######## 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.
Archives: May 13, 2011 Steve Dunham Appointed
BSB Leasing Eastern Regional Broker Service Representative
He joined the company in October, 2010. He was active in the formation of the Western Association of Equipment Lessors, now the National Equipment Finance Association, in 1972, serving as first president. He also operated Leasing Associates, Mountain View, California. He will be working from Boothbay, Maine. 888-465-0303. email: firstname.lastname@example.org http://www.linkedin.com/in/stevedunham
Special Projects Coordinator, BSB Leasing
New Hires---Promotions in the Leasing Business
and Related Industries
Heather Aselta was promoted to Senior Account Manager, EverBank Commercial Finance, Parsippany, New Jersey. She joined the firm March 2011 as Account Manager. Previously, she was Owner, Heather Aselta Independent Consultant with Tastefully Simple (May, 2010 – March, 2014); Cashier, The Home Depot (January, 2011 – April, 2011); Account Manager, US Express Leasing/Tygris Vendor Finance/Everbank (November, 2007 – May, 2010); Account Manager, Everbank Commercial Finance (May, 2005 – April, 2010); Inside Sales Representative, US Express Leasing (July, 2004 – November, 2007); Program Representative, Wells Fargo Financial (January, 2001 – July, 2004); Inside Sales, GreenTree/Conseco/Wells Fargo (July, 1999 – December, 2000); Teacher Assistant, Sara's Preschool (January, 1995 – January, 1998). Education: Bergen Community College, Associates Degree, Early Childhood Education (1993 – 1995). Endicott College (1992 – 1993). https://www.linkedin.com/in/heather-aselta-6801267
Jason Center was hired by SunTrust Equipment Finance and Leasing Corp. as "Director of Originations of the greater Washington region and will be responsible for commercial and not-for-profit and government clients in Maryland, DC and northern Virginia." Previously, he was Equipment Finance Sales Executive, BankUnited (June, 2014 – March, 2016); Florida Senior Account Manager, PNC Equipment Finance (April, 2011 – May, 2014); VP-Regional Account Executive, BB&T Equipment Finance (December, 2009 – April, 2011); VP-Area Sales Manager, Regions Bank Equipment Finance (April, 2006 – December, 2009); VP-Account Executive, GE Capital (February, 2002 – March, 2006); Languages: Spanish. Education: Western Michigan University - Haworth College of Business, Bachelor, Finance & Accounting (1989 – 1993). https://www.linkedin.com/in/jason-center-3040901b
Kevin Cook was hired as AVP, Sales Operations Manager at Firestone Financial, Needham, MA. Previously, he was Business Development Manager, Healthcare Professional Funding (January, 2015 – May, 2016); Sales and Business Development Manager/Managing Director, University Fund for BC Alumni, Launch Angels (February, 2014 – January, 2015 ); Vice President, Business Development, Curaspan Health Group (February, 2010 – October, 2010); Director of Business Development, Target Teams (July, 2008 – February, 2010); Sales Manager, TimePayment Corp (February, 2006 – July, 2008); VP, Dental Sales / Director, Inside Sales / Regional Sales Manager / Sales Associate, The General Electric Company / HPSC, INC. (1995 – 2006); Certifications, Series 63, Financial Industry Regulatory Authority (FINRA) Starting March, 2014. Organizations: AA-ISP, Starting November, 2015. Education: Boston College - Wallace E. Carroll Graduate School of Management, MBA, Management Studies, General (2000 – 2004). Providence College, BS, Business Administration (1989 – 1993). St. Bernard. https://www.linkedin.com/in/kevinpcook
Jackie Counts was hired as Account Manager with XPO Logistics, Greenwich, Connecticut; she is based out of the Greater Salt Lake City Area. Previously, she was National Account Executive Mazuma Capital Corp. (2015 – 2016); Sales Coach, Simply Connected (2013 – 2015). https://www.linkedin.com/in/jackie-counts-15609a106
Doug Dent was hired as Vice President - Originations at Mobilitie, Newport Beach, California. Previously, he was Director, EverBank (May, 2015 – May, 2016). He joined GE Capital, May, 2005, in the Experienced Commercial Leadership Program; promoted, June, 2007, Senior Vice President; promoted September, 2011, Managing Director; promoted, January, 2015, National Sales Leader. He began his career as Director of Global Services, Wren & Fida International (January, 2000 – August, 2003). Languages: Spanish. Awards: Commercial Excellence Award - GE (2007). West Region Sales Award - GE (2010). Above & Beyond Award - GE (2013), Education: Carnegie Mellon University - Tepper School of Business, MBA, Strategy & Marketing
(2003 – 2005). Activities and Societies: President - Biotech Club Teaching Assistant - Corporate Strategy; Star Performers Flag Football Team. University of Utah, BA (1996 – 2000). Activities and Societies: Sigma Chi https://www.linkedin.com/in/dougdent
Chris Hobbs was hired by SunTrust Equipment Finance & Leasing Corp. as " Vice President of Originations for the Carolinas region and will be responsible for commercial clients in North Carolina and South Carolina." Previously, he was Vice President, BB&T Equipment Finance, BB&T Equipment Finance (March, 2015 – April, 2016); Vice President & Territory Manager, Wells Fargo Equipment Finance (2009 – March, 2015); Territory Manager, GE Capital (December, 2003 – May, 2009); Financial Sales Specialist Volvo Financial Services (March, 2002 – November, 2003); District Sales Manager, CIT (May, 2000 – February, 2002); Financial Sales Specialist, Wells Fargo (June, 1998 – January, 2000); Branch Manager, BB&T (September, 1995 – May, 1998). Awards: Presidents Club Award 2010, Wells Fargo Equipment Finance,
Eastern Region Territory Manager of the Year Award 2010, Wells Fargo Equipment Finance. Education: Old Dominion University - College of Business and Public Administration, Bachelor of Business Administration (B.B.A.), Finance (1990 – 1994). https://www.linkedin.com/in/chris-hobbs-53458964
Richard Johansen was hired as Direct Lender (Nationwide) │Business Loans │Alternative Lending │ISO Relations, World Business Lenders, LLC, Orange County, California. Previously, he was Director of Acquisitions, Tower Point Capital (September, 2015- May, 2016);Senior National Account Executive, Reliant Funding (April, 2014 – May, 2016); Owner / President, GGA Gold Gallery Auctions (June, 2009 – February, 2014); Business Development Manager - Healthcare IT Staffing, Parker Healthcare IT (2008 – 2009); General Sales Manager, Franchise Sports Marketing (2000 – 2008); General Sales Manager, Marcus Evans / Sports Marketing Group, marcusevans.com (1998 – 2000); Sales, Event Management Group (February, 1991 – November, 1993). Education: Pasadena College, Business (1984 – 1988). Activities and Societies: Business Management Association https://www.linkedin.com/in/richard-johansen-82994aa
Michael Karman was promoted to Chief Commercial Officer at Axis Capital, Grand Island, Nebraska. He is located in Concord, Massachusetts. He joined the firm January, 2015 as Vice President in charge of Eastern Regional Sales. Previously, he was Senior Vice President, Ascentium Capital (August, 2011 – December, 2014); Chief Executive Officer, Finance Services, LLC (July, 2009 – July, 2011); Executive Vice President, Greystone & Co. (June. 2006 – September, 2009); Senior Vice President, BankVest Capital Corp.
