, Illinois
*Excel Financial Leasing, Lubbock Texas
*First Corp.(IFC subsidiary), Morton Grove, Illinois
First Federal Financial Services, Inc., Menomonee Falls, Wisconsin
First Republic Bank, San Francisco, CA
Frontier Capital, Teaneck New Jersey
*GCR Capital, Safety Harbor, Florida
GE Capital, Conn (limited)
Global Funding LLC., Clearwater, FL
*Greystone, Burlington, MA
*Heritage Pacific Leasing, Fresno, CA
*Hillcrest Bank Leasing, Overland Park, KS (Parent bank sold)
Huntington Equipment Finance, Vendor Finance Group, Bellevue, Washington
*IFC Credit Corp., Morton Grove, Illinois
Irwin Financial (Irwin Union Bank), Columbus, Indiana
Irwin Union Bank, F.S.B. (Louisville, Kentucky)
Lakeland Bank, Montville, NJ
LaSalle Systems Leasing
*Latitude Equipment Leasing, Marlton, New Jersey
*Leaf Specialty Finance, Columbia, South Carolina
*LEAF Third Party Funding, Santa Barbara, Ca.
Lombard, part of Royal Bank of Scotland, worldwide
M&T Credit (Bank)
Manufacturer's Lease Plans, Inc., Phoenix, Arizona
*MarVista Financial, Villa Park, California
*MericapCredit, Lisle, Illinois
*Meridian Healthcare Finance, San Diego, California
Merrill Lynch Financial
Midwest Leasing Group, Livonia, Minnesota
*Mount Pleasant Capital, Wexford, PA
National City, Cleveland, Ohio
*Navigator (Pentech subsidiary) San Diego, California
OFC Capital, Roswell, Georgia
Old National Bank, Evansville, Illinois
*Pentech Financial, Campbell, CA
*PFF Bancorp, Inc, Pomona, CA
Pinnacle Business Finance, Fife, Washington
*Pioneer Capital Corporation, Addison, Texas
PredictiFund, a subsidiary of Capital Access Network, Inc
*Podium Financial Group, Inc.,Costa Mesa, CA
Popular Finance, St. Louis, Missouri
Puget Sound Leasing, Seattle, Washington
Radiance-Capital, Tacoma, WA
Rational Technology Solutions, Rolling Meadows, IL
*Reliant National Finance, Jacksonville, Florida
Sandy Springs, Olney, MD
*Securities Equipment Lsg. (SEL, Inc.), Glendora, CA
*Select Equipment Leasing Co., Concord, CA
* Sharpe Financial Network, Phoenix, Arizona
Sovereign Bank, Melville, New York
Specialty Funding, Albuquerque, NM
*Studebaker-Worthington Leasing, Corp., Jerico, NY
(part of sale from Main Street Bank to Ascentium Capital)
Sun Trust Equipment Finance & Leasing, Baltimore, Maryland
*SunBridge Capital, Mission, Kansas
Suncoast Equipment Funding Corp., Tampa, Florida
TCF Equipment Finance, Minnetonka, Minnesota
TechLease, Morgan Hill, California
*Tennessee Commerce Bank, Franklin, Tennessee
*Triad Leasing & Financial, Inc., Boise, Idaho
*TriStar Capital, Santa Ana, California
*Union Capital Partners, Midvale, Utah
US Bank, Manifest Funding, Marshall, Minnesota
(new requirement: large yearly funding)
US Bank, Middle-Market, Portland, Oregon
Velocity Financial Group, Rosemont, Illinois
VenCore, Portland, Oregon (former company Len Ludwig)
*Vision Capital, San Diego, California
Wachovia Bank Leasing
*Warren Capital, Novato, California
*Washington Mutual Financial
Western Bank, Devils Lake, ND
*Westover Financial, Inc., Santa Ana, California
FDIC-Insured Institutions Earn $43.7 Billion in 4th Quarter Community Bank Net Income Rises to $5.3 Billion
Quarterly Industry Net Income is 7.7 Percent Higher Than a Year Earlier
Full-Year 2016 Industry Earnings Rise to $171.3 Billion
Community Bank Revenue and Loan Growth Outpace Industry
Martin J. Gruenberg Chairman, FDIC
“The banking industry had another largely positive quarter.
Nevertheless, the industry continues to face challenges.”
-- FDIC Chairman Martin J. Gruenberg
### Press Release ############################
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43.7 billion in the fourth quarter of 2016, up $3.1 billion (7.7 percent) from a year earlier. The increase in earnings was mainly attributable to an $8.4 billion (7.6 percent) increase in net interest income. Financial results for the fourth quarter of 2016 are included in the FDIC's latest Quarterly Banking Profile released today.
Of the 5,913 insured institutions reporting fourth quarter financial results, 59 percent reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the fourth quarter fell to 8.1 percent from 9.6 percent a year earlier.
“Revenue and net income were higher, loan balances grew, asset quality improved, and the number of unprofitable banks and ‘problem banks’ continued to fall,” Gruenberg said. “Community banks also reported solid results for the quarter and year with strong net income, revenue, and loan growth.
“Nevertheless, the operating environment for banks remains challenging. Low interest rates for an extended period have led some institutions to reach for yield, which has increased their exposure to interest-rate risk, liquidity risk, and credit risk. Banks must manage risks prudently to ensure that industry growth is on a long-run, sustainable path.”
Highlights from the Fourth Quarter 2016 Quarterly Banking Profile
Quarterly Industry Net Income is $3.1 Billion Higher Than a Year Earlier: Quarterly earnings were 7.7 percent higher than in the fourth quarter of 2015, as the average return on assets rose to 1.04 percent from 1.02 percent a year earlier. Revenue growth helped propel quarterly earnings. Net operating revenue – the sum of net interest income and total noninterest income – was $181.8 billion, an increase of $7.9 billion (4.6 percent) from a year earlier.
