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Wednesday, December, 2007


Archives—December 5,2005—Broker/Lessor
    Classified ads----Controller
        Creative Capital Leasing Group messy BK
One World Leasing up-date
    Classified Ads---Help Wanted
        NACM more pessimistic than ELFA “flat” survey
Strategies: Predicting Equipment Lease Defaults
    Sales makes it Happen—by Adrian Miller
    “Do You Hear What I Hear?”
        Cartoon---Bill Gates
Are more Democrats Mac users than Republicans?
    Lead found in dog toys made in China
        AP Announces Major Overhaul in Multi-Media
Textron Financial Names Adele Suddes CMO
    Financial Federal Corporation Reports 9%
        Mitcham Industries Reports Strong 3rd Quarter
    NetSol Technologies' LeaseSoft Product Wins
Dell to Repurchase $10 Billion of Stock
    Morning commute forecast: Snow-going in Mid-West
        Mortgage execs paint bleak housing picture
            AT&T saying good-bye to its last pay phones
        News Ratings: NBC Nightly News Wins
    News Briefs---
You May have Missed---
Giant truffle auctioned for $330,000
    "Gimme that Wine"
        Calendar Events
Snapple Real Facts
    Today's Top Event in History
        This Day in American History
Football Poem
        Daily Puzzle
News on Line---Internet Newspapers
Santa Fe Times, New Mexico

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


Archives—December 5, 2005

Leasing News starts the first “Broker/Lessor” list:

Now in two sections:

Section “A”

Section “B”



Classified ads----Controller

Boca Raton, FL
CPA w/ Sarbanes Oxley/ 15 years management exp. as CFO/ Controller/5 yrs w/ PWC Extensive exp providing accounting/ tax guidance for the equipment lease industry. Willing to relocate.

Chicago, IL
experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating.

Southeastern, MI
Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate.

West Palm Beach, FL
CPA/CFO/Controller/Due Diligence Officer/SOX Lead seeking position.

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

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



Creative Capital Leasing Group messy BK

"We are able to fund tough deals, bad credits, BK's, past tax liens, start ups, used equipment, etc., because we look outside the transaction for real estate, and marketable securities to take as additional collateral. We are the national creative funding service.”

Perhaps the first equipment leasing company to file bankruptcy because of the subprime mortgage market problems is Creative Capital Leasing Group, LLC, San Diego, California. A hard line leasing company, well-known for taking both consumer and commercial real estate, the company filed for Chapter 11 Bankruptcy in the Southern California Bankruptcy Court on September 10, 2007.

They listed up to 99 creditors, which may exceed to $100 million, but most likely is perhaps $75 million, including PFF Bank and Trust. It is complicated as father and son are attorneys and the third son is not. It also appears part of the difficulty concerns management disagreements between the three, as well as the cash flow to their main lender PFF Bank and Trust. There are other issues. The bankruptcy postings make it appear as it is a running soap opera.

The first hearing by Ernest R. J. Waldburger, trustee, will be held on January 14, 2008 at 10:30am, Jacob Weinberger United States Courthouse, located at 325 West "F" Street, San Diego, California.

In a November 30, 2008, Robert Nichols, Vice-President and Credit Risk Officer for PFF Bank and Trust filed a declaration for Plaintiff PFF Bank & Trust an eight page support for motion for relief from automatic stay (real estate.)

According to the filling, what is involved is $36,341,176 in principal, not including all accrued interest, fees, costs, and expenses.

"14.As of the Petition Date, PFF is owed Prepetition arrears in the aggregate sum of $481,484.10. By December 1, 2007, PFF will be owed Prospection Arrears in the aggregate sum of approximately $722,226.15. The aggregate PFF Debt (which includes the Outstand Principal, Prepetition Arrears, Postposition Arrears, and all other accrued interest, fees, and costs) is currently estimated to exceed $37.5 million and will continue to grow due to the Debtor's failure to service the debt.

"The aggregate value of the SFR is $40,759,000 based upon individual appraisals obtained by PFF (collectively, the” Appraisals." Debtor's Schedule A reflects the aggregate value of the SFR as $42,008,600"

"18.In violation of the Lease Proceeds Agreement, Debtor (through one of its principals David Winick) made improper demand upon lessees and collected the aggregate sum of $85,557.96 from the time period of May 31, 2007 through October 17, 2007. To date, such funds have not been remitted to PFF as required by the Lease Proceeds Agreements."

"20. From the period of approximately September 18, 2006 up until the petition date, Winick caused debtor to transfer the aggregate amount of a least $1,587,140l.42 for his personal benefit. Debtor's Statement of Financial Affairs, at Section 23, confirms that Winick received sizeable transfers of Debtor's funds in the amount of $1,302,151.47. PFF has requested a detailed explanation regarding these transfers but none has been provided to date other than a m Creative Capital Leasing Group, LLC is licensed by the State of California as a California Finance Lender since December 30, 1998. They have two Better Business Bureau reports, seeming to have a production and a main business office. Both reports are unrated by BBB, but not three complaints, all resolved.

Alister McAllister of Podium Financial, Costa Mesa, California represented Creative Capital Leasing Group directly and at conferences until April 11, 2007, when they issued a public announcement that they were severing their relationship.
At the time, Leasing News also deleted Creative Capital Leasing Group from its funding list and story credit list.

Part of it concerned a report we received from an insider, that we could not mention as the National Association of Equipment Leasing Brokers (NAELB) does not report expelled members or members who have had several complaints. It was handled internally, and Creative Capital Leasing Group was not a member in 2007. The listing showed 12 employees with geography: USA Dollar Amount considered: $40,000 - $1, 000,000.

As a side note, in 2006 Leasing News was working on a complaint and principal Dave Winick said it was brought to the NAELB Ethics Committee. He was reportedly threatened with expulsion if the money was not returned. He asked my opinion, and I told him to pay the $8,500 as being kicked out would cost him a lot more. It was my impression he had had several complaints, as he also had with Leasing News. All complaints received here as well as reported by BBB were resolved. He did not rejoin NAELB in 2007, although Podium represented his company at NAELB Conferences. Due to the bankruptcy filing, Leasing News is revealing this information.

As per the Better Business Bureau reports, Winick usually resolved disputes and complaints.

A telephone call was made to principal David Winick at Creative Capital Leasing Group.
There was no response.

Podium Announcement:

BK Petition Filing:

Listed as other top debtors in the Chapter 11 Bankruptcy filing are:

Einstein, Ahuva
Unliquidated $929,000.00

MB Bank
Unliquidated $440,156.00

First Bank of Illinois
Unliquidated $331,891.00

Bellamy, Andrea
Unliquidated $251,739.00

Waldburger, Earnest R.
Unliquidated $250,000.00

Booth, Goldynne
Unliquidated $208,690.00

Balsingame, James
242 Juniper Bend Drive
Unliquidated $180,000.00

Benderly, Yona
Unliquidated $144,072.56

Glazer, Myra
Unliquidated $135,477.00

Pepper, Foster
Unliquidated $118,947.84

Soloman Grindle
Unliquidated $108,736.86

Cohen, Areiah
Unliquidated $100,016.29

Kay, Donald
Unliquidated $90,000.00

Unliquidated 89,343.47

Unliquidated $86,269.62

Glazer, David
Unliquidated $80,688.00

Unliquidated $69,091.96

Feinerman, Myrna
Unliquidated $65,000.00

Sarna, Carol
Unliquidated $50,207.00



One World Leasing up-date

Here is the latest about the leasing industry only “co-op,” where lessors have joined together to pool their interests, plus obtain the best prices and services:

“The Year of 2007 has been a good one for One World Leasing and its members. It is estimated that our members will lease and finance over $250 Million in equipment for the year representing modest but profitable increases by most members.

