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kitmenkin@leasingnews.org
   



National Sales Representative
Direct, vendor based, small ticket ($10K-150K) leasing company looking for experienced sales representatives.
If you need more support, flexibility and a
stronger source of funds call Falcon.
Want to learn more - click here

www.falconleasing.com



Wednesday, November 2, 2011



Today's Equipment Leasing Headlines

LEAF Commercial Takes Over
 by Kit Menkin
  Classified Ads---Credit Manager
   Continuing Good News about the Credit Business
    First American Equipment Finance Goes Against the Trend
   Classified Ads---Help Wanted
  Sales makes it Happen---by Mr. Terry Winders, CLP
   "59 Days Left"
     The Problem with Accepting Late Payments
     by Tom McCurrin
  CLP November Spotlight---Jack Marsh, CLP
   Global Leasing Resource Now Over 500 Lessors in its Database
    Smilies
     Banking Revenues after the $5 Debit-Card Controversy
      Business Networks Champion Tax Reform!!!
       Fairport, New York Adopt-a-Dog
News Briefs---
Overstock and Covenant Problem with US Bank Sale/Leaseback
  Wells Fargo CEO predicts slow housing recovery
    Federal Reserve wraps up policy meeting

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

  California Nuts--
   Gimmie that wine---
     This Day in American History
      SuDoku
       Daily Puzzle
        GasBuddy
         Weather, USA or specific area
          Traffic Live----

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



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

LEAF Commercial Takes Over
by Kit Menkin



As in the announcement of Crit DeMent as Chairman of the Equipment Leasing and Finance Association as CEO of LEAF Commercial, and no mention of LEAF Financial in the press release, it appears LEAF Commercial is the succeeding company as the announcement of securitizations of "approximately $105 million of leases, term funded by the issuance of Contract Backed Notes. The transaction is the first securitization of small ticket equipment loans and leases sponsored by LEAF Commercial Capital, Inc. The loans and leases were originated by LEAF and are backed by various equipment including office equipment such as copiers, as well as, technology, telecommunications and industrial equipment. Guggenheim Securities, LLC, was the arranger of the notes and LEAF will continue to be the servicer of the assets."

It should be noted the on going copier division in Moberly, Missouri based LEAF Dealer Solutions unit, during the third fiscal quarter ended June 30, 2011, added 104 new dealers as active users, according to the June 30, 2011 Resource America, Inc. filings.

Reportedly Chris Casey, long time vice-president of operations, is no longer with the company.

LEAF Financial remains on the list of companies who have had complaints and appear not to notify all lessees regarding the termination of their lease or equipment finance agreements.

Guggenheim Partners is a privately held global financial services, so no numbers are available; however, the Resource America, Inc., September, 2011 Calendar year-end should have numbers regarding both LEAF Commercial and LEAF Financial. Don't expect this until December because Resource Amercia year -end 2010 was filed December 13, 2010, so numbers will not be available most likely until the middle of December.



[headlines]
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Classified Ads--- Credit Manager

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



Credit and Collections Manager
Seasoned Small ticket Credit Manager with remote office based out of Chicago, IL willing to relocate seeks challenging high volume challenging position. Wgriffith61@yahoo.com | Resume


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

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

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


Continuing Good News about Credit Business


As both the Equipment Leasing and Finance Association MLFI-25 and Equipment Leasing and Finance Foundation Confidence Report showed September business increases as well as confidence continuing, the October National Association of Credit Management Index saw a rise, although slight, from 52.7 to 53.7 on their index.

The report stated, "The majority of economic indicators has been reasonably positive over the past few weeks and seems to be pointing to better months to come and the CMI index did not dispel this assumption, although the slower pace of progress reminds those paying attention that this is unlikely to be a rapid recovery for any but a handful of sectors.

“Most of the decline took place in the favorable factors suggesting that growth is not yet ready to surge, but the fact remains that adjustments were relatively minor and remain above the trend from earlier this summer,” said Chris Kuehl, PhD, economist for the National Association of Credit Management (NACM).

"Most of the positive news stemmed from the changes in unfavorable factors. These upward shifts suggest that companies are having more success getting finances in order than was the case earlier in the year. The gains in the index are starting to point to a general recovery.

"Overall, unfavorable factors showed improvement. There were fewer accounts placed for collection, fewer disputes and fewer dollars beyond terms. There were also fewer bankruptcies.

"It has been observed that the manufacturing sector is still working itself out. Those companies operating in fast-growing sectors like energy and health care are doing very well and expanding. The auto sector is undergoing a recovery as well. In contrast, there are the companies connected to the construction sector, a still highly stressed part of the economy no matter what category one examines. Residential housing is not performing well at all, but neither is commercial construction. Even the public sector activity has been in decline as the arguments over what to do with infrastructure projects continue.

NACM, headquartered in Columbia, Maryland, supports more than 15,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of affiliated associations are the leading resource for credit and financial management information, education, products and services designed to improve the management of business credit and accounts receivable. NACM’s collective voice has influenced federal legislative policy results concerning commercial business and trade credit to our nation’s policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy. Its annual Credit Congress is the largest gathering of credit professionals in the world.

October NACM Full Report:
http://leasingnews.org/PDF/October11_NACM.pdf

Comprehensive personal property tax outsourcing services
We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do. 

Click here to learn what our clients say about our service
Gary DiLillo, President 216-658-5618 or gary@avptc.com



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

First American Equipment Finance Goes Against the Trend


William “Bill” Verhelle, CEO, First American Equipment Finance, past president of the Equipment Leasing and Finance Association, goes against the trend to build his company's business. He has been consolidating his offices to his Fairport, New York office, and in addition, a plan to add more employees with his company’s approach that has been bringing them success.


William “Bill” Verhelle, CEO

"It is a model centralized effort," he told Leasing News. "We have direct access to a virtual marketplace with Cisco's Digital Signage system in all our offices, as well as Cisco's Show and Share video training system (to complement and expand the capabilities of our existing Tandberg HD videoconferencing systems)

"In the past, most have followed branch banking, opening an office, expensing representatives to expand business to the office. This then moved to representatives working out of their homes, as if it were a branch office.

“We have taken a different approach, selecting who we want to do business with, profiling, specifically working with them, using state-of-the-art equipment and software, thus lowering our costs and passing this on to our customers. This creates more business for us, increasing not only our performance, but our portfolio quality."

First American Equipment Finance has completed its move to a 33,000 square foot facility, which Verhelle calls a "state-of-the-art" office. He is expected to hire at least twenty more employees to fulfill the company’s goal.

Leasing Industry Help Wanted

Midwest Sales Representative
(as far east as Michigan, as far west as Colorado, as far
south as Texas, and as far north as Minnesota)

Construction, Trucking, Machine Tools, Waste Equipment
Credit application only up to $250K, vendor driven, fast approvals
contact: Chris Chiappetta at chris@netlease.com 

In the last 25 years National Machine Tool Financial has evolved into the premier outsource captive finance company for many major manufacturers.
www.netlease.com

National Sales Representative
Direct, vendor based, small ticket ($10K-150K) leasing company looking for experienced sales representatives.
If you need more support, flexibility and a
stronger source of funds call Falcon.
Want to learn more - click here

www.falconleasing.com


For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees.

[headlines]
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Sales makes it Happen---by Mr. Terry Winders, CLP




59 Days Left

The end of 2011 is 59 days from now, a great opportunity to sell more “capital leases.” This means with a $1.00 out or nominal purchase option where the transaction allows the lessee to receive the depreciation.

Meaning you take one month as a deposit, start the lease this year, with the next payment whatever program you have to start---a month, two months, three months, or even bi-annual payments, if you have such a program. The debtor is entitled to deduct all the depreciation in the transaction (not exceeding the dollar amount available) for this year.

Most likely your leasing prospect has not utilized all the depreciation he can take this year. If they have, they then can start a depreciation schedule for the last six months of the year.

