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Leasing News is a web site that posts information, news, and
entertainment for the commercial bank, finance and leasing industry

kitmenkin@leasingnews.org
   

 


Software Programmer
Fort Collins, Colorado


SQL & .Net programmer for Vision Commerce
Platform, Min. 2yr. exp.,Bachelor’s degree
---or Course Work in related field
Click here for more information

www.pawneeleasing.com
-Est. 1982, specializing in the under $75,000
marketplace to smaller, closely-held businesses--

 



Friday, October 25, 2013




Today's Equipment Leasing Headlines

Archives---October 25, 2000
 Unicapital Unwinding—Rebirth of BSB Leasing
  Classified Ads---Sales
Blue Bridge announces New Growth Capital
 Expands Financing Abilities
  New Hires—Promotions
   Classified Ads---Help Wanted
September Brings Down 3rd Quarter Leasing Business
 ELFA-MFLI-25 Report with Chart Reports
  Car Leasing Hits First Increase in Seven Months
   Two New CLPs---Arvest Equipment Finance
    Eric Bunnell, CLP---Teena Smith, CLP
     Three Leasing Conferences in November
      NAELB/AGLF/CFA
  Merger/Acquisitions--Online and Mobile Banking
   Helping to Fuel Bank Branch Consolidation
    by Kevin Dobbs and Tahir Ali
     Conspiracy to Commit Food Stamp Fraud
      Convenience Store Owner Gets 40 Months
       Classified ads—
        Collector/Collections/Consultant/Communications
     Vampyr/The Eyes Without a Face/Psycho
      The Brood/the Shining
       Halloween Specials by Fernando Croce
        Labrador Retriever/Hound Mix
         Buffalo, New York Adopt-a-Dog
News Briefs---
Mortgages swoon to lowest level since June
 NetSol Technologies Releases Next Generation Platform
  for Auto and Equipment Asset Financing & Leasing Industry
   Bank of America to cut 3,000 jobs in fourth quarter
    Fed proposes big banks keep more cash and assets on hand
     LinkedIn: Our Future Is Mobile

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

www.leasingcomplaints.com (Be Careful of Doing Business)
www.evergreenleasingnews.org

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
      California Nuts Brief---
       "Gimme that Wine"    
          This Day in American History
         SuDoku
           Daily Puzzle
             GasBuddy
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer


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[headlines]

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

Archives---October 25, 2000
Unicapital Unwinding---Rebirth of BSB Leasing

I will stick by my comments yesterday on this, plus BSB making a formal proposal to Unicapital and an unwinding of this company.

These are companies that Unicapital purchased, until they basically ran out of money to acquire companies. Many were in the "hard credit" or "challenged credit" or franchise financing business.

American Capital Resources 2/98
Boulder Capital Group 2/98
Cauff, Lippman Aviation 2/98
Jacom Computer Services 2/98
Matrix Funding 2/98
Merrimac Financial Associates 2/98
Municipal Capital Markets Group 2/98
The NSJ Group 2/98
Portfolio Financial Servicing 2/98
Vanlease 2/98
The Walden Group 2/98
K.L.C., Inc. dba Keystone Leasing 5/98
Jumbo Jet 7/98 HLC Financial 7/98
Saddleback Financial Corporation 7/98 U.S.
Turbine Engine Corp. 7/98
The Myerson Companies dba BSB Leasing 9/98

UniCapital's stock, like those of many other financial services companies, took a steep dive in late August and early September 1998. This decline in stock value rendered it unattractive and eliminated its value as acquisition consideration.

One of the major mistakes, according to industry analysts, was UniCapital’ S entrance into the commercial jet aircraft and engine leasing market. It is reported that the Aircraft Group had unlimited abilities in closing deals. According to information given to me, when insiders went to the CEO about the poor credit decisions, particularly with used aircraft prices going downwards, the CEO told them they did not know what they were talking about. It was reported this was his "baby" and it was his basic decision, over other objections, to acquire the refurbishing along with aircraft and engine leasing to build a leasing department that no one had been able to control before, and in his view, this was an industry that would be very profitable.

Allegedly, the CFO had a great deal of trouble confronting his younger brother, who was CEO at the time. While the CFO has reportedly told others about his concern, he was "afraid" to bring up many of these problems directly with his brother, according to one highly reliable source told me.

As business was changing, it became evident to those with leasing experience that the CEO knew very little about the leasing business itself, according to several inside sources.. Everyone I spoke with told me it appeared managements main thrust, their main occupation was to try and please the Wall Street investors. This was the impression given to many divisions visited by the CEO, who was not building up support from people who "knew" the leasing industry and how it was supposed to work.

I was told by several of the divisional company management, who do not want me to quote them, that they had little respect for him. I was told the former CEO didn't seem to care, that his attention all went to raising money rather than to operations in the street, which he considered "below him." He was a "New Yorker," although the operation was in Florida. The attitude was that Wall Street ran the company. Morale was also poor in the operating area, as it left the impression not only from senior management, but was seen by middle-management.

There is an interesting story when the top management team first visited BSB Leasing in Colorado, they arrived in two long stretch limousines ( they could not all fit in one ), dressed as if they had just arrived from New York City in expensive suits, ties, and well-polished shoes. They got stuck for over a half-hour going up the elevator. They definitely were not in a good mood when they meant casually dressed, hardworking, “hands on crowd" at BSB. It was evident, I am told, they didn't like Colorado, or the people who lived and worked for them. Talk about an East attitude toward a Western lifestyle!

BSB has made an offer last Friday to purchase their company back.

Kit Menkin

TODAY

Don Myerson
President
BSB Leasing, Inc.
1 Inverness Dr. East
Englewood, Colorado 80112
dmyerson@bsbleasing.com
800-945-3372 Ext. 336

I started to offer Denrich’s leasing product to my copier customers in 1982 under the company name Business Systems Brokers dba BSB Leasing (You think I could make up a name like that ?) After about a year I was making more profit brokering leases to Denrich then I was selling used copiers. And I didn’t have to worry about providing service on the lease like I did with the copiers.

In 1983 I sold my last copier and became BSB Leasing exclusively. I moved out of my garage (It was very cold in winter), moved into a real office and hired my first employee. The next twelve years were spent building a nice profitable little business working with equipment vendors in the Denver area.

In 1995, BSB Leasing was selected by Colonial Pacific Leasing to become a service center for brokers in the Western United States under a program they developed named Pegasus. That year BSB Leasing began working with lease brokers.

In 1998, after growing to 40 employees, opening offices in Denver and Cherry Hill, New Jersey, and $75 million in annual funding, BSB Leasing was sold to UniCapital Corporation, a public company in Miami, Florida. I became a unit President reporting to Bruce Kropschot, then a Vice-Chairman of UniCapital.

After 2 years under the ownership of UniCapital in 2000 I re-acquired BSB Leasing along with my management team of Bruce Zwillinger and Ron Gonzales.

I continue to serve as President of BSB Leasing, Inc., working primarily out of my home on Kauai while Ron Gonzales runs the day to day from our headquarters in Denver. Bruce Zwillinger semi-retired in October, 2012 but continues to work with a select group of brokers.

In 2013 BSB Leasing, Inc. continues to work with lease brokers nationwide. We offer both direct funding under the BSB Leasing, Inc. name, BSB Direct Finance name, and we offer complete syndication services through our Syndication Desk.

I also serve on the board of Orion First Financial, LLC., and Mintaka Financial, LLC., in Gig Harbor, WA. In addition I serve as Chief Credit Officer of Mintaka Financial, LLC since 2008.



