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National Business Development Manager
with minimum seven years experience and
current book of business. Strategically located throughout
US in various targeted industries.
Click Here for more info.

Western Equipment Finance, a subsidiary of Western State Bank
established in 1901, solicits originations throughout the US and
provides funding solutions for a wide range of industries

Monday, January 30, 2012

Today's Equipment Leasing Headlines

Archives January 30, 2009
 Marlin Shuts Down Broker Division
  Classified Ads---Sales
 Arvest Equipment Finance 2011 Double-Digit Growth
  CFG Community Joins Equipment Leasing Fray
   December---The List
    Classified Ads---Help Wanted
     Ten Worst Cities to Find a Job
 Leasing 102 by Mr. Terry Winders, CLP
  Difference between a $1 Purchase Option Lease
   and a Conditional Sales Contract

 Bank Beat--Nine Month $116.1 Million Loss in Tennessee
   Oldest bank in Jacksonville, Florida & Small bank in Minnesota Fail
    Top Stories January 17-January 21
     United Capital to Lend $42 Million to Popeye’s Franchisees in 2012
      Adopt-a-Dog Fort Smith, Arkansas
News Briefs---
Element Financial enters the equipment financing big leagues
  Former Georgia bank CEO consents to ban from industry
Garth Brooks’ courtroom battle splits star’s Oklahoma hometown
  Day of clashes at Occupy Oakland ends with at least 400 arrests

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

 Who Will Win Super Bowl XLVI?    
  You May Have Missed
   Three Questions on Health and Eating
    SparkPeople--Live Healthier and Longer
      Sports Briefs---
        Football Poem
         California Nuts Briefs
           "Gimme that Wine"
       This Day in American History
           Daily Puzzle
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.


Archives January 30, 2009

Marlin Shuts Down Broker Division

The emails started late morning on Thursday that Marlin had closed down their broker division and would only keep the direct division working. Leasing News had reports the company was down to two broker representatives, not getting the quality business it was seeking, and the once performing division has never been the same since Mike Bennie was fired by Executive Vice President, General Counsel & Secretary Corporate Secretary George D. Pelose.*

There were others let go, other changes, exiting factoring, doing loans, vehicles, cutting staff, then a bank, which has enable Marlin to go after TARP, plus the economy changed. As many companies
appear to be doing now, they are cutting back to work their portfolio, in hopes of getting through the tough times with minimum overhead.

One of the readers who informed us of being telephoned to inform them not to send any more business, also sent a copy of an email letter he received:

January 29, 2009


I would like to thank you for your past business with Marlin Leasing and express our appreciation for your patronage. Whether we have completed five business transactions or one hundred, we have valued your business.

Unfortunately, and effective immediately, Marlin Leasing will not be accepting equipment financing applications from the broker community in the near term. Marlin will honor outstanding approvals (subject to the terms and conditions set forth in such approvals) and respond to outstanding applications. However, no new credit applications will be accepted.

Given the current economic environment, this action is a prudent and necessary step for our business. We believe this action is a temporary one, but one which needs to be taken as we navigate through this economic climate.

Please do not hesitate to call your sales professional at Marlin if you need more information.

Thank you for the privilege of your business, and we wish you only the best in your future endeavors.

Ed Siciliano
Senior Vice President Chief Sales Officer

Leasing News was able to receive a statement from Marlin Leasing:

“Thanks for asking for clarification from Marlin’s management regarding our announcement today. If you choose to print my response to your request please do so in its entirety.

“Marlin exited the Broker channel today by informing all of our broker customers in writing of the change. We intend to provide professional service as we honor the backlog and process all open business.

“Our decision was based on the credit quality deterioration that we have been seeing in broker application flow. The risk vs. price relationship simply did not match the attractiveness of our other origination channels. Therefore we are applying former broker sales resources and capital to our direct channels. We sincerely wish the best for the broker community as we all manage through this economic climate.”

Ed Siciliano
SVP & Chief Sales Officer
Marlin Leasing Corporation
300 Fellowship Road
Mount Laurel, NJ 08054
T: 888-479-9111, ext 4105
F: 888-299-6756

Thursday’s stock closing was $3.99.

*Mike Bennie and the Broker Division:



Classified Ads---Sales

(These ads are “free” to those seeking employment or looking
to improve their position)

Aggressive, competitive self-starter with vendor/direct equipment
leasing and asset-based lending experience. Success in business banking sales and financial planning.
Email: | Resume

Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio
Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker. 334-590-5133

Orange County, CA
20+ years in leasing sales & sales management.
Have estab. existing remote office with Lessee /Vender following.
Looking for a partnership w/funding source.

Pittsburgh , PA
Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592

San Francisco Bay Area:
15 year Vendor Program Agreement HUNTER. Currently employed at major IT manufacturer captive supporting direct and channel sales. Must have base, commission and benefit package.

Stuart, FL
Lease professional seeking bank sub, captive or other self-funded lessor. Sales position or other. Mid ticket large territory experience.
15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:




Arvest Equipment Finance 2011 Double-Digit Growth

Arvest Equipment Finance, a division of Arvest Bank, Fort Smith, Arkansas, reported 2011 net assets were up $46 million, or 62 percent, from the previous year for a record $121 million in loans and leases.

New business volume was also up more than $47 million over 2010 to $76 million, or a 160 percent increase.

Kyle W. Gilliam, CLP,
President, Arvest Equipment Finance

"This is a substantial increase over the 2011 industry average where new business volume was up 25 percent, “Kyle W. Gilliam, CLP, President of Arvest Equipment Finance, said.

“Companies were careful during the recession to extend the life of their equipment by making repairs instead of purchasing new products, but after several years of repairs, many businesses simply could not afford to delay replacing old equipment any longer. This replacement cycle helped the substantial increase in business in 2011.”

He also noted that in addition to AEF’s increase in business from the manufacturing and medical sectors, lease financing for county and municipal governments remained strong.

“Multiple industries are looking to conserve their financial resources by seeking out available leasing and financing options.”

Gary DiLillo, President 440.871.0555 or

Comprehensive personal property tax outsourcing services.
Click here to see what our clients say about us.




CFG Community Joins Equipment Leasing Fray

According to the Baltimore Business Journal, CFG Community Bank of Towson, Maryland, formed December 1, 1997 with 90 full time employees in three offices (Annapolis, Towson, Baltimore), " is betting it can wrestle away at least a modest share of the $628 billion industry from industry behemoths like Wells Fargo and Bank of America and manufacturers like John Deere and Caterpillar."
Baltimore Business Journal (PDF)

In November, Daniel McKew joined CFG Community Bank as president after serving as president of 1st Mariner Bank. He previously served as chief executive of SunTrust Equipment Finance & Leasing Corp. in Towson. November 3, 2011, it was announced that CFG Community Bank and its parent company, Capital Funding Bancorp, have agreed to a consent order with state and federal bank regulators to shore up their corporate governance and management review processes. In addition, it was agreed a majority of its board of directors would be independent members. Other stipulations included revising its allowance for loan losses and developing a strategic plan for 2012.