First, the equipment has to be in place and accepted in 2010.

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if the customer buys (or leases with a bargain purchase option) a piece of qualifying equipment, they can deduct the full purchase price from their gross income. It's an incentive created by the U.S. Government to encourage businesses to buy equipment and invest in themselves.

When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, the company spends $50,000 on a machine, it gets to write off (if it is a five year asset under MACRS) a percentage of the cost each year. Now, while it's true that this is better than no write off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.

In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting. That's the whole purpose behind Section 179… to motivate the American economy (and business) to move in a positive direction. For most small businesses (adding total equipment, software, and vehicles totaling less than $500,000 in 2011), the entire cost can be written-off on the 2011 tax return. For large businesses adding even more than $500,000, the write-offs are just as substantial.

All businesses that purchase, finance, and/or lease less than $2 million in new or used business equipment during tax year 2011 should qualify for the Section 179 Deduction. If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. Most tangible goods including “off the shelf” software as well as business use vehicles (restrictions apply) qualify for the Section 179 Deduction.

The deduction begins to phase out if more than $2 million of equipment is purchased - in fact, the deduction decreases on a dollar for dollar scale after that, making Section 179 a deduction specifically for small and medium-sized businesses. However, as noted above, large businesses can expense all qualifying capital expenditures with 100% Bonus Depreciation for the 2011 tax year.

The most important difference between bonus depreciation and section 179 is both new and used equipment qualifies for Section 179 Deduction (as long as the used equipment is "new to you"), while Bonus Depreciation covers new equipment only. Bonus Depreciation is useful to very large businesses spending more than $2 million on new capital equipment in 2011; also businesses with a net loss in 2011 qualify to deduct the cost of new equipment.

When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation - unless the business has no taxable profit in 2011 (the unprofitable business is allowed to carry the loss forward to future years).

The equipment, vehicle(s), and/or software must be used for business purposes more than 50% of the time to qualify for the Section 179 Deduction. Simply multiply the cost of the equipment, vehicle(s), and/or software by the percentage of business-use to arrive at the dollar amount eligible for Section 179.

Vehicles used in business qualify - but certain passenger vehicles have a total depreciation deduction limitation of $11,060, while other vehicles that by their nature are not likely to be used more than a minimal amount for personal purposes qualify for full Section 179 deduction.

Whether Congress adopts this for 2012 is not known at this time, so this may be the last year to take advantage of this "tax incentive."

Sales Makes It Happen Previous Columns:
http://www.leasingnews.org/Legacy/index.html

Mr. Terry Winders, CLP
Anaheim, California

December 12-14th
Two and One Half-Day Seminar

The seminar will contain information on how to approach leasing in 2012 with the following subjects:

  • New lease language
  • Proposed new accounting rules for lessee's
  • Structuring and pricing for competition
  • Income tax rules, Article 2A vs. Article 9
  • New reasons to lease
  • Questions to ask lessee
  • Vendor needs
  • Credit enhancements
  • Documentation issues

and a take home assignment to see how to propose a lease.

Cost $450 per person

sponsored by
Commerce National Bank
4040 MacArthur Blvd. Suite 100 
Newport Beach CA 92660
(Orange County Airport is a half-mile away)

To request a complete outline contact: leaseconsulting@msn.comor for questions call 502-649-0448


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

The Problem with Accepting Late Payments
by Tom McCurrin


A recent New York case, involving Twin Cities Financial underscores the problem with accepting late payments, after a Notice of Default has been issued and served.

In the case of TCF Equipment Finance, Inc. v. New Door of New York Corp., Slip Copy, 2011 WL 5041795 (N.Y.Sup. 2011), the Kings County Supreme Court was faced with a lease of woodworking equipment. The Debtor failed to pay and TCF issued, and the Debtor received, a Notice of Default for non-payment. However, after the Notice of Default, the Debtor made two payments aggregating about $18,000. TCF cheerfully cashed the check. However, unsatisfied with the response of the Debtor, TCF instituted a replevin action against the debtor for the equipment. The Debtor, of course, submitted affidavits as to conversations with the collections department as to waving the default, the content of which was denied by TCF.

The Court had no problem concluding that the lessor waived the default by accepting the late payments and denied the replevin.

Since TCF was located in the State of Minnesota, that law applied, and the Court construed the Minnesota case of Cobb v. Midwest Recovery Bureau Co., 295 N.W.2d 232 Minn. 1980). That case stands for the proposition that a creditor which routinely accepts late payments waives the default, thus requiring the creditor to send a new Notice of Default which explicitly states that despite the receipt of late payments, a default still exists.

This principal that a creditor risks waiving its default by accepting payments after a Notice of Default is well established, but not without controversy. In many states obtaining a waiver of default based on receipt of late payments is a tough row to hoe. See Speigle v. Chrysler Credit Corp., 56 Ala.App. 469, 323 So.2d 360 (Ala. 1975); Harty v. Underhill, 710 S.E.2d 327 (N.C.App. 2011).

Despite the dueling authority, any leasing company which accepts payments after a default has been declared risks waiving that default unless a new Notice of Default is issued.

Leasing attorneys drafting documents should include provisions which allow receipt of late payments without waiving a default. A good example of that kind of clause is contained in Ford Motor Credit Co. v. Ryan, 189 Ohio App.3d 560, 939 N.E.2d 891 (Ohio App. 2010).

For leasing professionals, the simple lesson of the TCF case is that the collections departments should not refer a case to litigation if the lessor has accepted payments after a Notice of Default was issued. The remedy is simply to issue another Notice of Default to the Debtor before sending the matter out for litigation. This simple step of getting one’s ducks in a row can save months of precious time and significant attorney fees.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Fax: (213) 625-1832
Email: tmccurnin@bkolaw.com

Visit our Web Site at:  www.bkolaw.com

TCF Equipment Finance Case-Westlaw (7 pages):
http://leasingnews.org/PDF/TCFCase.pdf


 

[headlines]
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CLP November Spotlight---Jack Marsh, CLP


Certified Leasing Professional Foundation Spotlights


Zach Marsh, CLP
Chief Financial Officer
Orion First Financial, LLC

What is your favorite thing about the equipment finance industry?

I like that it is large enough that some of the biggest banks and corporations play a role in the industry, yet even the smallest of companies and individuals can carve out a niche. I also like that a big part of our industry serves the small business person. For every Microsoft, GE and Wal-Mart, there are thousands of small businesses that employ the general populous and truly are the backbone of our nation. Our industry helps many of those businesses to not only survive but also to thrive.

Give a short description of your background in the industry.

I am still relatively young in the industry at ten years but have been on the ground floor of a growing company for most of my tenure. I went to college and studied business and computer science and after a six month sabbatical from school and work (why not?), I found that the computer part of my degree had already begun to age. After discouraging interviews with Microsoft, Real Networks and Amazon, I decided to take a job with a local leasing company to help write reports and ended up performing various admin, IT, accounting and finance job functions within my first two years.

I had the opportunity to work directly with the CEO and made enough of an impression that when he left the company to start Orion First Financial he chose me as one of his initial handful of employees. I have been with Orion ever since and continue help our team build a dynamic servicing organization.

What are the biggest challenges in your day?

I think the economic downturn has to be the biggest challenge of my day thus far. In the past five years all types of money has entered and exited the industry as well as some of the most profitable companies have had to close their doors. As if dealing with the stresses of survival during the rapid downturn while further watching your peers disappear into unemployment and failure wasn’t enough, we now have to figure out how best to seize the opportunities that exist for those fortunate enough to have survived.

What is the last book you read?

I actually don’t read books all that often. Instead I have become a content reader. I have two main methods of receiving that content: email and social media. I receive industry topics and LinkedIn discussions to my email and I have subscribed or “liked” several content providers from my Twitter and Facebook accounts. With all of those content feeds easily viewed from my Smartphone and PC I can scan the content whenever is convenient and if something sounds interesting I follow the links to the actual article or website.

