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


Friday, April 4, 2014

Today's Equipment Leasing Headlines

Archive---April 4, 2012
 Marlin Business Services, Mount Laurel, New Jersey
  Bulletin Board Complaint
   Classified Ads---Credit
 Continental Bank Acquires Summit Leasing
  Marlin Leasing Getting Back into Broker Business
   Ascentium Capital Hits 35% Volume Increase 1st Quarter
    Classified Ads--Help Wanted
News Hires—Promotions
 Municipalities and their Budgets
  (and this means sales opportunities)
   Investment in equipment and software to grow 4.2%
    ELFF Second Quarter Outlook
 Leasing Conferences---Update
  Oakland, Ca. Bank Manager Charged Stealing $15 Million
   Australian Cattle Dog/Pointer
    Salt Lake City, Utah Adopt-a-Dog
     Cesar Chavez/The Raid 2/The Great Beauty
   Inside Llewyn Davis/Anchorman 2: The Legend Continues
    Fernando Croce FILM/DVD Reviews
News Briefs---
Rail Equipment Finance 2014 roundup
 Mortgage rates nudge up before jobs report
  SEC Fraud Case Against Michaels Billionaire Kicks Off
   Anadarko Pays Billions In Settling Toxins Case
    David Letterman to Retire in 2015
     Top Ten Comics Who Could Replace David Letterman
      Star-Ledger Announces Big Staff Reductions
       Tesla wants to replace side-view mirrors with cameras
        Oldest living screen stars
         Sales of Nest Smoke Detector Halted

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months (Be Careful of Doing Business)

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    Sports Briefs---
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Archive---April 4, 2012

Marlin Business Services, Mount Laurel, New Jersey
 Bulletin Board Complaint

Leasing News has attempted since March 22, 2012 to contact officers at Marlin Leasing, with over six emails to one officer, including four telephone calls, as well as two emails to four officers followed up with two telephone calls. The emails included the complaint as well as the documents, and the telephone calls were follow-up to the emails.

There has been no response.

Ken J. Krebs
Beneficial Capital 
(800) 886 - 8944

“I’ve been in this industry for about twenty years and although the past three have been rough, overall it has been a great experience.  We have worked closely with so many quality people over the years, many who unfortunately are no longer around...I’m looking for some help, and hoping you may be able and willing.  One of our Lessee’s contracts, that had been sold to Marlin, was put into auto renewal because the Lessee neglected (forgot) to exercise their purchase option.  The contract was originally structured with two payments in advance as security deposit, followed by 60 monthly payments, and a 10% purchase option. They’ve recently realized they have now made 65 payments (five extra).  In an effort to settle, they have offered to pay Marlin an additional $1,500 and to forfeit the return of their security deposit.  This is a $25,000 contract with a $2,500 purchase option.  The security deposit amount is $1,196.36.  So, they are offering $1,500 plus $1,196.36 to settle the $2,500 purchase option.  If accepted, this would give Marlin an additional 5 full payments plus $196.36. Marlin has declined the offer and in turn has requested an additional $3,000 payment as well as forfeiture of the security deposit. Can you help with this?"


Patrick and Cynthia Tingling
D'Lor Salon & Spa
Atlanta, Georgia

“This is Patrick & Cynthia Tingling Owners of D’Lor Salon & Spa in Atlanta. We Regret that we have to take this course of action.
We feel that Marlin has received enough funds for the value of the equipment that was leased. We are willing to meet our obligations if they would meet us half way... the experience with marlin have left us a bad taste, hopefully you will be able to make sense to then that sometimes goodwill is far more valuable than driving customers away from the industry.
We must make a decision by tomorrow in order to prevent another monthly deduction from our bank account.
Patrick and Cynthia..."

It appears the lease payments are ACH and the lessee was not aware that the original lease was up until they had made five extra payments on a 10% Purchase Option, which they are will to make: 

There is no doubt this is not a "true lease" but a "capital lease" or "loan" in many states. This lease has a Pennsylvania choice of law and a Pennsylvania mandatory forum -- even though the lessee is in Georgia, the vendor is in Missouri, and there is absolutely no connection to Pennsylvania.

Michael J. Witt, Esq.
4342 Oakwood Lane
West Des Moines, IA 50265
Tel: (515) 657-8706
Mobile: (515) 868-1067
Fax: (515) 223-2352

“In my opinion Marlin stands on shaky grounds here.  Most so-called ‘10% purchase option’ transactions in the small-ticket arena are not true leases under UCC 1-302 but are, instead, loans.  It is preposterous to say that a loan can have an ‘automatic renewal’ provision.  (How would anyone feel if, after paying off their mortgage over 30 years, the bank called and said the mortgage had "automatically renewed" for an additional 12-month period based on an auto-renewal clause hidden in the fine print?!) 

“Marlin, we must all admit, was entitled to a particular return at the end of the 5-year term of this lease.  However, it is now trying to illegitimately (in this one attorney's opinion) bloat its originally planned-for return by taking advantage of the fact that when this small-business lessee took out this lease in 2006, it did not purchase a un-purchasable 2011 calendar to mark the date it was required to notify Marlin not to renew the lease. 

“Few people know that if Marlin did not have an auto-renewal program, it would be losing money (which only begs the question, how much longer do Marlin investors think that this flimsy business model can endure?).  If this is not a true crime under our criminal codes, it is a crime against the industry that so many of us try to uphold every day we go to work.”

D’Lor Salon & Spa Lease Contracts:


Classified Ads---Credit

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

Credit, syndication, workout experience
Exceptional work ethic, common sense coupled with practical experience in equipment finance, consumer, commercial. Can interact with all levels of borrowers and intermediaries. Not an originator – but can help sales team close – great up sell ability. Will relocate for the right opportunity AND can work

Orlando, Florida
As a Commercial Credit Analyst/Underwriter, I have evaluated transactions from sole proprietorships to listed companies, across a broad spectrum of industries, embracing a multitude of asset types. Sound understanding of balance sheet, income statement and cash flow dynamics which impact credit decisions. Strong appreciation for credit/asset risk.
407 430-3917

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:



Continental Bank Acquires Summit Leasing

Continental Bank, Salt Lake City, Utah and Summit Leasing, Inc., Yakima, Washington have entered into a definitive agreement whereby Continental will acquire all of the issued and outstanding stock of Summit. Following the acquisition, Summit with $34 million in assets and its 10 employees will become a wholly-owned direct, operating subsidiary of Continental. Pending FDIC approval, this transaction is expected to close during the 2nd quarter.

Continental Bank is committed to contining the excellent reputation that Summit has built, serving the northwest region in providing responsive and professional service to its customers. This acquisition will compliment Continental’s future growth initiatives.

Continental Bank is an FDIC insured bank located in Salt Lake City, Utah, specializing in equipment financing, with total assets of $139 million as of December 31, 2013.




