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entertainment for the commercial alternate financing,
bank, finance and leasing industries


Thursday, April 25, 2019

Today's Leasing News Headlines

ELFA MLFI-25 Finds March at $8.2 Billion New Business
   Up 39 percent Compared to February
New Hires/Promotions in the Leasing Business
   and Related Industries
Why You Should be Active on
    FinTech #102 by Alex Vasilakos
New Home Sales Edge Towards Post-Recession High
 Chart-Number of New Single-Family Houses Sold in the US
Senate Follows House Seeking to Make Cannabis Banking
    "S.A.F.E."  -- The National Law Review Reports
Financing Cannabis Funding Sources
  Many Work with Third Party Originators
Ascentium Capital Executes its Largest Securitization
   of $375 Million
Equifax acquires PayNet to help expand access
   to capital for small and mid-sized businesses
High Life/Missing Link/If Beale Street Could Talk
  Cold War/Stranger Than Paradise
   Film/Digital Reviews by Leasing News' Fernando Croce
   Atlanta, Georgia Adopt a Dog
Catch the Great Debate at Broker Fair
   New York City, May 6th
News Briefs---
LendingClub Changes Strategy With Small Business Lending
 To Stop Originating Them,  Concentrate Consumer Loans
CIT Announces First Quarter 2019 Results
 "Focused on Further Unlocking the Full Potential of CIT"
Boeing says 737 MAX grounding will cost $1 billion
  CEO Munoz says “No idea when 737 Max jets will fly again”
Action continues in 12 states to end time changes
  Arizona/Hawaii: only two states not to take part time change
Facebook Reports First Quarter 2019 Results
  FTC $3 billion & Finance Lease $3.96 Billion Cost
Microsoft sales top estimates amid flurry of cloud wins
  Revenue rose 14% from a year earlier to $30.6 billion

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months (Be Careful of Doing Business)
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ELFA MLFI-25 Finds March at $8.2 Billion New Business
Up 39 percent Compared to February

(Chart: Leasing News)

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed their overall new business volume for March was $8.2 billion. Volume was up 39 percent month-to-month from $5.9 billion in February. Year to date, cumulative new business volume was down 10 percent compared to 2018.

click to make larger







(Chart: ELFA)

ELFA President and CEO Ralph Petta said, “First quarter new business volume got off to a slow start, relative to Q1 last year. This was not unexpected given analysts’ expectations that equipment and software capex in 2019 could not realistically expect to keep pace with last year’s strong showing. The overall U.S. economy continues to perform reasonably well: unemployment is low; interest rates are favorable, with the Fed deciding to hold off on additional increases for a while; and the broader equity markets are stable. Credit markets appear healthy. Headwinds to this benign scenario include a softening in global economies and continued international trade frictions, particularly with China and Europe.”

Alan Sikora, CLFP, CEO of First American Equipment Finance and a member of the ELFA Board of Directors, said, “Following a year of growth in 2018, the equipment finance industry experienced two consecutive months of year-over-year declines. Time will tell whether this decrease is simply a hangover from December stock market volatility or an early sign of weakness in the U.S. economy. The U.S. equipment finance industry is massive and strong—no single company commands significant market share. As a result, not all companies are experiencing declines. First American Equipment Finance continues to grow, and we remain optimistic about the remainder of 2019.”

Receivables over 30 days were 1.90 percent, up from 1.80 the previous month and up from 1.70 percent the same period in 2018. Charge-offs were 0.37 percent, up from 0.35 percent the previous month, and down from 0.51 percent in the year-earlier period.

Credit approvals totaled 75.3 percent, down from 76.0 percent from February. Total headcount for equipment finance companies was up 0.4 percent year-over-year.

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click image to make larger

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(Chart: ELFA)

Full Report:


New Hires/Promotions in the Leasing Business
and Related Industries


Stephane Arsenault, CFA, was promoted to VP Sales, Central & Western Region, Hitachi Capital, Canada.  He joined the firm April, 2017, Director, Syndications. Previously, he was Vice President, Sales & Marketing, Eagle Copters, Ltd. (April, 2016 - March, 2017); Vice President, Capital Markets, Element Financial Corporation; Managing Director, Diversified Industries, Corporate Finance Division, BMO Financial Group (July, 2012 - October, 2012).  He joined GE Capital, February, 2005, as Account Manager, Manufacturing Finance; promoted March, 2006, Senior Account Manager, Aircraft Financing. Education: HEC Montreal, BAA, Finance and Marketing (1998 - 2001).

Pat Clemons was hired as Director of Business Development, Structured Finance, on the Crossroads Equipment Lease and Finance group, Rancho Cucamonga, California. He is based in San Francisco. Previously, he was Strategic Advisor, Convergence Strategies, LLC (June, 2018 - April, 2019); Strategic Director, Broad Street Holdings, LLC. (June, 2016 - June, 2018); SVP, Investment Professional, Revere Capital, LLC (March, 2014 - August, 2016); Managing Director, Principal Investing, White Oak Global Advisors, LLC (January, 2008 - September, 2012); SVP, Business Development, CIT Business Capital (May, 2006 - May, 2007); VP, Originations, GE Capital (May, 2004 - May, 2006); Principle, Convergence Strategies, LLC (January, 2003 - March, 2004); VP, Corporate Finance, WR Hambrecht (July, 2000 - November, 2002); VP/BDP Corporate Finance, Silicon Valley Bank (November, 1998 - May, 2000); VP, Corporate Banking, Union Bank of California (November, 1993 - October, 1998). Volunteer: Coach, Southern Marin Young Football, Broncos (August, 2014 - Present). Board of Directors. St. Hilary (Tiburon, CA) CYO (September, 2013 - Present).

Bryan Combs was hired as Vice President, Regional Sales Manager, Triumph Commercial Finance, Dallas, Texas. He is located in Charlotte, North Carolina.  Previously, he was Relationship Manager, Hitachi Capital America Corp. (September, 2017 - March, 2017); Regional Vice President, Commercial Credit Group (December, 2006 - March, 2017); Branch Manager, BB&T (2004 - 2006); Branch Manager, BB&T (2004 - 2006); Branch Operations Manager, CitiCapital Commercial Corp. (2000 - 2004); District Sales Manager, Associates Commercial Corp (1996 - 2000).  Volunteer: Board Member, Matthews Softball Association (March, 2007 - Present).  Education: Wake Forest University, BA, History (1985 - 1989).

Brock Edwards was promoted to Vice President, Equipment Finance Commercial Bank, Key Equipment Finance, Superior, Colorado. He is located in the Greater Seattle area. He joined the firm July, 2014, in the Sales ACT Program, Superior, Colorado; promoted Inside Sales Manager, Technology, April, 2015; promoted October, 2015, Sales Manager, Technology; promoted June, 2015, Assistant Vice President, Equipment Finance Business Bank.  Previously, he was Marketing Intern, Oregon State Athletic Department (August, 2013 – March, 2014); Valet, Ringside Fish House (June, 2011 – December, 2013). Education: Oregon State University, Bachelor's Degree, Finance, General (2010 – 2014). Recruitment Chairman, Phi Delta Theta Fraternity (February, 2012 – March, 2013).

Ken Elliott was hired as Vice President, Capital Markets, Dext Capital, Lake Oswego, Oregon.  He is based in Palm Harbor, Florida. Previously, he was Regional Sales Manager, Hitachi Capital America Vendor Services (August, 2017 - April, 2019); Assistant Vice President, CIT (December, 2016 - August, 2017); Chief Finance & Sales Officer, TIG Worldwide (July, 2014 - December, 2016); Regional Finance Manager, Philips Medical Capital (September, 1996 - July, 2014); Regional Sales Manager, Eastman Kodak Company (February, 1985 - September, 1996). Education: George Mason University. BS, Business with concentration in Sales Management/Marketing (1980 - 1984).

Jimmy Gomez was hired as Senior Vice President of Vendor and Banking Services, Alliance Capital Corporation, Costa Mesa, California. Previously, he was at Balboa Capital, starting Auguste, 2016, Vendor Partnership Manager; promoted March, 2018, Commercial Account Executive; Account Executive, Credit Card Processing, Cornerstone Payment Systems (February, 2016 - May, 2016); Account Executive, B2B Sales, Alliance Funding Group (June, 2014 - November, 2015); Water Purification Specialist, US Army (December, 2005 - November, 2012). Volunteer: Softball Coach for Boys and Girls Club of Fullerton (May, 2013 - July, 2014).  Education: Fullerton College. Business Administration and Management, General (2013 - 2014). Business Management. University of Maryland University College, Business Administration and Management General (2006 - 2008). Business Management. Troy. Commonwealth.

