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Tuesday, April 10, 2012



Today's Equipment Leasing Headlines

Jim Reed Passes Away
  Classified Ads---Collections/Controller
 Lawyers Against Evergreen Clause Abuse
  Companies who notify lessee in advance of lease expiration
   and require their discounter to also notify lessee in advance
    Placard---Outnumbered
April, 2012 Leasing Company BBB Ratings
 by Christopher Menkin
  BBB: Can you buy your rating?
   Leasing News Bulletin Board Complaint Ratings
    Who’s Ratings Have Changed Since January
     April, 2012 BBB Ratings
 Classified Ads---Help Wanted
  Leasing 102 by Mr. Terry Winders, CLP
   Terminating a lease
     Top Stories April 2--April 4
      Consumers Do Poorly on Financial Literacy
       Collie Mix--Rancho Cucamonga, California Adopt-a-Dog
New Briefs---
  What does Delaney’s resignation from CapitalSource
   
mean for the company?
    Fed chairman talks up financial reforms in Atlanta
      What would happen to the stocks of the largest banks
      --if they were forced to break themselves up?
       FDIC names former Bear Jim McMahon in Broadway Bank suit
        Ex-NY bank director gets prison in $60M stock scam
         The surprising reason for record new car prices
          Obama Candidate Sketches Vision for World Bank
           Ferdinand A. Porsche, Designer of the 911, Dies at 76

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

  You May Have Missed
     SparkPeople--Live Healthier and Longer
      Sports Briefs---
       Spring Poem
        California Nuts Briefs---
         "Gimme that Wine"
           This Day in American History
         SuDoku
           Daily Puzzle
             GasBuddy
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.




[headlines]
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Jim Reed Passes Away

Jim Reed, 91, president of Security Exchange Leasing (SEL), Glendora, California, passed away. He had started SEL in 1972, specialized in small ticket leasing, active in the Western Association of Equipment Leasing and United Association of Equipment Leasing, according to Leasing News archives. He had seven employees at one time, before closing five years ago for a knee operation. His son Roger said he never recovered, and developed Alzheimer’s and had serious trouble with it, and he told Leasing News his father’s passing was a blessing.

Mohammed Ahsan of Quail Capital told Leasing News, "he has been in leasing industry for over 40 -50 yrs. Used to own some auto dealership, came to CA from Michigan and then in to equipment leasing in Downey, CA under SEL Equipment Leasing. We have done business with Jim Reed for the last 30 years. He was from the old school and was very honest individual. We all enjoyed working with him and will miss him."

Roger Reed told Leasing News his father did not want a memorial service, as well as didn't want a newspaper obituary.

 

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Classified Ads---Collections/Controller




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

Collections

Port St Lucie, FL
20+ yrs exp. commercial collection/late stage specialist. 
Prefer to work from home based office or transfer to Sarasota areamichaelgalan@comcast.net | Resume


Controller

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


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


[headlines]
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Lawyers Against Evergreen Clause Abuse


This is an idea from attorney Michael Witt, West Des Moines, Iowa. He is an ex-Advanta Leasing and Wells Fargo Equipment Finance attorney who enjoins Leasing News editorial and position regarding the abuse of the Evergreen Clause, particularly in small ticket leasing, and especially involving $1.00 out purchase options.

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

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

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

Leasing News would like to see an industry standard that lessees are notified in advance of the expiration of their contract regarding its termination.

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

 

[headlines]
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Companies who notify lessee in advance of lease expiration
and require their discounter to also notify lessee in advance

ABCO Leasing
Advantage Funding
Agility Ventures LLC
Allegiant Partners
American Leasefund, Inc.
Balboa Capital Corp.
BancLease Acceptance Corporation
Bank of Ozarks Leasing
Bankers Capital
Bank of the West, Indirect Equipment Finance
Black Rock Capital
BSB Leasing
Calfund
Capital Technology & Leasing, LLC
Cobra Capital, LLC
Commerce National Bank
Dakota Financial, LLC
Direct Capital
eLease

 

Financial Pacific Leasing
Five Point Capital, Inc
Forum Financial Services, Inc.
Gonor Funding
GreatAmerica Leasing
Madison Capital
Manufacturer's Lease Plans, Inc
Marquette Equipment Finance
Mesa Leasing
Maxim Commercial Capital
Mount Pleasant Capital
National Machine Tool Financial Corporation
Navitas Lease Corp.
Northwest Leasing Company
P&L Capital Corporation
Pacifica Capital
Pawnee Leasing Corporation

Standard Professional Services, LLC
TEAM Funding Solutions
Vehicle Lenders Group, LLC

 

 

 

[headlines]
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[headlines]
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April, 2012 Leasing Company BBB Ratings
by Christopher Menkin


BBB: Can you buy your rating?
Bulletin Board Complaints and their BBB Ratings:
Who’s Ratings Have Changed Since January
April, 2012 Rating

First, if you do not find your company on the list, please contact kitmenkin@leasingnews.org and your company will be added.

 

[headlines]
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BBB: Can you buy your rating?

This list originally started to outline Bulletin Board Complaint companies and grew from their. There are leasing companies who state by becoming "accredited," BBB will improve the rating. There are instances that this has occurred, and there are instances that "accredited" companies have gone down the list, as noted in the April, 2012 report.

The “accredited” costs a fee. It seems to be an advantage, as well as being a member of the Better Business Bureau.

There have been several of the BBB franchises that have been in the newspapers for the manager-owner making more money by having higher ratings, such as occurred in Los Angeles, California. BBB states these are the exceptions.

Nevertheless, there are some "peculiarities," such as Chase Industries, Grand Rapids, Michigan, an A+, but basically out of business for over a year since an employee allegedly embezzled almost a million dollars; vendors not paid, bank lines not paid, creditors owed money. But then BBB relies on those with complaints to contact them.

Main Street Bank, Kingwood, Texas on the list, although most of the leases and loans were brought forward to Ascentium, Kingwood, Texas (not rated yet.) As reported by readers, Ascentium is really tearing up the competition, this from lessors, vendors, as well as some testimonials from lessees (not sent from Ascentium.) Depping and his crew are really back at the top in a very short period of time.

As important, the "F" ratings of Equilease Financial Service, Norwalk, Connecticut and Susquehanna Commercial Finance, Pottstown, Pennsylvania.

Equilease is an old line company, growing, with an excellent industry reputation, and the "F" according to BBB is because:

(1) "Length of time business has been operating.

(2) “Failure to respond to 2 complaints filed against business."

February 15, 2012, Equilease announced it was chosen by SL Financial Services of Westport, Connecticut to become their "back office" for their $260 million portfolio of middle-ticket equipment leases and loans. In a conversation "off the record," they were angry at BBB for not returning calls, wondering what two responses to complaints they were being castigated for, and as for length of time in business, they were founded in 1957 and have been operating since.

http://leasingnews.org/archives/Feb2012/2_15.htm#equilease.

Leasing News has attempted several times to get "on the record" or "off the record" comments from Susquehanna Commercial Finance, Pottstown, Pennsylvania. Here are the reasons they are an "F."

(1) "BBB does not have sufficient information to determine how long this business has been operating

(2) ‘Failure to respond to 2 complaints filed against business”

(3) “BBB does not have sufficient background information on this business"

The BBB franchise in the area states on their web: "BBB file opened: April 10, 2009." Google was around then and a quick trip would have taken them to http://www.susquehanna.net:

"Susquehanna Commercial Finance Inc. (SCF) is a bank owned lessor located in Malvern, Pennsylvania. The Company is owned 100% by Susquehanna Bank of Susquehanna Bancshares, Inc. (NASDAQ:SUSQ). Susquehanna Bancshares, Inc. is headquartered in Lititz, Pennsylvania. Susquehanna Commercial Finance, Inc. is a self-funding lessor utilizing capital from their parent company.

"Susquehanna Commercial Finance Inc., was founded in 1997 and focuses on small to middle ticket transactions."

