Information, news, and entertainment for the commercial
alternate financing, bank, finance and leasing industries

Add me to mailing listSearch | All Lists | Columnists | Site Map
Advertising| Archives | Classified Ads | This Day In American History

Email the Editor

Monday, December 19, 2022

Today's Leasing News Headlines

How Much You Learn
ELFF December Confidence Report Up
    Change in Trend: 45.9 Increase over November 43.7
Good News for Brokers Doing Business in Utah;
  However, Broker Compensation Needs to be Disclosed
    By Ken Green, Leasing News Legal Editor
Leasing and Finance Industry Help Wanted
    We Are Growing Our Senior Sales Team Now!
Top Ten Leasing News Read by Reader
    December 12 to December 16
Email from Readers
    with Tributes to Rosanne Wilson
Dr. Dan Geller: But I told you so!
    Cryptocurrency is the Emperor’s New Clothes
ZRG Raises New Growth Capital
    Increasing Ability and Growth
ELFA Announces 2023 Business Council Steering Committees,
  Committees Represent Key Business Sectors,
    and Advance Association Mission
Beagle Mix
    Lodi, New Jersey Adopt-a-Dog
Legal Considerations in Financing
  and Leasing Your First EV
    By Edward P. Kaye, Esq. and Matthew W. Daus, Esq.
News Briefs ----
Silicon Valley’s economy trampled Austin, Seattle
    by billions of dollars during COVID’s first two years
BNSF’s Katie Farmer Named Railway Age’s
    2023 Railroader of the Year
Steve Jobs 'wouldn’t have succeeded' without
    Tim Cook, former Apple exec explains

You May Have Missed ---
What Comes Next for the Most Empty
     Downtown in America

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
Sales Make It Happen

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,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer, it is considered a “byline.” It reflects the opinion and research of the writer.



ELFF December Confidence Report Up
Change in Trend: 45.9 Increase over November 43.7

The Equipment Leasing & Finance Foundation (the Foundation) releases the December 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 45.9, an increase from the November index of 43.7.

Jim DeFrank, EVP and Chief Operating Officer, Isuzu Finance of America, Inc.:
“The pent-up demand is still very strong. We see this continuing through Q2 2023.”

James D. Jenks, CEO, Global Financ and Leasing Services, LLC.:
“In this economy, cash is king and obtaining financing from traditional funding sources will only get more challenging.”

Michael Romanowski, President, Farm Credit Leasing:
“We are at an interesting crossroads as economists predict a looming recession and the Fed continues to raise interest rates to tame the inflation beast. Customers are sharpening the pencil on major expansion opportunities to ensure timing is right for investment. We continue to find solutions to provide value to our customers and markets in this challenging environment.”

Adam Warner, President, Key Equipment Finance, said, “’Cautious optimism’ is the theme as we move into 2023. The Federal Reserve is signaling that rate increases are slowing down; yet, this move doesn’t outweigh the softening demand for equipment financing due to rates being so high as a result. Businesses will need to continue moving forward regardless, and that means implementing new technology to increase productivity, efficiency and profitability.”


Good News for Brokers Doing Business in Utah
However, Broker Compensation Needs to be Disclosed
By Ken Greene, Leasing News Editor

Brokers do not have to be registered/licensed in Utah, but the provision for disclosing broker compensation needs to be included in the disclosures made by the lender.

In a bit of welcome holiday news, it appears that the new Utah commercial finance disclosure law, which becomes effective on January 1, 2023, contains no broker obligations. Although the term “broker” is defined in the statute, it is referenced only one other time, in the requirement that the provider disclose any compensation paid to a broker. There are no other explicit obligations in the statute that relate to brokers.


  • Deadline for registering is 1/1/23;
  • Applies to Utah providers or deals with Utah residents;
  • Must be renewed annually;
  • Must register with the NMLS;
  • You can be penalized up to $500 for each office if not registered.
  • Disclosures:
  • Must be made prior to the transaction;
  • For open-end credit plans, further disclosures must be made whenever a disbursement of funds is made.
  • Disclosures must include:
  • Total amount of funds provided;
  • Total amount of funds disbursed to the business;
  • Total amount paid to the provider;
  • Total cost of the financing
  • Manner, frequency and amount of payments;
  • Any prepayment costs;
  • Broker commissions.

Remember that purchase money security interests are exempt, which will cover most equipment finance transactions. True leases are also exempt.

After reading and re-reading the statute, I spoke with someone at the Utah Department of Financial Institutions about this. He was very helpful, and, although not certain, he agreed that there were no apparent obligations imposed on broker by the new law. There is no requirement that brokers register with the state or be licensed. Neither are there any disclosure related obligations that fall on the broker’s shoulders. He also said if this were to change, or if he learned anything to the contrary, he would let me know, and that he would not expect the DFI to impose any kind of penalties if this interpretation was incorrect.

Just an early holiday gift in the world of disclosure laws, which have otherwise been a lump of coal for many.

Utah Disclosure Law:

Ken Greene
Tel: 818.575.9095
Fax: 805.435.7464

Ken Greene Leasing & Finance Observations


Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support/Work


Top Ten Leasing News Read by Reader
December 12 to December 16

(1) Rosanne Wilson CLFP, BPB, Passed Away
  A Very Close Friend of Mine and Our Industry
By Christopher Menkin, Publisher and Editor

(2)California Commercial Finance Disclosure Law
  Not Enjoined and Now Operative
    plus Northteq/Salesforce
Rapid Finance Disclosure Direct Forms

(3) The Top Four Leasing/Finance Funder Websites
In North America

(4) New Hires/Promotions in the Leasing Business
and Related Industries

(5) New Hires/Promotions in the Leasing Business
and Related Industries

(6) If it's a train or plane, sooner or later
it will be moved by a truck.

(7) ELFA Releases Compensation Report for Small
and Medium-Sized Equipment Finance Businesses

(8) Story Credit Financing
Business Loans, SBA Loans, Working Capital

(9) Financing Cannabis Funding Sources
Many Work with Third Party Originators

(10) Critical News About Utah and Missouri Disclosure Laws
By Ken Greene, Leasing News Legal Editor


Email from Readers with
 Tribute to Rosanne Wilson

(If you missed the article, it is at the end of this tribute)

Leasing News received many email responses, too many to reproduce, but here are a few:

"I read about this last night and thank you for the additional information. I knew Rosanne for almost 30 years and worked with her through CLFP and other industry events. A strong voice in the industry who was a great volunteer and a wonderful person. My best to the family."

Thank you

John Rosenlund


"So sorry to hear Rosanne passing.  We will miss her. She was a true trailblazer in our industry."

Barbara Griffith 


“Very sorry to hear the news about Rosanne Wilson. Rosanne was one of the very first brokers to sign up with BSB Leasing in the mid-90's. Always enjoy the business and the friendship all these years.  Like her daughter said:  She was a fighter. She will be missed.”

Don Meyerson


"Rosanne was a dear and close friend and I will miss her. She had a great sense of humor and was a joy to be around.

"In recent years she suffered from one illness after another, but was positive and upbeat throughout. She brought light and life to everyone who knew her. Our industry, and our world, will be poorer without her.

"RIP, Rosanne."

Bob Teichman. CLFP


"Sad news indeed. I remember when Rosanne got sick and made a miraculous come back several years ago. She was a sweetheart to say the least and very caring.
May she rest in peace."

Edward Castagna

Rosanne Wilson CLFP, BPB, Passed Away
A Very Close Friend of Mine and Our Industry
By Christopher Menkin, Publisher and Editor


Dr. Dan Geller: But I told you so!
Cryptocurrency is the Emperor's New Clothes

The following originally appeared in Leasing News January 24, 2022. With FTX and other crypto current news it is repeated here:

Never in recorded history, from biblical time to today, did any emperor, king, queen, ruler, dictator or elected president relinquished control of their currency for the simple reason that the treasury pays for the military and the military protects the hand that feeds it. Most military conflicts and conquests were done either to expand or to protect the currency and the treasury, from the early discoverers of the New World, to today’s petro-dollar conflicts.

The only way a cryptocurrency will be allowed to survive is if it is linked to a fiat currency such as the Stable coin to the U.S. dollar. All other “floating” crypto coins will either become a commodity or a collector’s item. Investors, who are speculating that crypto coins will become the fiat currency of major countries, are ignoring the fact that currencies were created for control, not convenience. It’s time to tell the Emperor he has no clothes. 

Dr. Dan Geller
Behavioral Economist
for Financial Services
Analyticom LLC


ZRG Raises New Growth Capital
Increasing Ability and Growth

ZRG closes significant investment from new and existing shareholders to accelerate growth of global talent advisory platform

NEW YORK and ROCHELLE PARK, N.J., (GLOBE NEWSWIRE) -- ZRG, a global talent advisory firm and portfolio company of RFE Investment Partners, today announced that it has secured a new secondary equity investment from a consortium of new and existing institutional investors led by Timber Bay Partners.

