Leasing News

For those who missed Scott Wheeler’s excellent
“Preparing for the Calm after the Storm” which appears
in “Sales makes it Happen,” I recommend you read and think about
it seriously over the Thanksgiving holiday weekend.
Kit Menkin, editor

Classified Ads---Syndicator

Chicago, IL
Syndicator with 20+ years experience in selling or buying one-off leases and portfolios. Price, structure, negotiate and document transactions.
Full time position or contract work.
Email: tpschmuker@yahoo.com
Resume

Orange County, CA
10 yrs. exp. middle market credit underwriting/syndication/collections. All collateral. Seeking full-time position with equipment broker/lessor. Resume available
uspostalservice@verizon.net

Overland Park, KS
Top Syndicator from single deal to portfolios. 20+ yrs exp. Available for contract work or full time position. Nationwide contacts.
E-mail: FFLLeasing@aol.com

For a full listing of all “job wanted” ads, please go to:http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Other e-Mail Posting Sites:
http://www.leasingnews.org/Classified/Posting_sites.htm

FDIC Insurance in the Red/Lending down 2.8%
by Christopher Menkin

Lending by U.S. banks plunged by 2.8 percent in the third quarter, the largest drop since at least 1984 and the fifth consecutive quarter in which banks have reduced lending.

The Banking Third Quarter report shows the insurance fund went into the red as the number of banks on the regulator's list reached 552, the highest level in 15 years.

The insurance fund balance was like many of the banks they had put up for sale, but a lot worse, $8.2 billion negative, reflecting a $38.9 billion contingent loss. The numbers give credence to why all insured banks are contributing three years contribution in advance, but taken on their banks on a chronological basis.

More than 26 percent of all insured institutions reported a net loss in the latest quarter, up slightly from nearly 25 percent a year earlier.

Commercial banks and savings institutions insured by the FDIC reported aggregate net income of $2.8 billion in the third quarter of 2009, but loan balances declined by the largest percentage since quarterly reporting began in 1984. Quarterly earnings were more than three times the $879 million the industry earned a year earlier and represented an improvement over the industry's $4.3 billion net loss in the second quarter of 2009.

Recently the FDIC approved a one time three year payment in advance by FDIC financial members to overcome the deficit and protect insured deposits

Commenting on the largest percentage decline since quarterly reporting started in 1984, FDIC Chairman Sheila Bair said the FDIC said. "We need to see banks making more loans to their business customers.

"For now, the credit adversity we have been discussing for some time remains with us, and we expect that it will be at least a couple of more quarters before we see a meaningful improvement in that trend."

This means credit will remain tight as banks scurry for margins as well as solid leases and loans. In past years, a high interest rate slowed businesses from acquiring equipment or expanding, but with banks in poor condition across the country, lease and loan credit has dried up except for high risk, high margin transactions.

Banks with zero interest have lost their margin spreads. In addition, the increases insurance fee comes at a poor time for many small community banks, eating up their profit, as Leasing News’ Bank Beat has been reporting.

The reaction in business surveys, such as the one by the Equipment Leasing and Finance Association that follows this, is a reflection that many banks have not only raised credit criteria, but are quite concerned about their own survival. With unemployment rising, even better credits are having difficulty paying their mortgages, credit card and automobile payments. With less cash, and fear of extending whatever credit available, consumer confidence is down and most business feel the loss of customer purchasing, including leasing.

It does not look like a Merry Christmas for the finance and leasing industry. Let’s all hope Thanksgiving brings cheer to families getting together and the courage to hit the bricks harder come Monday.

Please read Scott Wheeler’s “Preparing for the Calm after the Storm” in this issue.

3rd Bank Quarterly Report:
http://leasingnews.org/PDF/3Q_Bank_Profile2009.pdf

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

ELFA MFLI-25: Business is “Slow”

(Leasing News chart)

September to October new business fell from $4.7 billion to $4.3 billion, but as the chart shows has been basically flat all year, and when compared to last year, off 32.8%, according to the Equipment Leasing and Financial Association monthly MFLI-25 survey of 26 leasing companies and financial institutions.

Reports from SEC filings indicate leasing business from banks, financial institutions, captive lessors is off 50% and more, so the MFLI-25 is more optimistic. The national media took the MFLI-25 numbers, such as the Wall Street Journal: Capital Equipment Financing Down 33% In October - Survey and Reuters: Businesses still cautious on borrowing.

The MFLI-25 press release quotes Steve Grosso, President and Chief Operating Officer, CoActiv Capital Partners, Inc. “The industry continues to work hard on qualitative objectives, including portfolio delinquency, charge-offs and improving credit underwriting.”

“With capex and new business volume continuing to lag, it is expense control and portfolio management that are driving bottom-line performance. There continue to be opportunities for those with capital to deploy it with better margins than seen in the last 25 years.”

The following are ELFA charts:

click here for larger image

ELFA MLFI-25 Participants:
ADP Credit Corporation
Bank of America
Bank of the West
Canon Financial Services
Caterpillar Financial Services Corporation
CIT
De Lage Landen Financial Services
Dell Financial Services
Fifth Third Bank
First American Equipment Finance
GreatAmerica
Hitachi Credit America
HP Financial Services
John Deere Credit Corporation
Key Equipment Finance
Marlin Leasing Corporation
National City Commercial Corp.
RBS Asset Finance
Regions Equipment Finance
Siemens Financial Services
Susquehanna Commercial Finance, Inc.
US Bancorp
Tygris Vendor Finance
Verizon Capital Corp
Volvo Financial Services
Wells Fargo Equipment Finance

"It is so slow..." Contest

Main winner gets a bottle of vintage Duckhorn Merlot
or South San Francisco See's 2lb Chocolate with runners up also receiving 1lb box.

