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Commercial Sales Associate

Looking for Sales Associate with a following.  Your area of expertise should be with any titled rolling stock;  New or Used Ambulances, Trucks, Street Sweepers,Tow Trucks, Buses,  any commercial vehicle.  National Scope.  Hi Commission with benefits. 

Curt Webster, CVLE  516 922-7447

We are an independent automobile, truck, and commercial equipment leasing company with over 36 years serving the best customers in the United States.

February 2, 2009

Photo date: 1967 "Smothers Brothers Comedy Hour, The" Tom & Dick Smothers 1967
CBS Photo by Gunther - © 1978 Gunther - Image courtesy

Comedian, folksinger, winemaker Thomas Bolin “Tom” Smothers III born February 2, 1937 New York City, New York. He was a competitive unicyclist, and a state champion gymnast in the parallel bars at North Hollywood High School, Hollywood, CA. Smothers later attended San José State University, where he became a folksinger with his brother and they developed a "comedy" relationship that made them very popular. They have appeared on many TV shows, hosting their own controversial in its day "The Smothers Brothers Show" .... Tom Smothers (32 episodes, 1965-1966) "The New Steve Allen Show" (6 episodes, 1961). He and his brothers are also serious winemakers.
Concert Dates:


Congratulations! Pittsburg Steelers
    List: Leasing Companies Out of Broker Business
        Classified Ads---Controller
Readers respond to Marlin closing down Broker Division
    Paul Menzel, CLP Memo to “FinPac” Clients
        Classified Ads----Help Wanted
Leasing 102 by Mr. Terry Winders, CLP
“What is a Lease?”
    Leasing News Top Stories---January 26-30
        Vehicle sales continue downward Spiral
Bank Beat---What’s Happening Across America
    State Bank of Long Island $4.1 Million loss
        MB Financial Leasing Numbers
Tennessee Commerce Bank to bundle Lease Portfolios
    Classified ads—Back Office
ELFA Bentsen says US poised for a "severe and deep recession"
    AP Investigation: Banks sought foreign workers
        States consider mileage tax
News Briefs---
    You May have Missed---
        Sports Briefs---
"Gimme that Wine"
    Today's Top Event in History
        This Day in American History
Daily Puzzle
        Weather, USA or specific area
            Traffic Live----

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

(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)


Congratulations! Pittsburg Steelers

Santonio Holms, MVP



List: Leasing Companies Out of Broker Business

Here is a list of leasing companies who have exited accepting broker business. A few have gone out of business ( such as C&J, Creative Capital) or several sold ( LaSalle, LEAF Third Party, PFF Bancorp) or
departments closed or stopped working with brokers, such as CIT and GE Capital; all are no longer working with brokers, according to statements received by Leasing News:

Balboa Capital, Irvine, Ca
Bankers Healthcare Group, Weston, FL.
C and J Leasing Corp, Des Moines, Iowa
CIT Group (limited)
Columbia Bank Leasing, Tacoma, WA
Creative Capital Leasing Group , LLC, San Diego , CA
Diversified Financial Service , Omaha , NE
First Republic Bank , San Francisco , Ca
GE Capital , Conn (limited)
Global Funding LLC., Clearwater, FL
Heritage Pacific Leasing, Fresno, CA
Huntington Equipment Finance, Vendor Finance Group,
Bellevue, Washington
Irwin Financial (not in the U.S.)
Lakeland Bank, Montville , NJ
LaSalle Systems Leasing
LEAF Third Party Funding, Santa Barbara, Ca.
Marlin Leasing, Mount Laurel, NJ
M&T Credit (Bank)
Merrill Lynch Financial
National City, Cleveland, Ohio
Pentech Financial, Campbell, CA
PFF Bancorp, Inc, Pomona, CA
Pinnacle Business Finance, Fife, Washington
Popular Finance, St. Louis, Missouri
Radiance-Capital, Tacoma, WA
Sandy Springs, Olney, MD
SunBridge Capital, Mission, Kansas
Textron Financial
Velocity Financial Group, Rosemont, Illinois
Wachovia Bank Leasing
Washington Mutual Financial

Their story has appeared in Leasing News. You can
go to "search" (
---if you don't find it right away, change to "sort by date.")

For brief history, please go to:



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.

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

To place a free “job wanted” Leasing News ad:

ELFA Career Center: Job Seekers (free):

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Scott Wheeler.)



Readers respond to Marlin closing down Broker Division

by Kit Menkin

There were many telephone calls on Thursday about Marlin Business Services closing their broker division, but perhaps more on Friday, including a lot of email. While there are too many to share all
of them, plus that was not the purpose of the communications, here are a few key ones with the senders name left out as permission to reprint them was not obtained:

"It’s funny the way companies operate under the shroud of secrecy.

"I called my Marlin rep just 4 days ago and was told things were fine and proceeding like normal.

"I’d venture my rep was unaware (or in denial), but I wish companies that are considering dropping a business line would at least alert the brokers that 'changes are a’coming.'

(Actually, Marlin was forthright in telephoning those they could, also sending a letter to all, explaining their decision; more importantly "Marlin will honor outstanding approvals (subject to the terms and conditions set forth in such approvals) and respond to outstanding applications."

(Ed Siciliano, Senior Vice President Chief Sales Officer, did an outstanding job and should be congratulated as well as Marlin management for this tough assignment. Recently there have been
other companies who without any notice just stop: not funding deals in progress, or applications in progress, and worse yet, not returning telephone calls. Companies like Marlin, Pentech, and Pioneer should be commended for being straight as they possibly can be with their clients.)


"Is Marlin still going to honor their broker contracts concerning contacting our clients and brokers? My contract goes back to the origination of the company. Basically, the contract is a non-compete. I would like my complete customer and vendor list returned to me."

(I don't understand about a customer and vendor list. You should have your own list by source for follow-up, marketing, and also accounting purposes. Time will tell what Marlin does as I can assure you Leasing News will learn about it and report it to you and other readers. You also will find customers and vendors being contacted at random, not through a list, but being open to whoever contacts them. I don’t think it is particular for a leasing company to have a “do not call” list, especially if it is six months or one year from now.)

(As to protecting sources, the only company I know who does this after you leave is US Bancorp Manifest. They have a hard insurance policy. I can tell you from the many emails we have received over the years about other companies who have gotten out of the broker business or cut off brokers. Most of them turn over the company records on customers and vendors to direct sales. One did it the same day they told brokers no more business--you all know who that is so don't get burned up about it.

(In reality, you have to continue to "earn" your customer and vendor by being in contact them by telephone, email, birthday and other congratulations cards, plus offering them service to answer questions about any lease payment questions or problems. Linda Kester talks about this at all her workshops, " No one can steal your customer, if he is 'your' customer." )


"What happens to leases that I wrote with $1.00 Buy-Rates and have a separate addendum to collect a 10% or FMV residual. Are they required to send any type of payoff notification. I would also like a list of my existing customer base leased though Marlin. The NAELB is useless in supporting their member in this time of crisis. Are they required by their own broker contracts to honor and protect the brokers."

