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Monday, August 20, 2012

Today's Equipment Leasing Headlines

Archives August 20, 2002
 Mike Cingari Back in the Leasing Business???
  Classified Ads---Senior Management
 Nullmeyer is back! Who is he?!
  Career Crossroad—“They want references.”
   Classified Ads---Help Wanted
 Lowest Vehicle loan rates across US
  by David Hayes and Harish Mali, SNL Financial
Leasing 102 by Mr. Terry Winders, CLP
 “Lease Company Policy”
   Top Stories August 13-16
     Lessor Prevails Against Chutzpa Defense
      of Bank Approval of False Financial Statement
      by Tom McCurnin, Esq.
  Banks Continue Benefit from Improving Credit Quality
   by Kevin Dobbs, Andrew Wolcott, Ken McCarthy
    5-year CD Dips Below 1% for the First Time in History
      Franchise to Watch: Bullritos
      QSR Magazine
         Basset Hound/German Shephard
        Toronto, Canada Adopt-a-Dog
         Classified ads—Asset Management
News Briefs---
 Euro/Asia Global Slowdown in Equipment Leasing hiring
  Bank scandals: Somebody must go to jail
   With Bank of America cutting branches, who’s left behind?
    Banks, Thrifts lop off 750+ branches in a year
     Orix Corp. to Invest $680 Million in Solar Power Projects
      Northern California fire forces evacuation of some 2,000 homes
       Drought-shrunken crops fuel ethanol debate
        Popeyes Reports Double-Digit Sales Increase in Q2

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

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
     Baseball Poem
      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.


Archives August 20, 2002
Mike Cingari Back in the Leasing Business???

(Note, many readers think these are current stories, but as
the first word notes, they are from the Leasing News archives,
which go back to when they were originally saved, and all
previous editions and articles are free and available at:

(Note: The current month is on top by date and story and below are the stories per year and month, as well as subjects can be found by using the "search" feature. Each week there are 500 plus searches, and some weeks much more than that. Editor)

Mike Cingari Back in the Leasing Business???

It appears on July 25th the former president of MSM Capital, and Colonial Pacific Leasing, Michael Cingari, with agent Grant Holstrom, formed “Crosswater Capital” in Southern California. 15615 Alton Parkway, Ste 175, Irvine, CA 92618 DNS shows: 4 Marquette Way Coto De Caza, CA 92679 (949)459-2129

Mr.Cingari was not available for a comment.

IRVINE, CA 92618
dba MSM

NUMBER: 0215918
FILED: 08/01/2002
TYPE: Chapter 7
BLDG 411 W

2677 N MAIN ST #870
PHONE NO: 714-835-3130

2603 MAIN ST #600
IRVINE, CA 92614
PHONE NO: 800-436-4646

MSM Capital Bulletin Board Complaint:

Former employees now have reportedly over $200,000 in judgments against the company, who they are reportedly appealing to the California Franchise Tax Board for relief and preference among creditors, who include banks, funders, dealers not paid, and applicants who’s advance rentals were not returned.

(2012 Note: Crosswater Capital Website:

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




Classified Ads---Senior Management

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

Philadelphia, PA
27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries. 
Southern CA
20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


Nullmeyer is back! Who he?!

"Mr. Nullmeyer is President and Chief Executive Officer of OTEC Research (a private research firm). Prior to that, he was President and Chief Executive Officer of A&A Capital (a private investment company). From 1999 to 2001 he was Chief Executive Officer, Vendor Finance of CIT Group (a finance company) and, prior to 1999, President of Newcourt Financial (a finance company). Mr. Nullmeyer is a chartered accountant."
    Davis & Henderson Annual Report (Full biography at end of article)

The Canadian "Globe and Mail" headlined "Hudson's Element eyes manufacturing finance market."

The story on Element "Financier Steve Hudson is adding to his new venture a key member of the team that fuelled the fast growth of his first multi-billion company, Newcourt Credit Group, announcing that Bradley Nullmeyer is joining "as a senior executive who will lead the company’s expansion into vendor finance.”

"It was vendor finance that really drove the growth at Newcourt, bringing in most of the company’s assets by the mid-1990s as Newcourt set up programs for huge manufacturers such as Dell Computer, Western Star Trucks, Avaya (formerly Lucent Technologies) and Snap-on Corporation,“ the story goes.

"If Element can pull off something similar, the addition of Mr. Nullmeyer could mark a new shift to faster growth at Mr. Hudson’s newest company.

"Mr. Nullmeyer, who has been working on other ventures in recent years, buys into Mr. Hudson’s thesis that there’s a void in the market left by the retreat of other financial firms in the wake of the credit crisis. At the same time, the manufacturing sector is seeing signs of a rebound, creating an opportunity to do financing for firms that want their clients to be able to buy products on credit.

"Mr. Hudson said that Mr. Nullmeyer, who built a $30-billion vendor finance operation at Newcourt, should be able to get Element to the “$5-billion to $10-range easily. Easily.”

"That will require increased funding, but Mr. Hudson said that Element’s backers at life insurance companies and banks are ready to step up. For example, the company is increasing its credit line to $750-million from $500-million.

"In addition, Element is trying to add pension plans to its roster of funding sources, he said."

"As North American businesses retool for the next growth cycle, I believe that Element is exceptionally well-positioned to deliver annuity-like originations by building customized vendor financing programs for leading North American equipment manufacturers," Mr. Nullmeyer noted in the company press release out of Toronto, Canada.

The story brought three comments from
Globe and Mail readers:

"it's just like the Blues Brothers ‘putting the band back together’".....just wait for the car wreck!"

"Not long ago, Hudson was reminded of his all-too-quick expansion at Newcourt, and how that ended badly. 'Not this time. I've learned from past mistakes' was his response. Apparently he hasn't. This is a carbon copy of Newcourt so far. There's no market he doesn't want to be in. Investors eventually got burnt at Newcourt as the company went from stock market darling to pariah.”

"When Steve Hudson left the industry after selling Newcourt his pockets were lined in gold. He lived the high life while his baby endured trauma and shock. CIT's acquisition was followed by a sale to Tyco at an indisputably inflated price. Later, when Tyco spun off CIT they took a hit of roughly $4 Billion USD - a direct hit to shareholders. Both Hudson and Nullmeyer think they can employ the tactics of the 80's and 90's to recreate what they built at Newcourt. What they don't know is that the market has changed substantially and Vendors no longer hand over the keys to the kingdom to their favorite leasing company. I suspect that their ignorance will catch up with them as their reputation for treachery prevents them from recreating their former success. Dell, Snap-On, Microsoft and others have all unwound their former JV's with CIT. Today the vendor is in the driver's seat and the lessors - especially newly created wobbly-legged lessors. They will struggle to compete using the methods of the past. Good Luck, guys! You're going to need it."

