Co-Lessee vs. Personal Guarantee

We lease to a large number of small and medium size companies where the principle owner or a small group of individuals controls the company. In these transactions it is wise to request guarantees because as a lease we are precluded from requesting additional collateral or placing restrictive covenants, or indentures, in the lease. While this is acceptable in bargain purchase option leases, there is no language in a lease agreement that allows for these issues. Therefore additional documents are required or we move on to requesting additional payments or security deposits.

When it is not possible to obtain additional monies to secure the transaction we request personal guarantees. The usual reason they are requested in good credit companies is to allow the owners complete freedom of movement of their assets. Without the guarantees and total control over the company it is possible to transfer all the companies’ assets out of the company’s name into their personal capital and bankrupt the shell of the remaining company. This would leave the lessor holding the bag with the exception of the leased equipment.

Personal guarantees can sometimes be more of a burden than a help because some States require you to first take all actions against the lessee including repossession, sale and litigation for the deficiency prior to taking any action against the guarantors. In these States it is better to request a business guarantor to sign as a co-lessee instead of a guarantor. This allows you to request the co-lessee to perform all of the requirements of the lessee including requesting past due payments, providing insurance coverage and paying any assessed taxes.

The language for a co-lessee is usually better on a separate document rather than having them sign on the lease itself. This allows for a clear presentation of their obligations such as:

1. Each representation and warranty made herein by Lessee shall be deemed to have been made by Co-lessee; each covenant and undertaking herein on the part of Lessee shall be deemed individually applicable with respect to Co-Lessee; and each event constituting an Event of Default under the Lease shall be determined with respect to Co-Lessee. A separate action or actions may be brought and prosecuted against either Lessee or Co-Lessee whether an action is brought against any other party or whether any other party is joined in any such action or actions. Co-Lessee waives any right to require Lessor to: (a) proceed against any other party: (b) proceed against or exhaust any security held by Lessor from any other party; or (c) pursue any other remedy in Lessor's power whatsoever. Notices hereunder required to be provided to Lessee shall be effective if provided to either such party. Any consent on the part of Lessee shall be effective when provided by either such party, and Lessor shall be entitled to rely upon any notice or consent given by either such party as being notice or consent given by both such parties.

This is only part of the Co-Lessee document but it shows the Co-Lessee that they have complete responsibility for the lease and it frees you to press you claims against both parties.

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

 

(Leasing News provides this ad as a trade for appraisals and equipment valuations provided by Ed Castagna)

 

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Texas Secured Creditor Denied Summary
Judgment Where it Spent $50,000 to Tow
and Refurbish a Boat Which it Sold for $16,000

By Tom McCurnin
Leasing News Legal Editor

Debtors Love to Second Guess Secured Creditor’s Actions in Refurbishing Collateral. Here, Spending $50,000 for a $16,000 Boat Seem Unreasonable. 

Provident Bank v Steele, 83 UCC Rep. Serv.2d 433 (S.D. Texas 2014)

Secured creditors are often damned if they do, and damned if they don’t.  In other words, criticized after they repossess and fail to gussie up the collateral for resale, and conversely criticized for spending too much money preparing the collateral for resale. Here the secured creditor spent $50,000 on a boat which it later sold for $16,000. The facts follow.

This is a routine breach-of-contract case in which the creditor, Provident Bank, sought damages from the borrower, Melanie Steele, for her default on a boat loan. Steele bought the boat for $148,884 in 2008.  Four years later, Steele defaulted and the Bank repossessed the boat. The outstanding balance was $142,941. Provident Bank repossessed the boat and sold it at a private sale for $16,213.85. Before doing so, the Bank spent $50,000 for towing and refurbishing the boat. The Bank then sought a deficiency judgment of $130,000.

The borrower defended, making two arguments. First, that it was ridiculous for the Bank to spend $50,000 on a boat which it later sold for $16,000.  Second, the borrower argued that since the price of the boat was $149,000 four years earlier, the sales price of $16,000 was unreasonable. Indeed, she would owe the Bank less if the Bank never repossessed and sold the boat. 

The Bank moved for summary judgment. 

The court held that the borrower had a colorable claim, that either the Bank over-spent on the refurbishment expenses or that the sales price was commercially unreasonable. The Bank presented scant evidence as to why the charges were necessary or why the boat sold for such a low price. Accordingly, the court denied the Bank’s summary judgment, and the parties will face a trial. Essentially, the borrower won this battle, and the Bank lost.

What are the lessons here for the secured lender?

First, know when to hold ‘em and know when to fold ‘em. Hindsight being 20-20, it would have made more sense to waive the collateral and simply sue on the note. I’m not much of a fan of repossessing and reselling leased equipment and collateral where the value of the equipment is less than $100,000. Quite frankly, if the creditor has properly underwritten the loan, the collateral is irrelevant. This might have been a good situation to walk away from the collateral.

Second, the secured creditor needs to understand the collateral before it repossesses and re-sells. Once that decision is implemented, there is no turning back, and the borrower will have built in defenses to the deficiency.  I’m surprised the Bank did not understand the true value of the collateral before it embarked on that path. 

The bottom line to this case is that secured equipment and collateral may have value or may actually be an impediment to collection.  The lessor should know where it stands with that collateral before it commits to repossession and re-sale. 

