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

kitmenkin@leasingnews.org
   

 

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The right candidate will have 5+ years of sales experience in the equipment finance industry, current relationships and opportunities, and experience originating, building, and managing vendor programs. For more information, and to find out if Quail is a good fit for you,
click here.

www.quailfinancialsolutions.com


Monday, August 31, 2015



Today's Equipment Leasing Headlines

Archives: August 31, 2000---Manifest Sold to US Bancorp 
  Rumored for over a month, and confirmed by Fax
Top Stories  August 24 - August 28
  (Opened Most by Readers)
California SB 197 --- Do Pass as Amended
  From Committee (Ayes 10. Noes 0)
Wells Fargo Bank Suit Against Broker Prevails
  by Tom McCurnin, Leasing News Legal Editor
“Do I Give References Prior to an Offer”
Career Crossroad---By Emily Fitzpatrick/RII
Leasing Industry Ads---Help Wanted
Ascentium Capital/Quail Financial Solutions
My Answer to Why a “Help Wanted” Ad in Leasing News
  ---Attract Those with a Job
   by Christopher Menkin
Leasing 102 by Mr. Terry Winders, CLFP
  Planning for Next Year
Streakwave Now Shipping Drones
  As Low as $799 with Professional 4k Camera
Orion Hosts 92 Influential Industry Leaders
   Speakers/Lenders
Moody’s Warns California’s residential electric rate reform
“…could increase contract risk in solar securitizations.”
Italian Greyhound/Whippet Mix
Beverly Hills, California  Adopt-a-Dog
Classified Ads
   Investigators
Leasing News Classified Ads
   Online
News Briefs---
Financial leasing gets a boost in China
 30 Major/3000 Smaller Leasing Firms
Farm profits to fall second consecutive year
  expected to decline 36 percent to $58.3 billion
MDOT to stop paying for idle railcars 
  That's $3,000 a Day; Invested $12 Million Since 2010
Rave review sends Tesla shares accelerating
  Stock goes up to $248.48
Optimistic About Inflation, Stanley Fischer Suggests
    That Fed Will Stick to Plan on Rates
Seattle company pulls in $33M to create long-lasting
   metal using ‘nano-layering’
Owned by Union, Amalgamated Bank
   Gives Lift to the Left
EMV Credit Cards: Beware Misleading Equipment Sales Tactics
October 1, 2015 fraud-liability rule changes and misleading sales tactics

Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months

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[headlines]

--------------------------------------------------------------


Archives: August 31, 2000---Manifest Sold to US Bancorp
Rumored for over a month, and confirmed

From Manifest Spokesman, fax is true:

" It will be business as usual...same place, same staff, same portfolio, but more money than Schwan could commit to our growth---expect better things from us now as we grow in this exciting new leasing world."

Dear Valued Customer,

It is with great excitement that we announce U.S. Bancorp Leasing and Financial has acquired Lyon Financial Services (LFS) and all of its

business units, including The Manifest Group, from Schwan's Sales Enterprises. The anticipated close date is September 28, 2000.

U.S. Bancorp, headquartered in Minneapolis, MN, is the 10" largest bank holding company in the United States with $86 billion in assets. U.S. Bancorp along with U.S. Bank and other subsidiaries is a world class financial institution serving millions of customers throughout the West and Midwest. Lyon Financial Services will merge with their already existing U.S. Bancorp Leasing & Financial; the 5th largest bank affiliated leasing company in the United States...

Troy Molitor, Brian Bjella, Brad Peterson

General Manager Extension 2002
Director of Sales - East Extension 2914
Director of Sales - West Extension 2911

TODAY



Troy Molitor (with wife Kim)
Financial Advisor at Edward Jones
Sartell, Minnesota
https://www.linkedin.com/pub/troy-molitor/5/1aa/b


Brian Bjella
Senior Vice President
General Manager
GreatAmerica Financial Services
https://www.linkedin.com/pub/brian-bjella/22/279/591


Brad Peterson
Managing Member
Channel Partners, LLC
https://www.linkedin.com/pub/brad-peterson/44/3b0/919

 

 

[headlines]
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Top Stories  August 24 - August 28
(Opened Most by Readers)

(1) Wow! California SB 197 Major Changes!
  Looks Like a Very Smart Leasing Attorney Got Involved
          by Christopher Menkin
http://leasingnews.org/archives/Aug2015/8_24.htm#wow

(2) Leasing Company Stock---Thursday, 4pm
       Marlin Business Service Takes Largest Hit
http://leasingnews.org/archives/Aug2015/8_28.htm#stock

(3) Leasing News Bulletin Board Update
  Hawkins Counter Sues $50,000 Judgment
    From Complaint Posted November 28, 2012 (1)
http://leasingnews.org/archives/Aug2015/8_24.htm#bbc

(4) Top Five Leasing Company Web Sites—
   in North America
http://leasingnews.org/archives/Aug2015/8_26.htm#topfive

(5) New Hires---Promotions in the Leasing Business
     and Related Industries
http://leasingnews.org/archives/Aug2015/8_28.htm#hires

(6) Roundup on Stock Market Rollercoaster on Leasing Business
  Executives around United States, Canada, and ZRG Partners
http://leasingnews.org/archives/Aug2015/8_26.htm#round

(7) Archives: August 28, 2003 - Obituary
  Louis B. Funston (Funkenstein) August 21, 1945---August 25, 2003
        by Christopher Menkin
http://leasingnews.org/archives/Aug2015/8_28.htm#archives

(Tie) (8) Conferences --Update
Dwight Galloway and Hugh Swandel to Report for Leasing News
http://leasingnews.org/archives/Aug2015/8_28.htm#conferences

(Tie) (8) Leasing 102 by Mr. Terry Winders, CLP
       "Personal Guarantees"
http://leasingnews.org/archives/Aug2015/8_24.htm#personal

(Tie) (8) Navitas Lease Corp. Makes Inc. Magazine 5000
    CFO reports “this year is shaping up to be an exciting
http://leasingnews.org/archives/Aug2015/8_26.htm#navitas

(11) Cartoon—Certain Indicators
http://leasingnews.org/archives/Aug2015/8_26.htm#navitas

(12) Hotel Wi-Fi: Weigh the risk
   Also Applies to all Public Wi-Fi
http://leasingnews.org/archives/Aug2015/8_24.htm#hotel

 



[headlines]
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California SB 197 --- Do Pass as Amended
From Committee (Ayes 10, Noes 0)

Current bill is in an active "Floor Process," passed by the Senate Committee, amended accepted, and now going back for a state Assembly vote.

This concerns a major change in California, which will affect funders and those without a California Lender's License on loans and capital leases both inside California and outside California, anyone who does commercial lending in the state for a commission.

Briefly, it requires all non-licensed referrers as individuals not to receive a commission for a loan (or capital lease) in California, if they assist in the preparation, negotiation, and host of professional actions, both the funder and individual will be in violation of the law and subject to penalties by the Commissioner.  While the purpose it to reward non-professionals, it will strengthen the law regarding unlicensed brokers for accepting commissions for transactions in the State of California, as well as now bringing in the funders for also violating the statute. It may also require all funders that are not
banks or licensed financial institutions to also be licensed to do loans (as well as capital leases) in the State of California.