Would you like to share an interesting hobby or accomplishment?

I have always been a competitive person and part of how I cultivate that I continue to play a lot of softball. But keep in mind it is not the co-rec, Sunday afternoon, beer league type softball. I play the once or twice a week league and several weekends a year tournament brand. To do so requires maintaining a delicate balance of being a good husband, father and working professional. However I have always believed that competition is a good thing – it is what drives our free market system as the fuel of the entrepreneurial spirit and a driving force behind some of our great leaders and innovators. Perhaps I have too much competitive spirit since wanting to be the best I can be with my family and professional life is not enough to satisfy me, but I will continue to play so long as my body lets me.

Biography from Orion First Financial:
“Mr. Marsh is the Vice President, Chief Financial Officer with Orion First Financial, LLC. He joined Orion in November, 2001 and currently directs accounting, tax and information technology functions for the company. Mr. Marsh has over ten years of experience in commercial equipment leasing, including experience with operations, portfolio management and credit/syndications functions. Mr. Marsh is responsible for audit compliance including Orion’s financial, tax and SAS 70 audits. He facilitates the acquisition of portfolio servicing contracts for Orion, including valuation, documentation and closing negotiations as well as oversight of funding and the initial portfolio transition process. He also manages Orion’s banking relationships and works with Orion’s legal council to prepare new client agreements and related documentation requirements. Prior to joining Orion, Mr. Marsh was a financial analyst with Financial Pacific Leasing, where he designed and maintained management level reports.

“Zack has been involved with the UAEL and ELFA. He is a Certified Leasing Professional and has a BA from Washington State University where he focused his studies in business and information technology.

“Zack lives with his wife and two daughters in Puyallup, WA. Zack enjoys softball and camping with his family.”

http://www.orionfirst.com/index.php/ABOUTUS/OurTeam/

 

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

Global Leasing Resource Now Over 500 Lessors in its Database



Global Leasing Resource (GLR), launched earlier this year, now has over 500 leasing companies in its comprehensive database. Each listing is substantive, providing users with company profile, key contacts, condensed financial information and details regarding products and services offered. The listings are from 67 leasing economies throughout the world-from Australia to Zambia, and every meaningful country in between.

The objective of GLR’s global database is to facilitate meaningful business to business interaction between the varied stakeholders in the leasing industry – brokers, vendors, lessees and; most importantly, lessors themselves seeking to do business with other lessors.

Leasing companies, throughout the world, are invited to submit their free listing by visiting www.globalleasingresource.com.

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

John Kenny Receivables Management
www.jrkrmdirect.com

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

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

 

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

[headlines]
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Smilies


In the "old days," and I am not talking about George M. Cohan days, but twenty ears ago, AOL, CompuServe, and Prodigy were the only private networks. Connections were 2400 baud. I remember when I used to connect on AOL at 9600 baud and thought that was "fast." Wow!!!

To save time, just like they do in ham radio or even police calls with codes, e-mai users came up with their own codes. They are still used today, especially on hand held digital devices.

They are intended to be read sideways.

Smilie/CodeUsage
Basic Smilies
:-)Standard Smiley. Just joking, implies humour.
;-)Winking Smiley. Used when you make a sarcastic remark.
,-)Wink
:-(Sad Smiley. Used when you didn't like something, or to imply sadness.
Popular Smilies
:-!Foot in mouth.
:-#Wears braces/been hit in the mouth. or Censored
:-$Put your money where your mouth is.
:-&Tongue tied.
:-/Skeptical.
:-OYelling / Wow!
:_)Tongue in cheek.
=-)Sideways smily face.
$-)Just won the lottery
>;->Winky and devil combined. A vary lewd remark just made.
:-->User just made a very devilish remark.
:-,Smirk
:-IIAnger
:->Just made a really biting sarcastic remark.
Smilies with Emotion
:-<Very sad.
:-DLaughing / Sad with a smile.
:-@Screaming / I swear.
:-|Hmmm.... Don't know what to think.
:-PSticking your tongue out / Tungue hanging out in anticipation.
:-XMy lips are sealed / A big wet kiss.
:-eDisappointed.
;-)Say no more (nudge nudge, wink wink).
:-xKiss, Kiss.
:-*Oops.
:-cReal unhappy
:-<Forlorn
:-|Dead face
:-IIndifferent, better than a Frowning but, not quite as good as happy Smiley / Grim.
:-<>Amazed
:-( )Shocked
:-o zz z z Z ZBored
:-\Thinking
:-CUnbelieving (jaw dropped) /Really bummed out.
:-o"Oh, nooooooo!"
:-TKeeping a straight face
:-BDrooling
:-)))Very emotive (suggested by Kay, Trieste, Italy)
Miscellaneous Smilies
(o:o)Siamese Twins
*<|:O)A Clown
|-|Asleep.
|-)Falling asleep.
|-OBored.
.-)One eyed.
:,(Crying.
:'-(Crying
|^oSnoring.
(-:Left handed.
8-)Wearing sun glasses.
B-)Wearing horn rimmed glasses.
@@@:-)Marge Simpson.
:----->Pinnochio or Liar
:)Smilie without a nose
:@)Smilie with a piggy nose
:^)Smilie with a bent nose
:*)Smilie with a nose of a clown
:~)Smilie with a strange nose
:-[]Robot face
:-}Smilie with a curly smile
:->Smilie with straight smile Ver. 1
:-]Smilie with straight smile Ver. 2
:-[Count Dracula
:-#Censored / My lips are sealed.
:-iSmoking
:-jSmoking and smiling
:-[#]Smilie with braces
:-SSick smilie
P-)Pirate
!-(Black-eyed face
0-)Cyclops smilie
%-)Surfing to long
%)Artistic face
:=IBaboon.
:-7User made a wry statement
[:]User is a robot
:-"Pursing lips
|-(Late night messages

Turned Faces

:^UTurned face
:^YTurned poker face
:^rBleahhh (sticking tongue out)
:^yTurned smiling face
:^WTurned face with tongue out / Speaking with forked tongue.
:-VShout
:-vSpeaking
:^"Pursing lips

Smilies with Accessories

:-{)Smilie with a moutashe
{:-)Smilie with hair
@@:)Smilie with bee-hive hair
:)Smilie with permed hair
[:-)Wearing a walkman
K:-)Smilie with a graduation hat
d:-)Smilie with a cap
C|:-)Smilie with a bowler hat
]:-)Smilie with a nurse hat
(:-)Smilie with a skull-cap (or a bicycle helmet)
#:-)Smilie with a fur hat
*<:-)Smilie with hat and pom-pom (cold weather smilie)
:-)=Smilie with beard
=|:-)=Uncle Sam
&:-)Smilie with curly hair
@:-)Smilie with wavy hair
B:-)Sunglasses on head
::)Wears glasses
8-)Wearing glasses
+<:-|Monk / Nun
Abbreviations
IMHOIn my humble opinion.
LOLLaughing out loud.
OTFLOn the floor (laughing).
ROTFLRolling on the floor (laughing).
BRBBe right back.
BTWBy the Way.
CYASee you.
CYL8TERSee you later.
FYIFor Your information.
NE1Anyone.


((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)



#### Press Release #############################


Banking Revenues after the $5 Debit-Card Controversy


Banks could have circumvent the $5 debit-card fee controversy simply by adjusting their deposit rates by 0.01% generating nearly twice as much in interest-expense savings as the new fees on debit cards.

SAN ANSELMO, Calif. The latest analysis from Market Rates Insight (www.marketratesinsight.com) shows that banks could have generate nearly double the potentially $875 million in monthly debit card fees just by lowering their deposit rates by as little as 0.01% (one hundredth of one percent) a month. The $875 million is the total potential for debit-card fees if each of the 175 million US adults with bank account will pay $5 per month. A decrease of 0.01% in the national average deposit interest rate reduces interest expense for banks by about $1.5 billion a month, which impacts the bottom line in the same way as earning this amount through fees.

