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Monday, September 11, 2006
Headlines--- Welcome New Readers ######## surrounding the article denotes it is a “press release”
------------------------------------------------------------------- Welcome New Readers
While most who read Leasing News go to the web site first, many still join our mailing list. Our goal is to print daily from Monday to Friday, but most often it is only three times a week, so when you are on the mailing list, you are informed that the new edition is available. We go to “press” when we think there is enough equipment leasing news to do so. Readers on our mailing list also get notices of major events from time to time. We welcome the new readers and hope you enjoy and find informative Leasing News. Subscription is free. Please ask a colleague to subscribe. kitmenkin@leasingnews.org ---------------------------------------------------------------- Classified Ads---Sales Managers
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June 30, 2006 52 days ended interim statement: ---------------------------------------------------------------- NAELB Western Regional Meeting By Robert Teichman, CLP
On September 8 and 9, 2006, some 170 brokers, lessors, funders and service providers met at the Wyndham Hotel in Costa Mesa, California for the Western Regional Meeting of the National Association of Equipment Leasing Brokers. They enjoyed good food, good weather and good networking, while attending a well-organized series of exhibits and educational events. The Meeting was one of two regional events that the Association holds, usually in the fall of the year. The next Meeting will be held in Atlanta, GA on November 3 and 4, 2006. The Costa Mesa event opened with a Hawaiian-themed reception on Friday night. Attendees were asked to dress accordingly, and there were some very brightly-colored shirts and even a few grass skirts. A limbo contest separated the supple from the creaky; one winner attributed his success to recently having taken up yoga. Saturday morning started with meetings with exhibitors. There were 35 funders and service providers who came from every corner of the country; from Washington State to New York and from California to Florida. After the booths closed and after an excellent lunch, attendees met at a series of roundtables and discussed issues of interest to the leasing business including Uncovering New Market Niches, Adding Value to Client and Vendor Relationships and Marketing Techniques that Work. The event was attended by members of the Board of Directors of NAELB, and I had the opportunity to discuss some of the Associations projects and plans with the Association's President, Robert Otterbacher, CLP, of OBL Financial Services, Inc, Hinsdale, Illinois. NAELB considers education a key element and has launched a distance learning program, accessible through their website ( www.naelb.org ). The first module, “On Being a Broker” is currently available to all who log on to the website. Subsequent modules will be available to NAELB members. The second module is now being released and the third will be released at the Atlanta meeting in November. Modules 4, 5 and 6 are now in preparation and the target for release of these modules in February, May and August, 2007, respectively. Regarding plans for future modules, Mr. Otterbacker said, “We are going to prepare for Modules 7 and 8 by evaluating topics at the 2007 Annual Conference in Nashville, to be held on May 17 th -19 th , 2007.” Mr. Otterbacher also talked about the internet. “As the main means of communicating with our members”, he said, “and like any forward-thinking organization, we are planning to make improvements in our on-line presence by redesigning our website.” The association provides a popular and well-used on-line Forum for members, and part of the redesign will be to make the Forum easier to use. One area of major interest is the standing of equipment lease brokers. Mr. Otterbacher said, “We're planning to improve the professional image of the lease broker through education, best business practices and higher behavior.” Both the ethics and business practices components will consist of teaching sessions, such as workshops and roundtables, to be held first at the Annual Conference in Nashville in May, 2007. He noted that the members of NAELB consider the Association's Code of Ethics to be one of the three most important benefits of their membership. The NAELB now has 793 members. The goal is to have 1,000 members by the end of 2007, and the Association has begun a membership contest to help reach that goal. The Association serves its members well by maintaining a clear focus on the well-being and needs of its core members, the equipment lease brokers. But the management recognizes that, like all living things, an organization cannot be static. As Bob Otterbacher noted, “You're either growing or shrinking”, he said, “and we are growing”. Bob Teichman, CLP, is the Chairman of Leasing News Advisory Board. "We specialize in the technical side of leasing, offering comprehensive training in packaging, credit, pricing, structuring, financial analysis and operations. Our clients include lessors, lessees, lenders, associations, and government agencies." Teichman Financial Training ---------------------------------------------------------------- "Lessor Network Event"-Shawn Halladay
