Exclusive: Hudson Tells Leasing News "Now's the Time!"

Steve Hudson believes "now is the perfect time to get started in the leasing business again." He built Newcourt, the Toronto-based commercial lending business with less than $500,000, sold to CIT in a stock swap for $2.8-billion in 1999. He then got out as the industry hit the wall. Now he wants back in again.

“Now’s the time,” Hudson told Leasing News. "… others will be left behind if they wait until the economy fully heals itself two years from now." He notes there are many trends that are up, including automobile sales. He likens this to a time he saw in the past that helped him build Newcourt.

This time he says the leasing thrust will use automation, primarily with LeaseTeam, Inc., state of the art software and web approaches, one of the reasons he purchased Alter Moneta, who was a big user of LeaseTeam, Inc., he told Leasing News. He points out Alter Moneta is already active here, and he will make Element Financial even more active.

His business model will be 80% direct and 20% broker. While they work with some brokers now, he does not see expanding it more, but will be adding select brokers in the near future, he told Leasing News. He plans more automation and using the latest tools to grow their portfolio.

He recently completed a $175.14 million private placement subscription. He is planning an IPO perhaps as early as December and thus entered into a definitive amalgamation agreement with Mira II Acquisition (Mira) pursuant to which Element will merge with Mira pursuant to an amalgamation under the Business Corporations Act (Ontario), with the continuing entity to be known as “Element Financial Corporation”. Mira is a capital pool company listed on the Toronto stock exchange (TSX Venture Exchange) and the amalgamation will complete the previously announced qualifying transaction of Mira in accordance with the rules and policies of the TSXV.

Previously he created the entity with $10 million from Cameron Capital Corp, which he named for his son, and $75 million private placement stock. It seems one of his first moves was paying book value for the assets of Montreal-based Alter Moneta, a leasing firm that was started in 1998 with money from National Bank of Canada and the Caisse de depot et placment due Quebec.

Hudson reportedly paid book value for the assets of Montreal-based Alter Moneta, a leasing firm that was started in 1998 with money from National Bank of Canada and the Caisse de dépôt et placement du Québec. It now has about $180-million in lease assets. In 2007, Bear Stearns Merchant Banking bought a controlling stake in Alter Moneta, and when Bear Stearns subsequently collapsed in 2008, Alter Moneta’s funding dried up as banks avoided anything that was affiliated with Bear Stearns.

In 1999, Hudson got out of leasing and into other businesses with the touch of gold, making excellent profits as he has the ability to see the future and bring people together who contribute to the success of his ventures. He earned much notoriety as well as an excellent return on his initial investment. His goal appears to be both the Canadian market, and United States leasing Market, and perhaps as other companies have done, but this time differently, as he will either buy or merge with a bank chartered to do business in both countries.

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Classified Ads--- Legal

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

Legal

San Diego , CA  Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate. Cell Phone: 760-533-4058; Email:marshallrosenberg@gmail.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

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Marlin Business Service Officers’ "Exotic Pay"
by Christopher Menkin

Marlin Business Services Corp (NASDAQ: MRLN), parent of Marlin Leasing, reported a third quarter net income of $1.8 million. For the nine-month period ended September 30, 2011, net income was $4.1 million.

October 19, 2011 Leasing News noted the serious trading of stock by President, CEO, Treasurer Daniel P. Dyer and George D Pelose, Executive Vice President, Chief Operating Officer, General Counsel & Secretary. The third quarter did not report the officers’ salary, but here are 2010 year-end:

In addition:

"The Company recognized $2.0 million and $2.0 million of compensation expense related to restricted stock for the nine-month periods ended September 30, 2011 and September 30, 2010, respectively. Of the $2.0 million total compensation expense related to restricted stock for the nine-month period ended September 30, 2011, approximately $0.6 million related to the acceleration of vesting based on an annual evaluation of the achievement of certain performance criteria during the first quarter 2011.

As of September 30, 2011, there was $5.4 million of unrecognized compensation cost related to non-vested restricted stock compensation scheduled to be recognized over a weighted average period of 4.4 years, based on the most probable performance assumptions as of September 30, 2011. In the event performance targets are achieved, $2.5 million of the unrecognized compensation cost would accelerate to be recognized over a weighted average period of 1.2 years. In addition, certain of the awards granted may result in the issuance of 163,783 additional shares of stock if achievement of certain targets is greater than 100%. The expense related to the additional shares awarded will be dependent on the Company’s stock price when the achievement level is determined.

The fair values of shares that vested during the three-month periods ended September 30, 2011 and September 30, 2010 were $0.4 million and $0.1 million, respectively. The fair values of shares that vested during the nine-month periods ended September 30, 2011 and September 30, 2010 were $3.6 million and $1.6 million, respectively.
     page 23

And where did the net profit come from? Yes, again, as for the last two years, Evergreen clause.

Fee income was $1.2 million and $1.3 million for the same period of time as part of residuals, as well as renewal income totaled $5.7 for the three month period, and $5.8 million for the nine-month period.

	Net Profit	Lease Renewel income	net of depreciation
First Quarter, 2010	$1.2 million	$1.9 million	$1.8 million (1)
Second Quarter, 2010	$1.2 million	$3.9 million	$2.5 million (2)
Third Quarter, 2010	$1.4 million	$1.9 million	$1.8 million (3)
Fourth Quarter, 2010	$1.8 million
First Quarter, 2011	$1.2 million	$2.0 million	$1.9 million (4)
Second Quarter, 2011	$1.5 million	$2.3 million	$2.7 million (6)

In Marlin’s third quarter filing, page 42, it was stated 81.4% of residual assets were related to copiers:

"As of September 30, 2011, approximately 65% of our leases were one dollar purchase option leases, 33% were fair market value leases and 2% were fixed purchase option leases, the latter of which typically contain an end-of-term purchase option equal to 10% of the original equipment cost. As of September 30, 2011, there were $33.9 million of residual assets retained on our Consolidated Balance Sheet, of which $27.6 million, or 81.4%, were related to copiers. No other group of equipment represented more than 10% of equipment residuals as of September 30, 2011 and December 31, 2010, respectively."
    page 42

"Fee income included approximately $1.2 million and $1.3 million of net residual income for the three-month periods ended September 30, 2011 and September 30, 2010, respectively. Fee income included approximately $3.5 million and $4.0 million of net residual income for the nine-month periods ended September 30, 2011 and September 30, 2010

"Our leases generally include renewal provisions and many leases continue beyond their initial contractual term. Based on the Company’s experience, the amount of ultimate realization of the residual value tends to relate more to the customer’s election at the end of the lease term to enter into a renewal period, purchase the leased equipment or return the leased equipment than it does to the equipment type. We consider renewal income a component of residual performance. Renewal income net of depreciation totaled approximately $1.9 million for each of the three-month periods ended September 30, 2011 and September 30, 2010. Renewal income net of depreciation totaled approximately $5.7 million and $5.8 million for the nine-month periods ended September 30, 2011 and September 30, 2010, respectively."
    page 42

"During the three months ended September 30, 2011, we generated 4,580 new leases with a cost of $59.7 million, compared to 3,253 new leases with a cost of $35.8 million generated for the three months ended September 30, 2010. Much of the change in volume is the result of increasing sales staffing levels from 84 sales account executives at September 30, 2010 to 95 sales account executives at September 30, 2011. Approval rates also rose from 49% for the quarter ended September 30, 2010 to 60% for the quarter ended September 30, 2011 due to the improved credit quality of the applications received and adjustments made to credit policy in light of the continued strong performance of recent years’ lease originations."
    page 30

Again, should Pennsylvania, where Marlin runs their documentation center, change its position that lessees be notified in advance of a lease expiring, it would require them to move this operation to another state and if not, more than likely change the profit position of Marlin Business Services.

