Position Wanted – Operations
Work Remotely or Relocate for Right Opportunity

Each Week Leasing News is pleased, as a service to its readership, to offer completely free ads placed by candidates for jobs in the industry.  These ads also can be accessed directly on the website at:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Each ad is limited to (100) words and ads repeat for up to 6 months unless the candidate tells us to stop. Your submissions should be received here by the end of each week.

Operations

5 time Presidents Club Franchise Player with 20+ years in Logistics, Collections, Technology Pricing/Appraisal ( NAPA) Certified, Portfolio Appraisal Inventory receivable proficient, Management Control System Developer & Specialist. Proactive communications & Equipment Dealer Specialist for Healthcare/Printing/Office Equipment & Industrial portfolios. Specialist in ALL Inventory receivable channels. Daniel.Delpriora@gmail.com

 

 

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Top Stories:  October 23 - October 27
(Opened Most by Readers)

(1) Balboa Capital and Shopko Settle Their Much Litigated
  $1 Million Dollar Plus perhaps $300,000 Attorney Fee Case
By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Oct2017/10_25.htm#balboa

(2) 'Upbeat mood' from ELFA attendees
   Report from Shawn Halladay, The Alta Group
http://leasingnews.org/archives/Oct2017/10_23.htm#elfa

(3) ELFA Conference Wrap-Up
    By Shawn Halladay, The Alta Group
http://leasingnews.org/archives/Oct2017/10_27.htm#elfa

(4) New Hires/Promotions in the Leasing Business
   and Related Industries
http://leasingnews.org/archives/Oct2017/10_27.htm#hires

(5) Interim Rent: Proper Accounting Function for
   Short Term Advances --- Or Is It a Scam?
By Tom McCurnin, Leasing News Legal News Editor
http://leasingnews.org/archives/Oct2017/10_23.htm#interim

(6)  Upbeat Mood' Continues from ELFA Attendees
  Report from Shawn Halladay, The Alta Group
http://leasingnews.org/archives/Oct2017/10_25.htm#elfa

(7) 5 Reasons to hire a Baby Boomer
   By Jim Acee
http://leasingnews.org/archives/Oct2017/10_27.htm#five

(8) Colford announces sale of North Mill Capital
   retains & strengthens North Mill Equipment Finance
http://leasingnews.org/archives/Oct2017/10_25.htm#colford

(9) Is Competition Dying
 in the Canadian Equipment Finance Market?
By Hugh Swandel, Senior Manager, The Alta Group, Canada
http://leasingnews.org/archives/Oct2017/10_23.htm#is

(10) 714 Attendees at NACLB Conference
   By Joe Bonanno, Esq., CLFP
http://leasingnews.org/archives/Oct2017/10_25.htm#naclb

 

 

 

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Equipment Leasing Account Executive What sets CoreTech apart from other equipment leasing companies is our team members and impeccable reputation. Are you unhappy with the ethics of your company and the promises made to you? Come to Newport Beach and join us. To learn more, please click here www.coretechleasing.com CoreTech specializes in medium to large size companies and firms Over 100 law firms trust CoreTech for their leasing needs, why wouldn't you?

 

Four Types of Interim Rent
By Christopher Menkin

       Construction Interim
Funds advanced to the manufacturer of the equipment during construction of the equipment.

         Delivery Interim
Partial payment to the manufacturer upon delivery of the equipment prior to the Lessee's acceptance of the equipment.

         Multiple Delivery Interim
Daily rent on delivery of accepted equipment prior to the balance of the equipment being accepted by the Lessee

       Due Date Interim
Additional rent charged to change the due date on the Lease from the
commencement date to a more acceptable date during the month.

   Explanation:
The first three are usually a part of a “Master Lease,” which is usually a document that provides a line of credit allowing a Lessee to add equipment under the same basic terms and conditions without negotiating a new Lease contract. Often it is one contract in sections.

The rent is most common “interest only” and often a separate document spells this out from the “Master Lease.”

Partial payments are normally part of the “Master Lease” and generally are “interest only,” often spelled out in a separate document not part of the lease contract itself.  In smaller leases, the payment is derived from a lease factor (the monthly payment as a multiplier) of the master lease payment.  It also includes the principal, which is kept by the lessor as an extra profit as it is not deducted from the monthly payment or actual total cost of the equipment.  The difference in the payment from the interest is then “extra profit.”

The Due Date Interim includes “extra profit” for the lessor as the actual lease is billed in advance to the lessee but converted to the
bank or line of credit in arrears.  A T-Value program can compute the extra profit in this arrangement.

Some offer a first or 15th of the month payment due date and do not charge interim rent or actually start the payment on a specific day the vendor is paid. Then in an ACH billing system where a specific day for the payment is not necessary for bookkeeping or collection purposes.

What is known as a 90 day interim payment is in reality a scam, as it is not a choice of a day in the month for payments to be due, but an means of extra profit since the interim rent is not part of the monthly payment stream.

 

 

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Highlights from Marlin Business Services Q3 2017
Earnings Call Transcript

Jeff Hilzinger, President & CEO
"...earnings were impacted due to hurricane provisions and weaker portfolio performance, particularly within our transportation channel. While there was a modest increase in net charge-offs our allowance for credit losses increased significantly as it is very sensitive to recent delinquency trends."

"We announced the departure of our former Chief Operating Officer, Ed Siciliano, who stepped down earlier this month to pursue personal interests."

"In transportation, during the quarter we made the conscious decision to significantly reduce our volume and pivoted a new strategy that is focused on financing transportation equipment used by small businesses as opposed to financing equipment used primarily by transportation companies. This more vocational approach to the transportation space is much more consistent with our direct strategy, where we have better insight into our customers' credit histories and should drive much better risk adjusted returns through the cycle."