ZRG currently is a market leader in the global executive recruiting marketplace, and also provides interim/on demand talent solutions, human capital consulting services, and recruitment process outsourcing (“RPO”).

This new capital will accelerate ZRG’s acquisition and hiring efforts as the company continues to build-out a full suite of offerings to help clients solve people problems.

In line with this strategic fundraising, ZRG announced on December 6 that is acquired Hub Recruiting, a Tech Enabled RPO provider to address volume hiring needs globally.

Larry Hartmann, CEO of ZRG, said, “We see tremendous opportunity to acquire great businesses in the recruiting and talent advisory areas that will augment our organic growth across all of our business lines. The new equity capital and expanded credit facility provide ample dry powder for our organic and acquisition growth plans.

 “Additionally, we will continue to invest in our disruptive Zi technology platform and grow our interim and consulting businesses in tandem with our core executive recruiting deliverables.”

The new equity round included increased support from existing investors as well as a number of new institutions. RFE will manage the new equity consortium and will maintain a control equity position.

Michael Rubel, Managing Director at RFE, said: “ZRG has an exceptional track record of supporting and growing acquired companies that have all thrived under ZRG’s resources and unique culture. This new capital accelerates our strategy of partnering with great new human capital people and brands.”

Atlantic-Pacific Capital served as exclusive global financial advisor and placement agent. Truist Bank served as the sole lead arranger for the new credit facility. Specific financial terms are not disclosed.

Concurrent with the new equity investment in the Company, ZRG also announced the closing of a new and expanded senior credit facility led by Truist Bank. Proceeds will be used to refinance existing debt and provide additional capital for future growth.

Atlantic-Pacific Capital served as exclusive global financial advisor and placement agent. Truist Bank served as the sole lead arranger for the new credit facility. Specific financial terms are not disclosed.

About ZRG:
ZRG is a global talent advisory firm that is changing the way companies hire and manage talent. ZRG’s data-driven approach to executive and professional search has been changing the way clients think about how to find top talent. The company’s digital Zi platform combines talent intelligence, candidate insights, and process improvement to dramatically deliver executive searches quicker and with proven better results.

About RFE Investment Partners:
RFE Investment Partners is a private equity firm focused on making control investments in established small market companies located in the United States. RFE is a long-standing firm founded in 1980 with over 40 years of experience investing in the lower middle market. RFE’s investment strategy is to transform its portfolio companies from the lower end of the market to fully professionalized and market-leading middle-market companies. RFE is currently investing out of Fund IX. For more information, visit

About Timber Bay Partners:
Timber Bay Partners is an independent private equity firm focused on General Partner-led secondary transactions. Founded in 2016 and headquartered in Cincinnati, OH, the firm's investment professionals have worked with general partners for more than a decade to structure unique and creative solutions to liquidity issues faced by mature private equity funds.

About Truist:
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $544 billion as of March 31, 2022. Truist Bank, Member FDIC. Learn more at

About Atlantic Pacific:
Atlantic-Pacific Capital is the largest independently owned global placement agent and advisory firm dedicated to raising capital for alternative investments. Since its founding in 1995, Atlantic-Pacific has organically grown into a global organization with an established brand in the private equity community. Over the last two decades, the firm has executed on over 110 capital raising assignments aggregating over $75 billion for an extraordinary group of alternative asset managers.


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

ELFA Announces 2023 Business Council Steering Committees
Committees Represent Key Business Sectors
 and Advance Association Mission

Washington, D.C. – The Equipment Leasing and Finance Association today announced the results of the association’s Business Council Steering Committee elections. The committees are an integral part of ELFA operations, providing input on the direction of the association, meeting the needs of members in their respective areas and serving as a bridge between the members, Board of Directors and staff. Each committee keeps its finger on the pulse of the industry, assessing sector trends and how they may impact the membership and the association.

The following individuals will serve on the five committees in 2023. The committee members are elected by the Business Council membership for a term of two years on a staggered basis.

Asterisks indicate members who were newly elected or re-elected in the 2022 elections. In 2023, each committee will include a liaison from the association’s “People Power” committees: the Emerging Talent Advisory Council, Equity Committee and Women’s Council.

The Bank Business Council Steering Committee represents bank-owned or bank-related organizations that utilize internal funding. They may encompass bank departments, divisions or affiliates, or divisions or subsidiaries of bank holding companies. The members are as follows:

  • Robert Seltzer, BciCapital, Inc. (BciC) (Chair)*
  • Jon Biorkman, BMO Harris Equipment Finance (Board Liaison)
  • Mark Boyer, CIT*
  • Eric Bunnell, CLFP, Arvest Equipment Finance
  • Robert Campbell, Signature Financial*
  • Laura Elrod Eckhardt, Frost Equipment Leasing and Finance*
  • Mark Farlin, LEAF Commercial Capital Inc.
  • Adam Fay, First American Equipment Finance, an RBC / City National Company
  • Thomas Forbes, Wintrust Commercial Finance
  • Kristopher Foster, Pinnacle Financial Partners, Inc.
  • Amy Gestal, Huntington Technology Finance*
  • Bryan Grantham, Regions Equipment Finance Corporation
  • Matthew Hand, U.S. Bank
  • David Jaliman, Atlantic Union Equipment Finance*
  • Aaron Jensen, Farm Credit Leasing*
  • Dale Kluga, Providence Equipment Finance, A Division of Providence Bank & Trust*
  • Dennis Magarro, Peapack Capital Corporation
  • Jill McKean-Bilby, BOK Financial Equipment Finance, Inc.*
  • Theresa Provencher, Bank of America Global Leasing
  • Linda Redding, JP Morgan Equipment Finance*
  • Marci Slagle, BankFinancial, NA
  • Matthew Vazzana, Huntington Technology Finance (Emerging Talent Advisory Council Liaison)
  • Stan Walker, Citizens Asset Finance, a division of Citizens Bank, N.A.*
  • Amy Weum, Farm Credit Leasing (Equity Committee Liaison)
  • Donna Yanuzzi, 1st Equipment Finance (Women’s Council Liaison)

The Captive and Vendor Finance Business Council Steering Committee represents financial services organizations that provide sales-assisted financing and vendor and manufacturer support activities, either on a third-party or captive basis. The members are as follows:

  • Eileen Schoonmaker, DLL (Chair)
  • Bruno Amalberti, CIT*
  • Mark Bainbridge, Caterpillar Financial Services Corporation
  • Joe Banister, LEAF Commercial Capital Inc.
  • Brian Bower, Bank of America Global Leasing
  • Kathy Canum, Canon Financial Services, Inc. (Board Liaison)
  • Mark Casel, Key Equipment Finance*
  • Todd Clegg, Huntington Equipment Finance\
  • Linda D'Amico, Cisco Systems Capital Corporation (Equity Committee Liaison)
  • Dan Hathcoat, Summit Funding Group, Inc.
  • Xiang Ji, Toyota Industries Commercial Finance, Inc.*
  • Christopher Johnson, Pitney Bowes Global Financial Services
  • Corey Kerns, GreatAmerica Financial Services*
  • Mark Lombardi, Healthcare Financial Services, GE Healthcare
  • Jeremy McCulloch, Wells Fargo Vendor Financial Services
  • Dan Nuss, US Bank
  • Shirley Pridgen, Toyota Industries Commercial Finance, Inc. (Women’s Council Liaison)
  • Josh Snider, Verdant Commercial Capital LLC*
  • Justin Tabone, TIAA Bank*
  • Greg Vandewalker, GreatAmerica Financial Services
  • Camtu Vo, DLL (Emerging Talent Advisory Council Liaison)
  • Chad Volkert, John Deere Financial*
  • Dan Willems Van Dijk, CNH Industrial Capital LLC*

The Independent Business Council Steering Committee represents non-bank-owned organizations that provide financing through lines of credit, discounting relationships or other funding vehicles. The members are as follows:

  • Jonathan Albin, Nexseer Capital (Chair)*
  • Kimberly Adair, CLFP, Amur Equipment Finance*
  • Hollis Bufferd, Star Hill Financial LLC
  • Deborah Cole, Gaelic Leasing Inc
  • David Cramer, CLFP, Amur Equipment Finance (Equity Committee Liaison)
  • Jacquie Cripe, CLFP, Mitsubishi HC Capital America, Inc. (Women’s Council Liaison)
  • James Currier, Finloc USA Inc.*
  • Roman Gajda, ENGS Commercial Finance Co.
  • Autumn Heseltine, Insight Investments, LLC*
  • Patrick Hoiby, Equify Financial LLC*
  • Rick Matte, Encina Equipment Finance, LLC*
  • Will Mennesson, CLFP, AP Equipment Financing (Emerging Talent Advisory Council Liaison)
  • Brian Mulder, FORT Capital Resources, LLC
  • Chris Pagano, Mitsubishi HC Capital America, Inc.
  • Jennifer Sablowski, LeasePlan USA*
  • Howard Shiebler, Crossroads Equipment Lease & Finance LLC
  • Harrison Smith, Stonebriar Commercial Finance*
  • Paula Summers, Vision Financial Group, Inc.*
  • Peggy Tomcheck, Aspen Capital Company, Inc.*
  • Bruce Winter, CLFP, FSG Capital, Inc. (Board Liaison)

