Need Help on $1.00 Out Evergreen Clause IFC Credit

M&T Bank, Buffalo, New York was servicing a IFC Credit Corporation dba FIRSTCORP lease where the purchase option on the face of the contract was $1.00. Since August have been trying to reach someone about this.

The only response came from M&T Bank:

“Just a reminder that written notice of termination was to have been sent to IFC not more than 120 days and not less than 90 days prior to the scheduled termination of the lease. If notice was not given, the lease automatically renews on a month-to-month basis until terminated by written notice. IFC will be collecting any additional rentals from renewal as M&T only purchased the normal rental stream."

Leasing News and Doug Nealeigh, Managing Agent, Tolovana Inn Condominium Association have written IFC Credit Corporation; in addition Leasing News has sent emails and telephone attorneys and the trustee involved, but no response.

The lessee paid the dollar and attempted to inform the bank, but instead go this from M&T Bank:

This is not the first time this has happened, and Leasing News in the past has been able to work with the bank who was servicing the lease (a few complaints had "fair market value" from the bank, but the original documents were a $1.00 or 10% PUT.) This was not the case with M&T Bank.

Anyone who can help us on this, please contact me at 408-354-7967 or kitmenkin@leasingnews.org

M&T Bank and IFC Credit Evergreen $1.00 Lease
http://leasingnews.org/archives/Jul2011/7_22.htm#evergreen

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Classified Ads--- Asset Management/Controller/Credit

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

Santa Barbara CA (will relocate) Experienced Asset Manager of various portfolio's for a bank, broker and leasing company. Utilized specialized remarketing companies to maximize collateral values. Worked remote two years. geoff.taylor@verizon.net | Resume | Reference 1 | Reference 2

 

Chicago, IL experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating. Email: leasecontroller@comcast.net

Southeastern, MI Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate. Email: Leasebusiness@aol.com

Southern CA 20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant. Email: leasecfo@gmail.com

Credit and Collections Manager Seasoned Small ticket Credit Manager with remote office based out of Chicago, IL willing to relocate seeks challenging high volume challenging position. Wgriffith61@yahoo.com | Resume

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

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

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

Survey of Evergreen Clauses

Ben Bronston, Telecom Lawyer, active with the Telecom Association, has completed a 100 page collection of laws, legislation and cases regarding the enforceability of auto-renewal clauses, primarily for use in telecom contracts.

It also can be used for other industries, especially those in the consumer finance industry, as there are many restrictions and procedures in the various 50 states, as well as business restrictions outlined, too. It outlines the specific language and procedures that must be complied for work with consumers, as well as defense for lessor regarding Evergreen clauses. It may also give an indication by state of the degree that might apply in new legislation regarding business.

Product Description:
"There is no uniform legal precedent regarding the enforceability of automatic renewal clauses, this 50 state survey is a compilation of publicly available legislation, statutes and cases for each state that breaks down the laws relating to auto-renewal clauses and, in some cases, telecom contracts."

Titled "50 State Automatic Renewal Laws" it may be downloaded for $199.99 at http://telecomlawyer.net/?page_id=621

Ben Bronston Profile:
http://telecomlawyer.net/?page_id=5

Ben Bronston – Telecom Lawyer
Bronston Legal PLLC
6300 West Loop South, Suite 395
Houston, Texas 77401
713-778-1000 (main)
713-885-6210 (cell)
713-583-9720 (fax)
bbronston@telecomlawyer.net
www.telecomlawyer.net

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Where Am I Going to Go with This? Who will take it?
by Kit Menkin

This email question is sent to me often by brokers, lessors, discounters, other leasing companies, captive lessors, vendors, even bankers trying to help their leasing clients.

It’s no secret the small ticket independent broker (under $100,000, especially under $50,000) has been cut off, including those in business over ten years. The complaints about not having Marlin, Manifest, Navistar Pentech, older brokers mention Advanta, the Nevada Capital Werks, Colonial Pacific, GE Capital and real old brokers remember AT&T Capital, Budget Finance, Crocker, Denrich, Foothill Capital, Interlease, SHW Capital, and Wells Fargo Auto Center (the first bank to do small ticket equipment leasing for brokers). They want a “decent rate” to compete and have all types of equipment and situations they don’t know where to place. “Help me!” Sometimes I can. It’s getting harder and harder.

My first advice to the independent broker is to join the National Association of Equipment Leasing Brokers (NAELB). The resources, the weekly forums, the private forums, the camaraderie is amazing, especially for the membership price of $329. The products and discounts save this cost right away.

More important, you are getting help from colleagues, and have many resources available, including the “NAELB Broker Exchange,” where other brokers who have developed local or special sources will work out a commission to help put your specific deal together.

There is the education aspect, the networking aspect, and also the protection when dealing with an NAELB funder or broker. I can’t emphasize how important it is for the independent broker or discounter/lessor to join.
http://www.naelb.org/registernewmembers.cfm

I recommend to others they should join the associations who have their specialty, contacts, information, and other networking opportunities; many belong to several associations, and it depends on your budget:
http://www.leasingnews.org/associations.htm

I recommend to vendors, captive lessors, and others who ask to be very careful and not do business with companies who appear on the Leasing News Complaint Bulleting Board:
http://www.leasingnews.org/bulletin_board.htm

Often I am asked by vendors, “Will I get paid from this leasing company?” I give them my opinion. Sometimes they are a new to the industry or pretend they are a large company, claiming to be a “direct lender,” when they are not.

While the social networks, especially Linkedin.com have value, you don’t know who is really behind the name on the screen, or have their references or past or present history, thus the email to Leasing News: What do you know about this company?

I would like to close this column remembering the television series "Hill Street Blues," premiered January 15, 1981 and ran for seven seasons, with Sergeant Ezterhaus famous line, when he closed the roll call with his trademark refrain, "Let's be careful out there."

Funders Looking for New Broker Business
http://www.leasingnews.org/Funders_Only/New_Broker.htm

NAELB Broker Exchange Grows to 25 (not up-dated--but you
need to be a member to access, but here is info about site)
http://www.leasingnews.org/Pages/broker_exchange.html

All Leasing News Lists
http://www.leasingnews.org/All_Lists.htm

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#1 Individual Fund Raiser for Chris Walker Chicago Marathon

Hugh Swandel, The Alta Group, is participating for donations to help Chris Walker through cancer. Chris works for GreatAmerica Leasing, Cedar Rapids, Iowa, as well is the president of the Certified Leasing Professional Foundation and a director on the National Equipment Finance Association, well-known and well-liked.

Swandel is getting closer to his goal, and today is the #1 individual funder raiser for The Bank of America Chicago Marathon to be held Sunday, October 9, 2011

“The leasing community has responded tremendously over the past couple of weeks and we are now the Top Fundraisers at the Chicago Marathon. Chris Walker is an inspiration to everyone who knows! Your help has been critical in getting this far – Thank you

Hugh Swandel, The Alta Group

To View Hugh Swandel’s Donation Page:
http://main.acsevents.org/site/TR/DetermiNation/DNFY11IL?px=22131218&pg=personal&fr_id=35207#

More Information/Latest Information:
http://main.acsevents.org/site/TR/DetermiNation/DNFY11IL?px=22131218&pg=personal&fr_id=35207#

CLP Spotlight---Donna Wesemman, Susquehanna

An Interview with

Donna Wesemman, CLP
Susquehanna Bancshares, Inc.
Susquehanna Commercial Finance, Inc.

