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Equipment Leasing
Senior Funding Manager
Portsmouth, NH

If you have a minimum of 4 years experience in Credit and Funding in the Leasing industry we'd like to speak with you. For more information, please contact Rick at

Friday, December 2, 2005


Archives--December, 2000--Matsco Companies
    Classified Ads---Sales
        Sales Salaries in United States
Graphs: Leasing Industry Best Month/Quarter
    IRA Z. ROMOFF Monthly Report
        Stephen Lahti Joins Affiliated Investment Group
Classified Ads---Help Wanted
    NACM's CMI Index Up
        Beige Book-Still Positive, But...
Weekly Bulletin Board Complaints
    Access National Announces Stock Split
        Key/UBS Leasing Strategic Partner
CIT William A. Farlinger Passes Away
    News Briefs---
        You May Have Missed--
"Gimme that Wine"
    Today's Event in History
        This Day in American History
            American Football Poem

######## surrounding the article denotes it is a "press release"

Archives--December, 2000

Greater Bay Bancorp Completes Acquisition of the Matsco Companies

PALO ALTO, Calif., / -- Greater Bay Bancorp (Nasdaq: GBBK), a $4.3 billion ($4.7 billion on a pro forma basis) in assets financial services holding company, announced today that it has completed the acquisition of The Matsco Companies Inc. Matsco, with approximately $200 million in assets and headquartered in Emeryville, California, specializes in financial services for the dental and veterinary markets. Greater Bay Bancorp paid the Matsco shareholders $6.5 million in cash upon the closing and will pay up to an additional $6.0 million (on a present value basis) in an earn-out arrangement over a 5 year period.

Greater Bay Bancorp anticipates the transaction to be 2% accredited to 2001 earnings, after goodwill amortization and excluding one-time nonrecurring transaction-related expenses. Greater Bay Bancorp has not included any anticipated revenue enhancements that may be realized from the acquisition. On a pro forma basis as if the acquisition had closed on September 30, 2000, the combined company would have had total assets of approximately $4.7 billion, which includes the recently completed mergers with Bank of Santa Clara and Bank of Petaluma.

David L. Kalkbrenner, President and Chief Executive Officer of Greater Bay Bancorp, commented, "We are very pleased to welcome Matsco to the Greater Bay Bancorp family. Matsco's experienced management team and dedicated employees bring to Greater Bay Bancorp a niche financial services business focused on the professional health care market with a proven track record. Matsco's equipment leasing and commercial finance capabilities provide Greater Bay Bancorp with the ability to expand our service offerings to current clients, as well as the opportunity to offer other credit and deposit services to Matsco's existing clients."

Matthew Shipman, President and Chief Executive Officer of Matsco who will continue to lead Matsco as part of Greater Bay Bancorp, said, "The Matsco team is very pleased to join the Greater Bay Bancorp family. We see significant cross-selling opportunities which we believe will benefit the entire combined company as well as our valued clients."

Matsco offers a complete range of finance products and services to meet the needs of dentists and veterinarians throughout their professional career. The Company is endorsed exclusively by the American Dental Association (ADA) and California Dental Association (CDA). The principal financial products offered by Matsco include practice start-up financing, practice expansion financing, practice acquisition financing, working capital and financing for retirement planning. These products are structured as either equipment leases or loans.



Classified Ads---Sales

Sales: Arizona/Southwest
Leasing and Financial Services Professional. Over 12 yrs+ experience in commercial municipal and federal leasing. Vendor programs and direct lessor, including technology and project finance.
Sales: Bakersfield, CA.
I have an extensive sales and management background in equipment leasing. My work history exhibits my major strength in small ticket equipment leasing.
Sales: Boston, MA.
Middle market originator, construction/Trucks /
Trailers w/ 8 years in territory, looking for company / bank with competitive products
Sales: Cedar Rapids, IA.
Formally trained in Credit, Collections, & Sales with regional bank. Seeking sales or sales management.
Over ten years
in SM, vendor and end user.
Sales: Central, NC.
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base.
Sales: Denver CO.
Experienced Equipment Leasing Broker looking for a in house leasing company. Can bring a book of business with me or develop new territory where needed.
Sales: Detroit MI
Motivated self-starter w/5 yrs sales exp. IT leasing. Excellent communicator w/strong negotiation/biz dev. skills. Six-sigma certified w/ Fortune 50 company/book of business.
Sales: East Central Florida
20+ years experience in all areas of leasing; sales, credit, operations, syndication. Currently independent seeking position with direct middle market lender in regional capacity
Sales: Fresno CA.
Account Exec/Manager. 7+ years Leasing Sales: underwriting/contract, complex transactions, hi-tech, government, direct & vendor leasing. Captive & syndicator environments. Expert deal closer. Will send resume.
Sales: Grand Rapids, MI.
17 years sales/ sales management in Britain specializing in operating leasing/ Asset Management within middle ticket market. Credit/
documentation skills. Previous sales experience in Michigan.
Sales: Greensboro, N.C. Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Sales: Kansas City, MO.
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12
Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Sales: Los Angeles CA.
5 years experience structuring off-balance sheet finance solutions on computer and medical equipment. Perform detailed competitive analysis and market research. I uncover leads and sell.
Sales: Louisville, KY
Sales: 20 yr. "go getter" machine tools/const. leasing/finance pro, establishing. vendor/mfg. programs in KY,TN,OH,IN, will travel 3/5 state area, wants stable company + salary/ com./benefits.
Resume | Cover letter
Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Sales: Montgomery, AL.
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker.
Sales: Nashua, NH.
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
Sales: Newport Beach, CA
Direct sales rep. in the middle market w/22 years experience  various types of equipment. Leasing/ financing from medical equip. to
mfg. equip.. Strong closer.
Sales: Philadelphia , PA Seeking an open opportunity to advance in the automotive, commercial leasing & finance industry.........
S ales : Philadelphia, PA
25 years in Healthcare and seeking an opportunity to represent a lender for dental/medical funding in the Northeast to
Mid-Atlantic states.
Sales: Portland, OR.
"Exp. In direct sales and sales mgmt.
I love Portland, but decent here jobs are few. Willing to be re-located, would like to work for you.
Email: "
Sales: Prairie Village, KS Have substantial deal flow and database of broker referral sources. Generated and closed over $22M LY. Seeking exclusive relationship w/direct founder.
Sales: San Francisco Bay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only. Transaction size from $500M to $10.0MM. Client base: printing, food, retail, manufacturing.
Sales: San Francisco Bay Area, CA
Rainmaker / Hunter: Currently employed Vendor Program Originator. Proficient with technology to yellow iron assets and complex program development. Extensive national Rolodex.
Sales: SF Bay Area, CA.
15+ yrs--mid mkt. $500M to $10.0MM. Seeking role w/ captive or global leasing firm. large book to bring with me! Debt, tax, 1st amendment, etc. Email:
Sales: Southern California
Equipment Financing Professional with strong background in Sales, Management, Marketing & Operations. Will consider relocation for Senior Sales or Management position offering dynamic growth opportunity.
Sales: South Central U.S.
TX, OK, KS & AR Territory.
Equipment finance and leasing professional, 20 years experience. Top producer in middle to upper middle markets. Extensive customer base.