[headlines]
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Classified Ads---Sales


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


Boston, Mass.
Accomplished Sales & Relationship Management Professional with business development experience in the financial services industry. Recognized by market leaders as industry expert in Professional Practice financing, as well as Residential Mortgage Lending. Keen insight and understanding of transaction process and financial requirements of customer. Proven record of exceeding sales goals. deb.harold@hotmail.com
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

Top

 

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

Working Capital Loans $10,000-$250,000


[headlines]
--------------------------------------------------------------


Blue Bridge announces New Growth Capital
Expands Financing Abilities


Blue Bridge Financial, LLC, Buffalo, New York secured growth capital that "collectively will allow us to double our business in the next 12 months and same in the following 12 months." The funds come from Triton Pacific Capital Partners and Bearing Circle High Yield, LLC.


President Brian Gallo commented, “The capital infusion provides Blue Bridge Financial with the necessary capital to offer more aggressive programs to better position our product within the competitive equipment finance industry.”

He said the company initially intends to deploy the capital into growing and expanding its existing loan programs and to reinvest in management level talent to support the Company’s growth.

 

[headlines]
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New Hires—Promotions


Mike Bivins hired as director of sales, Enterprise, Balboa Capital, Irvine, California. Previously he was sales manager Crossroads Equipment Lease & Finance, LLC (September, 2012-September, 2013), vice president, Western Alliance equipment Finance (April, 2011-September, 2012), vice president, US Bank Equipment Finance (May, 2008-April, 2011), vice president sales, California First Leasing, a subsidiary of California First National Bancorp CalFirst (1991-2008). California State University-Chico, Bachelor of Science, Marketing-Economics (1982 – 1987).
www.linkedin.com/pub/mike-bivins/6/975/162/

Ronnie Evans promoted to director of commercial marine finance, Key Equipment finance; "...based out of South Louisiana, and will be responsible for the growth and management of Key Equipment Finance’s growing marine portfolio in the Northeast, Middle Atlantic, Southeast and the Great Lakes and Gulf Coast regions." He joined Key Bank February, 2008. Previously he was manager, business development, Ryder system (2005-2006), vice president of sales, Salem Leasing (2004-2005), regional vice president of sales (First Fleet), PHH Corporation (2002-2004), national account sales manager, PACCAR (January, 2001-January, 2002), national sales executive, Rollins Truck Leasing (January, 1994-January, 2002). Louisiana State University, Business Administration." is active in promoting the marine industry as a member of the American Waterway Operators, and is a panelist at many marine conferences and forums.
www.linkedin.com/pub/ronnie-evans/9/5b3/425

Joe Friedling, Equipment Finance Broker - Independent Commercial Finance Professional, San Luis Obispo, California. Previously business banking officer, U.S. Bank (July, 2012-August, 2013), equipment finance professional, PEC USA (February, 2002-July, 2012), graphics business development, CitiCapital formerly Copelco Capital (1999-2002). The College of New Jersey fka Trenton State College, BS MET, Mechanical Engineering, (1979 – 1983). Activities and Societies: ZBT Fraternity
www.linkedin.com/in/pecusainc

Rob Lubeck promoted to "to Regional Manager in the Commercial Group at TD Equipment Finance, Inc. in New York, N.Y. A Vice President, he is responsible for developing equipment finance opportunities through corporate banking relationships, serving clients in the Metro New York and suburban Long Island markets...(He) has 15 years of experience in finance and banking. He joined TD Bank in 2005 and most recently served in a similar role in TD Equipment Finance’s Small Business Banking Group. Lubeck is a graduate of Rowan University in Glassboro, N.J.
www.linkedin.com/pub/robert-lubeck/1b/b26/192

Chris Raley, Florence, South Carolina, BDM - SC/NC/VA, Engs Commercial Finance. Previously he operated Raley Commercial Finance & Leasing (November, 2008-Sepotember, 2013). Member, Phoenix Port Partners, LLC (June, 2012-Present), director of originations, First Source Business Finance (September, 2011-January, 2013), First Source Funding (August, 2009-September, 2011), vice-president/member, Transportation Capital (November, 20007-October, 2008), managing member, Lender's Remarketing Group, LLC (January, 2006-September, 2008), managing member, First Prime Capital (2000-2007), joined Raley Peterbilt Group fka/ Peterbilt of Florence, corporate manager F&I Manager (1995-1997), general manager-classic carrier (wholly owned sub) (1996-1997), vice president operations/chief operations officer (1997-December, 1999), vice president, sales and finance (January, 2000-June, 2000).Coastal Carolina University (1988 – 1991) Riverside Military Academy (1986 – 1988). West Florence High School.
www.linkedin.com/in/chrisraley




[headlines]
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September Brings Down 3rd Quarter Leasing Business
ELFA-MFLI-25 Report with Chart Reports



(Leasing News chart)

Despite a $7.7 billion September, much higher than the August $6.3 billion new leasing business, the third quarter is a drop from the second quarter. It is also lower than the previous year’s quarter.

A mixed sign, indeed.

Much of this can be attributed to the threatened default, the debt limit of a temporary funding resolution, and perhaps the sequester as well---all of which indecision makes it challenging to plan the future.


"Uncertainty created by the inability of policy makers to come together to agree on sustained tax and spending policy is holding back the U.S. economy, and in particular, capital investment," ELFA President and CEO William G. Sutton, CAE. observed. "The equipment finance industry and our members look forward to getting past this crisis and on with the business of supporting sound growth policies that stimulate capital formation, stabilize the capital markets, and, ultimately, strengthen our economy."

Certainly October, 2013, even though part of the fear was still present, may seem better when released next month. In 2012, October new leasing business was $7.6 million, and certainly better than 2011 the $6.0 billion new business volume.

According to the ELFA MFLI-25 November was not very good in 2012, $6.4 billion and November, 2011, $6.3 billion. It appears the last quarter of the year gets a big jump every year by December, which may be some of the contracts being renewed by ADP and others in the MLFI-25.

MLFI-25 New Business Volume (Year Over Year Comparison)
click to make larger
(ELFA Chart)

There was pessimism as noted in the recent Equipment Leasing and Finance Foundation recent monthly confidence report, dropping in October to 54.0 from 61.3 in September.

October 2013 MCI Survey Comments from Industry Executive Leadership:

Paul Menzel
President & CEO,
Financial Pacific Leasing, LLC

“Our industry is poised to help fuel economic expansion. Unfortunately, the circus in the U.S. Congress is holding back, if not threatening, the recovery we have prepared for.”

Thomas Jaschik
President, BB&T Equipment Finance

“With the continuing dysfunction in Washington due to the lack of any effective leadership, the short-term outlook for the equipment finance industry is very clouded. Demand for financing will likely continue with the see-saw pattern we have experienced over the last several years.”

Kenneth Collins
CEO, Susquehanna Commercial Finance, Inc.

“The dysfunction in D.C. is now at a critical stage. If the government doesn’t learn how to deal with these issues in a more timely manner, we will lose the confidence gained over the last year causing further weakness in the economy.”

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


The ELFA charts below of the MLFI-25 reflect the sentiment, particularly the drop in credit approval ratios.

Aging of Receivables:

click to make larger

Average Losses (Charge-offs) as a % of net receivables
(Year Over Year Comparison)

click image to make larger


Credit Approval Ratios As % of all Decisions Submitted
(Year Over Year Comparison)

click image to make larger

Total Number of Employees
(Year Over Year Comparison)

click image to make larger


ELFA Member Companies Reporting

ADP Credit
BancorpSouth Equipment Finance
Bank of America
Bank of the West
BB&T Bank
BMO Harris Equipment Finance
Canon Financial Services
Caterpillar Financial Services
CIT
De Lage Landen Financial Services
Dell Financial Services
Direct Capital Corporation
EverBank Commercial Finance
Fifth Third Equipment Finance
First American Equipment Finance, a City National Bank Company
GreatAmerica Financial Services
Hitachi Credit America
HP Financial Services
Huntington Equipment Finance
John Deere Financial
Key Equipment Finance
LEAF Commercial Capital Inc.
M&T Bank
Marlin Leasing
Merchants Capital
PNC Equipment Finance
RBS Asset Finance
SG Equipment Finance
Siemens Financial Services
Stearns Bank
Suntrust
Susquehanna Commercial Finance
US Bancorp Equipment Finance
Verizon Capital
Volvo Financial Services
Wells Fargo Equipment Finance

 



[headlines]
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Classified Ads---Help Wanted


Sales Account Executives
Jacksonville, FL/Philadelphia, PA
Small Ticket funder with broad funding and
exceptional vendor service capabilties.
E-mail resume to: garyshivers@navitaslease.com

Navitas Lease Corp is an innovator in the Small Ticket Leasing
Industry.  We offer solutions to small-to-medium sized businsses
looking to acquire and finance equipment.