In 2010, interest expense on deposits at FDIC insured banks was $107 billion, or an average of $9.2 billion per month compared with an average monthly interest expense of $7.7 billion as of June of this year – a decrease of $1.5 billion a month in average interest expense. The national average interest rate for deposits was 0.80% at the end of 2010, and 0.74% in June of this year – a decrease of 0.06% in six month or an average decrease of 0.01% per month. Thurs, maintaining the “normal” decrease of 0.01% per month reduces interest expense nationally by $1.5 billion per month, which is nearly twice as much as the total potential income from the $5 debit-card fee if every bank-account holder had to pay it.

Refining deposit rates to the tune of 0.01% without adversely impacting deposit balances is possible by applying higher level of pricing precision and analytics. Banks typically overpay, relative to the competition, when matching interest rate on a basic CD (average of 0.60%) to the competition not realizing that the competing CD has a requirement, such as new-money (average 0.85%), which pays a premium of 0.15%. As a result, the basic CD is overpriced by 0.15% increasing the interest expense of the bank needlessly

“By increasing the level of pricing precision and analytics,, banks can maintain a healthy net interest margin and protect their bottom line in the next two to three years until the economy recovers,” said Dan Geller, Ph.D. Executive Vice President at Market Rates Insight, “better yet, this objective can be achieved with minimal effort and, most importantly, without alienating customers.”

About Market Rates Insight

Market Rates Insight (MRI, www.marketratesinsight.com) is a reputable provider of competitive-pricing information and analysis to financial institutions. MRI’s competitive data is complete, detailed and timely, which allows for the highest level of pricing precision. Therefore, the use of MRI’s competitive data ensures greater pricing optimization, and subsequently, improved profitability. In addition to competitive-pricing data, MRI also conducts pricing analysis and provides tracking of industry indexes. MRI’s indexes, published weekly in the National Pricing Indicators, are the industry standard for deposit pricing, and are viewed weekly by executives of banks and credit unions through video, audio and print channels.

Dan Geller Ph.D.
Executive Vice President
Market Rates Insight, Inc.
415-448-8813 (phone) | 415-259-0701 (fax)
Dan.Geller@MarketRatesInsight.com
www.marketratesinsight.com

#### Press Release #############################


Business networks champion tax reforms that raise revenues to invest in America’s future, counter push from corporate lobbyists for more tax breaks



Washington, DC – Three business networks – Business for Shared Prosperity, the Main Street Alliance and the American Sustainable Business Council – submitted a joint letter to the Congressional Supercommittee on the deficit. The letter urges Supercommittee members to support tax reforms that raise revenues to restore America’s economic vitality, countering an all-out push from big business lobbyists for even more corporate tax breaks as the Supercommittee’s November 23 deadline looms.

“If I were a businessman competing with America, I’d be applauding more tax cuts for U.S. megacorporations and millionaires,” said Lew Prince, managing partner of Vintage Vinyl, an independent music store in St. Louis, MO with 22 employees, and Business for Shared Prosperity member. “Instead of investing in the 21st century education, research and infrastructure we need to create jobs today and succeed in the future, we’re laying off teachers and letting our middle class crumble along with our bridges. The last thing we need is more cutbacks to pay for more tax cuts at the top.”

The corporate tax code should ensure that all companies – large and small – pay a realistic and fair share toward the cost of public infrastructure and government services that underpin our economy.

The tax code should promote a level playing field between large multinational corporations and smaller, domestic businesses. We need to close loopholes that allow large multinational corporations to avoid their tax obligations by shifting U.S. profits offshore, rather than rewarding firms engaging in this practice with either short or permanent tax holidays.

Corporate tax reform needs to be revenue positive. It makes no sense to freeze the corporate income tax component of federal revenues at historically low levels, much less reduce them further.

The tax code should reflect longstanding principles of tax progressivity, in which those with higher incomes pay a larger share in taxes than those with lower incomes.

Business for Shared Prosperity, the Main Street Alliance, the American Sustainable Business Council and more than 250 other business organizations, owners and executives have signed a new petition, still collecting signatures, in support of corporate tax reform based on the principles above.

“Let me get this straight – the same corporate players that routinely use their market power to steamroll over small businesses are now asking us to foot the bill for their tax holidays?” said Aimee McQuilkin, owner of Betty’s Divine in Missoula, MT, referring to a push by the “WIN America Campaign” for a temporary or even permanent tax holiday for the return of off-shored profits. McQuilkin serves on the steering committee of the Montana Small Business Alliance, affiliated with the national Main Street Alliance network. “Enough is enough,” she added. “If you want to fly the American flag outside your corporate headquarters, you should be paying your way.”

More than 1,200 business people have signed onto a longer-standing Business Against Tax Haven Abuse statement at www.businessagainsttaxhavens.org.

“We need tax reform that rewards the real job creators, not the job destroyers,” said Frank Knapp, President and CEO of the South Carolina Small Business Chamber of Commerce and Vice Chairman of the American Sustainable Business Council. “We need tax revenue to invest in a sustainable economy, not more tax and budget cuts that take money from Main Street customers while lining the pockets of quick buck artists on Wall Street.”

“Albert Einstein defined insanity as doing the same thing over and over again and expecting different results,” said Scott Klinger, tax policy director of Business for Shared Prosperity. “We can’t cut our way to recovery: The corporate tax share of federal receipts is already just 9%, way down from 32% in 1952. We need tax reform that stops corporate tax dodging instead of rewards it, levels the playing field between big business and small, and raises the revenues we need to rebuild our economy.”

“I’m tired of corporations cloaking their demand for more tax breaks in the guise of creating jobs, even as they lay off American workers,” said Jody Gorran, chairman of Aquatherm Industries Inc, in Lakewood, NJ, and a business member of the American Sustainable Business Council. “They can stop piling up record cash and begin hiring tomorrow. My company has been manufacturing in New Jersey for 22 years. It’s time for big corporations to stop passing the buck, pay their fair share in taxes and create jobs here at home.”

“At a time of unprecedented long-term unemployment, a glaring need for investment in our crumbling infrastructure and an educated workforce, and a realization that some of our largest banks and Fortune 500 companies are sitting on trillions of dollars – unwilling or unable to invest and hire American workers – our government has a responsibility to raise the revenues necessary to assure our economic recovery,” said Jim Houser, owner of Hawthorne Auto Clinic in Portland, Oregon and co-chair of the Main Street Alliance of Oregon. “There’s no excuse for delay now, given the length and depth of our current economic crisis.”

Business for Shared Prosperity is a network of forward thinking business owners, executives and investors. BSP has organized petitions for positive corporate tax reform and for ending top-rate tax cuts, and produced related reports. BSP is a member of the American Sustainable Business Council. www.businessforsharedprosperity.org

The American Sustainable Business Council is a growing coalition of business networks and businesses committed to advancing policies that support a vibrant and sustainable economy. Today, the organizations in this partnership represent over 100,000 businesses and more than 200,000 entrepreneurs, owners, executives and investors. www.asbcouncil.org

The Main Street Alliance is a national network of state-based small business coalitions. MSA creates opportunities for small business owners to speak for themselves on issues that impact their businesses and local economies. www.mainstreetalliance.org

##### Press Release ############################

[headlines]
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Fairport, New York -- Adopt-a-Dog


Polly

Pet ID #: 13968371
Breed: Labrador Retriever/Hound (Unknown Type) Mix
Color: Black
Age: Four Years
Size: Large 61-100 lbs (28-45 kg)
Sex: Female
Spayed: Yes

"Polly is just a good dog! She seems to really like being by your side, walks nicely on the leash, and is another dog who loves to be loved. She is a 4 year old Lab/Hound mix, weighs in at a slightly tubby 78 pounds, and likes treats. She too rode to Lollypop Farm in the Rescue Waggin and asks that her next ride be to her forever home. If you think you are the right people for Polly, she is available to meet you whenever the shelter is open."

