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Monday, February 26, 2007


Classified Ads---Controller/Contract Administrator
    Archives-February 26, 2001---“Advance Rentals”
        Loan/Lease Broker Statutes
Former HP Top Sales Person joins Davin’s Benchmark
    Classified ads---Help Wanted
Top Stories---February 21-23
    Leasing News Cartoons
        Cartoon---Welcome Home
Leasing News Archives Search---up-date
    Leasing 102--by Mr. Terry Winders, CLP
    “What is a Residual?”
        $100 MM Secured Loan Agreement for AXIS Capital
TD Banknorth Leasing continues to grow mid-Atlantic
    Euro rises against dollar
        BofA program isn't about illegal immigrants
    East Braces for Deadly Winter Storm
JetBlue Cancels 68 JFK Flights
    News Briefs---
        You May have Missed---
California Nuts Brief---
    Sports Briefs---
        "Gimme that Wine"
Calendar Events
    Snapple Real Facts
        Today's Top Event in History
This Day in American History
    Winter Poem
            Daily Puzzle

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


Classified Ads---Controller/Contract Administrator


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.

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

Controller: 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.
Controller: Uniondale, NY
I have a strong multifaceted background in all areas of lease accounting combining my years as a Controller of leasing companies and as Vice-President of Leasing for a NY Bank.
Controller: 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:



Archives-February 26, 2001---“Advance Rentals”

(Name and Company Name with Held...This e-mail has been edited to protect the sender. This source is rated reliable, perhaps highly reliable, and for the sake of identity, it was edited. )

This is a deal I recently doc'd. When I spoke to this customer in **** I got an application from him and pulled credit it was not that bad so I quoted him at competitive rates and doc'd the deal. When the check was in house I started looking for an approval for the customer. Here is where I got confused. I had quoted the customer one rate but very rarely am I able to give it to them. If I can provide an approval it is usually much higher than the original quote. I then tell the customer that he can either pay the increased rate or I keep his money. Those are his only choices. So I make money on almost every set of documents I send out either on the funding or on the advanced rentals.

Myself and many of the other employees here and at ****** are making a nice living off of advanced rentals and the current commission structure. I've seen thousands accumulated in a few weeks. We are pretty much commission driven..... (including document fees and the ability to get a percentage of the advance rentals).

Thank you for keeping my name out of this. We have been informed that we will be fired immediately for writing you about any subject.

+ + +

Re: Advance Rentals/Commitment Fees

With reference to Mr. Fleming's comments on advance rentals, I think your readers should bear in that both Joe Bonanno and I have been warning for years that collecting rents and security deposits before deals are approved, while a common practice and not per se unreasonable, can lead to a lot of trouble. It is an issue the NAELB has addressed in newsletters and articles - some of which are on Joe's and my web sites.

Many states have laws (often un-enforced) prohibiting this practice except by state and national banks. Others require registration and/or bonds.

At the very least, the lessee should sign a clear agreement as to the application or return of the funds and brokers should carefully consider whether to get the checks in their own names and endorse them over to the funder or have them made out to the funder directly and step out of the line of fire (at least in part).

As always, thanks for your continuing service to us all!

Barry Marks

= + + +

In response to the recent clamor regarding the retention of "advance rentals", this is, in my opinion, clearly an issue of contractual intention, whether that contract is written or oral. In the arena of commercial transactions, which constitute the bulk of the lease and finance deals in which our clients are involved, the parties are by law free to agree to any arrangement which is neither against public policy nor unconscionable. If a "commitment fee" is meant to be non-refundable, as it can be under appropriate circumstances, the parties should specifically agree to this. It is best of course that this agreement be written. If there is no written or oral agreement, it is my position that advance rental fees and the like are refundable if no lease or financing is consummated. Brokers and lessors wishing to agree otherwise should make sure that their prospective customers recognize this fact, and that their agreement is embodied in a clear and unambiguous writing. If their is no meeting of the minds on this issue, I doubt that the courts will be inclined to allow brokers or lessors to retain advance rentals even if time and energy is expended and no deal is done, just as is the case in the real estate and loan brokerage fields.

Ken Greene
Kenneth C. Greene & Associates



Loan/Lease Broker Statutes

These statues not only apply to all leasing brokers, but to all discounters and lessors who are not licensed elsewhere ( many states do not require this for banks: however, bank subsidiaries may be required to have such a license. Some states allow licenses real estate brokers or mortgage companies to engage in financing. )

In all the states we are aware anyone anyone in the loop who is not a dirrect employee of a licensed entity requires a license. There are some provisions regarding what is known as a "true lease," that means all the IRS and accounting standards as a true lease, really a "rent," may not be required to have a licenses, such as a rental yard, but it is safe to have one if you are receiving renumeration for involvement in a lease finance situation ( and if you don't know what that is not, you need a license.)

Arizona: All “advance fee loan brokers” must register annually with the state.

Arizona Revised Statutes, sec. 06-1303-1310 (1996)

Arkansas: All brokers of “a loan of money, a credit card or a line of credit” may not assess or collect an advance fee. In addition, all brokers must register with the Securities Commissioner, post a surety bond of $25.000 and have a net worth of $25,000.

Arkansas Code Annotate sec. 23-39-401 (1995)

California: No person shall engage in the business of a finance lender or broker without obtaining a license from the Commissioner. California Financial Code, Division 9, Chapters 1 and 3

Connecticut: Brokers of “unsecured loans” may not assess or collect an advance fee. Connecticut General Statues, sec. 369-616 (1997)>

Florida: Brokers of a “loan of money, a credit card, line of credit or related guarantee, enhancement or collateral of any nature” may not assess or collect an advance fee. Florida Statues, Chapter 687.14 (1992)

Georgia: A broker of “loans of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee unless such fee is for “actual services necessary to apply for the loan.”

Official Code of Georgia Annotated, sec. 7- 7-1 (1992)

Idaho: No fee may be collected unless a loan is actually made.

