Bulletin Board Complaint
Truck Lenders Group/TruckLendersUSA

Actually “Vehicle Lenders Group, LLC,” consists of “TruckLendersUSA” and “MobilityLenders USA,” Oyster Bay, New York, formed by the late Curt Webster.

The complaint comes from Brian Griffin at Signature Capital, LLC, Austin, Texas:

“In late August, One World Lease Coop, which I am a member of, sent Truck Lenders, USA/Jason Spates a transaction for credit review/approval, Alliance Heavy Haul Group (John Dillingham) located in Kilgore, TX. Jason eventually approved the transaction; a copy of that approval to One World is attached from 9/4/12. There were many items Jason needed to clear up in order to give this approval which meant a lot of back and forth between Jason, One World, and myself. At some point I got permission from One World to go direct with Jason so I could save time. Jason made sure to point out that the FET was not going to be included in the cap cost and the customer would have to pay that directly to the dealer. As you will see on the 2nd attachment, which is my approval email to the customer, I clearly stated and underlined that FET needed to be paid directly to the dealer.

“On 9/14/12, John signed the documents I emailed him from Truck Lenders and overnighted them directly to Truck Lenders, faxing me a copy. On 9/20/12, Truck Lenders wired money of 1 of the trailer dealers. The customer was informed he could come by and pick up the trailer as long as he paid the FET. The customer called me complaining this was the first he had ever heard of paying the FET himself. I sent him a copy of my approval email again and also said we had spoken on at least 1 other occasion how he would pay the dealer the FET directly. He stated to me he did not have any more money to pay the FET and would cancel the lease.

“I called Jason Spates at TL and asked if there was any way to include the FET in the lease. Jason stated this was not possible. I told the customer and he said to cancel the lease. In the 3rd attachment, you'll see at the bottom of the email, Jason says we need to walk away from this client. On 8/21/12, Jason proceeds to call the customer directly, and tell him that Signature Capital is collecting a $12k fee on this. Jason states he is willing to give the customer the $12k towards his FET is he pays the remaining FET. The customer agrees, TL sends the FET to the dealers after receiving the balance from the customer after my fee is applied.

“The found out about this because on the 4th attachment, the dealer tells me TL calls her directly and accepted the terms and to send the MSO to TL. I call the customer to verify and he says yes, Jason called him directly, said I was collecting a big fee and instead of paying me, he would apply that to his FET if he would pay the rest.

“I called Jason and he gives me a story about how another broker sent the deal in, and their policy is whoever is able to close the deal gets it. I told him I spoke to the customer and he said you called him directly; he denied it and said it was a broker.

“Jason's arguments are this:

· “He said I went around One World by contacting him directly. One World was fully aware I contacted him, and Lou Manitzas from One World will confirm this. So him trying to paint me the same as him does not hold true.

· “Jason states he never counter signed the broker agreement with either One World or myself. One World confirmed this and said he does not have one counter signed, an oversight on his part. I think that may be Jason's plan is to try and not counter sign broker agreements if the broker doesn't push it, then he can get away with doing just what he did here. It also ensures this turns into a he said/he said scenario.

“I obviously would like some, or all of the fee I was expecting on this deal.“

The above was sent to Vehicle Lenders Groups, to both parties the complaint concerned:

Dawn Leo, GM, Vehicle Lenders Group, TrucklendersUSA responded: “As a matter of corporate dictates, we do not discuss these matters openly in a public forum. We take these inferred statements and turn them over to our internal departments that handle these matters. Answering accusations without intense documentation is not in anyone’s interest. Beyond that we can’t answer any question as posed by you regarding a matter put to rest already.”

Jason Spates, Director of Finance, responded: "As a matter of corporate dictates, we do not discuss these matters openly in a public forum. We take these inferred statements and turn them over to our internal departments that handle these matters. Answering accusations without intense documentation is not in anyone’s interest. Beyond that we can’t answer any question as posed by you regarding a matter put to rest already."

Brian Griffin was asked for a comment: "Had Jason given me the opportunity to reduce my commission and at least get something out of the deal for so much time and work put in I would have easily agreed."

 

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Classified Ads---Sales

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

California Aggressive, competitive self-starter with vendor/direct equipment  leasing and asset-based lending experience. Success in business banking sales and financial planning.  Email: dsp559@hotmail.com | Resume

Garfield, NJ 15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker. Tony Lio tonylio@optonline.net

Montgomery, AL Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama. Work with leasing company or broker. 334-590-5133 E-mail: billmcneal2003@yahoo.com

Orange County, CA  20+ yrs. leasing sales/sales mgmt Established remote office w/Lessee/Vendor following Request Salary + commission or partnership w/direct funding source. shermbp@gmail.com

San Francisco Bay Area: 15 year Vendor Program Agreement HUNTER. Currently employed at major IT manufacturer captive supporting direct and channel sales. Must have base, commission and benefit package. E-mail: VdrPgmBizDev@aol.com

Texas/Oklahoma  15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested. E-mail: bankingdallas@yahoo.com

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

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

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Four Software Solutions re: Digital device/Laptop Lost or Stolen!

http://preyproject.com/

For Android smartphones and tablets, Mac and Windows PCs.

The software is free, but you have to upgrade if you want to track more than one device and unlock other features with prices for 500, 100, 30, 10, 3 devices. http://preyproject.com/plans

Once your laptop goes missing, mark it as “missing” on the site and you can monitor where it is with Wi-Fi. It’ll also takes a screenshot, in case it was stolen, so you can possibly catch a glimpse of the thief’s activity.

If you lost your phone, use the SMS service to send a message to your phone with your email address so the phone can be returned if it’s found.

Android and PCs
https://www.lockittight.com/

This software for Android and PCs will grab a screen shot of the thief’s activity. The basic service, which includes geo-tracking, is free, but if you want to use other features, you can upgrade to one of the three versions ranging from $1.99, $2.99, $4.99 per month.

Macs and PCs
www.absolute.com/lojackforlaptops/home

Service starts at $39.99 one year/$89.99 three year and premium editions $59.99 one year/$109.99 three year.

Reportedly you can’t delete the software, so it has a great advantage if your laptop is stolen. It also sends forensic information to the police and the company’s theft department to help you to locate your laptop should it be stolen. And, if your computer is stolen and wiped clean, they report you can still get all your data from it.

Androids, iPhone and Blackberries
http://www.stealthgenie.com/

The most expensive: starts with three levels, starting at $8.33 a month with a $13 a month and $16 a month plan. They also have three month, six month and one year plans. Android plan is http://www.stealthgenie.com/packages-android.aspx

It is “on line” ---meaning it records calls, does tracking, and has other features. It collects data about calls, texts and other activities, and sends that information to a secure web account. It also has real time geo-tracking and location history. You can also use it for parental monitoring.

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Bruce Zwillinger Retires--Last Day was Friday

Bruce and his wife Heidi

BSB Leasing held a late afternoon party at their offices in Englewood, Colorado to salute Bruce Zwillinger 18 years with the company.

Bruce told Leasing News: "I would just like to say Thank You to all of the wonderful people I have met and worked with over my 35 year career. The best part of my job has been not only to work with some of the finest folks in the finance industry but over the years to make some truly wonderful friends. My Dad used to tell me to find a job you love and you will never work a day in your life. I can truly say I never worked a day in my life. Don Myerson will say this is both literal and factual!

“Thanks again for letting me thank all of the great folks I worked with over my 18 years at BSB Leasing. The folks there are the hardest working, most knowledgeable people I have worked with over my career and I know they will continue to do a fantastic job for the brokers going forward.

“I will continue to get Leasing News so I can keep an eye on our industry. Thanks for what you do and thanks again for letting my say Thanks to everyone I came in contact with over the years. Best of luck to all."

