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Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.

Executive Director of Sales
Laguna Hills, CA

Base Salary, performance bonuses, sales overrides, full benefits
Require excellent track record of integrity based performance with strong leadership skills for business development. 
Manage existing sales force. Optimize diverse array of financial products and solutions. Execute sales enablement strategies. Trusted advisor on executive team.

  “STRADA Capital has been raising the standard for excellence in financial solutions for over 10 years.  Our success stems from our
unwavering commitment to our customer’s success”

Brad Kissler,, 949-799-8850, ext.222

Monday, August 15, 2011

Today's Equipment Leasing Headlines

Chase Industries to Close due to Embezzlement
 Classified Ads---Sales Manager
  Chris Walker Lovefest This Saturday
 LEAF Equipment Leasing Income & Serious Problems
  Career Crossroad—“Telephone Interviews”
   Classified Ads---Help Wanted
Leasing 102 by Mr. Terry Winders, CLP
 Lease Accounting for the Lessee
  "Nonfarm-Nonresidential" Loans Take Down Kansas Bank
    Top Stories August 8---August 12
 Grand Rapids, Michigan Adopt-a-Dog
  ICBA Launches ICBA Social Media Monitor
News Briefs---
US Capital Corporation Banks on Social Media 
  India’s Largest Bank Net Drops 46% 
Top bankers to see sharp drop in bonuses 
Low Rates May Do Little to Entice Nervous Consumers 
Airplane "Repo Man" Tells his story 
Lobster Salad, but a Key Ingredient Was Missing

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

  Please Support Women for Warrior
   You May have Missed---
    Sports Briefs---
     California Nuts Brief---
      "Gimme that Wine"
         This Day in American History
           Daily Puzzle
             Weather, USA or specific area
              Traffic Live----

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


Chase Industries to Close due to Embezzlement

Leasing News has been holding off on this story, which originally came to our attention from vendors who reported not being paid by Chase Industries, Inc., Grand Rapids, Michigan. The company has been in business since 1993 with a sterling reputation.

The owner asked us to hold off as he has been trying to find jobs for his employees that he has to let go, including his sales staff. He has delayed filing a police report until now, and thus the story is now made public.

Accordingly, his right hand person for 11 years did not pay back his line of credit, which he utilizes for warehousing leases, where he often pays 50% in advance before the actual acceptance and funding. The line is also secured by his house, he added

Chase’s vendors, banks, sales personnel, all employees have been effected, he told Leasing News, authorizing this statement for today's issue:

"Chase Industries has announced that it is closing. It has discovered irregularities in its accounting. It appears those irregularities will cause them to close the company. An 11 year accounting employee has been terminated. A forensic audit team is investigating."

(July/August Deals List Now Available)



Classified Ads---Sales Manager

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

Bayville, NJ
Dedicated individual seeking a account management position, 3 years leasing experience and 15+ years sales experience. Resume furnished upon request,
email Frank at .

Fort Myers, Florida
Very experienced and strong skills with both Captive and Specialty Sales Management. Over 25 years , will relocate and travel---successful and team player.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:



Chris Walker Lovefest This Saturday

For updates on Chris’ fight against pancreatic cancer, or to leave him a message, please see

If you are going to come to Cedar Rapids, Iowa for the “Chris Walker Lovefest” Saturday evening, August 20, 2011, 6:30pm, special rates have been set up at:

Hampton Inn
1130 Park Place NE
Cedar Rapids, IA
Phone: 319.832.1130 – mention the Walker Fundraiser

Reduced Rates:
Standard room with one king or two queens – $79
King studio – $89

For those of you who cannot attend, please visit or Facebook page “Chris Walker Love Fest 2011” for additional information.

Questions: Contact Kathleen Bednar at 319.393.7809 or


Send Leasing News to a Colleague. We are “Free.”

LEAF Equipment Leasing Income and Serious Problems

Leasing News wrote about an investor not being happy with LEAF Equipment Leasing Income Fund III, where he was also being asked to reinvest more of the distributable cash which they are now prohibited from doing until they pay the unpaid cumulative returns.

The Resource American, Inc. June 30, 2011 financial statement "On Page 12, the “CASH FLOWS FROM FINANCING ACTIVITIES” shows a large drop in principal payments, but as important, Resource America used $15.2 million proceeds from issuance of LEAF preferred stock that enabled them to pick up from the cash of $11.2 million at the beginning of the year.

The article also showed, "In following up a complaint from an investor in one of the funds, who listened to a LEAF salesman, he complained he should have known better, a search on debt equity from a copy of a Regulation D offering for $25 million. It cost them 11.7% up-front. And that doesn't include the management fees. "

The investor, who wrote the original question, after reading the article, told Leasing News: “LEAF was sold to me as a safe fixed income investment for my retirement. I read the prospectus after I had already given my "trusted" financial advisor my money. I was told there was nothing to be concerned about. It sucks having one fourth of my retirement savings in limbo. I have now learned the difference between a certified financial planner with a fiduciary duty to their clients and others who are just interested in the largest commission."

In the 10-Q filing, LEAF Equipment Leasing Income Fund III, L.P., LEAF notes that the fund incurred net losses of $17.7 million, $28.8 million and $26.1 million for the years ended December 31, 2008, 2009 and 2010, respectively, and a net loss of $2.2 million for the three months ended March 31, 2011.

LEAF Financial Corporation is admittedly saying they cannot pay the cumulative interest return to the investors. On top of that, the LP agreement mandates that investors will be paid their cumulative interest return “before” any monies can be re-invested into new equipment leases. Now, LEAF is asking the investors to let LEAF invest all monies into new leases and not pay any cumulative interest. WOW, what a mess for the investors. First they get their investment interest rate cut from 8.5% to 2%, now they're not going to get any interest return at all. In addition, accordingly to this LEAF III statement, LEAF incurred total net losses of -$74.8M in years 2008, 2009, 2010 and 2011 (3mos.). They say they raised $120M from investors, does that mean they loss -62% of their investor principal too?