Provident Bank Case
http://www.leasingnews.org/PDF/ProvidentBank2016.pdf

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: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com
Previous Tom McCurnin Articles:
http://www.leasingnews.org

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)

 

[headlines]
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“How Do I Tell Them Politely – Not Interested?”
Career Crossroad---By Emily Fitzpatrick/RII

 I have mentioned many times in my columns that your reputation is everything in this very small industry – watch how you conduct yourself; word will get around!  

If you:
1.       Have gone through a series of interviews and determined a particular company/opportunity is a good fit and you: ACCEPT an offer (verbally or in writing) NEVER EVER, RENEGE or take a COUNTER OFFER
2.       If you receive an offer and are not sure, let the Hiring Manager or Recruiter know you need some time to review; then in a TIMELY MANNER follow up with questions and/or acceptance and/or decline NOTE: if you have taken the process seriously, you should only need 48 hours, as due diligence should have been occurring along the way

As soon as you think the company/offer is not a good fit for your current and/or long-term goals, then cease the process ASAP (in a professional manner)! 

Best practice, is to CALL the Hiring Manager and/or Recruiter to advise you would like to cease the interview process (only address what you feel is most appropriate, e.g. I do not think this is a good long-term fit for my career goals, or the amount of travel is more than I anticipated).   The Recruiter and/or Hiring Manager will RESPECT the fact you took the time to make the awkward call (it is not the easiest thing to do, but shows professionalism and courage).

Furthermore, make sure to thank them for their time and effort.  Note the first call you should make is to your Recruiter as they will know how to address the situation and will offer tips on how to handle the call to the point of contact with the hiring organization (ALWAYS keep in touch with your Recruiter). 

In addition, you will need to email a note all interviewers involved in your interview process. You don't have to give extensive details and definitely do not include any offensive reasons, e.g., a poor work environment or feeling uncertain about the company's long-term future and profitability.  

Sample Letter:
Dear Name (s) with Title(s):
Thank you very much for considering me for the position of Job Title and for inviting me to interview with Company Name. However, I would like to withdraw my application for the job. Give “mini” explanation, but say something positive about the organization: its people, etc.… If you like, mention your interest for future consideration (IF THIS IS True) for more “suitable” opportunities (e.g. one that does not require so much travel). 
I sincerely appreciate you taking the time to review my credentials (and/or application). 
Best Regards, 
Your Name
Email address
Phone 

As with any communication sent to an employer, it's important to make sure that your letter is well-written and does not contain typos or grammatical errors. Even though you are declining the job, you want to make sure all your correspondence is professional.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO
https://www.pinterest.com/recruitersinter/rii-career-services/

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

 

Labrador Retriever Mix
Albany, New York  Adopt-a-Dog
(Requirement must live within 40 miles Albany Airport)

Luke
Male
Color: Black
Coat Length: Short
8 Months Old
35 lb.
Neutered
Current on Vaccinations

Adoption Fee: $295

 "I am a very friendly, happy young lab. I am great with other dogs and I love everyone. I am looking for my forever home."

Our adoption clinics are at our new facility in Schenectady on John Street, directly behind Boulevard Bowl (Erie Boulevard) every Saturday from 10 am to 1 pm (directions are on our website). We require an approved application before we consider anyone for an adoption - so filling out the application is your first step.

If you are not within 40 miles of the Albany Airport, please do not apply. This a distance we decided upon and if you disagree with our definition for out-of-the-area, please feel free to look for a dog in your community.

On Line Application:
http://www.homewardbounddogrescue.com/application.php

Homeward Bound Dog Rescue of NY
518.424.1738
PO Box 5782
Albany, NY 12205
info@homewardbounddogrescue.com

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

News Briefs---

Crowdfunding Law Off to Slow Start
http://www.crainscleveland.com/article/20160529/NEWS/
160529820/crowdfunding-law-off-to-slow-start

Credit cycle turns against small business
Owners seeks alternatives as regulators, Fed policy pinch loans
http://www.sandiegouniontribune.com/news/2016/may/29/credit-cycle-turns-against-small-business/

 

 

 
[headlines]
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--You May Have Missed It

Microsoft bans ‘12345’ and other common passwords to boost security
http://www.seattletimes.com/business/technology/microsoft-bans-12345-and-other-commonly-used-passwords-to-increase-security/

[headlines]
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SparkPeople--Live Healthier and Longer

12 Tips to Drink 8 Cups a Day
Water Tactics that Help You Get in Your 8
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=1014

[headlines]
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Baseball Poem

Three Run Homers, or, Rupert Brooke Celebrates Baseball

I think that I shall never see
A poem lovely as a three
Run homer when the team is pressed
Against the wall and quite distressed,
A homer that may at evening scare
A nighthawk circling in the air,
Or, 'neath the arc lights blazing bright,
Restore the score and set things right,
Rescue the pitcher and save the game,
And set the home team crowd aflame:
Poems are made by fools like me,
But only heroes knock in three.