OneWorld Leasing Inc. is proud to announce that OFC Capital Corporation has become its twentieth Preferred Funder. OWL's members look forward to using the many varied leasing and financing programs that OFC is offering.

December marks the end of our 2007 new member drive which has proven very successful and will culminate with our members annual meeting to be held in St. Croix, US Virgin Islands in early February.

My best wishes to you and your readers and the whole Leasing Industry for Happy Holidays and a good New Year.

Ira Z. Romoff
OneWorld Leasing, Inc.
2 Westwind Ct.
Saddle River, NJ 07458
201 995-9594
201 776 7040 cell
201 669-4049 fax



Leasing Industry Help Wanted


Wrentham, Mass.

Growing Leasing Collection Division for 25+ year estab. business. Must have exceptional, creative negotiation skills,  ability to thrive in high volume, fast paced environment. Click here for more info:



NACM more pessimistic than ELFA “flat” survey

Echoing the Equipment Leasing and Finance Association MLFI-25 October survey, the National Association of Credit Managers November survey is basically flat, but more pessimistic. Credit managers from 22,000 business and consumer companies fear a recession is around the corner.

The index fell for the third consecutive month in a row, losing 0.7 as both service and manufacturing sector indexes fell.

“This is the first time that there has ever been more than four components indicating contraction since the inception of the CMI in 2002, and it could well be a harbinger of things to come,” said Daniel North, chief economist with credit insurer Euler Hermes ACI.

Although the drop was relatively small, all six unfavorable factors components fell, leaving five below the 50 level, indicating economic contraction.

North listed current conditions: gasoline prices are high, housing prices are low, the dollar is crumbling, consumer confidence is plummeting, holiday sales have been mixed at best, credit is drying up, bankruptcies and foreclosures are on the rise, the employment situation is decaying and conditions in the housing industry are getting worse.

“It is a potent combination which could lead the economy into a recession in the first half of next year, yet both the economy and the CMI have remained resilient so far,” he said. “However, cracks are starting to show and the Fed will almost certainly cut the Fed Funds rate again at its December 11th meeting in an effort to forestall a recession. In all likelihood, the Fed will have to continue to cut the Fed Funds rate well into 2008, perhaps as low as 3.5%. Credit managers are facing tougher times ahead.”

The manufacturing sector fell 0.3% in November to a seasonally adjusted 52.7. Five of the 10 components fell, with bankruptcies plummeting 7.9%, the second largest drop on record.

“As has been the case for months now, comments from the survey participants were mostly about the terrible conditions in the housing market, but this month there are some unhappy comments from other industries as well indicating more widespread weakness,” said North.

Of note, a manufacturer of nuts, bolts, screws, etc. responded that manufacturing is cutting back to a four-day week. A petroleum refiner said, “We are seeing stress across industries due to rising energy and raw material costs.” And a manufacturer of cookies and crackers commented how the housing crisis is now directly affecting even the food industry: “We're affected by the trauma of home builders, mortgage banks and title companies.” North commented that the bright spot of the report was that the sales component erased all of last month’s 5.2% fall.

The service sector index fell 1.1% on a seasonally adjusted basis in November. The decline was widespread as six of the 10 components fell.

“Like in the manufacturing sector, bankruptcies led the way down, falling 5.9%,” North said. “Also like the manufacturing sector, most comments were negative ones about the housing industry, but downbeat comments from other industries are now ringing in.” North summarized the responses, saying, “One participant from the photocopying industry replied, ‘Even our best customers are paying beyond 100 days past due.’

Another from the plastics industry, referring to the impact of higher oil prices, said, ‘We have had several customers close their doors as a result.’ Finally, another from the tire industry described the state of the economy perfectly: ‘There appears to be no question that the economy is turning negative. With the housing industry in a slump and the price of gas over $3.00 a gallon, individuals simply do not have the money they once had to make retail purchases.’”

The Credit Manager’s Index over the past 12 months has fallen 2.2%. North said, “Although there were no dramatic year-over-year movements in any of the components, the decline was widespread as all 10 components fell. Manufacturing fell 2.4% and service fell 1.9%. In both indexes, eight of the 10 components fell, supporting the notion of a pervasive but slow decline.”

The CMI, a monthly survey of the business economy from the standpoint of commercial credit and collections, was launched in January 2003 to provide financial analysts with another strong economic indicator.

The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies. A complete index including results from the manufacturing and service sectors, along with the methodology, is attached or can be viewed online at .

The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 22,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy.



New Study from the Foundation: Strategies for Predicting Equipment Lease Defaults

The business performance of lenders/lessors depends heavily on their ability to avoid bad credit risks. - the ability to forecast which transactions will end up in default allows you to avoid those transactions, resulting in a competitive advantage over companies less able to predict defaults. This new study offers an improved method of forecasting defaults using a linear discriminant model that has yielded classification accuracies as much as ten percent better than the competing logistic regression and neural network models.

One bad credit decision can negate the profits earned from many good ones. Order this study today to find out how to minimize defaults and keep you hard-earned profits.

Available now from the Foundation online Store for $200.00:



Sales Make it Happen --- by Adrian Miller

“Do You Hear What I Hear?”

Not to be…snide or anything, but among many pleasant things this time of year, it's also the season for holiday shopping mall music. And if you've spent even a fraction of your life in a mall since the beginning of November, there's a very good chance you've heard the refrain “do you hear what I hear….”. It's from The Little Drummer Boy.

Good song. Catchy. Who doesn't want to drum every now and then?

But: this post isn't about the song. It is about that particular set of words: do you hear what I hear?

For many consultants, the answer is: uhhh…can you repeat the question?

“Hearing” is becoming a lost art. Very often, I see accomplished professionals fail to HEAR what the other person is saying. They don't merely “misunderstand” — they just don't hear.

Why not?

Because they're so wrapped-up in what THEY want/need to say, that they're not engaging the other person at all. They're merely waiting…waiting…waiting…for their chance to speak. They aren't hearing at all — they're distracted, and waiting, and circling for a chance to “take back the microphone.”

The underlying mechanism here, of course, is fear: some people believe that if they don't get “all of their points out” they won't succeed in doing what they wanted to do (e.g. sell something). Or, they're afraid they don't aggressively push through their points, that they'll be perceived as ignorant or uninterested.

These are possible, yes. But they're very, very unlikely. Think of all of the truly intelligent people that you know — I don't just mean smart or clever, but really wise. Notice how they speak in a relaxed manner; they aren't “afraid” — they just speak. And when you're talking, they hear. They don't bite their tongue waiting for the next opportunity to dominate the conversation. They simply hear. And then they respond to what they hear. They respond to you. And you feel good. And so do they.

See? Simple. Try it — see how much value there is in HEARING. It's more than you might expect.

parum pum pum pummmmmmmmmmmmmmmmmm


Adrian Miller Sales Training
516-445-1135 (cell)

His book “ The Blatant Truth: 50 Ways to Sales Success " is available at

His latest article at The New York Enterprise Report:
"What if we train them and they leave? What if we don't train them and they stay?"

Previous Leasing News "Sales makes it Happen:"






Are more Democrats Mac users than Republicans?

Aliso Viejo, CA based Net Applications announces November 2007 Operating System Usage Market Share. With a new, greatly enhanced marketshare site, Net Applications is now able to analyze global marketshare trends with much greater depth.