A full story was in last week's edition which gives the details:
http://leasingnews.org/archives/Aug2015/8_24.htm#wow

Current Amended SB 197
http://leginfo.legislature.ca.gov/faces/
billVersionsCompareClient.xhtml?bill_id=201520160SB197

 



[headlines]
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Wells Fargo Bank Suit Against Broker Prevails
by Tom McCurnin
Leasing News Legal Editor

Broker’s Direct Involvement with Signatures and Funding
Made It Complicit in the Fraud 

By Tom McCurnin

Wells Fargo Bank, N.A. v. Chesapeake Fin. Servs., 2013 U.S. Dist. LEXIS 101067, 2013 WL 3805064 (D. Md. July 18, 2013)

Here’s a classic identity theft fraud perpetrated on Wells Fargo Bank, with some passive assistance by the broker. 

Contrasting the case featured in Leasing News earlier this week, in this case, the brokers were tagged for their assignment, due mainly to their passive complicity in the fraud.  The facts follow.

The cast of characters consists of:

• The Conmen - Michael Vorce (“Vorce”) and James Jett (“Jett”)
• The Boat – “The Faithful,” a 56-foot Viking yacht
• The Boat Owner/Seller - JRP Marine LLC ("JRP Marine")
• The Borrower - Victor Cribb Jr. (“Cribb”)
• The Lender - Wells Fargo Dealer Services (“Wells Fargo”)
• The Loan Broker - Chesapeake Financial Services, Inc. (“Chesapeake”)

In 2007, Wells Fargo entered into the “Marine Operating Agreement” to "consolidate the number of loan brokers sending it business," which governed the obligations of Chesapeake and Wells Fargo in relation brokered loans. 

In 2008, The Conmen submitted a loan application for $855,000 to Chesapeake, via the Internet, an application in Cribb’s name to finance the purchase of the boat, The Faithful, at a price of $1,795,000. The loan application represented that Cribb was 51-years-old and resided in West Palm Beach, Florida. 

The fraudulent Yacht Purchase and Sale Agreement, purportedly between Cribb and JRP Marine c/o Roy Pence, provided for the sale of the Faithful to Cribb for $1,795,000 and required that "the sum of five-hundred-thousand-dollars USD 500,000.00 of the SELLING PRICE shall be paid as a deposit upon execution of this agreement." Of course, there never was any such payment.

After receiving the loan application, Chesapeake pulled Cribb’s credit and contacted one of the Conmen (posing as Cribb) and asked him to provide tax returns and a personal financial statement.  The Conmen then fabricated those documents and forwarded them to Chesapeake, which faxed the Credit Package to Wells Fargo. 

Wells Fargo reviewed Cribb's Credit Package and “flagged” the application indicating possible fraud.  The Bank used Zillow.com to search for the address, but the website could not locate it.  In addition, Cribb's birth year as 1915, noted the social security number was issued prior to 1951, and showed Cribb had an American Express card in 1965. However, the Credit Package submitted by Chesapeake showed Cribb's birth year as 1956. 

Wells Fargo conditionally approved the loan application requesting that Cribb produce a utility bill to verify the address, forward bank account statements, and provide the Bank with a boat survey and purchase agreement."  After receiving the documents requested from Chesapeake, Wells Fargo approved the loan and informed Chesapeake that it could begin the boat documentation process.

Chesapeake sent the promissory note to a Chicago office address provided by the Conmen, and the Conmen forged signature for Cribb and returned them to Chesapeake. Chesapeake then received a fax purportedly from Roy Pence instructing Chesapeake to wire the proceeds of the boat loan to a specified E*TRADE bank account in Chicago.  Thereafter, Wells Fargo funded the loan by wiring $884,900 to Chesapeake's bank account.

Chesapeake wired the loan proceeds to the seller’s E*TRADE bank account in Chicago as instructed by The Conmen posing as the seller, Roy Pence.

The Bank filed suit against the Broker for breach of contract and negligence. 

The applicable broker agreement contained the following language

“As to each Obligation submitted to Wells Fargo, Chesapeake, at the time of submission, represents and warrants that:
All information shown on the Obligation and on all other documents submitted in connection therewith are true and correct to the best of Chesapeake’s knowledge and belief,…the Obligations, which are delivered to Wells Fargo, represent the complete agreement concerning the loan and are legally enforceable according to their terms, and the persons executing the documents, whether Maker, guarantor, or otherwise, were legally competent to do so.”

Although Chesapeake argued that the “to the best of knowledge” qualifier modified the entire sentence, the court held otherwise, requiring Chesapeake to repurchase the agreement.  The Bank countered with a negligence claim, which alleged that Chesapeake was negligent by failing to verify the existence of sale proceeds beyond the loan amount from the seller, failure to verify the down payment to be made by the “buyer,” disbursing the loan proceeds to a third non-sale party without notifying Wells Fargo, failure to properly confirm the identity of the buyer before allowing him to apply for a loan with Wells Fargo, failure to properly confirm the identity of the seller before disbursing loan proceeds; and failure to identify indicia of fraud, like the absence of a selling broker or buyer's broker identified in the sales contract.

Ultimately, the Court found in favor of Wells Fargo Bank.

What are the lessons here for equipment lessors?

First, for the brokers, if you take responsibility for signatures and funding, then you should expect to be legally responsible if the deal goes bad.  So if you must supervise signatures, equipment delivery and funding of the invoice, then take precautions, like a bank notary, site inspection, and proof of the account ownership before wiring funds.

Second, for the funders, simply because you have a broker potentially on the hook, doesn’t mean that the language of the broker agreement can’t be very clear.  Any such repurchase agreement should be clear, so as to spell out exactly what the broker’s responsibilities are.  Moreover, because the Bank red-flagged the application, I was surprised that this fact was not conveyed to the broker, and more documentation was not required.

Third, for the brokers, read what you sign.  This case might have had a different result had the broker understood its responsibilities.  The “fire and forget” mentality exercised by this broker is simply inconsistent with its duties. 

The bottom line to this case is that the broker simply didn’t read the broker agreement and didn’t understand its duties.  Had the broker read the agreement and understood its duties, it is my earnest belief that the result would have been different. 

Wells Fargo Bank v. Cheaspeake Fin. Servs.
http://www.leasingnews.org/PDF/WellsFargoChesapeake2015.Pdf

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com
Previous Tom McCurnin Articles:
http://www.leasingnews.org

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

[headlines]
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“Do I Give References Prior to an Offer”
Career Crossroad---By Emily Fitzpatrick/RII

 

Q: Do I have to give references prior to an offer?

A: While checking references is typically one of the last steps within the interview process, all formal applications require that you provide at least three business references. Not filling out this information will raise a red flag; do not write, “Available upon job offer” or “available at a later time”

You should feel comfortable enough with your references to provide at any time requested by the potential employer. Obviously, if employed, do NOT include references from your current employer!

Before ANY interview, be proactive and choose your references carefully (select at least six to seven career-oriented individuals to include at least three direct supervisors or C-level executives who worked with you) and then reach out to these individuals. First, request their permission to do so, try to get an idea if they will provide positive feedback, and thank them for their time. If you get a “gut” feeling that one of the individuals will not present you in a favorable light, then try a different reference (which is why we suggest selecting six to seven).

Take it further, prior to any job search, why not request reference letters from previous employers, colleagues, and clients. Provide these at the time you submit your resume or during your first in person interview.   

Be prepared to provide the name, current job title and employer, relationship to the reference (how long/where you worked together), work/cell numbers and email addresses of each reference; make sure email addresses are correct by sending a ‘test’ email. Ask the reference preferred mode of contact and the best time for them to take 15 minutes out of their day. 

