Tuesday, March 14, 2006
Welcome New Readers
Classified Ads---Senior Management
Archives---Bonanno on Calif. License
Treasury Auction Highest Rate in 5 Years
Streamline Sales Tax Up-Dated
Top Stories--March 6-10
Marlborough “Business Person of the Year”
Independence/Sovereign Up-Date- St. Pat
Classified Ads---Help Wanted
Int. Decision Systems up-dates list
Salzano's House on Line
Economic/Useful Life of Leased Assets
Spring Leasing Assoc. Conferences
ELFF "White Paper on China"
Michael C. Smith Joins Marshall & Ilsley
You May have Missed---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
######## surrounding the article denotes it is a “press release”
Welcome New Readers
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Classified Ads---Senior Management
The San Francisco Earthquake, from Nob Hill Ruins of San Francisco, Cal.; c1906 *
Larger version, please go here:
(Note: If you are using Microsoft Browser, you may want to change your picture size feature that is set of “automatic sizing.” To see the full version, you need to turn this off by going to “Tools,” “Internet Options,” “Advanced,” and scroll down to “multi-media” and uncheck “enable automatic image resizing.” With this feature checked, your computer will automatically make the image to a maximum size that fits your page. With it off, you can see a larger image, much more detail. Editor)
Experienced leasing exec looking for next challenge. Various asset types, deal sizes and channels. Turn-around or expansion opportunity.
25 year veteran of commercial and equipment leasing seeking a senior management position with leasing or asset based financing company in the southeast (Florida preferred)
25 + yrs. exp. 18 w/ two captives. Currently SVP captive started for Japanese multi-national distributor. Looking to do same w/another mfg. or distributor.
Fortune 500 GM/SVP wants to team up with aggressive lender looking for Western expansion mid-market equip. finance/leasing. 20+ years experience within Rocky Mountain/Southwest and Ca markets.
25 years in optimizing call center operations, collections, billing, and back end revenue generation. Experienced in $7 + billion dollar portfolios. Verifiable achievements.
Credit executive, portfolio manager and syndication facilitator. Extensive business building experience in small and mid-ticket operations. Highly innovative. Fortune 100 audit and technology skills. Bottom-line manager.
15+yrs Collections/Customer Service Expert. InfoLease, CARMS,managed staffs excess 100 VERY successfully - will relocate WITHIN Florida for right position ~ SIMPLY THE BEST
Twenty years, I have been the President of Cash Financial Services. I sold my loan portfolio. Resume.
Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future.
New York, NY, NJ, Ct Tri-State
Top Exec. middle and big ticket, top skills treasury,funding, ops,transaction detail, syndication, ready to max profit, help build quality operation. right now!
Orange County, CA
25+ years experience large ticket equipment finance companies and commercial banking. Operations, documentation, legal, credit, workouts, portfolio management. $2+Billion portfolio. Seeking CFO, COO or similar.
27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries.
Portfolio Management Consultant ;
25+years experience in Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous Process Improvement, Back end Revenue Generation, Cost per Collection Analysis. $5+Billion Portfolio expertise.
Salt Lake City, UT
GM in Sales, Marketing & Operations for Several technology captives. Seeking new adventure in Western States. Consultant of full time.
San Francisco, CA .,
25 years experience w/global leasing company, sales,marketing,business dev., P&L responsibility, asset mgmt, brokering and re-marketing. Interested in joining an est. firm with a future.
Senior Management: Sausalito, Ca
Sr. Corp. officer, presently serving as consultant, fin. service background, M&A, fund raising, great workout expertise, references
Int. equip. leasing exec. 25 yrs global P&L sr. mngt., including corporate turnarounds, strategic planning, new biz dev., structure finance, contract neg., vendor leasing specialist.
Senior Management: Wilmington, DE.
Over 15 years experience managing Credit, Risk Management and Fraud operations for large Financial Institution. Proven Results. Anywhere between NYC and DC for right opportunity.
For a full listing of all “job wanted” ads, please go to:
To place a free “job wanted” ad, please go to:
The San Francisco Earthquake, from Nob Hill, 1906*
Ruins of San Francisco, Cal.; c1906
gelatin silver print; 7.5 x 36 in.
PAN US GEOG - California, no. 240 (E size) P&P
This photograph was taken from Nob Hill, two blocks south of the Fairmount Hotel. Most of the soundly constructed buildings in the affluent Nob Hill area sustained little damage from the earthquake, but none escaped the fire as it swept up the hill the next day. Many of the city blocks visible in this image were dynamited by the War Department to create a fire barrier to slow the advance of the flames, but few attempts succeeded.
This view looks down Powell Street toward Market Street. Several hotels under construction can be seen on either side of Powell Street. The ruins of the Emanuel Synagogue are in the center. Ships were scratched into the negative by hand, perhaps to show the location of the bay more clearly. The outlines of buildings and background landmarks were highlighted on the negative to add clarity to the print.
Archives --March 14, 2003---Bonanno on Calif. License
“California Broker's Should Have California Lenders License.”
Joe Bonanno, Esq., CLP , Legal Counsel for the National Association of Equipment Leasing Brokers
Joesph Bonanno, CLP, NAELB legal counsel.
(His birthday is this Thursday, March 16. We know the year, but won't tell. Editor)
“I was unable to get back to you when you sent me an email requesting my opinion about the CA Brokers License. Needless to say, I agree with my good friend Ken Greene, who is obviously much closer to the issue than I am.”
“As I understand the law, the "Justification" for the license requirement was that it created a class of lenders that are exempt from the provisions of the CA Usury Statute (and of course, there were exceptions to the licensing law in the law itself, creating much confusion). However, in exchange for the exemption, the licensing requirement was imposed.
I also understand that the law applies to finance lenders "engaged in the business of making commercial loans" and that loans have been defined to include leases intended as security BUT NOT TRUE LEASES.
I also understand that there is another provision about CA law, and this is what makes CA so onerous in my opinion, that equates brokers to "finance lenders", i.e., makes brokers equal to lending institutions that have their own money to lend and equates brokers to the lessor in the transaction. In my opinion, this is the fatal flaw in the CA law.
“So, as Ken stated, when you go through the procedure of the hearing at the state level, best of luck trying to explain to, have an administrative hearing officer/judge understand and getting them to agree with you that your particular lease is a true lease and you are exempt from the licensing requirement. You will lose every time, therefore Ken's good advice is right on point. Don't go through that hassle, just obtain the license.
“Interestingly enough in my state of Massachusetts, the same issue (exemption from the usury statute in a commercial loan setting, but only in loans that range from 18% - 21%, 21% being the maximum for a commercial loan) has been addressed in a different way. Rather than imposing a licensing requirement, the day before the loan documents are signed, the lender is required to file a notice with the Secretary of State of the existence of the loan and the interest rate. As long as notice is filed, then the loan continues to be enforceable and the defense of usury cannot be raised by the commercial borrower. To me, this is a much easier approach, administratively and from the perspective of conducting a business, than a licensing requirement.
“A few years back, I had discussions with a CA lobbyist that was willing to listen to try to do something to have the law overturned as it pertained to the broker being equated with a direct lender, but the lobbying costs were very, very expensive.
“So for now, I defer to my friend Ken Greene and suggest that everyone in CA take his good advice.”
Joe Bonanno, Esq., CLP
Legal Counsel for the National Association of Equipment Leasing Brokers
Weekly Treasury Auction Highest Rate in 5 Years
Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels in five years. Last week it was 4.5 and yesterday's auction of $19 billion in three month bills saw it go to 4.510%
The three-month rate was the highest since three-month bills averaged 4.520 percent on March 12, 2001. The six-month rate was the highest since these bills average 4.770 percent on Feb. 20, 2001.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,765.17 while a six-month bill sold for $9,886.00.