Marlin Leasing Getting Back into Broker Business

While there has been no announcement, the list of the 39 exhibitors at the May 1-3 National Association of Equipment Leasing Brokers 2014 Annual Meeting being held at the Caribe Royale Hotel, Orlando, Florida, includes Marlin Equipment Finance (formerly known as Marlin Leasing):

2014 NAELB Annual Conference Exhibitors

360 Equipment Finance
Amerisource Funding
Axis Capital
Banc of California, N.A.
Bankers Capital
Blue Bridge Financial LLC
Bryn Mawr Funding
BSB Leasing
Channel Partners LLC
CLP Foundation
Dakota Financial, LLC
Facteon, Inc.
Financial Pacific Leasing, LLC
First Federal Leasing
Fora Financial
Great American Insurance
IOU Central Business Lending
KS State Bank, Baystone Government Finance
Marlin Equipment Finance
Maxim Commercial Capital LLC
Merchant Cash and Capital, LLC
Microbilt Corporation
NCMIC Finance Corporation
NFS Leasing
North Mill Equipment Financing LLC
Orange Commercial Credit
Pacific Western Equipment Finance
Paradigm Equipment Finance
Pawnee Leasing Corporation
Pinnacle Specialty Capital
Preferred Business Solutions
Quiktrak, Inc.
RLC Funding
TEAM Funding Solutions
Varilease Finance, Inc.

Marlin has been active not only with vendor programs, but in business loans, which seems to be the direction the small ticket marketplace has been headed the last few years; shorter terms, more liberal approvals, better yields (they claim). Insurance and other fees are attractive.

On page 8 of their 2013 10-K filing:

"Of our 285 total employees as of December 31, 2013, we employed 124 sales account executives, each of whom receives a base salary and earns commissions based on his or her lease and loan originations. We also have six employees dedicated to marketing as of December 31, 2013.

Our direct sales origination channels, which account for approximately 94% of the active lease contracts in our portfolio, involve:

Independent Equipment Dealer Solicitations…. Our typical independent equipment dealer has less than $10.0 million in annual revenues and fewer than 40 employees.

Major and National Accounts…. larger independent dealers, distributors and manufacturers…

End User Customer Solicitations. This channel focuses primarily on soliciting our existing portfolio of approximately 63,000 end user customers for additional equipment leasing or financing opportunities…

Indirect Channels. Our indirect origination channels account for approximately 6% of the active lease contracts in our portfolio and consist of our relationships with lease brokers and certain equipment dealers who refer end user customer transactions to us for a fee or sell us leases that they originated with end user customers.”
--- page 6

“In May 2000, we established AssuranceOne, our Bermuda-based, wholly-owned captive insurance subsidiary, to enter into a reinsurance contract with the issuer of the master property insurance policy…. During the year ended December 31, 2013, income recognized in connection with our insurance product covering equipment not financed through the Company comprised approximately $0.2 million of our total insurance income of $4.9 million.

From page 9:

Equipment Leased

States Leased

January 29, 2009 ended its broker business, according to a letter from Ed Siciliano, Senior Vice President Chief Sales Officer (1). In reality, no matter the lack of this information in SEC filings, about 20 brokers remained (according to at least six who told me they were still sending third party originations). In the last two years, the list has grown, but from the NAELB Conference list of exhibitors, looks like Marlin is back seeking more business through independents.

(Note: NAELB Conference---Other funders can still exhibit and registration is open for attendance. Information and “quick links” located here:

  1. Marlin Shuts Down Broker Division

10-K Marlin Business Services—104 pages

Marlin Leasing Stories

Working Capital Loans $10,000-$250,000


Ascentium Capital Hits 35% Volume Increase 1st Quarter

Ascentium Capital, Kingwood, Texas reports a 35% increase in volume with assets near $500 million for the first quarter of 2014 (an increase of 57%). The company closed a $200 million securitization in March. The underwriters of the transaction were Bank of America, Credit Suisse and JP Morgan Chase Bank. Moody’s Investors Service and DBRS issued the highest possible ratings, Aaa and AAA, respectively, on Ascentium Capital’s senior class of notes in their second securitization which closed.

The company is backed by the strength of leading private investment firms Vulcan Capital and LKCM Capital Group, LLC.

Tom Depping

“We experienced client demand across our specialized industries resulting in another quarter of solid growth,” said Tom Depping, Chief Executive Officer at Ascentium Capital. “We continue to have an advantaged portfolio and an impressive pipeline of new vendor relationships that position us well for future.”

Richard Baccaro
Exec. VP, Sales/Marketing

"We continue to invest heavily in our future to redefine the finance experience and to ensure it is leading-edge,” commented Richard Baccaro, Executive Vice President of Sales and Marketing. This allows our vendors and clients to capture more opportunities and realize greater revenue.”


Leasing Industry Help Wanted


Credit Manager
Fort Collins, Colorado

Responsible for the daily management of the underwriting efforts in the credit department on transactions up to $75,000 Click here for more informationn
-Est. 1982, specializing in the under $75,000
marketplace to smaller, closely-held businesses--




News Hires—Promotions

Ron Biederman named Business Development Director at Data Networks Internationa,l Sparta, New Jersey. Previously, he was Senior Account Executive, Tri-Cor Flexible Packaging, Inc. (April 2012–2014); Account Manager Southeast Commercial and Federal, 1E (July 2010–April 2012); Business Development Manager, 1E (July 2010–March 2011); Business Development Associate, Revelwood (COGNOS/IBM Business Partner & Varicent Business Partner) (April 2007–October 2009); Inside Sales Executive- West Coast, Radware (March 2006–November 2006); Sr. Account Executive, Computel Communication Systems (July 2002 – February 2006); Account Executive- West Coast/ Equipment Finance Division Conseco, Inc. (formerly Green Tree Vendor Services) (February 1999 – May 2002). Committee member, Organizations: Shade Tree Commission- The Town of Newton (September 2013-Present) ;Association for Financial Professionals (Member since 2007); HRPA - Human Resources Professionals Association (HRPA) Equipment Leasing and Finance Association (Member since 1998).

James Blandi named Managing Director at LFC Capital, Inc., Chicago, Illinois. Previously he was Independent Healthcare Consultant specializing in Diagnostic Imaging (June 2013–February 2014); Strategic Services Sales - Product Manager, Imaging Services, LLC (January 2012–June 2013); Director, New Business Development and Interim Sales Manager, Shared Imaging, LLC (January 2011–January 2012); National Inside Sales and Marketing Manager, Shared Imaging, LLC (January 2009–January 2011); Regional Sales Manager, Shared Imaging, LLC (April 2008–December 2008); Sales Representative, Insight Imaging (July 2007–April 2008); VP of Sales, Imbue, Technology Solutions, Inc. (January 2005–June 2007); Volunteer Experience & Causes: Volunteer, Habitat for Humanity International (January 2002–Present). Education: Florida International University - College of Business Administration, Business Administration (1986–1988). Culinary Institute of America, Culinary Arts (1984 – 1986). Activities and Societies: Worked with CEO, Ferdinand Metz, on catering events. Wine Society. Fox Chapel High School

Maurice J. Curran IV appointed Director at Convergent Wealth Advisors, New York, New York. Previously, he was Member, Neptune (April 2012–December 2013); Senior Vice President - Sales and Business Development, Gerson Lehrman Group (November 2002–April 2012); Associate, Credit Suisse Asset Management (Formerly Donaldson Lufkin and Jenrette "DLJ") (April 2001–November 2002); Naval Officer - Surface Warfare, US Navy (1995–2001). Education: Cornell University - S.C. Johnson Graduate School of Management MBA (2004–2006), Activities and Societies: Class President.
United States Naval Academy, Bachelor of Science with English (1991–1995)

-Navy Squash - Captain 1994-1995
-4 Varsity Letters
-Most Valuable Player Senior (First) Year
-Winner of the USS Barb Trophy
-Cox Fund - Earned scholarship to study Spanish In Salamanca, Spain.