Know More: Captives, Leasing, Leasing industry, Leasing industry, UNL pools, Vendor leasing I was fortunate to be able to spend several days (the week before last) at the Lessor Network's Fall Showcase at the Ritz-Carlton in Atlanta. My primary role there was as a speaker, although I also was an interested observer. My session, which I conducted with Crit DeMent, the CEO of LEAF Financial, dealt with building a vendor program that will last. We stressed properly identifying all issues up front and addressing them in the program agreement, rather than glossing over them at inception and then having them hit you on the head later on. I thought the session went well, as we were able to pass on many practical and helpful tips on how to prosper ‘after the honeymoon,' including dealing with poor credits, remarketing, revenue recognition, personnel migration, and UNL pools. While I always enjoy speaking and sharing experiences with the audience, my role as an observer was even better. John Semon, who puts together the showcase, touts the event as allowing an intimate group of senior industry executives to meet in an upscale, professional business environment, and I have to agree with him on this. His description is more than hype – it fits. I found the whole program to be of a high standard, from administration all the way through to the presentations. The attention to detail was evident throughout the event right down to the constant availability of Diet Coke, both morning and afternoon. (For those of you who know me and my preference for a healthy lifestyle, you realize the importance I place on the electrolytes that can be found in consuming copious amounts of Diet Coke.) A small thing, admittedly, but it is the sum of the small things that create a memorable event. Not that the details were everything. It also was great to meet many old friends and create new contacts, in addition to listening to some very good presentations on current topics. I also saw plenty of people tucked away in corners doing deals, which always is a hallmark of a successful gathering. All in all, it was a very enjoyable and beneficial experience, both from a business and personal perspective. Kudos, John, and keep up the good work.. www.leasingnotes.com Shawn D. Halladay
http://www.thealtagroup.com/bios-halladay.php
---------------------------------------------------------------- Why I became a CLP—Paul Knowlton
This is the eighteenth article in a series about the Certified Lease Professional program, explaining why individuals decided to become a CLP, the process, and their reaction to the knowledge and other benefits gained. It is recommended you read others in the series, a cross section of the equipment leasing industry to learn how this helped the individual person and their career. Paul Knowlton, CLP BWC Equipment Leasing Walnut Creek, California Paul Knowlton, CLP, is presently President of BWC Equipment Leasing, Walnut Creek, California. He has been in the leasing industry for the last 18 years. In 1998, he joined the Bank of Walnut Creek to start up BWC Equipment Leasing which is focused on small ticket equipment leasing in Northern California. It was recently announced that The Bank of Walnut Creek is being sold to First Republic Bank of San Francisco. Paul will be involved with the development of First Republic Equipment Finance after the close of that sale. Paul is a current board member of the UAEL and resides in Oakland California with his wife and two daughters. He is also a “Duck,” having received his Finance Degree from the University of Oregon. Getting ready for the United Association of Equipment Leasing Conference that he is chairing October 5 th through the 8 th in Albuquerque, New Mexico, he made time to respond to why he became a CLP. Initially, the course work and skills required to pass the exam did me a great service. In any industry, one tends to stick with what one knows and you can narrow in your skills and experience. Working toward the CLP designation required me to brush up on a variety of other leasing products and topics. This has served me well in assisting clients and coworkers with a broader base of knowledge. The CLP designation has allowed me to elevate my status with clients and bankers. I am frequently asked what the CLP stands for on my business card and it provides me with an excellent opportunity to explain the designation and the knowledge and experience required to attain it. It allows me to separate myself from competitors and the clients view my information with a higher degree of confidence. I have closed deals and relationships because of the expertise reflected by the CLP designation. Internally, within my bank, the designation has assisted me in forming the leasing division. The Bank's Board also asked about the CLP and the answer has helped create a confidence in me as the leasing group has grown and prospered. Within the industry, a CLP is well respected and the feeling is mutual when I meet another CLP. I have enjoyed the friendships and relationships I have made within the associations and the continuing education opportunities. A Certified Lease Professional has demonstrated a broad base of industry skills and experience and I am very proud of my CLP status. Anyone serious about a career in leasing should give serious consideration to becoming a CLP. Paul R. Knowlton, CLP, President
--------------------------------------------------------------- “Jeff, why no CLP after you name on your book cover?”
