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

kitmenkin@leasingnews.org
   


Wednesday, October 17, 2018


Today's Leasing News Headlines

Deborah Monosson Presented Award at ELFA Conference
  2017 Equipment Leasing Person of the Year
Assurance Partners LLC a.k.a Trust Capital LLC
   Complaint Bulletin Board
New Jersey Considering Bill Similar to CA SB1235
   Introduced by Senator Troy Singleton
Leasing Industry Ads
  Alliance Capital/Centra Funding
Letters?  We get email!
   SB 1235/Scott Wheeler/AACFB/Hugh Swandel
World’s Largest Airline Companies
   Revenue/Profit/Margin
OnDeck Launches ODX for Banks
  To Digitize Small Business Lending Process for Bank Clients
Q4 Economic Outlook Forecasts 7.9% Growth
 in Equipment and Software Investment in 2018
Wintrust hires David Normandin for Newest Division
   Wintrust Specialty Finance, Irvine, California
Labrador Retriever
   San Diego, California  Adopt-a-Dog
Twelve Attorneys Against Evergreen Abuse
   List
News Briefs---
US deficit rises 17% to the highest level since 2012
  The federal government is running up its credit bill again
US industrial production increased for a 4th-straight month,
   but momentum slowed sharply in the third quarter
Paccar recalls nearly 50,000 trucks
    with Cummins engines for fuel line issue
Climate change expected to double the cost of beer
  Losses of barley yield can be as much as 17 percent

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months

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

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

 

Deborah Monosson Presented Award at ELFA Conference
  2017 Equipment Leasing Person of the Year

(Photo taken at the ELFA, Women's Council Reception, presented
By Leasing News Advisory Board Director Shari Lipski, CLFP)

Left to right

Lisa Levine, Energy Bar Association
Donna Hamel, VP, Indirect Originations, PNC Equipment Finance
Aylin Cankardes, President, Rockwell Financial Group
Deb Monosson, President & CEO, Boston Financial & Equity Corporation
Shari Lipski, CLFP, Principal, ECS Financial Services
Marci Slagle, CLFP, VP, Origination, 36th Street Capital

“30 years ago my father was brave enough to hire me. He had much patience and was a true mentor. But it was also this industry, the associations and the people that helped me and supported me along the way. I am very honored to receive this award... and am sure it would have made my Dad proud. Thank you very much for the recognition.”
   Deborah Monosson


 (Chrystal award proof)

 
Deborah Monosson
Leasing Person of the Year 2017
President and CEO, Boston Financial & Equity Corp.
http://leasingnews.org/archives/Jan2018/01_03.htm#poy


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

Assurance Partners LLC a.k.a Trust Capital LLC
Complaint Bulletin Board

Leasing News has received complaints regarding Trust Capital, LLC, and Paul Kendall. The company is located at 2036 Hornblend Street, suite B, San Diego, California 92109. The complaint alleges threatening an applicant on voice mail and via text message. Customers posted all on YouTube.

"Paul Kendall, CEO of Trust Capital USA, made threats to inflict harm to my health, damage my family, and inflict harm. This constitutes a terrorist threat, criminal threat. Intentions are very clear of this man. Paul Kendall speaks for himself, in addition attempting to speak for Erick McAllister."

The YouTube also has copies of emails.

https://www.youtube.com/watch?v=d9PNdmpaTvE

This company was recently denied a license due to findings of fraud in the owner's criminal history.

http://www.dbo.ca.gov/ENF/List/T/Trust%20Capital%20LLC.asp

A comment or statement from Trust Capital was requested, but not received.

https://www.trustcapitalusa.com/leadership

 

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

New Jersey Considering Bill Similar to CA SB1235


Introduced by Senator Troy Singleton

The synopsis of NJ S2262 is to "require certain disclosures to recipients of small business loans.”  As it passed the committee on Monday, it is different in several respects to the California law.  It concerns small business loans of $100,000 or less, different that California $500,000 ceiling. It also does not apply to leasing, although that was not defined, as it eventually was defined in the California bill, primarily at the request of the Equipment Leasing and Finance Association.

The New Jersey bill does not require the disclosure of the annual percentage rate. It appears similar to the California law which requires the disclosure of an annualized rate but it does not specify that the rate used be APR as defined in federal law. The determination of which annualized rate metric to include in the disclosure will be up to the Department of Business Oversight.

Upsetting the Merchant Cash Advance group is an amendment defining merchant cash advances as small business loans for the purposes of disclosure.

According to Barry Marks "State Licensing and Usury Laws," New Jersey: Loans for business purposes under $50,000 are limited to 16% interest (or a rate tied to federal rates, if higher). In addition to its civil usury rates, New Jersey’s criminal usury rates are: (a) 50% for to loans to corporations, limited liability companies and limited liability partnerships; and (b) 30% to other borrowers Violation of criminal usury laws subjects the lending party to criminal usury liability and a fine up to $250,000.

Many leasing companies located in New Jersey are licensed through the State of Pennsylvania, although they are physically located in New Jersey, to avoid the usury laws.

As it stands now:

  • The annualized interest rate
  • The finance charge
  • The maximum credit limit available
  • The payment schedule
  • A list of all broker fees and a description of the broker’s relationship with the lender and any conflicts of interest the broker may have
  • These terms must be presented before a business accepts a loan

As predicted in Leasing News Legal Editor Tom McCurnin’s coverage from the beginning of California Senator Steve Glaser’s bill, the definition of disclosing interest rates in commercial transactions
will spread among the states.


[headlines]
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[headlines]
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Letters? We get email!
SB 1235/Scott Wheeler/AACFB/Hugh Swandel

Is the Disclosure Too Complicated?
State Senator Steven Glazer
   Position on CA SB 1235 (Part 3 of 3)
By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Sep2018/09_21.htm#disclosure

"As a long time Broker (27 years in business), I am very appreciative of all the articles Tom McCurnin has posted on Leasing News regarding the California bill SB1235.

"I've followed each article he's posted and quite frankly, California has become a state that is so difficult to do business in with all their regulations, including the requirement of a California Finance Lender's license, that many brokers are not pursuing deals in California.  It's unfortunate that this State has so highly regulated the equipment financing industry.  Now with the new Bill SB1235, things will be even more difficult for folks to comply as well as costly.  They'll have to change their software and forms in order to have a Rate disclosure on their documentation.  I sure hope other states don't follow their lead on this.  It will be cumbersome for brokers as well as funders.  I appreciate Tom and Leasing News informing all of us in the equipment finance business and I enjoy all the articles posted, including various cases that are litigated in the courts.  Those of us in the business owe Tom McCurnin and Leasing News a ton of gratitude for keeping us informed. "

Rosanne Wilson, CLFP, BPB
1st Independent Leasing, Inc.

California SB 1235 Will Not Kill
 Factoring, Finance, Leasing, Merchant Cash Advance
http://leasingnews.org/archives/Sep2018/09_07.htm#california

"...btw, I loved your article last week entitled, “California SB 1235 Will Not Kill Factoring, Finance, Leasing, Merchant Cash Advance”.  I thought it was very well reasoned.

Marshall Goldberg
Glass & Goldberg

Sales Makes it Happen by Scott Wheeler, CLFP
Credit Aptitude to Create More Sales
http://leasingnews.org/archives/Sep2018/09_19.htm#credit

"To underline Wheeler’s point, I learned later in my career that the company has portfolio quality goals along with volume and margin objectives, particularly if the external funding is predicated on certain portfolio quality as the lenders define them.