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

To place a free "job wanted" ad, please go to:



Sales Salaries in Atlanta as Compared to the rest of the United States

Job Title
Atlanta Total
Georgia Total

Georgia Median

National Total
National Median
Advertising sales agents
Counter and rental clerks
Demonstrators and product promoters
Door-to-door sales workers, news and street vendors and related workers
First-line supervisors/workers of non-retail sales workers
First-line supervisors/managers of retail sales workers
Gaming change persons and booth cashiers
Insurance sales agents
Parts Salespersons
Real state brokers
Real state sales agents
Retail Salesperson
Sales and related occupations
Sales and related workers, all other
Sales engineers
Sales representatives, services, all other
Sales representatives, wholesales and manufacturing, except technical and scientific products
Sales representatives, wholesales and manufacturing, except technical and scientific products
Securities commodities, and financial services sales agents
Travel Agents

Atlanta salaries for more than 800 job classifications

(This is an excellent newspaper to subscribe to. Getting a log in and password is not difficult, and you can save in your browser to open up automatically)



Graphs: Best Month and Quarter for Leasing Industry

On a quarterly basis, 3.66 first quarter, 4.45 second quarter, 5.31 third quarter.

The Equipment Leasing Association (ELA) released their Month-end Leasing Index (MLI) of 19 major equipment leasing companies. This is the highest report since ELA started the MLI index with new business volume increasing from September's $5.06 billion to $6.59 billion, representing a 30.2 percent increase.

This includes the impact of the three hurricanes that hit the Southeast. Surprisingly, even with the changes in the bankruptcy law, average charge-offs decreased from September's .069% to .057%.

Credit approvals were also up: 82.7% percent compared with 82% in September

The 19 leasing companies, who make up the MLI index include:

ADP Credit Corporation
Amsouth Leasing Corporation
Bank of America
Caterpillar Financial Services Corporation
De Lage Landen Financial Services
First American Equipment Finance
GreatAmerica Leasing
Hitachi Credit America Corp.
HP Financial Services
John Deere Credit Corporation
Key Equipment Finance
LaSalle National Leasing Corporation
Marlin Leasing Corporation
RBS Asset Finance
Siemens Financial Services
U.S. Bancorp Leasing & Financial
Verizon Capital Corporation
Wells Fargo Equipment Finance

"The outlook for the fourth quarter is very solid," according to Ralph Petta, Vice President of Industry Services for the ELA. "Strong new business originations coupled with solid portfolio quality point to a healthy leasing and finance business. Hopefully, these metrics hold throughout the quarter," he said.

Petta believes because the same companies participate in the study each month, the MLI provides a fairly reliable and consistent trend analysis of current industry activity. Results of each MLI are posted on the ELA website and in Equipment Leasing Today magazine.

Delinquencies (net of unearned income billed but not yet received) remained virtually unchanged from September, coming in at 97.8 percent.

The total number of employees decreased slightly to 8,962 compared to 9,001 in September.

In addition to the monthly MLI report, the Equipment Leasing Association provides a variety of data, including customized market analyses, to ELA members and organizations involved in the forecasted $248 billion equipment leasing industry. To access this and other industry information, visit the ELA website at or contact Dean Frutiger at (703) 516-8380.



IRA Z. ROMOFF Monthly Report

Rates bounced around all month. The two-year T-Bill went up, then down, and finished exactly where it was at the beginning of November. Economic indicators suggested inflation was either not a worry, a big worry or in between. The effect of three hurricanes were either good for the economy due to reconstruction, bad for the unemployment it caused or unimportant to the US economy as a whole. I won't talk about the good stock market, bad auto industry or oil prices. When in doubt.leave well enough alone. so this month our rates will not change. Each month we set rates for the approvals during the month. We then hold our credit approvals for 90 days and also lock the rate for 60 days.

For those of you haven't kept up with our merger news, the agreement between Independence and Sovereign will bring together two strong financial institutions to create a Northeast region powerhouse. Independence will be the Metro New York Market Division of Sovereign, which becomes the 18th largest bank in America. With $81 billion in assets and deposits of more than $47 billion, we will have a network of 800 branches, stretching from New England to New York to New Jersey to Philadelphia and to eastern Pennsylvania.

For now, it's business as usual for us. While we always appreciate your business, we need to rely on you now more than ever to see that ICB Leasing continues to grow and prosper. Our growth has been rapid - we're a nine-figure company now - and our staff continues to expand. (p.s. If you know of any leasing credit officers looking to work in Manhattan, have them give us a call or e-mail.)