Russell Keys was hired as Director of Business Development, Crossroads Equipment Lease and Finance, Rancho Cucamonga, California. He is based in Dallas.  Previously, he was Vice President, Sertant Capital, LLC (June, 2018 - April, 2019); Regional Vice President, Element Fleet Management (March, 2017 - June, 2018); Area Vice President, Southwest Region, Idealease (June, 2016 - March, 2017); Fleet Account Executive, Leasing Associates, Inc. (September, 2015 - June, 2016); Relationship Manager, GE Transportation (October, 2014 - April, 2015); VP, Relationship Manager, Navistar Capital (July, 2012 - October, 2014); Regional Sales Manager, T-Check Systems ( April, 2008 - April, 2010); VP Business Development, GE (April, 2006 - April, 2008).

Fred Mara was hired as Vice President, Commercial Vehicle Group, Wells Fargo Equipment Finance. He is located in Danbury, Connecticut. Previously, he was Vice President, BB&T Equipment Finance (July, 2012 - March, 2019); Financial Advisor, Merrill Lynch (2010 - 2012); Vice President, Equipment Finance, PNC Financial Services Group (July, 2007 - January, 2010);Vice President, Equipment Finance, U.S. Bank (2006 - 2007): Vice President, RBS/Citizens (2000 - 2006); Vice President, LaSalle National Leasing (1995 - 2000); Vice President, Marshall  & Stevens (1990 - 1995). Licenses & Certifications: Fina, Series 66. Finra, Series 7.  Education: University of New Haven. BS, Business Administration.  Member of UNH Alumni Association Board of Directors, June 2012 to 2014.

Jerry Reichelt was hired as Director of Credit, NewLane Finance, Philadelphia, Pennsylvania.  Previously, he was AVP, Direct Lending Credit, Marlin Business Services Corp. (June, 2007 - April, 2018).

Daniel Roberts was promoted to Account Manager, GSG Financial, New York, New York.  He is located in Findlay, Ohio. He joined the firm July, 2018, as Equipment Finance Leadership Trainee. Previously, he was Summer Research Associate, National Maintenance Services (May, 2018 - June, 2018); Corporate Finance Associate, GSG Financial (June, 2017 - August, 2017); Statistician, Wittenberg University Athletics (August, 2014 - May, 2015).  Education: Wittenberg University, BA in Finance (2014 - 2018). Activities and Societies: Witt Men's Soccer Program (4 years). Phi Kappa Psi Fraternity. New Member Education. Recording Secretary, Social Secretary. Van Buren High School (2010 - 2014).

Brenton Smith was promoted Director, Vendor Operations, GreatAmerica Financial Services, Cedar Rapids, Iowa. He joined the firm February, 2008, Senior Financial Analyst; promoted, April, 2013, Team Leader; promoted January, 2017, Corporate Risk & Operations Analyst. Volunteer: YMCA Camp Wapsie Advisory Committee (May, 2012).  Education: University of Iowa.  Henry B. Tippie College of Business.  MBA, Finance (2010 - 2014). Graduated with Honors, May, 2014.  Coe College.  B.A., Economics Business Administration, 3.92. (2004- 2008).  Activities and Societies: Economics Society.  Phi Beta Kappa. Omicron Delta Epsilon.  Graduated Magna Cum Laude.

Daniel Williams was hired as Managing Director, heading the Northeast Regional Business Development Team for Encina Business Credit, Chicago, Illinois. He is located in New York City.  Previously, he was Managing Director, Great American Group (June, 2014 - April, 2019); Director, BNP Paribas (May, 2010 - May, 2012); Vice President, National Sales Manager, HSBC (June, 2008 - June, 2010; Director, CapitalSource (June, 2006 - February, 2008); Senior Vice President, GE Commercial Finance (2003 - 2006); Vice President, Fleet Bank (November, 1996 - March, 2003); Analyst, Gordon Brothers Group (1993  1996). Education: University of Massachusetts Amherst (1994 - 1996). Northeastern University. Groton High School.



Why You Should be Active on

FinTech #102 by Alex Vasilakos

When it comes to social media in business, we find that many believe it is necessary to post and engage on their business pages, but this is simply not true. There are many reasons as to why branding oneself as a business to do trust is important.

Here are the top three reasons why you should get active on LinkedIn.

Reputation Management
Your LinkedIn profile is your online reputation, your digital resume, and your virtual footprint. When building your profile, it is imperative that you remain honest, consistent, and strategic, utilizing industry-specific language. Highlighting experiences and accomplishments, as well as sharing informative and engaging content will also aid in managing your professional reputation.

Establish Credibility
Through skill endorsements and pulse articles, LinkedIn is an excellent way to establish yourself as an expert in your field. The idea of becoming credible works hand-in-hand with what you’ve posted and that helps to manage your reputation. For example, if you write in your LinkedIn summary that you have 15 years of experience in human resources, you have the ability to validate that statement by publishing an article on your page about talent recruiting that showcases that knowledge. Similarly, if you decide that “leadership” is one of your skills, your connections will be able to endorse that skill, allowing the element of social proof to come into play.

LinkedIn has evolved into a platform that goes far beyond “connecting with people you know,” or finding a job. LinkedIn has become a way for professionals and business owners to virtually network with anyone, from any industry, from anywhere.

LinkedIn allows you to search for professional individuals in any specific niche, and instantly send them a connection request followed up by a message, opening the door to a phone conversation which can quickly turn into a referral partnership.

Using LinkedIn as a networking tool at least three times per week, better yet once a day,  will not only increase your connections, but may increase your number of referral sources as well.

Alex Vasilakos
Director of Marketing
The Finance Marketing Group 

Office: 518-591-4645x102 / Fax: 518-677-1071
90 State Street, Suite 1500, Albany, NY 12207
Currently, Alex works exclusively with financial services companies but his depth of knowledge and experience can help design and implement long-reaching strategies for businesses across all industries.

Previous Financial Technology Articles


Sales of new single-family houses unexpectedly rose to a 16-month high in March. According to figures jointly released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new home sales climbed to a seasonally adjusted annual rate of 692,000, the highest level since November 2017 (712,000) and the second highest since the end of the recession that followed the burst of the housing bubble.

The rise in new home sales, which account for roughly 10 percent of the housing market, coincides with a decline in the median sales price, which dropped to $302,700 in March, the lowest level since February 2017. The drop can largely be attributed to an increase in the share of lower-priced homes being sold, with houses priced below $299,999 accounting for 50 percent of total sales in March, up from 39 percent in March 2018. According to Tuesday’s release, 344,000 homes were for sale at the end of March, virtually unchanged from 345,000 a month earlier.

While new home sales are on the uptick, existing home sales declined by 5.4 percent year-over-year in March to a seasonally adjusted annual rate of 5.21 million. According to the National Association of Realtors, the median price for all existing home types increased to $259,400 in March, marking the 85th consecutive month of rising prices for existing homes.

By Felix Richter  Statista


Senate Follows House Seeking to Make Cannabis Banking
"S.A.F.E."  -- The National Law Review Reports

Sens. Jeff Merkley and Cory Gardner have reintroduced the Secure and Fair Enforcement (SAFE) Banking Act as a companion to House bill HR 1595. The Senate bill (SB 1152), initially introduced in 2017, similarly seeks to protect financial institutions from liability for federal prosecution that could arise from servicing cannabis-related businesses authorized under state law.

Interestingly, Treasury Secretary Steven Mnuchin, appointed by President Trump, supports the legislation for cannabis and banks working with cannabis businesses. He acknowledged that federal regulators have no way to deal with the conflict created by state legalization of cannabis, which is in direct opposition to current federal law.

Speaking in support of the cannabis legislation in the present situation, Attorney General William Barr testified that unless there is a clear federal law prohibiting cannabis, he prefers the state approach and added he will not enforce the federal position on cannabis in those states in which it is legal.

The Senate bill, in its present state, goes slightly further than the House bill. The Senate version specifically blocks federal agencies from prohibiting, penalizing, or discouraging a depository from providing financial services to a "cannabis-related legitimate business or service provider or to a State, political subdivision of a State, or Indian Tribe that exercises jurisdiction over cannabis-related legitimate businesses." It also includes the insurance industry in its bill, which will allow insurance companies to provide coverage to a cannabis business.

While the Senate bill is not yet scheduled for a committee hearing, it will likely occur soon, given that the House version will come to the floor for a vote in a few weeks.