Best one lines sent in so far, in chronological order:

“It is so slow … that the fax machine toner keeps drying out.”
“It is so slow … that my computer keeps going into sleep mode.”

Paul J. Menzel, CLP
President & CEO
FINANCIAL PACIFIC LEASING, LLC

“It’s so slow that I’m thinking of engaging Sheldon Player for some business.”

Erik Heidotting
Summit Funding Group
Cincinnati, OH 45249

“It is so slow that I opened a bottle of cabernet on the 4th of July
to give it time to breath for Thanksgiving.”

Paul A. Jerominek
BMR Equipment Finance

“Things are so slow that I decided to do collection work on my deals in the hopes of finding a repeat lessee.”

Alex Alonso
Bullseye Financial Services
Miramar, Florida

“It is so slow, yesterday I saw a rabbit chasing a dog…and they were both walking.”

Bud Welborn

“It’s so slow my parents haven’t even met yet”

Joe Dababnih
Commercial Capital Associates, Inc.
Laguna Beach, CA 92651

"It's So Slow... the ELFA has decided to hire Benny Judah, Sheldon Player, and the Salzano brothers to form a special Political Action Committee to figure out creative ways to get the credit markets turned back on..."

Michael Gregan
De Lage Landen Financial Services, Inc.
Wayne, Pennyslvania

“It's so slow that it is like watching molasses going uphill in winter.”

Val Malzewski
VM Leasing Services

(These were the top ones received to date. The Molasses one from Val was sent in several times, but after his. Editor)

To enter the contest, send your one line “It is so slow…” to
kitmenkin@leasingnews.org

Sales makes it Happen—by Scott Wheeler

With over twenty-six years of leasing experience and an Executive Masters in Business Administration, Scott is an accomplished senior leasing executive with leadership qualities in marketing and operations. His extensive experience will benefit organizations looking to reach a higher level of profitability and corporate development.

Preparing for the Calm after the Storm

Many describe the past year as the perfect storm against our economy and the commercial equipment financing and leasing industry. However, your fellow originators have begun to prepare for the future and the calm after the storm. It has become obvious, the new economy will be different than the business environment of years past – the light switch is not just going to be turned on and everything return to the way it was fifteen or eighteen months ago. Our business will be different, funding will be supplied by different sources, the demand for capital equipment will come from new customers and financing/leasing originators are repositioning themselves to take advantage of the new opportunities which are beginning to surface.

Our industry may very well face more new opportunities than we have experienced in over a decade. These opportunities are not going to be "get rich quick" opportunities or be realized by the masses. However, for those who are well positioned and well versed in all aspects of the industry, these opportunities are already proving to be significantly beneficial and profitable for those entities and individuals who are willing to embrace the economic changes of the future.

Individuals and companies are expanding their capabilities, their industry niches, their funding partners, their syndication departments, their equipment niches, their product offerings, their marketing efforts, their credit capabilities and their overall industry knowledge. These changes are not being taken lightly or haphazardly – savvy professionals are doing their homework and entering new areas of our industry with their eyes wide open and with the confidence that they are improving their businesses with the proper tools to succeed.

For those who remain in the industry and are willing to look forward rather than to the past, the next few years will provide an abundance of opportunities. There will be new entries to compete against and new money supplied by new sources. The credit requirements will remain tight and yields will most certainly increase – changes which will reflect the free market at work. Small and medium size businesses will be forced to replace aging equipment and new equipment acquisitions will be required to promote innovation and growth in the new economy. Our products will be greatly needed, and professional financing/leasing originators who are offering superior service and creative products will surely be in great demand.

Now is the time to prepare for the calm after the storm. It's the time to build a strategy based upon the future, sustainable growth, and new opportunities. The storm is passing -now it's time to rebuild a better stronger industry. The individuals and companies who properly lead the charge will realize the greatest rewards.

Please let me know your thoughts, suggestions or ideas.
scott@wheelerbusinessconsulting.com or 410-877-0428.

Sales Makes it Happen articles:
http://www.leasingnews.org/Legacy/index.html

Classified Ads---Help Wanted

Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k), 4) Aggressive Commission Structure.
Resumes To: careers@envisioncapitalgroup.com, Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employees, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.

Seeking 2 Years + Experience, Vendor Focus Preferred
Well Established Funding Sources
Nearly 15 Years Reputation for Performance
Large Commission Structure
with the Right Book of Business

Confidential Interview: Sarah Weston
Resume: jobs@taycor.com, (310) 895-7718

Interviewing Experienced Leasing Salespeople
With Ability to Develop Vendor Relationships
52 year old, Family- owned, Self Funded,
Small Ticket Company

Resumes to: tgalvin@clune.net
www.clune.net

Vendor/Dealer Leasing Professional, generous commission's package that can lead to base salary and benefits. Join a sales team that has all the right sales tools for developing a successful vendor program in many different industries.

Chris Chiappetta, Phone: 800-669-7527 ext. 1208,
chris@netlease.com

National Machine Tool Financial Corp., funding vendor
programs since 1986. We offer competitive rates and a
credit staff dedicated to vendor programs.
www.netlease.com

5 years experience with established vendor relationships. We offer great funding capacity for transactions $10k to $10MM. Quail Company's established for over 30 years. Submit resume to: jrudin@quailcap.com

About the company: Quail Equipment Leasing 17 years in business with the ability to develop specialized programs for vendors and unique industries: $10K to $10MM.

www.quailequipmentleasing.com

Pease see our Job Wanted section for possible new employees.

City Business License Enforcement

(now required in 50 states)

A new twist in the license to do business in a city has taken hold. Cities, counties, states, and other regulatory agencies have laws on the books they have not been enforcing, but due to the extreme need for money, they have entered into a cooperative avenue via the use of computers.