The Service Providers Business Council Steering Committee represents organizations and firms providing a variety of related services to the members of the other four Business Councils. Associated company types include accounting, collections, law, consulting, software, equipment management, university/government, executive recruiters, insurance, nonprofits/associations and publishers. The members are as follows:

  • Cody Sanguinetti, CLFP, Great American Insurance Group (Chair)
  • Tara Aasand, LTi Technology Solutions* (Women’s Council Liaison)
  • Jeffrey Bilbrey, Leasepath*
  • Susan Carol, Susan Carol Creative
  • Benjamin Court, Stinson LLP *
  • Joe Franco, CLFP, FIS
  • Jon Gerson, Executive Solutions for Leasing and Finance, LLC*
  • David Herrera, Bigfoot Forklift LLC*
  • Basil Karatzas, Karatzas Marine Advisors & Co*
  • Barbara King, Capgemini America, Inc.*
  • Brian Little, V3 Distribution*
  • Sean McKenna, Great American Insurance Group (Emerging Talent Advisory Council Liaison)
  • Kim Riggs-Mounger, CLFP, Orion First Financial, LLC*
  • Barry Ripes, Equifax (Board Liaison)
  • Sean Scampton, Leasepath (Equity Committee Liaison)
  • Rob van der Zanden, Kin Analytics*

The Small Ticket Business Council Steering Committee represents financial services organizations primarily involved in transactions under $250,000, either individually or through lines. The members are as follows:

  • Robert Ceribelli, DLL (Chair)*
  • Erik Anderson, Northland Capital Equipment Finance*
  • Anita Colvin, CLFP, U.S. Bank
  • Cole Farmer, Blue Street Capital, LLC (Emerging Talent Advisory Council Liaison)
  • Paul Fogle, Quality Equipment Finance*
  • Nicholas Gibbens, CLFP, Wintrust Specialty Finance
  • Brent Hall, CLFP, Alliance Funding Group*
  • Adrian Hebig, Channel*
  • Maggie Holly, CLFP, Hanmi Bank (Women’s Council Liaison)
  • Richard Irwin, PEAC Solutions *
  • Eric McGriff, Wintrust Specialty Finance (Equity Committee Liaison)
  • Brient Mills, JB&B Capital, LLC
  • Kayla Perlinger, Oakmont Capital Services
  • Brad Peterson, Channel (Board Liaison)
  • Todd Wainwright, Amur Equipment Finance

Learn More
To learn more about each ELFA committee and its purpose, download the ELFA Volunteer Guide or view committee descriptions online. All members who are interested in serving on an ELFA committee, including a Business Council Steering Committee, are encouraged to complete the online committee volunteer form or contact Director of Governance Ed Rosen at or 202.238.3428.

About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA has been equipping business for success for more than 60 years.  For more information, please visit

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


Beagle Mix
Lodi, New Jersey  Adopt-a-Dog


2 - 3 Years Old
25 lbs.
Vaccinations up-to-date
Good in a home with
other dogs, Children

Meet Gemini

Gemini (25lbs.) is a 2-3 year old, Beagle mix that came into the rescue with her eldest daughter, Venus, and a litter of pups. Now that her pups have weaned and she has been treated for heartworms, Gemini is finally ready to start the search for her FURever family.

Although she is absolutely thriving in her foster home, Gemini definitely needs some time to warm up to new people and environments. She is shy and reserved, but always very gentle. Once acclimated, Gemini is a happy and go-with-the-flow gal. She gets along beautifully with other dogs and is currently fostered in a home with older children. Gemini will need a patient family that is willing to work with her to bring her out of her shell. As with any dog, she would benefit from a structured daily routine and continued training.

In order to be considered as a potential adopter, we will need you to complete our online application at Should we choose to move forward with your family, you will be notified via email within the week. Due to the large volume of applications received, we are no longer able to respond to each and every applicant. We apologize in advance for the inconvenience and appreciate your understanding.

Additional information and/or medical records for this rescue pet are available and will be reviewed in person should we choose to move forward in scheduling a meet n’ greet..

Adoption Application:

Animal Rescue "R" Us


Legal Considerations in Financing
and Leasing Your First EV
By Edward P. Kaye, Esq. and Matthew W. Daus, Esq.


It is only a matter of time until you finance or lease your first Electric Vehicle (EV).  Either your clients will demand it, your options to buy internal combustion engine (ICE) vehicles will be limited, or you will decide on your own that it is time your company has an EV in its fleet to keep up with the competition.

While small transportation companies will hold off purchasing EVs for as long as possible due to the higher purchase prices, despite the challenges related to EV adoption, many large and medium size companies have started to embrace electrification, setting up charging infrastructure in their facilities, and experimenting with various vehicles targeting the bus and livery market.  In fact, Kelley Blue Book recently reported that sales of EVs hit a record in Q3 of 2022, selling more than 200,000 EVs!

As the transformation to EVs continues at a rapid pace, much of the lease and loan documentation has not.  Many of the standard agreements that banks and leasing companies have been using for decades never contemplated some of the issues in financing or leasing an EV, be it a sedan, bus, or taxi.  This article highlights some of the considerations for transportation companies as they start to acquire, finance, and lease EVs for their fleets. 

Incentives and Subsidies

First, let’s briefly look at some available rebates, grants, and subsidies because this is the tip of the iceberg.  It is reported that there are more than 120 different incentive programs across the U.S. at the state and federal levels supporting fleet electrification.  Putting various state subsidies aside, the Inflation Reduction Act of 2022, which passed last August, offers new business tax credits of up to $7,500 for qualified new EVs acquired after December 31, 2022.  The basis for the Qualified Commercial Clean Vehicles credit is either 15% of the vehicle cost (30% for non-gasoline or non-diesel vehicles) or the incremental cost relative to a comparable vehicle. The maximum amount is $7,500 for a gross vehicle weight rating (GVWR) of less than 14,000 pounds, and certain larger commercial electric vehicles may qualify for subsidies up to $40,000! Unlike the clean vehicle credits for individuals, the commercial vehicle credit is free of requirements concerning where the vehicle is assembled, or from where battery minerals are sourced.  It is likely that additional details and guidance will be forthcoming for the EV credits as we approach the January 1, 2023, start date.

Who keeps the subsidy, the dealer, the leasing company, or the lessee?  The credit goes to the purchaser of the vehicle.  The leasing company (or Lessor) is the actual purchaser of the vehicle, and it is up to the Lessor whether to share the credit with the Lessee. In fact, we have seen lease agreements where the Lessors keep the entire subsidy, while others share it with the Lessee, and still others give it all to the Lessee.  Starting in 2024, the Inflation Reduction Act establishes a mechanism that will allow car buyers to transfer the credit to auto dealers at the point of sale so that it can directly reduce the purchase price; however, these credits can be indirectly offset by rising interest rates for commercial vehicle loans. For national operators, additional consideration can be given to which state is selected for titling and registration in order to take advantage of any additional credits at the state level. The Inflation Reduction Act also extends a currently-expired tax credit for alternative fuel refueling property, such as electric charging stations or hydrogen fuel cell recharging stations, placed in service after December 31, 2022. For business property, the maximum tax credit would be 6% of the property’s cost, capped at $100,000.  Business properties that meet prevailing wage and registered apprenticeship requirements may be eligible for a credit amount of 30% ($100,000 maximum).

Infrastructure Financing and Leasing

What if you finance the charging stations with the EV purchase?  Generally, the charging infrastructure is either financed separately or packaged with the vehicle purchase.  This increases the initial loan amount, and, if you want to pay off the loan before it matures, the value of the vehicle will likely be much less than the remaining loan balance since the loan includes both the vehicle and the charging station.

Installing charging infrastructure requires working with your local utility company.  Will the utility company have a security interest in the equipment?  If yes, could this be an event of default in your loan or lease documentation?

Early Termination

If you are not satisfied with the electric vehicle, is it possible to pay it off early and keep financing the charging infrastructure?  Many smaller finance and leasing companies are not set up to account for partial payoffs since leases generally are non-cancellable.  The takeaway here is to make sure you know the potential impact in financing the charging infrastructure and what your prepayment options are before you sign the lease or loan, including whether the interest rates are fixed or variable, depending on the status of the credit markets at the time. In light of the dramatic increase in inflation since mid-2021, combined with the multiple rate increases from the Federal Reserve, Lessees may certainly seek a fixed-rate, but that option may not be as readily available – especially since the Federal Reserve has signaled that additional rate increases are likely after its most recent increase on November 2, 2022.   Fleet operators will be able to use their economies of scale to negotiate better interest rates and variable terms than sole operators.