We not only have more trends we are tracking, summarize versions better, but we are now able to view market share by continent, country and even by state/province. The Mac OS usage map for the US provided an immediate visual impact. Higher percentage Mac usage states almost perfectly match up with states that typically vote for Democrats. So, do Democrats prefer Macs? The correlation is striking. As the US Presidential primaries heat up, we are left to ask:

Are the speech writers for Hillary Clinton and Barack Obama typing on Macs right now?
When Mitt Romney and Rudy Giuliani get online, are they using PCs? Have they upgraded to Vista?
Have they then downgraded back to XP?
If John McCain uses a Mac, does that signify that he's more of a centrist?
If anyone knows for certain, please contact us so we can see if the correlation holds at the top levels of the respective parties.

Region/State Market Share Margin of Error  
 California   12.83%   ±0.0%   
 Texas   6.76%   ±0.0%   
 New York   12.33%   ±0.0%   
 Florida   6.52%   ±0.0%   
 Virginia   9.66%   ±0.0%   
 Illinois   8.19%   ±0.0%   
 New Jersey   7.79%   ±0.0%   
 Pennsylvania   7.33%   ±0.0%   
 Georgia   5.95%   ±0.0%   
 Ohio   6.12%   ±0.0%   
 Michigan   7.09%   ±0.0%   
 North Carolina   5.74%   ±0.0%   
 Massachusetts   11.19%   ±0.0%   
 Washington   10.30%   ±0.0%   
 Colorado   10.09%   ±0.0%   
 Arizona   7.92%   ±0.0%   
 Missouri   6.37%   ±0.0%   
 Maryland   7.77%   ±0.0%   
 Minnesota   8.92%   ±0.0%   
 Indiana   5.98%   ±0.0%   
 Wisconsin   7.69%   ±0.0%   
 Tennessee   6.63%   ±0.0%   
 Connecticut   10.06%   ±0.0%   
 Oregon   12.72%   ±0.0%   
 South Carolina   4.61%   ±0.0%   
 Kentucky   5.46%   ±0.0%   
 Alabama   4.52%   ±0.0%   
 Louisiana   4.85%   ±0.0%   
 Oklahoma   5.12%   ±0.0%   
 Kansas   6.60%   ±0.0%   
 Iowa   7.01%   ±0.0%   
 Nevada   7.92%   ±0.0%   
 Utah   9.72%   ±0.0%   
 District of Columbia   8.23%   ±0.0%   
 Arkansas   4.70%   ±0.0%   
 Nebraska   7.65%   ±0.0%   
 Mississippi   3.70%   ±0.0%   
 New Hampshire   9.14%   ±0.0%   
 Hawaii   15.89%   ±0.0%   
 New Mexico   9.94%   ±0.0%   
 Rhode Island   9.99%   ±0.0%   
 Idaho   7.48%   ±0.0%   
 Maine   11.19%   ±0.0%   
 West Virginia   3.47%   ±0.0%   
 Alaska   11.87%   ±0.0%   
 Montana   8.52%   ±0.0%   
 Delaware   7.28%   ±0.0%   
 South Dakota   5.37%   ±0.0%   
 Wyoming   8.03%   ±0.0%   
 North Dakota   5.38%   ±0.0%   
 Vermont   15.14%   ±0.0%   
 Armed Forces Europe   0.44%   ±0.9%   
 Armed Forces Pacific   0.48%   ±1.1%


Meanwhile, in the battle between PC and Mac, the Mac continues to gain ground. November 2007 usage statistics show that globally, 6.8% of all computers online are Macs. That is the highest percentage we've seen to date. And, with Apple's new Leopard OS, the future looks even brighter for the Mac. Now, does that mean we'll have a Democrat in the President's office again soon? Time will tell.

You may respond to:

Vince Vizzaccaro
EVP Marketing and Strategic Alliances
Net Applications
Phone: 248-650-5270
Partner Programs:



Lead found in dog toys made in China

Shari L. Lipski, CLP
ECS Financial Services, Inc.
Lease Portfolio Managers and CPA's
847-897-1701 (Fax)



Associated Press Announces Major Overhaul in Processes, with Focus on Multimedia

After a decade of watching newspapers and rival wire services shrink, The Associated Press, the 161-year-old news cooperative, is refitting itself to handle the 24-hour news cycle it helped create. "You have to adjust to the marketplace," said Jim Kennedy, The AP's vice president for strategic planning. "The new generation of consumers has completely different habits," he told the NY Times.

To feed those habits and manage the news cycle more efficiently, the AP will change the way it files, edits and distributes stories, opening at least four regional editing hubs as part of a plan it calls AP 2.0. It is also expanding its multimedia packages for entertainment, business and sports reports. And the company is moving toward an all-digital platform it calls the "Digital Cooperative," reports Times writer Cate Doty.

The changes, the AP believes, will counter what hampered some of its rivals, like Dow Jones Newswires and Reuters, which, over the last decade, have cut their staffs as revenues have fallen. Kathleen Carroll, the AP's executive editor, told the Times that the company's responsibility was to "preserve our future, so that we can continue to provide news from remote places," and to "rev up our journalism" to make it compelling to customers.

The idea behind the regional hubs, which mimic an overhaul of the AP's foreign operations earlier in the decade, is to reduce editing gridlock at its major filing desks, including that in New York. The regional hubs will handle coverage in their areas, and the New York desk will focus on "the stories that are the tip top of the day," Carroll said.

Kennedy said another goal was to get editors in the regional bureaus back into reporting, which would increase the amount of content, and to reduce the number of people who work on an article during a news cycle.

Some employees, however, are wondering what these changes, particularly the new regional editing hubs, will mean for them. "People are definitely jittery," said Tony Winton, an AP broadcast correspondent based in Miami and the president of the News Media Guild, which represents AP workers. "It's really hard to react to everything because the details have been so thin," he told the Times.

The company has assured the guild that no layoffs are planned, and Carroll said the AP was still evaluating staff needs in each bureau, although some employees might have to move. "I think anybody who's in an editing job now is probably looking at some kind of change to their work," Carroll said.

But Winton wondered what would happen to an editor whose regular position was moved to one of the regional hubs. "I think most of our members understand the AP has to stay competitive. We get that," he said. "But this sort of cone of silence we're under isn't helping."

Carroll acknowledged the uncertainty. "I think what's frustrating for some people is that the answers to some of their questions just aren't known yet," she told the Times. "And journalists are skeptics."


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

Textron Financial Names Adele Suddes Chief Marketing Officer

Providence, RI – ― Textron Financial Corporation, a subsidiary of Textron Inc. (NYSE: TXT), announced that Adele Suddes has been promoted to Executive Vice President and Chief Marketing Officer. She will continue to lead the company’s marketing function while also assuming responsibility for its Customer Care Center. Suddes reports to Textron Financial President Jay Carter and serves as a member of the company’s Executive Committee.

Adele Suddes, not a movie story, for real

“Adele has improved Textron Financial’s overall marketing capability with her relentless focus on driving customer acquisition and retention,” said Carter. “Under her leadership, the marketing function has developed and implemented world-class processes and tools, bringing value to both our customers and our employees.”

Suddes joined Textron Financial in 2000 and has held positions of increasing responsibility focused on providing strategic and tactical marketing support to all of the company’s business divisions. Under her direction, the marketing function has completed the most comprehensive, statistically significant customer satisfaction study in the company’s history. This program was recognized earlier in 2007 with Textron’s first-ever Customer Satisfaction & Loyalty Impact Award. In addition, Textron Financial has shown year-over-year improvement in marketing effectiveness across 20 different functional attributes as benchmarked by the Marketing Leadership Council, a nationally recognized center of excellence for marketing research.

Suddes holds a bachelor’s degree in Economics from the University of Connecticut and an MBA from Bryant University. She is a certified Textron Six Sigma Green Belt and has completed Textron’s Executive Leadership Program at the Thunderbird School of Global Management.