Streamline Sales Tax Up-Dated
The following summary of the Streamlined Sales Tax meeting in Atlanta is being distributed by the Equipment Leasing Association (ELA) with the permission of CCH and it's author/editor Dan Schibley.
Top Stories--March 6-10
Here are the top ten stories most "opened" by readers last week.
(1) Why IFC Credit is in Trouble
(2 ) Weekly Bulletin Board Report
Southern California Repeater
The Most Complaints Are About this Company
The DDL Company
(3 ) Sales Makes it Happen---by Terry Winders, CLP
“ The Use of Lease Proposals”
(4) March 9, 2001 Archives-- Who is Linda Kester?
(5) Outsource your lead generation
(6) March 6, 2001 Archive--- NAELB “List Serve”/”Master Member”
(7) Lease Agreements/Commitment Letters
(8) Narrowing Spreads Stir Complaints
( 9) Wall Street Analytics Develop Equipment Lease Module
(10) Selling Up-by Steve Chriest: “Beware Negotiating Tactics”
Extra on March 6 not included in Top Ten:
Surprise! Surprise! Surprise!
Former U.S. Rep. Kenneth E. Bentsen, Jr. to head ELA
Marborough names LaChance “Business Person of the Year”
Sandra LaChance with husband Larry
Larry LaChance, president of Bankers Capital in Marlborough, Massachusetts was named the Marlborough Regional Chamber Business Person of the Year.
“Larry is an active ambassador for the Chamber and now serves out board of director,” said Susanne Morreale Leeber, president and CEO of the Marlborough Regional Chamber of Commerce. “By joining together, business people have accomplished and can still accomplish what no one person could do alone.”
LaChance has been a member of the local Chamber since 1995 and was a founding member of the Marlborough Chapter Business Network International.
“People will forget what you said, and people will forget what you did, but people never forget how you made them feel,” said LaChance in accepting the award.
Here is the front page of the newspaper with the story:
Here is a PDF full version:
Independence/Sovereign Up-Date-Invitation St. Pat
“The merger between Independence and Sovereign continues on track for a Spring/early Summer closing. Most importantly, ICB Leasing will continue to operate out of its NYC offices even after the merger is closed with minimal changes anticipated. This is the great news many of our Lessors and Brokers have been waiting for! So continue to send in your transactions to us, just as always, and we will be here to take care of them for you.
“Please make a note to come visit us on Saint Patrick's Day, Friday March 17th from 11:00 am until 3:00 pm for a good view of the Parade and lunch.
”It will be an open house. Bring everyone from the boss to your credit and operations staff; we'd love to see all of you. Family and kids too are invited. Our office has a good view of the festivities and would be a great place to sit down after standing on Fifth Avenue to watch for a while.
“Please RSVP to us by e-mail or phone. Wear green.”
For info: www.ny.com/holiday/stpatricks/
IRA Z. O'ROMOFF
DIRECTOR OF LEASING
ICB LEASING CORP.
551 FIFTH AVENUE
NYC, N.Y. 10176
212 209-9179 (FAX)
201 776 7040 (CELL)
Classified Ads—Help Wanted
At Dell Financial Services, we fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide. If you're ready for your chance to take the field, join our team as a:
Responsible for working remote out of a home office in the states of MI, GA, WA, CO, CA and MN. We're looking for seasoned candidates with 8+ years of Equipment Leasing Sales experience with a successful track record of increasing market/account penetration by assigned segment and/or geographic region, improving customer satisfaction and growing the business for long term results. You will be working in a relationship sales environment directly with CFOs, CIOs, CEOs and other high-level executives. If this type of opportunity sounds appealing, please send a copy of your resume to US_DFS_STAFFING@dell.com
Financial Analyst – Irvine, CA
Calfirst Leasing Corporation is looking for experienced individual with a commercial credit analysis background. This opportunity affords a competitive salary plus great medical and 401k benefits. If you have a minimum of 2 years commercial credit analysis background, please send us your resume to learn more about this exciting opportunity. Send resumes to firstname.lastname@example.org.
Seeking Lease Representatives
in Baltimore, Atlanta,
Charlotte or Raleigh.
In these positions, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout the Region. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have the necessary in-market experience. Please apply on-line at www.mandtbank.com.
At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level. With over 700 branches, your career can travel as far as you want to take it!
Sales Manager – Irvine, CA
We're looking for a detail oriented, profit driven Sales Manager with 10 years experience in sales and/or management in the middle ticket equipment finance/leasing industry. Great opportunity for huge earnings potential as we offer a competitive salary with bonus and commission. Send resumes to email@example.com .
International Decision Systems up-dates “Leasing Software” list
Leasing Software Companies
Top eLeasing software companies, as ranked by employees.
|International Decision Systems (f)
80 South Eigth Street, Suite 1500
Minneapolis, MN 55402
612.521.3207 - fax
203 US/North America
Todd Davis, COO.,
VP of Fin / Admin., Ronald
Dolan, Global VP of Sales,and David Nash,VP of Prof Srvcs.
Rapport & ProFina
Daimler Chrysler Corp.
(f) International Decision Systems
Fortune 500 Global Companies Select Rapport™ from International Decision Systems, Release 5.5 Now Available
To see the full list, please go here:
Salzano's House on Line
NorVergence bankruptcy trustee Charles Forman in early March sued Thomas J. Salzano, 23, son of the alleged mastermind of the NorVergence scandal, Thomas N. Salzano, chief managing officer, for allegedly charging trips to bars and clubs, clothing and other personal expenses totaling $268,795 to NorVergence American Express card, plus reportedly using $200,000 from NorVergence to buy a $622,000 house in Glen Ridge, New Jersey. To add insult to injury, he reportedly never worked at NorVergence.
The various web sites and blogs, such as ww.fightthescam.com, www.lesseerights.org, and "TheAberdeenKid ( http://finance.groups.yahoo.com/group/TheAberdeenKid )" had a field day.
Allegedly they even set the listing of the house with its picture:
Now the NorVergence bankruptcy trustee Charles Forman has found that the mother, (wife of Thomas N.) also used the corporate American Express card: for vacations, groceries, massages, manicures, evidently whatever she wanted.
According to the lawsuit filed by bankruptcy trustee Charles Forman, Jamie Salzano charged $135,628 to a NorVergence corporate card between November 2002 and March 2004.
Jamie Salzano allegedly also collected at least $73,076 in wages during that period even though, the lawsuit charged, although many claim she was a "no-show employee."
Peter Salzano filed bankruptcy and they report Thomas N. has not since he filed it within the seven year period before.
This is the latest after the police closed down the Salzano cardboard charity box operation placed at small stores by commissioned salesmen and Salzano gets caught because he reportedly stiffs the landlord who is well connected in Jersey, who called for Salzano's immediate eviction, and enforcing the order, the cardboard box charity operation comes to light of law enforcement eyes.
Meanwhile back at the ranch, the 2A provision in the NorVergence "Equipment Rental Agreements," seeming do not apply since the company was the supplier (and perhaps "manufacturer") which then affects the "hell and high water" provisions, according to several defense attorneys. As more comes to light with "hold backs," personal property and insurance claims based on the "stream of payments" or” buy-out" provisions (many seeming to be pegged to creditworthiness, they say,") the United States attorney may be getting involved regarding "conspiracy," the FTC regarding civil matters, and a number of state attorneys generals offices are back talking with each other. Several are able to understand the basics of “Lease Plus” computer accounting from LeaseTeam.