(1) http://leasingnews.org/archives/May2010/5_10.htm#marlin_profit
(2) http://leasingnews.org/archives/Aug2010/8_11.htm#evergreen
(3) http://leasingnews.org/archives/Nov2010/11_10.htm#marlins_3rd
(4) http://leasingnews.org/archives/May2011/5_09.htm#marlin_profit
(5) http://leasingnews.org/archives/Mar2011/3_21.htm#marlin
(6) http://leasingnews.org/archives/Aug2011/8_05.htm#marlin
(7) http://leasingnews.org/PDF/Marlin2010Year-End.pd

Third Quarter SEC filing:
http://leasingnews.org/PDF/Marlin10Q_9302011.pdf

Previous stories:
http://www.leasingnews.org/Conscious-Top%20Stories/Marlin_Leasing_2008.htm

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

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Former Head of Marlin Leasing Grows His New Company

Navitas Lease Corp. continues to grow, announcing the closing of a $22 million Series B Preferred Stock investment led by BlueMountain Capital Management, LLC. BlueMountain participated in this investment through funds it manages. It also adds to his current lines of credit.

“The company has worked hard in the last two years to position itself to capitalize on the current market conditions,” says Gary Shivers, President and CEO of Navitas. “BlueMountain has substantial resources to support our growth as well as expertise in financial services.”

Gary Shivers, The former president of Marlin Business began planning his leasing company the end of 2008, as his resignation December 20, 2006 restricted prohibited him from doing leasing business until January 31, 2009. (1)

He began building the company, raising capital and investment, concentrating on direct business at their office in Ponte Vedra Beach, Florida; opening a second office in Cherry Hill, New Jersey. In June, 2011, he created RLC Funding, to be run by Dwight Galloway, long time "broker only" leader, veteran of LEAF Specialty, NetBank Leasing, and Republic Leasing of South Carolina. Shiver's division would concentrate on direct and Galloway in Columbus, Georgia, would concentrate on "broker only," which he has been doing for over 25 years. The only hold-up, reportedly frustrating Dwight Galloway the most, it has been seven months since submitting to become licensed to do leasing and finance in California. The California Finance Lender's office is quite behind since the cutbacks by the California state legislature.

BlueMountain, headquartered in New York, New York, reportedly was attracted to Navitas" due to the strength and reputation of the management team."

“The company has made considerable progress in managing growth and developing their operating platform in the current economic environment. They have the resources and capabilities to become a dominant competitor in their market,” said Brad Schwartz, Portfolio Manager in charge of Asset Backed Strategies at BlueMountain.

(1) http://www.leasingnews.org/PDF/Marlin-8k.PDF

(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

Career Crossroad— "Changes to occur with current employer..."

Question: There have been concerns regarding changes soon to occur with my current employer, any suggestions?

Answer: Try to see the writing on the wall, be prepared and try to do some research to find out if it is truly just a rumor. Warning signs could include changes to executive level employees, changes in compensation plans, changes in quotas/goals, company MERGERS (companies often do not duplicate roles) and most importantly keep abreast of the profitability of your current employer. A big warning sign: key players (not only executives) moving on …. Particularly tenured employees.

So what to do …

I. You will have to contemplate if you are willing to give up a severance package (if the company HISTORICALLY has provided.) Many large organizations provide severance based on years of employment – BUT this is NOT a guarantee. First, are willing to give it up to find a job before a downsizing occurs (you MUST remember you may be competing with colleagues for limited positions in this economy so I would be careful in making up your mind of who to talk to about this).

II. Update your resume
Make sure you resume is up to par and is “marketable”; you may want to use a resume consultant for this task

III. Research
Begin researching companies and/or other industries that you would be interested in working for so you can hit the ground running if you are laid off

IV. References
Start asking managers or previous managers, clients, and / or colleagues for reference letters and prepare a folder (electronic) so you will have these at your finger tips. I can't emphasize enough: BE careful doing this – you don’t want colleagues to “leak” your plans – it could backfire; be strategic in gathering your references. Keep information on your flash stick, not on your computer, and make sure you have copies of items you have in case you are not given the time to save them.

V. Gather Proof of your Success – Very Important for Sales Positions
Make sure you compile your track record of success for the last 5 years … this can be demonstrated in w-2’s, pipeline reports, etc…

I strongly advise preparing in advance of a potential layoff / downsizing / company closure / merger ----you won’t panic if they shut down your computer and walk you to the door!

If you really believe the “rumor” is true, do more than prepare, start looking for new opportunities … It is always better to look for a job while you still have a job as it not only keeps you in practice, but you will be ready to hit the streets right away.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
www.riirecruit.com

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

Processing online poker operators does one bank in,
-- Another is taken over by a bank, basically "on the come"

The three branches of SunFirst Bank, Saint George, Utah, were closed with Cache Valley Bank, Logan, Utah, to assume most of the deposits. The FDIC will retain approximately $15 million in deposits that may be subject to external litigation involving SunFirst Bank. The affected accounts were frozen prior to the failure of the bank. All other accounts were transferred to Cache Valley Bank.

Executives of the bank were charged along side the co-founders of three online poker companies, including Full Tilt Poker, PokerStars and UB.com. Allegedly they were processed and disguised as dog food and golf ball purchases!

“John Campos, former Vice Chairman at SunFirst Bank of St. George, is alleged to have processed internet poker transactions at the bank in exchange for a $20,000 “bonus” and his cohort’s investment of $10 million to SunFirst Bank.”

http://insidemainstreet.com/2011/09/08/bank-tied-to-online-poker-and-fraud-ordered-to-improve/

As real estate loans started to default, primarily land and construction loans to developers, problembanklist.com reports, "In a desperate attempt to raise additional capital after the FDIC cease and desist order, SunFirst entered into an arrangement with St. George businessman Jeremy Johnson in late 2009 to process online poker payments. Over the next year, SunFirst processed over $200 million for online poker operators which eventually lead to a federal indictment in April 2011 of SunFirst Vice Chairman John Campos.

"Jeremy Johnson faces criminal charges for mail fraud related to an online company he ran known as iWorks. The Federal Trade Commission alleges that Johnson defrauded iWorks customers to the tune of $275 million. An explanation from regulators on how they failed to notice SunFirst’s involvement in a criminal enterprise involving online poker payments would make interesting reading. The charges in the cease and desist order issued by the FDIC shortly before SunFirst decided to start processing online poker funds made it abundantly clear that bank management had little regard for safe and sound banking practices and regulators knew it."

http://problembanklist.com/sunfirst-bank-saint-george-utah-finally-closed-by-regulators-0429/

Poker chips are available from banks and credit cards from all over the world, including the United States, as evidenced by this web site, listing bank options:
http://www.sunpoker.com/customer_care/banking.asp

Founded March 7, 2001, the bank had 41 full time employees June 30, 2011 compared to 57 full time employees in 2007. There were two offices in Saint George and one in Hurricane.