Don Myerson, President, BSB Leasing reminisced:

"Eighteen years ago Bruce Zwillinger started at BSB Leasing. His first day on the job we set him up to work on a card table that was set up in my office right next to my desk. After sharing my office that first day I went home thinking no way this was going to work out.

“Well here we are 18 years later and now I am having a difficult time imagining BSB Leasing without Bruce. We’ve gone through some great times and we’ve gone through some not so great times together. The one constant has been our friendship and the fun we’ve had working together all these years.

“It’s been a long journey but a very enjoyable ride! I am going to miss him. That is until the first time I get a phone call from him telling me how wrong I am – again. And believe me. That will happen.”

 

 

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

CLP Foundation Announces New CLP -- Brian Link

The Board of Directors of the Certified Lease Professional (CLP) Foundation is proud to announce that Brian Link has passed the CLP Exam and earned the coveted CLP designation.

Mr. Link is the President and Founder of
InSource Capital Services, Inc. located in Sherman Oaks, California.

The CLP designation identifies you as a knowledgeable professional to employers, clients, customer, and peers in the leasing industry.

There are currently 170 Certified Lease Professionals throughout the world.

For more information, call Reid Raykovich, CLP, at (206) 535-6281 or visit www.clpfoundation.org

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

 

 

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Equipment Lessor Prevails in Buyer in an Ordinary
Course of Business Case in Inventory Dispute

By Tom McCurnin
Barton, Klugman & Oetting

Ohio Court Correctly Rules That Certificate of Title Statutes
Prevail Over Uniform Commercial Code

La Gar Marketing, Inc. v. W. Finance & Lease, Inc., 012 WL 4898785 (Ohio Ct. App. 2012)

Today’s case demonstrates the battle between an equipment lessor who financed a truck to a flakey car dealer, and a buyer which bought the same truck from the same flakey car dealer. The buyer made all the payments to the flakey dealer, but the dealer failed to remit its payments to the equipment lessor. The lessor declared a default and repossessed. The buyer claimed it was a “Buyer in the Ordinary Course of Business.”

If the reader is familiar with the Uniform Commercial Code’s treatment of innocent buyers, it would seem that since the truck was inventory, and the buyer bought the truck from a dealer, the buyer then should prevail in this dispute. But here, since inventory was covered by a certificate of title, the Court of Appeals ruled that the Uniform Commercial Code, and its concept of “Buyer in the Ordinary Course of Business,” simply did not apply. The buyer lost. But the lessor was forced to fully litigate this matter, including one trip to the Court of Appeals. The facts follow:

Western Finance & Lease entered into an Equipment Finance Agreement with a truck dealer, Mark's Akron and Medina Truck Sales, and the Equipment Finance Agreement called for Mark to make payments of $2,117 per month. Western’s lien was noted on the certificate of title. Three weeks later, Mark sold the truck to La Gar Marketing for $7,000 down and $970 per month. La Gar made all its payments to Mark, but Mark defaulted on its obligation to Western Finance & Lease.

Western sought to repossess the vehicle, and La Gar claimed that it bought the truck from a dealer, and was therefore a “Buyer in the Ordinary Course of Business.” La Gar sued, it went to trial and ultimately up the Court of Appeals.

Ohio, like many States, has law on the books that equipment subject to certificate of title laws is simply not subject to the Uniform Commercial Code. Ohio’s statute states, in pertinent part, the Court may not “recognize the right, title, claim, or interest of any person in or to any motor vehicle sold or disposed of, or mortgaged or encumbered,” unless evidenced by a certificate of title.” Since La Gar didn’t have a certificate of title showing its ownership interest, the Court of Appeals summarily disposed of its claims and defenses. There was, however, a spirited dissent by one Justice.

This is a pretty simple case and the lessons for equipment lessors are probably already well known, but for the sake of review:

First, if the lessor is financing equipment subject to a certificate of title (boat, motor vehicle, snow mobile, jet ski), then make sure that its lien interest is evidenced in the title. We use title services to accomplish this, rather than deal with the Department of Motor Vehicles. Here, Western Finance & Lease did the right thing.

Second, if the lessor is financing inventory for a dealer, like Mark, the lessor should be aware that its lien may be voided by a Buyer in the Ordinary Course of Business. Here, since the UCC was ruled not to apply, the lessor dodged a bullet.

Third, if the lessor is financing inventory, the lessor should treat the transaction like a flooring loan, and perform periodic inspections and audits of the borrower. Here the record is unclear whether this was a one-off financing transaction or the parties had a past history of deals. However, monthly audits and inspections by Western Finance & Lease of Mark would have reflected that the vehicle was missing and that Mark had sold the lessor’s collateral.

Ultimately, financing inventory for resale is a risky proposition, and I’m not sure the lessor knew that it was in fact financing inventory. I’m quite confident that no matter how Western Finance & Lease priced this deal, it wasn’t worth the trial and trip to the Court of Appeals. Maybe next time they’ll pass on financing inventory.

Finally, if the reader is buyer or borrower, the borrower should expect to receive a certificate of title. Here La Gar forked over $7,000 but didn’t get a certificate of title, nor even asked to see the title? Really?

The bottom line to this case is that the lessor here did everything right, except it might have been better prepared for this long expensive legal fight, had it known that it was financing inventory for resale. That can spell trouble, more expense, more time wasted, just by not being prepared for this occurrence.

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

Court Case:
http://www.leasingnews.org/PDF/LaGarCase.pdf

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

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Leasing 102
by Mr. Terry Winders, CLP

Stipulated Loss Value (SLV)

A commercial lease usually contains a non-cancelable clause which means the lessee is bound to make all the payments and has no right to terminate the lease early unless….. The equipment is destroyed or rendered inoperable-- it is a default. Because of the non-cancelable clause it must be stipulated in the lease that a lessee must meet certain requirements (Stipulated Loss Value) to satisfy and reimburse the lessor for the destroyed equipment. The lease should state that the lessee owes the greater of the stipulated loss value or the current value of the equipment.

Of course the lessor has the right to wave this provision and/or place a prepayment fee on top of the payoff instead of requiring the balance of the payments. This is easy with an Article 9 disguised sale agreement. However, a true lease requires a lot more figuring.

In a true lease the lessor receives the right to assume the capital recovery benefits (depreciation) and because the government realizes that the value of the equipment depreciates more rapidly in the beginning, depreciation has been accelerated and called the Modified Accelerated Cost Recovered System (MACRS). The dilemma is that when lease terminates early for any reason the un-depreciated balance for taxes is lower that the book balance and the difference between the two balances creates a recovery tax.

In the early months a Stipulated Loss Value may be more than the equipment’s original cost. In the later months the tax affect is a lot less as the book amortization gets nearer to un-depreciated tax value so the Stipulated Loss Value may be less than the current value of the equipment.

The real difference develops because of the term of the lease as it compares to the term of depreciation that is required by the MACRS depreciation tables. If the term of the lease is longer than the MACRS the Stipulated Loss Value will be much higher. If the term of the lease is shorter than the MACRS, like it is in data processing equipment, then the Stipulated Loss Value will be significant.

However many data processing equipment managers prefer to lease the equipment because the lease payments are a better expense than interest and depreciation. They know the actual payments will be higher than a loan because the depreciation causes a negative return for the lessor that can only be made up by higher payments.

The tax burden creates its own problem because to add the tax burden on to the book payoff increases the payoff and therefore increases the tax and this back and forth problem creates a large payoff. Generally to get an accurate payoff on a true lease it requires the use of a computer pricing program.

Always remember to check the tax effect on all early terminations prior to closing a lease. Too many lessors have only charged the book balance like a loan balance and did not receive the bad news until income tax time. Sometimes in a large financial institution it gets lost in the shuffle and they never realize what they have lost.

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

He invites your questions and queries.

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

 

Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale. Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame. 502.649.0488/Leaseconsulting@msn.com

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

 

Bank Beat by Christopher “Kit” Menkin
Missouri, Two Banks Florida Closed---Why?