Activities and Societies: Class Vice President, Groton School (1986–1990)
-10 Varsity Letters & 6 Varsity Captaincies - School Record 
-Notched a winning record each season
-United States Junior National Squash Team 
-World Championships - Paderborn, Germany 1990

Gerald L. Donaldson hired as Senior Account Manager with Culver Capital Group, Orange County, California. Previously, he was National Account Manager, First National Capital Corporation (April 2012–September 2013); National Account Manager, Transcepta LLC (April 2008-March 2012); Area Sales Manager, Simple Technologies (January 1998–June 2005). Education: Long Beach City College

Jeff Ellis named vice-president, sales and business development, Ivory Consulting. “Throughout his 30-year career spanning a range of technology sectors — SaaS, mobile, security, compliance, software and computers – Ellis has been instrumental in working with companies to validate and capture new markets, develop and execute customer-focused strategies, and grow sales, channels, and partnerships…(He) has held senior positions in sales, sales operations and business development with both private and public companies, including Nsite, Extensity, UB Networks and Tandem Computers.”

Chad Fredrick promoted to President at ePlus Group, Inc. He joined the company January, 1994, with latest position as senior vice president. “Bruce Bowen stepped down as executive vice president and president of ePlus Group effective March 28, 2014. Bowen, the founder of ePlus, will continue to serve as a member of ePlus’ board of directors, and will continue as an ePlus employee, focusing on business development and special projects.” Mr. Fredrick is Board Member JA of Greater Washington (2011–Present); Cofounder, Northern Virginia CFO Roundtable (2005–Present). Education: University of Virginia - Darden Graduate School of Business Administration (2011–2011); Virginia Polytechnic Institute and State University-Pamplin College of Business, MBA & BS FIN, Business Finance (1990–1994).

Tom Huber hired as Executive Vice President at Laitek, Greater Chicago area. Previously he was Senior Vice President Sales, Edge Communications (February 2013–April, 2014); Strategic Business Consultant, TJ Huber (July 2012–Present); President and CEO, AEL Financial (March 2010 – June 2012); Executive General Manager, Tech Depot (2008–March 2010); SR Vice President, Relational Technology Solutions (2003–2007); Executive Vice President, Comdisco (1981–2003). Education: University of Iowa, Marketing, Finance.

Thomas Karren named Vice President of Credit at Paradigm Equipment Finance Kaysville, Utah. He joined the company August, 2013 and his previous position was operations manager. Prior he was Commercial Banking Manager, TAB Bank (July 2011–July 2013); Assistant Vice President - Relationship Manager, Zions Bank (July 2010–April 2011). Education: Weber State University, Bachelor of Science (B.S.), Business Administration and Management (2006–2010); Weber State University, Associate of Arts and Sciences (A.A.S.), Business Administration, Management and Operations (2003–2006).

Geoff Price promoted to wireless channel manger, GE Capital, Dallas/Fort Worth area. He joined the company December, 2011 as business developer for vendors within the construction, technology, manufacturing, and golf & turf space and was promoted to inside sales manager, West Region, for GE’s vendor programs specializing in it. Previously he was Correspondent Lending Sales, Bank of America (July 2008–October 2011).

Rick Rockhold hired as Senior Vice President, Capital Markets at ATEL Capital Group. San Francisco, California. Previously he was Principal, Voltaic Capital Markets, LLC (June 2013–April, 2014); Partner and Co-Head of Leasing Acquisitions Group, Cypress Financial Corporation (February 2002–August 2012); President and Founder, Momentum Leasing Advisors, LLC (September 1996–January 2002); Investment Officer, USL Capital (Ford Financial Subsidiary) (September 1994–June 1996); Consultant, Broadband Video Services, Pacific Telesis (January 1994–September 1994); Business Development Analyst, ITEL (October 1990–August 1992); Mergers and Acquisitions Analyst, Management Sciences and Strategic Planning Groups, Wells Fargo Bank (August 1987–September 1990); Evaluator, U.S. General Accounting Office (January 1985–August 1985). Education: Stanford University, Professional Development Certificate in Emerging Energy Innovation and Technologies, Renewable Energy (2013–2013); University of Iowa - Henry B. Tippie College of Business MA, Finance (1985–1987); University of Iowa, BA, Finance, General (1982–1984); Iowa State University, Computer Science (1980–1982).

Hillary (Nichols) Whannell named Regional Sales Manager at Creekridge Capital LLC Minneapolis, Minnesota. “(She) will be responsible for the Central Region including: Michigan, Indiana, Ohio, Western Pennsylvania, Kentucky, West Virginia, Virginia, Tennessee and North Carolina. Ms. Whannell will work out of Creekridge’s main office in Minneapolis, Minnesota>” Previously she was Major Account Executive - Healthcare Division, Ricoh Americas Corporation (April 2008–March 2014); Account Executive - Commercial Division, Ricoh Business Solutions (November 2006–March 2008).
Education: Iowa State University, Bachelor of Science (BS), Marketing (2002–2006). Activities and Societies: Iowa State Swimming and Diving Team. Many swimming, diving award.

R. Scott Wood named General Counsel at Aequitas Capital Management Lake Oswego, Oregon. Previously he was General Counsel, Holiday Retirement (October 2009–January 2014); General Counsel, Golfsmith International Holdings, Inc. (April 2005–October 2009); Associate General Counsel, VP Technology Solutions, Franklin Covey Co. (September 2000–April 2005); Associate, Law Clerk, Epperson & Rencher, P.C. (June 1997–August 2000).
Languages: Japanese. Education: Brigham Young University—J. Reuben Clark Law School, JD, Law (1996–1999); Brigham Young University, BA, English (August 1993–December 1995); Graduated with Honors in English. Hong Kong International School (1987–1990).

Credit Manager
Fort Collins, Colorado

Responsible for the daily management of the underwriting efforts in the credit department on transactions up to $75,000 Click here for more informationn
-Est. 1982, specializing in the under $75,000
marketplace to smaller, closely-held businesses--




Municipalities and their Budgets
(and this means sales opportunities)

The great majority of municipalities are working on their new budgets and are preparing for another year of serving their public.  Across the board the cities, counties, and various types of districts are seeing somewhat improved revenues but their need to catch up on delayed acquisitions is highlighting their agendas.  Also important is their need to continue controlling expenses and to maintain their cash reserves.  Municipal Lease/Purchase financing allows them to pay for needed equipment from local vendors over time and that is the same benefit that we have discussed with commercial clients for decades.
And there are more benefits for them…

  • Tax Exempt Municipal rates are very low

  • Flexible repayment terms are readily available

  • Leasing does not require voter approval

  • There is no long term debt created (leases are an expense item)

  • Their choice of Master Lease formats and funding into Escrow

Whether they need a single piece of equipment or need a major project financed, you have access to a flexible source of funds for them.