Full-Year 2016 Earnings Rise to $171.3 Billion: Full-year earnings for the banking industry rose $8 billion (4.9 percent) compared to full-year 2015. Net operating revenue was $29 billion (4.2 percent) higher than in the previous year, while itemized litigation expenses at a few large banks were almost $3 billion lower than in 2015. Loan-loss provisions rose to $47.8 billion in 2016, an increase of $10.7 billion (28.8 percent) from 2015.
Community Bank Revenue and Loan Growth Outpace Industry: The 5,461 insured institutions identified as community banks reported a $508 million (10.5 percent) increase in net income in the fourth quarter. Total loan and lease balances at community banks rose $22.4 billion during the fourth quarter. During the past 12 months, loans and leases at community banks rose $115.7 billion (8.3 percent). Net operating revenue of $23 billion at community banks was $1.6 billion (7.6 percent) higher than in the fourth quarter of 2015.
Total Loan Balances Rise 5.3 Percent During 2016: Total loan and lease balances increased $72.3 billion (0.8 percent) during the fourth quarter. Credit card balances increased $38.2 billion (5 percent) during the quarter, reflecting seasonal holiday spending, while real estate loans secured by nonfarm nonresidential real estate properties rose $22.8 billion (1.7 percent), and real estate construction and development loans increased $10.1 billion (3.3 percent). Loans to commercial and industrial borrowers declined for the first time in 26 quarters, falling by $7.7 billion (0.4 percent). For the 12 months ended December 31, loans and leases increased $466 billion (5.3 percent).
“Problem Bank List” Shows Further Improvement: The number of banks on the FDIC’s Problem Bank List fell from 132 to 123 during the fourth quarter. This is the smallest number of problem banks in more than seven years and is down significantly from the peak of 888 in the first quarter of 2011. Total assets of problem banks rose slightly from $24.9 billion to $27.6 billion during the fourth quarter.
Deposit Insurance Fund’s Reserve Ratio Rises to 1.20 Percent: The DIF increased $2.5 billion during the fourth quarter to $83.2 billion at the end of December, largely driven by assessment income. The DIF reserve ratio rose from 1.18 percent to 1.20 percent during the quarter. Estimated insured deposits increased 1.4 percent in the fourth quarter. For all of 2016, estimated insured deposits increased 6 percent.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public conﬁdence in the nation’s banking system. The FDIC insures deposits at the nation’s banks and savings associations, 5,913 as of December 31, 2016. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured ﬁnancial institutions fund its operations.
### Press Release ############################
(Leasing News provides this ad as a trade for appraisals
and equipment valuations provided by Ed Castagna)
Vendor Leasing Sales reps
7 tips to keep the competition from stealing your top dealers
Winning over a new dealer is one thing, keeping them is another thing entirely. If you have never lost a good dealer to the competition: (A). You are new to the leasing business, and have not been in it long enough to lose one. (B) You are delusional.
The standards of good service, competitive rates and online systems are the price of entry into the vendor leasing space. These are the minimum expectations all top dealers have of their leasing company. These attributes will only get you in the door, they won’t keep you there.
If you have been in the leasing business for more than a couple of years, you undoubtedly have heard or run into one of your competitor’s legendary sales reps. You know, the ones whose dealers are virtually impossible to steal away and you are positive they must somehow be related by blood.
elow are 7 tips that these legendary sales reps are using to keep a lock on their vendors:
It’s easier to walk away from a business associate than a friendLegendary sales reps have personal relationships with their top dealers. They’ve gotten to know them on a personal level through golf games, company outings and late night dinners. It’s likely they are on a first name basis with the dealer’s spouse, too.
Once, a competitor inquired how my local rep was able to have an unbreakable bond with one of the top dealers in the region. I told him that until he had the level of relationship where he’s sharing a cup of coffee in his underwear with the dealer at 5 a.m. in the morning (at a hunting camp), he would not have a chance at taking the business from my rep.
You may not have to go to those lengths to have a personal relationship with your dealers but you should be making a concerted effort to spend time with them in a non-business setting like informal dinners and golf.
Part of the vendor family
Top sales reps are considered part of the vendor’s family, just like everyone else who works there. Expect to see them at the dealer’s company Christmas party, sales meetings and the annual open house.
Longevity in the territory
Dealers, for the most part, do not like changes at their leasing company and are more likely to stick with a vendor leasing sales rep that doesn’t jump around from company to company. (I know many veteran vendor leasing sales reps that have been with the same company, in the same territory for over 10 years.)
Know the competition
Top vendor leasing reps know everything there is to know about their competition. Their most loyal dealers send them the competition’s rates each month without being asked and they also relay any other new information, like program and sales rep changes.
Develop a coach/mentor/mole
There are a lot of different names used for this person by various sale training courses, but it is one of the most important relationships legendary sales reps have at a vendor’s company. (A coach/mentor/mole is someone that will give you the inside scoop to what’s going on in the dealership. It can be their top sales rep, the lease administrator or just about anyone that has credibility and visibility into the dealer’s organization.)
Don’t take the business for granted
The best sales reps are accessible to their dealers 24/7 (I have known sales reps that refuse to give out their mobile numbers because they did not want to be ‘bothered’ by dealers in non-business hours). They take all complaints seriously, no matter how minor, and work to resolve them immediately. They know that there is no easier way to lose a dealer then to have them mad at you when a competitor just happens to call that day.
Get to know the new players
High level new players like a CFO or VP of Sales will likely have their own special leasing relationships developed at their last job. Veteran leasing sales reps get to know these new players ASAP. (I have found that meeting with them and the dealer principal, at the same time, sends a clear message that you are preferred funding source).
Note: I use the terms vendor, dealer, customer and partner interchangeably. Most vendor leasing companies use one or more of these terms to describe the party that sends the leasing volume via a third party leasing arrangement (leasing company; dealer; lessee).
He has a rich background, serving as
DLL Country Sales Manager;
Vice President, Syndication Buy Desk;
Vice President, Field Sales, Wells Fargo Capital Finance;
Managing Director, Vendor Leasing, US Bank;
Director of Sales, US Bancorp (formerly BCL). https://www.linkedin.com/in/jim-acee-578a03b
Commercial Capital Training is headquartered in Albany, New York. The group also has three offices, in New York City, Rochester, New York and Orlando, Florida, with 30 employees, according to their web site. The company is also proud to have made Inc. Magazine’s “Inc. 5000” last year as one of America’s fastest growing companies.
