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Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.

###### Extra############ Regular Edition Follows####################

Extra ---Leveraged leases

"I don’t know how much of your readership is affected by leveraged leases, but the FASB officially killed them on Wednesday.  Although we all knew it was coming, there was still hope that they would be grandfathered, but the FASB also voted to not allow grandfathering.  I am not certain of how lessors will react, but I have heard rumors that some leveraged lessors are talking of spinning off their leveraged leases."

1. A lessor would account for leveraged leases under the proposed new leases guidance. There would not be a different lessor approach for leveraged leases. 

2. A lessor would apply the same transition guidance to current leveraged leases as required for all other leases; that is, existing leveraged lease transactions would not be grandfathered.

Shawn Halladay, Managing Director
801 322 4499 direct
801 322 5454 fax

Global Experience Provides Direction

###### Extra########### Regular Edition Follows####################


Friday, July 15, 2011

Today's Equipment Leasing Headlines

Waiting for the Debt Ceiling to hit the fan
 by Christopher Menkin
  Classified Ads---Sales Manager
    "The courts define what is fraud, not you or anyone else”
      by Bernie Boettigheimer, CLP
  Direct Capital, Gonor Funding, GreatAmerica Leasing
   join Evergreen Notification List
    Cartoon---Get Serious, Greg!
 New Hires—Promotions
   Classified Ads---Help Wanted
    Two named for 2011 Operation & Technology Excellent Award
      Time to turn to that reliable cooling system known as cinema
      Summer DVD Reviews by Fernando F. Croce
       Arlington, Virginia Adopt-a-Dog
        Top Language Jobs
News Briefs---
 Dubai leasing firm cancels 35 Boeing orders
  FDIC sues insiders at failed Geogia bank
   Europe Looks for Hope in Bank Test Results
    1.17MM homes get foreclosure notices so far/25% Drop
     Mortgage rates fall to labor pains
      Google quarterly results beat expectations
       Skype: The inside story of the boffo $8.5 billion deal
        Life after Banking, ex CFO looks for a new job

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

   5 Disastrous Consequences of a Debt Ceiling Meltdown
   You May have Missed---
    Sports Briefs
      California Nuts Brief---
       "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.


Waiting for the Debt Ceiling to hit the fan
by Christopher Menkin

(Leasing New Business from ELFA MFLI-25; Leasing News Chart)

It appears business has really slowed down as the deep concern about the economy of the country has brought all activity almost to a standstill. It also appears many took long July 4th holiday days off, and certainly the Equipment Leasing and Finance MFLI-25 July will not be very good. The August will be worse if Congress cannot compromise on the direction of the country.

At this point, first six months of 2011 is not known.

(MLFI numbers: Leasing News Chart)

The June MFLI numbers should come in within the next five days. The first five months add up to $25.2 billion, according the MFLI-25 reports. If June comes in around $5 billion, it will be the same pace as last year. If congress allows a default in the debt ceiling, it certainly will create large decreases in numbers for the leasing and finance industry in the second part of the year. It will be considerably much worse than 2009. No joke, we could be out on the street leasing apples.

A recent press release from the Equipment Leasing and Finance Association with responses from 108 ELFA member companies for their 2011 Survey of Equipment Finance Activity (SEFA) report found "an overall 3.9% increase in volume in 2010, compared to a significant 30.3% decline reported in 2009 and a 2.2% decline reported in 2008.

The numbers on the left come from the ELFA MFLI-25 report from the alleged 25 leasing companies (the problem during this period there often were more than 25, as well as through the last four years, there were many changes in companies reporting; however, ELFA says this has been taken into account) and the right side from SEFA.

  5% increase  
  13% decrease 2.2% decrease
  28% decrease 30.3% decrease
  9% increase 3.9% Increase

MFLI-25 Archive:


Classified Ads---Sales Manager

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

Bayville, NJ
Dedicated individual seeking a account management position, 3 years leasing experience and 15+ years sales experience. Resume furnished upon request,
email Frank at .