(First, you should have an overall letter from each provider about the residual, and then a letter with each transaction as Bank of the West, Financial Pacific, and many others provide. If the lease is sold off or other changes take place, you have the letter which you can take to the party regarding the residual. It is also best to do these 90 days before the due date, as well as by being in contact with the lessee by your business retention plan, to learn if they want to pay the lease off early or are selling their company.

(Don't rely on the provider to keep you informed; that's not their job. If it is "your" customer, stay on top of what is happening so you can take care of any problem before it happens, not after it happened. NAELB or any association is never useless. If you belong, your information about a company or experience with a company or person is very valuable. While an association can take action against one of their members, your spreading the word about an experience with a company is very powerful if you belong and participate in an association.)


"Brokers don't approve credit, Marlin does. To keep blaming the brokers is nothing but an excuse to close that part of the company since they already have a vendor base of broker business.

"I have been in this business for 17 years and the same people go from company to company and at times, idolized by Leasing News, surface with new lenders and repeat the same mistakes and mis-management they have done with their other companies. You can down the list of companies having problems, that have all the old faces running these companies. It's not the brokers, it's the management at these companies. If brokers were approving and underwriting the transaction, then blame us."

(First, I have been hearing from many funding sources, and others, the poor credits and tough deals they are receiving. It seems the very good credits have more to lose, so they are holding off. I think the criticism comes as the brokers are not getting the better credits they had gotten in the past, and may be appearing too desperate to get the deals approved. Those providing the money expect the broker to bring all the information to the table, not hide anything, and do the best job in presenting the credit and situation. The broker with the most experience in understanding the company, the management of the company, the geography, the vendor's honesty and ability to back up warranty problems, and to perform as much due diligence, will always be valuable. In the old days, when a salesman first joined CIT (and as Paul Menzel, CLP talks about at Puritan), you worked collections. The idea was to make you smarter as a salesperson. Just because you didn't make the final decision to accept the transaction does not make you NOT part of the problem if there is a default.)


"It seems like they are dropping like flies. We won't have many funders left for the Las Vegas conference. I am worried about attendance."

(There has never been a greater need to learn who is funding, who is not, to personally talk with your network and friends, and learn what is being done to attract good business in today's economy. Those who are waiting for the telephone to ring or spinning wheels and say they are "too busy," get thee to a leasing conference!!!)


"Jeez Kit -

"Maybe you should publish a composite "scoreboard" for us on a regular basis: Who's funding; Who's accepting business; Who's Not !

"Just kidding. It would probably take a fulltime person to track it."

((First, let me plug "Monitor Magazine." If you belong to a leasing association, you may get on the Monitor Magazine mailing list. You can also purchase a subscription for the print edition. The reason you want the printed edition is not just for the articles, which are excellent, well-written, worth your time to read, but for the advertisements. Here you get the ads of what companies are looking for and what they have to offer, plus who to call. You also know how serious they are by the size of their ad; the bigger, the more serious they are. There also is the classified and a section on movement in the industry. ))

(( ))

(You also want the Monitor 100. Even if there are changes, the information and the basic, plus the studies, is well worth the price. If you subscribe to the Monitor Magazine, you get it along with the magazine for free. You can also purchase it direct:

(( ))

Finally, Leasing News does try to keep a current record of who is doing what and where. Its main purpose is to allow readers to find out more information by contacting someone or going to the web site to learn more.

Story Credits--those that do story credit transactions
Funder List A---those who have provided information
Funder List B---those who did not provide information

There are broker/lessors who provide funding, but have not made the "Funder List"
Broker A--more information
Broker B--less information
(note: The lists are kept up to date by those listed providing information.)


All Lists (includes both alphabetical and chronological):



Paul Menzel, CLP Memo to “FinPac” Clients

Paul Menzel, CLP, President, Financial Pacific Leasing
(photo: Leasing News Archives)

While Allied Capital may be having it’s “Mark to Market” accounting issues, and it appears to be a strong company, the facts are Financial Pacific has its own bank lines, its own sources of funds, and is independent. 2008 was a record year for them with Terey Jennings, CLP, still in charge of sales, and a new President who has much banking and overall operating experience, 2009 should be a banner year.

Here is a memo originally sent to Financial Pacific Clients by Mr. Menzel:

“Now that I have settled into the Pacific Northwest and come to know Financial Pacific Leasing from the inside, I thought it would be appropriate to share with our valued partners some of my findings about FPL and expectations for the coming year. Clearly, the weather, landscape, economy and the financial markets have changed from what I was used to last summer in Santa Barbara. My adjustment to the landscape and weather has been the easiest and most enjoyable. The economy and markets have presented unimaginable challenges for all of us.

“I started in this industry almost right out of college as the economy was struggling to recover from a recession that rivaled what we are experiencing now. In 1975, I answered an ad for Puritan Leasing Company for "Credit & Collections". As you might guess my first training came in collections. It is comforting to look back on my career and realize that was just one cycle dip among many and that it has always been followed by new opportunities. I have enjoyed our industry throughout the ups and downs. I must admit to asking myself at times ‘Are we having fun yet?’

“I feel very fortunate to have made the decision to join FinPac and seek new adventure in the beautiful State of Washington. While we are faced with the critical challenges of risk and treasury management, I am happy to report that Financial Pacific Leasing is weathering the storm successfully. The market knows the FinPac formula and that our discipline is unwavering. This leasing company has a strong, consistent model designed and built over the last 35 years to withstand the challenges inherent in a higher risk lessee. We have always operated more conservatively knowing that a downturn in the economy would affect us more than the average. For this reason we maintain very conservative leverage and loss reserve policies that serve to soften any negative impact. The management of FinPac has been outstanding. I get to ride their coattails.

“Though we are not a public company nor required to release financial information, we can share that our FYE 2008 was profitable, our loss reserve ratios are among the highest in the industry, our portfolio is performing within tolerances, and we continue to enjoy long standing relationships with our banks, who are the strongest names in an otherwise decimated industry.

“While we know 2009 will be challenging for everyone, we look forward to using this period to strengthen our franchise so you can continue to count on us for years to come. We also understand that we wouldn't be successful without your contributions and for that, we thank you.


“Be brave enough to live creatively. The creative is the place where no one else has ever been. You have to leave the city of your comfort and go into the wilderness of your intuition. You cannot get there by bus, only by hard work, risking and by not quite knowing what you are doing. What you discover will be wonderful: yourself. “

Paul J. Menzel, CLP
3455 South 344th Way
Suite 300
Federal Way, WA 98001
Phone: 253-568-6121 or 877-222-8558 x121
FAX: 800-510-0101

Paul is the first recipient of the Leasing News Person of the Year (2005).
He will be presenting the 2008 award to Bob Teichman, CLP,
at the National Association of Equipment Leasing Brokers Las Vegas
Conference Friday, May 1, Business Luncheon Meeting.