An enter key to: http://www.susquehanna.net/InvestorRelations/FinancialHighlights.aspx would have shown a Tier 1 Capital Ratio 13.65; something to brag about.

To answer questions by critics, it is better to support and join the Better Bureau System than to fight it.

It is better to “pay the two dollars” and become accredited. It is the “cost of doing business.”

Definition of “Accredited,”
according to Better Business Bureau.

“Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

“To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.”

If you would like your company on the next list, up-dated every third month, please send email to: kitmenkin@leasingnews.org

 

 

 

[headlines]
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Bulletin Board Complaints and their BBB Ratings:

Ability Capital Solutions, Long Beach, California: A
ACC Capital, Midvale, Utah: not rated
Benchmark Financial, Aliso Viejo, California: F
Balboa Capital, Irvine, California: B-
iFinancial Group, San Clemente, California: A-
Jules and Associates, Los Angeles, California: A+
Matrix Business Capital, Long Beach, California: A
Newport Financial Partners, Newport Beach, California: B+
Radiance Capital, Tacoma, Washington: A+

Note: Many of those in the Bulletin Board complaint are no longer in business. http://www.leasingnews.org/bulletin_board.htm

 

 

 

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Who’s Ratings Have Changed Since January

TimePayment Corporation
From an A+ to "under review"

Enterprise Capital Partners dba Enterprise Leasing, Spokane, Washington
To an A+ from an A

Alliance Funding Group, Orange, California
From an A to an A+

Pawnee Leasing, Fort Collins, Colorado
From an A to an A+

American Capital Group, Inc., Irvine, California
From an A to a B+

 


 

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April, 2012 Leasing Company BBB Ratings

A+

--Accredited 12/16/1997
21st Century Leasing, San Diego, California
http://www.bbb.org/san-diego/business-reviews/leasing-service/21st-century-leasing-in-san-diego-ca-10011418/

--Accredited 9/10/2000
Advantage Leasing Corporation Milwaukee, Wisconsin
http://www.bbb.org/wisconsin/business-reviews/leasing-service/advantage-leasing-corporation-in-milwaukee-wi-1004216/

--Accredited 4/01/2002
Allegiant Partners, San Rafael, California
http://www.bbb.org/greater-san-francisco/business-reviews/leasing-service/allegiant-partners-incorporated-in-san-rafael-ca-46794

Alliance Funding Group, Orange, California
http://www.la.bbb.org/Business-Report/Alliance-Funding-Group-Inc-13096486

--Accredited 9/01/2008
Arvest Bank Leasing, Fayetteville, Arkansas
http://www.bbb.org/arkansas/business-reviews/banks/arvest-bank-in-sherwood-ar-5001142

--Accredited 8/27/1999
Axis Capital, Grand Island, Nebraska
http://www.bbb.org/nebraska/business-reviews/office-furniture-and-equipment-rental-and-leasing/axis-capital-in-grand-island-ne-104008575

Bankers Capital, Northborough, Massachusetts
http://www.bbb.org/central-western-massachusetts/business-reviews/financing/bankers-capital-in-northborough-ma-262264

BSB Leasing, Englewood, Colorado
http://www.bbb.org/denver/business-reviews/financial-services/b-s-b-leasinginc-in-englewood-co-26029

--Accredited 6/20/1996
Charter Capital, Scottsdale, Arizona
http://www.bbb.org/central-northern-western-arizona/business-reviews/leasing-service/charter-capital-in-scottsdale-az-89000861/

Chase Industries, Grand Rapids, Michigan
http://www.bbb.org/western-michigan/business-reviews/leasing-service/chase-industries-in-grand-rapids-mi-38115448

CSI Leasing, St. Louis, Missouri
http://www.bbb.org/stlouis/business-reviews/computers-dealers/cs-i-leasing-in-saint-louis-mo-110207320

De Lage Landen Financial Services, Incorporated, Wayne, Pennsylvania
http://www.bbb.org/washington-dc-eastern-pa/business-reviews/financing/de-lage-landen-financial-services-incorporated-in-wayne-pa-80012304/

Direct Capital, Portsmouth, New Hampshire
http://www.bbb.org/concord/business-reviews/financial-services/direct-capital-corporation-in-portsmouth-nh-3004519#

--Accredited 3/10/2011
Financial Pacific, Federal Way, Washington
http://www.bbb.org/western-washington/business-reviews/consumer-finance-and-loan/financial-pacific-leasing-in-federal-way-wa-22025327

--Accredited 8/10/2011
Five Point Capital, San Diego, California
http://www.bbb.org/san-diego/business-reviews/financing/five-point-capital-inc-in-san-diego-ca-20001011/

--Accredited 12/27/2010
Great America Leasing, Cedar Rapid, Iowa
http://www.bbb.org/iowa/business-reviews/financing/great-america-leasing-in-cedar-rapids-ia-20000104

Innovative Leasing Services, Inc Carlsbad, California
http://www.bbb.org/san-diego/business-reviews/leasing-service/innovative-lease-services-inc-in carlsbad-ca-10008827/

--Accredited 7/20/2011
Jules & Associates, Los Angeles, California
http://www.la.bbb.org/Business-Report/Jules-and-Associates-Inc-92003291

---Accredited 1/2/1993
Key Equipment Finance aka KeyBank Headquarters Location
http://www.bbb.org/cleveland/business-reviews/banks/keybank-in-cleveland-oh-6747/

--Accredited 5/9/2003
Lease Corporation of America, Troy, Michigan
http://www.bbb.org/eastern-michigan/business-reviews/computers-software-and-services/lease-corporation-of-america-in-troy-mi-45000151/

Accredited since 08/01/1997
Lease $mart, Oro Valley, Arizona  85737

http://www.bbb.org/tucson/business-reviews/leasing-service/lease-mart-in-tucson-az-6762

---Accredited 4/30/2004
Mar Vista, Villa Park, California
http://www.la.bbb.org/Business-Report/Mar-Vista-Financial-13158488

Orion First Financial, Gig Harbor, Washington
http://www.bbb.org/western-washington/business-reviews/consumer-finance-and-loan-companies/orion-first-financial-in-gig-harbor-wa-37003864

Accredited since 09/02/1999
P&L Capital,Omaha, Nebraska 68137

http://www.bbb.org/nebraska/business-reviews/office-furniture-and-equipment-rental-and-leasing/p-and-l-capital-in-omaha-ne-10

Pawnee Leasing, Fort Collins, Colorado
http://www.bbb.org/wyoming-and-northern-colorado/business-reviews/leasing-companies/pawnee-leasing-corporation-in-fort-collins-co-46006417

---Accredited since 08/21/2007
Portfolio Financial Servicing Company, Portland, Oregon

http://www.bbb.org/oregon/business-reviews/financial-services/portfolio-financial-servicing-company-in-portland-or-22140131

---Accredited 8/20/2009
Providence Capital Funding, Brea, California
http://www.la.bbb.org/Business-Report/Providence-Capital-Funding-Inc-100085193

Radiance Capital, Tacoma, Washington
http://www.bbb.org/western-washington/business-reviews/office-furniture-and-equipment-rental-and-leasing/radiance-capital-in-tacoma-wa-22227403

Southern California Leasing Inc., Tustin, California
http://www.la.bbb.org/Business-Report/Southern-California-Leasing-Incorporated-13135867

---Accredited 03/03/1979
Steelcase Financial Services, Grand Rapids, Michigan
http://www.bbb.org/western-michigan/business-reviews/office-furniture-and-equipment-wholesale-and-mfg/steelcase-in-grand-rapids-mi-14000824

---Accredited 3/11/2005
Strada Capital Corporation, Laguna Hills, California
http://www.la.bbb.org/Business-Report/Strada-Capital-Corporation-100005606

Studebaker-Worthington Leasing Corp., Jericho, New York
http://www.bbb.org/NYC/business-reviews/financing/studebaker-worthington-leasing-corp-in-jericho-ny-21198/

---Accredited 12/19/2007
Summit Funding Group, Cincinnati, Ohio
http://www.bbb.org/cincinnati/business-reviews/financing/summit-funding-group-inc-in-cincinnati-oh-1206757/