About Textron Financial

Textron Financial is a diversified commercial finance company with $10 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at

About Textron

Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation.


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

Financial Federal Corporation Reports 9% Increase in First Quarter EPS

-- Diluted EPS - $0.50 (9% increase)

-- Net Income - $12.7 million (3% increase)

-- Loss Ratio - 0.07% (annualized)

NEW YORK--(BUSINESS WIRE)--Financial Federal Corporation (NYSE: FIF - News) today announced results for its first quarter ended October 31, 2007. Net income for the quarter increased 3% to $12.7 million from $12.2 million in the first quarter of fiscal 2007. Diluted earnings per share increased by 9% to $0.50 from $0.46. Finance receivables originated during the quarter were $259 million compared to $320 million in the first quarter of fiscal 2007. Finance receivables outstanding remained at $2.13 billion at October 31, 2007 from July 31, 2007.

Paul R. Sinsheimer, CEO, commented: "Our near term outlook is cautious as the economy appears to be slowing and the capital markets continue to be volatile. Notwithstanding these conditions, the Company's first quarter was outstanding with 9% earnings per share growth and strong asset quality. Our proven business model has produced consistent superior results in various economic environments and I expect this to continue."

Steven F. Groth, CFO, remarked: "We used our committed unsecured bank credit facilities during the quarter in response to the crisis in the credit markets and to reduce our interest costs by repaying commercial paper and asset securitization borrowings. We also repurchased 423,000 shares for $12.0 million during the quarter. In addition to a low debt to equity ratio of 4.3:1, we have over $180 million of unused credit facilities."

Asset Quality

Asset quality measures continued at favorable levels in the first quarter of fiscal 2008:

Net charge-offs were $372,000 or 0.07% of average finance receivables (annualized) compared to net charge-offs of $123,000 or 0.02% in the fourth quarter of fiscal 2007, and net charge-offs of $53,000 or 0.01% in the first quarter of fiscal 2007.
Non-performing assets were 1.32% of finance receivables at October 31, 2007 compared to 0.99% at July 31, 2007 and 0.74% at October 31, 2006.
Delinquent receivables (60 days or more past due) were 0.73% of total receivables at October 31, 2007 compared to 0.46% at July 31, 2007 and 0.34% at October 31, 2006.

Other Financial Highlights

Net interest margin increased to 5.15% in the first quarter from 5.11% in the first quarter of fiscal 2007 because the net yield on finance receivables increased to 9.28% from 9.21% and our cost of debt decreased to 5.33% from 5.37%.
The provision for credit losses was $0.4 million in the first quarter compared to no provision recorded in the first quarter of fiscal 2007 because we increased the allowance for credit losses.
Salaries and other expenses increased to $6.5 million in the first quarter from $6.1 million in the first quarter of fiscal 2007 mostly because of salary increases. The efficiency ratios were 23.7% and 23.5% and the expense ratios were 1.22% and 1.20%.
Return on equity in the first quarter improved to 13.0% from 12.2% in the first quarter of fiscal 2007 because we repurchased $66.5 million of our common stock over the last three fiscal quarters.

Conference Call

The Company will host a conference call December 5, 2007 at 11:00 a.m. (ET) to discuss its first quarter results. The call can be listened to on the Company's website (click on Investor Relations).

About Financial Federal

Financial Federal Corporation is an independent financial services company specializing in financing construction, road transportation and refuse equipment through installment sales and leasing programs for dealers, manufacturers and end users nationwide. Please visit for more information.

full press release with financial statements at:


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

l 2007 Third Quarter Results

HUNTSVILLE, Texas,Mitcham Industries, Inc. (Nasdaq: MIND | charts | news | PowerRating) (the "Company") announced financial results for its fiscal 2008 third quarter ended October 31, 2007.

The Company reported total revenues of $17.2 million compared to $12.7 million in the third quarter of fiscal 2007. Income before income taxes increased to $4.0 million from $2.5 million during the fiscal third quarter of 2007. Net income for the third quarter of fiscal 2008 was $2.4 million, or $0.24 per diluted share, compared to net income of $3.9 million, or $0.38 per diluted share, for the third quarter of fiscal 2007. Net income during the fiscal third quarter of 2007 included the realization of deferred tax assets which resulted in a $1.3 million benefit to income taxes. This compares to income tax expense of $1.6 million during the fiscal third quarter of 2008.

Bill Mitcham, the Company's President and CEO, stated, "We had an outstanding third quarter with sustained strong demand in our core equipment leasing business. As an indication of customer demand, several of our leasing contracts that had reached their terms during the quarter were extended for additional periods. The equipment we added to our lease pool, principally during the first quarter of this fiscal year and in the fourth quarter of last fiscal year, contributed significantly to our third quarter results. Our Seamap segment also saw outstanding revenue growth and margin improvement as our manufactured products continue to gain traction in the marine seismic market.

"Due to the continued growth in demand for our leased equipment, we recently added approximately 5,750 Sercel land channels and additional Sercel Seal marine streamer sections to our lease pool. We also expect to take delivery of another 6,500 land channels before year end. This will bring our total additions to the lease pool during fiscal 2008 to approximately $20 million. We expect these investments in new lease pool equipment to contribute substantially to our future results, beginning in the first quarter of fiscal 2009."


Total revenues for the third quarter rose 35 percent to $17.2 million from the same period a year ago. Revenues from the Company's core equipment leasing business, excluding equipment sales, increased 36 percent to $8.4 million from $6.2 million in the same period last year due to continued rising demand for seismic equipment, growth in new geographic markets and continued expansion of the Company's lease pool including equipment for marine applications. The large amount of equipment added to the Company's lease pool during the fourth quarter of fiscal 2007 and in the first quarter of fiscal 2008 contributed significantly to growth in leasing revenues in the third quarter.

Seamap equipment sales for the third quarter rose almost 100% to $5.1 million from $2.6 million in the comparable period a year ago primarily driven by strong demand for the GunLink, BuoyLink and weight collar product lines, as well as ancillary equipment.

Sales of new seismic equipment and hydrographic and oceanographic equipment for the third quarter were $2.0 million compared to $3.1 million in the third quarter of fiscal 2007. Sales of lease pool equipment were $1.7 million compared to $0.8 million in the same period a year ago.

Gross profit in the third quarter was $9.3 million, or 54 percent of revenues, compared to $5.9 million, or 46 percent of revenues, in the third quarter a year ago as a result of the increase in leasing revenues and improved Seamap margins.

General and administrative (G&A) expenses for the third quarter were $5.0 million compared to $3.3 million in the same period a year ago. As a percentage of revenues, G&A expenses rose to 29 percent in the third quarter of fiscal 2008 from 26 percent in the third quarter of fiscal 2007.

EBITDA (earnings before interest, taxes, depreciation and amortization) for the third quarter increased 50 percent to $6.8 million, or 39 percent of revenues, compared to $4.5 million, or 36 percent of revenues, in the same period a year ago. EBITDA, which is not a measure determined in accordance with generally accepted accounting principles ("GAAP"), is defined and reconciled to reported net income in Note A under the accompanying financial tables.


For the first nine months of fiscal 2008, the Company's net income was $8.1 million, or $0.79 per diluted share, compared to $8.6 million, or $0.84 per diluted share, in the same period in fiscal 2007.

Total revenues for the first nine months of fiscal 2008 increased 47 percent to $55.6 million compared to $37.8 million in the same period last year. Income before income taxes for the first nine months increased 69 percent to $12.5 million, or 22 percent of revenues, from $7.4 million, or 19 percent of revenues, in the first nine months of fiscal 2007. The Company incurred income tax expense of $4.4 million in the first nine months of fiscal 2008 compared to an income tax benefit of $1.2 million in the comparable period a year ago due to the realization of deferred tax assets. Year-to-date EBITDA increased 57 percent to $20.7 million in fiscal 2008, or 37 percent of revenues, compared to $13.2 million, or 35 percent of revenues, during the same period in fiscal 2007.