One big factor not being disclosed to the LP investors is that LEAF created a different funding model and different sales channel. All new deals now go through LEAF Commercial into the Guggenheim funding pools. LEAF is trying to grow LEAF Commercial so why would they direct good deals to the previous LP fund platform where they don’t make any profit.

It appears the LP fund investors would be better served to let the portfolios run off, take as much cumulative interest income (if any), and get any remaining principal returned as soon as possible. They stand to lose more capital by agreeing to the amendment. It is not a question anymore about maximizing investor returns; it is a question about cutting losses as much as possible.

Edgar Online via COMTEX re: 10-Q: LEAF Equipment Leasing Income Fund III, LP

LEAF Investor asks what he should do


Career Crossroad—“Telephone Interviews”

Can you advise me regarding phone interviews---How do I handle?

Phone interviews are actually more difficult than face-to-face interviews … as you cannot “read” the interviewer’s non-verbal cues. Company’s typically start the interviewing process via phone interviews, so it is imperative that you are well prepared and that you “ACE” the interview to move on to the next step.

The interviewer is generally determining:

    • How well you think on your feet
    • If you have the general experience to fill said position
    • Your knowledge of the industry
    • If your personality will fit into their corporate culture

    • To prepare for this:

    • Make sure you have your resume and other pertinent documentation (e.g. job description) in front of you to discuss
    • Take the time to do your homework regarding the company, its history, etc…
    • Develop a list of questions regarding the company as a whole; typically HR handles the first phone interview and sometimes they do not know the specifics regarding said position (e.g. territory, quotas, etc…
    • NEVER discuss compensation on a phone or a first face-to-face interview UNLESS you are specifically asked; if asked what you are looking for, best to leave your answer open ended
    • If interested in what you hear, make sure you let the interviewer know this

For more specific tips, you can contact us!

Please let Emily know in submitting your questions or inquiry, if you would not like to be named as asking the question. She invites all questions or inquiries be addressed to:

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567


Leasing Industry Help Wanted

Executive Director of Sales
Laguna Hills, CA

Base Salary, performance bonuses, sales overrides, full benefits
Require excellent track record of integrity based performance with strong leadership skills for business development. 
Manage existing sales force. Optimize diverse array of financial products and solutions. Execute sales enablement strategies. Trusted advisor on executive team.

  “STRADA Capital has been raising the standard for excellence in financial solutions for over 10 years.  Our success stems from our
unwavering commitment to our customer’s success”

Brad Kissler,, 949-799-8850, ext.222

Looking for seasoned sales professionals with 5+ years experience closing both Equipment Leasing Transactions and Merchant Cash Advance Transactions
---New leads daily generated through our marketing efforts, and call center. Base salary plus commission, includes daily abundance of marketing leads.
West Los Angeles, CA
Emma 310.447.3460 ext. 319

For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.



Leasing 102
by Mr. Terry Winders, CLP

Lease Accounting for the Lessee

We have all heard that the International Accounting Standards Board and the Financial Accounting Standards Board have published a new exposure draft which for the most part is aimed at changing the approach for lessors. I will leave it up to the accountants to explain how the suggested changes will affect us, but right now let’s look at the previous drafts which remain unchanged for the lessee. I would like to explain how the accounting will work for the lessee. More importantly for we in the leasing business, why the lease sales staff needs a good understanding of these rules.

To begin with: let’s look at a standard $100,000 lease transaction over 60 months with a $1 purchase option (PO). I will use a lessor rate of 10% and a lessee incremental bowering rate (IBR) of 8%. The lease payments with one in advance are $2,107. Therefore the lessee must discount the $2,107 at their IBR of 8% to yield a present value of $104,614. When the $104,614 is subtracted from the total rent of (60 x $2,107) $126,420, the balance of $21,806 is considered interest and is charged under the interest method over the life of the lease just like loan interest. The $104,614 is amortized over the life of the lease at $1,744 a month.

Now let’s examine a competitor with the same 10% yield requirement---who offers a 60 month lease, one payment in advance, however offers a bargain 10% purchase option and assumes a 10% residual. This fails the tax test and is now called a “for use” lease. The payments are $1,979 and have a net present value of $98,256. Some accountants may want to include the 10% purchase option in the net present value number if the actual future value in greater than 15% and they expect to exercise the PO. The net present value with the 10% PO is $104,968. Clearly if the purchase option was a “put,” the net present value would be the same $104,968. The actual interest would be changed based on the difference between the discounted value and the total payments.

The point here is that any accountant that gets involved in your proposal may be looking at the expense for book purposes instead of the cash payments you request for payments on the lease. Any change in the structure will change the net present value and you need to know its effect. Rental payments in advance make a higher net present value such as the example above on a $1 PO with two payments in advance has a net present value of $104,445. With three payments in advance the net present value is $104,281.

Some accountants may include the closing costs and some may not but this basic structure with the $1 purchase option and a $1,000 (1%) closing costs would have a net present value of $103,567 without the input of the closing costs. With the closing cost it would go back up of course.

These different net present values do not look very different to the casual observer and if the transaction is small ticket, it may not even come into consideration, but if it does then you need to get there IBR and look for a structure that gives you the lowest net present value to win the deal.

The interest portion is not that important because the lessee’s IBR will be the same for each evaluation, therefore, the interest rate that is determined will always reflect the IBR for all competitors.

The new accounting requirements are going to put all leases on the balance sheet with this net present value concept applied to all leases so you need to evaluate your structures and understand the effect of the different components so you can react with knowledge. I am sure that because of the leases going on the balance sheet in this fashion, we are going to see some creative structures in the future.

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

He invites your questions and queries.