Cities have raised license fees, as well as fines, and the latest is checking IRS “Schedule C” tax returns names and addresses against city records for Fictitious Name Filings and business license requirements.

What is new is not only the enforcement, but fines, plus going back years in business operating without a license. If you don’t have a license now, you better get one.

In putting the various Leasing News list, Leasing News not only asks for state licenses, but city businesses licenses as well. It is surprising that many professional businesses have neither.

There are some states that make those licenses elsewhere exempt, such as attorneys, banks, CPA’s, financial institutions, physicians. Others don’t have such an exception.

Most also require a license for each city the business enters to do business, such as a painter, plumber, even Rotor Rooter. Many have ignored this in the past, although the fines and penalties now make it advantageous for further inspection.

If a business is domiciled, most cities require a fire inspection of the business; sometimes even working out of a home. While this is not that common, filing out a form for information is expected and it contains a lot of information. A sample of the San Francisco and San Jose forms are at the end of this article, as well as states who require financial licenses to conduct capital or finance leases (some states differentiate.)

If conducting business under a fictitious name, a county form is required, and if paying another party a fee or a non-corporate entity, a Federal Identification is also required. Cities, counties, and states are now cross checking not only “Schedule C” but Federal ID against business license lists. Its all done by computer, so there is actual little labor except for the enforcement, which the government entities are in desperate need.

San Francisco Business License Application:
http://leasingnews.org/PDF/SF_Business_License_Application.pdf

San Jose Business License Procedure:
http://leasingnews.org/PDF/SJ_Business_License.pdf

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

Operation Lease Fleece Winter Up-Date

The famous Bad Boy of Leasing Jim Raeder

February 19, 2008 James Raeder pled guilty 18:1343: Wire Fraud before Judge Cormac J. Carney. Sentencing set for 1/4/2010 before Judge Cormac J. Carney. Documents sealed.

Readers ask periodically when are Mark McQuitty and Jim Raeder of CapitalWerks going to jail.

The notorious man behind the scenes Mark McQuitty

Adam Zuckerman, the man who told Leasing News it was his idea

November 7, 2007 the FBI investigation dubbed "Operation Lease Fleece" officially filed charges against 23 for their roles in a fraud scheme that allegedly caused more than $20 million in losses to several leasing companies and banks that believed they were financing equipment leases. First, that was the dollar amount at the time, as other defaults have brought new cases and charges. According to the records, many were arrested on October 18, 2007.

There have been two additional arrests since that date, and authorities say there are more coming, thus they have been postponing sentencing dates as sealed documents then become available to the public. It is interesting to note that Adam Zuckerman sentencing date has been postponed the longest: July 19, 2010.

Sentencing has again been postponed and instead of going through the list, Jim Raeder who was scheduled for sentencing 1/4/2010 before Judge Cormac J. Carney has been continued to 4/12/2010 10:00 AM before Judge Cormac J. Carney. (rla) (Entered: 11/24/2009)

Evidently the FBI and US Attorney General's office consider the case active.

"Operation Fleece" "A Cautionary Tale" by Hemar, Rousso & Heald
http://www.hemar-rousso.com/CM/Newsletters/winter_2008.pdf

Last Full Leasing News Up-date:
http://www.leasingnews.org/archives/July%202009/07-17-09.htm#operation_lease_fleece

(1) Part II-"Inside Lease Fleece"--- by Christopher Menkin
http://www.leasingnews.org/archives/February%202008/02-25-08.htm#p2

(2) Adam Zuckerman: the man behind Lease Fleece?http://www.leasingnews.org/archives/February%202008/02-14-08.htm#fleece

Weak sales and too much production capacity may push the U.S. auto industry into an "airline-style" cycle of repeat bankruptcies, according to Fitch Ratings. Like the airline industry, the auto sector - including suppliers - will wrestle with "boom and bust cycles without the boom," Fitch said in a report.

Chronic overcapacity, extended periods needed to develop products and high fixed costs will leave the industry littered with failures, impacting plants, product lines, brands and companies, the report continued.

The outlook was one of the rating agency's starkest reviews yet on an industry battered by recession, slow-selling products and crushing labor and retiree costs. Even in peak conditions, companies will not generate enough cash to repair their balance sheets, leaving them vulnerable to severe financial stress in downturns, the agency said.

Cash-for-clunkers, a government auto scrapping program meant to bolster sales, had a negligible impact on sales volumes this year but has helped improve the used car market by getting rid of older vehicles, Fitch said. The program also pulled forward some demand, generating some much-needed revenue for the crippled supply base, likely forestalling even more supplier bankruptcies, Fitch said.

Fitch is forecasting a 7.8% rise in U.S. light vehicle sales next year to 11.1 million units. Even that rebound, however, will leave much of the industry burning cash in 2010, the agency said.

With about $125 billion in government support already doled out for the auto industry, more aid may be extended given the prospect for weak sales, Fitch said. General Motors GM.UL and Chrysler, which were both restructured with government capital, will not be in a position to access the equity markets in 2010, Fitch said.

"A number of suppliers have emerged from bankruptcy with untested business models and capital structures, which have and may result in double-dip bankruptcies," Fitch said. "The manufacturers could also fall into the same pattern."

Ford Motor Co., the only automaker not to receive a government bailout, has improved its liquidity and addressed refinancing risk, Fitch said. Its access to bank loans, unsecured debt and the equity markets for now give it a competitive advantage over Chrysler and GM, Fitch said.

"Ford is best positioned from a production and product standpoint to further strengthen its balance sheet," while GM and Chrysler are still restructuring and face a more difficult road toward independently access capital, Fitch said.