Tier 1 risk-based capital ratio 2.68%

Charge Offs

2006 0
2007 $169,000 ($130,000 construction and land development, $31,000 individuals)
2008 $2.8 ($2.6 construction and land development, $88,000 commercial, $57,000 individuals)
2009 $5.5 ($2.7 construction/land, $1.1 commercial/ind., $298, nonfarm, $114,000 individuals)
2010 $8.6 ($6.4 construction/land, $1.3 1-4 family, $538,000 commercial, $80,000 individuals)
6/31 $1.2 ($507,000 commercial. $355,000 1-4 family, $270,000 const./land, $69,000 indivd.
9/30 $7 ($2.9 construction/land, $2.1 commercial/industrial, $1.7 1-4 family, $103,000 auto)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

(in millions, unless otherwise)

Net equity
2006:	$16.7
2007:	$23.2
2008:	$26.6
2009:	$24.9
2010:	$19.2
6/31:	$17.0
9/30	$12.7

Profit:
2006:	$2.6
2007:	$2.8
2008:	$198,000
2009:	-$5.2
2010:	-$6.0
6/30:	-$2.7
9/30:	-$7.5

Non-Current Loans:
2006:	$592,000
2007:	$5.1
2008:	$17.3
2009:	$24.6
2010:	$17.1
3/31:	$19.7

As of September 30, 2011, SunFirst Bank had approximately $198.1 million in total assets and $169.1 million in total deposits. In addition to assuming deposits of the failed bank, Cache Valley Bank agreed to purchase approximately $177.3 million of the failed bank's assets. The FDIC will retain the balance of the assets for later disposition.

The FDIC and Cache Valley Bank entered into a loss-share transaction on $128.9 million of SunFirst Bank's assets. Cache Valley Bank will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $49.7 million.

http://www.fdic.gov/news/news/press/2011/pr11177.html

 

The eight branches of Mid City Bank, Inc., Omaha, Nebraska, were closed with Purdum State Bank, Purdum, Nebraska, to assume all of the deposits. Purdum State Bank will change its name to Premier Bank.

June 30, 2011, Mid City had 46 full time employees from a high of 58 full time employees in 2007. Founded March 29, 1965 as Indian Hills Bank, the bank changed its name in 1967 to Midi City Bank; all eight offices were in Omaha, Nebraska.

Tier 1 risk-based capital ratio .068%

The FDIC shows the bank assuming Mid City Bank, Purdum State Bank, has six full time employees and net equity of $2.9 million June 30, 2011 and profit of $100,000.

Purdum State Bank is primarily the investment of the Stine family, where its chairman, Greg Stine of Omaha, said who was putting $15 million in capital into the bank, enough to support its existing loans and to allow for future expansion. He told the Omaha.com he hopes to bring in another investor to raise that to $20 million within a year.

“We're trying to make this transition as smooth as possible,” said Maher, who has spent his 20-year banking career at Omaha State Bank and until Friday was its president. “The customers will still see the same friendly faces.”
http://www.omaha.com/article/20111104/NEWS01/711049835/1004

Basically, Mid City Bank ran out of capital, as noted the net equity was $39.2 million year-end 2005, but by September 30, 2011 it was down to $298,000 after four years of losses, and charge offs primarily in commercial and industrial loans, and nonfarm nonresidential loans (businesses).

Management having eight branches in Omaha, which has a population in 2011 of 383,886 sounds not very wise, as well as the losses were in commercial development of the city and the surrounding areas.

Stine told omaha.com: ... 'substantially all' of the Mid City Bank employees will remain on the job, and he hopes to expand the bank's presence in Omaha. The office in Purdum, which is in Blaine County in north-central Nebraska, will retain the Purdum name and add “a Premier Bank.”

“Omaha's a very dynamic and diverse market,” Stine told Omaha.com. “We're excited about being able to come to Omaha and compete.”

(in millions, unless otherwise)

Net equity
2006:	$39.2
2007:	$41.3
2008:	$35.7
2009:	$28.9
2010:	$5.6
6/31:	$461,000
9/30	$298,000

Profit:
2006:	$505,000
2007:	$1.4
2008:	-$5.8
2009:	-$5.7
2010:	-$24.5
6/30:	-$6.4
9/30:	-$6.8

Non-Current Loans:
2006:	$2.9
2007:	$2.9
2008:	$2.9
2009:	$13.7
2010:	$23.1
3/31:	$6.8

Charge Offs
2006 $1.0 ($1.0) commercial and industrial loans
2007 $425,000 ($436,000 commercial and industrial loans, -$11,000 consumer)
2008 $4.6 ($4.4 commercial and industrial, $138,000 loans to individuals)
2009 $9.1 ($7.2 commercial/industrial, $1.7 nonfarm/nonresidential, $156,000 individuals)
2010 $7.2 ($7.1 commercial/industrial, $355,000 nonfarm, $241,000 multifamily)
6/31 $12.6 ($6.5 nonfarm/nonresidential, $5.1 commercial/ind., $642,000 multifamily, $144,000 consumer, $108,000 $1-4 family residential)
9/30 $12.7 (nonfarm/nonresidential increase)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of September 30, 2011, Mid City Bank, Inc. had approximately $106.1 million in total assets and $105.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Purdum State Bank agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.7 million.

http://www.fdic.gov/news/news/press/2011/pr11176.html

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

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

 

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Top Stories---October 31--November 2

Here are the top ten sorties opened by readers:

(1) LEAF Commercial Takes Over by Kit Menkin
http://leasingnews.org/archives/Nov2011/11_02.htm#leaf

(2) First American Equipment Finance Goes Against the Trend
http://leasingnews.org/archives/Nov2011/11_02.htm#trend

(3) The Problem with Accepting Late Payments by Tom McCurrin
http://leasingnews.org/archives/Nov2011/11_02.htm#problem

(4) Leasing 102 by Mr. Terry Winders, CLP
“Initial Direct Costs (IDC)”
http://leasingnews.org/archives/Oct2011/10_31.htm#idc

(5) Steve Jobs' Final Words Revealed by Biological Sister
http://www.foxnews.com/scitech/2011/10/30/steve-jobs-final-words-revealed-by-biological-sister/

(6) Top Ten Computer and iPhone Passwords
http://leasingnews.org/archives/Oct2011/10_31.htm#passwords

(7) Bank of Ozarks Joins
Companies who notify lessee in advance of lease expiration
and require their discounter to also notify lessee in advance
http://leasingnews.org/archives/Oct2011/10_31.htm#notify

(8) Continuing Good News about the Credit Business
http://leasingnews.org/archives/Nov2011/11_02.htm#news

(9) Don't Kid Yourself: You're Not Steve Jobs By Julie Steinberg
http://leasingnews.org/archives/Oct2011/10_31.htm#kid

(10) Bank Beat--Indian-American Bank Fails in Illinois by Christopher Menkin
http://leasingnews.org/archives/Oct2011/10_31.htm#bank_beat

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Accounting Up-Date
by Shawn Halladay, The Alta Group

The Financial Accounting Standards Board (FASB) and the International Account Standard Board (IASB) discussed the disclosure requirements for lessors that account for leases under the receivable and residual approach, transition requirements for sale and leaseback transactions and other transition considerations for the proposed leases guidance.

Shawn Halladay reports, "Most of it is disclosure requirements, which almost is housekeeping after the tough decisions are made. One piece of good news is that capital sale leasebacks will not have to be reevaluated as to the sale recognition conclusion previously reached, nor will the associated lease assets and liabilities have to be remeasured. This provision will remove lessee anxiety currently surrounding this product.

"On the flip side, operating sale and leasebacks will be reevaluated using the transfer of control criteria in the proposed revenue recognition standard."

Shawn Halladay, Managing Director
The Alta Group
www.thealtagroup.com
801 322 4499 direct|
801 322 5454 fax
shalladay@thealtagroup.com

John Kenny Receivables Management www.jrkrmdirect.com • End of Lease Negotiations & Enforcement • Fraud Investigation • Credit Investigations • Asset Searches • Skip-tracing • Third-party Commercial Collections The Solution to Your Credit & Accounts Receivable Needs John Kenny 315-866-1167 |  John@jkrmdirect.com

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

Leasing 102
by Mr. Terry Winders, CLP

How Much Do you Know About Leasing?

I have a few 60 question tests that I like to give to those who profess to know about leasing that if you do then getting most of the answers correct should be no problem because it is an easy test. I must tell you that some are surprised by the results.