Authors: Ilan A. Nieuchowics, Esq. Barry Leigh Weissman, Esq., Merrick L. Gross, Esq.
  All three shareholders,


Financing Cannabis Funding Sources
  Many Work with Third Party Originators

Alliance Commercial Capital, Inc
161 North Clark Street, 16th Floor
Chicago, Illinois, 60601
888-727-9960 Ext# 6078
Fax: 312-664-3021

Cannabis Program Highlights:
Loan Size:  $25,000 - $10,000,000+
Collateral:  lighting, HVAC, benching, extractors, irrigation, CCTV & related cannabis equipment
Locations:  Nationwide
Business:  The owner/tenant must be licensed and regulated by the State. Personal Guarantees required from all owners. Minimum credit score preferred 700. No bankruptcies in the last 7 years. No unresolved state or federal tax liens.
Application Only: $50,000. 
Documentation required: Submit with our attached credit application, copy of vendor invoice/quote, Bank statements for the last 4 months and copy of State Cannabis License
Time in Business: 2+ years
Terms are from 2 to 5 years 
Interest rates typically average 9-12.75%
Full Disclosure:  Over $50,000
Documentation required: Same as above plus Personal and Corporate tax returns for last 3 years, Personal financial statement for all owners, Debt Schedule, Latest interim Financial Statements.
Start-Ups: Unsecured Business Finance (UBF) program up to $150,000/owner based solely on personal credit. Submit with credit application only.

MoneyTrac Technology, Inc. (“MTT”), a subsidiary of Global Payout, Inc. (OTC:GOHE) , has established and is now marketing an alternative banking solution for the Cannabis industry.

 MTT currently has the ability to integrate and streamline electronic payment processing such as E-wallet, mobile applications, debit cards, and credit cards. Currently, MoneyTrac Technology has strategic partnerships with top cannabis services such as GreenRush, BlazeNow, High Grade Management Group, and PotSaver, which was a majority acquisition last October.

According to Bloomberg, "MoneyTrac Technology, Inc., through its subsidiary, provides electronic wallet and e-banking financial solutions for the marijuana industry. It offers financial technology, which includes an e-wallet and mobile app that allows users to access financial information. The company also provides white labeling services; mobile platform to manage financial transactions; and solutions for accessing account information, making payments, and online bill pay activities. In addition, it offers transaction management services."


"I do know a bit about canna finance in the US and have actually completed a deal or two (it’s mainly all convertible debt).  I ran an event in NYC for over 200 investors at Chelsea Piers and I helped organize, promote and sell out the first Weed Stock conference in Colorado.  I have been an investor in the industry since 2013.

"There are no miracle answers for leases (in most states, ownership of canna assets without being licensed as a canna business would prohibit leasing).  Most deals are done as loans with a conversion provision and pretty harsh default penalty.

"One thing lenders have to keep in mind is that bankruptcy (other than just a state bankruptcy) isn’t available to canna debtors.  Federal judges won’t hear the cases and will dismiss them if they get filed.  In fact most disputes that wind up filed in federal court get dismissed and refiled in state court."

 Organigram Enters into Letter of Intent
with Farm Credit Canada for $10 Million 


Number 1 Enterprises, Inc.
Funding Cannabis, Marijuana, CBD, Hemp Businesses

 “We specialize in structuring your capital infusion. Number 1 is a group of reformed bankers whom grew weary of declining great clients because their loan requests did not fit into the traditional lenders' ‘box’.”  

Through a network of over 8,000 Funding Sources: Private Investors, Investor Groups, Lenders, Co-Brokers, Facilitators, Hedge Funds, etc., we help businesses acquire the necessary capital to grow their business:

  • Debt and Convertible Notes
  • Equity Capital
  • Unsecured Business Financing
  • Purchase Order Financing
  • Accounts Receivable Financing
  • Factoring

Companies have funded or in process of funding include:

1. Marijuana Grower, Extractor, Edibles Maker, Wholesaler, and Dispensary in Alaska
2. Medical Marijuana Conglomerate Acquiring a Building and Additional Capital for Operations in Nevada
3. Medical Marijuana Grower in Arizona
4. National Builder whom builds Grow-houses of all sizes
5. Warehouse Builder in North Florida which leases the space to Cannabis Grow-houses
6. Grower in Northern Nevada
7. Builder & Grower in New Jersey
8. Cannaceuticals and Hemp-based Nutritional Product company based in Florida and Pennsylvania
9. CBD Oil Manufacturer
10. CBD Oil Wholesalers
11. CBD Oil Retailers

“We will leave no stone unturned to ensure every available option for acquiring your business capital.

“With Number 1, We get it done!”

Andrew DiAlberto, President
Number One Enterprises, Inc.                                                                                                                                  3100 NW 46th St.
Suite 208
Ft. Lauderdale, FL 33309 
Tel:  954-204-3292
Cell:  954-579-2584


Vertical Companies

Scott Jordan
Managing Director
Financial Services
Englewood, Colorado
303 887 2750

Scott Jordan leads Vertical’s financial services arm. He has been in Colorado providing access to capital for marijuana business owners since 2009 and has been called “The Marijuana Money Man” by Fox San Francisco and the Denver Post. He created one of the first companies to provide debt-based capital, Dynamic Alternative Finance in 2014, and arranged over $30 million in funding before accepting the position with Vertical as President of the newly created Financial Services division.


Marijuana Industry News



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

Maintains Rank as Largest PrivateIndependent Equipment Finance Company in the Nation

Ascentium Capital LLC, an award-winning equipment finance company, announced the execution of a $375 million small ticket equipment securitization of Ascentium Equipment Receivables Series 2019‐1.

Ascentium Capital’s eleventh securitization involved 26 unique investors and again received AAA ratings from Moody’s and S&P on the Company’s senior class of notes.

Evan Wilkoff, Executive Vice President Capital Markets at Ascentium Capital, said,  “This successful transaction, the AAA ratings and the number of investors interested in our bonds are a testament to our business model including the markets we serve, our proprietary credit decisioning and portfolio diversity”

Ascentium Capital was also ranked as the nation’s largest private independent equipment finance company for the third consecutive year in annual funded new business volume by the Monitor, a publication serving the equipment finance industry.

Tom Depping, Chief Executive Officer at Ascentium Capital, commented,  “Our portfolio stability helped drive our largest securitization during the busiest week for ABS issuances so far this year. Our market strategy drives our growth that enabled us to maintain the rank as the top equipment finance company.

“This success is driven by all of the employees at Ascentium and we look forward to our continued success.”

As a direct lender, Ascentium Capital LLC specializes in providing a broad range of financing, leasing and small business loans. The Company’s offering benefits equipment manufacturers and distributors as well as direct to businesses nationwide. Ascentium Capital is backed by the strength of leading investment firm Warburg Pincus LLC. For more information, please visit

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


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

Equifax acquires PayNet to help expand access
to capital for small and mid-sized businesses

ATLANTA, GA -- Equifax Inc., (NYSE: EFX) a global data, analytics and technology company has acquired PayNet, a company that provides commercial credit risk underwriting and management solutions to online and alternative finance lenders, and commercial finance and leasing companies in the U.S. and Canadian markets. 

PayNet has established a unique and highly regarded data asset in the commercial lending and leasing market. Equifax data combined with PayNet's differentiated and valuable commercial leasing data assets and capabilities strengthens the Equifax Commercial business, data assets, and analytics capabilities. The combined companies' capabilities will be able to provide innovative solutions to commercial customers, helping them grow their business while better managing risk.

Mark W. Begor, CEO, Equifax, said, "Equifax is focused on being a global leader in differentiated data, advanced analytics, and technology that creates innovative solutions and insights for our customers.

"We are intensely focused on adding unique and valuable data assets to couple with our industry-leading data and analytics capabilities. The PayNet acquisition brings unique and valuable commercial leasing data assets to our leading commercial data assets and insights capabilities to enhance decisioning and access to credit for small and medium-sized businesses."

The addition of PayNet's expansive commercial leasing payment data combined with Equifax's differentiated commercial data assets will help drive customer growth in the small and medium commercial space. 

Bill Phelan, President and Co-Founder of PayNet, commented, "I co-founded and ran PayNet with the belief that when commercial lenders are assured of risks, they are more likely to make credit available, unlocking opportunity for small businesses. I believe this aligns perfectly with the Equifax vision.

"The combined companies create the premier set of data on the private credit market in the U.S. and Canada. This will help our customers grow safely and more importantly help Main Street American business gain access to needed capital."

