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

Wednesday, August 30, 2017

Today's Equipment Leasing Headlines

Ascentium Capital HQ Closed Due to Harvey
   Company Active Elsewhere
Point/Counterpoint with Tom McCurnin
  on Hardwick v. Wilcox Usury Case
    By Joe Bonanno, CLFP
State Licensing and Usury Laws:
    An Updated Overview of a Few Troublesome States
Help Wanted
   CoreTech Leasing/Lendspark
Federal Reserve Board permanently bars former employee
of Four Oaks Bank and Trust Company from the banking industry
SoFi Personal Loans Help People Pay Off More
   Than $5 Billion in Credit Card Debt
CLFP Member Celebration Day 2017
  Members Turn Out in Cities to Celebrate
Academy for Lease & Finance Professionals
   Spaces Left for 2017
Poodle, Miniature
  Simi Valley, California  Adopt a Dog
News Briefs---
Should SoFi be granted a bank charter? Rep.
  Waters isn't so sure --- FDIC Decision Pending
Hurricane Impact Upends Texas Economic Recovery
 To take months for economists to measure economic impact
Animals displaced by Hurricane Harvey to get help from
   Sacramento, California group
Rockets owner Leslie Alexander pledges $10 million
     to Harvey relief efforts --Others Sports Donate Also
Anheuser-Busch pauses making beer
   to send water to Harvey victims

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

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

######## surrounding the article denotes it is a “press release” 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.

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Ascentium Capital HQ Closed Due to Harvey
Company Active Elsewhere

Humble-Kingwood, TX Local News Patch:
 “Rescue efforts are underway in Kingwood, a suburb of Houston. Local agencies and volunteers are helping evacuees as they are brought from across West Lake Houston Parkway Bridge out of flooded homes in Kingwood and to transports stationed at West Lake Houston Parkway and Kings Lake Estates.

"KINGWOOD, TX — Houston City Councilman Dave Martin said Monday that he has secured the use of the Lone Star College-Kingwood gymnasium as an emergency shelter. The shelter, which is located at 20000 Kingwood Drive, is open to residents in Kingwood, Humble and Atascocita, as well as other residents in the area who have experienced flooding in the aftermath of Hurricane Harvey."

Tuesday: “There have been no evacuation orders issued for the Kingwood and Humble areas, but as the water rises on the San Jacinto River, things could change.

“Kingwood residents are taking to Facebook, posting their home addresses for rescue.

“There are reports of heavy flooding in both The Enclave (the subdivision behind Randall's near Town Center) and The Barrington.

“The Enclave is particularly at risk since all of the homes are one story.

“Residents have been moving to their attic to avoid flood waters in their homes as they await boat rescue.

“Emergency responders have said to only move into your attic if you have a way to break through the roof so that you aren't trapped if water continues to rise.

“Those needing immediate assistance are urged to call the Kingwood-specific rescue number 832-395-1820. This goes directly to the Kingwood command center.

“Meanwhile, the shelters are not equipped with food or snacks, so donations will be needed.

“Other needs include donations of such items as:
Clean clothes
Phone chargers
Clorox wipes
Diapers and baby wipes
Infant and baby formula
Baby food
Personal and feminine hygiene items

“Martin said the Clearwood Middle School would be opening at 9 a.m. as a transport location, and storm and flood victims will be guided to the LSC-Kingwood Gymnasium.

“Those who are interested in volunteering or making donations should send an email to

Leasing News attempted to reach an Ascentium Capital spokesperson, but was unable to get through the automated telephone system.

Ascentium has a number of satellite offices that also can operate, as well as sales people throughout the United States, and along with a computer system attached to the cloud, Ascentium should be up and running. 

The company may also have a system as GreatAmerica Finance, who has a back-up office system due to floods in their area. ATEL Capital has a duplicate operation in Colorado, in case there is a major earsthquake that affects their main office in San Francisco.

Hopefully the Ascentium computer ystem is based in the cloud.

Certainly the staff in Kingwood has been affected by Harvey, including Tom Depping, who reportedly lives in Houston.

I am sure Mr. Depping and his key staff are focused on the safety and well-being of their employees and their families.

Our thoughts and prayers go out to all in harm’s way.




Point/Counterpoint with Tom McCurnin
on Hardwick v. Wilcox Usury Case *

By Joe Bonanno, CLFP

I wanted to make a quick comment on the case of Hardwick v. Wilcox¸11 Ca. App. 5th 975 (2017) previously discussed in Leasing News by Attorney Tom McCurnin. For the following reasons, I absolutely agree with the decision of the California Appellate Court.

It’s really not that complicated, not that stunning and not that surprising. Laws exist and have to be complied with. Period. No exception, no excuse. Usury is a law that is found in all 50 states and there is even a Federal usury statute. There are several reasons behind usury laws, including (1) public policy, (2) the desire of state legislatures and state courts to protect their residents from unscrupulous lenders and (3) not to camouflage a “penalty” for borrowing money as “interest” on a loan.

Creative authors of legal documents and instruments always run the risk of violating a very fundamental contract law principle that we learn in about the sixth week of contracts class during the first year of law school. What is that?  Simply put, just because it says it, does not mean that it’s enforceable. This is true for business contracts, legal settlement agreements (even if approved by a lower court) and even personal documents, such as wills. 

Clearly in the Hardwick case creativity came back to cause severe damage to the lender. Even though the parties had agreed to an interest rate, the law literally says “You can’t do that.” This is a very predominant misconception that many people have. Countless times, I have seen drafted contracts and so-called “side agreements” that have a material impact on the economics of a transaction, but are not worth the paper they’re written on because they are, candidly, illegal.