Brandied about in many recent articles and NorVergence lessees are terms such as “bribery,” “perjury,” “fraud” and “conspiracy.”
These words do not mean the same as in Webster's Dictionary as used in the courts of law. The various states and federal laws also have finite definition.
One of the best written on the subject comes from the two United States attorneys in their 47 page “Preliminary Statement” as “attached instructions it its charge to the jury” in United States of America against Barry Drayer and Stephen Barker ( known to us as the RW Professional Scandal.)
These are portions that explain these definitions as written by Roslynn R. Mauskopf, United States Attorney, and Linda A. Lacewell and Steven Tiscione, Assistant U.S. Attorneys ( of Counsel.)
“Fraud” is a general term, which embraces all the various means by which human ingenuity can devise and which are resorted to by an individual to gain an advantage over another by false representations, suggestions, or suppression of the truth or deliberate disregard for the truth. Thus, a “scheme to defraud” is merely a plan to deprive another of money or property by trick, deceit, deception or swindle...
“The deception need not be premised upon spoken or written words alone. The arrangement of the words, or the circumstances in which they are used may convey the false and deceptive appearance. IF there is deception, the manner in which it is accomplished is immaterial.
“The failure to disclose information may also constitute a fraudulent representation if the defendant was under a legal, professional or contractual duty to make such a disclosure, the defendant actually knew such disclosure out to be made, and the defendant in question failed to make such disclosure with the intent to defraud.”
Prior Inconsistent Statement: “...If you find that the witness made an earlier inconsistent statement that conflicts with his or her trial testimony, you may consider the fact in deciding how much of his or her trail testimony, if any, to believe.
“In making this determination, you may consider whether the witness purposely made false statement or whether it was an innocent mistake, whither the inconsistency concerns an important fact, or whether it had to do with a small detail; whether the witness had an explanation for the inconsistency, and whether the explanation appealed to your common sense.
“It is exclusively your duty, based upon all the evidence and your own good judgment, to determine whether the prior statement was inconsistent, and if so, how much to believe all or part of the witness' testimony.”
Unlawful Agreement: “ ...Now, the Government need not prove that members of the conspiracy met together or entered into any express or formal agreement. You need not find that the alleged conspirators stated, in words or writing, what the scheme was, its object or purpose, or every precise detail of the scheme, or the means by which it was to be accomplished. It is sufficient to show that the conspirators tacitly came to a mutual understanding to accomplish an unlawful act by means of a joint plan or common design.”
“...The key question is whether the defendant joined the conspiracies with an awareness of at least some of the basic aims and purposes of the unlawful agreement.
“To act ‘knowingly' means to do something voluntarily and deliberately, and not because of mistake, negligence, inadvertence or some other innocent reason...
“...the fact that a defendant, without knowledge, merely happens to act in a way that furthers the purposes of or objectives of the conspiracy, does not make him a member. More is required under the law. What is required is that a defendant must have participated with knowledge of at least some of the purposes or objectives of the conspiracy and with the intention of aiding in the accomplishment of those unlawful ends.
In sum, a defendant, with an understanding of the unlawful character of the conspiracy, must have intentionally engaged, advised, or assisted in it for the purpose of further the illegal understanding.
“If you find, beyond a reasonable doubt, that the defendant acted with a conscious purpose to avoid learning the truth, and that the defendant acted with a deliberate disregard of the facts, you may find that the defendant acted knowingly.
“...Now, the extent of a defendant's participation in a conspiracy has no bearing on the issue of guilt. Each member of a conspiracy may perform separate and distinct acts and may perform them at different times. Some conspirators may play major roles, while others play minor parts in the scheme. He need not have been fully informe3d as to all of the details or the scope of the conspiracy. He need not have been a member of the conspiracy for the entire time of its existence. The key inquiry is simply whether the defendant joined the conspiracy with an awareness of at least some of the basic aims and purposes of the unlawful agreements and with the intent to help them succeed.”
Economic/Useful Life of Leased Assets
By Terry Winders, CLP
Both the Federal Income Tax requirements and the definition of a legal lease for Article 2A of the Uniform Commercial Code require that the maximum term of a commercial equipment lease is 80% of the economic/useful life (useful life) of the leased asset based on the “use” by the Lessee. Both of these requirements put the “burden of proof” on the Lessor, if the nature of the lease is challenged, in either tax court or bankruptcy court. Therefore, the question is, how does the Lessor prove useful life? What information exists in the file folder that can prove to a judge that the Lessor knew how the equipment was going to be used by the Lessee (at the conception of the lease) and what impact it had on the useful life?
Equipment Description and Use
It begins with a proper and complete description of the equipment. Remember, you only get back what you describe. Then, if possible, discover how the Lessee plans to use the equipment and a standard for that use. A standard is miles, rotations, shifts of use, hours of use, or something that establishes a loss of value or time of use that can be measured. Everything has a finite life and you must investigate the equipment with the same interest that you investigate the credit. You use the same skills that you use on credit investigations. Check with the vendor, the manufacturer, guide books, and secondary market sellers and compare the results based on expected use and then record your findings.
Useful life is not tied to fair market value. An example would be a computer that after three years of use has a limited purchase price but can still be used by some business somewhere to create a profit for over ten years making its useful life ten years. It is the total term of useful life that must be discovered and recorded in the lease folder.
Actual Useful Life
One note of caution, you can not use the Federal deprecation guidelines or in many cases GAAP depreciation because they are not a true test of the actual useful life. Useful life is unique to each piece of equipment based on that equipments use. This poses a difficult problem when obtaining leases from vendors where communication with the lessee may be limited. The excuse that your contact with the Lessee is limited is no excuse for tax or legal reasons so you must create a questionnaire on equipment use to accompany the credit application. This need not be elaborate but it must extract some measure of its use.
Many questionnaires combine a full description with questions for location of use and type of instillation, if required. Then some measure of its use or what is required for its operation. Are the operators trained, licensed, or just regular employees? On occasion the leasing program you establish with the vendor can have different factors based on “use”. Then a statement from the vendor that they had questioned the lessee about the use in order to determine the correct equipment will give you information and support for your assumption of useful life.
A lot of equipment like data processing equipment is tied to technological change and therefore its true useful life is questionable but still some attempt must be made to determine your best guess (with some recorded facts) to show your attempt to prove its useful life.
It stands to reason that if a leasing company wants to assume a residual then the equipment investigation to determine equipments value at lease termination gives you some information towards the goal of determining useful life. But once again useful life is not a value issue. Also if equipment is permanently installed you must control the space it resides in to have a multiple use to help prove that it has additional life pass its current use. If not, then only the lessee can use it and that means you have exceeded the 80% limit.
The courts are beginning to question why, as equipment Lessor's, we do not have accelerators or additional rent in our leases to accommodate the “over use” of the asset. For example, a Lessee indicates in the application that they intend to use the equipment only one shift a day, and the lease reflects this use. Then business improves and the equipment may be used two or three shifts a day and there is nothing in the lease that calls for increased rent…. Is the Lessor acting like a money lender? Or, are they interested in how there equipment is being used? Without concern for the equipment “use” and its impact on the lease you look like a money lender when you could have done something to protect the lease, this is another red flag that helps the court decide the true nature of the transaction.
If you are truly in equipment leasing you should be very concerned about the equipments “use” and that use needs to be recorded and acted upon to be considered a true lease.
Terry Winders: Has been teaching the principles of equipment leasing for over thirty years and his consulting and teaching business is in Louisville Kentucky
Terry Winders, CLP
Lease training and Consulting
Leasing Association Conferences --- Spring 2006
Eastern Association of Equipment Lessors
Hilton Marco Island Beach Resort
Marco Island, FL.