PayNet and its employees are now part of the largest Equifax business unit, United States Information Solutions.

About Equifax
Equifax is a global data, analytics and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit and follow the company's news on Twitter and LinkedIn.

About PayNet 
PayNet, Inc., is the leading provider of credit ratings on small businesses enabling lenders to manage credit risk, grow earning assets and operate credit processes at lower cost. PayNet maintains the largest proprietary database of small business loans, leases and lines of credit encompassing over 24 million contracts worth over $1.6 Trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time marketing intelligence and predictive information that subscribing lenders use to make informed small business financial decisions and improve their business strategy. For more information, visit

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



Fernando's View
By Fernando F. Croce

A mesmerizing enigma (“High Life”) and charming animation (“Missing Link”) come to theaters, while DVD releases include a pair of Oscar nominees (“If Beale Street Could Talk,” “Cold War”) and an indie classic (“Stranger Than Paradise”).

In theaters:

High Life (A24): French director Claire Denis (“35 Shots of Rum”) serves up another mysterious, brutal and poetic rumination on life with this mesmerizing science-fiction tale. The futuristic plot takes place in a space station where criminals are sent to serve their prison sentences. One of them, Monte (Robert Pattinson), becomes the guinea pig of choice for Dr. Dibs (Juliette Binoche), a scientist bent on creating a child through artificial insemination. Through a violent turn of events, Monte becomes the sole survivor of the mission as well as the father of a little girl named Willow. Can they stay together as a family while their spaceship heads inexorably toward a black hole? Turning genre conventions on their head, Denis’ unique film takes a half-disturbing, half-tender look at humans in outer space.

Missing Link (Annapurna Pictures): From Laika, the stop-motion studio behind “Coraline” and “ParaNorman,” comes this charming animated fable directed by Chris Butler. Mr. Link (voiced by Zach Galifianakis) is the titular character, a towering, furry yet gentle and lonely creature who’s determined to find the rest of his family. To do so he recruits Sir Lionel Frost (Hugh Jackman), a jaunty explorer who never turns down an adventure. Along the way they find help from a fellow explorer named Adelina (Zoe Saldana), along with danger from a villainous hunter, Lord Piggot-Dunceb (Stephen Fry). In contrast to many modern animated films, Laika’s latest trades manic humor for quiet whimsy, using the growing relationship between the characters as its emotional center. The results are visually sumptuous, droll, and unexpectedly touching.

Nextflix: A trailblazing figure in the French New Wave, director Agnes Varda (1928-2019) left behind a body of work that brims with curiosity, warmth and generosity. So check out Netflix for her best films, which include “Cleo from 5 to 7” (1962), “Vagabond” (1985), “The Gleaners and I” (2000), “The Beaches of Agnes” (2008), and “Faces Places” (2017).


If Beale Street Could Talk (Angel Films): Barry Jenkins’ follow-up to the Oscar-winning “Moonlight” is just as heartbreaking, romantic and poetic. Adapting James Baldwin’s novel and set in 1970s Harlem, the film explores the passionate but troubled relationship between two young people. Tish (Kiki Layne) tells the tale, recalling her love for Alonzo (Stephan James), a struggling artist whom she’s known since childhood. Their dream of starting a family is met with many hurdles, from family disapproval to an unjust arrest. With the help of Tish’s mother (Regina King, in a fantastic performance), they hope to overcome their problems in the search for true romance. Making gorgeous, sensuous use of cinematic textures, movement, and music, Jenkins creates an aching mood piece that continues to reverberate long after it ends.

Cold War (Amazon): Polish director Pawel Pawlikowski follows his Oscar-winning “Ida” with another dense, visually gorgeous journey into his characters’ emotions. Unfolding from the late 1940s to the 1960s in Europe, it follows the passionate romance between two musical people, young singer Zula (Joanna Kulig) and middle-aged pianist Wiktor (Tomasz Kot). When Wiktor has to leave Poland and move to Paris due to his subversive beliefs, Zula stays behind, beginning a love story spanning many years and even more miles. With the Iron Curtain separating them, they struggle to find ways to get back together despite their differences. Intimately attuned to the ecstasies and longing of the affair, Pawlikowski crafts an arresting, quick-paced tale that brings the political and the personal deftly, achingly together. With subtitles

Stranger Than Paradise (Criterion): One of the essential figures in American independent cinema, writer-director Jim Jarmush (“Paterson”) had his breakthrough hit with this delightfully offbeat comedy from 1984. Set in New York, it follows Hungarian teenager Eva (Eszter Balint), who comes to town to stay with her cousin Willie (John Lurie). Weighted down by inertia, he doesn’t exactly welcome the visitor very warmly. With the help of Willie’s equally dopey friend Eddie (Richard Edson), they decide to embark on a road trip to Florida. Will they find fortune there, or just more bohemian boredom? Wittily ingraining his camerawork itself into the attitudes of the deadbeat characters, Jarmush creates a unique, refreshingly deadpan view of the world. Funny, surprising and poignant, this is one of the filmmaker’s most irresistible works.


Atlanta, Georgia Adopt a Dog


ID 41358093
2 years old
Location: Mansell
Adoption Fee: $250

Atlanta Humane Society
1565 Mansell Road
Alpharetta, GA 30009


Catch the Great Debate at Broker Fair
New York City, May 6th

Panel with:

Mark Ruddock
BFS Capital

Andrew Reiser

Jeremy Brown
Rapid Finance

David Gilbert
National Funding

Two Leasing News Advisors will speak on equipment leasing:

Phil Dushey
Global Financial Services

Edward P. Kaye, Esq.
Access Commercial Capital, LLC
President of Directors
the National Vehicle Leasing Association.

All Speakers:

For more information about the Manhattan Broker Fair
presented by deBanked:

(A little known fact, Sean Murray supplies kosher catering for all the Broker Fairs for Orthodox Jews who attend, a rarity among such meetings. Editor)

Access to the Broker Fair by Brokers is sold out45 spaces for Funder/Lender available at $1,299 each. General Admission sold out.


News Briefs----

LendingClub Changes Strategy With Small Business Lending
  To Stop Originating Them,  Concentrate Consumer Loans

CIT Announces First Quarter 2019 Results
  "Focused on Further Unlocking the Full Potential of CIT"

Boeing says 737 MAX grounding will cost $1 billion
  CEO Munoz says “No idea when 737 Max jets will fly again”

Action continues in 12 states to end time changes
  Arizona/Hawaii: only two states not to take part time change

Facebook Reports First Quarter 2019 Results
  FTC $3 billion & Finance Lease $3.96 Billion Cost

Microsoft sales top estimates amid flurry of cloud wins
  Revenue rose 14% from a year earlier to $30.6 billion


You May Have Missed---

Internet Crime Continues to Escalate
  $1.3 Billion in 2018: FBI


Pouring Rain - Poem by Audrey Heller

Listening to the eerie sound, of
the wind and rain, all around! It's
raining so hard, you can hardly see
and the noise of thunder, makes you,
jumpy as can be! Looking out the
window, it's really coming down, with
all it's might. Actually, there's nothing
but heavy rain, in sight! How bleak it
is, how much more, can we get? All I
can think about is, I'm glad I'm indoors
and won't get wet. How horrible it would
be, to get caught in this pouring rain.
When it rains this hard, it's difficult, for
all that water, to drain. At times like these,
it's best, to be where you're safe, warm
and dry. Looking out of the window,
watching, until it lets up and passes, by!
Let's hope, we'll have a sunny sky
tomorrow and if we do, it's sure to make
our day. For when the sun does shine,
somehow, we all feel fine and go merrily,
on our way!