Idaho Code, sec. 26-2501 (1992)

Illinois: Code ,815 ILCS 175/15-5.03

Under the Act, a ”loan broker” means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a)

Specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to “the” person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate.

“In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or evoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorneys fees.”

This appears as standard language on most states.

Iowa: A broker of loans of “money or property” may not assess or collect an advance fee except for a “bona fide third-party fee” and a broker must obtain a bond or establish a trust account and file required documents with the Commissioner or Insurance.

Iowa Code, sec. 535C (19920

Kentucky: Brokers of “a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee. Kentucky Revised Statutes Annotated, sec. 367.380 (1992)

Louisiana: A broker of loans of “money or property…whether such agreement is styled as a loan, a lease or otherwise” must obtain a surety bond or establish a trust account in the amount of $25,000. A broker may not collect an advance fee but may collect an “advance expense deposit for commercial loans” only for actual expenses incurred in obtaining the loan. Louisiana Revised Statutes Annotated, sec. 9:3574 (1993); Louisiana Revised Statutes Annotated, Sec. 51:1910 (1992)

Mississippi: A broker or loans of money may not assess or collect an advance fee and can be fined up to $5,000 for each violation. Mississippi Code Annotated, sec. 81-19-17 (1997)

Missouri: A broker of loans of “money or property” may not assess or collect an advance fee. Missouri Revised Statues, sec. 367 300 (19920)

Nebraska: A broker of loans of money may not assess or collect an advance fee. Nebraska Revised Statutes, sec. 45-189 (1993)

New Jersey: Brokers of “loans of money” may not assess or collect an advance fee.

New Jersey Rev. Statutes, sec. 17:10B (1992)

New Mexico:
New Mexico currently requires Brokers/Lessors to register for Licensing under the NM Mortgage loan Company or Loan Broker Act with the Financial Institutions Division of the State of New Mexico.B anks with Brick and Mortar within the State of New Mexico are exempt.

Prior to licensing applicants must submit the Following:

Articles of Incorporation
Listing of all principals (including management)
A full financial Package (to meet their minimum requirements of liquidity)
Personal financial statements on all principals
Disclosure of all current or past suits (civil or criminal)
Attach a corporate surety bond
Include a $400.00 registration fee renewable yearly

North Carolina: A broker of “loans of money or property…whether such agreement is styled as a loan, a lease or otherwise” must obtain a surety bond or establish a trust account in the amount of $25,000 and obtain a license. North Carolina General Statutes, sec. 66-106 (1992)

North Dakota: Brokers may not accept an advance fee unless the broker is licensed. North Dakota Century Code, 13-04. 1-09.1 (1993)

Ohio: Department of Commerce, Division of Financial Institutions
(Certificate to engage in the business of a credit services organization in accordance with the provisions of Sections 4712.01 to 4712.14 of the revised code of Ohio, subject to all the provisions thereoff and to the regulations of the division.) Ohio Department of Taxation require's a "Vendor's License" under provision 5739.17 of the REvised Code ( hereby authorized to sell tangible personal property and selected services at the retail locatoin specified bleow.) This also makes the lessor responsible for all taxes with penalties for not doing so.

South Carolina: A broker of “a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee. South Carolina Code Annotated, sec. 34-36-10 91992)



Susan Holmes, Former HP Top Sales Person joins Davin’s Benchmark

Marcus Davin, President and CEO of Benchmark Financial Groups, Aliso Viejo, CA, announces that Susan Holmes has been hired as a Senior Account Executive with Benchmark, an equipment finance company located in Aliso Viejo, CA.

“Susan previously worked at HP Financial Services for the past eight years where she was the top sales rep in the U.S. for 2002-2004,” he said. “Susan brings with her many long term relationships that will benefit from our quick approvals, wide credit windows and low rates. “She has always been a top performer and we look forward to helping her succeed”.

Benchmark is located in Southern California and has branches throughout the US. Benchmark works with vendors and distributors of computer, medical, machinery, fitness, software, post production, yellow iron and franchises.

Marcus Davin is the founder of Bluedot Funding, sold to IFC Credit Corporation.

Marcus Davin
Benchmark Financial Groups, LLC



Leasing Industry Help Wanted

Credit Analyst

Credit Analyst
Irvine, California

Southern California candidates only--Minimum two years experience with leasing credits, $40-$45K base depending on experience.
Call or e-mail: Pamela Stuber 800-234-0136 ext. 243

About Us: As a leader in equipment financing we have created funding partnerships with a wide variety of financial institutions and specialized credit facilities. This diversity allows us to be a complete funding partner for your business.

Sales Regional Office

Financial Funding Services, LLC

Sales/Regional Office

Generous Compensation with above average industry commission splits/unlimited income potential, six figures plus and nationwide financing for A – D credit.
Click here for more info.

Small Ticket Specialists

Three Small Ticket Specialists

Ft. Lauderdale, FL, Nashville, TN, and
Richmond, VA.
Click here for more information.



Build A Sales Machine
Lessons from growth...reduce uncertainty...create a predictable, sustainable sales machine.

At, Aaron Ross built a new $20 million inside sales team from scratch and spent a year in the corporate development (acquisitions and investments) team. Aaron founded LeaseExchange (now, an online equipment leasing marketplace.

As an entrepreneur, he has been in Time, Businessweek and The Red Herring. Prior to LeaseExchange, Aaron worked at a the Intel/SAP joint venture Pandesic, did M&A at the investment bank Robertson Stephens, and graduated from Stanford University with a degree in Environmental Civil Engineering. Aaron is an Ironman triathlete, graduate of the Boulder Outdoor Survival School and volunteer counselor for the SBA / SCORE (Service Corps of Retired Executives).

Best Prospecting Practices of

Sales prospecting is now a core competency of I haven't yet come across a company that has a more effective system, and I've looked hard, since I am always looking for better, more productive methods.