Great Learning Opportunities
- Changing Credit Dynamics: Credit Scoring and Fraud Prevention
- Making Money in Today's Low-Margin Environment
- Executive Marketing Track: How to Build Your Business
- What's My Next Step? Risks, Rewards, and Responsibility
- Legal Workshop -- State Tax Laws and How They Affect Lease Transactions
- Golf at Hammack Bay Golf & Country Club
- Spring baseball: Minnesota Twins vs. Tampa Bay Devil Rays
- Opening Reception
- Peer Group Discussions
Beach and Water Fun:
- Eco-tour: Take waverunners to the Everglades to see dolphins and manatees
- Schooner team-building competition
- Evening reception/clam bake with beach activities
Registration details to be announced soon -- watch for more information!
The Eastern Association of Equipment Lessors (EAEL) is a non-profit trade association serving its members in the equipment leasing industry. The association is governed by an elected Board of Directors with various committees that administer to its overall operation. Member firms are committed to a philosophy of professionalism and integrity and subscribe to a Code of Ethical Standards as an expression of this commitment.
To register and leasrn more about the conference:
National Association of Equipment Leasing Brokers
2006 Annual Conference
Dr. Barry Roberts will captivate your attention with the story of obstacles that he has overcome. If you ever feel that you need some inspiration in order to keep focus in your business, Dr. Roberts' presentation will surely provide it. After hearing his fascinating life story, from the horrible car crash that caused him to lose his right arm to becoming the captain of the sheriff's department, you will Never Lose Focus when business reveals obstacles again.
Dr. Roberts will keep your focus while helping you in the day-to-day operations of your business. Learn about this incredible man and his exceptional motivation to overcome what life has thrown at him.
Attend Dr. Roberts' Opening General Session, Never Lose Focus! On Friday, April 21 at 8:00 a.m.
Debbie Allen's focus on marketing through her motivating presentation will keep you entertained and informed. She will show you how to stop wasting thousands of dollars on ineffective marketing. Discover dozens of highly effective, low-cost marketing strategies that are easy to implement and create FAST results every time. Debbie is the author of four books, including her award winning, Confessions of Shameless Self Promoters tm now published in five countries.
Debbie's expertise has been featured in numerous publications, including the Who's Who of Experts, Entrepreneur, Selling Power, Sales & Marketing Excellence and Franchising Magazine . She now addresses over 75 organizations and more than 100,000 business people each year, sharing her insightful success strategies and secrets to marketing success.
Attend Debbie's Keynote Presentation, Proven Sales & Marketing Strategies that Guarantee Shameless Success!, during lunch on Friday, April 21 at Noon.
If you missed these informative classes in 2005
be sure to sign up for them in 2006!
Advantage 2.0 & alaQuote Training
Thursday, April 20, 9:00 a.m.- 12:00 p.m. and 1:00 p.m. ? 4:00 p.m.
Jim Buckles will be training on the following aspects of the Advantage 2.0 and alaQuote Training:
- On-line lease calculator
- Quote letter
- Application submittal tool
- Contact management
- Deal tracking
- Document processing
- Electronic file storage
**Please RSVP by calling (866) 352- 8665 or by emailing firstname.lastname@example.org
CLP Review: An Inch Wide and a Mile Deep
Thursday, April 20, 9:00 a.m. ? 5:00 p.m.
In conjunction with the NAELB, the CLP Foundation is pleased to be able to present this program to attendees of the 2006 Annual Conference in Minneapolis .
An in depth review of four of the toughest subjects in Equipment Leasing:
- Lease Classification and Terminology
- Math of Leasing
- Leasing Law, Documentation & Collections
- Accounting for Leases
EARLY BIRD Registration Deadline: March 15, 2006
HOTEL Registration Deadline: March 22, 2006
Register on line at:
Equipment Leasing Association
Large Ticket Conference
Hyatt Regency Grand Cypress
Association for Governmental Leasing & Finance
25th Annual Spring Conference
Omni Hotel Chicago
Room Rate $199.00
At the conference, Leasing News will be presenting Paul Menzel, CLP, with the "Leasing News Person of the Year for 2005" award . Editor/Publisher Christopher "Kit" Menkin and many of the Leasing News Advisory Board will be on hand for the presentation; to salute Paul for the over 30 years he has contributed to the leasing profession.
"We hope to see you there."
United Association of Equipment Leasing
Laguna Cliffs Mariott
Hotel and Spa
Dana Point, California
The featured speakers for the UAEL Spring conference are:
Our Opening General Session is presented by Greg Winston who will address the subject of “Creating Unshakeable Luck”
||Mr. Winston is one of the few speakers guaranteed to receive a standing ovation with his interactive motivational speech “Creating Unshakeable Luck.” In his early years, Greg began a sales career with the Xerox Corporation and became one of their leading sales professionals. At one point in his career year-to-date sales figures were 10 times more than the average sales representative's.
Our Friday Luncheon speaker will be California assemblyman Roger Niello. Mr. Niello will speak on legislation pertinent to the equipment leasing industry.
||Assemblyman Roger Niello represents the 5 th district in the California State Assembly. He attended UC Berkeley for his undergraduate studies and completed his graduate studies at UCLA. Roger worked as a C ertified P ublic A ccountant until joining his family's business at Niello Auto Group, where he spent the next 25 years running retail automobile dealerships with his family partners. Roger was elected to the Sacramento County Board of Supervisors in a special election in February of 1999.
Please register online at www.uael.org or contact Kim at email@example.com or 760-564-2227 with any questions regarding the conference. Also, register online for golf at the beautiful Talega Golf Club to be held Thursday morning May 4, 2006.
or download form in PDF
Discount Available: with a minimum of one full paid registration (member or non-member), your Operations employees can attend the Friday aftternoon Funding Track for $125.00. In addition, each participant attending the Funding Track is invited to join the President's Reception Friday evening - a great opportunity to network with peers and funding sources. The Funding Track highlights are below:
- Prepering credit packages for application only submission.
- Preparing credit packages for commercial full disclosure packages.
- Understanding the difference among scoring models.
- Identifying the "red flags" for fraud prevention.
|- What do you need to know before documenting the deal?
- Sales tax issue (identitying special states and their requirements).
- Is your company using technology in the documentation process?
- Discount versus brokering.
|- Tips and tools for making your "deal flow" more efficiently.
- What does it take to fund a deal?
- Discuss challenges that slow down funding and discuss solutions to these challenges.
Click here to register for Funding Track
National Vehicle Leasing Association
Annual Conference and Exposition
Gaylord Texan Resort & Convention Center
Equipment Leasing Association
45th Annual Convention
JW Marriott Desert Springs Resort & Spa
Palm Desert, CA
U.S. EQUIPMENT LEASING & FINANCE FOUNDATION
PUBLISHES GROUNDBREAKING WHITE PAPER ON CHINA
ARLINGTON, VA,– A growing number of lessors exhibiting cautious optimism are slowly, but successfully, knocking down the great wall that separates them from turning lease financing into a mainstream financial product in China to help companies acquire critical equipment.
This sentiment is summarized in a white paper on China released by the Equipment Leasing & Finance Foundation.
Like any new market, China presents a number of formidable – sometimes daunting – challenges for lessors. Overcoming them as the country moves toward a market-based economy makes the job that much more compelling. Careful planning and execution, however, are leading to success for early entrants.