Previous #102 Columns:

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)


Bank Beat--"Nonfarm-Nonresidential" Loans Take Down Kansas Bank

The six branches of First National Bank of Olathe, Olathe, Kansas were closed with Enterprise Bank & Trust, Clayton, Missouri, to assume all of the deposits. The bank was founded Jun 7, 1887 and went from a high of 179 full time employees in 2007 to 111 full-time employees March, 31, 2011, with six offices in Olathe and one in Scottsdale Arizona, according to March 31, 2011 filings.

March 31, 2011 Tier 1 risk-based capital ratio: 2.77%.
June 30, 2011 Tier 1 risk-based capital ratio 1.8%

First National Bank is the third failed bank acquisition by Enterprise Bank. In December 2009, Enterprise Bank & Trust acquired Valley Capital Bank of Mesa, Arizona, and in January 2011, acquired Legacy Bank of Scottsdale, Arizona. The three failed banks acquired by Enterprise Bank & Trust had total assets of $728 million. In addition, Enterprise Bank also acquired a pool of failed bank assets from the FDIC in July 2010.

According to Wikipedia, Olathe (meaning beautiful in Indian language) is the fourth largest city in the Kansas City Metropolitan Area. In the 1800's, "Olathe served as a stop on the Oregon Trail, the California Trail, and the Santa Fe Trail...After the construction of the transcontinental railroad, the trails to the west lost importance, and Olathe faded into obscurity and remained a small, sleepy prairie town.

"In the 1950s, the construction of the Interstate Highway system and, more directly, I-35, linked Olathe directly to nearby Kansas City. The result was tremendous residential growth as Olathe became a part of the Kansas City Metro Area. In the 1980s, Olathe experienced tremendous commercial growth, which also drew more residents. It is estimated that Olathe's population surpassed 100,000 in 2001...",_Kansas

It is obvious from the numbers the demise of the bank is the real estate bubble hit the bank hard, particularly what are known as nonfarm nonresidential loans, as well as construction and land loans.

Here is a definition to better understand what happened to First National Bank of Olathe:

“Loans secured by other nonfarm nonresidential properties” are those nonfarm nonresidential property loans where the primary source of repayment is derived from rental income associated with the property (i.e., loans for which 50 percent or more of the source of repayment comes from third party, nonaffiliated, rental income) or the proceeds of the sale, refinancing, or permanent financing of the property. Include loans secured by hotels, motels, dormitories, nursing homes, assisted-living facilities, mini-storage warehouse facilities, and similar properties in this item as loans secured by other nonfarm nonresidential properties."

Charge Offs
2006 $77,000 ($21,000 L&C, $46,000 loans to individuals)
2007 $1.5 ($1.5 Land and Construction loans)
2008 $3.2 ($3.1 Land and Construction loans, $116,000 commercial and industrial loans)
2009 $38.9 ($24.3 L&C, $10.7 nonfarm, nonresidential, $4.2 commercial and industrial)
2010 $29.2 ($20.2 L&C, $4.9 nonfarm, $2.1 1-4 family, $1.9 commercial/industrial)
3/31 $6.9 ($4.7 nonfarm, $1.6 L&C, $223,000 1-4 family)
6/30 $8.9 ($5.1 nonfarm nonresidential, $2.1 L&C, $1.2 1-4 family residential loans, $395,000 commercial)

You can see how the charge offs and noncurrent loans closed the once successful bank:

(in millions, unless otherwise)

Net Equity




Non-Current Loans


As of June 30, 2011, First National Bank of Olathe had approximately $538.1 million in total assets and $524.3 million in total deposits. Enterprise Bank & Trust will pay the FDIC a premium of 1.5 percent to assume all of the deposits of First National Bank of Olathe. In addition to assuming all of the deposits of the failed bank, Enterprise Bank & Trust agreed to purchase essentially all of the assets.

The FDIC and Enterprise Bank & Trust entered into a loss-share transaction on $419.6 million of First National Bank of Olathe's assets. Enterprise Bank & Trust will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $116.6 million.

Tracking Bank Failures Map:

List of Bank Failures:

Bank Beat:

Comprehensive personal property tax outsourcing services
We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do.

Click here to learn what our clients say about our service
Gary DiLillo, President 216-658-5618 or



Top Stories August 8---August 12

Here are the top ten stories opened by readers:

(1) Dwight Galloway's RLC Funding Up and Running
---but California

(2) Leasing Gypsies
by Christopher Menkin

(3) Bank of the West IEF/Pacifica Capital join
Companies who notify lessee in advance of lease expiration

(4) Working with a Smaller Bank Question
by Christopher Menkin

(5) Why Chris Walker Lovefest?

(6) Benchmark Financial Group Up-Date

(7) Apple Capital Group joins “Broker/Lessor” List

(8) Leasing 102 by Mr. Terry Winders, CLP
Electronic Funds Transfer
Authorization Agreement for Pre-Arranged Payments (Debits)

(9) Depping Secedes from the Government Banking Regulators
by Kit Menkin

(10) Women for Wounded Warriors


Extra's, not counted for technical reasons:

President and CFO of HL Leasing Found Liable Ponzi scheme

Depping to Sell Bank, Get Back into Leasing without bank regulation



Grand Rapids, Michigan-- Adopt-a-Dog

Baby Boxer/Beagle Mix
Grand Rapids, MI
• Up-to-date with routine shots
• Primary colors: Yellow, Tan, Blond or Fawn, White or Cream
• Coat length: Short

These super sweet puppies came to us at 4 days old along with their Momma who was an Australian Cattle Dog/Beagle Mix. Their Daddy was the neighbors Boxer mix. These puppies are extremely smart at are almost totally crate trained. They love playing outside and enjoy their toys. We expect them to be a medium size and anticipate them to mature around 30 pounds making them an ideal size for a playmate for some lucky boys and girls. They have been wormed, vaccinated and spayed or neutered. Their adoption fee is $200.

