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Leasing News is a website that posts information, news, and
entertainment for the commercial alternate financing,
bank, finance and leasing industries

Wednesday, April 29, 2020

Today's Leasing News Headlines

Pictures from the Past
Bulletin Board Complaints
   By Christopher Menkin, Editor
Developing Strong Leaders for the Commercial
   Equipment Finance and Leasing Industry
    By Scott Wheeler, CLFP
Cash Flow is King
Should the Economy Reopen Now?  Chart
   Opinions in Selected Country about Economy Reopenings
Used Truck Prices Fall
   Some Good Bargains to be Had
Marijuana Edibles Could Become More Popular
   After Coronavirus Outbreak
German Shepherd
   Santa Barbara County, California  Adopt a Dog
Live Free Stick Mobility Workout with Dennis Dunphy
   Bring a Six Foot Thin Pole or Plastic Irrigation Pipe
    (rubber cap on both ends or get Mobility Stick)
News Briefs---
‘I just want to know who made the bad loans’
    Cramer blasts small business loan program
Confirmed coronavirus cases top 1 million in US
   ‘We have to have a breakthrough!’
14,000 Stanford Health Care workers hit
   with furloughs, pay cuts
60% Drop in Doctor Visits Threatens
   Huge Physician Shortage
Ford expects $5 billion loss in current quarter
    due to coronavirus impact
Texas Regional Manufacturing Activity Slides
   Deep Into Recession Territory
TripAdvisor cuts 900 jobs as it reduces
    workforce by 25 percent, closes Boston office
Supreme Court requires government to pay
   health insurers under Affordable Care Act
Trump’s claim the Postal Service loses money
   on every e-commerce package it delivers
Coronavirus Q & A Part 4: Is air-conditioning a risk?
Analysis: These states are risking the most
     by reopening early

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months (Be Careful of Doing Business)
Leasing News Icon for Android Mobile Device

May Have Missed
  Sports Brief----
   California Nuts Brief---
    "Gimme that Wine"
     This Day in History
       Daily Puzzle
         Weather, USA or specific area
          Traffic Live----

######## surrounding the article denotes it is a “press release,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer, it is considered a “byline.” It reflects the opinion and research of the writer.

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Pictures from the Past

Doug Erwin
Past President Financial Pacific

Douglas G. Erwin, now retired, was a great leader in motivation; well-known for ringing the bell, cheering on his staff.

Under the 1995 picture, he states: “I look forward to spending time with all of our brokers.  I consider it one of the most important and pleasant things that I do. As our company has grown, our broker “partners” have become more and more important to financial Pacific Company.  The knowledge, experience and ability of our brokers has greatly enhanced the quality of our portfolio.  We value the relationships we have developed over the years and look forward to providing the service necessary to keep our relationships thriving.”

Financial Pacific was originally a local company that expanded to the Northwest, then opened in the Los Angeles market place before  expanded nationwide.

President succession: from Douglas G. Erwin to David Schaefer, CLFP, to Dale A. Winter to Paul Menzel, CLFP, now Terey Jennings, CLFP.

Dave Schafer, SVP 1996

Fall, 2000
Paul Menzel, Senior Vice-President; Devon Vinsonhaler, Regional Marketing Representative; and  Steve Reid, Assistant Vice-President, Santa Barbara Bank & Trust. 

Terey Jennings, CLFP, Riding the Waves of Success,
 UAEL Monterey Winter Conference



Bulletin Board Complaints
By Christopher Menkin, Editor

The most recent complaints Leasing News has received are from brokers involving restaurant leases.

One involved an approval on equipment that was delayed.  When delivery was completed, the vendor was slow with the invoice, but when received, the leasing company said they were no longer approving restaurant equipment and the approval had expired. There was an approval date on the leasing company’s documents. A third-party origination document was not used. 

The broker was livid. The lessee was angry as was the vendor. The broker wanted Leasing News to call the leasing company and threaten a complaint if nothing was accomplished.  I told the broker that the leasing company had legitimate position. The best thing was to take the deal somewhere else; I advised and named other leasing companies no  longer taking restaurant business. I advised to make friends with the leasing company, that sources were valuable today, and to move quickly to get approved elsewhere.  I suggested a few places.

Here is one received Monday.

"I would like to share with you an unpleasant experience I had recently with ******. I had a deal approved “AA” back in January. This is one of their highest credit grades. I was very happy. I DocuSign’d the deal and the vendor purchased the equipment from the manufacturer.

"On March 31st, Time Payment told me they would prefer to delay funding. I was very understanding, with everything going on, even though the vendor was anxious to get paid. Last week, I couldn’t put the vendor off anymore since they were coming up on 30 days with their manufacturer.  I went to fund and the approval had expired. No big deal, I thought. I just put it in for re-approval. Later that day, I get a notice. NOT APPROVED. *High Risk Industry. I reached out to my rep who defended ****** stance. I have lost the vendor and they are also threatening to put a collection on my Dun & Bradstreet report, which is squeaky clean.

"I’ve been in the business 25+ years. Starting at *****, then **** and I've been a broker for ***** since 2006.

"I would advise other lease brokers out there to think twice before sending **** any future business once this passes. There are plenty of reputable funding sources out there who will be with you in the good times and the difficult times."

