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Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.
   



Monday, May 9, 2011


Today's Equipment Leasing Headlines

  Classified Ads---Controller
Nations Equipment Finance Joins “Funder ‘A’ List”
 also "Funder Looking for New Broker Business List”
  Shivers Secures $25 Million Line with Wells
 Marlin Profit Down due to hiring more sale personnel
  Resource America/LEAF Financial---Trend Continues Down
   by Christopher Menkin
    Charlie Chan Saying…
     Premier American Assumes 7th Bank Failure in Florida
 Leasing 102 by Mr. Terry Winders, CLP
  “Provisions left out of Lease Documents”
    Top Stories---May 2--May 6
     2nd China International Financial Leasing Convention--Free
 Thor/Queen to Play
  Movie/DVD Reviews by Fernando F. Croce
   Blue Valentine/No Strings Attached/Something Wild
    Norfolk, Connecticut---Adopt-a-Dog
     2011 Leasing Association Conferences---Up-Date
News Briefs---
 Textainer (lessor) Invests $506.5 Million in New Boxes
  Wells Fargo ups mortgage legal loss by $1.2 billion
   FASB Chair Answers Push for Private-Company GAAP
    The rise of tablet computers--May replace Laptops
     Now to Sell Advertisers on Tablets
      European Ventures Seek to Fill a Void in World News
       Simon Cowell, Paula Abdul together again

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

85% of college grads return to nest
  You May have Missed---
   Sports Briefs
    California Nuts Briefs
     "Gimme that Wine"
       This Day in American History
        SuDoku
         Daily Puzzle
           GasBuddy
            Weather, USA or specific area
             Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.


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

Classified Ads---Controller

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

Chicago, IL
experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating.
Email: leasecontroller@comcast.net
Southeastern, MI
Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate.
Email: Leasebusiness@aol.com
Acton, MA
Strong experience in lease accounting, operations, & systems.  
Implemented lease plus, Great Plains, networks.
Excellent financial reporting and analysis skills. Looking for new opportunity.
LinkedIn
alexanderzlenz@gmail.com| Resume

Southern CA
20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant.
Email: leasecfo@gmail.com


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

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


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

Nations Equipment Finance Joins “Funder ‘A’ List”
also "Funder Looking for New Broker Business List”


Nations Equipment Finance is a commercial finance company founded by former GE Capital equipment finance professionals; backed by Boston-based investment owner Abrams Capital.

Led by Phil Carlson, the former GE executives in its first six months in business booked $36 million in loans and leases.

"We've worked together the last 17 years, and during that time we originated and managed multibillion-dollar portfolios of equipment leases and term loans in various industries," said Carlson, president and chief executive officer.

Target Transaction: Individual transaction size: $500k - $25MM+ Structures: Term Loan, (True) Lease, Sale Leaseback
Collateral: Generally critical use equipment such as manufacturing, construction, transportation, energy/mining, marine, aircraft, and up to $2MM of owner occupied real estate. No: FF&E, telecomm, IT, high tech.
Term: 2 – 7 years
Advance rates: Generally 75% -> 100% of OLV/FMV
Club Deals: We will work with other lenders/lessors Books $36 Million First Six Months in Business

Name
In Business Since
Contact
Website
Leasing Association
Employees
Geo
Area
Dollar
Amount
Business Reports
A
B
C
D
E
National Equipment Finance
Norwalk, Conneticut
2010
Michael B. Tornichia
Vice President Business Development
T 201-248-0496
F 415-520-5535 mtornichia@nationsequipmentfinance.com www.nationsequipmentfinance.com
*Will work with other lenders/lessors
(see footnote for more information)
20
USA and Canadal

500k-25mm +

Y
N
N
N
Y

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen

Funder “A” List:
http://www.leasingnews.org/Funders_Only/Funders.htm

Funder looking for new broker business list:
http://www.leasingnews.org/Funders_Only/New_Broker.htm


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

Shivers Secures $25 Million Line with Wells


Gary Shivers, founding president of Marlin Business Services, started Navitas Lease Corp. September, 2008, Ponte Vedera Beach, Florida, after his non-compete clause ended from his termination buy-out from Marlin. It is no secret he was squeezed out. He was president of Marlin Business services from 1996 to 2007, previously Executive Vice-President of Advanta Leasing Corp from 1986 to 1996.
http://www.linkedin.com/pub/gary-shivers/3/773/491

Shivers has been waiting for a turn around in the small ticket marketplace and is now ready to move forward with a three year $25 million Senior Securities Credit Facility with Wells Fargo Capital Finance, part of Wells Fargo and company. Navitas aim “… is through providing equipment financing to small and medium sized businesses nationally, primarily through development referral programs with equipment vendors.” He has established multiple sources of financing to support the growth plan.

"We are very pleased to have the support of Wells Fargo Lease Finance Group, an industry leader in Lender Finance," he said " We believe that the opportunity to become the leading provider of financing for small to medium sized vendors and their customers is substantial. We have made a significant investment in our management team, sales force, and operating platform which has allowed us to develop a unique approach to the market, giving us a competitive edge against other lessors in the market.”

Andrea Petro, division manager of the Lender Finance division of Wells Fargo Capital Finance, said, "We are pleased to have established a relationship with Navitas Lease Corp.," said "We look forward to supporting Gary Shivers and his company's senior management team in its plans for the successful growth of their business."

www.navitaslease.com

John Kenny Receivables Management
www.jrkrmdirect.com

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

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

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



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

Marlin Profit Down due to hiring more sale personnel



Despite the income from leases and residuals, profit was down compared to the previous quarter for Marlin Business Services, Mount Laurel, New Jersey, primarily they claim due to the expense of hiring more salesmen. Three months ending 2010 was$1.2 million; 2011 it is $754,000. Marlin reports their sales force "grew to 94 full-time equivalents from 87 in the fourth quarter of 2010 and 53 in the first quarter of 2010, a 77% increase over the prior year," they state in their press release.

Page 26, SEC 10Q
(click to see larger)

"Other expenses increased $1.3 million, or 15.7%, for the three-month period ended March 31, 2011 compared to the three-month period ended March 31, 2010, primarily due to increased salaries and benefits expense related to increased sales staffing levels."
   Page 30, SEC 10Q

"Approval rates also rose from 46% for the quarter ended March 31, 2010 to 56% for the quarter ended March 31, 2011 due to the improved credit quality of the applications received and adjustments made to credit policy in light of the improved economic conditions.... “
   Page 26, SEC 10Q

"During the three months ended March 31, 2011, we generated 3,984 new leases with a cost of $47.0 million, compared to 2,476 new leases with a cost of $23.6 million generated for the three months ended March 31, 2010...”
   Page 30, SEC 10Q

Approval rates also rose from 46% for the quarter ended March 31, 2010 to 56% for the quarter ended March 31, 2011 due to the improved credit quality of the applications received and adjustments made to credit policy in light of the improved economic conditions.
   page 30

For the quarter ended March 31, 2011, our annualized net credit losses were 2.30% of our average total finance receivables. We establish reserves for credit losses which require us to estimate inherent losses in our portfolio as of the reporting date.
   page 26

Again, renewal income provided the profit to Marlin Business Services:
"Our leases generally include renewal provisions and many leases continue beyond their initial contractual term. Based on the Company's experience, the amount of ultimate realization of the residual value tends to relate more to the customer's election at the end of the lease term to enter into a renewal period, purchase the leased equipment or return the leased equipment than it does to the equipment type. We consider renewal income a component of residual performance. Renewal income net of depreciation totaled approximately $2.0 million and $1.9 million for the three-month periods ended March 31, 2011 and March 31, 2010.