The best priced leasing conference in 2009


To Register:



Leasing Industry Help Wanted

Commercial Sales Associate

Looking for Sales Associate with a following.  Your area of expertise should be with any titled rolling stock;  New or Used Ambulances, Trucks, Street Sweepers,Tow Trucks, Buses,  any commercial vehicle.  National Scope.  Hi Commission with benefits. 

Curt Webster, CVLE  516 922-7447

We are an independent automobile, truck, and commercial equipment leasing company with over 36 years serving the best customers in the United States.



Like selling vendor programs and large transactions?
Enjoy international financing programs?
Prefer the advantages of a commission only environment with the security of health and welfare benefits?

CLICK HERE to find out how to have fun again.

Please see our Job Wanted section for possible new employees.



Leasing 102
by Mr. Terry Winders, CLP

“What is a Lease?”

There has been so much emphasis on bargain purchase option leases because of the current economic crisis, the economic stimulus package of last year, and revenue ruling 179, I believe many have forgot the differences between a lease and a loan. The tax rules and the accounting classifications tend to add to the confusion so I thought it might be prudent to review some of the time honored reasons leasing was popular.

Cash… Before credit became so lose, many firms were asked to make down payments on equipment purchases or add additional collateral. Whereas, Leasing not only provided the full equipment cost but also included additional cash items such as freight, set up or instillation, and software. In addition the sales tax was deferred over the life of the lease. This is where the term 100% financing was coined. It represented 100% of the cost of obtaining equipment not just the price of the equipment I believe with the slow return of the economy it appears that the old conservative credit standards will reappear and cash will again be at a premium.

To provide 100% of equipment cost the Lessor needed to understand how the equipment was going to be used and how that use would impact its collateral value over the term of the lease and its residual value. The Lessor must also have knowledge on how and where to remarket it upon termination. The past few years the quantity of financing of equipment under the guise of leasing has caused many lessors’s to pray that the lessee wants the equipment because they are not interested in the residual. A well calculated residual supported the structure of the lease and lowered the payment to reduce the cash cost to the lessee. Residuals were an important part of the leasing business and will become more important in the future.

The advent of the computer age in the seventies allowed companies to review the cost of equipment during its useful life to the firm and these statistics usually pinpointed a time when the down time and repair cost became more expensive than replacing the equipment. In addition technology was moving so fast equipment was becoming obsolete much faster. However the federal income tax depreciation for cost recovery was changed and rarely matched the actual term of use of the equipment. Therefore, equipment expense was greater than depreciation tables allowed. Leasing solved this dilemma by allowing the lessee to expense the rents and creating a term of lease that matched actual use.

We use to provide seasonal payments and irregular payments that matched up the expense to the revenue flow of the lessee so in a small way they could do cost accounting by placing the equipment expense next to the revenue. Currently there is a movement afoot to adjust the accounting rules that may put a lot of emphasis on adjusting the rent to the actual use of the equipment to obtain operating lease treatment. There will be a need to adjust the rent up or down, to a minimum, if the hours or days of use does not match the original assumption of use. A lot of static has risen over our claiming to be in the leasing business without any concern for the over use of the equipment. Most of the rules clearly state that the Lessor must act like an “owner” of the equipment and without provisions that compensates the Lessor for actual use then the transaction functions like a loan.

To make adjustments in the rent requirements we will have to investigate and concern ourselves with a complete understanding of the equipments purpose and how it is going to be used. Then its value over the term needs to be reviewed to see how the use affects that value and supports the adjustment and how often it needs to be programmed into the lease. We will get back to residuals and true leasing.

We use to state that the Lessor took on the job of obsolescence or the pain of remarketing the equipment at termination. However as the independent lessor’s gave way to bank leasing companies and brokers, residuals were left to the captives and they enjoyed a large growth pattern over the last fifteen years. Now with the slowdown in equipment sales captives are losing ground as companies pull in their horns and return to slimmer operations. It will be interesting to see who emerges to set the bar on lease arrangements and programs in the near future. I am sure we will return to “equipment leasing” instead of “equipment finance” but only time will tell.

Mr. Terry Winders, CLP, 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.

Previous #102 Columns:

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)



Leasing News Top Stories---January 26-30

Here are the top ten stories opened by readers:

(1) Marlin Shuts Down Broker Division

(2) The parent of Financial Pacific is in trouble

(3) Chuck Brazier's last day is Friday

(4) Hurray for Key Equipment Finance!!!

(4) Pioneer going the way of IFC Credit/Pentech?

(5) TCF Financial Corporation

(6) Doug Houlahan leaves Allegiant Partners

(7) IFC Credit, Morton Grove, Illinois
Bulletin Board Complaint---Up-Date

(8) GE “new slogan” contest

(9) Oh, No! Mr. Bill!!! 12 Banks/Sixteen Attorneys

(10) Bank Beat--What's Happening across America

Extra, not included for technical reasons:
Great News!! Pioneer/IFC Credit/Financial Pacific



Vehicle sales continue downward Spiral predicts that new vehicle sales in the United States will decline 30.1% for the month of January. Edmunds projects sales declines of 28.1% for Nissan, 24.5% for Toyota and 22.9% for Honda. Edmunds expects that Chrysler LLC’s sales will decline the most, or about 48%, followed by 38% for General Motors Corp. and 29.8% for Ford Motor Co.

Adding to the lack of sales are 10%--25% down leases, shorter terms and financing, as well as customers being afraid to take on new debt. Leasing is the best alternative, if you can qualify. Programs that offer longer terms and less “down” continue to be very popular, especially to those confident in their future.

Last year national sales were down 18%. America has 20,000 car dealerships, and sold almost three million fewer new cars last year than in 2007. Instead of closing deals, more dealerships are closing shop.

Nine-hundred dealerships shuttered last year. By one estimate at least another 1,100 will close this year. The loss of dealerships not only affects all those employed from salesmen to mechanics, but all the services and sales to car dealerships, as well as sales tax income to the cities where the dealers were located. This is quite serious to city's budgets.

In California, the state with the highest number of vehicles, sales were down 23% statewide. Dealers sold 443,570 fewer vehicles last year than the year before. In 2008, 128 new-car dealerships closed in California, compared with only 20 closures in 2007, according to the California New Car Dealers Association.

If you had been on Leasing News mailing list, you would have been able to read this story:

Great News!! Pioneer/IFC Credit/Financial Pacific



Bank Beat---What’s Happening Across America

by Christopher Menkin

The FDIC processed a total of 40 orders in December. These included fifteen cease and desist orders; eight removal and prohibition orders; eleven civil money penalties; one prompt corrective action; and five orders terminating an order to cease and desist.

It should be noted there are over U.S. 171 banks in trouble, according to the FDIC Third Quarter report*, such as Capital Corp of the West.

Capital Corp of the West, Merced, California, who in October, 2007, acquired Bay View Funding, San Mateo, California, once heavy in leasing, direct, and indirect through Steve Chriest's successful Signature Leasing, has notified its investors of "further significant regulatory action," citing "uncertainty" about its "ability to continue as a going concern." "As a result of the deterioration in the economic climate in Central California and the banking industry overall, the Company recorded a net loss of $54,563,000 for the three months ended September 30, 2008." Capital Corp. was heavy into consumer and commercial real estate loans. The Central Valley area was hit early with very high foreclosures and unemployment.