If prospecting is important to your team, and especially if you have people dedicated to it, it's worth taking a look at a couple of presentations has posted from past Dreamforces:

Aaron Ross



Top Stories---February 21-23

Here are the top ten stories most "opened" by readers last week.

(1) Leasing 102 --by Mr. Terry Winders, CLP
“What is a lease?”

(2) Orix Leasing in the USA

(3) Most Requested Vehicles to Lease

(4) Where in the world is Paul Weiss?

(5) Cartoon—sensitivity training

(6) Story Credit Lessors

(7) RW Professional Sentencing Up-Date

(8) SunTrust remains the market leader here

(9) Credit crisis: nonprime mortgage market

(10) 30-year mortgages rates drop



Leasing News Cartoons

Readers often ask if they can “copy” cartoons that are published here. If it is for personal use, to send to a friend, that is okay.

If it is a cartoon created by Leasing News, yes you may copy it and use anywhere. Leasing News does not copyright its articles, cartoons, placards, and expressly gives permission to anyone on the
internet that they may be copied.

Any cartoon that is copyrighted cannot be distributed or utilized in another publication, including the internet, or for any commercial use, including non-profits. The copyright notification is included at the bottom of these cartoons.

Leasing News purchases the rights to the cartoons for use on We recently purchased 52 new ones from the New Yorker magazine to run this year. Your editor is now choosing 20 new cartoons from Sydney Harris and a dozen or more from Dan’s Cartoons. We may purchase the rights to other cartoons from commercial distributors to fit specific articles, too.





Leasing News Archives Search---up-date

There are two buttons under the masthead. One will take you directly to the current month archives of news editions. At the bottom, the archives are placed by year and month and go back to
April, 2000.

The other button under the masthead will “search” the archives. It is free. Most archives are not free for stories over a month or so old. Our archives have been cumbersome at over 5,000 pages to say the least.

Recently we have spent more time and money to get the archives to perform better. In the past, the news search was by the most read, as Google does theirs (with the most recent posted
at top, but it changes.) Our new indexing is by chronological order, as Yahoo does their news searches. It is our guess that readers are more interested in current news on what they are searching
rather than older news.

In trying to tweak this, we ran into stories that are not linked by chronological date, but other links we have created, such as “top stories,” “the list,” “funder.” The good news is there are basically still in chronologically order as they appeared. The bad news, some may be duplicates of ones with a date. This has been a long term project to clean up, whenever we find the time for this chore. Luckily they only go back three years or so.

Readers can define the search with an “advance search.”

We intend to spend more time up-grading the system. If anyone has any suggestions or comments, please send to



Leasing 102

“What is a Residual?”

by Mr. Terry Winders, CLP

It appears that nothing strikes more fear into some lessor’s that the thought of a residual. If that is the case then you should look for another line of work. Residuals are necessary if you want to create a legal, tax, or operating lease. “$1 out” leases will always be around, but they only represent 40% of the business--- which means you are missing a major part of the market.

A residual is properly defined as “The lessor’s unrecovered investment at lease termination”. It is one of the risks we are expected to take to prove we are in the leasing business and not just money lenders. Leverage lease guidelines created by RR 75-21 in 1975 required the lessor to “represent and demonstrate” that the equipment still retained 20% of its value at lease termination. Assuming a 20% residual or higher meet this requirement. Congress in 1984 stated that these rules where not for audit purposes but it sure showed lessors what the IRS was thinking. A residual helps show that the lessor is taking an equipment risk and is therefore acting like an equipment owner and not a lender. Currently there is no requirement that non-leveraged lessor’s assume a residual, but a residual does add a lot of dimension to the lease structure.

However, any residual not over 12% usually means that if the residual is worthless, from a cash flow perspective only a loss of profit occurs, not a loss of principle. Also a residual usually increases the net profit during the term of the lease because the investment in the equipment is returned slower making the earnings higher.

A 60 month term lease (payments in advance) on $100,000 at 10%, with a $1 purchase option, returns a total of $126,428.70, whereas the same terms with a 10% residual returns a total of $118,744.50 plus the residual $10,000 for a total of $128,744.50. This means the residual created $2,315.80 more income and even if the residual was worthless the $118, 744.50 covered the investment and the money cost. So where is the risk? Residuals make money, so unless you plan to lose on all your residuals you should consider looking at the equipment with residuals in mind.

A proper residual assumption begins with a complete equipment description, and I mean a complete equipment description, and a good understanding of how the lessee plans to use it. (If you do not have a good “equipment use and description form” email me and I will give you one.) Then you need to create attachments to your lease to cover maintenance requirements and return conditions and these should be created for each industry you service and in accordance with recommendations from manufacturers and secondary market sources.

Return conditions can not require the lessee to return the equipment to like new condition because the law says we have to expect normal wear and tear and allow for it in our lease agreement. But we can expect the equipment to be returned in “operating condition” with all attachments and to repair any damage and remove any company labels or signs. Of course, only expect to get back what you described on you lease schedule. You also need to let the lessee know that the Equipment shall be inspected jointly by representatives of Lessor and Lessee upon redelivery.

Occasionally it helps to have a statement in the lease that the lessee “may be subject to an inspection fee, not to exceed $$$, to have the equipment inspected by an industry expert to make sure the equipment meets the return conditions. I have never had to impose the fee but the treat of the fee certainly improved the quality of my off lease equipment. Also if the equipment is maintained in good condition they are less likely to want to return it at termination.

Even high tech equipment requires some residual if for no other reason than to force the lessor to understand the equipment and review its lifecycle and secondary market opportunities.

A lot can be said on residuals and how to properly review the equipment request but the most important thing is to understand that if you spend as much time on investigating the equipment, as you do on the credit, residual risk should not worry you.

Mr. Terry Winders has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at or 502-327-8666.
He invites your questions and queries.


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

$100 million Secured Loan Agreement for AXIS Capital, Inc.