"Our leases offer our end user customers the option to own the purchased equipment at lease expiration. As of March 31, 2011, approximately 66% of our leases were one dollar purchase option leases, 31% were fair market value leases and 3% were fixed purchase option leases, the latter of which typically contain an end-of-term purchase option equal to 10% of the original equipment cost. As of March 31, 2011, there were $36.1 million of residual assets retained on our Consolidated Balance Sheet, of which $29.6 million, or 82.0%, were related to copiers. No other group of equipment represented more than 10% of equipment residuals as of March 31, 2011 and December 31, 2010, respectively. Improvements in technology and other market changes, particularly in copiers, could adversely impact our ability to realize the recorded residual values of this equipment."
   Page 37, SEC 10Q

On September 24, 2010, the Company's affiliate, Marlin Leasing Receivables XIII LLC ("MLR XIII"), closed on a $50.0 million three-year committed loan facility with Key Equipment Finance Inc. The facility is secured by a lien on MLR) (Ill's assets. Advances under the facility are made pursuant to a borrowing base formula, and the proceeds are used to fund lease originations. The maturity date of the facility is September 23, 2013. An event of default such as non-payment of amounts when due under the loan agreement or a breach of covenants may accelerate the maturity date of the facility.
   Page 27, SEC 10Q

Marlin 10Q 3/31/2011 (53 pages):
http://leasingnews.org/PDF/Marlin10Q_511.pdf

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Gary DiLillo, President 216-658-5618 or gary@avptc.com


[headlines]
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Resource America/LEAF Financial---Trend Continues Down
by Christopher Menkin

Resource America, Inc., (NASDAQ-REXI) Philadelphia, Pennsylvania reported their last quarter, which was the first half of the year for them. While the headline discussed "non-GAAP," a look at the consolidated financial statement shows a net loss of $4.26 million for the last three months with a total $4.83 million loss for the six months ending March 31, 2011, meaning the first quarter was much
better than the second.

Much of this is due to loss of revenues, and while the balance sheet looks good, in comes from "additional paid in capital." The real concern is the current ratio, going 2 to 1 the wrong direction with restricted cash of $21.4 million as borrowings are also up from the last three months to $180.6 million (see below from consolidated balance sheet).

Six Months—March 31, 2011 to September 30, 2010

(in thousands-consolidated financial statement)

To give the actual numbers from the press release ( not SEC filing) perhaps says it best of all, as six month ending March 31, 2010 the commercial finance revenues were $16.2 million and 2011 are $7.9 million. First three months are up, but the six month ending are down, primarily due to “commercial Finance:”


(in thousands)

While the argument can be made about assets, this company has basically earned its cash flow from management income, with the equipment leasing division perhaps the best example, and an indication of the problem.

The Cohen families are major shareholders and rumors that they would buy back the company have been floating since the end of their last year financial statement. There are major natural gas holdings in Pennsylvania, and the Edward E. Cohen (1) and his families holding in Atlas Energy gives them the ability to buy the company back from the public, but what is their gain, as the cash flow is not positive. There are other indicators of this, and note the borrowings. While they have the ability, the question is what is value in doing so? Definitely Edward E. Cohen’s deep pockets, integrity, and high regarding in the financial community, as evidenced by his very articulate interview on “Mad Money” (2) and recent opening of the New York Stock Exchange (3) as well as Chevron acquiring Atlas Energy for $4.3 billion are indications of the family’s abilities (4).

As important his son Jonathan Z. Cohen, CEO of Resource America, former COO, has seen Resource America the stock go up from $3.50 to Friday’s closing of $6.12.

The only advantage in taking the company private would be not having to report to the Security Exchange Commission, although it does have value to investors; however, with the Cohen’s involved, perhaps that is not as important to the marketplace. The trend toward more apartment living and property management is growing, as well as the fees involved are attractive.


Friday, May 6, 2011 Closing

According to Chip Brian of SmarTrend.com, “SmarTrend identified a Downtrend for Resource America (NASDAQ:REXI) on February 14, 2011 at $6.41. In approximately 3 months, Resource America has returned 5.2% as of today's recent price of $6.07.

“In the past 52 weeks, shares of Resource America have traded between a low of $3.50 and a high of $7.47 and are now at $6.07, which is 73% above that low price.

“Resource America is currently below its 50-day moving average of $6.34 and should find support at its 200-day moving average of $6.03. Look for these moving averages to decline to confirm the company's downward momentum.”

In the latest press release (SEC filings not made at this time) there are acquisition and management fees mentioned, such as receiving a $64,000 acquisition fee and management fees and debt serving fees on two of the loans to be received in the future, plus the proceeds of the sale of apartments, and that its property management subsidiary increased from 52 properties managing 14,913 units to 54 properties managing 14,456 units, the condition of its leasing entity LEAF Financial, as well as the new entity of LEAF Commercial, apparently underwritten by Guggenheim Securities, LLC, gives a better look into the on goings of the parent.

The press release states:
"-- Lease Origination/Platform Expansion: LEAF Commercial continues to focus its origination efforts to better serve its equipment vendor customers, support its independent equipment dealers and enhance its manufacturer branch networks through its full service processing center in Moberly, MO. In addition, through its Philadelphia, PA processing center, LEAF Commercial will support the captive finance arms of its manufacturer clients, as well as bank outsourcing and direct marketing to end users in select vertical markets."

As reported earlier, LEAF Financial is working on a skeleton staff, and most business is from the computer division in Moberly, Missouri ( formerly Dolphin Capital).

"-- Increased Key Metrics: As a result of the capital raise announced in January 2011 and the refocusing of resources on the expansion of the platform, our commercial finance operation has shown significant increases in key business metrics for the second fiscal quarter ended
March 31, 2011 as compared to the first fiscal quarter ended December 31, 2010:

Credit Applications up 31%
Lease Originations up 73%
Approved Backlog up 79%

While these numbers look "attractive," they are not. Credit applications being up 31% is no big deal. When approved backlog exceeds lease originations it means the lessees aren't signing the lease contracts. Whoever posted this, didn’t understand.

It says – “In addition, through its Philadelphia, PA processing center, LEAF Commercial will support the captive finance arms of its manufacturer clients, as well as bank outsourcing and direct marketing to end users in select vertical markets.”

As Leaf Commercial approached the vendor market, they will have to overcome the negative reputation and past baggage left by Leaf Financial. It certainly won’t be easy if all they intend to do is go after the same type of business they did before.

In January, the main staff at LEAF Financial was down to about 15 in Collections and another 5 in Litigation within Jim Grant Collections and Litigation department; that’s about 1/3 of staff left, according to Leasing News sources.