In 2009, Capital Funding bought Towson-based AmericasBank Corp., which had been under intense government supervision after struggling with losses in its mortgage-lending business.

The bank had a $7 million profit the end of 2011 with a net worth of $50.7 million, according to FDIC records. Tier 1 risk-based capital ratio: 15.8%

The Baltimore Business Journal article states three industry veterans were hired to basically cover Maryland, northern Virginia and southern Pennsylvania: Robert Rynarzewski, Arthur Sanchez, James Swalwell.

Robert Rynarzewski was previously vice-president loan officer for SunTrust Equipment Finance & Leasing (2011-2011). University of Maryland BS, Mathematics. Completed accounting classes after BS and passed CPA the first time.

Arthur Sanchez was previously with SunTrust Equipment & Finance.

Jim Swalwell was previously an account executive at CSI Leasing (2009-Junly, 2011), VP National City Commercial Capital (2005-2008), VP Bank of America Leasing & Capital (1996-2004), Manager Syndications, NYNEX Credit Company (1994-1996), Manager AT&T Capital (1992-1993), Vice-_resident, Manufacturers Hanover/The CIT Group Equipment & Project Financing (1983-1985).Eastern Illinois University Bach Bus Adm., Maj - Finance, Finance (1979 – 1983)



December---The List

--- Mergers, Acquisitions & Changes
"The Good, the Bad and the Ugly"-

The count is well over 100, including 25 actual closures not counting acquisitions and merges, or the 75 no longer accepting indirect business, companies getting out of leasing the last three years. As the economy improves, more are becoming interest in leasing. (1)

Element Financial (Toronto, Canada) (12/11) Steve Hudson takes the company public.

Commercial Money Center (CMC), Southern CA. (12/11) Fallout from CMC Continues in Nevada Federal Court

Puget Sound Leasing (12/11) First Sound Bank Investor Pleads to Keep Bank Open as negotiations continue regarding settlement with Secords.

LEAF Financial, Philadelphia, PA (12/11) Resource America "deconsolidates" LEAF Financial

Radiance-Capital, Tacoma, WA (12/11) Bulletin Board Complaint as Mike Price claims there is a 10% residual on an Equipment Finance Agreement, calling it an "FAA."

Alphabetical Order

Chronological Order
( in both "alphabetical" and "chronological order)

(1) Leasing Companies Out of Business
plus No Longer taking Broker/Discounting Business

John Kenny Receivables Management

End of Lease Negotiations & Enforcement
Fraud Investigation
Credit Investigations
Asset Searches
Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs
John Kenny

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)





Leasing Industry Help Wanted

Marketing Associate
Los Angeles, California

Direct, small ticket ($10k-$250k) leasing company
looking for an energetic, intelligent quick thinker to be our Marketing Associate. 3+ years of commercial equipment leasing experience required. Daily activities include: deal previews, prospecting, managing prospect
database and other marketing support.
Contact: Michael Green,
(310) 696-3030 x 124

Dakota Financial provides equipment leasing/finance solutions to small businesses throughout the United States. We specialize in providing funding for those who can not obtain financing from traditional sources.

National Business Development Manager
with minimum seven years experience and
current book of business. Strategically located throughout
US in various targeted industries.
Click Here for more info.

Western Equipment Finance, a subsidiary of Western State Bank
established in 1901, solicits originations throughout the US and
provides funding solutions for a wide range of industries

For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.



Ten Worst Cities to Find a Job

Downtown Merced, California

1. Merced, Calif. 16.9
2. Fresno, Calif. 15.7
3. Modesto, Calif. 15.5
4. Stockton, Calif. 15.5
5. Visalia-Porterville, Calif. 15
6. Atlantic City-Hammonton, N.J. 12.4
7. Bakersfield-Delano, Calif. 13.4
8. Hickory-Lenoir-Morganton, N.C. 11.7
9. Riverside-San Bernardino-Ontario, Calif. 12.5
10. Brownsville-Harlingen, Texas 11.2

Unemployment Rate, November, 2011




Leasing 102
by Mr. Terry Winders, CLP

Difference between a $1 Purchase Option Lease
and a Conditional Sales Contract

Many think leasing contracts are just disguised conditional sales contracts (CSC). It is much more complicated than that with both good and bad aspects about using a lease form with a bargain purchase option.

Often an Equipment Finance Agreement would offer the lessor a better position as a creditor than as the “owner.” There are many consequences affecting many rules and regulations, just because a lease looks like a CSC does not make it so in the eyes of some of those rule makers.

If you use a lease agreement with a $1 or bargain purchase option you are declaring that you are the owner until the lessee actually exercises the purchase option at lease termination. Therefore you are subject to unpaid taxes that are assessed on the equipment over the term such as property tax, school tax, county taxes, or any other local tax, even though you may not know about it, plus any penalties or interest. This requires a lease accounting software package based on assets and their location and not customers address.

A CSC and a loan are both cancelable with payoffs computed to reduce the payoff by determining the unearned interest. A lease contract is non-cancelable to protect the lessor and gives the lessor control to request the remaining payments. Even though most lessors only impose this non-cancelable clause in the case of default, it does separate a CSC from a lease and has other consequences.

There is no language in a lease contract to accept down payments, trade-ins, or additional collateral. If you try to include them, you are going to have to create an addendum and it will be the camel when you expected a horse. Any attorney will tell you it is a no win document because it is a hybrid and a loan with a security agreement or a Conditional Sales Contract or Equipment Finance Agreement would have been a stronger way to go. However in many States you do not need a license to be in the leasing business, but you do need to qualify for a lender’s license.

One problem with leasing is the amount of documents required to properly complete a lease. You do not find acceptance forms, purchase orders, vendor’s invoices, delivery certificates, or requirements for equipment maintenance, or return requirements in a CSC or Equipment Finance Agreement. Some lessor’s try to include some of these forms in the lease agreement, but clearly do not understand the importance of proper dating and performance issues to follow legal requirements. This opens the can of worms of fraud and recourse on non-recourse funding.

Like it or not, you must require “additional insured” endorsements as well as the “loss payee” on the lessees insurance policies. Because you are the owner until termination you could be subject to a lawsuit for injuries or damage caused by your equipment. Lenders are rarely included. Just the cost of the litigation can be expensive even though you may be exonerated. Some lessor’s seem to ignore the question of insurance under the assumption that a bargain option lease is some protection. This is a dangerous assumption.

There are a lot of provisions in a lease that are not found in a CSC such as a re-location notice, so if the equipment moves to a different tax location changes in tax reporting can occur for personal property taxes or if you are collecting the tax monthly. A CSC does not make the lender subject to any equipment taxes and therefore the accounting is much simpler. Sad to say that some funders buy payment streams and because they look at the lease like a loan, many aspects are ignored and they do not understand the risks that they put the broker in when they do the accounting without a leasing software package.

In short a lending department does not have the tools or the training to account for, or handle, an equipment lease, regardless if the UCC decides it is an Article 9 transaction. Case law will only determine if the lease meets legal or tax standards and has no affect on the accounting standards (SFAS #13) used to classify a lease.