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

Sports Briefs----

Warriors capture game 7, set up Finals rematch
http://sports.yahoo.com/blogs/nba-ball-dont-lie/warriors-take-thrilling-game-7-vs--thunder-to-reach-nba-finals-034643242.html

WATCH: Steph Curry leaves no doubt with this Game 7 dagger
http://www.cbssports.com/nba/news/watch-steph-curry-shows-why-hes-mvp-with-this-game-7-dagger-to-close-out-okc/

Pens edge Sharks for Game 1
http://www.si.com/nhl/2016/05/30/pittsburgh-penguins-top-san-jose-sharks-game-1-stanley-cup-final-nick-bonino

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

California Nuts Briefs---

Hearing on Faraday Future Electric Car Plant North Mare Island to be held Tuesday Night Vallejo City Council
http://www.timesheraldonline.com/government-and-politics/20160526/time-of-special-vallejo-city-council-meeting-changed
http://www.timesheraldonline.com/government-and-politics/20160524/vallejo-eyes-partnership-with-car-facility-for-mare-island

Quinn: Dustup over Google buses in the heart of Silicon Valley
http://www.mercurynews.com/michelle-quinn/ci_29955736/quinn-dustup-over-google-buses-heart-silicon-valley

[headlines]
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“Gimme that Wine”

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

Local winery submits petition to create Upstate New York wine region
http://news10.com/2016/05/25/local-winery-submits-petition-to-create-upstate-new-york-wine-region/

Top Ten Crowdfunded Drinks Projects
https://www.thedrinksbusiness.com/2016/05/top-10-crowdfunded-drinks-projects/

The next great wine idea comes with a tab top
http://www.nola.com/dining/index.ssf/2016/05
/the_next_great_wine_idea_comes.html