What is one of your favorite things about the equipment finance industry?

The diversity ... different people, different occupations but mainly the different industries. I have experienced the good, the bad and the ugly. I have learned what makes a company successful and what makes a company fail. With my learned experience, I have been able to help businesses put together successful business plans and watch them implement the plan and grow. I am able to identify signs of fraud (although I am still amazed at it). I learned collections, credit, documentation, and sales. I learned so much about so many different industries, from a Segway PT unit, to Reverse Osmosis equipment, material handling and construction equipment to machine tool and woodworking equipment, just to name a few. I actually know what an "edge-bander" and a "router" is and how all the above equipment is used in its related business. I enjoy spending time with vendors and end users learning their business and touring their operations

Can you tell us about your background in the industry?

I can’t say that when asked as a child what I wanted to be when I grew up, that the answer was “I want to be in equipment finance”. After all I was supposed to be a princess but since that didn’t happen I had to find another gig. I started my career in leasing and finance when I was a junior in high school (yes, 11th grade). I was looking for a part time job after work and the Catholic nuns at Hallahan High School sent me to work as a Girl Friday at a small independent leasing company in Center City Philadelphia called Commercial Leasing Company. I worked there part-time for 4 years while I went to school. I learned from the ground up ...

I left Commercial Leasing Company to help start up and serve for the next seven years as the Vice President of Citi Lease which was a captive finance arm for the largest Canon copier company on the east coast. This company later became the well known Canon Financial Services, Inc. located in New Jersey. I was a partner and Vice President in another copier captive organization as well as a lender in an asset based lending group for a major bank.

For the last 12 years, I have worked with Susquehanna Bank, in their commercial equipment finance division, Susquehanna Commercial Finance. I have held positions in Operations, Manager of our Broker Division and currently Vice President of Sales

What are some of the biggest challenges in your day?

Currently the biggest challenge of my day is time management. The recent downturn in the economy has brought with it many challenges but the biggest is providing the superior service that I have become accustomed to providing with a smaller staff. Our entire team has had to wear many hats and juggle many balls. However, 2011 is looking up as we have started adding staff again.

If you won 50 million dollars in the lottery, what would you do with the money?

First, I would make sure everyone in my family was financially taken care of. Then take a year vacation and travel. After that I would open a doggie day care, a senior dog care center & animal shelter and spend my days caring for and loving animals.

Riding on the wild side.

In the movie about your life, who would you cast to play you?

It would have to be Sandra Bullock. She is an independent women and her outlook on life, sense of humor and entrepreneurship spirit is how I see myself in my own life.

Would the movie be a drama, a comedy, a romantic-comedy, action film, or science fiction?

Definitely a romantic-comedy. My favorite Sandra Bullock movie was Miss Congeniality. I smile just thinking of her in that role. If you could be a super hero, what would be your super power and why?

Dynamic Donna would have the power to read people's mind. Just think of the fun you would have with THAT power. Of course, I would use it for good but come on; some bad would just have to pop in there. It would give me an advantage in all aspects of life, business and personal. Is that cheating????

If you could transport yourself anywhere instantly, where would you go and why?

Bora Bora in Tahiti, on a sail boat, on a clear crisp 88 degree day with the bluest skies and brightest sun with champagne, caviar, the love of my life, Bob and my puppy dog, Porche-'a! Why??? —WHY NOT!!

 

Valentine Day

Why Choose Advanced Property Tax Compliance?

Dedicated to the leasing industry click here to learn more. Hear What Our Clients say about us click here Gary DiLillo, President 216-658-5618 or gary@avptc.com

 

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Leasing Industry Help Wanted

Executive Director of Sales Laguna Hills, CA Base Salary, performance bonuses, sales overrides, full benefits Require excellent track record of integrity based performance with strong leadership skills for business development.  Manage existing sales force. Optimize diverse array of financial products and solutions. Execute sales enablement strategies. Trusted advisor on executive team.   “STRADA Capital has been raising the standard for excellence in financial solutions for over 10 years.  Our success stems from our unwavering commitment to our customer’s success” Brad Kissler, BKissler@stradacapital.com, 949-789-8850, ext.222 www.stradacapital.com

Top Commissions Paid To Top Guns Seeks success-minded independent sales contractors with 3+ yrs equipment finance/leasing sales experience to generate lower to middle market transactions under a very generous commission sharing plan. Please contact us for more details. Contact Scott Lesnettt, slesnett@midatlanticfinancial.com or Al Hosack, ahosack@midatlanticfinancial.com www.midatlanticfinancial.com MidAtlantic Financial, Inc., in business 21 years

Looking for seasoned sales professionals with 5+ years experience closing both Equipment Leasing Transactions and Merchant Cash Advance Transactions ---New leads daily generated through our marketing efforts, and call center. Base salary plus commission, includes daily abundance of marketing leads. West Los Angeles, CA Emma 310.447.3460 ext. 319 ecabildo@imcacapital.com imcacapital.com

 

Chief Credit Officer St. Cloud, Minnesota 10+ Years Exp. Key Management or lending role in leasing industry Click here for more information www.northlandcapital.com Our partners, Harvest Land Cooperative and its financial division AgQuest Financial, provides strength and resources that allow us to offer competitive rates and specialized service that comes from a small-company atmosphere.

 

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

Please see our Job Wanted section for possible new employees.

Help Wanted Web Ad New Programs

Classified Ad Section
(rotates chronological above headlines and
also appears in Classified Ad section.) *

15 days in a row:
$395 four lines (a space is a line)
($25 each additional line or space)

30 days in a row:
$595 four lines (a space is a line)
($40 each additional line or space)

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New Hires/ Promotions

Laura Bentley named Senior Director, Client Services, US Capital Corporation, Crystal Lake, Illinois. She joined the firm September 2007 as Director, Marketing Communications. Realtor Assistant, Re/Max Unlimited Northwest (March, 2004-June, 2006), Marketing and Personnel Manager, Family Alliance (2002-2004). Illinois State University BS, Public Relations (1995 – 2000)) Webster University.
http://www.linkedin.com/pub/laura-bentley/18/762/6bb

Tahir Baloch has been named marketing director for First National Capital Corporation, Foothill Ranch, California. Previously he was Chief Marketing Officer, Absolute Source (March, 2008-September, 2011), VP Marketing, C.A. Bancorp (August, 1989-February, 2008), Marketing Director, Amplicon (1989 2008). Pepperdine University, The George L. Graziadio School of Business and Management BS, Marketing and Business Management (1994 – 1996).
http://www.linkedin.com/pub/tahir-baloch/11/b58/963

Mike Burnham was named Consultant at First National Capital Corporation, Foothill Ranch, California. He retired after 38 years in the Equipment Leasing and Finance Industry. SVP, Credit and Operations, First National Capital (March, 205-August, 20110, VP, Operations/Sales Support Manager, Fifth Third Bank (August,2000-March, 2005), VP, International Commercial Leasing, AVCO Financial services (1997-2000), Manager, Diversified Industries Group, Vendor Finance, GE Capital (1985-1994)
http://www.linkedin.com/pub/mike-burnham/6/a16/676