“The penetration rate of leasing in China is less than one-half of one percent, as compared to the prevailing level of 30 percent in the United States and other mature markets,” said Foundation Executive Director Lisa Levine. “Obviously there is tremendous growth potential for the Chinese leasing industry. As the Chinese economy continues to evolve, learning from the experiences of early entrants – both good and bad - could determine the chances of success or failure for new lessors.”
The Foundation commissioned The Alta Group consultancy to develop the white paper entitled, “Knocking Down the (Great) Walls: Identifying Factors for Success in the Chinese Equipment Leasing Market,“ available through the ELA.
“To many people in our industry and business in general, China represents this big morass of unknowns,” said Alta Group Managing Principal John Deane. “This white paper helps companies secure a better understanding of the Chinese market and determine the minimum requirements for operating there, including risks that must be addressed to be successful.
“Many of the lessons learned by lease finance providers in China and discussed in the paper can actually be transferred to companies in other industries who are evaluating such a move to this burgeoning market.”
Content for the white paper was derived largely through extensive interviews with a number of lessors currently operating in China. The document includes case study overviews of each of their experiences.
The interviewed lessors include, among others:
• A captive lessor whose parent is a large, United States-based manufacturer of industrial equipment;
• An international technology company whose China leasing activities are conducted by a joint venture leasing company with a Chinese lessor partner;
• A Hong Kong-based bank that writes offshore leases into China;
• A local Chinese-owned lessor; and,
• An international bank-owned equipment lessor that has studied the China equipment leasing market carefully, but has chosen not to enter the market yet.
“Our research indicated that the infrastructure needed for a viable equipment leasing industry in China is not fully in place,” Deane said.
“As a result, it's critical that lessors be armed with adequate and accurate information regarding the opportunities and pitfalls in this market. Many of the risks in China are the same as those in other markets, except they are compounded by time and distance. There also are some uniquely Chinese beyond differing tax and accounting rules.”
Key findings discussed in the white paper include:
• There are plenty of risks in doing business in China, but nothing that cannot be overcome through diligence and careful planning. Of greatest concern are credit reporting and the legal environment in China, both of which are extremely challenging – as are the regulatory process and tax system. The understanding and acceptance of leasing is improving, however, helping lessors carefully maneuver through these obstacles.
“Central databases of credit histories just don't exist in China, so you can't run your business there like other markets,” Alta principal and co-author Jonathan Fales said. “Consequently, you need to know your customers on a personal basis. Local lessors and those with Chinese partners have this knowledge and advantage. Over time, this process will become more westernized, but this is still several years away.”
• Unless there is a customer-driven need, most foreign lessors should not enter the market just yet. Given the risks involved, waiting until the market is better prepared for modern lease financing is prudent. But, if it appears a customer or parent company will need lease finance support in any way, there should be no hesitancy to move into China and establish operations.
“When the timing is right, the sooner a lessor enters this market the better chance they have at grabbing a foothold of business,” Fales said. “There are some risks to be sure, but the sooner you get to China and establish your operation, the better shape you will be with a few years of experience before the expected rush into the market later this decade.”
• More than one business model seems to work for lessors in China. Wholly foreign-owned enterprise (WFOE), joint venture, offshore and Chinese-owned onshore lessor arrangements all seem successful, depending on the specific needs of the lessor and customer. Partnerships with Chinese lessors can shorten the time to market, but it can be difficult to find a suitable partner due to a variety of cultural differences and control issues.
“Based on our analysis of the leasing industry and benchmarking of other industries where foreign investors have ventured into China, we've found it advantageous for a foreign lessor to team with a Chinese partner,” Alta Principal Rafael Castillo-Triana said. “Finding such a partner with financial stability and significant experience in leasing can be a challenge but, if the right one is found, this can ease a lessor's entrance into the Chinese market.”
• Business plans must account for an acute shortage of local talent in China. Across the globe, the leasing industry is insular and has had to largely train its own people. This situation is surprisingly even more exaggerated in China. Most executives come from the traditional banking and finance industries, with little if any exposure to the practice of lease financing. Significant recruiting and training resources must be dedicated to address this situation.
“At this point, if you talk to the major lessors in China and ask them who the key people are in the industry, you hear the same set of names from each,” Fales said. “The talent pool to service the market needs to grow significantly before leasing will become a mainstream industry in China.”
• Leasing is still a new concept for many Chinese businesspeople. There is a surprisingly low level of understanding of basic lease finance concepts in China, even among vendor and reseller executives. Significant marketing and training resources must be dedicated to overcome this issue.
“Virtually all of the lessors we interviewed were amazed by the fact that leasing is not a well understood concept in China, despite the emerging market economy,” Castillo-Triana said. “They realize time and effort are needed to educate this evolving market on the advantages of leasing.”
• The used equipment market in China is largely undeveloped. Chinese businesses have historically avoided used equipment due to a combination of reliability concerns and negative connotations associated with the purchase of used equipment. There is great potential to build a strong used equipment market for some assets, including IT and telecom equipment.
“Perceptions toward used equipment are slowly changing, especially as foreign manufacturers with better quality equipment enter China,” Fales said. “People are starting to realize, for example, that a piece of machinery or construction equipment three or four years old may actually be in good shape and worth buying on the used-equipment market. This is another cultural issue that is going to take some time to overcome.”
• Patience is critical in establishing any business in China. Little happens fast in this country. Both Chinese and foreign lessors have painfully experienced the lengthy process of securing government approvals. Just trying to secure a signature on a simple document sometimes takes months. As a general rule of thumb, plan double the time needed when working in this market place.
“When it comes to business, anything the Chinese government touches takes a lot longer to get done than other countries, but this is true for virtually every industry in the country,” Fales said. “This certainly increases the time needed to get into the market. Once a lessor decides to enter China, it takes at least 6-9 months, probably longer to get everything in place to do business.”
### Press Release ###########################
Michael C. Smith Joins Marshall & Ilsley Corporation as
Senior Vice President and Corporate Treasurer
MILWAUKEE, / -- Marshall & Ilsley Corporation (M&I) announced the appointment of Michael C. Smith, 47, as senior vice president and corporate treasurer. Prior to joining M&I, Smith served as treasurer of the consumer finance group for American International Group (AIG) in New York. There he was responsible for directing the activities of 13 banks and finance subsidiaries in eight countries including the United States, Asia, Latin America, and Eastern Europe. Preceding his position at AIG, Smith served as senior vice president of international treasury for Associates First Capital Corporation, now CitiFinancial.
Smith earned a bachelor's degree from Washington and Lee University in Lexington, Va. and an MBA from the University of Texas.
Marshall & Ilsley Corporation (NYSE: MI - News) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $46.2 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin- based bank. M&I Bank has 196 offices throughout the state, in addition to 42 locations throughout Arizona; 13 offices in metropolitan Minneapolis/St. Paul, Minn.; and locations in Duluth, Minn.; Las Vegas, Nev.; and, Marco Island, Naples, and Bonita Springs, Fla. M&I's Southwest Bank affiliate has seven offices in the St. Louis area and one office in Belleville, Ill. Metavante Corporation, Marshall & Ilsley Corporation's wholly owned technology subsidiary, provides virtually all of the technology an organization needs to offer financial services. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet
( http://www.mibank.com or http://www.micorp.com ).