(January, 1995 – November, 1999); VP, AT&T Capital (January, 1986 – January, 1995). Education: Bentley University, Accounting and Finance. https://www.linkedin.com/in/michael-karman-bb7541110
Andrew Leone was promoted to Sr. Director - Commercial Credit Risk & Operations, Hyundai Capital America, Irvine, California. He joined the firm December, 2015 as Director Commercial Risk. Previously, he was Sr. Manager Credit Ops Strategy, Nissan Motor Acceptance Corporation (November, 2014 – December, 2015). Prior he started January, 2008, as Sales Planning Manager, Hyundai Capital America; promoted, January, 2001, Pricing Manager; promoted January, 2012, OEM Relationship Manager; promoted November, 2012, Senior Manager, Sales Product; promoted, September, 2013, Director: Sales Planning Commercial. He worked at Chrysler Financial as Key Accounts Executive (January, 2007-April, 2008). Before that he was a Daimler Chrysler Truck Financial as L.E.A.P. Candidate (Management Rotation Program) (April, 2003-October, 2004), then promoted to Global Risk Management Project Team Member Beijing China (November, 2004-May, 2005); back in the United States as Flett Analyst (June, 2005-December, 2006). He was an intern at ABN AMRO, Beijing PRC (June, 2002-August, 2002); Lecturer, Tsinghua University, Beijing PRC (September, 1999-June, 2001). Languages: Chinese. Education: Boston University, MS, Banking and Financial Services Management (2010 – 2012). DePaul University - Charles H. Kellstadt Graduate School of Business, MBA, International Marketing and Finance (2001 – 2003). University of Illinois at Urbana-Champaign, BS, Engineering
(1994 – 1999). https://www.linkedin.com/in/andrew-leone-1350354b
Dan McKew was hired as President, Bridge Funding Group, IN., a BankUnited Company, Hunt Valley, Maryland. Previously, he was President, Capital One Commercial Lending, taking over Walter Rabin's job (June, 2012-March, 2015); President, CFG Community Bank (November, 2011-June, 2012); President of CFG Community Bank, Baltimore Maryland (November, 2011--June, 2012: President, 1st Mariner Bank (October, 2010-November, 2011); Principal, management consulting (May, 2010-September, 2010); President/CE), SunTrust Equipment Finance and Leasing Corporation (July, 1997-March, 2010); Chairman of the Board, Injured Workers Insurance Fund (November, 1997-May, 2008); President, Signet Leasing Corporation (March, 1991-May, 1997); Vice-President, PHH (March, 1983-February, 1991). Education: Loyola College in Maryland MBA, Finance (1981 – 1983) Loyola College in Maryland BA, Accounting (1975 – 1979) http://www.linkedin.com/in/danmckew
David Rooney was hired by SunTrust Equipment Finance & Leasing as "Director of Originations and will be responsible for corporate banking in the Midwest region." He is based out of the Greater Chicago area. Previously, he was Senior Vice President, GE Capital (December, 2011 – April, 2016); Managing Director - Illinois Commercial Banking, The Private Bank and Trust Company (December, 2007 – December, 2011); Senior Vice President and Division Manager, LaSalle Bank (June, 1997 – December, 2007). Education: DePaul University - Charles H. Kellstadt Graduate School of Business, MBA, Finance (2002 – 2004). University of Illinois at Urbana-Champaign
BA, Economics (1993 – 1997). https://www.linkedin.com/in/drooney72
Dave Tyler was promoted to Supervisor, Portfolio Manager, Scottrade Bank, Greater St. Louis Area. He joined the firm October, 2013, as Senior Credit Analyst; promoted February, 2015, Credit Supervisor. Prior, he was a Credit Analyst, CSI Leasing, September, 2007; promoted to Assistant Vice President, Credit, August, 2012. He was an Intern, Russell Capital Management (August, 2006 - December, 2006). Courses: CSI Leasing, Omega Performance Commercial Credit Training. Education: University of Kentucky, BA, Finance (2003 – 2007). https://www.linkedin.com/in/dave-tyler-5b17a930
Pam Waldron was hired as Senior Business Development Manager,
Marlin Financial & Leasing Corp., Mount Laurel, New Jersey; she is located in Jacksonville, Florida. Previously she was Inside Sales Account Manager, CIT (February, 2015-May, 2016); Senior Account Executive, Navitas Lease Corp. (October, 2008-January, 2015); Program Manager Microsoft Relationship, CIT (October, 2007 – October, 2008); Sales Executive, CIT (April 2005–October 2007). https://www.linkedin.com/in/pam-waldron-1b142518
(Leasing News provides this ad as a trade for appraisals
and equipment valuations provided by Ed Castagna)
ATEL Capital Group, headquartered in the Transamerica Pyramid in San Francisco, is one of the largest independent equipment financing companies in the US serving a wide range of industries, focusing on Fortune 1000 companies and other near investment grade credit corporations. Since 1977 ATEL has priced, structured and negotiated in excess of $30 billion of equipment lease financing transactions
Position located in Denver, Colorado or Gig Harbor, Washington.
For the right candidate ability to work remote may be an option.
Commercial equipment leasing/finance experience preferred,
but must have 2+ years commercial credit experience, strong
knowledge of business and credit principles.
FinTech #102 by Brittney Holcomb
Creating Content People Actually Want To Read
In the financial services industry content can surely at times seem quite dry. The challenge a lot of financial companies face is creating content that is engaging and interesting enough to have a user actually read the entire piece, especially in an industry where there seems to be so many restrictions.
Financial content definitely does not have to be boring or plain. In fact, reformatting your content a bit might just be what you need to increase your reader engagement.
Too many writers are so caught up in creating content around keywords, completely forgetting about the reader. The main purpose of creating content is for the reader. When did we lose track of this? Content should always be based on what your readers want to read, not what Google search bots want.
A lot of queries I see on search engines these days are actually questions instead of keywords. Search has completely evolved from readers typing in 1 to 2 word key phrases. Now readers are speaking full sentences into their smartphones using Google voice search. The age of ‘Long Tail’ search has definitely arrived, which means we need to start building content titles and ideas around frequently asked questions our readers have.
How are you supposed to know what questions your readers are asking?
There are a few ways to go about this. The easiest way would be use Google’s keyword planner tool and research search volume on particular questions that readers in your industry may be asking. The preferred way, which I think is the best way, but a much more involved process: actually communicate with your readers and see what questions they have. You could even do a survey. There are many such programs that make this very easy to do over the internet.
When I first started working in the financial industry, I would send out surveys to my clients or exit polls after I attended conferences, just to get a feel for questions or comments my readers had about their experience with me or marketing in general.
I took the results from those surveys and built content from them. My readers were literally spoon feeding me content ideas whenever they mentioned any ‘pain points’ they faced when running their business.
A good place to start in developing content for your readers is by creating simple questions.
Readers love articles that can help them in anyway. Always ask yourself, “What is the take away from this post?” All content should have a purpose, if it does not have a purpose, it is not worth writing about.
The two main purposes of content are either educating the reader or branding. Branding pieces can include client testimonials or summaries of recent transactions your business has completed. Both are great ways to show your future readers that your business is successful and that your clients are happy.
Remember, in an instant gratification and multitasking world, readers do not have time to read or in some cases prefer not to read lengthy content.
Content in the financial industry does not have to be stale, it all depends on how it is presented. I suggest making it personal, especially if the audience are your customers, who know you, or are interested in what you can do for them.