This pet comes with a 30-day gift of Sheltercare pet insurance, the number one brand of pet insurance for adopted pets. Over 3 million adopted pets have already been insured!

Shelter: Lollypop Farm, the Humane Society of Greater Rochester
Address: 99 Victor Road
Fairport, NY
14450
Pet ID #: 13968371
Phone: (585) 223-1330
Let 'em know you saw "Polly" on Adopt-a-Pet.com!
E-mail: info@lollypop.org

http://www.lollypop.org/
Many very attractive dogs here!

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

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



News Briefs---

Overstock and Covenant Problem with US Bank Sale/Leaseback
http://www.businessinsider.com/overstockcom-oco-is-insolvency-looming-2011-10

Wells Fargo CEO predicts slow housing recovery
http://www.pressdemocrat.com/article/20111101/BUSINESS/111109949/1350?Title=Wells-Fargo-CEO-predicts-slow-housing-recovery

Federal Reserve wraps up policy meeting
http://seattletimes.nwsource.com/html/businesstechnology/2016659800_apusfederalreserve.html

 


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You May Have Missed---

100 years of Chevy: An improbable journey to American icon
http://www.usatoday.com/money/autos/story/2011-10-28/chevy-100-years/51007820/1

 

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Sports Briefs----

 

Ben Roethlisberger helps Steelers flip script on Patriots
http://www.usatoday.com/sports/football/nfl/story/2011-10-30/patriots-steelers/51008490/1

49ers open up bag of tricks
http://www.insidebayarea.com/49ers/ci_19229160?source=rss

Vick, McCoy lead Eagles' rout of Cowboys
http://www.usatoday.com/sports/football/nfl/story/2011-10-30/eagles-cowboys/51009586/1

Sacramento shelters taking drastic steps to get abandoned animals adopted
http://www.sacbee.com/2011/10/30/4016959/sacramento-shelters-taking-drastic.html

49ers hope to open new stadium a year early
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/10/30/BA5J1LNTD8.DTL&tsp=1

 

 

 


California Nuts Briefs---

Occupy Sacramento lawyers file federal lawsuit against city for park crackdown
http://www.sacbee.com/2011/11/01/4022420/occupy-sacramento-lawyers-file.html

Oakland businesses brace for general strike by Occupy demonstrators
http://www.contracostatimes.com/news/ci_19241971

Oakland police union: 'We are confused' by Quan
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/01/BAOS1LP3SB.DTL

Vallejo's bankruptcy ends after 3 tough years
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/01/BARI1LPAHN.DTL&tsp=1

 

 


“Gimme that Wine”



2011 Wine Star Award Winners
http://www.winemag.com/Wine-Enthusiast-Magazine/Web-2011/2011-Wine-Star-Award-Winners/

The Flavor of Apples and a Sip of Fall
http://www.nytimes.com/2011/11/02/dining/calvados-a-taste-of-apples-and-fall-the-pour.html?_r=1&ref=dining

Trump Accused of Stiffing Winery
http://www.winesandvines.com/template.cfm?section=news&
content=93913&htitle=Stiffed%20by%20a%20Winery

A fight over a winery crushes a family and divides a neighborhood
http://www.washingtonpost.com/local/a-fight-over-a-winery-crushes-a-family-and-divides-a-neighborhood/2011/10/27/gIQAEP1ySM_story.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/

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

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

[headlines]
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This Day in History