Biography from Bloomberg Businessweek:
Mr. Bradley D. Nullmeyer, age 52, Brad, serves as President and Chief Executive Officer of A & A Capital. Mr. Nullmeyer served as the President of Newcourt Financial, a subsidiary of Newcourt Credit Group Inc. and was a founding principal of Newcourt Credit Group Inc. Mr. Nullmeyer joined Newcourt Credit Group Inc., in 1986 and was responsible for the overall management and direction of its commercial finance business, known as Newcourt Financial. Prior to joining Newcourt Credit Group Inc., Mr. Nullmeyer was a financial officer with a major transportation company and a chartered accountant with Ernst & Young. From 1999 to 2001, he was the Chief Executive Officer, Vendor Finance of CIT Group. Mr. Nullmeyer has been a Director of Davis Henderson Income Fund (also known as Davis + Henderson Corporation) since November 6, 2001 and Davis Henderson G.P. Inc., the General Partner of Davis Henderson Income Fund since December 20, 2001. He serves as a Director at RealMed Corporation. Mr. Nullmeyer served as a Director of Newcourt Credit Group Inc., since February 1991. Mr. Nullmeyer is a Chartered Accountant.


Full Story:

Element Financial Press Release:




Career Crossroad—“They want references.”

Question: I am currently interviewing for various positions. On the applications, it requests references; I do not feel comfortable supplying this information. How should I handle?

Answer: All (99%) applications include a section requesting references; either:

    Indicate “Available upon verbal offer”

OR, I strongly suggest

    Including references from previous employers AND indicate
     “Current employer references available upon verbal offer”

Make sure your references are career/employer-oriented; not “personal”. I see this on references of all ages, not just new to the marketplace. The norm is to include three work related references – I strongly suggest you supply five! Often one or two may not be available and that might make the difference in deciding which applicant to hire.

Make sure you include previous hiring managers / direct supervisors. Even better, include C-Level Executives (e.g. CEO, CCO, President, Owner, etc…). A nice touch to your resume submittal would be to include Reference Letters from the same individuals.

  • Note, resumes do not replace formal applications
  • Never leave any area of your application blank
  • Never, never, reply “see resume”

· If you have to fill out manually (most are online), make sure your handwriting is legible and professional (take your time)

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
Twitter: @RIIInfo
Invite me to Connect on LinkedIn
& Follow RII on LinkedIn

Career Crossroads Previous Columns



Help Wanted Classified Ads

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The idea is to attract an applicant to learn more, either to click to a full description on your web site or to a full job description attachment (free, no charge).

All Help Wanted ads appear chronologically above the headlines, as well as appear in the news edition "classified ads" and the web site, "classified ads."

Contact for more
information or to help word a classified ad.

Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board




Sent in by:
Mark Van Nest, CVLE OCLC
MidWestern Leasing
Dayton, Ohio  





Lowest Vehicle loan rates across US
by David Hayes and Harish Mali
SNL Financial

Rates have never been lower for both new and used vehicles. The national average interest rate on a used car loan is only 4 basis points higher than the national average rate of 4.36% for a new car loan.

Credit unions still have the lowest rates. Suitland, Md.-based Andrews Federal Credit Union led the nation with its 1.59% rate on both used and new auto loans. The credit union's seven U.S. branches are in Maryland, New Jersey and Washington, D.C. The credit union also made an appearance on SNL's recent analysis of the nation's lowest credit card rates. New and used car loans accounted for 28.10% and 13.07%, respectively, of Andrews' total loan portfolio at June 30.

Ironically Montross, Va.-based Peoples Community Bank took the crown on the bank and thrift side for the lowest rates on both used car and new car loans. The company's five branches are all in eastern Virginia. Despite its market-beating rates, auto loans accounted for only 1.22% of the bank's total loans at June 30.

The No. 2 spot among banks and thrifts for both new and used auto loans went to Citizens State Bank of New Castle Indiana. Its branches are all in Indiana, east of Indianapolis.

Sparta, Mich.-based ChoiceOne Bank took third in both categories with both its used and new auto loan rates coming in at 2.49%. The bank's 13 branches are all in western Michigan north of Grand Rapids.

Two Bank of America Corp. subsidiaries, Bank of America California NA and Bank of America Oregon NA, made both lists, and Bank of America NA's 2.80% rate qualified it for the new-car-loan chart.

Houston-based J S C Federal Credit Union ranked No. 4 among credit unions for both used and new car loans at 1.74%. The credit union's 15 branches are all in the Houston area.

Both the new and used lists were dominated by credit unions with less than $500 million in assets.


Leasing 102
by Mr. Terry Winders, CLP

“Lease Company Policy”

Any leasing company of 5 employees or greater needs to have a lease policy and it needs to be provided to everyone to read and understand. You want everyone to understand the direction of the company that comes from the business plan but how to respond and handle the day to day activities comes from the company policy. In addition, it may be valuable in several legal matters regarding not only employee, but also in other court matters, as Tom McCurnin has explained in several of his columns.

The lease policy will vary from one type of leasing company to another type of leasing company such as a brokerage operation, to a discounter, to an independent leasing company doing both recourse and non-recourse business, to a bank leasing company. I have audited many such companies and have found a lot of similarities.

The opening statement sets the tone and qualifies its purpose:

This equipment lease policy is in addition to the company loan policy or the business plan. This lease policy is intended to supplement the bank's loan policy in areas where leasing may differ or require special treatment. In all respects leasing will follow the standard credit policy for events not covered in this leasing section.

Next it should start with:

A Statement of duties and authorities: Who can approve credit and residual assumptions and at what level. What type of leases is authorized and what territory restrictions apply.

Credit Guidelines: Standard credit requirements or limits of exposure and any other requirements for qualification.

Concentrations and Limits: Discussion on transaction size and financial information required based on type of lease and transaction size.

Laws and regulations: A recognition and statement of tax requirements, accounting requirements and legal documentation.

Limits on type and value of equipment: This section presents restrictions on equipment that should not be leased or transactions that are out of the financial capabilities of the lease company.

Lease Proposals: What are the restrictions on the limits presented in a lease proposal and what commitments may be presented within limits.

Lease documentation: A presentation of the required documentation and a list of documents required by type of lease and the requirement for the timing of document preparation and procedure for acceptance.

Residual assumptions and equipment value: Requirements for equipment investigation including price, use, and description. Limits on types of equipment that had limited or short use.

Insurance requirements: Endorsement and policy limits required. Limits on insurance companies with low ratings.

UCC filings: Procedures and requirements for filing UCC’s and confirming proper filing.

Equipment inspections: Procedures to check up on equipment use, location, and current value. Includes reasons for the inspection and requirements on how to proceed.

Early terminations: Procedures to handle requests to early terminate a lease with a non-termination requirement.

Late charges and collection fees and other fees: What fees and the amount to be placed in the lease based on rate requirements and legal limits.

Vendor relationships: Procedures for dealing with vendors including agreements and funding requirements

Assumption of a lease: Requirements to handle a lease assumption and requirements for documentations and refilling.

Extensions: When are extensions allowed and what documents are required and what is its impact on residuals and yield requirements?

Return and disposition of equipment: Requirements for transportation, insurance, location for storage, limits on get ready expenses, and limits on releasing.

The above is only a suggestion of information that should be included in a policy to direct the proper direction of a well managed leasing company.

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:

Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame.


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


Top Stories August 13-16

Here are the top ten stories opened by readers

(1) Integrity Financial Groups, Murray, Utah
Bulletin Board Complaint

(2) Sheldon Player/Equipment Acquisition Resources
Typo in Lease Spawns Major Litigation by Tom McCurnin, Esq.

(3) New Case against Mazuma Capital and Republic Bank
---Automatic Evergreen Payment---PPR

(4) Radiance Capital, Tacoma, Washington
Bulletin Board Complaint
Purchase Option on EFA, Won’t Return $5,000 S.D.