Remember, your content marketing strategy is that you are dealing with an existing client or a party who you would like to do business with you. Here is an old writer’s trick, if you are experiencing an old writer’s block, treat it as if you were writing a personal letter.
Brittney Holcomb is the Director of Paid Search at The Finance Marketing Group. She works exclusively with finance companies and banks to help better develop their business online through digital marketing strategies. Brittney has been trained by some of the top leaders in the industry giving her a vast knowledge she is able to pass along to her client base.
Internet Connected Cars Drive Marketplace
Expected to More than Quadruple by 2020
by John Greenough, Business Insider
The connected car is already on the market and generating significant revenue for car makers and tech companies.
Over the past year, there has been a significant uptick in the number of connected cars on the road. And as internet integration becomes more commonplace, the automobile as we know it will transform.
Over the next five to 10 years, this internet integration is expected to change the car ownership model, create a new platform for consumers to access content, lead to fully autonomous vehicles, and revolutionize the auto industry.
The market position of the car today is similar to where the smartphone was in 2010 — it's just taken off and is ready to explode.
Secured Lender Lose Priority When Collateral Sold by Borrower
By Tom McCurnin
Leasing News Legal Editor
(Tom sent a series of columns before he left to go hiking in Guatemala. His plan is to visit a lost city discovered, as I remember, by Google. It previously was an area considered to be a series of mountains, but turned out with Google Earth view to be large pyramids covered by the jungle. His plan was to hike there. He’s been training and preparing for this trip very seriously for six months. On Wednesday, he attempted to hike to the top of an active volcano before leaving for the four to six day hike through the jungle. He sent me a text:
“Off the volcano. One of the hardest things I have ever done. 6 miles, 6,000 foot elevation gain. Basically hiking in loose volcanic soil, so two steps up, slide one step back. All at 7,000 to 13,000 feet, so oxygen is low, 30/45% grade. I was running a pulse rate of 140-160 for six hours. Insane.
“All my leg muscles cramped up so at night had to drink gobs of water and pop electrolytes like candy. We were rewarded with a giant boom at 5 am and a huge plume of smoke and ash. I was too sore to summit this a.m., but saw the eruption by our campsite. I hobbled down the mountain this morning.
“I was unprepared for the level of physical exertion. To train I would have had to hike on the treadmill for at least 4 hours at a 30% grade. Or climb 400 flights of stairs with a weight belt.” Editor).
Secured Lender Was Not Aware of the Borrower’s Sale of Its Collateral
and Let UCC-1 Financing Statement Lapse.
Four Cty. Bank v. Tidewater Equip. Co., 331 Ga. App. 753, 753, 771 S.E.2d 437, 438 (2015)
I’m a big proponent of having equipment leasing companies inspect equipment, not only at the inception of the deal but a couple times during the term of the lease. Today’s case demonstrates why that practice is desirable. The facts follow.
Shepherd Brothers Timber Company borrowed money from Four City Bank for the acquisition of two pieces of foresting equipment in 2003 and 2005 and the Bank filed its UCC-1. The borrower sold the equipment to Tidewater in 2007 while the UCC-1s were effective in 2007. The borrower did not disclose the sale and was otherwise current on its loan. Tidewater re-sold the equipment to one of its customers in 2009. The Bank renewed its UCC-1 in 2008 and 2011. Although the Bank perfected its security interests in both pieces of equipment by filing financing statements, the Bank failed to timely file continuation statements.
The borrower filed bankruptcy in 2011.
The Bank sued Tidewater for conversion in 2012.
The Bank claimed that Tidewater knew or should have known of the existence of the lien in 2007, but there was no evidence that Tidewater performed a UCC search. Moreover, the failure to file a continuation statement was fatal. The court held that the security interest lapsed and thus is deemed never to have been perfected as against a pre-lapse purchaser for value, with the result that the purchaser could not be held to have converted the property.
Bank, as secured creditor lost. Purchaser won.
What are the takeaways here?
• First, Be Suspicious. I am particularly suspicious of contractors and yellow iron deals. The stuff is not titled, moves around a lot, if often loaned or leased without the consent of lessor, and contractors can be a bit flakey relative to this type of equipment.
• Second, Underwrite Yellow Iron Deals Carefully. This equipment is very unlike machine tool collateral which generally has a single home for the life of the lease. Yellow iron collateral moves around a lot, and is not necessary in constant use. I would factor in the cost of locating and repossessing the collateral when advancing funds for yellow iron deals. 60-70% of its value would probably be tops.
• Third, Inspect. Your lease should give the lessor the right to inspect the equipment and charge for the inspection. Equipment should be inspected at least twice in the life of the lease, and perhaps for yellow iron deals, it should be an annual inspection. I would want to know where the collateral is every year.
• Fourth, File Continuation Statements. The Bank could have had a “buyer in the ordinary course of business” lawsuit against the buyer if the Bank was secured. Sadly, for reasons unknown to the court, the Bank failed to renew its security interest. Many title companies will set up tickle files for the secured creditor to remind the creditor to file continuation statements.
The bottom line to this case is that the Bank failed to inspect and more importantly failed to file continuation statements. This is really a fundamental blunder.
Tom McCurnin is a partner at Barton, Klugman & Oetting in Los Angeles, California.
Tom McCurnin Barton, Klugman & Oetting 350 South Grand Ave. Suite 2200 Los Angeles, CA 90071 Direct Phone: (213) 617-6129 Cell (213) 268-8291 Email: email@example.com Visit our web site at www.bkolaw.com Previous Tom McCurnin Articles: http://www.leasingnews.org
September 16-17, 2016
2016 Eastern Regional Meeting
Cincinnati Airport Marriott
Rodny Blecha, Precision Leasing
Second Annual Conference
Announcing Our Second Annual
October 4th - 6th, 2016
Red Rock Casino & Resort
Las Vegas, Nevada
Christopher "Kit" Menkin, Leasing News, will be speaking
at the “Reporters Viewpoint” panel discussion to address the whole conference about the state of the leasing industry.
Over 300 of the nation’s top commercial loan, leasing and mortgage brokers will be converging on Red Rock Resorts on October 4-6 to meet the top lenders and service providers that cater to the brokerage community. These brokers are responsible for over $5 billion in small business and commercial financing each year.
This NACLB annual conference will provide education and networking between brokers lenders and service providers.
However, the primary benefit of the conference will be to provide enormous growth opportunities for both brokers and bankers to grow their loan portfolios and increase revenues and profits.
Now is your chance to get DEAL FLOW, QUALITY ISO’s and COMMERCIAL BROKERS
Go to our website for more information: www.naclb.org
LaSalle Solutions Brings New Perspective to Equip. Leasing
Highlights No Evergreen Clause Abuse!
ROSEMONT, IL-- - LaSalle Solutions, a leading provider of technology life-cycle asset management services, has introduced a new video highlighting how the company is changing the way businesses lease technology equipment.
A lot can happen during a standard 36-month lease term. You could run a marathon, learn a language or have a kid (or three), the video explains. With so much uncertainty, today's organizations need the flexibility to adapt to any situation, especially when keeping up with lease schedules and ever-changing technology needs.
The video highlights LaSalle's unique approach to leasing and how it can help customers optimize their lease processes to maximize return on investment (ROI) and achieve a negative internal rate of return (IRR).