"Once I understood that, we reverse engineered our marketing and origination efforts around those industry, asset and applicant credit quality parameters (albeit structuring in some segments)…kind like pitching to the black edge of the plate in case the ump is calling Glavine-Maddux strike zones today!!

"With that we schooled our originators on understanding the basics of what our portfolio quality means in terms of industries and prospects that are solidly within the strike zone and those that are on the black.  The primary objective for their benefit is to get away from clogging the application pipeline with deals that do not have a chance, thereby reducing the time the credit team has on those that will be approved but with some massaging or story explanations.

"We always urged a transaction summary that provided the reasons why the deal should be approved evidenced by the portfolio quality objectives and why the deal fit them (TIB, guarantor’s FICO, pay history, financial statement trends, etc.) and what the risks are from the originator’s perspective, something that was appreciated by the credit team when it was not BS."

Ralph Mango

Record Attendance at Commercial Financing Expo Reports
American Association of Commerce Finance Brokers
http://leasingnews.org/archives/Sep2018/09_28.htm#record

"Thank you for posting this press release for AACFB. Love love love the photos you added to the quotes. And also thank you for the link to the video.

"A forever follower,"
Jill Miller

Hugh Swandel named CFLA
Member of the Year
http://leasingnews.org/archives/Sep2018/09_28.htm#swandel

"Thank you Kit! Honored to be in Leasing News!"

Regards,
Hugh Swandel
The Alta Group

First Bank of Highland Park
  Updated in Funder List
http://leasingnews.org/archives/Sep2018/09_28.htm#record

"Thank you, Kit, for revising our info on the Funders List.

"We got a little extra “pop” today because of it!  ☺

"Appreciate it!

 


[headlines]
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World’s Largest Airline Companies
Revenue/Profit/Margin


Rank

Airline

Revenue ($B)

Profit ($B)

Margin

#1

American Airlines

$43.0

$1.9

4.4%

#2

Delta Air Lines

$42.1

$3.5

8.3%

#3

Deutsche Lufthansa

$41.5

$2.8

6.7%

#4

United Continental

$38.3

$2.2

5.7%

#5

Air France-KLM

$29.1

-$0.3

-1.1%

#6

International Airlines

$26.0

$2.3

8.8%

#7

Southwest

$21.2

$3.6

17.0%

#8

China Southern

$19.7

$1.0

5.1%

#9

All Nippon

$17.8

$1.3

7.3%

#10

China Eastern

$15.7

$0.8

5.3%

Source: Forbes

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

OnDeck Launches ODX for Banks
To Digitize Small Business Lending Process for Bank Clients

NEW YORK,  -- OnDeck® (NYSE: ONDK), the leader in online lending to small business, introduced ODX, a new company that will focus on helping banks digitize their small business lending process.  ODX will operate as a wholly-owned subsidiary of OnDeck.

ODX represents an expansion of OnDeck's existing platform services business to address increasing demand from banks who want to bring their small business lending process online.  For many small businesses, the conventional bank lending process remains labor intensive and paper-based, requiring on average 26 hours over the course of several weeks to complete1.  The rise of digital lenders like OnDeck over the last decade has demonstrated that the originations process for small business borrowers can be simplified and accelerated by taking it online.  Building off that heritage, an ODX-powered bank platform experience can enable a small business customer to apply for financing from their bank digitally, receive immediate decisions, and obtain funding in as fast as 24 hours.
ODX offers a combination of software, analytic insights, and professional services to help banks reinvent their small business lending process.  At the core of the ODX solution is a modular, scalable, and reliable SaaS platform that enables banks to either create a fully end-to-end digital experience for their customers or to select certain components for specific product functions.  By utilizing an ODX platform, banks can focus on their desired business outcomes such as improved customer experiences, increased portfolio growth, and reduced processing costs.


Noah Breslow, Chairman and Chief Executive Officer, OnDeck, said, "OnDeck is a pioneer of online lending to small businesses, and ODX will leverage that proven expertise by collaborating with banks to provide their small business borrowers with fast and reliable financing online."

"ODX is the next generation service provider for the digital lending era, delivering a bank-ready origination platform, analytic support, and implementation services that speed product and process transformation to help banks better meet the evolving needs of their customers."

OnDeck also announced the appointment of Brian Geary to serve as president of ODX and the hiring of Raj Kolluri to serve as its head of Product and Technology. Mr. Geary previously served as vice president of OnDeck's bank partnership unit where he helped build the company's digital bank originations platform and oversaw its successful platform collaboration with JPMorgan Chase. Mr. Kolluri joins ODX from SS&C Primatics, where he served as vice president of Product & Engineering and contributed to the building of that company's SaaS analytics platform for banks.   


Brian Geary, President, ODX, said, "Digital channels are creating new ways for customers to discover, evaluate, and purchase products from banks."

 "ODX is committed to helping banks accelerate delivery of the digital experience that customers want, while enabling strong loyalty and ultimately, long-term profitable growth."

OnDeck's groundbreaking partnership efforts with banks began in 2015 and have subsequently proved that a bank and a financial technology (FinTech) company can work collaboratively to mutual benefit on a digital lending platform.  ODX is now offering expanded platform solutions for small business lending to a broad range of banks and financial institutions globally.     

To learn more about ODX, please visit www.odxsolutions.com or email bd@odxsolutions.com.
To view an introductory video on ODX featuring Noah Breslow and Brian Geary, please click here:  https://youtu.be/0XvQk9PuonI

Brian Geary, president of ODX, will be a featured speaker at this year's American Banker Small Business Conference, taking place November 28 to 30, 2018 in Nashville, Tennessee. For more information on Mr. Geary's presentation, please visit: https://www.americanbanker.com/conference/small-business-banking-2018/speakers

Footnotes:

  1. Federal Reserve Bank of New York, Small Business Credit Survey Q4 2013, February 2014.
  2. Based on all OnDeck's distribution channels for the quarter ended June 30, 2018.

About OnDeck
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online.  Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners.  The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary. OnDeck has provided over $10 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit www.ondeck.com.

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



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

Q4 Economic Outlook Forecasts 7.9% Growth
in Equipment and Software Investment in 2018

Washington, DC,– After solid growth in 2017, investment in equipment and software should remain strong in 2018 and is projected to expand 7.9 percent (up from 7.0 percent in the Q3 Economic Outlook published in July) according to the Q4 update to the 2018 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Strong economic momentum should drive investment activity through the rest of the year, though certain industries appear to be peaking and may begin to weaken in the months ahead. Overall, the economy is expected to grow 2.9% in 2018, unchanged from our most recent forecast and well above last year’s 2.2% growth rate. The Foundation’s report, which is focused on the $1 trillion equipment leasing and finance industry, highlights key trends in equipment investment and places them in the context of the broader U.S. economic climate.


