| 
 |
Burbank , California Credit Analyst Funding Manager Contact :Jason Downs: jdowns@capnetusa.com 877.980.0558 EXT. 125 |
www.capnetusa.com Recently named one of the “5 Best Places to Work” in Los Angeles . |
Monday, November 17, 2008
| Actor-comedian, producer, Daniel Michael "Danny" DeVito, Jr. born November 17, 1944,Neptune, New Jersey, best known from TV series Taxi (1978–1983), as well as many movies: "Romancing the Stone," "Throw Momma from the Train," "Twins," "Terms of Endearment," as well as "Batman" film series. http://www.imdb.com/name/nm0000362/ |
Headlines---
Classified Ads---Senior Management
Former LEAF Third Party Funding Employees
Charlie Lester, Leasing News Emeritus Advisor, Retires
Lessor not responsible equipment liability
Top Stories---November 10--November 14
Classified Ads---Finance / Human Resources
Bank Beat by Christopher Menkin
Cartoon—Wright Bros. First Flight
Classified Ads---Help Wanted
Leasing 102 by Mr. Terry Winders, CLP
Phone Audits
NAELB Eastern Regional Meeting, Atlanta
by Brian Montgomery
LEAF Extension of a $205 Million Credit Facility
Even as winds calm, more Californians flee fires
Credit crisis economic forecasters' views
Facing Deficits, States to make more cuts
Many consumers will switch to cash
$13.8 billion cash infusion for Freddie Mac
FDIC says plan could help 1.5MM keep homes
News Briefs---
You May have Missed---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
######## surrounding the article denotes it is a “press release”
 |
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Classified Ads---Senior Management
| Atlanta, GA Strong sales and leadership skills; demonstrated with sales training and sales performance. Lead team in both regional and national operations and developed marking programs. Email: mll1946@comcast.net |
Europe |
| Philadelphia, PA 27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries. email: mccarthy2020@comcast.net |
Salt Lake City, UT |
| Seattle,WA--Pacific Northwest Results oriented CLP with 27 year background in all phases of Portfolio Management and underwriting. Contact for resume and references. dcjohnr@comcast.net |
For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
To place a free “job wanted” Leasing News ad:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm
ELFA Career Center: Job Seekers (free):
http://careers.elfaonline.org/search.cfm
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Former LEAF Third Party Funding, Southern California,
Santa Barbara Leasing Employees available
from Paul Menzel’s former operation
| Allen Moehle | Credit Director |
| 805/686-2880 | anamoehle7@msn.com |
| Lori Staggs | Documentation Manager/Funding |
| 805-968-5793 | loriastaggs@yahoo.com |
| Oscar Castro III | Marketing Coordinator |
| 805-200-7827 | ocastro245@gmail.com |
| Sherrill Nickerson | Operations Manager/Credit Analyst |
| 805-705-3567 | sherrill46@aol.com |
| Steve Mixsell | Senior Systems Analyst |
| 805-692-9358 | smxl@netzero.net |
| Tina Guerrero | Quality Assurance |
| 805-453-7481 | tinag1@cox.net |
| Steve Reid | Marketing |
| 714-788-6407 | oc49ersteve@sbcglobal.net |
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Charlie Lester, Leasing News Emeritus Advisor, Retires
cel3245@mindspring.com
This is basically the second time, and the last, Charlie Lester says now that he is 68. He's not going into the office anymore.
On May 17, 2004, he sold the assets of LPI Financial Services to Kurt Hess, President, and Kay Smith, Vice President, as he wanted to slow down. He retained the direct sales effort, mostly part-time, and then formally on November 15, 2008, transferred the full operation over to them.
"For a little background, LPI Healthcare is owned by Kurt Hess, my son-in-law, who is President, a super salesman, and Kay Smith as the vice-president of administration. She helped the company grow in her 15 years with me. She has a background in both credit and sales. We have a great staff and both Kurt and Kay both headed up the company while I was around less and less each week."
One of the reasons for Charlie’s success is his ability to understand financial statements, medical businesses, and talk to decision makers understanding their financial objectives as a business adviser. When he was asked for the interest rate, he did not give “add on,” but the “APR.” He also specialized in meeting with the decision makers in groups, whether veterinarians, physicians, psychiatrists, as he had a secret trick . He listened. He said it worked every time. He also got all partners or corporate owners to sign regardless of their share.
Charlie graduated with a Master's Degree in Economics from Virginia Tech in 1965. He became a CPA in 1966 shortly before going to work in sales for IBM.
“As part of my initial training with IBM in 1966, I was assigned for a month as an AA to Tom Watson, Sr., the founder of IBM. When we traveled to IBM Branch Offices in the Eastern Region, Mr. Watson would always spend 10-15 minutes with the receptionist before seeing anyone else, including the Branch Manager.
“First of all, he preached that the receptionist was the most important person in the branch. She was the first contact and voice that IBM customers encountered. She set the image for the entire branch. In addition, he believed the receptionist was tuned into branch attitude and spirit. He used the receptionist as a barometer, not as a spy. He taught me listening was more important than talking.
“Mr. Watson had a profound influence on me since I married Barbara, the receptionist in the Roanoke, Virginia branch, who also became an AA to my boss where I started as a salesman. We have been happily married for 36 years. “
Charlie with Barbara on their anniversary
After 18 years in sales and sales management in six different cities, Charlie Lester resigned from IBM in 1984 to raise his family in Atlanta, Georgia. In 1985, a friend introduced him to the world of equipment leasing and he joined Lease Tec. In 1986, he stepped out on his own and founded Lease Pro, specializing in leases for the veterinary market. Lease Pro grew to 18 employees doing over $25,000,000 annually in small ticket lease originations. The company was sold to First Sierra Financial in 1997 and he worked for First Sierra until early 1999. After spending a year honoring the non-compete provision of his contract, Charlie founded LPI Financial Services in 1999. LPI specialized in working capital loans for medical professionals.