 


Software Programmer
Fort Collins, Colorado


SQL & .Net programmer for Vision Commerce
Platform, Min. 2yr. exp.,Bachelor’s degree
---or Course Work in related field
Click here for more information

www.pawneeleasing.com
-Est. 1982, specializing in the under $75,000
marketplace to smaller, closely-held businesses--


 

 

5 positions available in our Calabasas office:
Account Executives (2), Funding Coordinator
Credit Analyst, Marketing Administrator

Generous Compensation Packages including benefits.
www.TEQlease.com/careers

 




[headlines]
--------------------------------------------------------------


Car Leasing Hits First Increase in Seven Months


Autodata Corp. reports lease subvention was higher than 5% year-over-year in September. Overall finance subvention fell 4.7% during this same time period.

Auto Remarketing reported that the combined lease volume for August and September exceeded 505,000 units. Lease volume has reached 2.17 million units, according to the J.D. Power data; which also forecasts there will be more than 3 million leases written for full-year 2012.

 


[headlines]
--------------------------------------------------------------

Two New CLPs---Arvest Equipment Finance
Eric Bunnell, CLP---Teena Smith, CLP

President and CEO Kyle W. Gilliam, CLP, Arvest Equipment Finance, Fort Smith, Arkansas, a division of Arvest Bank, also incoming president of the National Equipment Leasing Association, is proud to announce two new Certified Leasing Professionals from his company.


"I am very proud that both Eric and Teena now bring out team to seven CLP's," Kyle Gilliam said." At Arvest Equipment Finance, we promise to deliver customer-focused banking and creative solutions by experienced bankers who enjoy helping our customers succeed."


Eric Brunnell, CLP
Equipment Finance Specialist

"I chose to pursue the CLP to become more knowledgeable in the industry," he said. "I believe continuing education is important no matter what industry you are in.”



Teena Smith, CLP
Sales Support Specialist

"By adding this designation it will help me to understand our industry better and be a more experienced associate,” she stated. "“I wanted to continue to grow in my position with Arvest Equipment Finance and to give the best possible customer service to our customers, lenders and associates."

Companies with more than one CLP:

1. Financial Pacific Leasing – 18
2. First American Equipment Finance – 10
3. Arvest Equipment Finance – 7
4. Orion First Financial – 7
5. Commerce National Bank – 5
6. Great American Insurance – 5
7. Ascentium Capital LLC – 5
8. Bank of the West – 4
9. ECS Financial Services – 4
10. First Star Capital – 4
11. Innovative Lease Services, Inc. – 4
12. Maxim Commercial Capital – 4
13. FSG Leasing - 3
14. LeaseTeam-3
15. Pacifica Capital - 3
16. Banc of California - 3
17. FSG Leasing Inc.- 3
18. Affiliated Investment Group- 2
19. Allegiant Partners- 2
20. Cannon Financial Services-2
21. Clearview Financial-2
22. GO Capital- 2
23. Padco Financial Services- 2
24. Pinnacle Business Finance- 2
25. Portfolio Financial Servicing- 2

 

5 positions available in our Calabasas office:
Account Executives (2), Funding Coordinator
Credit Analyst, Marketing Administrator

Generous Compensation Packages including benefits.
www.TEQlease.com/careers

 


[headlines]
--------------------------------------------------------------

Three Leasing Conferences in November

NAELB/AGLF/CFA







November 1-2, 2013
2013 Eastern Regional
Nashville, Tennessee

If you renew your 2014 dues before October 31, 2013, you can apply the $125 voucher to this year's Eastern Regional Meeting in Nashville instead! 
This makes your registration FREE!

Due to high demand, the 2013 Eastern Regional Meeting hotel has sold out! There are a few hotels close to the Sheraton Music City hotel 
so you can still attend the regional and reap the benefits!

NAELB Recommends

Embassy Suites Nashville - Airport
10 Century Boulevard, Nashville, Tennessee, 37214
Phone: (615) 871-0033
http://embassysuites3.hilton.com/en/hotels/tennessee/embassy-suites-nashville-airport-BNANAES/index.html

Extended Stay America - Nashville - Airport - Music City
727 Mcgavock Pike, Nashville, TN
Phone: (615) 208-7241
http://www.extendedstayamerica.com/hotels/tn/nashville

Nashville Airport Marriott
600 Marriott Drive • Nashville, Tennessee 37214
Phone: (615) 889-9300
http://www.marriott.com/hotels/travel/bnatn-nashville-airport-marriott/

Eastern Regional Exhibitors

360 Equipment Finance
AmeriMerchant
Amerisource Funding, Inc.
Axis Capital
Bankers Capital
Blue Bridge Financial, LLC
Bryn Mawr Funding
BSB Leasing, Inc.
Channel Partners LLC
CLP Foundation
Dakota Financial LLC
Financial Pacific Leasing, LLC
First Federal Leasing
Great American Insurance Group
instaCOVER
Merchant Cash & Capital, LLC
MicroBilt Corporation
NCMIC Finance Corporation
Pawnee Leasing Corporation
Preferred Business Solutions
RLC Funding
TEAM Funding Solutions

Registration
PDF Link



Dwight Galloway, CLP, Senior V.P. Broker Operations. RLC Funding
will be reporting on the NAELB Conference for Leasing News Readers

 


 

November 6-8, 2013
Boca Raton Resort Club, Boca Raton, FL


Conference Preliminary Agenda
http://www.aglf.org/sites/default/files/2013_PreliminaryScheduleEvents.pdf

Registration
http://members.aglf.org/source/events/event.cfm?event=FALL13

$875 Conference Registration
$400 Governmental Registration
(employees of state and local governments)10% Off First time attendees

Hotel Information
http://www.aglf.org/sites/default/files/2013_Hotel.pdf

Travel Information
http://www.aglf.org/sites/default/files/2013_Travel%20Info.pdf

Backpack Stuffing Program
http://www.aglf.org/sites/2013_Backpack%20Stuffing%20Program.pdf

 



 

Commercial Finance Association
69th Annual Convention
November 13 - 15
JW Marriott Los Angeles at L.A. LIVE
Los Angeles, CA


Schedule of Activities
Link

Standard Registration Fees
(Saturday, August 31, 2013 – Friday, November 8, 2013)
Member: $1,295
Non-member: $1,895

On-site Registration Fees
(After Friday, November 8, 2013)
Member: $1,395
Non-member: $1,995

Registration
Link




[headlines]
--------------------------------------------------------------

Merger/Acquisitions--Online and Mobile Banking
Helping to Fuel Bank Branch Consolidation
by Kevin Dobbs and Tahir Ali


---An SNL Exclusive Feature

Advances in technology are driving reductions in bank branch counts, but Mergers and Acquisitions have served as a notable contributor, bankers and analysts say, and likely will continue to play a role as many anticipate deal activity will gradually build in coming quarters.

The latest FDIC Summary of Deposits data, released this month, showed there were 96,341 branches in the U.S. at June 30, down from 97,340 a year earlier and marking the fourth consecutive year of declines.

Observers told SNL that customers' mounting preference for online and mobile banking is leading to less and less foot traffic at branches, providing banks reason to shutter or downsize more underperforming locations. What's more, only modest profitability in recent years is motivating lenders to increasingly look at cost-cutting, further adding reason to shave branch counts.