TCF Equipment Finance, Minnetonka, Minnesota
http://www.bbb.org/minnesota/business-reviews/consumer-finance-and-loan-companies/tcf-equipment-finance-in-minnetonka-mn-96072521

United Leasing, Evansville, Indiana
http://www.bbb.org/evansville/business-reviews/auto-leasing-and-rental-companies/united-leasing-in-evansville-in-99475

Accredited since 04/01/1970
US Bank Manifest, Portland, Oregon
http://www.bbb.org/minnesota/business-reviews/banks/us-bank-in-minneapolis-mn-407

A

---Accredited 2/10/2007
Ability Capital Solutions, Long Beach, California
http://www.la.bbb.org/Business-Report/Ability-Capital-Solutions-100046803

--Accredited 4/6/2010
Cornerstone Medical & Technology Finance, Lees Summit, Missouri
http://www.bbb.org/kansas-city/business-reviews/financial-services/cornerstone-medical-and-technology-finance-in, -lees-summit-mo-99153606

--Accredited since 12/13/2007
Matrix Business Capital, Long Beach, California
http://www.la.bbb.org/business-reviews/Office-Furniture-and-Equipment-Rental-and-Leasing/Matrix-Business-Capital-in-Long-Beach-CA-100041782

Mazuma Capital Corp., Salt Lake City, Utah
http://www.bbb.org/utah/business-reviews/contractor-equipment-and-supply-rental-and-leasing-companies/mazuma-capital-in-draper-ut-22214565

A-

Celtic Leasing, Irvine, California
http://www.la.bbb.org/Business-Report/Celtic-Leasing-Corp-78000620

--Accredited 8/19/2011
iFinancial Group, San Clemente, California
http://www.la.bbb.org/Business-Report/iFinancial-Group-13077753

---Accredited 2/22/2011
Marlin Leasing, Mount Laurel, New Jersey
http://www.bbb.org/new-jersey/business-reviews/business-consultants/marlin-leasing-in-mt-laurel-nj-80012102

---Accredited 8/12/2010
Navitas Lease Finance Corp., Ponte Vedra Beach, Florida
http://www.bbb.org/north-east-florida/business-reviews/financial-services/navitas-lease-finance-corp-in-ponte-vedra-beach-fl-125716478/

Tristar Capital, Santa Ana, California
http://www.la.bbb.org/Business-Report/Tri-Star-Capital-LLC- 13137212

B+



---Accredited 3/01/1997
American Capital Group, Inc., Irvine, California
http://www.la.bbb.org/Business-Report/American-Capital-Group-13035961

Newport Financial Partners, Newport Beach, California

http://www.la.bbb.org/business-reviews/Other-Financial-Services/Newport-Financial-Partners-LLC-in-Newport-Beach-CA-100100708



B

LEAF Financial Corporation, Philadelphia, PA
http://www.bbb.org/washington-dc-eastern-pa/business-reviews/financial-services/leaf-financial-corporation-in-philadelphia-pa-55049028/

B-

 

Balboa Capital, Irvine, California
http://www.la.bbb.org/Business-Report/Balboa-Capital-Corporation-13126386

Main Street Bank, Kingwood, Texas
http://www.bbb.org/houston/business-reviews/banks/main-street-bank-in-kingwood-tx-22011705/

Varilease Finance, Inc., Salt Lake City, Utah
http://www.bbb.org/utah/business-reviews/credit-services/varilease-finance-in-salt-lake-city-ut-22165465


F

Barklay Capital, Inc., Costa Mesa, CA
http://www.la.bbb.org/Business-Report/Barklay-Capital-Inc-100016455

Benchmark Financial Group, Aliso Viejo, California
http://www.la.bbb.org/Business-Report/Benchmark-Financial-Groups-LLC-100045720

Business Leasing NorthWest, Seattle, California
http://www.bbb.org/western-washington/business-reviews/leasing-service/business-leasing-northwest-in-seattle-wa-22035387

Equilease Financial Service, Norwalk, Connecticut
http://www.bbb.org/connecticut/business-reviews/financial-services/equilease-financial-service-in-norwalk-ct-1003628

Susquehanna Commercial Finance, Pottstown, Pennsylvania
http://www.bbb.org/washington-dc-eastern-pa/business-reviews/financial-services/susquehanna-commercial-finance-in-pottstown-pa-140042240/

NOT Rated Any More:

ACC Capital, Midvale, Utah
http://www.bbb.org/utah/business-reviews/financial-services/acc-capital-in-midvale-ut-5002457
Closed, lenders running off portfolio residuals, according to Loni Lowder, president.

Atel Capital
http://www.bbb.org/greater-san-francisco/business-reviews/equipment-rentals-and-sales/atel-in-san-francisco-ca-76975

Business Leasing NorthWest, Seattle, California
http://www.bbb.org/western-washington/business-reviews/leasing-service/business-leasing-northwest-in-seattle-wa-22035387

Enterprise Capital Partners dba Enterprise Leasing, Spokane, Washington
http://www.bbb.org/eastern-washington/business-reviews/investment-advisory-service/enterprising-capital-partners-in-spokane-wa-64002656/

Icon Capital Group, Harrison, New York
http://www.bbb.org/NYC/business-reviews/financing-consultants/icon-capital-corp-in-harrison-ny-27583/ (Icon Capital now into gas and oil).

Somerset Capital Group, Milford, Connecticut
http://www.bbb.org/connecticut/business-reviews/leasing-service/somerset-capital-group-in-bridgeport-ct-1001573
(This company was an A- in 2010. The site lists no complaints in the last 12 months or last three years. No explanation is given as to why it is “not rated.”)

TimePayment Corporation
http://www.bbb.org/boston/business-reviews/not-elsewhere-classified/timepayment-corporation-in-woburn-ma-117288/

Many banks and financial Institutions with leasing entities evidently do not have their leasing divisions separated from bank and financial institutions ratings. No rating was found on the leasing divisions.

Find your company's BBB listing by going to www.bbb.org and using your zip code first for the right division.

 

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Leasing Industry Help Wanted


Advance Restaurant Finance


Looking for sales reps to call on small to medium
sized retail merchants nationwide.
Experience preferred in this industry, but open
to ambitious "make sales" self-motivators.
Base salary, commissions,full benefits available.
Email with resume to: slohmann@arfcash.com

* Fast Approvals
* No Need to Change Credit Card Processors

"When bank financing is unavailable, we are your best alternative for an unsecured working capital loan up to $1,000,000 per location."
www.arfcash.com


Leasing Sales Representative
Long Island, NY

Hiring experienced or new to business sales reps. Transactions in all states / all industries. Send resume to: info@sterlingcap.net or fax 631-414-7571.

About the Company: Sterling Capital Leasing, LLC is a national small ticket/middle market leasing company



Inside Sales Manager Irvine, California

First Year Expect $125k with base salary & commission
to direct small ticket sales team.
Click here for more information.

GeNESIS provides game-changing technology, tools and training as well as pre-qualified leads to help great salespeople be more successful and make more money.
www.gen-cap.com


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.

 

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Leasing 102
by Mr. Terry Winders, CLP


Terminating a lease

True leases usually have a residual because the lessee has a payment requirement or the term of use is much shorter than the actual useful life of the equipment. This requires the lessor to look closely at the “use” of the equipment and check it out with the same effort that the credit investigation requires. If a residual is taken, the lessor has an investment in the equipment that will not be realized until termination. It is very important to create an attachment to the acceptance agreement that spells out the return conditions.

One of the most neglected documents in leasing is the return conditions. If you want a good one then e-mail me and I will send you one. However, no one document can cover all types of equipment. Part of the original equipment investigation should determine what the manufacturer/distributor suggests you should put in the return conditions. One of the tricks of the trade is to put a phrase in your return conditions (in bold print) that the lessee “may be” subject to an investigation fee for an industry expert to check out the condition prior to the lessors acceptance of the returned equipment.

