New Complaint Bulletin Board Policy
Dancing with the Stars—Obama/Palin
New Complaint Bulletin Board Policy
Leasing News received many compliments for its alerts and Bulletin Board Complaints. We have been requested to name the companies who do business with these companies and are exploring the possibility of using both UCC searches as well as contacting specific companies to confirm that they have done business with the companies named.
In most cases, it is public information, if a UCC is filed.
The story about Allied Health Care Services brought many requests to name the brokers who were referring the deals. Many questions regarding "reps and warrants." Actually, the banks and leasing companies involved have not made any public statements regarding this.
Many of the bank filings show the original contracts that were discounted to them by a source, some of them nine or ten transactions, several more than that, and that information is also public knowledge. Leasing News does not take a position on the liabilities or reputation of those who arranged Allied Health Care Services or Equipment Acquisition Resources and leaves the matter up to the creditors and their legal advisers.
Kit Menkin, editor
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Schwartz To Get Out of Jail: $2 Million Bail
Charles K. Schwartz, President of Allied Health Care Services, Orange, New Jersey Schwartz, was granted $2 million bail after his arrest last week by the Newark FBI in an alleged $87 million equipment- leasing fraud.
He has been in custody since last Thursday. Bail has been set at $2 million with the collateral to be real estate. As soon as he satisfies this condition, he will go on home detention with electronic monitoring. U.S. Magistrate Judge Madeline Cox Arleo in Newark federal court also ordered him to undergo mental-health treatment.
Meanwhile the Allied Chapter 7 Involuntary Bankruptcy proceedings in Newark, New Jersey appear to moving along in quite a fast speed. The 24 separate complaints were notified of the bankruptcy, with scheduled hearings mostly moved back to October, as objections to Charles K. Schwartz trustee appointment were heard and Schwartz's rebuttal. It appears appraiser, auctioneer, accountants, and attorney firm for the new trustee.
Creditors were able to obtain their choice of trustee over Schwartz's objection and his attorney’s original motion. Named was Eric R. Perkins, Esq., McElroy, Deutsch, Mulvaney & Carpenter, Ridgewood, New Jersey.
Mr. Perkins currently serves on the Panel of Chapter 7 Trustees for the United States Bankruptcy Court, District of New Jersey, Newark Vicinage, and has been a member for over ten years. Mr. Perkins has also received numerous appointments as a Chapter 11 Trustee. His Chapter 11 Trustee appointments have been in a wide array of industries and businesses including, but not limited to, the medical and dental fields.
FBI Legal Complaint:
Allied Trustee Appoint Notice:
Allied Trustee Appointment:
Trustee Opposition by Schwartz:
Why Non-Cancelable Leases
The history of why lease contracts are non-cancelable dates back to the introduction of the Investment Tax Credit (ITC) during the Kennedy administration in 1962. In those days 7% ITC was allowed to the first “user” of the asset; however the tax credit required a seven year ownership or a portion of the ITC must be returned in the next federal tax return. One of the ways to make sure the lease transaction lasted for the seven year requirement was to make it non-cancelable. The ITC was changed to 10% with a reduced vesting of five years as a result of the Economic Recovery Tax Act of 1981. That is why five year leases became the most popular lease term. It was then repealed in 1986.
The lease must quality as a true lease for federal income tax for the lessor to have the right to the ITC. The real question was; how to insure that if the lease transaction early terminated, the funds required to satisfy the lease balance, due to the return of a portion of the ITC, and the impact of the tax effect of accelerated depreciation, was high enough. A non-cancelable clause allowed the lessor the “right” to ask for the remaining lease payments or a reduced amount but greater than a standard payoff. An early termination did not require a return of the ITC if the lessor just took the equipment back with a termination charge but intended to release the equipment or store it until the full vesting term had expired.
Bargain option leasing or $1 out leasing began to use non-cancelable to protect the funding capabilities when interest rates began to have a lot of volatility. Leasing is a fixed rate transaction and when rates go down a lot of lessee’s preferred to refinance to obtain lower rates. Years ago lessor’s use to fund leases with a combination of variable rate funding and fixed rate funding to maximize margins. Then the volatility of rates forced everyone into match rate funding and primarily fixed rates. The non-cancelable provision protected the lessor by giving the lessor the right to require the remaining payments or a discounted payoff but it contained sufficient funds to cover the prepayment penalties imposed by funding sources.