Thomas L. Cadle, CLP
Leasource Financial Services, Inc.
1000 River Rock Drive, Suite 218
Folsom, CA 95630
800-991-0099 Voice
800-988-3931 Fax



Investment in equipment and software to grow 4.2%
ELFF Second Quarter Outlook

Despite the deceleration in Q4 2013, the U.S. economy still expanded 3.4% in the second half of 2013, relative to 1.8% in the first, suggesting that economic fundamentals are solidifying. In particular, consumer spending and exports were strong in Q4. Looking forward, a budget agreement and reduced policy uncertainty from Washington could help the economy to break out from its "start-stop" growth pattern.

A severely cold winter slowed a variety of economic indicators from home sales to nonfarm payroll growth, and may trim 1.0% off GDP growth in the first quarter. However, positive cyclical forces continue to shift towards the pro-growth direction. The sustainable housing market recovery, low natural gas prices, robust auto sales, record high household wealth, steadily improving credit availability, and employment gains all point to a year stronger growth and the possibility of "break out" growth close to 3.0%. However, downside risks from adverse weather in Q1 2014, high oil prices, soft patches in international growth, and political wild cards during an election year remain potential headwinds.

Overall, we expect the U.S. economy to grow 2.8% in 2014, the fastest pace since the 2008-09 recessions.

Growth in equipment and software investment accelerated from a 2.2% annualized rate in Q3 2013 to 8.9% in Q4. Looking ahead, we expect modest sector growth for the coming year, with an overall forecast of 4.2% growth in 2014.

  • Agriculture Machinery investment will likely see slow growth in the first half of 2014 as both farm yields and commodity prices ease.

  • Construction Machinery investment will see stronger growth later in the year, but the year-over-year growth figures will appear weak due to a high base year effect.

  • Materials Handling Equipment investment will experience slightly stronger growth over the next 3 to 6 months.

  • All Other Industrial Equipment investment will likely see moderate growth over the next 3 to 6 months as the manufacturing sector's competitiveness improves.

  • Medical Equipment investment will grow, but at a more moderate pace than the second half of 2013.

  • Mining & Oilfield Machinery is currently decelerating, but looks to rebound later in the year.

  • Aircraft investment will likely slow after a strong Q4, and growth will be about average for the year.

  • Ships & Boats investment will likely continue at a below-average pace over the next year.

  • Railroad Equipment investment will improve from its recent contraction towards modest growth.

  • Investment in Trucks will exhibit high-single digit growth over the next 3 to 6 months as economic activity improves and diesel prices remain competitive.

  • Computers investment will be muted in the next 3 to 6 months after strong replacement demand over the past few quarters.

  • Software investment will be moderate in the next 3 to 6 months as companies focus on upgrading to new technology.

Credit market conditions remain highly accommodative, and the Federal Reserve will continue to implement a two-pronged policy agenda in 2014. First, the Fed will take "measured steps" in its tapering of monthly asset purchases, unless economic conditions materially change – which sets the program to end in late 2014. Secondly, the Fed has now reevaluated its guidance on short term interest rates and zero interest rate policy. With the unemployment rate near the 6.5% "threshold", the FOMC has now moved towards a more "qualitative guidance", focusing on a number of economic indicators in order to assess the proper path of zero interest rate policy. However, there is internal pressure from FOMC members who want to tighten monetary conditions, citing financial market imbalances. If economic data show an accelerating trend over the course of 2014, it is very possible that the Fed could be forced to advance its decision in maintaining its zero interest rate policy. Because interest rates will remain low by historical standards, rising rates may have only a marginal impact on the lease-versus-buy decision. However, the changing rate environment could impact the equipment leasing industry in other ways, for example, through net interest margin compression.

ELFF Second Quarter Outlook (19 pages)


2014 Leasing Association Conferences


April 14, 2014 I 7:00 AM – 5:00 PM
Grand Hyatt New York, NYC

- April 13, 2014: Networking Reception from 5:00 – 6:00 PM
- April 14, 2014: Sessions from 7:00 AM – 5:00 PM


Robert Hollenshead, Founder and President, R. Hollenshead Auto Sales, 
BuyBook Technologies, and Universal Condition Report

REGISTRATION [40 Seats Remaining]

Register by Telephone at 800.803.0274

- 45% dealerships managers and principals
- 15% auto finance professionals
- 15% auto leasing professionals
- 25% vehicle remarketers

Automotive Resource Network (ARN)
P: 800.803.0274

April 14: ARN Automotive Annual Conference
April 15: Auto Forum
April 16: New York Auto Show Preview Day
April 17: New York Auto Show Preview Day

April 23 - 25
2014 National Funding Conference
Chicago, IL

As of March 18, the following companies will be exhibiting
as funding sources this year:

Alliance Partners, LLC
ATEL Capital Group
Banc of America Leasing
Banc of California
Bank of the West
BB&T Equipment Finance
BMO Harris Equipment Finance Company
Boston Financial & Equity Corporation
Bridge Capital Leasing, Inc.
Capital One Equipment Leasing & Finance
Cole Taylor Equipment Finance
EverBank Commercial Finance, Inc.
Fifth Third Equipment Finance Co.
Financial Pacific Leasing, Inc.
First American Equipment Finance, a City National Bank Company
First Bank of Highland Park
Fuyo General Lease (USA) Inc.
GE Capital Markets Group
Hudson Valley Bank
Huntington Equipment Finance
Key Equipment Finance
Lease Corporation of America
MB Financial Bank
Nations Equipment Finance
NTX Capital
People's Capital and Leasing Corp.
RBS Citizens Asset Finance
SCG Capital Corporation
Securcor, Inc.
Signature Financial
Societe Generale Equipment Finance
Stearns Bank NA-Equipment Finance Division
Sterling National Bank Equip. Finance Division
SunTrust Robinson Humphrey Equipment Finance
TCF Equipment Finance, Inc.
Wells Fargo Equipment Finance, Inc.




May 1 - 3
National Association of Equipment
Leasing Brokers 
2014 Annual Meeting
Caribe Royale Hotel
Orlando, FL

"Access to suitable funding is a critical need for every broker. The association makes it easier for members to locate reputable and reliable sources. Meet face to face with an assortment of lenders at our Annual Conference in Orlando May 1-3.

A searchable directory of Funder members is also available to registered NAELB members through our website. If you are not already a member, you can find info about joining the NAELB and about our annual conference at"

Joan Modes, BPB
President, NAELB

Annual Conference Exhibitors

360 Equipment Finance
Amerisource Funding
Axis Capital
Banc of California, N.A.
Bankers Capital
Blue Bridge Financial LLC
Bryn Mawr Funding
BSB Leasing
Channel Partners LLC
CLP Foundation
Dakota Financial, LLC
Facteon, Inc.
Financial Pacific Leasing, LLC
First Federal Leasing
Fora Financial
Great American Insurance
IOU Central Business Lending
KS State Bank, Baystone Government Finance
Marlin Equipment Finance
Maxim Commercial Capital LLC
Merchant Cash and Capital, LLC
Microbilt Corporation
NCMIC Finance Corporation
NFS Leasing
North Mill Equipment Financing LLC
Orange Commercial Credit
Pacific Western Equipment Finance
Paradigm Equipment Finance
Pawnee Leasing Corporation
Pinnacle Specialty Capital
Preferred Business Solutions
Quiktrak, Inc.
RLC Funding
TEAM Funding Solutions
Varilease Finance, Inc.