Fernando's View
By Fernando F. Croce

Special Thanksgiving Edition:

There may be no shortage of Christmastime classics, but when it comes to Thanksgiving, folks are often stumped when it’s time to watch a movie with the family. When looking for seasonal movies to watch with your family, a great tip is to visit the official Netflix blog and search for discussion boards on holiday movies. By getting in contact with fellow movie buffs, you may be able to discover titles you never heard about before. In the meantime, here are some savory choices to go with your turkey gravy and pumpkin pie.

Planes, Trains & Automobiles (John Hughes, 1987): Steve Martin and John Candy make a splendid odd couple in this hilarious and ultimately poignant comedy from director John Hughes (“The Breakfast Club”). Smooth advertising exec Neal (Martin) and brash salesman Del (Candy) make unlikely traveling companions, but when their flight is grounded by snow, the two are stuck on a madcap road trip. Can they make it home in time for Thanksgiving—or, more to the point, before they kill each other? There are several memorable jokes and characters along the way, but what makes the film such an enduring treat is the expert chemistry between Martin and Candy.

A Charlie Brown Thanksgiving (Bill Melendez & Phil Roman, 1973): No holiday gathering is complete without a visit from the Peanuts gang. In this short but delightful animated TV special, Charles M. Schultz’s characters come to face such Turkey Day challenges as getting the family together and getting the right meals cooked. When Peppermint Patty and friends invite themselves over to Charlie Brown’s house, he must whip up a holiday special even though he’s supposed to be going to his grandmother’s house. Throw in lessons about what Thanksgiving really stands for and Snoopy and Woodstock in pilgrim costumes, and you have a tip-top Peanuts feature.

Home for the Holidays (Jodie Foster, 1995): Hold do families manage to survive Thanksgiving? That’s what Claudia (Holly Hunter) wonders as she drives home to spend Turkey Day with her squabbling relatives. There’s her frazzled mom (Anne Bancroft), increasingly erratic father (Charles Durning), wacky brother (Robert Downey, Jr.), and more pesky in-laws and former boyfriends that she can shake a stick at. Anyone who’s ever been driven crazy by family gatherings will enjoy director Jodie Foster’s tart comedy-drama, which balances out seasonal sweetness with a dose of vinegar and, in between laughs, may help you appreciate your own family a bit more.

The Ice Storm (Ang Lee, 1997): Family has always been one of versatile director Ang Lee’s concerns, a concern that he examines in this sensitive, beautifully acted portrait of tensions and secrets emerging in suburban Connecticut during the Thanksgiving weekend. The year is 1973, and the Hood and Carver families are struggling not to spin out of control in the face of national crisis. Will the festivities bring them together, or will their troubles merely grow larger? A melancholy but thoughtful and ultimately hopeful tone and splendid performances from a first-rate cast (including Kevin Kline, Joan Allen, Sigourney Weaver and Christina Ricci) make this a must.

Pieces of April (Peter Hedges, 2003): After years of writing screenplays about lovable eccentrics, Peter hedges (“What’s Eating Gilbert Grape?”) graduated to directing with this gently oddball comedy about family ties being tested by such challenges as cooking a turkey. April (Katie Holmes) is a scrappy young woman scrambling to get her low-rent New York apartment in shape for a Thanksgiving dinner with her folks. While she tries to figure out how to work her kitchen, her parents (Patricia Clarkson, Oliver Platt) endure a struggle of her own, namely getting the whole family down to the city in one piece. Filled with quirky laughs and moments of unexpected human connection, it’s a perfect choice for audiences looking for heartwarming entertainment.