Please remember this is our home, no calls before 9:00 or after 9:00 pm and no Sunday calls. We do need a completed and approved application prior to setting up any appointments. For an application and more information please email us at Applications...

Grand Rapids, MI

Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet




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

ICBA Launches ICBA Social Media Monitor

First and Only Social Media Tracker for Community Banks

Washington, D.C. (––The Independent Community Bankers of America (ICBA) announces the launch of its premier social media–monitoring solution, which is the first and only solution created exclusively for community banks. The ICBA Social Media Monitor, which is being offered at no cost to ICBA members, will allow community banks to stay connected and engage with their customers on a wide range of social media platforms.

“Social media is affecting the way we all do business and communicate; community banks, as relationship-driven businesses, are no different,” said Chris Lorence, ICBA executive vice president/chief marketing officer. “Community bankers are innovative and want to interact with their customers one-on-one, in ways that are convenient and comfortable for them."

As part of the social media dialogue, the ICBA Social Media Monitor allows community banks to see what their customers are saying about their bank, its brand and even the products and services it offers. The service provides direct insight as it searches millions of tweets, Facebook posts, blogs and hundreds of other social networks for mentions of their community bank’s brand. Additionally, the monitor allows ICBA members to receive a daily email alert that aggregates the number of mentions about their community bank.

“ICBA understands the importance of reputational risk and the responsibility community banks have to both protect and promote their good name—in both the real and virtual worlds,” Lorence said. “ICBA’s goal in creating this tool for our members is to help them get their feet wet in this ever-evolving communications space so they can take the first step of listening to the social media conversation to learn new ways to interact with their existing customers and attract new ones. Social media transcends all age groups and is developing into a value tool for gaining insights and trends.”

For more information about the ICBA Social Media Monitor and to register, visit For more information about community banks, visit

About ICBA

The Independent Community Bankers of America, the nation’s voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit

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

John Kenny Receivables Management

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

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

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)


News Briefs----

US Capital Corporation Banks on Social Media

India’s Largest Bank Net Drops 46%

Top bankers to see sharp drop in bonuse,0,2326462.story

Low Rates May Do Little to Entice Nervous Consumers

Airplane “Repo Man” Tells his story

Lobster Salad, but a Key Ingredient Was Missing



You May Have Missed---

Please Support Women for Warrior



Sports Briefs----

49ers will work out Daunte Culpepper

The Huddle




California Nuts Briefs---

Computer hackers expose BART riders personal information

California departments fought Jerry Brown's bid to c


“Gimme that Wine”