  Member Rate    Non-Member Rate
Broker Additional
Funder/Associate Additional

NAELB has negotiated a special group rate of $139/night for single/double or $159/night for king deluxe, from Wednesday, April 30 - Saturday, May 3.


May 7 - 9
Association of Government Leasing and Finance 
AGL&F/ELFA Public Sector Finance Forum
Washington, DC


Hotel Reservation:


September 4-6
2014 Eastern Regional Meeting
Lord Baltimore Hotel
Baltimore, MD

September 10-12
Canadian Finance and Leasing Association
The Fairmont Chateau Whistler
Whistler, British Columbia

September 18-20
San Antonio Texas
To Be Announced

October 19-21
2014 53rd Annual Convention
Manchester Grand Hyatt
San Diego, CA

November 5-7
34th Annual AGLF Fall Conference
Loews Ventana Canyon
Tucson, Arizona

November 6 - 8
2014 Western Regional Meeting
Hyatt Regency Irvine
Irvine, CA

November 12 - 14
Commercial Finance Association
70th Annual Convention
Washington Marriott Wardman Park
Washington, D.C.


November 16 -17
NJ Expo Regional
Teaneck, New Jersey
(Sunday evening- All Day Monday)

CFA Related Conferences

CFA Network Calendar

ELFA ---2014 Schedule of Conferences, Workshops
and e-Learning Opportunities





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

Oakland, Ca. Bank Pres./CEO Charged Stealing $15 Million

Ms. Poppi Metaxas, the former president and chief executive officer (CEO) of Gateway Bank, FSB (Gateway), of Oakland, California, was charged with bank fraud, bank fraud conspiracy, and perjury.

According to the indictment, in 2009, Metaxas fraudulently caused Gateway to execute a sham “round trip” transaction in which the bank self-funded a down payment to make it appear that Gateway had sold toxic, non-performing mortgage loans.

The indictment alleges that in February and March 2009, Metaxas engaged in a scheme to defraud Gateway in connection with Gateway’s sale of non-performing mortgage loans to three entities in exchange for $15 million. Specifically, Metaxas caused Gateway to enter into a sham agreement to loan money to Ideal Mortgage Bankers Ltd. d/b/a Lend America (“Lend America”), a mortgage lender and Gateway’s largest mortgage lending client. Lend America in turn provided that money to the three entities that were planning to purchase the non-performing mortgage loans. Thus, Metaxas and others, through a series of wire transfers, used the proceeds of the sham loan to Lend America to satisfy the 25 percent down payment that the three entities owed to Gateway in connection with the sale of the mortgage loans, in order to deceive observers and regulators into believing that Gateway had successfully removed these toxic assets from its books.

To conceal the fraudulent “round trip” of the loan funds, in October 2009, Metaxas provided false testimony to the Office of Thrift Supervision when she was asked about the source of the down payment.

“Metaxas, former president and CEO of Gateway Bank, is charged with cooking the bank’s books that were used to review the bank’s TARP application by using a ‘round trip’ transaction to hide the fact that the bank’s financial condition was in shambles,” said Christy Romero, Special Inspector General for TARP (SIGTARP).

“While Gateway’s TARP application was pending, its regulators demanded that the bank raise capital and reduce its problem assets. Metaxas allegedly orchestrated a fraudulent scheme to give the appearance that the bank was shoring up its finances by selling problem loans to outside investors. Metaxas purportedly hid from the bank’s board and regulator the fact that she, with the help of others, made a sham loan to those investors to fund in secret the 25 percent ‘down payment’ of $3.64 million, a loan that was later written off.

Crimes related to TARP will be investigated and prosecuted by SIGTARP and our law enforcement partners.”

“As alleged in the indictment, Poppi Metaxas placed herself above the interests of the bank, her board of directors, and the regulators, and lied to and misled those around her. She abused the trust placed in her by the bank, and committed fraud,” stated United States Attorney Lynch. “Other executives who mislead their company’s board or regulators should be on notice. Working with our law enforcements partners, both federal and local, we will find you, and we will hold you accountable in a court of law.”

The charges in the indictment are merely allegations, and the defendant is presumed innocent unless and until proven guilty.

The government’s case is being prosecuted by Assistant United States Attorneys Martin Coffey, Walter Norkin, and John Nowak.

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Fernando's View
By Fernando F. Croc

An absorbing true-life story ("Cesar Chavez") and a nonstop action thriller ("The Raid 2") come to theaters, while DVDs offer both drama ("Inside Llewyn Davis," "The Great Beauty") and comedy ("Anchorman 2: The Legend Continues").

In Theaters:

Cesar Chavez (Lionsgate): Legendary Latino civil-rights activist and labor organizer Cesar Chavez finally gets his own cinematic treatment in this absorbing biopic. It chronicles the life of Chavez (played by Michael Peña), starting with his early days as a migrant worker in the California fields. Becoming increasingly aware of the social injustice and racial prejudice all around him, he became an organizer in the 1950s, working diligently to bring better working conditions and dignity to the working class. The plot may follow the familiar inspiration arc of standard true-life movies, but the film benefits mightily from Diego Luna's robust and earnest direction, as well as from a cast that includes Rosario Dawson and John Malkovich. Above all, there's Peña's lead performance, which beautifully captures Chavez's soft-spoken shrewdness and idealist ardor.

The Raid 2 (Sony Pictures Classics): Topping the original action hit "The Raid" in sheer visceral thrills is a mighty challenge, but director Gareth Evans and star Iko Uwais are more than up to it in this jaw-dropping sequel. Indonesian martial-arts champion Uwais returns as Rama, a fearless cop last seen triumphantly fighting his way to the top of a high-rise hideout swarming with criminals. Turns out that was just the beginning, however, as he must now dive even deeper into the Jakarta underworld, posing as a brutal hood in order to infiltrate a network of gangsters. Trying to earn the trust of a kingpin's son (Arifin Putra) while struggling to keep his family out of harm's way, Rama finds himself caught in the middle of a deadly gambit. A rip-roaring extravaganza, the movie will have even the most hardened action buffs rubbing their eyes in disbelief. With subtitles.

Netflix Tip: For this year's April Fools' Day, check out Netflix for an entertaining festival of cons and pranks. Prime choices include "The Sting" (1973), "Paper Moon" (1973), "Dirty Rotten Scoundrels" (1988), "Catch Me If You Can" (2002), "Matchstick Men" (2003), and "American Hustle" (2013).


Inside Llewyn Davis (Sony): Comprising one of the most unique voices now working in American cinema, the fraternal filmmaking team Joel and Ethan Coen have come up with one of their most graceful efforts in this bittersweet comedy-drama, set in the early 1960s. The title protagonist, Llewyn Davis (played, in a revelatory performance, by Oscar Isaac) is a young folk singer struggling for a spot in the hip Greenwich Village scene. As winter approaches, he takes his guitar on the road in search of fame, leading to evocative encounters with a former girlfriend (Carey Mulligan), a famed records manager (F. Murray Abraham), and a bellicose stranger (John Goodman). With plenty of the Coens' trademark brand of eccentric humor, this is a look at life's many cruel detours and one of the year's greatest releases.