Mark D. Casel appointed vice president, major programs, Key Equipment Finance, Superior Colorado. "In this role, Casel will manage Key Equipment Finance’s largest manufacturer alliance, Cisco Capital, ensuring continued delivery of outstanding service and support." He is located in the Dallas/Forth Worth area. He joined Key Equipment Finance June, 2011. Prior he was Vice-President, Business Development, GE Commercial Finance (April, 2009-Apri, 2011), Chief Marketing Officer, Office Imaging, GE Capital (January, 1987-April, 2009). University of Iowa - Henry B. Tippie College of Business (1983 – 1987)
http://www.linkedin.com/pub/mark-casel/7/445/27a

Ryan Dicken joins Union Leasing, Inc., Schaumburg, Illinois as Regional Sales Manager for the Midwest Region. Previously he was Vice-President, Business development, Donlen Corporation (February, 2010--June, 2011), Sr. FAS Account Manager, Donlen Corporation (February, 2007-February, 2010) Manager Enterprise Rent-a-Car (June, 2004-February, 2007), Sales Biggers Mitsubishi (200-2003).Eastern Illinois University Business and Finance (1994 – 1998).
http://www.linkedin.com/pub/ryan-dicken/13/588/334

Jeff Enoch has joined PNC Equipment Finance, Pittsburgh, Pennsylvania as vice-president of business development. “In this role, Enoch will be responsible for sales and business development with manufacturers, software providers and dealers across all industry types." He previously was Vice-President Sales, SG Equipment Finance, USA (November, 2008-August, 2011), Senior Vice-President, CIT Group (September, 2007-October, 2008), Vice President & Director, Key Equipment Finance (2006-2007), Vice President, Business development, De Lage Landen (2004-2006), National Sales manager, GE Capital Corporation (2001-2004), Vice President, Business Development, Deutsche Financial Services (1991-2001). The College of New Jersey (1975 – 1979), University of Bridgeport MBA, Marketing.
http://www.linkedin.com/pub/jeff-enoch/8/10a/9b5

Greg Kealey named Regional Manager at TD Equipment Finance, West Palm Beach, Florida. "He is a vice president responsible for meeting the equipment financing needs of TD Bank’s commercial, middle market, healthcare and municipal clients throughout south and central Florida." He joined TD Equipment June, 2011. Vice-President, SunTrust Equipment Finance * Leasing (January, 2005-June, 2011), Senior Manager, Business Development Bank of Canada (2003-2004), Regional Manager, Alter Moneta Equipment Finance, Division of National bank of Canada (2002-2003), Business Development Manager, ABM AMRO Leasing (LaSalle) (1997-2005), Account Manager, Commercial Banking, Bank of Montreal(1996-1997), Account Manager, Commercial Equipment Finance (CEF), GE Capital (1994-1996). BSc, Management Business Administration at University of North Carolina at Pembroke (1991-1994), McMaster University, Business Administration (1990-1991). Transferred to UNCP to continue studies and to play NCAA baseball. Activities and Societies: Jerry Carey Memorial Scholarship Winner, Wally Beavis Memorial Scholarship Winner Kenner Collegiate Athletic Booster Club Scholarship Winner, Ontario Scholar Award, McMaster University Football player (red-shirted due to injury). Kenner Collegiate (High School).Babson College - Franklin W. Olin Graduate School of Business MBA, Finance/Marketing (1982 – 1986), The University of Connecticut BS, Business Administration (1970 – 1974), Avon High School (1966 – 1970)
http://www.linkedin.com/pub/greg-kealey/9/776/3bb

James Motley has joined First National Capital Corporation, Foothill Ranch, California, as syndication manager. "Motley has more than 30 years of experience in managing commercial credit. Prior to joining FNCC, he worked with Wells Fargo Equipment Finance and California First National Bancorp."

Peter Pabon has been named vice-president of business development for PNC Equipment Finance, Pittsburgh, Pennsylvania. "In this role, Pabon will be responsible for developing new vendor relationships and programs." Prior he was Manager of Customer & Vendor Finance, Tellabs (May, 2009-September, 2011), Senior Vice-President Vendor Finance, Banc of America Leasing & Capital (2000-2008), National Accounts Manager, Mfg. Equipment Group, Associates Commercial Credit(1999-2000), Regional Manager, Central Region, Mitsui Vendor Leasing(1994-1999), Vice President-Tax Exempt Financing, Chicago Corporation (1990-1992), VP-Tax Leasing Specialist, First Chicago Leasing Corporation (1987-1989). Northern Illinois University - College of Business Bachelors of Science, Finance, Economics (1977 – 1981). http://www.linkedin.com/pub/peter-pabon/a/244/b78

Norm Stein has been hired as credit manager for BlueBridge Financial, LLC, Buffalo, New York. "He will manage small business equipment loan programs and Blue Bridge Financial's recently launched commercial titled vehicle program." He previously was portfolio manager for Evans National Bank. Prior he was with Cornerstone Community Federal Credit Union.
http://www.linkedin.com/pub/norm-stein/37/aa3/6b8

 

Managing Credit and Collections From a (Great) Distance

reprinted from:
Credit Today
www.creditToday.net

Communications technologies have made it feasible to distribute work responsibilities over vast distances. What about credit management responsibilities? Could you handle what you do from far away? This credit manager does, and she's found some significant advantages from doing so.

Sonya Griffin
Credit Manager, Petzl America

When Petzl America shipping staffers get to work at their Clearfield, Utah, distribution facility at 7:30 a.m., there are no delays getting credit approvals for orders that arrived after quitting time the day before. Credit Manager Sonya Griffin has already had two hours to review those orders, releasing those she can and contacting the customers on those she's had to hold up.

She has those two hours because she works at her home in Florida, two time zones to the east. It's an arrangement that helps the company keep its commitment to same-day shipping in the vast majority of orders, and it came about quite accidentally when her engineer husband was transferred to work at the Cape Canaveral Air Force Station in 2001.

Griffin had been with Petzl for five years at that point, and she took her job to Florida for what she expected to be a short time until the company hired a replacement. "It just works so well," she says now. "At first we did reviews every six months to see how it was going. We didn't want it to affect our customer base at all. We wanted to be fair to them."

As it's turned out, customers have no idea that she isn't at the Utah office, unless she's told them. All of her phone numbers are Utah-based and she accesses the main computer system at Utah. "The position really lends itself to being handled remotely," she says.

Her staff management responsibilities are limited. She has a dotted line management relationship with one staffer who works on receivables and makes collections calls. (Griffin is responsible for credit, collections and receivables.) "I don't manage her directly, but I give her directions for receivables and collections," she says.

Previously she did have one direct report, and at first she was very concerned about that situation. "Managing isn't easy, and managing off site is even harder," she says. "But he was the right type of individual. He'd worked in another department, and I knew his work ethic. I had no reservations about hiring and off-site managing him. I hated to see him leave but he went back to school. It's doable, but it all depends on the employee."