Robert Capps, Executive Vice President and Chief Financial Officer, commented, "Given our strong third quarter results and our expectations for the fourth quarter, we are raising our revenue guidance range for fiscal 2008 to $65 to $70 million from $60 to $65 million; our operating income range to $15.0 to $16.0 million from $13.5 to $14.5 million; and maintaining an effective tax rate estimate of approximately 34 percent.

Mitcham Industries, Inc., a geophysical equipment supplier, offers for lease or sale, new and "experienced" seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. Headquartered in Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; and the United Kingdom and with associates throughout Europe, South America and Asia, Mitcham conducts operations on a global scale and is the largest independent exploration equipment lessor in the industry.


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

Best Financial Industry Application for 2007 by APICTA

LeaseSoft the De Facto Standard in Lease and Asset-Based Finance Software in Asia Pacific Region

CALABASAS, CA-- -- NetSol Technologies Inc. ("NetSol") (NasdaqCM:NTWK - News), a multinational provider of IT services and enterprise software to the financial services industry, announced that the LeaseSoft product suite for asset finance, lease accounting and portfolio management system has won the Best Financial Industry Application Award for 2007. NetSol was recently honored with the award at the Asia Pacific ICT Alliance (APICTA) Awards in Singapore.

APICTA is one of the largest Information and Communications Technology (ICT) associations in the Asia Pacific region with 20 member countries including Australia, China, Hong Kong, India, Korea, Malaysia, Pakistan, Singapore, among others. From a pool of 15 nominees, LeaseSoft was declared the winner by an international panel of judges. In naming the winner APICTA judges examined a wide range of factors including uniqueness of the offering, market potential, state of the art functionalities and features, quality and application technology as well as a presentation of the offering from the respective developers.

Mr. Salim Ghauri, President Netsol Technologies Inc. Asia Pacific, commented, "We are pleased that our hard work developing LeaseSoft has been recognized by such a distinguished panel of international industry experts. APICTA's 'Best Financial Industry Application Award' reaffirms that NetSol's LeaseSoft is the product of choice for the Leasing and Finance industry across the Asia-Pacific region."

LeaseSoft is an end-to-end automated solution for the asset-based leasing and finance industry that is flexible, efficient, productive, powerful, and accurate. LeaseSoft is the de facto standard in the Asia Pacific region for Asset Finance, Consumer Finance, Loan Finance and Motor Finance.

LeaseSoft is designed to be fully configurable to meet the needs of disparate regions and industries, and support multi-asset and multi-lingual environments. The LeaseSoft application provides a fully automated asset-based finance solution covering the full leasing/finance lifecycle.

About NetSol Technologies Inc.

NetSol Technologies (NasdaqCM:NTWK - News) is a multinational provider of IT services and enterprise solutions to the financial services industry. By utilizing its worldwide IT design, development, quality assurance (QA), and project management resources, NetSol delivers high-quality, cost-effective portfolio management solutions for equipment and vehicle finance, as well as IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both the ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 50 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and/or offices in London, San Francisco, Adelaide, Beijing, Bangkok and Lahore, Pakistan.

To learn more about NetSol Technologies Inc., visit or


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

News Briefs----

Dell to Repurchase $10 Billion of Stock

Morning commute forecast: Snow-going in Mid-West,0,5532950.

Mortgage execs paint bleak housing picture

AT&T saying good-bye to its last pay phones,0,4069235.story

News Ratings: NBC Nightly News Wins Close November Sweeps
(Couric down a million in a year)



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Calendar Events This Day

Extraordinary Work Team Recognition Day
To recognize business teams that work extraordinarily well together, producing significant results/accomplishments for their company or organization Team leaders and management “champions” are encouraged to recognize exceptional team performance and submit their stories for a change with an extraordinary prize for their team.

National Dice Day
A day for everyone to enjoy playing the game of dice. The total of the game is to get 10,000 points. Each player rolls five dice. If you roll a 5, it counts for 500 points. If you roll a 1, it counts for 100 points. I If you roll neither, you lose your turn. If you role 3-of-a-kind, it will count for the number x 100. If you roll 4-of-akind, double the number. 5-of-akind, double the number. If you roll a straight 12345 or 23456, you ear 1,500 points. Once someone reaches 10,000 points, they have to make every die count, once they do that everyone else has a chance to beat their score.

Saint Barbara’s Day
On this day, traditionally the feast day of St. Barbara, a young girl places a twig from a cherry tree in a glass of water. If it blooms by Christmas Eve, she is certain to marry the following year. Because the narratives of her life and martyrdom are legendary, St. Barbara was dropped from the Roman Catholic Calendar of Saints in 1970.
(The City of Santa Barbara got its name from the early Spanish navigator Juan Cabrillo. On December fourth, the great explorer stopped at a particularly lovely place on the California coast. He chose to name the spot after the patron of that day, Saint Barbara. The island and channel of the same name also got their designations on this occasion. It is fitting that a body of ocean bears her name, as Saint Barbara is also the patron saint of mariners.)

Santa's List Day

Wear Brown Shoes Day

Saint feast Days



White-Out was invented by the mother of Mike Nesmith, formerly of the Monkees.



Today's Top Event in History

1933-Prohibition ended with the repeal of the Eighteenth Amendment, as the Twenty-First Amendment was ratified. Actually during this period, hospital and other records of alcoholism went down. There were considerably less accidents and deaths caused by drunk driving, and crime was more related to “lack of money” and the depression, than drinking. The law did not allow the transportation or making of alcoholic drinks, but private clubs and many restaurants had a long supply (and were able to purchase without the federal or sales tax, actually at a lower cost when the government was
regulating it. ) The grape industry suffered; however, individuals were allowed to make up to 300 gallons a year, plus beer, which created many home wine and beer makers ( which you legally can do today.).


This Day in American History

    1492- Christopher Columbus discovered Haiti at the end of his first voyage (he never discovered the mainland, which was discovered earlier by several others including the Vikings, Chinese, and Africans (who also were the first to discover South America from a foreign land). Here Columbus made slaves of all the natives, shipping as many as he could to Europe in his following four voyages. Fifty years later the natives were wiped out by the thousands when Spanish armies came to Haiti in search of gold.  The Spanish were succeeded by the French, who brought slaves from Africa to work the plantations. In one of history most glorious struggles for independence, Haiti became the first black Republic in the world when it became a free country in 1804. American slaves would escape here, and to “free” states, which eventually brought on the Civil War as more “free” states were joining the union, such as Oregon, and territories were being formed in the North West.

