Monday, November 9, 2015
Today's Equipment Leasing Headlines
Why Every Broker Needs to be Licensed
in the State of California
By Tom McCurnin, Leasing News Legal Editor
Top Stories November 2 - November 6
(Opened Most by Readers)
Position Wanted---Risk Management
Seeking New Opportunities
“Thinking about Leaving”
Career Crossroad---By Emily Fitzpatrick/RII
Leasing News #102 by Mr. Terry Winders, CLFP
Personal Guarantees – Co-Lessee
FinTech #102 by Charles Anderson
Unicorns in Silicon Valley
National Wreaths Across America Day
Saturday, December 12, 2015
Best Index for Consumer Spending for Christmas
Best Recession to Recovery
Chicago, Illinois Adopt-a-Dog
Leasing News Classified Ads
News Briefs ---
Ex-TierOne Bank CEO Guilty on 12 Charges
Nebraska's Largest-ever Bank Failure-70 Branches
Attorney Finds 33,000 Northern Leasing Lawsuits
Legal Experts Say the Business are Victims of a scam
Berkshire Discloses $1 Billion Price Tag
for GE Railroad Assets
20 Richest Cities in America
San Jose, California #1
Puerto Rico Government Development Bank
at Risk of Receivership
Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
www.leasingcomplaints.com (Be Careful of Doing Business)
Leasing News Icon for Android Mobile Device
You May have Missed---
SparkPeople--Live Healthier and Longer
California Nuts Brief---
"Gimme that Wine"
This Day in American History
Weather, USA or specific area
######## surrounding the article denotes it is a “press release”
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Why Every Broker Needs to be Licensed
in the State of California
By Tom McCurnin
Leasing News Legal Editor
While SB197 Ostensibly Allows Funders to Pay Unlicensed Brokers,
It Won’t Happen
While I’ve previously written about SB197 and the new “exception” to allow licensed Financial Lenders to pay unlicensed brokers, no funder will ever avail itself of this exception and will probably insist on all brokers, nationally, to obtain California licenses. Sounds extreme, doesn’t it? That’s why I was against SB197, but since it has been foisted on us, let’s focus on complying with the law.
Why Funders Won’t Use the Exception
The exception now embodied in California Financial Code § 22602 (a) allows funders to pay unlicensed brokers only if certain things happen both before and after the loan. Those conditions will be too much for most funders:
• First, the lender must satisfy itself that the borrower is a commercial entity. Normally, this would already accomplished by underwriting, but the Financial Code section goes beyond the obvious and requires the funder to obtain articles of incorporation, a business license and/or bank account statements showing the deposit of business income. That’s a lot of extra work.
• Second, the funder must satisfy itself that the borrower has the financial wherewithal to repay the loan, again by obtaining financial statements, bank statements or a business plan. Again, that’s a lot of work.
• Third, the funder must notify the borrower that the loan is being brokered by a broker and the funder will be paying a commission, in specific type size. Again, that is not normally done.
• Fourth, the broker cannot take financials, negotiate the deal, or communicate credit decisions. In essence, the broker is merely a referral source. How many brokers want to restrict that activity? None, that I know of.
• Fifth, after the loan is made, the funder must report the commissions paid to the unlicensed lender in its annual report.
So for these reasons, if you are a broker, you should expect your funding source to require you to be licensed.
If the reader is a funder, and services California borrowers and is therefore licensed, you will be violating the law if you pay commissions to an unlicensed broker. None of the above restrictions apply if the funder uses a licensed broker, so the choice is an easy one for funders. To further emphasize compliance, the sanctions are now statutory and can include fines (per violation, up to $25,000), class action suits, cease and desist orders, and of course, outright suspension or revocation of the license. Is there a lender out there that really wants to risk stirring up the California Department of Oversight?
The bottom line is that for funders, insist that your brokers are licensed. For brokers, expect to be required to be licensed, or lose that business.
Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.
Barton, Klugman & Oetting
350 South Grand Ave.
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Visit our web site at www.bkolaw.com
Previous Tom McCurnin Articles:
Previous Tom McCurnin Articles:
Top Stories November 2-November 6
(Opened Most by Readers)
(1) Marlin Cites Third Quarter Net and Originations
Announces Thrust into Commercial Truck and Specialty Vehicles
(2) Correction: Alternate Finance: Friend or Foe
to the Bank, Finance, and Leasing Industry
(3) Alternate Financing: Friend or Foe to the Bank, Finance, and Leasing Industry?
by Christopher Menkin
(4) RBC Completes Acquisition of City National
Parent of First American Equipment Finance
(5) New Hires---Promotions in the Leasing Business and Related Industries
(6) SB 197 and California Lender's License Forum at NAELB November 13 Regional Meeting
(7) Leasing 102 by Mr. Terry Winders, CLFP
(8) Opportunity Fund--Major Backer of CA SB 197
"Working Capital for Working People" by Christopher Menkin
(9) ELFA and Attorney Committee on CA SB 197
Dialogue with California State Commissioner
(Tie) (10) Are You Ready for NACHA’s Same Day ACH Plan?
by Tom McCurnin, Leasing News Legal Editor
(Tie) (10) Credit/Collections #102 by Ben Carlile
Performance Metrics for Credit Analysts
Position Wanted---Risk Management
Seeking New Opportunities
Each Week Leasing News is pleased, as a service to its readership, to offer completely free ads placed by candidates for jobs in the industry. These ads also can be accessed directly on the website at:
Each ad is limited to (100) words and ads repeat for up to 6 months unless the candidate tells us to stop. Your submissions should be received here by the end of each week.