Back in Utah

Twice a year she goes back to Utah to attend a major trade show and work in the main office. In June she went back to conduct training sessions on resale certificates--sessions that showed 10 years of off-site work have done nothing to diminish her skills as a problem-solving manager, coordinating the roles of the various departments in the order-to-cash process.

Getting Resale Certificates Up to Speed

"We'd just kicked off a large project to make sure we have resale certificates for all of our customers in all of their locations that we're shipping to," she says. "That was spurred by an audit conducted by Utah and Washington. We'd heard a lot of other states were auditing, and we wanted to make sure were as compliant as we possibly could be."

The project was to review the certificates on file and to get current ones for those that have expired or had never been received. The biggest issue was existing customers that are adding locations. When a new customer is set up, a certificate is required before anything is shipped. It's part of the credit application process, which also requires customers to submit proof of insurance if they're buying personal protection equipment.

Adding Ship-Tos

"We're handling that very well with new accounts," she says. "But some established accounts may have started in one state and since then opened 10 more stores in other states. We've gotten those ship-tos added, but we haven't proactively obtained the resale certificates. That's a huge issue for us. We know we're not fully complaint, but we're determined that we will be if we're audited again."

Griffin's training session was with Customer Service. "They're our front line," she says. "They need to ask the customer for a resale certificate.

"Let's say, for example, that we have a customer who's faxed or emailed in a PO that calls for shipping to a new location that's not in the system. In the past, we'd just add that location. There were time constraints, and these things would just slip through. Now we've trained customer service people to determine when we need a resale certificate. It's always hard to train people to do something new, and it's still a very manual process. But it's working pretty well."

A resale certification is usually just one form, and most of the time customers realize they need to do fill it out. They say, "No problem, I'll fax it right over to you."

Griffin uses Credit Today's web page with links to all states' resale certificates to make sure the forms she is using and receiving are the most current. "It is also the quickest way to get to the proper website for exemption questions."

Misunderstandings

"We've seldom encountered anyone having no clue what we're talking about," she says. "The only times there are misunderstandings are when customers are not reselling. They're buying gear they're using in their own product and asking why they should have to pay a sales tax.

"I explain that this document covers any tax--sales, business or occupational. This forms tells us that, if they're responsible for any tax in their state, they will pay it and Petzl is not responsible. Once we tell them that, they understand and send it to us. Customers don't actually read these forms. I have to explain them to the customers and to our sales reps as well."

The training completed, she's glad to get back to Florida. "When I'm back in the Utah office, I don't get nearly as much done as I do here," she says. "The first day or two, I'm running into people, and there's all that small talk.”

People will ask her how she stays focused working at home. She admits that she did go out in the yard to see that last shuttle launch. But that was an exception. 'It's not in my work ethic," she says. "If I'm on the clock, I'm being paid to work."

copyright 2011 Credit Today, reprinted with permission:" www.CreditToday.net

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

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Beige Report--Loan Demand Weak/Credit Standards Tight

Banking and Financial Services

“Most Districts reported that loan demand was weak and that credit standards remained tight. New York, Philadelphia, Cleveland, Richmond, Kansas City, St. Louis, and San Francisco observed further weakening in loan demand across most categories. Dallas noted scattered reports of improvements in loan demand. Contacts in Cleveland, Chicago, and Dallas noted an increase in demand for auto loans. Credit standards ranged from unchanged to tighter in most Districts. However, Chicago reported that credit conditions and availability had improved.

“Mortgage activity declined modestly according to the Philadelphia, Cleveland, and Kansas City Districts, while Richmond reported increases attributed to improved demand for starter homes. Dallas noted an uptick in refinancing activity. Commercial and industrial lending declined in the Philadelphia and Kansas City regions, and was steady according to Richmond. The lack of available credit was cited as an issue for both residential and commercial contractors in Cleveland, and for commercial real estate borrowers in Atlanta. San Francisco reported an increase in venture capital investment.

“Further deterioration in credit quality was noted by Philadelphia, Richmond, Dallas, and San Francisco, whereas Cleveland observed some improvement in credit quality. Chicago also cited improvements in credit quality, apart from home equity and commercial real estate. Dallas and Chicago noted increases in consumer bankruptcies, while rising delinquency rates were reported by New York and Cleveland.”

Boston
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/1.htm

New York
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/2.htm

Philadelphia
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/3.htm

Cleveland
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/4.htm

Richmond
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/5.htm

Atlanta
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/6.htm

Chicago
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/7.htm

St. Louis
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/8.htm

Minneapolis
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/9.htm

Kansas City
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/10.htm

Dallas
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/11.htm

San Francisco
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/12.htm

Full report
www.federalreserve.gov/FOMC/BeigeBook/2009/20090909/FullReport.htm

John Kenny Receivables Management • End of Lease Negotiations & Enforcement • Fraud Investigations • Credit Investigations • Asset Searches • Skip-tracing • Third-party Commercial Collections john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

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

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

LCA Bank Corporation Receives $2.7 Million of Capital
From Small Business Lending Fund

Troy, Michigan and Park City, Utah – LCA Bank Corporation (the “Company”), the wholly owned subsidiary of Lease Corporation of America (LCA), of Troy, Michigan, announced that it has received an investment of $2.7 million in the Company’s preferred stock from the United States Department of the Treasury (the “Treasury”) under the Small Business Lending Fund (the “SBLF”). The SBLF, which is part of the Small Business Jobs Act of 2010, is a $30 billion voluntary program intended to encourage small business lending by providing capital to qualified community banks at favorable rates.

“As a strong financial institution, our Company has been chosen to participate in this important program. We are pleased to have completed the SBLF capital infusion in support of our small business lending operations,” commented John B. Kemp, Chairman of the Board of the Company.

“We believe our participation in the SBLF program is a great opportunity for the Company to continue to meet the credit needs of the small business community, and help the U.S. economy return to a path of sustainable growth.”

Mr. Kemp continued by saying that he wanted to thank “all of those who played a vital role in the satisfactory conclusion of this transaction. In particular we would like to thank our U.S. Congressman Gary C. Peters for his leadership role in Congress in the drafting and the approval of the SBLF which made all of this possible.”

Mr. Kemp further observed that “the Treasury and the regulatory agencies (Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation) worked extremely well with each other and were most helpful and responsive which allowed for the timely and successful conclusion of our transaction.”

LCA, founded in 1988, is a full service commercial leasing and finance company. It provides financing solutions for vendors of equipment, and funding for select lease originators while delivering quality financial assets to financial institutions and other investors throughout North America.

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

Somerset Capital Provides Lease for Sea Research Foundation

Milford, CT —Somerset Capital Group Ltd. along with one of our business partners, Empire Financial Funding, Inc., is pleased to announce a successful collaboration in a $428,000 financing mission critical equipment for Sea Research Foundation, Inc. dba Mystic Aquarium in Mystic, CT. Founded in 1973, Mystic Aquarium, a not-for-profit organization, serves the greater New England community and is one of Connecticut’s most popular destinations.

Evan Bokor, President and Chief Executive Officer of Somerset noted: “We are pleased to be able to leverage our broad financial resources to provide financing for such a high quality institution as Sea Research. This institution provides valuable educational services to the New England community and it is of particular importance to sustain it during the current challenging economic conditions. It is integral to Somerset’s success that we continue to support our local community when we have the opportunity to do so.”