NYC, N.Y. 10176
212 209-9177
212 209-9179 (FAX)
201 776 7040 (CELL)



Stephen Lahti Joins Affiliated Investment Group

Affiliated Investment Group, Inc., "The Flexible Funding Source" has announced Stephen M. Lahti as National Account Manager. Stephen Lahti is a recent graduate of the McCombs School of Business at the University of Texas.

James R. Lahti, CLP, President, "I am very pleased to announce my son as the newest addition to our team. His business skills are apparent and his enthusiastic approach to Leasing Life has been well received by all".

Affiliated Investment Group, Inc.
401 East Corporate Drive, Suite 250-A
Lewisville, Texas, 75057
(972) 221-7335, Fax 972-221-7335



Classified Ads---Help Wanted

Documentation Manager

Equipment Leasing
Documentation Manager
Walnut Creek, CA

Manage all aspects of the lease documentation unit. Requires a BA/BS; 7+ years of leasing and contract experience; Click here for detailed description & resume submission info.

Equipment Finance & Leasing Representative

Job opening in New England

In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout New England. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at and view posting 5245.

At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!


Job opening in
Baltimore/Virginia Region

In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout Baltimore/Virginia Region. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at and view posting 5245

At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!

Senior Funding Manager

Equipment Leasing
Senior Funding Manager
Portsmouth, NH

If you have a minimum of 4 years experience in Credit and Funding in the Leasing industry we'd like to speak with you. For more information, please contact Rick at



NACM's CMI Index Up

Dan North, Chief Economist with EulerHermes ACI, notes that this improvement was offset by a sharp deterioration in November sales, a pattern likely to be repeated in December as orders typically plunge after the peak holiday season.

The National Association of Credit Manager's Index rose to 57.4 in November, above October's 56.6. The Index is now 1.2% higher than last November and represents solid economic growth.

"It is worthwhile to note that both dollar collections and dollar amount beyond terms improved significantly, both for the month and the year, "North noted."... this data suggests that buyers are able to make payments more easily and are likely to be in better financial health, and that business and economic conditions are looking up."

For the manufacturing sector, a drop in new sales was counter-balanced by a lower rate of bankruptcies for the month of November. Credit managers reported that sales dropped from 68.9 percent to 60.7 percent, or 280 basis points. However, lower numbers of customers filing for bankruptcy pushed the manufacturing CMI up 180 points, to finish at 57.8 percent. Fewer disputes coupled with less payments going beyond terms also contributed to the increase shown in the CMI.

The full report is available at:



Beige Book-Still Positive, But...

U.S. economic activity increased across the country through mid-November but the housing market has cooled and high energy prices have raised concern about consumer spending and production costs, the Federal Reserve Reported.


New York






St. Louis


Kansas City


San Francisco

Full Report:



Weekly Bulletin Board Complaints

These have not been written for several months due to the time needed, plus some have been settled quickly, while others are bogged down. And we have a repeat "guest," again.

Some are resolved quickly, and others get more complicated.

#1 there are five complaints against a company that has been in the news lately, and since they are not in the stage to name names, readers will have to guess (you are most likely correct.)

Two are from vendors who could not wait any longer, took the applicant to another leasing company, then paid the advance fees themselves. Our process concerns the complaint coming from the applicant, particularly when documents were signed that if the applicant goes elsewhere, they forfeit the deposit. In these two instances, one lessee does not want their name in Leasing News, and the second is angry at the vendor, saying it is his fault and his problem.

The two other's are from brokers who submitted transactions that have not funded. In both cases, they have not be able to obtain a statement from the applicant, whom one is not returning calls, and the other is a referral from a vendor who wants to have nothing to do with the broker, wanting the broker to come up with the advance rental and another source for the lease.

We have a fifth complaint on this company with information to follow. This comes from a broker who found us via Google, and he asked us for advice. We told him to pray, and get the information to us as fast as possible as the entire situation does not look very good.

The total amount is over $300,000, not counting those reported elsewhere.

#2 This complaint concerns an extra 12 months payment at the end of the lease, claimed by an Orange County "broker/lessor." Finally getting all the paperwork and correspondence, it appears the lessee did not want to pay the purchase option, and therefore the lessor started the automatic 12 month payment procedure. In fact, the lessee made two payments, and at the same time, informed the lessor's leasing association board of directors individually, by e-mail, about what he thought of the lessor and what was going on, from his view point. This seems to have settled as the lessee will get credit for the two extra payments, and deducted off the purchase option, which he know has agreed to pay.

#3 This complaint takes over 40 pages of fax from the applicant to document, but basically they signed an agreement, then five days later put a stop payment on it ( which was successful.)

In the meantime, the lessor has filed action in small claims court for the commitment fee. The applicant located out of state was denied a postponement of the small claims court hearing in California. There are several questions about the lease contract itself, made out to an individual, not a company, plus a question of whether the contract is valid or not as no "cash" was received ( a check is a note.) In addition, the contract has a venue of Orange County and therefore the court said the hearing would be held on December 1,2005. The check was for $1,568.74 but the lessor claims $4,668.74: "Defendant entered into a non-cancelable contract for equipment financing. After sending check for commitment fee******* secured an approval per terms of above mentioned contract. Defendant put a stop payment on issued check which is breach of said contract."

#4 This looks like it may be published in the Leasing News Bulletin Board Complaint. The company is no longer licensed in the State of California, a sign of difficulties to follow. They have not returned e-mails or telephone calls:

"My name is *******s, my husband and I own *******Excavating in Iron River, WI. I was given your e-mail by ******** at ****** Leasing, Long Beach, California. I contacted ********* to refinance a payoff to CAT for a piece of equipment. I was looking for a loan to payoff the balloon payment that was due of $30,000. I talked to ***** ****** about financing this for us. The initial conversation was, I need to finance a balloon payoff could he help me with this. He said he had many options and it would not be a problem. He then recon me with 3 options, I took the option for a 4yr payoff at 5%. Then everything started changing.. What caught my attention was a phone call from ****** to verify information. When he told me there would be a FMV buyout at the end I had him explain this to me as this was not what I was expecting. This brought up other questions and the fact that this was not a loan but a lease and it should come out to about 5% when we take all the tax advantages. I told him we are a small company and this would not work for us. At this point he basically said tough luck. I have received a check from them for $860.18 that says if cashed this is full and final. I sent them a total of two checks for $1851.78 and would just like to get our money back.