This issue also rears its ugly head in multi-state transactions, specifically as it pertains to choice of law and choice of forum clauses. Creativity says that a contract can select the law of one state to govern a transaction and therefore charge an interest rate enforceable in the home state of the lender that would be usurious in the home state of the borrower. Not so fast. Many, multiple state courts have held specifically that subjecting their residents to a choice of law provision that would result in a usurious interest rate being charged to its residents are against the public policy of the borrower’s home state and that the courts of the borrower’s home state have a duty, as a matter of public policy, to protect their residents. Thus, even a choice of law and choice of forum clause can be struck down by the home state courts of a borrower where a usurious interest rate is involved.

As attorney McCurnin correctly points out, there is what I will call limited ways around the usury limitations, such as a license in California and notice requirements in other states. Bear in mind, however, that many of the exceptions also contain a limit on interest rates that can be charged in excess of the statutory usury limit. Compliance with the exception is not a license to charge whatever interest rate a lender pleases to charge. We all know that for years such exceptions as required by the law have been ignored and as a result, cases like the Hardwick case are now being decided by courts in favor of borrowers whose lenders do not comply with the law of exception requirements.

* Release of Usury Claims Held to be Ineffective in California
  by Tom McCurnin, Leasing News Legal Editor


Joseph G. Bonanno, CLFP
Mailing Address and Primary Office:
Andover Landing At Brickstone
300 Brickstone Square, Ste. 201
Andover, MA 01810
Tel:   (781) 328-1010
Fax:  (781) 827-0866

Joe has been involved in the leasing & finance industry since 1984, having worked in the industry before establishing his law practice.  His proud accomplishments include having been a consultant to The World Bank for industry projects in Kosovo and Moscow (which he says were very interesting trips), an educational and testifying industry expert witness in equipment leasing litigation, interviewed by various media outlets, one of only 5 attorneys in the United States to have earned the Certified Lease and Finance Professional Designation, a 6 term past member of the CLFP Board of Directors, an instructor in the CLFP review in the areas of Law, Documentation and Collections,  published author of numerous articles in industry publications, provided numerous industry educational workshops and having been a law instructor in two leasing educational institutes. He has also been a guest lecturer at the business school of Boston’s Suffolk University and at The Massachusetts School of Law.




State Licensing and Usury Laws:
An Updated Overview of a Few Troublesome States

This article is not intended to offer legal advice and is no substitute for consultation with a lawyer familiar with the laws of the relevant state.”

State usury and licensing laws differ significantly from state to state. These are just a few examples, there are other laws in other states that bear review.

In general, the factors that determine whether licensing or usury issues are likely to exist include whether leases or loans are offered, whether motor vehicles are being leased or financed, the size of the transaction and how high the proposed rate will be.

Many states also have laws affecting lease and loan brokers and the sale of off-lease motor vehicles.

California: Willful violation of the finance lender licensing laws is punishable by a fine of up to $10,000 and imprisonment for up to one year. Violators can be subject to a civil penalty of $2,500 per violation. Note that brokers are also subject to the licensing requirement and payment of referral fees is restricted. Licensed lenders are exempt from California’s usury limitation: the higher of 10% or a rate tied to the Federal Reserve rate. As Tom McCurnin points out: lenders who violate California’s usury laws are prohibited from recovering any interest and loss of previously paid interest, treble damages and punitive damages are possible.   

Colorado: Charging over 45% interest is a felony and carries a minimum one year prison sentence and a fine of $1,000.00.

Florida: Charging interest at a rate exceeding 18% on loans of less than $25,000 is considered a consumer finance loan and requires a license. In addition, an interest rate exceeding 25% is a second degree misdemeanor and charging an interest rate exceeding 45% is a third degree felony.

Kentucky: Lenders making loans of $15,000 or less or to sole proprietors must have a license and is subject to a usury limitation of 4% over the Fed 90-day commercial paper rate. Failure to obtain the loan license when necessary is a misdemeanor. The statute also provides that any loan contract made in violation of this statute shall be void and the lender shall have no right to collect any principal, charges or recompense whatsoever.”

Maryland: Loans under $15,000 made to a borrower other than a corporation face a 24% usury limitation and require licensing. Failure to obtain the license is a misdemeanor subject to fines and/or imprisonment not exceeding 3 years.

Massachusetts: The criminal usury rate is 20%. Violation of the criminal usury statute is punished by imprisonment in the state prison for not more than ten years or by a fine of not more than ten thousand dollars, or by both such fine and imprisonment.

Michigan: If the borrower is a “business entity” but the lender is not a bank, credit union or similar institution, the maximum interest rate is 25% and that rate is subject to criminal penalties. Any person guilty of criminal usury may be imprisoned for up to 5 years and/or fined up to $10,000.00.

Minnesota: Loans to sole proprietors are limited to:
Any person who violates the loan licensing statute is guilty of a “gross misdemeanor” and loans made without a license are void. The borrower is not liable to pay any amount under the loan and can obtain a refund of any money paid on the loan.

New Jersey: Loans for business purposes under $50,000 are limited to 16% interest (or a rate tied to federal rates, if higher). In addition to its civil usury rates New Jersey’s criminal usury rates are: (a) 50% for to loans to corporations, limited liability companies and limited liability partnerships; and (b) 30% to other borrowers Violation of criminal usury laws subjects the lending party to criminal usury liability and a fine up to $250,000.