Saul Levy, President of Empire Financial added, “We have come to rely on Somerset Capital as our most valued funding partner for a host of reasons: responsive customer service, flexibility in structuring workable options, capability to fund; to name just a few.”

About Sea Research Foundation, Inc.
Based in Mystic, Connecticut, Sea Research Foundation is a 501(c)3 nonprofit organization that operates Mystic Aquarium, Institute for Exploration and Immersion Learning. In partnership with National Geographic Society and the National Oceanic and Atmospheric Administration, Sea Research also manages The JASON Project. The mission of Sea Research is to inspire people to care for and protect our ocean planet through education, research and exploration. Learn more at www.searesearch.org

About Somerset Capital Group, Ltd.
Headquartered in Milford, CT, Somerset Capital was established in 1984 and offers equipment leasing, rental and asset management solutions tailored to the needs of its clients. Somerset Capital’s staff of dedicated professionals handles all aspects of client servicing with an emphasis on a personalized approach. This manner of business has been a hallmark of the company throughout its history. Somerset Capital’s primary operations are in the US with additional operations in Canada, Singapore and Taiwan.

About Empire Financial Funding, Inc.
Formed in 1996, Empire Financial is a general equipment leasing company headquartered in Randolph, NJ. Empire Financial provides financing for a wide variety of equipment types in a broad range of industries.

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

Jerry L. Jordan to Receive 2011 Distinguished Service Award

Washington, D.C., – The Equipment Leasing and Finance Association (ELFA) has selected Jerry Jordan, Executive Vice President at U.S. Bancorp Equipment Finance, to receive its 2011 Distinguished Service Award. The award honors individuals who have made significant contributions to the association and the equipment finance industry. Jordan will be formally recognized during a ceremony at ELFA’s 50th Annual Convention in San Antonio in October.

Jordan has been an active participant in ELFA for nearly two decades. During this time, he has served as a member and guiding force on the association’s Research Committee, which is charged with collecting and reporting industry trend data and performance metrics. He assumed the role of Research Committee Chairman in 2006, and his leadership has led to the enhanced interpretation, analysis and presentation of equipment finance resources for the benefit of the greater financing industry.

Jordan has contributed his expertise and insight to a number of ELFA research initiatives over the years, including the Survey of Equipment Finance Activity, the Monthly Leasing and Finance Index, now widely used by the industry as a key set of performance metrics and picked up routinely by the media, and the Propensity to Finance Study. He has also served as an information resource for ELFA members and other constituents regarding trends impacting the equipment leasing and finance industry.

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

Plano, Texas -- Adopt-a-Dog

Peanut

Pet ID: A086518
Corgi/Shetland Sheepdog Sheltie Mix
Medium size
Female
Spayed-UptoDate with Shots

Peanut is a loveable and friendly dog who was given up by her owner. She is so cute and so sweet! She is 10 years of age and ready for her forever home. She is crate trained and basically house trained. She is good with children but sometimes little ones can aggravate her so she may be best with older ones. Peanut is a doll! When inquiring about an animal, please be sure to use the animal identification number.

•972-769-4360
debbien@plano.gov

4028 West Plano Parkway (just West of Coit Rd.)
Plano, TX 75093.

The shelter is open Tuesday-Friday 9-6, Saturday and Sunday from 10-4. Visitations and adoptions end 15 minutes before closing. We are closed on Mondays.

ALL DOGS OVER 40 POUNDS ARE JUST $40!!

Adoption fee includes spay/neuter, worming, first dog or cat vaccination, bordetella vaccination, rabies vaccination, heartworm test for dogs if old enough, a microchip which includes the first year registration, a leash, a collar, a starter food packet including discount coupons AND discounted puppy or dog training classes. Since all animals must be spayed or neutered before they leave the shelter, all are indicated that they are spayed or neutered.

 

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

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

Fernando's View
By Fernando F. Croc

Suspense (“The Debt”) and laughs (“Our Idiot Brother”) await moviegoers, while DVD watchers can settle down with a one-of-a-kind Western (“Meek’s Cutoff”), a stylish rollercoaster ride (“Hanna”), and a re-issue of what is considered the greatest film ever (“Citizen Kane”).

In Theaters:

The Debit (Miramax Films): The past catches up hauntingly with the present in this dark drama, which combines the emotional heft of a historical tract with the twisty tension of a spy thriller. The story centers on Rachel Singer (Helen Mirren), a retired Mossad agent made famous by her tracking down of an old Nazi criminal 30 years ago. However, it seems that her mission is not over yet as mysterious events get Rachel reacquainted with fellow agents Stephan (Tom Wilkinson) and David (Ciaran Hinds) and, possibly, even the notorious war criminal who first brought them together. Alternating between present and their assignment decades earlier (with Jessica Chastain, Marton Csokas and Sam Worthington playing the younger characters), director John Madden (“Shakespeare in Love”) weaves a story that’s both thoughtful and satisfyingly edge-of-your-seat.

Our Idiot Brother (The Weinstein Company): Continuing his run of endearing slackers and hipsters, Paul Rudd gets another enjoyable showcase in this warm comedy about family relations and personal growth. Rudd plays Ned, who leads an uncomplicated life in a farm with his girlfriend and dog. When a series of comic circumstances land him in jail, however, he finds himself shacking with his three sisters, Natalie (Zooey Deschanel), Liz (Emily Mortimer) and Miranda (Elizabeth Banks). While still deep inside his bubble of mellowness, Ned becomes aware of each sister’s emotional crisis, and tries to become closer to them. Can he overcome his huddles and prove that he’s not such an idiot after all? With a terrific cast and gentle, character-based humor, the film supplies a welcome contrast to the season’s raunchier comedies.

Netflix Tip: The recent death of Raoul Ruiz (1941-2011) came as a shock to buffs who treasured the prolific Chilean director’s highly eccentric tales. In tribute, visit Netflix for his masterfully original, marvelously cinematic riddles, ranging from “Hypothesis of the Stolen Painting” (1979) and “Genealogies of a Crime” (1997) to “Time Regained” (1999) and “Mysteries of Lisbon” (2010).

On DVD:

Meek’s Cutoff (Oscilloscope Films): Talented director Kelly Reichardt follows her acclaimed “Wendy and Lucy” with this remarkable Western saga, set in 1845. The story follows a group of settlers who, taking the wrongheaded lead of trail guide Stephen Meek (Bruce Greenwood), end up separated from their caravan and lost in the Oregon desert. Things become more complicated when they come upon an enigmatic Cayuse native (Rod Rondeaux), who’s forced to follow them as they push through unknown territory and Emily (Michelle Williams), the most headstrong of the group’s pioneer women, takes charged of the situation. Can they find the way back home, or will their journey continue going in circles? Working with an exceptional cast that also includes Paul Dano and Will Patton, Reichardt envisions an Old West that’s both naturalistic and stylized, and utterly unforgettable.