Founded by Kris Roglieri, CEO, and according to the web site, classes
are taught by him and over 45 participating lenders. The group has educated “600 finance entrepreneurs the ability to own and operate their very own commercial finance businesses.” Mr. Roglieri also owns two commercial lending institutions which graduates can work with: Durham Commercial Capital which serves as a direct lender as a non-recourse factoring institution and Prime Commercial Lending, which serves as a direct lender funding merchant cash advances and commercial real estate transactions.
There are many testimonials on the website. Leasing News contacted
several at random, and here is a typical response received:
"I am a grad and I am a Raving Fan of the team at CCTG. I graduated in December 2013 and they still support me today just as they did when I first went through the training. Our company would not be where we are today if not for the training and support provided from the team at CCTG."
Alternative Capital Funding Solutions
Commercial Capital Training Offers Two Programs:
Signature Gold Program - $25,000
“A 7-day Comprehensive Training Held in Our Albany, NY Headquarters Taught by Our Founder and CEO, Kris Roglieri… Our commercial finance training course and finance entrepreneur start-up program has been established in a time when banks are lending less to business owners and alternative funding businesses are emerging to fill the lending gap that exists among businesses of all sizes.0
Elite Platinum Package - $65,000
“Some of the highlights to this package are real time exclusive leads every month for the first 2 years of your business, marketing for the life of your business and a private label financing product that your company can offer. All of this will be managed and executed by a marketing company that truly knows your business. In fact, it is the world’s only dedicated finance-specific digital marketing agency, The Finance Marketing Group. http://finance http://www.commercialcapitaltraining.com/finance-program/your-investment/platinum-program/marketing.com/
Roglieri has also founded “an association for today's modern commercial loan broker called the National Alliance of Commercial Loan Brokers (NACLB). Unlike other conferences and associations, the NACLB is focused on today’s modern diversified commercial loan broker promoting several business financing products as well as commercial real estate finance products. We had our first ever conference last year at the Red Rock Casino in Las Vegas and over 400 commercial loan brokers attended and was very successful for a first time conference.” www.naclb.net
Global Financial Training Program Over 35 Years of Experience Financing Businesses
Program Cost: $19,950.00
President & CEO
In 2001, Global Leasing founder Phil Dushey created a new company to train independent entrepreneurs who want to enter the lucrative field of business financing. Global Financial Training Program teaches all aspects of finance including Equipment Leasing, Accounts Receivable Financing, Cash Advance, Commercial Real Estate, SBA Loans and much more. Phil’s students have found great success with his program.
Mr. Dushey is a founding member of the National Association of Equipment Leasing Brokers. He has been a member and speaker at many leasing organizations for several years. He is also a founding member of the leasing news advisory board.
Global Financial Training Program provides students with everything they need to start making money immediately after four days of training. As a full-service finance company you will provide a valuable service for business owners that have difficulty getting financing from their local banks. The banks are turning down over 90% of business loan applications and you can approve at least 50% of the turndowns. After the training at their offices in New York City trainees are instantly approved with over 25 lenders, get a custom designed website, stationery package, 1000 leads and enough marketing to have their phones ringing the first week after the training and much more... It's easier than you think to fulfill your dreams of independence, living the life you deserve and enjoying the prestige of owning your own company.
You don't need prior experience. All you need is the desire to be your own boss, the ability to learn, good people skills, and a passion to succeed and make a lot of money.
How much, is up to you...
President & CEO
Global Financial Services
1 State Street, 21st Floor
New York NY 10004
The Global Group of independently owned companies are:
Global Financial Services | www.globaleasing.com
We have been actively providing financial services for 35 years
Global Church Financing | www.globalchurchfinancing.com
One of the largest independent companies financing equipment for churches nationwide
Global Financial Training Program | www.globalfinancialtrainingprogram.com
The oldest and most comprehensive training program for people who want to own their own finance company
NAELB Leasing School teaches entrepreneurs how to own, operate and succeed in their own equipment leasing and finance brokerage business.
The National Association of Equipment Leasing Brokers is the only major leasing association to offer an equipment leasing program to become a leasing broker.
The National Association of Equipment Leasing Brokers offers the most comprehensive specialty financial educational symposium in the industry, providing:
A week long intensive hands-on learning experience with after-hours discussions of real-world leasing situations and valuable course materials including handbooks, industry software and more
Real-world training by experts in the field (our instructors have been active in the industryforatleast25years each)
Training week concludes with FREE admission to the following NAELB Conference, offering the perfect opportunity to expand your networking with lenders, industry service providers and fellow brokers who are eager to provide support as you develop your business
One full year of mentoring from experienced NAELB brokers who help you navigate the pitfalls and point you toward business solutions
One full year of membership in the NAELB, the nation’s largest leasing broker association formed by brokers for brokers, and use of all member benefit programs
Graduates are able to deal directly with multiple quality funding sources -‐ no obligation to split fees with the school or school mentors
Although many other schools spend less than 1 day discussing the ins and outs of leasing, we spend approximately 40 hours focused on commercial equipment leasing in its modern variations. We don't take any of our students' time discussing commercial mortgages, LBO's, SBA loans or any of the dozens of other financial products taught at other training programs.
The standard class price is $18,950. Hotel, airfare allowance, meals, NAELB membership, COURSE MATERIALS, INDUSTRY TOOL KITS, and mentorship, are all included at this price. A premium package, priced at $28,450, includes 5 options selected by the student from a menu of available upgrades. We offer a $2,000 discount for 'early bird' registration (60+ days in advance of the selected class). Interested students should call 855-411-ELBS to inquire about other discounts which may be available.