Off-Premise Wine Sales Increase 4.5 Percent through July

Playing with the Grape and Crush reports

Lance Armstrong and Friends Raise $1.7 Million with Wine and Art

NY Governor Signs Wine Industry Legislation


Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events 

Winery Atlas\

Leasing News Wine & Spirits Page


Please send to a colleague---Leasing News is Free

This Day in American History

      1588 – This event is mentioned as history may have been quite different for the founding of the United States. The Spanish Armada, a fleet of 130 huge ships, met defeat at the hands of English sailors and their smaller, more maneuverable vessels. Then a series of wicked Atlantic storms off the coast of Southern England took their toll. Only half of the 130 Spanish ships managed to limp ... at best ... home. The 60 or so English ships, plus the weather, saved England from the Spanish invaders.
    1787 - Tornadoes were reported in Connecticut, Rhode Island, Massachusetts, and New Hampshire. Wethersfield CT was hard hit by the tornado outbreak.
    1812---William Wells migrated with his family to Kentucky when he was nine years old. Five years later he was captured by Miami Indians and adopted into the family of the Wea village chief Gaviahatte. The young boy quickly adapted to Indian ways. He became a distinguished warrior and married the daughter of a prominent Miami war chief. For several years, Wells fought with the Miami against American soldiers attempting to push them off their land. In 1792, however, the army captured his wife and adopted mother. In exchange for their freedom, Wells agreed to join the American army as an interpreter. A reunion with a long lost brother helped reinforce the allegiance of Wells to the Americans, though his loyalties remained conflicted for the rest of his life. For several years, Wells was an invaluable scout and interpreter for the U.S. Army, helping the Americans defeat the hostile factions of the Miami and other tribes. In 1797, he was appointed Indian agent for the Miami, Delaware, Potawatomi, and other tribes of the Old Northwest (the modern-day Midwest). Yet, increasing pressure for the Indians to give up their lands to white settlers led to renewed conflicts, and Wells was often caught between the two groups. The outbreak of the War of 1812 with Great Britain heightened an already tense situation as some Indians saw the war as chance to join forces with the British to push out the Americans. Concerned about the safety of the Americans at Fort Dearborn (in Chicago), where his niece was married to the fort commander, Wells quickly raised a rescue party of 30 Miami Indians who were loyal to him and the United States and headed north. When he arrived on August 13, he found the fort surrounded by hostile Indians. Wells argued for staying at the fort and making a stand until a larger force of American soldiers could arrive. But the commander insisted on evacuation. On this day in 1812, Wells led a small company of men, women, and children out of the fort. They had not gone far before hundreds of Potawatomi Indians ambushed the party, killing more than 50 and taking the remainder captive. Wells, who was dressed and painted as a Miami warrior, fought heroically but was eventually shot through the lungs. When he fell from his horse, witnesses claimed the Potawatomi swarmed over his body, cut out his heart, and divided it among them.
    1814-Esther Hobart McQuigg Morris was born at Tioga County, NY, but eventually moved to Wyoming Territory, where she worked in the women’s rights movement and had a key role in getting a women’s suffrage bill passed. Morris became justice of the peace of South Pass City, WY, in 1870, one of the first times a woman held public office in the US. She represented Wyoming at the national suffrage convention in 18795. She died April 2, 1902, at Cheyenne, WY.
    1824 - Freed American slaves formed the country of Liberia.
    1844- Brigham Young chosen Mormon Church head following Joseph Smith death.
    1845 - U.S. Naval Academy established at Annapolis, MD on former site of Fort Severn.
    1850-Fifty firemen from the Protection Engine Co. went to Sacramento to put down squatter rioting on Capt. Sutters' property, under the direction Mayor Geary and Capt. McCormick of the California Guards
    1866-Birthday of Mathew Henson, famous African-American explorer, born at Charles County, MD. He met Robert E. Peary while working in a Washington, DC, store in 1888 and was hired to be Peary’s valet. He accompanied Peary on his seven subsequent Arctic expeditions. During the successful 1908—09 expedition to the North Pole, Henson and two of the four Eskimo guides reached their destination Apr 6, 1909. Peary arrived minutes later and verified the location. Henson’s account of the expedition. A Negro Explorer at the North Pole, was published in 1912. In addition to the Congressional medal awarded all members of the North Pole expedition, Henson received the Gold Medal of the Geographical Society of Chicago and, at 81, was made an honorary member of the Explorers Club at New York, NY. Died Mar 9,1955, at New York, NY.
    1866-The first queen to visit the United Sates was Queen Emma, widow of King Kamehameha IV of the Sandwich Islands ( later to be re-named Hawaii), who arrived in New York City from England on the Cuuard liner Java. She was received on August 14,1866 by President Andrew Johnson and introduced to his family. American business had already started to invest in the island, bringing coffee, potatoes, hybrid sugarcane, horses and cattle.
    1876 - Thomas Alva Edison of Menlo Park, NJ, obtained a patent for a “method of preparing autographic stencils for printing”. He went on to improve the “mimeograph,” who until the advent of the photocopier, was the most widespread method of paper communication and duplication.
    1876 - US law removed Indians from Black Hills after gold find. Sioux leaders Crazy Horse and Sitting Bull led their warriors to protect their lands from invasion by prospectors following the discovery of gold. This led to the Great Sioux Campaign staged from Fort Laramie. Gold was discovered in Deadwood in the Dakota Territory by Quebec brothers Fred and Moses Manuel. The mine was incorporated in California on Nov 5, 1877, as the Homestake Mining Company.
    1878 - The temperature at Denver, CO, soars to an all-time record high of 105 degrees.
    1885 - Birthday of Edna Ferber - U.S. author and Pulitzer Prize winning novelist for So Big (1924). Her books Show Boat, Cimarron, Saratoga Trunk, Giant, and Ice Palace were all made into popular Hollywood movies.
    1899-Birthday Of Russell Markert, American choreographer Russell Markert, born at Jersey City, NJ. He founded and directed the Radio City Music Hall Rocketts from 1932 to 1971. He died December 1, 1990, at Waterbury, CT.     1899 - A.T. Marshall of Brockton, MA patented the refrigerator. It was not practical in cost for many households and “ice” refrigerators were common until perhaps World War II.
    1896-Birthday of Marjorie Kinnan Rawlings, American short story writer and novelist ( The Yearling), born at Washington, DC. Rawlings died at St. Augustine, FL, December 14, 1953.
    1900-Birthday of bandleader Lucky Millinder, Anniston, AL.