Jeffry D. Elliott, Foundation Chairman and Senior Managing Director of Huntington Equipment Finance, said, “The equipment finance industry appears to be on sound footing with solid growth prospects in the months ahead. Overall, investment in most equipment verticals should remain healthy through the remainder of 2018 and into early 2019.”
Highlights from the study include:
•   Capital spending has been solid to date this year. Business confidence levels are currently elevated, supported by strong fundamentals in the U.S. economy. This should translate into steady expansion in equipment and software investment through the rest of the year with overall investment up 7.9% in 2018.
•   Credit market conditions remain healthy for Q4, with little change in supply or demand relative to Q3. Despite the late stage of the credit cycle and rising interest rates, financial stress decreased in the second quarter. The Federal Reserve is likely to raise its benchmark interest rate once more in 2018 for a total of four rate hikes over the year to curb inflationary pressures.
•   Overall, 2018 is likely to be a solid year for the U.S. economy and may approach 2015’s 2.9% expansion as the best year for growth since the recession. The U.S. economy has continued to post strong gains throughout 2018, with positive contributions to GDP from most major sectors of the economy.
 
The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is included in the report, tracks 12 equipment and software investment verticals. In addition, the “Momentum Monitor Sector Matrix” provides a customized data visualization of current values of each of the 12 verticals based on recent momentum and historical strength. Overall, investment in most equipment verticals should remain solid in 2018. Over the next three to six months:
•   Agriculture machinery investment growth is likely to slow.
•   Construction machinery investment growth should hold steady.
•   Materials handling equipment investment growth should remain modest.
•   All other industrial equipment investment growth is likely to continue to decelerate.
•   Medical equipment investment growth will likely remain stable.
•   Mining and oilfield machinery investment growth may strengthen.
•   Aircraft investment growth should remain solid.
•   Ships and boats investment growth is expected to accelerate.
•   Railroad equipment investment growth should improve.
•   Trucks investment growth should remain solid.
•   Computers investment growth should remain solid.
•   Software investment growth may soften.
The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economic and public policy consulting firm Keybridge Research. The annual economic forecast provides a three to six-month outlook for industry investment with data, including a summary of investment trends in key equipment markets, credit market conditions, the U.S. macroeconomic outlook, and key economic indicators. The Q4 report is the final update to the 2018 Annual Outlook before the publication of the 2019 Annual Outlook in December.  
Download the full report at https://www.leasefoundation.org/industry-resources/u-s-economic-outlook/. All Foundation studies are available for free download from the Foundation’s online library at http://store.leasefoundation.org/.
 
JOIN THE CONVERSATION
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ABOUT THE FOUNDATION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through charitable individual and corporate donations. Learn more at www.leasefoundation.org.

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



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

Wintrust hires David Normandin for Newest Division
Wintrust Specialty Finance, Irvine, California


Industry veteran David Normandin, CLFP,  has joined Wintrust Asset Finance as president and CEO of its newest division, Wintrust Specialty Finance, which will focus on equipment finance for small and mid-sized businesses nationwide.

“Our team’s experience in developing custom solutions tailored to each client reflects the culture, history, and values of Wintrust,” Normandin said. “We’re committed to employing Wintrust’s strong balance sheet and robust resources to create new business opportunities for small and mid-sized companies nationwide and become the industry’s first choice in commercial equipment finance. I’m truly excited to build a best-in-class solution-oriented business here with this new division of Wintrust Asset Finance.”


Mike Knowles, Wintrust Asset Finance president and CEO, said,” Right now we have a very comprehensive platform for large and mid-ticket equipment finance and have been on the hunt for a small business solution for several years, but we just couldn’t find the right fit.”

 “We’re excited to have someone with David’s experience and reputation on board to lead this effort.”

Normandin, a Certified Lease & Finance Professional (CLFP), has more than 20 years of experience in commercial finance, sales, marketing, and operations. He served as a past president of the Certified Lease & Finance Professional (CLFP) Foundation and annual conference keynote speaker for the National Association of Equipment Lessors and Brokers (recently rebranded as the American Association of Commercial Finance Brokers). Normandin previously served on the boards of the CLFP Foundation and National Equipment Finance Association (NEFA). Prior to joining Wintrust, he was a Managing Director for Hanmi Bank and a Managing Director and Senior Vice President for Banc of California.

Normandin holds a B.S. in business administration from San Diego State University.

Wintrust Asset Finance specializes in equipment financing for a number of industries including transportation, rail, material handling, construction, manufacturing, marine, technology, oil and gas, and medical. Wintrust Asset Finance is the umbrella group that oversees four more groups within the Wintrust family: Wintrust Equipment Finance, Wintrust Commercial Finance, Wintrust Capital and Wintrust Specialty Finance.

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


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

Labrador Retriever
San Diego, California  Adopt-a-Dog


Avy
#549479
Female
Age: 6 months
Weight: 49.4 lbs.
Color: Black/white
Spayed: Yes
Adoption Fee: $195.00

How I arrived: I was brought in by my previous owner on October 15, 2018.

Why I am the one for you: My Personality Color Code is Orange; meaning I'm Vivacious... enthusiastic... bubbly... vibrant...and cheerful!! With my boundless energy and charisma, my puppy antics will provide endless entertainment and brighten even the gloomiest of days. I approach life with lots of enthusiasm which keeps me excited about the world around me! I am extremely playful and fun-loving and I can't wait to find a special family to cherish!

I'm currently located at
San Diego Campus - 5500
5500 Gaines St. San Diego, California 92110
619-299-7012
info@sdhumane.org

POST ADOPTION COMPLIMENTARY VETERINARY EXAM LIST
https://www.sdhumane.org/how-you-can-help/adopt/vetexamlist/

My adoption fee includes my spay/neuter, current vaccinations, permanent microchip identification, a certificate for a free veterinary exam, waived enrollment fee for medical insurance from TruPanion, and a license if residing in Escondido, San Marcos, Poway, Oceanside, and Vista.

If you would like to meet an animal housed at a non-public location, call 619-299-7012 for an appointment. Please have the Animal ID ready.

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

 

[headlines]
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Twelve Attorneys Against Evergreen Abuse


The original intention of the Evergreen clause in an equipment leasing contract was to have an alternative to when the lessee did not exercise the residual at the end of the contract. Often the clause calls for an automatic additional twelve months when the residual is not resolved.

In most cases, the lessor notifies the lessee that the residual will be due, often ninety days in advance. However, often there is nothing in the contract that requires the lessor to notify the lessee regarding the expiration of the contract.

Contrarily, many small ticket lessors do not notify the lessee, and automatically continue the lease, often via an ACH or continued billing, which often goes unnoticed until many payments have already been made.

Leasing News would like to see an industry standard that lessees are notified in advance of the expiration of their contract regarding its termination. We support the clause, and the notification requirement is wide open, meaning 90, 60, even 30 days and by telephone or mail.

This list of attorneys agrees with this and will be available to lessees, sometimes able to help them without a fee, or at a reduced rate, in an effort to end the abuse of Evergreen clause leases.


Joseph G. Bonanno, Esq., CLFP
Attorney at Law, Massachusetts
Andover Landing at Brickstone
300 Brickstone Square, Ste. 201
Andover, MA 01810
Tel: (781)328-1010
Fax: (781) 827-0866
Email: law@jgbesq.com
"Industry expert witness in litigation, numerous authored and
co-authored published articles and conducting educational
seminars. Very well-known in the industry."

Jim Coston
Coston & Coston LLC
105 W. Adams Street
Suite 1400
Chicago, Illinois 60603
(312) 205-1010
jcoston@costonlaw.com
(In 1998, he was elected to the United Association of Equipment
Leasing Board of Directors, and in 2003-04 was the first
attorney to become UAEL President, very active in his political party.)