Vice President, Leasing Sales
"The problem is that many organizations just don't understand their leases," said John Drake, vice president of leasing sales at LaSalle Solutions. "It's easy to lose track of leases and replacements or to get bogged down in hidden fees. We help to avoid those pitfalls. LaSalle supports customers throughout the lease process, and we don't have any hidden details, fees or evergreen clauses."
About LaSalle Solutions
Founded in 1980, LaSalle Solutions is a leading provider of technology life-cycle asset management services. LaSalle enables its customers to improve their technology operations through enhanced processes, management and reporting for better planning and return on investment. LaSalle Solutions' processes, outstanding customer service and powerful, market-leading cloud-based toolset, LAMP, enable customers to obtain better business outcomes through transparency and reliable results at their fingertips.
LaSalle Solutions is a subsidiary of MB Financial Bank, N.A., a commercial bank headquartered in Chicago, Illinois. MB Financial, Inc. is the publicly traded holding company for MB Financial Bank, N.A. and is traded on the NASDAQ as "MBFI."
Study Finds Companies Heavily Dependent on Spreadsheets for Managing Equipment Leases and Large Companies
Have Greatest Risks
GREAT FALLS, Va., LeaseAccelerator, the leader in Equipment Lease Management software, announced the results of a market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed financial professionals about their state of readiness for the new leasing standards.
The survey also asked respondents to assess the maturity of their processes and systems for managing leased equipment such as aircraft, trucks, forklifts, laptops and data center gear.
The study found that 85% of respondents were in the process of reading, studying, and implementing the new standards. Less than 10% of respondents believed they had the right systems in place to comply today. Of those surveyed, 42% were expecting the implementation of the new standards to be "pretty painful" or "extremely painful."
Additional findings of the study included:
Equipment leasing lacks a consistent owner at many companies. 31% of those with large leasing programs had no designated owner.
Most companies do not have an up-to-date inventory of their leases. 64% of companies with large leasing portfolios stated it could take months.
Most companies do not have a system of record in place for equipment leases. Almost 65% were using spreadsheets or "a little of everything" to track these assets.
"Only a handful of companies have adopted best practices for the accounting and administration of their equipment leases," said Michael Keeler, CEO of LeaseAccelerator. "The majority are relying on spreadsheets with no clear organizational owner or KPIs. Companies should get started now implementing the necessary systems, processes and controls if they are going to meet the deadlines for the new lease accounting standards."
Developed over a period of ten years by the Financial Accounting Standards Board and International Accounting Standards Board, the new lease accounting standards change the way public companies will report leases in their quarterly and annual financial statements. Many real estate and equipment leases, previously only disclosed in the footnotes of investor filings will now be capitalized on corporate balance sheets.
The IASB estimates that over $2.2 Trillion of assets and liabilities will transfer onto corporate balance sheets in the coming years. The implementation deadlines for the new standards start in 2019. However, companies will also have to provide three years of comparative income statement, beginning on January 1st, 2017 for calendar year end filers.
About the study:
On behalf of LeaseAccelerator, in March 2016, an independent, third-party research firm surveyed over 150 treasury, accounting, finance and tax professionals at Fortune 1000 companies about their readiness and expected challenges with implementing the new lease accounting standards.
LeaseAccelerator offers the market-leading SaaS solution for Equipment Lease Management (ELM), delivering hard cost savings, compliance, and best practices to large, international lessees. LeaseAccelerator is the only solution that covers the entire enterprise equipment leasing lifecycle, including: Equipment Lease Sourcing, saving 6-8% by driving down capital costs; Portfolio and Performance Management, saving 8-12% by improving end-of-term return performance; and Lease Accounting, enabling compliance with current and new FASB, IFRS, and SOX standards.
Hitachi, MUFG Plan Leasing Tie-up
with Mitsubishi UFJ Financial Group
TOKYO -- Hitachi and Mitsubishi UFJ Financial Group will form a capital and business tie-up in the field of leasing, creating the second-biggest player domestically and boosting their global competitiveness.
The deal, to be announced Friday, will see Hitachi sell a stake of almost 30% in Hitachi Capital to MUFG and Mitsubishi UFJ Lease & Finance by September, a transaction estimated to be worth more than 100 billion yen ($921 million). Later, the Hitachi group leasing company will take an interest of no more than 5% in its Mitsubishi group counterpart.
Hitachi also aims to tap MUFG's project financing capability. The setup will help to provide more complete packages -- from financial services to equipment installation and maintenance -- for customers of its infrastructure business, which handles areas such as power generation facilities and information technology systems.
Aiding customers in accessing project financing will help Hitachi win big infrastructure-related orders around the globe. As more businesses turn to leasing in pursuit of maximum capital efficiency, Hitachi anticipates leasing demand to increase for its wide range of equipment. Introducing MUFG to customers for business loans also will help Hitachi in this arena.
The tie-up will help MUFG expand its leasing business, which has grown into a major revenue generator. The leasing business is expected to grow even more important for the mega-financial institution, as its mainstay banking business likely will be hurt by the Bank of Japan's negative interest policy.
The Hitachi group holds a roughly 60% stake in Hitachi Capital, which handles leasing of Hitachi products such as IT equipment. With a total asset value of 2.74 trillion yen as of the end of March 2015, the leasing unit ranked fifth in the domestic industry.
Mitsubishi UFJ Lease, positioned third, held more than 5 trillion yen in assets. MUFG's subsidiaries also include BOT Lease.
The combined asset value of 7.78 trillion yen or so between Hitachi Capital and Mitsubishi UFJ Lease will put the partnership behind the top-ranked Orix's roughly 11 trillion yen and ahead of current No. 2 Sumitomo Mitsui Finance and Leasing. In the future, Hitachi and MUFG may consider merging the leasing units.
A bittersweet comedy-drama ("The Family Fang") and an essayistic marvel ("Francofonia") come to theaters, while new DVD releases include an affecting Oscar nominee ("Mustang") and a pair of classics ("In a Lonely Place," "Brief Encounter").
The Family Fang (Starz Digital Media): Known for his dependable straight-man turn in comedies like "Arrested Development" and "Horrible Bosses," Jason Bateman has recently branched out into the director's chair. Following his debut with "Bad Words," this bittersweet tale of thorny family relationships further showcases a growing knack for unpredictable moods. Bateman also stars as Baxter Fang, a novelist who, with his actress sister Annie (Nicole Kidman), return to the family home. Renown figures in avant-garde circles, their parents (Christopher Walken, Maryann Plunkett) are famous for their performance-art hoaxes. But when they suddenly disappear, Annie and Baxter must face their own tangled emotions regarding their eccentric upbringing. Fluidly alternating between humor and poignancy, Bateman's movie offers a smart view of seriocomic dysfunction.
Francofonia (Music Box Films): One of the most acclaimed and eccentric of contemporary filmmakers, Russian director Aleksandr Sokurov ("Russian Ark") moves freely from one experimental project to the next. In his latest, he turns his gaze to the historic Louvre Museum in Paris, particularly during the Nazi invasion of WWII. Though it begins as a documentary, with accounts of the alliance between Louvre director Jacques Jaujard German officer Count Franz Wolff-Metternich, Sokurov soon brings elements of drama and fantasy into the mix. Along with rich glimpses of some of the museum's most famous pieces, we see Napoleon Bonaparte himself wandering the halls side by side with French allegorical icon Marianne. Blending the spiritual and the historical, Sokurov's essay-like marvel makes for heady, challenging, and playfully rewarding viewing. With subtitles.