In the Leasing News review of his latest book, “The Future of Equipment Leasing,” a reader noted Jeff Taylor did not have his Certified Leasing Professional designation after his name. Leasing News asked him why? “I am also an MBA, SRES, QSC, CCIM Candidate as well as a CLP. Since I had to choose which credentials were important to my audience I elected to put them in my resume which is on pages 95-96 of the book. “I believe the exact phrase is: “'He passed the California CPA exam in 1984, co-chaired the World Leasing Convention in Toronto, is a current member of the Arizona Equipment Leasing Association and a Certified Leasing Professional (CLP).' “I know this may be difficult for other professionals but I am at the point in my career where I find it more beneficial to not parade my credentials and success in front of my audiences.” Jeffrey Taylor 4844 East Andora Drive Book review: Where to order “The Future of Equipment Leasing” List of CLP's:
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---------------------------------------------------------------- Top Stories--September 4-7
Here are the top ten stories most "opened" by readers last week. (1) Balboa: Working Capital for Brokers (2) East Coast Leasing to cease operations (3) Sales Makes it Happen—by Kit Menkin (4) New “List” -- Captive Lessors (5) Don't let Congress get a hold of this book! (6) Boom in box leasing ahead of peak season (7) Paynet Today, 2006--$360 billion database (8) Leasing 102 by Terry Winders, CLP (9) Placard--- Cashflow is King (10) Royal Links Up-date
---------------------------------------------------------------- Leasing 102 by Mr. Terry Winders, CLP
Distance is a key factor in the consideration of return of equipment. Many of us have a statement in our lease that states that the lessee must return it to a location of our choosing in the Continental United States. If the equipment is large or bulky and shipping costs high then this language may be considered “onerous”. Usually language that requires the lessee to return the equipment to the dealer that sold it, or a like vendor, or to your closest physical location would be acceptable. In 1988 the introduction of Article 2A of the Uniform Commercial Code on equipment leasing stated very clearly that even a fair market purchase option is a bargain and will be considered a disguised conditional sales contract if the cost “to return” the equipment is greater than the value of the equipment, causing the lessee to purchase to avoid the cost of return. One of the problems with equipment values is that the rules require us to prove that there is at least 20% useful life remaining in the equipment. When it comes to equipment like computers, or high tech equipment, its remaining useful life may meet the rules but its value is so small that transportation costs to send it back may make the FMV purchase option look like a bargain. Therefore, some leasing companies are planning to request local secondary market vendors to retrieve the equipment instead of requiring its return. Another idea is to increase the lease payment by a small amount and put the extra aside in an escrow account to pay for the return and the only responsibility the lessee would have is to prepare it for shipment. If the lessee elects the purchase option then the escrow account would be added to the return on the lease. Some lessor require the lessee to store the equipment for up to three months for free giving them time to remarket the equipment with out the costs of return. The problem becomes a serious problem when in bankruptcy some opposing counsel wants to have your lease declared a disguised conditional sales contract so it comes under Article 9 and they may have a chance of gaining some benefits from over collateralization. Mr. Terry Winders has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666 October 9th and 10th he is conducting a two day seminar in Louisville, Kentucky. To learn more, please go here: http://leasingnews.org/PDF/Winders_Seminar.pdf
-------------------------------------------------------------- ATEL Capital Group Announces a Two-Year, Lease Receivables
San Francisco, CA -- ATEL Capital Group, announced that it has established a lease receivable securitization facility with Bayerische Hypo- und Vereinsbank AG, New York Branch (HVB) for ATEL Capital Equipment Fund X, LLC (Fund) in its capacity as the Fund's Manager. The facility will provide up to $100MM in funding from a commercial paper conduit administered by HVB. Liquidity provided by the facility is expected to be used to acquire additional leases and equipment. The facility termination date is July 31, 2008. Mr. Paritosh K. Choksi, ATEL's Chief Financial Officer, stated, “The securitization facility provides an additional source of liquidity for the Fund at a competitive cost. This transaction represents our fourth securitization since 1998. It is also the second $100M transaction we've done with HVB. I am appreciative of the efforts they made in putting together this transaction.” ATEL Capital Group is one of the largest privately held owned equipment leasing and financial services companies in the United States. Since its founding in 1977, ATEL has priced, structured and arranged over $30 billion of equipment leases. ATEL specializes in leasing low-technology equipment such as manufacturing, shipping, rail, and mining to investment-grade companies. In addition, ATEL provides financing to venture-backed companies through its ATEL Venture, Inc. subsidiary. For further information, please visit www.atel.com. ### Press Release ########################### Butler Capital names Stephen Bradley vice president
Stephen B. Bradley, senior credit officer at Hunt Valley (MD)-based Butler Capital Corporation, has been named vice president at the $250 million-asset firm. Mr. Bradley joined Butler in 1998, and in his current role, he is responsible for the overall credit quality of the corporation's loan portfolio.