The facts remain that Bob Hunter, Executive Vice President of Sales & Marketing, on the Executive Board, is gone, Bill Conway laid off, Vice-President of Credit, Colleen White, Director of Operations laid off, and a host of others, as well as the 2009 SEC LEAF filings showed 377 employees; February down to 271; reportedly to 113 in July, closes down LEAF Specialty, 80 in Missouri, the copier division with extremely low rates (5), and with the latest cuts, the unofficial count is 11, mostly executives who have been with CEO Crit DeMent at previous companies.

The SEC filings show 688 employees for Resource America, in which LEAF Financial would have been one of their largest units below:

Jonathan Cohen, CEO and President, in the Resource America press on the last three months points to the growth in real estate revenues, but states,” Our balance sheet is in good shape with approximately $16.5 million in cash and after the closing of our non-core real estate sale in June (under contract now) we expect to book a gain of $8.5 million and take in approximately $17 million of additional cash after taxes."

It does not answer the losses in the LEAF Financial funds or in the refinancing costs as well as the employee cutbacks, which have been quite dramatic.

Full Press Release:
http://leasingnews.org/PDF/ResourceAmericaRelease511.pdf

(1) Resource America Management Team:
http://leasingnews.org/PDF/resourcemanagement.pdf

(2) Atlas Energy CEO Ed Cohen on CNBC's Made Money 4-27-10 (8:13) (before Chevron $4.5 Billion 11-9-10)
http://www.youtube.com/watch?v=jsta3PAc8_M

(3) April 28, 2011 Atlas Energy Rings the NYSE Closing Bell
http://www.youtube.com/watch?v=uWQVOyFRTVY

(4) Chevron $4.5 Billion announcement (11-9-10)
http://www.youtube.com/watch?v=PpKv0dSuqRM

(5) LEAF Copier Rates:
http://www.leasingnews.org/PDF/LeafRates_511.pdf


[headlines]
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[headlines]
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Premier American Assumes 7th Bank Failure in Florida



The two branches of Coastal Bank, Cocoa Beach, Florida were closed with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits. This is the 40th bank to fail this year and the fifth in Florida.

The bank was established February 17, 1999 and had 28 full time employees at Cocoa Beach and Merritt Island.


View on the island featuring Hilton Cocoa Beach Hotel


View from La Quinta Inn & Suites



View from Doubletree Oceanfront Hotel

As of March 31, 2011, Coastal Bank had approximately $129.4 million in total assets and $123.9 million in total deposits. The FDIC and Premier American Bank, N.A. entered into a loss-share transaction on $108.2 million of Coastal Bank's assets.

March 31, 2011 financial were not on file with the FDIC, but net equity year-end 2009 was $10.7 million and down to $6.7 million with non-current loans of $16.4 million following a lost of $1.9 the previous year and $3.9 million year-end 2010 with charge offs of $1.7 million in construction and land development, $1.2 million in 1-4 family residential properties, $524,000 in nonfarm nonresidential properties. Tier 1 risk-based Capital ratio: 3.83%


Premier American Bank since its formation in April 2009, Bond Street has raised approximately $740 million and its wholly-owned subsidiary Premier American has acquired certain of the assets and assumed certain liabilities (including substantially all deposits) of 7 failed banks in Florida from the FDIC and now operates 39 branches from Naples to Sarasota and Brooksville on the West Coast of Florida, Miami to Daytona Beach on the East Coast of Florida, and Orlando in Central Florida. It now has become the sixth largest bank in Florida, at the same time, creating a "win-win" for the FDIC.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.4 million.

Tracking Bank Failures Map:
http://graphicsweb.wsj.com/documents/Failed-US-Banks.html

List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html

Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm




[headlines]
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Leasing 102
by Mr. Terry Winders, CLP




“Provisions left out of Lease Documents”

Over the years many provisions in the older commercial equipment lease documents have been cut out for many reasons. The best reason was when Article 2A was adopted it carried a lot of the old provisions so all we had to do was state very clearly that both Lessee and Lessor agreed in the language of the lease agreement that the it would be governed by Article 2A. However, you still have to qualify as an Article 2A transaction to get the value of these provisions.

Article 2A supports the three party lease arrangements that provide theLessor with protection against claims of nonperformance of the equipment by the lessee. This specifically provides the Lessor is passing the “supply contract” (vendor warrantees and guarantees) on to the Lessee. That is until you release the equipment to someone else and make the lease a two party lease. Then you need to include all of those provisions about your lack of support for equipment performance.

If you are offering a true lease and plan to reduce the lessee’s lease payment by the value of the depreciation benefits, perhaps you should put back in the provision that states any change in the corporate tax rate will result in an adjustment to the remaining payment s, so the Lessor can retain his yield requirement. In 1981 the federal corporate tax rate was 46%. The Reagan administration reduced it to the current rate of 34-35%. With the current economic crises the chances of congress adjusting the corporate tax rate higher is very strong. Without the corporate tax rate indemnity provision, you yield will suffer greatly.

Some Lessor’s fail to follow for insurance, so they require it in the lease agreement, but fail to separate it as a default with provisions that allow the Lessor to act for the lessee and obtain coverage at lessee’s expense. Small or cheap items can cause major injuries to people or property and even though you may not be held responsible, the legal costs can be devastating.

Return provisions are coming under fire in the courts due to the lack of instructions or the complete indifference of the Lessor. The return provisions cannot require the lessee to return the equipment in like new condition but it can require the lessee to make sure it is in working condition, with no damage and properly maintained. Without this type of language your transaction looks like a loan.

Statement of lease requirements post termination date. Most leases fail to require the lessee to return the equipment to the Lessor “by” the termination date. In addition any failure to do so should require additional rent or a penalty rent until the equipment is returned. This should be augmented that the equipment may not be returned unless it is the condition required by the return conditions. So the penalty rent is an incentive to be quick about it.

Of late, it is also important to include a statement confirmed by the lessee called the “prevention of the ignorance plea” where they state that they have had ample time to review the transaction or have it reviewed by experts so that they are aware of what they are signing and accept the responsibilities contained therein. This prevents the lessee from stating that they had no idea what a lease was about and therefore would not have signed it if they had understood it.

If you are offering a true lease and plan to reduce the lessee’s lease payment by the value of the depreciation benefits, perhaps you should put back in the provision that states any change in the corporate tax rate will result in an adjustment to the remaining payment s, so the Lessor can retain his yield requirement. In 1981 the federal corporate tax rate was 46%. The Reagan administration reduced it to the current rate of 34-35%. With the current economic crises the chances of congress adjusting the corporate tax rate higher is very strong. Without the corporate tax rate indemnity provision, you yield will suffer greatly.

Leases can be modified with some provisions left out provided they are constructed for defined markets and loss reserves established to cover losses beyond standard charge-offs. However, the argument that it hurts business to have a long lease is nonsense. Properly explained and given time to review most lessees will not refuse to sign based on the length of the agreement! Perhaps you should go to a Master lease concept so they only have to sign a large document once.

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

He invites your questions and queries.