M&I's customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
### Press Release ###########################
Bank of China's Net Profit Up 33 Percent
China's Largest state bank singles out underwriters
Fitch Assigns Short-Term Issuer Default Ratings To Japan's Financial Institutions
Southwest Airlines raises fares, industry follows
Family-Owned McClatchy Chain to Buy Knight, Plans to Sell Off 12 Dailies
Papers involved in the transaction
2 Asian Automakers Plan Ventures in 2 States Left by U.S. Carmakers
Calling it a “slow down,” U.S. house prices should increase about 5.8 percent this year
Capital One buys North Fork Bancorporation
Washington Mutual seeks bigger share-Free Checking Campaign
March mortgage market deals with difficulty
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Calendar Events This Day
In this spring festival people run through the streets smearing each other with brightly hued powders and colored water. This is observed by Indians without regard to caste. Huge bonfires are built on the eve of Holi. Because there is one universally accepted Hindu calendar, this holiday may be celebrated on different dates in some parts of India, but it always is in February or March.
A day set aside to honor moth collectors and specialist. Celebrated in museums or libraries with moth collections.
National Children's Craft Day
To encourage children's creativity through crafts. Celebrate by painting, sculpting or creating arts and crafts projects.
Organize You Home Office Day
One day each year for the more than 34 million home office households to find files, purge papers and tackle to-do lists. www.homeofficelife.com
Hebrew calendar date Adar 14, 5766. Feasts, gifts, charity, and the reading of the Book of Esther mark this commemoration of Queen Esther's intervention in the 6 th century BC to save Jews of ancient Persia. Haman's plot to exterminate the Jews was thwarted, and he was hanged on the very day he had set for the execution of the Jews. Began at sundown, March 13.
Potato Chip Day
Today's Top Event in History
1986- Microsoft goes public, closing the day at twenty-eight dollars a share, up seven dollars from the offering price. The offering, dubbed "the IPO of the year" by industry analysts, created a slew of instant tycoons as young Microsoft employees found their stock options suddenly worth something.
Microsoft was founded in the mid-1970s, when high school friends and fellow computer nerds Paul Allen and Bill Gates read a Popular Electronics article about a new microcomputer called the Altair 8800. The two had been programming computers since high school, where they developed a system called Traff-o-Data for analyzing traffic data, as well as a registration system that reportedly placed the two in the classes of the most attractive girls. Allen and Gates quickly developed a version of BASIC, a computer language, and licensed it to MITS, maker of the Altair. The two formed a company called Micro-Soft (they later dropped the hyphen). For the next five years, Microsoft concentrated on developing computer languages that would run on the variety of home computers that flooded the market in the late 1970s. Microsoft's lucky break came when operating system guru Gary Kildall of Digital Research missed a meeting with IBM executives because he was out flying his plane: Instead, IBM asked Microsoft for an operating system. Gates quickly purchased the rights to Seattle Computer Products' "Quick and Dirty Operating System" (QDOS), which became MS-DOS, the operating system powering the IBM PC, introduced in 1981. Today he is the world's richest billionaire: $50 BB.
This Day in American History
1729-The first Catholic nun who professed her vows in the United States as Sister St. Stanislas Hachard of the Ursuline Convent, New Orleans, LA, who took her voews this day.
1743 - The City of Boston conducted the first town meeting in Faneuil Hall. It became an idea that caught on quickly throughout New England.
1796----African Methodist Episcopal Zion Church founded New York
1851-San Francisco Foreign Miners Tax, designed to discourage Chinese gold mining, was repealed.
1862-Union General Ambrose Burnside captures North Carolina's second largest city and closes another port through which the Confederates could slip supplies.
On March 13, he landed 12,000 troops along the Neuse River, 15 miles south of New Bern. Accompanied by 13 gunboats, Burnside's army marched up river to face 4,000 Confederate troops commanded by General Lawrence O. Branch.
The city was protected by extensive defenses, but Branch did not have enough soldiers to properly staff them. He concentrated his men along the inner works a few miles downriver from New Bern. Early on the morning of March 14, Burnside's men attacked in a heavy fog-two of the three Yankee brigades crashed into the fortifications. General Jesse Reno's brigade struck the weakest part of the line, where an inexperienced Rebel militia unit tried to hold off the Federals. Burnside's third brigade joined Reno and the Confederate line collapsed. That afternoon, Union gunboats steamed into New Bern. Union casualties for the battle were 90 killed and 380 wounded, while the Confederates suffered 64 killed, 101 wounded, and 413 captured. The conflict produced a Confederate hero, Colonel Zebulon Vance, who rescued his regiment by using small boats to bypass a bridge set afire by his comrades. Vance was elected governor of the state later that year.
1864- Red River campaign Louisiana
1864-Casey Jones birthday; railroad engineer and hero of ballad, whose real name was John Luther Jones. Born near Cacye, KY. He died in a railroad wreck near Vaughn, MS, April 30, 1900.
1867- First Woman dentist birthday: Lucy Beaman Hobbs, Franklin County, NY, first woman in America to receive a degree in dentistry (Ohio College of Dental Surgery, 1866) and to be admitted to membership in a state dental association.. In 1867 she married James M. Taylor, who also became a dentist (after she instructed him in the essentials). Active women's rights advocate. Died at Lawrence, Kansas, Oct 3, 1910
1867-Michigan was the first state to enact a law to support state universities via property tax; “assessed all taxable property one twentieth of a mill on each dollar of value, to be used for the use, and maintenance of the university. The funds paid to the university in 1867 totaled $15,398.
1879- theoretical physicist Albert Einstein birthday, best known for his theory of relativity. He won the Nobel in 1921. Einstein's revolutionary theories introduced entirely new ways of thinking about time, space, and gravity, and he profoundly affected the way scientific inquiry occurred. A citizen of the world, Einstein was born in Germany, grew up partly in Milan, studied and taught in Switzerland, returned to Germany, and fled to the United States before World War II. In Einstein's theory, the speed of light, which is the limiting speed of any body having mass, is constant in all frames of reference. In the fifth paper that year, an exploration of the mathematics of special relativity, Einstein announced that mass and energy were equivalent and could be calculated with an equation, E=mc2. In 1950, he published his unified field theory, which was quietly criticized as a failure. A unified explanation of gravitation, subatomic phenomena, and electromagnetism remains elusive today. An avid pacifist, he nevertheless put into motion the invention of the hydrogen and atomic bombs with a letter to President Roosevelt, urging him to beware the possibility of Germany's building an atom bomb. Decades later, the specter of a nuclear attack capable of knocking out communications across the country was one of the factors leading to the development of the Internet.. Died 1955, Princeton, New Jersey.
1887-Sylvia Beach, owner of the Paris-based bookstore Shakespeare and Co., is born in Baltimore. Beach moved to Paris at the age of 14, when her father, a Presbyterian minister, was sent to France. She fell in love with the city. In 1919, she opened her bookstore, Shakespeare and Co., which became a gathering place for American writers in Paris in the 1920s, including F. Scott Fitzgerald and Ernest Hemingway. Beach was a strong supporter of writer James Joyce, who lived in Paris from 1920 to 1940. The Irish writer had achieved fame with his 1915 novel, A Portrait of the Artist as a Young Man, and had started publishing his masterwork Ulysses in serial form in an American magazine called the Little Review. However, the serialization was halted in December 1920, after the U.S. Post Office brought a charge of obscenity against Joyce's work. Beach published the book herself in July 1922. It wasn't until 1933 that a U.S. judge permitted Ulysses to be distributed in the U.S.
1896- Sutro Bath opens in San Francisco .
1908- Southwestern Baptist Theological Seminary was chartered in Waco, Texas. Originally named Baylor Theological Seminary, the school campus relocated in 1910 to Fort Worth.