Fort Myers, Florida
Very experienced and strong skills with both Captive and Specialty Sales Management. Over 25 years , will relocate and travel---successful and team player.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


"The courts define what is fraud, not you or anyone else”
   by Bernie Boettigheimer, CLP

"The courts define what is fraud, not you or anyone else”
   by Bernie Boettigheimer, CLP

My lawyer told me when I formed, “Bernie, the courts define what is fraud, not you or anyone else”.

The misuse of the word "fraud" is prevalent in our industry, but it should be explained in Legal terms.  When does it cross the line from exaggeration or "salesmanship" in the selling of leases?  Fraud does exist. First, let’s put aside fraud by leasing companies and discounters. These highly publicized cases, while rare, are more than just plain poor oversight and lack of proper auditing or "due diligence. Second, let's also put aside Broker fraud; numerically they are rare.

In my previously company, Pioneer Capital where we dealt strictly with brokers, our experience was excellent. Over 15 years and 60,000 leases we had only 2 cases where we sued a broker for fraud.

The overriding instances occur in the relationship of vendors and lessees. One large but numerically small area is "Marketing Fraud." In this category are NorVergence, Royal Links, Brican America and Television Broadcasting (which marketed to Black Churches), among many others.  We will always need to be on the alert for this type but we appear to be getting smarter and this type fraud has been stymied since Lease Police was started. Sadly the resulting losses far exceed in these few cases because recoveries are small and lessee counter law suites are expensive to defend.

As to what is "fraud,” a former SEC prosecutor goes further and gives a clear definition:

“Fraud must be proved by showing that the defendant's actions involved five separate elements, not one to prove "fraud," but all five to meet the legal definition: (1) a false statement of a material fact, (2) knowledge on the part of the defendant that the statement is untrue, (3) intent on the part of the defendant to deceive the alleged victim, (4) justifiable reliance by the alleged victim on the statement, and (5) injury to the alleged victim as a result”.

These elements contain nuances that are not all easily proved. First, not all false statements are fraudulent. An exaggeration about being the "best rate," "the best deal," etc would be considered as “puffing” and not fraudulent on their own.

Currently, has over 50,000 company files. Out of that population we have about 400 files with “Unusual Activity”. Statistically this is a very useful sampling, and conservatively it is safe to say that ”KNOWN"  FRAUD IN THE LEASING INDUSTRY HAD EXISTED FOR  APPROXIMATELY  1% OF ALL TRANSACTIONS. 

There is no way to determine how much fraud goes "UNDETECTED", but I would guess the figure is at least half of what is detected. Many leasing companies just write the loss off and never even suspect any wrong-doing.  Therefore, if I had to determine a percentage of deals with fraud, I would most likely say it is in the 1.5% area. Furthermore, there is no known way to estimate the actual losses from such transactions and I wouldn’t even venture a guess.

Bernie Boettigheimer, CLP
Lease Police, Inc.
1400 Preston Rd. #400
Plano, TX 75093 
972-692-8091- Fax

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


Direct Capital, Gonor Funding, GreatAmerica Leasing
join Evergreen Notification List

First, in the Leasing News editorial, it was explained the position was not having an Evergreen Clause, but the non-notification, including requiring your discounters to notify the lessee, regarding the end of the original lease term.

While there are now six states, several with penalties, and a procedure to be followed, Leasing News is not suggesting a specific procedure to follow or even 30, 60, 90 days, but simply as those who have joined the list having a policy of always informing the lessee without the intention of tricking them into continuing lease payments.