   1602-Explorer Sebastián Vizcaíno gave Santa Catalina Island its present name. In 1542, Juan Rodríguez Cabrillo, the first European explorer to encounter the island, referred to it as San Salvador. When Vizcaíno sheltered on the island in 1602 he renamed it Catalina, in honor of the feast day of Saint Catherine of Alexandria.
http://memory.loc.gov/ammem/today/nov25.html
   1715-An English patent was granted to a resident of America, to “Thomas Masters, Planter of Pennsylvania, for an invention found out by Sibylla his wife for cleaning and curing the Indian Corn growing in several colonies in America.” Sybilla, who divided her time between England and the United States did not receive English Patent #401 for her machines and methods for preparing Indian corn. It went to her husband Thomas because of the strictures against women. The patent documents clearly state Sybilla invented the process and her signed drawings show the method of operation. She also invented a method for using palmetto leaves to make hats, the patent again going to her husband, who formally acknowledged her as the inventor. On July 15, 1717, the State of Pennsylvania granted Sybilla patent rights in her own name.
http://inventors.about.com/library/inventors/blmasters.htm
http://www.uh.edu/admin/engines/epi326.htm
  1742- In New York, David Brainerd, 24, was approved as a missionary to the New England Indians by the Scottish Society for the Propating of Christian knowledge (SPCK). Brainerd worked heroically for Apr 1743 to Nov 1746, before advancing turbeculosis forced him to relinquish his work. (He died in October 1747.)
   1758 - In the French and Indian War, the British captured Fort Duquesne in present-day Pittsburgh. On November 24, the French commander recognized that he faced total disaster if he were to resist. Under the cover of night, the French withdrew from Fort Duquesne, set it afire and floated down the Ohio River to safety. The British claimed the smoldering remains on November 25 and were horrified to finds the heads of some of Grant’s Highlanders impaled on stakes with their kilts displayed below.
    1783-Although Cornwallis' surrender at Yorktown in the Fall of 1781 marked the end of the Revolutionary War, minor battles between the British and the colonists continued for another two years. Finally, in February of 1783 George III issued his Proclamation of Cessation of Hostilities, culminating in the Peace Treaty of 1783. Signed in Paris on September 3, 1783, the agreement--also known as the Paris Peace Treaty--formally ended the United States War for Independence. The news was sent by ship, preparations made, and this day, Britain evacuates NY, their last military position in US. This was a great day of celebration in the city. By this time some 100,000 Loyalist had fled. Also known as Tories, they had suffered various penalties for their loyalty to the Crown, including confiscation of property, removal form public office, and punitive taxation. Probably no more than 10% of the colonials were Tories, who were generally well-do-do, engaged in commerce or the professions, or public officials. Many fled to Canada, some to England.
    1832-Birthday of Mary Edwards Walker, American physician and women’s right leader, born at Oswego, New York. She was the first female surgeon in the US Army (Civil War). She spent four months in Confederate prison. The first and only woman to ever receive the Medal of Honor ( November 11,1865). Two years before her death, on June 3, 1916, a government review board asked that her award be revoked. She continued to wear it, in spite of official revocation, until her death February 21,1919 at Oswego. On June 11, 1977, the secretary of the army posthumously restored the Medal of Honor to Dr. Walker.
    1835-Birthday of American financier, philanthropist, and benefactor of more than 2,500 libraries, born at Dunfermline, Scotland. Carnegie Hall, Carnegie Foundation and the Carnegie Endowment for International Peace are among his gifts. Carnegie wrote in 1889, “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community...The man who dies...rich dies disgraced.” Carnegie died at his summer estate, “Shadowbrook, MA., Aug 11,1919 (Coda: There was no income tax deduction or financial purposes at the time for his gifts.)
     1841 - The rebel slaves who seized a Spanish slave ship, the Amistad, two years earlier were freed by the US Supreme Court despite Spanish demands for extradition. John Quincy Adams (74), former US president, defended “the Mendi people,” a group of Africans who rebelled and killed the crew aboard the slave ship Amistad, while en route to Cuba. They faced mutiny charges upon landing in New York but Adams won their acquittal before the Supreme Court. In thanks they bestowed to him an 1838 English Bible. In 1996 the Bible was stolen from the Adams National Historic Site in Quincy, Mass.
    1841 - 35 Amistad survivors returned to Sierra Leone, Africa.
    1846-Birthday of Carry Amelia Moore Nation, American temperance leader, famed as hatchet-wielding smasher of saloons, born at Garrard County ,KY. This American temperance leader would take a band of women into a saloon and destroy it with her hatchet. Some had concerns over her sanity and there were many public comments on her emotional instability. She was NEVER - NEVER a leader in the women's temperance movement – and history viewed her as a loose cannon. Nation -- a 6-foot-tall Kansan who believed God wanted her to stamp out demon rum -- and her fellow crusaders knew the value of publicity. Leigh Weimers relates this story of her visit in 1903 to San Jose. Nation's advance man G.R. Ray offered money to local saloonkeepers if they would allow Nation in their premises (a photo op, even then). So, following a public lecture at which she railed against alcohol, Nation entered the Auzerais Hotel saloon where, Douglas notes, ``she exhibited her disdain for liquor by knocking the glasses of whiskey from the hands of some of the men.'' Then, followed by a crowd of onlookers, she headed for the nearby Louvre saloon, where owner Louis Hobbs was waiting. Hobbs hadn't taken the advance man's money. He broke through the crowd, cursed Nation and punched Ray, bloodily breaking his nose. The crowd broke up the Louvre. Nation got the publicity, but not the cash support she was after. ``It appears that the crowds were more concerned with causing trouble than with hearing her message,'' writes Douglas. And Nation left town, as unsuccessful in altering people's desire to alter their moods as everyone has been before or since. Died at Leavenworth, KS, June 9, 1911.
    1849-Franklin A. Buck wrote to his sister "to turn around and go right back again like some persons who have been here and gotten homesick." Just twenty years old, Buck left his job in New York and set sail for California the previous January. The young man was one of 40,000 people who traveled to California by sea during the gold rush of 1849. He arrived in the boom town of Sacramento City in October. With partners, Buck opened a supply store. Business was brisk.
    1862-A sarcastic President Lincoln wires General George McClellan: "I have just read your dispatch about sore tongued and fatiegued [sic] horses. Will you pardon me for asking what the horses of your army have done since the battle of Antietam that fatigue anything?" Lincoln was nearly out of patience with McClellan. The president had ordered him to pursue Confederate General Robert E. Lee into Virginia after Antietam on September 17, but McClellan dallied for more than a month. A little over a week after sending this message, Lincoln replaced McClellan with Ambrose Burnside.
    1863- The place was a small ridge overlooking Chattanooga, Tennessee. From the one-thousand foot heights of Missionary Ridge Confederate General Braxton Braggs' soldiers trained their artillery on the city below. Major General Ulysses S. Grant and his men had pitched their tents there, and now the soldiers were at the mercy of those relentless cannon. Trapped and faced with starvation and annihilation, the Union troops had lost so many horses that they couldn't even mount an artillery battery in their defense. It was a frustrating feeling of helplessness and imminent disaster, compounded by the winter drizzle and ominous skies. Major General William Sherman had mounted an attack to the right and was quickly stalled. Under pressure of the enemy he requested a feint elsewhere to relieve his embattled troops. It wasn't intended to be a major offensive, such was an improbable military operation. The reserve troops were simply to attack the center of the Confederate lines at the base of Missionary Ridge to draw attention away from Sherman. The battle for the gun pits was furious, soldiers fighting hand-to-hand and engaging each other with bayonet. As the Confederate soldiers were slowly defeated and the young Union soldiers gained control of the gun pits, they found themselves trapped at the base of the ridge by the cannon mounted above them. Their brief victory had turned into a nightmare of death. Watching from a distance General Grant's worst fears materialized as the withering fire threatened to destroy his valiant soldiers. "Pull back," he probably thought to himself, "retreat...get out of there before it is too late."