Anchorman 2: The Legend Continues (Paramount): Funnyman Will Ferrell returns as one of his most beloved characters, fatuous TV newsman Ron Burgundy, in this enjoyable sequel. Now married in New York to former rival Veronica (Christina Applegate), Ron finds his comfy position shaken when his wife is given the position of lead anchor in their news show. Shuffling back to San Diego with his tail between his legs, he finds a stab at redemption with the help of Freddie Shapp (Dylan Baker), who's starting a round-the-clock news channel. Ron's reunited with his friends Champ (David Koechner), Brian (Paul Rudd) and Brick (Steve Carell), but can his new fame cancel out his old love? Directed by genre veteran Adam McKay ("Talladega Nights," "Step Brothers"), the movie should provide a full barrel of belly laughs for fans of Ferrell's brand of zaniness.

The Great Beauty (Criterion): In the tradition of jazzy Italian classics like "La Dolce Vita," Paolo Sorrentino's newest film is a lush feast for cinema lovers. The story centers on Jeb Gambardella (Toni Servillo), a famous journalist who's a staple of the swirling, expensive nightlife of Rome. He's become jaded with the nonstop rush of decadence, though a shock from his past as he approaches his birthday causes him to take another look at his life. As an aching new awareness dawn on him, he makes his way through extravagant restaurants, art expositions and wealthy friends to find some kind of meaning to it all. Will there be a light at the end of the tunnel, or just more self-indulgence? With breakneck pacing and dazzling style, Sorrentino's film (a Best Foreign Language Picture Oscar winner) is a voluptuous look at one man's gilded cages. With subtitles.



News Briefs----

Rail Equipment Finance 2014 roundup

Mortgage rates nudge up before jobs report

SEC Fraud Case Against Michaels Billionaire Kicks Off in Manhattan

Anadarko Pays Billions In Settling Toxins Case

David Letterman to Retire in 2015

Top Ten Comics Who Could Replace David Letterman

Star-Ledger Announces Big Staff Reductions

Tesla wants to replace side-view mirrors with cameras

Oldest living screen stars

Sales of Nest Smoke Detector Halted

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Spring Poem


by Lewis Carroll

'Twas brillig, and the slithy toves
Did gyre and gimble in the wabe;
All mimsy were the borogoves,
And the mome raths outgrabe.

"Beware the Jabberwock, my son
The jaws that bite, the claws that catch!
Beware the Jubjub bird, and shun
The frumious Bandersnatch!"

He took his vorpal sword in hand;
Long time the manxome foe he sought--
So rested he by the Tumtum tree,
And stood awhile in thought.

And, as in uffish thought he stood,
The Jabberwock, with eyes of flame,
Came whiffling through the tulgey wood,
And burbled as it came!

One, two! One, two! And through and through
The vorpal blade went snicker-snack!
He left it dead, and with its head
He went galumphing back.

"And hast thou slain the Jabberwock?
Come to my arms, my beamish boy!
O frabjous day! Callooh! Callay!"
He chortled in his joy.

'Twas brillig, and the slithy toves
Did gyre and gimble in the wabe;
All mimsy were the borogoves,
And the mome raths outgrabe.



Sports Briefs----

Griffin excited to play with Jackson


California Nuts Briefs---

CalSTRS says pension funding gap has grown to $73.7 billion

Small avocado groves in peril

BART unveils new car design


“Gimme that Wine”

Earthquake in Chile Spares Wine Regions - Wines of Chile

Vineyard opens in Pilot Mountain, NC

Wine Institute Publishes Down To Earth: A New Book on California Sustainable Winegrowing

Grgich Hills Estate celebrates release of Paris Tasting Commemorative Chardonnay with a "Day for Peace"

Why no wine online in Mass.?

Wine: Three Contra Costa wineries

Kenneson Farms continues 100-year vineyard tradition


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Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History