Both legal and income tax rules are subject to change based on court cases that have helped settle some pressing questions that are not spelled out in the rules themselves. How much do you know about what are acceptable today verses yesterday?

Leasing News has a list of books on leasing, as well as does the CLP Foundation web site (1).

The CLP handbook on leasing is an excellent tool to purchase and read, as well as consider for a Christmas gift to a colleague or employee in the leasing business. It is 347 pages and convers the entire subject in a very well written form. It is also up-to-date, with new regulation brought forward from the foundation to up-date the book.

While many may not want to make the time to study to pass the test and become a Certified Leasing Professional, I do recommend that companies require employees to read a few pages each week and test them on the information and help them understand the material.

The book was created to help leasing personnel study to become a Certified Lease Professional but it contains what every leasing person should know about this industry and if you want to succeed you need to get educated.

Here is a list of the contents:

• The History of Equipment Leasing
• Classification and Terminology in Leasing
• Marketing
• Sales
• Lease vs. Buy Decision Making
• Lessor-Vendor Relationships
• Lease Pricing
  • Lease Calculations and Pricing
  • Advanced Structuring
• Credit Process & Financial Statements Leasing Law
• Lease Documentation
• Insurance for Leasing Companies
• Collections and Asset Management
• Lease Company Management
• Financial and Tax Accounting for Leases
• Sources of Financing for a Leasing Company
• Portfolio Management
• Government Leasing
• Agriculture Leasing
• Resources
  

List Price: $59.95
To Order: https://www.createspace.com/3495235/
Volume discounts may be available by contacting:
cindy@clpfoundation.org

I will be offering the start of my 2012 seminars with the first one this December, 12-14th, two and one half days; December sponsored by the Commercial National Bank, Newport Beach, California.

If you would like to sponsor a seminar for a reduced cost of attendance, please contact me at Leaseconsulting@msn.com

(1) http://www.clpfoundation.org/toolbox/library.php

http://two.leasingnews.org/Books.htm

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

He invites your questions and queries.

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

Mr. Terry Winders, CLP Anaheim, California December 12-14th Two and One Half-Day Seminar sponsored by Commerce National Bank 4040 MacArthur Blvd. Suite 100 Newport Beach CA 92660 (Orange County Airport is a half-mile away) 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 To request a complete outline contact: leaseconsulting@msn.com or for questions call 502-649-0448

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

Fernando's View
By Fernando F. Croc

A double-bill of Antonio Banderas projects finds him in art-house melodrama (“The Skin I Live In”) and children’s animation (“Puss in Boots”), while romantic comedy (“Crazy, Stupid Love”), one-of-a-kind documentaries (“Tabloid”) and classic musicals (“Astaire & Rogers Collection, Vol. 2”) await DVD watchers.

In Theaters:

The Skin I Live In (Sony Pictures Classics): Oscar-winning Spanish director Pedro Almodovar serves up a dark and unpredictable tale with this stylish combination of operatic horror and high camp melodrama. After years since their previous collaboration, the filmmaker reunites with his longtime leading man Antonio Banderas, who stars Dr. Robert Ledgard. A world-famous plastic surgeon, Ledgard is working on what is to be his ultimate project, the creation of a new brand of skin inspired by his late wife. Aided by his faithful companion Marilia (Marisa Paredes), he experiments on a young woman (Elena Anaya) who harbors a deep secret and may not really be all she seems. To say more would be to give away the twists that make Almodovar’s movie such a rich and perversely lyrical experience. With subtitles.

Puss in Boots (Paramount Pictures): Making a 180 degree turn from the adult themes of “The Skin I Live In,” Antonio Banderas delightfully provides the voice of the titular feline character in this hilarious animated feature. A bold, daring and terminally vain kitty who’s handy both with a sword and a caustic comment, Puss in Boots became one of the most beloved characters from the “Shrek” series, and here he gets his own adventure, set before he met the famous green ogre. In keeping with the “Shrek” movies, the plot includes nods to several fairy-tales (including Humpty Dumpty and the goose that lays golden eggs) and breezy jokes to go along with its lively 3-D animation. The results are an irresistible treat for family audiences.

Netflix Tip: A witty, colorful and impassioned chronicler of human desire, Pedro Almodovar has amassed one of the richest cinematic oeuvres in past decades. As a primer to his latest, “The Skin I Live In,” check out Netflix for the Spanish maverick’s earlier hits, which include “Matador” (1985), “Women on the Verge of a Nervous Breakdown” (1989), the Oscar-winning “All About My Mother” (1999), and “Bad Education” (2004).

On DVD:

Crazy, Stupid, Love (Warner Bros. Pictures): The romantic comedy genre gets a welcome shot of energy in this vivacious roundelay of love and awkwardness. The story kicks off as suburban everyman Cal (Steve Carell) finds his balanced existence suddenly rattled by his wife Emily’s (Julianne Moore) decision to get a divorce. Befuddled by his new position as Mr. Bachelor, he seeks advice from his friend Jacob (Ryan Gosling), a slick womanizer who has the challenge of molding out-of-it Cal into a successful ladies’ man. The plot may not sound exactly original, but directors Glenn Ficarra and John Requa (“I Love You Philip Morris”) and a crack ensemble cast that also includes Emma Stone and Marisa Tomei give a fresh spin to familiar jokes and situations.

Tabloid (MPI): Though he's an Oscar-winning documentarian, there's very little that's predictable or stuffy about Errol Morris' subjects or his handling of them. Case in point: Joyce McKinney, the one-of-a-kind human whirlwind at the center of his immensely entertaining new film. A former beauty queen from Wyoming who in the late 1970s became a media sensation due to her participation in a bizarre scandal involving fake identities, Mormon kidnapping and cloned puppies, the older but still indomitably vivacious McKinney she faces Morris' camera and tells her story in a myriad of cheerfully strange ways. Was she a woman driven by passion? A virtuoso storyteller weaving her own madcap adventure? A creation of a scandal-hungry culture? Without providing easy answers or mocking his subject, Morris brings us closer to her obsessions.

TCM Classic Films (Astaire and Rogers Volume Two) (Warner Bros.): With their impeccable tuxedos, satin dresses and effortless grace, Fred Astaire and Ginger Rogers seemed to embody the dreaminess of classical Hollywood in some of the most timeless musicals ever. Four of their lesser-known movies are included in this shimmering set, serving audiences the duo’s patented combination of class, humor, and lighter-than-air dance moves. Included is their first ever pairing in “Flying Down to Rio” (1933), the lush score of Rogers and Hammerstein in “Roberta” (1935), and the biopic “The Story of Vernon and Irene Castle” (1939), with the two playing the famous real-life dancers. Best of all is “Follow the Fleet” (1935), a romantic comedy that showcases the enduring, magical appeal Astaire and Rogers continue to exude for audiences.

 

 

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

Recession Odds Decreased to Lowest Level Since June

The odds of a double-dip or a new U.S. recession decreased from a high of 80 percent in June to about 20 percent in November based on increasing consumer financial confidence.

SAN FRANCISCO, Calif. – The Money Anxiety Index (www.moneyanxiety.com) continues to decline from its recent peak of 99.5 in June of this year signaling a higher level of consumer confidence in the economy. November preliminary index is at 97.6, a decrease of 1.9 index points since June, and 0.1 declines from October.

In the past fifty years, the U.S. entered into a recession whenever the Money Anxiety Index rose five consecutive months. June of 2011 was the fourth consecutive month of increasing level of financial anxiety, thus placing the odds for a recession at 80 percent. The downwards trend in the Money anxiety Index started in July, and continued through October, thus placing the probability of a double dip or a new recession at about 20 percent.