My reaction was to tell him due to the time factor of approval and delivery, the leasing company had the prerogative to not approve the deal. I suggested the first thing to do was to call his rep at the leasing company, tell them you understand and keep a good source that he had be working with for 24 years!  See if the vendor and lessee need help in getting the lease placed.  I also named the leasing companies no longer looking a restaurant deals.

Times are tough.  Don't lose a valuable source just because one deal went sour!


Developing Strong Leaders for the Commercial
Equipment Finance and Leasing Industry
By Scott Wheeler, CLFP

Uncertain Times   
It is important to remind seasoned originators and newer originators who are experiencing their first downturn that uncertain times require more due diligence, not less. Knowing your customers, your vendors, and your business partners are essential to your survival and your ability to thrive. Tough questions need to be asked at every stage of the process. Make sure that you fully understand every transaction. Make sure that every transaction passes the "gut check" and makes sense.

Smart companies are rightfully taking the following actions to protect their assets and top originators need to embrace these prudent decisions:

  • Tightening their credit requirements across the board
  • Significantly reducing their application-only programs to lower dollar amounts. Companies want a full package on even smaller transactions to ensure that they are making prudent credit decisions.
  • Conducting additional equipment valuations
  • Re-vetting vendors with more vigor (especially vendors requesting pre-funding)

Companies are returning to the basics of lending.
"Know your Customers."

Successful originators in the commercial equipment leasing and finance industry are taking the lead and are digging deeper into every opportunity. They fully understand their clients' past, present, and future plans. Top originators are taking this opportunity to build deeper, more meaningful relationships with the strongest partners. End-users and vendors appreciate originators who are more than a salesperson. They are personal advisors; professionals who take the time to understand their business. The relationships built during these uncertain times will propel top originators through the recovery to better tomorrows.

Survive - Thrive - Lead  

Order via Amazon:  

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161





Should the economy reopen now? People around the world have very different opinions and feelings about this according to a survey by Ipsos.

Russians are most in favor of restarting the economy and are also among the most fearless if it were to happen. Germans look towards a reopening of businesses and a resumption of travel with even more ease, knowing that their country has put on a good coronavirus response. Only 44 percent of Germans are nervous about venturing out again. Yet, Germans are still somewhat split on the prospect of the economy starting back up, despite the fact that businesses in the country have slowly started opening.

India, which has been under a rather strict lockdown since late March, might not extend business closings and all travel restrictions beyond May 3. This is a prospect that makes almost 80 percent of Indians nervous - the most out of 14 countries in the survey. Yet - maybe out of a consideration of necessity - Indians are slightly in favor of opening up again, with 51 saying they agree with it and 43 percent saying they disagree.

China and Italy - two countries at the frontlines of the coronavirus pandemic - both have a majority of people saying the economy should restart. While the Chinese remain cautious nevertheless and were the second-most worried about going out again in the survey, Italians who have faced the longest lockdown in Europe to-date, feel more ready to resume normal life.

By Katharina Buchholz, Statista



Used Truck Prices Fall
Some Good Bargains to be Had

Steve Tam, Vice President at ACT Research, reported, “Dealers are reporting that there are more trucks than buyers, which is not new news. This has kept downward pressure on prices, particularly for late model aerodynamic sleepers,” said. He continued.

 “Some dealers are saying they just want to get rid of inventory and take their losses. Dealers had become accustomed to getting more money than what is normal for used trucks in 2018 and early 2019.”

Tam added, “When trucks are overvalued, sellers can ask for higher pricing on their used trucks, as long as demand supports higher-than-normal prices. Unfortunately, when the market adjusts, taking big losses is the only solution. The good news for buyers in a falling used truck market is that there are some very good bargains to be had.”




Marijuana Edibles Could Become More Popular
After Coronavirus Outbreak

The coronavirus pandemic is like nothing we’ve ever experienced. The virus has quite literally ground the globe to a halt with most businesses shut down and people stuck indoors. The chances of kicking it in the foreseeable future are quite slim, and experts say life may not go back to normal when we eventually do.

Cannabis was lucky enough to be declared essential by most state governments that allow marijuana within their borders. Not only has this proved just how important the industry is to the millions of patients and the over 200,000 employees that rely on it, but it has shown that governments are willing to accept marijuana.

In fact, as soon as most lockdowns were announced, cannabis stores reported massive spikes in demand. According to Elliot Dobris, a spokesperson for the Apothecarium, a dispensary with three San Francisco locations, the day of shelter in place was the busiest day they’d ever had. “We’ve never had longer lines than that, including 4/20 and the first days of recreational sales in the state, ever. Stores were absolutely slammed.”

Pot stores have also reported another interesting development. They are recording higher edible sales than ever before, while flower and vape sales have gone down. Eaze, a  California based marijuana delivery company has seen edible sales increase from 15% to 30%, while flower and vape sales have reduced from 25% to 17% and 33% to 25% respectively.

That is to be expected. The coronavirus attacks the respiratory system, and experts say smoking will compromise your lung health, thereby putting you at greater risk of developing severe symptoms if you do contract the virus. And as folks still need their cannabis, they have turned to ingesting it, which is arguably the safest way to use cannabis.