Once we started putting the investigation fee in the return language it was surprising how the condition of returned equipment jumped up considerably. I never imposed the fee, but I also contacted the lessee 90 days prior to termination and sent them a copy of the return conditions. On many occasions the lessee negotiated a purchase because the condition of the equipment was such that the price to bring it up to the return conditions was higher that the purchase price.

The termination of a true lease and the equipment issues associated with that termination require as much if not more work as went into the commencement of the lease.

There are four ways a termination can occur,

(1) a default,
(2) an early termination,
(3) an early buy out,
(4) the end of the agreed upon term(s) of rent.

Each requires careful consideration and knowledge of how the equipment value(s) will affect the required procedures. The equipments value is a function of its condition, location, and remaining useful life.

Termination of the lease and the return of the equipment must be handled in a very careful manner so once the equipment has been cleared to be returned then you should have a policy or set of instructions on how to handle the return.

Here is some policy inserts to handle termination issues:

1. Transportation:
   a) End of the lease requirements include lessee paying for the return of the equipment to a location     designated by us.
   b) Any requirement to transport equipment due to a default in the lease must be handled in the        following manner.
      1) Transportation should be arranged for, and provided by, an equipment firm familiar with the            equipment and knowledge of how to transport it. The fee for this service should be approved            by the leasing department manager.
      2) If the cost to hire experienced help is beyond reason or if the asset does not require special           handling then the equipment may be transported by lessor personnel provided proper insurance           is in place prior to transport.

2. Storage:
  a) Prior to the return of the equipment, from termination or the legal right to gain possession after a     default, arrangements need to be made for the storage of the equipment.
  b) The first attempt to store equipment that is coming off lease is at the current `lessee's place of    business. This will remove the cost to return it to us and then incur possible additional cost to    transport it to new purchaser.
  c) The second approach is to return the equipment to the original vendor for storage and remarketing    if satisfactory arrangements can be negotiated.
  d) The third approach is to make arrangements to store at a seller of this kind of equipment with     arrangements for resale.
  e) The forth approach is to arrange storage at a location that supports the remarketing of the    equipment making sure it is protected and insured.

3. Insurance:
  a) Prior to taking possession of the equipment it is important to make sure that the equipment is    insured.
  b) If at all possible, the insurance policy currently covering the equipment be extended or modified to     cover the equipment once delivered over to us.
  c) If the lessee's insurance is not in force, or will be terminated upon our possession, insurance must    be placed on the equipment prior to or taking possession.
    1) The insurance must have physical damage coverage equal to the equipment's estimated value.
    2) The insurance must have liability coverage equal to the amount not covered by the Lessor’s      umbrella coverage.

4. Clean up and get ready expenses:
  a) The lease requires the equipment to be returned capable of performing its task; therefore,     
    off-lease equipment should not need anything other than a wash or in some extreme cases a paint     job. The amount to accomplish this will be approved by the Leasing Department Manager
  b) In those cases where equipment is obtained by repossession an estimate of the cost to repair the    equipment and get it ready for sale will be submitted with an estimate of the equipment's sale value    or its estimated value in "as is" condition prior to submitting it to the Leasing Department Manager    for authority to proceed.

5) Remarketing:
  a) The resale of the equipment should begin with the original vendor or someone capable of reaching    the largest market. It also may eliminate storage and insurance costs.

  1. On occasion, if the equipment has been returned due to a default and a commercially reasonably sale must be accomplished to retain deficit proceedings against the lessee:

    1) The representative attorney should be consulted to determine what steps need to be followed to insure commercial reasonableness.

    2) In those cases where the lessee is determined not to be able to handle the deficiency then the equipment must be remarketed in the manner that will maximize the lessor's value in the equipment.

  c) On occasion, if the salvage value is below the booked residual or the street value of the equipment    does not warrant a remarketing effort then steps should be taken to donate the equipment to a    charity to maximize the lessor’s charitable contributions.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at leaseconsulting@msn.com or 502-649-0448

He invites your questions and queries.

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

(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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Top Stories April 2--April 4


Here are the top ten sorties opened by readers:

(1) Marlin Business Services, Mount Laurel, New Jersey
Bulletin Board Complaint
http://leasingnews.org/archives/Apr2012/4_04.htm#marlin

(2) Signature Bank Establishes Signature Financial
Subsidiary Marking Its Entry into the Specialty Financing Arena
http://leasingnews.org/archives/Apr2012/4_04.htm#release

(3) 15 Hottest Leasing Equipment Sectors
Revealed at ELFA Equipment Management Conference
http://leasingnews.org/archives/Apr2012/4_04.htm#efla

(4) Leasing Schemes Court Cases Monthly Update
by Christopher Menkin
http://leasingnews.org/archives/Apr2012/4_02.htm#schemes

(5) Leasing 102 by Mr. Terry Winders, CLP
Broker/Lessor Assignment Protection
http://leasingnews.org/archives/Apr2012/4_02.htm#protection

(6) Open Positions at Leasing Funders/Various Locations
http://leasingnews.org/archives/Apr2012/4_02.htm#positions

(7) New Hires---Promotions
http://leasingnews.org/archives/Apr2012/4_04.htm#hires

(8) Firefighters donate Mega Millions winnings to ailing fellow fireman
http://leasingnews.org/archives/Apr2012/4_04.htm#firefighters

(9) http://www.sterlingcap.net/

(10) Career Crossroad—
“Should I Include a Photo with Resume?”
http://leasingnews.org/archives/Apr2012/4_02.htm#crossroad

 

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 440.871.0555 or gary@avptc.com

 

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

Consumers Do Poorly on Financial Literacy

Washington, DC – In recognition of Financial Literacy Month, the National Foundation for Credit Counseling (NFCC) and the Network Branded Prepaid Card Association (NBPCA) today released the results of the 2012 Financial Literacy Survey. In its sixth year, the survey annually provides data and trending around Americans’ attitudes and behaviors related to personal finance.

The 2012 survey revealed a disturbing lack of basic financial skills that are critical to building a stable financial future. Consider the following results in areas such as budgeting, saving, responsible bill-paying, and money management:

• More than half of U.S. adults, 56 percent, admit that they do not have a budget;
• One-third of U.S. adults, or more than 77 million Americans, do not pay all of their bills on time;
• Thirty-nine percent of adults carry credit card debt over from month-to-month;
• Two in five adults indicated that they are now saving less than they were one year ago, and 39 percent do not have any non-retirement savings; and,
• Twenty-five percent of those who do not currently have non-retirement savings indicated that, if they did begin to save, they would keep their savings at home in cash.

“This year’s survey unveiled some disturbing trends, showing that a significant number of Americans are saving less, spending more, and carrying credit card debt over from month-to-month, suggesting that the painful financial lessons of the past are quickly being forgotten,” said Susan C. Keating, president and CEO of the NFCC. “Coupled with the two in five adults who gave themselves a C, D, or F on their knowledge of personal finance, the need for an increase in financial education becomes not only clear, but urgent.”

For the first time, the 2012 survey evaluated consumer responses related specifically to prepaid debit cards and discovered the following:

• More than one in ten adults (thirteen percent), or about 30.5 million Americans , typically use prepaid debit cards to pay for everyday transactions such as groceries, gas, dining out, paying bills, and shopping online.
• Seventy-eight percent of adults who use prepaid debit cards for everyday transactions say they use them because they are convenient;
• Seventy-three percent use prepaid cards because they feel the cards are safer than carrying cash;
• Seventy-two percent utilize prepaid cards because it allows them not to overspend or spend money they don't have; and,
• Fifty-six percent find that the cards enable them to better manage their money.

“Consumers feel empowered using prepaid debit cards and revealed in the NFCC/NBPCA survey that the top three reasons for using the cards were their convenience, safety and ability to control spending. Additionally, about three in four prepaid debit card users indicated they believed prepaid cards are a better value for their money compared to a credit card or debit card connected to a traditional bank account," said Kirsten Trusko, president and Executive Director of NBPCA.