On July 17, 2008, the Company and its subsidiary County Bank entered into a formal agreement (the “Written Agreement”) with the Federal Reserve Bank of San Francisco to address regulatory concerns. Under the Written Agreement, the Company and the Bank agreed to take appropriate steps to improve board oversight and management; strengthen risk management practices; improve credit and loan administration policies and procedures; improve asset quality; maintain an adequate allowance for loan losses; submit a capital plan for achieving and maintaining acceptable capital levels; suspend cash dividends and payments on trust preferred securities without regulatory approval; not incur any new material debt or repurchase or redeem capital stock; submit an earnings plan and budget; submit an acceptable plan for liquidity and cash management; constitute a Compliance Committee to monitor and coordinate compliance with the Written Agreement; and submit progress reports on a regular basis. The Bank also entered into a similar agreement with the California Department of Financial Institutions. While progress has been achieved in many areas, the Company and Bank have not been successful in the most important requirement to raise capital in accordance with the capital plan adopted pursuant to these agreements.

MagnetBank, Salt Lake City, Utah, became the fourth bank failure of the year, and the first the Federal Deposit Insurance Corp. was forced to directly refund depositors after being unable to find another institution willing to take over its operations. The three year old MagnetBank had total assets of $292.9 million as of Dec. 2, and $282.8 million in total deposits. "It is estimated that the bank did not have any uninsured funds," the FDIC said in a statement.

Ocla National Bank, Ocla, Florida, was closed on Friday as one of the three banks to fail. Center State Banks of Florida Inc., agreed to assume Ocala National's $205.2 million in deposits for a premium of 1.7% and agreed to purchase approximately $23.5 million of the failed bank's assets. The FDIC said it will retain the remaining assets for later disposition.

Suburban Federal Savings Bank, founded 1954, Crofton, Maryland, was closed Friday by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.
The cause was mortgage loans. The bank had been trying to find a buyer since November, 2008. Through the first nine months of 2008, Suburban Federal reported losses of $27 million, leaving only about $4 million in its capital reserve -- less than a third of the minimum amount required by regulators. As of Sept. 30, 2008, Suburban FSB had total assets of approximately $360 million and total deposits of $302 million. In addition to assuming Suburban FSB's deposits, Bank of Essex will purchase approximately $348 million in assets at a discount of $45 million. The FDIC will retain the remaining assets for later disposition.

Current List of Failed Banks:

*Third Quarter FDIC Banking Profile Report:



State Bank of Long Island $4.1 Million loss

(This bank sold its “broker division” Studebaker-Worthington to
Main Street National Bank and the division now handles all
Main Street National Bank indirect broker business. editor)

State Bancorp, Inc. (Nasdaq: STBC), parent company of State Bank of Long Island (the "Bank"), reported a net loss of $4.1 million for the fourth quarter of 2008 compared with earnings of $470 thousand a year ago.

Non-accrual loans and leases totaled $16 million loans and leases outstanding at December 31, 2008 versus $6 million leases outstanding at December 31, 2007 and $14 million or 1.3% of loans and leases outstanding at September 30, 2008.

Loans and leases increased by $78 million or 8% to $1.1 billion at December 31, 2008 due to growth of $142 million in the commercial and industrial and commercial mortgage portfolios. It was noted that State Bancorp sold Studebaker-Worthington to Main Street National Bank, Kingwood, Texas in June 2008.

The provision for loan and lease losses was $7.0 million in the fourth quarter of 2008, representing an increase of $5.4 million versus the comparable 2007 period.

"We continue to build our team of highly skilled and experienced lenders and business development officers,' President and CEO Thomas M. O'Brien said. "We have added several new, experienced commercial bankers and eliminated business lines and individual units that produced unacceptable returns or risks. We continue to cultivate an ownership culture built on personal accountability. We also continue to invest in our information technology platform and the appearance of our branch office facilities."

"With so much calamity and uncertainty in the financial services industry, it is not possible to predict economic recovery with any degree of confidence. Like virtually all other investors in the financial services market, our stockholders have suffered. I remain very disappointed by that reality but confident and personally committed to our success."

Full Press Release:



MB Financial Leasing Numbers

MB Financial, Chicago, Illinois reported net income from continuing operations available to common shareholders of $15.4 million for the year ended December 31, 2008 compared to $62.0 million for 2007. They also increased the allowance for loan losses to non-performing loans to 2.31% respectively, as of December 31, 2008, compared to 1.46% for the previous year end.

Lease Financing Net (in thousands)

SEC 8K report



(Tennessee Commerce Bank to bundle Lease Portfolios)

Tennessee Commerce Bank's New Alliance with ICBA Financial Services Will
Benefit Small Businesses Nationwide

FRANKLIN, Tenn.---- Tennessee Commerce Bank today announced a new joint effort in small business equipment financing with ICBA Financial Services, a subsidiary of the Independent Community Bankers of America (ICBA). Tennessee Commerce Bank, a subsidiary of Tennessee Commerce Bancorp, Inc. (NASDAQ:TNCC) and an ICBA member bank, will originate or acquire small business equipment loans and leases for packaging and sale to other ICBA member banks nationwide that are looking for additional loan portfolio growth and/or diversification.

"The U.S. Treasury is encouraging lending to the business community, especially lending to small businesses. Our alliance with ICBA will support this type of lending activity," said Michael R. Sapp, president of Tennessee Commerce Bank. "It will also grow our business bank strategy and expand our small business equipment finance program to other ICBA members."

Sapp stated, "During these times when loan portfolio diversification is so important, we believe that this extension of small business lending can present a quite attractive risk/reward opportunity to other community banks in Tennessee and throughout the United States."

Tennessee Commerce Bank, a ten-year old, $1 billion plus asset bank in Franklin, TN, operates under a business bank strategy. In recent years, it has originated and acquired critical use small business equipment loans and leases for subsequent seasoning, packaging and sale with certain credit enhancements to other financial institutions.

Under the new initiative of Tennessee Commerce Bank and ICBA Financial Services, packages of previously originated small business equipment loans and leases with an existing payment track record and an average remaining term of generally four years or less are offered for sale to ICBA members. Packages are offered at a yield competitive with other small business lenders, especially given the absence of virtually all origination and servicing costs. Tennessee Commerce retains servicing responsibilities.

"Community banks have always been the driving force in financing the growth of small business in the American economy," said Jeff A. Nunn, ICBA Financial Services chairman and president and CEO of Citizens Bank of Claude, Texas. "Lending to small business is something we do every day. This new venture will enable member banks to grow their loan portfolios efficiently with virtually no additional origination or servicing costs."