Netflix Tip: Like David Bowie, Prince (1958-2016) was a one-of-a-kind pop phenomenon who left his mark on several zones of our culture. So celebrate his bold and inventive art with a triple feature of his cinematic ventures, which include "Purple Rain" (1984) and "Under the Cherry Moon" (1986).
Mustang (Cohen Media Group): One of this year’s Oscar nominees for Best Foreign Language Film, this acclaimed drama directed by Deniz Gamze Erguven takes a sensitive look at life at a remote Turkish village. Following an episodic plotline that’s reminded critics of Sofia Coppola’s “The Virgin Suicides,” the film is a portrait of young Lale (Gunes Sensoy) and her four sisters as they struggle with day-to-day oppression. As they encounter the discoveries of adolescences, the girls also must confront the strictures of society, including arranged marriages and burdensome regulations. Even in the harshest situations, however, the characters’ hope and resilience refuse to dim. Benefiting from bold cultural insight, gentle humor, and strong ensemble performances, Erguven’s film blossoms as an ode to sisterhood and independence that’s universally affecting. With subtitles.
In a Lonely Place (Criterion): Humphrey Bogart delivered his most complex performance in Nicholas Ray's remarkable 1950 noir-drama, which devastatingly deconstructs the legendary star’s tough-guy persona. Bogart plays Dixon Steele, a world-weary screenwriter whose quick temper has cost him many a relationship in Hollywood. When he becomes romantically involved with his neighbor Laurel (Gloria Grahame), Dixon seems to discover rare traces of emotional happiness. A shadow hangs over the couple, however, as a police investigation involving the murder of a girl Dixon used to know threatens to pull them apart. With a sharp yet tender touch, Ray ("Rebel Without a Cause") paints an unforgettable portrait of violent and vulnerable characters that anticipates the antihero studies of decades to come. Highly recommended for any serious lovers of cinema.
Brief Encounter (Criterion): Before becoming a specialist in mega-sized spectacles like "Lawrence of Arabia" or "Doctor Zhivago," David Lean directed this exquisitely intimate 1945 drama. Co-written by acclaimed playwright Noel Coward and set in London on the verge of World War II, the story centers on Laura (Celia Johnson), a middle-class wife and mother whose comfortable but conventional life is suddenly complicated once she meets Alec (Trevor Howard) at the train station. The two quickly become friends, arranging meetings at parks and theaters and becoming increasingly aware that their bond is growing into romance. Will they push their bond to the next level? Focusing on the gathering storm of the characters' emotional turmoil, Lean's film works up an indelible atmosphere of longing immensely helped by the sensitive performances of Johnson and Howard.
THE GREATEST HITTER THAT EVER LIVED
by Ken Wasnock
( He is “The Kid,” “The Splendid Splinter,” “Thumper,” “Teddy Ballgame,” he is Theodore Samuel Williams, the greatest hitter who ever lived, the last of the .400 hitters.)
He made his name with a stick of ash,
He carved his memory with each mighty crash
What he did fulfilled his greatest dreams
Clouting that little orb with the hand stitched seams
He parried with pitchers with the keenest of eye
With all of their wizardry they couldn't get by
He beat them with patience, his perfected skill
Few were up to overcoming his enduring will
With practice and determination he earned his wage
Towering over home plate was his center stage
Quick and smooth, the sweetest swing
In a game of hitters he was truly King
From start to finish he awed fan and foe
From April to October he was a one man show
On a gray cloudy day he shined like the Sun
His final at bat he bid us farewell with number 521
Heroes come and go but for me it'll never be the same
None can compare to the Splendid Splinter, the Legend
Mr. Teddy Ballgame.
1607 - The first permanent English settlement was established in Jamestown, VA with one hundred and five from Blackwell, England who traveled on three ships: Susan Constant, Goodspeed and Discovery. Most of them were 'gentlemen adventurers,’ gentlemen who did not work and brought servants…quite British, you know. Captains John Smith and Christopher Newport were among the leaders of the group of royally chartered Virginia Company settlers. The colony was named after England's King James I.
1612 - Tobacco cultivation was undertaken at Jamestown by John Rolfe, who had arrived with the Jamestown settlers. Rolfe was the first settler to come up with a method of curing tobacco, which made it possible grow tobacco drops for export to England. The smoking, chewing, and snuff became very popular and soon were the most important export to Europe. Nicotine made this not only popular, but a daily necessity. It was definitely a "cash crop" for the New World.
1637 - Cardinal Richelieu of France created the table knife
1780 - The Cumberland Compact was signed by leaders of the settlers in early Tennessee. This forerunner of the Tennessee Constitution was signed by these 256 settlers when they settled Fort Nashborough, which would become Nashville. It called for a governing council of twelve judges who would be elected by the vote of free men 21 years of age or older. Unique to the times, the Compact included a clause that these judges could be removed from office by the people. Government salaries were to be paid in goods. Governor was worth 1,000 deer skins. Secretary was to be paid 450 otter skins, and county clerk was valued at 500 raccoon skins. The constable received one mink skin for every warrant served. All males sixteen or older were subject to militia duty.
1846 - Although fighting had begun days earlier, Congress officially declared war on Mexico. The struggle cost the lives of 11,300 American soldiers and resulted in the annexation by the US of land that became parts of Oklahoma, New Mexico, Arizona, Nevada, California, Utah and Colorado. The war ended in 1848.
1861 – Queen Victoria of England issued a "proclamation of neutrality" which recognized the breakaway Confederate states as having belligerent rights.
1862 – The USS Planter, a steamer and gunship, stole through Confederate lines and passed to the Union by a southern slave, Robert Smalls, who later was officially appointed as captain, becoming the first black man to command a United States ship.
1864 - The first soldier buried at Arlington National Cemetery was a Confederate soldier, William Henry Christman, close to what is now the northeast gate in Section 27. George Washington Parke Custis, Martha Washington’s grandson, acquired the land that now is Arlington National Cemetery in 1802, and began construction of Arlington House. The estate passed to Custis' daughter, Mary Ana, who had married then US Army Officer Robert E. Lee. When Virginia seceded from the Union, Lee resigned his commission and took command of the armed forces of the Commonwealth of Virginia, later becoming commander of the Army of Northern Virginia. The Virginia militia occupied Arlington and Arlington House. With Confederate forces occupying Arlington's high ground, the capital of the Union was left in an untenable military position. Although unwilling to leave Arlington House, Mary Lee believed her estate would soon be infested with federal soldiers. So she buried many of her family treasures on the grounds and left for her sister's estate in Fairfax County, Virginia. On May 3, General Winfield Scott ordered Brigadier Gen. Irvin McDowell to clear Arlington and of all troops not loyal to the United States. McDowell occupied Arlington without opposition on May 24. By late 1863, existing cemeteries in the area were nearly full. On July 16, 1862, Congress passed legislation authorizing the U.S. federal government to purchase land for national cemeteries for military dead, and put the U.S. Army Quartermaster General in charge of this program. In May 1864, Union forces suffered large numbers of dead in the Battle of the Wilderness. The Quartermaster ordered that an examination of eligible sites be made for the establishment for a large new national military cemetery. Within weeks, his staff reported that Arlington Estate was the most suitable property in the area. The property was high and free from floods (which might unearth graves), it had a view of the District of Columbia, and it was aesthetically pleasing. It was also the home of the leader of the armed forces of the Confederate States of America, and denying Robert E. Lee use of his home after the war was a valuable political consideration. http://memory.loc.gov/ammem/today/may13.html
1865 – The Battle of Palmito Ranch, near Brownsville, Texas, more than a month after the Confederate surrender, is the last land battle of the Civil War and ends with a Confederate victory. PVT. John J Williams of the 34th Indiana is last man killed.