(5) Leasing 102 by Mr. Terry Winders, CLP
Terminating a lease”

(6) Bank Beat---Lee Price on Loose, FBI Releases 2 Videos
U.S. Coast Guard Report Did Not Jump Overboard

(7) New Hires---Promotions

(8) Debt Collector sends Collection Letter to
Debtor’s Employment, Creates Class Action Suit by Tom McCurnin, Esq.

(9) Are You Unknowingly Financing Inventory? by Tom McCurnin, Esq.

Larry LaChance, CLP
President-Bankers Capital-Northborough, MA

Why Choose Advanced Property Tax Compliance?

Dedicated to the leasing industry
click here to learn more. 

Hear What Our Clients say about us 
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Gary DiLillo, President 440.871.0555 or


Lessor Prevails Against Chutzpa Defense
of Bank Approval of False Financial Statement

by Tom McCurnin, Esq.
Barton, Klugman & Oetting
Los Angeles, California

Lessee’s Claim of Negligent Lending Falls Upon Unsympathetic
Ninth Circuit Court of Appeals Panel

Occasionally, a Debtor gets so brazen at his attempt at securing credit that there isn’t much to say after the Debtor gets caught with his hands in the cookie jar. Sometimes all the Debtor can say is, well, “you shouldn’t have put the cookie jar so close to the countertop.” That strategy didn’t work out for one lessee.

In the case In re Kempf, 2012 WL 603805 (9th Cir. BAP 2012), the Debtor was so anxious for credit to lease a mobile CT scanning machine from Hitachi Capital that he issued a financial statement showing a $4mm net worth, centered mostly in off shore trust assets to which he was a beneficiary. The deal was approved, and Mr. Kempf drove off in his brand new mobile CT scanning machine. There was one little problem—Kempf wasn’t a beneficiary to the trust, his wife was, and he lied on his financial statements to the lessor.

The venture wasn’t successful, and a mere nine months later Kempf defaulted. Hitachi instituted a State court collection action, discovering that Kempf had no interest in his wife’s trust. A State Court judge agreed, and a judgment was obtained in favor of the lessor and against Kempf. Kempf then filed a Chapter 7 Bankruptcy.

In the Bankruptcy, Kempf claimed that Hitachi could not have reasonably relied upon his financial statement because it was obvious he was lying. Indeed, Hitachi obtained a copy of the trust and it clearly reflected that Kempf’s wife, not Kempf, was the sole beneficiary. Thus it was argued that the loan officer did minimal due diligence, had never done a deal in a community property State, was unfamiliar with trusts, and did not seek the advice of in house counsel. Kempf even went so far as retaining an expert witness, Thomas Tarter, a well-known banking expert, who routinely opines that banks never do anything right.

The trial court rejected that argument and found Mr. Kempf liable to Hitachi for the guaranty of the lease, and a non-dischargeable judgment was entered for $750,000 plus $120,000 in attorney fees.

On appeal, the same arguments were raised. However, the Court of Appeals had no problem in rejecting the “negligent lending” theories advanced by Kempf. The court stated:

“Lenders do not have to hire detectives before they are found to have reasonably relied upon the debtor's false financial statements. When there is evidence of materially fraudulent statements, little investigation is required for a creditor to have reasonably relied on the debtor's representations. The mere fact that a creditor could have performed a more thorough investigation or could have avoided its loss by independently attempting to verify the information contained in the debtor's financial statement is no defense in a proceeding to except the debt from discharge. Finally, it noted that there was nothing in the record to suggest that Hitachi did not adhere to its normal business practices.”

The Bankruptcy Court got it right on this one, avoiding the hyper-technical arguments that somehow the creditor can’t take the borrower’s statements at face value.

The lessons for the equipment lessor are two-fold.

First, obtain financials and tax returns on the guarantor. The financial statement is the primary document that should be reviewed. The creditor does not have to have a tax degree and dissect the nuances of the tax return, if it is used for verification of income.

Second, as stated in the opinion, the company should have policies in place that guide the underwriter in the credit approval process. Those policies should be enforced with training sessions. Here, the policies of Hitachi were that the financial statement was the primary underwriting document, and the tax return and the trust instrument were not reviewed in their totality and were only glanced at to verify family income. Those policies carried the day.

Tom McCurnin
Barton, Klugman & Oetting
Los Angeles, California
Voice: (213) 621-4000
Fax (213) 625-1832

Visit our Web Site at

Court Case:

Previous Tom McCurnin Articles:



Banks Continue Benefit from Improving Credit Quality
by Kevin Dobbs, Andrew Wolcott, Ken McCarthy
SNL Financial

Banks continued to benefit from improving credit quality in the second quarter, lowering provision levels and drawing down reserves.

Each of the nation's five biggest banks — JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and U.S. Bancorp — reported lower net charge-offs in the latest completed quarter, allowing them to bring down provisions and reserves, an SNL Financial analysis found. Sixteen of the nation's 20 largest banks reported lower net charge-offs. Of those 20 companies, 15 released reserves, and 11 of them lowered provisions.

"We're still seeing positives from working through past credit problems, and as nonperformers decrease, allowances for losses need to come down, too," Matthew Schultheis, an analyst at Boenning & Scattergood Inc., told SNL.

At SunTrust Banks Inc., for example, second-quarter earnings were up 4 cents per share from the previous quarter, in large part because of a $17 million provision decline on lower net charge-offs and continued broad improvement in credit, CFO Aleem Gillani said during a call to discuss the company's latest results.

Year over year, Gillani said, nonperforming loans were down $1.2 billion, or more than 30%.

Gillani echoed many of his colleagues, who provided similar results on the credit front during earnings season.

Economic conditions, while hardly robust, have hovered in positive territory long enough for the banking industry as a whole to see its credit quality picture improve steadily over the past several quarters. The second quarter was no exception.

But many bankers say they are nearing an inflection point. They say the pace of reserve releases likely will slow as 2012 wears on, because the bulk of credit improvements have now been realized. Gillani hinted at just that. While expecting SunTrust's asset quality trends to continue to improve, driven by the residential loan portfolio, Gillani said most of the commercial and consumer portfolios "are currently nearing more normal credit metric levels."

At Comerica Inc., for another example, the provision for credit losses decreased $3 million in the second quarter to $19 million, as asset quality improved, and the company released about $26 million in reserves, roughly on par with the release in the first quarter.

Looking out to the remainder of this year, Comerica CFO Karen Parkhill, during a call with analysts to discuss earnings, said to expect credit trends to "remain positive" but credit expenses likely will decline "at a slower pace" as "we approach normal" levels.

Chief Credit Officer John Killian said Comerica's charge-offs and provisions "would be very close in the third and fourth quarter to what they were in the second quarter." And he expects the company's reserve release "to be very much" in the range of the past two quarters "as we go forward for the next couple of quarters."

Moreover, assuming the economy does not dip back into recession and banks can produce some loan growth in coming quarters, provisions might need to be padded some as the industry moves into 2013.

Bankers are pushing hard for growth. Many have widely bemoaned intensifying pricing pressure, as lenders compete aggressively in a relatively shallow pool of creditworthy customers.

"We have seen a significant amount of pricing pressure in the Nashville market, particularly on owner-occupied real estate transactions and C&I opportunities," G. Kent Cleaver, president and COO of Avenue Financial Holdings Inc.'s Nashville, Tenn.-based Avenue Bank, told SNL.