Please encourage friends and colleagues to take advantage of this service, including recent graduates and others interested in leasing and related careers.
(Chicago Based) Highly knowledgeable and analytical Equipment Leasing Executive; leveraging 25 years in Portfolio Management, Operations, Credit, and Collections within Banking environment and Commercial Equipment Leasing Industry; proven track record, developing/implementing strategies, sound operational excellence and process improvement, while maximizing revenues and positioning organizations for greater success. email@example.com
Leasing Industry Help Wanted
“Thinking about Leaving”
Career Crossroad---By Emily Fitzpatrick/RII
Question: I am contemplating exploring new job opportunities, but my employer has treated me well and I do enjoy working with my colleagues; however, I do think it is time to move on. What are your thoughts?
Answer: Making the decision to potentially leave your current employer is never an easy task. Take stock of your goals and objectives in seeking new employment. Making a move should NEVER JUST be about money (if you are successful, eventually the money will come) * …
Are you being appreciated, recognized and heard? If you are looking to move up the Career Ladder, is there a clear cut path for advancement? You must determine if your “needs” / goals are being met AND if not, voice your concerns.
If your employer does not address these issues or is not able to meet your objectives, it may be a good idea to consider exploring other career opportunities.
*If your employer is late on commission payouts OR any type of compensation - RUN.
Recruiters International, Inc.
Invite me to Connect on LinkedIn
Also follow us on Twitter #RIIINFO
Career Crossroads Previous Columns
(Terry retired January 1, 2015. To honor him and his many years of writing for readers of Leasing News, is repeating several of his columns that are still meaningful today. Here is November 20, 2006.)
Personal Guarantees – Co-Lessee
One of the hardest requirements for lease salespersons to deal with is requesting personal guarantees. Usually, but not always, it is because you need to add additional strength to the credit decision. On some occasions, it is because the language it a lease agreement does not allow for additional collateral, down payments, or loan covenants and you need additional protection. This is especially true in companies with a limited or small group of owners. If ownership is vested in a small group, they have the ability to make all kinds of decisions that may leave you holding the bag if business begins to go south.
One of the most effective ways a lease has to compete with loans, that have the ability to require down payments or other credit enhancements, is to request a personal guarantee.
This guarantee allows you to litigate the individual in addition to the business. This puts all the guarantors’ personal assets at risk to cover any short fall after the equipment has been repossessed and sold. However, understanding the requirements of each State is important because some States require you to complete litigation against the company prior to requiring the guarantor to step up to the plate. In these States, the use of “Co- Lessee” is preferable, over a guarantor, so you can request past due payments and shortfalls immediately.
Requesting a guarantee usually sounds like you do not believe the business can live up to the agreement and some lessees take offence to the request so the approach is very critical. One way is to explain that you want them to have complete freedom to manage their business assets without interference so if they give you a guarantee, they can move assets and cash in any manner they wish.
Most loans require loan covenants or indentures in companies with tight cash or limited ownership. This puts a lot of stress on the company that you can relieve with a personal guarantee. Finally, if you get into a corner, ask them if they don’t have enough confidence in their company to personally guarantee the transaction, why should we?
Previous #102 Columns:
Unicorns in Silicon Valley
There are unicorns on the loose in Silicon Valley. Yes, you read that correctly – unicorns.
There are not just a handful of them either; CB Insights (a leader in startup analytics and research) reports 141 Unicorns to date, with their real-time unicorn tracker. And the unicorn frenzy doesn’t stop there. This past August, they predicted 50 unicorns will be born within the next year (8 of the 50 born so far).
But before I continue, I should explain – we’re clearly not talking about mythical creatures. A “unicorn” in the FinTech sense is any Silicon Valley start-up valued at $1 billion by private or public markets. Aileen Lee first coined the term in 2013, to describe what she saw as a regular occurrence in the market after major technological developments. While at first researchers noticed unicorns steadily appear in the market (about 4 per year in the past decade), this last year has seen a staggering 115% increase in membership to the unicorn club.
click for larger view
Why is this important for FinTech, and especially for commercial finance?
FinTech lies at the heart of this newfound unicorn frenzy for several reasons. For starters, FinTech (specifically, B2B FinTech) generates the most revenue. On average, enterprise-oriented unicorns deliver more value per private dollar invested than their consumer-oriented counterparts. In addition, FinTech makes up a significant number of the unicorns born in Silicon Valley. Depending on how broadly you define a “FinTech company” (do we include real estate, payments, and credit reports?) there are anywhere from 14 to 32 FinTech Unicorns to date. FinTech unicorns are arguably the stars of the Silicon Valley boom.
And more importantly to commercial finance and leasing, several big-name alternative lenders lead the unicorn stampede. Many of us have been brokering to or competing with these companies for years, but they have only recently passed the billion-dollar valuation mark. Industry giants include OnDeck Capital (Unicorn Club member circa Dec 2014) and CAN Capital (unicorn hopeful). Fresh faces like Lending Club (Dec 2014 member), Funding Circle (April 2015) and Kabbage (Oct 2015) have added competition to the playing field.
There is no doubt that these FinTech unicorns have redefined the leasing and finance industry – for better or for worse. For that reason alone these companies deserve special attention – but we can also take several key lessons from the birth and growth of these FinTech unicorns.