(Grand Island, NE – AXIS Capital, Inc. and WestLB AG, New York Branch announced the signing of a new secured loan agreement. This credit facility will provide $100 million in available funding to AXIS Capital, Inc. over a multi-year period.

This agreement calls for initial funding of $50 million and grows to a maximum Facility Amount of $100 million, as needed, over the three year period.

“This loan agreement will allow us to continue our steady growth into the numerous markets we serve,” stated Gordon Glade, President of AXIS Capital, Inc. “It will also provide more funding to our current vendor programs and clients at competitive rates.”

Glade also commented on the relationship with WestLB AG, saying “It’s great to partner with a bank that understands our business and is willing to provide strong financial support to our industry.”

“WestLB, as a lender in the equipment leasing space, gives clients the attention of a boutique bank with the capabilities of a bulge bracket firm,” said Matt Tallo, Director in WestLB’s Asset Securitization Group. “WestLB is pleased to be the sole lender in this transaction. We believe the structure of this facility provides AXIS Capital, Inc. with the flexibility needed to expand its business.”

About AXIS Capital, Inc.

AXIS Capital, Inc. is a nationwide provider of commercial finance solutions in the small to medium sized equipment and services financing market. Partnering with vendors and distributors, AXIS Capital, Inc. provides a diverse program of commercial finance solutions to businesses throughout the United States.

AXIS Capital, Inc. services its clients from locations across the country. The company was founded in 1996 in Grand Island, NE. For further information, visit or call toll free at (800) 994-0016.

About WestLB

WestLB AG is one of Germany’s leading financial services providers with offices in the world’s largest financial centers. The firm provides financial advisory, lending, structured finance, project finance, capital markets and private equity products, asset management, transaction services and real estate finance to institutions. WestLB has total assets of more than €292 billion, as of September 30, 2006. For more information, please visit

In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB’s wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC.


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

TD Banknorth Leasing Corporation Expands Portfolio via Interchange Capital Company

BURLINGTON, Mass. - TD Banknorth Leasing Corporation, a subsidiary of TD Banknorth, N.A, announced the addition of approximately $45 million in assets to its portfolio, following TD Banknorth Inc.'s acquisition of Interchange Financial Services Corporation on January 1, 2007.

Andy Rimol, former president of Interchange Capital Company, LLC, the leasing subsidiary of Interchange Bank, has joined TD Banknorth Leasing Corporation as senior vice president, team leader and will be responsible for continuing to grow the leasing portfolio in the Mid-Atlantic region.

"The addition of both Interchange Capital Company's portfolio and Andy to our organization strengthens our position in the Mid-Atlantic region," said Todd Derr, president of TD Banknorth Leasing Corporation.

"Over the past year, we have more than doubled our portfolio, and with Andy leading our Mid-Atlantic team, we look forward to continuing this strong pattern of growth."

TD Banknorth Leasing Corporation finances and leases a wide range of equipment to various organizations including manufacturing, distribution, technology and transportation companies, municipalities, school districts, not-for-profit organizations, and others.

About TD Banknorth Inc.
TD Banknorth Inc. is a leading banking and financial services company headquartered in Portland, Maine and a majority-owned subsidiary of TD Bank Financial Group. At December 31, 2006, TD Banknorth had $40 billion of total consolidated assets. TD Banknorth's banking subsidiary, TD Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. TD Banknorth and TD Banknorth, N.A. also operate subsidiaries and divisions in insurance, wealth management, merchant services, mortgage banking, government banking, private label credit cards, insurance premium financing and other financial services and offers investment products in association with PrimeVest Financial Services, Inc. The TD Banknorth common stock trades on the New York Stock Exchange under the symbol "BNK." For more information, visit


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

News Briefs----

Euro rises against dollar as Fed expected to keep rates on hold

Bank of America program isn't about illegal immigrants

East Braces for Deadly Winter Storm

JetBlue Cancels 68 JFK Flights,0,4903828.story?

Citigroup Finds Taker for Hard Job

'Departed' Arrives; Whitaker, Mirren Are King and Queen

Complete List of Oscar Winners

Dreamgirls, Babel Among Oscar Losers

Netflix reaches milestone with delivery of 1 billionth DVD

Jennifer Lopez, Gwen Stefani, Tony Bennett, Diana Ross and Bon Jovi are among nine musical stars who are set to appear on "American Idol" this season.



You May have Missed---

Oh, baby! Lenders see big bucks in boomers



Sports Briefs----

Santa Rosan Levi Leipheimer wins Tour of California



California Nuts Briefs---

Exclusive: Arnold Defends Hillary, Mulls U.S. Senate Run/Mayor-L.A.

Governor plans centrist theme for big speech
He's going national with a call to move past partisanship



“Gimme that Wine”

Much-maligned Merlot so unhip it's cool again

Napa Crush report shows wine grape production down, prices up

In Amador County, Gold Country morphs into Wine Country

Russian River Valley and Sonoma Coast Chardonnay

The little appellation that could
With only 189 acres, Cole Ranch is the nation's tiniest AVA, proving that small can be beautiful

Wine Prices by vintage

US/International Wine Events

Winery Atlas

Leasing News Wine & Spirits Page

The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.



Calendar Events This Day

For Pete’s Sake Day
An exclamation showing surprise, impatience, anger, or some other emotion, depending on the context. It is thought to be an abbreviation of using St. Peter’s name.

Jesus said: "Upon this rock I will build my Church, and the gates of hell shall not prevail against it." On this strong foundation, he says, I will build an everlasting temple. The great height of my Church, which is to penetrate the heavens, shall rise on the firm foundation of this faith.

Blessed Peter is therefore told: "To you I will give the keys of the kingdom of heaven. Whatever you bind on earth shall be bound also in heaven. Whatever you loose on earth shall be loosed also in heaven."

National Pistachio Day

Saint Feast Days

· St. Isabel of France
· St. Alexander
· St. Alexander of Alexandria
· St. Victor
· St. Dionysius of Augsburg
· St. Fortunatus
· St. Faustinian
· St. Nestor
· St. Papias



Cold water weighs less than hot water.