Prior to his arrival at Butler Capital, Mr. Bradley spent 23 years with the former Union Trust Company of Maryland (later Signet Bank). His roles included credit manager for the leasing division from 1975 to 1980 and relationship manager from 1980 to 1992. He later managed a $90 million syndicated portfolio for third-party investors to the Union Trust successor, Signet Bank. Mr. Bradley earned a bachelor's degree in business administration in 1975 from the University of Baltimore. A native of Baltimore, Mr. Bradley now resides in Harford County, MD, with his wife and children. Established in 1978, Butler Capital Corporation is a direct business lender that provides loans, leases, and credit lines to fund its clients' equipment purchases, business acquisitions, and business expansions. Butler's private-label sales finance programs are used by equipment and business product manufacturers/distributors, and its special third-party finance programs support equipment lessors and brokers nationwide. ### Press Release ########################### ATEL Capital Group Names Chief Accounting Officer
San Francisco, CA -- -ATEL Capital Group announced that Sam Schussler has joined the company's accounting department as Chief Accounting Officer. In his new role, Schussler will be focused on building and strengthening the accounting department's infrastructure. Schussler is a senior financial services executive with Big 4 public accounting experience at both Deloitte and Touche and PWC. Most recently he was consulting for a $B public company working directly on SEC reporting. Pari Choksi, COO states, “Sam brings to ATEL tremendous leadership skills and will consolidate and improve our accounting operations bringing with him best of class business practices. I look forward to him being an integral part of the ATEL management team for a long time to come.” ATEL Capital Group is one of the largest privately held owned equipment leasing and financial services companies in the United States. Since its founding in 1977, ATEL has priced, structured and arranged over $30 billion of equipment leases. ATEL specializes in leasing low-technology equipment such as manufacturing, shipping, rail, and mining to investment-grade companies. In addition, ATEL provides financing to venture-backed companies through its ATEL Venture, Inc. subsidiary. For further information, visit www.atel.com . ### Press Release ########################### San Diego-Based Equipment Leasing Firm, Five Point Capital
San Diego-based equipment leasing firm, Five Point Capital, San Diego, California, ranks No. 82 on the Inc. magazine 500 ranking list of the fastest-growing private companies, with three-year growth of 944.7%. Five Point Capital (FPC) was founded by David Gilbert and Dan Feder in 1999 under the principle that “leasing can help any company grow.” The firm currently serves thousands of businesses nationwide. Five Point Capital leases almost every type of new and used equipment for a wide diversity of businesses including, but not limited to: trucking, restaurants, health services, automotive repair, construction, excavation, multimedia, manufacturing, telecommunications, printing / publishing, packaging, waste management and more. Currently the San Diego-based firm employs 120 and occupies 37,000 sq. ft. at 10525 Vista Sorrento Parkway in San Diego. Commercial equipment loans range from $5,000 to $500,000. “Being included in the 2006 Inc. 500 is a distinct honor for Five Point Capital. This feat is one all of our employees have earned through their high level of performance and customer service. Our goal is to be the nation's leading equipment leasing firm,” states CEO, David Gilbert. The 2006 Inc. 500, as revealed in the September issue of Inc., reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. Most important, the 2006 Inc. 500 companies were engines of job growth, having created more than 90,000 jobs since those companies were founded. “If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition.” Five Point Capital helped California achieve the state's distinction of having the most Inc. 500 companies – 66 (down from 77 last year). Methodology The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be U.S.-based, privately held independent – not subsidiaries or divisions of other companies – as of December 31, 2005, and have, and have at least $600,000 in net sales in the base year. Visit http://www.inc.com to dig deeper into this year's Inc. 500 rankings To celebrate the 25th annual Inc. 500 list, Inc.com has assembled an exclusive lineup of interactive resources that includes: • Interactive maps allowing for quick insight into regional and industry trends Inc., http://www.inc.com, Inc. is the only major business magazine dedicated exclusively to owners and managers of growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Inc., a Mansueto Ventures LLC publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination. Five Point Capital http://www.fivepointcapital.com Emerging as one of the nation's leaders in small ticket leasing, Five Point Capital (FPC) was founded by David Gilbert and Dan Feder in 1999. The San Diego-based firm employs 120 and occupies 37,000 sq. ft. at 10525 Vista Sorrento Parkway. Five Point Capital currently serves thousands of businesses nationwide, and has doubled revenues annually since its inception. Small businesses benefit with their high performance customer service and personal attention. Each client is assigned an account executive who has specific industry knowledge about the client's business. Five Point Capital leases almost every type of new and used equipment for a wide diversity of businesses including, but not limited to: trucking, restaurants, automotive repair, construction, excavation, multimedia, manufacturing, telecommunications, printing, packaging, waste management, and more. FPC is a member of the Equipment Leasing Association and the United Association of Equipment Leasing. For more information, call (888) 576-4685. ### Press Release ########################### Equipment Leasing Association Appoints Kelli Jones Nienaber (no photograph was available) Nienaber Supplements Current Policy and Legislative Efforts Arlington, VA——The Equipment Leasing Association (ELA) announces that Kelli Jones Nienaber has joined the organization as Manager, Government Relations effective immediately. Nienaber, who joins ELA's current government relations staff, will engage members in grassroots activities at both the federal and state level as well as operate the association's Political Action Committee (PAC). Nienaber has more than 10 years of experience managing legislative and political programs in both the public and private sector. “Kelli's appointment is another step toward boosting the association's advocacy efforts,” said ELA president Ken Bentsen. “Her experience in managing grassroots campaigns and PAC activities coupled with her corporate, association and Hill background makes her an ideal addition to our policy and legislative team.” Nienaber added, “I look forward to helping members effect positive change for the industry. While the association members are clearly experts in their field, I can help them communicate that expertise to elected officials in the most efficient and productive manner.” Nienaber's background includes working for Senator Kit Bond (R-MO), serving as director of government affairs for the National Stone, Sand and Gravel Association (NSSGA), and most recently managing government relations for Gateway, Inc. In her various capacities, she has successfully managed political and grassroots programs, developed and executed federal and state legislative strategy for issues, including tax and electronic waste, and organized events for a successful U.S. Senate campaign. “Kelli will primarily be involved in encouraging, motivating and engaging association members to be more involved in the political process,” said David Fenig, ELA's Vice President of Federal Government Relations. “We are fortunate to work with someone who knows our issues, how the Hill works, and is able to get members involved.” Added Dennis Brown, the association's Vice President of State Government Relations, “Her legislative experience in ELA's current issues, including equipment recycling and electronic waste issues, presents a terrific opportunity for the association. We are looking forward to making good use of that background.” Nienaber has a BA in political science from the University of Missouri-Columbia. About ELA Organized in 1961, the Equipment Leasing Association (ELA) is the premier non-profit association representing companies involved in the dynamic equipment leasing and finance industry to the business community, government and media. As the voice of the leasing industry, ELA promotes the forecasted $220 billion industry as a major source of funds for capital investment in the United States and abroad. For more information on ELA, please visit www.ELAOnline.com. ### Press Release ########################### HP Offers Complete Portfolio of Flexible Financing Options New offers include credit lines, loans, and 0 percent leasing offers PALO ALTO, Calif., HP today announces new credit lines, loans and promotional lease offers that help to remove the financial barriers and ease the technology buying experience for small and mid-sized businesses (SMBs).(1) With only a $350 minimum transaction size, HP Financial Services' latest offers are available to even the smallest of customers. Plus, under the new credit line capabilities, customers are automatically pre-approved for the maximum amount for which they are eligible, which in turn provides credit availability for future technology purchases. In addition, a new loan product gives SMBs another financing option that will let them maintain equipment ownership from day one at very competitive rates. Part of the HP Total Care portfolio, these new financing options are intended to provide SMB customers a differentiated and better experience with HP. They can, for example, take advantage of a new loan offer that allows them to maintain ownership of the technology from the start, as