Through historical analysis, we’ve learned a lot about key factors leading to huge FinTech success. Historically the best years to start a company were 2007 and 2009 when 45% of our current unicorns began. During that time, lenders took advantage of new tech platforms (the launch of the iPhone in 2007, arguably the birth of mobile web access) and a sustained economic downturn, providing a perfect setting for LendingClub, OnDeck and CAN Capital to carve their piece in the market. And although the young, genius college dropout is the stereotype CEO, companies were generally established by well-educated, experienced teams with at least one technical cofounder. What does this mean for you and your business? Perhaps adding a technical element to your ops team – a consultant or programmer – can drive your company toward further FinTech success. And be sure to take advantage of the economic playing field you’re in – subprime lending seems the target audience today.
Finally, these companies have been able to do a lot more with a lot less people – and still make a lot more money. Because technology has allowed these alternative lenders to automate the brunt of the lending process, optimizing cost structures. And with risk-adjusted returns anywhere from 5-12%, these online platforms provide increased returns than you would find with traditional A-Paper lending. Let’s take a page from the alternative lender’s book, and strive to innovate the equipment leasing process in ways that cut costs and generate more revenue.
Hire the younger people and learn from them, that’s my best advice.
Listen to them. If you don’t have an intern program, get one immediately. Look not at what they have done, but what they can do!
CEO – IMCA Capital, Enverto Investment Group, Express-Tech
National Wreaths Across America Day
Saturday, December 12, 2015
Help to Remember and Honor our veterans buried at Arlington Cemetery by going to the web site mentioned below and sponsoring a wreath or two. The cost is only $15 per wreath, a small price to honor and remember those who have given us our freedoms with their sacrifices. WAA receives no government funds and must rely on donations and wreath sponsorships to carry out its mission to Remember, Honor and Teach. On December 12, 2015 volunteers from around the world will lay a wreath on the grave of a fallen soldier.
To order a wreath and for more information on this day please visit www.wreathsacrossamerica.org
Arlington Wreath's Facebook pages www.facebook.com/ArlingtonWreaths and www.facebook.com/WAAHQ please check out the "Event" tab on these links later in the year for all the details.
*Deadline for donations is November 30, 2015
##### Press Release ############################
Best Index for Consumer Spending for Christmas
Best Recession to Recovery
It took 8 years for the Money Anxiety Index to complete a full cycle from recession to recovery. Consumers are ready to spend more
this holiday season than in any of the past 8 years.
LARKSPUR, Calif. - The November Money Anxiety Index at 62.5 is exactly where it stood on December 2007 when the Great Recession officially started. It took the Money Anxiety Index, which measures consumers' financial stress, 8 years to go back to its pre-recession level.
During the 8-year cycle, the Money Anxiety Index peaked in December of 2010 at 95.5 and started its gradual decline to its current 62.5 level. The Money Anxiety Index was faster on its way up than on its way down. It took the index only 3 years to reach its peak in December of 2010, and 5 years to go down to its current pre-recession level.
The decline in the level of money anxiety among consumers is a reflection of improving economic conditions. Among them is the latest jobs report showing that the labor market added 271,000 nonfarm jobs in October with healthy gains in construction, professional & business services, education & health and leisure & hospitality.
The timing of the decline in the level of money anxiety is also important. November is the gateway to the holiday shopping season, which is a critical time for retailers. The return of the Money Anxiety Index to its pre-recession level suggest that consumers are ready to spend more this holiday season than in any of the past 8 years.
About The Money Anxiety Index
The Money Anxiety Index is produced by Dr. Dan Geller, a behavioral finance scientist and the author of the book Money Anxiety. The index measures the level of consumers' financial worry and stress based on their spending and savings pattern. Historically, the Money Anxiety Index fluctuated from a high of 135.3 during the recession of the early 1980s, to a low of 38.7 in the mid-1960s.
About The Money Anxiety Book
Money Anxiety is a behavioral finance book exploring how financial anxiety impacts consumer behavior. The book explains why we make instinctive financial decisions; why we are more risk averse when stressed and why we hate to lose more than we love to win.
### Press Release ############################
(Leasing News provides this ad as a trade for appraisals and equipment valuations provided by Ed Castagna)
Chicago, Illinois Adopt-a-Dog
8 years old
Looking for a laid back, loyal companion? Meet Dory! This amazing lady is sweet, laid back, and a great house guest. She is house trained and well mannered. She recently spent some time in foster and her foster mom called her a very relaxed, easy dog. She even tells you when she wants to go outside. Dory is the perfect mix of cuddly and active. She will be happy to go for a run and then lay around and watch a movie afterwards. Her favorite activities include playing fetch, chewing on Kong toys, and going for walks. Adopt Dory today!
May 21st, 2015: Dory arrived at the Adoption Center.
Going for a car ride? Take me along!
I love playing with Kong toys
I’m a great walking partner and can go for miles
I’ll take as much exercise as I can get!
Cuddles! I love a good lap to curl up on
Did someone say ‘treat’? I’ll take them all
I’m a people person!
I’m a star pupil at obedience training
Loud noises frighten me so I prefer a quite home
Thunderstorms can frighten me so I prefer a safe spot where I can relax
I need a little extra time to warm up to people I don’t know
I'd love to find a home with children 10 and older.
Dory would love to meet you! She is part of PAWS Chicago’s Featured 5 adoption program and is looking for a patient adopter who will help build her confidence and continue the training program she began at PAWS Chicago.
As a benefit of her adoption, adopters will receive a year of free Merrick Pet Care dog food, free wellness care at PAWS Chicago Medical Center and free dog training at PAWS Chicago’s Training Center.
Dory is currently enjoying time in foster. To schedule an introduction, email firstname.lastname@example.org today!
Adopt a Pet
Irvine, CA - Consulting and Investigations Operation Lease Fleece Case Agent, 20 year FBI fraud/white collar crime investigator,
10 year USMC Officer-pilot.