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

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

[headlines]
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Top Stories---May 2 - May 6


Here are the top ten stories opened by readers:

(1) Five Point Capital, San Diego, California
Bulletin Board Complaint
http://leasingnews.org/archives/May2011/5_04.htm#fivepoint_bbc

(2) Bank President Found Dead, Georgia takes two hits,
including CEO indicted by Feds over TARP money---
http://leasingnews.org/archives/May2011/5_02.htm#bank_beat

(3) Bennett Receives 30 Year Prison Sentence
Bennett Funding---Archives May 2, 2000
http://leasingnews.org/archives/May2011/5_02.htm#archives_bennett

(4) LEAF Commercial Credit Wells Line of Credit
by Christopher Menkin
http://leasingnews.org/archives/May2011/5_04.htm#leaf_credit

(5) From the Desk of Michael J. Witt, Esq.
Automatic Renewal: A Different Perspective
http://leasingnews.org/archives/May2011/5_04.htm#auto_renewal

(6) "Broker/Lessor" looking for broker business
http://leasingnews.org/archives/May2011/5_04.htm#broker_look

(7) Leasing 102 by Mr. Terry Winders, CLP
Additional Vendor Programs”
http://leasingnews.org/archives/May2011/5_02.htm#vendor

(8) Don’t Mess with a Writer
Leader of bin Laden attack was journalism grad

(9) Franchise Industry Report
by Bob Rodi, CLP
http://leasingnews.org/archives/May2011/5_02.htm#franchise

(10) Buffett frets on bank profit outlook, likes Wells/US Bank
http://www.reuters.com/article/2011/04/30/us-berkshire-banks-idUSTRE73T1LD20110430



[headlines]
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*****Announcement**************************************

2nd China International Financial Leasing Convention--Free


“I am Siming Li, Chairman of China Leasing Business Association, the largest leasing association managed by China Ministry of Commerce. On May 25th, 2011, we are going to host the second China International Financial Leasing Convention together with China Bank Leasing Association, ELFA, CFLA (Canada), Leaseurope and AELA (Australia). This is the first time that the key leasing associations around the world work together to make a great event for the leasing industry.

“I know your online news is very well known in the leasing community and I started receiving your daily news 3 years ago when I was CIT Asia Managing Director. Would you be so kind to announce this event in your daily news so that more leasing professionals will have a chance to know this event and may come to learn the most updated information of China financial leasing industry from the senior government officials as well as the key players in China?

“For your information, this event is free of charge and all the costs are covered by the Government and several large local leasing companies.

“Should you have any questions, please let me know.

“Thanks and with my best regards,”

Siming Li
Chairman of China Leasing Business Association of CAEFI
Chief Executive Officer of UniTrust Finance & Leasing Corporation
Add: 10F, Henderson Metropolitan
No.300 East Nanjing Rd., Shanghai, 200001, China
Tel: (86 21) 6135 5388 ext. 5318
Mobile: (86) 15000 582368
http://www.utfinancing.com

Invitation Letter:
http://leasingnews.org/items/invitationletter511.doc

Second China Application Form:
http://leasingnews.org/items/2ndChinaApplicationForm.doc

*****Announcement***************************************

[headlines]
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Fernando's View
By Fernando F. Croce

The robust action of “Thor” and the subtle intelligence of “Queen to Play” give moviegoers a yin-yang of new releases, while DVD watchers can settle down with the critically acclaimed “Blue Valentine,” the comic hit “No Strings Attached,” and the 1980s masterpiece “Something Wild.”

In theaters:

Thor (Paramount Pictures): No blockbuster season is complete without at least one adaptation of a Marvel Comics character, and fans may have a doozy with this year’s offering. The superhero getting the big-screen treatment this time around is Thor (Chris Hemsworth), a mighty warrior whose arrogant actions lead his people onto war and destruction. As punishment, his father Oki (Anthony Hopkins) banishes him to the land of humans, where he learns humility through the love of a young scientist, Jane (Natalie Portman). When his enemies come looking for him and endanger his newfound home, however, Thor must use his powerful hammer to save his friends, as well as his soul. Best known for his Shakespeare adaptations, Kenneth Branagh directs this rollicking adventure, which rivals the “Iron Man” movies in action and humor.

Queen to Play (Zeitgeist Films): For quieter but just as stimulating thrills, give this soulful comedy-drama a chance. One of French cinema’s greatest actresses, Sandrine Bonnaire stars as Helene, a lovely but somewhat mousy chambermaid whose repressed life gets a shot of energy after she develops an interest in playing chess while working at a sunny Corsican resort. Getting tips from Dr. Kroger (Kevin Kline), the mysterious American expatriate whose home she cleans, Helene taps into unexplored intellectual resources and develops a surer sense of self. But how will her obsession with chess strategies affect her family? Directed by Caroline Bottaro, the film provides a wise and gentle portrait of a woman’s awakening, with the added bonus of watching Kline act (delightfully) in French. With subtitles.


Netflix Tip: Missed Prince William’s royal wedding last weekend? Don’t worry, Netflix has you covered when it comes to lavish regal ceremonies. Start with “Royal Wedding” (1951), a Fred Astaire musical that features real footage of the wedding of Queen Elizabeth II. Then follow it with “The Reluctant Debutante” (1958), a charming comedy about the cultural clash between British and American bluebloods. And then top it off with “Roman Holiday” (1953), with the incandescent Audrey Hepburn as the princess of everybody’s dreams.

On DVD:


Blue Valentine (The Weinstein Company): Ryan Gosling and Michelle Williams deliver superb performances in this frank, deeply affecting drama dealing with scenes from a marriage. Gosling and Williams play Dean and Cindy, a young married couple who, after years together, are starting to show signs of anxiety and tension in their daily lives. As they remember their earlier encounters and happier times with family and friends, the two come face to face with the painful realization that their emotions for each other may have turned sour. Will they be able to rekindle their feelings, or has their love stagnated beyond repair? Taking a revealing and painfully honest look at modern relationships, director Derek Cianfrance’s small-scaled yet poignant film is an alternately brutal and tender emotional ride.


No Strings Attached (Paramount Pictures): Taking a break from dramatic intensity after her Oscar-winning turn in “Black Swan,” Natalie Portman tries her hand at comedy with this breezy romance directed by genre veteran Ivan Reitman (“Stripes,” “Ghostbusters”). Portman stars as Emma, a medical student who has crossed paths with Adam (Ashton Kutcher) since their young days at summer camp. He wants them to become boyfriend and girlfriend, but she has a more unconventional idea: To enjoy the benefits of romance without the need to turn it into a serious relationship. But as their dates become increasingly intimate, can they resist the urge to fall in love? Boasting nervy yet light direction by Reitman and a first-rate supporting cast that includes Kevin Kline and Olivia Thirlby, this is a sharply comic look at relationships.


Something Wild (Criterion): Best known for his Oscar-winning suspense thriller “The Silence of the Lambs,” director Jonathan Demme provided some of the brightest moments of American movies during the 1980s with a series of original and marvelously human comedies. This 1986 blast finds Demme’s at his peak, Combining the exhilaration of screwball classics with a darker undercurrent of danger, the story follows the very unlikely pairing of Charles (Jeff Daniels), a straight-arrow yuppie, and Lulu (Melanie Griffith), the free-spirited woman who takes him on an unpredictable weekend away from his predictable life. Their fun takes a sudden turn, however, when Lulu’s violent ex-boyfriend (Ray Liotta) turns up. Beautifully performed by the three main actors and able to shift from hilarious to frightening in a second, Demme’s movie overflows with volatile delights.