The decrease in the Money Anxiety index is reflected in the third quarter GDP figures, which increased at an annual rate of 2.5 percent, compared to an increase of 1.3 percent n the second quarter. The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, which increased 2.4 percent in the third quarter, compared with an increase of 0.7 percent in the second.

Conversely, opinion-based consumer confidence indices, such as the Thomson Reuters / University of Michigan and the Conference Board, reported decreasing levels of consumer confidence in the third quarter despite improving economic indicators. These indices measure consumers’ perception of the economy, which lags about three to four month behind economic reality. In the third quarter of this year, the Thomson Reuters / University of Michigan index declined from 71.5 in June to 59.4 in September, and the Conference Board index decreased from 52.9 to 46.4 during the same time period.

“Since 70 percent of the U.S. economy is governed by consumer spending,” said Dan Geller, Ph.D. Trend Forecaster at Money Anxiety Index, “we should always follow what people do, not what they say.”

About Money Anxiety Index
The Money Anxiety Index (MAI) measures various economic indicators and factors associated with consumers’ level of financial worry and stress. MAI, which measured the level of financial anxiety for the past 50 years, fluctuated from a high of 136.0 during the early 1980s recession, and a low of 40.3 in the mid 1960s (January 1975 = 100). The Money Anxiety Index was developed using Structural Equation Modeling (SEM) with a large sample size of monthly economic indicators ranging from 1959 to 2010.

The Money Anxiety Index (MAI) differs from other indices of consumer confidence mainly because its measurement is objective rather than subjective. MAI measures how economic indicators are impacting consumers’ behavior (objective) rather than how consumers say they feel about the economy (subjective), which is the methodology used by survey-based consumer confidence indices.

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

Cherry Hill, New Jersey -- Adopt-a-Dog

Brinnie--Brinin
Greyhound
Male
Age: 2 years old

“Brinin is such a sweet and good boy--a real 'family man'--loves to be included with his family as a part of his family. He was returned through no fault of his own--the adopter got a new position and would be travelling. Brinin is back with his foster family and happy again. This boy is one of the really great greys. He's living with greys and small dogs and likes them all.”

Foster Update 10/2011

“If you are looking for a BFF (best friend forever) then look no further. Brinnie does not want to be your pet, he wants to be your best friend and companion. He enjoys car rides and enjoys being wherever either the single adopter or family members are. He is not pushy or anything like that, he just loves to be where his mom, or dad, or any other members of the family might be. He is still quite playful and very interactive and very gentle. He enjoys walking in the park. He enjoys short runs in the yard and really loves to play with me. He has mastered both carpeted and wooden stairs. He sleeps in his man cave at night and does not mind if he has to stay in there while I run errands and cannot take him with me. Have you seen how strikingly good looking he is? What soulful eyes this boy has. Did I mention that he is cat safe too???!!!! “

Original Postings

“JD He Brinin is a very handsome boy who is friendly, calm and very sweet. He's playful with an endearing personality. Brinin walks nicely on leash. He's 2 years old…

Foster Update 8/10/2011

“Hello my name is He Brinin and I just came off the track a few days ago so I am still a little shy and reserved. I must have been around children because I like to hang around my foster mom's middle school children. I am learning all of these new things that retired racers do - like going up and down steps, how to behave in the house, and, oh yes, how to relax! I think I have mastered this already though. I have not had any potty accidents and I sleep well in my crate.”

Foster Update 8/16/2011

“Brinnie, as I like to call him, has been with us for about a week and wow what a difference a few days can make. He has found his toys and he does love to play with them. He has not shown any food, toy or sleep aggression. He is living with two children whom he does seem to enjoy being around, two small dogs, three large dogs, and a cat who he has not yet met; I think he would do best without a cat though. He does not mind being in his crate when I go out to run errands. Brinnie does have voice and will tell you if you have waited to long to feed him. He has not had any accidents in the house. He is easily correctable with a simple 'no'. He really enjoys being wherever the humans are. He seems to enjoy going for car rides and walks well on the leash. He is as sweet as can be and his happy boy personality is emerging more and more everyday. This guy would be a grey addition to any family.”

http://www.greyhoundfriendsnj.org/

application, to register:
http://www.greyhoundfriendsnj.org/user/login?refererPageID=72&
keyID=1546&referer=/forms/form_edit.phpQu8FormID=1546

Greyhound Friends of New Jersey, Inc.
PO BOX 4416
Cherry Hill NJ
08034-0669
732-356-4370

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---

Fitch Affirms International Lease Finance Corp's IDR at 'BB'; Outlook Stable
http://www.marketwatch.com/story/fitch-affirms-international-lease-finance-corps-idr-at-bb-outlook-stable-2011-11-04

GE Capital aims at leasing biz growth in India during 2012
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/ge-capital-aims-at-exponential-leasing-biz-growth-during-2012/articleshow/10631038.cms

Mortgage rates fall to 4.23%
http://www.bankrate.com/finance/news/mortgage-rates-fall-for-greek-gambit.aspx?ic_id=ts1

More research shows online video goes mainstream
http://www.rapidtvnews.com/index.php/2011110616767/more-research-shows-online-video-goes-mainstream.html

Netflix Layoffs 100, mostly Hillsboro, Oregon
http://www.homemediamagazine.com/netflix/netflix-ups-layoffs-implements-hiring-freeze-25543

 

---------------------------------------

 

Sports Briefs----

Mutai, Dado Finish Strong for New York City Marathon Victories
http://marathon.blogs.nytimes.com/2011/11/06/live-blog-follow-the-new-york-city-marathon/?hp&emc=na

Arrest warrant out for Terrell Owens
http://espn.go.com/nfl/story/_/id/7196626/arrest-warrant-issued-terrell-owens

NBA players get new offer, and deadline to take it
http://www.sacbee.com/2011/11/05/4032823/nba-owners-players-try-again-to.html

Falcons rout the hapless Colts 31-7
http://www.ajc.com/sports/atlanta-falcons/falcons-rout-the-hapless-1219040.html

Giants rally to beat Patriots
http://www.boston.com/sports/football/patriots/articles/
011/11/06/giants_rally_to_beat_patriots/?p1=News_links

Oakland Raiders blow early lead in 38-24 loss to Denver Broncos
http://www.contracostatimes.com/raiders/ci_19278105

Chargers drop third straight as rally falls short
http://www.sandiegouniontribune.com/news/2011/nov/06/chargers-packers-duel-rain/

49ers win 6th straight, 19-11 over Redskins
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/06/SPMF1LRAQJ.DTL

 

 

“Gimme that Wine”

Senators Propose Allowing Postal Service to Ship Wine, Beer as Part of Reform Plan
http://www.foxnews.com/politics/2011/11/02/senators-propose-allowing-postal-service-to-ship-wine-beer-as-part-reform-plan/