Calif. Private Investigator License #29005
|Los Angeles - Licensed Private Investigators, specializing Collateral Recovery Field Investigation for the Lending industry since 1998 - Our clients include Banks, Credit Unions, Automotive and Equipment Lenders.
Collections, Investigations & Asset
Tierra Investigations & Consultants, LLC. Commercial collections, repossessions, bankruptcy fraud, theft & conversion claims.
(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)
This Day in American History
1620 – Pilgrims aboard The Mayflower sight land at Cape Cod, MA.
1731 - Birthday of Benjamin Banneker (d. 1806) at Elliott's Mills, MD. American astronomer, mathematician clockmaker, surveyor and almanac author, called “first black man of science.” He was instrumental in the original survey of city of Washington. Banneker's Almanac was published 1792-97. A fire that started during his funeral destroyed his home, library, notebooks, almanac calculations, clocks and virtually all belongings and documents related to his life.
1756 - Travel was generally by horse or walking before this date when the first intercity stagecoach service was inaugurated between Philadelphia, PA, and New York City by John Butler, Francis Holman, John Thompson, and William Walter.
1764 – Mary Campbell, a captive of the Lenape during the French and Indian War, was turned over to forces commanded by British Colonel Henry Bouquet. It is believed that she was captured in Pennsylvania in 1758 at age 10. Bouquet held meetings with Shawnee and Delaware leaders at Fort Pitt, until October 20, when Bouquet issued an ultimatum and demanded the return of captives. Captives were turned over to Bouquet's forces at different times during and after these proceedings. Campbell was among those who were returned.
1800 - Birthday of Asa Mahan (d. 1889), Vernon, Canada. U.S. Congregational clergyman and educator, he was President of Oberlin College in Ohio from 1835-1850. Mahan was instrumental in establishing interracial college enrollment and in the granting of college degrees to women.
1802 - Birthday of Elijah P. Lovejoy (d. 1837), at Albion, ME. American newspaper publisher and abolitionist, he died in a fire started by a mob angry about his anti-slavery views.
1815 - Reverend Leonard Grimes (d. 1874) was born at Leesburg, VA to parents who were free. A free black man living at Washington, DC, he despised slavery and became active in assisting fugitive slaves to escape. He was caught and imprisoned at Richmond, VA. After his release, he founded and became the first minister of the Twelfth Street Baptist Church at Boston, MA, where he served until his death.
1822 – Fifteen leagues from Cuba, a large band of pirates captured several vessels and held them for ransom. Upon hearing of the pirate attacks, the US Navy schooner “Alligator”, under Lieutenant William Howard Allen, rushed to the scene to rescue the vessels and seize the pirates.
1831 - Birthday of Cornelia Adele Strong Fassatt (d. 1898), Owasco, NY. Painter of “The Florida Case” before the Electoral Commission that hangs in the U.S. Capitol building that contains the faithful likenesses of 260 prominent figures of the day.
1833 - Birthday of Sally Louisa Tompkins (d. 1916), Mathews County, VA. She was made a captain in the Confederacy so she could continue operating a private hospital which had less than a 7% fatality rate, an unbelievably low rate for the times. She was buried with full military honors when she died.
1836 - The first state police were formed when G.W. Davis was commissioned to raise 20 Texas Rangers. Texas was a province of Mexico at the time. The General Council of the Provisional Government of Texas authorized the organization of three Ranger companies. Texas was admitted to the Union in 1845.
1836 - Birth of Christian business traveler Samuel Hill. In 1899, Hill, John Nicholson and W.J. Knights co-founded the Gideons, a Christian organization that ministers through distribution of the Scriptures. To date, the Gideons have placed over 12 million Bibles and 100 million New Testaments.
1857 - The new magazine, the "Atlantic Monthly", featured the first installment "The Autocrat of the Breakfast Table" by Oliver Wendell Holmes.
1861 - Tennessee votes against secession.
1862 – Union Gen. Ambrose Burnside assumed command of the Army of the Potomac, after McClellan was removed.
1868 - Medical School at Howard University opened with eight students.
1872 - The Boston Fire: though Boston had experienced several damaging fires, the worst one started on this Saturday evening in a dry-goods warehouse. Spreading rapidly in windy weather, it devastated several blocks of the business district, destroying nearing 800 buildings. Damage was estimated at more than $75 million. It was said that the fire caused a bright red glare in the sky that could be seen from nearly 100 miles away. The Boston fire came one year, one month, and one day after the Great Chicago Fire of October 8, 1871.
1887 – During the reign of King Kalakaua, the United States was granted exclusive rights to enter Pearl Harbor and to establish "a coaling and repair station."
1899 - Clarinetist Mezz Mezzrow (d. 1972) born Milton Mesirow, Chicago, ILL. His autobiography about Chicago jazz days is still considered a classic, written in 1946, entitled “Really the Blues.” Ben Pollock, the drummer says Mezz was “not too smart, and he ran errands for us mostly.” Ben at the time owned a Pizza joint on Sunset Blvd that we often visited to listen to the Dixieland music.
1906 - United States President Theodore Roosevelt left for Panama on the first overseas trip by a United States President.
1906 - Trumpet player Muggsy Spanier (d. 1967) birthday, born Francis Joseph Julian Spanier, Chicago.
1906 - Alto sax player and band leader Peter Brown (d. 1963) born, Baltimore, MD.
1912 - West Point cadet Dwight D. Eisenhower broke his kneecap in a football game against Tufts University and gave up the sport forever.