Lou Maslowe, SVP and Chief Risk Officer

"The quarter-over-quarter increase in Equipment Finance 31 day's delinquency was observed across our business where the year-over-year increase is largely attributed to updates to collection strategy, portfolio sales and higher delinquency in the transportation channel. The increase in the 60 plus day delinquency quarter-over-quarter was driven by significant increase in the transportation channel and to a lesser extent other channels such as office equipment and national account."

"The allowance for credit loss is increased by $1.9 million in the quarter to $14.5 million, a 15.5% quarter-over-quarter increase. This compares to an $872,000 increase from Q1 to Q2. The increase is due to the hurricane provision of $500,000, approximately $300,000 due to growth in the portfolio and $1.1 million due to higher delinquency and charge-offs."

"While the increasing delinquency and charge-offs represents at least in part a return to more historical norms following the period of extraordinary portfolio performance, we will continue to make adjustments to our credit, collection and operational processes in order to optimize portfolio performance."

Jeff Hilzinger, President & CEO

"The problem with the transportation strategy as it was originally conceptualized it was essentially a wholesale originated strategy focused on financing Class 7 and Class 8 trucks. They are used almost exclusively by transportation companies. The good news about wholesale is that it allows you to grow very quickly because you are basically leveraging equipment dealers in a wholesale way. The bad news is that the pricing is very low and Class 7 and Class 8 especially with small fleets and owned operators is a very risky segment. So we over the course of the last six months or so we've been proactively shifting it from -- trying to shift it from owner operators to small fleets."

"... transportation volume in the third quarter was 40% less than it was in the second quarter."

Lou Maslowe, SVP Chief Risk Officer

"As far as charge-offs go for next year, as we've commented that we expect them to level off in the ballpark of where we are really, in the current environment we are comfortable, as this current level it was up a bit as a result of the transportation group as we mentioned and we expect that to continue to have an impact on our charge-offs really for most of 2018."

Jeff Hilzinger, President and CEO

"In Q3 we did have some hurricanes Irma and Harvey expense related to insurance -- projected insurance claim. And that was a little over $400,000. We had some additional recruiting expense related to what we talked about sort of finishing our investment in SLP that was a couple of hundred thousand dollars. You had some bonus commissions for paid to HK for their over achievement of their volume targets in the year in Q3. Now and so you sort of kind of take those out as a little bit of extra expense that goes the other way in Q4 but the big item in Q4 will be with Mr. Siciliano's exit there some onetime expense related to that offset by some recapture, that in net-net is probably about $500,000 pretax that we will have to pay next quarter.

"And going into the fourth quarter we continue to really experience record application levels and we think that October as an example should be close to a record month for the business. So there is a lot of momentum which I think we really need to highlight here. There is a lot of momentum beyond franchise and transportation that I think bodes well for both the portfolio and continues growth in originations volume next year and next year's volume is occurring with the channel mix that I think is a lot more attractive. And that ultimately will build a lot more attractive portfolio over time."

Announces Thrust into Commercial Truck and Specialty Vehicles
http://leasingnews.org/archives/Nov2015/11_04.htm#marlin

 Q4 2017 Results - Earnings Call Transcript (15 pages)
https://seekingalpha.com/article/4117620-marlin-business-services-mrln-ceo-jeff-hilzinger-q3-2017-results-earnings-call-transcript

 

Credit Staffing: Who's Hiring? Who's Firing?
Credit Today Survey

One of the many items explored in Credit Today's just-released 2017 Staff Benchmarking Survey was the extent to which credit departments are expanding, contracting, or stable.

The survey asked respondents whether they expected to hire, cut back, or keep staff sizes stable this year. Overall, the picture looks good: roughly four times as many credit departments are expanding compared to those declining.

20.3 percent of credit departments expect to hire additional staff this year while 5.8 percent expect to cut back via layoffs or other methods. The balance - 73.9 percen -- expect no changes.

Most likely to hire new credit staff this year? Construction, wholesalers, and media companies.

Least likely to hire? Energy companies.

Here's the breakdown:

When we drill down a bit and examine the data by company size, here's what it looks like:

Interestingly, larger companies - based on portfolio size - are simultaneously much more likely to be adding staff this year AND are also planning the most staff cuts.

So, despite their size, it's a dynamic group of companies, with much greater staffing changes - in both directions - than the rest of the credit department universe!

The Editors at Credit Today 
540-343-7500
Editor@CreditToday.net  

PS. If you're hiring, use our job board - www.CreditJobsToday.com - to find the very best candidates in the profession! 

 

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IRS Requires Banks to Collect Tax Identification
Numbers from Non-Resident Aliens

By Tom McCurnin
Leasing News Legal Editor

Revised Guidelines Related to Obtaining and Reporting Taxpayer Identification Numbers. Notice 2017-46.  

For the bankers that read Leasing News, this press release may be of some interest. The Internal Revenue Service has promulgated new rules that require banks and other financial institutions to collect Tax Identification Numbers (TINs) and date of birth from non-resident aliens. Alternatively, the alien will be subject to a 30% withholding requirement. Banks will have to a revise their Form W-8 with the foreign TIN and DOB. At year end, deposit income is reportable by the bank on Form 1042-S. This goes into effect in two months: January, 2018. 

The new rule has some exceptions:

• In Lieu of a TIN, a Reasonable Explanation Why It Is Not Available. The guidelines don’t elaborate on this, but presumably it’s something greater than the dog ate my TIN. There is no sanction for failing to rely upon an explanation, whether reasonable for not. Essentially, the banks and escrows can do whatever they want to do.

• No TIN Needed for Countries Which Have No TINs. The IRS identified three countries which presently do not use a numbering system for tax identification: Bermuda, British Virgin Islands, and Cayman Islands. Is it a coincidence that these countries are the most famous tax dodger havens? 

The bottom line to this new rule is the IRS is clamping down on non-resident aliens and deposit income. This probably includes escrows where a non-resident alien is receiving disbursements as well. 

IRS Tax Notice  (20 pages)
http://leasingnews.org/PDF/IRSTaxNotice102017.pdf

Tom McCurnin is a partner at Barton, Klugman & Oetting in Los Angeles, California.