(Various sites on the internet state the opposite, that cold water weighs more than hot water.This is the sixth “Real Fact” that we have found that is not accurate. editor)



Today's Top Event in History

1870 -- Wyatt Outlaw, black leader of Union League in North Carolina , is lynched. Wyatt Outlaw, the Negro police officer who had fired upon the Klansmen at their first appearance in the county, was head of the Union League, an anti-Ku Klux Group in the County. His death had been determined by certain members of one of the Klan orders. A party of them rode into Graham on the night of February 26, 1870, seized Outlaw in his home, and carried him to a tree in the courthouse square. There they hanged him, leaving on his breast the inscription: "Beware, ye guilty, both black and white.” Many blacks were killed by the Klan, and Black homes and property burned/destroyed for the next sixty-five years, into the late 1920's.
    1873--By the year the American bison, also called the buffalo, was almost extinct, even though at the start of the nine­teenth century estimates placed the North American bison population as high as 60,000,000. Bison were essential to the way of life of the Indians of the Great Plains , who depended on them for food, clothing, and shelter. The symbiotic relationship of the Indians and the bison threatened neither group. However, with the coming of the railroad, professional buffalo hunters, and the settlement of the West, the situation changed. Bison were slaughtered far beyond any' need for food or hides. Although in 1865 about 10,000,000 bison still roamed the plains, by 1890 only 1000 or so were left.