    1911 - Membership in the U.S. House of Representatives was established at 435. Every 211,877 residents of the U.S. were represented by one member of Congress.
1918 –Birthday alto Sax player Benny Carter Birthday (Died July 12,2003)
    1912---Birthday of Julia Child - U.S. cooking expert, author, and television personality. She won a Peabody Award in 1965 and an Emmy in 1966 for cooking shows that centered on traditional French cuisine. But the shows became a general viewing audience favorite as she conducted them in her inimitable aplomb and down-to-earth methods. She went on to write other books demystifying cooking in general and French gourmet cooking in particular. Bon Appetite!
    1914 - The American-built waterway across the Isthmus of Panama, connecting the Atlantic and Pacific oceans, is inaugurated with the passage of the U.S. vessel Ancon, a cargo and passenger ship. The rush of settlers to California and Oregon in the mid 19th century was the initial impetus of the U.S. desire to build an artificial waterway across Central America. In 1855, the United States completed a railroad across the Isthmus of Panama (then part of Colombia), prompting various parties to propose canal-building plans.
    1918 - Two days after the Battle of Marne ended, the British Fourth Army mounted an offensive at Amiens with the objective of freeing the Amliens-Paris railways from bombardment by the German Second and Eighteenth Armies. More than 16,000 German prisoners were taken in two hours of fighting the first day. The German forces were forced back to the Hindenburg’s line by September 3. This battle is considered a turning point by many historians because of its impact on the psyche o f Germany. August 8 was described by General Erich Ludendorff as a “Black Day” for Germany.
    1918 - Russia severed diplomatic ties with US.
    1923-Birthday of singer Jimmy Witherspoon, Gurdon,AR.
    1926-Birthday of trombonist Urbie Green, Mobile, AL.
    1922-Louis Armstrong, 22 years old, leaves for the Windy City. His autobiography is fascinating to read about his version of the beginnings of jazz. He perhaps is not only the best known jazz musicians, but considered even today to have been quite ahead of his time. On old records, it is easy to pick him out playing the trumpet. He had tone, melody and rhythm that still wants you to sing, dance, or tap your foot.
    1923 - Benny Goodman was 14 years old as he began his professional career as a clarinet player. He took a job in a band on a Chicago-based excursion boat on Lake Michigan. 
    1932-Birthday of singer/songwriter Mel Tillis, Pahokee,FL. Tillis was the Country Music Association Entertainer of the Year . Equally talented as a singer and as a songwriter, Tillis began his hit-making career in 1958 with "The Violet and the Rose." His top-ten singles have included "Who's Julie," "The Arms of a Fool" and "Memory Maker." Tillis has a speech impediment, but has made his stuttering a part of his act.
    1933-Louisiana Governor O.K.Allen pardon’s Huddie William Ledbetter, better known as the folksinger “Leadbelly.,” He got the name while in prison in Texas for being very strong. He was a very big man with an explosive temper, and was in for murder. He was pardoned by Texas Governor Pat Neff from a thirty year sentence, something that was unheard of in Texas and from the very conservative Neff, but it is said, he sang a song of why he should be released that so affect the warden, and then Neff, that they released him. Leadbelly was one of my father’s favorite folksingers, that he played all the time, and my first memories of my father are listening to this music in the forties. I remember sitting on his knee, perhaps the earliest recollection of my father, who I miss more and more as each year goes by.
    1933-The first savings and loan association established by the federal government was the first Federal Savings and Loan Association of Miami, Florida. The creation of savings and loan institutions had been authorized by the Home Owners Loan Act of June 13, 1933, to provide a convenient place for the investment of small and large sums and to lend money to local applicants for first mortgages.
    1934 - 19 years of occupation ended as the 1st Marine Brigade departed Haiti.
    1939-- After five directors, several script drafts, and endless casting changes, The movie musical The Wizard of Oz premieres at Grauman's Chinese Theatre in Hollywood.
    1941 - Les Brown and His Band of Renown paid tribute to baseball’s ‘Yankee Clipper’, Joe DiMaggio of the New York Yankees, with the recording of "Joltin’ Joe DiMaggio" on Okeh Records. From that time on, DiMaggio adopted the nickname, Joltin’ Joe. 
    1942-Adding to the fear of the times from both the war in the Pacific and Atlantic, this event is forgotten by many today. Six Germans were electrocuted this day in 1942 in Washington, DC. They were part of a group of eight who were tried by a military commission of seven generals. One saboteur, George John Dasch, was sentenced to 30 years in prison, and another Ernest Peter Bruger, received a life sentence. All eight were found guilty of landing in rubber boats from enemy submarines, carrying explosives, incendiaries, fuses, detonators timing devices, acids, and similar material. Four of them landed on June 13, 1942, at Amagansett, NY, on Long Island, and were discovered by Seamen Second Class John C. Cullen of the Amagansett Coast Guard Station. Four others landed on June 17, 1942, at Poine Vedra Beach near Jacksonville, FL.
    1942 - The Japanese submarine I-25 departed Japan with a floatplane in its hold. It was assembled upon arriving off the West Coast of the US, and used to bomb U.S. forests.
    1944--CONNOR, JAMES P. Medal of Honor Rank and organization: Sergeant, U.S. Army, 7th Infantry, 3d Infantry Division. Place and date: Cape Cavalaire, southern France, 15 August 1944. Entered service at: Wilmington, Del. Birth: Wilmington, Del. G.O. No.: 18, 15 March 1945. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty. On 15 August 1944, Sgt. Connor, through sheer grit and determination, led his platoon in clearing an enemy vastly superior in numbers and firepower from strongly entrenched positions on Cape Cavalaire, removing a grave enemy threat to his division during the amphibious landing in southern France, and thereby insured safe and uninterrupted landings for the huge volume of men and materiel which followed. His battle patrol landed on "Red Beach" with the mission of destroying the strongly fortified enemy positions on Cape Cavalaire with utmost speed. From the peninsula the enemy had commanding observation and seriously menaced the vast landing operations taking place. Though knocked down and seriously wounded in the neck by a hanging mine which killed his platoon lieutenant, Sgt. Connor refused medical aid and with his driving spirit practically carried the platoon across several thousand yards of mine-saturated beach through intense fire from mortars, 20-mm. flak guns, machineguns, and snipers. En route to the Cape he personally shot and killed 2 snipers. The platoon sergeant was killed and Sgt. Connor became platoon leader. Receiving a second wound, which lacerated his shoulder and back, he again refused evacuation, expressing determination to carry on until physically unable to continue. He reassured and prodded the hesitating men of his decimated platoon forward through almost impregnable mortar concentrations. Again emphasizing the prevalent urgency of their mission, he impelled his men toward a group of buildings honeycombed with enemy snipers and machineguns. Here he received his third grave wound, this time in the leg, felling him in his tracks. Still resolved to carry on, he relinquished command only after his attempts proved that it was physically impossible to stand. Nevertheless, from his prone position, he gave the orders and directed his men in assaulting the enemy. Infused with Sgt. Connor's dogged determination, the platoon, though reduced to less than one-third of its original 36 men, outflanked and rushed the enemy with such furiousness that they killed 7, captured 40, seized 3 machineguns and considerable other materiel, and took all their assigned objectives, successfully completing their mission. By his repeated examples of tenaciousness and indomitable spirit Sgt Connor transmitted his heroism to his men until they became a fighting team which could not be stopped.