December 4, 2000 Charlie joined the Leasing News Advisory Board, contributing to the growth of the trade publication at the time a five week text listserve/newsletter. He wrote many articles, columns, contributed his time, energy and ideas. He left Leasing News in January, 2004. He wanted to slow down due to health problems, one that was to bring him to the hospital with heart warnings. In May, 2004, he began turning the company over to his two key employees.
Here he is June, 2004, Father's Day, with his oldest daughter Sharon Hess on the left, and his youngest daughter Melanie Milligan)
Leasing News wishes him and his family the best in his full retirement.
Hopefully Charlie will continue from time-to-time to contribute articles to Leasing News on making presentations, selling, and tips he picked up while active in leasing. Charlie says he wishes the best to all the friends he has made throughout his career. This time he is looking forward to his full time retirement. He welcomes your emails at cel3245@mindspring.com.
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Lessor not responsible equipment liability
Arriaga v. Citi Capital. (11-3-08, California Court of Appeals)
"The California Court of Appeals recently faced the issue of an equipment lessor which financed industrial equipment and the end user's employee was injured. In rejecting the injured worker's claim against the Lessor, the Court reaffirmed the 3 prong test of imposition of liability upon entites in the stream of commerce:
"--The entity received a direct financial benefit
--The entity's role was a necessary factor in bringing the product to the market; and
--The entity had control over the manufacturing or distribution process.
"Since the Lessor was a finance lessor and had no control over the last two factors above, the Court refused to impose liability on the Equipment Lessor, even though the Lessor retained title. Ultimately, the policy considerations behind imposing strict products liability on those involved in the vertical distribution of consumer goods were not furthered by including finance lessors as liable parties. “
Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Voice: (213) 621-4000
Direct (213) 617-6129
Fax: (213) 625-1832
www.bkolaw.com
Copy of Decision:
http://leasingnews.org/PDF/Arriaga_case.pdf
 |
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Top Stories---November 10--November 14
Here are the top ten stories most “opened” by readers last week:
(1) Another Leasing Company Closes Their Doors
http://www.leasingnews.org/archives/November%202008/11-14-08.htm#close
(2) Alert---Computer Vendor, Dallas, Texas
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#alert
(3) SunBridge Capital down for the count?
http://www.leasingnews.org/archives/November%202008/11-14-08.htm#sun
(4) “I never skipped town! “
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#town
(5) New Competition: Government Backed CIT, GE, Marlin…
http://www.leasingnews.org/archives/November%202008/11-14-08.htm#comp
(6) Aircraft-leasing unit of Bank of China to buy $1 billion
http://www.iht.com/articles/2008/11/10/business/airliner.php
(7) Bank Beat by Christopher Menkin
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#bank
(8) Cartoon---Bank Returned Check
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#toon
(9) Brian Montgomery NAELB Regional Meeting
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#naelb
(10) Leasing #102 by Terry Winders CLP
“Know what you are leasing or else!”
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#sales
 |
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Classified Ads---Finance / Human Resources
Leasing Industry Outsourcing
(Providing Services and Products)
Transaction Summary | The Lechner Group Website: www.tlgattorneycpa.com |
Finance: Naperville, IL Your guide to the right questions and answers in finance. Expert in capital raising, GAAP, acquisitions, lease economics. CPA. MBA. E-mail: m.willow@ameritech.net |
||
|
Finance: Charlotte, NC 15 Years of Equipment Leasing Experience and Recruiting with Business Aviation niche. Visit us at www.turningpointgrp.com E-mail: info@turningpointgrp.com |
Human Resource Consultant: New York, NY Employee Relations, Recruiting, Benefits, employee customer surveys, plus payroll administration "ON-LINE" services-- AND IN PERSON at your location Please visit: www.adviceonhr.com |
||
| Information System: North Detroit, MI INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies. Seeking consulting projects nationwide. email: darwint@prodigy.net |
All "Outsourcing" Classified ads
(advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
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Bank Beat by Christopher Menkin
CapitalSource, Chevy Chase, MD., announced that the FDIC has approved its application to convert CapitalSource Bank to a state-chartered commercial bank in California. CapitalSource had approximately $13.7 billion of commercial assets, including a healthcare net lease portfolio of approximately $1 billion. CapitalSource then may be eligible under the U.S. Treasury's TARP Program, said John K. Delaney, CapitalSource Chairman and CEO.
http://www.snl.com/InteractiveX/file.aspx?Id=6981977&KeyFileFormat=XML
Reuters reported on Thursday when Citibank stock was at a low of $8.28 four top Citigroup executives, including CEO Vikram Pandit and John Havens, purchased 1.3 million shares of the company's common stock. November 14 Citigroup stories found the bank had begun firing at least 10,000 employees throughout the world. At the same time while this was going on, borrowing money from the Fed, Citi raised their credit card prices to many customers by an average of 3%. Late Friday Reuters further reported, citing Spanish Press, that Citigroup will pay $2.5 billion in cash and take Sacyr Vallehermoso, a Spanish construction company, debt of $5 billion for a total of $7.5 billion. In addition, Citi was rumored last week as one of the bidders for Chevy Chase, a Bethesda, Md.-based regional bank, another aspect the government loan money is being used for, purchasing other banks and entities, not defaulted mortgages or helping homeowners; although no oversight or requirements were made at the time of the passage of the bill by Congress and signed by the current administration at the direction of the lame duck Treasury secretary.
http://www.reuters.com/article/marketsNews/idINLE21333420081114?rpc=44
Franklin Bank Corp., Houston, Texas, the 17th bank to fail this year, was taken overby Prosperity Bancshares, Inc., the parent company of Prosperity Bank, reported last week, who bought the deposits of $3.7 billion, including all uninsured deposits. On November 12, Franklin filed Chapter 7 bankruptcy, claiming their remaining assets had very little tangible worth. All the officers resigned except for Alan Master, a director and president and CEO, to represent the corporation in the bankruptcy process with creditors.
http://ofccolo.snl.com/Cache/c6971049.htm
1919-The first bank with resources exceeding $1 billion was the National City Bank (later named Citibank), New York City, whose assets this day were $1,027,928,114.31
Dow Jones reports the Royal Bank of Scotland intends to lay off 3,000 employees.