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/

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

      1634 – The Massachusetts Bay colony annexed the Maine colony.  Maine was a district of the state of Massachusetts until 1820.
    1638 - Colonial clergyman Thomas Hooker, 51, first arrived at the site of New Haven, CT, having migrated there with his church members who repudiated the autocratic rule of Puritanism in Boston. Hooker, the founder of Connecticut, believed Boston had become corrupt, and that church authority should rest in the people's consent. School books present that many Europeans came to the US to escape religious prosecution, when in fact, while this is basically true, it was to foster their own religious views and they were quite prejudiced about anyone else's beliefs.
    1790 - President George Washington signed the first US Copyright law. It gave protection for 14 years to books written by US Citizens. In 1891, the law was extended to cover books written by foreign authors as well.
    1819 - Birthday of Walt Whitman (d. 1892), poet and journalist, born at West Hills, Long Island, NY. Whitman's best known work, “Leaves of Grass,” (1855) is a classic of American Poetry. His poems celebrated all of modern life, including subjects that were considered taboo at the time. Whitman wrote about the Civil War, living in a tent with other soldiers, and, perhaps not as well known, was his keen interest in baseball, of which he said, “I see great things in baseball. It's our game, the American game.” My favorite is “Oh, Captain, My Captain,” written about Abraham Lincoln and not knowing the Civil War had been won.
http://www.bartleby.com/142/193.html
http://jefferson.village.virginia.edu/whitman/
http://memory.loc.gov/ammem/today/may31.html
    1821 - The first Catholic cathedral in the U.S., The Cathedral of the Assumption of the Blessed Virgin Mary, was dedicated in Baltimore.
    1830 - A tornado with a 400 yard wide track swept through Shelbyville, Kentucky. The tornado, which killed many people, was described in the "American Journal of Science."
    1837 – The Astor Hotel opened in New York City.  It later became the Waldorf-Astoria.
    1859 – The Philadelphia Athletics organized to play "town ball," becoming baseball 20 years later.
    1862 - The Confederates, led by General Joseph E. Johnston, defeated McClellan's Army of the Potomac at the Battle of Seven Pines (Fair Oaks, Virginia –the Battle called by Historians as Seven Pines and Fair Oaks). Although winning the battle and seeing General George B. McClellan's forces run, it turned out not to be a true victory, but became a stalling tactic by the Union. This was not McClellan's aim, (war historians consider him an idiot) but it did change the course of the fighting, plus opened the way for the Union to go after the prestige of the Confederate Capital of Richmond. This was the bloodiest battle of the war to date with 5,000 Federal casualties, and 6,000 Confederate casualties.  With General Johnson seriously wounded at Fair Oaks, there was no one to take command and a dispute on his successor was solved the next day by Jefferson Davis.  He surprised other generals by appointing Robert E. Lee as commander of the Army of Northern Virginia on June 1. General Johnston was a more experienced commander and was reportedly going to change the tactics.
http://ourworld.compuserve.com/homepages/HMore/battleof.htm
http://home.att.net/~al_6th_inf/history_7_pines.htm
http://home.att.net/~al_6th_inf/letters_doc.htm
http://www.peninsulacampaign.org/7pines.shtml
http://www.fireandfury.co.uk/sevenpinesUS.htm
http://www.tennessee-scv.org/camp28/johnstonbio.html
    1862 - Birthday of Cynthia May Westover Alden (d. 1931), Afton, IA.  She founded an international society to aid the blind. While working as secretary to the N.Y. city commissioner of street cleaning she invented and patented an improved combination street cleaner's handcart and a self-cleaning dump cart. She began a custom of sending Christmas cards to shut-ins, and then began to send gifts. Through publicizing the need in her newspaper columns, the Sunshine Society was organized. At her death, the society that she headed for 31 years, had 500 local chapters in 38 states and 8 foreign nations and operated hospitals and homes for the blind and orphans, summer camps, lodges, facilities for working women, and other services.
    1868 – The first Memorial Day parade was held in Ironton, OH.
    1879 – Madison Square Garden opened.  Formerly Gilmore Gardens, it was renamed by William H. Vanderbilt and opened to the public at 26th Street and Madison Ave.
    1889 - Johnstown Flood, heavy rains caused the Connemaugh River Dam to burst. At nearby Johnstown, PA, the resulting flood, hit the city with a 75 foot wall high of water and a half a mile wide. The flood caused 2,205 deaths and destroyed the homes of thousands more, over $10 million at the time. Nearly 800 unidentified drowning victims were buried in a common grave at Johnstown's Grandview Cemetery. So devastating was the flood and so widespread the sorrow for its victims that “Johnstown Flood' entered the language as a phrase to describe a disastrous event. The dam had held back the waters of Connemaugh Lake, which was about 2.5 miles long and 1.5 miles wide, with an average depth of 50 feet. The valley city of Johnstown, in the Allegheny Mountains, has been damaged repeatedly by floods. Floods in 1936 (25 deaths) and 1977 (85 deaths) were the next most destructive.
http://www.jaha.org/flood/
    1894 – John W. Kellogg patented flaked cereal.
    1894 – Fred Allen (d. 1956) was born John Florence Sullivan in Cambridge, MA.  Allen was a comedian whose absurdist, topically-pointed radio program, “The Fred Allen Show” (1932–1949), made him one of the most popular and forward-looking humorists in the Golden Age of American Radio.  His best-remembered gag was his long-running mock feud with friend and fellow comedian Jack Benny, but it was only part of his appeal; radio historian John Dunning (in “On the Air: The Encyclopedia of Old-Time Radio”) wrote that Allen was radio's most admired comedian and most frequently censored. A master ad libber, Allen often tangled with his network's executives (and often barbed them on the air over the battles) while developing routines whose style and substance influenced fellow comic talents, including Groucho Marx, Stan Freberg, Henry Morgan, and Johnny Carson; his avowed fans also included President Franklin Roosevelt, and novelists William Faulkner, John Steinbeck, and Herman Wouk (who began his career writing for Allen).  Allen was honored with stars on the Hollywood Walk of Fame for contributions to television and radio.