1912- bandleader Les Brown born Reinerton, PA. He led a top dance band for 40 years, beginning in 1938, was born in Reinerton, Pennsylvania. Les Brown and his Band of Renown had hit records in 1941 with "Jumpin' Joe Dimaggio," in 1944 with "Sentimental Journey," featuring a vocal by Doris Day, and in 1948 with "I've Got My Love to Keep Me Warm." In 1947, Brown began his long association with Bob Hope, working with him on radio and TV and on overseas tours. Brown and his orchestra reappeared on the jazz charts in 1987 with the album "Digital Swing."
1913-Kansas was the first state to set up a “small claims court” to deal with cases involving not more than $20. The first court was at Topeka,KS, with W.H. Kemper as judge. The complainant could not be represented by counsel, but had to present his own case. strict rules of evidence and procedure were waived. The judgment rendered had the same force and effect, and was as binding as a judgment rendered in any court of record.
1919- Max Brand publishes his first novel, the Untamed. He is perhaps the most prolific writer of western stories, using over 21 pen names. His actual name was Frederick Faust. Unlike many western authors, Faust made no pretense to historical accuracy in his works. His novels concerned a mythic West of his imagination, and he rarely provided any identifiable geographical details or demonstrated any mastery of the minutiae of western life. His strength was his ability to tell a compelling story, and he had a keen sense of style. In The Untamed, Faust created the hugely popular Dan Barry, a peaceable man who avoided trouble whenever possible. However, when Barry or those he cares about were attacked, he was transformed and was capable of wreaking violent vengeance on wrongdoers. Faust continued Barry's story in two best-selling sequels. Besides gaining fame and fortune as the author of Max Brand westerns, Faust also created the character of Dr. Kildare for his medical thrillers. Faust died in 1944, having written an estimated 30 million words, including more than 500 western serials or short stories.
1918 - The first seagoing ship made of concrete was launched at Redwood City, CA, near San Francisco. The ship was named "Faith" and those who launched her had plenty of that. They had faith that the vessel wouldn't sink. It didn't. "Faith" cost $750,000 to build.
1922- orchestra leader Les Baxter was born in Mexia, Texas. In the 1950's, he was signed by Capitol Records as an arranger and recording artist. Baxter featured Latin American and jungle drum themes, as well as standard popular tunes. He had hits with "The High and the Mighty," "Unchained Melody" and "The Poor People of Paris," which went to number one in 1956. Baxter died in Newport Beach, California, on January 15th, 1996.
1923 - U.S. President Warren G. Harding became the first Chief Executive to pay taxes and account for his income. Harding's tax bill amounted to nearly $18,000.
1925-trumpet player Sonny Cohn born Chicago, IL
1928- Jack Teagarden cuts first solo “She's a Great, Great Girl! ( Vi 21326)
1931-The first movie theater specifically designed and built to show movies that were rear-project was the Trans-Lux Theater in Manhattan.
1932-singer Mark Murphy born Syracuse NY
1933 Birthday of Quincy Jones,Jr., American jazz composer, trumpeter, band leader and pianist. He composed film scores, TV show themes; record producer; arranger; 25 Grammys, Grammy´s Trustees Award in 1989, Grammy´s Legends Award in 1990; Musical Director for Mercury Records, then VP; established Qwest Records.
1934-jazz organist Shirley Scott born Philadelphia, PA. Recorded many records with husband tenor sax player Stanley Turentine
1935- 6-year-old actress Shirley Temple presses her hands in cement outside Grauman's Chinese Theater in Los Angeles. Since first winning attention with a song and dance in the 1934 movie Get Up and Cheer, Temple beat out Clark Gable, Fred Astaire, and Ginger Rogers to become America's biggest box office draw.
1937 - Fred Allen and Jack Benny met on radio in one of the biggest publicity gags ever. It was called, “The Battle of the Century.” The two comedians locked horns in the ballroom of the Hotel Pierre, exchanging torrid insults that were heard by the second largest audience in the history of radio. The ‘feud', incidentally, lasted for the next 12 years! This was probably the longest-running publicity stunt in history, too!
1937-The first birth control clinic run by a state government was opened in Raleigh, NC< when the North Carolina State Board of Health officially introduced a program setting up contraceptive clinics for poor married women in local maternity and child health services.
1937-The first blood bank to preserve blood by refrigeration for future use in transfusions was established by the Cook County Hospital, Chicago, Il.
1941 - Before Desi Arnaz sang "Babalu" on the "I Love Lucy" show, Xavier Cugat and his orchestra recorded the song with vocals by Miguelito Valdes, on Columbia Records.
Accentuate the Positive - Johnny Mercer
Saturday Night - Frank Sinatra
A Little on the Lonely Side - The Guy Lombardo Orchestra
(vocal: Jimmy Brown)
I'm Losing My Mind Over You - Al Dexter
1947-The first Navy commissioned officer who was African-American was Ensign John W. Lee of Indianapolis, IN, who was commissioned and assigned to the U.S.S. Kearsearge.
1950-“10 Most Wanted” List debuts: The Federal Bureau of Investigation instituted the “10 Most Wanted Fugitives” list to in an effort to publicize particularly dangerous criminals who were at large. From 1950 to 1998, 454 fugitives appeared on the list; 130 were captured. Generally, the only way to get off the list is to die or be captured. The FBI cooperates with the producers of TV's “America's Most Wanted” to further publicize these fugitives.
1951-Seoul, Korea, which had fallen to Chinese forces in January 1951, was retaken by United Nations troops during the Korean War.
Till I Waltz Again with You - Teresa Brewer
Don't Let the Stars Get in Your Eyes - Perry Como
Doggie in the Window - Patti Page
Kaw-Liga - Hank Williams
1955- The first Four Freshman album “Voices in Modern”: released on Capitol.
1957-the first four time National Women's Figure Skating champion was Carol Elzabeth Heiss of Ozone Park, Queens, New York City, who won her first title this day at Berkeley, CA; her second and third in 1958 and 1959; and her fourth consecutive title on January 29,1960 at Seattle, was winner of the National Women's figure
1958 - The Recording Industry Association of America (RIAA) certified the first gold record. It was Perry Como's "Catch A Falling Star" on RCA Victor Records. The tune became the first to win million-seller certification. The next three gold records that were certified after Perry Como's million seller were the 45 rpm recordings of "He's Got the Whole World in His Hands" by Laurie London, "Patricia", an instrumental by the ‘Mambo King', Perez Prado and "Hard Headed Woman" by Elvis Presley. The first gold album certification went to the soundtrack of the motion picture, "Oklahoma!" featuring Gordon MacRae.
1959 - Elvis Presley made the album charts, with "For LP Fans Only", the first LP ever issued without the artist's name anywhere on the cover. However, it has his face over most of the front cover.
1960-Sam Cooke kicks off his first tour of the West Indies with a concert in Montego Bay, Jamaica. In the next two weeks, Cooke will set attendance records everywhere he appears.
Pony Time - Chubby Checker
Surrender - Elvis Presley
Where the Boys Are - Connie Francis
Don't Worry - Marty Robbins
1961- Baseball Hall of Fame Kirby Puckett birthday, Chicago, IL.
1962-Wilt Chamberlain of the Philadelphia Warriors completed a stretch of 47 consecutive games during which he played every minute. The streak , begun January 5 against the Syracuse Nationals and concluded against the Chicago Packers, stands as an NBA record.
1962-Righy wing Gordie Howe of the Detroit Red Wings became the second player in NHL history to reach the 500-goal mark when he scored in a 3-2 loss to the New York Rangers. Howe wound up with 801 goals and entered the Hockey hall of Fame in 1972.
1964 - Jack Ruby was found guilty of the murder of Lee Harvey Oswald, alleged assassin of United States President John F. Kennedy.
1964- Billboard reports Beatle records have claimed 60-percent of the singles market.