Dr. Michael Matthay, Associate Director of Critical Care Medicine at UCSF, noted, “Based on prior studies with other pulmonary infections, both bacterial and viral, it is highly likely that cigarette smoking and vaping will increase the risk of coronavirus pneumonia and increase its severity, though we don’t know to what extent.”

It is feasible that even after the outbreak dies down, people might stick to edibles. Long time marijuana users often transition to edibles to preserve their lung health, and as experts say we might be stuck with the virus for quite a while, it would make sense to continue using edibles.

Edibles do have a certain reputation, but that’s because most first-timers jump in without doing their research. As more of the THC in the cannabis is absorbed, edibles can be quite strong. This shelter in place time could give folks time to experiment and find out just what works for them, and it may shape their preferences in the future.

Cannabis Equipment Leasing


German Shepherd
Santa Barbara County, California  Adopt a Dog


ID #A459962
Black and Brown
3 Years Old
Shelter since April 11, 2020

Shelter Staff made the following comments about this animal:
My name is Sam! I am currently looking for a home that will enjoy having an energetic pup. My previous owner said I enjoy my baths and being brushed. What can I say, "This guy loves to be pampered!" Even though I may be an energetic boy, I am also very affectionate. I like larger dogs and would prefer to not be with smaller dogs. If you're a person that loves to be in the outdoors, we just might be the perfect match. Come visit me at the Santa Barbara Shelter.

For more information about this animal, call:
Santa Barbara County Animal Services - Santa Barbara at (805) 681-5285
Ask for information about animal ID number A459962

Adoption Procedure:

Santa Barbara County Animal Services
5473 Overpass Road
Goleta, CA 93117
Telephone: (805) 681-5285



Live Free Stick Mobility Workout with Dennis Dunphy
Bring a Six Foot Thin Pole or Plastic Irrigation Pipe
(rubber cap on both ends or get Mobility Stick)

For More Information:


News Briefs----

‘I just want to know who made the bad loans’
    Cramer blasts small business loan program

Confirmed coronavirus cases top 1 million in US.
   ‘We have to have a breakthrough!’

14,000 Stanford Health Care workers hit
   with furloughs, pay cuts

60% Drop in Doctor Visits Threatens
   Huge Physician Shortage

Ford expects $5 billion loss in current quarter
    due to coronavirus impact

Texas Regional Manufacturing Activity Slides
   Deep Into Recession Territory

TripAdvisor cuts 900 jobs as it reduces
    workforce by 25 percent, closes Boston office

Supreme Court requires government to pay
   health insurers under Affordable Care Act

Trump’s claim the Postal Service loses money
   on every e-commerce package it delivers

Coronavirus Q & A Part 4: Is air-conditioning a risk?

Analysis: These states are risking the most
     by reopening early

The race for coronavirus vaccines: a graphical guide
   More than 90 vaccines are being developed by research teams across the world



You May Have Missed---

Bridge report reveals one-third of U.S. bridges need repairs


The German Shepherd Dog

The stately German Shepherd-
Protective, bold and smart,
Looked into my eyes one day
And quickly stole my heart.
Courageous and endearing,
A favorite of its breed,
So proud and yet so loving,
A steadfast friend indeed.
Caring disposition,
Faithful to the core-
If you have a Shepherd’s love,
You cannot want for more.

- Author Unknown


Sports Briefs---

NFL says Tom Brady's house call to Bucs offensive
  coordinator didn't violate league rules

Patriots draft pick Justin Rohrwasser vows to remove
   tattoo associated with controversial group

Raiders made right call in rejecting Bucs' first-round trade offer


California Nuts Briefs---

California may start next school year sooner
   if coronavirus is under control

Retail, manufacturing will be among first to reopen
   when California alters stay-at-home order

University of California, state college systems
   ‘profiting from this pandemic,’ student lawsuits claim

San Francisco Bay Area counties extend coronavirus
   stay-at-home orders to end of May

California could become first state to borrow
   to pay unemployment benefits during coronavirus crisis



“Gimme that Wine”

Early freeze, drop in demand lead to smallest harvest
   for Washington wine since 2012