Synovus, Columbus, Georgia, has been approved to sell $973 million in preferred stock to the Treasury Department. Synovus said it expects to use the proceeds to shore up its capital base, boost lending capabilities and pursue bank acquisitions. In metro Atlanta, Synovus owns the Bank of North Georgia and the Bank of Coweta in Monroe.
As reported in a previous Bank Beat the difficulties of Vineyard National Bancorp, Corona, California, the bank has reportedly signed an agreement to be purchased for $18 million from Vineyard Bancshares, Minnesota, organized by its Chairman Doug Kratz.
The closing of the transaction is subject to the condition that Vineyard Bancshares raise at least $125 million in financing, of which it intends to inject around $100 million of the proceeds into Vineyard Bank.
The money may come from a government loan.
http://www.snl.com/irweblinkx/file.aspx?IID=100903&FID=6970060
Previous Vineyard Bank story:
http://www.leasingnews.org/archives/August%202008/08-15-08.htm#vin
Failed Bank List
OTS Cost of Funds:
Current:
http://leasingnews.org/PDF/Cost_of_Funds_11_14_08.pdf
Historic and quarterly:
http://leasingnews.org/PDF/Cost_of_Funds_history.pdf
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Leasing Industry Help Wanted
|
Burbank , California Credit Analyst Funding Manager Contact :Jason Downs: jdowns@capnetusa.com 877.980.0558 EXT. 125 |
www.capnetusa.com Recently named one of the “5 Best Places to Work” in Los Angeles . |
Sales
 |
Like selling vendor programs and large transactions? CLICK HERE to find out how to have fun again. |
Please see our Job Wanted section for possible new employees.
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Leasing 102
by Mr. Terry Winders, CLP
Phone Audits
The current legal environment places responsibility on the Lessor to confirm that the lessee is in fact in possession of the equipment when the lease payments begin. If you fund prior to the equipment being put into use you stand a good chance of having your transaction called invalid.
I was in New York at Columbia University not long after being involved in a case where the Lessee signed the acceptance agreement prior to delivery because the vendor indicated that he would not provide the equipment until after he was paid… because he did not know or trust the leasing company. The first payment was included with the signed acceptance agreement and the leasing company paid the vendor with no delay. Of course, Murphy’s Law was in full force and the vendor spent the money and declared federal bankruptcy and never delivered the equipment. A lawsuit developed between the Lessee and the Lessor after the Lessee refused to pay. The judge ruled in favor of the Lessee declaring that the Lessor, as the “owner” of the equipment, should have confirmed that the Lessee had the equipment.
The question is how to confirm delivery without a personal visit and while there are a few companies that will due an inspection for a fee the transaction needs to be above a number to be cost effective. Here I am concerned about how to do it at a reasonable cost with some degree of success. At Columbia University I meet the head of their philosophy department and as luck would have it the discussion got around to problems in leasing and I explained this problem. . He asked if we could not just phone the customer to confirm the delivery and use. I explained that if someone was brash enough to sign an acceptance document how would I believe what he said on the phone. That is when he said the average adult American can only lie four times in a row without beginning to show large amounts of stress. He said that if I created a questionnaire that contained enough questions about the equipment that could not be answered unless the equipment had been put in to use, I could tell if they actually had it.
I returned home and create these questions for a phone audit prior to vendor payment:
1. What date was the equipment delivered? Have all the attachments or accessories been delivered
[] Yes [] No.
2. Were there any changes in the equipment description? [] Yes [] No
(IF YES - STOP AUDIT AND RE-DOCUMENT)
3. What date was the equipment accepted? Equipment location?
4. Has the equipment been put into use? [] Yes [] No Are you satisfied with it’s performance?
[] Yes [] No
5. Did the vendor make any promises? [] Yes [] No Do you understand that we are not the vendor?
[] Yes [] No
6. Do you understand this is: a net lease? [] Yes [] No a non-cancelable lease? [] Yes [] No
7. Do you understand your purchase option is: [] $1.00 [] 10% [] TRAC % [] PUT % [] FMV [ ] you where told $/% ____________________ by the salesperson.
In Addition, we added questions on due dates and insurance, however, ever since we started to use this phone audit we did find out that on occasion the lessee had signed the acceptance form prior to actually having the equipment and we avoided perhaps some nasty problems.
If you would like a copy of the comprehensive form just email me.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666.
He invites your questions and queries.
Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm
 |
(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)
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NAELB Eastern Regional Meeting, Atlanta, Georgia
by Brian Montgomery
It’s Friday morning and the air is as thick as soup with a fog that is unlike any I have seen in months. I have spent the last hour navigating from one accident scene to the next as no less than three cars have found their way into the guard rails. It’s been a difficult drive from my home to the NAELB Eastern Regional Meeting in Atlanta but I recognize that I am in no position to complain as we have people coming from as far as California and Washington to make this event. Who am I to grumble over my short drive? It isn’t the distance that has me thinking but rather the oblivious drivers that I have battled on the road this morning. The city has been sacked by a fog that has visibility down to about 3 feet (that’s my story and I am sticking to it) and fair weather drivers are finding it difficult to navigate in these new conditions.