1968 –Batman TV Show came to an end after two seasons on television--- ABC-TV showed the last episode of "Batman", starring Adam West and Burt Ward as Robin. The first "Batman" episode was "Hi Diddle Riddle", shown on January 12, 1966. The pilot program for "Batman" cost $300,000 -- quite expensive by 1966 standards. Through the two seasons, the ‘Dynamic Duo' welcomed these stars to the cast: Art Carney (The Archer), Tallulah Bankhead (Black Widow), Eartha Kitt (Catwoman), Julie Newmar (Catwoman), Lee Meriwether (Catwoman), Liberace (Chandell), Vincent Price (Egghead), Cesar Romero (The Joker), Rudy Vallee (Lord Phogg), Milton Berle (Louie the Lilac), Shelley Winters (Ma Parker), David Wayne (The Mad Hatter), Zsa Zsa Gabor (Minerva), Van Johnson (The Minstrel), Otto Preminger (Mr. Freeze), Burgess Meredith (The Penguin), John Astin (The Riddler), Frank Gorshin (The Riddler), Cliff Robertson (Shame), Joan Collins (The Siren) and Anne Baxter (Zelda the Great). Victor Buono ( King Tut), Eli Wallach ( Mr. Freeze II), "?" as False Face, Leslie Gore ( as Cat Woman's sidekick that had a crush on Robin) and of course Nelson Riddle (of Frank Sinatra fame) doing the theme. Finally, a partial list of official Bat-Noises: Aargh!, Ba-Boom! Clash!, Crunch!, Klonk!, Pow!, Splat!, Clunk! Eee-Yow! Ooof!, Powie! Swoosh!, Biff!, Conck! Ouch!, Klunkk!, Ka-Boom! Thunk! Boff! Crash!, Uggh!, Zam!, Zap! and others. Wow! Readers may have seen these works in Leasing News headlines.
Everyday People - Sly & The Family Stone
Proud Mary - Creedence Clearwater Revival
Dizzy - Tommy Roe
Only the Lonely - Sonny James
1969 - Less than one month after winning her first horse race, Barbara Jo Rubin became the first woman jockey to win at Aqueduct Race Course in New York. She rode Brave Galaxy to victory and into the winner's circle.
1972- California Governor Ronald Reagan pardoned country star Merle Haggard, who had served nearly three years in San Quentin on a burglary charge.
1972-Carole King won Grammys for Album of the Year for "Tapestry" and Record Of The Year for "It's Too Late." Carly Simon won the Grammy for Best New Artist.
1972 - The Cincinnati Royals announced their intentions to move the National Basketball Association franchise to Kansas City, Missouri. The Kansas City Royals baseball team was already there, so the basketball team became the Kings.
1972 - Cosmopolitan magazine released its controversial issue of actor Burt Reynolds in a nude pose. The issue was a quick sell-out, and it rejuvenated Reynolds's lagging acting career
1976-Jockey Bill Shoemaker won the 7,000 th race of his career aboard Royal Derby II, a horse that hadn't won in three years. Shoemaker became the winningest jockey in history in 1970, when he surpassed Johnny Longden's total of 6,032. The Shoe retired in 12990 after having ridden 8,833 winners.
Love Theme from "A Star is Born" (Evergreen) - Barbra Streisand
Fly like an Eagle - Steve Miller
I Like Dreamin' - Kenny Nolan
She's Just an Old Love Turned Memory - Charley Pride
1985 - Bill Cosby won four People's Choice Awards for "The Cosby Show". The awards were earned as the results of a nationwide Gallup Poll. Barbara Mandrell announced she was pregnant as she accepted her second award on the show. She mentioned “the child here tonight in my tummy.” Bob Hope won the award for All-Time Entertainer, defeating Clint Eastwood and Frank Sinatra for the honor.
Can't Fight This Feeling - REO Speedwagon
The Heat is On - Glenn Frey
Material Girl - Madonna
My Only Love - The Statler Brothers
1985-The first cabinet member indicted while in office was Raymond L. Donovan, secretary of labor under President Ronald Reagan from 1981 to 1985. Facing a trial for larceny and fraud in New York. Donovan resigned this day. He was acquitted of all charges on May 25, 1987, after an eight-month trial in New York City.
1985 - Bill Cosby captured four People´s Choice Awards for The Cosby Show. The awards were earned from results of a nationwide Gallup Poll. Barbara Mandrell stunned the audience by announcing that she was pregnant while accepting her second award on the show. Bob Hope won the award as All-Time Entertainer beating Clint Eastwood and Frank Sinatra for the honor.
1986- Frank Zappa played a drug czar on a "Miami Vice" episode.
1986- Microsoft goes public, closing the day at twenty-eight dollars a share, up seven dollars from the offering price. The offering, dubbed "the IPO of the year" by industry analysts, created a slew of instant tycoons as young Microsoft employees found their stock options suddenly worth something.
Microsoft was founded in the mid-1970s, when high school friends and fellow computer nerds Paul Allen and Bill Gates read a Popular Electronics article about a new microcomputer called the Altair 8800. The two had been programming computers since high school, where they developed a system called Traff-o-Data for analyzing traffic data, as well as a registration system that reportedly placed the two in the classes of the most attractive girls. Allen and Gates quickly developed a version of BASIC, a computer language, and licensed it to MITS, maker of the Altair. The two formed a company called Micro-Soft (they later dropped the hyphen). For the next five years, Microsoft concentrated on developing computer languages that would run on the variety of home computers that flooded the market in the late 1970s. Microsoft's lucky break came when operating system guru Gary Kildall of Digital Research missed a meeting with IBM executives because he was out flying his plane: Instead, IBM asked Microsoft for an operating system. Gates quickly purchased the rights to Seattle Computer Products' "Quick and Dirty Operating System" (QDOS), which became MS-DOS, the operating system powering the IBM PC, introduced in 1981. Today he is the world richest billionaire. $50BB
1992-About 40,000 people attend Farm Aid Five in Irving, Texas. The show is hosted by Willie Nelson and features performances by John Mellencamp, Neil Young and Paul Simon.
1996 - United States President Bill Clinton committed $100 million for an anti- terrorism pact with Israel to track down and root out Islamic militants.
1997- thousands of fans in Corpus Christi mobbed the Texas premiere of "Selena," the film biography of the Tejano music star shot and killed two years earlier by the president of her fan club. Stars attending included Jennifer Lopez, who played Selena, and Edward James Olmos, who portrayed the singer's father.
1997- Joey Mullen of the Pittsburgh Penguins became the 25 th player in National Hockey League history and the first American to score 500 regular-season goals. His tally came in a 6-3 loss to the Colorado Avalanche.
1998 - Will Smith's hit single "Gettin' Jiggy Wit It' soared to Number 1, and stayed in the top position for 3 weeks.
2003-Police arrested 80 anti-war protesters in the SF financial district. They included Warren Langley, former head of the Pacific Exchange.
The Sound of the Trees
by Robert Frost
I wonder about the trees
Why do we wish to bear
Forever the noise of these
More than another noise
So close to our dwelling place?
We suffer them by the day
Till we lose all measure of pace,
And fixity in our joys,
And acquire a listening air.
They are that that talks of going
But never gets away;
And that talks no less for knowing,
As it grows wiser and older,
That now it means to stay.
My feet tug at the floor
And my head sways to my shoulder
Sometimes when I watch trees sway,
From the window or the door.
I shall set forth for somewhere,
I shall make the reckless choice
Some day when they are in voice
And tossing so as to scare
The white clouds over them on.
I shall have less to say,
But I shall be gone.