No thought had been given to attacking Missionary Ridge that day, Grant knew it would be suicidal. The move to the gun pits at the base of the ridge had simply been a token attack, designed to divide the enemy forces and provide some relief for Sherman's embattled soldiers. Yet suddenly, without orders, the 18,000 young men trapped in the gun pits rose to their feet and began to assault the enemy entrenched on the 1,000-foot slope. Angry at the suicidal offensive, Grant asked, "Who ordered those men up the ridge?" A subordinate replied that the attack had commenced without order. Chomping his traditional cigar and fearful of the worst Grant replied, "Well, it will be all right if it turns out all right."

Among the units advancing on the entrenched Confederate soldiers that day was the 24th Wisconsin Infantry. The unit detailed to advance the colors was led by an 18-year old First Lieutenant named Arthur MacArthur. When the soldier assigned to carry the battle flag of the 24th Wisconsin fell to an enemy bayonet, another soldier rushed forward to hoist the flag. The roar of cannon fire filled the ridge and the second color bearer fell, decapitated by a cannon ball. Bloody and wounded, Arthur MacArthur retrieved the colors himself. Raising the already battle-scared flag high he turned to his troops with the shout "On Wisconsin!" and proceeded up the ridge. As MacArthur reached the summit he firmly planted the staff of the flag in the ground. Below him the advancing soldiers saw their flag, battered and scarred, waving in the breeze at the top of the precipice. Their hearts filled with inspiration they surged forward, doing the improbable, achieving victory at Missionary Ridge.
    1865---the 7th National Woman's Rights Convention was held in New York City chaired by Lucy Stone. The progress report, made only EIGHT years after the first call for women's rights in the history of this nation in 1848, is startling. In her address Lucy Stone said: "Our first effort... where a few women were gathered, who had learned woman's rights by woman's wrongs...
"Never before has any reformatory movement gained so much in so short a time. When we began, the statute books were covered with laws against women... Now almost every Northern state has more or less modified its laws... "
    1865- Kate Gleason birthday, extraordinary businesswoman who as a salesperson in the late 1800's did the unthinkable: actually traveled by herself to sell her father's tool making products, even to Europe. When automobiles became the rage, Gleason turned her sales abilities to Detroit and she was so successful that she became the first woman member of several engineering groups. Later she became the president of a bank, turned a bankrupt tool making business into profit, and went into real estate, building and restoring housing areas. One of her plans included building low-cost homes in Sausalito, California. She developed several resort areas including Beaufort, SC.
http://www.strongmuseum.org/BHOF2002/Gleason.html
http://www.distinguishedwomen.com/biographies/gleason.html
http://winningthevote.org/KGleason3-big.html
http://www.rit.edu/~630www/
    1876- U.S. troops under the leadership of General Ranald Mackenzie destroy the village of Cheyenne living with Chief Dull Knife on the headwaters of the Powder River. At dawn, Mackenzie and over 1,000 soldiers and 400 Indian scouts opened fire on the sleeping village, killing many Indians within the first few minutes. Some of the Cheyenne, though, managed to run into the surrounding hills. They watched as the soldiers burned more than 200 lodges--containing all their winter food and clothing--and then cut the throats of their ponies The attack was in retaliation against some of the Indians who had participated in the massacre of Custer and his men at Little Bighorn. Although the Sioux and Cheyenne won one of their greatest victories at Little Bighorn, the battle actually marked the beginning of the end of their ability to resist the U.S. government. News of the massacre of Custer and his men reached the East Coast in the midst of nationwide centennial celebrations on July 4, 1876. Outraged at the killing of one of their most popular Civil War heroes, many Americans demanded an intensified military campaign against the offending Indians.
    1884-Evaporated milk was produced by John B. Meyenberg of St. Louis, MO, who received a patent for an “apparatus for preserving milk.” Evaporated milk is milk from which approximately 60 percent of the water has been removed by evaporation, which gave it a longer shelf life and less weight in transportation.
    1895- Helen Hooven Santmeyer birthday, author of And Ladies of the Club. When her book became famous, she was 92 and living in a nursing home. Her longtime companion, Mildred Sandoe, was also living in the same home. Santmeyer had written three books while young but became a librarian in her beloved small Ohio town instead.http://www.readinggroupchoices.com/html/reading_group_choices_96_9.html
   1897-Birthday of piano player extraordinaire Willie “The Lion” Smith, Goshen, NY.
http://www.redhotjazz.com/thelion.html
http://www.stridepiano.com/bios/gen1/lion.html
http://www.bbc.co.uk/radio3/jazz/jazzprofiles/wsmith.shtml
http://www.njn.net/artsculture/williethelion
   1909- the "Uprising of the Twenty Thousand," the strike of more than 25,000 women of the International Ladies' Garment Workers Union (ILGWU) that called for higher wages and better working conditions.
    1910-Birthday of alto sax player Willie Smith, born Charleston, SC.
    1914-Birrthday of Joseph Paul (Joe” DiMaggio, baseball Hall of Fame outfielder, born at Martinez, CA. In 1941, he was on “the streak,” getting hits in 56 consecutive games. He was the American League MVP for three years, was the batting champion in 1939 and led the league in RBIs in both 1941 and 1948. DiMaggio was married to actress Marilyn Monroe in 1954. He died at Harbour Island, Florida March 8, 1999.