"The pressure is being driven by a material increase in our competitors' appetite for loan growth and market share without a corresponding increase in new loan opportunities," Cleaver continued. "Fortunately, most banks in our market have held to prudent quality and structure standards; however, the disproportionate demand [versus] supply in the market has led to some very aggressive pricing decisions on both rate and term."

Among those that are most aggressive, analysts say, there is of course the possibility that they are setting themselves up for future credit headaches and, by extension, higher charge-offs, reserves and provisions.

"But I still think we're a little early to get worried about that in general," Schultheis said. "Even though pricing is a little skewed right now, loan growth is pretty modest, single digits, and that's just not strong enough to get worked up, yet, about provisions expanding."

SNL found, for instance, that among banks and thrifts with less than $10 billion in assets, median loan growth in the second quarter advanced 1.12% over the previous quarter and a mere 0.58% from a year earlier.

"So probably we're going to see a continued move toward normalized credit," Schultheis said, "and then we'll have to see if and when we get more meaningful loan growth."





5-year CD Dips Below 1% for the First Time in History

The national average interest rate on the 5-year Certificate of Deposit dropped to 0.99 percent last week, marking the first time in recorded history that the hallmark of the long-term CDs dips below 1 percent, Dan Geller, Ph.D., Executive Vice Presidents at Market Rates Insight, San Anselmo, California.

Dan Geller

The 5-year CD, which has always been the hallmark of high returns and stable annuities, has never dipped below 1 percent for as long as interest rate records are available, he reported. In the last decade, the 5-year CD reached its peak in August of 2000, when the national average rate for the 5-year CD stood at 6.25 percent. The highest the 5-year CD rate has ever been was in June of 1981, when rates for this CD were over 20 percent.

Other long-term CD rates are also declining, Geller noted. The 4-year CD also reached a record low of 0.78 percent this week, and the 3-year CD rate now stands at 0.63 percent. In the last decade, both the 4-year CD and the 3-year CD reached their interest rate peak in August of 2000, with an interest rate of 6.13 percent. The national average rate for all CD terms, from 3 months to 5 years, also reached a record low this week, and now stands at 0.46 percent.

“Interest rates are making history, but clearly not in a favorable way,” he said. "Unfortunately, the continuing decline in interest on deposits indicates that banks are forced to reduce their interest expense due to the soft lending market. As long as lending remains soft, and loan rates low, we will not see a change of course in deposit rates.”

Dan Geller Ph.D.
Executive Vice President
Market Rates Insight, Inc.
415-448-8813 (phone) | 415-259-0701 (fax)

John Kenny Receivables Management

• End of Lease Negotiations & Enforcement

• Fraud Investigations
• Credit Investigations • Asset Searches
• Skip-tracing • Third-party Commercial Collections | ph 315-866-1167|


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





Franchise to Watch: Bullritos
QSR Magazine

Texas-based brand offers its own take
on the Mexican fast-casual category.

Bullritos is a quick-serve Tex-Mex concept created by Russell Ybarra, owner of two Houston-based full-service chains, Gringo’s Mexican Kitchen and Jimmy Changas.

The name was inspired by Ybarra’s experience running with the bulls through the streets of Pamplona, Spain. While dining at Bullritos is considerably safer than that annual event, the interactive ordering system and plethora of possible ingredient combinations when creating a burrito make it an adventure in its own right.

When customers walk through the doors at a Bullritos, they grab a red marker and a white bag with menu choices printed on it. They mark their choices, put a name on the bag, and hand it to a Bullritos employee. In less than three minutes, the bag containing the order is handed back to the customer.

When marking the bag, a customer’s first decision is burrito, bowl, or tacos. Next comes a meat choice: chicken fajita, beef steak, carne guisada (a beef stew), pulled pork, or ground beef. Rice is available in cilantro lime or traditional Spanish varieties, and bean choices include charro (made with pinto beans), black, or fat-free refried. All bean choices are vegetarian.

Chile con queso or cheddar and Jack are the cheese selections, and the salsa list includes “Arriba!” red salsa, cilantro ranch, fresh pico de gallo, tomatoes, or habanero-tomatillo. Other possible add-ons include guacamole, roasted corn, jalapeños, peppers and onions, sour cream, and lettuce.

“Ordering is a very quick process with the bag,” says Mark Collins, Bullritos’ senior vice president. “People are not holding up the line trying to decide what they want.”

Collins says what sets Bullritos apart from its competition is that “everything is fresh.”

“Our taco meat, queso, beans, rice, pico … you name it, we make it fresh,” he says. “All of our veggies are fresh daily. We never use guacamole or pico made the day before.”

To make the most of the bull theme, the concept’s customer loyalty program is called “The Herd,” and diners are encouraged to take their order and “run with it.”

Bullritos units are located mainly in Texas, with single stores in Georgia, Louisiana, and Arkansas. The company hopes to have around 100 locations in three to five years.

“We started growing in the Houston area, but some of our other growth has simply been in places where franchisees wanted to go,” Collins explains. “One franchisee’s wife was from Georgia, so they decided to move back there and take Bullritos with them, opening a location there.”

For the immediate future, Collins says, Texas and nearby states will continue to be the main target for expansion.

Part of Bullritos’ growth has included expanding the menu beyond burritos, tacos, and bowls. The chain recently introduced dinner plates, which are ordered at the counter and not on a bag. Dinner plates include options like Fajitas, Carne Guisada, Quesadillas, Crispy Tacos, Pulled Pork, and Tamales. Plates are served with rice and beans and are available at both lunch and dinner at all locations.

In addition to plates, some Bullritos locations have also rolled out breakfast. The morning menu includes breakfast tacos, burritos, and quesadillas featuring bacon, sausage, eggs, potatoes, and chorizo.

“Breakfast is up to the franchisee,” Collins says. “Not all locations are conducive to breakfast, and the franchisee has to want to do it.”

Collins says Bullritos partnered with top brands like Tabasco, Coca-Cola, and Seattle’s Best Coffee, and will continue to do so. “People are time-conscious, but they still want high quality,” he says. “With this economy, fast casual works for families on a budget. You’re not tipping a waiter or buying expensive desserts, but you can still get fresh, quality ingredients and top brands.”

An average per-person ticket at Bullritos is $9–$11, with dinner being on the higher end of that range because most locations serve beer and margaritas. As for nonalcoholic beverages, Bullritos restaurants all have Coca-Cola Freestyle machines.

From burritos to beverages, it seems to be all about choices and combinations at Bullritos, and that attracts a wide range of customers.

“We serve an eclectic group of people,” Collins says. “We cater to families, blue-collar workers, white-collar workers … everyone. The burrito concept as a whole is geared toward the younger generation, but if you come to a Bullritos at lunch, you’ll see high school kids who can leave campus, construction workers, and stay-at-home moms. At dinner we see a lot of families.”

He says that while some burrito concepts have been criticized for having a cold, industrial environment, Bullritos has a warm atmosphere.

“You can be in and out of Bullritos in a hurry or you can take your time, have a beer, and watch sports or business news on TV,” Collins says. “Some locations even offer complimentary soft-serve ice cream to be even more welcoming.”