In 1986 with the introduction of Article 2A for commercial equipment leasing the developers of this legal article searched for ways to separate leasing from lending and decided to make non-cancel clause part of the definition of an Article 2A legal lease. The following is a direct quote from the definition of a legal lease. However it is describing what makes a security agreement instead of a lease and must be read in the “negative”. Therefore, to not be a security agreement a legal lease needs to be non-cancelable.
Whether a transaction creates a lease or security interest is determined by the facts of each case; however, a transaction creates a security interest if the consideration the lessee is to pay to the lessor for the right to possession and use of the goods is an obligation for the term of the lease not subject to termination by the lessee,
The difference between a legal lease for Article 2A and Article 9 for a lease intended as a security has additional requirements but the non-cancelable clause is the first one on the list.
If you have a bargain option lease you do not qualify for federal income tax or Article 2A. Therefore, the only purpose for non-cancelable clause is to protect the lessor from early payoffs. Because of this many lessors ignore the non-cancelable clause, in the lease, unless it serves their current purpose.
I am sure that the non-cancelable clause will be in lease documents for a long time but it is beginning to be of less importance with the low rates we have today, but it may take on renewed importance as congress creates more incentive plans to get the economy moving.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at firstname.lastname@example.org or 502-649-0448
He invites your questions and queries.
Previous #102 Columns:
(This ad is a “trade” for the writing of this column. Opinions
Bank Beat—23rd Florida Bank Fails
The twenty-third bank to fail in Florida is Horizon Bank, located in Bradenton. The bank had 40 employees with two in Bradenton (first one opened 1999), one in Palmetto, and one in Brandon.
Bradenton is the largest Principal City of the Bradenton-Sarasota-Venice, Florida Metropolitan Statistical Area, which had a 2007 estimated population of 682,833. It is the county seat. The city had been hit considerably hard by the United States housing market correction.
The four branches were closed with Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits. This was the third purchase of a failed bank this year by Bank of the Ozarks, following Unity National Bank of Cartsville, Ga., which failed in March and Woodlands Bank of Bluffton, S.C., which was closed in July.
As of June 30, 2010, Horizon Bank had approximately $187.8 million in total assets and $164.6 million in total deposits. Net Equity had gone from $7.7 million in June 30, 2009 to $5.1 million June 30, 2010. Non-current loans were $14.2 million. The bank had lost $6.7 million the previous period and June 30, 2010 it has lost $1.7 million, after charging of $2 million in real estate loans ($1.3 in 1-4 multifamily homes). Tier 1 risk-based capital ratio: 1.87%
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.9 million.
It is the 119th bank to fail in the US this year, and the first since August 20th. The regulator reported 10 closures in August after a 2010 high of 22 in July. If you think the list is getting smaller because September was slow in bank closing, it is the opposite as more banks are listed on the trouble list.
List of Bank Failures
((Please Click on Bulletin Board to learn more information))
Leasing Industry Help Wanted
Please see our Job Wanted section for possible new employees.
CLP Spotlights Howard Krollfeifer, Jim Lahti
The September Certified Leasing Professional Circular features two members:
Mr. Krollfeifer is a Certified Lease Professional (CLP) and Executive Vice President of D&H Enterprises, Inc. a consulting, training and expert witness company for the equipment leasing and financing industry. He retired in 1999 as a Senior Vice President with Copelco Capital managing the Financial Intermediary Group and the Manufacturing Technology Division and was active in the leasing and financing industry since 1964. He was previously employed by AT&T Commercial Finance Corporation, Fleet Credit Corporation, ELLCO Leasing Corp., U.S. Leasing Corporation and Talcott National Corporation. Prior to joining the leasing industry, he was in asset based lending and factoring and with Arthur Andersen & Co. as a senior staff auditor.
He has a BA in finance and accounting from Fairleigh Dickinson University, a LL.B. from Blackstone School of Law and a certificate of completion in Leadership Development from Rutgers University and taught intermediate accounting at the university level for five (5) years. Since 1986 he has: served as Chairman or Member of the Equipment Leasing and Finance Association (ELFA) Credit and Collection Management Committee; worked on the task force preparing the Effective Credit Management Handbook was a primary contributor to ELFA's Detecting Leasing Fraud video program; and provided invaluable assistance in the preparation of ELFA's documentation video program Getting It Right. For the past ten (10) years he has been a senior instructor for ELFA's Principles of Leasing and Financing Workshops, Fundamentals of Credit and Collection Seminars. He previously served on ELFA's Middle Market Business Council and ELFA's Membership Committee.