    1915-Birthday of reedman Gus Bivona, born New London, CT.
    1919-Birthday of singer Joe “BeBop” Carroll, Philadelphia, P
http://www.allaboutjazz.com/reviews/r0598_09.htm http://www.rhino.com/features/tracks/72469trx.html
    1924—Birthday of alto player Paul Desmond (Paul Emil Brentenfield)http://www.interlog.com/~mirus/desmond/desmond1.html
http://www.birthscopes.com/paul_desmond.htm http://www.wnur.org/jazz/artists/desmond.paul/bio.html
    1928-Birthday of singer Etta Jones, Aiken, SC http://www.allmusic.com/cg/amg.dll?p=amg&sql=Bl2jb7i7jg72rhttp://www.allaboutjazz.com/reviews/r1100_039.htm
    1931-Birthday of cornet player Nat Adderley, Tampa, FL, Died Jan. 1,2000. http://airjudden.tripod.com/jazz/natadderly.html
http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=8401
    1941-Stan Kenton opens at Hollywood Palladium for five weeks. He had arrived!!!
    1947- Film industry executives announce that 10 directors, producers, and actors who have refused to testify before the House Un-American Activities Committee (HUAC) will be fired or suspended. The HUAC hearings were part of the "Red Scare" of the late 1940s and 1950s, during which Senator Joseph McCarthy and others hounded alleged communists, making unsubstantiated allegations against many innocent citizens and damaging many lives. Starting in the fall of 1947, HUAC held hearings to investigate rumored communism in the film industry. Numerous actors and executives, including Ronald Reagan, Robert Montgomery, Gary Cooper, and Walt Disney, testified. Some actors named others who allegedly belonged to the Communist Party. The hearings raised deep concerns about civil rights and freedom of expression, and some actors, including Humphrey Bogart, Lauren Bacall, and Gene Kelly, protested the hearings. Others refused to testify against their colleagues. Unfortunately, refusing to testify destroyed the careers of many actors, screenwriters, and others who were "blacklisted" (prohibited from working in the industry). The "Hollywood Ten," who refused to testify about their political affiliations, were not only fired or suspended without pay but also jailed and fined for contempt of Congress. Eventually, some 300 people were blacklisted, some on very slight evidence, and many careers were ruined. In fear for his career, Humphrey Bogart called his earlier protest against the HUAC hearings "ill-advised and even foolish." Among those named as communists were Dashiell Hammett, Lillian Hellman, Dorothy Parker, and Lloyd Bridges. Some blacklisted writers and directors were able to work in Hollywood under pseudonyms in later years-in fact, "Hollywood Ten" screenwriter Dalton Trumbo won an Oscar for his script for The Brave One, written under the pseudonym Robert Rich.
    1948---Top Hits
Buttons and Bows - Dinah Shore
On a Slow Boat to China - The Kay Kaiser Orchestra (vocal: Harry Babbitt & Gloria Wood
Hair of Gold, Eyes of Blue - Gordon MacRae
One Has My Name (The Other Has My Heart) - Jimmy Wakely
    1949 - "Rudolph, the Red-Nosed Reindeer" appeared on the music charts and became THE musical hit of the Christmas season. Although Gene Autry’s rendition is the most popular, 80 different versions of the song have been recorded, with nearly 20,000,000 copies sold.
    1950 - A great storm hit the Northern and Central Appalachians with snow and high winds. Winds reached hurricane force along eastern slopes of the Appalachians, with gusts to 100 mph at Hartford CT, 110 mph at Concord NH, and 160 mph at Mount Washington NH. Heavy rain also hit the eastern slopes, with eight inches reported at Slide Mountain NY. The western slopes were buried under heavy snow. The storm produced record snowfall totals of 27.7 inches at Pittsburgh PA, and 36.3 inches at Steubenville OH. The snow, and record cold temperatures, resulted in 160 deaths.
    1951-Birthday of sporstcaster, Pro Football Hall of Fame coach, Joe Jackson Gibbs, Mocksville, NC.    1955 - Following a summer at the top of the American pop charts, "Rock Around the Clock" by Bill Haley and His Comets became the #1 song in Great Britain.
    1956---Top Hits
Love Me Tender - Elvis Presley
Cindy, Oh Cindy - Eddie Fisher
Hey! Jealous Lover - Frank Sinatra
Singing the Blues - Marty Robbins
    1955- The Interstate Commerce Commission bans racial segregation in all facilities and vehicles engaged in interstate transportation., meaning buses and terminals. On December 1, Rosa Parks refuses to give up her seat in Atlanta, GA, citing this ban on racial segregation. Dr. Martin Luther King, Jr. joins her boycott and US history is changed from that date and act.
    1957- President Eisenhower suffers a mild stroke, impairing his speechhttp://www.doctorzebra.com/pre
http://www.healthmedialab.com/presmed/p4.htmlz/z_x34cva_g.htm
    1960 - Radio actors were put out of work when CBS radio axed five serials (soap operas) from the airwaves. We said so long to "The Second Mrs. Burton" (after 14 years), "Young Doctor Malone", "Whispering Streets" (after 8 years), "Right to Happiness" (after 21 years) and "Ma Perkins" (after 27 wonderful years.) In 1940, the high point for these radio programs, there were as many as 45 on the air each day!
    1960-Birthday of Amy Grant gospel singer (Glory of Love, Baby Baby) http://www.lifetimetv.com/shows/ip/portraits/0208/0208_index.html http://members.toast.net/Tac/amysongs.html
   1960-Birthday of John F Kennedy Jr lawyer, son of JFK. He and his wife along with some friends died in a plane crash in 1999.
http://www.webspresso.com/JFKjr.htm
http://www.geocities.com/Hollywood/Academy/1222/
http://www.webspresso.com/JFKjr.htm
    1963-President John F. Kennedy laid to rest at Arlington National Cemetery.http://www.americanpresident.org/kotrain/courses/JFK/JFK_Death_Of_The_President.htm
    1963-Birthday of former football player Bernie Joseph Kosar, Jr., born Boardman, OH/
    1964---Top Hits
Baby Love - The Supremes