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

      1637 - Anne Hutchinson, the first female religious leader in the American colonies, was banished from the Massachusetts Bay Colony for heresy, preaching that fait alone was sufficient for salvation, a belief that contradicted Puritan orthodoxy. She was condemned by an ecclesiastical synod at Newton, Mass, and fled to Rhode Island. She and her family were later massacred by Indians in
the wild, “untamed” part of New England.
http://www.annehutchinson.com/
http://www.forerunner.com/forerunner/X0193_Anne_Hutchinson.html
http://www.buy.com/retail/product.asp?sku=33955947
    1700-The population of the colonies was sparsely scattered over the large area. Below the Delaware River an isolated farm was the usual settlement, save for Charleston, which had about 250 families. Philadelphia had approximately 700 houses. New York about 5000 inhabitants. Newport less than 200, and Boston, the largest city, about 7000. There were approximately 275,000 inhabitants n the colonies. In 1701, the naming of streets was authorized by the Boston Town Meeting. Previously, only Newport and Philadelphia had officially assigned street names. At the end of seven years 109 names were submitted for ratification.
    1805 - Lewis and Clark reached the Pacific Ocean. Their survival over the ‘04-’05 winter was attributed to the help of the Nez Perce Indians.
    1811 – William Henry Harrison, commander of 800 U.S. soldiers fighting marauding Indians organized by Tecumseh, beat off a surprise attack led by Tecumseh’s brother Tenskwatawa, called the Prophet, at Tippecannoe River in north central Indiana. The toll of U.S. soldiers was 61 dead, 127 wounded. Subsequently, Harrison’s troops destroyed the Indian confederacy. Tecumseh and many of his followers crossed over into Canada and joined British forces in the War of 1812.
The fame for this feat later helps him gain the U.S. presidency.
    1814 - Andrew Jackson attacked and captured Pensacola, Florida, without authorization from his superiors. His aim was to end a threat posed by a small British garrison that had caused trouble in the area. Unknown to Jackson, Major General Sir Edward Pakenham had prepared 3,000 soldiers in Jamaica and was sailing to New Orleans to open a British offensive in the South. Pakenham’s army was supplemented by other soldiers brought from England. The opposing armies met in the famed January 1815 Battle of New Orleans.
    1837 - United States abolitionist Elijah Lovejoy was attacked and killed by a pro- slavery mob at his printing works in Alton, Illinois.
http://memory.loc.gov/ammem/today/nov07.html
    1845-The first presidential voting nationwide took place. January 23,1845, “an act to establish a uniform time for holding elections for electors of President and Vice President in all the states of the Union.” The day selected for voting was “the Tuesday next after the first Monday in the month of November of the year in which they are to be appointed.” Zachary Taylor was elected president of the United States. Millard Fillmore was elected vice president. The electoral vote was Taylor, 163, Lewis Cass, Democratic candidate, 127. The popular vote was Taylor, 1,370,101: Cass, 1,220,544: Martin Van Buren, Free-Soil and Barnburners candidate, 291,263. Taylor, the second and last Whig president, died after 16 months in office. He died of cholera at the age of 55. Vice-President Millard Fillmore was sworn in on July 10,1850, as the 13th president of the United States.
    1847- Lotta Crabtree birthday, taught by the legendary Lola Montez, she was the rage of the English and American stage, leaving a fortune of $4 million. Lotta's Fountain, an ornate drinking fountain which miraculously survived the 1906 San Francisco earthquake, still stands at Market Street near Kearny; her gift to a city she always loved and returned to frequently.
http://www.sfmuseum.org/bio/lotta.html
http://www.standingstones.com/crabtree.html
http://www.ncgold.com/History/LottaCrabtree/lotta.html
    1874 - The Republican Party elephant was born on this date. It was created by Thomas Nast's political cartoon in Harper's Weekly, attacking a possible third term for Republican President Ulysses S. Grant. 
    1876 - Albert H. Hook of New York City patented the cigarette manufacturing machine.
    1876-The presidential election gave Samuel J. Tilden, the Democratic candidate, a popular vote plurality of 250,000, but Republicans refused to concede on the grounds that returns from Florida, Louisiana, South Carolina, and Oregon were in dispute. Hayes needed the electoral votes of those states to win. On December 6 two different sets of electoral returns were reported from the four states. The electoral vote ultimately was determined by a special 15—member electoral commission. The nation had never faced a dispute over the results of a presidential election. The commission was divided by party lines, and deals were made it was said, as Rutherford B. Hayes, received 185 electoral votes to Tilden’s 184. Historians’ state
Hayes made a bargain with Southern Democrats. It is recorded the new president showed a conciliatory attitude toward the South: the last federal troops were withdrawn and there was no further effort to protect the rights of blacks. Reconstruction was over. 
    1885-At 9:30 AM the last spike was driven at Craigellachie, British Columbia, completing the Canadian Pacific Railway’s 2,980-mile transcontinental railroad track between Montreal, Quebec, in the east and Port Moody, British Columbia, in the west.
    1889- Montana becomes the 41st state.
    1893 - The state of Colorado granted women residents the right to vote.
    1916 - Woodrow Wilson, 28th U.S. President, was reelected. The outcome of the election was one of the few in U.S. history that hinged on foreign affairs. Europe was fighting a world war, and so far, President Wilson had kept the U.S. neutral. Running with the slogan, "He Kept Us Out of War," Wilson was re-elected by a narrow margin. The very next year, Wilson’s neutrality in the European war ended. The Germans refused to curtail their submarine warfare after 120 Americans were killed aboard the British liner, Lusitania. Congress voted overwhelmingly to go to war and Wilson proclaimed American entrance into World War I a crusade to make the world “safe for democracy.” Thomas R. Marshall was reelected vice president. The election was so close that the outcome was uncertain for three days, when it became clear that Wilson had carried California, but by fewer than 4000 votes. The electoral vote was Wilson, 277: Charles Evans Hughes, Republican candidate, 254. The popular vote was Wilson, 9,128,837: Hughes 8,536,380. In congressional elections the Democrats lost three seats in the Senate but maintained a 53-42 majority, with one seat going to a minor party. In the House the Democrats again narrowed their majority over the Republicans, 216-210, with six seats held by minor parties.
    1917- Bassist Howard Rumsey born, Brawley, CA.
http://members.tripod.com/~hardbop/rumsey.html
    1918-Birthday of evangelist Billy Graham
http://www.billygraham.org/mediaRelations/bios.asp?p=1
    1922-New Orleans trumpet player Al Hirt birthdayhttp://www.epluri.com/NOTfolder/Acts/AlHirtFolder/AlHirtSalute.html
    1929 - The Museum of Modern Art in New York City was opened to the public. 
    1930 - Wayne King recorded what would become his theme song, "The Waltz You Save for Me", on Victor records. 
    1932 - CBS radio first aired "Buck Rogers in the 25th Century". Between 1932 to 1947, Matt Crowley, Curtis Arnall, Carl Frank and John Larkin played Buck over the years.
    1937- Mary Travers birthday, author, composer, singer, of Peter, Paul, and Mary fame.
    1940-Duke Ellington records at Crystal Ballroom, Fargo, ND.
    1940 - 'Galloping Gertie' Bridge at Tacoma, WA collapsed in winds of only gale force, resulting in a $6 million loss. The bridge opened 4 weeks early. The winds caused the evenly spaced spans of the bridge to vibrate until the central one finally collapsed. From that time on, bridges were constructed with spans of varying length.
    1943-Folk singer Joni Mitchell born Fort Macleod, Alberta, Canada
    1943 - Early snowstorm from South Dakota to Minnesota and Wisconsin. 22 inches fell at Faribault and Marshall, MN, 20 inches at Redwood Falls, MN and 10.1 inches at Minneapolis, MN. Snow drifts 15 feet high were reported in Cottonwood County. Up to 2 feet of snow fell in eastern South Dakota smothering a million thanksgiving turkeys