Even though most EVs coming off assembly lines are reliable, inevitably, the technology in some of them will not function as represented.  Most lease and finance contracts have what are referred to as “hell or high water clauses.”  This means that, even if the battery is defective and the vehicle does not start, the Lessee or borrower assumes full accountability and is responsible for all payments regardless of the circumstances.  The only recourse is found in the manufacturer’s warranty, which may take some time to resolve.  Thus, negotiating a mechanism to provide for a pause and back-end accrual of the payments during downtime may be beneficial depending on long-term goals. 

This may seem like a harsh provision, but it is the same tried and true provision utilized in leases and loans for ICE vehicles for decades.  The rationale is that lenders and leasing companies take substantial risks in financing vehicles and equipment and are not in a position to backstop mechanical or other issues they did not manufacture or sell.

Data Security and Protection

An interesting aspect of EV leasing is the data many Lessors collect from the use of the vehicle and battery.  This data is oftentimes aggregated and used by Lessors and other service providers to improve future performance, to develop more affordable and efficient vehicle leases, and to locate the vehicle in the event of default.  Many EV leases have consent provisions authorizing Lessors to access such data, but there may be questions as to whether the consent provision in the lease is compliant with applicable privacy laws when it comes to tracking vehicles, especially if the vehicles are being tracked when an employee is using the vehicle on personal time.  Specific carve-outs for proprietary data, such as charging cycles, shift changes, and use locations may be prudent so that your trade secrets are not produced in any future performance reports disseminated by the Lessor.

Additional considerations should be given to data security and protection in connection with the data generated by the use of the EVs. EV operators will be able to extract granular data from all of the passengers and drivers that can be accessed, analyzed, and reported instantaneously. Where this data is stored, whether domestically or internationally, will have systemic implications in the event of a data breach and any resulting scrutiny. It is particularly important that all driver-side and customer-facing agreements and terms of service accurately reflect the type of data collected, how the data is stored, the data storage locations, and whether any data in any form is transmitted to third-parties.

The Future – And Choosing Your EV Business Model

Lastly, your EV loan or lease should be clear from a business perspective and anticipate the EV issues in relation to your business model. For example, vertical operators managing fleets of EVs under credit or lease facilities are more sensitive to keeping a cinched lasso on all of the proprietary-related data generated in-house and require exceptions to geofencing requirements in order to quickly move EVs to take advantage of a hot market or more sophisticated charging infrastructure. While on the other hand, horizontal operators – who do not directly operate the EV – will require permissible sublease provisions to allow independent operators to drive the EV subject to a daily, weekly, or monthly lease agreement, as well as third-party data protections in connection with unrelated passengers transported by the subleased EV.

One thing is clear, the future of transportation is electric, and the EV industry is at a tipping point. Surprisingly, many EV financiers have not been able to keep up with the evolution, which could cause some unexpected consequences for transportation companies.  As with all major financial commitments, understand the risks you are accepting before electronically signing on the dotted line, and contact competent legal counsel if you need help understanding the fine print.

Edward P. Kaye is the former president and CEO of a specialty lender to the transportation industry.  He is currently a partner in the law firm Schickler Kaye LLP that specializes in representing banks, lessors, and transportation companies.  He can be reached at 212-262-6397 or EKAYE@SKFINANCELAW.COM.

Matthew W. Daus, Esq. is the former longest serving Chair/Commissioner/CEO & General Counsel of the New York City Taxi and Limousine Commission (“TLC”).  He is a senior partner at Windels Marx Lane and Mittendorf LLP, and Founder/Chair of the Transportation Practice Group, representing a wide variety of mobility clientele (including leasing and rental companies and trade groups), on a full-service multi-specialty platform that includes: finance/lending, government procurement/grants (including Electric Vehicle infrastructure & funding), transportation regulation/licensing, tax, corporate, mergers & acquisitions, insurance and labor law. Matt may be reached at (O) 212-237-1106, (M) 646-261-1590 or at


News Briefs---

Silicon Valley’s economy trampled Austin, Seattle
    by billions of dollars during COVID’s first two years

BNSF’s Katie Farmer Named Railway Age’s
    2023 Railroader of the Year

Steve Jobs 'wouldn’t have succeeded' without
    Tim Cook, former Apple exec explains


What Comes Next for the Most Empty
Downtown in America



Sports Briefs---

Lionel Messi finally wins World Cup title
    as Argentina beats France in thriller 

How the world reacted to ‘the best World Cup final ever’

The best games at the 2022 World Cup - ranked

The Minneapolis Miracle II: Vikings Rally
    for the Biggest Comeback in NFL History

NFL playoff picture as Week 15 unfolds: Chiefs wrap
up AFC West, but Cowboys need help to clinch

Cardinals expected to move on from GM Steve Keim

Warriors' Steph Curry expected to miss
'a few weeks' with shoulder injury

Women’s basketball: Brink delivers on both ends,
second-ranked Stanford rallies past Tennessee

The Pac-12 top-10: Oregon State’s big win, UCLA’s approval,
     Arizona’s escape, new contracts, staff changes and more


California Nuts Briefs---

San Francisco Bay Area nearing third-highest
    COVID hospitalization wave of the pandemic

Maps show where California’s Asian Americans
live and how that’s changed over time



"Gimme that wine"

California’s Jackson Family Wines sues insurer
    over $430 million in wildfire damage claims

Wente Vineyards Unveils First Entirely New Bottling
Line Installed Since its 1883 Founding

The Wonderful Company Buys Robert Sinskey Property
in Napa Valley in Leaseback Deal

Aridus Wine Company: Pursuing a Dream in Southeast Arizona

Paso Robles Wine Alliance Launches
New Marketing Video

“Gimme that Wine”