Finally, my exit! As I made my way off the highway a half an hour late, I knew it was only two right turns and then a left and I was there. However, I admit that I was not terribly familiar with the hotel location and looking back, I can’t believe that I was unable to find an eleven story hotel that should have been just two blocks down the road. Remember now, when I say it was like soup, I mean it! Only Mother Nature could take a super structure like the Renaissance Hotel and make it disappear like the main event of a David Copperfield TV special. After two trips around the block, I had to put my ego aside and stop to ask directions. Two right turns and a left and a right and then I caught a glimpse of the hotel.
Montgomery; why are you wasting so much time giving us weather and traffic reports when you are supposed to be discussing the NAELB regional conference, you might be asking. Good question and I am getting to it, hang in there! Later that evening, as the room filled with a couple of hundred people for the opening reception, I was happy to see that poor weather had not kept our members away from Atlanta. There was something different this year, and I am not referring to the fog. This year, I felt a sense of urgency in the air, a need and determination to reunite with our peers and yes, re-ignite that sense of confidence in our future. Of course, we all gauge events through our own filter of life experiences so I admit to my own bias in reporting. I know I was there looking for answers! I had put away that ego I mentioned earlier and I was asking for directions and taking notes; so too were many others.
Being a young pup of 37 years, I recognize that there are business cycles that I have yet to experience and these cycles can be pretty scary. So I seized the first opportunity I had to insert myself into the conversation of a group of brokers with perhaps a little less hair, a few more wrinkles, and a lifetime of more experience and knowledge than I have and I asked questions and I listened. I listened to them talk about changing times and how best to survive. I listened to them discuss tightening credit parameters and funders who are pulling back. I listened to them discuss how these very changes were great news for the nimble broker, able to capitalize on our competitors exit from the market. If the credit market is supposed to be frozen, then our job is to announce to the world that we have blow torches and we can get the money they need for their business!
Saturday morning was a brisk schedule of breakfast, exhibit time, followed by an afternoon of classes. The booths were filled with brokers and funders meeting right up until the time the classes started. In speaking with one exhibiting funder, he commented that the broker to funder ratio might have been a little lighter than years past but he was excited. The brokers he had met with were serious about making new relationships with funders. I have often stated that I don’t want to work on a lot of applications; I just want to close the ones that I do work on. His sentiment was exactly that: this was no tire kicking exercise, there were deal makers in the room and they were serious about survival. Lunchtime meant another chance to meet with friends and was followed by the final round of the game “Deal or No Deal.” At the opening reception, each member had an opportunity to play the game and beat the banker and our two top winners from the night before played a final round by where the top money winner had his choice of the contents of the briefcase or one hundred dollars. He chose the cash, leaving the brief case contents to his rival. However, the case contained a complimentary registration to the 2009 NAELB Annual Conference at the Red Rock Resort in Las Vegas worth over $600! Corey Bell of Lanier Funding and his committee did a great job of bringing the Las Vegas theme to the regional meeting and NAELB President, Jack Harvey stayed late to welcome five round-tables worth of first time conference attendees with a word of appreciation and an invitation to join the association. Jim Blumberg, Benefits Committee Chair; gave an overview of all of the benefits of NAELB membership and I realized that this isn’t the same association of even just a few short years ago. We may need another day to properly cover all of the benefits that membership now entitles us to.
As we moved into the afternoon class sessions, the schedule offered subjects for all levels; both experienced brokers and new. While every class was well attended, the class entitled “Adapting and Thriving in Today’s Environment” had us scrambling for more seating for the room. An hour later and I walked away with the feeling that things are going to be ok and yes, things are going to be different. But it is going to be different for everyone, not just me….and that made it ok.
I spoke earlier of how the fair weather drivers had failed to respect the poor conditions and as a result, they brought all of us to a dead stop on the highway. Well, our economy and especially our industry is a lot like that. We have all been affected by that other driver who hit the gas when he should have been hitting the brakes. Their failures have wrought havoc on the finance world and the economy as a whole, but those of us willing to slow down and use caution can still safely reach our destination. Just as the fog of the morning had obstructed my view of an eleven story hotel, the fog of government intervention and the morning news cycle can make it difficult to find our way in business too. Just as I recognized that this was no time to go it alone in search of the hotel; so too, this is no time for puffery and business machismo. Our association with others of like mind and mutual interest has never been more important than it is today. By Saturday evening, the fog that had shrouded our event had lifted both physically and metaphorically. I left the conference with a renewed sense of confidence and at least three new ideas that I plan on executing this week. That my friends… is exactly what the NAELB is all about!
I hope to see each of you in Las Vegas!
Brian Montgomery,
Express Funding Solutions
Immediate Past President, NAELB
 |
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### Press Release ###########################
LEAF Financial Corporation Announces the Extension of a $205 Million Credit Facility
PHILADELPHIA, PA, -- LEAF Financial Corporation, the commercial finance subsidiary of Resource America, Inc. (NASDAQ: REXI), announced that it has entered into an extension of one of its credit facilities led by Morgan Stanley Bank through November 2009. This facility was used to acquire the assets of NetBank Business Finance for its public limited partnership, LEAF Equipment Leasing Income Fund III, L.P., in November 2007. The facility had an original balance of $386 million and has a current balance of $205 million.
Crit DeMent, Chairman and Chief Executive Officer of LEAF, stated, "We are encouraged by and appreciate the confidence our lenders continue to show in our business as we work together to navigate this difficult credit environment."