    1943--THOMAS, HERBERT JOSEPH Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps Reserve. Born: 8 February 1918, Columbus, Ohio. Accredited to: West Virginia. Citation: For extraordinary heroism and conspicuous gallantry above and beyond the call of duty while serving with the 3d Marines, 3d Marine Division, in action against enemy Japanese forces during the battle at the Koromokina River, Bougainville Islands, Solomon Islands, on 7 November 1943. Although several of his men were struck by enemy bullets as he led his squad through dense jungle undergrowth in the face of severe hostile machinegun fire, Sgt. Thomas and his group fearlessly pressed forward into the center of the Japanese position and destroyed the crews of 2 machineguns by accurate rifle fire and grenades. Discovering a third gun more difficult to approach, he carefully placed his men closely around him in strategic positions from which they were to charge after he had thrown a grenade into the emplacement. When the grenade struck vines and fell back into the midst of the group, Sgt. Thomas deliberately flung himself upon it to smother the explosion, valiantly sacrificing his life for his comrades. Inspired by his selfless action, his men unhesitatingly charged the enemy machinegun and, with fierce determination, killed the crew and several other nearby-defenders. The splendid initiative and extremely heroic conduct of Sgt. Thomas in carrying out his prompt decision with full knowledge of his fate reflect great credit upon himself and the U.S. Naval Service. He gallantly gave his life for his country.
    1944--NISHIMOTO, JOE M. Medal of Honor
Private First Class Joe M. Nishimoto distinguished himself by extraordinary heroism in action on 7 November 1944, near La Houssiere, France. After three days of unsuccessful attempts by his company to dislodge the enemy from a strongly defended ridge, Private First Class Nishimoto, as acting squad leader, boldly crawled forward through a heavily mined and booby-trapped area. Spotting a machine gun nest, he hurled a grenade and destroyed the emplacement. Then, circling to the rear of another machine gun position, he fired his submachine gun at point-blank range, killing one gunner and wounding another. Pursuing two enemy riflemen, Private First Class Nishimoto killed one, while the other hastily retreated. Continuing his determined assault, he drove another machine gun crew from its position. The enemy, with their key strong points taken, was forced to withdraw from this sector. Private First Class Nishimoto’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1944--STRYKER, ROBERT F. Medal of Honor
Rank and organization: Specialist Fourth Class, U.S. Army, Company C, 1st Battalion, 26th Infantry, 1st Infantry Division. Place and date: Near Loc Ninh, Republic of Vietnam, 7 November 1967. Entered service at: Throop, N.Y. Born: 9 November 1944, Auburn, N.Y. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. Sp4c. Stryker, U.S. Army, distinguished himself while serving with Company C. Sp4c. Stryker was serving as a grenadier in a multicompany reconnaissance in force near Loc Ninh. As his unit moved through the dense underbrush, it was suddenly met with a hail of rocket, automatic weapons and small arms fire from enemy forces concealed in fortified bunkers and in the surrounding trees. Reacting quickly, Sp4c. Stryker fired into the enemy positions with his grenade launcher. During the devastating exchange of fire, Sp4c. Stryker detected enemy elements attempting to encircle his company and isolate it from the main body of the friendly force. Undaunted by the enemy machinegun and small-arms fire, Sp4c. Stryker repeatedly fired grenades into the trees, killing enemy snipers and enabling his comrades to sever the attempted encirclement. As the battle continued, Sp4c. Stryker observed several wounded members of his squad in the killing zone of an enemy claymore mine. With complete disregard for his safety, he threw himself upon the mine as it was detonated. He was mortally wounded as his body absorbed the blast and shielded his comrades from the explosion. His unselfish actions were responsible for saving the lives of at least 6 of his fellow soldiers. Sp4c. Stryker's great personal bravery was in keeping with the highest traditions of the military service and reflects great credit upon himself, his unit, and the U.S. Army.
    1944- President Roosevelt won an unprecedented fourth term in office, defeating Thomas E. Dewey. Roosevelt only lived long enough to serve 53 days of this fourth term. Harry S. Truman was elected vice-president. The electoral vote was Roosevelt, 432: Gov. Thomas E. Dewey, Republican, 99. The popular vote was Roosevelt 25,602,504, Dewey 22,006,285. In congressional elections the Democrats lost two senate seats but held a 56-38 majority. In the House, they gained 24 seats for a 242-190 lead, with two seats held by minor parties.
    1944---*NISHIMOTO, JOE M. Medal of Honor
Private First Class Joe M. Nishimoto distinguished himself by extraordinary heroism in action on 7 November 1944, near La Houssiere, France. After three days of unsuccessful attempts by his company to dislodge the enemy from a strongly defended ridge, Private First Class Nishimoto, as acting squad leader, boldly crawled forward through a heavily mined and booby-trapped area. Spotting a machine gun nest, he hurled a grenade and destroyed the emplacement. Then, circling to the rear of another machine gun position, he fired his submachine gun at point-blank range, killing one gunner and wounding another. Pursuing two enemy riflemen, Private First Class Nishimoto killed one, while the other hastily retreated. Continuing his determined assault, he drove another machine gun crew from its position. The enemy, with their key strong points taken, were forced to withdraw from this sector. Private First Class Nishimoto’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1946—Top Hits
Five Minutes More - Frank Sinatra
South America, Take It Away - Bing Crosby & The Andrews Sisters
You Keep Coming Back like a Song - Dinah Shore
Divorce Me C.O.D. - Merle Travis
    1950- Voters in the United States Hawaii Territory ratified a state constitution, a major step in becoming the 50th state on August 21, 1959.
(Lower half: http://memory.loc.gov/ammem/today/nov07.html)
    1951--- Frank Sinatra marries his second wife, actress Ava Gardner. The marriage, her third, lasts six years and is credited for moving Sinatra into his "mature" phase as a singer, with Nelson Riddle stating: "It was Ava who did that, who taught him how to sing a torch song. That's how he learned. She was the greatest love of his life and he lost her."
    1952-- 1952---Birthday of American Composer Ken Hedgecock, Montcello, AR
    1954- “Face the Nation” premiered on TV. The CBS counterpart to NBC’s “Meet the Press,” this show employed a similar format: panelists interviewed a well-known guest. In 1983 the panel was changed to include experts in addition to journalists when Lesley Stahl succeeded George Herman as moderator. Though usually produced at Washington, DC, the show occasionally interviewed people elsewhere (such as Khrushchev in Moscow in 1957).
    1962- Richard M. Nixon, having been narrowly defeated in his bid for the presidency by John F. Kennedy in the 1960 election, returned to politics two years later as a candidate for governor of California in the election of Nov 6, 1962. Defeated again (this time by incumbent governor Edmund G. Brown, who built the public university and college system in California), Nixon held his “last” press conference with assembled reporters in Los Angeles at mid-morning the next day at which he said: “. Just think how much you’re going to be missing. You won’t have Nixon to kick around any more, because, gentlemen, this is my last press conference.’ 
    1954—Top Hits
I Need You Now - Eddie Fisher
This Ole House - Rosemary Clooney
Papa Loves Mambo - Perry Como
More and More - Webb Pierce
    1956 - Elvis Presley hit the charts with "Love Me", the first million-seller to chart without being a single. It was an EP (extended play) 45 rpm, with three other songs: "Rip It Up", "Paralyzed" and "When My Blue Moon Turns to Gold Again" all on RCA Victor.
    1957 - The final report from a special committee called by President Dwight D. Eisenhower to review the nation's defense readiness indicates that the United States is falling far behind the Soviets in missile capabilities, and urges a vigorous campaign to build fallout shelters to protect American citizens.
    1959-- Smokey Robinson marries Claudette Rogers, still a member of the group and the eventual inspiration for his song "My Girl," made famous by the Temptations. The two would divorce in 1985.     1960--- Elvis Presley "Are You Lonesome To-night?" is released this day.
    1962—Top Hits
He’s a Rebel - The Crystals
Only Love Can Break a Heart - Gene Pitney
All Alone Am I - Brenda Lee