The third bank to fail in Missouri this year was Excel Bank, Sedalia, today a population of 21, 387, located 30 miles south of the Missouri River, known perhaps best for the destination of the cattle drives in the TV series "Rawhide" and as a rough and tumble wide open town in the West, which it had quite a reputation for drinking, gambling, and houses of ill repute.
http://en.wikipedia.org/wiki/Sedalia,_Missouri

The four branches of Excel Bank were closed with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits.

Founded July 30, 1964, the bank had 46 full time employees at its offices in Green Ridge, Kirkwood, Lees Summit, and Sedalia.

Shaun Hayes, once president of Sun Security Bank, Ellington, Missouri, closed October 7, 2011, also had been a shareholder, Excel Bank in Sedalia, Mo., and ones of those suing Hayes for real estate fraud.

Real estate loans, first and second mortgages, construction loans brought non-current loans up as charge off brought Sun Security’s 27 branches down as well as the four at Excel:

(in millions, unless otherwise)

Non-Current Loans

2006   $414,000
2007   $1.7
2008   $1.7
2009   $5.2
2010  $12.1
2011  $31.9
6/30   $31.5

Charge Offs
2006 -$4,000 ($17,000 commercial, $3,000 individual, -$19,000 1-4 family,
-$3,000 nonfarm/nonres.)
2007 $577,000 ($438,000 construction/land, $122,000 commercial, $13,000 indiv. $3,000 1-4 family)
2008 $292,000 ($144,000 construction/land, $100,000 multifamily, $32,000 1-4 family, $8,000 commercial)
2009 $165,000 ($86,000 construction/land, $85,000 1-4 family, $85,000 commercial,-$100,000 multifamily)
2010 $10.1 ($4.8 1-4 family, $3.1 commercial/industrial, $794,000 multifamily, $47,000 individuals
9/30 $5.6 ($1.8 commercial/industrial, $1.5 nonfarm/nonres. $938,000 multifamily, $768,000 1-4 family, $430,000 construction/land development).

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

As the real estate loans were affecting other banks in Missouri, particularly those overextended, the ban hit the wall in 2010 and was under close scrutiny by the regulators:

Profit

2006 $1.4
2007 $682,000
2008 $1.2
2009 $1.1
2010 -$833,000
2011 -$8.2
9/30 -$6.4

Net Equity

2006 $11.7
2007 $12.3
2008 $13.2
2009 $18.4
2010 $18.0
2011 $9.8
9/30 $3.3

Tier 1 risk based capital ratio 2.36%

As of June 30, 2012, Excel Bank had approximately $200.6 million in total assets and $187.4 million in total deposits. In addition to assuming all of the deposits of the failed bank, Simmons First National Bank agreed to purchase essentially all of the assets.

The FDIC and Simmons First National Bank entered into a loss-share transaction on $126.6 million of Excel Bank's assets. Simmons First National Bank will share in the losses on the asset pools covered under the loss-share agreement

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $40.9 million

http://www.fdic.gov/news/news/press/2012/pr12120.html

 

The four branches of GulfSouth Private Bank, Destin, Florida closed with SmartBank, Pigeon Forge, Tennessee, to assume all of the deposits.

Founded November 21, 2005, there were 27 full time employees at their offices in Destin, Fort Walton Beach, Pensacola, and Santa Rosa Beach.

Tony Atkins, founding president and CEO, had big dreams opening of the bank at the building the bank owned at 305 Main Street. On what is known as the Emerald Coast, on the Gulf Coast, originally an island but became a peninsula due to the many hurricanes. It became a popular vacation sport with reportedly the largest fishing vessel fleet in the state of Florida. It was going to be a boom town for tourists.
http://en.wikipedia.org/wiki/Destin,_Florida

The 2010 BP oil spill affected tourism, but that was just the final straw to an area overbuilt as real estate loans were the demise of the bank, as seen in the drop in profits and charge offs.

(in millions, unless otherwise)

Profit

2006   $1.4
2007   $1.4
2008   $628,000
2009 -$4.9
2010 -$4.1
2011 -$8.7
6/30 -$5.0

Charge Offs
2006 0
2007 0
2008 $344,000 ($255,000 construction/land development, $89,000 loans to individuals)
2009 $3.1 ($1.4 construction/land, $1.0 nonfarm nonres., $500,000 1-4 family, $208,000 individuals)
2010 $4.8 ($1.7 1-4 family, $1.0 individuals, $626,000 industrial, $605,000 nonfarm/nonres,
2011 $3.0 ($877,000 nonfarm/nonres., $610,000 1-4 family, $614,000 individual, $520,000 commercial)
6/30 $2.3 ($1.2 1-4 family, $803,000 nonfarm/nonres., $252,000 construction, $90,000 commercial, $21,000 individuals).

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

GulfSouth Private Bank President Tony Atkins was formally the President/Senior Lender of Corporate Banking for Colonial Bank’s South Central Region. In this capacity Mr. Atkins managed over 1.5 Billion in loans and over 125 lenders in fifty plus branches. The region produced in excess of $600 million in loans annually. His responsibilities consisted of credit quality, loan production, profitability and the mortgage banking area.
http://www.gulfsouthprivatebank.com/atkins.html

Instead of growth, he saw the bank equity start to drop in 2009:

(in millions)

Net Equity

2006   $17.9
2007   $19.0
2008   $19.2
2009   $13.8
2010   $16.5
2011     $7.9
6/30     $2.6

Note Non-Current Loans large jump in 2009:

(in millions)

Non-Current Loans

2006         0
2007         0
2008   $728,000
2009   $13.8
2010   $21.4
2011   $22.9
6/30    $27.9

GulfSouth owed the U.S. Treasury $7.5 million under the TARP program. Under the terms of the Capital Purchase Program, the Bank made four payments to the U.S. Treasury totaling $681,300 and then defaulted on its payment obligations. The last payment made to the U.S. Treasury for the TARP funds was made during June 2010.

As of September 30, 2012, the Tier 1 risk-based capital ratio was 2.59%.

As of June 30, 2012, GulfSouth Private Bank had approximately $159.1 million in total assets and $151.1 million in total deposits. In addition to assuming all of the deposits of the failed bank, SmartBank agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.1 million.

http://www.fdic.gov/news/news/press/2012/pr12118.html

 

First East Side Savings Bank, Tamarac, Florida, was closed with Stearns Bank National Association, St. Cloud, Minnesota, to assume all of the deposits. Founded January 1, 1920, the bank had 12 full time employees as of June 30, 2012. End of year December 31, 2006 they had 29 full time employees at two offices located in Chicago area (Joliet, Naperville), relocating to Florida in 2007 after selling off its Chicago operations and concentrating on Florida. Tamarac is about 13 miles northwest of Fort Lauderdale and 40 miles north of Miami. It has a high population of senior citizens as well as female share of the population.
http://www.citytowninfo.com/places/florida/tamarac

Bank Headquarters
(Building of the bank Hq.)
http://www.hezner.biz/projects/tamarac/tamarac.pdf

According to the ABA Banking Journal, "Its (chairman), president and CEO is Diane Raddatz, age 70, whose father, William Raddatz, Jr., was CEO before her, and whose grandfather, William Raddatz, Sr., was a founder, and the first CEO, of the savings bank.” (The building above shows the ego involved. CM). During this period, the ABA Banking Journal noted “ ...Currently about 60% of First East Side’s loan portfolio consists of single-family construction loans. (It does not make condo or pure commercial loans.)”
http://www.ababj.com/top-performer-profiles/first-east-side-savings-bank-no-regrets-about-moving-to-florida.html

Mortgage payments and new construction defaults overcame the bank as it fell quickly after its move from Chicago to what it thought would be warmer and more profitable climate as real estate in Florida was "hot" in 2007