LEAF is a commercial finance and equipment leasing company with approximately $1.6 billion in assets under management as of June 30, 2008.
Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the commercial finance, real estate and financial fund management sectors.
### Press Release ###########################
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 |
News Briefs----
Even as winds calm, more Californians flee fires
http://apnews.myway.com/article/20081117/D94GCHQ80.html
Credit crisis sends economic forecasters' views downhill fast
http://www.usatoday.com/money/economy/survey/2008-11-16-economy-survey
-recession_N.htm
Facing Deficits, States to make more cuts
http://www.nytimes.com/2008/11/17/us/17fiscal.html?_r=1&hp&oref=slogin
Many consumers will switch to cash
http://www.signonsandiego.com/news/business/20081116-9999-mz1b16credit.html
$13.8 billion cash infusion for Freddie Mac
http://www.signonsandiego.com/news/business/20081115-9999-1b15bizbrfs.html
FDIC says plan could help 1.5 million keep homes
http://www.signonsandiego.com/news/business/20081114-1324-mortgage-aid.html
---------------------------------------------------------------
You May have Missed---
Technology: What it means
http://www.youtube.com/watch?v=1RXNWwGUsBU
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“Gimme that Wine”
Wine giant Joseph Gallo shares secrets of success
http://seattletimes.nwsource.com/html/businesstechnology/2008396365_gallo16.html
A Wine Tour at the Corner of Oak and Vine
http://travel.nytimes.com/2008/11/14/travel/escapes/14wineries.html?ref=dining
French Wine Explorers Releases New Website and 2009 Tour Schedule
http://www.emediawire.com/releases/2008/11/prweb1602524.htm
Napa Valley Cabernet Sauvignon more than $50
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/14/WIII13VV8U.DTL&hw
=wine&sn=004&sc=245
Bids for sale of Kirkland winery in Napa to start at $22 million
http://www.pressdemocrat.com/article/20081113/BUSINESSJOURNAL/811130265?Title=
Bids_for_sale_of_Kirkland_winery_in_Napa_to_start_at__22_million_
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
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/
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Today's Top Event in History
1919-The first bank with resources exceeding $1 billion was the National City Bank (later named Citibank), New York City, whose assets this day were $1,027,928,114.31
[headlines]
----------------------------------------------------------------
This Day in American History
| 1734-Peter Zenger, Colonial printer and journalist who established the New York Weekly Journal (first issue, Nov 5, 1733), for libel against the colonial governor, but continued to edit his newspaper from jail. Trial was held during August 1735. Zenger's acquittal was an important early step toward freedom of the press in America. Zenger was born at Germany in 1697, came to the US in 1710 and died July 28, 1746, at New York, NY. 1758- English churchman Philip Embury, 30, married Margaret Switzer. Afterward immigrating to America, Embury was later encouraged by his cousin Barbara Heck to found a Methodist society in New York City in 1768. Embury thus became the first Methodist preacher in North America. http://www.famousamericans.net/philipembury/ 1774-The first military organization to oppose the British was the Light Horse of the City of Philadelphia, PA, organized by 28 gentlemen, three of whom were members of the Committee of Correspondence of the First Congress of America, to resist the aggressions of the British Crown 1800 - The United States Congress held its first session in Washington in the partially completed Capitol building. President John Adams ( who was elected in 1796; he was Washington’s vice-president, beating Thomas Jefferson 71 to 68 electoral votes) became the first occupant of the Executive Mansion, later called the White House. The second U.S. census recorded a population of 5,308,483, including 896,849 slaves. The total number represented a ten-year increase of 2,379,269: the number of slaves increased by 199,168. The center of the U.S. population was 18 miles southwest of Baltimore, a westward shift from 1790 reflecting the expansion of the frontier. African resettlement of black slaves in Virginia was proposed for the first time by the Virginia Assembly. The nonbinding resolution and its successors reflected antislavery attitudes in the South in the early years of the nineteenth century, even among influential slaveholders. In 1802, 1805, and 1816 similar resolutions were passed by the Virginian Assembly. In congressional elections the Republicans gained six Senate seats to take an 18-13 majority over the Federalist. In the House they gained 27 seats to take a 69-36 majority. This year’s contest for the presidency revealed a sharp political division between the Federalist Party and the Republican, or Democratic-Republican Party (forerunner of the Democratic Party.) ( Also note the firsts two elections, George Washington ran unopposed, and chose not to run for a third term The Federalist, advocates of a strong central government and representing the well-to-do business class, choose as their candidate President John Adams. The Republicans, the party of limited government and the agricultural interests, selected Thomas Jefferson of Virginia. The Constitution provided for each elector in the Electoral College to vote for two candidates. The candidate with the most votes would become president and the one with the second highest total, vice president. The Republican electors cast 73 votes for Jefferson and the same number for Aaron Burr, the Republican candidate for vice president. The Federalist electors cast 65 votes for Adams; 65 votes for Charles Cotesworth Pinckney, their candidate for the vice presidency (he was secretary of state and in the previous election came in third with 59 electoral votes); and one for John Jay. The tie between Burr and Jefferson for the presidency meant