But deals, too, play a role, as banks often shutter overlapping branches after making acquisitions. This is true in deals big and small. Since Wells Fargo & Co. acquired Wachovia Corp. in 2008, for example, it has shuttered 396 of the target's branches. For a case in point on the smaller end, after M&T Bank Corp. acquired the much smaller Provident Bankshares Corp. in 2009, for a case in point on the smaller end, it closed more than half of the target's branches


And while deal activity has been light relative to the boom years of the 1990s and the early 2000s, analysts say figures are modestly climbing and likely will continue to do so.

There were 110 open-bank deals announced in the first half of 2013, for instance, higher than the 104 in the first half of last year. There also have been more than 20 bank failures this year.

"All the consolidation has contributed to the branch reductions and we think we will continue to see that," Sandler O'Neill & Partners LP analyst Brad Milsaps told SNL Financial.

Milsaps said failures, which are down from last year, likely will continue to decline in number but will trickle in yet this year and next, contributing to deal totals. And, more notably, he said there are a myriad of reasons to think open-bank acquisitions will mount, if slowly, particularly among community banks. Heavy regulatory pressure, high compliance costs, stiff competition from larger players and executive fatigue dating to the troubles of the financial crisis are all factors that Milsaps and others say are bound to bring more small-bank sellers to the deal table.

Would-be buyers, meanwhile, could grow in number, too, as banks grow frustrated with tepid organic growth prospects amid a slow-growth economy and only modest loan demand.

"We are hearing more and more from people on both sides," Jacob Thompson, a managing director of investment banking at SAMCO Capital Markets, told SNL recently. "Activity is building some, but also there are more and more conversations taking place, and we think more of those conversations will result in deals."

MidSouth Bancorp Inc. President and CEO Clive Cloutier agreed with that assessment. And he told SNL that deal activity will inevitably result in fewer branches, as some buyers look to maximize cost-saves by closing targets' branches that are close to their own.

But interestingly, Cloutier said, the greater influence on branch reduction — technology — may ultimately curtail bank M&A.

In the medium term, he said, there is more inevitable consolidation, owing to the conditions Milsaps cites. But longer term, as technology advances and younger, tech-savvy generations age and account for larger shares of banks' regular customers, branches could continue to diminish in importance. Already, Cloutier said, an estimated 5% to 7% fewer customers per year are using physical branches. "They aren't necessarily leaving you; they just don't need to do business in person."

While cost-saves come via closing overlapping branches, banks often traditionally have pursued acquisitions primarily to pick up branches in new neighborhoods or markets and to acquire the customers who go with them. This allows buyers to gain market share or gain entrance to new markets. But if you can steal share or enter new markets via new technology, without opening branches, why bother with deals, at least in the way people view them now, he asked. "If I can do it in a less expensive way, why wouldn't I?"

Cloutier said he does not know exactly how that trend would develop, but with technology constantly advancing and banks steadily evolving with it, it strikes him as likely to happen in coming decades. "Technology is changing everything," he said.

But bottom line: "We're going to continue to see fewer branches," Cloutier said.


 

[headlines]
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### Press Release ############################

Conspiracy to Commit Food Stamp Fraud
Convenience Store Owner Gets 40 Months


Riverside, Calif. – Mohammed Ismail Hossain, 52, of Colton, was sentenced by United States District Judge Jesus G. Bernal to 40 months in federal prison and ordered to pay $6,543,990.67 in restitution for his role in a conspiracy to illegally traffic in food stamp benefits.

According to the Information filed on April 17, 2013, Mohammed Hossain and his wife, Maya Hossain, owned and operated at least six convenience-type stores in the San Bernardino area, which they used to engage in the fraudulent scheme. On June 4, 2013, Mohammad Hossain and Maya Hossain each pleaded guilty to one count of conspiracy and one count of illegal trafficking in food stamp benefits.

In furtherance of the conspiracy, between May 2010 and February 7, 2013, the Hossains illegally exchanged cash for food stamp benefits. Pursuant to this scheme, beneficiaries would swipe their government issued electronic benefits cards – which were to be used only for the purchase of eligible food items – for cash, usually at 50 cents on the dollar. Over the period of nearly three years, the Hossains defrauded the government over $6.5 million by illegally exchanging cash for food stamp benefits.

Maya Hossain, 50, of Colton, was also sentenced on to 18 months imprisonment and ordered to pay $6,543,990.67 in restitution for her role in the conspiracy.

The Hossains were arrested in February 2013 by Federal and local law enforcement agents, including special agents with the United States Department of Agriculture, Office of the Inspector General (OIG) and the Internal Revenue Service Criminal Investigation (IRS CI).

The case is being investigated by special agents with IRS CI and Department of Agriculture-OIG. The prosecution is being handled by Assistant U.S. Attorney Allen W. Chiu and Victor A Rodgers of the U.S. Attorney’s Office for the Central District of California.

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


((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

 

 

[headlines]
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Classified ads—
Collector/Collections/Consultant/Communications

Leasing Industry Outsourcing
(Providing Services and Products)

Collector / Collections / Consultant / Communications

Collector: Atlanta, GA
Asset Recovery Specialist. We get your money or we get your > equipment back for you. Physical Asset Recovery Experts!
E-mail: mcrouse911@joimail.com
Collector: Cleveland, OH 
Huntley Capital & Associates is your solution to late payments, no payments, and asset recovery. Call 216-337-7075. 
Email: ghpatey@msn.com 
Collections: Dallas, Texas
Contingency Fee basis. Receivables Outsourcing. We are a fully bonded nationwide licensed agency. We collect for nationally known banks and leasing companies. 
800-886-8088.
Collector: Los Angeles, CA
Expert skiptracers covering Southern California. We locate skips, judgment debtors and collateral. When you can't get the job done in house, give us a call at
1-800-778-0794.
E-mail: ceo@interagencyLA.com
Collector: Louisville, KY
We are a full service collection agency with attorney network. 21 years experience. Please call Jon Floyd, VP at 1-800-264-6850 
email: jfloyd@collectcsg.com
Collector: Louisville, KY 
Euler Hermes/UMA 92 year old Global Receivables Outsourcing. Presence in 143 Countries. Work w/ 4 out of 5 Fortune 500 firms. Contingency Fee Structure.
20% off first time clients.!
Andrew.Newton@eulerhermes.com
1-800-237-9386 x 205.
Collector: Mandeville, MI
International commercial collection services all fees are on contingency on line access.
E-mail: rmelerine@collect-now.com 
www.drspay.com
www.collect-now.com 


Collector: Milwaukee, WI 
We specialize in ATM machine reposession and remarketing. We can get you top dollar for your inventory.
E-mail: bdperry1@yahoo.com 

Collector: Nationwide
End of lease negotiations & enforcement. Third-party collections. Skip-tracing. Background checks. Credit & asset investigations. 15+ years in leasing industry. Providing services to clients nationwide.
800-824-0234
johnkenny2@verizon.net

Collector: Saint Louis, MO
Complete commercial collection agency. Licensed bonded in all states and will out performed any other agency!
Call 1-800-659-7199 ext.315
E-mail:
 jfloyd@lindquistandtrudeau.com
Consultant: Nationwide
25 yrs. experience: Creating/Refining Business Plans to raise capital· Credit Underwriting support/policy/procedure development · Operations Support/policy/procedure development.
Call: 610-246-2178, McCarthy Financial, LLC,David.mccarthy@mccarthy-financial.com
Consultant: Burlington, CT
We provide our clients with a full range of consulting services such as portfolio conversions, reconciliation, custom programming and leasing operations utilizing InfoLease. 
Email: 
info@new-millennium-assoc.com
Consultant: Europe
15 years doing deals/running own technology leasing company – looking to advise/ lead new entrants to take advantage the European market opportunity.
www.clearcape.co.uk 
or kevin.kennedy@clearcape.co.uk 
Consultant: Henderson, NV
Focus on new business development and process efficiencies to create incremental revenue and profitability. Executive level vendor experience, and satisfied outsourcing clients. Incredible track record.
E-mail: rbutzek@cox.net