    1496 -Jews are expelled from Portugal by order of King Manuel I. The new world would be a land of free religion for all, but how to get there, via South America.
    1776-Phi Beta Kappa founded Williams and Mary’s College, Virginia.
    1782- Martin Van Buren's birthday, eighth president of the United States (1837-1841). The first president to have been born a citizen. His term saw many troubles from bank and business failures, depression and unemployment. In 1837, Van Buren succeeded Jackson in the White House. Three months later, the Panic of 1837 sent the national economy into a tailspin. Van Buren's inability to alleviate the depression, along with his opposition to the annexation of Texas on grounds it would lead to expansion of slavery, led to his drubbing by Whig candidate William Henry Harrison in 1840. He retired to Lindenwald, his Kinderhook estate, where he died in 1862.
(lower half of: )
    1784-Birthday of Rhillis Wheatley - the first Black Afro-American poet. Her first collection of poetry was published in 1773. Two other books were published posthumously. Brought to Boston as a slave in 1761, RW was raised almost like a daughter by Mrs. John Wheatley and quickly learned English - then learned Greek and Latin. She was an object of great wonder in Boston and England because of her intelligence at a time when Blacks were considered “unteachable.” After the Wheatleys died, she was freed and married a black man who deserted her.
    1787-Shay’s Rebellion: Daniel Shays of Pelham, MA, organized a group of farmers whose land had been seized and their neighbor and friends into an armed force that overthrew courts and committed other acts of violence. They were protesting the depreciation of paper money, the insistence of creditors on being paid in silver money, the imprisonment of debtors, and the seizure of farmland to pay off
debts. Following the Revolutionary War, the United States faced severe economic hardships. One reason, in addition to war debt, was that the new nation was cut off from the commercial ties of the British Empire. Especially hard hit was Massachusetts because England cut off trade between the United States and the British West Indies. This severely harmed several businesses of that state such as shipbuilding, distilling, and lumber, which depended on the West Indies trade. Because of the economic hard times in Massachusetts, many farms heavily in debt were seized by their creditors and often sold for a fraction of their value. The farmers and working men of Massachusetts who were unable to pay their debts were sent to debtor prisons and would not be released until their debts were paid. The state legislature of Massachusetts responded to this economic crisis in a very inadequate manner such as increasing court costs and raising taxes.
On this day the “rebels” seized Worcester, Massachusetts, and were attempting to have others join them in the overthrowing of the government. They were also raiding homes, stealing food, clothing, and whatever valuables they could lay their hands upon. By February 1787, however, they were completely routed. The rebels were captured and sentenced to death for treason, but they were later pardoned.'s_rebellion.html
    1792- George Washington was reelected president of the United States. John Adams was elected vice president. The electoral vote was Washington, 132, Adams, Federalist of Massachusetts, 77; George Clinton, anti-Federalist of New York, 50. In those days, the person who came in second was
vice-president. The4 third Congress consisted of 30 senators of whom 17 were Federalist and 13 Democratic-Republicans. In the House the count was 57 Democratic-Republicans and 48 Federalists.
    1804- Thomas Jefferson was reelected president of the United Sates. George Clinton, first governor of New York and like Jefferson, a Democratic-Republican, was elected vice president. The electoral vote was Jefferson, 162; Charles C. Pinckeny, Federalist of South Carolina, 14. This was the first election with separate ballots for president and vice president.
    1822--Birthday of Elizabeth Cabot Cary Agassiz, educator instrumental in founding the Harvard University Annex for women students, renamed in 1894 as Radcliffe College in honor of Ann Radcliffe, founder of the first Harvard Scholarship (1643). She served as its president until 1899. She had received no formal schooling in the tradition of the times, WAS only educated in a "light" manner at home. She married Swiss naturalist Louis Agassiz, recorded his notes and lectures, and organized his expeditions to Brazil and South America. She wrote several natural history books and began to teach in her home to supplement the family income.
    1832- Andrew Jackson re-elected President of US by 687,502 popular votes and 219 electoral votes against 530,189 popular votes and 49 electoral votes for Henry Clay. Martin Van Buren was elected Vice-President
    1839 – Birthday of General George Armstrong Custer, Born, New Rumley, Ohio. (U.S. military officer; killed in battle at Little Bighorn, June 25, 1876). Considered a civil war hero. In 1867, he was court-martialed for not following orders or taking care of his men or following orders to protect farms. He had left his fort to visit his wife 275 miles away, who he had not seen for quite some time. Being the general in charge, he had the authority to do this, and did not pursue a group of Indians along the way, due to lack of information, including size and direction. He claimed he was being made a scapegoat for a failed campaign and General Sheridan late re-appointed him. He quickly redeemed himself .Ulysses S. Grant was so infuriated with Custer’s activity, that he demoted him. Custer was popular among battle officers and was later re-instated to lead further activities against “hostile Indians.” While reportedly not popular with his men or other military, he was a fighter, who was known to charge into battle with simple plans, which was his modus operendi. It is said that in his final battle, one of his captain’s hesitated in the attack, delaying another, making Custer attack with only half of his troops and leaving a hole for the Indians to escape and eventually surround the small force in shear numbers, even though many did not have fire arms. The death of he and his 210 men became a war cry to “kill all the Indians” as the country moved further west.
    1843-The Navy launched is first iron side wheel steam, the “Michigan”, Erie, PA.
    1848- President Polk triggers Gold Rush of '49, confirms California gold discovery. News of the discovery of gold in California in January was slow in reaching the East. Word of it first appeared in the New York Herald on August 19, but no great excitement was created until President James. K. Polk expressed enthusiasm about it in his message to Congress. The rush began by land across the continent and by sea and land via the Isthmus of Panama. The first shipload of prospectors arrived in San Francisco via Cape Horn on February 28. About 80,000 people made their way to California in     1849---55,000 overland and 25,000 by sea. About 5000 that started out overland never made it because Asiatic cholera swept their ranks. By the end of 1848, gold worth $10,000,000,000 had been mined.
    1862- Battle of Coffeeville MS
    1865-In the wake of the Civil War, fiscal conservatives attempted to curtail the use of greenbacks, paper money minted to support the Union. The drive to end greenbacks got a boost on December 5, 1865 when Treasury Secretary Hugh McCulloch made a plea for the currency to be discontinued. However, proponents of greenbacks kept the currency flowing into the 1870s.
    1870-Birthday of Bill Pickett, rodeo cowboy born at Williamson County, Texas. Inventor of bulldogging, the modern rodeo event that involves wrestling a running steer to the ground. Died at Tulsa, OK, April 21, 1932.
    1876-President Ulysses S. Grant delivered his speech today, apologizing to Congress, claiming mistakes he made while he was president were due to his inexperience. His errors, he said, were "errors of judgment, not intent." While Grant's personal integrity was never formally questioned, he was closely associated with many government scandals which became public during his presidency. The scandals included at attempt to corner the gold market, significant fraud in the Treasury Department and Indian Service. His term in office had many other “scandals” and was full of wide-spread corruption, particularly from cabinet members and other “financial” supporters.
    1894-Birthday of Phillip Knight Wrigley, baseball executive, born at Chicago, IL. Wrigley inherited the Chicago Cubs upon his father’s death in 1932. He and his family owned the team for 60years until selling it to the Tribune Company in 1981. Died at Elkhart, WI, April 27, 1977.
    1901-Birthday of Walt Disney, animator, filmmaker, theme park developer, born at Chicago, IL. Disney died at Los Angeles, CA, Dec. 15, 1966. He personally supervised the building of
Disneyland, living on the premise, visiting the only night event, sometimes with Ward
Kimball, as Dixieland was played there (one of my high school jobs was playing clarinet
and bass sax during the off nights, the week, and he was a frequent visitor with his own glass---as the bar only served beer.)
    1912 -- Marshall Royal Birthday ( lead altoist, band manager for Count Basie )
    1916- Sneakers with rubber soles and plain cloth uppers were sold from the early 1870s by Charles Goodyear of New York City, who de­veloped the vulcanized rubber shoe sole, and by many other footwear companies. The first brand of sneakers was Keds, introduced today in 1916 by the United States Rubber Company, the successor to Goodyear’s shoe company. The first Keds had black soles and high-top brown canvas uppers, mimicking leather shoes. The name was a combination of “kids” and ped, the Latin won] for “foot.”
    1920-Singer Kay Davis born Evanston, IL. With Duke Ellington in the 1940’s., Transblucency, Minnehaha.
    1922-Birthday of Ann Shaw Carter, first woman to hold a helicopter rating. ASC had served with the Women's Army Service Pilots (WASPS), which ferried fighters and bombers during World War II.
    1929-Three men organized the American League for Physical Culture in New York City, the first nudist organization.
    1933-Prohibition ended with the repeal of the Eighteenth Amendment, as the Twenty-First Amendment was ratified. Actually during this period, hospital and other records of alcoholism went down. There were considerably less accidents and deaths caused by drunk driving, and crime was more related to “lack of money” and the depression, than drinking. The law did not allow the transportation or making of alcoholic drinks, but private clubs and many restaurants had a long supply (and were able to purchase without the federal or sales tax, actually at a lower cost when the government was regulating it. ) The grape industry suffered; however, individuals were allowed to make up to 300 gallons a year, plus beer, which created many home wine and beer makers ( which you legally can do today.).