    1734- birthday of Daniel Boone (Boon,) American frontiersman, explorer and militia officer, born at Berks County, near Reading, PA. He is credited with the exploration and growth of Kentucky, working for the Pennsylvania Company.
February 1778, he was captured at Blue Licks, KY, by Shawnee Indians, under Chief Blackfish, who adopted Boone when he was inducted into the tribe as “Big Turtle.” Boone escaped after five months, and in 1781 was captured briefly by the British. Depsite Walt Disney’s version, he had no legal title to the lands he explored and he retired to Missouri. He experienced a series of personal and financial disasters during his life, but continued a rugged existence, hunting until his 80s. Boone died at St. Charles County, MO, Sept 26, 1820. The bodies of Daniel Boone and his wife, Rebecca, were moved to Frankfort, KY, in 1845.
What made him popular in history was his autiobiography: “ The Adventures of Colonel Daniel Boon ( that’s the way he spelled his name,) formerly a hunter, containing a narrative of the Wars of Kentucky.” 
http://www.americanwest.com/pages/boone.htm
http://earlyamerica.com/lives/boone/
    1776-William Demont (or Dement) ,Traitor to the American cause during the Revolutionary War, who enabled the British general Sir William Howe to conquer the fort with a force of 8,900 men on November 16, 1776. They captured 2,818 American officers and men, 43 guns, and 2,800 muskets. A member of the 5th Pennsylvania Battalion, who was appointed adjutant in Colo­nel Robert Magraw’s battalion on February 29, 1776. He deserted on November 2, 1776, and notified the British of the position of Fort Washington (now a neighborhood in New York City).
http://www.geocities.com/nhfortress/Fort_Washington/history.html
http://theamericanrevolution.org/battles/bat_fwas.asp
http://www.thebattlefornewyork.com/walking_tour.php
    1783 - Gen. George Washington issued his "Farewell Address to the Army" near Princeton, N.J. By this time some 100,000 Loyalists had fled the U.S. Also known as Tories, they had suffered various penalties for their loyalty to the Crown, including confiscation of property, removal from public office, and punitive taxation. Probably no more than 10% of the colonials were Tories, who were generally well-to-do, engaged in commerce or the professions, or public officials. Many fled to Canada, some to England. Some returned after the war. Many, however,
had remained behind. After the conflict many were able to recover at least some of their confiscated property. Many of those who had fought along side with the British were granted land in Canada.
    1795- Birthday of James Knox Polk, the 11th president of the US was born at Mecklenburg County, NC. His term of office: Mar 4, 1845—Mar 3,1849. A compromise candidate at the 1844 Democratic Party convention, Polk was awarded the nomination on the ninth ballot. He declined to be a candidate for a second term and declared himself to be “exceedingly relieved” at the completion of his presidency. He died shortly thereafter at Nashville, TN, June 15,1849.
    1810 -a 7 inch snowfall in New York City permitted very early sleighing in the city streets.
    1820 - The Revenue cutter Louisiana captured five pirate vessels during a cruise from Florida to Cuba.
    1824-The first popular vote in a presidential election took place when 356,038 votes were cast for four candidates. This was also the first election in which the final decision was made by the House of Representatives because none of the candidates won a majority of electoral votes. Although Andrew Jackson received a greater share of both the popular and the electoral vote that the runner-up, John Quincy Adams, a deal was struck to give Adams the electoral votes of Henry Clay, another candidate. Adams thereby acquired enough votes to be declared the winner.
    1846-Donner Party crossing the Sierra stopped for the evening and were trapped by a snowstorm. Many of the party survived by eating the flesh of the dead. 40 of the 87 people in the Donner party died. They remained snowbound until February.
    1852 - Franklin Pierce was elected US president over Gen’l. Winfield Scott, who ran as a Whig. In 1852, the U.S. Congress passed a resolution giving Scott the pay and rank of a lieutenant general. Scott was the first to hold this rank since George Washington.
    1861–November 2- Captain Nathaniel Gordon becomes became the only person in U.S. history to be executed for slave-trading. He was also considered a pirate.
http://www.correctionhistory.org/html/chronicl/tombs/gordon/whytombs1.htm
http://blackhistory.harpweek.com/7Illustrations/Slavery/ExecutionOfSlavetrader.htm
    1861 - Controversial Union General John C. Fremont is relieved of command in the Western Department and replaced by David Hunter. Fremont’s actions in Missouri fueled secessionist spirit and alienated many Northerners who were unwilling to wage a war to end slavery. Lincoln requested privately that Fremont rescind the order, but he refused. Lincoln had no choice but to negate the order of emancipation and remove Fremont from command in the west. Fremont still had many supporters, so Lincoln placed him in charge of a small army in Virginia. Some Republican allies urged Fremont to challenge Lincoln for the 1864 presidential nomination, but Fremont declined. After the war, he served as territorial governor of Arizona and died in New York in 1890.
    1862-Mary Todd Lincoln corresponded with her husband advising him of popular sentiment against cautious General in Chief of the Federal Army George B. McClellan. Contrary to popular belief, Mary Todd was a close confident and love of Lincoln’s life. He was to let McClellan go in favor of U.S. Grant, which also led to McClellan
running as the Democratic opponent against him for president.
( lower half: http://memory.loc.gov/ammem/today/nov02.html )
    1865- Birthday of Warren Gamaliel Harding. Twenty-ninth president of the US was born at Corsica, OH. His term of office: Mar 4, 1 921—Aug 2,1923 (died in office). His undistinguished administration was tainted by the Teapot Dome scandal, and his sudden death while on a western speaking tour (San Francisco, CA, Aug 2,1923) prompted many rumors. He was a well-known womanizer of his time, and it was right after women were given the right to vote, and the saying
in Washington, DC, “ We gave the women the right to vote and they picked handsome Warren G. He was said to bring women into the White House, on trips, and died of heart attack that his wife was treating him for exhaustion with an electronic device they purchased in San Francisco.
    1880 - James A. Garfield was elected 20th president. During the Civil War, Garfield was a commander at the bloody fight at Chickamauga. The election was close, with Republican James Garfield getting 48.27% to Democrat Winfield Hancock‘s 48.25% and a difference of less than 2,000 vote. Garfield was shot by a disgruntled office seeker four months into his presidency.
    1889- North Dakota and South Dakota were admitted into the Union, the 39th and 40th states, the first time that two states simultaneously became a part of the United States. President Benjamin Harrison had a problem with admitting the two states on the same day. Which one would be first? He decided it was easier to mix up the admissions papers so no one would know and just list the states alphabetically. That’s why North Dakota is the 39th and South Dakota is the 40th of the United States of America. The Dakotas took their name from the Sioux Indian word for ’ally’, although the settlers and the Sioux weren’t always allies (Battle of Wounded Knee). Those searching for a route to the Pacific Ocean settled in South Dakota, Ft. Pierre being the first permanent white settlement. Pierre remains the capital of South Dakota. Bismarck is the capital of North Dakota. Both states are still essentially rural and agricultural. The western meadowlark and the ring-necked pheasant, the North and South Dakota state birds, respectively, still fly over the vast meadowlands. North Dakota’s flower is the wild prairie rose, while the pasque flower holds that title in South Dakota. North Dakota, home of several major air bases and intercontinental ballistic missile sites, is known as the Peace Garden State, while its more southern counterpart is called the Coyote State.
http://memory.loc.gov/ammem/today/nov02.html
    1902- San Francisco’s China Town was amazed to see an 18-year-old petite girl give a rousing oration against the foot binding of women, their arranged marriages and forced illiteracy. Sien King King became a member of the Chinese bachelor society and continued her battle for feminism. She believed the repressive actions against women prevented the Chinese from advancing in the U.S. (and the world).
    1908-Trumpet player Bunny Berigan birthday 
http://user.tninet.se/~npt755v/bundisc.htm
    1911-birthday of Johnny Richards in Schenectady, NY, jazz composer-arranger.
    1920 - Warren G. Harding was elected 29th president. He defeated James Cox.The electoral vote was Hardin, 404; James M. Cox, Democratic candidate, 127. The popular vote was Harding, 16,152,200; Cox, 9,147,353 The election campaign was primarily a referendum on the Wilson presidency and the League of Nations. Cox supported it fully, while Harding did not make his position clear. Harding supported prohibition and Cox opposed it. Cox ran a vigorous campaign, while Harding ran a mostly a front porch campaign. Cox's efforts and that of his hard campaigning Vice Presidential candidate had little effect. Ultimately, the weariness of the nation determined the election in favor of Harding, who obtained an overwhelming victory. the Republicans increased thier majorities in both houses, leasing 59-37 in the Senate and 301-131, with one minor party seat and two vacancies, in the House.
    1923-birthday of 1923. William Robert (Billy) Haughton, standard bred dri­ver and trainer born at Gloversville, NY. Haughton won nearly 4,900 races in his career. Along with Stanley Dancer, he dominated the New York trotting scene in the 1 950s and then moved on to a national career. He suf­fered severe head injuries in a three-horse accident at Yonkers Raceway and died at Valhalla, NY, July 15, 1986.