In addition the Lessor is usually concerned about the equipment being leased and studies the actual useful life and the economic value of the equipment over the term. A lender usually reviews the financial statement of the borrower to determine the credit quality of the transaction. A lender rarely reviews the requested term in relation to the risk or the “true” collateral value of the equipment, and let’s not even begin to talk about the warranty concerns. This leads a Lessor to completely describe the equipment and understand its potential use to the lessee, as well as any vendor or manufacturer’s warranty.

Many states require full disclosure on Conditional Sales Contracts and Equipment Finance Agreements, whereas Lease Contracts do not, and many think do not need to follow the state usury laws, thus they are more popular by credit grantors, as well as the advantages of a “true lease” without a bargain purchase option.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at or 502-649-0448

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)



Bank Beat--Nine Month $116.1 Million Loss in Tennessee
Oldest bank in Jacksonville, Florida & Small bank in Minnesota Fail

This was a whooper, showing a $116.1 million loss September 30, 2011 (the latest FDIC report available) after a $97.3 million charge off. It is the largest banking failure this year in a state that has not had a banking failure since Bank of Alamo in West Tennessee November 8, 2002.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $416.8 million. (The four failures last week will cost the insurance fund $607 million bringing the total for the year up to $850.8 million.)

Tennessee Commerce Bank, Franklin, Tennessee, was closed with Republic Bank & Trust Company, Louisville, Kentucky, to assume all of the deposits. Founded January 14, 2000, the bank had 87 full time employees on September 30, 2011 at its sole office. Year-end 2006 they had 49 full time employees

Tier 1 risk-based capital ratio 1.17% as of September 30, 2011.

The stocks at one time were selling for $30 a share, but are now worthless.

As of September 30, 2011, Tennessee Commerce Bank had approximately $1.185 billion in total assets and $1.156 billion in total deposits. In addition to assuming all of the deposits of the failed bank, Republic Bank & Trust Company agreed to purchase approximately $203.9 million of the failed bank's assets. The FDIC will retain most of the assets for later disposition.

Officers of Tennessee Commerce Bank:

Reportedly these officers:
Michael Sapp made $727k
Frank Perez made $503k
H Lamar Cox made $640k
Charles Rogers made $947k
Martin Zorn made $663k

Contrary to media reports such as from the Nashville Business Journal, there were no equipment leasing write offs recorded by the FDIC.

“Eric Raines, a senior ombudsman specialist with the Federal Deposit Insurance Corp., cited the bank’s loan portfolio — full of equipment loans and leases and other types of specialized lending — as the reason for the closure. He said the FDIC’s entire presence, from accountants to investigators, was standard procedure.

“'They ventured into a specialty area of lending ... and that was the source of many of the bank’s problems,' he said.

There is a FDIC category for equipment lease financing which did not show any charge offs for the latest report available to the public, September 30, 2011, but the main category is commercial and industrial loans:

Charge Offs

2006 $1.7 ($1.8 commercial and industrial, -$12,000 individuals, -$14,000 credit cards)
2007 $3.0 ($2.95 commercial and industrial, $32,000 construction/land, $17,000 individuals)
2008 $6.0 ($5.5 commercial and industrial, $400,000 construction, land, $77,000 individuals)
2009 $24.6 ($21 commercial and industrial, $2.9 construction, land) $346,000 1-4 family)
2010 $18.4 ($16.6 commercial and industrial, $1.5 construction, land) $377,000 1-4 family)
9/31 $97.3 ($79 commercial and industrial, $9.2 multifamily, $5.4 construction/land $3.2 1-4 family, $254,000 individuals)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

This is a major write-off for one year and most likely there will be an investigation. Note: the bank did receive $30 million in TARP, which will not be paid back.

(in millions, unless otherwise)

Net Equity

2006 $52.2
2007 $76.9
2008 $108.0
2009 $115.6
2010 $124.3
9/31 $11.7


2006 $5.6
2007 $8.0
2008 $10.4
2009 -$3.3
2010 $6.0
9/31 -$116.1

Non-Current Loans

2006 $3.6
2007 $8.4
2008 $30.4
2009 $20.5
2010 $55.9
9/31 $113.6

Becoming the second bank to fail in Tennessee, the ten branches of BankEast, Knoxville, were closed with U.S. Bank National Association, Cincinnati, Ohio, to assume all of the deposits of BankEast. Founded November 23, 1968, the bank had 84 full time employees at their five offices in Knoxville, two in Maryville, one each in Sevierville, Seymour, and Townsend.

2011 Tier 1 risk-based capital .45% (not a typo. Editor) The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.6 million.

In 2004 both BankEast and Curtis Mortgage Company were purchased by a bank holding company with the name BankEast Corporation. The stated goal was real estate mortgages and loans and in 2008 the charge offs began and in April, 2009 the Federal Reserve and BankEast entered into a written agreement which addressed numerous deficiencies in the Bank’s operations and financial management. Unfortunately it was too late and the charge offs in 2009 were $5 million, then $13.4 million in 2010 and by the end of 2011 the bank equity had gone from $35.8 million in 2008 to $1 million after posting four years of losses totaling $38.9 million with continuing high "non-current" loans.

(in millions, unless otherwise)

Net Equity

2006 $30.9
2007 $32.8
2008 $35.8
2009 $22.4
2010 $6.9
2011 $1.0


2006 $298,000
2007 -$934,000
2008 -$2.7
2009 -$14.7
2010 -$15.7
2011 -$5.8

Non-Current Loans

2006 $23,000
2007 $533,000
2008 $2.5
2009 $13.4
2010 $15.9
9/31 $25.3

Charge Offs

2006 $9,000 ($10,000 1-4 family, $4,000 credit cards, -$3,000 commercial and industrial)
2007 $605,000 ($468,000 construction/land, $62,000 1-4 family, $56,000 individuals, $31,000
2008 $2.0 ($1.2 commercial/industrial, $321,000 individuals, $287,000 construciton/land, $139,000 multifamily)
2009 $5.0 ($2.3 construction/land, $1 commercial/industrial, $824,000 1-4 family, $644,000 nonfarm nonresidential, $149,000 individuals) 2010 $13.4 ($6.8 construction/land, $3.3 commerical/industrial, $1.1 individuals,$589,000 1-4 family)
2011 $2 ( $821,000 nonfarm nonresidential, $587,000 commercial/industrial, $370,000 construction/land, $250,000 1-4 family, $53,000 individuals.

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of September 30, 2011, BankEast had approximately $272.6 million in total assets and $268.8 million in total deposits. In addition to assuming all of the deposits of the failed bank, U.S. Bank National Association agreed to purchase essentially all of the assets.

The eight branches of First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, Florida were closed with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all of the deposits. This is the sixth failed bank in Florida taken over by CenterState Bank .

First Guaranty Bank is the oldest in Jacksonville, founded May 29, 1947, founded by the Fant Family (1), Gilbert Pomar, market president of CenterState told the Jacksonville Business Journal "he would like Jay Fant, First Guaranty’s chairman and CEO, and Hickory Fant, chairman emeritus, to continue working with the bank. "We're optimistic that Jay and Hickory will be part of our growth for years to come."