Hanna (Universal): After winning critical raves (and Oscar nominations) a few years back in “Atonement,” director Joe Wright and young actress Saoirse Ronan team up again for this rollicking, gleefully stylized thriller. Ronan plays the eponymous Hanna, a teenage girl whose inhuman powers belie her seemingly fragile appearance. After years living together with her father (Eric Bana) in isolated European woods, she finds herself on the run from a shadowy group led by the sinister Marissa (Cate Blanchett). As she makes her way across the continent and befriends a family of tourists, Hanna is plagued by questions that turn disturbingly clear as she gets closer to Marissa. Paced like a rocket and brimming with eye-catching effects, this is a breathless thrill-ride that cements Ronan’s standing as one of today’s most interesting young actresses.

Citizen Kane (Warner Bros.): What’s it like to direct what is arguably viewed as the greatest film of all time at the tender age of 25? Surely Orson Welles was asked that question many times after his magnificent 1941 debut, a landmark movie that’s stayed fresh and thrilling even seven decades after its release. Welles stars as Charles Foster Kane, an all-powerful newspaper tycoon whose sprawling, eventful life comes under scrutiny after he emits one mysterious word (“Rosebud”) upon his deathbed. What does the word mean? As we witness testimonies of his family members, friends and enemies, we savor a young filmmaker’s contagious delight in putting his visions on the screen. Whether you’ve memorized every camera movement or are seeing it for the first time, this all-time classic’s release on Blu-Ray is cause for celebration.

News Briefs---

Texas fires: 1,000 homes destroyed, 5,000 evacuate
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/07/MNBS1L0O5M.DTL

Bartz Could Get About $10 Million in Compensation After Firing
http://sfgate.bdc.bloomberg.wallst.com/SFChronicle/Story?docId=1376-LR6KN40UQVI901-36QS7TU4OKG8UMVAQ8BVTMA2HN

Depping's New Company to Hire 500 next five years
http://www.chron.com/neighborhood/katy-news/article/New-lender-provides-small-business-loans-2159068.php

Ex-Citigroup VP Pleads Guilty to $22MM Bank Fraud
http://online.wsj.com/article/SB10001424053111904537404576554712656964724.html

Costco Projects Global Beverage Alcohol Sales Of $2.5 Billion
http://leasingnews.org/PDF/CostcoProjects.pdf

NBC’s Andrea Mitchell: I have breast cancer
http://news.yahoo.com/blogs/cutline/nbc-andrea-mitchell-breast-cancer-191413850.html

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

You May Have Missed---

Hospitals new No. 1 industry in S.F., report shows
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/07/BAIT1KV88G.DTL

 

Sports Briefs----

Top 25 College Team as of this week
http://latimesblogs.latimes.com/sports_blog/2011/09/college-football-rankings-usc-ap-top-25.html

Rumor: Peyton Manning Done For The Year?
http://chicago.cbslocal.com/2011/09/07/rumor-peyton-manning-done-for-the-year/

2011 NFL season preview
http://www.contracostatimes.com/other-sports/ci_18845368?nclick_check=1

The Huddle
http://content.usatoday.com/communities/thehuddle/index

 

 

"Gimme that wine"---

Why I No Longer Buy Expensive Wine
http://www.winespectator.com/webfeature/show/id/45640

Screw caps make more inroads
http://www.washingtonpost.com/lifestyle/food/wine-screw-caps-make-more-inroads/2011/08/28/gIQAuC7B7J_story.html

Bordeaux 2011: Pauillac, St Estephe harvest begins
http://www.decanter.com/news/wine-news/529255/bordeaux-2011-pauillac-st-estephe-harvest-begins

11 New Masters of Wine Announced
http://www.mastersofwine.org/en/news/index.cfm/id/B66A4C2B-C36C-4EC8-9DB44800C896F55E

Coolest Rail Cars Carry Wine
http://www.winesandvines.com/template.cfm?section=news&content=92017&
htitle=Coolest%20Rail%20Cars%20Carry%20Wine&