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

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

 

 

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$63 Trillion of World Debt in One Visualization

(click image to enlarge)

Top Five "leaders" in each category 

Together, just these five countries together hold 66% of the world's debt in nominal terms - good for a total of $41.6 billion.

 Source: www.visualcapitalist.com

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

PayNet Provides Expert Testimony to U.S. Congress
on The State of Fintech

WASHINGTON----PayNet, Inc., the nation’s provider of credit assessments on privately held commercial lending businesses, addressed The Congress of the United States, U.S. House of Representatives, Committee on Small Business to testify on online lending’s role in improving small business capital access.

PayNet President William Phelan was asked by the House Subcommittee on Economic Growth, Tax and Capital Access to testify as an expert witness. The Subcommittee remains interested in the role FinTech is playing to fill the credit gap. Mr. Phelan provided an update on borrower’s use of online loans and delivered the results of a study showing approximately 80% of businesses that use online loans showed improved financial health.

“Fintech lenders are part of the emerging small business credit market providing new sources of capital,” states William Phelan, president of PayNet, Inc. “PayNet’s research shows that 80% of businesses that borrowed from FinTech have climbed the credit ladder and actually seen their credit and financial health improve.”

This hearing is expected to set the stage for continued Committee discussions on the most pertinent obstacles that are impeding private companies’ ability to readily access working capital at a reasonable cost.

“I applaud the efforts of the House Committee to better understand small business needs regarding access to capital, how online lending has grown over the past few years and the critical benefits FinTech provides to supply credit to small businesses,” Phelan added.

Formal testimony Video  (48:38)
https://youtu.be/WNzMR4dw5ZM

PayNet, Inc. is the leading provider of credit ratings on small businesses enabling lenders to manage credit risk, grow earning assets and operate credit at lower cost. PayNet maintains the largest proprietary database of small business loans, leases and lines of credit encompassing over 23 million contracts worth over $1.5 Trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time marketing intelligence and predictive information that subscribing lenders use to make informed small business financial decisions and improve their business strategy. For more information visit www.paynet.com

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

Labrador Retriever and Chow Chow
Houston, Texas Adopt-a-Dog

Charm

ID #A1489173
Female
Six Years Old
I have been at the shelter since June 06, 2017

"Charm is currently in Foster Care! Please email BARCfoster@HoustonTX.gov for more information!

BARC Animal Shelter & Adoption
3300 Carr St, Houston, TX 77026

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

 

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Presenting Plaque to Eight
New Certified Leasing and Finance Professionals

Reid Raykovich, CLFP, Exec. Director Certified Leasing and Finance Foundation, along with Mary Jo McCormick, CLFP, Lead Account Representative, Northland Capital

"One of the best parts of my job is presenting plaques to our newest CLFPs," Ms. Raykovich, CLFP, said.  An 8-hour test is no joke and they deserve the recognition. Here are some photos of the NEFA Fall Funding Symposium and the 8 individuals that I was honored to present plaques to: Mary Jo McCormick  CLFP; Telford Lindsay, CLFP; Michele Hiscock, CLFP; Katherine Adams, CLFP; Ellyn Schueller, CLFP; Cassandra Smith, CLFP; Aaron Loum, CLFP and Greg Pabich, CLFP."

Eight Photographs  (click to make photos larger):
http://www.clfpfoundation.org/2017-NEFA-Fall-Funding-Symposium

 

 

News Briefs----

ECN Capital to Sell Canadian Commercial/Vendor Finance
 Assets Proceeds to support ECN Capital’s continued transition
http://ecncapitalcorp.com/wp-content/uploads/2017/10/2017-10-30-ECN-Capital-to-Sell-Canadian-Commercial-and-Vendor-Finance-Assets.pdf

America's biggest companies are investing more in themselves
 — and it's causing a huge shift in the stock market
http://www.businessinsider.com/stock-market-news-capex-spending-causing-huge-shift-2017-10

Used-Car Leasing Sets Dealership Group Apart
the 10-store Van Horn Group now leases used cars
http://wardsauto.com/f-i/used-car-leasing-sets-dealership-group-apart

2017 just set the all-time record for store closings
  more than 6,700 stores in the U.S
http://money.cnn.com/2017/10/25/news/economy/store-closings-2017/index.html?sr=twCNN102517economy0528PMStory

Cards are going to go away says Citigroup CEO Mike Corbat
the popular financial product is doomed to extinction
http://www.afr.com/markets/cards-are-going-to-go-away-says-citigroup-ceo-mike-corbat-20171026-gz8t2j

Financial pros flock to online FinTech courses
 Banks projected to lose between 2 to 6 million jobs
https://www.cnbc.com/2017/10/30/financial-pros-flock-to-online-fintech-courses.html

This start-up lets Chinese investors pour cash
    into US tech firms before they go public
https://www.cnbc.com/2017/10/30/marketx-lets-chinese-investors-pour-cash-into-pre-ipo-tech-firms.html

 

Equipment Leasing Account Executive What sets CoreTech apart from other equipment leasing companies is our team members and impeccable reputation. Are you unhappy with the ethics of your company and the promises made to you? Come to Newport Beach and join us. To learn more, please click here www.coretechleasing.com CoreTech specializes in medium to large size companies and firms Over 100 law firms trust CoreTech for their leasing needs, why wouldn't you?

 

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You May Have Missed---

Amazon is now the size of a small country
   Employees 541,900 people
http://www.businessinsider.com/amazons-workforce-grew-at-an-unprecedented-rate-in-2017-charts-2017-10

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Baseball Poem

Play at the Plate

From the book
"That Sweet Diamond"

by Paul B. Janeczko, Carole Katchen (Illustrator)

Some 
watch the ball 
short hop the wall and 
the right fielder-who 
can't pick it up fast enough - 
finally snatch it 
sling it 
to the impatient cut-off man, 
who throws home 
almost before he turns.