"Any help you can offer would be greatly appreciated!"


SAN FRANCISCO---In the winter of 1891, Salvation Army Captain Joe McFee put a crab pot on the San Francisco docks and asked citizens to "keep the pot boiling" by making donations so he could feed the needy at Christmastime.These days, we all know this "crab pot" to be The Salvation Army Christmas Kettle



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

Access National Announces Stock Split

(Access National Leasing Corporation)

RESTON, Va.------Access National Corporation (NASDAQ:ANCX) announced today that its Board of Directors has authorized a 2 for 1 stock split in the form of a 100% stock dividend for shareholders of record as of December 12, 2005, payable December 23, 2005.

According to CEO Michael Clarke, "This is a fitting reward to our shareholders as we celebrate the sixth anniversary of our business. This caps off a year of many milestones, most illustrated by our debut as #11 on U.S. Banker Magazine's annual listing of Top Community Banking Companies published in July of this year."

Access National Corporation serves as the holding company for Access National Bank and its subsidiaries, Access National Mortgage Corporation and Access National Leasing Corporation. As of September 30, 2005, the company reported Total Assets of $527 million.

This press release contains "forward-looking statements" within the meaning of the federal securities laws. These statements may be identified as "may", "could", "expect", "believe", anticipate", "intend", "plan" or variations thereof. These forward-looking statements may contain information related to those matters such as the Company's intent, belief, or expectation with respect to matters such as financial performance. Such statements are necessarily based on assumptions and estimates and are inherently subject to a variety of risks and uncertainties concerning the Company's operations and business environment, which are difficult to predict and beyond control of the company. Such risks and uncertainties could cause the actual results of the Company to differ materially from those matters expressed or implied in such forward-looking statements. For an explanation of certain risks and uncertainties associated with forward-looking statements, please refer to then Company's Annual Report on Form 10-K and other SEC filings.

Access National Corporation Michael Clarke, 703-871-2100


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

Key Equipment Finance Selected by UBS Leasing as Strategic Partner

SUPERIOR, Colo.-----Key Equipment Finance, the third-largest bank-held equipment leasing company in the U.S. and an affiliate of KeyCorp (NYSE:KEY), today announced that it has been selected as a strategic partner of UBS Leasing. UBS Leasing is a subsidiary of UBS, one of the world's leading financial services companies and a market leader in Swiss private and corporate customer business.

UBS Leasing will be able to provide an expanded product and service offering to UBS bank customers in Switzerland interested in leasing technology and other business-related assets. This strategic partnership provides a competitive advantage to UBS Leasing with products such as project financing, technology refresh and off balance sheet lease financing, which can enable companies to take advantage of benefits like upgrade flexibility, optimal asset management and improved balance sheet management.

"UBS is a leading, global financial organization that is committed to meeting the needs of its customers," said Karen Larson, president and chief operating officer of Key Equipment Finance's global vendor services unit. "UBS Leasing already provides a wide range of financing for all types of assets, from motor trucks to technology equipment to ships for companies of all sizes, and we look forward to working with them to offer a more diversified product offering in response to increasing demand from their customers."

UBS Leasing noted Key Equipment Finance's comprehensive product offering, including US-GAAP and IAS/IFRS-compliant lease structures, as well as approximately 30 years' experience providing financing options to companies worldwide, as the primary reasons for selecting Key Equipment Finance as a strategic partner.

"Key Equipment Finance is regarded throughout the industry as a leading provider of equipment financing options for global companies," said Gino Giuliato, CEO at UBS Leasing. "Through this alliance, we will be able to provide an expanded range of products and services to meet the equipment leasing needs of mid- to large-sized businesses throughout Switzerland. We look forward to working with Key Equipment Finance's leasing experts to fulfill the increasing demand for flexible leasing options from our new and existing customers."

About UBS Leasing

UBS Leasing, a UBS subsidiary headquartered in Zurich with offices in Lausanne and Lugano, is specialized in financial leasing of mobile capital equipment and refinancing of tenancy agreements. UBS Leasing is one of the leading financial companies in Switzerland; the continuous growth bears witness for the marketability and the competitiveness of the company.

About Key Equipment Finance

Key Equipment Finance is an affiliate of KeyCorp (NYSE:KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:

-- businesses of all sizes in the U.S. and Canada (from small business to large corporate);

-- equipment manufacturers, distributors and value-added resellers worldwide;

-- federal, provincial, state and local governments as well as other public sector organizations; and

-- lease advisory services for manufacturers' captive leasing and finance companies.

Headquartered outside Boulder, Colorado, Key Equipment Finance manages a USD12 billion equipment portfolio with annual originations of approximately USD5 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois; Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately USD92 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

Keeton Public Relations for Key Equipment Finance Cori Keeton Pope, 303-282-4981


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

CIT Expresses Sympathy on Death of Board Member William A. Farlinger

NEW YORK, -- CIT Group Inc. (NYSE: CIT),

mourns the loss of Board Member William A. Farlinger who passed away earlier this week.

On behalf of the Company, Jeffrey M. Peek, Chairman of the Board and Chief Executive Officer, extends condolences to his wife, Esther, and the entire Farlinger family. Mr. Farlinger first joined CIT's board in 1999. As a member of the Audit Committee, his knowledge of accounting and sound business judgment was invaluable to the Company. The Board, management and employees of CIT are grateful for his dedication, service and leadership contribution.

About CIT:

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has over $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its Global Headquarters in New York City, CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and SouthAmerica, and the Pacific Rim.