the election would have to be decided in early 1801 by the House of Representatives. The problems caused by this election contributed to the passage, and ratification in 1804, of the Twelfth Amendment to the Constitution. “The person having the greatest number of votes for President, shall be the President, if such number be a majority of the whole number of Electors appointed; and if no person shall have such majority, then from the persons having the highest numbers not exceeding three on the list of those voted for as President, the House of Representatives shall choose immediately, by ballot, the President. But, in choosing the President, the votes shall be taken by States, the representation from each state having one vote; a quorum for this purpose shall consist of a member or members from two-thirds of the states, and a majority of all the states shall be necessary to a choice.” http://www.gpoaccess.gov/constitution/pdf/con023.pdf. 1842- George Latimer, who had escaped from a Virginia plantation, was arrested in Boston under the Fugitive Slave Act. A campaign began to free Latimer and end Massachusetts' complicity with slavery. Within months, enough pressure was put on the Virginia slave owner to force him to sell Latimer. Soon after, Bay State lawmakers passed the "Latimer Statute," which forbade the use of public facilities or services to hold or arrest fugitive slaves. His son Lewis became a famous inventor. http://www.freeessaysnet.com/viewpaper/7803.html http://www.ideafinder.com/history/inventors/latimer.htm http://edison.rutgers.edu/latimer/glat1.htm http://www.4littlescientists.com/id111_files/LewisLatimer.htm 1851- The United States Post Office issued a 1-cent carrier stamp to make paying delivery fees easier. It was a first and last for stamps: the first to depict an American eagle; and the last to make paying fees easier. Carrier stamps were used during the period of 1851-1863 to help pay for the costs of delivering letters from one post office to another and for collecting and delivery of letters in the same city. Prior to 1863 letters were dropped off at post offices or street mail boxes, available since 1858 according to the USPS. The addressee was required to pick up the letter from the post office to which it was ultimately delivered. In some of the larger cities, for a small fee of usually one or two cents, the letter could be delivered (carried) to the street address of the addressee, hence the "carrier" service and the "carrier stamp". In 1863, for the first time, free delivery to the street address was made available in 49 of the largest cities in the U.S. Over time many more cities instituted this "free delivery", something which we take for granted today. However, it wasn't until 1896 that the first free rural deliveries were instituted on a trial basis in West Virginia. Over time, RFD, or rural free delivery, became an important part of the U.S. Postal Service and is taken for granted today, as well. http://www.1847usa.com/identify/19th/1861.htm 1855-In San francisco, Gambler Charles Cora shot and killed Gen. William H. Richardson, the U.S. Marshal, on Clay near Leidesdorff. Richardson was drunk, and insulted Cora's mistress, Arabella (Belle). 1856- The first "Thanksgiving Day" celebration observed in San Francisco, California. 1862- Confederate Secretary of War George B Randolph resigns (grandson of Thomas Jefferson, another trivia fact: his portrait appears on the $100 Confederate dollar bill). after only 8 months because of conflicts with Confederacy President Jefferson Davis. http://www.csawardept.com/history/Cabinet/Randolph/ http://www.currencygallery.org/vignettes/randolph.htm (part of an interesting letter sent to Randolph when he was Secretary of War: “Our negroes are property, the agricultural class of the Confederacy, upon whose order and continuance so much depends--may go off (inflicting a greet pecuniary loss, both private and public) to the enemy, convey any amount of valuable information, and aid him by building his fortifications, by raising supplies for his armies, by enlisting as soldiers, by acting as spies and as guides and pilots to his expeditions on lend and water, and bringing in the foe upon us to kill and devastate; and yet, if we catch them in the act of going to the enemy we are powerless for the infliction of any punishment adequate to their crime and adequate to All them with salutary fear of its commission. Surely some remedy should be applied, and that speedily, for the protection of the country aside from all other considerations. A few executions of leading transgressors among them by hanging or shooting would dissipate the ignorance which may be supposed to possess their minds, and which may be pleaded in arrest of judgment.” 1869—The Suez Canal opens. ( lower half of: http://memory.loc.gov/ammem/today/nov17.html ) 1869 - hurricane force southwesterly winds swept the Berkshires and Green Mountains of New England causing extensive damage to forests and structures 1878- Progressive Era reformer Grace Abbott was born in Grand Island, Nebraska. http://memory.loc.gov/ammem/today/nov17.html 1887-“The Overland Limited” began the first transcontinental daily railroad service. Passengers changed trains at Omaha, NE with direct service between Chicago, Il, and Portland, OR, and between Chicago and San Francisco, CA, by the Union Pacific Railroad Company. 1901-In San Francisco, the first Chinese Telephone Company opened. 1911-Omega Psi Phi, fraternity, founded on the campus of Howard University. http://www.angelfire.com/me2/psipsi/founders.html http://www.quedog.com/index1.html 1915-trumperter Shorty Sherock born Minneapolis, Minn. http://www.artistdirect.com/music/artist/bio/0,,492416,00.html?artist=Shorty+Sherock 1913 - The first ship sails through the Panama Canal, which connects the Atlantic and Pacific oceans. 