1880 – Thomas Edison performed the first test of his electric railway, in Menlo Park, NJ.
1908 - President Theodore Roosevelt declares "Conservation is a national duty."
(Lower half of http://memory.loc.gov/ammem/today/may13.html)
1911 - Birthday of pianist Maxine Sullivan (d. 1987), Homestead, PA. http://www.harlem.org/people/sullivan.html http://www.ddg.com/LIS/InfoDesignF96/Ismael/jazz/1940/sullivan.html
1911 – Fred Merkle of the New York Giants, of Merkle’s Boner fame in 1908, became the first Major Leaguer to get 6 RBIs in an inning.
1912 - Jazz arranger and composer Gil Evans (d. 1988) was born in Toronto. Evans, whose career was almost entirely in the US, first became known for his innovative writing for the Claude Thornhill orchestra in the 1940's. In the following decade, Evans collaborated with trumpeter Miles Davis for such classic jazz LPs as "Miles Ahead," "Porgy and Bess" and "Sketches of Spain." He is my favorite jazz composer/arranger. I have all his records; every one. http://www.artistdirect.com/music/artist/bio/0,,428387,00.html ?artist=Gil+Evans http://www.miles-davis.com/GilEvans/ http://gilevans.free.fr/biographie_us/biographie.htm http://www.nprjazz.org/feature/gevans.html http://www.chass.utoronto.ca/~chambers/miles.html http://www.culturekiosque.com/jazz/miles/rhemiles4.htm http://www.pbs.org/jazz/biography/artist_id_evans_gil.htm http://www.melmartin.com/html_pages/Articles/miles.html http://www.walmart.com/catalog/product.gsp?product_id=1540795& sourceid=0100000010991440602498 http://www.edkeane.com/About %20the%20Artists/Miles%20Evans/Mile-Evans.htm http://www.cd-music.org/music/51379Helen-Merrill-w-Gil-Evans.html
1914 - Birthday of one of boxing’s great heavyweight champions, Joe Louis was born Joseph Louis Barrow (d. 1981) near Lafayette, AL. He held the title 1937-49. Nicknamed the "Brown Bomber”, Louis helped elevate boxing from a decline in popularity in the post-Jack Dempsey era by establishing a reputation as an honest, hardworking fighter at a time when the sport was dominated by gambling interests. Louis' championship reign lasted 140 consecutive months, during which he participated in 26 championship fights. Louis was victorious in 25 title defenses, a record for any division. In 2005, Louis was ranked as the #1 heavyweight of all-time by the International Boxing Research Organization, and was ranked #1 on “The Ring’s” list of the 100 Greatest Punchers of All-Time. He is widely regarded as the first African-American to achieve the status of a nationwide hero within the US, and was also a focal point of anti-Nazi sentiment leading up to and during World War II. He was instrumental in integrating the game of golf, breaking the sport's color barrier in America by appearing under a sponsor's exemption in a PGA event in 1952. In 1943, he enlisted as an Army private and was stationed at Ft. Riley, KS. There he helped the cause of various black soldiers with whom he came into contact. In one noted episode, Louis contacted his lawyer in order to facilitate the Officer Candidate School applications of a group of African Americans at Fort Riley, which had been inexplicably delayed for several months. Among the OCS applications Louis facilitated was that of a young Jackie Robinson. The episode would spawn a personal friendship between the two men. His burial at Arlington National Cemetery, by presidential waiver, was the 39th exception ever to the eligibility rules for burial in Arlington National Cemetery. http://www.cmgww.com/sports/louis/louis.html
1923 - Birthday of Pianist Red Garland (d. 1984), Dallas, TX. http://www.allaboutjazz.com/bios/rxgbio.htm http://rollingstone.com/artists/default.asp?oid=7408 http://www.amazon.com/exec/obidos/tg/stores/artist/glance/- /41495/103-9368180-9796616
1926 - Birthday of Beatrice Arthur, born Beatrice Frankel (d. 2009) in NYC. Actor and singer who won the Tony Award for Best Supporting Actress in “Mame” (1966). Her TV series “Maude,” a spin-off of “All in the Family,” was a hit during the 1970s and she was one of the “Golden Girls,” another long running TV hit series.
1930 - A man was killed when caught in an open field during a hailstorm northwest of Lubbock TX. It was the first, and perhaps the only, authenticated death by hail in U.S. weather records.
1931 – Cult Leader Jim Jones was born in Randolph County, IN. Jones is notorious as founder and the leader of the Peoples Temple, best known for the mass murder-suicide in November, 1978 of 909 of its members in Jonestown, Guyana, the murder of five people at a nearby airstrip, including California Congressman Leo Ryan. Nearly three-hundred children were murdered at Jonestown, almost all of them by cyanide poisoning. Jones died from a gunshot wound to the head; it is suspected his death was a suicide.
1933 - Birthday of saxophonist Buddy Catlett (d. 2014), Long Beach, CA http://www.ponyboyrecords.com/files/nova/trio/nova_trio.html http://members.aon.at/jazzclub-life-salzburg/images/Musiker/ http://www.oldpop.net/musics/Donna.htm catlett.htm
1938 - Louis Armstrong records "When the Saints Go Marching In."
1939 - The first commercial FM radio station in the United States launched in Bloomfield, CT. The station later became WDRC-FM.
1941 - 50s rock 'n' roll singer Ritchie Valens was born Richard Steven Valenzuela in Pacoima, California. He was signed by Del-Fi Records in 1958, and had three big hits that year with "Come On, Let's Go," "Donna" and "La Bamba." Valens was killed in the plane crash in Iowa with Buddy Holly and the Big Bopper in February, 3, 1959…"...the day music died." There was a resurgence of interest in Valens' music in 1987 with the release of the movie biography "La Bamba." http://www.fiftiesweb.com/crash.htm http://www.oldpop.net/musics/Donna-RichieVallens(LosLobos).htm http://www.geocities.com/roger-brasil/rock/la_bamba.mid
1943 - General Sir Harold Alexander telegraphed Winston Churchill, who was in Washington attending a conference, "It is my duty to report that the Tunis campaign is over. All enemy resistance has ceased. We are masters of the North African shores." About 250,000 Germans and Italians surrendered in the last few days of the campaign. This Allied victory in North Africa helped open Mediterranean shipping lines.
1943 - Birthday of singer Mary Wells (d. 1992) in Detroit. Probably best known for her song, "My Guy", she was one of the group of black artists of the 60's who helped end musical segregation by being played on white radio stations. http://www.cmgww.com/music/wells/
1947 – The Senate approved the Taft-Hartley Act limiting the power of unions.
1948 – On the day before the signing of its declaration of independence, Israel suffers a tragic loss at the hands of Arab irregulars at the Kfar Etzion Massacre.