Methodology
The 2012 Financial Literacy survey was conducted by telephone within the United States by Harris Interactive on behalf of the NFCC and NBPCA between March 16 and March 19, 2012 among 1,007 adults ages 18+, of whom, 89 use prepaid debit cards for everyday transactions. Results were weighted for age, sex, geographic region, and race where necessary to align them with their actual proportions in the population. The full survey will be available Tuesday, April 3, in the Newsroom on the NFCC website www.NFCC.org, and on the NBPCA website at http://nbpca.org/en/Research-and-Publications.aspx.

About the NFCC
The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest and longest serving national nonprofit credit counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services. NFCC Members annually help more than two million consumers through close to 800 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC Member, call (800) 388-2227, (en Español (800) 682-9832) or visit www.nfcc.org. Visit us on Facebook: www.facebook.com/NFCCDebtAdvice, on Twitter: twitter.com/NFCCDebtAdvice, on YouTube: www.YouTube.com/NFCC09 and our blog: http://financialeducation.nfcc.org/.

About the NBPCA
The Network Branded Prepaid Card Association (NBPCA) is a non-profit, inter-industry trade association that seeks to educate, advocate, protect and promote on behalf of network branded prepaid debit cards and represents the common interests of the many types of companies who come together to deliver the wide variety of prepaid products. For additional information, visit www.NBPCA.org.

John Kenny Receivables Management
www.jrkrmdirect.com

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs
John Kenny
315-866-1167 |  John@jkrmdirect.com

 

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

 

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Collie Mix--Rancho Cucamonga, California-- Adopt-a-Dog



Teddy

#1917
Age: 2 years.
Gender: Male.
Type: Shep mix.
Housebroken: Yes.
Children: Yes.
Other Dogs: Yes.
Cats: Unknown.
Dog's Location: Riverside, Collie Haven
Contact: Theresa - sciencelady@gmail.com or 310-366-5573

Adoption Status: Foster Home or Adoptive Home Urgently Needed.

Description:
"This Super Sweet, big, young pup was saved from Death Row at Devore shelter several months ago. We suspect that his great, great, great cousin once-removed, was a collie. Teddy is playful, friendly and outgoing, and would love to have another active dog to play with. Amilio at Collie Haven says, he is 'very cute' and has lots of energy! He's a big puppy; at a perfect age to establish loyalty with his forever family. He is work in progress, but will be a great companion for someone." Teddy is almost finished with an obedience training program and needs a foster or adoptive family who has the time and resolve to reinforce his newly learned skills and get through the remainder of his 'puppy" stage....'."

Southland Collie Rescue - San Bernardino County
Rancho Cucamonga, CA 91730
(909) 987-8617
lassiegal@aol.com
http://www.collie.org


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/ 




News Briefs----

What does Delaney’s resignation from CapitalSource
mean for the company?
http://www.washingtonpost.com/business/economy/what-does-delaneys-resignation-from-capitalsource-mean-for-the-company/2012/04/08/gIQAFfTo4S_story.html

Fed chairman talks up financial reforms in Atlanta
http://www.ajc.com/business/fed-chairman-talks-up-1411878.html

What would happen to the stocks of the largest banks
--if they were forced to break themselves up?
http://www.snl.com/InteractiveX/Article.aspx?cdid=A-14534913-13357

FDIC names former Bear Jim McMahon in Broadway Bank suit
http://www.chicagotribune.com/business/breaking/chi-fdic-names-jim-mcmahon-in-broadway-bank-suit-20120409,0,7803970.story

http://www.businessweek.com/ap/2012-04/D9U1KOB00.htm

Ex-NY bank director gets prison in $60M stock scam
http://seattletimes.nwsource.com/html/nationworld/2017942418_apusstockfraudcharge.html

The surprising reason for record new car prices
http://content.usatoday.com/communities/driveon/post/2012/04/car-prices-hit-record/1

Obama Candidate Sketches Vision for World Bank
http://www.nytimes.com/2012/04/10/business/global/jim-young-kim-sketches-vision-for-world-bank.html?_r=1&ref=business

Ferdinand A. Porsche, Designer of the 911, Dies at 76
http://www.nytimes.com/2012/04/06/automobiles/ferdinand-a-porsche-76-dies-designed-celebrated-911.html?hpw


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You May Have Missed---

ELFF Q2 Equipment Leasing & Finance
U.S. Economic Outlook
http://www.leasefoundation.org/IndRsrcs/EO/


(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)



[headlines]
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SparkPeople--Live Healthier and Longer



Immersion Beats Classroom for Mastering a Foreign Tongue
http://www.sparkpeople.com/resource/health_news_detail.asp?health_day=663085

 

 

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Sports Briefs----

Do the Saints pick up the phone and call Bill Parcells now?
http://sports.yahoo.com/news/saints-pick-phone-call-bill-210604409--nfl.html;_ylt=Asm5Qf3qbBC2kFs1CDpY6_o5nYcB

Miami Marlins’ Ozzie Guillen in political firestorm over Fidel Castro remarks
http://www.miamiherald.com/2012/04/10/2739843/miami-marlins-ozzie-guillen-in.html  

 

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Spring Poem

Written in early spring

        by William Wadsworth

I heard a thousand blended notes
While in a grove I sat reclined,
In that sweet mood when pleasant thoughts
Bring sad thoughts to the mind.

To her fair works did Nature link
The human soul that through me ran;
And much it grieved my heart to think
What Man has made of Man.

Through primrose tufts, in that sweet bower,
The periwinkle trail'd its wreaths;
And 'tis my faith, that every flower
Enjoys the air it breathes.

The birds around me hopp'd and played,
Their thoughts I cannot measure, -
But the least motion which they made
It seem'd a thrill of pleasure.

The budding twigs spread out their fan
To catch the breezy air;
And I must think, do all I can,
That there was pleasure there.

If this belief from heaven be sent,
If such be Nature's holy plan,
Have I not reason to lament
What Man has made of Man?



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California Nuts Briefs---

$7 million raised for 'next Google,' but companies were bogus, feds say
http://www.mercurynews.com/crime-courts/ci_20358692/7-million-raised-next-google-but-companies-were

City Attorney fires back at Mirkarimi lawsuit
http://blog.sfgate.com/cityinsider/2012/04/09/city-attorney-fires-back-at-mirkarimi-lawsuit/?tsp=1


 

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“Gimme that Wine”

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

Sonoma County timber-to-vineyard conversion headed for approval
http://www.pressdemocrat.com/article/20120406/ARTICLES/120409649

Poor Crops Crush Profits: Winemaker CFO
http://www3.cfo.com/article/2012/4/growth-companies_for-one-growing-winemaker-supply-chain-is-key

Winegrape shortage could last six to eight years
http://www.northbaybusinessjournal.com/52141/winegrape-shortage-could-last-six-to-eight-years/

For Reservas, No Cellar Required
http://www.nytimes.com/2012/04/11/dining/reviews/rioja-reservas-wine-review.html?ref=dining


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

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

 