Some 
watch the runner 
barely 
toe the inside corner of third, 
eyes on 
the coach's windmill arm 
signaling haste.

All 
watch the meeting place: 
the catcher begging for the ball 
so he can sweep the tag 
at the runner beginning 
his slide 
before the umpire, 
holding his mask 
behind his back 
as casually as a satin heart 
of valentine candy, 
signals the meeting over, 
the runner safe.

 

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Jimmy Garoppolo Trade: Why Now, and Why the Niners?
https://www.si.com/nfl/2017/10/30/jimmy-garoppolo-trade-patriots-49ers

All the Jimmy Garoppolo trade dominoes, and who's affected
http://www.espn.com/nfl/story/_/id/21231197/all-jimmy-garoppolo-trade-dominoes-new-england-patriots-san-francisco-49ers-affected-2017-deadline

Jerry Jones among owners trying to halt Roger Goodell's extension
http://www.espn.com/nfl/story/_/id/21206250/dallas-cowboys-jerry-jones-owners-trying-halt-roger-goodell-proposed-contract-extension

Richard Sherman: Deshaun Watson best QB to have played Seahawks
http://www.espn.com/nfl/story/_/id/21227042/richard-sherman-seattle-seahawks-deshaun-watson-houston-texans-soon-top-five-qb-nfl

 

 

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California Nuts Briefs---

California just got 125-mph trains.
   Here’s why they still can’t outrace your car
http://www.sacbee.com/news/local/transportation/article181385651.html#emlnl=Breaking_Newsletter

Hewlett-Packard historical archives destroyed in Santa Rosa fires
http://www.pressdemocrat.com/business/7559762-181/hewlett-packard-historical-archives-destroyed-in?artslide=0

California’s ‘sanctuary state’ law could be blocked by voters
http://www.sacbee.com/article181783821.html

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“Gimme that Wine”

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

13 Restaurants Where Wine Means Business
https://restaurants.winespectator.com/article/55629/13-restaurants-where-wine-means-business

How Diageo Makes Most of Its Money
https://www.fool.com/investing/2017/10/25/how-diageo-makes-most-of-its-money.aspx

Michigan Wine Industry Contributes $5.4 Billion in Economic Impact
https://www.winebusiness.com/news/?go=getArticle&dataid=191481

Drinkers don’t care about Anheuser-Busch anymore
http://nypost.com/2017/10/26/drinkers-dont-care-about-anheuser-busch-anymore/