Rhode Island: The maximum interest rate any entity may charge may not exceed the greater of 21% per annum or 9% above a published index. Violation of the usury statute can result in forfeiture of the entire principal and interest and imprisonment for not more than five years.

Tennessee: Tennessee’s usury rate is a variable published “formula rate”. The willful collection of usury is a misdemeanor punishable by up to eleven (11) months, twenty-nine (29) days in jail or a fine not to

Barry S. Marks, CLFP
Marks & Associates, P.C.



Equipment Leasing Account Executive

What sets CoreTech apart from other equipment leasing companies is our team members and impeccable reputation. Are you unhappy with the ethics of your company and the promises made to you? Come to Newport Beach and join us.

To learn more, please click here
CoreTech specializes in medium to 
large size companies and firms
Over 100 law firms trust CoreTech for their leasing needs,
why wouldn't you?




Federal Reserve Board permanently bars former employee
of Four Oaks Bank and Trust Company from the banking industry

The Federal Reserve Board on Tuesday announced it is prohibiting James M. Riley, a former City Executive at the Four Oaks Bank and Trust Company branch in Fuquay-Varina, North Carolina, from participating in the banking industry after determining he improperly approved loans for his own benefit. Riley agreed he would not object to the enforcement action with the Federal Reserve.

In the specific declaration:

“… while employed as the  City Manager of the Fuquay-Varina Branch of Four Oaks, Riley approved at least two loan applications
s that were submitted by others at Riley’s behest and with the intent that Riley would receive the proceeds of those loans for his own benefit;

“WHEREAS, on June 9, 2015, Riley approved a loan for $9,750 for a Four Oaks customer for the stated purpose of buying a vehicle, however $9,700 of the loan proceeds were deposited into an account controlled by Riley on the same day that Riley approved the loan.

“WHEREAS, on June 10, 2014, Riley approved a loan of $150,000 to a Four Oaks customer for the stated purpose of establishing a business
line of credit, however the proceeds of the loan were transferred from the customer’s account into an account controlled by Riley.

“WHEREAS, between June 2014 until Riley’s termination in June, 2016 (the “Relevant  Period”), while employed as the City Manager of
 the Fuquay-Varina Branch of Four Oaks, Riley approved at least
two loan applications that were submitted by others at Riley’s behest and with the intent that Riley would receive the proceeds of those loans for his own benefit.”

Decree (5 pages)





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

SoFi Personal Loans Help People Pay Off More
Than $5 Billion in Credit Card Debt

Members reduced their effective interest rate by average of 42%, increased credit score by average of 17 points

San Francisco, Calif. – SoFi announced its members have cumulatively paid off over $5 billion dollars in credit card debt using SoFi Personal Loans, getting them out of debt faster and at lower interest rates.

Members who used SoFi Personal Loans to pay off credit cards reduced their effective interest rate by 42% on average. They also saw their credit scores rise by 17 points on average due to reduced credit utilization, a key component of credit scores.

Meron Colbeci

“Credit cards offer great convenience and rewards, but there are better forms of financing for longer-term debt,” said Meron Colbeci, SVP of Product at SoFi. “If you’re carrying a balance, you owe it to yourself to look at a Personal Loan to pay off those cards.”

Credit card utilization has been steadily rising since the 2008 financial crisis. Americans’ credit card debt eclipsed $1 trillion this year, according to Federal Reserve data, and the average credit card APR inched up to an all-time high of 16.14 percent, according to

SoFi offers an array of options for Personal Loans, letting members find their rate, choose their loan amount (up to $100,000), and choose their term (three, five, or seven years) through a simple, fully-online application process. Loans are funded in less than a week on average. Though SoFi Personal Loans can be used for lots of purposes, more than 70 percent of SoFi members report using them for credit card refinancing and loan consolidation.

Like all SoFi members, SoFi Personal Loan borrowers gain access to an array of benefits and services, including career counseling, invites to SoFi member events in over 60 cities around the Unites States, and rate discounts on other SoFi products.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit



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

CLFP Member Celebration Day 2017
Members Turn Out in Cities to Celebrate

On August 24, 2017, Certified Lease & Finance Professionals (CLFPs) across the country gathered to celebrate their designation. The celebration kicked off earlier in the month when First American Equipment Finance prepared and served a meal at the American Cancer Society’s Hope Lodge.  Other events were held in Fort Smith, AR, Houston, Bend, Milwaukee, Los Angeles, Minneapolis, Portland, Seattle, and Walnut Creek on August 24th and one more celebration is scheduled for next month in Chicago, Illinois.

Joe Schmitz, CLFP, President at F.I.T. Leasing and Director of the CLFP Board of Directors stated, “We had an exciting CLFP Day in Southern California!  A mixed group of individuals from big and small companies came together to share stories, information and just plain have fun.  Amy Spragg, CLFP President, gave some great information on the growth of the Foundation and the plans for the future.  It was a wonderful time spent with some great people.”

Lisa Genereux, CLFP, Account Executive for Dell Financial Services, “It was a wonderful gathering with Portland-area CLFPs.  It’s a great event that I look forward to every year.”

The Foundation has added 88 CLFPs and Associates this year and there are still two Academies for Lease & Finance Professionals scheduled for 2017.  With 475 CLFPs and Associates, the Foundation’s membership will easily surpass 500 by the end of the year.