Free Wine App

Wine Prices by vintage

US/International Wine Events


This Day in History

     1773 - In the celebrated Boston Tea Party, in a nonviolent political protest, the Sons of Liberty in Boston, dressed as Indians, boarded three British ships in Boston harbor and threw their cargoes of tea, 342 chests worth 18,000 British pounds into the water (initially referred to by John Adams as "the Destruction of the Tea in Boston). The action was the climax of growing colonial opposition to the growing set of import taxes, including the “Tea Act.” As Europeans developed a taste for tea in the 17th century, rival companies were formed to import the product from China. In England, Parliament gave the East India Company a monopoly on the importation of tea in 1698. When tea became popular in the British colonies, Parliament sought to eliminate foreign competition by passing an act in 1721 that required colonists to import their tea only from Great Britain. The East India Company did not export tea to the colonies; by law, the company was required to sell its tea wholesale at auctions in England. British firms bought this tea and exported it to the colonies, where they resold it to merchants in Boston, New York, Philadelphia, and Charleston. Until 1767, the East India Company paid an ad valorem tax of about 25% on tea that it imported into Great Britain. Parliament laid additional taxes on tea sold for consumption in Britain. These high taxes, combined with the fact that tea imported into Holland was not taxed by the Dutch government, meant that Britons and British Americans could buy smuggled Dutch tea at much cheaper prices. The biggest market for illicit tea was England.  By the 1760s, the East India Company was losing £400,000 per year to smugglers in Great Britain, but Dutch tea was also smuggled into British America in significant quantities. In 1767, to help the East India Company compete with smuggled Dutch tea, Parliament passed the Indemnity Act, which lowered the tax on tea consumed in Great Britain, and gave the East India Company a refund of the 25% duty on tea that was re-exported to the colonies. To help offset this loss of government revenue, Parliament also passed the Townshend Revenue Act of 1767, which levied new taxes, including one on tea, in the colonies. Instead of solving the smuggling problem, however, the Townshend duties renewed a controversy about Parliament's right to tax the colonies.
    1811 - The first of the powerful New Madrid, MO earthquakes, with an estimated magnitude of 7.7, struck the central Mississippi Valley.
    1826 - Benjamin Edwards rode into Mexican-controlled Nacogdoches, TX and declared himself ruler of the Republic of Fredonia.  The Fredonian Rebellion (December, 1826–January, 1827) was the first attempt by Anglo settlers in Texas to secede from Mexico.     
    1828 – Birthday of John Beatty (d. 1914), Sandusky, OH.  Brigadier-General (Union volunteers).
    1863 - Confederate President Jefferson Davis names General Joseph Johnston commander of the Army of Tennessee. Johnston replaced Braxton Bragg, who managed to lose all of Tennessee to the Union during that year. He fought at the First Battle of Bull Run and commanded the Army of Northern Virginia during the early stages of the Peninsular Campaign in 1862. When he was wounded at the Battle of Seven Pines on May 31, Lee replaced Johnston. After recovering from his wounds, Johnston was sent to coordinate the operations of the armies the Tennessee and Mississippi regions. Since he did not have a command of his own, Johnston resented this duty. In 1863, Johnston made a futile attempt to relieve John C. Pemberton's army at Vicksburg. He wanted Pemberton to fight his way out of Vicksburg, but Union General Ulysses S. Grant had Pemberton trapped. The surrender of Pemberton's army put additional stress on the already strained relationship between Johnston and President Davis. After the campaigns of 1863, however, Davis felt he had little choice but to name Johnston commander of the Army of Tennessee. The Confederates were losing large sections of territory to the Union. Bragg was literally maneuvered right out of Tennessee during the summer, although he engineered a victory at Chickamauga before laying siege to Union troops at Chattanooga. When Grant broke the Confederate hold on Chattanooga in November, Bragg resigned his command. Davis reluctantly appointed Johnston to save the situation in the West. Johnston took the field with his army in the spring of 1864, when Union General William T. Sherman began his drive toward Atlanta. Johnston employed a defensive strategy that avoided direct battle with Sherman but which also resulted in lost territory as Johnston slowly backed up to Atlanta. Johnston's command lasted until July 1864, when Davis replaced Johnston after the Army of the Tennessee was backed into Atlanta. Ironically, the Union Army considered him one of the best leaders of the Confederate troops, as he was quite effective. Jefferson Davis did not see it that way.
    1863 - Birthday of George Santayana (d. 1952), Philosopher and author, Madrid, Spain. At the age of nine, he immigrated to the US where he attended and later taught at Harvard University. In 1912, he returned to Europe and traveled extensively. It was Santayana who said, “Those who cannot remember the past are condemned to repeat it.”
    1864 - Union troops defeated Confederate forces on the second day of battle at Nashville, essentially knocking the Confederate Army of Tennessee out of the Civil War. Union General George Thomas attack on the army of Confederate General John Bell Hood at Nashville was a major defeat for the Confederacy. Hood's drastically outnumbered forces retreated, and only some heroic rear-guard action prevented the total destruction of the Confederate army.
    1867 - Elizabeth Johnson Harris (d. 1942) birthday, Augusta, GA, born of former slaves.  She was one of the first African-American female writers.
    1869 - Decree by US Emperor Norton I, historically America's greatest and most enlightened ruler, demands that Sacramento clean its muddy streets and place gaslights on streets leading to the capitol.
    1870 - Negro Methodist Episcopal Church founded in Jackson, TN. Its name was changed in 1954 to the Christian Methodist Episcopal Church. The denomination today is comprised of approximately 3,000 congregations.
    1884 - William Henry Fruen of Minneapolis received a patent for a vending machine that dispensed liquid automatically. When a coin was inserted in the slot, a uniform supply of liquid was released from a reservoir.
    1889 - The Players League formally organized with Colonel E.A. McAlpin of New York as president. Formally known as The Players' National League of Professional Base Ball Clubs, it was a short-lived but star-studded professional American baseball league of the 19th century. It emerged from the Brotherhood of Professional Base-Ball Players, the sport's first players' union.  The league prohibited player transfers without the player's consent, excess profits will be split between the capitalists and the players, and prize money will be awarded to the teams in the order of their finish.  The Brotherhood included most of the best players of the National League. Brotherhood members, led by John Montgomery Ward, left the National League and formed the Players' League after failing to change the lopsided player-management relationship of the National League.  The PL lasted just the one season of 1890 and the Boston franchise won the championship. The PL was well-attended, at least in some cities, but was underfunded and its owners lacked the confidence to continue beyond the one season.  In 1968, a committee appointed by MLB Commissioner Eckert ruled that the Players' League was a major league.
    1893 - Anton Dvorak's “New World Symphony” premiered at the newly erected Carnegie Hall with the New York Philharmonic playing. The composer attended and enjoyed enthusiastic applause from the audience. The symphony contains snatches from black spirituals and American folk music. Dvorak, a Bohemian, had been in the US only a year when he composed it as a greeting to his friends in Europe.
    1901 - The famous story, "Peter Rabbit," by Beatrix Potter, was printed for the first time, complete with Potter's watercolor illustrations. Ms. Potter had come up with the Peter Rabbit concept eight years earlier when she sent a story, told in pen and ink drawings, to a five-year-old who was sick in bed. The first story about the ill-behaved rabbit was meant to cheer up the little boy. Of course, all good little boys and girls remember that Flopsy, Mopsy, and Cotton-tail were the good little bunnies who went down the lane to gather blackberries. But Peter, who was very naughty, ran straight to Mr. McGregor's garden, and squeezed through the gate. First he ate some lettuce and some French beans; and then he ate some radishes ... and he got too fat ... and Mr. McGregor is coming ... and we gotta get out of this garden ... and it's getting late ... we will have to finish this later.
    1901 - Margaret Mead (d. 1978) birthday, Philadelphia.  U.S. anthropologist who revolutionized thinking about primitive life and female adolescent sexuality by raising questions about the assumptions of rigid social mores in all cultures. In 1949, she published “Male and Female: A Study of the Sexes in a Changing World” which contrasted gender roles in various societies, the importance of the mother in the development of the children's adult lives, and the different opinions on women's roles in raising children. It examined traditional male-female relationships, using observations from the Pacific and the East Indies for reference in discussing such topics as the mother's influence in perpetuating male and female roles and the different concepts of women's roles in marriage.
    1905 - Sime Silverman published the first issue of "Variety," the weekly show biz magazine. The first issue was 16 pages in length and sold for a nickel. "Variety" and "Daily Variety" are still going strong and have become the industry standard.
    1907 - The American Great White Fleet began its circumnavigation of the world.  The popular nickname for the US Navy battle fleet that completed the circumnavigation of the globe from December 16, 1907, to February 22, 1909, by order of President Theodore Roosevelt, it consisted of 16 battleships, divided into two squadrons, along with various escorts.  Roosevelt sought to demonstrate growing American military power and blue-water navy capability. Hoping to enforce treaties and protect overseas holdings, the U.S. Congress appropriated funds to build American sea power. Beginning with just 90 small ships, over one-third of them wooden, the navy quickly grew to include new modern steel fighting vessels. The hulls of these ships were painted a stark white, giving the armada the nickname "Great White Fleet."
    1907 - Eugene H. Farrar became the first singer to broadcast on radio. He sang from the Brooklyn Navy Yard in New York. The song? "Do You Really Want to Hurt Me?"
    1915 - Birthday of trombonist Turk Murphy (d. 1987), Palermo, CA.
(I have in my shellac collection, the first record he made with Lu Watters, too. I saw him many, many times in San Francisco at his own club and the Fairmont. Tony Bennett was a big Dixieland fan and was often there. Turk Murphy began playing in “Frisco” (the word used in several of the tunes he wrote, although today considered a “no-no”) dance bands as early as 1930. In 1939, he teamed with the legendary Lu Watters, joining Waters' Yerba Buena Jazz Band which began a steady engagement at the Dawn Club in the basement of the Monadnock Building on Market between Third & Annie Streets. In 1960, he opened his first “Earthquake McGoon's” on Broadway, named for the then-popular Al Capp cartoon character.
    1916 - Writer Theodore Weiss (d. 2003) born Reading, Pa.
    1917 - Birthday of A.C. Clarke (d. 2008), Minehead, UK. Sorry to break the tradition of American History, but being a science-fiction buff, he is one of my favorite writers, so he is now an adopted American. Yes, I am a “Trekkie,” too. I have all the badges on my office wall, plus many Star Trek items on my bookcase. Also a Western fan. At age 14, I wrote four western paperbacks that were published (I made $40 each).
    1917 - An ice jam closed the Ohio River between Warsaw, KY, and Rising Sun, IN. The thirty-foot-high ice jam held for 58 days and backed up the river for a distance of 100 miles.
Rank and organization: Lieutenant Commander, U.S. Navy. Place and date: Sea of Marmora, Turkey, 16 December 1922. Born: 8 November 1886, Philadelphia, Pa. Accredited to: Pennsylvania. G.O. No.: 123, 4 February 1924. (Medal presented by President Coolidge at the White House on 2 February 1924). Other Navy award: Navy Cross. Citation: For heroism in rescuing 482 men, women and children from the French military transport Vinh-Long, destroyed by fire in the Sea of Marmora, Turkey, on 16 December 1922. Lt. Comdr. Edwards, commanding the U.S.S. Bainbridge, placed his vessel alongside the bow of the transport and, in spite of several violent explosions which occurred on the burning vessel, maintained his ship in that position until all who were alive were taken on board. Of a total of 495 on board, 482 were rescued by his coolness, judgment and professional skill, which were combined with a degree of heroism that must reflect new glory on the U.S. Navy.
    1928 - Science-fiction great Philip K. Dick (d. 1982) was born Chicago, Illinois. American science fiction writer par excellence. Author of “Flow My Tears the Policeman Said,” ”Crack in Space,” “Man in the High Castle,” “Do Androids Dream of Electric Sheep?,” “Time Out of Joint,” etc.
    1930 - Birthday of flute player Sam Most (d. 2013), Atlantic City, NJ