    1898 - Birthday of Norma Vincent Peale (d. 1993), American religious leader, at Bowersville, OH. He is best known for his book, “The Power of Positive Thinking,” (1952), which combines religion and psychiatry. He was a minister at the Marble Collegiate Church at New York, NY.
http://www.marblechurch.org/
http://cnview.com/on_line_resources/
norman_vincent_peale_apostle_of_self_esteem.htm
    1904 - Birthday of Otto Toby Hardwicke (d. 1970), Washington, DC. Duke Ellington's alto sax player for 18 years.
http://www.centrohd.com/bio/bio21/otto.htm
http://www.musicweb.uk.net/RiseandFall/eight.htm
    1907 – Taxis first began running in NYC.
    1908 - Guitarist/composer/arranger/band leader Gene Gifford (d. 1970) was born in Americus, GA.   Perhaps best known for his arrangements for the Glenn Gray Casa Loma band which preceded the popularity of Benny Goodman, around 1935. He also had bands with very famous musicians, such as Bunny Berrigan, and was quite well known in music circles.
http://mp3.cnet.com/Gene-Gifford/artists/149294/biography.html
http://nfo.net/.WWW/g3.html
http://nfo.net/.CAL/tt1.html
http://user.tninet.se/~npt755v/bunny29.htm
http://music.barnesandnoble.com/search/product.asp?ean=78636661520
    1909 - Formed in March, the National Negro Committee, to become the National Association for the Advancement of Colored People, holds its first conference in New York City, NY.
http://www.naacp.org
    1912 - President William Howard Taft completes his Latin American-wide support of U.S. business interests, planning for the invasion in Cuba on June 5. The invasions are, in part, intended to buttress Taft's support about businessmen during an election year when Teddy Roosevelt is taking votes and support away as the Bull Moose candidate. Later in the convention, June 18-22 after Taft, through Elihu Root, seated his own delegates.  Roosevelt was left out, so on June 22, Roosevelt announced the formation of the Progressive Party. June 25-July 2 the Democrats nominated Woodrow Wilson, who would go on to win the general election in November.  Electoral votes: Wilson, 435; Roosevelt, 88; Taft 8. The popular vote: Wilson 6,293,454; Roosevelt, 4,119,538; incumbent Taft, 3,484,980; socialist Eugene V. Debs, 900,672; prohibition candidate Eugene W. Chafin, 206,275.
http://www.whitehouse.gov/history/presidents/wt27.html
By the way, Taft was the only president to also serve on the US Supreme Court:
http://encarta.msn.com/index/conciseindex/0D/
00DCF000.htm?z=1&pg=2&br=1
    1921 - The Greenwood Massacre, Tulsa, OK.  As one of the most successful and wealthiest black communities in the US during the early 20th Century, it was popularly known as America's "Black Wall Street" until the riot.  White residents massacred black residents and razed the neighborhood within hours. The riot was one of the most devastating massacres in the history of U.S. race relations, destroying the once thriving Greenwood community. The mobs attempted to lynch a Black teenager accused of trying to kiss a white girl and when they failed to get the teenager out of jail, they leveled the entire Black neighborhood of Tulsa. As many as 300 Blacks were killed and the remaining Black Tulsans are forced to move to a state-run internment camp.
http://rwor.org/a/v21/1040-049/1043/tulsa.htm
http://www.africana.com/DailyArticles/index_20010719.htm
    1922 - Vic Willis, 1/3 of the Willis Brothers country group, was born in Schulter, Oklahoma. The brothers backed Hank Williams on his first recordings and were associated with Eddy Arnold from 1949 to 1957. In the '60s, they had several hit singles, including one that made the top 10, "Give Me 40 Acres (To Turn This Rig Around)." The Willis Brothers were the first country act to play Constitution Hall in Washington, DC, primarily a venue for classical artists. Vic Willis died in a car crash in Hohenwald, Tennessee, on January 15th, 1995.
    1924 - Birthday of Patricia Harris (d. 1985), Matton, IL. The first African-American woman to serve in an ambassadorial post, the first African American to hold a cabinet position (Secretary of Housing and Urban Development), and the first woman to serve as dean of a law school, Howard University Law School.  In 1971, she became the first black woman appointed a director of a Fortune 500 company when she joined the board of IBM.
http://www.triadntr.net/~rdavis/harris.htm
    1925 – Ty Cobb hit his 275th triple, making him the first player ever with 1,000 extra-base hits. He finished his career with 1,136 extra-base hits, the all-time record until Babe Ruth passed him in 1931.  Henry Aaron holds the record with 1477 extra-base hits in his career.
    1927 - Birthday of sax player Red Holloway (d. 2012), Helena, AR.
http://www.52ndstreet.com/reviews/mainstream/holloway_sro.html
http://www.artistdirect.com/music/artist/card/0,,445018,00.html
    1929 - The first talking Mickey Mouse cartoon, "The Karnival Kid," was released.
    1930 - Birthday of actor/director/musician Clint Eastwood, San Francisco, Ca. He began his acting career at “Rawhide,” playing “Rowdy Yates.” My father, Lawrence Menkin, was the story editor, wrote many of the episodes, and kept giving Clint Eastwood larger roles, of which the main star was not in favor. My father said the ladies loved Eastwood and he had a way of stealing the scene, even without saying a wood. Spaghetti Westerns and Dirty Harry propelled him into the position of acting, directing, producing some excellent and memorable motion pictures. Along the way he built a country club-golf course and was mayor of Carmel, CA (1986-88) and has won numerous Academy Awards as actor and director.
http://www.clinteastwood.net/
    1935 - Birthday of drummer Albert Heath, Philadelphia, PA
http://ubl.artistdirect.com/music/artist/card/0,,442622,00.html
    1935 - Babe Ruth of the Boston Braves grounded out in his final major league at-bat against pitcher Jim Bivin of the Philadelphia Phillies.
    1937 - Birthday of drummer Louis Hayes, Detroit, MI
http://www.jazzcorner.com/hayes/
http://www.jazzcanadiana.on.ca/_HAYES.htm
    1937 - The Brooklyn Dodgers defeated pitcher Carl Hubbell and the New York Giants, 10-3, snapping Hubbell's winning streak at 24 games, a major-league record. Hubbell's previous defeat had occurred on July 13, 1936. He finished that year with 16 straight wins and won 8 more in 1937 before losing to the Dodgers.