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Norfolk, Connecticut-- Adopt-a-Dog



Johnny Cash
Black Labrador Retriever/German Shepherd
One year old, house trained, gentle
Neutered/Up-to-Date with Shots

“Cash was adopted as a pup but due to the sudden change in health of his owner, he has returned to the rescue for adoption. He was one of a litter of 7 and all of his siblings are doing great. He is now almost a year old. He is great with other dogs, cats and kids. They were found living in a storm drain with their mother. Sadly, their mother was hit by a car and they are now orphans. Their mother was a shepherd mix. We do have pictures of her when she was found in the drain protecting her puppies.

“He LOVES the water. He loves water so much that even his water bowl is exciting! He is so friendly and absolutely loves everyone he meets. He is gentle around small children. He will attempt to jump up at first but responds well to being told no. He is housetrained and crate trained. He loves life and is just a super friendly guy.

“All of our dogs are microchipped and come with 30 days free pet insurance. If you are interested in this pet, please download an application from our website at www.tailsofcourage.org and email to tailsofcourage@optonline.net, or send us an email and request an application. “

Adoption fees vary. We are NOT a shelter, please be respectful of the hours you call. Thank you.

Tails of Courage, Norwalk, CT
tailsofcourage@optonline.net
http://www.tailsofcourage.org/index.htm

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

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



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Leasing Association 2011 Conferences





Registration is open for the AGLF/ELFA Public Sector Finance Forum. The agenda is designed to help equipment-finance professionals understand trends in the municipal-leasing marketplace and explore opportunities with public-sector equipment leasing.

Program highlights

  • Keynote speaker Beth Ann Bovino, senior economist at Standard & Poor's

  • Keynote speaker Eugene L. Munin, budget director for Chicago

  • Lease Accounting Issues for Lessors and Lessees

  • Federal Government: Termination Rights and Federal Services Contract

  • State and Local Bankruptcy, Defaults and Workouts in Governmental Leasing

  • A Road Trip From California to Illinois: Financing Situations

    Who should attend
    Experienced municipal lessors, as well as those seeking insight into the municipal-leasing market, plus business executives, document-management specialists, syndicators, credit rating agencies, municipal bond insurers, investment bankers, government officials, manufacturers, vendors, third-party lessors, attorneys, credit and sales personnel, and individuals interested in pursuing a business-development opportunity.

    See additional conference details. If you have questions about the conference, contact aglfmtg@talley.com.

Members register here:
http://secure.aglf.org/core/events/events.aspx




May 11-May 13
National Vehicle Leasing Association
The Allerton Hotel on Magnificent Mile
Chicago, Illinois

Members $595
Non-Members $895

More Information:
http://www.nvla.org/Events/AnnualConference.aspx




September 15-17
Minneapolis, Minnesota





October 14-15, 2011
Atlanta, Georgia



October 23-25
Equipment Leasing and Financial Association
50th Annual Convention
JW Marriott Hill Country
San Antonio, Texas




November 11-12
Costa Mesa, California

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To view Leasing Association Events-Meetings Open to All, please click here.

 



--- News Briefs

Textainer (lessor) Invests $506.5 Million in New Boxes
http://www.joc.com/maritime/textainer-invests-5065-million-new-boxes

Wells Fargo ups mortgage legal loss by $1.2 billion
http://www.bizjournals.com/dayton/news/2011/05/07/wells-fargo-ups-mortgage-legal-loss-1b.htm

FASB Chair Answers Push for Private-Company GAAP
http://www.cfo.com/article.cfm/14574386/c_14574168

The rise of tablet computers--May replace Laptops
http://www.chicagotribune.com/news/la-fi-tablet-era-20110506,0,7064961.story

Now to Sell Advertisers on Tablets
http://www.nytimes.com/2011/05/09/business/media/09carr.html?ref=business

European Ventures Seek to Fill a Void in World News
http://www.nytimes.com/2011/05/09/business/media/09englishnews.html?_r=1&hp

Simon Cowell, Paula Abdul together again
http://www.latimes.com/entertainment/news/tv/la-et-paula-simon-20110509,0,6861824.story






You May Have Missed----

85% of college grads return to nest






Sports Briefs----

How sweep it is: Mavs batter Lakers, 122-86, advance to West finals
http://www.dallasnews.com/sports/dallas-mavericks/headlines/20110508-how-sweep-it-is-mavs-batter-lakers-122-86-advance-to-west-finals-.ece

Divided Lakers Simply Got Lost
http://www.latimes.com/sports/la-sp-plaschke-lakers-20110509,0,2261550.column?track=rss

Hawks, Josh Smith bounce back in major way over Bulls
http://blogs.ajc.com/jeff-schultz-blog/2011/05/08/hawks-and-smith-bounce-back-in-a-major-way/

Sharks fail again to eliminate Red Wings, series heads to Game 6
http://www.contracostatimes.com/sports/ci_18022745?nclick_check=1





California Nuts Briefs---

SF Police Chief Greg Suhr starts cutting from the top
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/05/08/BAQK1JD2MS.DTL

What It's Like When Steve Jobs Chews You Out For a Product Failure
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/07/businessinsider-steve-jobs-mobileme-failure-2011-5.DTL





“Gimme that Wine”

Robert Parker on Bordeaux 2010: Another Great Vintage
http://blogs.wsj.com/wine/2011/05/04/robert-parker-releases-scores-for-bordeaux-2010-vintage/

38th State to Allow Winery Direct Shipping
http://www.businesswire.com/news/home/20110505006602/en/Free-Grapes!-Maryland-Wine-Lovers-Rejoice-Governor

Grgich to celebrate Paris tasting anniversary
http://napavalleyregister.com/star/business/article_c1b4d952-76cd-11e0-9cf5-001cc4c03286.html

A Wine to Call Our Own
http://www.nytimes.com/2011/05/05/garden/05garden.html?_r=2


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

Wine Prices by vintage
http://www.winezap.com

http://www.wine-searcher.com/

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

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

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


[headlines]
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This Day in American History