(in millions, unless otherwise)

Net Equity

2006 $12.1
2007 $18.1
2008 $15.5
2009 $11.1
2010   $6.0
2011   $3.2
6/30   $870,000

Profit

2006   $379,000
2007   $6.1
2008  -$2.0
2009  -$5.0
2010  -$5.4
2011  -$3.0
6-30   -$2.3

Non-Current Loans

2006     $1.7
2007   $846,000
2008     $5.7
2009   $10.2
2010   $13.4
2011     $3.9
6-30     $2.3

Charge Offs
2006 $48,000 ($48,000 commercial/industrial loans)
2007 $163,000 ($144,000 construction/land, $19,000 commercial/industrial loans)
2008 $1.1 ($1.1 construction/land, $56,000 1-4 family, -$29,000 commercial/industrial)
2009 $3.8 ($2.8 construction/land, $683,000 1-4 family, $250,000 individuals, $56 commercial/Ind.)
2010 $1.4 ($932,000 construction/land/$495,000 1-4 family, -$204,000 individual)
2011 $1.0 ($786,000 1-4 family, $179,000 multifamily, $47,000 construction, -$7,000 individuals)
6/30 $1.4 ($1.2 1-4 family, $154,000 commercial/industrial, $36,000 individuals)

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

Tier 1 risk-based capital ratio 2.10%

As of June 30, 2012, First East Side Savings Bank had approximately $67.2 million in total assets and $65.9 million in total deposits. In addition to assuming all of the deposits of the failed bank, Stearns Bank agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.1 million.

Florida has now had a total of seven banking failures this year, representing 16% of total U.S. bank failures during 2012.

http://www.fdic.gov/news/news/press/2012/pr12119.html

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

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

Comprehensive personal property tax outsourcing services We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do.  Click here to learn what our clients say about our service Gary DiLillo, President 440.871.0555 or gary@avptc.com

 

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Leasing Industry Help Wanted

 

Experienced only, Sales Reps 1 Southeast, 1 West Coast Looking to Expand Your Career Base Salary & Commission Send resumes to dmitchem@ifsc.com www.ifsc.com Stable, profitable independent lessor, 30 years in business Libertyville, IL

 

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

Please see our Job Wanted section for possible new employees.

 

Career Crossroad---By Emily Fitzpatrick/RII
“HELP – I Think I Made The Wrong Career Move!”

Question: “HELP – I Think I Made The Wrong Career Move!”

Answer: First, let me say, Good for you for Embracing Change! There are those opposed to change because it entails risk – the risk of making the wrong decision.

IN the long run, employers will view a Candidate who makes career changes as a take-charge person and one who welcome challenges.

In addressing your situation: make sure you have given your new employer an adequate amount of time and THEN determine if you have made a mistake. ASSUMING you chose an ethical company with a good reputation, it typically takes 6 - 8 months for a Candidate to determine if they have made the right move. It takes time to adjust to your new role.

Have you discussed your dissatisfaction with your hiring manager and her/ is superior (s)?

If not, give it some time … End-of-year / 4th Q can be very daunting to some decision makers as they are dealing with budgets, year-end financials, 2013 business & staffing plans, etc.… I would suggest having this conversation with your manager (s) mid-January after the dust has settled from the holidays. I am sure if you have added value, they will honor their commitments.

A NOTE: Be WARY of “promises” from your hiring manager – truly, they can only be fulfilled by Decision Makers of the organization - those who have the authority to make P&L and strategy decisions (e.g. C-Level Executives).

Make sure those “promises” are agreed upon by all parties (in writing) before accepting an offer.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

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

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Top Stories October 15--October 19

Here are the top ten stories opened by readers:

(1) Archive-- October 17, 2002
NorVergence—Robert J. Fine Fires Back
http://leasingnews.org/archives/Oct2012/10_17.htm#archives

(2) Archives---October 19, 2000
51 Leasing Companies Major Change
http://leasingnews.org/archives/Oct2012/10_19.htm#archvies

(3) Section 179—If Delivered this year, Not too late
http://leasingnews.org/archives/Oct2012/10_15.htm#section

(Tie) (4) Is Leasing Securitization Dead or Alive?
http://leasingnews.org/archives/Oct2012/10_15.htm#leasing

(Tie) (4) Three Year Audit---and yes, Leasing is Regulated!
http://leasingnews.org/archives/Oct2012/10_17.htm#audit

(5) Funding Source Gets Burned by Inadequate Collateral
Description in One Case/But Survives Attack in Another
By Tom McCurnin and Frank Peretore
http://leasingnews.org/archives/Oct2012/10_19.htm#funding

(6) Welcome New Readers
http://leasingnews.org/archives/Oct2012/10_15.htm#welcome

(7) GE's Finance Unit:
Maybe Jettisoning It Is a Bad Idea, After All
http://www.forbes.com/sites/ycharts/2012/10/12/ges-finance-unit-maybe-jettisoning-it-is-a-bad-idea-after-all/

(8) Fraudulent Wire Transfer Schemes
Continue to Plague Business and Financial Institutions
By Tom McCurnin
http://leasingnews.org/archives/Oct2012/10_17.htm#wire

(Tie) (9) Citigroup CEO Vikram Pandit resigned after boardroom clash
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/
9613100/Vikram-Pandit-resigned-after-boardroom-clash.html

(Tie) (9) Leasing 102 by Mr. Terry Winders, CLP
Lessor Accounting Income
http://leasingnews.org/archives/Oct2012/10_15.htm#lessor

(10) Take Your Banker to Lunch
http://leasingnews.org/archives/Oct2012/10_15.htm#lunch

Labrador Retriever Mix
Englewood, Colorado Adopt-a-Dog

 

Carly
ID#: CCR223
Female
Size: Med. 26-60 lbs (12-27 kg)
Color: White - With Red, Golden, Orange Or Chestnut

"I am already spayed, housetrained, up to date with shots, good with dogs, and good with cats.”

Carly's Story...

"Carley came to our group from an overcrowded NM animal shelter. We have no past history on her and are guessing her breeds and age.

“Carly is a medium size mellow lab mix with a medium energy level and a gentle personality! She is housebroken (with or without a doggie door), sleeps all night on a doggie bed. Carly is not a barker, digger or a chewer, and does great on walks! Her only bad habit is counter surfing when there is food left within her reach. She does well in a crate, but can be trusted to have free roam in the house while you’re gone. Carly is content hanging out in the yard lying in the grass, or inside just chillin’ with her humans and dog friends. She pretty much ignores cats.

“Carly especially loves females, and is a little timid toward grown men but warms up quickly with patience and praise. She will do best in a home with a consistent household routine and someone who is willing to continue to build her confidence. She’ll do fine with or without other animals in the home, and will probably do great with children of all ages since she is not hyper at all. Carly wants nothing more than to find her forever home. Could it be you?

“If you are interested in adopting Carly, please submit an adoption application located on our website, www,coloradocaninerescue.org, and we will contact you as soon as we receive it. We are asking for a $100 adoption donation for Carly. She will be spayed, up to date on shots, and microchipped before adoption.”

Contact This Rescue Group...
Rescue Group: Colorado Canine Rescue
Pet ID #: CCR223
Phone: (888) 896-7251
Let 'em know you saw "Carly" on Adopt-a-Pet.com!
E-mail: rescue@coloradocaninerescue.org
Let 'em know you saw "Carly" on Adopt-a-Pet.com!
Website: http://www.coloradocaninerescue.org
Address: PO Box 783
Englewood, CO 80113

 

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

Adopt a Pet
http://www.adoptapet.