    1946 - Saint Louis, MO, was deluged with a record 8.78 inches of rain in 24 hours.
    1951-Birthday of Randy Shilts, journalist known for his reporting on the AIDS epidemic. One of the first openly homosexual journalists to work for a mainstream newspaper and the author of And the Band Played On: Politics, People and the AIDS Epidemic. Born at Davenport, IA, and died at Guerneville, CA, Feb 17, 1994.
    1951---Top Hits
Too Young - Nat King Cole
Mister and Mississippi - Patti Page
Because of You - Tony Bennett
I Wanna Play House with You - Eddy Arnold
    1953- Perry Como's "No Other Love" hits #1
    1955--Elvis Presley attends a meeting in Memphis with his manager Bob Neal, Colonel Tom Parker and Vernon Presley, at which a new contract is signed that names Colonel Parker as "special advisor" with control of virtually every aspect of Elvis' career. Parker was not really a Colonel at all, but a Dutch immigrant named Andreas Cornelius van Kujik, whose honorary title was given to him in 1948 by Governor Jimmie Davis of Louisiana. He was a flamboyant promoter whose pre-Elvis experience included shows called The Great Parker Pony Circus and Tom Parker and His Dancing Turkeys and was a veteran of carnivals, medicine shows and various other entertainment enterprises.
   1955--After a suggestion that RCA bid $20,000 to land Elvis Presley, company executive Mitch Miller replies "no singer is worth that much."
    1959---Top Hits
Lonely Boy - Paul Anka
A Big Hunk o’ Love - Elvis Presley
My Heart is an Open Book - Carl Dobkins, Jr.
Waterloo - Stonewall Jackson
    1960-Elvis Presley's "It's Now or Never" sits on top of the Billboard singles chart, where it would stay for a month. The record would have international sales of over 20 million and become a personal favorite of The King.
    1960- British Decca destroyed 25,000 copies of Ray Peterson's death-rock song, "Tell Laura I Love Her." The company refused to release a song which it said was "too tasteless and vulgar for the English sensibility." A rival firm, however, had no such compunction, recording a cover version by a singer named Ricky Valance, which went to number one on the British chart. In the US, Ray Peterson's recording of "Tell Laura I Love Her" reached number seven on the Billboard pop chart.
    1964-Despite the fact that the US record charts are dominated by Rock and Roll, crooner Dean Martin has the number one record with his biggest hit, "Everybody Loves Somebody". The song had been around since 1949 and had been previously recorded by several well known artists without success.
    1964 - A race riot took place in Dixmoor, a suburb of Chicago, Ill.
    1965-The Beatles' third North American tour kicks off at Shea Stadium in front of a record crowd of 55,000 fans and 2,000 security guards. It grossed $304,000, of which The Beatles' share was $160,000. At 8 pm EST, the Beatles take the stage at Shea Stadium in New York City, marking the very first time a rock band would headline a stadium concert and a major victory for promoter Sid Bernstein, who had arranged the gig after his gamble of booking the then-unknown group at Carnegie Hall had paid off. Tickets for the show, sold merely by word of mouth created by kids who asked Bernstein about the next Beatles show while he strolled in Central Park, sold out in just three weeks, beating the stadium's old seating record with 56,000 seats sold. Two thousand professionals were pressed into service for security. The concert, filmed for BBC and NBC both, also featured openers Brenda Holloway, The King Curtis Band, and Bernstein's new obsession, the Young Rascals.
    1967---Top Hits
Light My Fire - The Doors
All You Need is Love - The Beatles
A Whiter Shade of Pale - Procol Harum
I’ll Never Find Another You - Sonny James
   1967--At the San Francisco Fillmore Auditorium: Count Basie & His Orchestra, Chuck Berry, Charles Lloyd Quartet, The Young Rascals, Steve Miller Band, Hair.
   1967 - The Sundance fire in northern Idaho was started by lightning. Winds of 50 mph carried firebrands as much as ten miles in advance to ignite new fires, and as a result, the forest fire spread twenty miles across the Selkirk Mountains in just twelve hours, burning 56,000 acres. The heat of the fire produced whirlwinds of flame with winds up to 300 mph which flung giant trees about like matchsticks.
    1968--- The Beatles record "Rocky Raccoon"
    1968- Race riot in Miami Florida.
    1969-Photographer Iain Macmillan took six pictures of the Beatles crossing the street outside their Abbey Road studio in London. A police officer held up traffic while the band walked back and forth several times. Paul McCartney chose one of the pictures for the cover of the "Abbey Road" album.
    1969--The Woodstock Music and Art Festival began on Max Yasgur's 600 acre farm in Bethel, New York. Promising "three days of peace, love, and music," The Woodstock Music and Art Fair begins on Max Yasgur's sixty-acre farm in Bethel, NY (nearby Woodstock being the original location). Featuring two dozen of the country's hottest bands, the festival draws over 450,000 hippies to the tiny town, causing unimaginable traffic and logistics problems but nevertheless impressing the ordinary citizens. Three deaths, two births, four miscarriages, and a wedding are all reported before Jimi Hendrix ends the festivities with his legendary rendition of the US national anthem. Also appearing were (in part) Joe Cocker, Crosby Stills Nash and Young, Santana, The Who, Creedence Clearwater Revival, Grateful Dead, Janis Joplin, The Band, Canned Heat, Joan Baez, Santana, Melanie, Ten Years After, Sly and the Family Stone, Johnny Winter, Jefferson Airplane, Ravi Shankar, Country Joe and the Fish, Blood Sweat and Tears, and Arlo Guthrie. Among those who elected not to attend were Tommy James and the Shondells, Led Zeppelin, The Beatles, Bob Dylan, The Byrds, Jethro Tull, and The Moody Blues.
    1969-Three Dog Night are awarded a Gold record for their self-titled debut album. The LP featured two modest selling 45s, "Nobody" and "Try A Little Tenderness" and the group had moved on to record their second album, "Suitable for Framing" when ABC Dunhill released a third single, "One". It shot to #5 in the US and subsequent copies of the LP were labeled "Three Dog Night - One".