    1938 - Peter Yarrow of Peter, Paul and Mary, the most popular of the early 1960's folk groups, was born in Manhattan. They were the first to bring commercial success to Bob Dylan, covering his "Blowin' in the Wind" and taking it to number two in 1963. Peter, Paul and Mary broke up in 1970, but reunited several times in the next two decades. Peter Yarrow served a three-month jail term in 1970 after pleading guilty to taking immoral liberties with a 14-year-old girl.  He was pardoned by President Jimmy Carter in 1981.
    1941 - Thunderstorms over Eastern Kansas deluged the town of Burlington with 12.59 inches of rain to establish a 24 hour rainfall record for the state.
    1941 - Birthday of singer Johnny Paycheck, born Donald Eugene Lytle (d. 2003), Greenfield, OH.  A country music singer, multi-instrumentalist and Grand Ole Opry member, he is most famous for recording the song "Take This job and Shove It."
http://www.bbc.co.uk/radio2/country/artistdb/paycheckjohnny.shtml
http://www.biography.com/cgi-bin/frameit.cgi?p=http%3A//www.biography.com/
magazine/biomag/paycheck.html
    1943 - Birthday of Pro Football Hall of Fame quarterback, former sportscaster, actor, Joseph William “Joe” Namath, born Beaver Falls, PA.  Namath is forever remembered for guaranteeing the Jets’ Super Bowl III victory over the heavily favored Baltimore Colts as 18 point underdogs. It was the first Super Bowl win for the American Football League and is recognized as an impetus for the eventual merger into the NFL in 1970.  Despite being elected into the Pro Football hall of Fame, Namath’s record, including postseason was 68-71-4. In his career he threw 173 touchdowns and 220 interceptions, and completed 1,886 passes for 27,663 yards.
http://ww1.sportsline.com/u/fans/celebrity/namath/index.html
    1945 - CRAFT, CLARENCE B., Medal of Honor
Rank and organization: Private, First Class, U.S. Army, Company G, 382d Infantry, 96th Infantry Division. Place and date: Hen Hill, Okinawa, Ryukyu Islands, 31 May 1945. Entered service at: Santa Ana, Calif. Birth: San Bernardino, Calif. G.O. No.: 97, 1 November 1945. Citation: He was a rifleman when his platoon spearheaded an attack on Hen Hill, the tactical position on which the entire Naha-Shuri-Yonaburu line of Japanese defense on Okinawa, Ryukyu Islands, was hinged. For 12 days our forces had been stalled, and repeated, heavy assaults by 1 battalion and then another had been thrown back by the enemy with serious casualties. With 5 comrades, Pfc. Craft was dispatched in advance of Company G to feel out the enemy resistance. The group had proceeded only a short distance up the slope when rifle and machinegun fire, coupled with a terrific barrage of grenades, wounded 3 and pinned down the others. Against odds that appeared suicidal, Pfc. Craft launched a remarkable 1-man attack. He stood up in full view of the enemy and began shooting with deadly marksmanship wherever he saw a hostile movement. He steadily advanced up the hill, killing Japanese soldiers with rapid fire, driving others to cover in their strongly disposed trenches, unhesitatingly facing alone the strength that had previously beaten back attacks in battalion strength. He reached the crest of the hill, where he stood silhouetted against the sky while quickly throwing grenades at extremely short range into the enemy positions. His extraordinary assault lifted the pressure from his company for the moment, allowing members of his platoon to comply with his motions to advance and pass him more grenades. With a chain of his comrades supplying him while he stood atop the hill, he furiously hurled a total of 2 cases of grenades into a main trench and other positions on the reverse slope of Hen Hill, meanwhile directing the aim of his fellow soldiers who threw grenades from the slope below him. He left his position, where grenades from both sides were passing over his head and bursting on either slope, to attack the main enemy trench as confusion and panic seized the defenders. Straddling the excavation, he pumped rifle fire into the Japanese at pointblank range, killing many and causing the others to flee down the trench. Pursuing them, he came upon a heavy machinegun which was still creating havoc in the American ranks. With rifle fire and a grenade he wiped out this position. By this time the Japanese were in complete rout and American forces were swarming over the hill. Pfc. Craft continued down the central trench to the mouth of a cave where many of the enemy had taken cover. A satchel charge was brought to him, and he tossed it into the cave. It failed to explode. With great daring, the intrepid fighter retrieved the charge from the cave, re-lighted the fuse and threw it back, sealing up the Japs in a tomb. In the local action, against tremendously superior forces heavily armed with rifles, machineguns, mortars, and grenades, Pfc. Craft killed at least 25 of the enemy; but his contribution to the campaign on Okinawa was of much more far-reaching consequence for Hen Hill was the key to the entire defense line, which rapidly crumbled after his utterly fearless and heroic attack.
    1945 - SMITH, FURMAN L., Medal of Honor
Rank and organization: Private, U.S. Army, 135th Infantry, 34th Infantry Division. Place and date: Near Lanuvio, Italy, 31 May 1944. Entered service at: Central, S.C. Birth: Six Miles, S.C. G.O. No.: 6, 24 January 1945. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. In its attack on a strong point, an infantry company was held up by intense enemy fire. The group to which Pvt. Smith belonged was far in the lead when attacked by a force of 80 Germans. The squad leader and 1 other man were seriously wounded and other members of the group withdrew to the company position, but Pvt. Smith refused to leave his wounded comrades. He placed them in the shelter of shell craters and then alone faced a strong enemy counterattack, temporarily checking it by his accurate rifle fire at close range, killing and wounding many of the foes. Against overwhelming odds, he stood his ground until shot down and killed, rifle in hand.
    1948 - John Bonham, drummer with Led Zeppelin, was born in Redditch, England. Led Zeppelin, formed by guitarist Jimmy Page after the demise of the Yardbirds, became the world's premier heavy-metal band in the 1970's. Zeppelin songs, such as "Whole Lotta Love" and "Stairway to Heaven," are still played heavily on radio. Keith Moon, drummer with the Who, is said to have been responsible for naming the band - he said they would go over like a lead balloon. Zeppelin's first album went top-ten in 1969, and their second topped the charts within two months of its release. After that, each of their albums sold a million copies. By 1975, their album and concert ticket sales had made Led Zeppelin the most popular rock band in the world. Their final album was in 1979. A year later, John Bonham died at Jimmy Page's home in Windsor, England.