For more information, please visit www.NAELBSchool.com or call 855‐411‐Equipment Leasing Broker School (3527)
Wheeler Business Consulting L.L.C. provides training and continuous support to individuals seeking to enter the leasing/financing industry. The leasing/financing industry provides much needed funds to businesses looking to acquire essential equipment. Entrepreneurs nationwide are originating equipment financing and leasing transactions assisting small, medium and large companies. It is estimated that 80% of all businesses have leased equipment and that nearly one-third of all equipment purchased by corporations is funded by independent finance and leasing agreements.
There are tremendous opportunities to enter the leasing/financing industry. There are few barriers to entry. Individuals who are properly trained, who are networked with local, regional and national funding sources can arrange transactions for their corporate clients in the range of a few thousand dollars to multi-million dollars.
As with most businesses, the establishment of a lease brokering operation is a long term proposition. However, with the proper training, support and encouragement, an individual can start making above average incomes relatively quickly. Within two to five years an individual should expect to generate an income which is well in the six figure range.
With quality training, individuals will be able to offer consistent, high spirited customer service to their commercial clients. Successful lease brokers can build a business from a small home based operation to a full service office in a relatively short period of time.
My goal is to share my thirty plus years of industry experience with others who are serious about learning and succeeding in the leasing/financing industry.
Bruce Lurie, President, Douglas-Guardian Services Corporation, Houston, Texas, an equipment inspection and collateral management firm established in 1932.
Douglas-Guardian Services Corporation
14800 St. Mary's Lane, Suite 200
Houston, Texas 77079
Bruce Lurie joined the Leasing News Advisory board September 12, 2007 and has been an active participant.
Since July 1995, Bruce Lurie has been president of Douglas-Guardian Services Corporation, the original equipment inspection and collateral management firm established in 1932.
When not chasing down collateral to inspect throughout the US or Canada, Bruce enjoys spending time with his wife Martha, his 3 young grandchildren and learning survival skills driving with his 16 year old daughter Danielle. Bruce is an avid jogger and former triathlon fanatic.
Prior to Douglas Guardian, his experience includes fifteen years with Brown and Root, Inc., a multi-billion dollar engineering and construction company. Primary areas of responsibility have included project development, project finance, sales, marketing, strategic planning and executive management. Extensive training in quality deployment and team building techniques. BS, Civil Engineering, BS Engineering Management, and MBA from Tulane University, New Orleans, LA.
Prosper Marketplace Closes $5 Billion Loan Purchase
Agreement of Loans with Consortium of Institutional Investors
SAN FRANCISCO––Prosper Marketplace, a leading online consumer lending marketplace, announced that it has closed a deal with a consortium of institutional investors to purchase up to $5 billion worth of loans through the Prosper platform over the next 24 months. The investors in the consortium are affiliates of each of New Residential Investment Corp., Jefferies Group LLC and Third Point LLC, and an entity of which Soros Fund Management LLC serves as principal investment manager. The consortium will also earn an equity stake in the company based on the amount of loans purchased, further aligning the group with Prosper’s future growth and success. Warehouse financing of up to $1 billion will be provided by a syndicate of lenders including Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley.
“We’re very pleased to be working with this consortium of investors, and believe they will be great long-term partners as we continue to build a large-scale business,” said David Kimball, CEO, Prosper Marketplace. “This deal gives us the funding stability and additional capital markets expertise we need to continue to grow our marketplace and achieve profitability in 2017.”
Prosper has maintained positive momentum since the second half of 2016, with monthly loan originations growing steadily since July. In addition, the Prosper loan portfolio is delivering solid returns to its institutional and individual investors, with an estimated net return of 7.86% for January 2017. Prosper continues to diversify its investor base, and is focused on bringing new banks and other institutional investors onto the platform.
Financial Technology Partners (FT Partners) served as strategic advisor to Prosper Marketplace and its Board of Directors on this transaction. DV01 will be the loan data agent to the consortium.
About Prosper Marketplace
Prosper’s mission is to advance financial well-being. The company’s online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Borrowers get access to affordable fixed-rate, fixed-term personal loans, and investors have the opportunity to earn attractive returns via a data-driven underwriting model. To date, over $8 billion in personal loans have been originated through the Prosper platform for debt consolidation and large purchases such as home improvement projects, medical expenses and special occasions.
Prosper launched in 2006 and is headquartered in San Francisco. The lending platform is owned by Prosper Funding LLC, a subsidiary of Prosper Marketplace. Loans originated through the Prosper marketplace are made by WebBank, member FDIC. Visit www.prosper.com and follow @Prosperloans to learn more. Prosper notes offered by Prospectus.
1. Estimated return on January 2017 production is 7.86% according to the Prosper Performance Update: January 2017
Series Review by Leasing News' Fernando Croce
"Big Little Lies" (HBO)
David E. Kelley is no stranger to TV. As writer and producer since the early 1990s, he has been involved with a long string of successful series, ranging from “L.A. Law” and “Picket Fences” to “Ally McBeal” and “Boston Public.” With his newest, “Big Little Lies,” he makes his debut in the prestigious realm of HBO in a comedy-drama distinguished by bold storytelling and a truly first-rate cast. It also doesn’t hurt that there’s critically acclaimed talent behind the screen, namely Canadian filmmaker Jean-Marc Vallée, whose previous works have brought Oscars for Matthew McConaughey and Jared Leto (“The Dallas Buyers Club”) as well as a nomination for Reese Witherspoon (“Wild”).
Indeed, “Big Little Lies” is something of a reunion between the director and his “Wild” stars, Witherspoon and Laura Dern. Set in the affluent corners of Monterey, California, the show focuses on the individual (and sometimes intertwined) dramas of a group of women, whose prosperous veneer cloaks inner turmoil. There’s Madeline (Witherspoon), who’s dealing with simultaneous crises on just about every level—from personal insecurities to unappreciative children to a listless husband. Dern, who played Witherspoon’s mother in the Vallée film, here stars as her nemesis, Renata, a business executive who watches over her corporation and daughter with equal ruthlessness. There’s also Madeline’s best friend Celeste (Nicole Kidman), a former attorney with secrets of her own. Finally, there’s the young and mysterious Jane (Shailene Woodley), a struggling single mother who finds herself in their clique.