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

News Briefs----

Manufacturing, construction, spending figures suggest economy gaining strength

Economic indicators at pre-hurricane levels

Rates on 30-year mortgages dip for second week

U.S. Home Prices Jump 12.02 Percent

Auto sales fall in November

Predictions matter more to stores than shoppers

European bank raises rates to 2.25%, first hike in 5 years

Media Group Calls for Disclosure in AMD vs. Intel

Letterman welcomes Oprah as guest after 16-year feud



You May Have Missed

Alarm over dramatic weakening of Gulf Stream,3605,1654803,00.html?gusrc=rss



"Gimme that Wine"

Shipping wine? Don't ask, don't tell

Californian winery launches podcasting service

Single-serve plastic bottles are starting to show up

Actor Dan Aykroyd invests $1 million to promote Ontario wines


If you want to know if you got a value for your wine, or what the wine price is today, go to Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1998 Viader



Today's Top Event in History

    1823-President James Monroe, in his annual message to Congress, enunciated the doctrine that bears his name and that was long hailed as a statement of US Policy"...In the wars of the European powers in matters relating to themselves we have never taken any part---we should consider any attempt on their part to extend their system to any portion of this hemi-sphere as dangerous to our peace and safety." George Washington in his farewell speech noted his policy and opinion, but obviously was not followed as the United States continued its expansion into foreign territory owned by European countries, including Ohio, Florida, West of the Mississippi and Canada, which in part contributed to the War of 1812 with Britain. By this year, the United States had claims on most of the territory except for what was owned by Mexico and Russia, (not including islands such as Hawaii or other areas owned by Spain or lands still considered to be Indian territory) which we either traded or conquered, such areas which are now part of the South West, including California. The posturing of US, or for that fact, any foreign government official, often had little to do with "reality," meaning the "expansion" or "acquisition." Read your American history, not what they taught you in grammar or high school.



This Day in American History

    1662-An act "prohibiting the entertainment of Indians without badges" was passed by the Assembly at James City, VA. Colonial badges were issued to "friendly Native Americans, authorized in Virginia by the Act of 1661, which authorized "silver and plated plaques to be worn by the Indians when visiting the settlements." One of these has a crude representation of a tobacco plant and scrolls, above which is "The King OF" on the obverse, while on the reverse is a similarly engraved plant and the word "Patomeck" with the "e" over lined. The surface edges were engraved to represent scrolls and foldings, while the medal was holed for suspension. It was also common in many Southern states to require slaves of all races and colors to wear "badges" or "medal tags" to donate their owner, plus giving the authority to be off the "premises." There were also
"slave hire badges," worn by slaves hired out by their owners.
This site sells these pieces of history:
here are 1834-Slave tags
    1763-Members of the Jewish community of Newport, Rhode Island witnessed the dedication of the Touro Synagogue, the first synagogue in what became the United States. Sephardic Jews in Jamaica, Surinam, London and Amsterdam sponsored the building of this first major center of Jewish culture in America. Designed in the Georgian style by English architect Peter Harrison, the synagogue was named for Isaac Touro, its first officiating rabbi. There were Jewish religious meetings in New York and Atlanta, Georgia, however this is considered the first building. It is considered an architectural masterpiece, and by the way, Touro Synagogue is the sole surviving synagogue built in colonial America.
(lower half of: )
    1777- Linda Barrington Darrah is known as "The Spay Who Saved George Washington." History records she hid this evening in the linen closet and listened to the British leaders discussing a surprise attack against Washington's army. The next day she walked several miles through the snow to the American army's location at Whitemarsh to alert Washington so that when the British launched its attack, Washington and his men were ready. This was considered one of the major turning points in the war as the American army, instead of forcing the British troops back to Philadelphia, would have faced almost total destruction.
    1812-James Madison was re-elected president of the United Sates, defeating De Witt Clinton of New York, who had been endorsed by the Federalists and by Democratic-Republicans opposed to the war. Elbridge Gerry, Democratic-republican of Massachusetts, was elected vice president. The presidential electoral vote was Madison, 128; Clinton, 89. The vice president electoral vote was Gerry, 131; Charles Jared Ingersoll, Federalist of Pennsylvania, 86
    1823-President James Monroe, in his annual message to Congress, enunciated the doctrine that bears his name and that was long hailed as a statement of US Policy"...In the wars of the European powers in matters relating to themselves we have never taken any part---we should consider any attempt on their part to extend their system to any portion of this hemi-sphere as dangerous to our peace and safety." George Washington in his farewell speech noted his policy and opinion, but obviously was not followed as the United States continued its expansion into foreign territory owned by European countries, including Ohio, Florida, West of the Mississippi and Canada, which in part contributed to the War of 1812 with Britain. By this year, the United States had claims on most of the territory except for what was owned by Mexico and Russia, (not including islands such as Hawaii or other areas owned by Spain or lands still considered to be Indian territory) which we either traded or conquered, such areas which are now part of the South West, including California. The posturing of US, or for that fact, any foreign government official, often had little to do with "reality," meaning the "expansion" or "acquisition." Read your American history, not what they taught you in grammar or high school.