Companies who notify lessee in advance of lease expiration
and require their discounter to also notify lessee in advance

ABCO Leasing
Advantage Funding
Agility Ventures LLC
Allegiant Partners
Bankers Capital
Black Rock Capital
BSB Leasing
Commerce National Bank
Dakota Financial, LLC


Direct Capital
Gonor Funding
GreatAmerica Leasing
Madison Capital
Marquette Equipment Finance
Mesa Leasing
Maxim Commercial Capital
National Machine Tool Financial Corporation
Northwest Leasing Company
Pawnee Leasing Corporation


A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen

ABCO Leasing, Inc.
Bothell, Washington
Brad Christensen
26 states.
$50,000 - $450,000

We do not do Evergreen leases. Although our leases do not have a provision for renewals we do offer a 6 to 12 month fixed term renewal to our lessees when they reach the end of term if they have paid well or if the P.O. is a fairly sizable amount. At the end of the renewal term they own the equipment for $1.00.

The actual end of term option is to purchase for 10% plus other taxes and assessments then due or return the equipment.

Our lessees have been very receptive to our renewal option and we always notify lessees at least 30 days in advance of lease end.
Rowan Clark

Advantage Funding
Edward P. Kaye

Vehicles Only

$10,000 - $1,000,000

We do not have an Evergreen Clause in our lease contracts and always inform the lessee in advance about the expiration date of the lease.
Ed Kaye

Agility Solutions
Hal Hayden
(928) 541-0771

$50,000 - $1,000,000
(Master Lease)

Does Subprime Leases

We do use an “evergreen clause” in our master lease, but we proactively communicate with our clients prior to the end of the lease term regarding their purchase options. Most of our leases have a fair market value purchase option with a cap and it is important for us to reach agreement with the client on a purchase price prior to the termination of the lease schedule. (All of our clients have multiple schedules under their master lease, so they are familiar with our process.)

We have had a few clients choose to extend on a moth-to-month basis and we always credit those payments to the purchase if and when they buy the equipment. We also allow clients with a good payment history to pay their buyout over 6 to 12 months if they prefer to.

In our business of leasing technology equipment which is deployed in thousands of locations, the evergreen renewal is an important tool only in the event that a client says they will not buy the equipment and they will not return it in working condition.
Hal Hayden

Allegiant Partners Incorporated
Scott Enbom
(415) 257-4200, x207
Nationwide, including Alaska & Hawaii
$20,000 to $275,000

"On a $1, EFA, Put, or lease with a fixed purchase option under 10% of original equipment cost, we do not do automatic renewal. On true operating leases we also always notify lessees of a residual due."
Scott Enbom

Bankers Capital
Larry LaChance - President
Nationwide - 50 States

$25,000 +

Bankers Capital’s policy and procedure at the end of the Lease term is to bill for the residual assuming there is no continuing default and the Lessee has satisfied its Lease Obligations. We either get paid or we will even work with them to stretch it out over a few months for cash flow reasons. We only do true Leases and do not do 1.00 out Leases. So we do notify all Lessees. We would rather have repeat business with a new Lease than a pissed off customer with renewal payments for who knows how long.

Our Lease documents do state that they either return the equipment, purchase the equipment, or if they choose neither, then the Lease will renew automatically month to month. We prefer that they exercise their purchase option and we try and make it easy for them to do that.

Side comments to Lessors who insist on Evergreen clauses and deceptively collecting on them: IF you can’t get your yield on the stream plus the intended residual, Don’t Bait and Switch to get it. That is what gives our industry and Lessors a bad reputation. If you keep it up, it won’t be long before we become regulated. When that happens, it will cost you more to stay in business under those regulations and you will make less money in the long run. And guess who will regulate you???
Larry LaChance

BSB Leasing, Inc.
1992 Colorado, Hawaii
Don Meyerson, Pres.
Bruce Zwillinger, Vice President
800.945.3372 ext. 306
Randy Propect, East Coast
Vicki Shimkus,CLP
West Coast Brokers

First we don't have a discounting program. We do however allow a broker to "own" the residual. But we only allow transactions to be documented using our document which does not contain an evergreen clause.