    1607- The first Episcopal Church service in an English colony took place at Cape Henry, near Jamestown, Virginia, when the Reverend Robert Hunt celebrated the Eucharist. The event was reported as follows: “ We did hang an awning ( whish is an old saile) to three or four trees, to shadow us form the sunne, our walles were railes of wood, our seats unhewed trees till we cut plankes; our Pulpit a bar of wood nailed to two neighboring trees.”
    1754 - The first American newspaper political cartoon was published. The illustration in Benjamin Franklin's Pennsylvania Gazette showed a snake cut into sections, each part representing an American colony; the caption read, "Join or die."
    1773-An American creation, the first newspaper cartoon was “Join or Die,” designed by Benjamin Franklin and published in Philadelphia, PA, in his newspaper, the Pennsylvania Gazette. It was printed in the first column of the second page. It depicted a snake cut into segments representing South Carolina, North Carolina, Virginia, Maryland, Pennsylvania, New Jersey, New York, and New England.http://memory.loc.gov/ammem/today/may09.html
    1783-The Purple Heart, the first honor badge for enlisted men and noncommissioned officers, was awarded to Sergeants Daniel Bissell, William Brown, and Elijah Churchill of Connecticut regiments, for meritorious action in the Revolutionary War. They were entitled “to wear on facings over the left breast, the figure of a heart in purple cloth or silk, with narrow lace or binding.”
http://www.americal.org/awards/ph.htm 
http://www.purpleheart.org/
    1796-William Blount and William Cocke of Tennessee, elected by the Tennessee legislature, present their credentials to the US Senate. They were refused seats because Tennessee was not admitted until June 1, 1796. They were elected again on August 2, 1796, and took their seats on December 6, 1796. Blount was impeached for concocting a plain to aid the British, but the procedure did not pass the US Senate; however during the trial he was elected to the Tennessee Senate, and eventually and became Speaker of the Senate.
http://www.lexrex.com/bios/wblount.htm
http://bioguide.congress.gov/scripts/biodisplay.pl?index=B000570
Cocke assumed the role of US Senate in the next term until the legislature elected another person (in these days the state legislature elected US Senate representatives). He later moved to Mississippi, served under General Andrew Jackson in the War of 1812, and afterwards was appointed Indian Agent for the US. http://bioguide.congress.gov/scripts/biodisplay.pl?index=C000572
    1800-birthday of John Brown, Abolitionist leader born at Torrington, CT, and hanged December 2, 1859, at Charles Town, WV. Leader of attack on Harpers Ferry, October 16, 1859, which was intended to give impetus to movement for escape and freedom for slaves. His aim was frustrated and in fact resulted in increased polarization and sectional animosity. The first civilian killed by John Brown's raiders at Harpers Ferry was a free Black man. History has made him the legendary martyr of the abolitionist movement; even Walt Whitman wrote a poem about Harpers Ferry. Unfortunately, the real facts are “He was a complete failure in business. He welched on his debts. He almost certainly was insane. And in 1856 he nearly plunged Kansas into civil war by ruthlessly murdering five helpless members of a mildly proslavery family, in the process “splitting open heads and chopping off arms and fingers.” Dixon Wecter, The Hero in American (1941)
http://jefferson.village.virginia.edu/jbrown/master.html 
http://www.johnbrown.org/
    1813-General William Henry Harrison turned back a siege of Fort Meigs by Shawnee military leader Tecumseh and British general Henry A. Proctor. Harrison was to become the ninth president of the United States, but for only a month, as he contacted pneumonia from a cold and died in office (the first president to die in office ).
http://memory.loc.gov/ammem/today/may09.html
http://www.whitehouse.gov/history/presidents/wh9.html
    1830- Birthday of Lane Harriet, who acted as official hostess in the White House for her uncle-bachelor James Buchanan, 15th president of the United States, and became known as America’s first lady. It is rumored that Buchanan was the first “gay” president .She is known as the first modern first lady (using her position to advocate causes) including the arts and American Indian causes.
http://www.glbtq.com/social-sciences/buchanan_j.html
    1843-birthday of Belle Boyd, notorious Confederate spy who later became an actress and lecturer was born at Martinsburg, VA. Belle Boyd at 18 became a famed spy for the Confederacy during the Civil War, stealing weapons, secrets, and helping prisoners to escape. She was arrested several times, once deported to Canada. She authored a book about her exploits. Following the war she became an actor and lecturer, continuing in that profession until her death in 1900. She married three times, her last marriage to a man 15 years her junior. She once shot at a man who was calling on her daughter and refused to marry her. Author of the book, “ Belle Boyd in Camp and Prison,” she died June 11,1900 at Kilbourne ,WI.
http://www.civilwarhome.com/boydbio.htm
    1844(3)--Birthday of Belle Boyd at 18 became a famed spy for the Confederacy during the Civil War, stealing weapons, secrets, and helping prisoners to escape. She was arrested several times, once deported to Canada. She authored a book about her exploits. Following the war she became an actor and lecturer, continuing in that profession until her death in 1900. She married three times, her last marriage to a man 15 years her junior. he once shot at a man who was calling on her daughter and refused to marry her.
http://www.civilwarhome.com/boydbio.htm
http://www.civilwarhome.com/belleboyd.htm
http://www.angelfire.com/ga3/southernrebels/belle.html 
    1846-- Word reaches Washington that an American patrol had been ambushed by Mexican forces north of the Rio Grande. This leads four days later to the US Congress granting President James K. Polk’s request for a declaration of war. The Mexican-American War began with a dispute over the US government’s 1845 annexation of Texas, which had won independence from Mexico in 1836. Mexico believed that France and Britain would support it in a war against the US. In January of 1846, President James K. Polk, a strong advocate of westward expansion, ordered General Zachary Taylor to occupy disputed territory between the Nueces and Rio Grande rivers. On 12 May 1846, Mexican troops attacked the forces of General Taylor, who went on to win the Battle of Palo Alto On 13 May 1846, Congress, yet unaware of that battle, approved a declaration of war, appropriating ten million dollars for the war effort and authorizing the president to call for 50'000 volunteers. On 02 February 1848, representatives from the US and Mexico signed the Treaty of Guadalupe Hidalgo, formally ending the Mexican War, recognizing Texas as part of the United States, and extending the boundaries of the United States west to the Pacific Ocean.
    1862-Confederate forces at Norfolk, VA, evacuated the city in costly move, leaving valuable material for the Union army. Norfolk and Portsmouth were occupied on May 10, and the naval yard at Gosport, VA, was burned, in reality ended the Confederates ability to build metal ships and make major repairs to their navy.
http://www.civilwarhome.com/merrimacbirth.htm
http://www.civilwarhistory.com/navy/CSSNavy.htm
    1862-At Hilton Head, SC, General David Hunter, commander of the Department of the South, issued orders freeing slaves in South Carolina, Florida and Georgia. Not having congressional or presidential approval, the orders were countermanded by President Lincoln on May 19th, ordering Hunter to retract his proclamation as he still feared that this action would force slave-owners in Border States to join the Confederates. President Jefferson Davis and the he leaders of the Confederate Army were furious when they heard of Hunter's actions and orders were given that he was a "felon to be executed if captured” President Lincoln explained to the New York Tribune, “My paramount object in this struggle is to save the Union, and is not either to save or destroy slavery. If I could save the Union without freeing any slave, I would do it; and if I could save it by freeing all the slaves, I would do it."
http://www.spartacus.schoolnet.co.uk/USACWhunter.htm
    1864 -- Union General John Sedgwick is shot and killed by a Confederate sharpshooter during fighting at Spotsylvania. His last words are: "They couldn't hit an elephant at this dist--" 
http://civilwar.bluegrass.net/OfficersAndEnlistedMen/johnsedgwick.html
http://shopping.yahoo.com/p:General%20John%20Sedgwick:3003730638:isbn=
0891410309:page=compare?used=1