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

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

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

This Day in History

     1517 - German Augustinian monk Martin Luther, 31, nailed to the door of the castle church in Wittenberg a list of 95 theological points he wished to debate, one of the major events in the founding of the new world that was to become the United Colonies (later changed to the United States.) The weakening of the Vatican-controlled religion touched off the Protestant Reformation that lead to seeking of religious freedom in all countries, but none as profound as the “New World.”
    1740 – Birthday of William Paca (d. 1799), Abingdon, Maryland Province.  He was signer of the Declaration of Independence as a delegate of Maryland of which he later became Governor. 
    1753 - George Washington was sent by Governor Robert Dinwiddie of Virginia to demand French withdrawal from the Ohio territory. Dinwiddie had been impressed by Washington's achievement as surveyor and fieldsman, and picked him for the commission, although he was only 21 years old. As adjutant general of the Northern Division, Washington set out from Williamsburg, VA. With Christopher Gist as his guide, he made observations of French fortifications and estimations about needed English fortifications. During the expedition, he kept a journal, which Dinwiddie later obtained and had printed. It indicated French intentions for the territory and attributed to a French office the indiscreet admission that “...it was their absolute Design to take possession of the Ohio, and by G---they would do it.”
    1832 - American Episcopal scholar George Washington Doane, 33, was consecrated as second Bishop of the Diocese of NJ. Doane is better remembered today as author of the hymn, "Softly Now the Light of Day."
    1860 - Birthday of Juliette Gordon Low (d. 1927), founder of the Girl Scouts of the USA, Savannah, GA.
    1860 – Birthday of Andrew Volstead (d. 1947), Congressman from Minnesota (1903-23) who introduced National Prohibition Act, aka the Volstead Act. 
    1861 - Citing failing health, General Winfield Scott, commander of the Union forces, retires from service. The hero of the Mexican War recognized early in the Civil War that his health and advancing years were a liability in the daunting task of directing the Federal war effort. Scott was born in Virginia in 1786. He graduated from William and Mary College and joined the military in 1808, where he had become the youngest general in the army by the end of the War of 1812. During the crisis of 1861, Scott remained at his post and refused to join his native state in secession. President Lincoln asked Scott to devise a comprehensive plan to defeat the Confederacy. Scott's strategy called for the blockading of ports to isolate the South economically, then an offensive down the Mississippi River. In the optimistic early days of the war, this strategy seemed hopelessly sluggish.  In fact, critics dubbed it the "Anaconda Plan" after the giant Amazonian snake that slowly strangles its prey. Despite initial criticism, it was the basic strategy that eventually won the war.
    1864 - Nevada became the 36th state.  Anxious to have support of the Republican-dominated Nevada Territory for President Abraham Lincoln's reelection, the U.S. Congress quickly admits Nevada to the Union. In 1864, Nevada had only 40,000 inhabitants, considerably short of the 60,000 normally required for statehood. But the 1859 discovery of the incredibly large and rich silver deposits at Virginia City had rapidly made the region one of the most important and wealthy in the West. The inexpert miners who initially developed the placer gold deposits at Virginia City had complained for some time about the blue-gray gunk that kept clogging up their gold sluices. Eventually several of the more experienced miners realized that the gunk the gold miners had been tossing aside was actually rich silver ore, and soon after, they discovered the massive underground silver deposit called the Comstock Lode. The decisive factor in easing the path to Nevada's statehood was President Lincoln's proposed 13th Amendment banning slavery. Throughout his administration, Lincoln had appointed territorial officials in Nevada who were strong Republicans, and he knew he could count on the congressmen and citizens of a new state of Nevada to support him in the coming presidential election and to vote for his proposed amendment. Since time was so short, the Nevada constitutional delegation sent the longest telegram on record up to that time to Washington, D.C., containing the entire text of the proposed state constitution and costing the then astronomical sum of $3,416.77.  Their speedy actions paid off with quick congressional approval of statehood and the new state of Nevada did indeed provide strong support for Lincoln. On January 31, 1865, Congress approved the 13th Amendment to the U.S. Constitution banning slavery.
    1892 - Arthur Conan Doyle publishes "The Adventures of Sherlock Holmes." While not American history, this was my favorite book in junior high school, where I read the completed collection at least three times, as to me, it was the “Harry Potter” of the day.
    1893 - African-American football player William Henry Lewis named All-American. Harvard's football team featured the first black All-American, Lewis, who had been an undergraduate at Amherst College. Lewis had initially attended Virginia Normal (now Virginia State), but moved north in 1889. He was voted as Amherst's captain in 1890. Lewis went on to Harvard Law School and continued his football career. He played in the Crimson's 6-0 loss to Yale in 1892, but so impressed Walter Camp that he was named to Camp's All-America squad. The Crimson center rusher was a repeat All-America honoree in 1893. Lewis became assistant district attorney in Boston following graduation.
    1896 - Birthday of actress Ethel Waters (d. 1977) in Chester, PA. Married when she was 13, Ethel Waters began her singing career at the urging of friends. At age 17, she was singing at Baltimore's Lincoln Center, billing herself as Sweet Mama Stringbean. Her career took her to New York, where she divided her work between the stage, nightclubs and films. She made her Broadway debut in 1927 in the revue “Africana,” and her other stage credits included “Blackbirds,” “Rhapsody in Black,” “Thousands Cheer” and “Mamba's Daughters.” Her memorable stage roles in “Cabin in the Sky” and “A Member of the Wedding” (for which she won the Drama Critics' Award) were recreated for film.  Waters was the second African-American, after Hattie McDaniel, to be nominated for an Academy Award, for her role in “Pinky”. She is also the first African-American woman to be nominated for an Emmy, in 1962.  In 1950, Waters starred in the TV series, “Beulah,” but quit after complaining that the scripts' portrayal of blacks was "degrading." 
    1912 – Actress, singer, songwriter Dale Evans (d. 2001) was born Lucille Wood Smith, later changed to Frances Octavia Smith, in Uvalde, TX.  She took the name Dale Evans in the early 1930s to promote her singing career.  Evans married Roy Rogers in 1947, his second and her fourth and it lasted 51 years until his death in 1998.  Evans wrote the theme, “Happy Trails to You” for their TV show. 