1913 – The 'Freshwater Fury', the most destructive natural disaster ever to hit the Great Lakes, produced sustained winds of 62 mph at Port Huron, MI, gusts to 80 mph at Buffalo, NY and 79 mph at Cleveland, OH. 19 ships were sunk and 270 sailors were lost. 22.2 inches of snow fell at Cleveland. Pickens, WV had 36 inches
1918 - Birthday of Spiro Theodore Agnew (d. 1996) at Baltimore, MD. 39th Vice President who was twice elected Vice President (1968 and 1972) under Richard Nixon. Agnew became the second person to resign that office October 10, 1973. Agnew entered a plea of no contest to a charge of income tax evasion on contract kickbacks received while he was Governor of Maryland, after he became Vice President. John Calhoun was the first to resign, 1832, over many issues with President John Quincy Adams, including states’ rights, where Adams continued to believe states had the right to overrule federal authority and decided he had had it.
1918 - Birthday of swimmer Florence May Chadwick (d. 1995), San Diego, CA. Chadwick never won a national title and failed to qualify for the US Olympic team in 1936, but she won enduring fame by becoming the first woman to swim the English Channel in both directions. She swam from France to England on August 8, 1950, and from England to France a year later. She made other long-distance swims as well, including the Bristol Channel, the Catalina Island to California swim and the Strait of Gibraltar.
1923 - Birthday of actress and singer Dorothy Dandridge (d. 1965) at Cleveland, OH. She was a child star who toured with her sisters, Vivian and Etta Jones, as The Dandridge Sisters. They played at the Cotton Club, sharing the stage with artists such as Cab Calloway and W.C. Handy. Dandridge went solo in 1941 to perform in Hollywood movies and on stage with the Desi Arnaz Band. Her big break came with the lead role in Otto Preminger's musical, “Carmen Jones”. Dandridge received an Oscar nomination for her performance. Unfortunately, Dandridge could not overcome Hollywood's racism and tendency to typecast and her career foundered.
1926 - A F3 tornado struck a small school near La Plata, MD killing 14 students. The school was lifted, thrown into a grove of trees and blown apart. The body of one child was found in a tree 300 feet away
1934 - Birthday of Carl Sagan (d. 1996) at Brooklyn, NY. An astronomer, biologist, author, he published more than 600 scientific papers and articles and was author, co-author or editor of more than 20 books. He spent most of his career as a professor of astronomy at Cornell University, where he directed the Laboratory for Planetary Studies. His phrase “A galaxy is composed of gas and dust and stars—billions upon billions of stars” was mocked frequently as he appeared on “The Tonight Show Starring Johnny Carson”. As a humorous tribute to Sagan and his association with the catchphrase "billions and billions", a “sagan” has been defined as a unit of measurement equivalent to a very large number of anything.
1935 - The Congress of Industrial Organizations, the CIO, was founded in Atlantic City by eight trade unions belonging to the American Federation of Labor.
1935 – Cardinals’ right-hander Bob Gibson was born in Omaha, NE. He played 17 seasons for St. Louis (1959–75). Gibson tallied 251 wins, 3,117 strikeouts, and a 2.91 ERA. A nine-time All-Star and two-time World Series champion, he won two Cy Young Awards and the 1968 NL MVP award after posting a 1.12 ERA that caused MLB to lower the height of the mound to its present level. In 1981, he was elected to the Baseball Hall of Fame in his first year of eligibility. The Cardinals retired his uniform number 45 in September 1975 and inducted him into the team Hall of Fame in 2014.
1937 – The Cardinals Joe Medwick, who won the Triple Crown in the NL, was named NL MVP. He led the NL in a dozen offensive categories, including batting (.374) and RBI (154), and tied for the lead in home runs (31).
1938 - 24-year-old Mary Martin made her Broadway stage debut in the musical comedy "Leave It to Me". She brought down the house as she sang “My Heart Belongs to Daddy”. And the critics raved about New York's bright new star. The following year brought Martin a top-ten hit with the same song. Martin suddenly found herself singing duets with Bing Crosby; starring on "Broadway in One Touch of Venus" in 1943; "Lute Song" in 1946; touring in "Annie Get Your Gun"; and then taking on what would become her immortal role, that of Nellie in "South Pacific". South Pacific was one of Broadway's biggest hits and the cast album was one of the first of its kind, also a big seller. This was followed by Mary's stage and TV performances as “Peter Pan”. This would become her signature role, a memorable moment as the petite actress flew through the air with Tinkerbell and fought the dangerous Captain Hook. Broadway called to Mary Martin again in 1959 for "The Sound of Music" and once more in 1966 for "I Do, I Do". Back in 1951, Mary Martin recorded a duet with a young man who was also destined for instant and long-term stardom. The song they sang together was “Get Out Those Old Records”. The twenty-year-old was her son, Larry Hagman, who later played J.R. Ewing in the TV Series “Dallas” after a starring role as Maj. Anthony Nelson in “I Dream of Jeannie”.
1938 – The Nazi German diplomat Ernst von Rath died from the fatal gunshot wounds of Jewish resistance fighter Herschel Grynszpan, an act which the Nazis used as an excuse to instigate “Kristallnacht” in Germany. Hitler's men raided Jewish homes and synagogues. The name is derived from the broken glass that covered the streets. Lest we forget...More than four million women and children were killed by Hitler. He abolished abortion and birth control and held contests and awarded medals for women bearing the most children, had camps and homes where women were used for men's pleasure and breeding - and there were no women were among the leaders of the Nazi party. In addition to sharing ALL the horrors that the men in concentration camps suffered at the hands of the Nazis, the women also were raped and sexually tortured by both inmates and Nazis.