    1930 - Golfer Bobby Jones won the first James E. Sullivan award as the nation's best amateur athlete. The award was established by the Amateur Athletic Union to honor its former president and is presented annually to the athlete who “by his or her performance, example, and influence as an amateur, has done the most during the year to advance the course of sportsmanship.”
    1933 - Birthday of organ player Johnny “Hammond” Smith (d. 1997), Louisville, KY.,,543346,00.html?artist=
    1937 – The first escape from Alcatraz, San Francisco.  Theodore Cole and Ralph Roe filed through iron bars in the prison's mat shop in the industries building and escaped on a very foggy day, preventing them from being spotted by guards in the watch towers. The two jumped into the water and were never seen again but the severe weather conditions at the time have led to a consensus that they drowned in the bay and their bodies were swept out to sea by the strong current in San Francisco Bay.
    1940 - Bob Crosby and his Bobcats backed up brother Bing as "San Antonio Rose" was recorded on Decca Records.
    1941 - The first submarine from the United States to sink a Japanese ship in World War II was the USS Swordfish, commanded by Lt. Chester Carl Smith, which torpedoed the 8,662-ton Japanese freighter Atsutusan Maur under destroyer escort off the coast of Indochina. The Swordfish was 311 feet long and displaced 2,350 tons. The Ship was destroyed by a mine on its 13th patrol in January, 1945, near Okinawa, with the loss of all aboard.
    1944 - German V-2 strikes Antwerp bioscope (638 killed)