 

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Classified ads—Asset Management

Leasing Industry Outsourcing
(Providing Services and Products)

 

Asset Management: Atlanta, GA premier provide accounts receivable management functions from 3rd Party contingency collections to Portfolio Purchasing. Contact George Elliott, National Account Manager. 678-694-9063, www.westassetmanagement.com	Asset Management: Boston, MA Nationwide appraisals, remarketing, audits, inspections and more! Over 15-years industry experience and dedicated to deliver personal, prompt, professional services.  Call Chris @ 508-785-1277. Email: chris@dovermanagementgroup.com
Asset Management: Minneapolis, MN NetSentric provides services to leasing companies: Inspection, Appraisals, Auditing, Warehousing, Repossession, Asset Management, Repairs, Remarketing and Field Service for Electronics and Computing Technology. Email: jcahill@netsentricinc.com	Asset Management: Monroe, NC Recover a greater return on your investment.  We specialize in the woodworking, pallet, sawmill and forestry industries.   Carolinamachinerysales.com/ Melinda Meier (704)288-1904 x103
Asset Management: Nationwide  BUYER/LENDER BEWARE. Don't sign anything until Collateral Verifications Inc. goes onsite, knocks on the door and gets the facts. http://www.i-collateral.com Email: mark@i-collateral.com	Nationwide  Seasoned and fair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals.  Call Nassau Asset Management 800-462-7728  dcastagna@nasset.com
Asset Management: NorthWest Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contact rossr@sequentam.com	Asset Management: Orange City, FL We help Lessors Liquidate un-wanted Assets valued at $750,000+. It's an effective method of Liquidating Assets such as Jets, Planes, Helicopters, Freighters, etc.  Eric R. Sanders  Tel  386-789-9441  www.ValuedAssetSales.com  www.The-RandolphCapital.com  EQPMNTLEASING@aol.com
Asset Storage/Re-Marketing: Ohio & surrounding states. Providing no cost warehousing, condition reports, digital photos and remarketing of off-lease forklifts & industrial equipment. NAFTA wide dealer network. Email to GCochran@OhioLift.com	Asset Management Melville, New York Auctions, Appraisals, National Repossessions.  ALL asset classes. 20+ year team works for you. Spend less, Net More… Fast! Ed Castagna 516-229-1968 ecastagna@inplaceauction.com
Asset Management: South East US- AllState Asset Management  Recovery, remarketing, inspections. 25 years experience, dedicated to deliver, prompt, professional services.  Call Brian @ 704-671-2376. brian.buchanan @allstateassetmgmt.com	Asset Management: Global Specializing in Semiconductor and Electronic Test Equipment collateral. Lender services include Consignment Sales, Remarketing, Portfolio Purchases, Inspections, De-installation, Repairs and Warehousing.  www.testequipmentconnection.com mnovello@ testequipmentconnection.com
Bulldog Asset Management provides recovery and remarketing services with a difference. Contingent repos, free storage and industry experts to remarket. Email:Jamie@bulldogasset.com  www.bulldogasset.com	Asset Management: Portsmouth, NH Unique approach improves results, keeps costs down. Repossession, Storage, Inspection, Legal, Appraisal, Transport, Remarketing. Free advice and resources.Call 855.EENGINE http://lendersolutions. equipmentengine.com

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

 

News Briefs----

 

GE Falls as Sales Forecast Cut on Shrinking Finance Unit
http://www.businessweek.com/news/2012-10-19/ge-revenue-trails-estimates-as-health-unit-sales-weaken

U.S. Bancorp Churns Out Record Results As Mortgage Revenue Soars
http://seekingalpha.com/article/935081-u-s-bancorp-churns-out-record-results-as-mortgage-revenue-soars?source=email_rt_article_readmore&ifp=0

U.S. Bancorp Lease Financing Receivables Charge Off (in millions)

2006   $37.5
2007  $51.3
2008  $122.5
2009  $223.4
2010  $102.9
2011   $57.6
6/30   $23.1
(Source: FDIC)

Swiss banks closing U.S. accounts
http://www.upi.com/Business_News/2012/10/20/Swiss-banks-closing-US-accounts/UPI-31441350748997/

 

• Contract Negotiations • Fraud Investigations  • Credit Investigations • Skip-tracing  • Third-party Commercial Collections John Kenny  Receivables Management For flat fee or commissions basis  john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

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

 

 

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You May Have Missed---

Ballmer bets the company on Windows 8
http://www.usatoday.com/story/tech/2012/10/21/ballmer-microsoft-windows-8-release/1636767/



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SparkPeople--Live Healthier and Longer

SparkPeople--Live Healthier and Longer

Choosing a Walking or Running Route
http://www.sparkpeople.com/resource/fitness_articles.asp?id=389

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Sports Briefs----

 

San Francisco Giants win again to force Game 7
http://www.contracostatimes.com/giants/ci_21825131/san-francisco-giants-win-again-force-game-7
http://www.stltoday.com/sports/baseball/professional/giants-make-cards-lead-disappear/article_5fbbcf6c-1bf9-11e2-83cb-001a4bcf6878.html

Cowboys get much-needed road win in ugly fashion; Sean Lee, Phil Costa hurt
http://www.dallasnews.com/sports/dallas-cowboys/headlines/20121021-cowboys-get-much-needed-road-win-in-ugly-fashion-sean-lee-phil-costa-hurt.ece

Patriots beat Jets in overtime
http://www.boston.com/sports/football/patriots/2012/10/21/patriots-beat-jets-overtime/XsQyckES9of1d8KTU3n9rK/story.html

Texans dominate Ravens 43-13
http://www.boston.com/sports/football/2012/10/21/texans-dominate-ravens/RPpF2VfqQG6bePX1lyqM6H/story.html

Janikowski's FG lifts Raiders in OT
http://www.sfgate.com/raiders/article/Janikowski-s-FG-lifts-Raiders-in-OT-3969616.php

Redskins vs. Giants: After taking late lead, Washington gives it right back in 27-23 loss
http://www.washingtonpost.com/sports/redskins/redskins-vs-giants-new-york-outlasts-washington-in-fourth-quarter-shootout-27-23/2012/10/21/95efeb4c-1bbb-11e2-9cd5-b55c38388962_story.html

San Diego Charges Investigagted for using "sticum"
http://sports.yahoo.com/blogs/nfl-shutdown-corner/nfl-investigating-chargers-possible-illegal-stickum-substance-171138159--nfl.html

Junior Seau: Bitter endgame
http://www.utsandiego.com/news/2012/oct/21/bitter-endgame/

 

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Stop Action

Slowly as in an underwater dance
the shortstop dips to take the ball
on a low hop, swings back his arm, balancing
without thought, all muscles intending
the diagonal to the first baseman's glove.

As the ball leaves his hand, the action stops —
and, watching, we feel a curious poignancy,
a catch in the throat. It is not this play only.
Whenever the sweet drive is stopped
and held, our breath wells up like the rush

of sadness or longing we sometimes feel
without remembering the cause of it.
The absolute moment gathers the surge
and muscle of the past, complete,
yet hurling itself forward — arrested
here between its birth and perishing.