Silver Oak winery gets environmental honor for Healdsburg building

French winemakers adapt to the challenges of Covid-19
  1:59 video

Free Wine App

Wine Prices by vintage

US/International Wine Events

Leasing News Wine & Spirits Page


This Day in History

    1749 - Benjamin Franklin on the banks of the Schuylkill River, Philadelphia, PA, became the first person to cook by electricity. He wrote: “A turkey is to be killed for our dinner by the electrical shock and roasted by the electrical jack, before a fire kindled by the electrified bottle.”
    1845 - Macon B. Allen and Robert Morris, Jr., become the first African-American lawyers admitted to the bar in Massachusetts.
    1852 - Peter Roget's Thesaurus was published for the first time.  The original edition had 15,000 words and each new edition has been larger.  The Karpeles Manuscript Library Museum houses the original manuscript in its collection.
    1854 - The first college for African-American students was the Ashmun Institute, Chester County, PA. It was named after Jeshudi Ashmun, the reorganizer of the colony of Liberia. In 1966, the college name was changed to Lincoln University.
    1861 – The Maryland House of Delegates voted against secession from the Union.
    1863 – Publisher William Randolph Hearst (d. 1951) was born in San Francisco.  He built the nation's largest newspaper chain and whose methods profoundly influenced American journalism.  Hearst entered the publishing business in 1887 after taking control of The San Francisco Chronicle from his father. Moving to New York City, he acquired The New York Journal and engaged in a bitter circulation war with Joseph Pulitzer’s New York World that led to the creation of yellow journalism—sensationalized stories of dubious veracity. Acquiring more newspapers, Hearst created a chain that numbered nearly 30 papers in major American cities at its peak. He later expanded to magazines, creating the largest newspaper and magazine business in the world.
    1873 - Eli Hamilton Janney of Alexandria, VA, obtained a patent on an “improvement in car-couplings.” Eventually every railroad coupler with which every railroad car in the United States, Canada, and Mexico was equipped with his invention.
    1899 - Jazz pianist, composer and bandleader Edward Kennedy (Duke) Ellington (d. 1974) was born in Washington, DC. He made his first professional appearance as a jazz pianist in 1916, and two years later formed his first band. After appearances in Harlem nightclubs, Duke Ellington's orchestra became one of the most famous jazz bands and remained so for more than 50 years. Some of Ellington's best-known songs include "Take the A Train," "Mood Indigo," "Solitude" and "Sophisticated Lady." He also wrote a number of concert works including "Creole Rhapsody" and "Black, Brown and Beige." Ellington made hundreds of recordings before his death in 1974.
    1901 - For the first and only time, the Kentucky Derby was run in April instead of May. The winning cold was “His Eminence,” ridden by Jimmy Winkfeld. Sannazarro finished second, a length-and-a-half back.
    1902 – Baltimore Orioles infielder John McGraw was hit five times but home plate umpire Jack Sheridan refused to allow him to take first base. In the 9th inning, McGraw was hit again and sat down in the batter’s box in protest. American League president Ban Johnson suspended McGraw for five games.
    1910 - The temperature at Kansas City, MO, soared to 95 degrees to establish a record for the month of April. Four days earlier the afternoon high in Kansas City was 44 degrees, following a record cold morning low of 34 degrees.
    1913 - The zipper was invented about 1906 by Gideon Sundback of Hoboken, NJ, an inventor of Swedish ancestry, who obtained a patent on this day for his “separable fasteners.” His design consisted of two flexible tapes, each of which carried a row of metal teeth with tiny hooks, and a slider that locked the two rows of hooks together. This fastener was improved upon by later patents on March 20 and October 16, 1917, which were assigned to the Hookless Fastener Company of Meadville, PA, under the name “Talon.” The first manufactured garments to incorporate zippers were rubber boots made by the B.F. Goodrich Company in 1923. Prior to this, all clothes used buttons exclusively. The term “zipper” was coined by the English novelist Gilbert Frankau, who saw the device at a promotional luncheon and explained “Zip! It's Open! Zip! It's closed!” The first fashion designer to use zippers was Elsa Schiaparelli, who added them to garments in her 1930 collection.
    1918 - Ace of Aces, Captain Edward Vernon Rickenbacker’s, of Columbus, OH, first victory took place in the Baussant region, in the Toul sector, France. He was credited with 26 victories, including 22 airplanes and four balloons.
    1918 – Pro football coaching legend George Allen (d. 1990) was born in Nelson County, VA.   Inducted into the Pro Football Hall of Fame in 2002, Allen coached the LA Rams and Washington Redskins over 17 years, compiling a .712 winning percentage that included 1972 NFC Championship.  Edward Bennett Williams, the Redskins' president, once famously said, "George was given an unlimited budget and he exceeded it." In ending Allen's second stint as the Rams' head coach after only two preseason games in 1978, Carroll Rosenbloom said, "I made a serious error of judgment in believing George could work within our framework." and "He got unlimited authority and exceeded it.”
    1923 – The Yankees signed 20-year-old prospect Lou Gehrig to a contract paying him a salary of $2,000 and a bonus of $1,500. Yankees scout Paul Krichell had watched the Columbia University 1B blast a 450-foot home run against NYU one day earlier.
    1927 - Birthday of tenor saxophone Big Jay McNeely (d. 2018), born Cecil James McNeely, Watts, Ca.