The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the equipment finance industry. There are currently 475 active Certified Lease & Finance Professionals and Associates throughout the world. For more information, call Executive Director Reid Raykovich, CLFP at (206) 535-6281 or visit

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




Academy for Lease & Finance Professionals
Spaces Left for 2017

The Certified Lease and Finance Professional Foundation offers a variety of study tools to help candidates prepare for the exam, including the CLFP Handbook, the CLFP Mentor Program and the Academy for Lease & Finance Professionals, a three-day event designed to fully prepare an individual to sit for the CLFP exam. Upon achieving the CLFP designation, recipients must meet ongoing requirements to maintain their elite status as a CLFP in Good Standing and retain the license to use the designation.
Academy Classes 

Five Spots Open – Los Angeles
Hosted by First National Capital
Thursday, October 12, 2017 8:00 AM • First National Capital, 
Foothill Ranch, California

Two Spots Open - Philadelphia Area
November 16, 2017 8:00am
Residence Inn – Great Valley, Malvern, PA
CLFP also has a mentor program
For more information, please contact:
Reid Raykovich, CLFP
Executive Director - CLFP Foundation


Poodle, Miniature
Simi Valley, California  Adopt-a-Dog

ID A455284
Eight Years Old
Weight: 13.2 lbs.
Kennel #924

Simi Valley Animal Shelter
670 W. Los Angeles Ave.
Simi Valley, CA 93065
Direct: 805-388-4341
Toll Free: 888-223-PETS
(All Simi shelter calls are taken by the Camarillo shelter)

Ventura County Animal Shelter
Simi Valley Campus
70 W Los Angeles Ave
Simi Valley, CA 93065
(805) 388-4341

Adopt a Pet



News Briefs----

Should SoFi be granted a bank charter? Rep.
  Waters isn't so sure --- FDIC Decision Pending

Hurricane Impact Upends Texas Economic Recovery
 To take months for economists to measure economic impact

Animals displaced by Hurricane Harvey to get help from
   Sacramento, California group

Rockets owner Leslie Alexander pledges $10 million
     to Harvey relief efforts --Others Sports Donate Also

Anheuser-Busch pauses making beer
   to send water to Harvey victims

Latest of Hurricane Harvey from Houston Chronicle


Equipment Leasing Account Executive

What sets CoreTech apart from other equipment leasing companies is our team members and impeccable reputation. Are you unhappy with the ethics of your company and the promises made to you? Come to Newport Beach and join us.

To learn more, please click here
CoreTech specializes in medium to 
large size companies and firms
Over 100 law firms trust CoreTech for their leasing needs,
why wouldn't you?




You May Have Missed---

Banks Send Warning Signs for Economy


Baseball Poem

Larry Zirlin
Last Baseball Dream of the Season

Although I have no memory
of my career in the majors
my name appears
in the Baseball Encyclopedia
Lifetime average: 241

Now that you know this dream
you know everything about me.

From "Line Drives," 100 Contemporary Baseball Poems,edited by Brooke Horvath
and Tim Wiles, Southern Illinois University Press




Sports Briefs----

Raiders set to hire Mortenson, McCarthy to build $1.9B
    Las Vegas stadium

Thanks to the Lions, Matthew Stafford is the highest-paid
       player in NFL history  $135 million




California Nuts Briefs---

Google effect unleashes downtown San Jose property boom

Oracle to hire 5,000 amid cloud fight with Salesforce



“Gimme that Wine”