Ronald J. Eisenberg
Schultz & Associates LLP
640 Cepi Drive, Suite A
Chesterfield, MO 63005
(636) 537-4645 x108
(636) 537-2599 (fax)
www.sl-lawyers.com
(Proven Leasing Litigator, well respected by all sides)

Ronald P. Gossett
Gossett & Gossett, P.A.
400 Seridan Street, Building I
Hollywood, Florida
954-983-2828
Fax: 954-983-2850
rongossett@gossettlaw.com
(Many cases including NorVergence, Brican, among others, a winner)

Ken Greene
Law Offices of Kenneth Charles Greene
5743 Corsa Avenue Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
Skype: 424.235.1658
kenlaw100@gmail.com
(Ken was involved in the formation of Leasing News and
represented it (pro bono) in the early days.)

Peter S. Hemar, Esq.
Hemar & Associates, Attorneys at Law
2001 Wilshire Blvd., Suite 510
Santa Monica, CA 90403
Telephone: (310) 829-1948
Fax: (310) 829-1352
phemar@hemar.com
(My firm supports the clause giving lessees advance 
notice of the expiration of their contract.)

Brandon J. Mark
Attorney at Law, Admitted in Utah and Oregon
Parsons Behle & Latimer
201 South Main Street, Suite 1800
Salt Lake City, UT 84111
Direct Dial 801.536.6958
Facsimile 801.536.6111
www.parsonsbehle.com
BMark@parsonsbehle.com
(His firm represents banks who buy leases, and his
clients refuse to buy these types of leases.)

Barry S. Marks
MARKS & ASSOCIATES, P.C.
Financial Center - Suite 1615
505 North 20th Street
Birmingham, Alabama 35203
P. O. Box 11386
Birmingham, Alabama 35202
barry@leaselawyer.com
www.leaselawyer.com
205.251.8303
fax 278.8905 (Direct) 251.8305 (Main)
(Well-known to the leasing industry, also Alabama Poet)

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ste. 2200
Los Angeles, CA 90071
Voice: (213) 617-6129
Fax: (213) 625-1832
Cell: (213) 268-8291
Email: tmccurnin@bkolaw.com
(Leasing News Advisor/Leasing News Legal Editor,
Well-Known top Leasing Litigator)

Frank Peretore
Chiesa Shahinian & Giantomasi
West Orange, New Jersey
http://www.csglaw.com/biographies/frank-peretore 
Phone 973-530-2058
fperetore@csglaw.com
(Experienced leasing attorney, aggressive, author, active
National Equipment Finance Association, ELFA, too)

Kevin E. Trabaris, Partner
Culhane Meadows PLLC
30 S. Wacker Drive, 22nd floor
Chicago, IL  60606
Telephone:  847-840-4687
Email:  ktrabaris@culhanemeadows.com
llflegal.com/attorneys/kevin-trabaris
"In my career, I’ve repeatedly seen this provision misused
by unscrupulous lessors and think it’s a bad idea for both
the lessee and the lessor."

Michael J. Witt, Esq.
MICHAEL J. WITT LAW OFFICES
4342 Oakwood Lane
West Des Moines, IA 50265
Tel: (515) 657-8706
Mobile: (515) 868-1067
Fax: (515) 223-2352
email: MWitt@Witt-Legal.com
 Web:  www.witt-legal.com
(Former Advanta Leasing
and Wells Fargo Equipment Finance attorney)

 


[headlines]
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News Briefs----

US deficit rises 17% to the highest level since 2012
The federal government is running up its credit bill again
https://www.cnn.com/2018/10/15/economy/us-budget-deficit/index.html

US industrial production increased for a 4th-straight month,
   but momentum slowed sharply in the third quarter
https://www.cnbc.com/2018/10/16/us-industrial-production-rose-0point3percent-in-sept-vs-0point2percent-increase-expected.html

Paccar recalls nearly 50,000 trucks
    with Cummins engines for fuel line issue
http://www.landlinemag.com/Story.aspx?StoryID=73141#.W8ZqAvZRdjU

Climate change expected to double the cost of beer
  Losses of barley yield can be as much as 17 percent
https://nypost.com/2018/10/15/climate-change-expected-to-double-the-cost-of-beer/

 



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


You May Have Missed---

Your Business Financial Statement
A Visual Guide to Understanding
http://www.visualcapitalist.com/visual-guide-understanding-financial-statement/


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

October

by Hester Jewell Dawson ©
Published: Stone Country (1986)

the high fly ball,
arches out above left field,
hangs there in the sky
outblazing the sun
while fifty thousand heads swings and cry
"Over the wall! Over the wall!"

then hold, fixed and dumb
as the ball drops
down and down, a dead bird
into a waiting glove

and there you have it: the song,
the flight, the perilous whisper of truth
or of love or possibly of faith

then the descent
and the end of the game


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


Sports Briefs---

49ers add a veteran quarterback to roster
https://www.mercurynews.com/2018/10/16/49ers-add-a-veteran-quarterback-to-roster/

Jon Gruden to Raiders’ rookies after London loss: ‘Don’t forget this’
https://www.sfchronicle.com/raiders/article/Gruden-to-Raiders-rookies-after-London-loss-13308554.php

Khalil Mack to undergo tests on injured right ankle
http://www.theredzone.org/Blog-Description/EntryId/72906/Khalil-Mack-to-undergo-tests-on-injured-right-ankle

Eli Manning trade could save him and the Giants: ESPN QB
https://nypost.com/2018/10/15/eli-manning-trade-could-save-him-and-the-giants-espn-qb/


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


California Nuts Briefs---

Supreme Court lets stand California ruling holding
 lead paint makers liable for $400-million cleanup cost
http://www.latimes.com/politics/la-na-pol-supreme-court-grants-20181015-story.html

San Jose’s downtown shopping spree rockets
   past $1.4 billion in one year
https://www.mercurynews.com/2018/10/15/san-joses-downtown-shopping-spree-rockets-past-1-4-billion-one-year-google-adobe-amazon-facebook/


[headlines]

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




“Gimme that Wine”

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

U.S. Wine Sales Led by Value Increases
https://www.winesandvines.com/news/article/204651/US-Wine-Sales-Led-by-Value-Increases

Legislation allows Napa wineries to use social media better
https://napavalleyregister.com/news/local/legislation-allows-napa-wineries-to-use-social-media-better/article_2332c999-6381-532b-90d4-207e4010ed88.html