    1934-American educator Mary McLeod Bethune founds National Council of Negro Women.
    1934-Birthday of bass player Art Davis, Harrisburg, PA
    1934—Birthday of Joan Didion - novelist, journalist, writer and essayist. Best known for The White Album (1979), A Book of Common Prayer (1977) and Play It As It Lays.
    1935-Birthday of “Little Richard” Penniman, singer, songwriter, born Macon, GA.
    1936 - Bing Crosby took over as host of "The Kraft Music Hall". Jimmy Dorsey (who would later be host, himself) led the Kraft Orchestra.
    1941 - President Roosevelt sent a message to Japanese Emperor Hirohito expressing hope that gathering war clouds would be dispelled. Hirohito smiled enigmatically, knowing that Japan would attack Pearl Harbor the next day.
    1941-The “Lexington,” one of the two largest aircraft carriers employed by the United States during World War II, started its way across the Pacific in order to carry a squadron of dive bombers to defend Midway Island from an anticipated Japanese attack. Negotiations between the United States and Japan had been ongoing for months. Japan wanted an end to U.S. economic sanctions. The Americans wanted Japan out of China and Southeast Asia and Japan to repudiate the Tripartite "Axis" Pact with Germany and Italy before those sanctions could be lifted. Neither side was budging. President Roosevelt and Secretary of State Cordell Hull were anticipating a Japanese strike as retaliation-they just didn't know where. The Philippines, Wake Island, Midway Island-all were possibilities. American intelligence reports had sighted the Japanese fleet movement out from Formosa (Taiwan), apparently headed for Indochina. The U.S. State Department demanded from Japanese envoys explanations for the fleet movement across the South China Sea. The envoys claimed ignorance. Army intelligence reassured the president that, despite fears, Japan was most likely headed for Thailand-not the United States. The Lexington never made it to Midway Island; when it learned that the Japanese fleet had, in fact, attacked Pearl Harbor, it turned back-never encountering a Japanese warship en route or employing a single aircraft in its defense. By the time it reached Hawaii, it was December 13.
    1944--McWHORTER, WILLIAM A. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company M, 126th Infantry, 32d Infantry Division. Place and date: Leyte, Philippine Islands, 5 December 1944. Entered service at: Liberty, S.C. Birth: Liberty, S.C. G.O. No.: 82, 27 September 1945. Citation: He displayed gallantry and intrepidity at the risk of his life above and beyond the call of duty while engaged in operations against the enemy. Pfc. McWhorter, a machine gunner, was emplaced in a defensive position with 1 assistant when the enemy launched a heavy attack. Manning the gun and opening fire, he killed several members of an advancing demolition squad, when 1 of the enemy succeeded in throwing a fused demolition charge in the entrenchment. Without hesitation and with complete disregard for his own safety, Pfc. McWhorter picked up the improvised grenade and deliberately held it close to his body, bending over and turning away from his companion. The charge exploded, killing him instantly, but leaving his assistant unharmed. Pfc. McWhorter's outstanding heroism and supreme sacrifice in shielding a comrade reflect the highest traditions of the military service.
    1945 - At 2:10 p.m., five U.S. Navy Avenger torpedo-bombers comprising Flight 19 take off from the Ft. Lauderdale Naval Air Station in Florida on a routine three-hour training mission. Flight 19 was scheduled to take them due east for 120 miles, north for 73 miles, and then back over a final 120-mile leg that would return them to the naval base. They never returned. Two hours after the flight began, the leader of the squadron, who had been flying in the area for more than six months, reported that his compass and back-up compass had failed and that his position was unknown. The other planes experienced similar instrument malfunctions. Radio facilities on land were contacted to find the location of the lost squadron, but none were successful. After two more hours of confused messages from the fliers, a distorted radio transmission from the squadron leader was heard at 6:20 p.m., apparently calling for his men to prepare to ditch their aircraft simultaneously because of lack of fuel. By this time, several land radar stations finally determined that Flight 19 was somewhere north of the Bahamas and east of the Florida coast, and at 7:27 p.m. a search and rescue Mariner aircraft took off with a 13-man crew. Three minutes later, the Mariner aircraft radioed to its home base that its mission was underway. The Mariner was never heard from again. Later, there was a report from a tanker cruising off the coast of Florida of a visible explosion seen at 7:50 p.m. The disappearance of the 14 men of Flight 19 and the 13 men of the Mariner led to one of the largest air and seas searches to that date, and hundreds of ships and aircraft combed thousands of square miles of the Atlantic Ocean, the Gulf of Mexico, and remote locations within the interior of Florida. No trace of the bodies or aircraft were ever found. Although naval officials maintained that the remains of the six aircraft and 27 men were not found because stormy weather destroyed the evidence, the story of the "Lost Squadron" helped cement the legend of the Bermuda Triangle, an area of the Atlantic Ocean where ships and aircraft are said to disappear without a trace. The Bermuda Triangle is said to stretch from the southern U.S. coast across to Bermuda and down to the Atlantic coast of Cuba and Santo Domingo.
    1946-- President Truman creates Committee on Civil Rights by Executive Order #9808
    1947- Joe Louis beats Jersey Joe Walcott in 15 for heavyweight boxing title
    1948 - The first church service in sign language for the hearing impaired was broadcast from St. Matthew’s Lutheran Church for the Deaf in Jamaica, Long Island. WPIX-TV, Channel 11 in New York aired the telecast.
    1950 - Pyongyang in Korea fell to the invading Chinese army.
    1950---Top Hits
All My Love - Patti Page
A Bushel and a Peck - Perry Como & Betty Hutton
Rudolph, the Red-Nosed Reindeer - Gene Autry
I’m Moving On - Hank Snow
    1951 - The first push button-controlled garage opened in Washington, DC. A single attendant, without entering a car, could automatically park or return an auto in less than a minute.
    1952- “ The Abbott and Costello Show” premiered on television. . Bud Abbott and Lou Costello made 52 half-hour films for television incorporat­ing many of their best burlesque routines. The show ran for two seasons, until 1954. Costello was born at Paterson, NJ, Mar 6, 1906, and died at East Los Angeles, CA, Mar 3, 1959. In 1966 Hanna-Barbera Productions produced an animated cartoon based on the characters of Abbott and Costello. Abbott supplied his own voice while Stan Irwin imitated Costello. Bud Abbott was born at Asbury Park, NJ, Oct 2, 1895 and died at Woodland Hills, CA,
Apr 24, 1974. “Who’s on First?”
    1953 - a killer F4 tornado struck Vicksburg, MS, killing 38 and injuring 270. This was the last killer tornado of 1953, concluded one of the worst tornado years on record. Every corner of the nation east of the Rockies was hit by violent tornadoes. In no other years have violent tornadoes been so widespread
    1955- Rosa Parks was arrested at Montgomery, Alabama on December 1 for refusing to give up her seat to a white man. This was following the Interstate Commerce Commission ban on integrated buses and bus stops, which Alabama ( and other states) were ignoring. In support of Parks, and to protest the arrest, the black community of Montgomery organized a boycott of the bus system. Dr. Martin Luther King, Jr., at first reluctant to have his church involved, listened to the calls of his parishioners and joined the boycott where the assemblage pushed him into the fore front. When I interviewed him as a newsman, he was “shy” at the time, he explained, and did not consider himself a leader, but “caught up in the movement.” The boycott lasted from December 5, 1955, to December 20, 1956, when the US Supreme Court ruling was implemented at Montgomery, integrating the public transportation system.
    1955-The AFL-CIO was founded. The American Federation of Labor and the Congress of Industrial Organization joined together, following 20 years of rivalry, to become the nation's largest leading advocate for trade unions.
    1956- The Alan Freed movie Rock! Rock! Rock!, starring Chuck Berry, The Flamingos, Frankie Lymon and the Teenagers, Lavern Baker, and Johnny Burnette premieres in New York City.
    1958---Top Hits
To Know Him, is to Love Him - The Teddy Bears
One Night - Elvis Presley
Problems - The Everly Brothers
City Lights - Ray Price
    1960- Billboard reports that five "answer records" to Elvis Presley's "Are You Lonesome To-night?" have been released -- four versions of "Yes, I'm Lonesome Tonight" and one "Oh, How I Miss You Tonight."
    1964-The first Medal of Honor awarded in the Vietnam War was present to Army Captain Roger Hugh Donlon of Saugerties, NY. He was wounded four times ( n the stomach, leg, shoulder, and face) at Nam Dong, about 20 miles from the Laotian frontier. The award was the first since the Korean War, the first in a counterinsurgency effort, and the first to a solider with a friendly foreign force engaged in an armed conflict in which the United States was not at war, a “belligerent.” Now retired, Col. Roger resides in Leavenworth, Kansas with his lovely wife of more than 30 years, Norma. They have 4 sons and Roger has a daughter from a previous marriage. The Donlon's have a number of grandchildren and spend their time traveling, giving motivational speeches, promoting Roger's book, "Beyond Nam Dong", and working with The Westmoreland Scholar Foundation, an educational foundation dedicated to fostering reconciliation between the American and Vietnamese people.
    1964- Lorne Greene's "Ringo" hits #1
    1964- The Beach Boys' Beach Boys Concert album hits #1
    1964- The Zombies' "She's Not There" enters the pop charts
    1964- The Kinks' "You Really Got Me" enters the pop charts
    1966---Top Hits
Winchester Cathedral - The New Vaudeville Band
Good Vibrations - The Beach Boys
Devil with a Blue Dress On & Good Golly Miss Molly - Mitch Ryder & The Detroit Wheels
Somebody Like Me - Eddy Arnold
    1967- Baby doctor and writer Benjamin Spock along with Poet Allen Ginsberg
and others arrested protesting Vietnam war.