This Day in American History

    1732- Mass was celebrated for the first time at St Joseph's Church , in Philadelphia the only Roman Catholic church built and maintained in the American colonies before the Revolutionary War.
    1750-Population estimated the number of white inhabitants of all the colonies to be 1,165,000, and the blacks (who were mostly slaves) to be 260,000, distributed as follows: WHITE. BLACK. Massachusetts .. 207,000 3,000 New Hampshire .. 50,000 3,000 Connecticut .. 133,000 3,500 Rhode Island .. 35,000 4,500 New York .. 85,000 11,000 New Jersey .. 73,000 5,000 Pennsylvania and Delaware .. 195,000 11,000 Maryland .. 104,000 44,000 Virginia .. 168,000 116,000 North Carolina .. 70,000 20,000 South Carolina .. 40,000 40,000 Georgia .. 5,000 2,000 Since the English Revolution in 1688--a period of only sixty-six years--the growth of the colonies in population had been marvelous. New England had increased from 75,000 to 425,000; New York , from 20,000 to 85,000; New Jersey , Pennsylvania , Delaware and Maryland , from 47,000 to 372,000; Virginia , from 50,000 to 168,000; and the Carolinas and Georgia , from 8,000 to 135,000. The assertion of a letter of an "American Farmer" was almost literally true when he wrote: "We are all tillers of the earth from Nova Scotia to West Florida . We are a people of cultivation, scattered over an immense territory; communicating with each other by means of good roads and navigable rivers; united by the silken bands of mild government; all respecting the laws, without dreading their power because they are equitable."
    1829- Bavarian immigrant Levi Strauss was born this day in 1829. He created the world's first pair of jeans—Levi's 501 jeans—for California 's gold miners. They were made of sail canvas and rivets were used along with sail making thread. He dyed them blue to hide the marks from the riveting apparatus, plus to make them appear more attractive. The pants style is still popular today, but now in “designer” styles from full boot to slim leg and more.
    1846- George C. Stebbins, American Baptist music evangelist, birthday. A composer of over 1,500 songs during his lifetime, Stebbins is still remembered today for writing the melodies to such hymns as: "I've Found a Friend," "Take Time to Be Holy," "Have Thine Own Way, Lord" and "Jesus is Tenderly Calling Thee Home."
    1846- William F. “Buffalo Bill” Cody birthday at Scott County, Iowa. He claimed to have killed more than 4,000 buffaloes. Subject of many heroic Wild West yarns. Cody became successful as a showman taking his acts across the US and to Europe .
    1870- the first pneumatic subway invented by Alfred Ely Beach , known first as the Beacg Pneumatic Underground Railway, was opened to the public in New York City . It consisted of a circular tube nine feet in diameter and the cars, which were well upholstered, carried 222 person s each way. They were propelled by a rotary blower that drove a blast of air through the tunnel against the rear of the car, carrying it along “ like a sailboat before the wind.”
    1870 -- Wyatt Outlaw, black leader of Union League in North Carolina , is lynched. Wyatt Outlaw, the Negro police officer who had fired upon the Klansmen at their first appearance in the county, was head of the Union League, an anti-Ku Klux Group in the County. His death had been determined by certain members of one of the Klan orders. A party of them rode into Graham on the night of February 26, 1870, seized Outlaw in his home, and carried him to a tree in the courthouse square. There they hanged him, leaving on his breast the inscription: "Beware, ye guilty, both black and white.” Many blacks were killed by the Klan, and Black homes and property burned/destroyed for the next sixty-five years, into the late 1920's.
    1873--By the year the American bison, also called the buffalo, was almost extinct, even though at the start of the nine­teenth century estimates placed the North American bison population as high as 60,000,000. Bison were essential to the way of life of the Indians of the Great Plains , who depended on them for food, clothing, and shelter. The symbiotic relationship of the Indians and the bison threatened neither group. However, with the coming of the railroad, professional buffalo hunters, and the settlement of the West, the situation changed. Bison were slaughtered far beyond any' need for food or hides. Although in 1865 about 10,000,000 bison still roamed the plains, by 1890 only 1000 or so were left.
    1887- Grover Cleveland “Pete” Alexander, Baseball Hall of Fame pitcher born at Elba, NE. Alexander won 373 games ( tied for 3rd on all time list) pitching for 20 years with the Philadelphia Phillies, Chicago Cubs and the St. Louis Cardinals. he won 30 or more games three times and won the National League earned run average title five times. In Game Seven of the 1926 World Series with St. Louis ahead, 3-2, he staggered in from the bullpen to strike out the New York Yankees' Tony Lazzeri with the bases loaded and held New York at bay for the last two innings. Ronald Reagan played Alexander in the moving, The Winning Team. Inducted into the Hal of Fame in 1938. Diet at St. Paul , NE , Nov 4.1950.
    1905-violinist/producer Bill Russell born, Canton , MO
    1907 - The United States Congress raised their pay to $7500, for both House and Senate members. The Cabinet members and the Vice President earned twelve thousand. At that time, the Vice President was paid enough to buy half a dozen houses. The richest man in the world, John D. Rockefeller's oil fortune was, at that time, worth no more than $300 million.
    1910 - Parts of Washington State were in the midst of a storm which produced 129 inches of snow at Laconia between the 24th and the 26th, a single storm record for the state. A series of storms, which began on the 23rd, led to a deadly avalanche on the first of March. By late on the 28th, the snow had changed to rain, setting the stage for disaster.
    1916- American musician, comedian and actor, Herbert John "Jackie" Gleason was born at Brooklyn , NY . Best known for his role as Ralph Kramden in the long-running television series "The Honeymooners." Died at Fort Lauderdale , FL , June 24, 1987.