    1913 – The Lincoln Highway, the first transcontinental highway for automobiles, is dedicated.  It ran coast-to-coast from Times Square in New York City to Lincoln Park in San Francisco, originally through 13 states: New York, New Jersey, Pennsylvania, Ohio, Indiana, Illinois, Iowa, Nebraska, Colorado, Wyoming, Utah, Nevada, and California.  There are a total of 14 states, 128 counties, and over 700 cities, towns and villages through which the highway passed at some time in its history.  The first officially recorded length of the entire Lincoln Highway in 1913 was 3,389 miles.  Most of the 1928 Lincoln Highway route became US 30, with portions becoming US 1 in the East and US 40, US 50 and US 93 in the West. Today, Interstate 80 (I-80) is the cross-country highway most closely aligned with the Lincoln Highway. In the West, particularly in Wyoming, Utah and California, sections of I-80 are paved directly over alignments of the Lincoln Highway. This is also the first national memorial to President Abraham Lincoln.
    1915 – Birthday of piano player Meade Lux Lewis (d. 1964), Louisville, KY.  Noted for his work in the boogie-woogie style, his best-known work, "Honky Tonk Train Blues," has been recorded by many artists.
http://us.imdb.com/Name?Lewis,+Meade+'Lux'
http://sunsite.kth.se/feastlib/mrf/yinyue/pw/LEWMEA.HTM
    1916 – Ken Keltner (d. 1991) was born in Milwaukee.  One of the Majors’ best third basemen in the 1940s, for the Cleveland Indians, he is remembered for his two outstanding plays in 1941 that helped to end the 56-game hitting streak of Joe DiMaggio.
    1922 - Saxophone player Illinois Jacquet, born Jean-Baptiste Illinois Jacquet (d. 2004), Broussard, LA.  Best remembered for his solo on "Flying Home," critically recognized as the first R&B saxophone solo. 
http://www.yalloppinhounds.com/jacquet.html
http://www.africanpubs.com/Apps/bios/0661JacquetIllinois.asp
http://www.rollingstone.com/artists/default.asp?oid=7428
    1922 - Birthday of saxophonist Ted Nash (d. 2011), Somerville, MA
http://www.jazzradio.org/tednash.htm
http://shopping.yahoo.com/shop?d=product&id=
1927006142&clink=dmmu.artist&a=b
    1925 - Record low October temperatures were set in northern New England. Van Buren, ME hit 1 degree, Garfield, VT dropped to 2, Pittsburg, NH to 4 degrees
    1926 – Because this is Halloween, we note the death of Harry Houdini of peritonitis. Days earlier, between performances at the Princess Theater in Montreal, Canada, as he relaxed in his dressing room, he was visited by a student athlete from Montreal's McGill University. The young man asked Houdini if it was true that he could actually withstand punches to the stomach. Houdini replied in the affirmative, but before he could prepare himself for the stunt by tightening his stomach muscles, the student punched the magician several times in his mid-section. Houdini performed that night and several more, then headed for Detroit where he did one show, then collapsed and was rushed to the hospital. At the time, it was assumed that his appendix had been ruptured by the blows from the student. Current medical knowledge leads experts to believe that Houdini already had appendicitis and only thought that the blows to his stomach were the cause of his pain. Magicians and mediums throughout the world still gather on this night, Halloween, to honor the Great Houdini
http://memory.loc.gov/ammem/today/oct31.html
    1927 - Hoagy Carmichael records a song he just wrong called “Stardust” (Gennett 6331).  It became an American standard and is one of the most recorded songs of the 20th century, with over 1,500 total recordings.  In 2004, Carmichael's original 1927 recording of the song was one of 50 recordings chosen by the Library of Congress to be added to the National Recording Registry. "Stardust" is considered by many the finest song ever written.
    1929 - A little boy explodes some firecrackers on La Salle Street in Chicago and rumors quickly spread that gangsters who have lost heavily on the stock market are shooting up the street. Squad cars of police arrive to find a very bewildered little kid.  "Despite the fact that there is a cherished legend in American folklore that pedestrians on Wall Street had to scurry out of the way of falling financiers, no such wave of suicides took place. Those (and there were countless) whose life savings had been wiped out were far too stunned and depressed to think of anything so violent as suicide."
— Robert Goldston, The Great Depression
    1930 - In a rare recording, William ‘Count' Basie sang with Bennie Moten's orchestra, "Somebody Stole My Gal.”
    1930 - Birthday of tenor sax player Ervin Booker (d. 1970), Denison, TX. 
http://www.channel1.com/users/obscure/bervin.html
http://freett.com/basiemusic/booker-ervin.html
http://www.cduniverse.com/sresult.asp?style=music&
HT_Search_Info=Ervin%2C+Booker&HT_Search=XARTIST
    1931 – Major League Baseball’s last legal spitballer, Burleigh Grimes, was released by the St. Louis Cardinals.  The spitball and all other pitches involving doctoring the ball, were banned before the 1920 season, though some "bona fide" spitball pitchers were allowed to continue throwing the pitch for the remainder of their careers. Many pitchers since have been accused of throwing spitballs illegally, and a few were either caught or admitted to doing so after retiring.
    1931 – Newsman Dan Rather was born in Wharton, TX.
    1936 – Little Joe’s birthday.  Actor Michael Landon was born Eugene Maurice Orowitz (d. 1991) in Queens.  He was an actor, writer, director, and producer.  He is best known for his roles as Little Joe Cartwright in “Bonanza” (1959–73), Charles Ingalls in “Little House on the Prairie” (1974–83), and Jonathan Smith in “Highway to Heaven” (1984–89). Landon appeared on the cover of “TV Guide” 22 times, second only to Lucille Ball.  
    1937 - Tom Paxton was born in Chicago, Illinois. Folk singer/songwriter. His songs have been recorded by hundreds of artists as diverse as Pete Seeger, Willie Nelson and Placido Domingo. “Ramblin' Boy,” “The Last Thing On My Mind,” “Bottle of Wine,” “Goin' to the Zoo” and “The Marvelous Toy” are just a few of his songs.
“Oh lay me down in Forest Lawn in a silver casket
put golden flowers over my head in a silver basket
While the drum & bugle corps
play taps while cannons roar
while sixteen liveried employees
Sell souvenirs from the funeral store...”
http://www.sky.net/~emily/jon/forestla.jon
http://www.wfma.net/paxton.htm
http://www.tompaxton.com/
    1938 – As the Great Depression enters its tenth year, in an effort to restore investor confidence, the NYSE unveils a fifteen-point program aimed at upgrading protection for the investing public.
    1939 - Birthday of drummer John Guerin (d. 2004), Hawaii
http://www.song.net/guerin/guerin.htm
http://www.united-mutations.com/g/john_guerin_random_notes.htm
http://www.drummerworld.com/drummers/John%20Guerin.html