BSB Leasing, Inc. generally does not take a residual position in the leases we write for our own portfolio. We either write $1 purchase options or PUTS. We do not have an evergreen clause in our lease or EFA contracts. In the rare event that we do take a residual position we do notify the client when the agreement is coming to term and a residual is due.
Don Myerson

Black Rock Capital
George Booth
US Canada (F)

$50,000 to $3MM

$250,000 average transaction

They are in fact notified in that we will not only invoice them if notification is not received and also we call them.
George Booth

Calfund, LLC
Harry Saghian
Western States


Does Subprime Leases

We do not use Evergreen clauses and always notify the lessee before the lease expires about any residual or purchase option.
Harry Saghian

Commerce National Bank
Bob Robichaud, CLP
Primarily California
Full credit packages up to $1.5MM

"We do offer discounting as well as brokered transactions, and we have approved some Lessor documents for discount. But if we aren’t willing to accept a Lessor’s specific Lease or EFA documents we have a complete set of own “generic” documents they can use. However; our documents do not have any Evergreen, Wintergreen or any other form of renewal or extension provision language."

"Whoever discounts to us either has it in their document or gives us a written statement that they inform lessee in advance about the end of their contract, and don't abuse Evergreen clause."
Bob Robichaud, CLP

Dakota Financial
Mae Philpott
310.696.3030 x122
fax 310.696.3035
$10,000 to $1MM
"Dakota never has and never will write an evergreen clause into our leases. One of the great things about our program is that our purchase option is actually already calculated into our lease quotes (with the term residual structure) so that customers know from day 1 exactly how much they will pay to own their equipment at the end of the lease."
Mae G. Philpott

Direct Capital Corporation
(also known as "Direct Lease")
Steve Lankler, Vice President, Marketing
V: (603) 433-9470
CNI (b)
CNI (a) Search

Direct Capital does not have an Evergreen clause in our contract and we do notify lessee prior to end of lease.
Chris Broom

Gonor Funding
Norman J. Gonor
Jason Gonor
818.402.6999 (Y)

$10,000 to $100,000 with an average of $25,000 - $35,000

Does Subprime Leases


I can tell you that I do notify the client when the lease is coming to an end, and I do NOT require notice from them. I have never invoked the extra payment rule of Evergreen since I have been in business.
Norman J. Gonor, Attorney

GreatAmerica Leasing Corp.
Cedar Rapids, IA
Chris Walker, CLP
$3,000 to $75,000

We think of evergreen as being a 12 month lock, which we don’t do on GreatAmerica contracts. We also notify all lessees prior to end of term regarding the expiration of their initial term. From there we simply use a month-to-month approach
Matthew L. Doty

Madison Capital
(formed by merger of Harbor Leasing,
started 1983,
& Fox Valley Leasing, started 1974)
Allan Levine, COO
443.796.7333 x7337

Nancy Pistorio, EVP
443.796.7333 x7325
Mitch Larkin.VP Of Business Development
Lessor/Broker Division
443.796.7333 x7348
Fax: 443.796.7200

U.S., Canada, Puerto Rico
$10,000 to $450,000, Vehicles: Unlimited



When our leases are up, they are up. No extra billing(s).
Allan Levine

Marquette Equipment Finance
(a subsidiary of Meridian Bank) Midvale, Utah
Dorran Sampson
Vice-President/Broker Relations
$100,000 - $5,000,000

Marquette Equipment Finance does not offer an Evergreen product. Our master lease provides for extensions but is negotiated at the schedule level. Notice periods are also negotiated at the schedule level and vary depending on the Lessee’s needs.
Dorran Sampson

Maxim Commercial Capital, LLC
Doug Houlahan, CLP
Shervin Rashti, CLP

$35,000 - $500,000

While we have an Evergreen clause, it is not our intention to rollover the lease and we are in
communication with our lessee regarding the termination of the lease contract.
Shervin Rashti, CLP