    1917- first jazz record of history: Original Dixieland Jass Band cuts “Livery Stable Blues, “ One Step, “ NYC
    1919- Grand Canyon National Park was established, by an act of Congress, An immense gorge cut through the high plateaus of northwest Arizona by the raging Colorado River and covering 1,218,375 acres, Grand Canyon National Park is considered one of the most spectacular natural phenomena in the worlD.
    1919 -the Lafayette National Park was established, later renamed in 1929, the Acadia National Park , the largest East of the Mississippi
    1925 – Alto Sax player James Moody Birthday
    1926-First Black middle-weight boxing champion, Theodore "Georgia Deacon" Flowers. Also known as “Tiger” Flowers. He beats Harry Greb in New York , NY to win the title “ -Middleweight Championship of the World>”
    1929- Antoine (Fats) Domino birthday, the New Orleans r'n'b pianist who has sold more than 65-million records, was born in the Louisiana city. He is the biggest-selling '50s rock 'n' roll artist, with the exception of Elvis Presley. By the time he joined trumpeter Dave Bartholomew's band in the 1940's, he had already mastered the classic New Orleans piano style of such performers as Professor Longhair and Amos Milburn. In 1949, Fats Domino had his first million-seller, "The Fat Man." But it wasn't until 1955, with "Ain't That a Shame," that he attracted the white record- buying public. Domino eventually collected 23 gold singles, for such hits as "I'm In Love Again," "Blueberry Hill" and "I'm Walkin'."
    1930 - Seven years after Garrett A. Morgan invented traffic lights, the first red and green signal lights were installed on New York 's Manhattan street corners.
    1932- country singer Johnny Cash was born in Kingsdale , Arkansas . In 1954, Cash met guitar player Luther Perkins and bass player Marshall Grant. As Johnny Cash and the Tennessee Two, they sold a million copies of "I Walk the Line" on the Sun label in 1956. Cash signed with Columbia in 1958, and two years later drummer W.S. Holland was added to make the Tennessee Three. Cash's string of hits for Columbia have included "Ring of Fire," "A Boy Named Sue" and "Folsom Prison Blues." Johnny Cash's records have always been on the border of rock, and have often crossed over to the pop charts. The marching bass lines which characterize many of Cash's songs influenced the work of Waylon Jennings and others in the outlaw country movement of the 1970's. In 1994, Cash's career was revived with the release of "American Recordings," an album of just the singer and his guitar. It was embraced by everyone from traditional country fans to alternative rockers.
    1934 - Federal Communications Commission was created at the order of President Franklin D. Roosevelt, to oversee communication by radio, wire or cable. TV and satellite communication later became part of its charge.
    1935—Babe Ruth, Babe Ruth signed a three –year contract with the Boston Braves , after being released by the New York Yankees. He played in only 28 games before retiring in May.
    1936- Wallace “Buddy” Werner, skier born at Steamboat Springs, CO. Werner skied on three US Olympic teams and was the first American to break into the sport's top rank by winning important races in Europe . While filming a ski movie, he was overtaken by an avalanche that he attempted to outrace. Died at St. Moritz , Switzerland , April 13, 1964.
    1937- Canadian composer, arranger and vibraphonist Hagood Hardy was born in Angola , Indiana . He grew up in Oakville , Ontario and from 1957 to 1961, while studying at the University of Toronto , he had his own jazz group. From 1961 to '67, he performed in the US with such musicians as Gigi Gryce, Herbie Mann, Martin Denny and George Shearing. Hardy returned to Canada in the late '60s, becoming a leading composer of radio and TV jingles. In 1975, his single "The Homecoming," written three years earlier as a Salada Tea commercial, became an international hit. The song won Hardy Juno Awards as best composer and best instrumentalist, and Billboard magazine named him instrumentalist of the year. Hardy died of cancer in Hamilton on January 1st, 1997.
    1942 - The Academy Awards were presented, for movies that were shown in theatres during 1941. "How Green Was My Valley" won the award for Best Picture. The star of "Sergeant York", Gary Cooper, took home the Oscar for Best Actor and The Best Actress statue was presented to Joan Fontaine for her performance in "Suspicion". "How Green Was My Valley" garnered Oscars for Best Supporting Actor, Donald Crisp and Best Director, John Ford. Mary Astor was voted Best Supporting Actress for her role in "The Great Lie".
    1943-guitarist/harmonica player Bob “the Bear” Hite, born
Torrance , CA Died April 5, 1981. Canned Heat lead singer.
    1944- Sue Sophia Dauser, superintendent of the US Navy's Nurse Corp, was the first woman to receive the rank of Captain. On December 14, 1945, she became the first Navy nurse to receive the Distinguished Service Medal. 1942 - The Academy Awards were presented, for movies that were shown in theatres during 1941. "How Green Was My Valley" won the award for Best Picture. The star of "Sergeant York", Gary Cooper, took home the Oscar for Best Actor and The Best Actress statue was presented to Joan Fontaine for her performance in "Suspicion". "How Green Was My Valley" garnered Oscars for Best Supporting Actor, Donald Crisp and Best Director, John Ford. Mary Astor was voted Best Supporting Actress for her role in "The Great Lie".
    1945—Top Hits
Accentuate the Positive - Bing Crosby & The Andrews Sisters
I Dream of You - The Tommy Dorsey Orchestra (vocal: Freddy Stewart)
Don't Fence Me In - Bing Crosby & The Andrews Sisters
I'm Losing My Mind Over You - Al Dexter
    1945- Wood Herman cuts “Caldonia.”
    1947-harmonica player Paul Oscher born, Brooklyn , N
    1951 - James Jones' novel, ‘From Here to Eternity,' about military life in Hawaii just before the bombing of Pearl Harbor, was published in New York by Scribners.