This Day in History

      1777-the Continental Congress held a lottery for the purpose of raising funds. The lottery was approved on November 1, 1776, and seven managers were appointed to conduct it. Treasury bank notes were awarded as prizes, payable at the end of five years. Funds were obtained by lottery by individual colonies at various times prior to this national lottery.
    1790-when Robert Gray docked the Columbia at Boston Harbor this day in 1790, he became the first American to circumnavigate the earth. It took him three years. His 42,000-mile journey opened trade between New England and the Pacific Northwest and helped the US establish claims to the Oregon Territory.
    1794- birthday of, Matthew Calbraith Perry commodore in the US Navy, negotiator of first treaty between US and Japan (Mar 31, 1854). Born at South Kingston, RI. Died Mar 4, 1858, at New York, NY.
    1816-- In Philadelphia, church reformer Richard Allen, 56, was elected the first bishop of the newly-created African Methodist Episcopal (AME) Church. (Previously, in 1799, Allen had been the first black ordained to preach in the Methodist Episcopal Church.)
    1829- The birthday of General William Booth, founder of the movement that became known, in 1878, as the Salvation Army, was born at Nottingham, England. Apprenticed to a pawnbroker at the age of 13, Booth experienced firsthand the misery of poverty. He broke with conventional church religion and established a quasi-military religious organization with military uniforms and ranks. Recruiting from the poor, from converted criminals and from many other social outcasts, his organization grew rapidly and its influence spread from England to the US and to other countries. At revivals in slum areas the itinerant evangelist offered help for the poor, homes for the homeless, sobriety for alcoholics, rescue homes for women and girls, training centers and legal aid. Booth died at London, England, Aug 20, 1912.
    1845-Erastus Brigham Bigelow received a patent for his invention of gingham manufacturing machinery. Previously, all gingham had been made by hand at home. He capitalized Lancaster Mills at $500,000 and opened it in 1846 in Clinton, MA.
    1847 -- Joseph Pulitzer born, Budapest (or Makó), Hungary. Bought the New York World in 1883. In 1885 he was elected to Congress from New York, but resigned. In the 1890s Pulitzer had a circulation war with William Randolp Hearst, & his newspapers were accused of "yellow journal" practices. Through his will, he established the Columbia University School of Journalism and annual prizes for literature, drama, music, & journalism. Leasing News "Mission" is based on his retirement speech:
http://www.leasingnews.org/Mission_Statement.htm
http://www.spartacus.schoolnet.co.uk/Jpulitzer.htm
http://www.pulitzer.org/history.html
    1849- Walter Hunt of New York patented the first safety pin. Within the space of three hours, he conceived the idea, made a model, and then sold his patent rights for $100.
    1854--Two earthquake shocks San Francisco, one at 10:30 a.m. and another 15 minutes later, were felt. The second was the most severe, and more violent at Pt. Lobos
    1866-Henry Bergh organized the American Society for the Prevention of Cruelty of Animals, patterning it after the Royal S.P.C.A. of London. He returned to New York City after a trip to St. Petersburg, Russia, where he was appalled by the beatings which droshky drivers in Russia administered to their horses.
    1877-Nathanael Greene Herreshoff of Providence, RI, received a patent for a boat on two parallel hulls. He called it a “catamaran”. This jointed boat is still used today, principally by lifeguards at public beaches.
    1878 -- In San Francisco, the California Street Cable Car Railroad Company starts service.
http://www.cable-car-guy.com/html/ccsf.html
    1880-birthday of Frances Perkins, first woman member of a US presidential cabinet. Born at Boston, MA, she was married in 1915 to Paul Caldwell Wilson, but used her maiden name in public life. She was appointed secretary of labor by President Franklin D. Roosevelt in 1933, a post in which she served until 1945. Died at New York, NY, May 14, 1965.
    1894 - A heavy late season snow blanketed parts of the northeastern U.S. Heavier snowfall totals included 31.5 inches at Salem Corners PA, 30 inches at LeRoy NY, 26 inches at York PA, 14 inches at Waterbury CT, and 9 inches at Providence RI.
    1872—The First Arbor Day.
http://memory.loc.gov/ammem/today/apr10.html
    1913-- In a game which features President Woodrow Wilson throwing out the first pitch, Washington's Walter Johnson gives up an unearned run in the first inning of the home opener but will not yield another for 56 innings. The Senators beat the Yankees, 2-1.
    1915-birthday of Harry Morgan, a New York actor, close friend of Clifford Odets, and many of the fine actors, who moved to Hollywood and became a hit on "December Bride", then "Pete and Gladys, then went to M*A*S*H and to Dragnet, among others.
    1916- A number of golf professionals are invited to lunch at the Taplow Club on January 17, by Rodman Wanamaker to discuss the feasibility of forming a national association of golf professionals. PGA of America founded April 10 in New York City with 35 charter members, says the official site, but history books state the number at 83 “ Following the organizational luncheon meeting called by Rodman Wanamaker in January, 82 charter members approved a constitution to create the Professional Golfers' Association of America. The members agreed to promote interest in the game of golf, elevate the standards of the golf professional's vocation, protect their mutual interests and establish a national professional championship. 
    1917- birthday of the “Beautiful Mind,” Robert Woodward, Nobel Prize--winning (1965) Harvard University science professor whose special field of study was molecular structure of complex organic compounds. Called "one of the most outstanding scientific minds of the century." Born at Boston, MA, he died at Cambridge, MA, July 8, 1979.
    1921-birthday of Chuck Connors ( Kevin Joseph)."The Rifleman" of television fame, Chuck Connors played that role from 1958 to 1963. His portrayal of a slave owner in the miniseriesRoots won him an Emmy nomination. Connors acted in more than 45 films and appeared on many TV series and specials. He played professional basketball , recorded in history as the first player to break the basketball player to break the basketball backboard in a game in Boston. He also played baseball before becoming an actor. Born at Brooklyn, NY; died Nov 10, 1992, at Los Angeles, CA. ( My father Lawrence Menkin wrote many of “The Rifleman” scripts.)
    1921 – birthday of Sheb Wooley (CMA comic of the Year [1968]; singer, songwriter: The Purple People Eater, Are You Satisfied, Hee Haw theme; actor: Rawhide, High Noon, Rocky Mountain, Giant, Hoosiers)
http://www.classicimages.com/1998/march98/shebwooley.html
    1925 -- F. Scott Fitzgerald's The Great Gatsby is published. Eventually his best-known work of the Jazz Age, sales are disappointing. A dispassionate examination of blandness and emptiness in the lives of tycoons and flappers was acclaimed by critics, but was not a popular success. In the 1950's, the book was re-published with great popular acclaim among colleges and universities.
http://en.wikipedia.org/wiki/The_Great_Gatsby
    1928-- saxophonist Fraser MacPherson, one of the most respected jazz musicians in Western Canada, was born in Winnipeg. A resident of Vancouver from 1948 on, MacPherson received international attention in 1975 with his LP, "Fraser: Live at the Planetarium." It was recorded with his trio, featuring guitarist Oliver Gannon and bassist Wyatt Ruther. MacPherson died of cancer on September 27th, 1993.
    1930—Birthday of rhythm and blues singer Ray Agee
http://www.alamhof.org/ageer.htm
    1933 - The Civilian Conservation Corps, a tool for employing young men and improving the government's vast holdings of western land, is created in Washington, D.C. One of the dozens of New Deal programs created by President Franklin D. Roosevelt to fight the Great Depression, the Civilian Conservation Corps (CCC) was primarily designed to put thousands of unemployed young men to work on useful public projects. By the time Congress abolished the agency in 1942, more than two million men had served, making the CCC one of the most successful government training and employment projects in history.
    1935 - Severe dust storms across Iowa and Kansas closed schools and highways. Dodge City KS experienced its worst dust storm of record, with dense dust reported from the morning of the 9th until after sunset on the 11th. The sky was almost as dark as night at times during the daylight hours. The thick dust suspended traffic on highways and railroads, and also suspended most business in town.
    1939-Glenn Miller records “Little Brown Jug,” “Sunrise Serenade” (Bluebird 10286, 10214)
    1941-Jimmy Rushing records “Goin' to Chicago” with County Basie (Okeh 6244)
