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Collections Opportunity

Seeking an experienced collector to join its growing staff. Candidates should have a minimum 2 years of high volume collections experience, preferably in commercial vehicle lending or leasing. Competitive salary plus comprehensive package available. For consideration please fax resume in confidence to R.Z. 718-392-3933 or e-mail to

Wednesday, August 8, 2007

756! Congratulations Barry Bonds and the San Francisco Giants


Marlin “What me! Worry?” kid 2nd Quarter
    More competition for Marlin Leasing
        Menzel calls “assessment...very insightful”
            Classified Ads--- Outsourcing
Leasing industry “fairly stable” says Fitch
    CIT remains strong in exiting home lending
        Classified Ads—Help Wanted
            GE $47 Million claim
Cartoon---We’re from New Jersey
    Sales Makes it Happen—by Christopher Menkin
    “What is the best use of my time now!”
        Resource America (Leaf Financial) 3rd Quarter
AerCap Holdings Second Quarter
    Fitch U.S. Bond Market Review
        MicroFinancial $30MM Sovereign Bank
CSI Leasing Acquires Company in Spain
    Greater Bay Bancorp (Matsco) 2nd Quarter
        Amid Turmoil, Fed Holds Steady
    Major bank stop home equity loans,credit lines
HomeBanc shutters mortgage business
    Venture Capital Investment High 2nd Quarter
        News Briefs---
You May have Missed---
    California Nuts Brief---
        "Gimme that Wine"
Restaurant Review: Forbes Mill, Los Gatos?
    Calendar Events
        Snapple Real Facts
    Today's Top Event in History
This Day in American History
    Baseball Poem
            Daily Puzzle

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


Marlin “What me! Worry?” kid 2nd Quarter

by Christopher Menkin

Daniel P. Dyer, Chairman and CEO of Marlin Business Services Corp.

Marlin Leasing will announce at their telephone conference call at 9am, EDT, this morning that lease production was down slightly for the second quarter, their first downward trend since the firing of the vice-president of the Broker Division, Michael Bennie, the Gary Shivers "resigning" as president with no president named for over six months.

In the good news, Marlin Leasing reported to the SEC in a press release: "For the six months ended June 30, 2007, net income was $10.2 million compared to $10.0 million for the same period in 2006...

And the “What me! Worry?” kid reports: ""Marlin continues to perform with solid returns posted for the quarter. Asset quality continues to perform solidly in line with our key credit performance indicators."

The press release doesn’t reveal some of the statistics, such as:

Indirect sales were down almost 5%, according to the report, while direct sales were up 1.6%.

Their investors evidently felt the wind of the announcement as the close of trading Thursday at 4pm was $18.49, down from their high of the year at $24.40:

From the SEC filing:

(in thousands, first six months))
60+ Days 6/30/2006 6/30/2007
Past Due
cies $3,867 $5,824
Lease Equip. $97,871 $97,260
Net interest
and Fee
Margin 11.92% 10.63%

* As of June 30, 2007 the Company had $182,000 of outstanding purchased receivables balances for its factoring business "Marlin Trade Receivables."

* As of June 30, 2007 the Company had $7.7 million of loan balances outstanding for the new Business Capital Loan product compared to $4.8 million at the end of the prior quarter and none for the
second quarter of 2006.

Insiders tell us:

“Marlin's VP of IT, Marcel Gilbert. He's another one that left without (supposedly) another job lined up. “

“Ken "You gotta follow the script" Sanders is no longer there. Poor training has been a big problem for new sales reps.”

There is more, but perhaps what speaks about what is happening at a place that was reportedly fun to work at one time: the full SEC press release filing on August 7, 2007, including financial statement:



More competition for Marlin Leasing et. al.

The former Vice President, Business Development of Pentech, and current president of the United Association of Equipment Leasing, Brad Peterson, says it is true: AdvanceMe is backing a new small ticket leasing company that he will lead:

“First, Pentech communicated my resignation back in April to all our customers and others within the industry. I don't believe anyone at Pentech is consciously trying to avoid your questions or ‘screening’ Leasing News. I have a great deal of respect for the folks at Pentech and over the past few months we both have spent a lot of time supporting each other's future direction.

“In regards to my opportunity with Capital Access Network, we are in the process of setting up a new leasing company that will fund transactions for third party broker/lessors. The name of the new company will be PredictiFund, Inc. and we will hopefully be ready to accept business in the next 30-60 days.

“I recall seeing Leasing New's comments last March/April regarding AdvanceMe's entry into the leasing market. Quite frankly, very few people within CAN/AdvanceMe were aware of the business discussions that were taking place at that time, so I am certain your inquiry was answered in earnest.

“I believe PredictiFund will be a great addition to the broker/lessor marketplace funding transactions that are being turned down today. We will utilize one of the most powerful and sophisticated scoring models I have ever seen to make credit decisions and will manage the risk associated with the level of transactions we fund through some very unique business processes.

“PredictiFund will focus on the broker/lessor market for originations...we are members of EAEL, NAELB and UAEL, of course.

I will be in Costa Mesa, Teaneck, Tucson and Atlanta this fall. I've got plenty to do!!”