1949 - Top Hits
“Cruising Down the River” - The Russ Morgan Orchestra
(vocal: The Skyliners)
“Forever and Ever” - Perry Como
“Careless Hands” - Mel Torme
“Lovesick Blues” - Hank Williams
1950 - Stevie Wonder, whose real name is Steveland Morris Hardaway, was born in Saginaw, Michigan. He sang and played the harmonica so well that Ronnie White of the Miracles brought him to Motown records, where Berry Gordy signed him on the spot. Wonder's third single, "Fingertips-Part Two," shot to the top of the Billboard Hot 100 in the summer of 1963. Since then, Stevie Wonder has developed into one of the greatest pop composers and vocalists of our time. His songs, such as "For Once in My Life," "Signed, Sealed, Delivered, I'm Yours" and "You Are the Sunshine of My Life," appeal to a wide range of the public taste. Almost all of his albums have sold enough to qualify for gold records. The one notable exception was 1977's "Journey Through the Secret Life of Plants," a mostly instrumental album which failed to catch on with the public. http://www.motowndiscography.com/pages/Artists/Stevie.html http://www.stevie-wonder.com/
1951 – E Street drummer Max Weinberg was born in Newark, NJ.
1952 – Ron Necciai of the Bristol Twins struck out 27 batters while throwing a 7-0 no-hitter against the Welch Miners in the Class D Appalachian League. He is the only pitcher ever to do so in a nine-inning, professional baseball game. Four hitters did reach base, a walk, error, hit batter, and a third-strike passed ball. Only two batters put the ball in play. In his next start, Necciai threw a 24-strikeout two-hitter. In that season, he struck out 109 hitters in 43 innings with Bristol.
1954 - President Dwight Eisenhower signed legislation authorizing US-Canadian construction of a waterway that would make it possible for oceangoing ships to reach the Great Lakes. The construction of the St. Lawrence Seaway was underway.
1954 - "The Pajama Game" made its debut on Broadway in New York City at the St. James Theatre, the first Broadway endeavor of producer Harold Prince. The show ran for 1,063 performances. John Raitt and Janis Paige starred in the leading roles. Carol Haney came to national fame for her rendition of the song, "Steam Heat". The movie version also starred Raitt along with Doris Day.
1954 – Robin Roberts of the Philadelphia Phillies gave up a HR to the first batter, then retired 27 in a row. The lead-off home run was hit by Bobby Adams of the Cincinnati Reds, who lost the one-hitter, 8-1.
1955 - At tonight's show in Jacksonville, FL, Elvis Presley tells the girls who make up the majority of the 14,000-plus crowd that he'll "see (them) backstage." The crowd proceeds to do just that, ripping the King's clothes, causing Elvis' first-ever riot and, reportedly, convincing Tom Parker about Elvis' popularity once and for all.
1955 – Mickey Mantle hit 3 consecutive home runs of at least 463'.
1957 - Top Hits
“School Day” - Chuck Berry
“A White Sport Coat (And a Pink Carnation)” - Marty Robbins
“So Rare” - Jimmy Dorsey
“All Shook Up” - Elvis Presley
1957 - Elvis begins filming his third movie, “Jailhouse Rock”, in Hollywood.
1958 - During a visit to Caracas, Venezuela, Vice President Nixon’s car was attacked by anti-American demonstrators.
1958 - Stan Musial of the St. Louis Cardinals got the 3,000th hit of his career, a pinch-hit double off Moe Drabowsky of the Chicago Cubs. “The Man” finished his career in 1963 with 3,630 hits, 1,815 at home and an equal number on the road. http://www.stan-musial.com/
1958 – Velcro was first registered as a trademark.
1960 - The juvenile delinquent movie “Platinum High School”, starring Conway Twitty, opens in New York.
1960 – The Free Speech Movement was born when hundreds of University of California students congregated in Berkeley for the first day of protest against a visit by the House Committee on Un-American Activities. Thirty-one students were arrested.
1962 - The Beatles began their legendary stint at the new Star-Club in Hamburg, Germany. Performing three to four hours a night for 48 days, with only one day off, the group logged a total of 172 hours of performance. When they return to England, they were already stars with a recording contract.
1963 - The Beach Boys released "Surfin' USA".
1964 – Stephen Colbert was born in DC. After years on the hit Comedy Channel’s “The Colbert Report”, he has been chosen to take over from David Letterman as host of CBS’ “The Late Show”, premiering on September 8, 2015.
1965 - Elvis Presley's sixteenth movie, “Tickle Me”, premieres in Hollywood.
1965 - Top Hits
“Mrs. Brown You've Got a Lovely Daughter” - Herman's Hermits
“Count Me In” - Gary Lewis & The Playboys
“Ticket to Ride” - The Beatles
“Girl on the Billboard” - Del Reeves
1966 – Federal education funding was withheld from 12 school districts in the South because of violations of the 1964 Civil Rights Act
1967 - Slugging outfielder Mickey Mantle of the New York Yankees hit the 500th home run of his career against Stu Miller of the Baltimore Orioles. The homer propelled the Yankees to a 6-5 victory. Mantle finished his career in 1968 with 536 home runs, third on the all-time list at the time of his retirement after the next season. http://www.mickeymantle.org/
1967 - The Rolling Stones played their first-ever gig behind the "Iron Curtain" with a performance in Warsaw. When the club became overrun by kids without tickets, the local police reacted by dispersing the crowd with tear gas.
1969 - DUNAGAN, KERN W., Medal of Honor
Rank and organization: Major, U.S. Army, Company A, 1st Battalion, 46th Infantry, Americal Division. Place and date: Quang Tin Province, Republic of Vietnam, 13 May 1969. Entered service at: Los Angeles, Calif. Born: 20 February 1934, Superior, Ariz. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Maj. (then Capt.) Dunagan distinguished himself during the period May 13 and 14, 1969, while serving as commanding officer, Company A. On May 13, 1969, Maj. Dunagan was leading an attack to relieve pressure on the battalion's forward support base when his company came under intense fire from a well-entrenched enemy battalion. Despite continuous hostile fire from a numerically superior force, Maj. Dunagan repeatedly and fearlessly exposed himself in order to locate enemy positions, direct friendly supporting artillery, and position the men of his company. In the early evening, while directing an element of his unit into perimeter guard, he was seriously wounded during an enemy mortar attack, but he refused to leave the battlefield and continued to supervise the evacuation of dead and wounded and to lead his command in the difficult task of disengaging from an aggressive enemy. In spite of painful wounds and extreme fatigue, Maj. Dunagan risked heavy fire on 2 occasions to rescue critically wounded men. He was again seriously wounded. Undaunted, he continued to display outstanding courage, professional competence, and leadership and successfully extricated his command from its untenable position on the evening of May 14. Having maneuvered his command into contact with an adjacent friendly unit, he learned that a 6-man party from his company was under fire and had not reached the new perimeter. Maj. Dunagan unhesitatingly went back and searched for his men. Finding 1 soldier critically wounded, Maj. Dunagan, ignoring his wounds, lifted the man to his shoulders and carried him to the comparative safety of the friendly perimeter. Before permitting himself to be evacuated, he insured all of his wounded received emergency treatment and was removed from the area. Throughout the engagement, Maj. Dunagan's actions gave great inspiration to his men and were directly responsible for saving the lives of many of his fellow soldiers. Maj. Dunagan's extraordinary heroism above and beyond the call of duty, are in the highest traditions of the U.S. Army and reflect great credit on him, his unit, and the U.S. Army.
1969 – Singer Diana Ross, having left The Supremes, made her first television appearance as a solo act, performing on Dinah Shore's NBC special “Like Hep”.