Target Now Sells Its Own Line of Very Inexpensive Wine

DC drinks more rosé wine than anyplace else in the country

NZ wine exports hit record high driven by strong US sales

Wine Prices by vintage

US/International Wine Events

Leasing News Wine & Spirits Page



This Day in History

    1637 - The first Synod was held at Mr. Shepard's church, Cambridge (then Newtowne), Massachusetts to condemn the preaching of Anne Hutchinson, the first female religious leader in the American colonies. Eight-two errors in her teachings were enumerated and condemned. The synod adjourned on September 22, 1637. Hutchinson was bought to trial on the strength of this condemnation and was exiled from the Massachusetts Bay Colony. Moving the following year to Rhode Island, then to New York, Anne and her family were killed by Indians in 1643.
    1645 - Dutch and Indians signed peace treaty in New Amsterdam (NY).
    1770 - Anglican clergyman and hymn writer John Newton wrote in a letter: 'The exercised and experienced Christian, by the knowledge he has gained of his own heart and the many difficulties he has had to struggle with, acquires a skill and compassion in dealing with others.’
    1776 - A few days before, in the Battle of Long Island, N.Y., American forces commandeered by Gen. Israel Putnam and Gen. John Sullivan were defeated by the British under Gen. Sir William Howe and Gen. Sir Henry Clinton. Howe took Gen. Sullivan prisoner. On Aug 30, the Americans evacuated Long Island and crossed to Massachusetts. General Washington took advantage of a heavy fog to evacuate Long Island after a defeat. Adverse winds kept the British fleet from intervening.
    1778 - American forces withdrew from Rhode Island after an unsuccessful attempt, led by John Sullivan, to recapture Newport from the British.  In New Hampshire, a band of four hundred men, suddenly assembling in arms, and conducted by John Sullivan, an eminent lawyer and a man of great ambition and intrepidity, gained possession by surprise of the castle of Portsmouth, and confined the royal garrison till the powder-magazine was ransacked and its contents carried away.  Extremely controversial in his day, Somersworth's John Sullivan became the first "president" of New Hampshire. He served three terms in the role we now call governor. Sullivan cut his teeth as a young lawyer in Portsmouth, NH and became the first attorney in Durham. His goal in life was to be wealthy and his litigious pursuit of debtors in his hometown led to angry mobs surrounding his house. He served courageously, some say brazenly, in Revolutionary War battles, though he had been a friend of exiled British NH governor John Wentworth, whom he later replaced. Captured by the British, Sullivan became a courier between the two sides for which he was severely criticized. Sullivan joined the Seacoast NH uprising at Fort William and Mary in 1774, then served in a number of failed battles. George Washington was not fond of Sullivan, but called on him often. Major General Sullivan was among the troops at Quebec, and a leader at Trenton, Brandywine and Germantown. Washington called on him again in 1779 to literally wipe out all Native American settlements that threatened colonists in New York and Pennsylvania. Sullivan's March, as it was called, devastated Indian populations there as his troops destroyed all native housing and crops. He served in both the first and second Continental Congress. After the war, he returned to his law practice and was made a federal judge, though he was often too ill, often from alcohol, to serve. The NH town and county of Sullivan are among the many places dedicated in his name.
    1780 - General Benedict Arnold betrayed the US when he promised secretly to surrender the fort at West Point to the British army. Arnold, whose name has become synonymous with traitor, fled to England after the botched conspiracy. His co-conspirator, British spy Major John Andre, was hanged.
    1781 - The French fleet of 24 ships under Comte de Grasse arrived in the Chesapeake Bay to aid the American Revolution. The fleet defeated British under Admiral Graves at battle of Chesapeake Capes.
    1800 - African-American Gabriel Prosser's major slave revolt is disclosed by Mosby Sheppard’s two slaves Tom and Pharoah, who told him of the plot. Virginia Governor Monroe, who had heard earlier plans of slaves making swords, bullets, and organizing for an attack on Richmond, realizing secrecy was now impossible and worried others would join Prosser, acted quickly and openly. He appointed three aides for himself, asked for and received the use of the federal armory at Manchester, posted cannon at the capitol, called into service well over six hundred and fifty men, and gave notice of the plot to every militia commander in the State.  As a contemporary declared, “…upon that every evening just about Sunset, there came on the most terrible thunder accompanied with an enormous rain, that I ever witnessed in this State. Between Prosser's and Richmond, there is a place called Brook Swamp which runs across the high road, and over which there was a bridge. By this, the Africans were of necessity to pass, and the rain had made the passage impracticable.”
Nevertheless about one thousand slaves, some mounted, armed with clubs, scythes, home-made bayonets, and a few guns, did appear at an agreed-upon rendezvous six miles outside the City, but, as already noted, attack was not possible, and the slaves disbanded.  Over the next few days, the mobilized might of an aroused slave State went into action and scores of Negroes were arrested. Gabriel had attempted to escape via a schooner, Mary, but when in Norfolk on September 25, he was recognized and betrayed by two Negroes, captured, and brought back, in chains, to Richmond. He was quickly convicted and sentenced to hang, but the execution was postponed until October 7, in the hope that he would talk. James Monroe personally interviewed him, but reported, "From what he said to me, he seemed to have made up his mind to die, and to have resolved to say but little on the subject of the conspiracy." Along with Gabriel, fifteen other rebels were hanged on the seventh of October. Twenty-one were reported to have been executed prior to this and four more were scheduled to die after October 7. A precise number of those executed cannot be given with certainty, but it appears likely that at least thirty-five Negroes were hanged, four condemned slaves escaped from prison (and no reference to their recapture has been seen), while one committed suicide in prison.  The chasm between slave owners and their “property” widen with both becoming extremely “fearful” of each other. As Dr. Martin Luther King, Jr. was to point out in the next century, “violence begets violence.”