“ … Employer best practices include asking for permission prior to talking to anyone about you … most companies notify candidates that references will be checked, and you may be asked to sign a consent form ... some states have laws which regulate consent requirements and what an employer can ask about former employees …  some of these laws provide employer protections and immunity from liability for disclosing employee information … however; in many states, the company doesn’t need your permission unless you have asked them not to contact your current employer …” 

Provide only previous employer references. If a company requests CURRENT employer references, then you must write, “Available upon job offer 

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html


[headlines]
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Leasing Industry Help Wanted



Join Our Incredible Sales Team

The right candidate will have 5+ years of sales experience in the equipment finance industry, current relationships and opportunities, and experience originating, building, and managing vendor programs. For more information, and to find out if Quail is a good fit for you,
click here.

www.quailfinancialsolutions.com



For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees.

[headlines]
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My Answer to Why a “Help Wanted” Ad in Leasing News
---Attract Those with a Job

by Christopher Menkin

Our competitors still use a "classified ad" section, which basically is the company's full job description. It often is "hidden," meaning you have
to search for the section.

This does not attract attention because you must go to the classified ad site to find the jobs listed. The advertiser is basically missing those who are employed, not actively looking for a job.  This is the group the advertiser should be looking for as a primary target.

There are at least one hundred websites that offer the same approach, and work great for general jobs, but not the leasing and finance niche, especially for those already employed who may want to improve their position.
http://www.leasingnews.org/Classified/Posting_sites.htm
http://www.leasingnews.org/Classified/open_funder.html

Leasing News puts a "help wanted" on top of the "masthead" so it is the first thing that a reader sees when they open the news edition or go to the website. The ad is changed in each news edition. It is designed to be a "display ad," not a "classified ad."

In addition to the masthead position, the "help wanted" ad also appears in the "news briefs" section, the second most-read section, and it is rotated in each news edition. It is not hidden. It is clearly visible.

The full section of "help wanted ads” also appears in each news edition, in each edition, as well as appears on the web site.  It also is not “hidden.”

The idea of the ad is to draw attention, and have the reader interested in what the company offers from the advertisement rather than a "job description."

Most ads then direct the reader to their website for a full job description, if interested, or to a separate flyer.  The main idea is to get the reader to make an inquiry.

Oh, yes, Alexa states Leasing News is read eight times more than our competitors, and they stay on our website longer to read industry news stories. The “help wanted” ad does not hide.

      kitmenkin@leasingnews.org

 

[headlines]
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(Terry retired January 1, 2015.  To honor him and his many years of writing for readers of Leasing News, is repeating several of his columns that are still meaningful today. Here is September 06, 2011, with minor update.)

Planning for Next Year


September is the month when your marketing plan for next year should begin to take shape. The most successful leasing companies have been those that understood their limitations and created a plan that used the available capital wisely.

It’s time to think through what markets or industries you plan to solicit, where you want to be in 2016, set the goals and parameters, then get down to the dirty work of putting your budget and your business plan into the computer.

But first, you want to decide where you want to be. Begging for new business, holding onto old business, surviving and/or growing.

If you don’t have a plan, that is where you are going to wind up being: nowhere. In my opinion, as I see from the seminars, workshops, legal expertise, too many lessors have become generalists and fail to establish a foothold in a market that leads to a predictable flow of business. They also attack too many markets and only get the leavings or an occasional deal at a great expense.

Don’t wait until after Christmas. Getting a head start on next year means starting NOW to develop your thoughts.

Here are a few questions to be considered--- so you can direct your efforts instead of just letting it happen. You may have another way, but to jump start, please consider:

1. What was this year’s average size deal?
2. What five types of equipment where you most successful in leasing?
3. What volume can you attribute to each type of lease?
4. What is your approval rate vs. your turn down rate?
5. If you divide all expenses by the number of done deals how much does each deal cost?
6. What size deal do you need to break even with all expenses?
7. How do you define your market territory?
8. What type of solicitation material is the most effective in your market?
9. What do you need to improve on?
10. What is a responsible goal?

If you have sales personnel, now is a good time to request their thoughts n next year’s volume. Too many leasing companies hand down next year’s goals without considering the capabilities of their sales staff. Their input could help direct your business plan if you give them suggested markets and hoped for margins.

In addition, just don’t limit your inquiry to your sales staff. Ask accounting, ask collections, ask legal, and ask everyone, even the janitor, if you know them by first name. You don’t know where you will get information to create a new idea.

I have always recommended sale staffs should also set weekly and monthly goals. Any goal over monthly is of no value. I do, however, like the charts they use in retail: “Beat yesterday” which shows previous numbers, too.
In addition to volume, they should have margin goals and types of leasing goals. If you have a commission plan try and tie it to margin, credit quality, and term of lease. The goals of the sales staff should help drive the goals of the company. However, remember that the company goals should not exceed 75% of the sales goal set by the sales staff. After all they are always too positive about their own abilities.

Expenses need to be tied to revenues so a budget must have certain levels of achievement prior to accepting variable expenses. This means allowing everyone to view weekly and monthly results so as you reach some goals and miss others the staff is in tune with the companies’ direction.

What is your reward both personally and for the staff if a yearly goal is reached? The carrot must be there to encourage performance. The more the company plays as a team the stronger the performance.

Some tightwads do not understand this concept and there is a revolving door for employees and the company suffers and sometimes goes away. Don’t assume because the market has a lot of salesmen available that you can replace yours so easily. What you might get is worse than what you gave away.

A budget and a business plan is an essential tool to understand how a leasing activity should function. It does not make any difference if the activity is one broker or over 1,000 employees the direction of the activity needs to be carefully thought out and place on paper to determine, if it is on the correct track. The better we plan the better we perform.

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

 



[headlines]
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[headlines]
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##### Press Release ############################

Orion Hosts 92 Influential Industry Leaders
Speakers/Lenders

 Orion First Financial hosted their annual Small Business Lending Forum in the beautiful Foss Waterway Seaport in Tacoma, Washington. This year’s assemblage of 92 influential industry leaders, speakers and lenders sought to instill and create a unique synergy.

Orion First Financial’s CEO, David Schaefer, opened with his remarks and outline for the day. Additionally, Washington’s 6th Congressional District representative, Derek Kilmer spoke on topics related to small business lending, the government’s influence and our role in improving the future of small businesses as a whole – because as he put it, they are "the backbone" of our nation.

The keynote speaker, Bill Stainton spoke on the dynamics of management and how specific techniques yield different results in a team environment; an important consideration to small business lenders as they lead their business’ through change.

Ralph Petta, COO of the ELFA (Equipment Leasing and Finance Association) reviewed the sheer size, importance and impact small businesses make in America today, with additional focus on their direct correlation to national fiscal health.



Next, the Panel, moderated by Bob Rinaldi (CEO of Commercial Industrial Finance) and alternative lending leaders, Robert Peterson (Senior Vice President at Route 66 Ventures, LLC), Tabitha Creighton (Co-Founder and CEO at InvestNextDoor) and Brij Patel (President at Alliance Funding Group and co-founder of Quick Bridge Funding) discussed an expansive array of topics and questions. The Panel shed valuable, first-hand experiences, insight and opinion on new trends in market lending practices and what could be done to improve the industry. The audience also engaged in a Q&A with the panelists.

David Schaefer’s closing remarks focused around the importance of overcoming hurdles in the small business lending industry – as a team. Small businesses in our country and the world are essential to innovation and organic growth. A more proactive focus on providing and developing solutions to enable their success results in a better climate for everyone. The evening ended aboard the yacht, Emerald Star, and cruised past Tacoma’s iconic waterfront towards the Narrows Bridges, returning during a beautiful Pacific Northwest sunset cast upon Mt. Rainier. For many, the cruise was a chance to unwind, shake hands and enjoy the company of other industry professionals, united under one goal: improving access to capital for small businesses.