   1929 – Singer April Stevens was born Carol LoTempio in Niagara Falls, NY.  She is best known for her 1963 recording of "Deep Purple" with her brother Antonino LoTempio (singing under the name Nino Tempo). It reached #1 on the Hot 100 on 16 November 1963, and No.17 in the British charts. The song won the 1963 Grammy Award for Best Rock and roll Recording.  It sold over one million copies and was awarded a gold disc.
    1931 - British skiffle musician Lonnie Donegan (d. 2002) birthday, born Anthony James Donegan in Scotland.  His biggest North American hit was 1961's "Does Your Chewing Gum Lose Its Flavor (On the Bedpost Over Night)."
    1933 - Birthday of guitarist Willie Nelson, Abbott, TX.  Musician, singer, songwriter, author, poet, actor, and activist.  The critical success of the album “Shotgun Willie” (1973), combined with the critical and commercial success of “Red Headed Stranger” (1975) and “Stardust” (1978), made Nelson one of the most recognized artists in country music. Nelson has acted in over 30 films, co-authored several books, and has been involved in activism for the use of biofuels and the legalization of marijuana.
    1934 - Guitarist Otis Rush (d. 2018) was born Philadelphia, MS.
    1941 - The Boston Bees agreed to rename the National League team the Braves, the name they used prior to 1935.
    1943 – Duane Allen of The Oak Ridge Boys was born in Lamar County, TX.
    1945 - The 522nd Field Artillery Battalion, part of the most decorated regiment in the history of the U.S. military (the 442nd regimental combat team), added another first to the history books. They liberated the remaining prisoners of the infamous Nazi death camp, Dachau. The 522nd was made up entirely of second-generation Japanese-Americans (Nisei).
    1946 – The International Military Tribunal for the Far East convenes in Tokyo and indicts former Prime Minister of Japan Hideki Tojo and 28 former Japanese leaders for war crimes on 55 separate counts encompassing the waging of aggressive war, murder and conventional war crimes committed against prisoners-of-war, civilian internees and the inhabitants of occupied territories. The defendants included former prime ministers, former foreign ministers and former military commanders. During the proceedings, the court ruled that 45 of the counts, including all the murder charges, were either redundant or not authorized under the IMTFE Charter.  Two defendants died during the proceedings and one was ruled unfit to stand trial. Chief of the Navy General Staff Admiral Toyoda was acquitted. All remaining defendants were found guilty of at least one count. Sentences ranged from seven years' imprisonment to execution.  The tribunal was adjourned on November 12, 1948.
    1947 - Tommy James was born Thomas Gregory Jackson in Dayton, OH.  Musician, singer, songwriter, and record producer, widely known as leader of the 1960s rock band Tommy James and The Shondells.  Hits included “Hanky, Panky,” “I Think We’re Alone Now," “Mirage,” “Draggin’ The Line,” "Crimson and Clover," “Sweet Cherry Wine,” and “Crystal Blue Persuasion.”  
    1947 – Golfer Johnny Miller was born in San Francisco.  He was one of the top players in the world during the mid-1970s. He was the first to shoot 63 in a major to win the 1973 US Open, and he ranked second in the world golf rankings in both 1974 and 1975 behind Jack Nicklaus. Miller won 25 PGA Tour events, including two majors, and was inducted into the World Golf Hall of Fame in 1998.  He was the lead golf analyst for NBC (1990-2019). He is also an active golf course architect. 
    1947 – Jim Ryun was born in Wichita, KS.  He won a silver medal in the 1500m at the 1968 Olympics and was the first high school athlete to run a mile in under four minutes. He is the last American to hold the world record in the mile run. Ryun later served in the House from 1996 to 2007, representing Kansas’ 2d district as a Republican. 
    1948 – Israel Independence Day celebrates the proclamation from British mandatory rule by Palestinian Jews and established the state of Israel.  The provisional government was established two weeks later.
    1951 - Marguerite Higgins won the Pulitzer Prize for International Reporting and Journalism. Her book, “War in Korea,” became a best-seller.  Among the many newspaper articles she wrote were the first report of the German death camps at the end of World War II, which won the Pulitzer Prize for Journalism in 1951. She was the first American to enter the Dachau death camp on 04-29-1945, in advance of military troops. From her dispatch filed that day: "Tattered, emaciated men, weeping, yelling and shouting ‘Long Live America' (in about 16 languages) swept toward the gate in a mob. Those who could not walk limped or crawled... at least a thousand prisoners were killed the night before... the barracks like those at Buchenwald (which she had also entered early) had the stench of death and sickness... the starving and dying lay virtually on top of each other in quarters where 1,200 men occupied a space intended for the crematorium itself were hooks on which the S.S. men hung their victims when they wished to flog them or to use any of the other torture instruments... Many of the living were so frail it seemed impossible they could still be holding on to life." More women were killed by the Germans in the concentration camps than men - and women were subjected to rape and other sexual tortures as well. So many of the Nazi doctors seemed fascinated by women's reproductive abilities and performed unspeakable horrors on pregnant women. She died in Washington, D.C. on January 3, 1966 of a disease which she apparently contracted while in Vietnam. On September 14, 2002, a stamp was issued to commemorate her life.
    1951 - Top Hits
“If” - Perry Como
“Mockingbird Hill” - Patti Page
“Would I Love You” - Patti Page
“The Rhumba Boogie” - Hank Snow
    1952 - Birthday of Dale Earnhardt (d. 2001), stock car racer, Kannapolis, NC. He was one of NASCAR's most popular personalities, winning the Winston Cup seven times. He was killed while driving in the Daytona 500 at Daytona Beach. 