Brad Peterson
1120 Horizon Drive
Marshall, MN 52658
Phone: 507-532-5900
Fax: 507-532-5909

Here is a press release from U.S. Bancorp Manifest Funding Services has naming Brad Peterson as Senior Vice President and General Manager. It gives a good professional biography:



Menzel calls “assessment...very insightful”

“Thanks for reading between the lines of PCB's earnings release and filings. Your assessment is very insightful. The reasons for the sale had a lot more to do with loan-to-deposit ratios, imbedded IT
conversion expense, and net interest margin squeeze than the loss rates in the auto and leasing portfolios. The loss rates in those portfolios were within industry tolerances with performance upside with more efficient collection management than the Bank could provide.

“ The Bank was able to take substantial and excess loss reserves into current income by selling the assets. The prices paid for the two portfolios are good indicators of the quality of those portfolios. The releases and filings were PCB's spin in defense of the severe stock price drop over the last year. Other events and announcements by the Bank are better indicators of why the leasing group was sold. We are very excited to be part of an experienced, knowledgeable and entrepreneurial funding organization.

“All of our LEAF email addresses are operational
by using the first initial and last name”

Regards, Paul

Paul J. Menzel, CLP
Third Party Funding
P.O. Box 60607
Santa Barbara, CA 93160-0607
1 South Los Carneros Road
Goleta, CA 93117
Dir Ph# (805)560-1650

See Second paragraph for start of comment:



Classified Ads--- Outsourcing

These are individuals and companies who provide service for the leasing industry. They are considered "outside" companies as they are independent contractors. Here are the basic categories in our "free" classified ads, outsourcing:

Asset Management
Back Office
Human Resources
Info Systems
Lease Portfolio
Senior Management
Site Inspection

They include many services, such as:

Ez Title Direct Team
HASSLE-FREE Vehicle Registration!"
Auto-Dealers, Wholesalers, Fleet Companies, Leasing Companies, Vendors, Brokers and the General Public. Angel Nazir,
GM 916-370-7301/

Consultant: Ridgefield CT.
Lisa Lersner w/20 years exp. specializing in leasing technology now providing lessor selection and management services, including the securing of debt and equity and acquisition guidance services.
Go to

Human Resource Consultant: New York, NY
Employee Relations, Recruiting, Benefits,employee customer surveys, plus payroll administration "ON-LINE" services-- AND IN PERSON at your location
Please visit:

Collector: Nationwide
End of lease negotiations & enforcement. Third-party collections. Skip-tracing. Background checks. Credit & asset investigations. 15+ years in leasing industry. Providing services to clients nationwide. 800-824-0234

Please visit:

To place a free “job wanted” ad here, please go to:

For a full listing of all “job wanted” ads, please go to:



Leasing industry “fairly stable” says Fitch

Fitch’s outlook for the U.S. equipment lease sector for the second half of 2007 is positive in spite of the current volatile economic conditions. Business investment and spending on new equipment is expected to remain fairly stable, Fitch reports.

Overall equipment financing activity during first quarter 2007 was strong, with total new business volume exceeding first-quarter 2006 total business volume. Fitch expects new origination volume to continue to increase through the remainder of 2007.

In addition, performance has been supported by the reliable underwriting and servicing of portfolios. Since the end of 2001, there has been acceleration in spending on equipment and software, as well as increased investment in nonresidential structures. In general, capital investment has been broadbased across equipment types, such as medical and electrical equipment and computers.

“Year to date, the 2007 equipment ABS issuance volume of $2.6 billion is a decline of 40% and 47% from 2006 and 2005 first-half issuance volume of $4.3 billion and $4.9 billion, respectively.

“ A total of four equipment transactions closed during the first six months of 2007. Overall issuance volume was dominated by the AG/CE sector from annual issuers John Deere and CNH Capital,
which totaled $2.2 billion in issuance. Small and middleticket sector issuance consisted of two transactions from two first-time issuers (LEAF Financial Corporation and Balboa Capital Corporation) totaling $376.9 million in issuance. Both transactions were structured with a financial guaranty insurance policy as credit support. The significant decline in 2007 issuance was primarily driven
by the nonissuance from Caterpillar Financial Services (CAT) and CIT Group (CIT), which have historically tapped the securitization market during the first half of the year.

“ During the first half of 2006, CAT and CIT closed two transactions totaling $2.0 billion in issuance. Fitch expects issuance volume during the second half of 2007 to increase, although total 2007 issuance will likely fall short of 2006 and 2005 issuance volume.”

Fitch Director Du Trieu told Leasing News the full report should be read, not just the highlights regarding delinquency.

Following typical historical trends, U.S. equipment lease delinquency rates increased slightly through the first six months of 2007, with delinquencies up slightly across both the small/mid-ticket and large ticket portfolios, he reported in the latest edition of 'The ABS Equipment Expo'. In a telephone interview, he said it was nothing to be alarmed about. The Balboa, CIT, among other syndications were solid, according to the report.

It should be noted that both the small/mid-ticket and large ticket portfolios experienced increasing delinquency trends. These are minor, following historic trends. The small/mid-ticket portfolio 60+ day delinquencies totaled 1.00% in July 2007 versus 0.91% at year-end 2006 and 0.63% at first quarter end 2006. Similar performance was seen on the large ticket portfolio, with 0.52% 60+ day delinquencies in July 2007 compared to 0.37% and 0.31% at year end 2006 and second quarter end 2006, respectively.