"Jay Fant said in a news release, 'This is such positive news for First Guaranty clients. CenterState is a Florida bank, very similar to ours. We have known their bankers for years on a professional and personal basis.'

"With the acquisition of First Guaranty, CenterState Bank will operate 69 offices in 20 Florida counties."

The bank had 79 full time employees at their eight branches in Jacksonville, Florida as of September 30, 2011. Year-end 2006 they had 134 full time employees. 2011 Tier 1 risk-based capital ratio .08%.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $82.0 million.

The numbers below would tend to not want previous directors and management back.

(in millions, unless otherwise)

Net Equity

2006 $47.9
2007 $50.7
2008 $42.2
2009 $28.6
2010 $12.5
2011 $2.4


2006 $4.1
2007 $3.9
2008 -$5.0
2009 -$17.1
2010 -$15.7
2011 -$9.97

Non-Current Loans

2006 $1
2007 $7.4
2008 $39.6
2009 $68.9
2010 $85.9
9/31 $87.3

Charge Offs

2006 2,000 (individuals)
2007 37,000 ( $39,000 commercial and industrial, -$2,000 individuals)
2008 $3.4 (1.4 commercial/industrial, $807,000 construction/land,$236,000 multifamily, $226,000 loans to individuals, $232,000 nonfarm nonresidential, $95,000 other loans)
2009 $15.5 ($7.4 nonfarm nonresidential, $3.8 construction/land, $1.1 commercial and industrial, $1 farmland, $670,000 multifamily, $51,000 individual, -$95,000 other loans)
2010 $4.3 ($1.8 multi-family, $1.5 nonfarm nonresidential, $748,000 1-4 family, $197,000 commercial/ind.)
2011 $5.0 ( 1.4 multifamily, $1.1 construction/land, 1,1 1-4 family, $173,000 construction)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of September 30, 2011, First Guaranty Bank and Trust Company of Jacksonville had approximately $377.9 million in total assets and $349.5 million in total deposits.

The FDIC and CenterState Bank of Florida, National Association entered into a loss-share transaction on $292.9 million of First Guaranty Bank and Trust Company of Jacksonville's assets.

  1. History of First Guaranty Bank:[1].pdf


The three branches of Patriot Bank, Forest Lake, Minnesota, were closed with First Resource Bank, Savage, Minnesota, to assume all of the deposits.

"Patriot Bank was founded in 1998 as Lino Lakes State Bank, changed its name in 2005 and moved its headquarters to Wyoming, Minn., before landing in Forest Lake in 2010.

"Patriot Bank made news after the Hugo tornado of 2008, when the bank's CEO, John Milbauer, said it would offer interest-free short-term loans to homeowners whose property was damaged.

"But like many community banks that specialize in commercial lending, Patriot Bank struggled in recent years. In January 2010, Michael Ogren, former owner of the Myth nightclub in Maplewood,

defaulted on a $600,000 loan from the bank. In September 2010, Patriot Bank agreed to a consent order with the FDIC that stipulated it charge off bad loans that were not collectible within 10 days and boost its capital levels.”

The bank had 26 full time employees as of September 30, 2011 at two offices in Lino Lakes and one in Forest Lake. It had been in trouble since 2009, according to the numbers below.

Tier 1 risk-based capital ratio 1.5% as of December 31, 2011

(in millions, unless otherwise)

Net Equity

2006 $15.1
2007 $17.3
2008 $17.8
2009 $14.4
2010 $7.1
2011 $1.5


2006 -$298,000
2007 2.0
2008 $348,000
2009 -$3.2
2010 -$7.3
2011 -$5.7

Non-Current Loans

2006 $3.5
2007 $555,000
2008 $6.3
2009 $10.7
2010 $7.7
9/31 $7.6

Charge Offs

2006 $43,000 ($23,000 commercial and industrial, $20,000 loans to individuals)
2007 $810,000 ($747,000 construction/land, $61 Commercial/industrial, $2,000 individuals)
2008 $727.000 ($550,000 construction/land. $172 commercial/industrial, $5,000 individuals)
2009 $782,000 ($465,000 construction/land, $134,000 nonfarm nonres.,$129,0000 commercial/industrial, $54,000 individuals)
2010 $2.9 ($2.2 construction/land, $484,000 commercial/industrial,$158,000 1-4 family homes, $66,000 individuals, -$56 nonfarm nonresidential)
2011 $4.1 ($1.9 commercial and industrial, $1.6 construction/land,$399,000 nonfarm nonresidential, $88,000 1-4 family homes)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of September 30, 2011, Patriot Bank Minnesota had approximately $111.3 million in total assets and $108.3 million in total deposits. In addition to assuming all of the deposits of the failed bank.

The FDIC and First Resource Bank entered into a loss-share transaction on $79.4 million of Patriot Bank Minnesota's assets

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $32.6 million

List of Bank Failures:

Tracking Bank Failure Map

Bank Beat:



Top Stories January 17-January 21

Here are the top ten sorties opened by readers:

(1) NorthWest Leasing Companies Now Open for Business

(2) As With US Bank, Key Products Grow except Leasing by Christopher Menkin

(3) Leasing 102 by Mr. Terry Winders, CLP
The Purpose of a "Remaining Value"

(4) Pat Sajak Admits to Hosting Wheel of Fortune Drunk

(5) Tom Brady & Gisele get heat for their new $20M mansion

(6) Bank Beat---
Georgia-Florida again, tiny bank in Pennsylvania

(7) Five Years for Failing to Report $1 million income

(8) Why I Became a Certified Leasing Professional Bob Robichaud, CLP

(9) Leasing Schools/Franchisors

(10) More cuts at Bank of America
including wealth management


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


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

United Capital to Lend $42 Million to Popeyes Franchisees in 2012

Hunt Valley, MD -- United Capital Business Lending, a national business lender specializing in franchised restaurant finance, announced today that it will allocate $42 million to qualified, multi-unit Popeyes franchisees in 2012. The Popeyes® Louisiana Kitchen chain recently designated United Capital as one of its lending partners for the franchisor’s 2012 reimaging initiative.

Qualified Popeyes operators may borrow from United Capital to refinance debt, acquire existing restaurants, develop new locations or reimage stores. Financing for these needs is typically structured as fixed rate loans ranging from $250,000 to $5 million or more, with terms up to ten years.

The decision to increase the available funding to Popeyes franchisees was based on United Capital’s 2012 business strategy to support experienced, multi-unit owners within franchise concepts showing consistent performance. “United Capital is proud to be a part of Popeyes® growth,” says Andrew Jones, Vice President and Business Development Officer at United Capital. “Popeyes® is the world’s second largest quick-service chicken concept, so it’s fitting that we focus our dollars to supporting a winning organization.”

United Capital Business Lending is a subsidiary of BankUnited (NYSE: BKU), the largest bank in Florida with over $12 billion in assets.