Orion First Financial (@OrionFirst) is a portfolio services management leader in the small business lending marketplace. Orion specializes in underwriting, contract servicing, commercial collections, and strategic advisory services to those originating loans in the SMB market. As a multifaceted and innovative company, Orion can effectively engage with Alternative Lenders, Leasing Companies, Equipment Vendors/Manufacturers, Banks and Financial Institutions. Orion’s skilled team, efficient technology platform and best practices approach, generate exceptional industry performance metrics that translate into better profits, less stress and enriched customer relationships for their clients. For more information about Orion First Financial, LLC please go to www.orionfirst.com.

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


(Leasing News provides this ad as a trade for appraisals and equipment valuations provided by Ed Castagna)

 

[headlines]
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#### Press Release ############################# 

Moody’s Warns California’s residential electric rate reform
“…could increase contract risk in solar securitizations.”

New York,  Contract renegotiations could dent cash flows of existing solar securitizations following the recent adoption of a new electric rate structure for residential customers of California’s three major investor-owned utilities, Moody’s Investors Service says in a new report. Outstanding solar securitizations have large concentrations of obligors in the most populous US state.

“Existing solar customers in California entered into contracts with solar providers who promoted long-term savings based on the previous electric rate structure,” says Vice President – Senior Analyst, Tracy Rice. “The new rate structure will bring down the price of grid electricity for many of them, which could lead some to try to renegotiate their solar contracts because they are not seeing the savings they expected.”

While the cost savings associated with “going solar” will diminish, existing customers will however be obliged to continue paying their solar providers, and leases and power purchase agreements typically run for 20 years, Rice says in “California’s Utility Residential Rate Reform Increases Contract Risk in Outstanding Solar Securitizations.” For this reason Moody’s views renegotiation risk as remote among these customers, since as long as solar costs less than grid electricity, they’re unlikely to stop making their contract payments.

Contract renegotiation risk will be higher where solar customers sell their homes. As a result of lower utility rates, consumers who buy homes already equipped with solar systems will have less incentive to assume solar contracts. “This could jeopardize solar contracts or lead to contract renegotiations in which customers pay less for solar,” Rice says.

“The degree of contract renegotiation risk is somewhat uncertain, however, because there is limited historical performance data on the payment behavior of solar customers.”

California’s electric rate reform underscores how regulatory developments are a key risk factor in the growing solar ABS asset class, Moody’s new report says. Future regulatory developments in California and elsewhere could affect both outstanding and future solar ABS transactions, with the credit effects varying depending the collateral composition of the transactions.

California Utility Residential Rate and Solar (8 pages)
http://www.leasingnews.org/PDF/CaliforniaSolar2015.pdf

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

 

((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

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Italian Greyhound/Whippet Mix
Beverly Hills, California  Adopt-a-Dog


Ace
Puppy
Male
Neutered
Up-to-Date with Shots

Ace's Story...

"If you are looking for a very unique, beautiful and sweet dog, Ace is for you! We are not sure what breed Ace is but we know he is handsome and unique!

"This recent rescue currently weighs 12 lbs. and is about 5-6 months old. Once full grown, he should be close to 20 lbs.

"Ace is shy at first but really warms up quickly and is very affectionate.

"Since he is so young, he will need training."

Rescue Group: Bill Foundation
Contact: Howard Portnoi
E-mail: billfoundation@billfoundation.org
Website: http://www.billfoundation.org
Address: PO Box 5202, Beverly Hills, CA 90209

We hold adoptions every other Sunday from 11AM-3PM at Healthy Spot- 1110 Wilshire Boulevard- Santa Monica, CA 90401. Please check our website for adoption fair dates.

Visit our website at www.billfoundation.org for more info.

 

Adopt a Pet
http://www.adoptapet.com/

 

[headlines]
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Investigator

Los Angeles - Licensed Private Investigators, specializing Collateral Recovery Field Investigation for the Lending industry since 1998 - Our clients include Banks, Credit Unions, Automotive and Equipment Lenders.JohnHarmonPI@aol.com Collections, Investigations & Asset Recovery Midwest:
Tierra Investigations & Consultants, LLC
Commercial collections, repossessions, bankruptcy fraud, theft & conversion claims.  
605-647-1700 Fax 605-647-0534
troy@tierrainv.com

 

Receivables Management LLC
John Kenny

• End of Lease Negotiations & Enforcement 
• Third-Party Commercial Collections

john@jkrmdirect.com | ph 315-866-1167
www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)

 

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Leasing News Classified ads
http://www.leasingnews.org/Classified/classified.htm

[headlines]
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News Briefs----

Financial leasing gets a boost in China; 30 Major/3000 Smaller Leasing Firms
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20150828000139&cid=1201

Farm profits to fall second consecutive year expected to decline 36 percent
http://www.capitalpress.com/Nation_World/20150827/farm-profits-to-fall-second-consecutive-year

MDOT to stop paying for idle railcars; $3,000 a Day; Invested $12 Million Since 2010
http://www.freep.com/story/news/politics/2015/08/29/mdot-halt-payments-idle-railcars/71297514/


Rave review sends Tesla shares accelerating
http://www.mercurynews.com/60-second-business-break/ci_28714326/biz-break-rave-review-sends-tesla-shares-accelerating?source=most_viewed

Optimistic About Inflation, Stanley Fischer Suggests That Fed Will Stick to Plan on Rates
http://www.nytimes.com/2015/08/30/business/optimistic-about-inflation-stanley-fischer-suggests-that-fed-will-stick-to-plan-on-rates.html?ref=business

Seattle company pulls in $33M to create long-lasting metal using ‘nano-layering’
http://www.seattletimes.com/business/technology/seattle-company-pulls-in-33m-to-create-longer-lasting-metal/

Owned by Union, Amalgamated Bank Gives Lift to the Left
http://www.nytimes.com/2015/08/30/us/politics/owned-by-union-amalgamated-bank-gives-lift-to-the-left.html?ref=business&_r=0

EMV Credit Cards: Beware Misleading Equipment Sales Tactics
October 1, 2015 fraud-liability rule changes and misleading sales tactics
http://www.practicalecommerce.com/articles/91713-EMV-Credit-Cards-Beware-Misleading-Equipment-Sales-Tactics

 


[headlines]

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--You May Have Missed It

Celine Dion embraces her fans and her history in roaring return to Vegas
http://www.axs.com/celine-dion-embraces-her-fans-and-her-history-in-roaring-return-to-veg-64829



[headlines]
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SparkPeople--Live Healthier and Longer



5-Minute Power Boosters for the Office
Keep Your Body Fit and Your Mind Alert
http://www.sparkpeople.com/resource/fitness_articles.asp?id=399

[headlines]
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Baseball Poem

"I Dream of a Baseball Star"

   by Gregory Corso

 

I dreamed Ted Williams

leaning at night

against the Eiffel Tower, weeping.

 

He was in uniform

and his bat lay at his feet

-- knotted and twiggy.

 

"Randall Jarrell says you're a poet!" I cried.

"So do I! I say you're a poet!"

 

He picked up his bat with blown hands;

stood there astraddle as he would in the batter's box,

and laughed! flinging his schoolboy wrath

toward some invisible pitcher's mound

-- waiting the pitch all the way from heaven.

 

It came; hundreds came! all afire!

He swung and swung and swung and connected not one

sinker curve hook or right-down-the middle.

A hundred strikes!

The umpire dressed in strange attire

thundered his judgment: YOU'RE OUT!