Mesa Leasing, Inc.
Jeff Macdonald
Arizona, California, Idaho, Oregon, Nevada, Utah, Washington

$10,000 - $100,000

Mesa Leasing does not have an evergreen clause in our contract.  We do have a clause that says
payments continue until the equipment or the residual is paid.  Mesa does notify lessees that the
lease has been paid and the residual is due or the equipment can be returned.  To date no one
has returned their equipment once they learn that the equipment has to be delivered to Mesa in good working order.
Jeff MacDonald

National Machine Tool Financial Corporation
Chris Chiappetta, Robert Lang, Susan Adamatis
800-669-7527 (CC)


We/I do not advocate the “Evergreen or Wintergreen Clause.”

The majority of our transactions are $1.00 option leases and we DO NOT continue to bill monthly payments after the last term payment has been made.

If there is a residual due, we DO notify lessees in advance via invoice for the residual amount.
Susan Adamatis

Northwest Leasing
Company, Inc.

Bellevue, Washington
Tad Rolfe 425-827-8386
(more info)

Washington, Oregon, and Idaho

$10,000 to $75,000 (Avg. $25K)

We send billing statements every month.  We have a signed Residual Agreement the day
the lease begins and bill the residual the month after the last billing statement.  We usually collect
a Security Deposit up front and that is automatically credited at the time of the Residual Billing.
Tad Rolfe

Pawnee Leasing Corporation
Gary H. Souverein President
(800) 864-4266 ext. 222
(Click here for further description)

$1,000 - $50,000

Does Subprime Leases

We do not discount with anyone so that's not an issue; everything is on our docs.

We do indeed have a thorough notification process that includes layman, written notices on FMV style leases at 90 days before expiration, at expiration and post expiration to all of our lessees.  I'd add that any renewal payments contractually are at 50% of the regular payment and is month-to-month.  We are cognizant of the negative ramifications that "evergreen" brings to our firm, our brokers and industry and do our best to avoid any and all abuses.  We think our processes are tilted to the benefit of our customers as they should be.




New Hires—Promotions

Jule Kreyling was named Vice-President, Senior Regional Director for TD Equipment Finance in Greenville, South Carolina. He is responsible for growing TD Equipment Finance’s business throughout the bank’s southern footprint, which includes Metro D.C., Virginia, Maryland, North Carolina, South Carolina and Florida. Previously he was President, Watchung Portfolio Management (June, 2009-May, 2011), Executive Vice-President, Omni National Bank (December, 2002-May, 2009), Vice President & Division Manager, CitiCapital (a Division of Citigroup), September, 1999-May, 2002). Vice-President, Textron Financial (1992-1999), Associate, Troutman Sanders, LLP (June, 1989-June, 1992). He has a JD, Law, Harvard Law School (1986-1989), a BA, American Studies, William College (1984-1986).

Dan Nuss has been named Senior Vice President, Technology Vendor Financial Services at US Bank, Des Moines, Iowa. He is now the sales leader for the Technology Segment of US Bancorp Equipment Finance, Vendor Services. He previously was previously National Sales Director, CIT Group (October, 2008-July, 2011), Vice-President, Business Development, CIT (January, 2007-October, 2008), Vice President, National Accounts, CIT (January 2005-January, 2007), Technology Finance Sales Manager, CIT (November, 2002-January, 2005). He has a Bachelors degree in Business administration from Upper Iowa University

Charles R. Philips joins TD Equipment Finance in Framingham, Massachusetts, as Vice-President, Express Lease Sales Officer; he is responsible for new business direct lease and vendor program origination for existing and new TD Bank small business clients throughout New England, with transactions ranging from $5,000 to $500,000. He has more than 25 years of experience in the financial services industry. Prior to joining TD Equipment Finance, he worked at Hewlett Packard, Bank of America Global Vendor Finance and ePlus. A resident of Southborough, Mass., Phillips is a 1981 graduate of St. Bonaventure University in St. Bonaventure, N.Y.