Sports Briefs---

Matt Miller's Final 2019 NFL Draft Big Board

Examining Marshawn Lynch’s Hall of Fame case
   after his (second) retirement

Bad call can’t tarnish the unbelievable comeback of Sharks


California Nuts Briefs---

It’s no walk in the park on Transbay Transit Center roof
   — path already needs replacing

As SF Bay Area heats up, Gov. Gavin Newsom
     warns of coming wildfire danger

Newsom calls for investigation into California’s high gas prices



“Gimme that Wine”

Last Chance to Grab Innovation + Quality (IQ)
   2019 Tickets at Early-bird Pricing

Berger on wine: Diversity key to each grape varietal

Four Wineries to Taste Iberian-Style Wines in California

Sonoma vintner Joe Roche: 1939-2019

Santa Ynez Valley wine country enjoying a California comeback

Free Wine App

Wine Prices by vintage

US/International Wine Events

Leasing News Wine & Spirits Page


This Day in History

    1507 - Little is known about the obscure scholar now called the "godfather of America," the German geographer and mapmaker Martin Waldseemuller, who gave America its name. In a book titled “Cosmographiae Introductio,” published this day, Waldseemuller wrote: "Inasmuch as both Europe and Asia received their names from women, I see no reason why anyone should justly object to calling this part Amerige, i.e., the land of Amerigo, or America, after Amerigo, its discoverer, a man of great ability." Believing it was the Italian navigator and merchant Amerigo Vespucci who had discovered the new continent, Waldseemuller sought to honor Vespucci by placing his name on his map of the world. First applied only to the South American continent, it soon was used for both the American continents. Waldseemuller did not learn about the voyage of Christopher Columbus until several years later. Of the thousand copies of his map that were printed, only one is known to have survived. Waldseemuller probably was born at Radolfzell, Germany, about 1470. He died at St. Die, France, about 1517-20.
    1719 - Daniel Defoe published "Robinson Crusoe."  The first edition credited the protagonist, Robinson Crusoe, as its author, leading many readers to believe he was a real person and the book a travelogue of true incidents.  It was published under the full title “The Life and Strange Surprizing Adventures of Robinson Crusoe, Of York, Mariner: Who lived Eight and Twenty Years, all alone in an un-inhabited Island on the Coast of America, near the Mouth of the Great River of Oroonoque; Having been cast on Shore by Shipwreck, wherein all the Men perished but himself. With An Account how he was at last as strangely deliver'd by Pyrates.”
    1781 - Gen. Nathanael Greene engaged British forces at Hobkirk’s Hill, South Carolina, and was forced to retreat. 
    1831 - The first streetcar company was incorporated, to be known as the New York and Harlem Railway.
    1861 – Sarah Emma Edmonds (1841-98), alias Frank Thompson, became a male nurse in the Second Volunteers of the United States Army. She later wrote “Nurse and Spy,” published in 1865, a rather lurid and perhaps not too accurate an autobiographical account of her exploits as a Union field nurse in northern Virginia and Kentucky but who was also a spy for the union forces. It has been estimated that approximately 400 women succeeded in enlisting in the army (either Union or Confederate) during the Civil War. She is buried in Washington Cemetery, Houston Texas, in lot G-26. This is a GAR lot that belonged to George B. McClellan Post of the Grand Army of the Republic. She is the only female member of the organization formed after the Civil War by Union veterans - The Grand Army of the Republic (GAR). Her biography, “She Rode with Generals,” was written by Sylvia Gannett. Also, Richard Hall in “Patriots in Disguise” has some biographical information on Edmonds, including her postwar career, but the source of Hall’s comments appears to be from Gannett's book.
    1861 - 7th New York arrived to reinforce Washington, D.C. where it was mustered for thirty days until June 3, 1861.  Also known as the "Blue-Bloods" due to the disproportionate number of its members who were part of New York City's social elite.
    1862 - Admiral Farragut occupies New Orleans, Louisiana.
    1865 - Four of the five Lincoln assassination suspects arrested on the 17th were imprisoned on the monitors U.S.S. Montauk and Saugus which had been prepared for this purpose on the 15th and were anchored off the Washington Navy Yard in the Anacostia River. Mrs. Mary E. Surratt was taken into custody at the boarding house she operated after it was learned that her son was a close friend of John Wilkes Booth and that the actor was a frequent visitor at the boarding house. Mrs. Surratt was jailed in the Carroll Annex of Old Capitol Prison. Lewis Paine was also taken into custody when he came to Mrs. Surratt's house during her arrest. Edward Spangler, stagehand at the Ford Theater and Booth's aide, along with Michael O'Laughlin and Samuel B. Arnold, close associates of Booth during the months leading up to the assassination, were also caught up in the dragnet. They were joined by Arnold on the 19th and Spangler on the 24th. George A. Atzerodt, the would-be assassin of Vice President Andrew Johnson, and Ernest Hartman Richter, at whose home Atzerodt was captured, were brought on board the ships on the 20th. Joao Celestino, Portuguese sea captain who had been heard to say on the 14th that Seward ought to be assassinated, was transferred from Old Capitol Prison to Montauk on the 25th. The last of the eight conspiracy suspects to be incarcerated on board the monitors was David E. Herold. The prisoners were kept below decks under heavy guard and were manacled with both wrist and leg irons. In addition, their heads were covered with canvas hoods, the interior of which were fitted with cotton pads that tightly covered the prisoners' eyes and ears. The hoods contained two small openings to permit breathing and the consumption of food. An added security measure was taken with Paine by attaching a ball and chain to each ankle.
    1875 - New York City received three inches of snow, the latest measurable snow of record for that location.
    1898 - The U.S. declares war on Spain.
    1898 - The temperature at Volcano Springs, CA hit 118 degrees to establish a U.S. record for the month of April.
    1901 - New York began requiring license plates on automobiles, the first state to do so.
    1904 – New York Highlanders pitcher Jack Chesbro won the first of his 41 wins on the season, a Major League record that still stands.
    1907 - Revolutionizing shipping, covered in a “History” Television documentary very well, was the first turbine-propelled naval ship “Chester,” commissioned this day and built at the Bath Iron Works, Bath, ME. The contract price for the hull and machinery was $1,688,000, quite a bit of money for its day. The “Chester” was equipped with four Parsons turbines. It trail speed was 26.52 knots, freeing ships from relying on wind to cross the Atlantic and Pacific Ocean. 
    1908 - Birthday of pianist Joe “from Bowling Green” Dean, St. Louis, MO.
    1908 - Birthday of Edward R. Murrow (d. 1965), born Egbert Roscoe Murrow in Greensboro, North Carolina.  He first came to prominence with a series of radio broadcasts for the CBS news division during World War II, which were followed by millions of listeners in the United States.  A pioneer of television news broadcasting, Murrow produced a series of reports that helped lead to the censure of Senator Joseph McCarthy.  On November 18, 1951, his popular radio show, “Hear It Now” moved to television and was re-christened “See It Now.” In the first episode, Murrow explained: "This is an old team, trying to learn a new trade."  “See It Now” focused on a number of controversial issues in the 1950s, but it is best remembered as the show that criticized McCarthyism and the Red Scare, contributing, if not leading, to the political downfall of Senator McCarthy.
    1910 - Chicago, IL, was blanketed with 2.5 inches of snow, and a total of 6.5 inches between the 22nd and the 26th. It was the latest significant snow of record for the city.
    1913 - Birthday of the great alto sax player Earl Bostic (d. 1965), Tulsa, OK.
(When I was learning how to play the alto sax, he was my favorite in the early 1950’s. I played along with “Harlem Nocturne” for hours until I memorized every lick and turn. It was not until I went to California and saw Charlie Parker in person that I decided I would never become an alto saxophone player and took up playing the Dixieland clarinet and fronting a 21 piece dance band sans musical instrument. I realized I had no talent to be an alto sax player after hearing “the Bird” in person. Charlie Parker with strings is perhaps my favorite album, next to Gil Evans and Miles Davis “Sketches of Spain” or “Old Bottle, New Wine.” or Basie’s “Atom Bomb” album. I also like both “Turk Murphy Plays WC Handy” and “Louis Armstrong plays WC Handy.” I like my friend Warren Luening's Big Band recordings. On yes, forgot, Bill May plays Jimmy Lunceford. Love all the Billy May albums. What a great arranger!!!! 
My dance band could play “Lean Baby, Lean.” Kit Menkin).
    1913 - Birthday of accordion player Santiago “Don” Jimenez (d. 1984), San Antonio, TX.
    1915 - Birthday of guitarist Johnny Shines (d. 1992), Frayser, TN.

    1917 - Birthday of Ella Fitzgerald (d. 1996) in Newport News, Virginia.  She was reared in a New York City orphanage.  Ella Fitzgerald was admired for her superlative musicianship and her skill in scat singing (singing improvised syllables while using the voice as an instrument).  Fitzgerald was discovered at the age of 16, singing in a Harlem talent show. From 1934 until 1939, she sang with the Chick Webb Band, directing it for a time after the leader's death in 1939. One of her first hit tunes is now an Easter favorite,” A Tisket, A Tasket.” In the mid-1940s, working with the American impresario Norman Granz, she toured Europe and Asia and performed in his Jazz at the Philharmonic concerts. Fitzgerald appeared in the 1955 film "Pete Kelly's Blues." In 1958, Fitzgerald appeared with the American jazz composer Duke Ellington at Carnegie Hall in New York City. She has also toured Europe frequently with the Oscar Peterson Trio.