    1944 - US 2nd Infantry division occupies "Heartbreak Crossroads" at a vital crossroads near a cabin named Wehlerscheid, north of Krinkelt-Rocherath, Belgium. In early December, the U.S. V Corps trucked the Division from positions it had held in the south to Krinkelt-Rocherath, twin villages adjacent to Elsenborn Ridge and near the southern tip of the Battle of Hurtgen Forest.
    1944 - Birthday of guitarist John Abercrombie (d. 2017), Port Chester, NY.
    1944 - Battle of the Bulge: A German offensive was launched in the Belgian Ardennes forest, where Hitler had managed to concentrate 250,000 men. The Nazi commanders, hoping to minimize any aerial counterattack by the Allies, chose a time when foggy, rainy weather prevailed. The initial attack by eight armored divisions along a 75-mile front took the Allies by surprise and the 5th Panzer Army penetrated to within 20 miles of crossings on the Meuse River. US troops were able to hold fast at bottlenecks in the Ardennes, but by the end of December, the German push had penetrated 65 miles into the Allied lines (though their line had narrowed from the initial 75 miles to 20 miles). By that time, the Allies began to respond and the Germans were stopped by Montgomery on the Meuse and by Patton at Bastogne. The weather then cleared and Allied aircraft began to bomb the German forces and supply lines by December 26. The Allies reestablished their original line by January 21.
    1944 - McGARlTY, VERNON, Medal of Honor
Rank and organization: Technical Sergeant, U.S. Army, Company L, 393d Infantry, 99th Infantry Division. Place and date: Near Krinkelt, Belgium, 16 December 1944. Entered service at: Model, Tenn. Born: 1 December 1921, Right, Tenn. G.O. No.: 6, 11 January 1946. Citation: He was painfully wounded in an artillery barrage that preceded the powerful counteroffensive launched by the Germans near Krinkelt, Belgium, on the morning of 16 December 1944. He made his way to an aid station, received treatment, and then refused to be evacuated, choosing to return to his hard-pressed men instead. The fury of the enemy's great Western Front offensive swirled about the position held by T/Sgt. McGarity's small force, but so tenaciously did these men fight on orders to stand firm at all costs that they could not be dislodged despite murderous enemy fire and the breakdown of their communications. During the day the heroic squad leader rescued 1 of his friends who had been wounded in a forward position, and throughout the night he exhorted his comrades to repulse the enemy's attempts at infiltration. When morning came and the Germans attacked with tanks and infantry, he braved heavy fire to run to an advantageous position where he immobilized the enemy's lead tank with a round from a rocket launcher. Fire from his squad drove the attacking infantrymen back, and 3 supporting tanks withdrew. He rescued, under heavy fire, another wounded American, and then directed devastating fire on a light cannon which had been brought up by the hostile troops to clear resistance from the area. When ammunition began to run low, T/Sgt. McGarity, remembering an old ammunition hole about 100 yards distant in the general direction of the enemy, braved a concentration of hostile fire to replenish his unit's supply. By circuitous route the enemy managed to emplace a machinegun to the rear and flank of the squad's position, cutting off the only escape route. Without hesitation, the gallant soldier took it upon himself to destroy this menace single-handedly. He left cover, and while under steady fire from the enemy, killed or wounded all the hostile gunners with deadly accurate rifle fire and prevented all attempts to re-man the gun. Only when the squad's last round had been fired was the enemy able to advance and capture the intrepid leader and his men. The extraordinary bravery and extreme devotion to duty of T/Sgt. McGarity supported a remarkable delaying action which provided the time necessary for assembling reserves and forming a line against which the German striking power was shattered.
    1945 - MURRAY, CHARLES P., JR., Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company C, 30th Infantry, 3d Infantry Division. Place and date: Near Kaysersberg, France, 16 December 1944. Entered service at: Wilmington, N.C. Birth: Baltimore, Md. G.O. No.: 63, 1 August 1945. Citation: For commanding Company C, 30th Infantry, displaying supreme courage and heroic initiative near Kaysersberg, France, on 16 December 1944, while leading a reinforced platoon into enemy territory. Descending into a valley beneath hilltop positions held by our troops, he observed a force of 200 Germans pouring deadly mortar, bazooka, machinegun, and small arms fire into an American battalion occupying the crest of the ridge. The enemy's position in a sunken road, though hidden from the ridge, was open to a flank attack by 1st Lt. Murray's patrol but he hesitated to commit so small a force to battle with the superior and strongly disposed enemy. Crawling out ahead of his troops to a vantage point, he called by radio for artillery fire. His shells bracketed the German force, but when he was about to correct the range his radio went dead. He returned to his patrol, secured grenades and a rifle to launch them and went back to his self-appointed outpost. His first shots disclosed his position; the enemy directed heavy fire against him as he methodically fired his missiles into the narrow defile. Again he returned to his patrol. With an automatic rifle and ammunition, he once more moved to his exposed position. Burst after burst he fired into the enemy, killing 20, wounding many others, and completely disorganizing its ranks, which began to withdraw. He prevented the removal of 3 German mortars by knocking out a truck. By that time a mortar had been brought to his support. 1st Lt. Murray directed fire of this weapon, causing further casualties and confusion in the German ranks. Calling on his patrol to follow, he then moved out toward his original objective, possession of a bridge and construction of a roadblock. He captured 10 Germans in foxholes. An eleventh, while pretending to surrender, threw a grenade which knocked him to the ground, inflicting 8 wounds. Though suffering and bleeding profusely, he refused to return to the rear until he had chosen the spot for the block and had seen his men correctly deployed. By his single-handed attack on an overwhelming force and by his intrepid and heroic fighting, 1st Lt. Murray stopped a counterattack, established an advance position against formidable odds, and provided an inspiring example for the men of his command.
    1945 - Prince Fumimaro Konoe, twice Japanese prime minister, committed suicide rather than face war crimes charges. In the 1920s, he had worked to curb army powers and prevent an expansion of the war with China. He helped engineer the fall of the Tojo government in 1944 but was suspected of war atrocities.
    1945 - Top Hits
“It Might as Well Be Spring” - The Sammy Kaye Orchestra (vocal: Billy Williams)
“White Christmas” - Bing Crosby
“It's Been a Long, Long Time” - The Harry James Orchestra (vocal: Kitty Kallen)
“Silver Dew on the Blue Grass Tonight” - Bob Wills
    1947 – William Shockley, John Bardeen and Walter Brattain built the first practical point-contact transistor.  Shortly after the end of the war in 1945, AT&T’s Bell Labs formed a solid state physics group, led by Shockley and chemist Stanley Morgan, which included Bardeen and Brattain. Their assignment was to seek a solid-state alternative to fragile glass vacuum tube amplifiers as an internal improvement for the Bell System which was growing the nationwide telephone system at the time.
    1950 - Patti Page's "The Tennessee Waltz" hits #1
    1950 – President Harry Truman declared a state of emergency after Chinese troops enter the fight in support of communist North Korea.
    1951 - In a special preview courtesy of "Chesterfield Sound Off Time," "Dragnet" made it to television. The police drama opened its official run on television January 3, 1952. Trivia fact: Sergeant Friday's boss in the preview was played by Raymond Burr. My father, Lawrence Menkin, wrote several of the episodes of the early editions. They were based primarily on true episodes, including actual police who consulted on and off the set for authenticity. It starred Jack Webb as stoic and determined Sergeant Joe Friday, a man whose life was his investigative work, and who was recognized by his recurring line, “Just the facts, ma'am.”  My father said he was “almost everything” in the series from producer to story editor, a workaholic, very hard to deal with, and one of the reasons he was able to sell him scripts. He made many Los Angeles police friends, meaning the guys on the street, not from the PR department, and brought them along to “pitch stories”. Friday had partners, Barton Yarborough played Sergeant Ben Romero for three episodes. For the rest of the season, Barney Phillips played Sergeant Ed Jacobs and Ben Alexander played his comedic sidekick, Officer Frank Smith. A new version appeared in 1967 with Webb and his new partner, Officer Bill Gannon (Harry Morgan, the father of my very good high school friend). “Dragnet” is also known for its theme music and its narrative epilogue describing the fate of the bad guys. (Here's a side note, my father was driving a 1951 two door brown Pontiac. One day leaving the studio, he got in, said he had a hard time turning the key, but it worked, and when he got home, he didn't have the scripts in the car. He then discovered it was not his car. So he drove to the station where he knew some policemen, and they all had a big laugh, got his car back, and they used the story in one of the episodes but it was Friday's sergeant, I believe, who started the wrong car.)
    1952 - Buck Clayton All-Star group jams, Hucklebuck, Robbins' Nest, Christopher Columbus, NYC, on Columbia label.
    1953 - Top Hits
“Rags to Riches” - Tony Bennett
“White Christmas” - Bing Crosby
“Ricochet” - Teresa Brewer
“Caribbean” - Mitchell Torok
    1954 - Willie Mays becomes the first player to win the Most Valuable Player Award in his first full year in the Majors when he easily outdistances Reds first baseman Ted Kluszewski for the honor. The 23-year-old Giants center fielder made his big league debut at the end of May in 1951, but missed the last two seasons due to his military service in the U.S. Army.
    1956 - Elvis Presley leaves the Louisiana Hayride after 50 appearances on the radio show. Broadcast from KWKH in Shreveport, LA, the weekly broadcast made country music stars of several unknowns.
    1960 - A United DC-8 and a TWA Super Constellation collided over Staten Island in NY and crashed, killing all 128 people aboard both aircraft and 6 more on the ground.
    1960 - Lucille Ball took a respite from her weekly TV series to star in the Broadway production of "Wildcat," which opened at the Alvin Theatre in New York City. The show ran for 171 performances.
    1961 - Top Hits
“Please Mr. Postman” - The Marvelettes
“The Twist” - Chubby Checker
“Walk on By” - Leroy Van Dyke
“Big Bad John” - Jimmy Dean
    1961 - Martin Luther King, Jr. and 266 others were arrested in Albany, GA. Considered a major turning point in history, as evidenced by his own words in his autobiography: “On December 16, 1961, the Negro community of that city made its stride toward freedom. Citizens from every quarter of the community made their moral witness against the system of segregation. They willingly went to jail to create an effective protest. “I too was jailed on charges of parading without a permit, disturbing the peace, and obstructing the sidewalk. I refused to pay the fine and had expected to spend Christmas in jail. I hoped thousands would join me. I didn't come to be arrested. I had planned to stay a day or so and return home after giving counsel. But after seeing negotiations break down, I knew I had to stay. My personal reason for being in Albany was to express a personal witness of a situation I felt was very important to me. As I, accompanied by over one hundred spirited Negroes, voluntarily chose jail to bail, the city officials appeared so hardened to all appeals to conscience that the confidence of some of our supporters was shaken. They nervously counted heads and concluded too hastily that the movement was losing momentum. “I shall never forget the experience of seeing women over seventy, teenagers, and middle-aged adults-some with professional degrees in medicine, law, and education, some simple housekeepers and laborers-crowding the cells. This development was an indication that the Negro would not rest until all the barriers of segregation were broken down. The South had to decide whether it would comply with the law of the land or drift into chaos and social stagnation. “One must search for words in an attempt to describe the spirit of enthusiasm and majesty engendered in the next mass meeting, on that night when seven hundred Negro citizens were finally released from prison. Out from the jails came those men and women doctors, ministers, housewives-all of whom had joined ranks with a gallant student leadership in an exemplary demonstration of nonviolent resistance to segregation. “Before long the merchants were urging a settlement upon the city officials and an agreement was finally wrung from their unwilling hands. That agreement was dishonored and violated by the city.” It was inevitable that the sweep of events would see a resumption of the nonviolent movement, and when cases against the seven hundred odd prisoners were not dropped and when the city council refused to negotiate to end discrimination in public places, actions began again.