It may sound like a retread of “Desperate Housewives,” but the pilot episode quickly adds a dash of mystery: In between the protagonists’ spats and power plays, there is a murder in the local elementary school which mobilizes the police and threatens to spread suspicion. Could one of these prickly women have something to do with it? The whodunit elements, however juicy, are merely a way to keep things moving. Far more than suspense, though, “Big Little Lies” is fascinated with the interactions of these complicated characters, with the emotional storms they bring to events both small and large, and with the bravura performances of its stellar ensemble. More details about the murder are sure to be divulged in upcoming episodes, but one hopes that the series—a comeback for Kelley, new territory for Vallée, and a terrific showcase for these talented actresses—continues to find trenchant drama in domestic details.
She's been well taken care of. Ruby is loyal, loving, affectionate and patient, making a great family dog. Highly intelligent, good-natured, very willing and eager to please. Ruby loves to play. Ruby has an excellent, reliable temperament and are friendly, superb with children and equable with other dogs. She craves human leadership and need to feel as though they are part of the family. She can be easily trained. She has a smooth, short-haired, double coat that is easy to groom. We would like to find her a good home where she put continue being loved. She suffers from allergies from time to time. She will be forever loyal and does o.k off the leash.
Since she is in our Guest Foster Program we do ask that you fill out an application first. You can fill one out online or at our shelter.
Your guide to the right questions and answers in finance. Expert in capital raising, GAAP, acquisitions, lease economics. CPA. MBA.
Information System: North Detroit, MI
INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies.
Seeking consulting projects nationwide.
Finance: New York, NY
Barrett Capital Corporation is a specialty finance company providing equipment leasing, energy efficiency, real estate, corporate finance and advisory services with an emphasis on transactional asset based funding, including funding energy efficiency projects for its own account. In real estate finance Barrett focuses on co-ops, condos and other multifamily properties.
1440 - Martin Alonzo Pinzon (1440-1493), Spanish shipbuilder and navigator and co-owner of the Nina and the Pinta, accompanied Christopher Columbus on his first voyage, as commander of the Pinta. Storms separated the ships on their return voyage, and the Pinta first touched land at Bayona, Spain on this day in 1493, where Pinzon gave Europe its first news of the discovery of the New World, before Columbus's landing at Palos.
1624 - Edward Winslow, governor of the Plymouth Colony in Massachusetts, received cattle imported from Dover, England. Cows, were raised principally for their hides; secondly, for meat; and only very incidentally for their milk.
1633 – Samuel de Champlain reclaimed his role as commander of New France in North America on behalf of Cardinal Richelieu. New France is generally considered most of eastern Canada, the Maritime provinces and the US states of Vermont New Hampshire and Maine.
1638 - The Dutch colonial administrator Peter Minuit arrived at the Rockes” on Christina River, the future site of Wilmington, DE. He built Fort Christina, named in honor of the Swedish queen. He arrived in two Dutch vessels, “Lamar Nyckel” and “Vogel Grip,” with Jan Hendricksen van de Waeter as skipper. Minuit, who was later to establish Patroons and grants of settlement in New York, led an expedition that sailed from Gothenburg, Sweden on November 20, 1637. Another settlement, New Sweden, was built on the Delaware River, near the present site of Trenton, NJ.
1639 - The first document known to have been printed in America was the “Oath of a Free Man,” by Stephen Day Press, Cambridge, MA. It was a one-page sheet that read: “I doe solemnly bind myself in the sight of God, that when I shall be called to give my voice touching any subject of this State, in which Freemen are to deal, I will give my vote and suffrage as I shall judge in mind own conscience may best donce and ten to the publick weal of the body, without respect of persons, or favour of any man.”
1642 - Georgeana (York), Maine, became the first colonial city to incorporate.
1692 - Sarah Good, Sarah Osborne and Tituba were brought before local magistrates in Massachusetts, the Salem Witch trails began and the “witches” were put to death. http://memory.loc.gov/ammem/today/mar01.html
1776 - The first independent government was formed in Charleston, SC. John Rutledge was elected president, Henry Laurens vice president, and William Henry Drayton as chief justice. An army and navy were created, a privy council and an assembly were elected, and the issue of $600,000 of paper money and coins were authorized.
1780 - Pennsylvania became the first U.S. state to abolish slavery (for newborns only). It was followed by Connecticut and Rhode Island in 1784, New York in 1785, and New Jersey in 1786. Massachusetts abolished slavery through a judicial decision in 1783.
1781 - This should be the national holiday, as it commemorates the founding of the United States. A compact made among the original 13 states had been adopted by the Congress on Nov 15, 1777, and submitted to the states for ratification two days later. Maryland was the last state to approve, Feb 27, 1781, but Congress named Mar 1, 1781, as the day of formal ratification. The Articles of Confederation remained the supreme law of the nation until Mar 4, 1789, when the US Constitution went into effect.
1790 - The first US Census was authorized.
1803 - Ohio became the 17th state. The Buckeye State (nicknamed because of the many buckeye trees, the state tree) with Columbus as its capital city, seems to have a penchant for the color red. Its state bird is the cardinal; the scarlet carnation is its flower; the state insect is the ladybug; and the state drink is tomato juice. The state song is "Beautiful Ohio." The word, Ohio, is derived from the Iroquois Indian word meaning ‘great river.' The Ohio River is not as great as the Mississippi, but it is pretty big! Ohio's state motto: With God, all things are possible.”
1810 - Georgetown College was chartered in Washington, D.C., making it the first Roman Catholic institution of higher learning established in the United States.
1845 - President Tyler signs a resolution annexing the Republic of Texas
1864 - Rebecca Lee, received the first formal M. D. degree in the U.S. ever given an African-American woman, from the New England Female Medical College in Boston. Lee received degree 16 years after Elizabeth Blackwell fought her way into the all-male medical establishment. Blackwell then established other women's medical institutions.