    1953 - "Coke Time with Eddie Fisher" began its TV and radio run on NBC-TV and Mutual radio. Fisher, a popular performer, was seen and heard on more TV and radio stations in 1954 than any other entertainer.
    1954 - Ernest Borgnine made his network television debut in "Night Visitor" on "Ford Theatre" on NBC-TV. The versatile film ("Marty") star would later become a sitcom sensation in "McHale's Navy" with comedian Tim Conway on CBS and, later, as a helicopter owner in "Airwolf.",+Ernest
    1954 - Miles Davis Sextet records “Walkin'” (Prestige)
    1954 – Comedian Jerry Seinfeld was born in Brooklyn.  Actor, writer, producer, and director, he is known for playing a semi-fictionalized version of himself in the sitcom “Seinfeld,” which he created and wrote with Larry David. The show aired on NBC from 1989 until 1998, becoming one of the most acclaimed and popular sitcoms of all time. Comedy Central named him the "12th Greatest Stand-up Comedian of All Time."
    1957 – Sir Daniel Michael Blake Day-Lewis, three-time Academy Award winner, was born in London.  Day-Lewis won the statues for “Lincoln,” “There Will be Blood,” and “My Left Foot.” He is the only male actor to have three wins in the Best Actor category and one of only three male actors to win three Oscars.  In June 2014, Day-Lewis was knighted for services to drama.
    1958 - Ted Williams becomes the tenth Major Leaguer to get 1,000 extra-base hits.
    1958 - "The Witch Doctor" goes to No.1 on Billboard's pop charts. The singer's voice was recorded at various speeds, mainly very fast. Songwriter and singer Ross Bagdasarian (who recorded under the name David Seville) topped the charts again at the end of the year with "The Chipmunk Song," sung by his dubbed voice at very fast speed, and this time the singers were the Chipmunks.
    1959 - Top Hits
“Come Softly to Me” - The Fleetwoods
(“Now and Then There's”) ”A Fool Such as I” - Elvis Presley
“Guitar Boogie Shuffle” - The Virtues
“White Lightning” - George Jones
    1959 - UNIVAC, the electronic computer that was the size of a house, actually picked four out of six winners at Churchill Downs in Louisville, KY. The electronic brain set a record for right choices in horse races. Of course, the winners all paid 2-1 or even odds, so it didn't win much. But, most of us don't...
    1960 - Dick Clark told a House of Representatives investigating committee looking into the payola scandal that he, the host of "American Bandstand," never took payola for records featured on his daily TV show. Clark would, however, relinquish rights to music publishing that he owned. The value of those rights, Clark indicated 30 years later, amounted to about $80 million.  Clark’s early career was nearly derailed but he avoided trouble by also selling his stake in a record company and cooperating with authorities.  Prosecution for payola in the 1950s was in part a reaction of the traditional music establishment against newcomers.   Hit radio was a threat to the wages of song-pluggers. Radio hits also threatened old revenue streams; for example, by the middle of the 1940s, three-quarters of the records produced in the USA went into jukeboxes.   Still, in the 1950s, independent record companies or music publishers frequently used payola to promote rock and roll on American radio; it promoted cultural diversity and disc jockeys were less inclined to indulge their own personal and racial biases.  In 1960, payola was made illegal. Alan Freed, a disc jockey and early supporter of rock and roll (and also widely credited for actually coining the term), had his career and reputation greatly harmed by a payola scandal.  Freed was uncooperative and was fired as a result.  In 1962, Freed pleaded guilty to two charges of commercial bribery, for which he received a fine and a suspended sentence.
    1961 - “Spanning the globe ... to bring you the constant variety of sport, the constant variety of human competition, the thrill of victory and the agony of defeat. This is ABC's Wide World of Sports.” A Saturday afternoon sports program began its long run on ABC-TV. The show, featuring Jim McKay as host, along with Howard Cosell, Frank Gifford, Al Michaels, Jack Whitaker, Heywood Hale Broun and others, was not an immediate hit. Although Roone Arledge's vision of a worldwide window on televised sports got off to a slow start, "ABC's Wide World of Sports" became one of TV's most popular and enduring programs.
    1963 - Andrew Loog Oldham signed the Rolling Stones to a management contract. He had seen them perform the previous night at the Crawdaddy Club in Richmond, England.
    1967 - Top Hits
“Somethin' Stupid” - Nancy Sinatra & Frank Sinatra
“A Little Bit Me, A Little Bit You” - The Monkees
“Sweet Soul Music” - Arthur Conley
“Need You” - Sonny James
    1967 - Aretha Franklin's "Respect" is released.
    1967 - Cindy Birdsong makes her stage debut with The Supremes at The Hollywood Bowl, replacing the increasingly unreliable Florence Ballard.  Since 1963, she had been with Patty LaBelle and The Bluebells. Starting in mid and late 1966, Birdsong began to appear as a stand-in vocalist for Ballard when Ballard's bout with alcoholism caused her to miss important gigs. 
    1967 - Muhammad Ai was stripped of his world heavyweight boxing championship when he refused to be inducted into military service. Said Ali, “I have searched my conscience, and I find I cannot be true to my belief in my religion by accepting such a call.” He had claimed exemption as a minister of the Black Muslim religion. Convicted of violating the Selective Service Act but the Supreme Court reversed this decision in 1971.
    1968 - "Hair" made its way from Greenwich Village to Broadway. The show certainly opened eyes. It was the first time that actors appeared nude in a Broadway musical. "Hair" ran for 1,844 shows on and off Broadway. It was even more successful in its London run later. Big songs from the show: "Hair" (The Cowsills) and "Aquarius/Let the Sunshine In" (The 5th Dimension).