In addition to Popeyes®, the United Capital team has financed franchisees for Five Guys® Burgers and Fries, SUBWAY®, Burger King®, Dunkin’ Donuts®, Denny’s® and Buffalo Wild Wings,® among others.

For information about financing for franchise acquisition, new restaurant development, equipment, remodeling or refinancing, call United Capital at 866-218-4793 or visit the company’s website at

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


Fort Smith, Arkansas -- Adopt-a-Dog


Pet ID #: 12660187
Breed: Dachshund Mix
Color: Tan/Yellow/Fawn
Age: Adult
Size: Small 25 lbs (11 kg) or less
Sex: Male

I am already neutered and up to date with shots.”

Shelter: Sebastian County Humane Society
Phone: (479) 783-4395
Let 'em know you saw "Longfellow" on!
Fax: (479) 782-5441
Address: 3800 Kelley Highway
Fort Smith, AR 72904


Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet


News Briefs----

Element Financial enters the equipment financing big leagues

Former Georgia bank CEO consents to ban from industry

Garth Brooks’ courtroom battle splits star’s Oklahoma hometown

Day of clashes at Occupy Oakland ends with at least 400 arrests


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Sports Briefs----

Rose rallies Bulls, then beats self up for not finishing job,0,6047450.story

49ers Sign Peyton Manning? Heck no

Rudy Galindo is coaching Kristi Yamaguchi's daughter on the ice



Winter Poem

Snow Day

by Barry S. Marks, Esq.

Leah and Lauren
are building a house
out of cushions
from the love seat and sofa.

They bring treasures
to fill the room
a Lambchop pillow
a jewelry box
dolls that have name
and a few that do not.

I say that it's further argument
against replacing the berber with hardwood, 
at least before next year;
you are willing to compromise
on French doors and a canopy.

And still the snow falls,
now down, now side-ways,
enveloping the house, changing 
the landscape, remaking the world.

We will cook soup today, 
hearty with beef and cabbage
and crowd around the fireplace
instead of the t.v.

"This is my idea", Leah announces.
"Yes", answers Lauren, "It's my idea, too."




California Nuts Briefs---

Oakland officials assess damage to City Hall by Occupy protesters


“Gimme that Wine” 

California Wine Consumption Up 3.3% In 2011 As Industry Seeks To Restore Value

2011 a vintage year for sales of California wine

BERGER: The radical changes in winemaking

New Asian buyers thirst for fresh wine tastes

Men, women at odds over Starbucks beer, wine

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page



This Day in History

     1749- Thomas Isaiah birthday, American printer, editor, almanac publisher, historian and founder of the American Antiquarian Society. Born at Boston, MA; died Apr 4, 1831, at Worcester, MA.
    1781- Maryland becomes the 13th original state to begin a union.
    1798- The first brawl to break out on the floor of the US House of Representatives occurred at Philadelphia, Pennsylvania this day in 1798. The fight was precipitated by an argument between Matthew Lyon of Vermont and Roger Griswold of Connecticut. Lyon spat in Griswold's face. Although a resolution to expel Lyon was introduced, the measure failed and Lyon maintained his seat.
    1815- President James Madison approved an act of Congress appropriating $23,950 to purchase Thomas Jefferson's library of 6,487 volumes. The British had destroyed the 3,000 book collection of the Library of Congress when they burned Washington, D.C. in 1814.
    1835 -- President Andrew Jackson was attacked in the first attempt on the life of a U.S. President. President Andrew Jackson attended a congressional funeral in the Capitol building. As he exited, Richard Lawrence, an unemployed house painter, pointed a pistol at Jackson and fired. The percussion cap exploded, but the bullet did not discharge. The enraged Jackson raised his cane to throttle his attacker, who fired again. The second weapon also misfired and the sixty-seven-year-old president escaped unharmed, but angry as hell, and chased the would be killer with his cane until others captured him. The deranged Lawrence believed Jackson had conspired to keep him poor and out of work. Jackson was convinced that Lawrence was hired by his political enemies, the Whigs, to stop his plan to destroy the Bank of the United States. Lawrence spent the rest of his life in jails and asylums. Here is a bit of trivia for fans, in the trial that followed at the first attempted assassination of a US president, the prosecuting attorney was Francis Scott Key. (Some interested other trivia, Jackson was the only president to pay off the National Debt. He is also the only president to have been a prisoner of war, and is the only president to have fought in the Revolutionary War and the War of 1812. )
    1844 -- Richard Theodore Greener becomes the first African American to graduate from Harvard University.
    1847- Yerba Buena renamed Town of San Francisco by order of Alcalde Bartlett. The order was published in the "California Star", the first newspaper in San Francisco, later known as The Alta Californian, was published by Samuel Brannan with Elbert P. Jones as editor.
    1858-Birthday of William Wells Brown, African-American novelist and dramatist, publishes first Black drama, “Leap to Freedom.”
    1862- US Navy's first ironclad warship (Monitor) launched at Greenpoint Brooklyn, New York into the East River.
    1866 -- Gelett Burgess born Boston, Massachusetts, the author of the whimsical quatrain:
I never saw a purple cow,
I never hope to see one;
But I can tell you, anyhow,
I'd rather see than be one.
In 1897, he began to publish self-illustrated whimsical writings, the best known being, Goops & How to Be Them. He coin the word “Blurb” and was a iconoclast poet and cartoonist.
    1867- The American branch of the Evangelical Alliance was organized at the Bible House in New York City, with William E. Dodge elected president.
    1882- Franklin Delano Roosevelt birthday, 32nd president of the US (Mar 4, 1933-Apr 12, 1945). The only president to serve more than two terms, FDR was elected four times. He is credited with bringing the country out of depression and was an extremely popular president. He supported the Allies in WWII before the US entered the struggle by supplying them with war materials through the Lend-Lease Act; he became deeply involved in broad decision making after the Japanese attack on Pearl Harbor Dec 7, 1941. Born at Hyde Park, NY, he died a few months into his fourth term at Warm Springs.
    1900 -- William Goebel shot, one day before being sworn in as Governor of Kentucky.
In 1895, he killed a factional rival, John Stanford, in a political quarrel; never tried. While contesting the outcome of a gubernatorial election, was shot and mortally wounded in front of the old KentuckyState Capitol ; he was declared elected and sworn in as Governor before he died four days later, in Frankfort, Franklin County , Ky., February 3 1900 , after serving three days of his term. Born inSullivan County , Pa., January 4 1856 . Lawyer; member of Kentucky state senate ; statue at Old State Capitol Grounds , Frankfort, Ky.