Consultant: Sausalito, CA
Lease trainer and consultant. 38 years in equipment leasing. Expert in transaction analysis, financial statement analysis, credit, packaging, structuring. Presents highly popular classes and workshops.
E-mail:BoTei@aol.com

Consultant: North of Detroit, MI 
INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies. Seeking consulting projects nationwide. 
E-mail: darwint@prodigy.net

Consultant: Ridgefield CT.
Lisa Lersner w/20 years exp. specializing in leasing technology now providinglessor selection andmanagement services, includingthe securing of debt and equity and acquisition guidance services.
Email: Email
www.leasefinanceconsulting.com

Communications:Chassell, MI

Cartoons on business, finance & computers. Use for your presentations, website, newletter, direct

mail projects etc. Fees are negotiable. 
Email: dan@danscartoons.com 
http://www.danscartoons.com

 


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http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm



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Leasing News: Fernando's View
by Fernando Croce

Special Halloween Edition Part 1

To many people, Halloween has boiled down to carving grinning faces on pumpkins, buying bags of candy for potential trick-or-treaters, and trying not to laugh when co-workers come to the office dressed like Frankenstein. But does anybody remember the last time a horror movie really scared them? To remedy that, here is part one of our recommendations for a ghoulishly hearty Halloween night.

Vampyr (Carl Theodor Dreyer, 1932): Tired of horror movies that offer little more than blood and guts and the occasional "boo"? In this chilling classic by the Danish master Carl Theodor Dreyer ("The Passion of Joan of Arc"), fear is not something that jumps at you from out of the shadows, but something that slowly but surely gets under your skin. The story tells the tale of Allan Grey (Julian West), a young man obsessed with the occult side of life, who finds himself in a strange new land filled with people who may or may not be supernatural creatures. Based on the works of famed horror writer Sheridan Le Fanu, the film takes its time but conjures forth countless unforgettable images, resulting in the rare movie that ventures beyond scaring you into haunting you.

The Eyes Without a Face (Georges Franju, 1960): A French surrealist whose works explore the individual's oppression by cruel institutions, Georges Franju unsettled audiences with this unforgettable horror fable. Availing himself of Hollywood's classic mad-scientist stories, the director tells the haunting tale of a famous surgeon (Pierre Brasseur) who kidnaps young women and drags them to his mansion in hopes of restoring the face of his disfigured daughter (Edith Scob). Notorious at the time of its release for its unusually graphic horror, the film lingers today more powerfully as a dark fairy tale in which the characters' horrible actions are often inseparable from their devoted love, where the horrible is often intermingled with the lyrical.


Psycho (Alfred Hitchcock, 1960): It’s been analyzed, spoofed and remade countless times, yet Hitchcock’s seminal thriller remains as haunting as ever. Things start out as a morality tale, with young clerk Marion Crane (Janet Leigh) stealing $40,000 from a client and taking off to join her lover. Things take a decidedly darker turn, however, when she checks in Bates Hotel, where the unforgettably weird Norman (Anthony Perkins) lives with stuffed birds and a mysteriously unseen mother. The famous shower murder will still shred nerves, but what really startles is the way the film gradually descends into the portrait of a twisting mind. Famously, Hitchcock impishly called it “just a fun movie,” although viewers then and now may have been too disturbed to agree.


The Brood (David Cronenberg, 1979): It's difficult to pick just one terrifying vision from the man who brought us "Videodrome" and "The Fly," but this Canadian tale may be David Cronenberg's most disturbing works. Focusing on a disturbed woman (Samantha Eggar in a fearless performance) whose suppressed anger is examined by a controversial psychiatrist (Oliver Reed), the film gives literally monstrous shape to our worst emotions. There's certainly no shortage of frightful moments involving grotesque creatures throughout the movie, yet Cronenberg cannily suggests that the scariest things are the circles of pain that come from fractured families and relationships. The result is a queasy tale of internal and external anguish that's as astonishing as it is uncomfortable.


The Shining (Stanley Kubrick, 1980): A director famous for creating descents into cinematic madness, Stanley Kubrick adapts the Stephen King novel and in the process takes a haunted-house yarn and turns it into an unsettling meditation on how evil can renew itself through the ages. Jack Torrance (Jack Nicholson) is a writer who brings his wife Wendy (Shelley Duvall) and son Danny (Danny Lloyd) for a stay at the Overlook Hotel. The family has the enormous place all to themselves, but, as Jack’s mind becomes frighteningly erratic and Danny encounters strange visions in the corridors, it becomes clear that they are not alone. Though it hardly lacks shocks, it is Kubrick’s masterful combination of music, mood and camera that makes it so indelibly creepy

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Labrador Retriever/Hound Mix
Buffalo, New York Adopt-a-Dog


Anna

Female
Six Months Old
D130064

"She is a terribly shy puppy. If you are looking for a puppy that will run up to you and jump in your lap giving lots of puppy kisses… she is not for you. While she gives her foster mom TONS of wonderful kisses and cuddles, this is not something she will do initially, until she is good and ready. Until she feels safe and trusts you. She will initially be fearful of you, at first. She will be looking for any and all ways to retreat (duck under a table or into a corner, etc… “how can I get out of this situation!!!!???”) when she meets someone new. We have found that if another dog is around she warms up much faster… she takes their lead, follows what they do, and seems happy happy happy (tons of happy tail wags!) and so much more confident. Anna loves other dogs, and is like a different dog when her confidence is boosted in this way.

"We have also found that while she is less fearful of females, rather than males – she can still be seen most every night hopping up to cuddle with her foster dad. Although, this was not without a lot of work, understanding and patience from her foster dad :).

"Once Anna settles in (and this will not be over night!) she is, then, like any other normal puppy. Playful, happy, snuggly, mischievous, and everything! But, this will not happen overnight. She needs a patient family/home, with someone who understands she needs to feel safe and needs to trust, before anything else. Once you have that – you have a VERY best friend."

Info@BuffaloHumane.org.

Online application:
http://buffalohumane.rescuegroups.org/forms/form_humanverify

Buffalo Humane Main Office
7007 Campbell Blvd
Pendleton, NY 14120

 

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

Adopt a Pet
http://www.adoptapet.com/

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John Kenny Receivables Management
www.jrkrmdirect.com

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs 
John Kenny
315-866-1167 |  John@jkrmdirect.com




News Briefs----

Mortgages swoon to lowest level since June
http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx?ic_id=Top_Financial%20News%20Center_link_1

NetSol Technologies Releases Next Generation Platform
for Auto and Equipment Asset Financing & Leasing Industry
http://online.wsj.com/article/PR-CO-20131024-908738.html

Bank of America to cut 3,000 jobs in fourth quarter
http://www.upi.com/Business_News/2013/10/24/Bank-of-America-to-cut-3000-jobs-in-fourth-quarter/UPI-86661382634265/

Fed proposes big banks keep more cash and assets on hand
to survive another financial crisis
http://www.washingtonpost.com/business/fed-proposes-big-banks-keep-more-cash-and-assets-on-hand-to-survive-another-financial-crisis/2013/10/24/8d277efe-3cb6-11e3-b0e7-716179a2c2c7_story.html

LinkedIn: Our Future Is Mobile
http://mashable.com/2013/10/23/linkedin-plans-mobile/



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--You May Have Missed It

Finally, a Good Time to Sell the Business



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SparkPeople--Live Healthier and Longer


Six Principles of Smart Eating
http://www.sparkpeople.com/resource/slideshow.asp?show=82


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Baseball Poem

 How It All Started

Anonymous

It all started
when Pedro threw a no-hitter on Opening Day.
Nomar backed him up
with a triple play deep in the hole
and Manny Ramirez smashed
the first of 90 home runs.