    1970-"Looking Out My Back Door" by Credence Clearwater Revival enters the Billboard Hot 100 on its way to #2. Although some fans speculate that the song is about drugs because of its colorful, dream-like lyrics, writer John Fogerty said it was actually written for his then three-year old son, Josh.
    1970 - New York Yankees honor Casey Stengel, retiring his number 37.
    1970 - CCR's "Looking Out My Back Door" is released.
    1970 - Janis Joplin bought a tombstone for blues singer Bessie Smith's unmarked grave in a Philadelphia cemetery. Less than two months later, Joplin herself was dead of a drug overdose. Smith had died following an auto accident in 1942 at the age of 37.
    1973-Vice-President Spiro T Agnew brands them "damned lies" regarding reports he took kickbacks from government contracts in Maryland. He vowed not to resign; that he was innocent.
    1974-President Richard Nixon announced in a televised address that he would resign. Three days earlier he had released tape transcripts revealing he had impeded the Watergate investigation. Nixon told an audience of some 100,000,000, he had made some wrong decisions but that he was resigning because he no longer had enough support in Congress.
    1974-Eric Clapton receives a gold record for "461 Ocean Boulevard." It's his comeback album and contains his Number One version of "I Shot the Sheriff." The album reaches the top of the charts.
    1974 - Roberta Flack received a gold record for the single, "Feel Like Makin’ Love". Flack, born in Asheville, NC and raised in Arlington, VA, was awarded a music scholarship to Howard University in Washington, DC -- at the age of 15. One of her classmates became a singing partner on several hit songs. Donny Hathaway joined Flack on "You’ve Got a Friend", "Where is the Love" and "The Closer I Get to You". She had 10 hits on the pop charts in the 1970s and 1980s. 
    1975---Top Hits
One of These Nights - Eagles
Jive Talkin’ - Bee Gees
Please Mr. Please - Olivia Newton-John
Just Get Up and Close the Door - Johnny Rodriguez
    1975- country singer Hank Williams Junior suffered severe head injuries when he fell 150 metres while mountain climbing in Montana. When he returned to performing months later, he had switched to a country-rock sound from the pure country style made famous by his father.
    1976-The Chicago White Sox made baseball sartorial history by donning shorts for a game against the Kansas City Royals. The Sox won, 5-2, but the shorts, a novelty thought up by owner Bill Veeck, lasted only a while.
    1981-Shiaway St. Pat, driven by Ray Remmen, won the Hambletonia, the most important race for three-year-old trotters, contested for the first time at the Meadowlands in New Jersey. 
    1981-Lionel Richie and Diana Ross saw their duet "Endless Love" rise to the number one position in the US for the first of nine weeks. Because of scheduling difficulties, the song was completed at a Reno, Nevada recording studio at 5 A.M., after one of Diana's concerts. Richie was dividing his time between the next Commodores album and work with Kenny Rogers.
    1983---Top Hits
Every Breath You Take - The Police
Sweet Dreams (Are Made of This) - Eurythmics
She Works Hard for the Money - Donna Summer
Your Love’s on the Line - Earl Thomas Conley
    1984 - Carl Lewis won his third gold medal at the Los Angeles Olympics. He won the 200-meter sprint. At the same time, Greg Louganis received his first gold medal in diving in the springboard competition. 
    1986- singer David Crosby, sentenced to a five-year term for drug and weapons charges, was paroled from a prison in Huntsville, Texas after serving only five months. The convictions were overturned by a Texas appeals court in November 1987- Crosby said when he was released that he had kicked a ten-year drug habit and wanted to resume his musical career. He gained fame with the Byrds in the late 1960's, then teamed with Stephen Stills, Graham Nash, and Neil Young.
    1987 - Less than three months after they go to No. 1 on Billboard's Hot 100 for the first time with "With or Without You," U2 return to the top of the chart with "I Still Haven't Found what I'm Looking For," the second single from "The Joshua Tree."( A birthday present for the Edge.)
   1987 - Thunderstorms developing ahead of a sharp cold front produced severe weather in the Upper Midwest during the afternoon and evening hours, with Minnesota and eastern South Dakota hardest hit. A thunderstorm in west central Minnesota spawned a tornado at Eagle Lake which killed one person and injured eight others. A thunder- storm in eastern South Dakota produced softball size hail at Warner.
    1988 - Thirty five cities in twenty states in the north central and northeastern U.S. reported record high temperatures for the date, including Lamoni IA and Baltimore MD, where the mercury hit 105 degrees. Temperatures 100 degrees or above were reported in twenty-two states. Pierre SD was the hot spot in the nation with a high of 114 degrees. Bluefield WV reported eight straight days of record heat.
    1988-The first night game of Chicago’s Wrigley Field was postponed by rain with the Cubs leading the Philadelphia Phillies 3-1, in the bottom of the fourth inning. The Phillies’ Phil Bradley let off the game with a home run, but in a postponed game, all statistics are washed out.
    1989 - Evening thunderstorms in eastern New Mexico produced wind gusts to 66 mph at Clovis. Evening thunderstorms in West Texas produced baseball size hail around Hereford, Dimmitt, Ware and Dalhart.
    1990- Iraq annexes Kuwait. The US has been sending troops to Saudi Arabia and moving the US Navy into the Mediterranean seas.
    1991---Top Hits
(Everything I Do) I Do It for You - Bryan Adams
P.A.S.S.I.O.N. - Rythm Syndicate
Summertime - D.J. Jazzy Jeff & The Fresh Prince
She’s in Love with the Boy - Trisha Yearwood
    1991-Paul Simon gave a free concert in Central Park, New York in front of 600,000 people. The performance was released later in the year as "Paul Simon's Concert in the Park".
    1993-The Dream Team, a specially-assembled team of NBA all-stars, defeated Crotia, 117-85, to win the gold medal at the 1992 Summer Olympics in Barcelona. The Dream Team, coached by Chuck Daly, including Charles Barkley, Larry Bird, Clyde Drexler, Patrick Ewing, Magic Johnson, Michael Jordan, Christian Laettner, Karl Malone, Chris Mullin, Scottie Pippen, David Robinson and John Stockton.
    1994- Janet Jackson tied Aretha Franklin for the most gold singles by a female artist - 14 - when "Any Time, Any Place" was certified as having sold more than 500,000 copies. 
    1995- the Canadian stage production of Disney's "Beauty and the Beast" opened at the Princess of Wales Theatre in Toronto. At $17 million, it was the most expensive stage production in Canadian history.
    1998-The largest free jazz festival in the world, San Jose, California, draws 200,000 to hear Sandoval, Broadbent, Schuur, among many others.
    2007-The Osmond Brothers, joined by siblings Donny, Marie and Jimmy, took the stage for the taping of a 50th anniversary reunion show to be aired on PBS. A meeting of no less than seven singing Osmonds onstage hadn't happened in more than 20 years, although no one could remember the exact date of the last full family concert.




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