1911 Roy Eldridge Birthday ( “Have you ever been uptown, Roy? )
    1912- Barbara W. Tuchman birthday Historian and journalist Barbara Tuchman's most famous works were her Pulitzer Prize-winning books The Guns of August (1962) and Stilwell and the American Experience in China, 1911-45 (1971). Tuchman was known for making history live, never dry. Other well-known books included The Proud Tower (1966) and The First Salute (1988). Barbara Wertheim Tuchman was born at New York, NY, and died at Greenwich, CT, Feb 6, 198, GA, Apr 12, 1945.
    1917- Original Dixieland Jazz Band makes first records, NYC, “Darktown Strutter's Ball,” Indiana ( Col A-2291) Some historians consider this to be the earliest commercially made jazz record. "Darktown Strutter's Ball" was written by Shelton Brooks, who was born in 1886 in Amherstburg, Ontario. The song was inspired by a ball at the 1915 Pacific-Panama Exposition in San Francisco.  
    1928-Birthday of Ruth Brown, the most-recorded female rhythm-and-blues singer of the 1950's, born in Portsmouth, Virginia. Her total of 87 songs for the Atlantic label between 1949 and 1962 surpassed the number of songs recorded by such other Atlantic artists as Ray Charles and the Drifters. Brown's first record to top the r-and-b charts was "Teardrops From My Eyes," in 1950.
    1928-Birthday of vibe player Buddy Montgomery, Indianapolis, IN
    1930- Edmund “Sandy” Amoros, baseball player born at Havana, Cuba. Amoros made a sensational catch in Game 7 of the 1955 World Series for the Brooklyn Dodgers against the New York Yankees, helping Brooklyn to win its only World Series. I was there and remember how important this was at the time. The Dodgers moved to Los Angeles and were never the same as the Brooklyn team that finally beat the Damn Yankees ( name of a Broadway show, so can use it. editor ) Amoros died at Miami, FL, June 27, 1992 and is today an unforgotten man ( except for here J ) Brooklyn Dodgers (1952-57), Los Angeles Dodgers (1959-69), Detroit Tigers (1960) 517 Games, 1311 AB, 215 Runs, 334 Hits, 43 HR, 180 RBI, .255 Brooklyn Dodgers (1952-57), Los Angeles Dodgers (1959-69), Detroit Tigers (1960) 517 Spiele, 1311 AB, 215 Runs, 334 Hits, 43 HR, 180 RBI, .255
    1931 -- Charlie Chaplin's film "City Lights" premiers at Los Angeles Theater.
    1931- The United States awards civil government to the Virgin Islands.
    1933 - The Lone Ranger, with George Seaton as the Ranger and John Todd as Tonto, debuted on radio on this date. It became a national favorite.
    1934-Birthday of Tammy Grimes, actor, singer, comedian. Won the 1961 Tony for her title portrayal in The Unsinkable Molly Brown.
    1935 -- Poet and fascist-sympathizer Ezra Pound meets Beloved and Respected Comrade Leader Mussolini, reads aloud several lines from a draft of the Cantos , which he gives to him as a present. Ezra Loomis Pound was born in Hailey, Idaho in 1885. In 1924 he moved to Italy and became involved in Fascist politics, and did not return to the United States until 1945, when he was arrested for broadcasting fascist propaganda via radio to the United States during WWII, on charges of treason. In 1946, he was acquitted, deemed unfit for trial, and declared insane. He was committed to St. Elizabeth's Hospital in Washington, D.C. After many letters and appeals from friends and writers, including Robert Frost , Ezra won his release from the hospital in 1958. He soon returned to Venice, where he died, a recluse, in 1972. Despite his politics and “craziness,” he is considered one of American's most brilliant and well-read poets.
    1943-Birthday of Marty Balin, vocalist with both the Jefferson Airplane and its successor, Jefferson Starship, born in Cincinnati. Balin was the originator, with Paul Kantner, of the Airplane, the group which epitomized the psychedelic culture of the late-1960's. Balin left the Airplane in 1971, but joined the Starship for three hit albums, beginning in 1975. Marty Balin departed the Starship in 1978, and in 1981 had a hit single, "Hearts."
    1944-Birthday of Sharon Pratt Kelly, first woman mayor of the District of Columbia (1991).
    1944--DROWLEY, JESSE R. Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Americal Infantry Division. Place and date: Bougainville, Solomon Islands, 30 January 1944. Entered service at: Spokane, Wash. Birth: St. Charles, Mich. G.O. No.: 73, 6 September 1944. Citation: For gallantry and intrepidity at the risk of his life above and beyond the call of duty in action with the enemy at Bougainville, Solomon Islands, 30 January 1944. S/Sgt. Drowley, a squad leader in a platoon whose mission during an attack was to remain under cover while holding the perimeter defense and acting as a reserve for assaulting echelon, saw 3 members of the assault company fall badly wounded. When intense hostile fire prevented aid from reaching the casualties, he fearlessly rushed forward to carry the wounded to cover. After rescuing 2 men, S/Sgt. Drowley discovered an enemy pillbox undetected by assaulting tanks that was inflicting heavy casualties upon the attacking force and was a chief obstacle to the success of the advance. Delegating the rescue of the third man to an assistant, he ran across open terrain to 1 of the tanks. Signaling to the crew, he climbed to the turret, exchanged his weapon for a submachine gun and voluntarily rode the deck of the tank directing it toward the pillbox by tracer fire. The tank, under constant heavy enemy fire, continued to within 20 feet of the pillbox where S/Sgt. Drowley received a severe bullet wound in the chest. Refusing to return for medical treatment, he remained on the tank and continued to direct its progress until the enemy box was definitely located by the crew. At this point he again was wounded by small arms fire, losing his left eye and falling to the ground. He remained alongside the tank until the pillbox had been completely demolished and another directly behind the first destroyed. S/Sgt. Drowley, his voluntary mission successfully accomplished, returned alone for medical treatment.
    1944--HAWKS, LLOYD C. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Medical Detachment, 30th Infantry, 3d Infantry Division. Place and date: Near Carano, Italy, 30 January 1944. Entered service at: Park Rapids, Minn. Born: 13 January 1911, Becker, Minn. G.O. No.: 5, 15 January 1945. Citation: For gallantry and intrepidity at risk of life above and beyond the call of duty. On 30 January 1944, at 3 p.m., near Carano, Italy, Pfc. Hawks braved an enemy counterattack in order to rescue 2 wounded men who, unable to move, were Iying in an exposed position within 30 yards of the enemy. Two riflemen, attempting the rescue, had been forced to return to their fighting holes by extremely severe enemy machinegun fire, after crawling only 10 yards toward the casualties. An aid man, whom the enemy could plainly identify as such, had been critically wounded in a similar attempt. Pfc. Hawks, nevertheless, crawled 50 yards through a veritable hail of machinegun bullets and flying mortar fragments to a small ditch, administered first aid to his fellow aid man who had sought cover therein, and continued toward the 2 wounded men 50 yards distant. An enemy machinegun bullet penetrated his helmet, knocking it from his head, momentarily stunning him. Thirteen bullets passed through his helmet as it lay on the ground within 6 inches of his body. Pfc. Hawks, crawled to the casualties, administered first aid to the more seriously wounded man and dragged him to a covered position 25 yards distant. Despite continuous automatic fire from positions only 30 yards away and shells which exploded within 25 yards, Pfc. Hawks returned to the second man and administered first aid to him. As he raised himself to obtain bandages from his medical kit his right hip was shattered by a burst of machinegun fire and a second burst splintered his left forearm. Displaying dogged determination and extreme self-control, Pfc. Hawks, despite severe pain and his dangling left arm, completed the task of bandaging the remaining casualty and with superhuman effort dragged him to the same depression to which he had brought the first man. Finding insufficient cover for 3 men at this point, Pfc. Hawks crawled 75 yards in an effort to regain his company, reaching the ditch in which his fellow aid man was lying.
    1950—Top Hits 
Dear Hearts and Gentle People - Bing Crosby 
The Old Master Painter - Richard Hayes 
A Dreamer's Holiday - Perry Como 
Take Me in Your Arms and Hold Me - Eddy Arnold
    1950 - NBC-TV debuted the drama series, "Robert Montgomery Presents". The well received show played for seven seasons.