Written by Conrad Hilberry, published in
“Line Drives,” 100 Contemporary Baseball
Poems edited by Brooke Horvath and Tim Wales,
published by Southern Illinois University Press

 

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California Nuts Briefs---

Windsor earns 'bicycle friendly' designation
http://www.pressdemocrat.com/article/20121021/ARTICLES
/121029963/1350?Title=Windsor-earns-bicycle-friendly-designation

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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

In Northern California, Grape harvesters rush to beat the rain
http://www.pressdemocrat.com/article/20121021/ARTICLES/
121029955/1350?Title=Grape-harvesters-rush-to-beat-the-rai

The late-season charms of Sauvignon Blanc
http://www.sfgate.com/wine/wineselections/article/The-late-season-charms-of-Sauvignon-Blanc-3965375.php

Wine experts: France worst grape harvest in half century
http://www.businessweek.com/ap/2012-10-17/wine-experts-worst-harvest-in-half-a-century

Past Forward: Could the Next ‘Cult Wine’ Come From Manhattan?
http://6thfloor.blogs.nytimes.com/2012/10/17/past-forward-could-the-next-%E2%80%98cult-wine%E2%80%99-come-from-manhattan/

Bill Foley: A Vineyard Bargain Hunter
http://online.wsj.com/article/
SB10000872396390443635404578038884022420900.html

 