    1969 - Sir Duke, Duke Ellington, celebrated his 70th birthday. He was honored with the presentation of the Presidential Medal of Freedom, the U.S. government's highest civilian honor.
    1970 – Birthday of tennis champion Andre Agassi, Las Vegas, NV.  Former world #1 whose career spanned from the late 1980s to the early 2000s.  In singles, Agassi is an eight-time Grand Slam champion and a 1996 Olympic gold medalist, as well as being a runner-up in seven other Grand Slam tournaments.
    1971 - Bill Graham declared his intention to close down the East and West Coast versions of his "rock ballroom," The Fillmore.
    1972 - A Detroit, Michigan band called Gallery enters the Billboard Hot 100 with "Nice To Be With You," which will rise to #4 during its 13 week run. They will follow with two more Top 20 hits, "I Believe In Music" (#22) and "Big City Miss Ruth Ann" (#23) over the next eight months.
    1973 - More than 15,000 people attending a Rock concert by Elvin Bishop, Canned Heat, Buddy Miles and Fleetwood Mac are routed from a baseball stadium in Stockton, California, by police firing tear-gas canisters. More than 80 people, including 28 police officers, are hurt and fifty arrests are made.
    1973 - The Mississippi River reached a crest of 43.4 feet, breaking the previous record of 42 feet established in 1785.
    1974 - Phil Donahue's TV show was on the move. "Donahue" was moving to Chicago, IL, where it would remain until 1985. The show was originally based in Dayton, OH. Following more than a decade in the Windy City, the show again moved, this time to New York City. During its stay in Chicago, "Donahue" earned nine Emmy Awards.
    1974 – President Nixon announces the release of edited transcripts of White House tape recordings relating to the Watergate scandal. After a series of court battles, the Supreme Court unanimously ruled that the president was obligated to release the tapes to government investigators. The tapes revealed that Nixon had attempted to cover up activities that took place after the break-in, and to use federal officials to deflect the investigation.  Nixon resigned the presidency on August 9, 1974, preventing the House from impeaching him.
    1975 - Operation Frequent Wind, the largest helicopter evacuation on record, begins removing the last Americans from Saigon.
    1975 - Top Hits
(“Hey Won't You Play”) “Another Somebody Done Somebody Wrong Song” - B.J. Thomas
“He Don't Love You” (“Like I Love You”) - Tony Orlando & Dawn
“Supernatural Thing” - Ben E. King
“Blanket on the Ground” - Billie Jo Spears
    1976 - After performing a show in Memphis, Bruce Springsteen caught a cab to Elvis Presley's mansion, Graceland, and when he was turned away at the gates, being a Jersey guy, he scaled a wall in an attempt to meet the icon. Elvis isn't home, however, and Bruce was escorted off the property without incident.
    1979 - Van Halen's "Dance the Night Away" single is released
    1980 - Black Sabbath began their first tour with vocalist Ronnie James Dio, who had replaced Ozzy Osbourne.
    1981 - Steve Carlton, the Philadelphia Phillies pitcher, became the first left hander in the Majors to get 3,000 career strikeouts. He fanned Montreal Expos' Tim Wallach in the first inning of a game that saw the Phillies beat the Expos 6-2. Carlton was only the sixth Major Leaguer to strike out 3,000 batters. He finished with 4,136.
    1983 - Top Hits
“Come on Eileen” - Dexys Midnight Runners
“Beat It” - Michael Jackson
“Der Kommissar” - After the Fire
“American Made” - The Oak Ridge Boys
    1985 - “Challenger” was launched from Kennedy Space Center, Florida, piloted by the first African-American to enter outer space, Col. Frederick Gregory, who became a veteran of three space missions, logging in 455 hours. This flight had a crew of seven and a full animal menagerie of monkeys and other animals to learn about the effects of space. After 111 orbits of Earth, Challenger landed on May 6, 1985, at Edwards Air Force Base, Ca.
    1985 - George Steinbrenner, owner of the New York Yankees, fired manager Yogi Berra. Berra was canned after only 16 games into the young baseball season. In his place, Steinbrenner brought Billy Martin back ... for the fourth time.  Berra was named Yankee manager before the 1984 season. Berra agreed to stay in the job for 1985 after receiving assurances that he would not be terminated, but the impatient Steinbrenner reneged.  Moreover, instead of firing him personally, Steinbrenner dispatched Clyde King to deliver the news for him.  The incident caused a rift between Berra and Steinbrenner that was not mended for almost 15 years, when Yankees radio sportscaster Suzyn Waldman brought them together at the Yogi Berra Museum and Learning Center on the campus of Montclair State University in NJ.
    1986 - Roger Clemens of the Boston Red Sox set a Major League Baseball record by striking out 20 Seattle Mariner batters on the way to a 3-1 win. This record for the Red Sox hurler surpassed the 19 strikeouts for a nine-inning game held by Nolan Ryan when he pitched for the California Angels. Tom Seaver of the New York Mets and Steve Carlton of the St. Louis Cardinals also held a piece of the previous 19-KO record.
    1987 - A storm off the southeast coast of Massachusetts blanketed southern New England with heavy snow. Totals of three inches at Boston, 11 inches at Milton, MA, and 17 inches at Worcester, MA, were records for so late in the season. Princeton, MA was buried under 25 inches of snow.
    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
    1988 - The 1988 Baltimore Orioles finally won a game after losing the first 21 games of the season. They beat the Chicago White Sox, 9-0, on a combined four-hitter by pitchers Mark Williamson and Dave Schmidt. The Orioles' streak, lasting from April 4 to 28, set an American League record but fell two losses short of the National League mark.