For more information on the Small Business Equipment Finance initiative, contact Bill Reid at 1-800-786-0223 or

About Tennessee Commerce Bank

Tennessee Commerce Bank is a subsidiary of Tennessee Commerce Bancorp, Inc. (NASDAQ:TNCC). The Bank provides a wide range of banking services and is primarily focused on business accounts. Its corporate and banking offices are located in Franklin, Tennessee, and it has loan production offices in Birmingham, Alabama; Atlanta, Georgia; and Minneapolis, Minnesota. Tennessee Commerce Bancorp's stock is traded on the NASDAQ Global Market under the symbol TNCC. Additional information concerning Tennessee Commerce Bancorp can be accessed at

About ICBA Financial Services

ICBA Financial Services is a subsidiary of the Independent Community Bankers of America (ICBA) and provides a wide range of financial services to ICBA member banks, their customers, employees, and owners. For more information, visit

Source: Tennessee Commerce Bancorp, Inc.

Contact: Tennessee Commerce Bank Doug Rogers, Senior Vice President, 615-599-2274



Classified ads—Back Office

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News Briefs----

ELFA Bentsen says US poised for a "severe and deep recession"

AP Investigation: Banks sought foreign workers

States consider mileage tax

NBC sells out Super Bowl ads for record $206M

Panasonic to post $3.9 billion annual net loss: Yomiuri

Caterpillar Inc. announces more layoffs



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Jackson winery approved

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



Today's Top Event in History

1956- Autherine Lucy becomes the first black student admitted to the University of Alabama after Governor George Wallace who blocked the University's doorway is removed by U.S. marshals.


This Day in American History

    1571 - All eight members of a Jesuit mission in Virginia were murdered by Indians who pretended to be their friends.
    1653 - New Amsterdam, later New York City, was incorporated.
    1848-Treaty of Guadalupe Hildalgo: The war between Mexico and the US formally ended with the signing of the Treaty of Guadalupe Hidalgo, signed in the village for which it was named. The treaty provided for Mexico's cession to the US of the territory that became the states of California, Nevada, Utah, most of Arizona, and parts of New Mexico, Colorado and Wyoming, in exchange for $15 million from the US. In addition, Mexico relinquished all rights to Texas, north of the Rio Grande. The Senate ratified the treaty Mar 10, 1848.
    1876-William Hulbert founded the National League of Professional Baseball Clubs at a meeting in Chicago Original franchisees were granted to Boston, Chicago, Cincinnati, Hartford, Louisville, New York, Philadelphia and St. Louis.
    1886-William R. Benet birthday, American poet and critic. Born at Fort Hamilton, NY; died at New York, NY, May 4, 1950.

    1870-The first Justice of a state supreme court who was African-American was Jonathan Jasper Wright of Beaufort, South Carolina, who served as one of the three members of the court from February 2 to December 1, 1877. He resigned due to a move to oust him by white society. After leaving the Court, Wright moved to Charleston and set up a law practice. He established Claflin College's law department and conducted classes at his office in Charleston. He served a number of years as a Claflin College trustee and was active in the Republican Party. Jonathan Jasper Wright died on February 19, 1885 of tuberculosis.

    1876 -- National Baseball League forms, consisting of Boston, Chicago, Cincinnati, New York, Philadelphia, St. Louis, Louisville and Hartford.
and the right field bleachers go mad with Chicanos and blacks
and Brooklyn beer-drinkers,
"Tito! Sock it to him, sweet Tito!"
and sweet Tito puts his foot in the bucket
and smacks one that don't come back at all,
and flees around the bases
like he's escaping from the United Fruit Company.
As the gringo dollar beats out the pound.
and sweet Tito beats it out like he's beating out usury,
not to mention fascism and anti-Semitism.
and Juan Marichal comes up,
and the Chicano bleachers go loco again...
— excerpt, Lawrence Ferlinghetti, "Baseball Canto"
    1880-The first electric streetlight was installed in Wabash, Indiana. This day the city appropriated $100 to the Brush Electric Light Company of Cleveland, OH, to install a light on the dome of the courthouse. On March 31, four lights, each over 4,000 candlepower, were placed on a staff above the courthouse, and on April 8, a further payment of $1,800 was authorized.
    1892-The first bottle cap with a cork drown was invented in 1892 by William Painter, founder of the Crown Cork and Seal Company, Baltimore, MD, who obtained a patent for the product on this day. It was a simple bit of tin with a corrugated rim or skirt into which was inserted a disc of natural or composition cork. It changed the bottle industry and the popularity of soda drinks.
    1888-Guitarist Louis Keppard birthday, New Orleans, LA.
    1893-The first “close-up” recorded on film, known as “The Sneeze.” One day after Thomas Edison's "Black Maria" studio was completed at West Orange, NJ, a studio cameraman took the first "close-up" in film history. The Record of a Sneeze, starring Edison's assistant Fred P. Ott, was also the first motion picture to receive a copyright (1894).
    1881- Birthday of Anne Bauchens - U.S. film editor, first woman to receive an Academy Award for film editing for her work on North West Mounted Police (1940). She was the sole editor of all 40 of Cecil B. deMille's films from 1918 to 1959. At 75 she reduced 100,000 feet of film to a viewable 12,000 that became the movie The Ten Commandments (1956). She was also nominated for her work on The Greatest Show on Earth, and Cleopatra (1934).
    1895-George ("Papa Bear") Halas, Pro Football Hall of Fame coach and owner, born at Chicago, IL. After playing football at the University of Illinois and baseball with the New York Yankees, Halas helped to found the National Football League and the Chicago Bears in 1920. As coach of the Bears for 40 years, he compiled a record of 324 wins, 151 losses and 31 ties. Charter member of the Hall of Fame, 1963. Died at Chicago, IL, Oct 31, 1983.

    1905-Birthday of Ayn Rand, (Alice Rosenbaum), Russian-born U.S. novelist and screenwriter whose novels on rugged individualism developed a huge cult following. Her first major novel, The Fountainhead (1943) became a movie but it was her second, Atlas Shrugged (1957) that spurred the "objectivism" movement as was summarized as "I swear - by my life and my love of it - that I will never live for the sake of another man, nor ask another man to live for mine." She advocated that rational self-interest should be the basic interest of a person and self-fulfillment the person' moral responsibility. She saw altruism as a political and personal weakness. Her philosophy of objectivism, essentially reversing the traditional Judeo- Christian ethic.

    1907-W.H.Auden birthday, Pulitzer Prize-winning Anglo-American poet was born at York, England. "Some books," he wrote in The Dyer's Hand (1962), "are undeservedly forgotten; none are undeservedly remembered." Died at Vienna, Austria, Sept 28, 1973.

    1914-African-American Ernest E Just, biologist, receives the Spingarn Medal for pioneering research on fertilization and cell division.