    1813 - Creek Indians massacred over 500 whites at Fort Mims Alabama.
    1820 - Birthday of George F. Root (d. 1895), Sheffield, MA.  American sacred music editor and composer. Root helped edit 75 musical collections, as well as composing several hundred original sacred melodies. One of these, “JEWELS,” is the tune to which is commonly sung the hymn, "When He Cometh."
    1838 - The first African-American magazine, “Mirror of Freedom,” begins publication in New York City.
    1839 - A hurricane moved from Cape Hatteras, NC to offshore New England. An unusual feature of the hurricane was the snow it helped produce, which whitened the Catskill Mountains of New York State. Considerable snow was also reported at Salem, NY.
    1850 - Honolulu was incorporated as a city.
    1856 - Wilberforce University was established in Xenia, Ohio under auspices of the Methodist Episcopal Church. In 1863, the university was transferred to the African Methodist Episcopal (AME) Church.
    1862 - At the Second Battle of Bull Run, the maneuvers of Gen. Stonewall Jackson and his teamwork with Gen. Lee were too much for the 45,000 Union troops under Gen. John Pope, who broke and retreated to Washington, D.C. Union losses were 1724 killed, 8372 wounded, 5958 missing. Confederate losses stood at 1481 killed, 7627 wounded, 89 missing. It is believed the almost 6,000 soldiers missing deserted and fled from the army.
    1890 - Congress approved the inspection of meat. It provided for the inspection of salted pork, bacon intended for export, and export swine, cattle, sheep, and other ruminants, due primarily to complaints of foreign buyers. It did not apply to meat in the United States. Importers of American meat were objecting to not only the quality, but to the “disease” brought by American meat products. Upton Sinclair's book, “The Jungle,” 1905, exposed the horror of meat packing in Chicago, which led the Pure Food and Drug Act and inspection of meat facilities and quality standards.
    1893 - Frances Folsom Cleveland, Mrs. Grover Cleveland, was the First Lady to have a baby at the White House when she gave birth to a baby girl, Esther.  The first child ever born in the White House was a granddaughter to Thomas Jefferson in 1806.
    1894 - Independent Christian evangelist and educator Bob Jones, Sr. was converted at age 11 to a vital Christian faith. Licensed to preach by the Methodists at 15, Jones maintained a lifelong fundamentalist view of the Bible. In 1926, at age 32, he founded Bob Jones University.
    1901 - Birthday of Roy Wilkins (d. 1981), grandson of a Mississippi slave, St. Louis, MO. Civil rights leader, active in the National Association for the Advancement of Colored People (NAACP), retired as its executive director in 1977.
    1905 – Ty Cobb made his Major League debut with a double off New York Highlander Jack Chesbro.  He finished with 4,191 hits, second-most in history.
    1907 - Birthday of actress Shirley Booth, born Marjory Ford (d. 1992), Brooklyn. She won the 1950 Tony award for her work in “Come Back Little Sheba” and the 1953 Tony for “Time of the Cuckoo.” Her later years were spent as Hazel on the TV sitcom of the same name.
    1908 - Birthday of singer-leader Willie Bryant (d. 1964), New Orleans, LA. Once employed Ben Webster, Benny Carter, Teddy Wilson, and many others.  As a disc jockey, he was known as the "Mayor of Harlem.”
    1918 - Birthday of Baseball Hall of Fame outfielder, Theodore Samuel “Ted” Williams (d. 2002), San Diego, CA.  He played his entire 19-year Major League career as the left fielder for the Boston Red Sox from 1939 to 1960, excepting service time during World War II and the Korean War, as a Marine fighter pilot.  Nicknamed "The Kid," "The Splendid Splinter," "Teddy Ballgame," "The Thumper," and "The Greatest Hitter Who Ever Lived," Williams is regarded as one of the greatest players in baseball history.  Williams was a seventeen-time All-Star, a two-time AL MVP, a six-time AL batting champion, and a two-time Triple Crown winner. He finished his playing career with a .344 batting average, 521 home runs, and a 0.482 on-base average, the highest of all time. His batting average is the highest of any MLB player with 302 or more home runs.  In 1957 and 1958 at the ages of 39 and 40, respectively, he was the AL batting champion for the fifth and sixth time.  He was inducted into the Baseball Hall of Fame in 1966, in his first year of eligibility.  In his induction speech, Williams included a statement calling for the recognition of the great Negro Leagues players: "I've been a very lucky guy to have worn a baseball uniform, and I hope someday the names of Satchel Paige and Josh Gibson in some way can be added as a symbol of the great Negro players who are not here only because they weren't given a chance."  This powerful and unprecedented statement from the Hall of Fame podium was "a first crack in the door that ultimately would open and include Paige and Gibson and other Negro League stars in the shrine."  Paige was the first inducted in 1971. Gibson and others followed, starting in 1972 and continuing off and on into the 21st Century.
    1924 - Trumpet player Kenny Dorham was born McKinley Howard "Kenny" Dorham (d. 1972), Fairfield, TX.
    1935 – Birthday of singer John Phillips (d. 2001), Parris Island, SC. Lead singer of The Mamas and The Papas: “Monday Monday,” “California Dreamin',” “Creeque Alley;” songwriter: “California Dreamin',” “San Francisco [Be Sure to Wear Flowers in Your Hair];”  actress MacKenzie Phillips' father.  The Mamas and The Papas were inducted into the Rock ‘n’ Roll Hall of Fame in 1998 and the Vocal group Hall of Fame in 2000.
    1943 - WALSH, KENNETH AMBROSE, Medal of Honor