    1926-The first Senate election in which neither candidate was seated after a recount was the election in Pennsylvania. William Bauchop Wilson, a Democrat, was narrowly defeated by William Scott Vare, a Republican who presented his credentials as senator-elect fro the term beginning March 4, 1927. The Senate, on December 6, 1929, decided by a vote of 58-22 that Vare was not entitled to the seat due to charges of corruption and fraud concerning his election Governor John Stuchell Fisher, appointed Joseph Ridway Grunday, a Republican, to the vacant seat. Grundy served from December 11,1929 to December 1, 1930. He was unsuccessful for the nomination of this office after being
accused of contributing $400,000 to the former incumbent Senator Pepper, who had been defeated by Vare.
http://bioguide.congress.gov/scripts/biodisplay.pl?index=V000071
http://www.blossburg.org/wb_wilson/thestory_7.htm
http://bioguide.congress.gov/scripts/biodisplay.pl?index=G000510
    1931-- birthday of alto saxophonist Phil Woods.
    1936-the Basie Band splits for Kansas City for points East and Worldwide fame. "Goin' to Chicago, Sorry I Can't Take You." Little Jimmy Rushing.
    1942---Birthday of Shere Hite, author and researcher. Her best known work, The Hite Report, one of the pioneer works on the realities of women's sexuality.
    1942--WILKINS, RAYMOND H. (Air Mission) Medal of Honor
Rank and organization: Major, U.S. Army Air Corps. Place and date: Near Rabaul, New Britain, 2 November 1943. Entered service at: Portsmouth, Va. Born: 28 September 1917, Portsmouth, Va. G.O. No.: 23, 24 March 1944. Citation: For conspicuous gallantry and intrepidity above and beyond the call of duty in action with the enemy near Rabaul, New Britain, on 2 November 1943. Leading his squadron in an attack on shipping in Simpson Harbor, during which intense antiaircraft fire was expected; Maj. Wilkins briefed his squadron so that his airplane would be in the position of greatest risk. His squadron was the last of 3 in the group to enter the target area. Smoke from bombs dropped by preceding aircraft necessitated a last-second revision of tactics on his part, which still enabled his squadron to strike vital shipping targets, but forced it to approach through concentrated fire, and increased the danger of Maj. Wilkins' left flank position. His airplane was hit almost immediately, the right wing damaged, and control rendered extremely difficult. Although he could have withdrawn, he held fast and led his squadron into the attack. He strafed a group of small harbor vessels, and then, at low level, attacked an enemy destroyer. His 1,000 pound bomb struck squarely amidships, causing the vessel to explode. Although antiaircraft fire from this vessel had seriously damaged his left vertical stabilizer, he refused to deviate from the course. From below-masthead height he attacked a transport of some 9,000 tons, scoring a hit which engulfed the ship in flames. Bombs expended, he began to withdraw his squadron. A heavy cruiser barred the path. Unhesitatingly, to neutralize the cruiser s guns and attract its fire, he went in for a strafing run. His damaged stabilizer was completely shot off. To avoid swerving into his wing planes he had to turn so as to expose the belly and full wing surfaces of his plane to the enemy fire; it caught and crumpled his left wing. Now past control, the bomber crashed into the sea. In the fierce engagement Maj. Wilkins destroyed 2 enemy vessels, and his heroic self-sacrifice made possible the safe withdrawal of the remaining planes of his squadron.
1944 - During the day, the US 8th Air Force attacks the Leuna synthetic oil plant at Merseburg. The Americans claim 183 German fighters (including 4 jets) destroyed for the loss of 40 bombers and 28 fighters (including losses to antiaircraft defenses). During the night, Bomber Command attacks Dusseldorf with 992 bombers as well as sending smaller forces to strike other targets. A total of 20 planes are reported lost in all operations.
    1944--BOLTON, CECIL H. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company E, 413th Infantry, 104th Infantry Division. Place and date: Mark River, Holland, 2 November 1944. Entered service at: Huntsville, Ala. Birth: Crawfordsville, Fla. G.O. No.: 74, 1 September 1945. Citation: As leader of the weapons platoon of Company E, 413th Infantry, on the night of 2 November 1944, he fought gallantly in a pitched battle which followed the crossing of the Mark River in Holland. When 2 machineguns pinned down his company, he tried to eliminate, with mortar fire, their grazing fire which was inflicting serious casualties and preventing the company's advance from an area rocked by artillery shelling. In the moonlight it was impossible for him to locate accurately the enemy's camouflaged positions; but he continued to direct fire until wounded severely in the legs and rendered unconscious by a German shell. When he recovered consciousness he instructed his unit and then crawled to the forward rifle platoon positions. Taking a two-man bazooka team on his voluntary mission, he advanced chest deep in chilling water along a canal toward 1 enemy machinegun. While the bazooka team covered him, he approached alone to within 15 yards of the hostile emplacement in a house. He charged the remaining distance and killed the 2 gunners with hand grenades. Returning to his men he led them through intense fire over open ground to assault the second German machinegun. An enemy sniper who tried to block the way was dispatched, and the trio pressed on. When discovered by the machinegun crew and subjected to direct fire, 1st Lt. Bolton killed 1 of the 3 gunners with carbine fire, and his 2 comrades shot the others. Continuing to disregard his wounds, he led the bazooka team toward an 88-mm. artillery piece which was having telling effect on the American ranks, and approached once more through icy canal water until he could dimly make out the gun's silhouette. Under his fire direction, the two soldiers knocked out the enemy weapon with rockets. On the way back to his own lines he was again wounded. To prevent his men being longer subjected to deadly fire, he refused aid and ordered them back to safety, painfully crawling after them until he reached his lines, where he collapsed. 1st Lt. Bolton's heroic assaults in the face of vicious fire, his inspiring leadership, and continued aggressiveness even through suffering from serious wounds, contributed in large measure to overcoming strong enemy resistance and made it possible for his battalion to reach its objective.
    1946 -a three day snowstorm began at Denver, CO. By the time it ended had dropped 31 inches of snow on the city, the second greatest snowfall ever
    1947-the mammoth flying boat Hercules, then the world’s largest airplane, was designed, built and flown (once) by Howard Hughes on this day. Its first and only flight was about one mile and at an altitude of 70 feet over Long Beach Harbor, CA. The $25 million, 200-ton plywood craft was nicknamed the “Spruce Goose.” It is now displayed near the Queen Mary at Long Beach, CA.
    1948 - When Harry S Truman went to bed this day, he was losing the election for president of the United States (to Thomas E. Dewey). "Chicago Daily Tribune" printers were out on strike and getting the newspaper to readers was no simple task. To make a long story short, the editors had to guess at the outcome of the election and picked/printed the wrong person to win. Upon arising the next morning, Truman learned he had won. On a short train stop in St. Louis, he stepped onto the back platform of the train and was presented with one of the newspapers with the infamous headline, “DEWEY DEFEATS TRUMAN”. It was at that moment that the famous photo of Truman holding up the paper was taken. When asked to comment, Truman said “This is for the books.”
    1949---Top Hits
That Lucky Old Sun - Frankie Laine
You’re Breaking My Heart - Vic Damone
I Can Dream, Can’t I? - The Tommy Dorsey Orchestra (vocal: Jack Leonard)
Slipping Around - Margaret Whiting & Jimmy Wakely
    1950---VAN WINKLE, ARCHIE---Medal of Honor
Rank and organization: Staff Sergeant, U.S. Marine Corps Reserve, Company B, 1st Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Vicinity of Sudong, Korea, 2 November 1950. Entered service at: Arlington, Wash. Born: 17 March 1925, Juneau, Alaska. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a platoon sergeant in Company B, in action against enemy aggressor forces. Immediately rallying the men in his area after a fanatical and numerically superior enemy force penetrated the center of the line under cover of darkness and pinned down the platoon with a devastating barrage of deadly automatic weapons and grenade fire, S/Sgt. Van Winkle boldly spearheaded a determined attack through withering fire against hostile frontal positions and, though he and all the others who charged with him were wounded, succeeded in enabling his platoon to gain the fire superiority and the opportunity to reorganize. Realizing that the left flank squad was isolated from the rest of the unit, he rushed through 40 yards of fierce enemy fire to reunite his troops despite an elbow wound which rendered 1 of his arms totally useless. Severely wounded a second time when a direct hit in the chest from a hostile hand grenade caused serious and painful wounds, he staunchly refused evacuation and continued to shout orders and words of encouragement to his depleted and battered platoon. Finally carried from his position unconscious from shock and from loss of blood, S/Sgt. Van Winkle served to inspire all who observed him to heroic efforts in successfully repulsing the enemy attack. His superb leadership, valiant fighting spirit, and unfaltering devotion to duty in the face of heavy odds reflect the highest credit upon himself and the U.S. Naval Service.
    1954-the first US Senator elected by a write-in vote was James Strom Thurmond, Democrat of South Carolina, who was elected on November 2,1954, for the term ending January 3, 1961.Thurmond received 139,106 votes, defeating Edgar Brown, the official candidate of the Democratic Party, who received 80,956 votes.