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

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

This Day in History

     1492 - Columbus sights the isle of San Salvador, Bahamas.  Columbus called the island San Salvador; the natives called it Guanahani. Exactly which island in the Bahamas this corresponds to is unresolved. Based on primary accounts and on what one would expect from the geographic positions of the islands given Columbus's course, the prime candidates are San Salvador Island (so named in 1925 on the theory that it was Columbus's San Salvador), Sanama Cay, and Plana Cays.
    1711 - Birthday of Jupiter Hammon (d. 1790), America's first published black poet, whose birth anniver­sary is celebrated annually as Black Poetry Day, was born into slavery, probably at Long Island, NY. He was taught to read, how­ever, and as a trusted servant was allowed to use his master's library. “With the publication on Christmas Day, 1760, of the 88-line broadside poem ‘An Evening Thought,' Jupiter Hammon, then 49, became the first black in America to publish poetry.”
    1777 - British General John Burgoyne with an army of 7,000 surrenders at Saratoga, NY. Burgoyne, known in the press as "Gentleman Johnny" began his sojourn in Canada. Burgoyne's cumbersome retinue, which included 30 carts of Burgoyne's personal possessions, and several cases of champagne, was stymied by the dense New York forests. The American History handbook states he was surrounded by a superior force, and “capitulated” to Gen. Horatio Gates.
http://www.pbs.org/ktca/liberty/chronicle/episode4.html
http://famousamericans.net/johnstark/johnburgoyne.net/
http://www.horatiogates.com/ http://www.patriotresource.com/people/gates/timeline.html
    1781 - Cornwallis was defeated at Yorktown, VA. Cornwallis' options had been running out. He had even tried sending blacks infected with smallpox over enemy lines in an attempt to infect the American and French troops. After a futile counterattack, General Cornwallis attempted to escape encirclement by crossing York River, "but a violent storm arose," dispersing his boats causing him to ask for an armistice.
    1787 – Blacks in Boston petitioned the state legislature for equal education facilities.  In 1642, the Massachusetts Bay Colony made "proper" education compulsory; other New England colonies followed. Similar statutes were adopted in other colonies in the 1640s and 1650s. The schools were all male and all white, with few facilities for girls.  In the 18th century, "common schools," appeared; students of all ages were under the control of one teacher in one room. Although they were publicly supplied at the local (town) level, they were not free, and instead were supported by tuition or "rate bills."  In 1965, Massachusetts passed into law the Racial Imbalance Act, which ordered school districts to desegregate or risk losing state educational funding. The first law of its kind in the nation, it was opposed by many in Boston.
    1814 - Marines and Sailors landed on Grand Terre Island, Louisiana, to punish pirates. Pirate leader Jean Lafitte's activities threatened to monopolize the city's import trade. New Orleans merchants goaded the new American governor, William C. C. Claiborne, into accusing him of piracy and posting a $500 reward. Lafitte made Claiborne a laughingstock with his own offer of $1500 for Claiborne's capture, and to rub it in, he hired District Attorney John R. Grymes as his counselor (for a reported $10,000). Lafitte would not be bought, bribed, or intimidated. In 1814, the British offered him $30,000 and a Royal Navy commission to help them capture New Orleans. The buccaneer turned them down and informed Claiborne of his wish to become a citizen and to give Claiborne his support if his privateer followers were pardoned for all past crimes. Claiborne was ready to relent when the American Navy swooped down on the Grand Terre base and destroyed it. Fortunately for the infant United States, General Andrew Jackson sought out the buccaneer and agreed to honor his request.
    1823 - Seeking counsel on foreign policy, specifically South America, President Monroe formulated the “Monroe Doctrine:” hands-off, which actually started with President George Washington who warned about joining Britain or any other country in their “foreign affairs, disputes, conquests.”
http://memory.loc.gov/ammem/today/oct17.html
    1834 - James Bogardus of New York City received a patent for a “gas meter” to record the amount of gas used. It operated on the principle of a bellows, alternately being filled with gas and emptied, while the pulsations were counted on a register.
    1845 - According to a Boston newspaper, the entire audience walked out of a reading of "The Raven." The audience walked out, not because of the material, but because of their objection to Edgar Allan Poe, the reader and author of the macabre story. 
    1848 - Birthday of William “Candy” Cummings (d. 1924), Baseball Hall of Fame pitcher, at Ware, MA. Cummings is generally regarded as the first pitcher to throw a curve ball. He learned the technique, he said, sailing oyster shells. He played in baseball's amateur era and as a professional. Inducted in the Hall of Fame in 1939.
    1855 – The Bessemer steel-making process was patented.  The first inexpensive industrial process for the mass-production of steel from molten pig iron required the removal of impurities from the iron by oxidation with air being blown through the molten iron. The oxidation also raises the temperature of the iron mass and keeps it molten. The modern process is named after its inventor, the Englishman Henry Bessemer.
    1859 - Abolitionist John Brown leads a group of men in a raid to capture the federal arsenal located at Harpers Ferry, Virginia with the intent to arm slaves he would lead in revolt against their masters. His plans are foiled by local townspeople who attacked his party and forced it into the firehouse. U.S. Marines under the command of Army Colonel Robert E. Lee arrive and storm the “Brown's fort,” killing or capturing the raiders. Brown is captured and later tried for treason, convicted and quickly hung in Charlestown, VA (now WV). During this period, he is guarded by several hundred Virginia militia against the possibility of other raiders trying to free him, though no such attack was launched. Because of his raid and the fear of other attempts to get the slaves to rise in revolt, the growth of volunteer militia units in the southern states rose sharply in the months leading up to the Civil War.
    1859 – William “Buck” Ewing (d. 1906) was born in Hoagland, OH.  One of the biggest stars in 19th century baseball and arguably among the greatest catcher of all time, he was inducted into the National Baseball Hall of Fame in 1939.
    1863 - The San Francisco and San Jose Railroad ran their first
train to California Avenue, Mayfield (which was to become the City to Palo Alto.)  A picnic was given near San Francisquito Creek for a crowd of 500. The next day regular service was begun to Mayfield
http://www.ggrm.org/history/peninsula.html
    1886 - Birthday of Spring Byington (d. 1971), Colorado Springs, CO.  U.S. stage actress turned movie character actor in dozens of films. Starred in the long-running television series, “December Bride” (1954-59).  My close high school friend’s father, Harry Morgan, appeared in the television series, and then later went on to “Dragnet” and “M*A*S*H*.”
    1888 - The first issue of "National Geographic Magazine" was on newsstands. The highly acclaimed magazine was published on a somewhat irregular basis at first. Material was hard to come by in the early years, so the publisher just waited to publish the next issue until enough material accumulated to fill it. The science and travel magazine, the official journal of the National Geographic Society (incorporated January 27, 1888), soon became a monthly and it wasn't long before it was famous for its maps and photographic essays of exotic locales and peoples. 
    1905 - Birthday of Jean Arthur (d. 1991), Plattsburgh, NY.  She was an actor with a voice that "had a poignant catch in it," was a star in both the movies and Broadway. She is best known for her movie roles in “Mr. Smith Goes to Washington” (1939), “The More the Merrier” (1943), and “Shane” (1953), and my favorite, “You Can't Take It With You” (1938). On Broadway, her Peter Pan was noteworthy. She suffered a great deal from "camera fright," and had retired before being convinced to come back for what became a Hollywood classic, “Shane.” She later taught acting at Vassar College. 
    1909 - Drummer William Randolph “Cozy” Cole (d. 1981) was born East Orange, NJ.  Played with Cab Calloway, Louie Armstrong.  He scored a #1 Cashbox magazine hit with the songs "Topsy I" and "Topsy II." "Topsy II" peaked at #3 on the Billboard Hot 100, and at #1 on the R&B chart.  It sold over one million copies, and was awarded a gold disc.  It reached #29 in the UK Singles Chart in 1958.  The recording contained a lengthy drum solo, and was one of the few drum solo recording that ever made the charts.  In films: “Make Mine Music,” “The Glenn Miller Story.”  Developed a drummers' school with Gene Krupa. 
http://www.spaceagepop.com/cozycole.htm
http://www.drummerworld.com/drummers/Cozy%20Cole.html
   1910 - Trumpet Player Harry “Sweets” Edison (d. 1999) birthday, Columbus, OH.  Member of the Count Basie orchestra.  http://www.geocities.com/BourbonStreet/9555/artists/lege\nds/edison_harry.htmlhttp://www.geocities.com/BourbonStreet/9555/artists/lege
nds/edison_harry.htm
l
    1911 – Home Run Baker got his nickname.  In Game 3 of the World Series, Frank Baker homered in the 9th inning off Christy Mathewson to tie the score, 1 - 1. His Philadelphia Athletics scored twice in the 11th inning to beat the New York Giants, 3-2.