As of the July 31, 2007 reporting period, 60+ day delinquencies for Fitch's Equipment ABS Delinquency Index increased to 0.69% with a year to date average 0.67% versus 0.43% in July 2006 and 0.49% six-month average . 'The slight increase in 60+ day delinquencies follows similar seasonal patterns witnessed in prior years, where first quarter delinquencies reached a peak, but subsequently declined over the remainder of the year,' said Director Du Trieu. 'Fitch expects 60+ day delinquencies to follow this trend and decline in throughout the remainder of 2007.'

Full ABS Fitch Newsletter report Leasing/Small Ticket Deliquencies:



CIT remains strong in exiting home lending

by Christopher Menkin

CIT is in very strong shape. Investors should read the report on the leasing industry by Fitch, that demonstrates the strength of CIT and the leasing industry itself (“Leasing industry “stable” says Fitch
, above:) This is not the subprime mortgage industry.

The CIT Group plans to exit the home lending business in an orderly fashion and has taken steps to substantially reduce loan originations. While there have been a number of inquiries from possible buyers, the Company recognizes that there is decreased secondary market liquidity for home lending portfolios. It plans to liquidate or exit the business through one or more transactions over time on economically sound terms and conditions.

The Company’s historical home lending credit indicators, i.e. delinquency and foreclosure rates, have consistently outperformed overall subprime industry metrics according to industry data published through June 30, 2007.

“We entered the third quarter with considerable liquidity and have since raised an additional $3 billion in July via a securitization of student loan receivables at an attractive financing cost,” said Joseph M. Leone, Vice Chairman and CFO of CIT.

“At the same time we continue to experience ample investor appetite and continuity in our $6 billion commercial paper program. Our alternate liquidity sources total almost $15 billion with $7.3 billion of committed unsecured lines of credit and $7.4 billion of committed liquidity available under ABS facilities.

“As we look to execute on our remaining funding needs of $6-$8 billion this year, we will continue to be disciplined and opportunistic in accessing investor interest in the unsecured capital markets as well as future student loan and equipment securitizations.”

CIT announced that the June 30, 2007 fair value adjustment to the home lending portfolio reflects a 6.2% discount to the unpaid principal balance of the mortgage loans and was derived based on management’s estimate of fair value and third party market valuation data.

The Company expects home lending charge-offs to be approximately $45-50 million in the third and fourth quarters, which is consistent with the fair value adjustment. Additionally, expected earnings from this portfolio are estimated at $40-50 million in each of the next two quarters, excluding charge-offs and provisions as well as any sales or exit costs. These expected earnings will be available to bolster the home lending equity base and support future fair value adjustments, if any."

CIT SEC filing (90 pages:)[1].pdf



Leasing Industry Help Wanted

Accounts Manager

Phoenix, AZ or virtual office

Responsible for developing and managing Vendor Programs with equipment manufacturers and vendors
Click here for more detailed information.

Manufacturers' Lease Plans Inc. (MLPi) is the pioneer of short-term rental and operating lease financing, funding high technology equipment manufacturers since the 1960s. 


Collections Opportunity

Seeking an experienced collector to join its growing staff. Candidates should have a minimum 2 years of high volume collections experience, preferably in commercial vehicle lending or leasing. Competitive salary plus comprehensive package available. For consideration please fax resume in confidence to R.Z. 718-392-3933 or e-mail to


Boca Raton, FL

CPA, 5 yrs leasing exp. min. 15 yrs in accounting. For more info, please
click here

Océ Financial Services, Inc. is a dedicated captive leasing company, consolidating all lease-related activity for Océ North America and Océ Imagistics.

EFD Credit Officer

EFD Credit Officer
Walnut Creek, CA

You will underwrite equipment financing and leases of generally high complexity. Requires a BA & 5+ years of relevant experience. CLICK HERE for a detailed description and resume submission info.

Visit, for more information. Bank of the West and its subsidiaries are equal opportunity/affirmative action employers.

Managed Services Division

Managed Services Division
Portland, OR.

Seeking experienced professionals in our Managed Services Division.

    * Contract Accounting Specialist
    * Collections Specialist
    * Customer Service Representative

Visit, for more information. Bank of the West and its subsidiaries are equal opportunity/affirmative action employers.

Operations / Doc / Funding



Full Time Documentation / Funding Clerk

Position Available Immediately

Ground floor opportunity to join fast growing Independent Lessor. Experience required. Word and Excel skills a must.
Benefits provided. Bonus plan participation.
Salary commensurate with experience.
Please fax resume to 714-556-3765. Outline salary expectations.

Sales Representatives

Sales Reps

Due to expansion, we have openings in Richmond VA, Raleigh NC and Washington DC. To see job information, click here. Submit resume to

Since 1986, CSC Leasing has worked with well-managed companies who appreciate the value of leasing.



GE $47 Million claim

Again, a site inspection would have curtailed this alleged fraud.
While it involved software primarily, site inspections are common in the large ticket marketplace.

This occurred in Japan where GE signed a lease to Toshiba for software from Parametric Technology Corporation ( PTC.) According to the filing, an employee at Toshiba returned the software and used the money to pay for an earlier software purchase from PTC that had been made without his company's approval. This did not happen once. From 2003 to 2006 it happen ten more times.

GE Capital Leasing advanced over $62 million to fund software purchases over the three-year span, and approximately $21 million was paid back, according to court filings.

There was no verification that the software was received, was being used, or even existed.