http://library.thinkquest.org/10320/Rushing.htm 
http://www.blueflamecafe.com/index.html
http://www.audio-archives.com/catalogue/fiches/e_Jazz_8.htm
    1942- On this morning American and Filipino prisoners were herded together by Japanese soldiers on Mariveles Airfield on Bataan (in the Philippine islands) and began the Death March to Camp O'Donnell, near Cabanatuan. During the six-day march they were given only one bowl of rice. More than 5,200 Americans and many more Filipinos lost their lives in the course of the march.
    1942--BULKELEY, JOHN DUNCAN Medal of Honor
Rank and organization: Lieutenant Commander, Commander of Motor Torpedo Boat Squadron 3, U.S. Navy. Place and date: Philippine waters, 7 December 1941 to 10 April 1942. Entered service at: Texas. Born: 19 August 1911, New York, N.Y. Other awards: Navy Cross, Distinguished Service Cross, Silver Star, Legion of Merit. Citation: For extraordinary heroism, distinguished service, and conspicuous gallantry above and beyond the call of duty as commander of Motor Torpedo Boat Squadron 3, in Philippine waters during the period 7 December 1941 to 10 April 1942. The remarkable achievement of Lt. Comdr. Bulkeley's command in damaging or destroying a notable number of Japanese enemy planes, surface combatant and merchant ships, and in dispersing landing parties and land-based enemy forces during the 4 months and 8 days of operation without benefit of repairs, overhaul, or maintenance facilities for his squadron, is believed to be without precedent in this type of warfare. His dynamic forcefulness and daring in offensive action, his brilliantly planned and skillfully executed attacks, supplemented by a unique resourcefulness and ingenuity, characterize him as an outstanding leader of men and a gallant and intrepid seaman. These qualities coupled with a complete disregard for his own personal safety reflect great credit upon him and the Naval Service.
    1945-- U.S. Armed forces liberated the prison camp at Buchenwald, Germany. It was estimated that nearly 57,000 prisoners (mostly Jews) perished in the gas chambers of Buchenwald during its eight-year existence as a Nazi concentration camp.
    1947 ----During the sixth inning of an exhibition game against their minor league team at Ebbets Field, the Montreal Royals, Dodgers' president Branch Rickey issues a two sentence statement to the press which will forever change the game. It reads "The Brooklyn Dodgers today purchased the contract of Jackie Roosevelt Robinson from the Montreal Royals. He will report immediately."
http://www.jackierobinson.org/jackie/
    1953 - Eddie Fisher discharged from the Army, arrived home to a nice paycheck of $330,000 in record royalties. Fisher sold 7 million records for RCA Victor while on furloughs. "Anytime" was just one of several hits recorded during his stint in the Army. He was the most popular male singer in his day, until he abandoned Debbie Reynolds for Elizabeth Taylor. His fans disappeared overnight.
http://burcher.stuart.tripod.com/index-7.html
http://www.cdmo.com/cgi-bin/cdmo/83785-10312-
    1953 -- House of Wax, the first 3-D movie, released in New York.
We were living in Larchmont, New York, and I remember going to the movies on a Saturday afternoon for 15 cents each, wearing the glasses, and I think at the time my brother and I thought the movie was stupid; it didn't scare us at all. (We were eleven and ten years old.)
http://www.imdb.com/title/tt0045888/
    1954---Perry Como's "Wanted" hits #1
    1955 --Dr Jonas Salk successfully tests Polio vaccine.
    1956--Top Hits
Heartbreak Hotel - Elvis Presley
The Poor People of Paris - Les Baxter
(You've Got) The Magic Touch - The Platters
Blue Suede Shoes - Carl Perkins
    1956--Nat "King" Cole is attacked and severely beaten by a group of racial segregationists while singing onstage at the Municipal Hall in Birmingham, Alabama.
    1956-- Leo Fender patents the successor to his popular "Telecaster" model of electric guitar, this time called the "Stratocaster."
    1957-- Ricky Nelson, then all of sixteen, performs his recently-recorded version of Fats Domino's "I'm Walkin'" -- done to impress a date -- on his family's TV sitcom, ABC the Adventures of Ozzie and Harriet. The record sells half a million copies in the next week alone.
    1958 - Dick Clark devoted an hour of his "American Bandstand" afternoon TV show to the memory of Chuck Willis who had died earlier in the day from peritonitis. Willis was from Atlanta, GA and recorded hits that included: "C.C. Rider", "Betty and Dupree", "What Am I Living For" (his biggest hit) and "Hang Up My Rock and Roll Shoes". Willis was a noted rhythm and blues singer and songwriter of the early rock era.
    1960--- 24th Golf Masters Championship Arnold Palmer wins, shooting a 282.
    1961-South African Gary Player shot an 8-under par 280 to become the first foreign player to win the Masters. Player, defeated Arnold Palmer and Charley Coe by one stroke. He won the tournament again in 1974 and 1978.
    1961--- In the last opener ever to be played at Griffith Stadium, rookie president JFK throws out the longest and hardest thrown ceremonial first pitch in history as the ball sails over the heads of the players lined up in front of the presidential box. The newly elected commander in chief, an avid Red Sox fan, stays for the entire game and sees the 'new' Washington Senators, the former team moved to Minnesota, play their first game losing to the White Sox, 4-3.
    1963- the Houston Colt .45s, a National League expansion team, hosted the first major league game ever played in Texas, beating the Chicago Cubs, 11-2, before 25,000. The Colt .45s finished the year in eight place with a record of 64-96. Renamed the Astros in 1965, they won their first division title in 1980.
    1964---Top Hits
Can't Buy Me Love - The Beatles
Twist and Shout - The Beatles
Suspicion - Terry Stafford
Understand Your Man - Johnny Cash
    1965-Freddie and The Dreamers hit #1 in the US with "I'm Telling You Now."
    1967 – 39 th Annual Academy Awards held at the Santa Monica Civic Auditorium. Bob Hope was the host. ""Virginia Woolf" won Best Costume Design/Black-and-White (Irene Sharaff) and "Seasons" won the award in the Color category (Joan Bridge and Elizabeth Haffenden); "Seasons" also won Best Cinematography/Color (Ted Moore) and "Virginia Woolf" the Black-and-White division (Haskell Wexler). Then "Virgina Woolf" won for Best Art Direction/Set Decoration, Black-and-White (George James Hopkins, Richard Sylbert) while "Seasons" took the Oscar for Best Writing/Screenplay Based on Material from Another Medium (Robert Bolt). They were tied. Best Supporting Actress: "Who's Afraid of Virginia Woolf" (Sandy Dennis), but Best Supporting Actor went to Walter Matthau in "The Fortune Cookie". "Virginia Woolf", ahead by one. The Best Music/Song Oscar went to "Born Free" (John Barry-music, Don Black-lyrics) from the movie of the same title. The fight was still on since neither "Seasons" nor "Virginia Woolf" was nominated in that category. The Academy Award for Best Actress went to Elizabeth Taylor for "Who's Afraid of Virginnia Woolf. The Best Picture of 1966 winner as "A Man for All Seasons", Fred Zinnemann, producer.
http://www.infoplease.com/ipa/A0149051.html
    1967-British Invasion band Freddie and the Dreamers hit Number One in the U.S. with "I'm Telling You Now." Their only other hit, the dance the song "Do the Freddie" would hit #18 on the pop chart within several weeks.
1968-Rolling Stone reports Mickey Hart has joined the Grateful Dead at the invitation of drummer Bill Kreutzmann.
    1968 –The Academy of Motion Picture Arts and Sciences postponed the 40th Annual Academy Awards ceremonies two days because of the assassination of Dr. Martin Luther King. It was held at the Santa Monica Civic Auditorium. Bob Hope was the host. The Best Picture of
    1967--- "In the Heat of the Night" (Walter Mirisch, producer), and "Guess Who's Coming to Dinner" (Best Actress: Katharine Hepburn—She is the only actress to win the award two consecutive years in a row Guess Who's Coming to Dinner (1967) and The Lion in Winter , plus the most Best Actress Awards *(1968and Best Writing/Story and Screenplay/Written Directly for the Screen (William Rose), . "Heat" won four more Oscars that evening: Best Actor (Rod Steiger); Best Writing/Screenplay Based on Material from Another Medium (Stirling Silliphant); Best Sound (Samuel Goldwyn SSD); Best Film Editing (Hal Ashby). Best Supporting Actor George Kennedy ("Cool Hand Luke"), Best Supporting Actress Estelle Parsons ("Bonnie and Clyde"); Best Music/Song, "Talk to the Animals" from "Doctor Dolittle" (Leslie Bricusse). Mike Nichols who lost to "The Man for All Seasons" the previous year, won this time, as Best Director for "The Graduate". Other serious contenders for the golden statuette were: "Casino Royale", "Thoroughly Modern Millie", "The Dirty Dozen", "Divorce American Style", "Camelot", "The Jungle Book", "Far from the Madding Crowd", "Valley of the Dolls", "In Cold Blood", "Barefoot in the Park".
http://www.infoplease.com/ipa/A0149089.html