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

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

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

     1721- Unofficial Birthday of Peyton Randolph, first president of the Continental Congress, died 1775, October 22.
http://www.history.org/Almanack/people/bios/biorapey.htm
    1812 -- American Mountain man Grizzly Adams born Medway, Massachusetts.
http://www.amazon.com/exec/obidos/ASIN/068816370X/
pro3-20/103-0205572-2897419
http://www.grizzlyadams.net/
    1836- Sam Houston inaugurated as first elected president of Republic of Texas
http://www.tsha.utexas.edu/handbook/online/articles/view/HH/fho73.html
    1844 -The "Great Disappointment" began when this latest date, set for the return of Christ by religious leader William Miller, passed without event. Over 100,000 disillusioned followers returned to their former churches, or abandoned the Christian faith altogether.
http://www.museumofhoaxes.com/disappointment.html
http://www.pbs.org/wgbh/pages/frontline/shows/apocalypse/
explanation/amprophesy.html
http://www.gospelcom.net/chi/DAILYF/2001/10/daily-10-22-2001.shtml
    1862 - Battle at Old Fort Wayne, Indian Territory (Oklahoma). Brig. Gen. James G. Blunt and his troops attacked Col. Douglas H. Cooper and his Confederate command on Beatties Prairie near Old Fort Wayne at 7:00 am on October 22, 1862. The Confederates put up stiff resistance for a half hour, but overwhelming numbers forced them to retire from the field in haste, leaving artillery and equipage behind. This was a setback in the 1862 Confederate offensive that extended from the tidewater in the east to the plains of the Indian Territory of the west.
    1875- Sons of the American Revolution organized.
http://www.sar.org/
    1883-The Metropolitan Opera House opened in New York City with Charles Francois Gounod's “Faust,” sung in Italian. Anjugusto Vianesi was the conductor. Faust was sung by Italo Campanini, Mephistopheles by Franco Novara, Valentin by Giuseppe Del Pente, Wagner by Ludovico Contini, Siebel by sofia Scalchi, Marthe by Louise Lablache, and Marguerite by Christine Nilsson. Admission was priced at $6 for the orchestra stalls, $3 for the balcony, and 42 for the family circle.
http://memory.loc.gov/ammem/today/oct22.html
    1898-Birthday of composer-pianist Ralph Yaw, Enosburg Valls, VT, arranged 40 originals for Stan Kenton.
    1903-Birthday of George Beadle, born on a farm near Wahoo, NE, Beadle began his pro­fessional career as a professor of genetics at Harvard, eventually becoming president of the University of Chicago. Dr. Beadle won many international prizes, including the Nobel Prize for Medicine in 1958 for his work in genetic research, as well as the National Award of the American Cancer Society in 1959 and the Kimber Genetica Award of the National Academy of Science in 1960. Beadle demonstrated how the genes control the basic chemistry of the living cell. Because of his work, he has been termed “the man who did most to put modern genetics on its chemical basis.” Beadle died June 9,1989, at Pomona, CA.
    1906- Race riot for four days in Atlanta, Georgia, ten blacks and two whites were killed. Historians state racism prevailed until Rosa Parks and Dr. Martin Luther King, Jr. in the late 1950's (that is another story ).Lynchings of Americans was common, in the 20th century from seventy-five to one hundred per year, and it appears until the late 1920's, when it became less than 25 known lynchings per year. In 1922, an anti-lynching bill was filibustered in the US Senate.
http://www.wpba.org/jimcrow/01/crow.html
http://www.wpba.org/jimcrow/index.html
http://memory.loc.gov/ammem/aap/timelin3.html
    1906 -- 3,000 blacks demonstrate and riot in Philadelphia to protest a theatrical presentation of Thomas Dixon's "The Clansman". D.W. Griffith “The Birth of the Nation” is an adaptation of this novel turned into a play.
http://www.emedialive.com/Articles/ReadArticle.aspx?CategoryID=
30andArticleID=4934
    1913 -- Action/war photographer Robert Capa ( real name Andre Friedmann) born Budapest, Austro-Hungary. Instrumental in forming photographer- owned outfit (Magnum) to aid photographers and distribute their work cooperatively. Capa took some of the most famous war photos ever, including anarchists and Republicans during the Spanish Revolution of 1936. Shortly after taking this photograph, Capa, who had taken numerous famous photos of D-Day in World War II, stepped on a land mine and was killed in Vietnam, May 24, 1954.
http://digitaljournalist.org/issue9711/req_images/Req02.jpg
http://www.photo-seminars.com/Fame/capa.htm
http://www.icp.org/chim/bio/caparobe.html
http://www.pbs.org/wnet/americanmasters/database/capa_r.html
    1918 -- Flu epidemic strikes one fourth of all Americans, killing 200,000 in the month of October alone, killing 675,000 in the United States alone.
http://www.ninthday.com/spanish_flu.htm
http://www.stanford.edu/group/virus/uda/
http://www.pbs.org/wgbh/amex/influenza/
    1922-The passage of the anti-protectionist Underwood-Simmons Act took a bite out of the nation's pocketbook. To compensate for the lost income, Congress passed the Revenue Act on, mandating the first tax on incomes over $3,000.
    1928 -- President Herbert Hoover speaks of "American system of rugged individualism". "We in American today are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us. We have yet reached the goal, but, given a chance to go forward with the policies of the last eight years, we shall soon with the help of God be in sight of the day when poverty will be banished from this nation." In November he would be elected in a Republican landslide with 444 electoral votes to Alfred E. Smith 87: 21,392,190 votes to 15,016,433 for Smith. In congressional elections the Republicans increased their majorities in both houses, leading in the Senate 56-39 with one seat going to a minor party, and controlling the House 267-167, with one seat held by a minor party.
    1928- Birthday of 1928 Composer/pianist Clare Fisher Birthday
http://www.clarefischer.com/
    1934-Charles "Pretty Boy" Floyd is shot by FBI agents in a cornfield in East Liverpool, Ohio. Famed agent Melvin Purvis asked the dying man, "Are you Pretty Boy Floyd?" to which he replied, "I am Charles Arthur Floyd. You got me this time." Floyd, who had been a hotly pursued fugitive for four years, used his last breath to deny his involvement in the infamous Kansas City Massacre, in which four officers were shot to death at a train station. He died shortly thereafter. A folk hero to the people of Oklahoma who saw him as a "Sagebrush Robin Hood", stealing from rich banks to help the poor eat by buying them groceries and tearing up their mortgages during the robberies. Written into legend through song, in Woody Guthrie's "Pretty Boy" Floyd. He was never part of a gang, working with a few trusted accomplices. Boldly entering banks in broad daylight, never wearing a mask. A gentleman even in his crimes, always well groomed, immaculately dressed and courteous to his victims.
http://www.geocities.com/CapitolHill/Lobby/3935/
“Come gather 'round me children, a story I will tell
Of Pretty Boy Floyd, an outlaw, Oklahoma knew him well
Was in the town of Shawnee on a Saturday afternoon
His wife beside him in the wagon as into town they rode
A deputy sheriff approached them in a manner rather rude
Using vulgar words of language and his wife she overheard
Well, Pretty Boy grabbed a long chain, and the deputy grabbed a gun
and in the fight that followed, he laid that deputy down
Then he took to the trees and rivers to lead a life of shame
Every crime in Oklahoma was added to his name
Yes he took to the trees and timbers on the Canadian river shore
and the outlaw found a welcome at many a farmer's door
Yes, there's many a starving farmer, the same story told
How the outlaw paid their mortgage and saved their little home
Others tell about a stranger who came to beg a meal
and underneath the napkin left a thousand dollar bill
It was in Oklahoma City, it was on a Christmas day
Came a whole carload of groceries and a letter that did say
Well, you say that I'm an outlaw, and you say that I'm a thief
Here's a Christmas dinner for the families on relief
Well, as through the world I've rambled, I've seen lots of funny men
Some rob you with a six gun, some with a fountain pen
As through this world you ramble, as through this world you roam
You'll never see an outlaw drive a family from it's home
— Woody Guthrie
    1936-First commercial flight from mainland to Hawaii. United Air Lines that also won the mail contract. It was over a fifteen hour trip from the mainland. In 1941, Hawaiian Airlines, now Aloha Airlines, started a regular service to the mainland from Oakland, California. 1946, Aloha Airlines started regular travel. In the early 1950's, it was down to a twelve hour flight.
http://www.maui-activities.com/historyhawaiiairtravel.htm
    1937- Benny Goodman records “Pop Corn Man,” (V ). A real rarity. Only 10 original 78's remain after a mysterious “recall”
    1938- Chester Floyd Carlson, a research physicist from New York City, made the first electro photographic image on wax paper pressed against an electrostatically charged, sulfur-coat zinc plate dusted with fine dark powder. He went on to develop Xerography, the process of making dry paper copies based on the principles of photoconductivity and electrostatics. He patented it on October 6,1942, calling it xerography. He failed to interest companies in producing copy machines until 1947, when the Haloid Company of Rochester, New York, licensed the process. The company, which later changed its name to Xerox, introduced its first copy machine in 1958.
    1944--HAJIRO, BARNEY F. Medal of Honor
Private Barney F. Hajiro distinguished himself by extraordinary heroism in action on 19, 22, and 29 October 1944, in the vicinity of Bruyeres and Biffontaine, eastern France. Private Hajiro, while acting as a sentry on top of an embankment on 19 October 1944, in the vicinity of Bruyeres, France, rendered assistance to allied troops attacking a house 200 yards away by exposing himself to enemy fire and directing fire at an enemy strong point. He assisted the unit on his right by firing his automatic rifle and killing or wounding two enemy snipers. On 22 October 1944, he and one comrade took up an outpost security position about 50 yards to the right front of their platoon, concealed themselves, and ambushed an 18-man, heavily armed, enemy patrol, killing two, wounding one, and taking the remainder as prisoners. On 29 October 1944, in a wooded area in the vicinity of Biffontaine, France, Private Hajiro initiated an attack up the slope of a hill referred to as "Suicide Hill" by running forward approximately 100 yards under fire. He then advanced ahead of his comrades about 10 yards, drawing fire and spotting camouflaged machine gun nests. He fearlessly met fire with fire and single-handedly destroyed two machine gun nests and killed two enemy snipers. As a result of Private Hajiro’s heroic actions, the attack was successful. Private Hajiro’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit upon him, his unit, and the United States Army. 
    1946-Top Hits
Five Minutes More - Tex Beneke
To Each His Own - Eddy Howard
South America, Take It Away - Bing Crosby and The Andrews Sisters
Divorce Me C.O.D. - Merle Travis
    1950-Charles Cooper becomes one of the first Blacks to play in an NBA game ( for the Boston Celtics).
    1952- The complete Jewish Torah was published in English for the first time. A collection of oral and written commentary (dating 200 BC to AD 500) on the first five books of the Old Testament, the Torah comprises the basic religious code of Judaism
    1952 - USAF ace Major Robinson "Robbie" Risner, flying an F-86 Sabre out of the 4th Fighter-Interceptor Wing, claimed his sixth MiG-15 of the war. 
    1954—Top Hits
Hey There - Rosemary Clooney
I Need You Now - Eddie Fisher
If I Give My Heart to You - Doris Day
I Don't Hurt Anymore - Hank Snow
    1954 - As a result of the Geneva accords granting Communist control over North Vietnam, U.S. President Dwight D. Eisenhower authorized a crash program to train the South Vietnamese Army. 
    1955-The first post office manned by Blacks opens in Atlanta, GA.