in Albany, Georgia.
    1962 - Birthday of William “The Refrigerator” Perry, former football player, born Aiken, SC
    1962 - Only one man ever succeeded in swimming all the way to shore from Alcatraz.  John Paul Scott washed up on the rocks at Fort Point. He was so tired from the swim through the frigid waters of the Golden Gate that the boys who found him thought he was an unsuccessful suicide attempt from the overhanging Golden Gate Bridge and called for help. Police apprehended the exhausted swimmer within minutes of his landfall.
    1965 - Gen. William Westmoreland, Commander of U.S. Military Assistance Command Vietnam, sends a request for more troops. With nearly 200,000 U.S. military personnel in South Vietnam already, Westmoreland sent Defense Secretary Robert McNamara a message stating that he would need an additional 243,000 men by the end of 1966. Although the high tide of U.S. troop strength in South Vietnam never reached the 600,000, there were more than 540,000 U.S. troops in South Vietnam by 1969.
    1967 - Wilt Chamberlain of NBA Philadelphia 76ers scores 68 points vs Chicago.
    1969 - Top Hits
“Leaving on a Jet Plane” - Peter, Paul & Mary
“Someday We'll Be Together” - Diana Ross & The Supremes
“Down on the Corner/Fortunate Son” - Creedence Clearwater Revival
“(I'm So) Afraid of Losing You Again” - Charley Pride
    1970 - Creedence Clearwater Revival's "Down On The Corner,” "Lookin' Out My Back Door,” "Travelin' Band,” "Bad Moon Rising,” "Up Around The Bend,” as well as the LPs “Cosmo's Factory,” “Willy And The Poor Boys,” “Green River,” “Bayou Country,” and “Creedence Clearwater Revival,” are all certified gold.
    1971 - Melanie (Safka) earned a gold record for her single, "Brand New Key," about roller skates and love. It hit #1 on Christmas Day, 1971.
    1971 - Don McLean's eight-minute-plus (8:32) version of "American Pie" was released. It became one of the longest songs with some of the most confusing (pick your favorite interpretation) lyrics to ever hit the pop charts. Disc Jockeys also liked the song because it allowed them time for “potty breaks” from the microphone. "American Pie" hit #1 on January 15, 1972.  However open to interpretation the lyrics may have been, the song's emotional resonance was unmistakable: McLean was clearly relating a defining moment in the American experience—something had been lost, and we knew it. Opening with the death of singer Buddy Holly and ending near the tragic concert at Altamont Motor Speedway, we are able to frame the span of years the song is covering—1959 to 1970—as the "10 years we've been on our own" of the third verse. It is across this decade that the American cultural landscape changed radically, passing from the relative optimism and conformity of the 1950s and early 1960s to the rejection of these values by the various political and social movements of the mid and late 1960s.   
    1972 - Billy Paul's "Me and Mrs. Jones" hits #1
    1972 - The Miami Dolphins became the first NFL team to go unbeaten and untied in an NFL regular season, then 14-games. The Dolphins beat the Baltimore Colts to earn the honor. Larry King, incidentally, did color for the Dolphins this year on radio.
    1972 - Paul McCartney's single, "Hi, Hi, Hi," was released. It peaked at #10 on the top tune tabulation (February 3, 1973).
    1973 - Buffalo's O.J. Simpson runs for 200 yards against the New York Jets, becoming the first person to top 2,000 yards rushing in an NFL season (2,003).
    1974 - Arbitrator Peter Seitz declared A's ace, Catfish Hunter, to be a free agent as a result of A's owner, Charles Finley, failing to make insurance premium payments on Hunter's behalf, as stipulated in the player's contract. This led to a bidding war among MLB owners, won by the Yankees. Hunter went on to become a Hall of Famer.
    1975 - “One Day at a Time” premiered on TV. This sitcom about a divorced mother raising two girls in Indianapolis starred Bonnie Franklin as Ann Romano, Mackenzie Phillips and Valerie Bertinelli as daughters Julie and Barbara Cooper. Other regulars included Pat Harrington, J., as snarky, tool-belt-wearing maintenance man Dwayne Schneider, Richard Masur as David Kane, Ann's boyfriend, Mary Louise Wilson as neighbor Ginny Wroblicki, John Hillerman and Charles Siebert as Ann's bosses, John Putch as Barbara's boyfriend and Nanette Fabray as Ann's mother. During the course of the series, all three female leads got married and Ann opened her own ad agency.
    1975 - The Bay City Rollers earn a Gold record for their first US single, "Saturday Night." They will go on to have five more Billboard Top 40 hits.
    1976 - Andrew Young named Ambassador and Chief US Delegate to the United Nations. He resigns his congressional seat on January 29, 1977 to take the position.
    1977 - Top Hits
“You Light Up My Life” - Debby Boone
“How Deep is Your Love” - Bee Gees
“Blue Bayou” - Linda Ronstadt
“Here You Come Again” - Dolly Parton
    1977 - The Bee Gees' "How Deep Is Your Love" is certified gold
    1978 - Cleveland, Ohio became the first city in the post-Depression era to default on its loans. Plagued by political sniping between its mayor and city council, as well as an eroding economic base, Cleveland managed to pile up $14 million in debt to a number of local banks.
    1981 - Ray Charles is awarded a star on the Hollywood Walk of Fame at 6777 Hollywood Blvd.
    1982 - Operating capacity of factories plummets. Heading into the 1980s, America's economy was hardly in the best shape. Indeed, years of mounting debt and rising inflation had taken their toll on the nation's fiscal health. Alas, the first few years of the '80s provided little change, as the economy did not take well to Reaganomics, President Ronald Reagan's strategy of tax cuts and spending hikes. And, throughout 1982, the government released a stream of financial statistics that suggested that the situation was only growing worse. In July, the Census Bureau announced that the poverty rate had risen to 14 percent, which marked a rapid-fire 7.4-percent increase over its mark in 1980. That same November, the Labor Department revealed that the cost of living had suffered a 6-percent increase during the past twelve months. And, on December 16, the Federal Reserve released a report indicating that the operating capacity of U.S. factories had plummeted to 67.8 percent, the nation's lowest mark since the indicator was introduced in 1948.
    1983 - Replacing Billy Martin (91-71, third place), Yogi Berra is hired for the second time to manage the Yankees. The Hall of Famer's self-exile from Yankee Stadium will last for nearly 15 seasons, after he is dismissed 16 games into the 1985 season despite receiving assurances from owner George Steinbrenner that he would not be fired. Steinbrenner chose to deliver the message to the Yankee great through Clyde King rather than doing so in person, the singular reason Yogi stated he would stay away from the beloved ballpark.  They reunited in 1999 and remained good friends until Steinbrenner’s death in 2010.
    1985 – Mobsters Paul Castellano and Thomas Bilotti were shot dead in front of Sparks Steak House in Manhattan on the orders of John Gotti, who assumed leadership of New York's Gambino crime family. 
    1985 - Top Hits
“Broken Wings” - Mr. Mister
“Say You, Say Me” - Lionel Richie
“Party All the Time” - Eddie Murphy
“Nobody Falls Like a Fool” - Earl Thomas Conley
    1987 - A Pacific storm battered the coast of California with rain and high winds, and dumped heavy snow on the mountains of California. Winds along the coast gusted to 70 mph at Point Arguello, and winds in the Tehachapi Mountains of southern California gusted to 100 mph at Wheeler Ridge. Snowfall totals ranged up to 24 inches at Mammoth Mountain. Snow fell for two minutes at Malibu Beach, and Disneyland was closed due to the weather for only the second time in twenty-four years. A winter storm which began in the Southern Rockies four days earlier finished its course producing snow and high winds in New England. Snowfall totals ranged up to 19 inches at Blanchard, ME.
    1989 - Fifty-seven cities from the Southern and Central Plains to the Appalachians reported record low temperatures for the date, including North Platte, NE with a reading of 17 degrees below zero. Squalls in the Great Lakes Region produced 18 inches of snow at Syracuse, NY, and 30 inches at Carlisle, IN. Low pressure brought heavy snow to northern New England, with 18 inches reported at Derby and Saint Johnsbury, VT.
    1992 - IBM said it would make its first layoffs in fifty years. The company announced it would trim its staff by 25,000 employees and dispose of some of the assets of its mainframe business. IBM had long been the leading maker of mainframe computers, but in the late 1990s, demand declined as personal computers became increasingly powerful.  IBM eventually sold its PC business to Lenovo, a Chinese company.
    1993 - Woman-harassing Senator Robert Packwood (R-OR) finally surrenders his diaries to a judge who turned them over to the Senate Ethics Committee. Some of the tapes had been altered. Women's groups had argued for years that Packwood should be brought up on charges of sexual harassment. According to information released to the press, Packwood had a long history of groping women, forcing himself on them using his political power, and in general being a leech. He would eventually resign from the Senate.
    1995 - The Beatles' "Free As A Bird" peaks at number 2 on the UK charts and number 6 in the US. Written by John Lennon and performed by him on piano as a rough demo shortly before he was murdered, the track was completed by the remaining Beatles at Paul McCartney's home studio.1995-The Beatles' "Free as a Bird" peaks at number 2 on the UK charts and number 6 in the US. Written by John Lennon and performed by him on piano as a rough demo shortly before he was murdered, the track was completed by the remaining Beatles at Paul McCartney's home studio.
    1998 - Hundreds of missiles were fired on Iraq in response to Iraqi President Saddam Hussein's refusal to comply with the mission of United Nations weapons inspectors.
    2000 - An F4 tornado hits communities near Tuscaloosa, AL, killing 11 people and injuring 125 others. It was the strongest December tornado in Alabama since 1950.
    2002 - After being invited to the Dominican Republic by President Hipolito Mejia, Japanese home run king Sadaharu Oh meets one his favorite players, island resident Sammy Sosa. The Dominican outfielder, who is one homer shy of the coveted 500, will have to hit several hundred more to reach the mark of 868 set by the 62-year old during his 22 seasons playing for the Yomiuri Giants.
    2002 – DH David Ortiz was released by the Minnesota Twins. The unheralded player will soon be picked up by the Red Sox, for whom he will develop as one of the most accomplished sluggers in the game.  He retired after the 2016 season, having hit 541 HRs, was a big part of the Sox’ World Series championships in 2004, 2007 and 2013.
    2010 - Paul McCartney paid tribute to his Beatles band mate John Lennon during an appearance on Saturday Night Live where he performed "A Day in the Life" and then thrilled viewers with a cover version of his late friend's anti-war anthem "Give Peace a Chance."
    2011 - A federal judge sentences former Giants' super-star Barry Bonds to 30 days of house arrest, 2 years of probation, 250 hours of community service, and a $4,000 fine. The all-time home run champion, who is appealing his guilty verdict for the obstruction of justice, could have faced 15 months of jail time, as recommended by the prosecution. Many believe he should have his hitting record deleted from the history books. The perjury charges against Bonds were dropped, but he was convicted of obstruction of justice. This conviction was upheld by an appellate court panel in 2013, but after a rehearing, a larger panel of the court voted 10-1 to overturn his conviction in 2015. He served as a batting coach for the Miami Marlins in 2016 but was not retained for the 2017 season.
    2019 – New Orleans Saints QB Drew Brees broke Peyton Manning’s NFL record for career touchdown passes (539) in a 34-7 rout of the Indianapolis Colts.  In the 2020 season, he stands at 565 TD passes and nearly 80,000 total passing yards.  He also holds a number of other career passing records.



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?



Daily Puzzle

How to play:

Refresh for current date:






See USA map, click to specific area, no commercials



Traffic Live---

Real Time Traffic Information

You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live



How to Play



Alerts and Flags
Bank Beat
Brian Link Observations
Career Crossroads-Emily Fitzpatrick/RII
Charlie Chan sayings
Computer Tips and Social Media
Credits and Collections 102
Customer Relation Management Keeps Score
Dan Harkey Observations
Employment Web Sites
Equipment Leasing Haiku by Paul Bent
Fernando's Review
Financial Technology 102
From the Desk of Michael Witt, Esq.
Ken Greene Leasing & Finance Observations
Leasing 102
Leasing Cases by Tom McCurnin
Observations from the Front Porch by Jim Acee
Online Newspapers
Recruiter Hal T. Horwitz Speaks Out
Sales Make it Happen
San Francisco Valley Leasing
The Secret of Our Success
The Top Performer’s Corner
To Tell the Truth
TV Reviews by Kit Menkin
Ultimare Hire by Ken Lubin, ZRG Partners
View from the Top
Why I Became a CLP
Wine Reviews by Kevan Wilkinson

Ten Top Stories each week opened the most by readers
(click here)

“Complaints” Bulletin Board (click here)

Connect with Leasing News