Come a Little Bit Closer - Jay & The Americans
Ringo - Lorne Greene
I Don’t Care (Just as Long as You Love Me) - Buck Owens
    1965-Birthday of football player Cris Carter, Troy, OH.
    1967--"Incense and Peppermints" by The Strawberry Alarm Clock hits the top of the Billboard Pop chart. The recording was initially intended as a 'b-side' and the lead vocal is actually that of a friend of the band, 16 year old Greg Munford, who was just hanging around during the session. Munford was not even a regular band member, but ended up singing a tune that would become a Rock and Roll standard and sell over a million copies. Despite this success, Munford never actually joined the group and drummer Randy Seol sang the song in concert.
    1972---Top Hits
I Can See Clearly Now - Johnny Nash
I’d Love You to Want Me - Lobo
Summer Breeze - Seals & Crofts
She’s Too Good to Be True - Charley Pride
    1973-Presendital order requiring a cutback from the 70 mile-per-house speed limit. the 55 mile-per hour National Maximum Speed Limit (NMSL) was established by Congress in January, 1974 (PL-93-643). The National Highway Traffic Administration reported that “analysis of available date shows that the 55pmh NMSL forestalled 48,310 fatalities through 1980. There were also reductions in crash-related injuries and property damage. Motor fuel savings were estimated at 2.4 billion gallons per year.
Notwithstanding, in 1987, Congress permitted states to increase speed limits on rural interstate highways to 65 miles per hour. There are several states, Northwest, where the posted speed is higher.    1980---Top Hits
Woman in Love - Barbra Streisand
The Wanderer - Donna Summer
Another One Bites the Dust - Queen
Lady - Kenny Rogers
   1980-Roberto Duran quit fighting with 16 seconds left in the eighth round, saying, “No mas, no mas ( No more, no more),’ allowing “Sugar” Ray Leonard to regain the WEBC welterweight title.
    1983 - The "Great Thanksgiving Weekend Blizzard" hit Denver, CO. The storm produced 21.5 inches of snow in 37 hours, closing Stapleton Airport for 24 hours. The snow and wind closed interstate highways around Denver. Visibility at Limon CO was down to zero for 24 hours.
    1984 - The ‘Golden Bear’, Jack Nicklaus, sunk an 8-foot birdie putt on the last hole to win the second Skins Game -- for $240,000. He beat Tom Watson, Arnold Palmer and Gary Player (the 1983 winner).
    1986 - Don Shula of the Miami Dolphins ended speculation about his possible move to another NFL franchise by signing with the Dolphins again.
    1986-For the first time in Billboard chart history, the top three spots are occupied by female artists. #1 is Cyndi Lauper's "True Colors", #2 is Tina Turner with "Typical Male" and #3 is Janet Jackson's "When I Think Of You".
    1986-Jose Canseco wins the American League's Rookie of the Year Award. The Cuban-American is the first A's player to win the honor since Harry Byrd accomplishes the feat for Kansas City in 1952.     1988---Top Hits
Bad Medicine - Bon Jovi
Desire - U2
Baby, I Love Your Way/Freebird Medley (Free Baby) - Will To Power
I’ll Leave This World Loving You - Ricky Van Shelton
    1989-Songwriter Diane Warren was the author of the number 1 and number 2 songs in the US. "When I See You Smile" was a hit for Bad English, and "Blame It on the Rain", was credited to Milli Vanilli. Warren would go on to write "I Don't Want to Miss a Thing" for Aerosmith and the Armageddon soundtrack in 1998.
    1990-- NFL's NY Giants & San Francisco 49ers after winning their 1st 10 games both lose, Phil Eagles beat Giants 31-13 & L.A. Rams beat 49ers 28-17
     1995- Whitney Houston's song "Exhale" debuts at the top of the charts. This was the third Houston single to top the charts on the day of its release.
     1996- America Online announced it would sell its WebCrawler search engine to Excite. In return, AOL received some $20 million worth of Excite's stock, increasing its ownership stake in the online directory to twenty percent. The newly formed Excite directory was created in a garage by six Stanford University graduates who borrowed $15,000 from their parents. By 1999, the site was receiving some seventeen million hits per month, and that year, At Home Corp., a cable modem company, purchased Excite for $6.7 billion. @Home went filed bankruptcy in 2002.
    1999 - Five-year-old Elian Gonzalez was found clinging to an inner tube off the coast near Fort Lauderdale, Florida. The boy, his mother, stepfather, and eleven other Cubans had boarded a small boat in Cuba and attempted to cross the ocean to the U.S. Elian was one of three to survive (his mother and stepfather both drowned). He lived with relatives in Miami until he was seized by the INS in an early morning raid on April 22, 2000. Jokes on the internet were plentiful with a rifle held at his head. He returned to Cuba with his father on June 28.
http://www.pbs.org/newshour/images/law/elian/elian_a.jpg http://recollectionbooks.com/bleed/images/humor/elian.jpg

(Dedicated to the Philadelphia Eagles)

Time keeps on slippin'
Into the future...

Sayin'
Time keeps on slippin', slippin', slippin'
Into the future.........oohhh

Said I wanna fly like an eagle... to the sea
Fly like an eagle let my spirit carry me, I wanna...
fly.............
Fly right into the future....
I wanna feed the babies... said, who can't get enough to eat
Wanna shoe the children... no shoes on their feet
I wanna house the people... livin' in the street
Oh yeah there's a solution
...gimme the reasons baby

Let me fly like and eagle... to the sea
Fly like an eagle let that spirit carry me, I wanna
fly....... ... oh yeah
Fly right into the future

Time keeps on slippin', slippin', slippin'
Into the future...
Time flies don't it baby?
... oohh
Time keeps on slippin', slippin', slippin'
... doo...doo...du-doooo
Into the future... ...Ohhh.
... doo...doo...du-doooo
Time flies don't it baby?

---Fly Like An Eagle
(Steve Miller)

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