    1951--*McGOVERN, ROBERT M. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company A, 5th Cavalry Regiment, 1st Cavalry Division. Place and date: Near Kamyangjan-ni, Korea, 30 January 1951. Entered service at: Washington, D.C. Birth: Washington, D.C. G.O. No.: 2, 8 January 1952. Citation: 1st Lt. McGovern, a member of Company A, distinguished himself by conspicuous gallantry and intrepidity at the risk of life above and beyond the call of duty in action against an armed enemy of the United Nations. As 1st Lt. McGovern led his platoon up a slope to engage hostile troops emplaced in bunker-type pillboxes with connecting trenches, the unit came under heavy machine gun and rifle fire from the crest of the hill, approximately 75 yards distant. Despite a wound sustained in this initial burst of withering fire, 1st Lt. McGovern, assured the men of his ability to continue on and urged them forward. Forging up the rocky incline, he fearlessly led the platoon to within several yards of its objective when the ruthless foe threw and rolled a vicious barrage of handgrenades on the group and halted the advance. Enemy fire increased in volume and intensity and 1st Lt. McGovern realizing that casualties were rapidly increasing and the morale of his men badly shaken, hurled back several grenades before they exploded. Then, disregarding his painful wound and weakened condition he charged a machine gun emplacement which was raking his position with flanking fire. When he was within 10 yards of the position a burst of fire ripped the carbine from his hands, but, undaunted, he continued his lone-man assault and, firing his pistol and throwing grenades, killed 7 hostile soldiers before falling mortally wounded in front of the gun he had silenced. 1st Lt. McGovern's incredible display of valor imbued his men with indomitable resolution to avenge his death. Fixing bayonets and throwing grenades, they charged with such ferocity that hostile positions were overrun and the enemy routed from the hill. The inspirational leadership, unflinching courage, and intrepid actions of 1st Lt. McGovern reflected utmost glory on himself and the honored tradition of the military services.
    1951-Birthday of singer Phil Collins, born Chiswick, England. He joined the art-rock group Genesis in 1970 as drummer, replacing John Mayhew. Collins became the lead vocalist for Genesis after the group's front man, Peter Gabriel, left in 1974.   With Collins fronting the band, Genesis began to score hit singles, starting with "Follow You, Follow Me" in 1978. Collins, while remaining with Genesis, started a solo career in 1982. His first album, "Face Value," sold two-million copies. He's had numerous single hits as well, including such chart-toppers as "Against All Odds," "One More Night," "Sussudio" and "Separate Lives," a 1986 duet with Marilyn Martin.
    1953 -- President Dwight Eisenhower announces that he will pull the Seventh Fleet out of Formosa to permit the Nationalists to attack Communist China.
    1954-- Big Joe Turner's "TV Mama" enters the R&B charts.
    1956 -- As Martin Luther King, Jr. stands at the pulpit, leading a mass meeting during the Montgomery, Alabama, bus boycott, his home is bombed. By chance, King's wife & 10-week-old baby escape unharmed. Later tonight, a thousand angry African Americans assemble on King's lawn. When King appears on his devastated front porch, he tells them: "If you have weapons, take them home. . . . We cannot solve this problem through retaliatory violence . . . We must love our white brothers, no matter what they do to us." King's speech lifts the nonviolent protest movement to new levels of effectiveness.
    1956--Elvis Presley records a cover version of Carl Perkins "Blue Suede Shoes" which will reach number 20 on the US Pop chart in April.
   1956--- Billy Lee Riley records "Red Hot"
    1958- the first two-way moving sidewalk was placed into service at Love Field Air Terminal, Dallas, TX. The walk was also known as a passenger conveyor.
    1958—Top Hits 
At the Hop - Danny & The Juniors 
Don't/I Beg of You - Elvis Presley 
Stood Up/Waitin' in School - Ricky Nelson 
The Story of My Life - Marty Robbins
    1958- Dore Schary's "Sunrise at Campobello" premieres in New York City NY on FDR's birthday. 
    1959-Birthday of vocalist Jody Watley, Chicago, IL
    1960 - Carol Heiss won the women's singles United States figure skating championship.
    1961 - Will You Love Me Tomorrow, by The Shirelles, hit Number 1 on Billboard's hit record charts, and remained in the top spot for 2 weeks.
    1961-The Shirelles became the first girl group to have the number one song on the Billboard Hot 100 when "Will You Love Me Tomorrow" reached the top. They would go on to place ten more hits in the Top 40.
    1962 -- Two members of Flying Wallendas' high-wire act killed when their 7-person pyramid collapses while performing at the State Fair Coliseum in Detroit, the front man on the wire faltered and the pyramid collapsed. Three men fell to the ground, the rear anchorman alone remained standing on the wire. Karl and his brother Herman fell to the wire from the second level. The girl at the top level landed on Karl as he miraculously held her until a makeshift net could be held beneath her. Two of the three men who fell to the earth died that night The third, Karl's son Mario, survived, though he is paralyzed from the waist down.
    1964-- Beatles, "Please Please Me" released this day.
    1965-Leroy “Satchel” Paige, major league baseball player, named all-time outstanding player by National Baseball Congress.
    1965--Following her 1963 #8 hit "The Nitty Gritty", Shirley Ellis reaches #3 on the Billboard Pop chart and #4 on the R&B chart with a novelty tune called "The Name Game".
    1966 -19ºF (-28ºC), Corinth MS (state record) 
    1966 -27ºF (-33ºC), New Market AL (state record)
    1966—Top Hits 
We Can Work It Out - The Beatles 
Barbara Ann - The Beach Boys 
No Matter What Shape (Your Stomach's In) - The T-Bones 
Giddyup Go - Red Sovine
    1968- the TET offensive began: Vietnamese general staff headquarters. Costing as many as 40,000 battlefield deaths, the offensive was a tactical defeat for the Viet Cong and North Vietnam. The South Vietnamese held their ground and the US was able to airlift troops into the critical areas and quickly regain control. However, the offensive is credited as a strategic success in that it continued the demoralization of American public opinion. After Tet, American policy toward Vietnam shifted from winning the war to seeking an honorable way out.
    1969- -- The Beatles give their last public live performance on the roof of their own Apple Studios, 3 Savile Row, London. The band had come up with the idea of a rooftop performance a few days earlier, but the roof had to be shored up first in order to handle the weight of the group's equipment. Filmed for the movie that eventually became Let It Be, the set performed was as follows: "Get Back" (take 1), "Get Back" (take 2), "Don't Let Me Down," "I've Got A Feeling" (take 1), "One After 909," "Dig A Pony," "I've Got A Feeling" (take 2), "Don't Let Me Down" (take 2), "Get Back" (take 3). (The band also does a version of "God Save The Queen" that is not recorded.) The concert, which lasts 42 minutes, comes to an abrupt end when police, tipped off by the complaints of a nearby shop owner, shut the concert down.  The Beatles managed to carve their place in music history in a career that lasted seven years, counting from the recording of their first hit single, "Love Me Do," in 1962.
    1970 -- For the second time in six months, rioting erupts during an anti-war protest in East Los Angeles.
    1971-- Janis Joplin, "Me And Bobby McGee" released this day.
    1973 –In the continuing Watergate scandal, James W. McCord and G. Gordon Liddy, former members of the Nixon reelection campaign, were convicted of breaking into and illegally wiretapping Democratic Party headquarters in 1972. Five others involved had earlier pleaded guilty.
    1974—Top Hits 
You're Sixteen - Ringo Starr 
The Way We Were - Barbra Streisand 
Love's Theme - Love Unlimited Orchestra 
I Love - Tom T. Hall
    1975-The Bee Gees begin recording "Jive Talkin", which will become their second US chart topper and their fourteenth Billboard Top 20 hit. Barry Gibb's inspiration for the song came when his wife commented on the sound their car made while crossing a bridge over Biscayne Bay into Miami. She noted, "It's our drive talkin'." 
    1976 -- George Bush becomes 11th director of CIA.
    1977 - The final episode of Roots, the milestone mini-series on ABC, was watched on this date by an estimated 80 million viewers. It was the highest-rated mini-series in television history.
    1977-- The great "Buffalo Blizzard" finally abated after three days. The storm added a foot of new snow to 33 inches already on the ground. Winds gusting to 75 mph reduced visibilities to near zero, produced snow drifts twenty-five feet high, and kept wind chill readings 50 degrees below zero. The blizzard paralyzed the city, and caused 250 million dollars damage.
    1979-African-American Franklin Thomas named president of the Ford. In his retirement, he was named Chairman of the September 11 th Funds, 2001 Foundation.