1916 Birthday of Shelby Foote, American writer, famous for his three-volume narrative on America's Civil War. 1917-The U.S.S. Fanning and the U.S.S. Nicholson were the first naval vessels to sink an enemy submarine in the Atlantic. At 4:10pm in latitude 57 degrees 37 minutes N, longitude 8 degrees 12 minutes W, the Fanning, while in convoy, sighted the periscope of a submarine. The Fanning headed for the spot, and dropped depth charges. The Nicholson, one of the vessels of the convoy, speeded to the spot and also dropped depth charges. the German submarine U-58 came to the surface. The Nicholson fired three shots from her stern while the Fanning headed for the submarine and fired its bow gun. After three shots, the crew of the submarine came on deck and surrendered. The submarine sank shortly afterward. The commanding officer of the Finning was Lieutenant Commander Arthur Shcuyler Carpenter, and the commanding office of the Nicholson was Lieutenant Commander Frank Dunn Berrien. 1918 - Influenza deaths reported in the United States have far exceeded World War I casualties. 1919-The first bank with resources exceeding $1 billion was the National City Bank (later named Citibank), New York City, whose assets this day were $1,027,928,114.31 1919 -- Sylvia Beach opens Shakespeare & Company, first combination English-language book shop & lending library in Paris; befriends many of world's writers, particularly in the 1920s/30s, when her shop was a gathering place for expatriate writers & French authors pursued newfound interest in U.S. literature. She also published the first edition of Joyce's Ulysses. http://www.themodernword.com/joyce/bookstore_image_middle.jpg http://members.aol.com/noelriley/sylvia.html http://www.amazon.com/exec/obidos/tg/detail/-/0393302318/ 104-3191958-8595946?v=glance 1923-Edward Miguel “Mike” Garcia, baseball player born at San Gabriel, CA. Garcia, known as the “Big Bear,” was one of the Cleveland Indian’s best starting pitchers in the early 1950s. He won 19 games in 1954 when the Indians won the American League pennant. Died at Fairview Park, OH. January 13,1986 1927 - A tornado cut a seventeen mile path across Alexandria and southeastern Washington, DC, injuring 31 persons. The tornado struck the Naval Air Station where a wind gust of 93 mph was recorded. A waterspout was seen over the Potomac River ninety minutes later. 1930-Robert Bruce “Bob” Mathias birthday, former congressman and Olympic gold medal decathlete, born Tulare, CA. 1930-composer David Amram born Philadelphia, PA http://www.edkeane.com/About%20the%20Artists/David%20Amram/David-Amram.htm http://www.fmp.com/amram/ 1933 - The movie The Invisible Man opened to audiences. Actor Claude Rains made his film debut in it. http://www.amazon.com/exec/obidos/tg/detail/-/6300185281/ 104-3191958-8595946?v=glance 1935-trombone/French horn player Roswell Rudd born, Sharon, CT http://www.mindspring.com/~scala/rudd.htm http://www.geocities.com/BourbonStreet/3420/revrudshcep.html 1938 - Orchestra leader Kay Kyser, spoke to a College of the City of New York (CCNY) audience about the "inner workings and artistic features of swing music." It was the first of a series of lectures on swing music given by Kyser, who went on to radio to present "The Kollege of Musical Knowledge". 1938 –Guitarist/singer Gordon Lightfoot born Orillia, Ontario, Canada. His biggest hit is the million-selling No. 1 single "Sundown" in 1974. http://gordonlightfoot.com/GordonLightfootBiography.shtml 1941 - Less than a month before Pearl Harbor, Japanese Prime Minister General Tojo outlined a three-point plan he said was aimed at peace in East Asia. 1941 - Ernst Udet, WWI flying Ace, head of the German Luftwaffe Ordnance Department, commits suicide after disagreements with the Nazi leadership. http://www.spartacus.schoolnet.co.uk/FWWudet.htm http://www.acepilots.com/wwi/ger_udet.html 1944-Birthday of Baseball Hall of Fame pitcher George Thomas “Tom” Seaver, Fresno, CA. 1947-Sam Donahue cuts “Sax-O-Boogie,” Capital 1508. http://www.amazon.com/exec/obidos/ASIN/B0000665AJ/inktomi-musicasin-20/ ref%3Dnosim/104-3191958-8595946#product-details 1948-Howard Dean birthday, presidential candidate and Governor of Vermont (D), born East Hampton, NY 1948---Top Hits Buttons and Bows - Dinah Shore On a Slow Boat to China - The Kay Kaiser Orchestra (vocal: Harry Babbitt & Gloria Wood A Tree in the Meadow - Margaret Whiting One Has My Name (The Other Has My Heart) - Jimmy Wakely 1949-The first transatlantic airplane flight carrying 100 people was “The Champ,” a four-engine Air Force C-47, Globemaster 82 tons, built by the Douglas Company, Santa Monica, CA. It was commanded by Captain John M. Kelly of west Palm Beach, FL. The plane took off at 3:35pm from Mobile, AL with 103 persons aboard, including 90 Air Force replacement personnel and a crew of 13. It landed at Marham, England, at 7:305pm on November 18. Total flying time was 23 hours. 1952 - Hawaii's first television station, KONA in Honolulu, began operation. 1953 - No. 1 Billboard Pop Hit: "Rags to Riches," Tony Bennett. 1953 - The temperature at Minneapolis, MN, reached 71 degrees, their warmest reading of record for so late in the autumn. 1954 - Golfer Arnold Palmer turned professional when he signed a contract with Wilson Sporting Goods. 1955 - an early cold wave finally comes to an end in Helena, MT after 138 consecutive hours of sub-zero temperatures. The lowest temperatures during that spell was -29 1956---Top Hits Love Me Tender - Elvis Presley The Green Door - Jim Lowe Singing the Blues - Guy Mitchell Singing the Blues - Marty Robbins 1962- President Kennedy dedicates Dulles International Airport outside Wash DC http://www.metwashairports.com/Dulles/history.htm 1964- The Mets sign Yogi Berra to a two-year contract as a coach. 1964---Top Hits Baby Love - The Supremes Leader of the Pack - The Shangri-Las Come a Little Bit Closer - Jay & The Americans I Don’t Care (Just as Long as You Love Me) - Buck Owen 1965 - No. 1 Billboard Pop Hit: "I Hear a Symphony," The Supremes. 