Suddenly things got brighter.
Flowers sprang whole from the earth
and the cod swarmed to George's Bank.
The war ended. U.S. Marines
danced in the streets with handsome Fedayeen.
(Jerry Falwell married them off
while the Pope and the imams cheered.)

Israel and Palestine agreed
to share everything: beds, cities, streets,
temples and mosques,
falafel and coffee and tea.
Air pollution stopped
along with global warming and gum disease.

The Sox won it all of course,
beating the Yankees in three
and the Yankees in four
and the Yankees in five
(they lost one just to keep the Series alive).
Mia Hamm hit a grand slam
to put it away in the ninth.

Boston exploded with joy.
Babe Ruth signed the game-winning ball
and nobody sold it on E-bay.

That's how it all started.
At least, that's what I recall

.


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Sports Briefs----

Cardinal steal win to even Series
http://www.stltoday.com/sports/baseball/professional/cardinal-beat/cardinals-steal-a-win-in-boston-to-tie-series/article_afb6560d-a798-5741-a30d-5a4331c67a60.html

 

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California Nuts Briefs---

BART permanently eliminates controversial 'simple approval' work practice
http://www.contracostatimes.com/news/ci_24381457/bart-permanently-eliminates-controversial-simple-approval-work-practice

Jerry Garcia's Stinson Beach Command
http://blog.sfgate.com/ontheblock/2013/10/23/just-want-to-rent-it-for-an-hour-or-two/#17199101=0


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“Gimme that Wine”

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


Trade Deal May Pressure Canadian Vintners
http://www.winesandvines.com/template.cfm?

Open Table: The Best Restaurants For Wine In The US
http://www.businessinsider.com/the-best-restaurants-for-wine-in-the-us-2013-10

Climate change boosts wine production in Vermont
http://www.cbsnews.com/8301-205_162-57608807/climate-change-boosts-wine-production-in-vermont/

Rack & Riddle expands to Healdsburg
http://www.pressdemocrat.com/article/20131024/business/131029758



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


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This Day in History

         