    1988 - Thunderstorms produced large hail and damaging winds throughout central Texas with baseball size hail reported at Nixon, Texas and wind gusts to 70 mph recorded at Cotulla, Texas. In contrast, a late winter storm dropped up to a foot of snow over northern West Virginia and western Maryland.
    1989 - Porter Wagoner joined Dolly Parton on stage for the first time since Parton split with her mentor in 1976. The duet sold out four shows at Parton's Dollywood theme park in Pigeon Forge, Tennessee. 
    1990 - A storm system crossing northern New Mexico blanketed parts of the Rocky Mountain Region and the Northern High Plains with heavy snow and produced blizzard conditions in central Montana. Much of southern Colorado was buried under one to three feet of snow. Pueblo tied an April record with 16.8 inches of snow in 24 hours. Strong canyon winds in New Mexico, enhanced by local showers, gusted to 65 mph at Albuquerque. Afternoon temperatures across the Great Plains Region ranged from the 20s in North Dakota to 107 degrees at Laredo, TX
    1990 - The TV movie “Summer Dreams: The Story of the Beach Boys” airs on ABC. 
    1991 - Top Hits
“Baby Baby” - Amy Grant
“Joyride” - Roxette
“I Like the Way” (“The Kissing Game”) - Hi-Five
“Down Home” – Alabama
    1992 - A jury in Simi Valley, CA, failed to convict four Los Angeles police officers accused in the videotaped beating of Rodney King, providing the spark that set off rioting, looting and burning at South Central Los Angeles, CA, and other areas across the country. The anger unleashed during and after the violence was attributed to widespread racism, lack of job opportunities and the resulting hopelessness of inner-city poverty.
    1992 - State Farm Insurance was ordered to pay $157 million to hundreds of California women who were not offered or given jobs as State Farm agents because of their gender. It was the largest sex-discrimination settlement in US history to that time. The settlement was shared by more than 814 women. The case that began in June, 1979 when Muriel Kraszewski sued because she was turned down repeatedly for agent jobs at State Farm offices in southern California because she was a woman. As a result of the suit, the ratio of women agents with State Farm has increased from less than 1% in 1979 to more than 50% today. Women make up more than 50% of the population.
    1995 - Severe thunderstorms moved across Tarrant County in Texas. Hail up to 3.5 inches in diameter did an enormous amount of damage. 100 aircraft were damaged at DFW airport. Damages in the county totaled $220 million. This was the second major hailstorm to hit the area in a month.
    1996 – Mets lefty John Franco becomes the first left-hander in Major League history to record 300 saves, exactly 12 years after he gained his first save with the Cincinnati Reds.  He ended his career with 1,119 games pitched - the second highest total ever, and 424 saves, placing him third on the all-time list, and first among left-handers.
    1997 - The US House of Representatives voted to bestow Congress's highest civilian award, the Congressional Gold Medal, on Frank Sinatra. In 1985, President Ronald Reagan had presented the singer with the Medal of Freedom, the highest civilian award in the US.
    1997 - Craig MacTavish, the last player to go without a helmet, retired from the National Hockey League. The NHL mandated helmets at the start of the 1979-80 season but allowed players then active to refrain by signing a waiver absolving the league of responsibility in case of head injury. MacTavish was the last remaining player of those who signed the waiver. He retired from the St. Louis Blues after a 16-year career during which he scored 213 goals. Despite his personal choice, he admitted, “Certainly, it's very dangerous out there without a helmet.”
    1998 - Top Hits
“Too Close” - Next
“You’re Still The One” - Shania Twain
“Let’s Ride” - Montell Jordan Feat. Master P
“All My Life” - K-Ci
    2004 – Dick Cheney and George W. Bush testified before the 9/11 Commission in a closed, unrecorded hearing in the Oval Office. They were not sworn.
    2007 - Nancy Sinatra made a rare TV appearance in an episode of The Sopranos where she sang "Bossman" to a small gathering of the main characters
    2013 - Prosecutors for Boston Marathon bomber and Islamic terrorist Dzhokar Tsarnaev discuss a plea deal to avoid the death penalty in exchange for life in prison without parole.  The bombings killed three people and injured approximately 280 others.  The trial began on January 5, 2015; Tsarnaev pleaded not guilty to all thirty charges against him.  On April 8, 2015, Tsarnaev was found guilty on all thirty counts of the indictment. The charges of usage of a weapon of mass destruction resulting in death, in addition to aiding and abetting, made Tsarnaev eligible for the death penalty.  On May 15, 2015, the jury recommended that Tsarnaev be sentenced to death by lethal injection on six of 17 capital counts.  He awaits appeal in the US Penitentiary, Terre Haute, IN, where male death row inmates are normally held. Tsarnaev was transferred to the US Penitentiary in Colorado because of "unique security management requirements." According to “The Guardian,” in June 2016, Al-Qaeda leader Ayman al-Zawahiri issued a threat to the United States of the "gravest consequences" if Tsarnaev should be harmed.
       2015 – The Orioles won a game in eerie silence, defeating the White Sox, 8-2 at Camden Yards. No fans were present due to the persistent rioting in Baltimore that demanded security personnel there instead of at the ballpark.



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  of $55.2 Billion in Fourth Quarter 2019
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 by Small Business Lenders and Brokers Re-Introduced in New Jersey
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     Phil Dushey, President, Global Financial Services
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   Menkin has an Epiphany
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