An expert in equipment leasing credit analysis and decision-making, he worked closely with Moody's Risk Management Services exceptional training staff to modify their award-winning credit training program for bank loan officers. The result: ELFA's online, internet, inter-active credit training program entitled The Effective Credit Underwriter. He has served on the Board of Directors of public and private companies.
When asked what a perfect day would start with, he unhesitantly responded: "Making and having breakfast with Dee, my wife of twenty-six years."
After many years of involvement in soccer as a semi-pro and professional player, administrator (Regional Commissioner, Treasurer and Board of Directors) with the American Youth Soccer Organization (AYSO) and State, National and International (FIFA) referee, he was inducted into the AYSO and National Soccer Halls of Fame in 1997.
An Interview with James (Jim) R Lahti, CLP
How did you get your start in the leasing business?
After graduating from the University of Michigan in the 1974, not knowing what I wanted to be the rest of my life, I started selling stuff. First copiers, then other commercial equipment, then I decided to even get my real estate license. It became apparent that closing transactions was dependent on the financing. My wife and I moved to Dallas in 1980 with three other families to form an automated machine business. As the finance manager, I began to work with "leasing companies". When the new company realized inadequate market research I began looking for other opportunities and answered an ad for a leasing salesman for Security Pacific Bank's Dallas office. I was hired, and was soon transferred to San Francisco to become branch manager. My success here resulted in my promotion to National Sales Manager in San Diego where I was responsible for opening and managing eight offices around the country. In late 1985, we were purchasing a portfolio out of Dallas and I was offered a job to move back and open up a new leasing company. While I learned a tremendous amount at the bank, I was having difficulty with the "corporate environment" and thought this opportunity would more fit my entrepreneurial spirit. I moved back to Dallas to form the first Affiliated company working solely with lease brokers and have been a broker funding source now for more than 25 years.
What do you enjoy most about your work?
Every day is a new opportunity, a new challenge and there's always something different coming across your desk. I have always lived by the motto "find a job you love and you'll never work a day in your life". I have truly enjoyed my career in the leasing business and have always felt a desire to give something back by being actively involved in the leasing associations and the CLP program. After six years on the board of UAEL, one of my proudest accomplishments was to be part of the formation of the CLP Foundation and become its founding President. Although I have been through many cycles of this business and find the current environment to be the most challenging, I remain optimistic about the future. We have stayed with our core values and so far have the made necessary changes to adapt. I am blessed to have my two sons, Stephen and David, working with me to hopefully carry on a long and successful history of being "The Flexible Funding Source".
What does your perfect day start with?
I'd probably back up a little first and start with "what is the way to perfectly end your day" by answering: taking a sunset cruise in my 1952 wooden Chris Craft on beautiful Torch Lake in Northern Michigan. Then my perfect day would start with a cup of coffee on the deck at sunrise, overlooking this lake in the woods with the thought of thanking the good Lord that it's another great day to be vertical.
Would you like to share an interesting hobby or accomplishment?
My family and friends call me "Mr. Green Jeans" as I like fixing, repairing, creating and making things. I have always gotten satisfaction by making something better—by the challenge of not knowing how to necessarily do it, but try anyway and succeed. I have a great tool shop in my garage, complete with flat screen TV, where I spend a lot of time "putzing". I even recently built a small pub style table and bar stools in the garage so Lola, my bride of 35 years, can join me while I "whistle while I work".
A full copy of the CLP Circular with more information, particularly about the foundation:
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David G. Mayer's Business Leasing and Finance News is not included in the Alexa report list as it does not have its own individual site and Alexa finds Patton Boggs, LLP Attorneys at Law. The rating is not valid as it includes all those who visit and communicate with the law firm. When Business Leasing and Finance News has its own individual web site, it will be included in the Alexa survey.
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### Press Release ############################
Mintaka Signs Funding Agreement with Susquehanna
Gig Harbor, WA, Mintaka Financial LLC, announced the signing of a funding agreement with Susquehanna Commercial Finance, Inc. Mintaka specializes in providing equipment financing to small businesses across the United States. Susquehanna actively reviews and purchases portfolios of other companies with receivables that are consistent with its credit guidelines and provide a better diversity to its existing portfolio mix.