1970 - WINDER, DAVID F., Medal of Honor
Rank and organization: Private First Class, U.S. Army, Headquarters and Headquarters Company, 3d Battalion, 1st Infantry, 11th Infantry Brigade, Americal Division. Place and date: Republic of Vietnam, 13 May 1970. Entered service at: Columbus, Ohio. Born: 10 August 1946, Edinboro, Pa. Citation: Pfc. Winder distinguished himself while serving in the Republic of Vietnam as a senior medical aid man with Company A. After moving through freshly cut rice paddies in search of a suspected company-size enemy force, the unit started a thorough search of the area. Suddenly they were engaged with intense automatic weapons and rocket propelled grenade fire by a well-entrenched enemy force. Several friendly soldiers fell wounded in the initial contact and the unit was pinned down. Responding instantly to the cries of his wounded comrades, Pfc. Winder began maneuvering across approximately 100 meters of open, bullet-swept terrain toward the nearest casualty. Unarmed and crawling most of the distance, he was wounded by enemy fire before reaching his comrades. Despite his wounds and with great effort, Pfc. Winder reached the first casualty and administered medical aid. As he continued to crawl across the open terrain toward a second wounded soldier he was forced to stop when wounded a second time. Aroused by the cries of an injured comrade for aid, Pfc. Winder's great determination and sense of duty impelled him to move forward once again, despite his wounds, in a courageous attempt to reach and assist the injured man. After struggling to within 10 meters of the man, Pfc. Winder was mortally wounded. His dedication and sacrifice inspired his unit to initiate an aggressive counterassault which led to the defeat of the enemy. Pfc. Winder's conspicuous gallantry and intrepidity in action at the cost of his life were in keeping with the highest traditions of the military service and reflect great credit on him, his unit and the U.S. Army
1971 - Aretha Franklin, the 'Queen of Soul', received a gold record for her version of "Bridge over Troubled Water", originally a Paul Simon and Art Garfunkel tune. http://webhome.globalserve.net/ebutler/ http://www.rollingstone.com/artists/default.asp?oid=457
1973 - Top Hits
“Tie a Yellow Ribbon Round the Ole Oak Tree” - Dawn featuring Tony Orlando
“You are the Sunshine of My Life” - Stevie Wonder
“Little Willy” - The Sweet
“Come Live with Me” - Roy Clark
1973 - Tennis star Bobby Riggs defeated Margaret Court in a televised tennis match that was seen worldwide. He went on to face Billy Jean King, in a typical "Don King" hype, after appearing on many radio and television shows saying a man tennis player can always beat a woman tennis player. At that time Billy Jean King, his opponent, was still in the closet, and she whipped his butt at the Houston Astrodome. The event allegedly brought women's tennis to the forefront as a competitive sport with a growing legion of fans. It certainly made Riggs a lot of money, plus put him on a circuit for more as the man for women to beat. Died Oct. 27, 1995. http://www.washingtonpost.com/wp-srv/sports/longterm/ memories/1995/95pass5.htm
1978 - Paul Anka opened a disco in Las Vegas named after his early gospel-disco number "Jubilation."
1978 – Former A’s and Giants’ lefty, Barry Zito, was born in Las Vegas. He won the 2002 Cy Young Award in the American League with a 23-5 record for the Oakland A’s. He never approached that level of excellence again and retired after the 2015 season.
1980 - After $8 million in ticket sales and 3,883 performances, a record run for the time (not to mention one major motion picture), the Fifties musical “Grease” closed on Broadway.
1981 - Top Hits
“Morning Train (Nine to Five)” - Sheena Easton
“Just the Two of Us” - Grover Washington, Jr./Bill Withers
“Bette Davis Eyes” - Kim Carnes
“Am I Losing You” - Ronnie Milsap
1981 - A tornado 450 yards in width destroyed ninety percent of Emberson, TX. People did not see a tornado, but rather a wall of debris. Homes were leveled, a man in a bathtub was hurled a quarter of a mile, and a 1500 pound recreational vehicle was hurled 500 yards. Miraculously no deaths occurred in the tornado.
1982 - The Chicago Cubs, charter members of the National League won the 8,000th game in their history, beating the Houston Astros in the Astrodome, 5-0. The Cubs began their existence as the Chicago White Stockings in the National Association (1871, 1874-75) and moved to the National League in 1876. The team changed its name to the Colts in 1890, to the Orphans in 1898, and the Cubs in 1902.
1983 – Reggie Jackson became the first Major Leaguer to strike out 2000 times.
1984 - "The Fantasticks", playing at the Sullivan Theatre in Greenwich Village in New York City, became the longest-running musical in theatre history with performance number 10,000 on this night. "The Fantasticks" opened on May 3, 1960.
1985 - During the siege of the radical group MOVE at Philadelphia, PA, police in a helicopter reportedly dropped a bomb containing the powerful military plastic explosive C-4 on the building in which the group was housed. The bomb and the resulting fire left 11 persons dead (including four children) and destroyed 61 homes.
1985 - Tony Perez became the oldest Major League baseball player to hit a grand slam home run. Perez hit the grand slam for the Cincinnati Reds, helping the Reds to a 7-3 win over the Houston Astros. Perez was just a month shy of his 43rd birthday when he connected for the big dinger.
1985 - 'The Boss', Bruce Springsteen, married actress/model Julianne Phillips in ceremonies in Lake Oswego, OR. The couple went their separate ways in 1989. Springsteen's hit, "I'm on Fire", was in the top ten when the couple tied the wedding knot. Springsteen remarried in June of 1991, this time to a member of his E Street Band, Patti Scialfa, a true Jersey Girl, with whom he remains married. Despite his popularity, Springsteen has never had a number one song. His closest to the top of the pop music charts was a four-week stay at number two with "Dancing in the Dark" (June/July, 1984). Springsteen has had 11 hits in the top ten. http://www.brucespringsteen.net/ http://www.springstomania.com/content.html http://www.nj.com/springsteen/
1989 - Top Hits
“I'll Be There for You” - Bon Jovi
“Real Love” - Jody Watley
“Forever Your Girl” - Paula Abdul
“Is It Still Over?” - Randy Travis
1989 - Thunderstorms developing along a warm front produced severe weather in the Southern Plains Region during the afternoon and night. A thunderstorm at Killeen, TX produced wind gusts to 95 mph damaging 200 helicopters at Fort Hood causing nearly $500 million damage. Another thunderstorm produced softball size hail at Hodges, TX.
1990 - Thunderstorms developing ahead of a cold front spawned ten tornadoes from eastern Wyoming to northern Kansas, including seven in western Nebraska. Thunderstorms forming ahead of a cold front in the eastern U.S. spawned five tornadoes from northeastern North Carolina to southern Pennsylvania. Thunderstorms over southeast Louisiana deluged the New Orleans area with four to eight inches of rain between 7 AM and Noon.
1991 - A way ahead of its time, Apple introduced an improved version of its Macintosh system software, called System 7.0, on this day in 1991. The new system let all Macintoshes share files in a network without the intervention of a server, and it also introduced "balloon help" - pop-up text windows offering helpful hints.
1994 - After nine years of a very public marriage, Billy Joel and Christie Brinkley announced they have separated. They divorced later in the year.
1994 – Johnny Carson made his last television appearance on “The Late Show with David Letterman.” He died in 2005.
1997 – Eddie Murray became the sixth player in MLB history to play in 3000 games.
2014 - A shipwreck off of Haiti may be that of the Santa Maria, one of the three ships led by Christopher Columbus. The wreck was discovered in 1994, but was only now tentatively identified in light of Columbus' writings and other evidence.