    1982—Top Hits 
I Can't Go for That (No Can Do) - Daryl Hall & John Oates 
Centerfold - The J. Geils Band 
Harden My Heart - Quarterflash 
The Sweetest Thing (I've Ever Known) - Juice Newton
    1982--Hall & Oates' "I Can't Go for That" hit number one on the Billboard Pop chart and the R&B chart simultaneously, one week after hitting number one on the Disco chart. It becomes only the fourth single by a white act to reach the top of the R&B chart since 1965. 
    1983- the Washington Redskins defeated the Miami Dolphins, 27-17, to win Super Bowl XVII. Washington, in winning its first NFL title in 40 years, was led by fullback John Riggins, who rushed for 166 yards on 38 carries and was named the game's Most Valuable Player.
    1986 - The "Love" stamp featuring a little dog, went on sale, as the fifth in the continuing series. As of that date, over 302 million "Love" stamps had been sold.
    1989,-"When I'm With You," a seven-year-old song by the defunct Toronto band Sheriff, hit number one on the Billboard Hot 100. The song's belated success brought its writer, Arnold Lanni, millions of dollars in royalties. Lanni went on to form the band Frozen Ghost.
    1989-George Michael has a big night at the 16th American Music Awards, winning Favorite Album for "Faith" and Favorite Male Artist in both the Pop / Rock and Soul / R&B categories.
    1990-Bob Dylan is awarded France's highest cultural honor when he is named Commandeur dans l'Ordre des Arts et des Lettres by The Minister of Culture, Jack Lang.
    1990—Top Hits 
How Am I Supposed to Live Without You - Michael Bolton 
Downtown Train - Rod Stewart 
Just to Make It Right - Seduction 
Nobody's Home - Clint Black
    1990- A major winter storm produced heavy snow from Indiana to New England. It was the biggest storm in two and a half years for eastern New York State. Snowfall totals in the mountains of Maine ranged up to 20 inches at Guilford and Lovell. Other heavy snowfall totals included 17 inches at Utica NY, and 19 inches at Bethel VT, Ludlow VT, and New London NH. The storm claimed three lives in eastern New York State, and four lives in Vermont. 
    1992 -- The Guthrie Center is dedicated. The Guthrie center is a non-profit organization, put together by folksinger Arlo Guthrie. It is housed in the church building that provided the setting of his best known story-song Alice's Restaurant.
“I am out to sing songs that will prove to you that this is your world & that if it has hit you pretty hard and knocked you for a dozen loops, no matter what color, what size you are, how you are built, I am out to sing the songs that make you take pride in yourself and in your work. & the songs that I sing are made up for the most part by all sorts of folks just about like you. I could hire out to the other side, the big money side, and get several dollars every week just to quit singing my own kind of songs ... But I decided a long time ago that I'd starve to death before I'd sing any such songs as that. “---Woody Guthrie
    1993- subway service in Los Angeles began. It consisted of a single route, a 4.4 mile, five-station track connecting Union Station with MacArthur Park. An expanded system with 22 miles of track and 20 stations was planed to be completed by 2001. The web site says 17.4 miles have been completed. 
    1994- Super Bowl XXVIII Dallas Cowboys beat Buffalo Bills, 30-13 in Atlanta; Super Bowl MVP Emmitt Smith, Dallas, Running Back 1994- Dan Jansen skates world record 500m (35.76) . He took his victory lap with baby daughter Jane, named after his sister who died from leukemia, in his arms; won 1994 Sullivan Award.
    1994- the Boston Celtics retire No. 32, the jersey worn by forward Kevin McHall for 13 seasons, in a halftime ceremony. McHall scored 17,335 points, made seven All-Star teams and helped the Celtics win three NBA championships.
    1994-- Natalie Cole sings the national anthem at Superbowl XXVIII in Atlanta, GA.
    1998-Howard Stern Radio Show premieres in Indianapolis IN on WNAP 93.1 FM 
    2000 - Super Bowl XXXIV (at Atlanta): St. Louis Rams 23, Tennessee Titans 16. Rams' QB Kurt Warner (MVP) completed 24 of 45 passes for a record 414 yards (breaking Joe Montana's mark of 357 yards). Plays of the game: 1) Warner to Isaac Bruce for a 73-yard touchdown pass in the 4th quarter and 2) St. Louis linebacker Mike Jones stopping Tennessee's Kevin Dyson just short of the goal line as time expired. Tickets: $325.00 to $400.
    2008-Madonna topped Forbes magazine's list of the 20 top grossing females. The 49 year old material girl banked $72 million between June 2006 and June 2007, while Barbra Streisand and Celine Dion followed, taking home $60m and $45m respectively.

Superbowl Champions This Date

    1983 Washington Redskins ( Washington 27-Miami 17 )
    1994 Dallas Cowboys ( Dallas 30-Buffalo 13 )
    2000 St. Louis Rams ( St. Louis 23-Tennesse 16


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