“Our agreement with Susquehanna will allow Mintaka to continue serving the credit needs of our small business customers, a key ingredient for continued economic recovery and new jobs growth across the US” said David T. Schaefer, president of Mintaka Financial, LLC.
“Susquehanna offers an extensive portfolio of financial products and services for small businesses, to provide maximum value to our customers. We believe the Mintaka business model is in harmony with this strategy and our overall mission to help small business customers achieve their financial goals, and to build the economic strength of local communities” said Frank Souder, Vice President of Acquisitions and Syndications with Susquehanna.
Susquehanna Commercial Finance, Inc., located in Pottstown, Pennsylvania, is a subsidiary of Susquehanna Bank, which operates more than 220 branch offices in the Mid-Atlantic region. The bank’s parent company, Susquehanna Bancshares, Inc. (NASDAQ:SUSQ), is a financial services holding company with assets of approximately $14 billion, headquartered in Lititz, Pennsylvania. More information on Susquehanna can be found at www.susquehanna.net.
Mintaka Financial, LLC, located in Gig Harbor WA, was established in December 2004 as a commercial finance company dedicated to serving the credit needs of small businesses across the United States. Mintaka finances equipment leases and loans which are originated through a limited group of independent small business finance companies that share ownership in Mintaka. These companies are specialists in small business credit service, selected for the Mintaka program based on their experience and reputation in the industry, and their dedication to building long term relationships with their small business clients. For more information regarding Mintaka, please call 888-705-8778, ext. 1097.
U.S. Retailers and Suppliers Remain Cautiously Optimistic
Capital Spending Focused on Technology and Efficiency Initiatives
More Than Two-Thirds Expect to Hire More Workers this Holiday Season
NEW YORK----Amid continued trepidation about the health of our nation’s economy, retailers and suppliers believe consumer spending is better than last year and gradually making a comeback. According to the second annual retail outlook study released Tuesday by CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, 65% of retailers and 69% of suppliers believe consumer spending may return to 2007 levels by the end of 2011.
“Some valuable lessons have been learned from the economic crisis and many suppliers believe they are better positioned for strong and sustained growth once the economy turns”
The research report, “U.S. Small Business and Middle Market Outlook 2010: Retailers and their Suppliers—Smarter. Leaner. Cautiously Optimistic,” prepared in association with Forbes Insights, examines how middle market retailers (those with annual revenues of $25 million to $1 billion), as well as suppliers and manufacturers (those with annual revenues from $2 million to $1 billion), have weathered the recession and gauges their outlook of the future.
"While the majority of retailers are cautiously optimistic about their future, more than two-thirds expect revenues to grow over the next 12 months,” said Burt Feinberg, Managing Director and Industry Group Head of Retail Finance at CIT. “The general consensus is that, having weathered the economic downturn, most retailers are in better shape today than in 2009 and have positioned themselves well to meet future consumer demand when it returns."
Since the market downturn, retailers and their suppliers have had to work smarter and operate more efficiently. They continue to maintain a conservative approach along the entire supply chain by conserving cash, paring down inventories, and keeping staff levels lean.
“Some valuable lessons have been learned from the economic crisis and many suppliers believe they are better positioned for strong and sustained growth once the economy turns,” said Jon Lucas, Executive Vice President and Chief Sales Officer of Trade Finance at CIT. “This study reveals an industry that is transforming, top to bottom.”
Retailers also had a positive view of the upcoming holiday season, with more than two-thirds (68%) of retailers planning to hire more seasonal workers than in 2009. In addition, 57% expect to stock more inventory than in 2009 and 69% say they will advertise more aggressively. However, 72% expect they will discount more this year than last.
Key findings from the report:
Middle market retailers remain cautiously optimistic and guarded in their outlook. Sixty percent of retailers say that, over the last 12 months, their revenues have grown (55%) or grown significantly (5%) and two-thirds expect revenues to be higher still in the coming 12 months. However, sales expectations may still be below the levels seen prior to the economic downturn.
Retail inventory levels are rising, but retailers are proceeding cautiously. Nearly 60% say their current inventory is higher than it was a year ago. At the same time, they’re quick to reduce prices to speed their inventory turns, and they’re using technology to track demand and purchasing more closely.
Retailers’ capital spending will concentrate on technology. Over the next 12 months, 83% of retailers expect investments in their Web sites to increase; 69% say they will increase investments in mobile applications; and 66% will increase spending for integration of in-store and technology-enabled channels.