    1923 - Birthday of guitarist/singer Albert King, born Albert King Nelson, (d. 1992), Indianola, MS. He was a star at the Fillmore’s East and West during the 1960's, appearing on the bill with top rock stars. King's most popular records were made for the Stax label in Memphis in the late '60s and early '70s. "Cold Feet" made the pop charts in 1968.
    1928 - Birthday of tenor sax player Willis “Gator Tail” Jackson (d. 1987), Miami, FL.
    1928 - Buddy, the first seeing eye dog, was presented to Morris S. Frank on this day. Many Seeing Eye organizations and schools continue to offer specially trained dogs “ enhance the independence, dignity, and self-confidence of blind people...”  They are now called Service Dogs. (visit 
    1932 - Birthday of Meadow George “Meadowlark” Lemon II (d. 2015), basketball Hall of Famer, born Wilmington, NC.  For 22 years, he was known as the "Clown Prince" of the touring Harlem Globetrotters basketball team.  He played in more than 16,000 games for the Globetrotters and was a 2003 inductee into the Naismith Memorial Basketball Hall of Fame. When basketball legend Wilt Chamberlain was asked his opinion on the best player of all time, he responded, "For me it would be Meadowlark Lemon."  From 1994, he served Meadowlark Lemon Ministries in Scottsdale, AZ.
    1942 - Ella Mae Morse and Freddy Slacks' "Cow Cow Boogie" hits #1
    1945 - East meets West: US Army Lieutenant Albert Kotzebue encountered a single Soviet soldier near the German village of Lechwitz, 75 miles south of Berlin. Patrols of General Leonard Gerow's V Corps saluted the advance guard of Marshall Ivan Konev's Soviet 58th Guards Division. Soldiers of both nations embraced and exchanged toasts. The Allied armies of East and West had finally met.
    1945 - GONZALES, DAVID M., Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company A, 127th Infantry, 32d Infantry Division. Place and date: Villa Verde Trail, Luzon, Philippine Islands, 25 April 1945. Entered service at: Pacoima, Calif. Birth: Pacoima, Calif. G.O. No.: 115, 8 December 1945. Citation: He was pinned down with his company. As enemy fire swept the area, making any movement extremely hazardous, a 500-pound bomb smashed into the company's perimeter, burying 5 men with its explosion. Pfc. Gonzales, without hesitation, seized an entrenching tool and under a hail of fire crawled 15 yards to his entombed comrades, where his commanding officer, who had also rushed forward, was beginning to dig the men out. Nearing his goal, he saw the officer struck and instantly killed by machinegun fire. Undismayed, he set to work swiftly and surely with his hands and the entrenching tool while enemy sniper and machinegun bullets struck all about him. He succeeded in digging one of the men out of the pile of rock and sand. To dig faster he stood up regardless of the greater danger from so exposing himself. He extricated a second man, and then another. As he completed the liberation of the third, he was hit and mortally wounded, but the comrades for whom he so gallantly gave his life were safely evacuated. Pfc. Gonzales' valiant and intrepid conduct exemplifies the highest tradition of the military service.
    1945 - KNIGHT, RAYMOND L., (Air Mission) Medal of Honor
Rank and organization: First Lieutenant, U.S. Army Air Corps. Place and date: In Northern Po Valley, Italy, 24 25 April 1945. Entered service at: Houston, Tex. Birth: Texas. G.O. No.: 81, 24 September 1945. Citation: He piloted a fighter-bomber aircraft in a series of low-level strafing missions, destroying 14 grounded enemy aircraft and leading attacks which wrecked 10 others during a critical period of the Allied drive in northern Italy. On the morning of 24 April, he volunteered to lead 2 other aircraft against the strongly defended enemy airdrome at Ghedi. Ordering his fellow pilots to remain aloft, he skimmed the ground through a deadly curtain of antiaircraft fire to reconnoiter the field, locating 8 German aircraft hidden beneath heavy camouflage. He rejoined his flight, briefed them by radio, and then led them with consummate skill through the hail of enemy fire in a low-level attack, destroying 5 aircraft, while his flight accounted for 2 others. Returning to his base, he volunteered to lead 3 other aircraft in reconnaissance of Bergamo airfield, an enemy base near Ghedi and 1 known to be equally well defended. Again ordering his flight to remain out of range of antiaircraft fire, 1st Lt. Knight flew through an exceptionally intense barrage, which heavily damaged his Thunderbolt, to observe the field at minimum altitude. He discovered a squadron of enemy aircraft under heavy camouflage and led his flight to the assault. Returning alone after this strafing, he made 10 deliberate passes against the field despite being hit by antiaircraft fire twice more, destroying 6 fully loaded enemy twin-engine aircraft and 2 fighters. His skillfully led attack enabled his flight to destroy 4 other twin-engine aircraft and a fighter plane. He then returned to his base in his seriously damaged plane. Early the next morning, when he again attacked Bergamo, he sighted an enemy plane on the runway. Again he led 3 other American pilots in a blistering low-level sweep through vicious antiaircraft fire that damaged his plane so severely that it was virtually nonflyable. Three of the few remaining enemy twin-engine aircraft at that base were destroyed. Realizing the critical need for aircraft in his unit, he declined to parachute to safety over friendly territory and unhesitatingly attempted to return his shattered plane to his home field. With great skill and strength, he flew homeward until caught by treacherous air conditions in the Appennines Mountains, where he crashed and was killed. The gallant action of 1st Lt. Knight eliminated the German aircraft which were poised to wreak havoc on Allied forces pressing to establish the first firm bridgehead across the Po River; his fearless daring and voluntary self-sacrifice averted possible heavy casualties among ground forces and the resultant slowing on the German drive culminated in the collapse of enemy resistance in Italy
    1946 - Jimmie Lunceford Orchestra recorded "Cement Mixer", (Majestic).
    1947 - Theodore Roosevelt National Park established. Located in North Dakota, the Theodore Roosevelt National Park includes two sections of the Badlands on the Missouri River as well as Theodore Roosevelt's Elkhorn Ranch.
    1949 - An article by Deac Aylesworth in Look Magazine predicted that radio was doomed and that within three years, TV would overshadow radio completely.
    1950 - The Boston Celtics made Chuck Cooper, an All-American from Duquesne University playing with the Harlem Globetrotters, the first black player drafted by any NBA team when they selected him in the second round.
    1952 - ESSEBAGGER, JOHN, JR., Medal of Honor
Rank and organization: Corporal, U.S. Army, Company A, 7th Infantry Regiment, 3d Infantry Division. Place and date: Near Popsudong, Korea, 25 April 1951. Entered service at: Holland, Mich. Born: 29 October 1928, Holland, Mich. G.O. No.: 61, 24 April 1952. Citation: Cpl. Essebagger, a member of Company A, distinguished himself by conspicuous gallantry and outstanding courage above and beyond the call of duty in action against the enemy. Committed to effect a delaying action to cover the 3d Battalion's withdrawal through Company A, Cpl. Essebagger, a member of 1 of 2 squads maintaining defensive positions in key terrain and defending the company's right flank, had participated in repulsing numerous attacks. In a frenzied banzai charge the numerically superior enemy seriously threatened the security of the planned route of withdrawal and isolation of the small force. Badly shaken, the grossly outnumbered detachment started to fall back and Cpl. Essebagger, realizing the impending danger, voluntarily remained to provide security for the withdrawal. Gallantly maintaining a l-man stand, Cpl. Essebagger raked the menacing hordes with crippling fire and, with the foe closing on the position, left the comparative safety of his shelter and advanced in the face of overwhelming odds, firing his weapon and hurling grenades to disconcert the enemy and afford time for displacement of friendly elements to more tenable positions. Scorning the withering fire and bursting shells, Cpl. Essebagger continued to move forward, inflicting destruction upon the fanatical foe until he was mortally wounded. Cpl. Essebagger's intrepid action and supreme sacrifice exacted a heavy toll in enemy dead and wounded, stemmed the onslaught, and enabled the retiring squads to reach safety. His valorous conduct and devotion to duty reflected lasting glory upon himself and was in keeping with the noblest traditions of the infantry and the U.S. Army.
    1953 - MIYAMURA, HIROSHI H., Medal of Honor