Richard Shanahan has been named Director of Government Relations, Equipment Leasing and Finance Association, Washington, DC. will engage members in grassroots activities at the federal level as well as operate the association’s political action committee (LeasePAC). He previously was Associate, Legislative & PAC Affairs, Deere & Company (February, 2005-May, 2011), Mailroom/Constituent Assistant, Office of Senator Ben Nelson (D-Neb.) He has a MPP, Public Policy, The George Washington University (2006-2009) and a BS, Elementary Education, Fort Hays State University (1998-2003). He is active in the Sigma Alpha Epsilon Fraternity and Knights of Columbus.

Paul Torres was named Senior Credit Officer at Mechanics Bank, Richmond, California. On line, it shows he was Senior Credit Analyst, Bay Area Development Company, February, 2006--March, 2009, Trinity Capital, San Francisco, Chief Operating Officer, Bay View Commercial Leasing (Bay View Bank), West Coast Marketing Director, Livery Resources, a Chicago-based bank-owned leasing subsidiary, Credit Manager, Warren Capital, Credit, Ford, Credit, Toyota, He graduated with a BA in Financial Information, California State University-Fullerton (1983-1988). He previously served on the Leasing News Advisory Board. He is a previous Certified Leasing Professional. Paul Torres is also an accomplished musician on piano, bass, rhythm guitar.


These are from a recent Commercial Capital announcement adding three leasing veterans. The actual positions were filled near the beginning of the year, one going back to February, but since cannot find a record that they appeared in Leasing News (although they may have), here they are:


Steven G. Clyne has been hired by LEAF Commercial Capital, Philadelphia, Pennsylvania as regional sales manager to cover the Northeast region; based in the greater New York area.

LinkedIn notes he is Regional Sales Manager, Northeast, LEAF Financial Corp (March, 2011-present), previously Director, Patriot Funding Corporation (May, 2009-February, 2011), National Sales Manager, CIT Group (October, 2007-Feburary, 2009), Major Account Sales Executive, Citigroup (May, 2000-October, 2007), Account Manager & Sales Rep, Copelco Capital (May, 1996-May, 2000). He graduated University of Delaware (1991-1995), Westfield High School (1988-1991).He is Chairman, The Gregg F. Clyne Memorial Foundation, Organizer, Old St. Patrick’s Cathedral Basketball, NYC.

Evan Cohn has been hired by LEAF Commercial Capital, Philadelphia, Pennsylvania as regional sales manager to cover the Southeast region. LinkedIn shows is Regional Sales Manager, LEAF Commercial Credit (February, 2011--Present), previously Senior Account Manager, Janus Displays (2010-2010), National Account Manager, CIT (April, 2007-February, 2009), Regional Sales Manager, CitiCapital, formerly Copelco Capital (2005-2007), Regional Sales Manager, Wells Fargo Financial (201-2005), Regional Sales Manager, GE Capital (2001-2003), Regional Sales Manager, Copelco Capital (1998-2002), Remarketing Manager, AT&T (1986-1992), Remarketing Manager, Eaton Financial (1985-1990). He has a BA, History from Brandeis University.

Stephen Donahue has been hired by LEAF Commercial Capital, Philadelphia, Pennsylvania as regional sales manager to cover the Western region. "Donahue brings 25 years of equipment and commercial finance experience with Master Lease Corp, First Valley Leasing and Butler Capital in various roles."



Leasing Industry Help Wanted

Equipment Leasing Opportunities throughout the U.S. Controller: West Coast • Copier Sales Reps: Florida
• Producing Healthcare Leasing Mgr: Midwest
• Truck / Trailer Leasing Rep: Southwest
• Vendor Sales Team: Anywhere U.S.

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

Please see our Job Wanted section for possible new employees.