    1953—Top Hits
Don't Let the Stars Get in Your Eyes - Perry Como
Till I Waltz Again with You - Teresa Brewer
Keep It a Secret - Jo Stafford
Kaw-Liga - Hank Williams
    1954 - Singer/songwriter Michael Bolton (Michael Bolotin) is born in New Haven, Conn.
    1955-Billboard reports for the first time since their introduction in 1949, 45 rpm discs are outselling the old standard 78. Another change in the industry is also noted. On some New York City jukeboxes, it now costs ten cents instead of five cents to play a record.
    1956--Buddy Holly's first recording session for Decca is held in Nashville.
    1957--Singer/guitar player Eddie Van Halen birthday, born Holland.
    1960-- David Jenkins of the US won the gold medal men's figure skiing at the VIIth Winter Olympics at Squaw Valley, Ca.
    1961 - No. 1 Billboard Pop Hit: ``Pony Time,'' Chubby Checker. A version of the song by the Goodtimers entered the chart the same week as Checker's version, but only reached No. 60.
    1961—Top Hits
Pony Time - Chubby Checker
There's a Moon Out Tonight - The Capris
Surrender - Elvis Presley
North to Alaska - Johnny Horton
    1962 - In New York City , the Best Play award winner of 1962, "Oh Dad, Poor Dad, Mama's Hung You in the Closet and I'm Feeling So Sad" opened for 454 performances.
    1965-Nineten year-old Jimmie Lee Jackson was killed by state troopers at a voting rights demonstration in Marion , Alabama . As a result, the Selma-to-Montgomery march was organized and took place a month later -- when Dr. King led 20,000 marchers 50 miles east from the Edmund Pettus Bridge in Selma , Alabama , to the state capitol in Montgomery . Five months later, President Johnson signed the Voting Rights Act, and by year's end, more than 250,000 new black voters were registered
    1969—Top Hits
Everyday People - Sly & The Family Stone
Build Me Up Buttercup - The Foundations
Can I Change My Mind - Tyrone Davis
Until My Dreams Come True - Jack Greene
    1969 -the "100 hour snowstorm" was in full swing across the Boston area and the rest of New England as well. By the time snow ended on the 28th, Boston recorded 26.3 inches of new snow. Pinkham Notch, New Hampshire was buried under and incredible 77 inches and Long Falls Dam, Maine reported 56 inches. Both Portsmouth, New Hampshire and Portland, Maine set new single storm snowfall records with 33.8 inches and 26.9 inches, respectively. Rockport, Massachusetts measured an impressive 39 inches.
      1972 - Harry Nilsson began week #2 at number one with "Without You"; a love song that spent four weeks at the top spot.
    1972 -the "Buffalo Creek Disaster" occurred in the Buffalo Creek Hollow of Logan County in West Virginia. A coal slag dam on the middle fork of Buffalo Creek burst sending a 50 foot wall of water down a narrow valley killing 125 people and causing 51 million dollars damage. 3 days of rain atop 6 inches of snow cover prompted the dam break.
    1973-Football player and golfer, Marshall Faulk, born New Orleans, LA.
1975 - No. 1 Billboard Pop Hit: ``Best of My Love,'' Eagles. The song is the group's first No. 1 hit.
    1977—Top Hits
New Kid in Town - Eagles
Love Theme from "A Star is Born" (Evergreen) - Barbra Streisand
Fly like an Eagle - Steve Miller
Say You'll Stay Until Tomorrow - Tom Jones
    1979 - The sitcom, "Flatbush", first aired on CBS-TV, featuring the exploits of five, recent, high-school graduates living in a middle-class, Italian neighborhood in Brooklyn New York's Flatbush area. *(Joseph Cali/costar) Presto Prestopopulos, taxi driver and one of five street youths recently graduated from high school who lived in the middle-class Italian neighborhood of Flatbush (Brooklyn). Calling themselves the Flatbush Fungos, the gang also included Adrian Zmed as Socks Palmero, a clothing store employee; Sandy Helberg as Figgy Figueroa, a grocery deliveryman; Randy Stumpf as Joey Dee, a plumber's assistant; and Vincent Bufano as Turtle Romero, a restaurant worker. Also featured were Helen Verbit as Mrs. Fortunato, the neighborhood busybody; and Anthony Ponzini as Esposito, a pool hall owner. The ethnic stereotypes the show portrayed offended Brooklyn's Borough president, who demanded the series be taken off the air before it gave Brooklyn a bad name. In 1979, Brooklyn was known as the garden spot of the United States. CBS cancelled the show after 3 episodes.
      1983 - Charley Pride's "Why Baby Why", written by George Jones and Darrell Edwards, topped the country music charts. Jones found national fame in the United States with his own version of the song in 1955.
    1983 - Michael Jackson's "Thriller" hit #1 in the U.S. The album spent a total of 37 weeks at number one. The tracks: "Wanna Be Startin' Somethin'", "Baby Be Mine", "The Girl is Mine" (w/Paul McCartney), "Thriller", "Beat It", "Billie Jean", "Human Nature", "P.Y.T. (Pretty Young Thing)", "The Lady in My Life". At last count (2001), "Thriller" was certified for sales of more than 26 million copies by the Recording Industry Association of America, and was in a tie with the Eagles' "Their Greatest Hits 1971-1974" as the best-selling album of all time.
    1984 - The last United States Marines in the multinational peacekeeping force in Lebanon left Beirut.
    1985 - Tina Turner wins Grammys for ``What's Love Got to Do with It'' and ``Better Be Good to Me.''
    1985—Top Hits
Careless Whisper - Wham! featuring George Michael
Loverboy - Billy Ocean
Can't Fight This Feeling - REO Speedwagon
Baby's Got Her Blue Jeans On - Mel McDaniel
    1985 - Tonight was the night of the seventh highest-rated television music show of the 1980s, when a 23.8 share of the viewers watched "The Grammy Awards". The Best Pop Vocal Performance by a Male award was given to Phil Collins for, "Against All Odds (Take a Look at Me Now)"; Best New Artist for 1984 went to Cindi Lauper, and Best Album of the year award went to Lionel Richie for "Can't Slow Down". Tina Turner was a big winner, taking Best Song, Best Record and Best Pop Vocal Performance by a Female for "What's Love Got to Do with It".
    1986- Robert Penn Warren, the first official poet laureate of the United ,was named by the librarian of Congress, and great historian, Daniel J. Boorstin. Warren was born in Guthrie, KY, in 1905 and won three Pulitzer Prizes, two for volumes of Poetry, and one for his 1946 novel, All the King's Men.
    1987-The Tower Commission report on the Iran-Contra affair was critical of Pres. Reagan for failing to understand or control the secret attempt to trade arms to Iran for the release of American hostages being held in Lebanon and divert profits from the sale to the Nicaraguan Contras. The commission appointed by the President in Nov. 1986, said Reagan must take responsibility for the policy, which ended in “chaos” and caused the U.S. much embarrassment abroad. Blame was placed also on Donald T. Regan, the White House chief of staff, whom the president replaced with former Senator Howard H. Baker, Jr., on February 27. It also faulted former National Security Advisor Robert McFarlane & his successor Admiral John Poindexter, and CIA Director William Casey. Casey had resigned on 2 February for health reasons; McFarlane attempted suicide on 9 February; and Regan resigned 27 February. In a television address on March 4, the president said he too “ full responsibility, “ but he did not admitting that the plan for dealing with Iran was basically wrong.
    1988 - Eight cities in the central and western U.S. reported new record high temperatures for the date, including Lamoni IA with a reading of 67 degrees. Temperatures in North Dakota were as warm as those in Florida.
    1989 - An upper level weather disturbance brought snow to parts of the central U.S. which just one day earlier were enjoying temperatures in the 60s. Snowfall totals in Missouri ranged up to nine inches at Rolla.
    1990 - Unseasonably cold weather followed in the wake of the winter storm in the northeastern U.S. Ten cities reported record low temperatures for the date, including Syracuse NY with a reading of 10 degrees below zero. Freezing temperatures in southeastern Virginia caused considerable damage to plants and fruit trees. The barometric pressure reading of 30.88 inches at Wilmington NC was February record for that location.
    1991 - "Rockline on MTV" premiered with host, Martha Quinn, giving viewers a chance to talk to the stars. The first guest was MC Hammer.
    1991- Tim Berners-Lee introduces the Web browser:
Tim Berners-Lee presented an early version of a Web browser to a work group at CERN, the European Particle Physics Laboratory in Geneva, Switzerland, on this day in 1991. He conceived the Web as a way for physicists at different universities around the world to instantaneously share information. Throughout the next year, he modified the architecture, released early Web browsers on the Internet, and solicited feedback and input from Internet programmers. By late 1991 and early 1992, the Web was widely discussed, and in early 1993, when Marc Andreessen released his Mosaic browser (Netscape's precursor), the Web rapidly became a popular communications medium.
    1993-World Trade Center Bombing: A 1,210-lb bomb packed in a van exploded in the underground parking garage of the World Trade Center in New York City, killing six people and injuring more than 1,000 (mostly from smoke inhalation). The powerful blast left a crater 200 feet wide and several stories deep. The cost for damage to the building and disruption of business for the 350 companies with offices in the Center exceeded more than $591 million. Fifteen people--the fundamentalist Moslem cleric Sheik Omar Abdul Rahman and fourteen of his followers--were indicted for the bombing. Rahman was given a life sentence and the others received prison terms of up to 240 years each. This is considered the first bombing of the United States by foreign terrorists.
    1997- Celine Dion won two Grammy Awards for "Falling Into You" - album of the year and best pop album. At the time, "Falling Into You" had sold more than 21 million copies worldwide.



Winter Poem

Walking Alone in Late Winter

by Jane Kenyon

How long the winter has lasted -- like a Mahler
symphony, or an hour in the dentist's chair.
In the fields the grasses are matted
and gray, making me think of June, when hay
and vetch burgeon in the heat, and warm rain
swells the globed buds of the peony.

Ice on the pond breaks into huge planes. One
sticks like a barge gone awry at the neck
of the bridge. . . . The reeds
and shrubby brush along the shore
gleam with ice that shatters when the breeze
moves them. From beyond the bog
the sound of water rushing over trees
felled by the zealous beavers,
who bring them crashing down. . . . Sometimes
it seems they do it just for fun.

Those days of anger and remorse
come back to me; you fidgeting with your ring,
sliding it off, then jabbing it on again.

The wind is keen coming over the ice;
it carries the sound of breaking glass.
And the sun, bright but not warm,
has gone behind the hill. Chill, or the fear
of chill, sends me hurrying home.




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