And the phantom crowd's horrific boo

dispersed the gargoyles from Notre Dame.

 

And I screamed in my dream:

God! throw thy merciful pitch!

Herald the crack of bats!

Hooray the sharp liner to left!

Yea the double, the triple!

Hosannah the home run!



[headlines]

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Sports Briefs----

Tokyo wins Little League title, beating Lewisberry 18-11
http://www.sacbee.com/sports/mlb/article32821287.html

Redskins brass at odds over ending Robert Griffin III era
http://espn.go.com/nfl/story/_/id/13546500/washington-redskins-consider-moving-robert-griffin-iii

49ers offensive line a concern
http://www.contracostatimes.com/49ers/ci_28727418/49ers-offensive-line-concern

Tomsula: LB Brooks won't return to 49ers practice this week
http://www.usatoday.com/story/sports/nfl/2015/08/30/tomsula-lb-brooks-wont-return-to-49ers-practice-this-week/71435270/

In St. Louis, NFL extracts a high price for its intangible benefits
http://www.stltoday.com/business/columns/david-nicklaus/nfl-extracts-a-high-price-for-its-intangible-benefits/article_e9aedca0-d94b-5115-b903-5a3e05c859e4.html

Brady, Goodell due back in court Monday
http://www.bostonglobe.com/sports/2015/08/30/tom-brady-roger-goodell-due-back-court-monday-regarding-deflategate/W8R0wNqOB1mTzy0yH2t3CK/story.html

Injuries pile up in third week of NFL preseason, but none apparently serious
http://www.usatoday.com/story/sports/nfl/2015/08/30/preseason-injuries-randall-cobb-andy-dalton-leonard-williams/71423154/

 

[headlines]
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California Nuts Briefs---

Clover Stornetta taps into new generation
http://www.pressdemocrat.com/business/4398461-181/clover-stornetta-taps-into-new

George Cleve, San Jose Symphony conductor, dead at 79
http://www.mercurynews.com/news/ci_28714546/george-cleve-san-jose-symphony-conductor-dead-at-79


[headlines]
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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

Clover Stornetta taps into new generation
http://www.pressdemocrat.com/business/4398461-181/clover-stornetta-taps-into-new

George Cleve, San Jose Symphony conductor, dead at 79
http://www.mercurynews.com/news/ci_28714546/george-cleve-san-jose-symphony-conductor-dead-at-79

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm

[headlines]
----------------------------------------------------------------

This Day in American History

     1685 - Caves used for dwellings were ordered evacuated and filled in by the Governor’s Council of Pennsylvania.  Early settlers in Pennsylvania, New York and Massachusetts lacked sawmills, even saws, as well as facilities for cutting and using stone.  Many poor and rich lived in caves dug into the sides of hills.
    1728 - Catholic nuns pioneered education in Louisiana. Only nine years after the founding of New Orleans, Ursuline nuns arrived in Louisiana to serve the sick and to teach and train the “casket girls”. These orphaned girls, who carried their belongings in caskets or small trunks, arrived from France as prospective wives of settlers. They received a dress in a casket as a gift for their immigration, introducing a new element into Louisiana society. Since these girls were not inmates of penal institutions, as were many of the predecessors, mostly had been arrested for prostitution as women had few ways of making money. It became and has remained an honor to be descended from a casket girl. The Ursuline Convent in New Orleans provided the best female education obtainable in the colony. Through the years, the nuns not only instructed young ladies from well-to-do families, but also housed, fed, and taught orphan girls. Sisters of the Sacred Heart founded schools such as St Michael’s Convent in Convent, Louisiana, where the small cypress desk displayed in this gallery was used. Views about female education varied with time and circumstances. Girls were often taught at home by mothers or tutors. Some were taught by French governesses or in small private schools. Others attended Common Schools in neighboring towns and boarded with family or friends.
Although fathers in isolated areas might consider female education dangerous, wealthy parents sometimes sent their daughters to France. Young ladies also enrolled in southern or eastern boarding schools, particularly as female seminaries proliferated in the nineteenth century. Regardless of circumstances, most parents viewed female education only as a preparation for marriage, motherhood, and home management.
    1803 – Lewis and Clark began their expedition from Pittsburgh, PA.
    1827 - Birthday of Anna Bartlett (1827-1915) on Long Island, NY.  She was an author of numerous books and novels and author of the hymn "Jesus Loves Me, This I Know." Collaborated on several books with her sister Susan Bogert Warner.
    1842 - Birthday of Mary Corinna Putnam Jacobi (1842-1906) in London.  Deciding to continue her medical training in France, became the first woman to enter "Ecole de Medecine." Graduating with honors, she returned to New York City to become a lecturer in Dr. Elizabeth Blackwell's Medical College and open a private practice. Because of her European training, she felt American women were not getting the quality of medical training they should and she became an exacting instructor as well as the organizer of the Association for the Advancement of the Medical Education of Women to improve the standards of women's medical training. She published more than 100 titles.
    1851 - Clipper "Flying Cloud" set new record by sailing from New York to San Francisco in 89 days.
    1864 - General William T. Sherman launches the attack that finally secures Atlanta, Georgia, for the Union, and seals the fate of Confederate General John Bell Hood's army, which is forced to evacuate the area. The Battle of Jonesboro was the culmination of a four-month campaign by Sherman to capture Atlanta.
Confederate General William Hardee's corps moved to block Sherman at Jonesboro, and attacked the Union troops on August 31, but the Rebels were thrown back with staggering losses. The entrenched Yankees lost just 178 men, while the Confederates lost nearly 2,000. On September 1, Sherman attacked Hardee. Though the Confederates held, Sherman successfully cut the rail line and effectively trapped the Rebels. Hardee had to abandon his position, and Hood had no choice but to withdraw from Atlanta. The fall of Atlanta was instrumental in securing the reelection of Abraham Lincoln in the fall.
    1865 - The US Federal government estimated the American Civil War had cost about $8 billion. Human costs have been estimated at more than one million killed or wounded.
    1875 - Birthday of Edward Stewart (Eddie) Plank (1875-1926), Baseball Hall of Fame pitcher, Gettysburg, PA. Plank won more games than any other left-handed pitcher in American League history during a 17-year career, with a 326-194 record and an ERA of 2.35.
http://www.baseballhalloffame.org/hofers_and_honorees/
hofer_bios/plank_eddie.htm