    1868-First known as Fullers Crossing, then Lakes Crossing, the name was officially changed to Reno (Nevada). It was named after General Jesse Reno, a Union officer of the Civil War. When the Comstock load was discovered in Virginia City, the nearest large city was Reno, thus it became popular and is still known today as “The Biggest Little City in the World.” Its six-week residency requirement for divorce became law on May 1, 1931, making it a popular city. At the time, it was the major “gambling city” in the United States, and prostitution was legal in several surrounding counties. It was the Las Vegas of its day, today primarily visited by people living in Northern California, although visited by tourists from around the world for not only gambling activity, but the surrounding “ghost towns” and surrounding old West towns such as Carson City, its capital, Virginia City, and other cities in the California gold country.’ 
http://www.cityofreno.com/.
    1894 - Portland, Oregon had its latest freeze when the temperature fell to 32 degrees. This is the only may freeze in Portland's history.
    1899-African American John A. Burr patents the rotary-blade lawn mower.
    1909- Alice Koller Leopold birthday. She wrote Connecticut's equal pay and minimum wage bills in 1949, her freshman year in the Connecticut Assembly. The next year she was elected the Connecticut's secretary of state. She then served as Director of the Women's Bureau of the U.S. Department of Labor from 1953- 61, and was the Assistant to the Secretary of Labor to aid and develop programs for women. She was a strong advocate of the Equal Rights Amendment. The mother of two, she had created her own toy company before entering public life.
    1910-pianist Bob Zurke born Detroit, MI, died February 16, 1944
http://www.parabrisas.com/d_zurkeb.html
    1914-President Woodrow Wilson issued a proclamation asking Americans to give a public expression of reverence to mothers through the celebration of Mother's Day. Carnations have come to represent the day following President William McKinley’s habit of always wearing a white carnation, his mother's favorite flower. This year, families in the United States and Canada will celebrate Mother's Day on Sunday, May 14, 2000.
http://memory.loc.gov/ammem/today/may09.html
(The first Mother’s Day was observed in 1907 at the request of Anna Jarvis of Philadelphia, PA, who asked her church to hold service in memory of all mothers on the anniversary of her mother’s death. The newspapers of the day reported this event and it continued the next year at other churches, now annually, the second Sunday in May. 
    1914- Hank Snow, one of the fathers of country music in Canada, was born in Liverpool, Nova Scotia. He was heavily influenced by singer and yodeler Jimmie Rodgers, and began to perform in his style in the early 1930's. Snow made his radio debut about 1933 on CHNS in Halifax, and three years later made his first recording for Victor, the company with which he remained for four decades. He settled permanently in Nashville, Tennessee about 1950, and became a US citizen in 1958.Snow became a regular on the Grand Ole Opry in 1950, the same year he recorded "I'm Movin' On," which became one of the most successful singles of the first 50 years of recorded country music. His other hits include "Golden Rocket" and "I've Been Everywhere." Hank Snow was indicted into the Country Music Hall of Fame in 1976 and into the Juno Awards Hall of Fame in 1979. 
On this date in 1994, on his 80th birthday, Hank Snow received an honorary degree from St. Mary's University in Halifax. The presentation was made in Nashville, and he spoke to the graduates via videotape.
http://www.hanksnow.com/
    1916 - President Woodrow Wilson mobilizes the National Guard of Arizona, New Mexico and Texas to patrol their borders with Mexico as Brigadier General John J. Pershing led an Army expedition into northern Mexico to try to capture or kill the bandit leader Pancho Villa and his group. In March, Villa and his men raided the town of Columbus, NM, killing a number of soldiers and civilians before slipping back across the border. Soon these Guardsmen would be joined by Guard units coming from all the states to a total 158,000 men. While their main mission was to secure the border the Army used this partial mobilization to train the Guard in large unit formations almost impossible to conduct in normal peacetime exercises for just a few days. This training paid great dividends when America committed its Guardsmen to combat in France after our entry in World War I.
    1918---TV Journalist Mike Wallace born Brookline, MA.
    1927 - A major tornado outbreak occurred from Texas to Michigan. There were 28 tornadoes rated f2 or greater. 9 separate tornadoes killed 5 or more people making this day one of the worst tornado days in U.S. History. Popular Bluff, Missouri was devastated by a tornado rated f4 on the fujita scale. 98 people were killed and 300 were injured. 31 business and residential blocks were destroyed in the city. Strong, Arkansas was leveled by another f4 tornado with 24 people killed.
    1928-birthday of Pancho Gonzales. Richard Alonzo “Pancho” Gonzales, tennis player born at Los Angeles, CA. A self-taught player, Gonzales won the 1948 US National Singles Championship and repeate4d in 1949. He turned pro and won the world’s championship from 1954 through 1962. Gonzales was an aggressive, temperamental player who rarely trained. Died at Las Vegas, NV, July 3, 1995. 
    1933 - A tornado, rated F4 on the Fujita Scale, moved through Monroe, Cumberland, and Russell Counties in Kentucky. 36 people were killed.
    1939 –birthday of Ralph Boston (National Track & Field Hall of Famer, Olympic Hall of Famer: gold medalist: long jump [1960], silver [1964], bronze [1968]; broke world long jump record 5 times, the last at 27 feet, 5 inches [1965]) 
http://www.hickoksports.com/biograph/bostonra.shtml
    1939 – Glenn Miller records "Stairway to the Stars" with Ray Eberle, one of the most popular singers in the 1940’s.. 
    1941-Billie Holiday records “ God Bless the Child” (Okey 6270)
    1942—Attorney General John Ashcroft born Chicago, Illinois.
    1944- Jimmie Davis, who was a successful country singer as early as the 1930's, became governor of Louisiana. Davis, the composer of the country standard "You Are My Sunshine," later resumed his music career.
http://www.nashvillesongwritersfoundation.com/fame/davis.html
http://www.pbs.org/riverofsong/artists/e4-jimmie.html
http://www.etrecordshop.com/jdtribut.htm
    1945- Steve Katz birthday: vocalist, guitarist and harmonica player with such bands as the Blues Project, Blood, Sweat and Tears and American Flyer.
http://www.altx.com/katz/katzbio.html
http://www.rdrop.com/users/rickert/steve-solo.html
    1946---Birthday of Candice Bergen - U.S. actor and photographer.A whole generation, however, knows her as Murphy Brown. She was the daughter of famous actor and ventriloquist Edgar Bergen, who also was very popular on the radio as well as in movies. At 34 she married French filmmaker Louis Malle who died in 1995. They had one daughter Chloe (b. 1985). In 2000 she remarried.
    1949-Singer/pianist/composer Billy Joel was born in Long Island, New York. His hit single "Just the Way You Are," won two Grammy Awards in 1979, and has since become a standard. The album from which the song was taken, "The Stranger," is reported to have sold more than five-million copies. Joel's other hit singles include "My Life," "It's Still Rock and Roll to Me", “ We Didn’t Start the Fire,” “Piano Man,” and "Uptown Girl."
http://www.billyjoel.com/
http://www.billyjoelmusic.com/
http://billyjoel.8k.com/
    1953—Top Hits
Pretend - Nat King Cole
Song from Moulin Rouge - The Percy Faith Orchestra
I Believe - Frankie Laine
Mexican Joe - Jim Reeves
    1954-Chet Baker Quartet first concert, Ann Arbor, MI. 
(Saw him play many times. He always sounded “flat,” but then I dated a girl he used to date, and enough said.)