The same thing happened with CyberNet, Allserve, Today's Destiny, among others, that the equipment did not exist. The same can be said for NorVergence leases where the actual equipment cost NorVergence $1200 and can now be bought used at Ebay for $500. It was a switch. The same piece of equipment for a $10,000, a $50,000 and several of the $100,000 leases. When the telecom industry changed to lower prices, VOIP, the service agreements caught up with NorVergence. A site inspection would have revealed the truth, as they would have for CyberNet, Allserve, Today's Destiny, and now leases with Toshiba.






Sales Make it Happen

by Christopher Menkin

“What is the best use of my time now!”

I evolved from an independent lease salesman to a broker to a discounter to a lessor with seven partnerships at one time to fund leases, primarily in Silicon Valley. Not only did I read as much as I could on leasing when I started, but also took sales courses, read sales books, and took other self-improvement courses as I wanted to learn to sell. I had never done this before. I really started to prospect by primarily cold calling on companies from Belmont to South San Jose, California.

The Alan Lakein course really was very helpful. His plaque I still have on the wall today. This is a graphic version as the original is engraved with the six “rules” on aluminum foil:

I thought about what was “A” and “C.” It hit home about sales: to make the best use of my time NOW. I realized perhaps I didn't know what was an “A” or a “C.”

To find out how much time I was actually selling, I bought a series of small monthly calendars, 31 days 3” x 3” and decided to write down what I was doing every day. I divided it into functions: traveling, telephone, credit, sales, lunch. In the beginning, I would do it during the day, and later on I would do it at the end of the day, often rounding it off as much as possible, as every Saturday I would add the category time up and then put it into percentages.

While the actual time was helpful, it was the percentages that revealed the most.

The first thing I realized is that I was spending too much time traveling. In those days, I worked out of the car with an answering service, often actually driving the application to the source, whether it was a half hour away or an hour and a half, which was the main source ( each way, too.)

I took the next good size commission and rented an office in Santa Clara, although I lived in San Bruno, at the time, 45 minutes to an hour away. This was a central location. It was two rooms, and I subleased the second room to a vendor (and also got his business, too.) I went to Levitz with my late wife and bought furniture with 90 days to pay and 12 months at perhaps 25% ( which I could pay off early, but didn't.) I wanted customers, vendors, and others to visit me more often rather than traveling to see them, plus I could work the phone after 4pm for follow-up and credit.

I was on the road when the weather was good, and on the telephone when it was raining hard. I remember walking into a machine shop when it was almost 100 degrees in the summer and the machinist asking what I was doing here in the heat. I told him I was trying to make a sale. He said he was about to order a new lathe and instead of using Westinghouse, anyone who was working in this heat deserved the financing.

As I saw I was spending too much time on credit (getting a “combo,” meaning a verbal and written credit report by mail) and doing banks and trades, I hired a part-time secretary. The idea was to see if I was wasting my time, plus to get an idea if the lease was doable. She took these over plus writing follow-up letters. I did letters, cards (even birthdays in those days, too) and anything to keep the name in front of the person who I got a business card. The more contacts I had, the more follow-up time was recorded. The calendar book expanded to admin., PR (associations I had joined) and always the idea was how much time was I actually spending on sales.

No matter how much I tried, the sales percentage really never increased very much, just the other categories. But it also never went the other way, either. Throughout the growth, I kept this time diary. It kept me focused that sales was my “A.”

To view other "Sales makes it Happen" article, please go here.





Resource America, Inc. (Leaf Financial) Reports Operating Results for
the Third Fiscal Quarter Ended June 30, 2007

PHILADELPHIA, PA, ) -- Resource America, Inc. (NASDAQ: REXI) (the "Company") reported income from continuing operations of $6.0 million and $15.8 million for the third fiscal quarter and nine months ended June 30, 2007, respectively, as compared to $3.1 million and $13.4 million for the third fiscal quarter and nine months ended June 30, 2006, respectively, an increase of $2.8 million (91%) and $2.4 million (18%), respectively.

The Company's discontinued operations for the three months ended June 30, 2007 was negatively impacted primarily by $1.9 million of interest expense on the Company's 2005 and 2004 IRS tax assessments related to its legacy loan portfolio and a $374,000 write down taken on a held for sale property, net of a tax benefit of $811,000.

Full press release at:,%20Inc.%20-%20Investor%



AerCap Holdings N.V. Reports Second Quarter 2007 Financial Results

AMSTERDAM, Netherlands,


Second quarter 2007 net income excluding non-recurring charges to interest expense from refinancing of securitized bonds was $58.2 million and excludes a non-recurring charge to interest expense of $24.0 million, net of tax, in connection with the refinancing of Aircraft Lease Securitization (ALS) bonds. Second quarter 2007 net income was $34.2 million including this charge.
-- Second quarter 2007 revenue was $246.6 million, up 51% over second quarter 2006.
-- Sales revenue in the second quarter 2007 totaled $84.3 million and was generated from the sale of three aircraft, six engines and the sale of parts inventory.
-- Total assets were $4.4 billion at June 30, 2007, a 23% increase over total assets of $3.6 billion
at June 30, 2006.
-- Committed purchases of aviation assets scheduled for delivery in 2007 are $798.7 million thus far, of which $458.6 million were delivered in the first half of 2007.
--On August 6, 2007 we closed a secondary offering of 20 million of our shares, increasing the percentage of our shares held by public investors from 31% to 54% and to 58% assuming the underwriters exercise their over allotment option.