    1959- Under intense public pressure and the Massachusetts Committee Against Discrimination investigation, the Red Sox become the last club to integrate. Fourteen years after the club passes on Jackie Robinson despite a successful tryout in 1945, Elijah 'Pumpsie' Green pinch runs and plays shortstop to become the first black to play for the Red Sox.
    1960 - The New Yorker magazine publishes Hub fans bid Kid Adieu, an article by 28-year old John Updike which chronicles Ted William's last game in the major leagues. The future Pulitzer Prize-winning author, among the 10,000 fans to watch the fabled game in Boston, ends the much celebrated baseball essay with, "Gods do not answer letters,” as an explanation of why the 41-year old superstar did not acknowledge the Fenway faithful after homering in his final major league at-bat.
    1961- In response to the ever-expanding "twist" craze, Chubby Checker performs his original hit from a year ago, "The Twist," along with the follow-up smash "Let's Twist Again," in a medley on CBS-TV's Ed Sullivan Show. The resultant attention boosted both singles back into the Hot 100, and shot "The Twist" back to #1 in early 1962, marking the only time the same single has hit the top spot in two separate years.
    1961-The Supremes become the first all-female group to score a No. 1 album, with Supremes a Go-Go. Members Diana Ross, Mary Wilson, and Florence Ballard met as teenagers in the housing projects of Detroit. When several male friends, including future Temptations members Eddie Kendricks and Paul Williams, formed a singing group called the Primes, the girls dubbed their own group the Primettes. The Primettes signed with Motown records in 1961. The label immediately changed the group's name to the Supremes. After several years of releasing flops, the Supremes scored their first hit in 1964 with "Where Did Our Love Go," which sold two million copies. They followed up with numerous other hits, including "Stop! In the Name of Love!" and "Back in My Arms Again." Their growing popularity corresponded with the rise of the civil rights movement, and the group came to symbolize strong, independent black women. They appeared regularly on major national TV shows such as The Ed Sullivan Show and The Tonight Show.
    1961- Defensive back Erich Barnes of the New York Giants tied an NFL record by returning an intercepted pass 102 yards for a touchdown in the Giants' 17-16 loss to the Dallas Cowboys.
    1962 -Pacific Science Center opens at Seattle Center
http://www.pacsci.org/
    1962-President John F. Kennedy, in a nationwide television address Oct 22, 1962, demanded the removal from Cuba of Soviet mis­siles, launch equipment and bombers, and imposed a naval “quar­antine” to prevent further weaponry from reaching Cuba. Kennedy charged the Soviet Union with subterfuge and outright deception in what he referred to as a "clandestine, reckless, and provocative threat to world peace." He dismissed Soviet Foreign Minister Andrei Gromyko's claim that the weapons in Cuba were of a purely defensive nature as "false." Harking back to efforts to contain German, Italian, and Japanese aggression in the 1930s, Kennedy argued that war-like behavior, "if allowed to grow unchecked and unchallenged, ultimately leads to war." The president outlined a plan of action that called for a naval blockade to enforce a "strict quarantine on all offensive military equipment under shipment to Cuba." He also issued a warning to the Soviets that the United States would retaliate against them if there was a nuclear attack from Cuba, and placed the U.S. military in the Western Hemisphere on a heightened state of alert. On Oct 28, the USSR announced it would remove the weapons in ques­tion. In return, the US removed missiles from Turkey that were aimed at the USSR.
    1962—Top Hits
Monster Mash - Bobby “Boris” Picket
Do You Love Me - The Contours
He's a Rebel - The Crystals
Mama Sang a Song - Bill Anderson
    1963-- 225,000 boycott Chicago schools to protest segregation 
    1964 -- Mod rockers the High Numbers fail their audition with the EMI label, but within a year will find success on Brunswick Records as The Who.
    1965 - The Kingston Trio guest star as themselves on tonight's "The Duel" episode of NBC-TV's WWII drama Convoy.
    1965 - The temperature soared to 104 degrees at San Diego, CA. Southern California was in the midst of a late October heat wave that year. Los Angeles had ten consecutive days with afternoon highs reaching 100 degrees.
    1966-The Beach Boys' "Good Vibrations" made its debut on the US singles chart. It was a song that Brian Wilson and Mike Love wrote and Brian spent six months working on. The tracks were recorded in seventeen different sessions in four Los Angeles studios, at a cost of over sixteen thousand dollars. The recording engineer would later say that the last take sounded exactly like the first, six months earlier. The record would reach number one on December 10th 1966, and be nominated for Song Of The Year at The Grammy Awards, but lost to "Winchester Cathedral" by The New Vaudeville Band.
    1969-Led Zeppelin II is released.
    1970—Top Hits
I'll Be There - The Jackson 5
Green-Eyed Lady - Sugarloaf
All Right Now - Free
Sunday Morning Coming Down - Johnny Cash
    1971 - Folk singer Joan Baez received a gold record for her hit, "The Night They Drove Old Dixie Down". It turned out to be her biggest hit, peaking at #3 on the charts (October 2, 1971).
    1972-- The A's win their first championship in 42 years as they defeat the Reds 3-2 in Game 7 of the Fall Classic. World Series MVP Gene Tenace, who had only hit five home runs in the regular season, connects for four round trippers in the seven games against Cincinnati.
    1974 Two very well-known outfielders are traded for one another as the Giants send Bobby Bonds to the Yankees for Bobby Murcer. Considered to be the biggest one-for one trade in baseball history, the swap of the next 'Willie Mays' (Bonds) for the next 'Mickey Mantle (Murcer) marks the first time two $600,000 players have been exchanged.
    1975-The World Football League, a 10-team enterprise, struggling through its second season, suspended operations and disbanded prior to the 12th week of a 20-week schedule.
    1975 - Cincinnati Reds manager Sparky Anderson said, “We were the best team in baseball, but not by much.” The World Series featured five one-run victories, two in extra innings and three on game-ending hits. In six of the seven victories, the winner trailed; four times the winning run came in the final inning. And 13 times, the score was either tied or the lead reversed. And in the seventh, played this day, a ninth-inning RBI single by Joe Morgan gave the Reds a 4-3 victory over the Boston Red Sox and the title. It was the first title for the Reds in 35 years.
    1978---Top Hits
Kiss You All Over - Exile
Hot Child in the City - Nick Gilder
Reminiscing - Little River Band
Tear Time - Dave and Sugar
    1985 - A guest on the top floor of a hotel in Seattle, WA, was seriously injured while talking on the phone when lightning struck. Several persons are killed each year when the electrical charge from a lightning bolt travels via telephone wiring.
    1986 - U.S. President Ronald Reagan signed the Tax Reform Act of 1986 on this day, but wrote his last name first. The signing, however, remains legal.
    1986 -- Jane Dornnacker WNBC-AM NYC helicopter traffic reporter dies doing a live traffic report as her copter crashes.
    1986—Top Hits
When I Think of You - Janet Jackson
Typical Male - Tina Turner
True Colors - Cyndi Lauper
Just Another Love - Tanya Tucker
    1987 - Yakutat, AK, surpassed their previous all-time yearly precipitation total of 190 inches. Monthly records were set in June with 17 inches, in September with 70 inches, and in October with more than 40 inches. (Sandra and TI Richard Sanders - 1987) Twenty-two cities in the eastern U.S., most of them in the southeast states, reported record low temperatures for the date. Morning lows of 30 degrees at Athens GA, 28 degrees at Birmingham AL, and 23 degrees at Pinson AL, were the coldest of record for so early in the season. (The National Weather Summary) Showers produced heavy rain in southern California, with amounts ranging up to five inches at Blue Jay. Flash flooding resulted in two deaths, ten injuries, and more than a million dollars damage.
    1988 - Phil Collins' remake of the Mindbenders' "Groovy Kind of Love" was the number one U.S. single. It was parked at the peak of the pops for two weeks.
    1988 - Elton John sells out his upcoming show at Madison Square Garden, setting a venue record with 26 straight Elton sellouts.
    1988 - A "nor'easter" swept across the coast of New England. Winds gusted to 75 mph, and large waves and high tides caused extensive shoreline flooding. A heavy wet snow blanketed much of eastern New York State, with a foot of snow reported in Lewis County
    1991- General Motors announces nine month loss of $2.2 billion. This >was big news then, but nothing compared to the staggering losses of Enron, Worldcom, and others in 2002.
    1992-Members of Boyz II Men receive awards for having the longest running #1 song of the rock era. "End Of the Road" broke Elvis' record of 11 weeks, previously held by "Don't Be Cruel/Hound Dog".
    Top Hits---1993
Dreamlover- Mariah Carey
Just Kickin It- Xscape
I d Do Anything For Love (But I Won t Do That)- Meat Loaf
All That She Wants- Ace Of Base
    1996-Microsoft launched Expedia, an online travel service, on this day in 1996. The service allowed travelers to find the lowest listed airfares and make plane and hotel reservations. The company hoped to take advantage of the estimated $3 billion in online ticket sales expected to be spent yearly by 1999.
    1996 -- Apple announces that The Beatles have sold an unprecedented 19 million albums this year as a result of the Anthology juggernaut, with 41% of those sales, according to polls, going to fans who weren't even born when the group broke up.
    1998-Bob Dylan played in his hometown of Duluth, Minnesota for the first time since the '60s. The show sold out in just five hours. 
    2000 -In Game 2, the Yankees extend their World Series winning streak to 14 consecutive games defeating the Mets, 6-5 in a game which is overshadowed by Roger Clemens throwing the barrel of a shattered bat Mike Piazza as the Met catcher runs to first. The eagerly awaited at bat, due to the Rocket's beaning of the Mets' superstar in July, results in the two players confronting one another and the emptying of both benches.
    2002- Giant P.A. announcer Rene Brooks-Moon become the first woman to announce a World Series. Her scorecard from Game 4 is being sent the Hall of Fame.
    2000 - George Michael pays almost three million dollars for John Lennon's famous upright Steinway piano, on which the ex-Beatle wrote the international anthem "Imagine." Michael issued a statement saying, in part, "I know that when my fingers touch the keys of that Steinway, I will feel truly blessed."
    2002— Top Hits
Dilemma- Nelly Featuring Kelly Rowland Gangsta Lovin'- Eve Featuring Alicia Keys
Ruff Ryders | ALBUM CUT | Interscope
A Moment Like This- Kelly Clarkson
Hey Ma- Cam'ron Featuring Juelz Santana, Freekey Zekey and Toya
    2005 - ABBA's 1974 hit "Waterloo" is voted the best song in the history of the Eurovision Song Contest, decided by voters from 81 countries during a ceremony to mark the famous European event's 50th anniversary.
    2006 -- The Spiezio become the first father-and-son combination in baseball history to have appeared in a World Series game as a player for the same franchise. Scott, the Cardinals' current second baseman, and his father, Ed, a third baseman for the club in the 1967 and '68, both played (and won) in the Fall Classic with St. Louis.
    2011- In the Cardinals' 16-7 rout of the Rangers in Game 3 of the Fall Classic, Albert Pujols hits three home runs homers, drives in six runs and collects five hits, all equaling World Series records. 'Prince Albert', who also set a Series mark with 14 total bases, connects on fastballs from three different Texas pitchers, joining Babe Ruth and Reggie Jackson for the most round-tippers in a World Series game.

World Series Champions This Date

    1972 Oakland Athletics
    1975 Cincinnati Reds