Two named for 2011 Operation & Technology Excellent Award

The Operations & Technology subcommittee of the Equipment Leasing and Finance Association (ELFA) selected First America Equipment Finance and ICON Capital Corp. for the ELFA Operations& Technology Award.

The two award winners will be saluted at the 50th Annual Convention at JW Marriott Hill Country, San Antonio, Texas October 23-35, 2011.

First American Equipment Finance was recognized for its innovative use of video, according to the ELFA subcommittee." First American’s video initiative includes video-based communications with customers, as well as peer-to-peer video collaboration and learning. Specifically, First American launched its own form of You Tube, called 'Cube Tube,' a digital signage system with ever-changing digital billboards, an external videoconferencing system, desk-to-desk videoconferencing, and video-rich content on its website."

ICON Capital Corp. was recognized for applying technology to automate complex financing processes, according to the ELFA subcommittee. " ICON Capital Corp. was recognized for applying technology to automate complex financing processes. ICON selected LeaseWave, the portfolio management system from Odessa Technologies, with the intent of increasing the operational efficiencies of the company.

"' Through extensive collaboration between Odessa and various ICON departments, LeaseWave was configured and customized to develop a single automated solution that manages all of the administration and accounting processes previously requiring multiple systems, excel spreadsheets and manual workarounds. ICON’s investment in its core infrastructure has resulted in a more efficient and technologically advanced company ready to continue its growth in the alternative investment space."

Previous Operations & Technology Excellence Award winners include:

    • 2010: Winthrop Resources Corporation

    • 2009: Key Equipment Finance, PHH Arval

    • 2008: Orion First Financial LLC, Trinity Industries Leasing

    • 2007: TCF Equipment Finance, California First National

      Bancorp, and Xerox Capital Services
    • 2006: Farm Credit Leasing

    • 2005: Sytx Capital, Relational LLC

    • 2004: Cisco Systems Capital Corporation

    • 2003: AgStar Financial Services, National Leasing Group

    • 2002: ABB Financial Services, IBM Global Financing,

      Caterpillar Financial Services Corporation

Comprehensive personal property tax outsourcing services
We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do.

Click here to learn what our clients say about our service
Gary DiLillo, President 216-658-5618 or

Special Edition: Summer Weather

With summer’s trademark high temperatures arriving with special intensity, it’s time to turn to that reliable cooling system known as cinema. We’ve come up with a list of movies to help negotiate seasonal heat—check them out at Netflix.

Summertime (David Lean, 1955): Traveling is one of the pleasures of summer, and few movies have captured that sense of seasonal lushness like this beloved classic, directed by the legendary David Lean. Katharine Hepburn stars as Jane Hudson, a single Ohio secretary who decides to live her dream by visiting Venice. Taking in the breathtaking views with her portable recording camera when not taking sudden dips into the water canals, Jane starts to feel lonely until she meets Renato (Rossano Brazzi), the charming owner of a local antiques shop. Can she allow her emotions to take over? More importantly, can this emotional bond continue after the vacation is over? Best known for his large-scale spectacle (“Lawrence of Arabia”), Lean brings sensitivity to this romantic tale, aided greatly by Hepburn’s vibrant performance.

Body Heat (Lawrence Kasdan, 1981): A scorching heat wave in Florida supplies the background for this first-rate thriller, which updates the style of 1940s film noir for modern audiences. Ned Racine (William Hurt) is a seedy local attorney who becomes involved with Mary Ann (Kathleen Turner), a beautiful woman he knew in high school who’s now married to a wealthy bigwig (Richard Crenna). In no time, the seductive and manipulative dame has Ned wrapped around her finger, using him as a tool in a complex, murderous scheme that will lead to her dream of fortune in an exotic land. Filled with steamy intrigue and a scene-stealing supporting cast that includes Ted Danson and Mickey Rourke, this is a suspense drama that can be savored even by those who never saw Double Indemnity.