Rank and organization: Corporal, U.S. Army, Company H, 7th Infantry Regiment, 3rd Infantry Division. Place and date: Near Taejon-ni, Korea, 24 and 25 April 1951. Entered service at: Gallup, N. Mex. Birth: Gallup, N. Mex. G.O. No.: 85, 4 November 1953. Citation: Cpl. Miyamura, a member of Company H, distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action against the enemy. On the night of 24 April, Company H was occupying a defensive position when the enemy fanatically attacked threatening to overrun the position. Cpl. Miyamura, a machine gun squad leader, aware of the imminent danger to his men unhesitatingly jumped from his shelter wielding his bayonet in close hand-to-hand combat killing approximately 10 of the enemy. Returning to his position, he administered first aid to the wounded and directed their evacuation. As another savage assault hit the line, he manned his machine gun and delivered withering fire until his ammunition was expended. He ordered the squad to withdraw while he stayed behind to render the gun inoperative. He then bayoneted his way through infiltrated enemy soldiers to a second gun emplacement and assisted in its operation. When the intensity of the attack necessitated the withdrawal of the company Cpl. Miyamura ordered his men to fall back while he remained to cover their movement. He killed more than 50 of the enemy before his ammunition was depleted and he was severely wounded. He maintained his magnificent stand despite his painful wounds, continuing to repel the attack until his position was overrun. When last seen he was fighting ferociously against an overwhelming number of enemy soldiers. Cpl. Miyamura's indomitable heroism and consummate devotion to duty reflect the utmost glory on himself and uphold the illustrious traditions on the military service. 
    1953 - NBC-TV presented "Ethel and Albert", the video version of the popular radio show. Peg Lynch and Alan Bunce starred in the program
    1954 - Bell Telephone Laboratories, New York City, announced the invention by Gerald Pearson, Calvin Fuller, and Daryl Chapin of a solar energy battery to convert the sun’s energy into useful amounts of electricity. Made of specially treated strips of silicon, the battery needed no fuel other than the light of the sun. It had no moving parts, nothing in it was consumed or destroyed, and theoretically it was possible for it to last indefinitely.
    1956 - Malcolm McLean of Maxton, NC invented containerized shipping.  He developed a large shipping container that could be packed with goods at the factory, hauled by truck to a port facility, carried on a specially fitted ships to a port terminal, offloaded from the ship, and hitched directly to trucks or loaded on freight cards for cross-continental transport, all without unpacking the containers' contents. The first containership facility was the Elizabeth-Port Authority Marine Terminal, operated by the Port of New York Authority. It opened for business on August 15, 1962, when Sea-Land Service’s SS Elizabethport docked in New Bay, Elizabeth, NJ. During its first year, the facility handled 1.5 million tons of cargo on 242 vessels and employed 730 people, who earned a total of more than $4 million. This revolutionized the entire shipping industry, plus gave birth to container and railroad carrier leasing.
    1956 - Elvis Presley reached number one on the charts for the first time, with "Heartbreak Hotel." It was Presley's first hit for RCA Victor after the company purchased his contract from Sam Phillips of Sun Records for $35,000.
    1956 - The Italian luxury liner Andrea Doria collides with the Swedish liner Stockholm, the latter tearing a hole in the starboard hull of the former, killing 52 instantly and causing the Andrea Doria to sink by morning. On board is one Mike Stoller, who would go on to become one of the famous Lieber-Stoller songwriting team.
    1957 – Major League Baseball adopted a new rule that prohibits runners from interfering with batted balls in the field of play. The rule was adopted in reaction to recent actions by several Cincinnati Reds baserunners. Earlier in the week, Don Hoak and Johnny Temple had intentionally interfered with batted balls as a way of preventing double plays.  The rule gives the batter a single and the runner, if hit by the batted ball, is out and the play is dead.
    1958 - Arnold Palmer struggled to a final round 73, one over par, but still won the first of his four Masters championships. Palmer finished at 284, one shot better than Doug Ford and Fred Hawkins. He would win the tournament again in 1960, 1962 (in a playoff) and 1964.
    1959 - The canal incorporated into a seaway opened a 400-mile waterway between Montreal and Lake Erie, connecting the St. Lawrence River with the Great Lakes. It formed part of the St. Lawrence Seaway, 2,342 miles long, which allowed oceangoing ships to travel from the Atlantic Ocean to Duluth, MN.
    1960 - Elvis Presley's first release since leaving the US Army, "Stuck On You" tops the Billboard chart. The record had been so highly anticipated, it sold over one million copies before it was even recorded.
    1960 - With the Folk music craze in full swing, The Brothers Four enjoyed their biggest hit as "Greenfields" reached #2 on the Billboard chart.
    1961 - Robert Noyce patented the integrated circuit which he invented with Jack Kilby. Noyce, nicknamed "the Mayor of Silicon Valley," co-founded Fairchild Semiconductor in 1957 and Intel in 1968.
    1964 - President Lyndon B. Johnson announces that General William Westmoreland will replace Gen. Paul Harkins as head of US Military Assistance Command Vietnam (MACV) as of 20 June. The assignment would put Westmoreland in charge of all American military forces in Vietnam. One of the war's most controversial figures, General Westmoreland was given many honors when the fighting was going well, but when the war turned sour, many Americans saw him as a cause of US problems in Vietnam. Negative feeling about Westmoreland grew particularly strong following the Tet Offensive of 1968, when he had requested a large number of additional troops for deployment to Vietnam. On 22 March 1968, President Johnson announced that Westmoreland would leave South Vietnam to take on the post of Army Chief of Staff; Gen. Creighton Abrams replaced him as the senior US commander in South Vietnam.
    1964 - Dionne Warwick's "Walk on By" enters the Hot 100. Her fifth and thus far, biggest hit will eventually get to #6 on the chart for 13 weeks.
    1964 - Peter and Gordon reach Number One on the U.K. pop chart with "World without Love," a song composed by Paul McCartney of the Beatles
    1965 - Backed by the Paul Butterfield Blues Band, Bob Dylan takes the stage at the Newport Folk Festival and plays his first-ever set of electric songs, horrifying many (but, contrary to legend, not all) in the crowd. After three songs, an upset Dylan says "Let's go, man, that's all," and the band leave the stage, only to be coaxed back out by Peter, Paul and Mary to play two more originals in the more "appropriate" acoustic manner. (Mainly because the band, a last-minute idea of Dylan's, only knew the three songs.)
    1967 - Abortion first legalized: the first law legalizing abortion in the US was signed by Colorado Governor John Arthur Love. The law allowed therapeutic abortions in cases in which a three-doctor panel unanimously agreed.
    1967 - STUMPF, KENNETH E., Medal of Honor
Rank and organization: Staff Sergeant (then Sp4c.), U.S. Army, Company C, 1st Battalion, 35th Infantry, 25th Infantry Division. Place and date: Near Duc Pho, Republic of Vietnam, 25 April 1967. Entered service at: Milwaukee, Wis. Born: 28 September 1944, Neenah, Wis. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. S/Sgt. Stumpf distinguished himself while serving as a squad leader of the 3d Platoon, Company C, on a search and destroy mission. As S/Sgt. Stumpf's company approached a village, it encountered a North Vietnamese rifle company occupying a well-fortified bunker complex. During the initial contact, 3 men from his squad fell wounded in front of a hostile machinegun emplacement. The enemy's heavy volume of fire prevented the unit from moving to the aid of the injured men, but S/Sgt. Stumpf left his secure position in a deep trench and ran through the barrage of incoming rounds to reach his wounded comrades. He picked up 1 of the men and carried him back to the safety of the trench. Twice more S/Sgt. Stumpf dashed forward while the enemy turned automatic weapons and machineguns upon him, yet he managed to rescue the remaining 2 wounded squad members. He then organized his squad and led an assault against several enemy bunkers from which continuously heavy fire was being received He and his squad successfully eliminated 2 of the bunker positions, but one to the front of the advancing platoon remained a serious threat. Arming himself with extra hand grenades, S/Sgt. Stumpf ran over open ground, through a volley of fire directed at him by a determined enemy, toward the machinegun position. As he reached the bunker, he threw a hand grenade through the aperture. It was immediately returned by the occupants, forcing S/Sgt. Stumpf to take cover. Undaunted, he pulled the pins on 2 more grenades, held them for a few seconds after activation, then hurled them into the position, this time successfully destroying the emplacement. With the elimination of this key position, his unit was able to assault and overrun the enemy. S/Sgt. Stumpf's relentless spirit of aggressiveness, intrepidity, and ultimate concern for the lives of his men, are in the highest traditions of the military service and reflect great credit upon himself and the U.S. Army.