    1831- Birthday of Francis N. Peloubet, American Congregational clergyman. A promoter of the Sunday School, he penned 44 annual volumes of "Select Notes on the International Sunday School Lessons" between 1875 and his death in 1920. They were known afterward as "Peloubet's Notes."
    1840-William Henry Harrison was elected president, John Tyler of Virginia was elected vice-resident in a Whig landslide, defeating incumbent President Martin Van Buren, Democrat. In 1837 the panic began. Hundreds of banks and businesses failed. Thousands lost their lands. For about five years the United States was wracked by the worst depression thus far in its history. Programs applied decades later to alleviate economic crisis eluded both Van Buren and his opponents. Van Buren's remedy--continuing Jackson's deflationary policies--only deepened and prolonged the depression. Declaring that the panic was due to recklessness in business and over expansion of credit, Van Buren devoted himself to maintaining the solvency of the national Government. He opposed not only the creation of a new Bank of the United States but also the placing of Government funds in state banks. He fought for the establishment of an independent treasury system to handle Government transactions. As for Federal aid to internal improvements, he cut off expenditures so completely that the Government even sold the tools it had used on public works. The electoral vote was Harrison 234, Martin Van Buren, 60. The popular vote was Harrison, 1,275,017; Van Buren, 1,128,702; James G. Birney, Liberty Party, candidate, 7059. Unfortunately William Henry Harrison, 68, caught cold at his inauguration on March 4, and died of pneumonia on April 4, 1841. For the first time a vice president succeed to the presidency. Tyler who, although he had run on the Whig ticket, was not a Whig at heart. He had previously supported the Democrat, President Andrew Jackson in 1828 and 1832, and had major political disagreements with the northern, conservative wing of the Whig Party. His administration was characterized by bickering and frustration, as Henry Clay and Daniel Webster tried to control Tyler and shape the White Party to their own interests.
    1859-John Brown, Abolitionist leader who is remembered for his raid on US arsenal at Harper's Ferry was hanged for treason at Charles Town, WV. On October 16 he and 21 followers had seized the federal arsenal at Harpers Ferry (now in West Virginia) to establish an abolitionist republic in the Appalachians and to fight slavery with fugitive slaves and abolitionist whites. Groups had been raiding "free states "in retaliation for hiding slaves or helping them to escape to Haiti or Canada permanently. He had moved to Kansas to help organize resistance to these Southern raids.  It is interesting to note the men who appeared upon the scenes of these opening hostilities at Harpers Ferry, as they became famous or celebrated characters in the great drama of the civil war. Among those who became Confederate generals were: S. Cooper, R. E. Lee, J. E. B. Stuart, John B. Floyd and Henry A. Wise; and among colonels, C. J. Faulkner and A. R. Boteler. In the committee of the United States Senate, appointed by resolution of December 14, 1859, to inquire into the facts attending this invasion, were Hons. Jefferson Davis and J. M. Mason, and this committee had before it as witnesses, Hons. W. H. Seward, J. R. Giddings, Henry Wilson and Andrew Hunter. John A. Andrews, of Massachusetts, secured funds to pay Brown's counsel. In the South, John Brown was thought of as a murdered and traitor who deserved the gallows, but in the North his gibbet was described as "the cross of a martyr." In Concord, Mass., Henry David Thoreau wrote of Brown, " When a government puts forth its kill the liberators of the slave, what a merely brute...force it is seen to be." Longfellow wound a prophetic note: "This will be a great day in our history, the date of a new revolution...As I write, they are now leading old John Brown to execution...This is sowing the wind to reap the whirlwind, which will soon come."
    1864-Confederate General Archibald Gracie, Jr., is killed in the trenches at Petersburg, Virginia, when an artillery shell explodes near him. Gracie was born in New York in 1832. He was educated in Germany before he attended West Point, from which he graduated in 1854. Although his family lived in the North, his father owned a business in Mobile, Alabama, and Gracie moved there upon his resignation from the army in 1856. Gracie soon became an ardent supporter of the southern cause, and he was active in the Alabama state militia. In early 1861, before Alabama seceded from the Union, Gracie was ordered by the governor to seize the federal arsenal at Mount Vernon. Gracie's command protected Richmond in the summer of 1864, and his leadership at Drewry's Bluff was instrumental in holding Union General Benjamin Butler's force at bay near the Confederate capital. Gracie fought during the siege of Petersburg for the rest of the year, and he was recommended for promotion to major general. Unfortunately, he was killed before the rank was confirmed. Most of Gracie's family remained in the North, and his relatives arranged for transfer of his body to Union lines. He was buried in New York City.
    1867- English writer Charles Dickens gives his first public reading in the United States, in a New York City theater. Dickens was a hit with the American public, who anxiously awaited each installment of his serialized novels. The line for his first reading in New York was more than a mile long.
    1873- The Reformed Episcopal Church was organized in New York City when 8 clergymen and 20 laymen broke from the Protestant Episcopal Church over a debate regarding proper church ritual.
    1890-Birthday of pianist/band leader Fate Marable, Paducah,KY, died Jan. 16,1847, St,. Louis, MO.
    1891-Birthday of Dr. Charles Wesley, African-American educator/historian.
    1895-Birthday of organist Jesse Crawford, Woodland,CA

    1901-American King Camp Gillette designed the first razor with disposable blades. Up until this time men shaved with a straight edge razor that they sharpened on a leather strap.
    1905-Birthday of Mose Asch, founder of Folkways Records, Warsaw, Poland
    1906- Birthday of TV pioneer Peter Goldmark, born Budapest. As an engineer at Columbia Broadcasting Systems Laboratory, he devised a color television system and later the LP (long playing) record album, which transformed the recording industry. Goldmark's color television, first demonstrated in 1940 and approved for commercial use after World War II, used a rotating, three-color disk to project color images. Although all-electronic color television quickly replaced Goldmark's mechanical system, closed-circuit television manufacturers continued to use Goldmark's design. In 1948, Goldmark developed the LP, which could carry as much music as six 78-rpm records. Later, as vice president of CBS, Goldmark developed a system that allowed the U.S. Lunar Orbiter to transmit photographs from the Moon to the Earth.
    1908 -The Federal Council of Churches of Christ in America was founded in Philadelphia. (In 1950 this ecumenical organization was replaced by the National Council of Churches.)
    1914-Birthday of arranger/composer Eddie Sauter, born Brooklyn, NY, died April 21, 1981, New York City.