    1912 – Pope John Paul I was born Albino Luciani (d. 1978) in the Italian province of Veneto.  He served as Pope for only 33 days, among the shortest in papal history.  His death, despite rampant conspiracy theories, was deemed due to a massive heart attack.
    1914 – Jerome “Jerry” Siegel (d. 1996) was born in Cleveland.  Co-creator, along with Joe Shuster, of “Superman,” the first of the great comic book superheroes and one of the most recognizable of the 20th century.  As part of the deal which saw “Superman” published in Action Comics, Siegel and Shuster sold the rights to the company in return for $130 and a contract to supply the publisher with material.  In the midst of the Great Depression, the cash and a steady job were considered a good deal.
    1915 - Birthday of dramatist Arthur Miller (d. 2005), New York, NY. “Death of a Salesman,” “A View from the Bridge,” “All My Sons,” “The Crucible.”
http://www.kirjasto.sci.fi/amiller.htm
http://ocean.st.usm.edu/~wsimkins/trial.html
    1918 - Birthday of Rita Hayworth, born Margarita Carmen Cansino (d. 1987) in Brooklyn.  Her father was a dancer from Spain and her mother performed with Ziegfeld.  Dancer, actor, World War II Pin Up Girl. Her husbands were as interesting as her films: Orson Wells, innovative director and actor; Prince Aly Khan, playboy of the Moslem world; singer Dick Haymes and British film director James Hill (of “Born Free”). As a film actor, her “Gilda” (1944) and “The Lady from Shanghai” (1949) were probably her best. She was billed as the Great American Love Goddess. Her picture was attached to the atomic test bomb that was dropped on Bikini Atoll in 1946 - considered at the time to be a great compliment. She was a very fine dancer. Her mother was one of a long line of English actors. She was a victim of Alzheimer's disease and her daughter Jasmine (daughter of Aly Khan) remained steadfastly devoted to her through all the bad times.
    1919 - The Radio Corporation of America, soon to be simply known as RCA, is founded by General Electric as a publicly-held monopoly, much the same way "the phone company" was originally envisioned.  After World War I began in August 1914, radio traffic across the Atlantic Ocean increased dramatically after the western Allies cut the German transatlantic telegraph cables. Germany, Austria-Hungary, and their allies in Europe maintained contact with neutral countries in the Americas via long-distance radio and telegraph cables owned by neutral countries such as the Netherlands and Denmark.  In 1917, the US government took charge of the patents owned by the major companies involved in radio manufacture in the United States to devote radio technology to the war effort. All production of radio equipment was allocated to the US Armed Forces. The War department and the Navy Department sought to maintain a federal monopoly of all uses of radio technology. The wartime takeover of all radio systems ended late in 1918, when the U.S. Congress failed to pass a bill which would have extended this monopoly. The war ended in November of that year.  The ending of the federal government's monopoly in radio communications did not prevent the War and Navy Departments from creating a national radio system for the United States.  On 8 April 1919, naval Adm. W. H. G. Bullard and Capt. Stanford C. Hooper met with executives of the General Electric Company and asked them to discontinue selling the company's Alexanderson alternators (used in the high-power AM radio transmitters of that era) to the British-owned Marconi Company, and to its subsidiary, the Marconi Wireless Telegraph Company of America.  The proposal presented by the government was that if GE created an American-owned radio company, then the Army and Navy would effect a monopoly of long-distance radio communications via this company. This marked the beginning of a series of negotiations through which GE would buy the American Marconi company and then incorporate what would be called the Radio Corporation of America..
    1923 - Guitarist Barney Kessel (d. 2004) born Muskogee, OK.
http://www.classicjazzguitar.com/artists/artists_page.jsp?artist=17
http://www.jazzguitar.com/features/kessel.html
http://hometown.aol.com/kenbrowgtr/kesselstories.htm
    1928 - James William (Jim) Gilliam (d. 1978), baseball player, born at Nashville, TN. Gilliam, known as “Junior,” was National League Rookie of the Year in 1953 for the Brooklyn Dodgers after playing in the Negro Leagues. He was a steady infielder who became a respected coach after his retirement.
    1930 - Duke Ellington records “Mood Indigo,” Brunswick.
    1931 - After a long run as the crime kingpin of Chicago's underworld, Al Capone finally landed in jail. Capone was ultimately sent away for tax evasion, a relatively minor offense for a man who oversaw elaborate liquor bootlegging network, extensive prostitution rings, and various gambling operations. For many years, crime did pay for Capone. By 1927, he had hauled in an impressive--and tax-free--fortune worth over $100 million. Of course, with his penchant for maiming and killing the competition, Capone was just a bit more dangerous than the average entrepreneur. However, usual strong-arm tactics couldn't help him bully past the IRS. Capone was sentenced to an eleven-year prison term and was forced to pay $80,000 in fines and court fees. 
    1931 - Birthday of Anne Bancroft, born Anna Maria Louisa Italiano (d. 2005) in The Bronx.  An often-honored U.S. stage and film actor, she won the 1960 Tony (ANTA) award for originating the Annie Sullivan role in “The Miracle Worker” and won the Academy Award when she reprised the role on film. In 1987, she won the top British film award for her beautifully understated role in “84 Charing Cross Road.” Other awards: 1958 Tony for Best Supporting Actress for “Two for the Seasons;” Academy Award nominations for “The Pumpkin Eater” (1964) which won the Cannes International Film festival prize, “The Graduate” (1967), and “The Turning Point” (1977).  Her mother was a telephone operator at Macy's Department Store in New York City. She was an outstanding comedian and receive the Lifetime Achievement in Comedy award in 1966.
    1932 - Birthday of Paul Edward Anderson (d. 1994), Olympic gold medal weightlifter, at Tocoa, GA. Anderson won the heavyweight world championship in 1955 and a gold medal at the 1956 Melbourne Olympics. He was renowned as the “World's Strongest Man” for his feats of strength, including a back lift of 6,270 pounds. In 1962 he opened the Paul Anderson Youth Home.    
        1933 - Dr. Albert Einstein moved to Princeton, NJ, after arriving in the United States from his troubled homeland of Germany. 
    1933 – Pianist Floyd Cramer (d. 1997) was born in Shreveport, LA.  Cramer became well known following the release of "Last Date" in 1960.  The instrumental piece exhibited a relatively new concept in piano playing known as the "slip note" style. The record went to number two on the Billboard Hot 100 chart, sold over one million copies, and was awarded a gold disc. In 2003, Cramer was inducted into the Country Music and the Rock and Roll Halls of Fame.  In 2004, his recording of "Last Date" was inducted into the Grammy Hall of Fame.
    1934 - Birthday of Maureen Catherine Connolly (d. 1969), San Diego.  Arguably the greatest woman tennis player who ever lived. She was the first woman to win the grand slam of tennis, winning the British (Wimbledon), U.S., Australian, and French singles championships in 1953.
She won the first of her three U.S. championship at 17 after which she lost only four matches the rest of her career. She won the Wimbledon three times (1952-54), the French Championship in 1953 and 1954, and the Australian (1953) and Italian (1954). The Associated Press named her Woman Athlete of the Year in 1952, 1953, and 1954. All this by the time she was 20!  But that was all there was to be. She suffered a career-ending horseback riding accident when she was only 20, just weeks after winning her third straight Wimbledon.  She had started playing tennis when she was ten, begging her parents for equipment and a pro teacher. She became a star in amateur competition almost immediately and, at 13, caught the eye of legendary coach Eleanor Tennant who had also guided the games of such tennis luminaries as Helen Wills Moody and Alice Marble.  Connolly was a natural left-hander who played right with a devastating ground game. At one point she won 56 straight matches.  Following her career-ending accident, she devoted her efforts to helping young players through the Maureen Connolly Brinker foundation. She married and had two children before the unthinkable occurred. She died of cancer at only 35.    1945 - Actress Ava Gardner made news. She married bandleader Artie Shaw. 
    1949 - The first long-distance dial telephone service began. The president of Pacific Telephone and Telegraph dialed New York City from Oakland, California. The call lasted about one minute. Previously, long-distance calls were placed by telephone operators.
    1949 - Top Hits
“You're Breaking My Heart” - Vic Damone
“Someday” - Vaughn Monroe
“That Lucky Old Sun” - Frankie Laine
“Slipping Around” - Margaret Whiting & Jimmy Wake
    1950 - Small but powerful Hurricane King struck Miami, FL. The hurricane packed winds to 122 mph, with gusts to 150 mph. Hurricane King then moved up the Florida peninsula to Georgia. Four persons were killed and damage was 28 million dollars.
    1953 - The first concert of contemporary Canadian music presented in the U.S. was performed by conductor Leopold Stokowski at Carnegie Hall in New York City. 
    1955 - Jose Ferrer and Claire Bloom starred on NBC's "Producer's Showcase." They performed in "Cyrano De Bergerac." Ferrer also won an Oscar for his performance in the film version. 
    1956 - Birthday of Dr. Mae Jemison, first Black female astronaut.  She became the first African-American woman to travel in space when she went into orbit aboard the Space Shuttle Endeavour on September 12, 1992.