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

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

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

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

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

     70--- Following a six-month siege, Jerusalem surrendered to the 60,000 troops of Titus' Roman army. Over a million Jewish citizens perished in the siege and, following the city's capture, another 97,000 were sold into slavery. Today others say the Jews have no right to belong in Israel. Nothing much has changed, then?
    1522 -- The Victoria is the first ship ever to encircle the globe. It reached port without its captain, Magellan, who died en route in the Philippines. One of Ferdinand Magellan's five ships returns to Spain, thus completing the first successful circumnavigation of the world. Magellan, a Portuguese navigator employed by Spain, set out from Seville three years ago with 265 men. Only 15 survived the journey. Magellan himself was killed after making a local chief in a Christian and then to prove the authority of Spain, attacked the chief adversary, but in waters that did not allow his ship to get close enough to shore to fire cannons, and the men were attacked in hand combat in shallow waters, with Magellan being http://www.eyewitnesstohistory.com/magellan.htm
    1565 - Spanish explorers led by Pedro Menendez de Aviles founded St. Augustine in Florida, the first permanent European settlement in North America. St. Augustine was founded 42 years before the English settlement of Jamestown in Virginia.
    1636--- Harvard College (later University) was founded by the Massachusetts Puritans at New Towne. It was the first institution of higher learning established in North America, and was originally founded to train future ministers. Harvard College was established in 1636 by vote of the Great and General Court of the Massachusetts Bay Colony and was named for its first benefactor, John Harvard of Charlestown, a young minister who, upon his death in 1638, left his library and half his estate to the new institution. Harvard's first scholarship fund was created in 1643 with a gift from Ann Radcliffe, Lady
    1644 - The settlement of New Amsterdam was seized from Dutch governor Peter Stuyvesant by the English under Colonel Richard Nicholls without a shot being fired. It was later renamed New York after James, Duke of York, the future King James II.
    1755 - In the Seven Years War in North America, Col. William Johnson with his English militia defeated a combined French and Indian force in the Battle of Lake George.
    1760 - British troops under Jeffrey Amherst defeated the French in the Battle of Montreal; after the loss, the French surrendered their arms throughout Canada.
    1771 --Mission San Gabriel Archangel forms in California.
http://www.californiamissions.com/cahistory/sangabriel.html
    1781-- The American Revolutionary War was going badly for the freedom fighters as New London, Connecticut was looted and partially burned by British Troops under Gen. Benedict Arnold, who had joined the British. He also captured Fork Griswold at Groton across the Thames River. Benedict Arnold reportedly treated American soldiers with unnecessary brutality. The loyalist thought they could win the war. Another factor for Arnold was not only the money for his young wife, but the fact he hated the French, and their coming to the ad of the new colony was more than he could take, he said. But it was really the money he was after.
    1847 - Americans under Gen. Winfield Scott defeated the Mexicans at the Battle of Molino del Rey in the Mexican War.
    1852--- at the personal invitation of Elizabeth Cady Stanton, Susan B. Anthony attended her first woman's rights convention, the three-day Syracuse Convention. It was the third national woman's rights convention. Anthony then spent her entire life traveling and speaking on behalf of women's rights.
    1866 - In Chicago, Illinois, James and Jennie Bushnell became the parents of sextuplets when their three boys and three girls were born. Two of the babies died, but the surviving four lived long lives. This was the first birth of sextuplets recorded.
    1883 -- Sitting Bull, main chief of the Sioux tribes, delivers a speech insulting & making fools of US authorities to great applause. Sitting Bull (Tatanka Iyotake), whose position was being bypassed by US authorities because he firmly stood against the robbery of the native peoples, spoke at the celebration of the driving of the last spike in the Northern Pacific railroad joining with the transcontinental system. He delivered the speech in his Sioux language, departing from a speech originally prepared with an army translator. Denouncing the US government, settlers and army, the listeners thought he was delivering a speech of welcome and praise. While giving the speech Sitting Bull paused for applause periodically, bowed, smiled and continued insulting and making asses of the audience & US authorities as the translator delivered the original address.
    1883 - The Northern Pacific Railroad across the U.S. was completed.
    1892 - Written by Francis Bellamy, the original "Pledge of Allegiance" was first published in an issue of The Youth's Companion in Boston.
    1897 -- Birthday of American folksinger Jimmie Rodgers lives, born Meridian, Mississippi. Died New York, New York, May 26, 1933. He is often called the "father of country music."
http://www.southernmusic.net/jimmierodgers.htm
    1900 - Galveston, Texas was hit by the worst hurricane in United States history. Twenty-three foot waves and winds up to 135 miles per hour killed 6,000 people. The storm lasted for 18 hours. The city, on an island connected to the mainland by a 2-mile long causeway, had to be rebuilt. When the renovations were completed, Galveston was raised 15 feet above its old level and a new sea wall was built six feet higher than the former high-water mark.
http://memory.loc.gov/ammem/today/sep08.html
    1903-The American Federation of Labor granted a charter to the granite quarry workers of Barre, Vermont. To document the lives of workers whose union standards outpaced the nations, writers from the Federal Writers' Project interviewed Barre quarrymen in the early 1940s. Many of these interviews are in the American Memory collection American Life Histories, 1936-1940.
(lower half of http://memory.loc.gov/ammem/today/sep08.html )
    1911 -- Naturalist Euell Gibbons born in Clarksville, Texas, died December 29, 1975. Perhaps his appearances on the Johnny Carson shows started a healthy food eating craze. The Post Grape Nuts cereal advertising quote "Ever eat a pine tree? Many parts are edible." is attributed to him (and inspired Carson to joke about sending him a "lumber-gram"). Ironically he died from a heart attack, most likely brought on as a result of smoking cigarettes, the saturated fats he added to his wild food diet, and a lack of exercise in his later, declining years.
http://www.tsha.utexas.edu/handbook/online/articles/GG/fgi38.html
    1921-Margaret Gorman of Washington, DC, was crowned the first Miss America at the end of a two-day pageant at Atlantic City, NJ. The sixteen-year-old schoolgirl was a dead ringer for reigning matinee superstar, Mary Pickford. Gorman continued to compete in later years, and though unsuccessful, was always a favorite of the crowds. A few years later, she married Victor Cahill, and was happily married until he died in 1957. She lived all her life in D.C., but enjoyed traveling. She died in October 1995.
http://www.missamerica.org/our-miss-americas/1920/1921.asp
http://www.missamerica.org/our-miss-americas/1920/review.asp
    1922- Comedian Sid Caesar birthday. While Milton Berl was considered
“Mr. Television” in the 1950's, it was Caesar “Show of Shows” that really cracked this teenager up. My father was a personal friend of the director, and also good friends of two of the characters in the series, and we would visit the set. Caesar was always very serious in person, but there was electricity in the live performance that made all ages laugh.
His show was the "must see" every Saturday night for four years ((112 episodes, 1950-1954)), Caesar's Hour 1954-1957. 1958 Sid Caesar invites. Known for deviating from the script, more a "comedy character" than one liners, he was very unsure of himself behind the scenes. He has appeared in many movies and TV shows, as well as Las Vegas. My father knew him and many of the writers, as Carl Reiner and Howie Morris were close friends of his. My father could imitate Caesar 100%. My father was an early television writer/producer in New York before networks. He produced the first network show for NBC, but is perhaps best known as the creator/writer of "Captain Video," "Harlem Detective (black and white cop in 1951" and "Hands of Mystery."
http://www.museum.tv/archives/etv/C/htmlC/caesarsid/caesarsid.htm\
http://www.imdb.com/name/nm0128377/
http://www.sidcaesar.com/
    1923-Birthday of bass player Wilbur Ware, Chicago, Il, perhaps best known among hard bop bass players, heroin took him down.
http://www.harlem.org/people/ware.html
http://www.vh1.com/artists/az/ware_wilbur/bio.jhtmlc
    1932-Birthday of Patsy Cline, country and western singer, born Virginia Patterson Hensley in Winchester, Va. Patsy Cline got her big break in 1957 when she won an Arthur Godfrey Talent Scout show, singing “Walking After Midnight.” Her career took off and she became a featured singer at the Grand Ole Opry, attaining the rank of top female country singer. She died in a plane crash March 6, 1963, at Camden, TN, along with singers Hawksaw Hawkins and Cowboy Copas.