    1941 - Although incomplete, the Federal Government declared the work over at Mount Rushmore National Memorial, after 14 years of work. First suggested by Jonah Robinson of the South Dakota State Historical Society, work began August 10, 1927. The memorial contains sculptures of the heads of Presidents George Washington, Thomas Jefferson, Abraham Lincoln and Theodore Roosevelt, sculpted into South Dakota’s Black Hills. The 60-foot-tall sculptures represent, respectively, the nation's founding, political philosophy, preservation, expansion and conservation. There were multiple dedications as each President’s likeness was completed. Sculptor Gutzon Borglum died in 1941 and his son, Lincoln, continued the project until funds ran out on this day. Since then, no additional carving has been done, nor is any further work (other than maintenance) on the memorial planned.  The entire project cost $989,992.32. Notable for a project of such size, none of some 440 workers died during the carving.
http://www.aqd.nps.gov/grd/parks/moru/index.htm
http://www.nps.gov/moru/
    1942 - The only pitcher in Major League history to hit a grand slam in a World Series game, Dave McNally (d. 2002), was born in Billings, MT. (Game 3, 1970, a 9–3 Orioles victory over the Cincinnati Reds).   He won more than 20 games for 4 consecutive seasons (1968 through 1971) and was one of four 20-game winners for the 1971 Orioles with Pat Dobson, Jim Palmer, and Mike Cuellar. He was the only pitcher other than Roger Clemens to win 12 decisions in a row 3 times, including 17 consecutive at one time. After winning the last 2 decisions of the 1968 season, he opened the 1969 season with a 15–0 record.  He is also known for his role in the historic 1975 Seitz decision which led to the downfall of Major League Baseball's reserve clause and ushered in the current era of free agency. McNally and Andy Messersmith were the only two players in 1975 playing on the one-year reserve clause in effect at the time. Neither had signed a contract at the time but both were held with their team under the rule. The two challenged the rule and won their free agency, forever changing the economics of Major League Baseball. 
    1943 - An F4U Corsair accomplishes the first successful radar-guided interception by a USN or USMC aircraft.
    1944 - Birthday of drummer Sherman Ferguson (d. 2006), Philadelphia, PA
http://www.jazzreview.com/cdreview.cfm?ID=3294
http://www.musthear.com/gallery/gallery%20five/pages/DrumClap.htm
http://shopping.yahoo.com/shop?d=product&id=1927059503
http://www.artistdirect.com/music/artist/card/0,,429902,00.html
    1945 - Booker T Washington, educator, inducted into the Hall of Fame for Great Americans
    1947 - Top Hits
“Near You” - The Francis Craig Orchestra (vocal: Bob Lamm)
“I Wish I Didn't Love You So” - Vaughn Monroe
“I Wonder Who's Kissing Her Now” - Perry Como
“Smoke! Smoke! Smoke! (That Cigarette)” - Tex Williams
    1950 - Earl Lloyd became the first black player in an NBA game when he took the floor for the Wash­ington Capitols in Rochester, NY. Lloyd was actually one of three blacks to become NBA players in the 1950 sea­son, the others being Nat “Sweetwater” Clifton, who was signed by the New York Knicks, and Chuck Cooper, who was drafted by the Boston Celtics (and debuted the night after Lloyd).
    1950 - Birthday of TV personality Jane Pauley, in Indianapolis. October 30 marked the anniversary of her first appearance as co-anchor on “The Today Show” in 1976.
http://www.msnbc.com/onair/bios/j_pauley.asp
http://www.emanila.com/benrazon/people/pauley.htm
http://talkshows.tqn.com/library/news/blnewsjanepauley.htm
    1951 – Football coach, currently at Alabama, Nick Saban, was born in Fairmont, WV.
    1952 - The first hydrogen bomb was detonated, designated as “Mike,” part of Operation Ivy. It was a tower shot with a burst of 20 feet at the Elugelab Atoll at the Eniwetok Proving Ground, Marshall Islands.
    1952 - When his original guitarist suffered a stroke just before a New Year's Eve gig, popular St. Louis boogie-woogie pianist Johnnie Johnson hired for his group, The Sir John's Trio, a 26-year old hairdresser named Chuck Berry.
    1955 - Top Hits
“Autumn Leaves” - Roger Williams
“Only You” - The Platters
“Sixteen Tons” - Tennessee Ernie Ford
“Love, Love, Love” - Webb Pierce
    1957 – According to Yogi Berra, the Yankees returned the fines levied from the Copacabana incident.  On May 16, 1957, six members of the world champion New York Yankees were involved in a post-midnight disturbance during a party at the Copacabana nightclub in Manhattan. The Yankees, who were at the club to celebrate Billy Martin's 29th birthday, included Mickey Mantle, Yogi Berra, Hank Bauer, Whitey Ford, Johnny Kucks and Martin. The disturbance stemmed from an argument between the players and members of a bowling club who also were celebrating at the club, who were heckling Sammy Davis, Jr., with racial epithets. Four weeks later, Billy Martin was traded to the Kansas City A's in an eight-player deal generally acknowledged to have stemmed from the brawl.
    1958 – The Flamingos recorded “I Only Have Eyes for You.”  Composed by Harry Warren with lyrics by Al Dubin, it was written in 1934 for the film “Dames” where it was introduced by Dick Powell and Ruby Keeler.  The version by the Flamingos features a prominent reverb effect, creating a dreamy ambience. This version peaked at #11 on the Billboard Hot 100 and #3 on the R&B charts. Perhaps most notably, in addition to having been covered by hundreds of artists since, the Flamingos’ version is a staple at rock and roll revivals.
    1961 - A federal judge ruled that Birmingham laws against integrated playing fields are illegal, eliminating the last barrier against integration in the minor league Southern Association. The circuit chose to disband rather than abide the ruling and was replaced in 1964 by the integrated Southern League.
    1963 - Top Hits
“Sugar Shack” - Jimmy Gilmer & The Fireballs
“Be My Baby” - The Ronettes
“Deep Purple” - Nino Tempo & April Stevens
“Love's Gonna Live Here” - Buck Owens
    1963 - An explosion at the Indiana State Fair Coliseum in Indianapolis kills 74 people and injures another 400 during an ice skating show. A faulty propane tank connection in a concession stand is blamed.
    1963 - The Beatles returned from a tour of Sweden to find 50,000 screaming fans waiting for them at London's Heathrow Airport. Waiting at the airport is American TV host Ed Sullivan. "Who are those guys?" he asked a bystander, who tells him they are "England's foremost singing group." Having never heard them, Sullivan nevertheless immediately contacted manager Brian Epstein to book the band for three appearances on his CBS show early in 1964.
    1964 - The Supremes "Baby Love" was the number one single (for four weeks), while Barbra Streisand's "People" was #1 on U.S. album charts (for five weeks).
    1965 - Fort Lauderdale was deluged with 13.81 inches over a two-day period, the second heavy rains in two weeks. More road and street damage occurred and some homes were flooded for the second time
    1966 - Bob McKendrick presented "Dance of Death" costume ball at California Hall. The Grateful Dead, Quicksilver Messenger Service and Mimi Fariñia entertained.