http://www.maejemison.com/
    1956 - The screen version of the Jules Verne novel, “Around the World in 80 Days,” starring David Niven and countless cameos, premiered in New York. Supporting actor Cantinflas later won a Golden Globe for Best Actor in a Musical/Comedy for his role, and the film earned a Best Picture Oscar.
    1956 - Mickey and Sylvia record, "Love Is Strange." 
    1957 - Top Hits
“Chances Are/The Twelfth of Never” - Johnny Mathis
“Jailhouse Rock” - Elvis Presley
“Keep a Knockin'” - Little Richard
“Wake Up Little Susie” - The Everly Brothers
    1957 - The movie “Jailhouse Rock,” starring Elvis Presley, is released in the US, premiering at Loews State Theatre, where Elvis worked as an usher five years earlier.
    1960 - The National League announced that expansion franchises were being awarded to the New York Metropolitan Baseball Club, Inc., headed by Mrs. Joan Payson, and to a Houston group of investors led by Judge Roy Hofheinz.
         1964 - A British group known collectively as Manfred Mann had the number one single on the Billboard Pop chart with "Do Wah Diddy Diddy." The song was sung by vocalist Paul Pond, who used the stage name Paul Jones. Keyboard player Michael Lubowitz would retain the band's name and continued to turn out chart hits until the mid-1980s.
    1964 - The Zombies' "She's Not There" is released in the US where it would become the band's highest charting single, reaching #2.
    1964 – Despite a 99-63 record and a World Series, the Yankees fired first-year manager Yogi Berra after they lost the Series to the St. Louis Cardinals.  Cardinals Manager Johnny Keane resigned unexpectedly and took the Yankee job which opens as the result of the firing of Berra.
    1965 - Top Hits
“Yesterday” - The Beatles
“Treat Her Right” - Roy Head
“A Lover's Concerto” - The Toys
“Behind the Tear” - Sonny James
    1966 - “Hollywood Squares” premieres on TV. On this game show, nine celebrities sat in a giant grid. Two contestants played tic-tac-­toe by determining if an answer given by a celebrity was correct. Peter Marshall hosted the show for many years with panelists Paul Lynde, Rose Marie, Cliff Arquette, Wally Cox, John David­son and George Gobel among others. John Davidson took over as host in 1986 for a new version of the game show with Joan Rivers and, later, Shadoe Stevens at center square. In 1998, ‘Hol­lywood Squares” appeared again with Tom Bergeron as host and Whoopi Goldberg as the center square.
    1967 - The rock musical "Hair" opened to rave reviews at the Anspacher Theatre in New York City. The smash ran for 1,758 performances.    
    1970 - The song “I'll Be There,” by The Jackson 5, zoomed to the Number 1 spot on Billboard's record chart and stayed there for 5 weeks.
    1973 - The Arab-dominated Organization of Petroleum Exporting Countries (OPEC) announces a decision to cut oil exports to the United States and other nations that provided military aid to Israel in the Yom Kippur War of October 1973. According to OPEC, exports were to be reduced by 5 percent every month until Israel evacuated the territories occupied in the Arab-Israeli war of 1967. In December, a full oil embargo was imposed against the United States and several other countries, prompting a serious energy crisis in the United States and other nations dependent on foreign oil.
   1973 – “The Way We Were,” starring Barbra Streisand and Robert Redford, opens. The hit movie also produced a hit song by the same title for Streisand.
    1973 - Top Hits
“Half-Breed” - Cher
“Ramblin' Man” - The Allman Brothers Band
“Higher Ground” - Stevie Wonder
“Ridin' My Thumb to Mexico” - Johnny Rodriguez
    1974 – In a rare feat, the Oakland A’s won their third consecutive World Series, beating the Dodgers in five games.  The Athletics join the Yankees as the only franchises in Major League history to win three straight titles.  
    1978 - Neil Diamond and Barbra Streisand, "You Don't Bring Me Flowers."  It hit the top of the Billboard Hot 100 chart.  The roots of the duet version, as chronicled in myriad Streisand and Diamond biographies, revolve around WAKY-AM/Louisville KY program director, Gary Guthrie, who spliced the two solo tracks together as a going away present to his wife, whom he had just divorced. As the real life fairytale behind the song unfolded, it triggered a media buzz worldwide. Interest in the duet caused such a clamor on the retail level that Columbia Records was compelled to bring Streisand and Diamond into the studio to record an "official" version.  They were classmates in Brooklyn’s Erasmus Hall High School and members of the Freshman Chorus and Choral Club.  “Flowers” is their only collaboration.
    1981 - Top Hits
“Arthur's Theme” (“Best That You Can Do”) - Christopher Cross
“Start Me Up” - The Rolling Stones
“For Your Eyes Only” - Sheena Easton
“Party Time” - T.G. Sheppard
    1983 - Actor Anthony Quinn lit up the Great White Way in the revival of the 1968 musical, "Zorba," that reunited Quinn with Lila Kedrova, who played Madame Hortense. They both had appeared in the film portrayal, "Zorba the Greek," which won Quinn a nomination for Best Actor, and an Oscar for Kedrova as Best Supporting Actress. This was one of the few films that came before the Broadway show, rather than the reverse.
    1987 - With their #1 comeback hit "You Win Again," the Bee Gees become the first group to score a UK Number One hit in three separate decades -- the 60s, 70s, and 80s.  
    1989 – The Loma Prieta earthquake of 7.1 in my hometown of Los Gatos and the Bay Area, hit at 5:04PM. I was in my Chevrolet Suburban, not far from the office, near the University of Santa Clara, and a student on a bicycle in front of me suddenly fell down. At first I thought I hit him, and as he got up, I glanced over and saw two other bicyclists trying to stand, and my car was violently rocking sideways as if the car had been silently blindsided. KCBS was on and announced they felt an earthquake, which later turned out in the Loma Prieta section of Los Gatos. The quake caused damage estimated at $10 billion and killed 67 people, many of who were caught in the collapse of the double-decked Interstate 80 in Oakland, California. A section of the San Francisco-Oakland Bay Bridge collapsed, swallowing one car.  The Marina section of San Francisco caught fire from ruptured gas mains.  We were without electricity and water for several days and sales for the month were the lowest they ever have been in our history as it took business many weeks to recover.  As a sports note, the event is also known as the “World Series Earthquake.” Minutes before the start of Game 3 of the World Series billed as the “Battle of the Bay,” between the Oakland A's and the San Francisco Giants, Candlestick Park was rocked by the ‘quake.  The game was postponed and the Series delayed for 11 days. The Oakland Athletics won games three and four for the first Series sweep in 13 years.
    1989 - Showers and thunderstorms representing the remnants of Hurricane Jerry deluged southeast Kentucky with four to six inches of rain in 18 to 24 hours, resulting in widespread flash flooding. Flooding resulted in more than $5 million damage. Temperatures again warmed into the 80s and lower 90s in the southeastern U.S. Lakeland FL and Orlando FL reported record highs of 95 degrees.
    1989 - Top Hits
“Miss You Much” - Janet Jackson
“Love Song” - The Cure
“Mixed Emotions” - Rolling Stones
“Killin' Time” - Clint Black
    1996 - Prodigy re-launched itself as an Internet access provider on this day in 1996. A one-time leader in the online service business, the joint venture between Sears and IBM found its membership flagging in the face of competition from America Online and the increasing popularity of the Web. Sears and IBM sold the service earlier in 1996 to a cellular technology firm. Although Prodigy didn't scrap its entire proprietary service, executives made it clear that Internet access would become the company's main focus. The company went public in 1998. 
    2002 - The litigation against the fan who caught Barry Bond's record breaking 73rd home run at Pac Bell Park, brought three friends, claiming a promise, in exchange for a ticket to the game, to split the ball's value if caught, is settled when Jay Arsenault agrees to sell the ball and divide the money. Arsenault's lawyer said had his client initially eluded the friends because of being overwhelmed by the situation. 
    2003 - Early editions of the N.Y. Post include an editorial claiming the Yankees lose to Boston and couldn't get the job done in Game 7 of the ALCS. Although the Bronx Bombers did trail the Red Sox, the team rallies to beat their arch rival in 11 innings, 6-5
    2005 - Fats Domino returns to his Ninth Ward home for the first time since Hurricane Katrina to find it utterly destroyed, with his piano and several of his gold records among the ruined items. 
    2007 - The section of West Grand Blvd. in Detroit, MI, that once housed the Motown studios is officially renamed "Berry Gordy Jr. Boulevard."
    2011 - Apple Inc. broke company sales records with the release of its iPhone 4S smartphone with over 4 million units sold in 4 days. The iPhone's commercial success has been credited with reshaping the smartphone industry and helping to make Apple one of the world's most valuable publicly traded companies by 2011.  The original iPhone was one of the first phones to use a design featuring a slate format with a touchscreen interface.  Almost all modern smartphones have replicated this style of design.  In the US, the iPhone holds the largest share of the smartphone market. As of late 2015, the iPhone had a 43.6% market share.
    2012 - Amidst controversy over the anti-doping scandal, Lance Armstrong resigned as chairman of LIVESTRONG, his anti-cancer charity.