    1935 - The Hoboken Four, featuring lead signer Frank Sinatra, appeared on WOR radio's "Major Bowes Amateur Hour". The group won the contest held at the Capitol Theatre in New York City.
    1935 - Louisiana Senator Huey P. Long was shot while attending a session of the state House of Representatives in Baton Rouge. Fatally wounded, he died two days later.
    1941 - In World War II, the blockade of Leningrad began as the German army encircled the city, cutting it off from the rest of the country. The siege lasted until January 1944 with nearly 1 million civilians being killed.
    1941 - For Columbia Records, Harry James and his orchestra recorded "Miserlou".
    1943 - United States General Dwight D. Eisenhower announced the unconditional surrender of Italy in World War II.
    1944---*PRUSSMAN, ERNEST W. Medal of Honor
Rank and organization: Private First Class, U.S. Army, 13th Infantry, 8th Infantry Division. Place and date: Near Les Coates, Brittany, France, 8 September 1944. Entered service at: Brighton, Mass. Birth: Baltimore, Md. G.O. No.: 31, 17 April 1945. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty on 8 September 1944, near Les Coates, Brittany, France. When the advance of the flank companies of 2 battalions was halted by intense enemy mortar, machinegun, and sniper fire from a fortified position on his left, Pfc. Prussman maneuvered his squad to assault the enemy fortifications. Hurdling a hedgerow, he came upon 2 enemy riflemen whom he disarmed. After leading his squad across an open field to the next hedgerow, he advanced to a machinegun position, destroyed the gun, captured its crew and 2 riflemen. Again advancing ahead of his squad in the assault, he was mortally wounded by an enemy rifleman, but as he fell to the ground he threw a handgrenade, killing his opponent. His superb leadership and heroic action at the cost of his life so demoralized the enemy that resistance at this point collapsed, permitting the 2 battalions to continue their advance.
    1945 - Bess Myerson of New York was crowned Miss America. She was the first Jewish contestant to win the title.
    1950---Top Hits
Mona Lisa - Nat King Cole
Play a Simple Melody - Bing Crosby
Goodnight Irene - The Weavers
Goodnight Irene - Red Foley-Ernest Tubb
    1952-- Ernest Hemingway's "Old Man & the Sea" published. It is his last work. It was for this work that he received the Nobel Prize in Literature.
http://www.ernest.hemingway.com/oldman.htm
http://www.hemingwayhome.com/HTML/main_menu.html
    1952 - No. 1 Billboard Pop Hit: "You Belong to Me," Jo Stafford.
    1954-Radio personality Alan Freed begins broadcasting on New York's WINS at an annual salary of $75,000. Although the phrase "rock and roll" had been around for a while, Freed is generally given credit for making it popular.
    1955 - The Brooklyn Dodgers won the National League pennant in the earliest time a team had done so.
    1955--Birthday of composer Daniel Palkowski, Oak Ridge, Tenn.
    1956 Harry Belafonte's album "Calypso," goes to #1 & stays #1 for 31 weeks
    1956-Eddie Cochran signs with Liberty Records where he will have three US Top 40 hits, "Sittin' In The Balcony" (#18), "Summertime Blues" (#8) and "C'mon Everybody" (#35).
    1958 - Roberto Clemente of the Pittsburgh Pirates tied a major-league baseball record by hitting three triples. Clemente led the Bucs to a 4-1 win over the Cincinnati Reds.
    1958 - The International Olympic Committee barred Communist China from the 1960 Olympic Games.
    1958---Top Hits
Nel Blu Dipinto Di Blu (Volare) - Domenico Modugno
Little Star - The Elegants
Patricia - Perez Prado
Bird Dog - The Everly Brothers
    1962-The novelty song "Monster Mash" by Bobby "Boris" Pickett enters the Hot 100 at #85. It's a tongue in cheek take-off on the late night monster movies. He recorded it with sound effects: the creaky door opening is a nail being pulled from a piece of wood, the boiling cauldron is Pickett blowing bubbles into a cup of water with a straw and the chains are him moving chains up and down. He also did all the voices. The song will make it to Number One for two wee
    1965 -Hurricane Betsy kills 75 in Louisiana & Florida.
http://www.answers.com/topic/hurricane-betsy
    1965 - Bert Campaneris of the Kansas City Athletics played all nine positions as his team lost to the California Angels, 5-3 in 13 innings. He gave up one run while pitching.
    1965 - An ad in a Hollywood newspaper on this date requested four "insane boys, ages 17-21" to act in a television series about a rock and roll band. More than 400 hopefuls auditioned and those selected to be The Monkees were Micky Dolenz, Davy Jones, Mike Nesmith, and Peter Tork. The show, The Monkees, was the brainchild of producers Bert Schneider and Robert Rafelson. Within the year following the show's premiere, the four young men became international prime time pop stars.
    1966- The first of 79 episodes of the TV series "Star Trek" was aired on the NBC network. “Beam me up, Scotty.” Perhaps the first cell phone was introduced
and the first kiss between a black woman and a man on television, along with many other innovative and comical episodes.
    1966-“Tarzan” premiered on TV. This hour adventure series was based on Edgar Ritch Burroughs's character, who appeared for the first time on TV. Tarzan, an English lord who preferred the jungle, was played by Ron Ely,. Manuel Padilla, Jr. was Jai, a jungle orphan. Alan Caillou was Jason Flood, Jai's tutor, and Rockne Tarkington was Rao, a veterinarian. There was no Jane.
    1966—“That Girl: premiered on TV, a half-hour sitcom starring Marlo Thomas. Ted Bessell also starred as her boyfriend Don Hollinger. They were finally engaged in 1970. Also featured were Lew Parker, Rosemary De Camp and Bonnie Scott. Well-known performers who appeared on the show included Cabeny Coleman, George Carlin and Bernie Kopell.
    1966---Top Hits
Sunshine Superman - Donovan
See You in September - The Happenings
You Can't Hurry Love - The Supremes
Almost Persuaded - David Houston
    1973--Marvin Gaye enjoyed his second #1 hit on the Billboard Pop chart with "Let's Get It On". He would place 7 more records on the list by 1982, giving him a total of 40.
    1973 - Hank Aaron got home run #709 went into the record books. The Atlanta batter set a major league baseball record for most home runs hit in one league. In 1974, Aaron decimated Babe Ruth's record of 714 homers.
    1974 - In a controversial move, US President Gerald R. Ford pardoned former President Richard M. Nixon for any crimes he "committed or may have committed" while in office. Ford defended his decision by explaining that he wanted to end the national divisions created by the Watergate Affair. The American Public thought it was a “pay off.” Ford was the only president not nominated for the office, taking over the vice-presidency after Spiro Agnew resigned.
    1974- Richard Nixon was give " full, free, and absolute pardon, for all offenses against the United States which he, Richard Nixon, has committed or may have committed or taken part during the period from January 20, 1969 through August 9, 1974."
    1974 - No. 1 Billboard Pop Hit: "I Shot the Sheriff," Eric Clapton. The song is a remake of Jamaican Bob Marley's reggae version.
    1974---Top Hits
(You're) Having My Baby - Paul Anka
I Shot the Sheriff - Eric Clapton
Tell Me Something Good - Rufus
Please Don't Tell Me How the Story Ends - Ronnie Milsap
    1976-Disco band Wild Cherry's self-titled album, which includes their Number One single, "Play that Funky Music," goes gold.
    1976-The debut album by Vancouver band rock band Heart, "Dreamboat Annie" goes gold. The album contains "Magic Man" (a #9 hit) and "Crazy on You."
    1982---Top Hits
Abracadabra - The Steve Miller Band
Hard to Say I'm Sorry - Chicago
Hold Me - Fleetwood Mac
Love Will Turn You Around - Kenny Rogers
    1986-“The Ophrah Winfrey Show” premiered on TV. This daytime talk show as the top rated talk show for years and also has the distinction of being the first talk show hosted by a black woman, Ophrah Winfrey. Her show is taped in front of a studio audience who are solicited for their questions and feedback. In the mid-199s, fed up with the plethora of trashy talk shows that had sprung up everywhere, Winfrey decided to upgrade the quality of topics that her show presented. Her book club feature has been a popular element of her show, and chosen books usually become best seller.
    1987 - Thunderstorms produce 4-8 inches of rain in 3 to 6 hours in Virginia bringing the totals for the Labor Day weekend up to 14 inches. The Staunton River crested at 34.44 feet at Altavista, its highest level in 47 years with flood damage estimated at 47 million
    1987-at Miami the mercury soars to 97 setting a record for the date and month.
    1990---Top Hits
Blaze of Glory - Jon Bon Jovi
Release Me - Wilson Phillips
Do Me! - Bell Biv DeVoe
Jukebox in My Mind - Alabama
    1998- Mark McGwire of the St. Louis Cardinals hit his 62nd home run, breaking Roger Maris's 1961 record for the most home runs in a single season. McGwire hit his homer at Busch Stadium at St. Louis against pitcher Steve Trachsel of Chicago Cubs as the Cardinals won 6-3. McGwire finished the season with 70 home runs.
    2002-Pop Zhao, a SF artist, organized volunteers to drape 3 miles of US flags along the SF coastline in an artistic display of patriotism, remembrance and strength.
    2003 - With four honors, Shania Twain is the big winner at the Canadian Country Music Awards, presented at the Pengrowth Saddledome in Calgary, Alberta. Twain wins for top female, top album and top-selling album for "Up!" (Mercury Nashville) and top video for "I'm Gonna Getcha Good!"