http://www.breadandroses.com/
http://www.richardandmimi.com/posters.html
    1966 - Ken Kesey's “Acid Test Graduation.”  The Acid Tests were a series of parties held by Kesey in the San Francisco Bay Area during the mid-1960s, centered entirely on the use of, and advocacy of, LSD, also known as "acid."  LSD was not made illegal until late in 1968.
http://www.intrepidtrips.com/
http://wild-bohemian.com/kesey.htm
    1968 - President Lyndon Johnson, trying to get his Vice President, Hubert Humphrey, elected to succeed him, orders an end to bombing of North Vietnam.  On November 5, Richard M. Nixon is elected President of the United Sates, defeating his Democratic opponent Humphrey in a close race. Spiro T. Agnew of Maryland, was elected Vice President. The electoral vote was Nixon, 302; Humphrey, 191; George C. Wallace, third-party candidate, 45. One Nixon elector later cast his vote for Wallace. The popular vote was Nixon, 31,785,480; Humphrey 31,275,166; Wallace, 9,906.473. There are those who say if Wallace had not run, Humphrey would have been elected President.
    1971 - Top Hits
“Maggie Mae/Reason to Believe” - Rod Stewart
“Gypsies, Tramps & Thieves” - Cher
“Theme from Shaft” - Isaac Hayes
“How Can I Unlove You” - Lynn Anderson
    1972 - Curtis Mayfield received a gold record for "Freddie's Dead" from the flick, "Superfly."
    1976 – Elvis made his last recording, a remake of the Jim Reeves hit “He’ll Have to Go,” in the Jungle Room of his Graceland home.
    1979 - Top Hits
“Rise” - Herb Alpert
“Pop Muzik” - M
“Dim All the Lights” - Donna Summer
“All the Gold in California” - Larry Gatlin & The Gatlin Brothers
    1984 - "Caribbean Queen" became a gold record for Billy Ocean. It was Ocean's second hit song and the only one of his 11 hits to become a million-seller. He would have two other #1 songs and a pair of #2 hits, but none as big as "Caribbean Queen (No More Love on the Run)." Billy's from Trinidad, you know. His real name: Leslie Sebastian Charles.
    1986 - For the first time, Universal Studios in Hollywood opened at night -- to give fans a scare. Halloween Horror Night included Dracula, the Mummy, King Kong, the Creature from the Black Lagoon, the Wolfman, and Rick Dees.
    1987 - Top Hits
“Bad” - Michael Jackson
“Causing a Commotion” - Madonna
“I Think We're Alone Now” - Tiffany
“Right from the Start” - Earl Thomas Conley
    1987 - Chris Antley became the first jockey to win nine races in a single day. He won four races in six tries at Aqueduct in the afternoon and five more in eight races at The Meadowlands at night.
    1987 - Running back Eric Dickerson signed a contract with the Indianapolis Colts to complete a complex three team NFL trade. The Colts got Dickerson from the Los Angeles Rams in exchange for one player and three draft choices. The Rams acquired an additional three draft picks and another player from the Buffalo Bills in exchange for the Colts' trading the right to linebacker Cornelius Bennett to the Bills. This started the tradition of making “deals” utilizing draft picks.
    1988 - Paul McCartney made musical history by becoming the first Western recording artist to release an album exclusively in the Soviet Union. Titled “CHOBA B CCCP” ("Back in the USSR"), it comprised the best tracks from his set of live one-take recordings taped the previous year.
    1991 - A severe winter storm dubbed the 'Great Halloween Mega Storm' struck the upper Midwest. Minnesota bore the brunt of the storm. Blizzard conditions occurred with wind gusts frequently to 40 to 50 mph. By the time the storm finally ended on November 2nd, Duluth received 37 inches of snow, Minneapolis 28 inches and International Falls 18 inches. For Duluth and Minneapolis, this set new all-time records for single storm totals. These two cities received nearly half their normal seasonal snows in this one storm. In Wisconsin, 35 inches of snow was reported at Superior and 30 inches at Iron River.
    1992 - Five American nuns in Liberia were shot to death near the capital Monrovia; the killings were blamed on rebels loyal to Charles Taylor.
    1993 - A cold wave set or tied 43 record lows. Corpus Christi, TX dropped to 28 degrees to set the October (and November) record. Brownsville dropped to a monthly record 35 degrees.
    1998 - Iraq announces it would no longer cooperate with UN weapons inspectors.
    1999 – Egypt Air Flight 990, en route to Cairo from New York, crashed off the coast of Nantucket Island, Massachusetts. All 217 people on board died. Some American investigators suspected a relief co-pilot deliberately put the plane into a suicide dive, causing the crash. It is the belief today that Osama Bin Laden got the idea to use airplanes as bombs from this event.
    2000 - Napster announced a deal with entertainment giant BMG to make its illegal file-sharing software into a paid subscription service.
    2001 - For the first time since Philadelphia A's Mule Haas hit a game-tying two-run homer in Game 5 of the 1929 World Series, a team comes from behind to tie a Fall Classic game in the ninth and goes on to win in extra innings. The Yankees’ Tino Martinez sends the game into extra innings with a two-out homer off Diamondbacks' closer Byung-Hyun Kim and Derek Jeter, dubbed Mr. November, wins it after the stroke of midnight with a full count, two-out round tripper that gave the Bronx Bombers a 3-2 victory and knotted the Series at two games apiece.
     2002 - A federal grand jury indicts former Enron CFO Andrew Fastow on 78 counts of wire fraud, money laundering, conspiracy, and obstruction of justice related to the collapse of his ex-employer.  At the time of its Chapter XI filing, Enron was the world’s seventh-largest company.  As many of us in EF/L are accountants or accounting-related, read “A Conspiracy of Fools” by Kurt Eichenhwald, the WSJ reporter on this story.  It is amazing in its description of the outrageous schemes of these perpetrators, including President Jeff Skilling and CEO Ken Lay, who in his ignorance, left the leadership void that allowed Fastow and Skilling to sink the company.  The acquiescence of Arthur Andresen is epic.
    2005 - President George W. Bush nominated Judge Samuel Alito to the Supreme Court.
    2006 – Bob Barker retired after 35 years as the host of “The Price is Right.”
    2007 - Elvis topped the annual Forbes magazine list of most profitable dead celebrities, his estate having taken in $49 million over the past year. John Lennon is #2 while George Harrison, James Brown, and Bob Marley also make the list.
    2011 – The world’s population reached seven billion.  As of August 2016, it was estimated at 7.4 billion.
    2012 - Over 60 people died in the Mid-Atlantic states as the aftermath of Hurricane Sandy leaves millions without electricity and cripples its mass transportation system.  Many areas affected by the historic storm remain dislocated from their homes as insurance settlements and failed contractors have elongated the recovery.  The New York Stock Exchange reopened after a two-day closure due to Hurricane Sandy; this was the market's first weather-related two-day closure since the late 19th century.