Founder/President: Russell Ybarra
HQ: La Port, Texas
Year Started: 2008
Annual Sales: Undisclosed
Total Units: 18
Franchise Units: 17



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Basset Hound/German Shephard
Toronto, Canada Adopt-a-Dog

PANDA - ID#A628539

"My name is PANDA.
I am a neutered male, black and white Basset Hound and German Shepherd Dog.
"The shelter staff thinks I am about 1 year old.
"I have been at the shelter since Aug 09, 2012.

For more information about this animal, call:
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Ask for information about animal ID number A628539

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Classified ads—Asset Management

Leasing Industry Outsourcing
(Providing Services and Products)

Asset Management: Atlanta, GA
premier provide accounts receivable management functions from 3rd Party contingency collections to Portfolio Purchasing. Contact George Elliott, National Account Manager. 678-694-9063, 

Asset Management: Boston, MA
Nationwide appraisals, remarketing, audits, inspections and more! Over 15-years industry experience and dedicated to deliver personal, prompt, professional services. 
Call Chris @ 508-785-1277. 

Asset Management: Minneapolis, MN
NetSentric provides services to leasing companies: Inspection, Appraisals, Auditing, Warehousing, Repossession, Asset Management, Repairs, Remarketing and Field Service for Electronics and Computing Technology.

Asset Management: Monroe, NC
Recover a greater return on your investment.  We specialize in the woodworking, pallet, sawmill and forestry industries.
Melinda Meier (704)288-1904 x103
Asset Management: Nationwide 
BUYER/LENDER BEWARE. Don't sign anything until Collateral Verifications Inc. goes onsite, knocks on the door and gets the facts.

Seasoned and fair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals.  Call Nassau Asset Management 800-462-7728   

Asset Management: NorthWest Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contact

  Asset Management: Orange City, FL
We help Lessors Liquidate un-wanted Assets valued at $750,000+. It's an effective method of Liquidating Assets such as Jets, Planes, Helicopters, Freighters, etc. 
Eric R. Sanders 
Tel  386-789-9441
Asset Storage/Re-Marketing: Ohio & surrounding states. Providing no cost warehousing, condition reports, digital photos and remarketing of off-lease forklifts & industrial equipment. NAFTA wide dealer network. Email to Asset Management
Melville, New York
Auctions, Appraisals, National Repossessions.  ALL asset classes. 20+ year team works for you. Spend less, Net More… Fast!
Ed Castagna
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South East US- AllState Asset Management 
Recovery, remarketing, inspections. 25 years experience, dedicated to deliver, prompt, professional services. 
Call Brian @ 704-671-2376.
Asset Management: Global
Specializing in Semiconductor and Electronic Test Equipment collateral. Lender services include Consignment Sales, Remarketing, Portfolio Purchases, Inspections, De-installation, Repairs and Warehousing.
Bulldog Asset Management provides recovery and remarketing services with a difference. Contingent repos, free storage and industry experts to remarket.

Asset Management: Portsmouth, NH
Unique approach improves results, keeps costs down. Repossession, Storage, Inspection, Legal, Appraisal, Transport, Remarketing. Free advice and resources.Call 855.EENGINE

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News Briefs----


Euro/Asia Global Slowdown in hiring Equipment Leasing
Q3 2012 Global Equipment Leasing & Finance Hiring Index

Bank scandals: Somebody must go to jail

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Banks, Thrifts lop off 750+ branches in a year
By Tahir Ali and David Hayes, SNL Financial

Orix Corp. to Invest $680 Million in Solar Power Projects

Northern California fire forces evacuation of some 2,000 homes

Drought-shrunken crops fuel ethanol debate

Popeyes Reports Double-Digit Sales Increase in Q2




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The Huddle





Baseball Poem

The Batter


From the book

That Sweet Diamond

by Paul B. Janeczko, Carole Katchen (Illustrator)

He approaches the plate,
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swing or not.

As he paws
the back line of the batter's box,
matching concentration and stare
with the pitcher,
he knows
makes failure likely.

Pitcher rocks.

Batter waits.

Then, in the time it takes
a happy heart to beat,




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This Day in History

     1494 - Columbus returned to Hispaniola. He had confirmed that Jamaica was an island and failed to find a mainland.
    1619- The first Black slaves brought by the Dutch to the colony of Jamestown. The colonists desperately needed workers for the tobacco crop. Europe was becoming “addicted “ to snuff and smoking tobacco in a pipe, inhaling. The Indians had introduced the colonies to tobacco, who were learning to grow and dry it. Europe was “mad” for the smoke and snuff for gentlemen. John Rolfe writes in his diary, “About the last of August came in a dutch man of warre that sold us twenty negars”
By the time of the American Revolution, the English importers alone had brought some 3'000'000 captive Africans to the Americas. After the war, as slave labor was not a crucial element of the Northern economy, most Northern states passed legislation to abolish slavery. However, in the South, the invention of the cotton gin in 1793 sharply increased the need for slave labor, and tension arose between the North and the South as the slave or free status of new states was debated. In 1807, with a self-sustaining population of over four million slaves in the South, some Southern congressmen joined with the North in voting to abolish the African slave trade effective 01 January 1808. Nevertheless, the widespread trade of slaves within the South was not prohibited, and illegal trade of African slaves to Brazil and Cuba continued until the 1860s. By 1865, over twelve million Africans had been shipped across the Atlantic Ocean to the Americas, and some one million of these individuals had died from mistreatment during the voyage. In addition, an estimated three million died in Africa in slave wars and forced marches directly resulting from the Western Hemisphere's demand for African slaves.
    1704- The first underground sewer in Boston was constructed by Francis Thrasher, at his own expense. The move led to municipal regulations governing disposal of refuse and garbage. By 1710, the selectmen of Boston were giving licenses to private citizens for digging up streets for sewer construction. Now you may not think this is a big deal, but think how waste was removed in this time, most often just thrown raw into the streets.
    1741 -- Danish navigator Vitus Jonas Bering, commisioned by Peter the Great of Russia to find land connecting Asia and North America, discovers Alaska as well as the Pacific Coast of America.
    1785- Oliver Hazard Perry, American naval hero, born at South Kingston, RI. Best remembered is his announcement of victory at the Battle of Lake Erie, September 10, 1824: “We have met the enemy, and they are ours.”