A postage stamp in his honor was issued February 1,1966

    1921 - Airmail service opened between New York and San Francisco.
    1922 - Film director William Desmond Taylor was found in his Hollywood, California, bungalow, shot through the heart. His murder involved the most prominent female stars in Hollywood: Mary Pickford, Mabel Normand, and Mary Miles Minter. When detectives investigated Taylor's home, they found many keepsakes, including a photograph of Pickford, a collection of women's underwear with initials and the date of conquest, and perfumed love letters from Minter. While Pickford knew nothing of the killing, her name was linked to the case for months. Normand was the last person to report seeing Taylor alive. The beautiful comedic star told police she dropped by to see Taylor that evening and stayed for two hours, discussing movies and books. It was suspected that she went for more than conversation. Although she was later exonerated, her character was tarnished by the press. Normand never again rose to the stardom she once had, and her latest film, Susanna, was pulled from circulation by Mack Sennett after "Good Housekeeping" magazine pronounced Normand too "adulterated" for the screen. Minter's career, too, was ruined. The young actress had loved Taylor deeply. During his funeral, Minter rushed hysterically to Taylor's open coffin and kissed his corpse. The media had a vindictive heyday with Minter's affair with the director. Taylor's killer was never found.

    1924-Alto/Tenor sax player Edward “Sonny” Stitt born Boston, Mass. Died July 22, 1982 in Washington, D.C.

    1925-Sled Dogs Save Nome. When a diphtheria outbreak was diagnosed in Nome, Alaska ( Popular 1,500) on January 21, the nearest large amount of antitoxin serum was in Anchorage. bitter winter temperatures made air delivery impossible, so a heroic dog sled relay was set up, 300,000 unites of serum were delivered by train to Nenana, Alaska, and on January 27-in temperatures of 40-50 degrees below zero—20 mushers drove scores of dogs on a 674-mile journey to Nome in 127 hours. Togo was the lead dog for the first 350 miles, and Balto was the lead dog on the final 53miles. The frozen serum arrived at 5:30am and once thawed and administered, there were no more diphtheria deaths. Balto became a national hero, and a statue was erected in his honor in New York City's Central Park.

    1926-Birthday of great RandB,Jazz tenor saxophone player Red Prysock, Greensboro,NC. I have one of his first vinyl albums, 1956, Mercury “Rock and Roll,” with a picture of an attractive lady dancing. In those days. Black musicians never had their picture on the album for sale to Caucasians. It is a classic example and a fantastic album.

(super collection of the RandB tenor saxophone players of this era, as your remember there was no “big band” music in the early 1950's and groups like Johnny Otis and Big Jay McNeely, along with Red Prysock were “it.” The RandB jazz organ also came into being during this time, and Count Basie had a small group featuring his organ playing (made several records.)
    1927-Great jazz Tenor Saxophone player, one of the “Four Brothers,” Stan Getz birthday, born at Philadelphia, PA. He was one of the first to introduce the cool-jazz style, no vibrato, which became a major movement in the 1950s, and the bossa nova (new wave) style of the 1960s. Getz received 11 Grammy Awards, and was the first jazz musician to win the Grammy Award for Record of the Year (1965) for "The Girl from Ipanema." Died at Malibu, CA, June 6, 1991.

    1928 -- Cynthia Macdonald, American poet born New York City. Her first published volume of poetry, Amputations (1970), drew attention with its startling imagery. She founded the creative writing program at the University of Houston in 1979.
    1931 – Birthday of American poet Judith Viorst.
    1932 - A few weeks after receiving a green light from the House, the Reconstruction Finance Corporation (RFC) opened its doors for business. Initially equipped with $500 million, as well as license to borrow up to $2 billion in tax exempt bonds, the RFC was charged with doling out loans to banks, insurance companies, and other institutions that stood to spark the nation's ravaged economy. Under the charge of President Franklin D. Roosevelt, the RFC became a bulwark of the New Deal. And, when America made its entrance into World War II, the agency helped fund the country's blossoming military industry. However, a government probe in 1951 revealed that the agency was awash in corruption. The revelation signaled the downfall of the RFC: the government quickly set to redistributing the agency’s powers and, by 1957 the RFC was forced into shut its doors.
    1935-The lie detector was first used as evidence in a court of law for consideration by a jury was the Keeler Polygraph, invented by Leonarde Keeler of the Scientific Crime Detection Laboratory, Northwestern University School of Law, Chicago, Il. Keeler conducted a test this day in Portage, WI, and produced graphs of the test in the case of Wisconsin State v. Cecil Loniello and Tony Grignano that was being heard in the Circuit Court of Columbia County, WI. Both defendants were found guilty of assault. Test of a similar nature had been used in minor civil and criminal cases as early as 1924, when blood pressure readings were made with a Tycos sphygmomanometer.
    1936-Baseball Hall of Fame. The five charter members of the brand-new Baseball Hall of Fame at Cooperstown, NY, were announced. Of 226 ballots cast, Ty Cobb was named on 222, Babe Ruth on 215, Honus Wagner on 215, Christy Mathewson on 205 and Walter Johnson on 189. A total of 170 votes were necessary to be elected to the Hall of Fame.
    1937-Birthday of wine maker, and also well-known comedian and folk singer, “Mother liked him best,” Tom Smothers, (brother of Dick Smothers, "The Smothers Brothers Comedy Hour"), born New York, NY. Best known for his plaintive, "Mom always liked you best!" and as the slightly slow-witted (on-stage that is), comical half of the Smothers Brothers, Tom Smothers also has had a sporadic solo career as an actor and performer of children's music. He made his feature film debut sans brother Dick Smothers in Get to Know Your Rabbit (1972). A master at Yo-Yo tricks, Smothers made an instructional video, The Yo-Yo Man, in 1988.

    1937 - Guy Lombardo and his orchestra recorded "Boo Hoo" on Victor Records. It became one of the group's all-time hits.
    1942-guitarist James "Blood" Ulmer born St Matthews SC

    1947-Dream girl Farrah Fawcett birthday, actress, model
("Charlie's Angels," The Burning Bed), born Corpus Christi, TX.,128,5219,00.html

    1944---*DYESS, AQUILLA JAMES Medal of Honor
Rank and organization: Lieutenant Colonel, U.S. Marine Corps Reserve. Born: 11 January 1909, Augusta, Ga. Appointed from: Georgia. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty as Commanding Officer of the 1st Battalion, 24th Marines (Rein), 4th Marine Division, in action against enemy Japanese forces during the assault on Namur Island, Kwajalein Atoll, Marshall Islands, 1 and 2 February 1944. Undaunted by severe fire from automatic Japanese weapons, Lt. Col. Dyess launched a powerful final attack on the second day of the assault, unhesitatingly posting himself between the opposing lines to point out objectives and avenues of approach and personally leading the advancing troops. Alert, and determined to quicken the pace of the offensive against increased enemy fire, he was constantly at the head of advance units, inspiring his men to push forward until the Japanese had been driven back to a small center of resistance and victory assured. While standing on the parapet of an antitank trench directing a group of infantry in a flanking attack against the last enemy position, Lt. Col. Dyess was killed by a burst of enemy machinegun fire. His daring and forceful leadership and his valiant fighting spirit in the face of terrific opposition were in keeping with the highest traditions of the U.S. Naval Service. He gallantly gave his life for his country.
    1949-Golfer Ben Hogan was involved in a near-fatal automobile accident when the car he was driving was hit head-on by a bus. Despite serious injuries, Hogan recovered to win the 1950 US Open, beating Lloyd Mangrum and George Fazlo in a playoff.
    1950-“What's My Line” premieres on TV. This popular game show premiered on CBS and ran for 17 years in prime time. A panel of four celebrities figured out the professions of the contestants and the identities of the mystery guests by asking yes-or-no questions. The first panel consisted of poet Louis Untermeyer, columnist Dorothy Kilgallen, New Jersey Governor Harold Hoffman and psychiatrist Dr. Richard Hoffman. Yankee Phil Rizzuto was the first mystery guest. John Daly hosted.