    1951 - Top Hits
“On Top of Old Smokey” - The Weavers (vocal: Terry Gilkyson)
“Too Young” - Nat King Cole
“Mockingbird Hill” - Patti Page
“I Want to Be with You Always” - Lefty Frizzell
    1951 - HERNANDEZ, RODOLFO P., Medal of Honor
Rank and organization: Corporal, U.S. Army, Company G, 187th Airborne Regimental Combat Team. Place and date: Near Wontong-ni, Korea, 31 May 1951. Entered service at: Fowler, Calif. Born: 14 April 1931, Colton, Calif. G.O. No.: 40, 21 April 1962. Citation: Cpl. Hernandez, a member of Company G, distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action against the enemy. His platoon, in defensive positions on Hill 420, came under ruthless attack by a numerically superior and fanatical hostile force, accompanied by heavy artillery, mortar, and machine gun fire which inflicted numerous casualties on the platoon. His comrades were forced to withdraw due to lack of ammunition but Cpl. Hernandez, although wounded in an exchange of grenades, continued to deliver deadly fire into the ranks of the onrushing assailants until a ruptured cartridge rendered his rifle inoperative. Immediately leaving his position, Cpl. Hernandez rushed the enemy armed only with rifle and bayonet. Fearlessly engaging the foe, he killed 6 of the enemy before falling unconscious from grenade, bayonet, and bullet wounds but his heroic action momentarily halted the enemy advance and enabled his unit to counterattack and retake the lost ground. The indomitable fighting spirit, outstanding courage, and tenacious devotion to duty clearly demonstrated by Cpl. Hernandez reflect the highest credit upon himself, the infantry, and the U.S. Army.
    1956 - Buddy Holly sees the John Wayne movie “The Searchers” and gains some song writing inspiration when Wayne utters the line "that'll be the day."
    1957 - No. 1 Billboard Pop Hit: "Love Letters in the Sand," Pat Boone.
    1957 – “Do you believe in miracles?”  US Olympic goalie Jim Craig was born in N. Easton, MA.  Craig and his teammates scored everlasting fame by defeating the heavily-favored Russian hockey team in the 1980 Winter Olympics before going on to capture the gold medal by defeating the Finland in the final.  Craig is employed as a motivational speaker, spokesperson, marketing and sales strategist. Over the past 25 years, Jim has provided strategic direction for employees and associates from more than 300 organizations.
    1958 - Guitarist Dick Dale performed his new song, "Let's Go Trippin'," at Balboa, California's Rendezvous Ballroom, a moment generally considered the birth of the surf music genre.
    1959 - Top Hits
“Kansas City” - Wilbert Harrison
“Dream Lover” - Bobby Darin
“Personality” - Lloyd Price
“The Battle of New Orleans” - Johnny Horton
    1961 - A severe freeze caused heavy crop damage in New England. Burlington, Vermont reported a low reading of 25 degrees.
    1961 - Chuck Berry opened his Berry Park, an outdoor amusement complex in Wentzville, Missouri, near St. Louis. It included a miniature golf course, rides and a children's zoo.
    1961 – Otherwise completely unknown in the annals of Major League Baseball, the Boston Red Sox’s Carroll Hardy pinch-hit for Carl Yastrzemski, and bunted for a base hit.  Hardy is the only person to have pinch-hit for Yaz and Ted Williams.
    1962 - "Tell It to Groucho", TV Game Show; last aired on CBS.
    1964 - The New York Mets and the San Francisco Giants played the longest doubleheader by time in major league history, the two games consuming nine hours, 52 minutes. The Giants won the first game in ordinary fashion, Juan Marichal beating the Mets, 5-3, in nine innings. But the second game went 23 innings and lasted 7:23 ( a National League record) before the Giants emerged victorious, 8-6, on run-scoring hits by Del Crandall and Felipe Alou, 57,037 fans were on hand when the day began.
    1965 - The Dave Clark Five make their first appearance on CBS-TV's Ed Sullivan Show, performing "Glad All Over." Ed likes the clean-cut boys so much he has them on 18 more times over the course of the show's life, more than any other rock band.
    1967 - Top Hits
“Groovin'” - The Young Rascals
“Respect” - Aretha Franklin
“I Got Rhythm” - The Happenings
“Sam's Place” - Buck Owens
    1969 - Stevie Wonder's "My Cherie Amour" was released by Tamla Records. The song made it to number four on the pop music charts on July 26 and stayed on the nation's radios for eleven weeks. Trivia: "My Cherie Amour" was not the original title of the song. Wonder had named the song, "Oh My Marcia", for a former girlfriend. Of course, singing it back with the original tune, one could see that "Oh My Marcia" doesn't quite fit as well as "My Cherie Amour".
    1971 - In accordance with the Uniform Monday Holiday Act passed by Congress in 1968, observation of Memorial Day occurred on the last Monday in May for the first time, rather than on the traditional May 30. 
    1972 - No. 1 Billboard Pop Hit: "I'll Take You There," The Staple Singers.
    1974 - William DeVaughn, a soul singer, songwriter and guitarist from Washington, DC, received a gold record for his only hit, "Be Thankful for What You Got". The tune made it to number four on the pop music charts (6/29/74). Ever hear the phrase, “Don't give up the day job?” This was quite applicable to DeVaughn, who was never heard musically again. His day job was working for the federal government.
    1975 - Top Hits
“Before the Next Teardrop Falls” - Freddy Fender
“How Long” - Ace
“Sister Golden Hair” - America
“Thank God I'm a Country Boy” - John Denver
    1977 – The Trans-Alaska pipeline was completed.
    1979 - Supertramp perform at New York's Madison Square Garden, where they receive a Gold record for their million selling album "Breakfast In America".
    1980 - Although the Disco craze was running out of steam, a group from Minneapolis, Minnesota called Lipps, Inc., that featured Cynthia Johnson on vocals, reached the top of the US charts with a tune called "Funkytown".
    1983 - Albany, New York experienced its wettest spring (March-May) in 109 years of records. 19.54 inches of precipitation was recorded.
    1983 – American League president Lee MacPhail suspended Yankees owner George Steinbrenner for one week, citing "repeated problems" with the outspoken owner's public criticism of umpires. Steinbrenner, who was fined $50,000 by Commissioner Kuhn during spring training for berating some NL umps, cannot attend games or be in his Yankee Stadium office during the suspension.
    1983 - Top Hits
“Flashdance...What a Feeling” - Irene Cara
“Overkill” - Men At Work