Small and middle market suppliers show a similarly positive, but cautious, outlook. Seventy-four percent of suppliers anticipate growth over the next 12 months. Fifty-five percent will achieve and support this growth through new investment in product development, while 51% will put greater focus on operating efficiencies.
Suppliers continue to look for ways to manage their cash flow more effectively. While one-third say it is easier to manage their cash flow today than it was a year ago, 39% say it is harder. The number of suppliers indicating that they have begun to use factoring or credit insurance rose from 23% in 2009 to 35% in 2010.
Financing conditions for suppliers appear to be getting better. Two-thirds (67%) of survey participants say their ability to secure financing has improved over the past year. Additionally, nearly two-thirds of suppliers and manufacturers say they expect their financing needs to grow (40%) or significantly grow (23%) over the next 12 months.
About the Report
In the second survey, an additional 150 executives and financial decision makers at suppliers to the middle market retail sector were surveyed. Here, revenue ranges were from $2 million to $1 billion with 27% coming in at under $100 million. These suppliers represent a broad range of segments, including apparel and accessories, consumer electronics, house wares, footwear, home furnishings, and other suppliers. All those surveyed had senior-level titles (including CEO, COO, CFO, VP) and/or functional responsibility for a business unit or department. Nearly two-thirds were either a CEO or owner.
Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com
About Forbes Insights
Bank of the West – Equipment Finance Division Partners with
IDS’ Rapport Front Office Solution Delivers Improved Workflow in a Scalable Platform to Help Bank of the West Prepare for Future Growth
Minneapolis, MN —International Decision Systems® (IDS), the leading provider of asset finance software, announced that Bank of the West, one of the largest commercial banks in the western United States, has partnered with IDS to improve operational efficiency by implementing IDS’ industry-leading Rapport® front-office account management, origination and decisioning solution across multiple business lines in its Equipment Finance Division.
After evaluating several options, Bank of the West selected Rapport for its exceptional ease of integration with its existing back-end systems, its ability to deliver improved operational efficiency, and its comprehensive, fully-supported platform that relieves the IT burden imposed by maintaining the Equipment Finance Division’s legacy in-house systems.
“We are confident that IDS’ solutions will provide us with a platform that will improve workflow and reduce manual processes to enhance our operational efficiency,” said Jerry Newell, Executive Vice President, Equipment Finance Division, Bank of the West. “With its seamless integration with our existing systems, including compatibility with ongoing updates in our back-end systems, Rapport delivers the cutting-edge technology and flexibility we need to leverage future growth opportunities.”
Rapport provides complete, automated origination workflow systems to simplify front-end processes, shorten response time to improve customer satisfaction, and reduce the risk of errors by eliminating manual data entry with seamless integration to back-end databases. Customizable reporting and an easy-to-use dashboard user interface provide comprehensive account visibility in a single, consolidated view of customer and related-party risk by capturing delinquency and exposure from multiple back-office systems. The system also incorporates fast, reliable online integration with third-party systems, including credit bureaus, to further streamline decisioning.
In addition, Rapport supports vendor-side integration with a white-label website architecture that provides Bank of the West partners with direct online access to the bank’s Equipment Finance databases to view deal status and conduct portfolio analysis in real time.
“We are delighted to work with Bank of the West in delivering leading-edge account management systems to improve efficiency and provide the total portfolio visibility required to help them stay ahead of the competition,” said Tom Thomas, CEO of IDS. “By delivering a complete end-to-end front-office solution, Rapport provides a flexible, well-supported foundation that will enable Bank of the West to scale up quickly to meet evolving market demands.”
For more information about IDS’ finance origination and portfolio management solutions, visit www.idsgrp.com <http://www.idsgrp.com> .
International Decision Systems®, InfoLease®, Rapport®, and ProFinia® are registered trademarks of International Decision Systems, Inc.
About Bank of the West:
#### Press Release #############################
Ridgeway, New Jersey ---Adopt a Dog
This pet is up-to-date with routine shots.
Golden Hearts Dog Rescue
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World Trade Center---9/11/2010
I was in New York City on September 11, 2010. It was our fourth, perhaps fifth trip to the World Trade Center, as well as a visit to St. Patrick's Church, the first memorial location. New Yorkers don't seem to be as bothered as we are from out of the area about a Mosque nearby the World Trade Center. I was surprised by that. Perhaps the media has made it look more controversial.