Significant events during second quarter 2007 previously disclosed:

--- We closed a refinancing of debt on 70 aircraft on May 8, 2007
through the issuance of $1.66 billion of securitized bonds.
-- We signed an agreement for the purchase of an additional 10
new A330- 200 aircraft with Airbus on May 14, 2007.

Full press release:


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

Fitch U.S. Bond Market Review: Industrials Drive Issuance Boom in Q2 2007

Fitch Ratings-New York- Fitch Ratings has published a new report offering a macro view of par rating activity and issuance patterns for the U.S. bond market through the second quarter of 2007, as well as a look at the profile of bonds scheduled to mature through 2009 by rating and industry.

The par value of U.S. corporate bonds affected by upgrades totaled $34.6 billion in the second quarter, or 1.0% of market volume, while downgrades (including defaults) affected $23.8 billion in bonds (0.7% of market volume). Rating changes for the most part were concentrated at the speculative grade level. Investment grade issues in contrast experienced relatively little activity. Investment grade rating activity in total, considering both upgrades and downgrades affected less than 1% of investment grade volume. Speculative grade upgrades totaled $20.3 billion (3.3% of sector volume) while downgrades totaled $14.1 billion (2.3% of sector volume).

The par value of bonds maturing through the end of 2007 totals $194.9 billion. The bulk (95%) of this volume ($186.0 billion) consists of investment grade bonds with the remaining volume ($8.9 billion) residing at the speculative grade level. Approximately 1.3%, 3.4% and 6.1% of speculative grade volume is scheduled to mature in 2007 (six months), 2008 and 2009, respectively.

As of June 30, 2007, the U.S. Corporate Bond Market totaled $3.7 trillion in outstanding par value split 82% investment grade and 18% speculative grade. Across the pool of industrial bonds, the par value share of issues rated speculative grade is substantially higher at 31%.

New issuance totaled $256 billion in the second quarter of 2007, up 11% quarter-over-quarter and 19% year-over-year (relative to 2006's second quarter issuance activity).

'The second quarter's strong results were mostly due to a very meaningful pick-up in issuance among industrials' said Paul Mancuso, Senior Director, Fitch Credit Market Research. 'Industrial new issuance totaled $112.9 billion compared with $83.8 billion in the first quarter and $71.2 billion in the second quarter of 2006.'

Full report here:


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

MicroFinancial Incorporated Announces $30 Million Bank Credit Facility

WOBURN, Mass.----MicroFinancial Incorporated (AMEX: MFI) a financial intermediary specializing in vendor-based leasing and finance programs for microticket transactions, announced that its operating subsidiary, TimePayment Corporation, has secured a three year, $30 million revolving line of credit. The new credit facility, led by Sovereign Bank (NYSE: SOV), replaces the prior $30 million facility under more favorable terms and conditions.

Richard Latour, President and Chief Executive Officer said, "We are pleased to have entered into this bank facility which, when combined with our strong cash flow from operations, will provide us with increased flexibility to grow our business. The improved economics and terms demonstrate a continued confidence in our Company's ability to execute our strategic and operational goals. We are proud to have Sovereign Bank, which is the 18th largest bank in the United States with approximately $82 billion in assets, as our partner".

About MicroFinancial

MicroFinancial Inc. (AMEX: MFI), is a financial intermediary specializing in microticket leasing and financing. MicroFinancial has been operating since 1986, and is headquartered in Woburn, Massachusetts.


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

CSI Leasing Acquires Company in Spain

ST. LOUIS — CSI Leasing, a global IT equipment lessor, continued its aggressive global expansion strategy by acquiring an IT renting company in Barcelona, Spain. Ecocatalunya, S.A. has been renamed CSI Renting de Tecnología, S.A.U., and joins 14 leasing companies worldwide under the CSI Leasing umbrella. CSI now leases IT equipment to organizations in more than 25 countries.

“Spain has been a bright spot in the European economy for several years, and we’re excited that we now have a platform to bring CSI’s offering directly to the growing Spanish market. In addition to serving Spanish companies, this will help us provide broader coverage for our multinational customers across the globe,” says Steve Hamilton, executive vice president for international administration in St. Louis.

CSI Leasing, Inc. is one of the largest independent IT leasing companies in the world, helping companies throughout the Americas and Europe implement flexible leasing programs that reduce the costs, risks and hassles of using technology equipment. A pioneer in the IT leasing arena in 1972, CSI has operations in North, Central and South America and throughout Europe. More information is available at


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

Greater Bay Bancorp Reports Financial Results for the Second Quarter of 2007

(thousands dollars) 6/30/07 3/31/07 12/31/06 7/30/06 6/30/06
Matsco/GBC $ 8,169 $ 9,160 $7,583 $ 8,323 $ 7,257

EAST PALO ALTO, Calif.--- --Greater Bay Bancorp (Nasdaq:GBBK), a $7.3 billion in assets financial services holding company, today announced results for the second quarter of 2007 and six months ended June 30, 2007.

For the second quarter of 2007, the Company's net income was $17.5 million. For the first six months of 2007, net income was $35.2 million.