World Series Champions: 
    1971 - Pittsburgh Pirates
    1974 - Oakland Athletics
    1978 - New York Yankees
    1979 - Pittsburgh Pirates

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Top Stories

(chronological order)

- CLFP Companies with Two or More Members
- Letters?  We get email!
    Hawaii/Lease Blind Discounts/Paul Menzel/Balboa/ELFA
- CLFP Foundation Adds 40 New CLFPs
- July Leasing/Finance Business Down 10% in July
    Reports Equipment Leasing and Finance Association
- The Deception of Leasing -
   California SB 1235
Marlin Earnings Call Transcript 2nd Quarter, 2018
- North Mill Equipment Finance Acquired
- Balboa Capital Gets Sued Quarterly Interim Rent
   in California Class Action Lawsuit
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- The Inside on What is Going On at Amur Financial Group
- Top Six Leasing Company Websites in North America
- Final Approval of Multi-Million Dollar Class Action Settlement
    Ascentium, Balboa, Univest, et al
- More Changes at Bank of the West Leasing
    Moving to Tempe, Arizona
- Paul J. Menzel – CLFP for 28 years
- Paul Larkins joins Aquiline Capital Partners
- Embraces FinTech with CapitalStream
- Major Changes to Doing Leasing and Finance Business
   in California as Two Bills Move Along in the Process
- Letters? We get email!
- Don't Get Fooled by these Common UCC Filing Myths
- The 1 networking rule 99% of people are afraid to follow, but should!
- KeyBank Acquires SMB Lending Tool Bolstr
- Takeaways from the 2018 Credit Manager Survey
- Equipment Finance Merger & Acquisition Interest Strong
- The Growth of Commercial Loan Brokers
   Goodbye “Lease Consultant” Title
- Leasing Broker in Massachusetts Sentenced
- Types of Fraud
- 50th Anniversary NVLA Conference
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-The Necessity of Landlord Waivers
- Vendors’ Number One Problem, Not the Applicant
- How to Get to "Groups" in LinkedIn
- Advanced Execution of Acceptance Certificates
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- Verhelle Forms New Company, Registering in California
- Where is the Franchise Market Going?
- Will Your Company be the Next Victim?
    A Disturbing New Trend in Fraud
- Lesley Farmer, KLC Finance, A Top Woman in Finance
    Selected by Finance & Commerce
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- FinTech #102  by Christopher Menkin
   Menkin has an Epiphany
- Alternate Finance Companies - Subprime
- FICO Score: Excellent to Bad
- Charlie Chan on Balboa Capital
- Reader Complaint About LEAF Financial Investment (Collection)
- How to be a “Leasing Expert Witness”
    and Make Extra Income
- Your Photograph on LinkedIn.com
Use a Password Generator
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- Why Leasing News is Different
- Take Your Banker to Lunch
- Lease Police Tips on Judging Vendors
- Alert: Rudy Trebels Back Soliciting Broker Business
- "The real U.S. Bank Equipment Finance story"
- The Day that Albert Einstein Feared May Have Finally Arrived
- Equipment Finance Agreements Explained/Barry S. Marks
- California License Web Addresses
- Settlement Costs vs. Litigation Costs