    1741-Georg Wilhelm Steller discovers the Kiska Island in the Aleutian Island chain of present day Alaska. http://memory.loc.gov/ammem/today/oct25.html
    1764-Abigail Smith married a young lawyer by the name of John Adams. Their union launched a vital 54-year partnership taking the couple from colonial Boston through the politics of revolution, to Paris and London and the world of international diplomacy, and finally to Washington, D.C., where they became the first presidential couple to occupy the White House . A talented commentator and chronicler of events with a broad knowledge of history, Abigail Adams left an important account of many of the events of the nation's founding in her letters. She and her husband corresponded regularly; first when he attended the Continental Congress and Constitutional Convention inPhiladelphia between 1774 and 1783, and again from 1789 to 1800, when she traveled between thefamily home in Quincy, Massachusetts, and Philadelphia, where John Adams was serving as the nation's first vice president before becoming its second president in 1797. ( lower half of:http://memory.loc.gov/ammem/today/oct25.html )
    1848- the first railroad to run west out of Chicago was the Galena and Chicago Union Railroad, a constituent company of the Chicago and North Western Railway. Its first train was hauled by “The Pioneer,” a 10-ton wood-burning locomotive, which left Chicago this day for Oak Park, five miles away. The North Western rails reached the Missouri River at Council Bluffs, IA, in 1867.
    1864-Confederate President Jefferson Davis meets with General John Bell Hood at Hood's Palmetto, Georgia, headquarters to discuss the recent misfortunes of the Army of Tennessee. Since Hood had assumed command of the army in July, he had launched an unsuccessful series of attacks on Union General William T. Sherman's forces, endured a month-long siege in Atlanta, and was finally forced to abandon the city. Now, Davis journeyed to Georgia to shore up the sagging morale of his leader and troops. The most pressing problem was dissent within the Confederate command. Leading generals began feuding and pointing fingers to assign blame for the disastrous Atlanta campaign. Hood blamed General William Hardee, commander of one of Hood's three corps, for the loss of Atlanta, and Hardee demanded removal from Hood's authority. After conferring with Hood, Davis reassigned Hardee to the Department of South Carolina, Georgia, and Florida. Even though Hardee was the most able corps commander, Davis personally selected Hood to command the Army of Tennessee in July, and refused to admit his mistake. Unfortunately for the Confederates, Hood invaded Tennessee in the late fall, and by Christmas he saw his once-grand army virtually destroyed. On his return trip to Richmond, Davis gave a speech at Columbia, South Carolina, in which he gushed about Hood's prospects. In doing so, he let slip important information, saying that Hood's eye was set "upon a point far beyond that where he was assailed by the enemy." Sherman read the quote in a newspaper a few days later and guessed, correctly, that Hood intended to move back into Tennessee to cut Sherman's supply lines. Sherman planned his fall strategy accordingly, sending part of his army to deal with Hood while he took the rest across Georgia.
    1914 -- Poet John Berryman born McAlester, Oklahoma.
http://www.poets.org/poets/poets.cfm?45442B7C000C00
    1918-Bassist Chubby Jackson born, New York City. Also wrote many tunes, including the famous “Northwest Passage” for Woody Herman
    1921 - A hurricane with 100 mph winds hit Tampa, FL, causing several million dollars damage.
    1923-The first meeting of the Senate subcommittee to investigate the Teapot Dome oil leases was held, with Sen. Thomas UJ. Walsh, Democrat of Montana, as chairman. Walsh had used the 18 months since his appointment as chairman to study the case, and during the time public interest in it had died down. It was quickly reawakened by the hearings.
    1926- Reedman Jimmy Heath born, Philly.
    1929-What became known in history as the “Tea Pot Dome” Scandal, this day Albert Bacon Fall, secretary of the interior in President Warren Harding's, cabinet, was found guilty by Justice William Hitz of the District of Columbia Supreme Court for accepting a bribe of $100,000 from Edward Doheny of the Pan-American Petroleum and Transport Company for granting valuable oil leases in the Elk Hills Naval Oil Reserves in California. He was sentenced to one year in prison and was fined $100,000. Earlier, Harding, in a move subsequently deemed illegal by the Supreme Court, transferred responsibility for naval oil reserve lands to the Department of the Interior. The Secretary of the Interior, Albert B. Fall, went on to exploit those rights for his own gain, in 1922 secretly granting exclusive rights to the Teapot Dome reserve in Wyoming to the Mammoth Oil Company in exchange for cash and no interest "loans." He granted rights to the Elk Hills and Buena Vista Hills reserves in California to the Pan American Petroleum Company in 1921-22 for similar compensation.
    1930-Birthday of Hanna Holborn Gray, as president of the University of Chicago (1978) she became the first woman to head a major coeducational university in the U.S. She had been acting president of Yale University but took the Chicago post while the selection for Yale president was underway. Rumor had it that SHE because she was a SHE was not going to be named president. Yale officials deny it and have tried to claim a woman president without actually having had one by counting Gay's tenure as acting president as a regular president.
http://www.medaloffreedom.com/HannaHolbornGray.htm
http://www.teachtime.com/en/wikipedia/h/ha/hanna_holborn_gray.html
    1939 - A west coast hurricane moved onshore south of Los Angeles bringing unprecedented rains along the southern coast of California. Nearly five and a half inches of rain drenched Los Angeles during a 24 hour period. The hurricane caused two million dollars damage, mostly to structures along the coast and to crops, and claimed 45 lives at sea. "El Cordonazo" produced 5.66 inches of rain at Los Angeles and 11.6 inches of rain at Mount Wilson, both records for the month of September.
    1940- the first US Army general who was African-American was Benjamin Oliver Davis, commanding officer of Harlem's 369 th Coast Artillery ( National Guard), was appointed to command a brigade in the 2 nd Cavalry Division at Fort Riley, KS, with the ran of brigadier general.
    1942- Singer Helen Reddy Birthday http://www.helenreddy.com/
    1942-BASILONE, JOHN Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps. Born: 4 November 1916, Buffalo, N.Y. Accredited to: New Jersey. Other Navy award: Navy Cross. Citation: For extraordinary heroism and conspicuous gallantry in action against enemy Japanese forces, above and beyond the call of duty, while serving with the 1st Battalion, 7th Marines, 1st Marine Division in the Lunga Area. Guadalcanal, Solomon Islands, on 24 and 25 October 1942. While the enemy was hammering at the Marines' defensive positions, Sgt. Basilone, in charge of 2 sections of heavy machineguns, fought valiantly to check the savage and determined assault. In a fierce frontal attack with the Japanese blasting his guns with grenades and mortar fire, one of Sgt. Basilone's sections, with its gun crews, was put out of action, leaving only 2 men able to carry on. Moving an extra gun into position, he placed it in action, then, under continual fire, repaired another and personally manned it, gallantly holding his line until replacements arrived. A little later, with ammunition critically low and the supply lines cut off, Sgt. Basilone, at great risk of his life and in the face of continued enemy attack, battled his way through hostile lines with urgently needed shells for his gunners, thereby contributing in large measure to the virtual annihilation of a Japanese regiment. His great personal valor and courageous initiative were in keeping with the highest traditions of the U.S. Naval Service.
    1944--CHOATE, CLYDE L. Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company C, 601st Tank Destroyer Battalion. Place and date: Near Bruyeres, France, 25 October 1944. Entered service at: Anna, 111. Born: 28 June 1920, West Frankfurt, 111. G.O. No.: 75, 5 September 1945. Citation: He commanded a tank destroyer near Bruyeres, France, on 25 October 1944. Our infantry occupied a position on a wooded hill when, at dusk, an enemy Mark IV tank and a company of infantry attacked, threatening to overrun the American position and capture a command post 400 yards to the rear. S/Sgt. Choate's tank destroyer, the only weapon available to oppose the German armor, was set afire by 2 hits. Ordering his men to abandon the destroyer, S/Sgt. Choate reached comparative safety. He returned to the burning destroyer to search for comrades possibly trapped in the vehicle risking instant death in an explosion which was imminent and braving enemy fire which ripped his jacket and tore the helmet from his head. Completing the search and seeing the tank and its supporting infantry overrunning our infantry in their shallow foxholes, he secured a bazooka and ran after the tank, dodging from tree to tree and passing through the enemy's loose skirmish line. He fired a rocket from a distance of 20 yards, immobilizing the tank but leaving it able to spray the area with cannon and machinegun fire. Running back to our infantry through vicious fire, he secured another rocket, and, advancing against a hail of machinegun and small-arms fire reached a position 10 yards from the tank. His second shot shattered the turret. With his pistol he killed 2 of the crew as they emerged from the tank; and then running to the crippled Mark IV while enemy infantry sniped at him, he dropped a grenade inside the tank and completed its destruction. With their armor gone, the enemy infantry became disorganized and was driven back. S/Sgt. Choate's great daring in assaulting an enemy tank single-handed, his determination to follow the vehicle after it had passed his position, and his skill and crushing thoroughness in the attack prevented the enemy from capturing a battalion command post and turned a probable defeat into a tactical success. 
    1944--EVANS, ERNEST EDWIN Medal of Honor
Rank and organization: Commander, U.S. Navy. Born: 13 August 1908, Pawnee, Okla. Accredited to: Oklahoma. Other Navy awards: Navy Cross, Bronze Star Medal. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty as commanding officer of the U.S.S. Johnston in action against major units of the enemy Japanese fleet during the battle off Samar on 25 October 1944. The first to lay a smokescreen and to open fire as an enemy task force, vastly superior in number, firepower and armor, rapidly approached. Comdr. Evans gallantly diverted the powerful blasts of hostile guns from the lightly armed and armored carriers under his protection, launching the first torpedo attack when the Johnston came under straddling Japanese shellfire. Undaunted by damage sustained under the terrific volume of fire, he unhesitatingly joined others of his group to provide fire support during subsequent torpedo attacks against the Japanese and, outshooting and outmaneuvering the enemy as he consistently interposed his vessel between the hostile fleet units and our carriers despite the crippling loss of engine power and communications with steering aft, shifted command to the fantail, shouted steering orders through an open hatch to men turning the rudder by hand and battled furiously until the Johnston, burning and shuddering from a mortal blow, lay dead in the water after 3 hours of fierce combat. Seriously wounded early in the engagement, Comdr. Evans, by his indomitable courage and brilliant professional skill, aided materially in turning back the enemy during a critical phase of the action. His valiant fighting spirit throughout this historic battle will venture as an inspiration to all who served with him. 