    1881 - The first National tennis championship matches were held at Newport Casino, Newport, RI, by the United States Lawn Tennis Association, which introduced the first national uniform conditions. The single match was won by Richard Dudley Sears, who defeated W.E. Glyn 6-0, 6-3 and 6-2. The doubles were won by Clarence Monroe Clark and Frederick W. Taylor
    1886 – At Charleston, SC, the first major earthquake in the recorded history of the eastern US occurred. Though a num­ber of smaller eastern US quakes had been described and recorded since 1638, this affected persons living in an area of some 2 million square miles. The epicenter was 15 miles northwest of Charleston, where 41 people died, 90 percent of the city’s 6,965 brick buildings were damaged, and nearly all of its 14,000 chimneys were broken off at the roof. Altogether, the earthquake claimed some 100 lives. A series of earthquakes beginning on December 16, 1811, were the most severe in the U.S. history---they changed the course of the Mississippi River and created many new lakes---but the epicenter was in a sparsely populated region and caused no known damage.
    1887 - Thomas Edison patented the Kinetoscope, the first device for producing motion pictures.
    1895 - A football team from Latrobe, PA defeated a squad from Jeanette PA, 12-0, which history has regarded as the first professional football game. Latrobe quarterback John Brallier was paid $10 expense money.
    1896 - Klondike Eldorado Gold Discovery: Two weeks after the Rabbit/Bonanza Creek claim was filed, gold was discovered on Eldorado Creek, a tributary of Bonanza. More than $30 million worth of gold (worth some $600-$700 million in today's dollars) was mined from the Eldorado Claim in 1896.
    1900 -  Mrs. Adolph Ladenburg rides a horse astride in the society spa of Saratoga, NY, and causes a scandal which fortunately doesn't last long because one writer said of the incident, "Farm women have been riding astride as long as there have been horses."
    1903 - A Packard made the first completed automobile trip from San Francisco to New York City. The trip took 52 days.
    1903 – One of television’s early stars, Arthur Godfrey (1903-83), was born in NYC.  No TV personality in 1950s America enjoyed more clout or fame than Godfrey, until an infamous on-air incident involving the up-and-coming Julius LaRosa undermined his folksy image and triggered a gradual decline. At the peak of his success, Godfrey helmed two CBS weekly series and a daily 90-minute television mid-morning show, but, by the early 1960s, his presence had been reduced to hosting the occasional TV special.
    1904 – The first African-American Olympic medalist was George C. Poage of the Milwaukee Athletic Club, Milwaukee, WI, who participated in the Third Olympiad at St. Louis, MO. He placed third in the 400-meter hurdles on August 31 and third in the 200-meter hurdles on September 1.
    1907 – Birthday of Edgar Sampson (1907-73) in New York City.  Great jazz arranger and also composer of “Blue Lou”, “Stompin’ at the Savoy”, “Don’t Be that Way,” much other swing literature.
    1908 – Writer William Saroyan (1908-81) was born in Fresno, CA.  “The Human Comedy”.  In the preface to “The Time of Your Life”, which won the 1940 Pulitzer Prize for Drama, which he refused, he urges:  “In the time of your life, live so that in that good time there shall be no ugliness or death for yourself or for any life your life touches. Seek goodness everywhere, and where it is found, bring it out of its hiding place and let it be free and unashamed.” Saroyan left school at the age of 15 but continued his education by reading and writing on his own, living on his writing from 1920. His stories of the Great Depression celebrated the joy of living in spite of poverty and insecurity. I worked with his brother who was controller at KGO-TV and a very generous man.
http://kirjasto.sci.fi/saroyan.htm
    1909 - The A.J. Reach Company was granted a patent for its cork-centered baseball, which will replace the hard rubber-cored one.
    1910 - Glenn Hammond Curtiss flew his biplane over Lake Erie from Euclid Beach Park, Cleveland, OH, to Cedar Point, Sandusky, OH. He flew at an altitude between 400 and 500 feet. The trip took 78 minutes nonstop over a distance of 70 miles to make the first flight over water.
    1913 – Ray Dandridge (1913-94), who many consider the finest 3B in Negro League history, was born in Richmond, VA.  He is one of two Negro League third baseman selected to the Baseball Hall of Fame, inducted in 1987.
    1917 – At Fenway Park, Babe Ruth won his 20th, beating the Philadelphia A’s, 5-3.   He finished with a 24-13 record and a 2.01 ERA.  He recorded 6 shutouts and 35 complete games, a total that has only been exceeded once in Major League history since, by Bob Feller in 1946.   This followed 1915 when he was 18-8, 2.44 and 1916 at 23-12, 1.75.   
    1918 - Birthday of Kenneth S. (Kenny) Washington (1918-71) at Los Angeles, CA. After gaining All-American football honors at UCLA where he was a teammate of Jackie Robinson, Washington and Woody Strode became the first blacks to play in the NFL after World War II, breaking the league’s color barrier, with the Los Angeles Rams. He played three seasons and then retired to a career in business.
    1918 – Alan Jay Lerner (1918-86) of the songwriting team of Lerner and Loewe was born in NYC.  He created some of the world's most popular and enduring works of musical theatre for both the stage and on film. He won three Tony Awards and three Academy Awards, among other honors.  Their first hit was “Brigadoon” (1947), followed in 1951 by the less successful “Paint Your Wagon”.  In that same year Lerner also wrote the Oscar-winning original screenplay for “An American in Paris”.  In 1956, Lerner and Loewe unveiled “My Fair Lady”.  “Camelot” followed in 1960.
    1920 - The first ever news program was broadcast by the radio station 8MK in Detroit, Michigan. The station had opened its service on August 20.
    1928 - Bertolt Brecht's “The Three-penny Opera" ("Die Dreigoschenoper") with music by Kurt Weill was premiered in Berlin with Lotte Lenya.
    1928—Actor James Coburn born Laurel, NJ. “Magnificent Seven,” “The Great
Escape,” “Our Man Flint.” He received an award for his supporting role in “Affliction (1999). He passed away November 18, 2002.
    1929 - Birthday of Academy Award-winning actor James Coburn (1929-2002) at Laurel, NE. He rose to fame as the knife thrower in “The Magnificent Seven” and became known for his tough-guy roles in films such as “The Great Escape”, “In Like Flint”, and “Our Man Flint. “ He received an Oscar for his supporting role in 1999’s “Affliction.” 
    1934 - The first College All-Star Football Game, matching the defending NFL champion against team of college seniors from the previous season, was played at Chicago’s Soldier Field. Organized by sportswriter Arch Ward, the game was an annual charity affair played through 1976.   In the first game, the Chicago Bears and the All-Stars played to a 0-0 tie before a crowd of 79,432.
    1935 - In an attempt to stay out of the growing turmoil in Europe, the United States passed the first Neutrality Act.
    1935 – Frank Robinson was born in Beaumont, TX.  Robinson attended  McClymonds HS in Oakland, California, where he was a basketball teammate of NBA Celtics Hall of Famer Bill Russell, and a baseball teammate of future Major Leaguers Vada Pinson and Curt Flood. The only player to win league MVP honors in both the National and American Leagues, he won the Triple Crown, was a member of two World Series champions (the 1966 and 1970 Baltimore Orioles) and retired with the fourth-most career home runs at the time of his retirement (he is currently ninth). Robinson was elected to the Baseball Hall of Fame in 1982.  Robinson was the first African-American manager in Major League history, managing the Cleveland Indians during the last two years of his playing career, compiling a 186–189 record. He went on to manage the SF Giants, Baltimore Orioles, and the Montreal Expos/Washington nationals.
    1936 – Birthday of Marva Collins (1936-2015) in Monroeville, AL.  She founded Chicago’s Westside Preparatory School in 1975 in Garfield Park, Illinois, that transforms so-called “unteachable” ghetto children into scholars.
She continued spreading the word until her death on June 28, 2015.
http://www.marvacollins.com/biography.html