1916-Birthday of tenor saxophone player Charlie Ventura

    1917-Birthday of American singer Sylvia Syms, born at New York, NY. She was called the "world's greatest saloon singer" by Frank Sinatra and recorded 15 albums. She died May 10, 1922 at New York NY.
    1918 - Birthday of Milton DeLugg (bandleader: The Tonight Show Starring Johnny Carson; Milton DeLugg and His Orchestra: Abe Burrows' Almanac, The Chuck Barris Rah Rah Show, Dagmar's Canteen, Doodles Weaver, The Gong Show, Judge for Yourself, Your Hit Parade; musician: accordion: The Milton DeLugg Quartet: Broadway Open House; songwriter: Orange Colored Sky),%20Milton
    1923- Opera soprano Maria Callas was born in New York City. Her appearances in public had to be protected by guards. She was swarmed by fans and the press: the new sleek Callas was too photogenic with her strongly defined facial features and huge eyes. Her open affair with one of the world's richest men, Greek shipping giant Aristotle Onassis fanned the flames of the tabloids even higher keeping her personal life in headlines .... including the humiliating end of the affair as her former lover declined to marry her, then wooed and married Jacqueline Kennedy, the widow of U.S. president John Kennedy. Her last operatic performance was in 1965 in a career that had been marked by retirement for the high society life with Onassis before returning to the state, and quarrels with the managers of LaScala and the Metropolitan - and cancellations of performances. She died September 17,1977 at the age of 53, after becoming a recluse.
    1927 - The first Ford Model A was unveiled on this day in New York City's Waldorf Hotel and in 35 other cities around the U.S., Canada and Europe. The car was priced affordably: the Phaeton sold for $395.00 and the Tudor Sedan for $495.00. The lag between cars available and orders on hand had mounted to 800,000 by the spring of 1928. Ford made almost two million Model A cars in 1929 alone.

    1931-Birthday of pianist Wynton Kelly, Jamaica, BWI
These are the best:

    1932 - "The Adventures of Charlie Chan" was first heard on the NBC Blue radio network. The Chinese detective became even more popular on the movie screen in the 1930s and 1940s.
( I have them all: )
DVD: )
    1932- Bing Crosby and Bob Hope appear together for the first time onstage in a show at the Paramount Theater, where The Mask of Fu Manchu opens on this day in 1932. The duo would become two of Hollywood's best-paid actors thanks to their comic rapport
    1935-Birthday of pianist Ronnie Matthews, Brooklyn, NY
    1940-Billy Eckstine records " Jelly, Jell" with Earl Hines' Band.
    1942-The first nuclear chain reaction was engineered by scientists lead by Enrico Fermi at University of Chicago Stagg's Field.
    1943 - Birthday of William Wegman (photographer: photographs, videotapes, paintings and drawings exhibited in museums and galleries internationally; film and video works for Saturday Night Live, Sesame Street and Nickelodeon; works for children: Cinderella, Little Red Riding Hood and Mother Goose, Alphabet Soup; The Hardly Boys in Hardly Gold [screened at 1996 Sundance Film Festival])
    1947-Top Hits
Near You - The Francis Craig Orchestra (vocal: Bob Lamm)
You Do - Dinah Shore
And Mimi - Art Lund
I'll Hold You in My Heart (Till I Can Hold You in My Arms) - Eddy Arnold
    1950-- "The Thing" by Phil Harris topped the charts and stayed there for 5 weeks.
    1952 - Keeping his campaign promise, President-elect Dwight D. Eisenhower arrived in Korea to promote a settlement to end hostilities in that war-ravaged country.
    1952 - George Jorgensen, a former G.I. who had gone to Denmark in 1950, prepared to return to the U.S. this day -- as Christine Jorgensen. She, he, had undergone 2,000 hormone injections and six operations performed by sex change surgeons.
    1952- Commissioner Ford Frick plans to take action against Jackie Robinson. Two days earlier Robinson had called the Yankees a racist organization for its failure to promote a black to the parent club.
    1954-The U.S. Senate votes 65 to 22 to condemn Senator Joseph R. McCarthy for conduct unbecoming of a senator. The condemnation, which was equivalent to a censure, related to McCarthy's controversial investigation of suspected communists in the U.S. government, military, and civilian society. In the early months of 1954, McCarthy, who had already lost the support of much of his party because of his controversial tactics, finally overreached himself when he accused several U.S. Army officers of communist subversion. Republican President Dwight D. Eisenhower pushed for an investigation of McCarthy's charges, and the televised hearings exposed the senator as a reckless and excessive tyrant who never produced proper documentation for any of his claims. A climax of the hearings came on June 9, when Joseph N. Welch, special attorney for the army, responded to a McCarthy attack on a member of his law firm by facing the senator and tearfully declaring, "Until this moment, senator, I think I never really gauged your cruelty or your recklessness. Let us not assassinate this lad further, senator. You have done enough. Have you no sense of decency, sir? At long last, have you no sense of decency?" The crowded hearing room burst into spontaneous applause. On December 2, after a heated debate, the Senate voted to condemn McCarthy for conduct "contrary to senatorial traditions." By the time of his death from alcoholism in 1957, the influence of Senator Joseph McCarthy in Congress was negligible.
    1955-Top Hits
Sixteen Tons - Tennessee Ernie Ford
I Hear You Knocking - Gale Storm
Memories are Made of This - Dean Martin
Love, Love, Love - Webb Pierce
    1957-- "You Send Me" by Sam Cooke topped the charts and stayed there for 3 weeks.
    1963-Top Hits
I'm Leaving It Up to You - Dale & Grace
Dominique - The Singing Nun
Everybody - Tommy Roe
Love's Gonna Live Here - Buck Owens
    1967 - Singer Jimmie Rodgers ("Honeycomb", "Kisses Sweeter Than Wine") was found in a car in Los Angeles, near death, suffering from a fractured skull. He had been the victim of a "mysterious assault".
    1967- "Daydream Believer" by the Monkees topped the charts and stayed there for 4 weeks.
    1970- a rare December tornado touched down in the Timpanogos Divide in Utah. It tracked across a 38 inch snow cover, spewing snow 1000 feet into the air
    1971-Top Hits
Theme from Shaft - Isaac Hayes
Baby I'm-A Want You - Bread
Have You Seen Her - Chi-Lites
Daddy Frank (The Guitar Man) - Merle Haggard
    1972 - Motown's Temptations reached the #1 spot on the top 40 charts with "Papa Was a Rollin' Stone". It was the fourth #1 hit for the Temptations, joining "My Girl" (1965), "I Can't Get Next to You" (1969) and "Just My Imagination" (1971).
    1974 - a big snowstorm over the Ohio Valley and lower Great Lakes came to an end. Detroit, MI measured 19.5 inches, Toledo, OH 15.9 inches, Cleveland, OH 17.8 inches and Akron, OH 24.3 inches
    1977- Joan S. Wallace is sworn in as assistant secretary of the U.S. Department of Agriculture. She is the first black woman to hold the post. The first woman appointed was Dorothy H. Jacobsen in 1964.
    1978- "You Don't Bring Me Flowers" by Barbra Streisand & Neil Diamond topped the charts and stayed there for 2 weeks.
    1979-Top Hits
No More Tears (Enough is Enough) - Barbra Streisand/Donna Summer
Babe - Styx
Please Don't Go - K.C. & The Sunshine Band
Broken Hearted Me - Anne Murray .
    1980-Denali National Park and Preserve established1980-Gates of the arctic National Park and Preserve established, Alaska.
    1980-Glacier Bay National Park and Preserve established, Alaska.
    1980-Katami National Park and Preserve established, Alaska
    1980-Kenai Fjords National Park established, Alaska
    1980-Lake Clark National Park and Preserve established, Alaska
    1980-Wbuk Valley National Park established, Alaska
    1980-Wrangell-Saint Elias National Park and Preserve established, Alaska.
    1981 -Birthday of Britney Spears (dance-pop singer: albums: Baby. One More Time, Oops!. I Did It Again; TV performer: The Mickey Mouse Club, Time Out with Britney Spears, Britney in Hawaii) , Born Kentwood, LA
    1982-Barney C. Clark, 61, became the first recipient of a permanent artificial heart. The operation was performed at the University of Utah Medical Center at Salt Lake City. Near death at the time of the operations, Clark survived almost 112 days after the implantation. He died March 33,1983.
    1984 - Dan Marino connected for four touchdown passes and set an NFL record .for TD passes in a season (40). Miami's Dolphins lost the game, however, to the Los Angeles Rams, 45-34. It marked the Dolphins' first home loss of the season following six wins.
    1985 - The highest-rated "Monday Night Football" telecast was seen this night on ABC-TV. The game drew an audience share of 46.0 and a rating of 29.6. The Miami Dolphins beat the Chicago Bears, 38-25. The Miami win snapped the Bears' 12-game winning streak. The Miami Dolphins scored on their first five possessions. The Bears thus finished the regular season with a 15-1 record, and the Dolphins preserved their unique status as the only NFL to go undefeated in an entire season, a feat they accomplished in 1972.
    1985-Organized crime bosses Paul Castellano and Thomas Bilotti are gunned down as they exit Sparks Steak House in New York City, making John Gotti, the organizer of the hit, head of the notorious Gambino crime family-the most powerful Mafia operation in New York. 1968, Gotti was convicted of hijacking a truck and was sentenced to three years in prison. But his real Mafia ascension began when he killed one of the Gambino family's enemies in May 1973. Despite concerted efforts by New York law enforcement to crush the Gambino family operation, Gotti continued to climb up the ladder. Wearing flashy, expensive suits, Gotti became something of a local hero in his Howard Beach neighborhood for his connection to organized crime. His unparalleled success at escaping conviction at trial earned him the nickname "Teflon Don." He was even acquitted of racketeering charges in 1986, despite the fact that the prosecution presented thousands of taped conversations in which Gotti was acknowledged as the head of the crime family. Gotti's streak of luck with the law ended in 1992, when he was convicted of murder and racketeering and sentenced to life in prison without the possibility of parole.  He died June 10,2002 while serving a life sentence without the possibility of parole.  Since being incarcerated in December of 1990, he spent twenty-three hours a day alone in a small cell and was not allowed any contact with the rest of the prison population.  When doctors diagnosed Gotti with throat cancer in September of 1998, he was brought to the United States Medical Center for Federal Prisoners in Springfield, Missouri.  Following surgery and thirty-six radiation treatments, he was transferred back to solitary lockup in Marion, Illinois.
    1992-two F1 tornadoes touched down near Santa Rosa, CA and Mount Lemmon, AZ was drenched with 2.95 inches of rain in 24 hours
    1995 - R. Kelly's "R. Kelly" was the #1 album in the U.S for one week. The tracks: "Intro--The Sermon", "Hump Bounce", "Not Gonna Hold On", "You Remind Me of Something", "Step in My Room", "Baby, Baby, Baby, Baby", "Be Happy", "Down Low", "I Can't Sleep Baby", "Thank God It's Friday", "Love is on the Way", "Heaven If You Hear Me", "Religious Love", "Tempo Slow", "As I Look Into My Life" and "Trade in My Life".
    1995- "One Sweet Day" by Mariah Carey & Boyz II Men topped the charts and stayed there for 16 weeks.
    1997 - "Diana, Princess of Wales: Tribute" double album was released. The collection included songs from Sinead O'Connor, Rod Stewart, Eric Clapton, Mariah Carey, Queen, George Michael, U2, Paul McCartney, REM, Bruce Springsteen, Michael Jackson, Whitney Houston and many others.



American Football Poem

Taking the Snap

I take the snap from the center, fake to the right, fade back...
I've got protection. I've got a receiver open downfield...
What the hell is this? This isn't a football, it's a shoe, a man's
brown leather oxford. A cousin to a football maybe, the same
skin, but not the same, a thing made for the earth, not the air.
I realize that this is a world where anything is possible and I
understand, also, that one often has to make do with what one
has. I have eaten pancakes, for instance, with that clear corn
syrup on them because there was no maple syrup and they
weren't very good. Well, anyway, this is different. (My man
downfield is waving his arms.) One has certain responsibilities,
one has to make choices. This isn't right and I'm not going
to throw it.

Louis Jenkins