1864 - Believing the Confederate capital of Richmond. Virginia to be lightly fortified, President Abraham Lincoln ordered a surprise raid to capture the city and free Union prisoners. Federal troops under General Judson Kilpatrick and Colonel Ulric Dahlgren led the attack but failed when the plan was discovered by Southern forces in the wake of their retreat. Dahlgren was killed and two documents were discovered on his body. The incriminating documents contained plans to burn the city and kill Confederate President Jefferson Davis and his cabinet. Confederate General Robert E. Lee complained to the Union commander, George Meade, which infuriated President Lincoln. War historians have labeled Meade "incompetent," whose indecision cost the Union many lives. As a side note, President Lincoln on March 10th appointed Ulysses S. Grant general in chief, replacing Henry W. Halleck, who systemically began replacing officers who seemed to be composed on "high society" appointments.
1867 - Nebraska became the 37th state. The Cornhusker State, aka the Beef State, aka the Tree Planter State, Nebraska means ‘flat water' in Oto Indian speak. Lincoln is the official seat of Nebraska government. Nebraska's motto: Equality before the law. The western meadowlark holds the honor of being the state bird while the goldenrod takes its place as the state flower. Other state symbols include the cottonwood tree (state tree); the honeybee (state insect); blue agate (state gemstone); whitetail deer (state mammal); mammoth (state fossil); prairie agate (state rock); "Beautiful Nebraska" (state song).
1867 - Howard University, Washington DC, charted. http://www.howard.edu/
1872 - Yellowstone National Park was established. The first area in the world to be designated a national park, most of Yellowstone is in Wyoming, with small sections in Montana and Idaho. It was established by an act of Congress.
1874 - Lawn tennis was introduced by Mary Ewing Outerbridge, who imported rackets and other equipment from Bermuda. A court was laid out at the Staten Island Cricket and Baseball Club, New Brighton, NY to which Miss Outerbridge's family belonged. The first players were members of the family. Within seven years, tennis had become popular and on May 21, 1881, Eugenius H. Outerbridge, Mary Outerbridge's brother, organized the United States Lawn Tennis Association, to which 33 tennis clubs sent delegates.
1875 - Congress passed a Civil Rights Act that would be invalidated by the Supreme Court in 1883.
1890 – The first U.S. edition of Sherlock Holmes, “Study in Scarlet,” was published.
1904 - Birthday of Glenn Miller was born Alton Glenn Miller at Clarinda, IA. American bandleader and composer. He enjoyed great popularity preceding and during World War II. His hit recordings included "Moonlight Serenade," "String of Pearls," "Jersey Bounce" and "Sleepy Lagoon." Major Miller, leader of the US Army Air Force band, disappeared Dec 15, 1944 over the English Channel on a flight to Paris where he was scheduled to give a show. There were many explanations of his disappearance, but 41 years later, in December, 1985, crew members of an aborted RAF bombing said they believed they had seen Miller's plane go down, the victim of bombs being jettisoned by the RAF over the English Channel. Singer Nick Hilscher leads the band that has continued Miller’s music and performs globally. http://www.glennmillerorchestra.com/
1909 - The Pittsburgh Pirates began construction of their new stadium near Schenley Park near the Oakland section of the city. The state-of-the-art stadium was named Forbes Field in honor of John Forbes, a pre-Revolutionary British general. Forbes Field served as the pirates’ home stadium until 1970 when it was replaced by Three Rivers Stadium. Forbes was the scene of Bill Mazeroski’s World series-winning homer in 1960 and of Babe Ruth’s’ final three home runs, one of which was the only one to ever be hit out of the stadium.
1910 - The deadliest avalanche of record in the U.S. thundered down the mountains near Wellington Station, WA, sweeping three huge locomotives and some passenger cars, snowbound on the grade leading to Stevens Pass, over the side and into a canyon, and burying them under tons of snow. The avalanche claimed the lives of more than 100 people. The station house at Wellington was also swept away.
1912 - Isabella Goodwin becomes the first woman detective with the New York City police department.
1914 - Ralph Ellison (d. 1994), American writer and educator, born at Oklahoma City, OK. Author of the acclaimed novel “Invisible Man”(1952), the story of a young black man's struggle for his own identity in the face of rejection from both whites and blacks. Quickly recognized as a classic of 20th-century literature, it won the National Book Award in 1953. While only one of his novels was published, Ellison published collections of his essays, reviews and stories in “Shadow and Act”(1964) and “Going to the Territory”(1986).
1917 - American radio and television personality Dinah Shore (d. 1994) was born Frances Rose Shore at Winchester, TN. In addition to recording many hit songs in the 1930s and 1940s, she was one of the first women to be successful as a television host, beginning in the 1950s with the "Dinah Shore Chevy Show." She received 10 Emmys.
1922 - Birthday of William M Gaines (d. 1992) in The Bronx. “Mad” magazine, especially popular in the 1960s and 1970s, was founded and published by William Gaines. Alfred E. Neuman, the loony, freckle-faced mascot of the publication, became a pop-culture hero…”What? Me, worry?” The magazine, known for its parodies of movies, comic strips and celebrities as well as its satire of politics and social mores, greatly influenced dozens of humorists.
1923 - The first tenant moved into a shopping center as we know it today, designed for cars. It was the Country Club Plaza, Kansas City, MO, built by Jesse Clyde Nichols. The center occupied 40 acres and had 150 stores, a 2,000 seat auditorium, and a parking lot for 5,500 automobiles.
1927 - Harry Belafonte birthday, Harlem, NY. Singer, songwriter, actor, and social activist, he is one of the most successful African-American pop stars in history. He was dubbed the "King of Calypso" for popularizing the Caribbean musical style with an international audience in the 1950s. Belafonte was an early supporter of the Civil Rights Movement in the 1950s and 1960s, and was one of Martin Luther King Jr's confidants. Throughout his career he has been an advocate for political and humanitarian causes. Since 1987, he has been a UNICEF Goodwill Ambassador. In recent years he has been a vocal critic of the policies of both the Bush and Obama presidential administrations. Harry Belafonte now acts as the ACLU celebrity ambassador for juvenile justice issues. http://www.meninmovies.com/harry_belafonte.html http://encarta.msn.com/index/conciseindex/6D/06D0F000.htm?z=1&pg=2&br=1
1928 - Paul Whiteman and his orchestra recorded “Ol’ Man River” for Victor Records. The featured vocalist on the track was 29-year-old Paul Robeson. The song became an American classic.