     1513- Juan Ponce de Leon discovered Florida, landing at the site that became the city of St. Augustine. He claimed the land for the King of Spain.
    1792-the first US Mint was established at Philadelphia, PA, as authorized by an act of Congress. Copper coins were authorized in one cent and half-cent (coined until 1857). Gold coins in $10 Eagles, $5 half-eagles, and quarter eagles $2.50. It was not until 1849 that $20 double eagles and $1 gold pieces were authorized. All gold coins were discontinued by the Gold Reserve Act of January 30, 1934 that stated “no gold shall hereafter be coined.” Silver coins were the half dollar, quarter dollar, dime, and half dime, until 1873, when Congress enacted what was known as
“the crime of 73”, that made gold the sole monetary standard. The first paper money was issued by Native Americans in Oregon, the Araphos. Paper money was not authorized until July 17, 1861 and August 5, 1861 by Congress
    1829-the Bank deposit insurance law was enacted in the state of New York, assessing banks one-half percent of capital stock until 3 percent was set aside " ...for the benefit of the creditors”. Banks, their officers, and their servants were required to be examined under oath at least once every four months.
    1850-First masquerade ball in San Francisco with 600 guests. The event was organized by Tiffany Shlain and in 1898 moved to the Palace of Fine Arts with 2,000 guests.
    1860--The birthday of Mary Raymond Shipman Andrews, author of “The Perfect Tribute” (1906) which sold more than 600,000 copies. It recounts the fictionalized meeting of Lincoln and a dying Confederate soldier during which Lincoln finds out the popularity of the Gettysburg Address. Her son became dean of the College of Law of Syracuse University. 
    1863- Richmond, Virginia Bread Riot: Women marched through the streets of Richmond, Virginia, demanding food. Facing them, Confederate President Jefferson Davis was equally adamant: If the protesters did not disperse, they would be shot. Indicative of conditions in the Confederate capital of Richmond, VA, an angry mob's demands for bread from a bakery wagon escalated into the destruction of nearby shops. Confederate president Jefferson Davis, in a bold move, stepped into the angry crowd and stated, "We do not desire to injure anyone, but this lawlessness must stop. I will give you five minutes to disperse, otherwise you will be fired upon." The mob dispersed without bloodshed.
    1865-the evacuation of Richmond, VA, was urged by General Robert E. Lee, who informed Confederate President Davis that he himself must withdraw from Petersburg, VA. Davis left the city that night with his cabinet, retreating to Danville. The now small Confederate army began evacuation of Petersburg. Many believe it was General Grant and his troops that burned Richmond down, but that is not correct, according to historians and records of the time. “Richmond, meanwhile, burned, as fires set by fleeing Confederates and looters raged out of control.”
    1866- Civil War Officially Ends. The state of “insurrection” was declared over by presidential proclamation in Georgia, South Carolina, Virginia, North Carolina, Tennessee, Alabama, Mississippi, Louisiana, Arkansas, and Florida. It was not until August 2 that the president announced that the “insurrection” was at an end in Texas, and that civil authority existed in the United States.
    1902 – First motion picture theatre, Electric Theatre, opens in Los Angeles.
    1908-the first professional to manage a city, now called “City Manager” and the most prevalent form of city government in the United States, was Charles Edward Ashburner of Richmond, VA. He was elected general manager by the city council of Staunton, VA. Prior to this time, the mayor was the manager of each city. This was the first “professional city manager”, who’s first year salary was $2,000; the second year salary, $2,500. He served until July, 1911.
    1908 – Mills Committee declares that baseball was invented by Abner Doubleday.
    1909-Birthday of Hymie Schertzer. Alto player with Bunny Berrigan, Benny Goodman.
    1917 – Jeannette Rankin (Rep-MT) begins her term as the first woman member of the US House of Representatives.
    1918- birthday of the renowned African-American artist, Charles White, who began his professional career by painting murals for the WPA during the Depression. He was influenced by Mexican muralists Diego Rivera and David Alfaro Siquieros. Among his most notable creations are: “J'Accuse” (1966), a series of charcoal drawings depicting a variety of African-Americans from all ages and walks of life; the “Wanted” posters (c. 1969), a series of paintings based on old runaway slave posters; and “Homage to Langston Hughes” 1971.
    1928-vocalist/songwriter Marvin Gaye born Washington, DC. Sang in his minister father's church. With Harvey Fuqua in re-formed Moonglows. To Detroit in 1960. Session work as a Motown studio drummer. First recorded for Tamla in 1961. To Columbia in 1982. Fatally shot by father during quarrel on 4/1/84 in Los Angeles. Inducted into Rock and Roll Hall of Fame in 1987.
    1931-Jackie Mitchell, 17, became the first woman to pitch in a professional baseball game after she was signed to a contract by the Chattanooga Lookouts of the Southern Association. In an exhibition game against the New York Yankees, Mitchell struck out Babe Ruth ( who took strike three) and Lou Gehrig (who gallantly missed three straight pitches) before Tony Lazzeri walked.
    1932 -- Charles Lindbergh pays over $50,000 ransom for his kidnapped son.
     1935--The birthday of Georgia Geyer, distinguished recipient of many journalistic and writing awards. She was imprisoned at one time because of her reportage. Her autobiography is part of the distinguished Radcliffe College series of outstanding American women. 
    1942-Glenn Miller records patriotic “American Patrol.”
    1942 – Aircraft carrier, USS Hornet, departs San Francisco with Col. Jimmy Doolittle’s squadron of B-25s. This launched the surprise air attack on Tokyo at a time during WWII that was desperate for good news. This was later made famous in the movie, “Thirty Seconds Over Tokyo”, starring Spencer Tracy, June Allyson, and Van Johnson. Many consider it a turning point in the war, with the Battle of Midway. Although the damage inflicted on Japan in its back yard was minimal, it pierced their feelings of invincibility, and provided a morale boost to all of America.
    1947--Country singer Emmylou Harris was born in Birmingham, Alabama. She first hit the country charts in 1975 with a remake of the Louvin Brothers "If I Could Only Win Your Love," which went all the way to number one. Her other number-one country songs include "Together Again" and "Sweet Dreams," both from 1976. Although her early albums contained a mixture of country, ballads and rock, Harris has never been able to register a significant pop hit. In 1979, she began concentrating on pure country material, much of it produced by her husband, Brian Ahern. Harris was part of the hit "Trio" album with Dolly Parton and Linda Ronstadt in 1987. 
    1948---Top Hits
Now is the Hour - Bing Crosby
I’m Looking Over a Four Leaf Clover - The Art Moonie Orchestra
Beg Your Pardon - Francis Craig
Anytime - Eddy Arnold
    1954 – Walt Disney announces plans to build Disneyland outside Los Angeles.
    1956-“As the World Turns” premiered on TV, one of the longest-running soaps currently on the air, "ATWT" premiered on CBS. The series is set in Midwestern Oakdale and revolves around the Hughes family and their neighbors. Irma Phillips was the show's creator and head writer. Some of its cast members who made it big are: Meg Ryan, Julianne Moore, Michael Nader, Steven Weber and Swoosie Kurtz.
    1956-"The Edge of Night" premiered on CBS. Though the plots initially revolved around crime and courtroom drama, the serial's format soon developed along more conventional soap story lines of romance. The soap shifted to ABC in 1975 but was cancelled in 1984. Larry Hagman, Dixie Carter, Lori Loughlin, Willie Aames and Amanda Blake were some of the show's most prominent players.
    1956---Top Hits
The Poor People of Paris - Les Baxter
Heartbreak Hotel - Elvis Presley
Rock Island Line - Lonnie Donegan
Blue Suede Shoes - Carl Perkins
    1957--- Elvis Presley played two concerts before 23,000 people at Maple Leaf Gardens in Toronto. Presley performed outside the US only four times in his career - the two concerts in Toronto, one the next night in Ottawa and a later performance in Vancouver. The 15,000 fans who attended the second Toronto show was the largest audience the 22-year-old Elvis had faced. But before Presley came on, people had to sit through an hour of warm-up acts, including an Irish tenor, a rock 'n' roll tap dancer, and a comedian who did an imitation of a woman taking off a girdle. 
    1961- Trial of Adolf Eichmann begins in Jerusalem
    1963 -- Reverend Dr. Martin Luther King begins the first non-violent campaign in Birmingham, Alabama, followed by a sit-in on April 3rd.
    1964-The Beach Boys record "I Get Around", which will become their first US #1 single by the following July, selling nearly two million copies.