Senator Thurmond, the oldest member of the Senate, recently announced he
will not run for re-election.
    1955 - Julie London's first pop song, a sultry version of "Cry Me a River," made its appearance on the charts. The song spent 5 months on the charts, but only reached #9 at its peak. Julie is the former wife of both Dragnet's Jack Webb and songwriter/ trumpeter Bobby Troup.
    1955-Tennessee Ernie Ford's "Sixteen Tons" first appears on the charts. It will become one of the biggest selling singles of its time.
    1955-- Julie London's "Cry Me a River" enters the charts
    1956-- A riot breaks out at Fats Domino's show in Fayetteville, NC, with police resorting to tear gas to break up the unruly crowd. Fats jumps out of a window to avoid the melee; he and two other band members are slightly injured.
    1957---Top Hits
Jailhouse Rock - Elvis Presley
You Send Me - Sam Cooke
Silhouettes - The Rays
Wake Up Little Susie - The Everly Brothers
    1958-the Chicago Bears and the Los Angeles Rams set an NFL single-game attendance record as 90,833 fans watched the Rams beat the Bears, 41-35, at the Los Angeles Coliseum.
    1958 - "Billboard" magazine introduced a new chart ranking top singles, in order, from number 1 to 100. Before this invention, only 30 records were on weekly hit lists.
    1959 - Charles Van Doren, when questioned on this date about winning $129,000 on a television quiz show, told a congressional investigation committee that he was given the answers in advance by program staff members. His testimony was the most dramatic to date in the ongoing investigation of quiz show scandals. Van Doren had been a low-salaried college assistant professor who appeared on the show Twenty- One. It was revealed that rigging was prevalent on many television quiz shows during the early 1950s in order to boost viewer ship. Van Doren benefited from the rigging not only by receiving the huge amount of money, but by later earning a regular spot on the Today television show.
    1961 - The temperature at Atlanta, GA, reached 84 degrees to establish a record for November.
    1962-The missile bases in Cuba were being dismantled, President Kennedy reported to the nation, adding that “progress is now being made toward restoration of peace in the Caribbean.”
    1962 - Elvis Presley film ``Girls! Girls! Girls!'' premieres.
    1963 - Following the overthrow of his government by South Vietnamese military forces the day before, President Ngo Dinh Diem and his brother are captured and killed by a group of soldiers. The death of Diem caused celebration among many people in South Vietnam, but also lead to political chaos in the nation.Diem was perceived as an impediment to the accomplishment of U.S. goals in Southeast Asia. His increasingly dictatorial rule only succeeded in alienating most of the South Vietnamese people, and his brutal repression of protests led by Buddhist monks during the summer of 1963 convinced many American officials that the time had come for Diem to go. Three weeks later, an assassin shot President Kennedy. By then, the United States was more heavily involved in the South Vietnamese quagmire than ever.
    1963-The Beach Boys' "Be True To Your School" is released.
    1963-- Dion angrily walks off the set of the British ITV television program Ready Steady Go! in the middle of performing his hit "Donna the Prima Donna," claiming the go-go dancers surrounding him duing the song are distracting.
    1963-- Reviewing the Beatles' concert the night before in Cheltenham, England, the British paper Daily Mirror uses the headline "Beatlemania!" effectively inserting the phrase into the popular consciousness for the first time.
    1965---Top Hits
Yesterday - The Beatles
A Lover’s Concerto - The Toys
Get Off of My Cloud - The Rolling Stones
Hello Vietnam - Johnny Wright
    1968 - Another Stevie Wonder hit went on sale, "For Once in My Life" would reach #2 on the pop charts on December 28, 1968.
    1968-- Cream is presented with a platinum album for Wheels of Fire at the Madison Square Garden stop of their farewell tour.
    1969-- The Rolling Stones quasi-documentary Sympathy for the Devil, directed by Jean-Luc Godard, premieres in San Francisco.
    1971 - No. 1 Billboard Pop Hit: ``Gypsys, Tramps & Thieves,'' Cher.
    1973---Top Hits
Midnight Train to Georgia - Gladys Knight & The Pips
Keep on Truckin’ - Eddie Kendricks
Paper Roses - Marie Osmond
We’re Gonna Hold On - George Jones & Tammy Wynette
    1974- "The Way We Were" by Barbra Streisand topped the charts and stayed there for 3 weeks.
    1974-Three Dog Night's next to last chart record, "Play Something Sweet" enters The Hot 100 where it will peak at number 33. August of 1975 would see the end of their eight years as hit makers when "Til the World Ends" would reach number 32.
    1974-Even though he was the one who was the most opposed to touring in the final years of The Beatles, George Harrison became the first to set out on a solo tour when he appeared in Vancouver, Canada with Billy Preston. It will be a troublesome show for him as his voice is ravaged after LP sessions and tour rehearsals. The concert and the rest of the tour played in front of thin crowds.
    1976-James Earl “Jimmy” Carter, Jr., was elected president of the United States. Walter F. Mondale was elected vice president. The electoral vote was Carter 297; Pres. Ford, 240. The popular vote was Carter, 40,828,929, Ford, 39,148,940. In congressional elections the Democrats kept a 2-1 Senate majority, 61-38, with one seat going to an independent, and House majority of 292-143.
    1981---Top Hits
Arthur’s Theme (Best That You Can Do) - Christopher Cross
Start Me Up - The Rolling Stones
Private Eyes - Daryl Hall & John Oates
Never Been So Loved (In All My Life) - Charley Pride
    1983-- President Ronald Reagan signs a bill establishing Martin Luther King, Jr., Day.
    1984-After a judge rules that he shot in self defense, The Reverend Marvin Gay Sr. is given only five years probation for killing his son, Marvin Gaye. (Marvin added an "e" to his stage name) Ironically, it was Marvin Jr. who had given his father the .38 revolver used in the killing.
    1985-- With his new single, "Part-Time Lover," topping the charts, Stevie Wonder becomes the artist with the longest period between Number Ones: 22 years. (This song also sets a record by going to #1 on five different Billboard charts.
    1985 - For the second time in television history,, a soundtrack LP from a television show topped the album charts. "Miami Vice", with a title track by Jan Hammer, spent 11 nonconsecutive weeks at #1. The only other television soundtrack to hit #1 was Henry Mancini’s "Peter Gunn" in 1959.
    1985 - Stevie Wonder's "Part-Time Lover " reaches the No. 1 spot in The Billboard Hot 100. Winning this spot makes Wonder the first artist to have a single on five different Billboard charts: the Hot 100, Hot Black Singles, Hot Adult Contemporary, Hot Dance/Disco Club Play and Hot Dance/Disco 12-inch Singles.
1985- "I Want to Know What Love Is" by Foreigner topped the charts and stayed there for 2 weeks.
    1989---Top Hits
Miss You Much - Janet Jackson
Sowing the Seeds of Love - Tears For Fears
Listen to Your Heart - Roxette
High Cotton – Alabama
    1989 - Squalls in the Upper Great Lakes Region the first three days of the month buried Ironwood MI under 46 inches of snow, and produced 40 inches at Hurley WI. Arctic cold invaded the Southern Plains Region. Midland TX reported a record low of 22 degrees.
    1991 - Karyn White’s "Romantic" hit #1 for one week on the "Billboard Hot 100" chart.
    1993 - Christine Todd Whitman was elected the first woman governor of New Jersey.
    1994----Top Hits
I ll Make Love To You- Boyz II Men 
All I Wann---Top Hits a Do- Sheryl Crow
Secret- Madonna
Another Night- Real McCoy
    1995 - The immensely popular Seinfeld episode, "The Soup Nazi", first aired on NBC.
    1995-The US TV music show Soul Train celebrates 25 years on the air with appearances by Al Green, Bill Withers, Diana Ross and Patti LaBelle.
    1997 - Denver QB John Elway reached two milestones this day. (1)He accounted for 276 total yards (in a 30-27 victory over the Seattle Seahawks) for 50,273 yards in his career. He was the third player in NFL history -- after Dan Marino and Fran Tarkenton -- to reach the 50,000 plateau. (2)And with 252 yards passing, Elway moved past Tarkenton into second place in career passing yardage with 47,019, trailing only Marino at that point. (All this during a 30-27 victory over the Seattle Seahawks.) 
    1999----Top Hits
Smooth- Santana Featuring Rob Thomas 
Satisfy You- Puff Daddy Featuring R. Kelly
Heartbreaker- Mariah Carey Featuring Jay-Z 
Mambo No. 5 (A Little Bit Of...)- Lou Bega
    1999 - NBA.com TV, a 24-hour TV network, was launched by the National Basketball Association. Commissioner David J. Stern said, “"NBA.com TV represents the convergence of the Internet, television and basketball. By combining the immediacy and depth of information from NBA.com with current and historical television programming from the NBA, NBA.com TV will offer our fans complete, round-the-clock coverage of the league."
    2000- Wrigley Field has been granted preliminary landmark status by the Commission on Chicago Landmarks. Any plans to refurbish or tear down Cubs' home since 1916 will have to be reviewed by this panel.
    2000-www.classicbands.com goes online, publishing in both official languages: Rock and Roll.
    2003----Top Hits
Baby Boy, Beyonce-Featuring Sean Paul
Stand Up- Ludacris Featuring Shawnna
Holidae In- Chingy Featuring Ludacris & Snoop Dogg
Get Low- Lil Jon & The East Side Boyz Featuring Ying Yang Twins
    2006 - Justin Timberlake and Gnarls Barkley each win several trophies at the 13th annual MTV Europe Music Awards, held in Copenhagen. Timberlake, who also serves as host and performer at the event, wins for best male and best pop. Gnarls Barkley wins best song for their international smash "Crazy."

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