Full Release:


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

News Briefs----

Amid Turmoil, Fed Holds Steady

Major bank stops approving home equity loans, credit lines

HomeBanc shutters mortgage business

Venture Capital Investment Volume in Q2 2007 at Highest Level Since 2001

Cisco is entering a new boom period, CEO says

Mexican tycoon Slim is world's richest man, 'Fortune' says

Productivity rebounds as wage pressures ease

Apple unveils new iMacs



You May have Missed---

Barry Bonds' Home Run Record Tainted by Mechanical Device



California Nuts Briefs---

CHP will patrol streets of Oakland



“Gimme that Wine”

California North Coast Grape Harvest Begins

Grape Harvest Photo: Napa Valley

Napa Grape Growers Predict "Exquisite" 2007 Harvest

Leo McCloskey: “You Shouldn’t Have to Pay for Terroir”

Rothschild baron who revived the Chateau Lafite wine dies

'Bottle Shock' cameras roll at Buena Vista Winery

Wine Prices by vintage
US/International Wine Events
Winery Atlas
Leasing News Wine & Spirits Page
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.



Restaurant Review

Eric Asimov of NY Times at “Forbes Mill?”

(for other reviews: please go here:



Calendar Events This Day

Bonza Bottler Day
To celebrate when the number of the day is the same as the number of the month.

The Day to Create
A day to increase awareness of individual and organizational potential to solve problems and make things happen. All of use have this potential but may not realize it. Learn you innovative capacity and plan activities that increase it. Rediscover your creative spark.

National Waffle Day

Sneak Some Zucchini onto Your Neighbor's Porch Day

Tanzania: Farmers’ Day
National holiday. Also called “Nane Nane.”

Saint feast Days



Canada has the longest coastline of any country in the world.



Today's Top Event in History

1933-Louisiana Governor O.K.Allen pardon’s Huddie William Ledbetter, better known as the folksinger “Leadbelly.,” He got the name while in prison in Texas for being very strong. He was a very big man with an explosive temper, and was in for murder. He was pardoned by Texas Governor Pat Neff from a thirty year sentence, something that was unheard of in Texas and from the very conservative Neff, but it is said, he sang a song of why he should be released that so affect the warden, and then Neff, that they released him. Leadbelly was one of my father’s favorite folksingers, that he played all the time, and my first memories of my father are listening to this music in the forties. I remember sitting on his knee, perhaps the earliest recollection of my father, who I miss more and more as each year goes by.