    1967 - Just days after completing "Sgt. Pepper's Lonely Hearts Club Band", The Beatles laid down tracks for "Magical Mystery Tour" at Abbey Road studios in London.
    1968 - SPRAYBERRY, JAMES M., Medal of Honor
Rank and organization: Captain (then 1st Lt.), U.S. Army, Company D, 5th Battalion, 7th Cavalry, 1st Cavalry Division (Airmobile). Place and date: Republic of Vietnam, 25 April 1968. Entered service at: Montgomery, Ala. Born: 24 April 1947, LaGrange, Ga. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Capt. Sprayberry, Armor, U.S. Army, distinguished himself by exceptional bravery while serving as executive officer of Company D. His company commander and a great number of the men were wounded and separated from the main body of the company. A daylight attempt to rescue them was driven back by the well-entrenched enemy's heavy fire. Capt. Sprayberry then organized and led a volunteer night patrol to eliminate the intervening enemy bunkers and to relieve the surrounded element. The patrol soon began receiving enemy machinegun fire. Capt. Sprayberry quickly moved the men to protective cover and without regard for his own safety, crawled within close range of the bunker from which the fire was coming. He silenced the machinegun with a hand grenade. Identifying several l-man enemy positions nearby, Capt. Sprayberry immediately attacked them with the rest of his grenades. He crawled back for more grenades and when 2 grenades were thrown at his men from a position to the front, Capt. Sprayberry, without hesitation, again exposed himself and charged the enemy-held bunker killing its occupants with a grenade. Placing 2 men to cover his advance, he crawled forward and neutralized 3 more bunkers with grenades. Immediately thereafter, Capt. Sprayberry was surprised by an enemy soldier who charged from a concealed position. He killed the soldier with his pistol and with continuing disregard for the danger neutralized another enemy emplacement. Capt. Sprayberry then established radio contact with the isolated men, directing them toward his position. When the 2 elements made contact he organized his men into litter parties to evacuate the wounded. As the evacuation was nearing completion, he observed an enemy machinegun position which he silenced with a grenade. Capt. Sprayberry returned to the rescue party, established security, and moved to friendly lines with the wounded. This rescue operation, which lasted approximately 71/2 hours, saved the lives of many of his fellow soldiers. Capt. Sprayberry personally killed 12 enemy soldiers, eliminated 2 machineguns, and destroyed numerous enemy bunkers. Capt. Sprayberry's indomitable spirit and gallant action at great personal risk to his life are in keeping with the highest traditions of the military service and reflect great credit upon himself, his unit, and the U.S. Army.
    1969 - At the end of their gig at the Fillmore in San Francisco, Crosby, Stills and Nash invite Neil Young on stage to back them on a couple of songs, and they like the result so much he almost immediately becomes part of the band. 
    1970 - DJs around the U.S. played the new number one song, "ABC", quite often, as the Jackson 5 reached the number one spot in pop music for two weeks. "ABC" was the second of four number one songs in a row for the group from Gary, IN. "I Want You Back" was their first. "ABC" was one of 23 hits for Michael, Tito, Jackie, Jermaine and Marlon. "ABC" was knocked out of first place by The Guess Who and their hit, "American Woman".
    1970 - The Carpenters' "(They Long To Be) Close To You" hits #1
    1972 - Bill Sharman, ending his first year as head coach of the Los Angeles Lakers, was named Coach of the Year in the National Basketball Association (NBA). Sharman had a first year record of 69-13.
    1973 - The group, The Sweet, received a gold record for the hit "Little Willy". The English rocker band recorded four hits in addition to their first million-seller, "Ballroom Blitz", "Fox on the Run", "Action" and "Love is like Oxygen". "Little Willy" was a top-three hit, while the group’s other gold record winner, "Fox on the Run" made it to the top five.
    1974 - The National Football League adopted a 15-minute, sudden death quarter in an effort to reduce the number of tie games. The league also moved the goal posts from the goal line to the back line of the end zone to make it more difficult to kick field goals.
    1975 - The musical “A Chorus Line” debuts on Broadway, the first of what would be 6,137 performances over fifteen years
    1976 - Center fielder Rick Monday of the Chicago Cubs rescued an American flag from two fans who ran onto the field and attempted to set it on fire. The incident occurred in Dodger Stadium in the fourth inning of a 5-4, 10 inning victory by the Dodgers.
    1976 - No. 1 Billboard Pop Hit:  “Let Your Love Flow,'' Bellamy Brothers.
    1977 - At a concert at the Saginaw, Michigan Civic Center, Elvis Presley makes what will be the last recordings of his life. Three songs from the show will appear, in heavily overdubbed mixes, on the posthumously released Presley album, "Moody Blue."
    1978 - Queen's single "We Are the Champions" was certified Platinum. 
    1979 - The film "Rock & Roll High School" starring the Ramones premiers.
    1980 - President Jimmy Carter tells the American people about the hostage rescue disaster in Iran.
     1985 - "Big River (The Adventures of Huckleberry Finn)" opened at the Eugene O’Neill Theatre on Broadway in New York City. The Tony Award-winning score for the show was written by Roger Miller (his first Broadway production). The show, about life on the Mississippi, with Daniel Jenkins in the starring role of Huck Finn, ran for 1,005 performances and won the Tony for Best Musical of the Year. "Big River" picked up several more Tony Awards: Featured Actor in a Musical to Ron Richardson; Best Director (Musical) to Des McAnuff; Best Book (Musical) to William Hauptman; and Best Scenic Designer and Lighting Designer to Heidi Landesman and Richard Riddell respectively. 
    1988 - Top Hits
“Wishing Well” - Terence Trent D Arby
“Anything for You” - Gloria Estefan
“Angel” - Aerosmith
“Where Do Broken Hearts Go” - Whitney Houston
“Pink Cadillac” - Natalie Cole
    1990 - Hubble Space Telescope: deployed by Discovery, the telescope is the largest on-orbit observatory to date and is capable of imaging objects up to 14 billion light-years away. The resolution of images was expected to be seven to ten times greater than images from Earth-based telescopes, since the Hubble Space Telescope is not hampered by Earth's atmospheric distortion. Launched Apr 12, 1990, from Kennedy Space Center, FL. Unfortunately, the telescope's lenses were defective, so the anticipated high quality of imaging was not realized. In 1993, however, the world watched as a shuttle crew successfully retrieved the Hubble from orbit, executed the needed repair and replacement work and released it into orbit once more. In December, 1999, the space shuttle Discovery was launched to do extensive repairs on the telescope.
    1990 - The Fender Stratocaster that Jimi Hendrix used to perform the "Star Spangled Banner" at Woodstock is auctioned off in London for $295,000.
    1993 - Top Hits
“Freak Me” - Silk
“Informer” - Snow
“Nothin’ But a ‘G’ Thang” - Dr. De
“I Have Nothing” (from the “Bodyguard”) - Whitney Houston
    1994 - Yankee Stadium in New York holds their first "Joe DiMaggio Day," featuring Paul Simon singing "Mrs. Robinson" (and cheers when he gets to "Where have you gone, Joe DiMaggio?"). 
    1995 - The 257-day strike ends as the Dodgers beat the Marlins 8-7. The work stoppage caused last season to end early, force the cancellation of World Series, and delayed the opening of this season.
    1996 - U2 began their first tour in more than four years before a sellout crowd of 38,000 in Las Vegas. The band featured 11 songs from its "Pop Mart" album but the audience reacted more enthusiastically to such U2 standards as "Pride (in the Name of Love)" and "Where the Streets Have No Name." The glitzy and extravagant show featured what was billed as the world's biggest TV screen and the band emerging from an enormous lemon-shaped mirror ball suspended above the stage. 
    1998 - The 'Iron Man's' streak continues as Cal Ripken plays in his 2,500th consecutive game as the Orioles host the A's at Camden Yards.
    2001 - Padres' outfielder Rickey Henderson, 42, breaks the career walks record established by Babe Ruth when he receives his 2,063rd base on balls.
    2002 - Top Hits
“Foolish” - Ashanti
“What’s Luv” - Fat Joe featuring Ashanti
“U Don’t Have to Call” - Usher
“I Need a Girl” (part 1) - P. Diddy featuring Usher and Loon
“Ain’t It Funny” - Jennifer Lopez featuring Ja Rule
    2012 - In Illinois, a Cook County Circuit Court ruled that the tax levied on Internet businesses is unconstitutional.

NBA Finals Champions:
    1952 - Minneapolis Lakers
    1965 - Boston Celtics

Stanley Cup Champions:
    1964 - Toronto Maple Leafs



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