http://www.marvacollins.com/
    1938 - Frank Sinatra, 23, cuts “All or Nothing at All” with James Band, Columbia records.
    1939 - At noon, despite threats of British and French intervention, Nazi leader Adolf Hitler signs an order to attack Poland, and German forces move to the frontier. That evening, Nazi S.S. troops wearing Polish uniforms staged a phony invasion of Germany, damaging several minor installations on the German side of the border. They also left behind a handful of dead German prisoners in Polish uniforms to serve as further evidence of the alleged Polish attack, which Nazi propagandists publicized as an unforgivable act of aggression. At dawn the next morning, 58 German army divisions invaded Poland all across the 1,750-mile frontier. Hitler expected appeasement from Britain and France--the same nations that had given Czechoslovakia away to German conquest in 1938 with their signing of the Munich Pact. However, neither country would allow Hitler’s new violation of Europe’s borders, and they presented Germany with an ultimatum: Withdraw by September 3 or face war with the Western democracies. At 11:15 a.m. on September 3, a few minutes after the expiration of the British ultimatum, Prime Minister Neville Chamberlain appeared on national radio to announce solemnly that Britain was at war with Germany. Australia, New Zealand, and India immediately followed suit. Later that afternoon, the French ultimatum expired, and at 5:00 p.m. France declared war on Germany. The European phase of World War II began.
    1943 – USS Harmon, a destroyer, the first Navy ship to be named after a black person, was commissioned.  It was named after Mess Attendant Leonard Roy Harmon (1917-42) who was posthumously awarded the Navy Cross for his actions on the USS San Francisco at Guadalcanal where he was killed in action.
    1945 - Van Morrison is born in Pottinger, Northern Ireland. His biggest hit is the top 10 song “Domino,'' released in 1970.
    1945 – World renowned violinist and conductor Itzhak Perlman was born in Tel Aviv in what was then known as Palestine, part of the British Empire.  Coincidentally, he made his US debut on “The Ed Sullivan Show” on the same night as The Rolling Stones.
    1946 – Two-time Super Bowl-winning New York Giants head coach, Tom Coughlin, was born in Waterloo, NY.
    1949 – Actor Richard Gere was born in Philadelphia.
    1950 - KOUMA, ERNEST R., Medal of Honor
Rank and organization: Master Sergeant (then Sfc.) U.S. Army, Company A, 72d Tank Battalion. Place and date: Vicinity of Agok, Korea, 31 August and 1 September 1950. Entered service at: Dwight, Nebr. Born: 23 November 1919, Dwight, Nebr. G.O. No.: 38, 4 June 1951. Citation: M/Sgt. Kouma, a tank commander in Company A, distinguished himself by conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty in action against the enemy. His unit was engaged in supporting infantry elements on the Naktong River front. Near midnight on 31 August, a hostile force estimated at 500 crossed the river and launched a fierce attack against the infantry positions, inflicting heavy casualties. A withdrawal was ordered and his armored unit was given the mission of covering the movement until a secondary position could be established. The enemy assault overran 2 tanks, destroyed 1 and forced another to withdraw. Suddenly M/Sgt. Kouma discovered that his tank was the only obstacle in the path of the hostile onslaught. Holding his ground, he gave fire orders to his crew and remained in position throughout the night, fighting off repeated enemy attacks. During 1 fierce assault, the enemy surrounded his tank and he leaped from the armored turret, exposing himself to a hail of hostile fire, manned the .50 caliber machine gun mounted on the rear deck, and delivered pointblank fire into the fanatical foe. His machine gun emptied, he fired his pistol and threw grenades to keep the enemy from his tank. After more than 9 hours of constant combat and close-in fighting, he withdrew his vehicle to friendly lines. During the withdrawal through 8 miles of hostile territory, M/Sgt. Kouma continued to inflict casualties upon the enemy and exhausted his ammunition in destroying 3 hostile machine gun positions. During this action, M/Sgt. Kouma killed an estimated 250 enemy soldiers. His magnificent stand allowed the infantry sufficient time to reestablish defensive positions. Rejoining his company, although suffering intensely from his wounds, he attempted to resupply his tank and return to the battle area. While being evacuated for medical treatment, his courage was again displayed when he requested to return to the front. M/Sgt. Kouma's superb leadership, heroism, and intense devotion to duty reflect the highest credit on himself and uphold the esteemed traditions of the U.S. Army.
    1950 - Top Hits
“Mona Lisa” - Nat King Cole
“Play a Simple Melody” - Bing Crosby
“Sam’s Song” - Bing & Gary Crosby
“Goodnight Irene” - Red Foley and Ernest Tubb
    1950 - First baseman Gil Hodges of the Brooklyn Dodgers became the sixth player in Major League history to hit four home runs in one game. He was one of my favorite baseball players, and I got his autograph, too. He added a single as the Dodgers beat the Boston Braves, 19-3.
    1951 - *LYELL, WILLIAM F., Medal of Honor
Rank and organization: Corporal, U.S. Army, Company F, 17th Infantry Regiment, 7th Infantry Division. Place and date: Near Chup'a-ri, Korea, 31 August 1951. Entered service at: Old Hickory, Tenn. Birth: Hickman County, Tenn. G.O. No.: 4, 9 January 1953. Citation: Cpl. Lyell, a member of Company F, distinguished himself by conspicuous gallantry and outstanding courage above and beyond the call of duty in action against the enemy. When his platoon leader was killed, Cpl. Lyell assumed command and led his unit in an assault on strongly fortified enemy positions located on commanding terrain. When his platoon came under vicious, raking fire which halted the forward movement, Cpl. Lyell seized a 57mm. recoilless rifle and unhesitatingly moved ahead to a suitable firing position from which he delivered deadly accurate fire completely destroying an enemy bunker, killing its occupants. He then returned to his platoon and was resuming the assault when the unit was again subjected to intense hostile fire from 2 other bunkers. Disregarding his personal safety, armed with grenades he charged forward hurling grenades into 1 of the enemy emplacements, and although painfully wounded in this action he pressed on destroying the bunker and killing 6 of the foe. He then continued his attack against a third enemy position, throwing grenades as he ran forward, annihilating 4 enemy soldiers. He then led his platoon to the north slope of the hill where positions were occupied from which effective fire was delivered against the enemy in support of friendly troops moving up. Fearlessly exposing himself to enemy fire, he continuously moved about directing and encouraging his men until he was mortally wounded by enemy mortar fire. Cpl. Lyell's extraordinary heroism, indomitable courage, and aggressive leadership reflect great credit on himself and are in keeping with the highest traditions of the military service.
    1953 - Birthday of American composer Peter Scott Lewis, born San Rafael, CA.
    1954 - Hurricane Carol swept across eastern New England killing sixty persons and causing 450 million dollars damage. It was the first of three hurricanes to affect New England that year
    1955 - William G. Cobb of the General Motors Corporation gave a publicly demonstration of a solar-powered car. It had 12 photoelectric cells made of selenium which converted light into electric current.  The current powered a tiny electric motor with a drive shaft connected to the rear axle by a pulley. It was to be the car of the future, with full production before 1960.
    1958 - Top Hits
“Nel Blu Dipinto Di Blu (Volare)” - Domenico Modugno
“Little Star” - The Elegants
“My True Love” - Jack Scott
“Blue Blue Day” - Don Gibson
    1958 - Fidel Castro, Che Guevara and their rag-tag rebel army begin their destruction of the US-supported and Mafia-controlled dictatorship. Juan Batista said he could control the “minor rebellion” and the US believed him, as well as decades of other dictators in Central and South American countries, who were supported because they were “anti-Communist.”
http://www.patriagrande.net/uruguay/eduardo.galeano/
memoria.del.fuego/19580831.htm