    1788 - A small but powerful hurricane inflicted great havoc upon forests along a narrow track from New Jersey to Maine. A similar storm track today would cause extreme disaster in the now populated area.
1794 Major General “Mad” Anthony Wayne routs Indians at Fallen Timbers, Ohio
    1813-African-American Richard Allen chairs the first National Negro Convention in Philadelphia.
    1833- Benjamin Harrison, the 23rd president of the US, born at North Bend, Ohio. He was the grandson of William Henry Harrison, 9th president of the US. His term of office 1889-1893, was preceded and followed by the presidential terms of Grover Cleveland ( who became the 22nd and 24th president ).
    1845-Wilberforce University established in Ohio, 1856
    1866- the newly organized National Labor Union called on Congress to mandate an eight-hour workday.
    1867-Anson Mills, brevet lieutenant colonel in the Army, Fort Bridger, UT, was granted a patent for a new cartridge belt. Moisture had previously affected cartridge belts. Mills invented a woven cartridge belt, and the machinery for making it, which was adopted by both the army and Navy.
    1886 - The town of Indianola, TX, was completely destroyed by a hurricane, and never rebuilt.
    1905 –Jazz trombonist/singer/composer/bandleader Jack Teagarden Birthday
    1910 - The big blow up of forest fires finally came to an end in Idaho. A record dry August fueled 1736 fires which burned three million acres destroying six billion board feet of timber. The fires claimed the lives of 85 persons, 78 of which were fire fighters, and consumed the entire town of Wallace. The smoke spread a third of the way around the world producing some dark days in the U.S. and Canada. The forest fires prompted federal fire protection laws.
    1911- “This message sent around the world,” sent at 7pm from the New York Times and received back at 7:16:30pm, traveling over 28,613 miles via 16 relay stations to become the first telegraph message sent around the world. It was the front page headline and quite an event for its era.
    1912-After the Japanese beetle invaded the East Coast and other diseases were affecting agriculture, Congress passed a quarantine law for plants, directed against dangerous plant diseases and injurious insect pests “ new to or not theretofore widely prevalent or distributed within and through the United States.” Plants that could transmit white-pin, blister rust or potato wart, and plants that might harbor the Mediterranean fruit fly, were immediately affected. Other species before the turn of the century had been affected, such as the “mighty American chestnut oak” that dominated the Northeast was basically extinct by this date.
    1920- The first radio station to be licensed was 8MK, owned by the Detroit News, which began later instituted daily service with the program, “ Tonight’s Dinner.” The call letters were changed later to WWJ.
    1921--Birthday of Jacqueline Susann - U.S. novelist. Her novel Valley of the Dolls (1966, and the movie in 1967) became the world's most popular, best-selling novel to that time - and remains the top selling novel even today. It sold more than 17 million copies. Her other novels were also made into movies and were best sellers. She died at the peak of her success at 53.
    1924-Birthday of Jim Reeves, country music start, born at Galloway, Panola County, TX, and died at Nashville,TN, July 31,1964, when the single-engine plane in which he was traveling crashed in a dense fog. Reeve’s biggest hit was “He’ll Have to Go.” (1959) and he was inducted into he Country Music Hall of Fame in 1967.
    1926-Birthday of trombonist Frank Rosolino, Detroit, MI.
    1927-Birthday of guitarist Jimmy Raney, Louisville, KY.
    1931-Birthday of drummer Frankie Capp,Worcester, MA.
    1940 -- Radar is used for the first time, by the British during the Battle of Britain. Also on this day, in a radio broadcast, Winston Churchill makes his famous homage to the Royal Air Force: "Never in the field of human conflict was so much owed by so many to so few."
    1942-University of Chicago scientist Glen Seaborg and his colleagues first weighed plutonium, the first man made element.
    1942-Birthday of pianist/composer Isaac Hayes, Covington, TN
    1944-Birthday of drummer Terry Clarke, Vancouver, British Columbia.
    1944--HAWK, JOHN D. Medal of Honor
Rank and organization: Sergeant, U.S. Army, Company E, 359th Infantry, 90th Infantry Division. Place and date: Near Chambois, France, 20 August 1944. Entered service at: Bremerton, Wash. Birth: San Francisco, Calif. G.O. No.: 55, 13 July 1945. Citation: He manned a light machinegun on 20 August 1944, near Chambois, France, a key point in the encirclement which created the False Pocket. During an enemy counterattack, his position was menaced by a strong force of tanks and infantry. His fire forced the infantry to withdraw, but an artillery shell knocked out his gun and wounded him in the right thigh. Securing a bazooka, he and another man stalked the tanks and forced them to retire to a wooded section. In the lull which followed, Sgt. Hawk reorganized 2 machinegun squads and, in the face of intense enemy fire, directed the assembly of 1 workable weapon from 2 damaged guns. When another enemy assault developed, he was forced to pull back from the pressure of spearheading armor. Two of our tank destroyers were brought up. Their shots were ineffective because of the terrain until Sgt. Hawk, despite his wound, boldly climbed to an exposed position on a knoll where, unmoved by fusillades from the enemy, he became a human aiming stake for the destroyers. Realizing that his shouted fire directions could not be heard above the noise of battle, he ran back to the destroyers through a concentration of bullets and shrapnel to correct the range. He returned to his exposed position, repeating this performance until 2 of the tanks were knocked out and a third driven off. Still at great risk, he continued to direct the destroyers' fire into the Germans' wooded position until the enemy came out and surrendered. Sgt. Hawk's fearless initiative and heroic conduct, even while suffering from a painful wound, was in large measure responsible for crushing 2 desperate attempts of the enemy to escape from the False Picket and for taking more than 500 prisoners.
    1945- Tommy Brown of the Brooklyn Dodgers became the youngest player in major league history to hit a home run when he connected against pitcher Preacher Roe of the Pittsburgh Pirates. Brown was 17 years, eight months and 14 days old.
    1945-Woody Herman Band records “Bijou.”
    1945- Dodger Tommy Brown becomes the youngest player (17 years, 8 months and 14 days) in major league history to hit a home run. 'Buckshot', who started his career as a 16 year-old high school student, connects off 30-year old Pirates' southpaw Preacher Roe.The Phillies are rained out for an unprecedented tenth consecutive time.
    1946- Prior to the start of the game against the Senators in Washington, using the U.S. Army's Sky Screen Chronograph, Bob Feller's fastball is clocked at 98.6 miles-per-hour breaking Yankees' hurler Donald's 1939 speed record of 94.7 mph.Grover Alexander is reached for nine straight hits and six runs as the Cubs defeat Phillies,10-4.
    1948 - Robert Plant of Led Zeppelin is born in West Bromwich, England. Five of the group's albums reach No. 1 on Billboard's pop album chart. In the mid-80s Plant organizes the Honeydrippers, featuring rock legends Jimmy Page, Jeff Beck and Nile Rodgers. The ensemble has a No. 3 hit in 1985 with ``Sea of Love.''
    1948- The largest crowd (78,382) ever to attend a night game sees Satchel Paige become the fourth consecutive Indian to throw a shutout. The ageless wonder joins Gene Bearden, Sam Zoldak and Bob Lemon in blanking the opposition.
    1949--Birthday of American composer Leonard Lehrman, born Ft. Riley,KS.
160 works, including 10 operas, among them completions of 20 works by Marc Blitzstein, most notably his operas "Idiots First" and "Sacco and Vanzetti". Works published by Theodore Presser, Carl Fischer, and (Blitzstein completions) Boosey & Hawkes, recorded by Opus One, Premier, Capstone, and Original Cast Recordings. 
    1954-Meteorologist/chef/author bon vivant Al Roker born Brooklyn, NY.
    1955---Top Hits
Rock Around the Clock - Bill Haley & His Comets
Hard to Get - Gisele MacKenzie
The Yellow Rose of Texas - Mitch Miller
I Don’t Care - Webb Pierce
    1960-Birthday of American Composer Thomas Dempster, born Sandusky, MI.
    1960- Connie Francis began work on her first movie, "Where the Boys Are." She also starred in the sequel, "When the Boys Meet the Girls." 
    1960- Connie Francis began work on her first movie, "Where the Boys Are." She also starred in the sequel, "When the Boys Meet the Girls." Her first movie her first movie, "Where The Boys Are," in Ft. Lauderdale, Florida is considered the first college teen comedy to really explore the sex lives of its characters, it served as the inspiration for countless "spring break" movies, as well as the homage/parody Grease.
    1963---Top Hits
Fingertips - Pt 2 - Little Stevie Wonder
Blowin’ in the Wind - Peter, Paul & Mary
Judy’s Turn to Cry - Lesley Gore
Ring of Fire - Johnny Cash
    1964-- US President Lyndon B. Johnson signs the anti-poverty Economic Opportunity Act (totaling nearly $1 billion)
    1966-The thoroughbred Buckpasser, owned by Ogden Phipps, won the Travers Stakes at Saratoga to become the first 3-year-0ld to pass the $1 million mark in career earnings.
    1966--The Temptations' "Beauty Is Only Skin Deep" is released.
    1967-Birthday of American Composer Amos Elkana, born Boston, MA.
    1967-the New York Times reported on a new noise-reduction system for album and tape recording developed by R. and D.W. Dolby. First used by a subsidiary of Elektra Records, the Dolby noise reduction system became the industry standard.
Rank and organization: Staff Sergeant, U.S. Army, Company A, 2d Battalion, 27th Infantry, 25th Infantry Division. place and date: Tay Ninh province, Republic of Vietnam, 20 August 1968. Entered service at: Holland, Mich. Born: 25 June 1942, Holland, Mich. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. S/Sgt. (then Sgt.) Lambers distinguished himself in action while serving with the 3d platoon, Company A. The unit had established a night defensive position astride a suspected enemy infiltration route, when it was attacked by an estimated Viet Cong battalion. During the initial enemy onslaught, the platoon leader fell seriously wounded and S/Sgt. Lambers assumed command of the platoon. Disregarding the intense enemy fire, S/Sgt. Lambers left his covered position, secured the platoon radio and moved to the command post to direct the defense. When his radio became inoperative due to enemy action, S/Sgt. Lambers crossed the fire swept position to secure the 90mm recoilless rifle crew's radio in order to re-establish communications. Upon discovering that the 90mm recoilless rifle was not functioning, S/Sgt. Lambers assisted in the repair of the weapon and directed canister fire at point-blank range against the attacking enemy who had breached the defensive wire of the position. When the weapon was knocked out by enemy fire, he single-handedly repulsed a penetration of the position by detonating claymore mines and throwing grenades into the midst of the attackers, killing 4 more of the Viet Cong with well aimed hand grenades. S/Sgt. Lambers maintained command of the platoon elements by moving from position to position under the hail of enemy fire, providing assistance where the assault was the heaviest and by his outstanding example inspiring his men to the utmost efforts of courage. He displayed great skill and valor throughout the 5-hour battle by personally directing artillery and helicopter fire, placing them at times within 5 meters of the defensive position. He repeatedly exposed himself to hostile fire at great risk to his own life in order to redistribute ammunition and to care for seriously wounded comrades and to move them to sheltered positions. S/Sgt. Lambers' superb leadership, professional skill and magnificent courage saved the lives of his comrades, resulted in the virtual annihilation of a vastly superior enemy force and were largely instrumental in thwarting an enemy offensive against Tay Ninh City. His gallantry at the risk of his life is in keeping with the highest traditions of the military service and reflects great credit upon himself, his unit, and the U.S. Army.
    1968- Bobby Darin, still traumatized by the recent assassination of his good friend, Senator Robert Kennedy, sells off his music publishing and production company, TM Music, for one million dollars.
    1969- The four members of the Beatles gather in the Abbey Road studios in London for the last time as they complete work on "I Want You (She's So Heavy)" and ostensibly finalize the track order and mastering of their last recorded album, Abbey Road. (Three of the Beatles would later be present in the studio to overdub salvaged tracks from the Let It Be sessions.)
    1969 - 'Never say die' Camille let loose a cloudburst in Virginia resulting in flash floods and landslides which killed 151 persons and cause 140 million dollars damage. Massies Hill VA received 27 inches of rain.
    1969 - Andy Williams received a gold record for the album "Happy Heart" on Columbia Records. 
    1970-- Creedence Clearwater Revival's LP Cosmo's Factory hits #1
    1971---Top Hits
How Can You Mend a Broken Heart - The Bee Gees
Mr. Big Stuff - Jean Knight
Take Me Home, Country Roads - John Denver
I’m Just Me - Charley Pride
    1971- Texas Instruments, Dallas, Texas introduced the first electronic pocket calculator. It weighed about 2.5 pounds and cost $149. It could add, subtract, multiply, and divide, displaying the results in an LED ( light-emitting diode) window.
    1973-The Rolling Stones release "Angie."
    1974 -- House of Representatives votes 412-3 to recommend three articles of impeachment against President Richard M. Nixon. The first charges him with taking part in a criminal conspiracy to obstruct justice in the Watergate cover-up; the second charges he "repeatedly" failed to carry out his constitutional oath in a series of alleged abuses of power; & the third accuses him of unconstiutional defiance of committee subpoenas.
    1974 - No. 1 Billboard Pop Hit: ``(You're) Having My Baby,'' Paul Anka with Odia Coates. Anka last hit No. 1 with ``Lonely Boy'' in 1959, marking the longest gap between top singles
    1976-Gordon Lightfoot's "The Wreck of the Edmund Fitzgerald," about an ore carrier which sank on Lake Superior, was released as a single. The song, from the album "Summertime Dream," made it to number two on the Billboard Hot 100
    1977 - The song "Best of My Love", by the Emotions, topped the pop charts. It had a number one run of four weeks.
    1978-After 37 consecutive years, the Stan Kenton Band folds. “Peanut Vendor.”
    1979---Top Hits
Good Times - Chic
My Sharona - The Knack
The Main Event/Fight - Barbra Streisand
Coca Cola Cowboy - Mel Tillis
    1985 - No. 1 Billboard Pop Hit: ``Power of Love,'' Huey Lewis & the News. The million-selling single, which is featured in the hit film ``Back to the Future,'' is the band's first No. 1 song.
    1986 - U.S. Census Bureau officials reported that the U.S. population stood at 240,468,000 and the median age reached an all-time high of 31-1/2 years. 
    1986 - The temperature at San Antonio, TX, soared to an all-time record high of 108 degrees.
    1987---Top Hits
I Still Haven’t Found What I’m Looking For - U2
Who’s That Girl - Madonna
Luka - Suzanne Vega
A Long Line of Love - Michael Martin Murphey.
    1987 - Half a dozen cities in the Central Plains Region reported record high temperatures for the date, including Pueblo CO with a reading of 102 degrees, and Goodland KS with a high of 104 degrees. Hill City KS reached 106 degrees.
    1987-- Lindsey Buckingham, who had helped turn Fleetwood Mac into one of the biggest-selling groups of the Seventies, leaves the group after refusing to tour behind its latest album, Tango in the Night.
    1987-- Alabama dedicates a section of its Interstate 65 highway as the Hank Williams Memorial Lost Highway, a reference to one of his best-known songs. The fifty-mile stretch begins near his hometown of Georgiana and runs north to Montgomery, where he is buried.
    1988 - Raleigh, NC, reported a record hot temperature reading of 103 degrees. Afternoon thunderstorms in Oklahoma produced wind gusts to 75 mph in southern Pittsburgh County. Thunderstorms in Indiana produced 4.50 inches of rain at Morgantown.
    1989 - Early morning thunderstorms deluged southeastern Delaware with six to ten inches of rain in four to six hours, with local reports of 13 to 20 inches of rain. Twenty-six major roads were closed or damaged, and fourteen bridges were washed out. Flooding caused nearly four million dollars damage to local businesses.
    1989- About 20,000 people ended a week-long 20th anniversary celebration of the Woodstock Festival at the festival's original site near Bethel, New York. They left behind a mountain of mud and empty beer cans. The unsanctioned gathering had only one serious incident - a stabbing. Folksinger Melanie was the only Woodstock veteran to show up. She performed from a makeshift stage. 
    1993---Top Hits
Can t Help Falling In Love (From "Sliver")- UB40 
Whoomp! (There It Is)- Tag Team
I m Gonna Be (500 Miles)- The Proclaimers 
    1996- Just ten days after Microsoft shipped its first Web browser, Netscape released a letter they had sent to the Justice Department earlier in the month alleging that Microsoft had sought to gain an unfair advantage by offering computer makers and Internet service providers improper payments and other incentives to use Internet Explorer instead of Netscape Navigator. Microsoft denied the allegations, but the question of Microsoft's tactics in promoting Internet Explorer came under heavy scrutiny in the Justice Department's 1998 antitrust suit against Microsoft. 
    1996--Carlos Santana receives a star on Hollywood's Walk Of Fame.
    1998- At Shea Stadium, Cardinal first baseman Mark McGwire becomes the first player in major league history to hit 50 home runs in three consecutive seasons. Mac's seventh inning solo shot helps to defeat the Mets, 2-0.
    2000 - Tiger Woods won the 82nd PGA Championship in Louisville, Kentucky. Woods birdied the last two holes in regulation and won the championship in a playoff over Bob May, becoming the first player since Ben Hogan in 1953 to win three majors (Masters, U.S. Open, British Open) in one year. He was the first player to win back-to-back PGA championships since Denny Shute in 1936 and 1937. 
    2000 -The winningest pitcher in franchise history is honored by the Yankees during Whitey Ford Day ceremonies at Yankee Stadium. The crafty lefty holds the team record for victories (236) , innings pitched (3,170 1/3), strikeouts (1,956) and shutouts (45).
    2002 -A judge issues a temporary restraining order preventing the sale of Barry Bonds' 600th career home run ball hit into the Pacific Bell Park stands on August 9. Jay Arsenault, who allegedly promised friends after being given a game ticket to split any monetary gains if he caught the historic baseball, has been ordered to appear in court for hearing on September 5 along with the prized souvenir.
    2002---Top Hits
Dilemma- Nelly Featuring Kelly Rowland
Hot In Herre- Nelly
Complicated- Avril Lavigne
Just A Friend 2002- Mario
    2005- Using the equivalent of a 98-miles-per-hour major league fastball, 12-year old Kalen Pimentel ties a Little League World Series record for strikeouts in a six-inning game. The 12-year old from Rancho Buena Vista strikes out 18 Owensboro batters (all of the recorded outs) as his team coasts to 7-2 victory in the pool play of the tournament.
    2008 -- Umpires sign an agreement which will allow major league baseball to start using instant replay to help determine boundary calls, such as determining fair or foul fly balls and difficult home run rulings. No exact date has been set for the start of using replays, but installation of the necessary equipment has been taking place in ballparks, with the hope of starting later this month.