1944 - GOTT, DONALD J., (Air Mission) Medal of Honor
Rank and organization: First Lieutenant, U.S. Army Air Corps, 729th Bomber Squadron, 452d Bombardment Group. Place and date: Saarbrucken, Germany, 9 November 1944. Entered service at: Arnett, Okla. Born: 3 June 1923, Arnett, Okla. G.O. No.: 38, 16 May 1945. Citation: On a bombing run upon the marshaling yards at Saarbrucken a B-17 aircraft piloted by 1st. Lt. Gott was seriously damaged by antiaircraft fire. Three of the aircraft's engines were damaged beyond control and on fire; dangerous flames from the No. 4 engine were leaping back as far as the tail assembly. Flares in the cockpit were ignited and a fire raged therein, which was further increased by free-flowing fluid from damaged hydraulic lines. The interphone system was rendered useless. In addition to these serious mechanical difficulties the engineer was wounded in the leg and the radio operator's arm was severed below the elbow. Suffering from intense pain, despite the application of a tourniquet, the radio operator fell unconscious. Faced with the imminent explosion of his aircraft, and death to his entire crew, mere seconds before bombs away on the target, 1st. Lt. Gott and his copilot conferred. Something had to be done immediately to save the life of the wounded radio operator. The lack of a static line and the thought that his unconscious body striking the ground in unknown territory would not bring immediate medical attention forced a quick decision. 1st. Lt. Gott and his copilot decided to fly the flaming aircraft to friendly territory and then attempt to crash land. Bombs were released on the target and the crippled aircraft proceeded alone to Allied-controlled territory. When that had been reached, 1st. Lt. Gott had the copilot personally inform all crewmembers to bail out. The copilot chose to remain with 1st. Lt. Gott in order to assist in landing the bomber. With only one normally functioning engine, and with the danger of explosion much greater, the aircraft banked into an open field, and when it was at an altitude of 100 feet it exploded, crashed, exploded again and then disintegrated. All 3 crewmembers were instantly killed. 1st. Lt. Gott's loyalty to his crew, his determination to accomplish the task set forth to him, and his deed of knowingly performing what may have been his last service to his country was an example of valor at its highest.
1946 - Thousands of African-Americans fought in World War II, but after the war the same old injustices and hatred prevailed. In Philadelphia Margaret Roselle Hawkins and Sarah Strickland Scott founded a nonpartisan, volunteer organization called The Links, “linking” their friendship and resources in an effort to better the lives of disadvantaged African-Americans. From the first group of nine, The Links has grown to an incorporated organization of 8,000 women in 240 local chapters in 40 states plus the District of Columbia and two foreign countries. The Links promotes educational, cultural and community activities through a variety of projects here and in Africa.
1948 - Top Hits
“Buttons and Bows” - Dinah Shore
“Hair of Gold, Eyes of Blue” - Gordon MacRae
“On a Slow Boat to China” - The Kay Kaiser Orchestra (vocal: Harry Babbitt & Gloria Wood
“One Has My Name (The Other Has My Heart)” - Jimmy Wakely
1948 - On NBC radio, "This is Your Life" debuted. The host for that first episode was Ralph Edwards who hosted the radio show for two years before giving the show nine more years from 1952 to 1961 on television.
1948 – Joe Bouchard of Blue Oyster Cult was born in Watertown, NY.
1952 - “Omnibus” premiered on television. This eclectic series deserved its name, offering a variety of presentations, including dramas, documentaries and musicals. Alistair Cooke hosted the program, which was the first major TV project to be underwritten by the Ford Foundation. Notable presentations included: James Agee's “Mr. Lincoln”; “Die Fledermaus,” with Eugene Ormandy conducting the Metropolitan Opera Orchestra; Agnes DeMille's ballet “Three Virgins and the Devil” (presented as “Three Maidens and the Devil”); and documentaries from underwater explorer Jacques Cousteau.
1953 - Reaffirming its earlier position, the United States Supreme Court ruled, 7-2, that baseball is a sport and not a business and therefore not subject to anti-trust laws. The ruling involved the New York Yankees minor leaguer George Tolson, who refused to move from Triple-A to Double-A.
1955 - For RCA Victor, Harry Belafonte recorded "Jamaica Farewell" and "Come Back Liza", completing the "Calypso" album that led to Belafonte's nickname, "Calypso King".
1955 - The Everly Brothers made their first studio recordings, cutting four tracks in 22 minutes at Nashville's Old Tulane Hotel Studios.
1956 - Top Hits
“Love Me Tender” - Elvis Presley
“The Green Door” - Jim Lowe
“True Love” - Bing Crosby & Grace Kelly
“Hound Dog/Don't Be Cruel” - Elvis Presley
1958 - Elvis Presley's "Hound Dog" became only the third record in history to sell over three million copies, joining "White Christmas" by Bing Crosby and Gene Autry's "Rudolf the Red Nosed Reindeer".
1960 - The New York Yankees fired their manager, Casey Stengel, despite his having won 10 pennants and seven World Series in 12 years. Stengel returned to baseball in 1962 as first manager of the New York Mets. Casey remarked after the firing, “I’ll never make the mistake of being 70 again!”
1960 – Robert McNamara was named president of Ford Motor Company, the first non-Ford to serve in that post. A month later, he resigned to join the administration of newly-elected President John F. Kennedy.
1961 - Brian Epstein went to Liverpool's Cavern Club to see The Beatles perform for the first time. He had been getting requests at his NEMS music store for a record called "My Bonnie". After several more visits, Epstein would offer to manage the group, which he did until his death in 1967.
1961 - PGA eliminates Caucasians only rule.