http://www.weisbord.org/WhatsGoingOn.htm
    1959 – The Dodgers’ Sandy Koufax established the National League strikeout record of 18 in a 5–2 win over the Giants in front of nearly 83,000 fans at the LA Coliseum, the largest ever to see a Major League game.  It broke the record held by Dizzy Dean.
    1963 - The Ronettes single, "Be My Baby" enters the charts.
    1963 - "My Boyfriend's Back" by the Angels topped the charts and stayed there for 3 weeks.
    1966 - Top Hits
“Summer in the City” - The Lovin’ Spoonful
“Sunny” - Bobby Hebb
“See You in September” - The Happenings
“Almost Persuaded” - David Houston
    1968 - Cream's "Fresh Cream" enters the LP chart. It contains the hit single, "Sunshine Of Your Love."
    1968 - Decca Records releases what has been called The Rolling Stones most political song, "Street Fighting Man". The number was written after Mick Jagger attended a March 1968 anti-war rally at London's US embassy, during which mounted police attempted to control a crowd of 25,000. The single proved to be very popular, but was kept out of the US Top 40 (reaching #48) because many radio stations refused to play it based on what were perceived as subversive lyrics.
    1968 – Former Major League pitcher Hideo Nomo was born in Japan.  Nomo pitched in 13 seasons in the Majors with 8 different teams, before retiring in 2008. He was 1995’s Rookie of the Year and he twice led the league in strikeouts.  He also threw two no-hitters and until 2015 had been the only Japanese pitcher in the Majors to do so.
    1970 – Debbie Gibson was born in Brooklyn.
    1971 – The low of 84 degrees and high of 108 degrees at Death Valley, CA, were the coolest of the month. The average daily high was 115.7 degrees that August, and the average daily low was 93.4 degrees
    1973 – Paul McCartney receives a Gold record for “Live and Let Die”.
    1974 – Top Hits
“(You’re) Having My Baby” – Paul Anka
“I Shot the Sheriff” – Eric Clapton
“Tell Me Something Good” – Rufus
“The Grand Tour” – George Jones
    1974 – “The Partridge Family’’ television show ends, leaving David Cassidy free to pursue a solo music career.
    1974 – Carole King’s ‘Jazzman’ released in US.
    1976 – “Alice” premiers on TV. Linda Lavin played the title role in this CBS comedy that was based on the 1975 film “Alice Doesn’t Live Here Anymore.” Alice Hyatt was the new girl in town---a widow raising her son while trying to make ends meet by waitressing at a diner. She had dreams of making it big as a singer. Nine years later, Alice was able to leave her “temp” job for a gig. Lavin’s co-stars were: Vic Tayback as diner owner Mel Sharples,  Philip McKeon as Alice’s son Tommy,  Beth Howland as the waitress Vera Gorman, Polly Holiday as sassy waitress Flo Castleberry, Diane Ladd as Flo’s replacement Belle Dupree, Celia Weston as waitress Jolene Hunnicutt,  Martha Raye as Mel’s mother Carrie and Marvin Kaplan as customer Henry Bessmyer. The last telecast aired on July 2, 1985.
http://www.sitcomsonline.com/alice.html
http://www.televisionheaven.co.uk/alice.htm
http://www.bigbob.com/alice/
http://www.jumptheshark.com/a/alice.htm
http://www.imdb.com/title/tt0071115/
    1976 - George Harrison is found guilty of "subconscious plagiarism" of the Chiffons hit "He's So Fine" in his "My Sweet Lord”.
    1980 - Pat Benatar's "Crimes Of Passion" LP enters the chart. The album features her signature song "Hit Me With Your Best Shot."
    1982 - Top Hits
“Eye of the Tiger” - Survivor
“Hurts So Good” - John Cougar
“Abracadabra” - The Steve Miller Band
“Fool Hearted Memory” - George Strait
    1984 - Lightning ignited several forest fires in Montana, one of which burned through 100,000 acres of timber and grassland.
    1985 - Bryan Adams' "Summer of '69" peaks at #5 on the pop singles chart while Billy Joel's "You're Only Human (Second Wind)" peaks at #9
    1987 - The largest preorder of albums in the CBS Records history occurred when 2.25 million copies of Michael Jackson’s "Bad" album were shipped to record stores. The LP was the follow up to "Thriller", the biggest Jackson-seller of all time which sold 35 million copies. The "Bad" album was successful by normal standards, but flopped compared to "Thriller," selling only 13 million copies.
    1987 - Eight cities in Washington and Oregon reported record high temperatures for the date, including Eugene, OR and Portland, OR with afternoon highs of 102 degrees. The high of 102 degrees at Portland smashed their previous record for the date by twelve degrees. Frost was reported in South Dakota. Aberdeen, SD established a record for the month of August with a morning low of 32 degrees, and Britton, SD dipped to 31 degrees.
    1988 - Five-day power blackout of downtown Seattle begins.
    1988 - Arbitrator George Nicolau ruled against the Major League owners in the "Collusion II” case, agreeing with the players' contention that the owners conspired to fix the free agent market after the 1986 season. Twelve players were granted no-risk free agency after the season, as well as monetary compensation.
    1989 - Thunderstorms developing along a stationary front spread severe weather from Minnesota to Indiana through the course of the day and night. Thunderstorms in Minnesota produced baseball size hail near Saint Michael and Hutchinson, and drenched Moose Lake with nine inches of rain in six hours. Tucson AZ hit 100 degrees for a record 79th time in the year, surpassing a record established the previous year.
    1989 - Arbitrator Thomas Roberts ordered the Major League owners to pay $10.5 million in damages as a result of their collusion against free agents after the 1985 season.
    1990 - Ken Griffey, Jr, 20, and Ken Griffey, Sr., 40 , made major league history by becoming the first father and son to play together in the same game. They played for the Seattle Mariners in a game against the Kansas City Royals.
    1990 - Top Hits
“Vision of Love” - Mariah Carey
“Come Back to Me” - Janet Jackson
“If Wishes Came True” - Sweet Sensation
    1991 - Metallica's self-titled album debuts at No. 1 on Billboard's pop album chart.
    1995 - The Rock and Roll Hall of Fame and Museum opens in Cleveland. The city is argued to be the birthplace of rock beginning in the rooms of radio station WMMS, where disc jockey Alan Freed coined the term “rock 'n' roll'' in the early 1950s.
    1996 - Oklahoma State University defeated Southwest Missouri State University, 23-20, in the first Division I-A college football game to be decided in overtime. The game was tied, 17-17, at the end of regulation time. Under new rules effective that year, Southwest Missouri State go the ball first in overtime and kicked a 47-yard field goal. Oklahoma State then got the ball and answered with a 13-yard touchdown run.
    1997 - Lady Diana Spencer, former wife of Charles, Prince of Wales, was killed along with her companion Dodi Fayed in a car accident in Paris. Tests conducted by French police indicated that the driver, who also perished in the crash, was intoxicated and likely caused the accident while trying to escape the paparazzi photographers who were following them.
    2001 - Due to the fact Little League World Series star pitcher Danny Almonte is 14 years old, not 12 as required by the organization's rules, the Raulindo Paulino All-Stars are stripped of all its wins. The team, which had captured the heart of the community, finished third in Williamsport and were given a parade in New York and honored before a game at Yankee Stadium.
    2001 - Former minor leaguer Lawrence “Crash” Davis (1919-2001) died after a year-long bout with cancer. The 82-year old got a late-life shot of celebrity because of the 1988 movie “Bull Durham”, in which the main character played by Kevin Costner bore his name. Davis played 2B for the Philadelphia A’s, 1940-42. After serving in the Navy during World War II, he returned to pro baseball in 1946 but never made it back to the majors. In 1948, he hit .315 with the Durham Bulls and set a Carolina League record with 50 doubles.
    2002 - Losing their 13th consecutive game at Shea Stadium to Randy Wolf and the Phillies, 1-0, the Mets complete the worst month at home in National League history. The Amazins' join the Seattle Pilots (August, 1969) and the Tigers (September, 1996) as teams that have not won a home game in a calendar month with at least ten games.
  2011 - Severe damage to homes and infrastructure occurs as wildfires sweep through the U.S. states of Oklahoma and Texas  

 

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