well as credit lines that complement both loan and lease products. “Each customer has a unique technology need with unique circumstances,” said Eileen O'Brien, vice president, Worldwide Small and Medium Business, Personal Systems Group, HP. “Today, we are responding with a variety of affordable financing options that help customers secure the technology they need now with the time they need to pay for it.” Industry analyst firm Yankee Group finds that financing programs make it easy to extend IT solution costs over time, enabling SMBs to manage business finances more effectively and preserve cash for focused, core business initiatives. According to a Yankee Group report, “Vendor Financing Solutions are Gaining Interest in the SMB and Mid-market,” more than half of the SMB respondents view the availability of financing options to be at least somewhat important when making purchasing decisions.(2) Flexible leasing and financing options Through Oct. 31, 2006, 4.9 percent financing promotions are available on all HP LaserJet, multifunction, inkjet and large-format printers as well as a wide variety of HP business PCs, workstations and servers. Additionally, SMB customers can secure promotional rates as low as 4.4 percent on bundled HP BladeSystem and StorageWorks products. These rates translate into low monthly payments for 24-, 36-, 48- or 60-month terms. Under the 4.9 percent and 4.4 percent financing promotions, the customer may purchase the financed equipment at the end of the term for just $1. Customers also can reduce the cost of obtaining their technology by taking advantage of promotional 0 percent lease rates across various products and terms. With a 0 percent lease rate and 24-, 36-, 48- or (new) 60-month terms on all HP LaserJet, multifunction and large-format printers and HP All-in-One devices, securing a printing solution has never been easier. All other products, including business PCs, offer a 0 percent lease rate with a 27-month term. After returning the products at the end of the term of the 0 percent lease, customers can easily upgrade to the newest products available. “As a partner, it is important to act as trusted advisor for the customer by showing them the options available to secure the technology they need,” said Chuck Thiel, account manager, Open Systems Technologies. “One of our customers took advantage of HP's 4.4 percent financing offer, which allowed him to easily adopt new technology without the burden of paying for the entire solution upfront. The process was easy and took only minutes to approve.” Speedy and easy approval process Now, an enhanced credit application process simplifies and expedites the turnaround time for applications for SMBs. In fact, customers receive credit decisions in just minutes on almost every transaction. With a simple one-page application for all financing options, it is easy for customers to secure the technology they need. Additionally, HP has created a new Rapid Response Center which triples the number of resources dedicated to SMBs and HP channel partners in order to further expedite the approval process. All products are available directly through HP or its PartnerOne business partners. More information on HP Financial Services for businesses of all sizes is available at www.hp.com/hpfinancialservices <http://www.hp.com/hpfinancialservices> . About HP HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended July 31, 2006, HP revenue totaled $90.0 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com <http://www.hp.com/> . 1 Financing available through Hewlett-Packard Financial Services Company (HPFS) to qualified commercial customers in the United States and is subject to credit approval and execution of standard HPFS documentation. 0 percent lease rate offer is an implicit lease rate, assuming lessee does not exercise a fair market value purchase option at the end of the lease term and timely returns the leased equipment to HPFS at the end of the lease term and disregarding any charges payable by lessee other than rent payments (such as taxes, fees and shipping charges). HPFS reserves the right to change or cancel the programs described in this advisory at any time without notice. ### Press Release ###########################
News Briefs--- Iran blasts blacklisting of its bank by U.S. Hewlett-Packard Is Still Pondering Chairwoman's Fate HP board chair's leadership in question Fed OKs Credit Agricole as U.S. bank holding firm Hawaiian employers face worker shortage N.Y. woman wins $1 million lottery again ---------------------------------------------------------------
You May have Missed--- Did Jack Welch pick right GE successor? ---------------------------------------------------------------
Sports Briefs----
Cowboys start fast, fizzle in loss to Jaguars 49ers make progress in 34-27 loss to Cardinals Colts Defeat Giants, but Battle of Mannings Is a Tie Bengals are more than just Palmer Bears blank Pack in opener-Favre's first shutout in his career Falcons manhandle Panthers Punchless Hawks dodge a bullet, beat Lions 9-6 Flags Raise Flags in N.F.L.