This Day in American History

    1588 – This event is mentioned as history may have been quite different for the founding of the United States. The Spanish Armada, a fleet of 130 huge ships, met defeat at the hands of English sailors and their smaller, more maneuverable vessels. Then a series of wicked Atlantic storms off the coast of Southern England took their toll. Only half of the 130 Spanish ships managed to limp ... at best ... home. The 60 or so English ships, plus the weather, saved England from the Spanish invaders.
    1814-Esther Hobart McQuigg Morris was born at Tioga County, NY, but eventually moved to Wyoming Territory, where she worked in the women’s rights movement and had a key role in getting a women’s suffrage bill passed. Morris became justice of the peace of South Pass City, WY, in 1870, one of the first times a woman held public office in the US. She represented Wyoming at the national suffrage convention in 18795. She died April 2, 1902, at Cheyenne, WY.
    1844- Brigham Young chosen Mormon Church head following Joseph Smith death.
    1866-Birthday of Mathew Henson, famous African-American explorer, born at Charles County, MD. He met Robert E. Peary while working in a Washington, DC, store in 1888 and was hired to be Peary’s valet. He accompanied Peary on his seven subsequent Arctic expeditions. During the successful 1908—09 expedition to the North Pole, Henson and two of the four Eskimo guides reached their destination Apr 6, 1909. Peary arrived minutes later and verified the location. Henson’s account of the expedition. A Negro Explorer at the North Pole, was published in 1912. In addition to the Congressional medal awarded all members of the North Pole expedition, Henson received the Gold Medal of the Geographical Society of Chicago and, at 81, was made an honorary member of the Explorers Club at New York, NY. Died Mar 9,1955, at New York, NY.
    1866-The first queen to visit the United Sates was Queen Emma, widow of King Kamehameha IV of the Sandwich Islands ( later to be re-named Hawaii), who arrived in New York City from England on the Cuuard liner Java. She was received on August 14,1866 by President Andrew Johnson and introduced to his family. American business had already started to invest in the island, bringing coffee, potatoes, hybrid sugarcane, horses and cattle.
    1878 - The temperature at Denver, CO, soars to an all-time record high of 105 degrees.
    1899-Birthday Of Russell Markert, American choreographer Russell Markert, born at Jersey City, NJ. He founded and directed the Radio City Music Hall Rocketts from 1932 to 1971. He died December 1, 1990, at Waterbury, CT.     1899 - A.T. Marshall of Brockton, MA patented the refrigerator. It was not practical in cost for many households and “ice” refrigerators were common until perhaps World War II.
    1876-Thomas Alva Edison of Menlo Park, NJ, obtained a patent for a “method of preparing autographic stencils for printing”. He went on to improve the “mimeograph,” who until the advent of the photocopier, was the most widespread method of paper communication and duplication.
    1896-Birthday of Marjorie Kinnan Rawlings, American short story writer and novelist ( The Yearling), born at Washington, DC. Rawlings died at St. Augustine, FL, December 14, 1953.
    1900-Birthday of bandleader Lucky Millinder, Anniston, AL.
    1911 - Membership in the U.S. House of Representatives was established at 435. Every 211,877 residents of the U.S. were represented by one member of Congress.
1918 –Birthday alto Sax player Benny Carter Birthday (Died July 12,2003)
    1918-Two days after the Battle of Marne ended, the British Fourth Army mounted an offensive at Amiens with the objective of freeing the Amliens-Paris railways from bombardment by the German Second and Eighteenth Armies. More than 16,000 German prisoners were taken in two hours of fighting the first day. The German forces were forced back to the Hindenburg’s line by September 3. This battle is considered a turning point by many historians because of its impact on the psyche o f Germany. August 8 was described by General Erich Ludendorff as a “Black Day” for Germany.
    1923-Birthday of singer Jimmy Witherspoon, Gurdon,AR.
    1926-Birthday of trombonist Urbie Green, Mobile, AL.
    1922-Louis Armstrong, 22 years old, leaves for the Windy City. His autobiography is fascinating to read about his version of the beginnings of jazz. He perhaps is not only the best known jazz musicians, but considered even today to have been quite ahead of his time. On old records, it is easy to pick him out playing the trumpet. He had tone, melody and rhythm that still wants you to sing, dance, or tap your foot.
    1923 - Benny Goodman was 14 years old as he began his professional career as a clarinet player. He took a job in a band on a Chicago-based excursion boat on Lake Michigan.
    1932-Birthday of singer/songwriter Mel Tillis, Pahokee,FL. Tillis was the Country Music Association Entertainer of the Year . Equally talented as a singer and as a songwriter, Tillis began his hit-making career in 1958 with "The Violet and the Rose." His top-ten singles have included "Who's Julie," "The Arms of a Fool" and "Memory Maker." Tillis has a speech impediment, but has made his stuttering a part of his act.
    1933-Louisiana Governor O.K.Allen pardon’s Huddie William Ledbetter, better known as the folksinger “Leadbelly.,” He got the name while in prison in Texas for being very strong. He was a very big man with an explosive temper, and was in for murder. He was pardoned by Texas Governor Pat Neff from a thirty year sentence, something that was unheard of in Texas and from the very conservative Neff, but it is said, he sang a song of why he should be released that so affect the warden, and then Neff, that they released him. Leadbelly was one of my father’s favorite folksingers, that he played all the time, and my first memories of my father are listening to this music in the forties. I remember sitting on his knee, perhaps the earliest recollection of my father, who I miss more and more as each year goes by.
    1933-The first savings and loan association established by the federal government was the first Federal Savings and Loan Association of Miami, Florida. The creation of savings and loan institutions had been authorized by the Home Owners Loan Act of June 13, 1933, to provide a convenient place for the investment of small and large sums and to lend money to local applicants for first mortgages.
    1941 - Les Brown and His Band of Renown paid tribute to baseball’s ‘Yankee Clipper’, Joe DiMaggio of the New York Yankees, with the recording of "Joltin’ Joe DiMaggio" on Okeh Records. From that time on, DiMaggio adopted the nickname, Joltin’ Joe.
    1942-Adding to the fear of the times from both the war in the Pacific and Atlantic, this event is forgotten by many today. Six Germans were electrocuted this day in 1942 in Washington, DC. They were part of a group of eight who were tried by a military commission of seven generals. One saboteur, George John Dasch, was sentenced to 30 years in prison, and another Ernest Peter Bruger, received a life sentence. All eight were found guilty of landing in rubber boats from enemy submarines, carrying explosives, incendiaries, fuses, detonators timing devices, acids, and similar material. Four of them landed on June 13, 1942, at Amagansett, NY, on Long Island, and were discovered by Seamen Second Class John C. Cullen of the Amagansett Coast Guard Station. Four others landed on June 17, 1942, at Poine Vedra Beach near Jacksonville, FL.