Best Actress

 

Katharine Hepburn

4

Ingrid Bergman

2

Bette Davis

2

Sally Field

2

Jane Fonda

2

Jodie Foster

2

Olivia de Haviland

2

Glenda Jackson

2

Vivien Leigh

2

Luise Rainer

2

Elizabeth Taylor

2

    1969 ---Met center fielder Tommy Agee hits a monster shot into the upper deck in left field making it the longest home run to reach the seats in Shea Stadium history; Disc commemorating Agee's historic homer at Shea Stadium.
    1970-- The Russian Orthodox Church in America was granted autocephalic independence by its Mother organization, the Russian Orthodox Church. Headquartered today in Syosset, New York, membership in this religious body currently numbers approximately one million.
    1970 - Officially resigning from The Beatles, Paul McCartney disbanded perhaps the most influential rock group in history at a public news conference. The Beatles hit, "Let It Be", was riding high on the pop charts. The last recording for the group, "The Long and Winding Road" (also from the documentary film "Let It Be"), would be number one for two weeks beginning on June 13, bringing to a close a chapter in rock and roll music.
    1971-- John Denver's "(Take Me Home) Country Roads" enters the charts
    1971--- Despite temperatures in the low 40s, a crowd of 55,352, the largest in the history of Pennsylvania ever to watch a baseball game, witness the Phillies first game at Veterans Stadium. Jim Bunning throws the first pitch and Larry Bowa singles, for the park's first hit, as Philadelphia defeats the Expos, 4-1.
    1972---Top Hits
A Horse with No Name - America
The First Time Ever I Saw Your Face - Roberta Flack
I Gotcha - Joe Tex
My Hang-Up is You - Freddie Hart
    1972 - The 44th Annual Academy Awards celebration was held at Los Angeles' Dorothy Chandler Pavilion. The hosts of the evening's festivities: Helen Hayes, Alan King, Sammy Davis Jr., and Jack Lemmon. The nominees were: "A Clockwork Orange", "Fiddler on the Roof", "The Last Picture Show", "Nicholas and Alexandra" and "The French Connection". And the Oscar goes to ... "The French Connection", Philip D'Antoni, producer. The Oscar also went to "The French Connection" for Best Director (William Friedkin); Best Actor (Gene Hackman); Best Writing/Screenplay Based on Material from Another Medium (Ernest Tidyman); and Best Film Editing (Gerald B. Greenberg). All of the other Best Picture nominees (except "A Clockwork Orange") also received Oscars: "The Last Picture Show" won for both supporting actor and actress (Ben Johnson and Cloris Leachman respectively); "Fiddler on the Roof" won for Best Cinematography (Oswald Morris), Best Sound (Gordon K. McCallum, David Hildyard) and Best Music/Scoring Adaptation/Original Song Score (John Williams); "Nicholas and Alexandra" won the awards for Best Art Direction/Set Decoration (John Box, Ernest Archer, Jack Maxsted, Gil Parrondo, Vernon Dixon) and Best Costume Design (Yvonne Blake, Antonio Castillo). "Klute" won one out of its two nominations: Best Actress (Jane Fonda) and "Shaft" won its only nomination: Best Music/Song (Isaac Hayes, "Theme from Shaft". Other films from 1971 that received accolades: "Willy Wonka & the Chocolate Factory"; "Sunday Bloody Sunday"; "Carnal Knowledge"; "Summer of '42", "Bedknobs and Broomsticks"; "Mary, Queen of Scots"; and "McCabe & Mrs. Miller".
http://www.infoplease.com/ipa/A0149208.html
    1976-Peter Frampton went to #1 on the Billboard album chart with "Frampton Comes Alive". The LP would stay on the chart for 97 weeks and sell over 6 million copies. It is still the fourth largest selling 'live' album of all time, behind Garth Brooks' "Double Live", "Bruce Springsteen and the E Street Band Live 1975 - '85" and "The Eagles Live".
    1979 - A massive tornado smashed into Wichita Falls, TX, killing 43 persons and causing 300 million dollars damage. Another tornado struck Vernon TX killing eleven persons.
    1982-"Ebony and Ivory" a duet by Stevie Wonder and Paul McCartney, debuts on the U.S. charts at #29. It will go on top be Number One in both the U.S. and U.K., becoming Wonder's first British Number One
    1985 - Relief pitcher Dan Quisenberry was signed by the Kansas City Royals to a contract that promised he would “...never wear another uniform.” The lifetime pact was worth $43 million, after taxes, over a 40-year period. Quisenberry became known as the ‘Fireman', for putting out late-inning fires and saving games for the Royals. The contract made him the game's highest-paid reliever.
    1985 - Eddie Murphy's "Beverly Hills Cop" made it to the top ten on the list of top-grossing motion pictures. The film, at number nine on the list, was the only R-rated and non-summer movie to make the list.
    1988 - It was a big day on Wall Street as 48 million shares of Navistar International stock changed hands in a single-block trade. It was the largest transaction executed (to that time) on the New York Stock Exchange.
    1988---Top Hits
Get Outta My Dreams, Get Into My Car - Billy Ocean
Out of the Blue - Debbie Gibson
Devil Inside - INXS
Famous Last Words of a Fool - George Strait
    1989 - Strong northerly winds, gusting to 53 mph at Albuquerque, NM, ushered cold arctic air into the south central U.S. The temperature at Albuquerque plunged from 82 degrees to 29 degrees overnight. Thirty-three cities in the central U.S. reported record low temperatures for the date, including Goodland KS with a reading of 4 degrees above zero.
    1989-- Alabama was named artist of the decade by the Academy of Country Music. The country-rock band had had 21 consecutive number-one hits, including "Feels So Good," "The Closer You Get" and "Roll On." Marty Robbins had won the honor in the 1960's, and Loretta Lynn in the '70s.
    1990 - Thunderstorms produced severe weather from the Central Gulf Coast Region to western sections of the Carolinas during the afternoon and evening. Evening thunderstorms over western South Carolina produced wind gusts to 98 mph which injured four persons at Holly Springs, and wind gusts to 100 mph which injured one person and caused half a million dollars damage north of Dacusville.
    1995-- NYC bans smoking in all restaurants that seat 35 or more.
    1999- "Here, There and Everywhere: A Concert For Linda," a charity tribute concert for the late Linda McCartney is held at the Royal Albert Hall in London. Among the performers are Paul McCartney, Chrissie Hynde of the Pretenders, Elvis Costello, Sinead O'Connor, and George Michael. Proceeds raised funds for animal rights causes.
    2000-- On his father's 50th birthday, Ken Griffey Jr. becomes the youngest player (30 years, 141 days) to hit 400 career homers beating Jimmie Foxx's previous mark
(30 years, 248 days old).
    2003 --By hitting his 31st career leadoff homer, Astros' outfielder Craig Biggio breaks Bobby Bonds' National League record. The major league mark of 80 belongs to Rickey Henderson.
    2003-- In a 7-6 victory over the Cardinals at Coors Field, the Rockies turned the first triple play in club history. With Scott Rolen on second base and Tino Martinez on first, Colorado's first baseman Todd Helton catches Orlando Palmeiro's soft liner for the first out and throws to shortstop Jose Hernandez who steps on second for the second out and then tags Martinez to complete the triple killing.
    2005 - Heavy snow affected the Colorado Rockies during April 10-11, as up to 30 inches of snow affected the mountains around Denver. In the Denver metro area, 10-15 inches of snow accumulated.

NBA Finals Champions This Date

    1953---Minneapolis Lakers
    1955 Syracuse Nationals

Stanley Cup Champions This Date

    1934 Chicago Blackhawks
    1956 Montreal Canadiens


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