1963 - The Kingsmen's classic, "Louie, Louie" is released in the US. It will enter the Hot 100 near the end of November and peak at #2 in early January.
1964 - Top Hits
“Baby Love” - The Supremes
“Last Kiss” - J. Frank Wilson & The Cavaliers
“Leader of the Pack” - The Shangri-Las
“I Don't Care (Just as Long as You Love Me)” - Buck Owens
1965 – A massive electric power failure starting in western New York State at 5:16PM, cut electric power to much of northeastern US and Ontario and Quebec in Canada. More than 30 million persons in an area of 80,000 square miles were affected. The experience provoked studies of the vulnerability of 20th century technology.
1967 - With John Lennon on the cover, the first issue of "Rolling Stone" was published. The magazine said it was not just a music magazine but was also about “...the things and attitudes that music embraces.”
1967 - SIJAN, LANCE P., Medal of Honor
Rank and organization: Captain, U.S. Air Force, 4th Allied POW Wing, Pilot of an F-4C aircraft. Place and date: North Vietnam, 9 November 1967. Entered service at: Milwaukee, Wis. Born: 13 April 1942, Milwaukee, Wis. Citation: While on a flight over North Vietnam, Capt. Sijan ejected from his disabled aircraft and successfully evaded capture for more than 6 weeks. During this time, he was seriously injured and suffered from shock and extreme weight loss due to lack of food. After being captured by North Vietnamese soldiers, Capt. Sijan was taken to a holding point for subsequent transfer to a prisoner of war camp. In his emaciated and crippled condition, he overpowered 1 of his guards and crawled into the jungle, only to be recaptured after several hours. He was then transferred to another prison camp where he was kept in solitary confinement and interrogated at length. During interrogation, he was severely tortured; however, he did not divulge any information to his captors. Capt. Sijan lapsed into delirium and was placed in the care of another prisoner. During his intermittent periods of consciousness until his death, he never complained of his physical condition and, on several occasions, spoke of future escape attempts. Capt. Sijan's extraordinary heroism and intrepidity above and beyond the call of duty at the cost of his life are in keeping with the highest traditions of the U.S. Air Force and reflect great credit upon himself and the U.S. Armed Forces.
1967 - YOUNG, GERALD O., Medal of Honor
Rank and organization: Captain, U.S. Air Force, 37th ARS Da Nang AFB, Republic of Vietnam. Place and date: Khesanh, 9 November 1967. Entered service at: Colorado Springs, Colo. Born: 9 May 1930, Chicago, Ill. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. Capt. Young distinguished himself while serving as a helicopter rescue crew commander. Capt. Young was flying escort for another helicopter attempting the night rescue of an Army ground reconnaissance team in imminent danger of death or capture. Previous attempts had resulted in the loss of 2 helicopters to hostile ground fire. The endangered team was positioned on the side of a steep slope which required unusual airmanship on the part of Capt. Young to effect pickup. Heavy automatic weapons fire from the surrounding enemy severely damaged 1 rescue helicopter, but it was able to extract 3 of the team. The commander of this aircraft recommended to Capt. Young that further rescue attempts be abandoned because it was not possible to suppress the concentrated fire from enemy automatic weapons. With full knowledge of the danger involved, and the fact that supporting helicopter gunships were low on fuel and ordnance, Capt. Young hovered under intense fire until the remaining survivors were aboard. As he maneuvered the aircraft for takeoff, the enemy appeared at point-blank range and raked the aircraft with automatic weapons fire. The aircraft crashed, inverted, and burst into flames. Capt. Young escaped through a window of the burning aircraft. Disregarding serious burns, Capt. Young aided one of the wounded men and attempted to lead the hostile forces away from his position. Later, despite intense pain from his burns, he declined to accept rescue because he had observed hostile forces setting up automatic weapons positions to entrap any rescue aircraft. For more than 17 hours he evaded the enemy until rescue aircraft could be brought into the area. Through his extraordinary heroism, aggressiveness, and concern for his fellow man, Capt. Young reflected the highest credit upon himself, the U.S. Air Force, and the Armed Forces of his country.
1969 - Simon and Garfunkel record what would become their signature tune, "Bridge Over Troubled Water", with future member of Bread, Larry Knechtel on piano. Art wanted Paul to sing the song, but Paul insisted that Art's voice was better suited for it. It was a decision that Paul would later say he regretted.
1969 - The occupation of Alcatraz was planned by Richard Oakes, a group of Indian students, and a group of urban Indians from the Bay Area. Since many different tribes were represented, the name "Indians of All Tribes" was adopted for the group. They claimed the island in the name of Indians of all tribes and left the island to return later that same evening. In meetings following the November 9th occupation, Oakes and his fellow American Indian students realized that a prolonged occupation was possible. --Alcatraz Indian Occupation
1970 – The Supreme Court voted against hearing a case to allow Massachusetts to enforce its law granting residents the right to refuse military service in an undeclared war.
1972 - Top Hits
“I Can See Clearly Now” - Johnny Nash
“Nights in White Satin” - The Moody Blues
“Freddie's Dead” (Theme from “Superfly”) - Curtis Mayfield
“It's Not Love (But It's Not Bad)” - Merle Haggard
1973 - After years of struggling as a member of two New York area bands, The Hassels and Attila, and as a bar room piano player, Billy Joel releases what will ultimately be his breakthrough album, "Piano Man". The title song will be released as a single and become a Top Twenty-five hit early next year.
1974 - "You Ain't Seen Nothing Yet" by Bachman-Turner Overdrive topped the charts and stayed there for a week.