1965-Baseball owners elected William D. “Spike) Eckert Commissioner of Baseball to replace the retiring Ford Frick. Eckert, a retired Air Force general and comptroller of the Air Force, proved to be a poor choice. He was removed from office in 1969. 1968—The Heidi Game. Certainly John Madden on “Monday Night Football” will mention this tonight. NBC Television cut away from the broadcast of a football game between the Oakland Raiders and the New York Jets with several minutes remaining on the clock in order to being a special production of “Heidi” on time. After the special began, the Raiders scored two touchdowns in the final minute to earn a 43-32 comeback victory. Football fans deluged NBC with telephone calls, and networks eventually decided to delay the start of regular programming if athletic events ran over their allotted time. http://www.nfl.com/news/mostmemorable10.html 1970 - On the former WABC-FM in New York, Elton John recorded an album live, marking the first time a concert was aired live while it was being recorded for release. It was titled, "11/17/70". http://www.amazon.com/exec/obidos/ASIN/B000001EGI/inktomi-musicasin-20/ ref%3Dnosim/104-3191958-8595946 1971-Rod Stewart & the Faces release A Nod Is As Good As A Wink To A Blind Horse, their third LP together. The group scores its biggest hit, "Stay with Me," which hits #17. The LP does make it to the Top Ten. 1972---Top Hits I Can See Clearly Now - Johnny Nash I’d Love You to Want Me - Lobo I’ll Be Around - Spinners My Man - Tammy Wynette 1973 - President Nixon told an Associated Press managing editors meeting in Orlando, Florida, that "people have got to know whether or not their president is a crook. Well, I'm not a crook." 1975 - No. 1 Billboard Pop Hit: "That's the Way (I Like It)," KC & the Sunshine Band. 1978-Linda Ronstadt's anthology album "A Restrospective" becomes her eighth gold album. 1980---Top Hits Lady - Kenny Rogers The Wanderer - Donna Summer Another One Bites the Dust - Queen Could I Have This Dance - Anne Murray 1980 - John Lennon's Grammy-winning "Double Fantasy" two-record set is released. 1980 - Roger Mudd started work as NBC's chief Washington correspondent. Mudd left CBS after being passed over as a replacement for Walter Cronkite’s on "The CBS Evening News". Today he announces for “The History Channel” and is an author of several books. http://www.allbookstores.com/browse/Author/Mudd,%20Roger 1981 - On ABC's daytime drama, "General Hospital," Luke Spencer married Laura Baldwin in what was called "the wedding of the year". A television audience of 14 million viewers watched as they exchanged vows. The television couple would divorce in 2001. http://abc.go.com/daytime/generalhospital/ http://soapzone.com/gh/ 1982- NFL Strike Ends: NFL players, on strike for two months, ended their walkout, but the season, originally set for 16 games, had to be cut to nine games. The regular play-off arrangement was also scrapped, replaced by a special Super Bowl Tournament involving the 16 teams with the best records. 1984 - Ten weeks after its first appearance in the Hot 100 at number 80, Wham!'s single, "Wake Me Up Before You Go-Go" reaches the No. 1 spot. George Michael and Andrew Ridgeley hold their lead for three weeks. 1985- Bhagwan with his Oregon sex cult dismantled and his ninety-three Rolls Royces sold off after his arrest for violating US immigration laws and bioterrorist followers busted for poisoning town-folk, Bhagwan Shree Rajneesh is deported to India where he dies in 1990. http://www.apologeticsindex.org/b40.html http://www.skepticfiles.org/cultinfo/rolls.htm http://www.empnet.com/imageworks/Raj1.htm http://www.quackwatch.org/11Ind/gordon3.html http://www.cnn.com/2002/US/West/12/21/cult.plea.ap/ http://www.religioustolerance.org/rajneesh.htm http://www.stelling.nl/simpos/bhagwan_shree_rajneesh_osho.htm 1988---Top Hits Wild, Wild West - The Escape Club The Loco-Motion - Kylie Minogue Bad Medicine - Bon Jovi Runaway Train - Rosanne Cash 1988 - Another in a series of storms brought heavy snow to the mountains of the western U.S. Totals ranged up to 17 inches at Bob Scott Summit in Nevada. Winds around Reno NV gusted to 80 mph. The Alta and Sundance ski resorts in Utah received 14 inches of snow. 1989 - Freezing temperatures overspread the southeastern U.S. in the wake of the severe weather outbreak of the previous two days. Eight cities reported record low temperatures for the date, including Gilbert AR with a reading of 8 degrees. A fast moving storm blanketed the Great Lakes Region and Upper Ohio Valley with snow during the night. Totals ranged up to 12 inches at Pellston MI and Little Valley NY. 1993---Top Hits I'd Do Anything For Love (But I Won't Do That)- Meat Loaf Again- Janet Jackson All That She Wants- Ace Of Base Gangsta Lean- DRS 1995 - Directed by Rob Reiner, The American President opened in United States theaters. The comedy-drama about a widowed US president and a lobbyist who fall in love, starring Michael Douglas, Annette Bening, Martin Sheen, and Michael J. Fox, did very well at the box office. The film was nominated for five Golden Globe awards, including Best Picture and Best Director. 1997- San Francisco 49ers retire Joe Montana's #16 http://www.msnbc.com/news/994953.asp?cp1=1 1998 - Retailers in the U.S. are hit with a wave of superstar releases on what the industry dubs "Super Tuesday." Among the sets released are Garth Brooks' "Garth Brooks: Double Live," Whitney Houston's "My Love is Your Love," Mariah Carey's "#1's," Jewel's "Spirit," and three soundtracks associated with the animated film "The Prince of Egypt." 1998---Top Hits Doo Wop (That Thing)- Lauryn Hill Lately- Divine Because Of You- 98 Degrees The First Night- Monica 2000- Pittsburgh catcher Jason Kendall signs the richest contract in Pirates' history. The $60 million, six-year contract extension, which includes a $4 million signing bonus, starts with a base salary of $6 million in 2002 and peaks at $13 million in 2007. |
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