Rank and organization: First Lieutenant, pilot in Marine Fighting Squadron 124, U.S. Marine Corps. Place and date: Solomon Islands area, 15 and 30 August 1943. Entered service at: New York. Born: 24 November 1916, Brooklyn, N.Y. Other Navy awards: Distinguished Flying Cross with 5 Gold Stars. Citation: For extraordinary heroism and intrepidity above and beyond the call of duty as a pilot in Marine Fighting Squadron 124 in aerial combat against enemy Japanese forces in the Solomon Islands area. Determined to thwart the enemy's attempt to bomb Allied ground forces and shipping at Vella Lavella on 15 August 1943, 1st Lt. Walsh repeatedly dived his plane into an enemy formation outnumbering his own division 6 to 1 and, although his plane was hit numerous times, shot down 2 Japanese dive bombers and 1 fighter. After developing engine trouble on 30 August during a vital escort mission, 1st Lt. Walsh landed his mechanically disabled plane at Munda, quickly replaced it with another, and proceeded to rejoin his flight over Kahili. Separated from his escort group when he encountered approximately 50 Japanese Zeros, he unhesitatingly attacked, striking with relentless fury in his lone battle against a powerful force. He destroyed 4 hostile fighters before cannon shellfire forced him to make a dead-stick landing off Vella Lavella where he was later picked up. His valiant leadership and his daring skill as a flier served as a source of confidence and inspiration to his fellow pilots and reflect the highest credit upon the U.S. Naval Service.
    1949 - Top Hits
“You're Breaking My Heart” - Vic Damone
“Room Full of Roses” - The Sammy Kaye Orchestra (vocal: Don Cornell)
“Some Enchanted Evening” - Perry Como
“I'm Throwing Rice (At the Girl that I Love)” - Eddy Arnold
    1952 - Captain Leonard W. Lilley of the 4th Fighter Interceptor Wing scored his first aerial victory. He went on to become an F-86 Sabre ace.
    1956 - White mob prevents enrollment of blacks at Mansfield High School, Texas, as school busing and desegregation comes to major conflicts across the nation.
    1957 - Top Hits
“Love Letters in the Sand” - Pat Boone
“Tammy” - Debbie Reynolds
“Whole Lot of Shakin' Going On” - Jerry Lee Lewis
“(Let Me Be Your) Teddy Bear” - Elvis Presley
    1959 - Bobby Darin's "Mack the Knife" debuts on the pop charts. The song from the "Three Penny Opera" will be Darin's biggest hit.
    1961 - No. 1 Billboard Pop Hit: "Michael," the Highwaymen. The five members were all freshmen from the same fraternity at Wesleyan University at Middletown, Conn. The song debuts at No. 100 on the Hot 100.
    1961 - 24-year-old Gene Chandler records "Duke of Earl" for Vee Jay Records. It will become the label's first number one and first million seller next February.
    1962 - A presidential hot line was installed between the White House, Washington, DC, and the Kremlin, Moscow, during the administration of President John F. Kennedy.
    1963 - Two months after signing an agreement to establish a 24-hour-a-day "hot line" between Moscow and Washington, the system goes into effect. The agreement came just months after the October, 1962 Cuban missile crisis, in which the United States and Soviet Union came to the brink of nuclear conflict.
    1965 - No. 1 Billboard Pop Hit: "Help!" The Beatles. The song is released in the U.S. two weeks before the film "Help!" opens in New York.
    1965 - Top Hits
“I Got You Babe” - Sonny & Cher
“Help!” - The Beatles
California Girls - The Beach Boys
“Yes, Mr. Peters” - Roy Drusky & Priscilla Mitchell
    1965 – Casey Stengel’s Hall of Fame managing career ended when he resigned as manager of the New York Mets on doctors’ orders.  Stengel managed 25 years in the Majors, highlighted by 10 World Series championships with the New York Yankees in the 1940s-1950s.
    1967 – Thurgood Marshall was confirmed as the first African-American Justice on the Supreme Court.
    1968 - The Beatles' "Hey Jude" is released.
    1968 - The Democratic Convention comes to an end. Reportedly Chicago's Finest invade McCarthy's headquarters, dragging staffers from their beds and beating them. CBS TV-anchor Walter Cronkite tells prime-time television viewers, "I want to pack my bags and get out of this city." On August 29, vice president Hubert H. Humphrey was nominated for president and Senator Edmund S. Muskie of Maine was named the vice presidential candidate. The convention, which began August 26, was the most violent in U.S. history. Antiwar protestors clashed with police and national guardsmen. Hundreds of people, including bystanders and members of the press, were beaten by police, some in full view of television cameras. George Wallace and Gen. Curtis E. LeMay would become third party candidates. On November 5, Richard M. Nixon would be elected president along with Spiro T. Agnew as vice president. The popular vote was Nixon 31,785,480; Humphrey, 31,275,166; Wallace 8,906,473. The actual decision was by the electoral vote with Nixon 302; Humphrey, 191 and George Wallace, 45. The Republicans gained four seats in the House, five in the Senate, although Democrats still held majorities of 58-42 in the Senate and 2453-192 in the House. The Republicans gained five governorships in the election.
    1972 - John Lennon and Yoko Ono were joined by Stevie Wonder, Roberta Flack and Sha Na Na at a fund raising concert for the One To One charity at New York's Madison Square Gardens. Several of the performances were later included on Lennon's, "Live in New York City" album.
    1973 - Top Hits
“Brother Louie” - Stories
“Live and Let Die” - Wings
“Let's Get It On” - Marvin Gaye
“Everybody's Had the Blues” - Merle Haggard
    1974 - The last episode of the regular TV series “The Brady Bunch.” The first show was aired September 26, 1969, starring Robert Treed as widower Mike Brady who has three sons and is married to Carol, played by Florence Henderson, who has three daughters.  Housekeeper Alice was played by Ann B. Davis, Sons Greg (Barry Williams), Peter (Christopher Knight) and Bobby (Mike Lookinland) and daughters Marcia (Maureen McCormick), Jan (Eve Plumb) and Cindy (Susan Olsen) experienced the typical crises of youth. The programs steered clear of social issues and portrayed childhood as a time of innocence. The program continues to be very popular in reruns in after-school time slots. There were also many spin-offs: “The Brady Kids,” (1972-74), a Saturday morning cartoon, ”The Brady Bunch Hour” (1976-88), a variety series, “The Brady Brides,” (1981), a sitcom about the two older daughters adjusting to marriages and the “Bradys” (1990), a short-lived dramatic series. “A Very Brady Christmas” (1988) was CBS's highest rated special for the season. In 1995, “The Brady Bunch Movie” appealed to fans who had watched the program 25 years before.
    1975 - James Taylor's "How Sweet It Is (To Be Loved by You)" peaks at #5 on the pop singles chart.
    1975 - KC and the Sunshine Band's "Get Down Tonight" tops the Billboard chart.
    1975 - Orleans enters the Billboard Hot 100 for the first time with "Dance with Me," which would climb to #6. They would return a year later with "Still the One" (#5) and again in 1979 with "Love Takes Time" (#11).
    1980 - Pat Benatar's "You Better Run" peaks at #42 on the pop singles chart.
    1989 - Billy Joel fired his manager and former brother-in-law Frank Weber after an audit revealed discrepancies. Joel later took him to court and sued for $90 million.