1976 - In the wake of the reformed Fleetwood Mac's success with their latest, self-titled album, one of the band's earlier LPs, "Mystery to Me" goes Gold.
1977 - Donna Summer is awarded a Gold record for her Billboard #6 hit, "I Feel Love". It was the second of her twenty, US Top 40 chart makers.
1980 - Top Hits
“Woman in Love” - Barbra Streisand
“Lady” - Kenny Rogers
“The Wanderer” - Donna Summer
“On the Road Again” - Willie Nelson
1982 - An unusual California outbreak of tornadoes with 7 tornadoes setting down in the Los Angeles area. 2 of the storms reached F2 striking Long Beach and Van Nuys
1984 - The Vietnam Veterans Memorial was completed by the addition of a statue, “Three Servicemen” (sculpted by Frederick Hart), which was unveiled on this date. The statue faces the black granite wall on which are inscribed the names of more than 58,000 Americans who were killed or missing in action in the Vietnam War.
1985 - "Miami Vice Theme" by Jan Hammer topped the charts and stayed there for a week.
1988 - Top Hits
“Kokomo” - The Beach Boys
“Wild, Wild West” - The Escape Club
“The Loco-Motion” - Kylie Minogue
“Darlene” - T. Graham Brown
1989 - East German officials today opened the Berlin Wall, allowing travel from East to West Berlin. The following day, celebrating Germans began to tear the wall down. One of the ugliest and most infamous symbols of the Cold War was soon reduced to rubble that was quickly snatched up by souvenir hunters.
1991 - Champaign, IL shivered at 9 degrees, Calico Rock, AR dropped to 13 degrees, just two of 70 record lows for the date
1991 - "Cream" by Prince & the N.P.G. topped the charts and stayed there for 2 weeks.
1995 – LA Dodgers P Hideo Nomo was NL Rookie of the Year, becoming the first Japanese player ever to win a Major League award. Nomo posted a 13-6 record with 236 strikeouts and a 2.54 ERA in 191.1 innings. Nomo pitched over the span of 13 seasons in the Majors, with 8 different teams, before retiring in 2008. He twice led the league in strikeouts and also threw two no-hitters. Over his career he compiled a record of 78–46, 3.15 ERA with 1204 Ks.
1996 - "No Diggity" by Blackstreet topped the charts and stayed there for 4 weeks.
1997 - Denver cornerback Darrien Gordon ties an NFL record by returning two punts for touchdowns in the same quarter, a feat previously accomplished just twice in NFL history. His scoring returns of 82 and 75 yards in the first quarter gave Denver a 14-0 lead en route to a 34-0 defeat of Carolina.
1997 – Detroit Lions RB Barry Sanders became the first player in NFL history to rush for over 1,000 yards in nine straight seasons. In the same game Sanders passed former Dallas Cowboy Tony Dorsett for third place on the all-time rushing list.
1998 – Jim “Catfish” Hunter announced that he is suffering from Lou Gehrig's disease. The fatal disease, amyotrophic lateral sclerosis, attacks the nerves in the spinal cord and the brain and leads to a loss of motor skills. Hunter died less than a year later.
1998 - US federal judge ordered 37 US brokerage houses to pay $1.03 billion to cheated NASDAQ investors to compensate for price fixing. This is the largest civil settlement in United States history.
1999 - The Recording Industry Association of America announces their Artists of the Century. The Beatles top the list for US sales of over 106 million albums. Garth Brooks was named most successful male artist (89 million albums sold) and Barbra Streisand the most successful female artist. (62 million albums sold). Elvis Presley had the most Gold and Platinum singles with 77, to go along with his 80 Gold and Platinum albums. Elton John's "Candle in the Wind" (Princess Diana version) is the best-selling single of all time and the Eagles "Greatest Hits 1971 - 1975" is the record holder for best-selling album.
2000 - After posting the best record in baseball this season, Giant manager Dusty Baker is named by the BBWAA as the National League Manager of the Year. He joins Tony LaRussa (White Sox '83 and A's '88 and 92) as the only three-time winner of the award.
2000 - The Beatles launched their official internet web site, www.thebeatles.com
2002 - After a decade as the skipper in San Francisco, Dusty Baker signs a four years deal to pilot the Cubs. The three-time NL Manager of the Year
compiled an 840-715 record during his ten-year tenure with the Giants.
On October 13, 2007, Baker was hired as manager of the Cincinnati Reds. fired October 4, 2013. November 3, 2014, named new manager for the Washington Nationals for the 2015 season. At the time of his hiring, he was the only black manager in Major League Baseball and has the second–highest total for most wins in MLB.
2004 - After coming out of retirement to pitch for his home town team, Roger Clemens (18-4, 218, and 2.98) becomes the oldest hurler to win the Cy Young Award. The 42-year old ‘Rocket' has received the honor a record seven times and becomes the first to win the award with four different teams; Red Sox (1986-87, 1991), Blue Jays (1997-98), Yankees (2001) and the Astros (2004).
2005 - Ozzie Guillen, who led the Chicago White Sox to the World Championship, joins his former field boss as recipients of the Managers of the Year honors. After leading a very young Braves team to the East division title, Bobby Cox, the NL winner, becomes the first skipper in either league ever win the award in consecutive years.
2008 - Participants in team-sponsored high school program aimed at helping Bronx youths pursue careers in architecture, engineering and construction, along with a few players remove rain-soaked dirt from the former Yankee Stadium and bring it across the street to the team's new $1.3 billion field. The soil is then mixed with the new stadium's dirt around home plate and pitcher's rubber which were also removed from the former site during the ceremony.
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
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