1930 - Birthday of Benny Powell, Jazz musician, trombone with the Ernie Fields band, Lionel Hampton, Count Basie veteran.
1933 - Bank holidays were declared in six states, effectively preventing runs on bank assets by worried depositors. By March 4, bank panics reached their greatest intensity. At 4:30am, Gov. Herbert H. Lehman of New York declared a state bank holiday; Gov. Henry Honer of Illinois immediately followed suit.
1934 - Primo Carnera beats Tommy Loughran in 15 for heavyweight boxing title
1941 - FM Radio began in the U.S. when station W47NV in Nashville, TN started operations. W47NV was the first commercial FM radio station to receive a license, some 20 years after its AM radio counterpart, KDKA in Pittsburgh. FM stands for ‘frequency modulation´ as opposed to ‘amplitude modulation.’
1947 - In anticipation of signing the team's first black players, Bill Veeck set up a spring training site for his Cleveland Indians near his home in Phoenix. Arizona was chosen because of its relatively tolerant racial climate. During the season, Veeck signed the American league’s first black player, Larry Doby, who trained at that camp.
1948 - Top Hits
“Now is the Hour” - Bing Crosby
“I'm Looking Over a Four Leaf Clover” - The Art Moonie Orchestra
“Ballerina” - Vaughn Monroe
“I'll Hold You in My Heart (Till I Can Hold You in My Arms)” - Eddy Arnold
1950 - The FBI issued their first “Ten Most Wanted.” It was originally a publicity stunt, but two men were caught within the month, based on tips from the public.
1952 - Sam Phillips launches Sun Records by releasing "Drivin' Slow" by 16-year-old saxophonist Johnny London.
1954 - Ted Williams fractures collarbone in the first game of spring training after flying 39 combat missions and crash-landing his jet without injury in Korean War. In his first game back from the war, in 1953, Williams popped a home run.
1954 - US explodes 15 megaton hydrogen bomb at Bikini Atoll
1955 - The Four Lads record their long standing hit "Standing On The Corner."
1956 - Top Hits
“Lisbon Antigua” - Nelson Riddle
“The Poor People of Paris” - Les Baxter
“Why Do Fools Fall in Love” - Frankie Lymon & The Teenagers
“I Forgot to Remember to Forget” - Elvis Presley
1957 - Although nearly 30 other artists turned the song down, the Everly Brothers record "Bye Bye Love," a teen-age love song that was written by 37-year-old Boudleaux Bryant and his 31-year-old wife, Felice.
1957 - Chuck Berry releases "School Days"
1958 - Johnny Mathis, “Johnny's Greatest Hits” is released.
1958 - New Orleans mayor DeLesseps "Chep" Morrison, noting Elvis Presley's arrival in town to begin filming his movie King Creole, officially declares today "Elvis Presley Day" in the city.
1961 - Official establishment of the Peace Corps by President John F. Kennedy's signing of executive order. The Peace Corps has sent more than 153,000 volunteers to 134 countries to help people help themselves. The volunteers assist in projects such as health, education, water sanitation, agriculture, nutrition and forestry. For info: Peace Corps, 1111 20th St NW, Washington, DC 20526.
Web: www.peacecorps.gov .
1962 - Gerry and The Pacemakers release their first British single, "How Do You Do It," which will go on to top the UK chart the following April. The song had been turned down by Adam Faith and although The Beatles had recorded it, they declined to release their version.
1963 - Filming begins in Hollywood for Elvis Presley's 13th film, “Fun in Acapulco.”
1964 - Top Hits
“I Want to Hold Your Hand” - The Beatles
“She Loves You” - The Beatles
“Dawn (Go Away)” - The Four Seasons
“Begging to You” - Marty Robbins
1965 - Petula Clark's first U.S. hit, "Downtown," is awarded a gold record.
1967 - Black Congressman Adam Clayton Powell is stripped of his House seat for "gross misconduct." Ralph Bunch later commented: "...if Adam Clayton Powell were white, he would have his seat today." (Re-elected without campaigning, April 11.)
1967 - The Beatles record "A Day in the Life," "Lucy in the Sky with Diamonds."
1968 - Elton John’s first record, “I’ve Been Loving You,” was released by Philips Records in England. Philips, not realizing the potential of the soon-to-be superstar, released him in 1969, just prior to his teaming with lyricist Bernie Taupin. Elton then signed a contract with Uni Records and began to turn out what would become a string of more than 50 hits over the next 25 years.
1968 - Country music stars Johnny Cash and June Carter got married on this day. Johnny walked down the aisle knowing that his 1956 hit, “Folsom Prison Blues,” was about to be redone for a June release. Cash has a daughter, Rosanne, (previous marriage) who became a country star in her own right in the 1980s.
1969 - Mickey Mantle announced his retirement from baseball. ‘Number 7' was considered to be the final link to the great Yankee dynasty of the 1950s and 1960s. Mantle's World Series records (still) include: home runs (18), runs scored (42), RBIs (40), walks (43) and strikeouts (54). Mickey Mantle died in 1995 from cancer. http://www.themick.com
1969 - BRUCE, DANIEL D., Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps, Headquarters and Service Company, 3d Battalion, 5th Marines, 1st Marine Division. Place and date: Fire Support Base Tomahawk, Quang Nam Province, Republic of Vietnam, 1 March 1969. Entered service at: Chicago, 111. Born: 18 May 1950, Michigan City, Ind. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a mortar man with Headquarters and Service Company 3d Battalion, against the enemy. Early in the morning Pfc. Bruce was on watch in his night defensive position at fire support base tomahawk when he heard movements ahead of him. An enemy explosive charge was thrown toward his position and he reacted instantly, catching the device and shouting to alert his companions. Realizing the danger to the adjacent position with its 2 occupants, Pfc. Bruce held the device to his body and attempted to carry it from the vicinity of the entrenched marines. As he moved away, the charge detonated and he absorbed the full force of the explosion. Pfc. Bruce's indomitable courage, inspiring valor and selfless devotion to duty saved the lives of 3 of his fellow marines and upheld the highest traditions of the Marine Corps and the U.S. Naval Service. He gallantly gave his life for his country.