    1981 - Top Hits
“Endless Love” - Diana Ross & Lionel Richie
“Slow Hand” - Pointer Sisters
“Stop Draggin' My Heart Around” - Stevie Nicks with Tom Petty & The Heartbreakers
“(There's) No Gettin' Over Me” - Ronnie Milsap
    1981 - Jockey Bill Shoemaker rode John Henry to a nose victory to win the inaugural running of the Arlington Million, the first $1 million horse race, at Arlington Park in Illinois.
    1982 - A tropical depression brought torrential rains to portions of southern Texas. Up to twelve inches fell south of Houston, and as much as eighteen inches fell southeast of Austin. The tropical depression spawned fourteen tornadoes in three days. (David Ludlum) Record cold gripped the northeastern U.S. Thirty-one cities in New England reported record lows, and areas of Vermont received up to three inches of snow
    1983 - Colonel Guion Bluford, mission specialist on the third flight of the Space Shuttle Challenger, became the first African-American astronaut to fly in outer space.
    1986 - Steve Winwood's "Higher Love" hits #1 on the singles chart; Mick Jagger's "Ruthless People" peaks at #51 and David Lee Roth's "Yankee Rose" peaks at #16.
    1987 - Eight cities in California and Oregon reported record high temperatures for the date, including Redding, CA and Sacramento, CA where the mercury hit 100 degrees.
    1988 - Thunderstorms drenched Georgia and the Carolinas with heavy rain, soaking Columbia, SC, with 4.10 inches in three hours. Fresno, CA was the hot spot in the nation with a record high of 109 degrees. Duluth, MN tied their record for the month of August with a morning low of 39 degrees
    1989 - Top Hits
“Right Here Waiting” - Richard Marx
“Cold Hearted” - Paula Abdul
“Hangin' Tough” - New Kids on the Block
“Are You Ever Gonna Love Me” - Holly Dunn
    1990 - Paul Anka, who was born in Ottawa, Canada, is naturalized as an American citizen in Las Vegas. During the ceremony, his illegally parked car was towed away.
    1990 - Seattle Mariners become the first Major League team to have father-son teammates, signing Ken Griffey to play with son, Ken Griffey Jr .
    1993 - "Late Show with David Letterman" debuted on CBS-TV. CBS remodeled the Ed Sullivan Theater (on 54th Street in New York City) for Letterman, who had just spent over a decade on NBC ("Late Night with David Letterman"). The first musical guest to appear on the new show was Billy Joel. The show first started February 1, 1982 with the top ten lists, mail bag, stupid pet tricks, participation by the TV crew, neighbors, and on the new show, this was carried forward along with surprise people in the audience such as Paul Newman with his two gun salute, Martha Stewart. The show also featured his Canadian side-kick and very popular “hip” musician Paul Shaffer.  The final show aired on May 20, 2015. 
    1994 - Top Hits
“I’ll Make Love To You” - Boyz II Men
“Stay (I Missed You) (From "Reality Bites") - Lisa Loeb
“Wild Night” - John Mellencamp with Me Shell Ndegeocello
“Fantastic Voyage” - Coolio
    1997 - The Houston Comets defeated the New York Liberty, 65-51, to win the first WNBA title. Houston was led by the new league's Most Valuable Player, Cynthia Cooper, who scored 25 points.  
 1999 - Top Hits
“Bailamos” - Enrique Iglesias
“Genie In A Bottle” - Christina Aguilera
“Summer Girls” - LFO
“Unpretty” - TLC
    2000 - As Braves come to bat in the bottom of the ninth inning trailing the Reds, 4-2, a power spike causes most of the lights to go out at Turner Field causing a 12-minute delay. As the Atlanta crowd waits for play to resume it is treated to a rendition of the song, "The Night the Lights Went Out in Georgia."
    2002 - After marathon negotiation sessions to avoid a players' strike just hours away, Bud Selig announces the players’ union and owners have reached a settlement on a new four-year CBA without the need of a work stoppage. The new agreement, called 'historic' by the commissioner, gives the owners the economic restraints they wanted as the players are assured no teams will be contracted until 2007 season with a revenue sharing plan will gradually be implemented during the span of the contract.
    2002 - Bruce Springsteen fans flock to stores for the release of "The Rising," the Boss' first album with the E Street Band since 1987.
    2003 - Top Hits
“Shake Ya Tailfeather” - Nelly, P. Diddy & Murphy Lee
“Crazy In Love” - Beyonce Featuring Jay-Z
“Right Thurr” - Chingy
“P.I.M.P.” - 50 Cent
    2005 - In the long tradition of Bronx Bombers, Alex Rodriguez becomes only the second right-handed batter in Yankees history to hit 40 homers in a season. The Yankee's third baseman joins Joe DiMaggio, who hit 46 homers in 1937, the only time ‘Joltin' Joe' reached the 40 mark.
    2011 – Vermont suffered the worst floods in 100 years.
    2014 - California passed a ban on disposable plastic grocery bags; the ban will be the first implemented across a state, though many cities across the U.S. already have such bans in place.



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(chronological order)

- DocuSign is now the electronic signature of choice
   for the federal government
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Not Brought Forward in Marlin Press Release
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   This May Prevent You from Being Licensed in the Future
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  600 Brokers Expected to Attend
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   Yells John Kenny, Lease Police
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   to Dull Lender,” reports Wall Street Journal
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    Not Online Lenders in Small Biz Loan Customer Satisfaction
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   29th Annual National Funding Conference
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   “On the Road Ahead”
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   One Side Never Caught the Mistake or Was it?
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    Nick Gibbens, CLFP, from Bank of the West
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   of Disgruntled Customers
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   But Doesn't Pay Funder for Three Months
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that Brokers Need Licenses and Lessors Can’t Pay Unlicensed Brokers
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   Menkin has an Epiphany
- Alternate Finance Companies - Subprime
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