Bank of America huddles with Patriots for new checks ----------------------------------------------------------------
“Gimme that Wine” Merryvale dedicates Starmont winery Sonoma Valley Wine Auction Raises $744,000 Tasting rooms are a crucial source of income for California wineries Coppola: Keeping it casual in Geyserville Wine Prices by vintage US/International Wine Events Winery Atlas Leasing News Wine & Spirits Page The London International Vintners Exchange (Liv-ex) ----------------------------------------------------------------
Calendar Events This Day Ethiopia: New Year's Day Libraries Remembered Patriot Day ----------------------------------------------------------------
Popcorn was invented by the American Indians http://www.htexpress.com/howto-history-popcornmachine.htm
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Today's Top Event in History 1777- The largest engagement of the American Revolution, between the Continental Army led by General George Washington and British troops led by General William Howe. General Howe was marching to take Philadelphia when Washington chose to try and stop the British advance at the Brandywine River near Chadds Ford, PA. The American forces under General George Washington were defeated and the British went on to take Philadelphia on September 26th. They spent the winter in the city while Washington's troops suffered at their encampment at Valley Forge, PA. Only the weather prevented General Howe from following up his series of victories, while the Americans trained, held on, and not only tried to keep men from deserting, but recruit more experienced riflemen, who owned a rifle. 2001- At 8:48 a.m. EDT a passenger jet crashed into the North Tower of the World Trade Center in New York City. Flames and smoke at 9:06 a.m. Another plane hit the WTC's South Tower. At 9:43 a.m. the Pentagon in Washington DC was hit by another jet airliner. A few minutes later, a fourth jet airliner crashed in a field in Shanksville, PA, some 80 miles southeast of Pittsburgh. For the first time, terrorists had struck on U.S. soil. Air traffic to and from U.S. airports was halted. 19 Muslim militants, all men, all in their 20s and 30s, members of Osama Bin Laden's al-Qaeda, had hijacked at least four planes all in the name of their religion: Islam. Almost 3,000 people died at the World Trade Center, including 385+ firefighters and police who valiantly attempted to save the thousands in the towers. One jet destroyed a section of the Pentagon, killing 189 people. On the plane in Pennsylvania, the brave souls aboard tried to regain control from their hijackers. Their plane crashed in a field. There were no survivors. The 19 Islamic religious fanatics of Middle Eastern descent wanted to destroy what Americans stand for. They died in vain. But, the people they murdered did not. Americans are now prouder, more committed to stand together; united from Maine to Hawaii, from Alaska to Florida, determined not to let any country, religion, or people steal our freedoms. Americans will fight all evil-doers for our inalienable right to live in our democracy. The battle cry of the United States against terrorists: “Let's roll!” (Todd Beamer's last words as heard by an Airfone operator minutes before Flight 93 crashed.) ----------------------------------------------------------------
This Day in American History 1743- Sarah Franklin Bache birthday, took over the collecting of money to provide clothing for Gen. Washington's army during the American Revolution. In order to make the money go further, she took part of it to buy raw linen cloth. She then had the material cut into shirt patterns at her own home, and she and her friends (and servants) hand-sewed 2,005 shirts themselves - a prodigious accomplishment that would have warranted the highest military awards had it been done by men. From before her marriage and throughout (along with having seven children) she also served as host for her father, Benjamin Franklin. In writing about Sarah Franklin Bache in the past, several readers noted that they were taught in school that Franklin was unmarried. Well, technically, yes, he was unmarried under the law - and absolutely, he was not single. Deborah Read was unable to find her husband to divorce him after meeting Franklin. Therefore, in the ways of that time, she and Benjamin Franklin lived together as husband and wife and were accepted in society as a married couple. Deborah Read Franklin died in 1774, just before the Revolutionary War. Franklin is buried next to her in the famed Christ Church cemetery as is Sarah Franklin Bache, who was devoted to her father throughout his later life. In Franklin's will, he gives “his daughter” Sarah most of his estate. Her portrait by John Hoppuer is on display in the Metropolitan Museum of Art, New York City. --------------------------------------------------------------
Baseball Poem Talking Baseball Bring your cap and cushion and thermos Teach 'em to enjoy batting practice Teach ' em how to keep score Teach 'em how to care How to root Walk away now Written by Gene Carney, Published by McFarland & Company -------------------------------------------------------------- SuDoku The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler? |
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