    1964---Top Hits
She Loves You - The Beatles
Twist and Shout - The Beatles
Suspicion - Terry Stafford
Saginaw, Michigan - Lefty Frizzell
    1965-Freddie And The Dreamers record "Do The Freddie", a song that was put together quickly after American audiences wanted to know more about the swaying motion that lead singer Fred Garrity seemed to do on stage.
    1966-- Herb Alpert and the Tijuana Brass set a chart record when four of their albums make the Top 10 of the Billboard album chart at the same time.
    1969 - The Milwaukee Bucks of the National Basketball Association signed Lew Alcindor for a reported $1,400,000 five-year contract. Alcindor soon changed his name to Kareem Abdul-Jabbar and was later traded to the Los Angeles Lakers.
    1969-Frank Sinatra's version of "My Way" entered the Billboard Hot 100 where it would rise to #27. In the UK, the song would spend an amazing 75 weeks in the Top 40, peaking at #5. 
    1971--- Janis Joplin's LP “Pearl” hits #1 
    1971-Ringo Starr releases his solo hit, "It Don't Come Easy." It would become his first top-10 hit.
    1972---Top Hits
A Horse with No Name - America
Puppy Love - Donny Osmond
Mother and Child Reunion - Paul Simon
My Hang-Up is You - Freddie Hart
    1973 – CBS launches 24 hour news programming for the first time.
    1974 - 46th Annual Academy Awards presentation at the Dorothy Chandler Pavilion in Los Angeles! Hosting the film industry celebration were John Huston, David Niven, Burt Reynolds, and Diana Ross. Pictures this year included: "Serpico", "The Exorcist", "Jonathan Livingston Seagull", "The Day of the Jackal", "American Graffiti", "Papillion", "Jesus Christ Superstar", "Last Tango in Paris", "Live and Let Die", "Cinderella Liberty". And this list doesn’t even include The Best Picture of the Year, "The Sting" (producers: Tony Bill, Michael Phillips, Julia Phillips). "The Sting" won six additional Oscars: Director (George Roy Hill); Art Direction (Henry Bumstead)and Set Decoration (James Payne); Costume Design (Edith Head); Film Editing (William Reynolds); Scoring/Original Song Score/Adaptation: (Marvin Hamlisch); Writing/Original Story/Screenplay based on Factual Material or Material Not Previously Published or Produced (David S. Ward); plus three additional nominations. Nor does it include these Oscar winners: Best Actor: Jack Lemmon for "Save the Tiger"; Best Actress: Glenda Jackson for "A Touch of Class"; Best Supporting Actor: John Houseman for "The Paper Chase"; Best Supporting Actress: Tatum O’Neal for "Paper Moon"; and Best Music/Song: "The Way We Were" -- Marvin Hamlisch (music), Alan and Marilyn Bergman (lyrics) from the movie of the same title.
    1975 - The northeastern U.S. was in the grips of a severe storm which produced hurricane force winds along the coast, and two to three feet of snow in Maine and New Hampshire. Winds atop Mount Washington NH gusted to 140 mph.
    1975 - The biggest snowstorm of record for so late in the season paralyzed Chicago, IL. Up to 20 inches of snow fell in extreme northeastern Illinois, and 10.9 inches of snow closed Chicago's O'Hare Airport.
    1977 - "Sir Duke," Stevie Wonder’s tribute to Duke Ellington, was released.
    1978-“Dallas” premieres on TV: Oil tycoons battled for money, power, women, and prestige in this prime-time CBS drama that ran for nearly 13 years. The Ewings and Barneses were Texas's modern-day Hatfields and McCoys. Larry Hagman starred as the devious, scheming womanizer J.R. Ewing. When J.R. was shot in the 1980 season-ending cliffhanger, the revelation of the mystery shooter was the single-most watched episode of its time (it was Kristin, J.R.'s sister-in-law, played by Mary Crosby, Bing’s daughter). Cast members included Jim Davis, Barbara Bel Geddes, Donna Reed, Ted Shackelford, Joan Van Ark (who, along with Shackelford, starred in the spin-off "Knots Landing"), Patrick Duffy, Linda Gray, Charlene Tilton, David Wayne, Keenan Wynn, Ken Kercheval, Victoria Principal and Steve Kanaly.
    1979-Nickelodeon, the cable TV channel for kids owned by MTV Networks, debuted on this date.
    1980---Top Hits
Another Brick in the Wall - Pink Floyd
Working My Way Back to You/Forgive Me, Girl - Spinners
Call Me - Blondie
I’d Love to Lay You Down - Conway Twitty
    1980- Anne Murray won four Juno Awards, including best single for "I Just Fall in Love Again." Show host Burton Cummings was named top male vocalist.
    1982 - Severe thunderstorms spawned fifty-six tornadoes in the central U.S., including seventeen in the Red River Region of Texas and Oklahoma. The tornadoes claimed thirty lives, and injured 383 other persons. A violent tornado near Messer OK left only the carpet tack strips on the slab of a house it destroyed, and carried a motel sign thirty miles.
    1984 - John Thompson became the first black coach to lead his team to the NCAA college basketball championship. Georgetown’s Hoyas defeated Houston 84-75 in Seattle for the win. Thompson’s team in 1982 had finished second to North Carolina for the championship. 
    1985 - One day after its release, the album, "We are the World" was certified gold, when its sales reached an excess of 500,000 copies.
    1985 - The NCAA Rules Committee adopted the 45-second shot clock for men’s basketball, to begin in the 1986 season. It was an effort to thwart the end-of-game stalls that kept opposing teams from scoring in close contests. 
    1986 – NCAA adopts the 3-point basket for shots that are sunk from a new semi-circular arc of 19’9”.
    1987 - Eleven cities in Florida reported record low temperatures for the date, including Tallahassee with a reading of 31 degrees. The low of 48 degrees at Key West smashed their previous record for the date by 13 degrees
    1987-- Canadian country rocker k.d. lang made her Los Angeles debut at The Roxy nightclub. Among the audience of 1,200 people were reviewers for the major newspapers and record industry executives. Lang's appearance came as her "Angel with a Lariat" was beginning its climb up the Billboard country chart.
    1988---Top Hits
Man in the Mirror - Michael Jackson
Get Outta My Dreams, Get Into My Car - Billy Ocean
I Want Her - Keith Sweat
Love Will Find Its Way to You - Reba McEntire
    1989 - Strong and gusty winds prevailed from California to Colorado and Wyoming. Winds gusted to 50 mph at Lancaster CA, and reached 85 mph at Berthoud Pass CO. Snow and high winds created blizzard conditions in the Colorado Rockies.
    1990 - Thunderstorms produced severe weather in North Carolina and Virginia during the afternoon and evening. Thunderstorms produced golf ball size hail, and spawned a tornado near Chester, VA which caused half a million dollars damage. A storm system produced snow and gale force winds across northern Michigan, with 8.3 inches of snow reported at Marquette. Temperatures in the north central U.S. soared from morning lows in the 20s and 30s to afternoon highs in the 60s and 70s. Eight cities reported record highs for the date, including Havre, MT with a reading of 77 degrees.
    1996- Tiger first baseman Cecil Fielder steals the first base of his eleven-year career. The swipe of second comes in the 1,097th game of 'Big Daddy's career, establishing the longest duration a player has ever gone without a stolen base.
    1996-In a Chicagoland Collegiate Athletic Conference baseball game, St. Francis of Illinois humiliated Robert Morris, 71-1, in a game that Robert Morris coach Gerald McNamara declared over after four innings. St. Francis scored 26 runs in the first inning, 22 in the second, 4 in the third, and 19 in the fifth. The Fighting Saints broke a dozen NCAA Division II records and tied four others.
2001 - On Opening Day, Yankee fireballer Roger Clemens becomes the all-time AL career strikeout leader, passing Walter Johnson as he Ks Royals’ Joe Randa for his 3,509 Junior circuit victim. Passing the 'Big Train’, the 'Rocket' now takes over the seventh spot in major league history.
    2001- For the first time in major league history, a Japanese-born position player participates in a regular-season major league game. Ichiro Suzuki, hitless in his first three at-bats, singles in the seventh inning to ignite a two-run rally and bunts for a hit in the eighth in his Seattle Mariner debut at Safeco Field.
    2001—Duke University wins the NCAA Basketball Championship
    2003- Mike Bordick's record streak for games and chances without an error by a shortstop ends as Yankee outfielder Bubba Trammell's third inning grounder tips off his glove. After converting a fielder's choice in the first inning, he misplays his second chance of the game, thus ending the streak at 544 chances and 110 consecutive games without an error, a new major league mark for shortstops.
    2003- Todd Zeile homers in first at-bat as a Yankee, becoming the only major leaguer to hit a home run for ten different teams. In addition to homering with the Bronx Bombers, the infielder has also gone deep for the Cardinals, Cubs, Phillies, Orioles, Dodgers, Marlins, Rangers, Mets, and Rockies.

NCAA Basketball Champions This Day




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