Mama Sang a Song - Bill Anderson
    1963 - New York Yankee Elston Howard, was named the American League’s Most Valuable Player making him the first black player to receive the award.
    1964-The Braves, for the second time in eleven years, receive permission to shift their franchise to another city. Hank Aaron and company will move from Milwaukee to Atlanta after the 1965 season.
    1964-The Marvelettes' "Too Many Fish in the Sea" enters the Billboard Hot 100 where it will reach #25. The song will be the fifth of the group's ten US Top 40 Pop hits.
    1964-- Barbra Streisand's LP People hits #1
    1964 - The latest U.S. intelligence analysis claims that Communist forces in South Vietnam now include about 30,000 professional full-time soldiers, many of whom are North Vietnamese. Before this, it was largely reported that the war was merely an internal insurgent movement in South Vietnam opposed to the government in Saigon. This information discredited that theory and indicated that the situation involves North and South Vietnam. In Saigon, the South Vietnamese government banned the sale of the current issue of Newsweek because it carried a photograph showing a Viet Cong prisoner being tortured by South Vietnamese army personnel.
    1967- The first mayor of a major city who was African-America was Carl Stokes, a Democrat, elected this day by the citizens of Cleveland, OH.
    1967-- The Beatles record "Magical Mystery Tour"
    1969-- Having tracked down Paul and wife Linda at their farm in Glasgow, Scotland, to disprove the rumors of his death, Paul is the featured cover story of this week's edition of Life magazine, which carries the headline "Paul Is Still With Us." In the interview, Paul debunks several "clues" and adds: "Perhaps the rumor started because I haven't been much in the press lately. I have done enough press for a lifetime, and I don't have anything to say these days. I am happy to be with my family and I will work when I work. I was switched on for ten years and I never switched off. Now I am switching off whenever I can. I would rather be a little less famous these days."
    1970—Top Hits
I’ll Be There - The Jackson 5
We’ve Only Just Begun - Carpenters
Fire and Rain - James Taylor
I Can’t Believe That You’ve Stopped Loving Me - Charley Pride
    1972 - United States President Richard Nixon was re-elected for a second term, in the greatest Republican landslide, defeating Democrat George McGovern. He became the first president to resign office. Spiro T. Agnew was reelected vice president. The electoral vote was Nixon, 521: Sen. George S. McGovern, Democrat, 17. The popular vote was Nixon 45,767,218: McGovern 28,357,668. The Democrats picked up two Senate seats for a 57-43 majority. The Republicans gained 13 seats in the House, but the Democrats still led 255-179, with one seat going to an independent.
    1973 - New Jersey became the first state in the United States that allowed girls to play on Little League baseball teams.
    1976 - Gone With the Wind was aired (over two nights) on NBC-TV. The showing was the highest-rated TV show in history. 65 percent of all viewers turned on their sets to watch Scarlet O’Hara and Rhett Butler.
    1976 - No. 1 Billboard Pop Hit: ``Tonight's the Night (Gonna Be Alright),'' Rod Stewart.
    1978—Top Hits
You Needed Me - Anne Murray
MacArthur Park - Donna Summer
Double Vision - Foreigner
Sleeping Single in a Double Bed - Barbara Mandrell
    1979 - The Rose, starring Bette Midler, got star treatment with a world premiere in Los Angeles. The movie was modeled after the life of Janis Joplin.
    1979 - No. 1 Billboard Pop Hit: ``Pop Muzik,'' M. The performer's real name is Robin Scott. This is his only song to make the Hot 100.
    1981- “Private Eyes" by Daryl Hall & John Oates topped the charts and stayed there for 2 weeks.
    1985- Former middleweight boxer Rubin “Hurricane” Carter was released from Rahway (NY) State Prison after serving 19 years for a triple murder committed in a Paterson, NJ, bar in 1966. US District Court Judge J. Lee Sorokin ruled that prosecution had violated the civil rights of Carter and a codefendant during their trials in 1967 and 1976. Denzel Washington starred in a movie about his life.
    1986 - Temperatures reached a daily record 86 at New Orleans, LA. It equaled the highest ever for November
    1986 - The longest high school football winning streak to date ended. Canyon High, of Canyon Country, California, lost to Antelope Valley High 21-20. Canyon High racked up 46 consecutive wins before this.
    1986—Top Hits
True Colors - Cyndi Lauper
Typical Male - Tina Turner
I Didn’t Mean to Turn You On - Robert Palmer
It’ll Be Me – Exile
    1986-- Willie Nelson guest stars as a corrupt cop on tonight's "El Viejo" episode of NBC-TV's Miami Vice.
     1987-A sixteen year old singer named Tiffany had the top tune in the US with a cover version of Tommy James' 1967 hit, "I Think We're Alone Now". His rendition stalled at number four. Tiffany became the youngest act to score a US #1 since a 14-year-old Michael Jackson with did it with "Ben" in 1972.
    1987-I Think We're Alone Now" by Tiffany topped the charts and stayed there for 2 weeks.
    1987 - Bruce Springsteen’s "Tunnel of Love" was the #1 album in the U.S. The rest of the top-five for the week: 2)-"Bad" (Michael Jackson); 3)-"Dirty Dancing" (soundtrack); 4)-"Whitesnake" (Whitesnake); 5)-"A Memory Lapse of Reason" (Pink Floyd).
    1989-L. Douglas Wilder was elected governor of Virginia, becoming the first elected black governor in US history. Wilder had previously served as lieutenant governor of Virginia.
    1989 - Judge Douglas H. Ginsburg asked President Reagan to withdraw his nomination to the United States Supreme Court, citing the clamor that arose over Ginsburg's admission that he had smoked marijuana on occasion. President Roosevelt won an unprecedented fourth term in office, defeating Thomas E. Dewey. Roosevelt only lived long enough to serve 53 days of this fourth term.
    1989- The first Mayor of New York City was African-America was David N. Dinkins, 63, the Manhattan borough president, who was elected this day as a Democrat. He served one term. He was defeated in his 1993 bid for reelection by Republican candidate Rudolph Giuliani, whom he had beaten in 1989.
    1989 - Shortly after daybreak, strong thunderstorms developed in an east-west band across New Orleans and southeastern LA. Rains of 8 to 12 inches deluged a 5 county area from 9 am and 6 pm. The two-day total ending 7 am on the 8th ranged up to 19.78 inches between Lake Lexy and Lake Borgne. 6000 homes reported water damage. The rainfall of 19.81 inches at New Orleans for the month was a record for any month.
    1991- Ervin “Magic”Johnson of the Los Angeles Lakers retires from basketball after announcing that he had tested positive for HIV. Despite his retirement, Johnson played in the 1992 NBA All-Star game and in the 1992 Olympics as a member of the first US Dream Team. He coached the Lakers for part of the 1993-94 season and played part of the 1995-96 season before retiring again.
    1994 - "The Electrical Engineering Times" ran a cover story about flaws in Intel’s Pentium computer chip. The bug, an obscure flaw that caused extremely rare computation errors when performing certain types of mathematical calculations, eventually caused Intel to replace any Pentium processor affected by the flaw, regardless of whether the user was a mathematician or not. Intel took a $475 million charge against earnings for the quarter to cover the expense of replacing all of those chips.
    1995 — The Carolina Panthers win an expansion record fourth game in a row, defeating the San Francisco 49ers 13-7 at 3Com Park. It is the first time in league history that an expansion team defeats the defending world champion.
    1995-- The Captain (Daryl Dragon) and (Toni) Tennille renew their vows in Virginia City, NV on the occasion of their 20th anniversary.
    1998 – Mayor Willie Brown was hit with 3 pastry pies by the Biotic Baking Brigade in protest for "skyrocketing evictions" and his "collusion with big business to perform an economic cleansing of SF." In Feb 1999 Gerard Livernois, Rahula Janowski and Justin Gross were sentenced to 6 months in County Jail for battery after the 3 refused to accept 3 years probation.
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     2003-- In a desperate effort to reassure visitors that the SARS outbreak is no threat, Hong Kong officials invite the Rolling Stones, among others, to play a massive concert in the city. The total cost for appearance fees tops $100 million.
    2006-- Orleans lead singer John Hall is elected to the US House of Representatives from his home state of New York