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- Lessor Escapes NY Evergreen Clause Class Action
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   Lease Project Pain Part of Larger Frustrations
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- New Aggregate Funding Process---and it connects!
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    as it reports lower 2nd Q earnings
- 10 Places to Look for Leasing Business
- New Bank Leasing Companies and others, too
- Quest for Volume and Market Perceptions
   Driving Up Leasing Hiring Demand in Q2
- 30 Days---No Response!
   ---re: Marlin Bulletin Board Complaint
- "Pre-Funding of Leasing" ruling
   By Scott D. Chait, Esq.
- Bulletin Board Complaint
   Integrity Financial Groups, Murray, Utah
- Exchange Bank Not for Sale
   ---but their TARP loan is
- Ten Lawyers Against Evergreen Clause Abuse
- Republic Bank out of leasing?
Hudson Juggles Original Investment to $1B in Assets
- 2012's Best Franchise Deals
BBB Ratings, July, 2012
Alexa Rating---Leasing News #1
Dan McKew to head up Capital One Commercial Lending
Ladco Leasing/Elavon Fined $418,601
- Top Leasing Web Sites---Updated
- Leasing Icon Sudhir Amembal Gets Award
   --Since 1993, Chairman World Leasing Convention
- Paul Weiss, Back in the Saddle
   Re-Joins Leasing News Advisory Board
FinPac expands its "App Only" Program to $75k
- Fin Pac Now Accepting Leases in Canada
Marlin Amends Wells Fargo Capital Line
- John Otto's HL Leasing Ponzi Scheme Update
- IFC Credit--Rudy Trebels June 2012 Update
- Sheldon Player June, 2012 Up-Date