http://www.jerryjazzmusician.com/shop/shopmain.cfm?CatalogName=bakerchet
http://www.chetbaker.net/
    1958--Still angry that his employers refuse to back him in his defense of recent charges of inciting a riot at a Boston show, DJ Alan Freed quits New York radio station WINS, claiming they refused to "stand by my policies and principles." The same day, Freed debuts his new package tour in Hershey, PA, starring Chuck Berry, Buddy Holly, Jerry Lee Lewis, Frankie Lymon and the Teenagers, Danny and the Juniors, Screamin' Jay Hawkins, Larry Williams, and the Chantels.
    1959- 16-year-old Wayne Newton made his Las Vegas debut at the Freemont Hotel. That first booking, scheduled to last two weeks, stretched into three years. Newton went on to become king of the Vegas showrooms, earning close to $20- million a year. He has been seen live by over 12 million people, more than have seen either Frank Sinatra or Elvis Presley in concert.
    1960-The U.S. Food and Drug Control approved the “birth control pill.” It was developed over a five year period by Gregory Pincus, a biochemist at Worchester Foundation for Experimental Biology, Shrewsbury, MA, and John Rock, a gynecologist at Harvard Medical School, Cambridge, MA> It used synthetic progesterone and estrogen to repress ovulation in women. The first clinical tests were performed in 1954. The project was initially commissioned and funded by birth-control pioneer Margaret Sanger and heiress Katherine Dexter McCormick.
    1961—Top Hits
Runaway - Del Shannon
Mother-In-Law - Ernie K-Doe
A Hundred Pounds of Clay - Gene McDaniels
Hello Walls - Faron Young
    1961-Perhaps still germane today, Speaking before the bigwigs of network TV at the annual convention of the National Association of Broadcasters, Newton Minow, the new chairman of the Federal Communications Commission, exhorted those executives to sit through an entire day of their own programming. He suggested that they “will observe a vast wasteland.” Further, he urged them to try for “imagination in programming, not sterility; creativity, not imitation; experimentation, not conformity; excellence, not mediocrity.”
    1961-First baseman Jim Gentile of the Baltimore Orioles became the fourth player to hit grand slams in consecutive innings. Genitle hit his homers in the first and second innings of a game against the Minnesota Twins and added a sacrifice fly as the Orioles won, 13-5.
    1964 – Great jazz trumpet player, and now singer, found his recording of "Hello Dolly!" on the "Billboard" music chart in the top spot for the first time in his 41-year music career. Later, ‘Satchmo’ was cast in the movie version of "Hello Dolly!”. When the song hit Number One, it pushed out the Beatles “She Loves You.” He had another top pop tune also sung by Bobby Darin, Ella Fitzgerald, Frank Sinatra, but he is best remembered for “ Mack the Knife.”
http://tinpan.fortunecity.com/riff/11/frame/h2.html
In the many old recordings, when Louis Armstrong played, you could always pick him out. He was the most influential jazz man of the 20th Century.
http://www.redhotjazz.com/louie.html 
http://www.louis-armstrong.com/
http://www.satchmo.com/louisarmstrong/props4pops.html
    1968-- In front of only 6,298 Oakland fans, Jim Catfish Hunter hurls the first American League perfect game in forty-six years as the A's defeat the usually heavy hitting Twins, 4-0.
    1969—Top Hits
Aquarius/Let the Sun Shine In - The 5th Dimension
Hair - The Cowsills
Hawaii Five-O - The Ventures
Hungry Eyes - Merle Haggard
    1965 - Vladimir Horowitz played his first public concert in 12 years at Carnegie Hall in New York City. The audience applauded the piano virtuoso with a standing ovation that lasted for 30 minutes.
    1970-Blues Images "Ride Captain Ride" is released.
    1970-The Guess Who hit the top spot on Billboard's Hot 100 with "American Woman". The song was born by accident when guitarist Randy Bachman was playing a heavy riff on stage after he had broken a string and the band had taken a break. The other members joined in on the jam and Burton Cummings started singing the first thing that came into his head. A fan in the audience had it all on tape and presented it to the group after the show. It was quickly developed into a full song in the studio and ended up spending 3 weeks at the top of the US singles chart.
    1974--Congress begins impeachment hearings of President Richard M. Nixon. 
    1974--- Bruce Springsteen gives the most important performance of his career, opening for Bonnie Raitt at her Boston Arena show. Playing his full two-hour set at Raitt's insistence, Bruce delivers a show so impressive that Rolling Stone's Jon Landau later wrote in Boston's The Real Paper, "I saw rock and roll future, and its name is Bruce Springsteen. And on a night when I needed to feel young, he made me feel like I was hearing music for the very first time." Landau would later become Springsteen's manager and producer.
    1977—Top Hits
Hotel California - Eagles
When I Need You - Leo Sayer
Sir Duke - Stevie Wonder
Play, Guitar Play - Conway Twitty
    1977---- Patty Hearst let out of jail.
http://www.crimelibrary.com/classics4/hearst/
    1984-The Chicago White Sox defeated the Milwaukee Brewers, 7-6, on a Harold Baines home run in the 25th inning. The game, the first 17 innings of which were played the day before, was the longest extra-inning game by time, 8 hours, 6 minutes. The teams then played their regularly scheduled game of nine innings, making a total of 34 innings in two days.
    1985—Top Hits
We are the World - USA for Africa
Crazy for You - Madonna
Don’t You Forget About Me - Simple Minds
There’s No Way – Alabama
    1987-Switch-hitter Eddie Murray of the Baltimore Orioles became the first play in major league history to hit home runs from both sides of the plate in consecutive games
    1992--- Final episode of "Golden Girls" airs on NBC-TV.
http://lifetimetv.com/shows/golden/
http://epguides.com/GoldenGirls/
http://www.beatricearthur.com/
    1994--Netscape changes the World Wide Web, opens it open for everyone to use easily. James Clark, founder of Silicon Graphics, Inc., announces he will start a new company called Mosaic Communications Corporation. (The company would later change its name to Netscape Communications.) Clark teamed up with Marc Andreessen and six other programmers to create Mosaic, one of the earliest Web browsers, at the National Center for Supercomputing Applications at the University of Illinois. When Netscape went public in December 1995, it broke records for the most successful opening day of stock trading in history. Unfortunately, the company later found itself in a fierce and expensive battle with Microsoft, which ultimately led to its sale to AOL in late 1998.
    1997-Peter Peterson presented his portfolio in Hanoi, becoming the first Ambassador to Vietnam after the end of the Vietnam War. Peterson, a former Air Force captain, had been held as a prisoner of war in Vietnam for 6.5 years after his bomber was shot down near Hanoi in 1966. He was released in March, 1973. The United States had not maintained formal diplomatic relations with Vietnam since its previous ambassador, Graham Martin, left Saigon by helicopter in 1975 as the city fell to t North Vietnamese forces.
    1998 ----Cardinal Mark McGwire reaches the 400th career home run mark. Big Red's historic milestone comes in 4,727 at-bats (127 less at-bats than Babe Ruth) which is the least plate appearances ever needed to reach the mark.
    2005-- Carlos Beltran (.267, 38, 104) becomes the tenth $100 million player in major league history as the 27-year old native of Puerto Rico agrees to seven-year deal for $119 million with the Mets. The five-tool outfielder, who had his market value increase in the post season by helping the Astros come within a win of their first World Series appearance in franchise history, goes to New York after Houston refuses to include a no-trade clause in their very attractive monetary offer to keep him on the club.


 

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