“Time (Clock of the Heart)” - Culture Club
“You Take Me for Granted” - Merle Haggard
    1985 - New Orleans Saints are sold for $70,204,000
    1985 - A vicious tornado outbreak struck southern Ontario, Central and Eastern Ohio, Western and Central Pennsylvania, and Western New York. 42 tornadoes ripped through the area. 88 people were killed and total damage was over $200 million. 8 of the tornadoes were rated F4 on the Fujita scale. The tornado that devastated Niles, Ohio was classified as F5 (Winds above 260 Mph). A huge f4 tornado had a 69-mile path length in central Pennsylvania, mostly through Moshannon State Forest. An estimated 88,000 trees were destroyed as the tornado's path width reached 2.2 miles at one point.
    1986 - The Weather Service Office in Washington, DC reported its driest spring on record with only 3.47 inches of precipitation from March 1st to May 31st.
    1987 - No. 1 Billboard Pop Hit: "You Keep Me Hangin' On," Kim Wilde.
    1990 - "Seinfield" premiered on television in 1990 and ended with the 1997-1998 season. While acclaimed the show was about "nothing," it really centered around the lives and exploits of its four main characters whose storyline intertwined for some very surprising plot twists over simple matters such as valet parking, annoying dogs, trip to India, where the show's sequence runs backwards ("The Betrayal"), yadda yadda yadda, and waiting for Chinese food or buying soup. Comedian Jerry Seinfield used his stand-up routines as an introduction to the show. In the earlier days, the routines were longer and it took some time for the show to “catch on.” The cast featured Seinfeld as himself; July Louis-Dreyfus as he ex-girlfriend, Elaine Benese; Jason Alexander as his best friend, George Costanaza, who worked for George Steinbrenner, owner of the New York Yankees; Wayne Knight as Newman, a fat neighbor, mailman, who always caused problems; and Michael Richards as his neighbor, Cosmo Kramer, who came in and out of rooms very fast. Most of this was based on Seinfield's real friends (there was a Cosmo Kramer). The last episode was on May 14, 1998 with the four main characters in jail after several episodes of their trail with testimony from many of the characters in earlier episodes.
http://www.cgocable.net/~dchristi/
http://www.famousfotos.com/seinfield.html
http://www.geocities.com/TelevisionCity/3583/
http://www.surveyitup.com/survey/poll_vote.asp?pollid=145
    1991 - Top Hits
“I Don't Wanna Cry” - Mariah Carey
“More Than Words” - Extreme
“I Wanna Sex You Up” - Color Me Badd
“In a Different Light” - Doug Stone
    1991 - Norfolk, Virginia hit 100 degrees. This set a new all-time record high for the month of May.
    1997 - Ila Borders is unique among women. She is also unique in baseball. Her jersey hangs in the Baseball Hall of Fame in Cooperstown, New York. honoring her as the first woman to play men's pro baseball; the only woman on the roster of a male professional baseball team.  In 1993, she became the first woman to be awarded a college baseball scholarship at the southern California College of Costa Mesa.  She debuted in a minor league team May 31, 1997
    1999 - "Star Wars: Episode I: The Phantom Menace" in its 13th day of release grossed past the $200 million mark in a record pace.
    1996 - The College Football Association (CFA), an organization and lobbying group that broke the NCAA's power to negotiate college football television contracts on an exclusive basis, voted itself out of existence. The CFA began in 1977 and ceased to exist on June 30, 1997.
    2000 - “Survivor” premiered on TV. On this strangely immensely popular “reality TV” show, 16 people were sequestered on a deserted island in Malaysia for 39 days. They competed for the right to remain on the island, with the final survivor wining $1,000,000. Hosted by Jeff Probst, the show drew a total audience of 51 million people. On January 28, 2001, another group of “Survivor” contestants began their stay in the Australian outback.
    2001 - The Red Sox finally beat the Yankees in their eighth attempt, and for the first time in over a year since Pedro Martinez scoffed at the 'Curse.' The right-hander was 7-1 with a 1.44 ERA when he said, "Wake up the Bambino and let me face him -- I'll drill him in the %#$."  After the comment, he managed only seven more winless starts, making it first time he did not win in seven straight starts since the first seven major league appearances as a rookie with the Dodgers.
    2001 - After 25 years in the organization, manager Felipe Alou, 66, is fired by the Expos, and replaced by Jeff Torborg, an old friend of owner Jeffrey Loria. The former Montreal skipper is the winningest manager in franchise history compiling a 691-717 record during his nine-year tenure. In November, 2002, he was named manager of the San Francisco Giants.
http://www.baseballlibrary.com/baseballlibrary/ballplayers/A/
Alou_Felipe.stm
http://espn.go.com/mlb/news/2002/1113/1460334.html
    2005 - Strawberry Field (no s), the Liverpool orphanage which inspired the Beatles' famous song, is closed by the Salvation Army after almost seventy years.
    2005 - Watergate figure ‘Deep Throat’ was revealed to be W. Mark Felt, a former F.B.I agent.  Felt was the secret informant who provided information to Washington Post writers Bob Woodward and Carl Bernstein in 1972 about the involvement of President Richard Nixon's administration in Watergate.  For more than 30 years, the identity of Deep Throat was one of the biggest mysteries of American politics and journalism and the source of much public curiosity and speculation. Woodward and Bernstein insisted they would not reveal his identity until he died or consented to have his identity revealed.  “Vanity fair” magazine revealed that Felt was Deep Throat, when it published an article (eventually appearing in the July issue) on its website by John D. O'Connor, an attorney acting on Felt's behalf, in which Felt reportedly said, "I'm the guy they used to call Deep Throat."  Despite several contradictions from several sources, Woodward and Bernstein put an end to the speculation when they confirmed Felt’s revelation.
    2011 - After scientists reviewed studies on cell phone safety, the World Health Organization classified cell phone radiation as a carcinogenic hazard, possibly carcinogenic to humans.
    2015 – Parts of the Patriot Act, passed as a response to the 9/11 attacks, including authorization of bulk phone data collection by the National Security Administration, expired due to lack of agreement in the Senate regarding extension

NBA Champions:
    1983 - Philadelphia 76ers
Stanley Cup Champions:
    1987 - Edmonton Oilers.