- Operation Lease Fleece--Up-Date June 2012
- Banks Continuing to Lend and also Improve Net income
- Costco to Compete with Community Banks
- Ten Most Expensive Cars Driven by Top Leasing Execs
- Doing Business with Different Generations
- Yes, Virginia, Leasing is Regulated!
- Leasing News Complaint Bulletin Board
   Newport Financial Partners, Newport Beach, California
- Founder of Chase Industries Files Bankruptcy
- Nine Lawyers Against Evergreen Clause Abuse
- Why Leasing News is Different
- Resource America/LEAF Moving in Different Directions

Marlin Business Services, Mount Laurel, New Jersey
  Bulletin Board Complaint
- 15 Hottest Leasing Equipment Sectors
- Future of Mobile Devices
Where Millionaires Live in America
- Robert Fine of NorVergence Fame at Signature Bank
- What Happened to Hillcrest Bank Leasing?
- SBA Loans to Franchises
- 10th Anniversary-Two Buck Chuck Still Selling 5 Million Cases
- Charles Schwartz and Allied Health
- "Cigarettes Cheaper" Fraud Sentencing
- Mass Fax Class Action Case against Balboa Capita
- Why I became a CLP
- Puget Sound Leasing/First Sound Bank--It's a Go!
- Brican America---End of the Year 2011 Update
- Copier Wars---It's more than the lease payment
    by Christopher Menkin
- The Non-Broker Trend and Growth of "Lease Portals"
- 5 years+ C & J Leasing Clarence Rice for Embezzlement"
- Results Are In---
   "Application Only" versus Financial Statements?
- A California Leasing Gypsy Arrested by Costa Mesa Police
- Survey of Evergreen Clauses
- Responses to Working with a Smaller Bank Question
- Leasing Gypsies
- Top Ten Cities with the Highest Credit Scores
- OneSource Develops Business License Software
- Talk About Chutzpa, Fanghella has more than Trump
- License Up-Date for Leasing in United States
- Loan/Lease Statute Up-Date
- Three Class Action Suits re: Brican America
- Verifying Tax Returns
- Starting a Leasing Company-Four Parts
   by Mr. Terry Winders, CLP
- Free Mobile Wine Program
- Special Report: Part I
   Could Church Kiosks, Royal Link Carts, NorVergence results been avoided?

   The use of “Equipment Finance Agreements”
- Special Report: Part II
    Bank of the West

   Equipment Lease Agreement (EFA)
- California License Web Addresses
- Settlement Costs Vs. Litigation Costs