    1951 -- -35ºF (-37ºC), Greenburg, Indiana (state record until 1994)
    1952 - The only tropical storm of record to hit the U.S. in February moved out of the Gulf of Mexico and across southern Florida. It produced 60 mph winds, and two to four inches of rain.
    1953---Top Hits
Why Don't You Believe Me - Joni James
Don't Let the Stars Get in Your Eyes - Perry Como
Keep It a Secret - Jo Stafford
I'll Never Get Out of This World Alive - Hank Williams
    1953-Birthday of “River of Dream's” girl Christie Brinkley, born Malibu, California. American supermodel whose 20-year contract with Cover Girl (1976–96) was the longest-running contract in the modeling industry. Her image has graced the covers of dozens of magazines, including three Sports Illustrated swimsuit issues. Brinkley's nine-year marriage (1985–94) to singer Billy Joel was highly publicized and they produced a daughter. Her hobby was taking photographs of celebrities, including her husband many singing tours, particularly the visit to the USSR. She appeared in Joel's music videos and in the John Hughes's comedies, National Lampoon's Vacation (1983) and Vegas Vacation (1997) with Chevy Chase . She has two children and in 1996, she married husband number four, architect Peter Cook.
    1954 - President Eisenhower reported the 1952 detonation of 1st Hydrogen bomb. This ushers in the climate of the fear of an atomic attack and the rash of underground shelters being built by homeowners and others.
    1955- Petula Clark's first major hit "Majorca," debuts on the U.K. chart. Although the single is the first of a string of Top Twenty hits in the U.K. and Europe, it will be ten years before Clark gets a hit in the U.S.

    1956- Autherine Lucy becomes the first black student admitted to the University of Alabama after Governor George Wallace who blocked the University's doorway is removed by U.S. marshals.
    1956- Atlantic Records signs the Coasters, and rushes to release their first record, "Down in Mexico," written by new Atlantic writers Leiber and Stoller.

    1956 - A record snowstorm in New Mexico and west Texas began on Ground Hog's Day. The storm produced 15 inches of snow at Roswell NM, and up to 33 inches in the Texas Panhandle
    1956 - A record snowstorm in New Mexico and west Texas began on Ground Hog's Day. The storm produced 15 inches of snow at Roswell NM, and up to 33 inches in the Texas Panhandle.
    1957-- Dale Hawkins records "Susie-Q"
    1957-Fats Domino sings "Blueberry Hill" and "Blue Monday" on Perry Como's television show.
    1959-- The Coasters release "Charlie Brown"
    1959-- Frankie Avalon release "Venus"
    1959-- Jerrie Cobb secretly underwent tests for the aerospace program, often outscoring men such as John Glenn. When other women in the secret project also tested very high, a shocked NASA quickly cancelled the testing and kept (classified?) the results secret. The NASA tests showed women to be as physically, emotionally, and mentally equal to men in space. Later NASA admitted under questioning by Congress that it had no intentions of allowing women into space.
    1959- Buddy Holly, Ritchie Valens and the Big Bopper make their last onstage appearances during the GAC Winter Show tour, at the Surf Ballroom in Clear Lake, Iowa.
    1959-Frankie Avalon's "Venus" is released on Chancellor Records. It will become the teen idol's greatest hit.

    1960-Roland Americo “Buddy” Blancalana, former baseball player, born Larkspur, California.
    1961---Top Hits
Will You Love Me Tomorrow - The Shirelles
Calcutta - Lawrence Welk
Shop Around - The Miracles
North to Alaska - Johnny Horton
    1962-Uelses vaults 16 feet. At the Milrose Games in Madison Square Garden, Marine Corps corporal John Uelses became the first man to pole vault higher than 16 feet, indoors or outdoors. Using a fiberglass pole, Uelses cleared 16 feet, ¼ inches.
    1962 - The first U.S. Air Force plane is lost in South Vietnam. The C-123 aircraft crashed while spraying defoliant on a Viet Cong ambush site. The aircraft was part of Operation Ranch Hand, a technological area-denial technique designed to expose the roads and trails used by the Viet Cong. U.S. personnel dumped an estimated 19 million gallons of defoliating herbicides over 10-20 percent of Vietnam and parts of Laos from 1962 to 1971. Agent Orange--so named from the color of its metal containers--was the most frequently used. The operation succeeded in killing vegetation but not in stopping the Viet Cong. The use of these agents was controversial, both during and after the war, because of questions about long-term ecological impacts and the effect on humans who handled or were sprayed by the chemicals. Beginning in the late 1970s, Vietnam veterans began to cite the herbicides, especially Agent Orange, as the cause of health problems ranging from skin rashes to cancer and birth defects in their children. Similar problems, including an abnormally high incidence of miscarriages and congenital malformations, have been reported among the Vietnamese people who lived in the areas where the defoliate agents were used.
    1963--The Beatles kick off their first countrywide tour of the UK, supporting headliner Helen Shapiro. John, Paul, Ringo and George will split wages of £80 ($225) a week. One year later, Beatlemania comes to America when "I Want to Hold Your Hand" becomes the first of twenty Billboard number one hits for The Beatles. It would stay on top for seven weeks, with world wide sales of fifteen million.
    1964--In response to a storm of controversy, Max Firetag, the publisher of The Kingsmen's hit, "Louie Louie", offers $1,000 to anyone who can find suggestive lyrics in the song. The reward is small change, considering that the disc cost $50 to record and has sold over 1 million copies.
    1967-Hockey player Arthur Irbe born Riga, Lativa, USSR Played for San Jose Sharks ( have a Shark's jersey with his autograph on our office hallway wall.)
    1967---The Beatles record "Sgt. Pepper's Lonely Hearts Club Band"
    1968--*MAXAM, LARRY LEONARD --Medal of Honor
Rank and organization: Corporal, U.S. Marine Corps, Company D, 1st Battalion, 4th Marines, 3d Marine Division (Rein), FMF. place and date: Cam Lo District, Quang Tri province, Republic of Vietnam, 2 February 1968. Entered service at: Los Angeles, Calif. Born: 9 January 1948, Glendale, Calif. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a fire team leader with Company D. The Cam Lo District Headquarters came under extremely heavy rocket, artillery, mortar, and recoilless rifle fire from a numerically superior enemy force, destroying a portion of the defensive perimeter. Cpl. Maxam, observing the enemy massing for an assault into the compound across the remaining defensive wire, instructed his assistant fire team leader to take charge of the fire team, and unhesitatingly proceeded to the weakened section of the perimeter. Completely exposed to the concentrated enemy fire, he sustained multiple fragmentation wounds from exploding grenades as he ran to an abandoned machine gun position. Reaching the emplacement, he grasped the machine gun and commenced to deliver effective fire on the advancing enemy. As the enemy directed maximum firepower against the determined marine, Cpl. Maxam's position received a direct hit from a rocket propelled grenade, knocking him backwards and inflicting severe fragmentation wounds to his face and right eye. Although momentarily stunned and in intense pain, Cpl. Maxam courageously resumed his firing position and subsequently was struck again by small-arms fire. With resolute determination, he gallantly continued to deliver intense machine gun fire, causing the enemy to retreat through the defensive wire to positions of cover. In a desperate attempt to silence his weapon, the North Vietnamese threw hand grenades and directed recoilless rifle fire against him inflicting 2 additional wounds. Too weak to reload his machine gun, Cpl. Maxam fell to a prone position and valiantly continued to deliver effective fire with his rifle. After 11/2 hours, during which he was hit repeatedly by fragments from exploding grenades and concentrated small-arms fire, he succumbed to his wounds, having successfully defended nearly half of the perimeter single-handedly. Cpl. Maxam's aggressive fighting spirit, inspiring valor and selfless devotion to duty reflected great credit upon himself and the Marine Corps and upheld the highest traditions of the U.S. Naval Service. He gallantly gave his life for his country.
    1968--Simon and Garfunkel record "Mrs. Robinson", which will become their second US number one and win a Grammy Award for Record of the Year.
    1969---Top Hits
Crimson and Clover - Tommy James and The Shondells
Everyday People - Sly and The Family Stone
Worst that Could Happen - Brooklyn Bridge
Daddy Sang Bass - Johnny Cash
    1971-The Osmonds, vocal group of five brothers fronted by 13 year old Donny, receives its first gold record for $1 million worth of sales of "One Bad Apple." The song, which many believe is a clear imitation of the Jackson 5, is the Osmonds' debut for Mike Curb's MGM Records.
    1973--The Midnight Special premieres on NBC-TV with Helen Reddy as host. Wolfman Jack would later take over for an eight-and-a-half-year run.
    1973-- Elvis Presley meets boxer Muhammed Ali in Las Vegas, presenting him with a robe emblazoned with the words "The People's Champion." Ali responds by giving Elvis boxing gloves inscribed "You're the greatest" (left) and "To Elvis, my main man, from Muhammad Ali" (right). Ali recollects later: "I felt sorry for him because he didn't enjoy life the way he should. He stayed indoors all the time. I told him he should go out and see people."
    1974-- Barbra Streisand's "The Way We Were" hits #1
    1976-- Elvis Presley records "Bitter They Are, Harder They Fall," "She Thinks I Still Care," "The Last Farewell"
    1977-- Radio Shack officially begins creating the TRS-80 computer