    1949---Top Hits 
You're Breaking My Heart - Vic Damone 
That Lucky Old Sun - Frankie Laine 
Someday - Vaughn Monroe 
Slipping Around - Margaret Whiting & Jimmy Wakely 
    1950 - U.N. forces approached to within 34 miles of the Yalu River, the Chinese Manchurian border, as the Chinese Communist Forces launched their First Phase Offensive around this date. UNC intelligence agencies remained ignorant of Chinese intentions and the extent of their commitment to intervening in the war. 
    1955-Birthday of Robin Eubansk, Philadelphia, PA
1955-The Tappan Stove Company, Mansfield, OH introduced at a press conference the first electronic range for consumers. A 220-volt electric current produced microwaves that cooked eggs in 22 seconds, bacon in 90 seconds, frozen broccoli in 4.5 minutes, and a five-pound roast in 30 minutes. The retail price of the range was$1,200. Earlier, in 1952, the first microwave for home use was introduced by Tappan, selling for $1,295. This was the first electric and microwave oven combined as everything for the domestic market was gas operated 
    1957---Top Hits 
Honeycomb - Jimmie Rodgers 
Jailhouse Rock - Elvis Presley 
Hula Love - Buddy Knox 
Wake Up Little Susie - The Everly Brothers.
    1959 - Mob assassins shoot Little Augie Carfano to death in New York City on Meyer Lansky's orders. Lansky, one of the few organized crime figures who managed to survive at the top for several decades, was estimated to have accumulated as much as $300,000,000 in ill-gotten gains by the 1970s. In June 1947, Lansky ordered the death of his old friend Bugsy Siegel in Beverly Hills, California. Siegel, who had been sent to the West Coast in order to establish a new mob presence, came up with the idea of building The Flamingo, Las Vegas' first major casino. Although built with mob money, Siegel refused to pay back the loan. When Lansky ordered the murder of Augie Carfano 12 years later, Carfano had been intruding on Lansky's gambling interests in Florida and Cuba. His death eliminated all competition and opened up emerging markets for Lansky in South America. During the 1960s and 1970s, Lansky made a special effort to stay out of the public eye and was fairly successful. He died in 1983.
    1960-- A 17-year-old art student named Keith Richards runs into his old schoolmate, an economics student named Mick Jagger, at a train station in London. Richards notices the R&B albums under Jagger's arm, and before long the two form their first group -- Little Boy Blue and the Blue Boys. 
    1960 -- Martin Luther King, Jr. jailed in Decatur, Georgia. Held over on old traffic ticket charges, denied bail and sentenced to four months hard labor
http://nobelprize.org/peace/laureates/1964/king-bio.html
1960-The Accutron, the world's first electronic watch, went on sale. The watch, produced by Bulova Watch Company in Jackson Heights, New York, used transistorized electronic circuits and a miniature power cell, instead of a spring and gears, to move the watch's hands.
    1962-- American author John Steinbeck awarded Nobel Prize in literature
http://www.educeth.ch/english/readinglist/steinbeckj/
http://www.steinbeck.org/MainFrame.html
http://almaz.com/nobel/literature/1962a.html
http://donswa.home.pipeline.com/writers.steinbeck.html
http://www.sjsu.edu/depts/steinbec/chron.html
    1962- Aerial photos of offensive missile bases in Cuba were displayed to the UN by Ambassador Adlai Stevenson. He demands USSR Ambassador Zorin to answer regarding Cuban missile bases saying "I am prepared to wait for my answer until hell freezes over" The next day the U.S. Navy boarded and searched a Soviet-chartered freighter en route to Havana.
    1963--- Peter, Paul and Mary's LP Peter, Paul and Mary hits #1 
    1964- in a game between the Minnesota Vikings and the San Francisco 4934s, Minnesota defensive end Jim Marshall picked up a fumble by 49er Quarterback Billy Kilmer and ran 66 years into the wrong end zone. His gaffe resulted in a safety, 2 points for San Francisco, but the Vikings still prevailed, 27-22.
    1964-The Rolling Stones make their first appearance on "The Ed Sullivan Show"
    1964-- The Rolling Stones make their US television debut when they appear on CBS's Ed Sullivan Show. After screaming fans practically tear the studio seats apart, Sullivan declares to reporters: "I promise you they'll never be back on our show. It took me 17 years to build this up; I'm not going to have it destroyed in a matter of weeks. We won't book any more rock 'n' roll groups. Frankly, I didn't see the group until the day before the broadcast. I was shocked when I saw them." The group returns to the program five times. 
    1965---Top Hits 
Yesterday - The Beatles 
A Lover's Concerto - The Toys 
Get Off of My Cloud - The Rolling Stones 
Hello Vietnam - Johnny Wright
    1970 - George Blanda replaced Daryle Lamonica, the Oakland Raiders injured quarterback. Blanda tossed three touchdown passes (19, 43 and 44 yards), taking the Raiders to an easy victory over the Pittsburgh Steelers, 31-14.
    1970-Led Zeppelin's third album, "Led Zeppelin III" reached the top of the US album chart. Their first L.P. had hit number 10 and their second had gone to number 7. 
    1971-"The Allman Brothers Band Live at the Fillmore East" goes gold just four days before leader Duane Allman loses his life in a motorcycle accident.
    1972-The first women to became FBI agents completed training at Quantico, VA. the new agents, Susan Lynn Roley and Joanne E. Pierce, graduated from the 14-week course with a group of 45 men.
    1973---Top Hits 
Angie - The Rolling Stones 
Midnight Train to Georgia - Gladys Knight & The Pips 
Keep on Truckin' - Eddie Kendricks 
Ridin' My Thumb to Mexico - Johnny Rodriguez
    1980 - Barbra Streisand's "Woman in Love", from the number one album, "Guilty", was the number one song in the U.S. Both the album and the single were #1 for three weeks.
    1981-- In Game 5, Pedro Guerrero and Steve Yeager's back-to-back solo home runs give the Dodgers a 3-2 victory which they won in the next game, making them world champions, beating the New York Yankees.
1981---Top Hits 
Arthur's Theme (Best That You Can Do) - Christopher Cross 
Start Me Up - The Rolling Stones 
Step by Step - Eddie Rabbitt 
Never Been So Loved (In All My Life) - Charley Pride
    1982- “Newhart” premiered on television.. Bob Newhart starred in this sitcom as Dick Loudon, an author of “how-to' books who moved with his wife, Joanna (Mary Frann), to Vermont to take over the Stratford Inn. Regulars included Tom Poston as George Utley, caretaker of the inn, Steven Kampmann as Kirk Devane, the owner of the Minute Man Café, Jennifer Holmes as the maid, Leslie Vanderkellen and Julia Duffy as “princess” Stephanie Vanderkellen, who, through bad luck, had to take on the maid's job. Changes in the third season intro­duced the characters of Michael Harris (Peter Scolari), producer of Dick's talk show and Stephanie's squeeze, and the new own­ers of the cafe, Larry (William Sanderson) and his silent broth­ers, both named Darryl (Tony Papenfuss and John Volstad). The last telecast was Sept 8, 1990.
    1983- An invasion of Grenada, an island nation in the Caribbean, was launched by U.S. forces a week after a bloody coup by pro-Cuban Marists. The guerillas murdered Grenada's top leaders. by Nov 2 the Department of Defense reported the end of the hostilities. U.S. casualties were listed as 18 dead, 115 wounded. The action was taken to restore order and protect the 11000 US citizens, mostly students, on the island.
    1984 - John Cougar Mellencamp reached the two-million-dollar sales mark with his album, "Uh-Huh". Also, country group Alabama went to the three-million-dollar mark with two albums this day: "Feels So Right" and "Mountain Music". .
    1986-The New York Mets won Game 6 of the World Series, 6-5, in 10 innings, over the Boston Red Sox. The Mets made a dramatic comeback in the last inning, scoring three runs after two were out. Twice down to their last strike, they bunched three singles, a wild pitch and a ground ball by Mookie Wilson that went through the legs of first baseman Bill Buckner to eke out the victory. This event was selected as one of baseball's 30 most memorable moments.
    1986 - New Jersey-based rock band Bon Jovi rose to number one in the U.S. with their "Slippery When Wet" album. It was the number one album for eight -- count 'em -- eight weeks. Track listing: "Let It Rock", "You Give Love a Bad Name", "Livin' on a Prayer", "Social Disease", "Wanted Dead or Alive", "Raise Your Hands", "Without Love", "I'd Die for You", "Never Say Goodbye", "Wild in the Streets".
    1987 - The World Series began in a dome for the first time and the team with the best record at home happened to play in that dome. The St. Louis Cardinals were pounded in the first game, but fought back and forced the series to seven games before the Minnesota Twins could claim the championship -- their first -- on this day.. The franchise's last championship came in 1924 as the Washington Senators.
http://www.sportingnews.com/archives/worldseries/1987.html
    1987 - Hurricane Emily crossed the island of Bermuda during the early morning. Emily, moving northeast at 45 mph, produced wind gusts to 115 mph at Kindley Field. The thirty-five million dollars damage inflicted by Emily made it the worst hurricane to strike Bermuda since 1948. Parts of Michigan and Wisconsin experienced their first freeze of the autumn. Snow and sleet were reported in the Sheffield and Sutton areas of northeastern Vermont at midday.
    1989---Top Hits 
Miss You Much - Janet Jackson 
Love Song - The Cure 
Sowing the Seeds of Love - Tears For Fears 
Living Proof - Ricky Van Shelton
1989 - Twenty-three cities in the south central U.S. reported record low temperatures for the date, including Topeka KS with a reading of 33 degrees, and Binghamton NY with a low of 25 degrees. Showers and thunderstorms in the southeastern U.S. drenched Atlanta GA with 4.87 inches of rain, their sixth highest total of record for any given day.
    1993- The Southern California fire season began viciously when fires swept from the celebrity-studded beachfront homes of Malibu to the Mexican border. Blown out of the desert by the fierce Santa Anna winds, the fires destroyed suburban enclaves south of LA at Laguna Beach and northeast of LA at Altadena. As winds died down, firefighters appeared to gain con­trol as the flames reached the Santa Monica Mountains, but the winds roared again, spreading the fire into Malibu—often jump­ing the Pacific Coast Highway to destroy the beachfront homes of the wealthy celebrities who lived there. Damage from the fires was estimated at more than $1 billion.
    1997-- Johnny Cash reaches over to pick up a dropped guitar pick at today's concert in Flint, MI and falls over on stage; apologizing, he reveals to the audience that he is in the early stages of Parkinson's Disease. The crowd, thinking Cash is joking, laughs at the comment. 
    1998 - For the first time, all of the top five songs of the week were new entries: 1) Cher, "Believe"; 2) George Michael, "Outside"; 3) U2, "Sweetest Thing"; 4) Culture Club, "I Just Wanna Be Loved"; 5) Alanis Morissette, "Thank U".

World Series This Date
1987 Minnesota Twins

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