1971 - At Miami's Dinner Key Auditorium, Jim Morrison of the Doors is arrested for allegedly exposing his penis during the show. Morrison is officially charged with lewd and lascivious behavior, indecent behavior, open profanity and public drunkenness. http://www.doors.com/miami/
1972 - Top Hits
“Without You” - Nilsson
“Hurting Each Other” - Carpenters
“Precious and Few” - Climax
“It's Four in the Morning” - Faron Young
1973 - The Robert Joffrey Dance Company opened with a unique presentation in New York City. The show featured music of the Beach Boys in "Deuce Coupe Ballet." A clever show, even if it didn´t do much to bring the masses to ballet.
1973 - Elvis Presley's manager, Colonel Tom Parker, sells all of Elvis' back catalog recordings to RCA for a lump sum of $5.4 million, forgoing all future royalties, in an apparent attempt to garner the King some quick, much-needed cash. Parker also renegotiates Elvis into a 50-50 split on new royalties, and lands another seven-year, fourteen-album deal with RCA for $3.5 million.
1975 - 17th annual Grammy Awards for 1974 are announced during ceremonies at the Hollywood Palladium. Olivia Newton John wins Record of the Year for "I Honestly Love You" (which also earns her Best Female Pop Vocal Performance). Album of the Year is Stevie Wonder's "Fulfillingness' First Finale" (he wins Best Male Pop Vocal Performance). Song of the Year is "The Way We Were."
1975 - The Eagles had their first million seller and first number one record in the US when "Best of My Love" reached the top of the Billboard chart. "Take It Easy" had made it to number 12, "Witchy Woman" reached number 9, "Peaceful Easy Feeling" hit number 22 and "Already Gone" stalled at number 32.
1977 - Sara Lowndes Dylan files for divorce from her husband of eleven years, Bob Dylan. The divorce is granted in June and she is given custody of their 5 kids and possession of their million-dollar home. Sara was the subject of such songs as "Sad-Eyed Lady of the Lowlands," "Lay Lady Lay" and "Sara."
1977 - Manfred Mann gets their first gold record for "Blinded by the Light," one of the several Bruce Springsteen songs covered the group. The song hit Number One last month, 13 years after Mann's first Number One song, "Do Wah Diddy Diddy."
1980 - Top Hits
“Crazy Little Thing Called Love” - Queen
“Yes, I'm Ready” - Teri DeSario with K.C.
“Longer” - Dan Fogelberg
“I Ain't Living Long like This” - Waylon Jennings
1980 - Norfolk, VA, received 13.7 inches of snow to push their season total to a record 41.9 inches exceeding their previous record by more than four inches.
1980 - An unusually large Florida tornado, 500 yards in width at times, killed one person and caused six million dollars damage near Fort Lauderdale.
1981 - Duke Ellington-musical "Sophisticated Ladies" premieres in New York NY http://www.nodanw.com/shows_s/sophisticated_ladies.htm
1983 - The Philadelphia 76ers won their 10th straight game, beating the New York Knicks 106-94, their 50th win of the season. The Sixers lost only seven of their first 57 games. The team had the fastest start of any team in the 37-year history of the National Basketball Association
1983 - Robyn Smith rode North Star to victory in the Paumanok Handicap at Aqueduct Racetrack to become the first woman jockey to win a stakes race.
1983 - Skier Tamara Mckinney became the first American woman skier to win the overall World Cup Championship.
1987 - The Boston Celtics defeated Detroit 112-102 to become the first NBA franchise to win 2,000 games.
1988 - Top Hits
“Father Figure” - George Michael
“What Have I Done to Deserve This?” - Pet Shop Boys & Dusty Springfield
“She's like the Wind” - Patrick Swayze featuring Wendy Fraser
“I Won't Take Less Than Your Love” - Tanya Tucker
1988 - Center Wayne Gretzky of the Edmonton Oilers earned an assist in a game against the Los Angeles Kings to become the NHL's all-time career assist leader. It took Gretzky 681 games to garner 1,050 assists and surpass Gordie Howe who set the record in 1,767 games.
1991 - Director Oliver Stone's biopic “The Doors,” starring Val Kilmer, opens in Los Angeles.
1993 – New York Yankees owner George Steinbrenner was reinstated. Commissioner Fay Vincent had banned Steinbrenner from day-to-day activities with the Yankees because of his relationship with convicted gambler Howie Spira. Oddly enough, the signing of the Core Four of the 1990-2000s dynasty – Mariano Rivera, Andy Pettitte, Jorge Posada and Derek Jeter, were all signed while Steinbrenner was suspended.
1994 - Aretha Franklin is honored with the Lifetime Achievement Award and Frank Sinatra is given the annual Living Legends Award at tonight's Grammys in New York.
1994 – The senate rejected a balanced budget amendment to the Constitution.
1995 - The 1994 Grammy winners are announced. Sheryl Crow wins Grammys for Best New Artist and Best Song for "All I Wanna Do" while Tony Bennett's "Unplugged" LP wins Best Album.
2005 - The Supreme Court ruled the death penalty unconstitutional for people who committed crimes before age 18.
2013 - According to the U.S. Treasury Department, in June 2012, Japan surpassed China as the leading foreign holder of U.S. Treasury securities.
2014 - A Mt. Gox security breach that enabled hackers to defraud customers of over 700,000 in Bitcoins caused the Bitcoin exchange to file for bankruptcy.
2015 - Astronauts at the International Space Station completed a tricky cable installation project to prepare for the addition of docking ports. The ports will be able to receive manned commercial space capsules such as those launched by SpaceX and Boeing.