    1951-Birthday of Randy Shilts, journalist known for his reporting on the AIDS epidemic. One of the first openly homosexual journalists to work for a mainstream newspaper and the author of And the Band Played On: Politics, People and the AIDS Epidemic. Born at Davenport, IA, and died at Guerneville, CA, Feb 17, 1994.
    1951---Top Hits
Too Young - Nat King Cole
Mister and Mississippi - Patti Page
Because of You - Tony Bennett
I Wanna Play House with You - Eddy Arnold
    1959---Top Hits
Lonely Boy - Paul Anka
A Big Hunk o’ Love - Elvis Presley
My Heart is an Open Book - Carl Dobkins, Jr.
Waterloo - Stonewall Jackson
    1960- British Decca destroyed 25,000 copies of Ray Peterson's death-rock song, "Tell Laura I Love Her." The company refused to release a song which it said was "too tasteless and vulgar for the English sensibility." A rival firm, however, had no such compunction, recording a cover version by a singer named Ricky Valance, which went to number one on the British chart. In the US, Ray Peterson's recording of "Tell Laura I Love Her" reached number seven on the Billboard pop chart.
    1967---Top Hits
Light My Fire - The Doors
All You Need is Love - The Beatles
A Whiter Shade of Pale - Procol Harum
I’ll Never Find Another You - Sonny James
    1968- Race riot in Miami Florida.
    1969-Photographer Iain Macmillan took six pictures of the Beatles crossing the street outside their Abbey Road studio in London. A police officer held up traffic while the band walked back and forth several times. Paul McCartney chose one of the pictures for the cover of the "Abbey Road" album.
    1970-New York Yankees honor Casey Stengel, retiring his number 37.
    1970-CCR's "Looking Out My Back Door" is released.
    1970- Janis Joplin bought a tombstone for blues singer Bessie Smith's unmarked grave in a Philadelphia cemetery. Less than two months later, Joplin herself was dead of a drug overdose. Smith had died following an auto accident in 1942 at the age of 37.
    1973-Vice-President Spiro T Agnew brands them "damned lies" regarding reports he took kickbacks from government contracts in Maryland. He vowed not to resign; that he was innocent.
    1974-President Richard Nixon announced in a televised address that he would resign. Three days earlier he had released tape transcripts revealing he had impeded the Watergate investigation. Nixon told an audience of some 100,000,000, he had made some wrong decisions but that he was resigning because he no longer had enough support in Congress.
    1974-Eric Clapton receives a gold record for "461 Ocean Boulevard." It's his comeback album and contains his Number One version of "I Shot the Sheriff." The album reaches the top of the charts.
    1974 - Roberta Flack received a gold record for the single, "Feel Like Makin’ Love". Flack, born in Asheville, NC and raised in Arlington, VA, was awarded a music scholarship to Howard University in Washington, DC -- at the age of 15. One of her classmates became a singing partner on several hit songs. Donny Hathaway joined Flack on "You’ve Got a Friend", "Where is the Love" and "The Closer I Get to You". She had 10 hits on the pop charts in the 1970s and 1980s.
    1975---Top Hits
One of These Nights - Eagles
Jive Talkin’ - Bee Gees
Please Mr. Please - Olivia Newton-John
Just Get Up and Close the Door - Johnny Rodriguez
    1975- country singer Hank Williams Junior suffered severe head injuries when he fell 150 metres while mountain climbing in Montana. When he returned to performing months later, he had switched to a country-rock sound from the pure country style made famous by his father.
    1976-The Chicago White Sox made baseball sartorial history by donning shorts for a game against the Kansas City Royals. The Sox won, 5-2, but the shorts, a novelty thought up by owner Bill Veeck, lasted only a while.
    1981-Shiaway St. Pat, driven by Ray Remmen, won the Hambletonia, the most important race for three-year-old trotters, contested for the first time at the Meadowlands in New Jersey.
    1983---Top Hits
Every Breath You Take - The Police
Sweet Dreams (Are Made of This) - Eurythmics
She Works Hard for the Money - Donna Summer
Your Love’s on the Line - Earl Thomas Conley
    1984 - Carl Lewis won his third gold medal at the Los Angeles Olympics. He won the 200-meter sprint. At the same time, Greg Louganis received his first gold medal in diving in the springboard competition.
    1986- singer David Crosby, sentenced to a five-year term for drug and weapons charges, was paroled from a prison in Huntsville, Texas after serving only five months. The convictions were overturned by a Texas appeals court in November 1987- Crosby said when he was released that he had kicked a ten-year drug habit and wanted to resume his musical career. He gained fame with the Byrds in the late 1960's, then teamed with Stephen Stills, Graham Nash, and Neil Young.
    1987 - Less than three months after they go to No. 1 on Billboard's Hot 100 for the first time with "With or Without You," U2 return to the top of the chart with "I Still Haven't Found what I'm Looking For," the second single from "The Joshua Tree."( A birthday present for the Edge.)
    1988-The first night game of Chicago’s Wrigley Field was postponed by rain with the Cubs leading the Philadelphia Phillies 3-1, in the bottom of the fourth inning. The Phillies’ Phil Bradley let off the game with a home run, but in a postponed game, all statistics are washed out.
    1990- Iraq annexes Kuwait. The US has been sending troops to Saudi Arabia and moving the US Navy into the Mediterranean seas.
    1991---Top Hits
(Everything I Do) I Do It for You - Bryan Adams
P.A.S.S.I.O.N. - Rythm Syndicate
Summertime - D.J. Jazzy Jeff & The Fresh Prince
She’s in Love with the Boy - Trisha Yearwood
    1993-The Dream Team, a specially-assembled team of NBA all-stars, defeated Crotia, 117-85, to win the gold medal at the 1992 Summer Olympics in Barcelona. The Dream Team, coached by Chuck Daly, including Charles Barkley, Larry Bird, Clyde Drexler, Patrick Ewing, Magic Johnson, Michael Jordan, Christian Laettner, Karl Malone, Chris Mullin, Scottie Pippen, David Robinson and John Stockton.
    1994- Janet Jackson tied Aretha Franklin for the most gold singles by a female artist - 14 - when "Any Time, Any Place" was certified as having sold more than 500,000 copies.
    1995- the Canadian stage production of Disney's "Beauty and the Beast" opened at the Princess of Wales Theatre in Toronto. At $17 million, it was the most expensive stage production in Canadian history.
    1998-The largest free jazz festival in the world, San Jose, California, draws 200,000 to hear Sandoval, Broadbent, Schuur, among many others.



Baseball Poem

Baseball Poem

The Batter

From the book

That Sweet Diamond

by Paul B. Janeczko, Carole Katchen (Illustrator)

He approaches the plate,


swinging smoothly

in slow motion

knowing his choice is simple:

swing or not.

As he paws

the back line of the batter's box,

matching concentration and stare

with the pitcher,

he knows




makes failure likely.


Pitcher rocks.


Batter waits.


Then, in the time it takes

a happy heart to beat,





The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?



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