I was told by many New Yorkers in their style of language the "Ground Zero Mosque" is not a mosque; it's an Islamic cultural center, with a swimming pool, art galleries, lecture rooms, performance halls, a special-needs center and a top-floor sanctuary. And it's not at Ground Zero. It's proposed to be built at a former Burlington Coat Factory, two and a half blocks away from the former World Trade Center - not visible from the site. I personally am not in favor of it, but was certainly the minority opinion from people I spoke with in New York from all walks of life.
Organized tours of the entire World Trade Center site are now available and we took an audio tour on Monday, which was not only very informational, but very emotional as well. There were people from all over the world taking the tour and to see the building going from the viewpoint of surrounding buildings and to learn more of the history very heartening. I strongly recommend every American take the tour. You won't forget it.
We had a person along with us who had never been to New York City, so we took her to all the tourist spots, bus ride, boat ride, Top of the Rock, FAO Schwartz, saw Memphis Blues, Matisse exhibit at MOMA, great restaurants such as 21 Club, Crimson, River Cafe for Sunday Brunch, Spice Market, to name just a few, and to say the least, New York is a great place to visit. Bring money.
Kit Menkin, editor
New Bank Rules Good for Everything—Except Bankers' Bonuses
Average U.S. credit score in August was 667
Banks bounce back, but can they handle next crisis?
Five Georgia banks behind on TARP
Big banks play key role in financing payday lenders
Shuffle Master Back on Track with Leasing
IFA Applauds Release of First "Census of Franchising"
Orix to Increase Assets Outside of Japan by $1.2 Billion, Targeting China
IBM rips HP's Hurd debacle
Apple to announce subscription plan for newspapers
Continental, United airlines agree to keep Cleveland Hopkins hub for at least five years
Dancing with the Stars—Obama/Palin
Singletary pledges to speed up play-calling (you gotta read this one to believe it)
Bill Clinton endorses Jerry Brown
San Bruno Gas Fire Photo's
Dan Berger: Now's the best time for wine touring
Choosing Wines at the Touch of a Screen
Twitter Harvest Up-Dates
2010 Harvest Begins in Champagne
US/International Wine Events
Leasing News Wine & Spirits Page
This Day in American History
1752 - A great hurricane produced a tide along the South Carolina coast which nearly inundated downtown Charleston. However, just before the tide reached the city, a shift in the wind caused the water level to drop five feet in ten minutes.
1903-Grand Ole Opry "King of Country Music,” often called the “Father of Country Music,” Roy Acuff was born at Maynardville, TN. Singer and fiddler Acuff (who was co-founder of Acuff-Rose Publishing Company, the leading publisher of country music) was a regular host on weekly Grand Ole Opry broadcasts. He frequently appeared at the Opry with his group, the Smoky Mountain Boys. In December of 1991 Acuff became the first living member elected to the Country Music Hall of Fame. Some of his more famous songs were "The Wabash Cannonball" (his theme song), "Pins and Needles (In My Heart)" and "Night Train to Memphis." Roy Acuff died Nov 23, 1992, at Nashville, TN.
A church bombing in Birmington, Alabama. left four young black girls dead. The attack on the 16th Street Baptist Church sparked further violence in the city, leaving two more dead and 19 injured. The same year, Eugene "Bull" Conner the Police Commissioner of Birmington, Alabama attacked peaceful non-violent black protesters with dogs and fire-hose. This televised action alerted the nation about the racial problems in the south After years of frustrating investigations and delays, a Klux Klux Klansman was finally charged with the bombing in 1977. Robert Chambliss, who was known as "Dynamite Bob," was convicted of murder in the bombing in 1977 and died in prison. Ex-Klansman Thomas Blanton Jr. was convicted of four counts of murder last year and was sentenced to life in prison. A fourth suspect, Herman Cash, died in 1994 without being charged. Cherry was supposed to have gone on trial with Blanton, but was ruled mentally incompetent to stand trial. After psychologists testified that Cherry was faking, the judge reversed himself and declared Cherry competent. He went to Bobby Frank Cherry, age 71, was found guilty.
The Night Game
by Robert Pinsky
Some of us believe
Shaped by ignorance,
I once thought most people were Italian,
Possibly I believed only gentiles
A night game, the silver potion
Never a player
But white the chalked-off lines
So ordinary and distinct,
The ball, a scintilla
Horsehide white: the color
"I could have." The mind. The black
On a blanket in the grass
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