    1970 - A North Vietnamese newspaper declares that the country will not be intimidated by U.S. bombing threats. Earlier in the week, U.S. Secretary of Defense Melvin Laird had warned that the U.S. would initiate new bombing raids on North Vietnam if the communists continued to fire on unarmed reconnaissance aircraft flying over their air space. Responding to Laird's threats, North Vietnamese officials declared that any U.S. reconnaissance planes that flew over North Vietnam would be fired upon. This declaration implied that North Vietnam would not be forced into concessions, and was prepared to continue the war regardless of the cost.
    1972-The Mormon Church officially excommunicates Sonia Johnson, founder of "Mormons for the ERA," for her efforts on behalf of the Equality Rights Amendment. She was fifth generation Mormon.
    1973- Paul McCartney releases "Band on the Run" album.
    1974- The National Football League announces that it has voted membership to Seattle Professional Football, Inc., headed by Lloyd W. Nordstrom with partners Herman Sarkowsky, D.E. “Ned” Skinner, Howard S. Wright, M. Lamont Bean, and Lynn P. Himmelman.
    1974---Top Hits
I Can Help - Billy Swan
Kung Fu Fighting - Carl Douglas
When Will I See You Again - The Three Degrees
Back Home Again - John Denver
    1975- The Fleetwood Mac album is certified gold
    1975- Earth, Wind and Fire's Gratitude album is certified gold
    1981- an explosively deepening ocean storm southeast of New England caught forecasters off guard and unloaded heavy snows over New England. Boston, MA was buried with 13.5 inches and parts of southeast Massachusetts and Rhode Island reported over 2 fee
    1982---Top Hits
Truly - Lionel Richie
Gloria - Laura Branigan
Mickey - Toni Basil
You and I - Eddie Rabbitt with Crystal Gayle
    1982 — The Cowboys beat Washington 24-10 at RFK Stadium for the club's -- and Tom Landry's -- 200th regular-season victory.
    1984 - Kareem Abdul-Jabbar, at age 37, was the oldest player in the National Basketball Association. He decided to push those weary bones just one more year by signing with the Los Angeles Lakers -- for $2 million. Other NBA greats who played for 16 seasons include John Havlicek of Boston, Dolph Shayes of Philadelphia, Paul Ilas of Seattle and Elvin Hayes of Houston.
    1984 - a heavy snow came to an end in Oklahoma. 10 inches fell at Skiatook, OK and 6.1 inches at Oklahoma City, OK
    1988-"Kokomo" by the Beach Boys topped the charts and stayed there for a week.
    1992 - The rappers known as Ice Cube hit it big as their "The Predator" became the #1 album in the U.S. The tracks: "The First Day of School (Intro)", "When Will They Shoot?", "I’m Scared (Insert)", "Wicked", "Now I Gotta Wet’ Cha", "The Predator", "It Was a Good Day", "We Had to Tear This ________ Up", "________ ’Em (Instert)", "Dirty Mack", "Don’t Trust ’Em", "Gangsta’s Farytale 2", "Check Yo Self (Featuring DAS EFX)", "Who Got the Camera?", "Intergration (Insert)", "Say Hi to the Bad Guy".
    1988 -Televangelist Jim Bakker was charged by a federal grand jury with mail fraud and conspiracy to defraud the public through the sale of thousands of lifetime memberships to PTL theme park, Heritage U.S.A. (Bakker was convicted the following year and sentenced to prison.),1,27,00.html
    1990---Top Hits
I’m Your Baby Tonight - Whitney Houston
Because I Love You (The Postman Song) - Stevie B
From a Distance - Bette Midler
Come Next Monday - K.T. Oslin
    1991 -Charles Keating Jr (Lincoln Savings & Loan fraud), found guilty.
    1996 - The baseball players union executive board unanimously approved a new collective bargaining agreement, marking the end of the longest labor dispute in baseball history. The new agreement introduced a Luxury Tax, revenue sharing, inter league play, and several provisions designed to compel the future cooperation of owners and players.
    1998 - James P. Hoffa won the Teamsters presidency after challenger Tom Leedham conceded defeat in the union's presidential election. Leedham said it was difficult to compete against Hoffa’s name recognition, financing and more than four years of campaigning for the top post of the largest private sector union in the U.S. There are some that say “Junior” was one of those involved in the disappearance of his father, probably part of the cement structure holding up a bridge or building.
    1998 - R. Kelly & Celine Dion were number one in the U.S with their single, "I’m Your Angel".
    2002- Elton John guest stars on NBC's Will and Grace.



Football Poem

Kick In The Teeth

She looks at you
She smiles at you
She asks you to meet her at the bus stop
She asks you to pay her fare
She wants to go out for a meal
She wants to go to the football
She says you make her laugh
She says that you're her best friend
She emails you
She sends you texts
But she sleeps with somebody else.

Pablo Davis




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



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