See his jersey at:

    1977---Top Hits
Car Wash - Rose Royce
Dazz - Brick
Hot Line - The Sylvers
Let My Love Be Your Pillow - Ronnie Milsap
    1978--The newly created post of "Mission Specialists" was created by NASA and six women appointed to fill the posts. It marked the first time since the inception of the U.S. space program in 1959 that NASA had recognized women. Janet Guthrie, who would win fame as an Indianapolis 500 racer, was turned down because NASA decided all the women had to have Ph.D. degrees.
    1981-REO Speedwagon, the journeyman band that almost found itself out of deal by the mid-70's, have the biggest album of the year with "Hi-Infidelity," as it goes platinum on this date. It reaches Number One and is there for a total of 14 weeks.

    1985---Top Hits
I Want to Know What Love Is - Foreigner
Easy Lover - Philip Bailey with Phil Collins
Careless Whisper - Wham! featuring George Michael
A Place to Fall Apart - Merle Haggard with Janie Fricke
    1987 - In a "People" magazine poll, readers chose Katharine Hepburn and Cary Grant as their favorite, all-time actors.
    1988 - A dying low pressure system over southern California deluged the San Diego coastal mountains with more than four inches of rain causing half a million dollars damage. Arctic air invading the north central U.S. sent the mercury plunging to 38 degrees below zero at Park Rapids MN. Raleigh NC reported a record high of 75 degrees.
    1989 - Bitter cold air covered much of the central U.S. Butte MT reported a wind chill reading of 91 degrees below zero, Salt Lake City UT was blanketed with 11.9 inches of snow in 24 hours, and winds around Reno NV gusted to 80 mph. Unseasonably warm weather continued in the southeastern U.S. Twenty-eight cities reported record high temperatures for the date, including Wilmington NC with a reading of 80 degrees.
    1989 --- 0ºF (-18ºC) or below in 15 US states.
    1989---Top Hits
Straight Up- Paula Abdul
When I m With You,-Sheriff
Wild Thing- Tone-Loc
Born To Be My Baby- Bon Jovi
    1990 - Thunderstorms developing ahead of a cold front produced severe weather in the Lower Mississippi Valley during the late afternoon and evening hours. One person was injured in a tornado near Reidheimer LA. Thunderstorms northeast of Brandon MS produced hail three inches in diameter along with high winds which downed or snapped off one hundred trees.
    1993-- IRS and Willie Nelson settle on $9 million tax claim of $16.7 million.

    1994---Top Hits
All For Love- Bryan Adams/Rod Stewart/Sting
Hero- Mariah Carey
The Power Of Love- Celine Dion
Breathe Again- Toni Braxton
    1995 - Wearing a scarf that belonged to Amelia Earhart and carrying the pilot's license of early endurance flight champion Bobbi Trout, as well as items belonging to members of the Women Airforce Service Pilots who ferried military aircraft in the U.S. during WWII (and died) and from the women who applied and passed initial tests in NASA's Mercury program in the 1950's but were turned down because of their sex, Lt. Colonel Eileen Collins, 38, lifted off from Cape Canaveral in the co- pilot's seat, as the first woman to pilot an American space craft.
    1997-Student bowls 900 series: Jeremy Sonnefeld, 20, from Sioux Falls, SD, bowled a 900 series, three consecutive perfect games, in a touranment in Omaha, NE. Sonnefeld, a sophomore at the University of Nebraska majoring in business, had the series sanctioned by the American Bowling Congress two days later. Two other bowlers had bowled three consecutive perfect games, but neither met the exacting standards required to qualify as a 900 series. In December 1993 Tony Ockerman bowled his games over two sets of competition. In April 1996 Norm Duke bowled his games in the middle of an eight-game block.

    1999---Top Hits
..Baby One More Time- Britney Spears
Angel Of Mine- Monica
Have you Ever?- Brandy
Nobody s Supposed To Be Here- Deborah Cox
    2003---Top Hits
All I Have- Jennifer Lopez Featuring LL Cool J
Bump, Bump, Bump- B2K and P. Diddy
Beautiful- Christina Aguilera
I'm With You- Avril Lavigne




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