Blue Crush (John Stockwell, 2002): Going to the beach has long been a huge part of the season, and the colors of sun-blasted seas are vividly featured in this breezy, underrated surfing drama. The movie follows the summer adventures of a group of young women in Hawaii as they hit the sand, experience the highs and lows of love, and search for the ultimate wave. Chief among them is Anne Marie (Kate Bosworth), whose determination to take part in the local surfing contest is complicated by her relationships with her rebellious little sister Penny (Mika Boorem) and no-nonsense best friend Eden (Michelle Rodriguez). Acted by a delightful ensemble and directed with verve and surprising sensitivity, the movie skillfully mixes the emotions of young romance with the dangerous bliss of the sport.

The Day After Tomorrow (Roland Emmerich, 2004): It’s not uncommon during summer for movie theaters to serve as air-conditioned sanctuaries for audiences trying to get away from the heat. To double the cooling sensation, you can’t go wrong with this climate-tweaking, fast-paced science-fiction hit, courtesy of genre specialist Roland Emmerich (“Independence Day”). The story centers on Jack Hall (Dennis Quaid), a climatologist who discovers evidence that a new Ice Age is upon civilization due to abrupt changes in temperature. While scrambling to rescue his estranged son Sam (Jake Gyllenhaal) in Manhattan, he encounters brutal, sudden snowstorms and gelid oceans. Can humanity make it through the freezing disaster? Filled with blockbuster special effects and disaster-movie action, this is an apocalyptic thrill-ride that at its best can give viewers a literal chill.

Cloudy with a Chance of Meatballs (Phil Lord & Chris Miller, 2009): And speaking of the weather, how about an animated comedy where clouds are filled with fast food instead of raindrops? Inspired by the popular children's book, the movie is set on a small island-town that's saved from ruin by Dr. Lockwood (voiced by Bill Hader), whose latest invention causes food to literally fall from the skies. As burgers rain from clouds and ice cream comes in blizzards, the place becomes the center of a media storm, affecting such other characters as the town mayor (Bruce Campbell) and a young, perky weathergirl (Anna Faris). But will these strange events bring the townspeople together, or tear them apart? While not as artful as Up, this is a colorful and often hilarious, family-friendly treat.


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News Briefs----

Dubai leasing firm cancels 35 Boeing orders

FDIC sues insiders at failed Georgia bank

Europe Looks for Hope in Bank Test Results

1.17MM homes get foreclosure notices so far/25% Drop

Mortgage rates fall to labor pains

Google quarterly results beat expectations

Skype: The inside story of the boffo $8.5 billion deal

Life after Banking, ex CFO looks for a new job


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Report: NFL players, owners making progress,0,4789546.story


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Tourists saw Calif. man fall into Maui blow hole

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Impact of Oregon Wine Industry on State Economy Nearly Doubles in Five Years

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Early peek at Washington state 2010 vintage

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This Day in American History

    1099- The Muslim citizens of Jerusalem surrendered their city to the armies of the First Crusade. The Crusaders then proceeded, through misguided religious zeal, to massacre thousands of unarmed men, women and children.” The western sources are briskly uncontrite in their descriptions of the carnage, indicating that the chroniclers were no more dismayed than were the perpetrators. But the Muslim world would never forget or forgive the Crusaders' behavior. Jerusalem was a holy city to the Muslims as much as it was to the Christians. The looting of sacred shrines and the slaughter of innocents confirmed the general Muslim opinion that the Westerners were savage barbarians with no faith at all save in blood and wealth.
    1741 - Vitus Bering, a Danish mariner working for Russia, landed on the Alaskan coast.
    1779-birthday of Clement Clarke Moore, American author and teacher, best remembered for his popular verse, “ A Visit from Saint Nicholas,” ( “Twas the Night Before Christmas”), which was first published anonymously and without Moore's knowledge in a newspaper, December 23,1823.  Moore was born at New York, NY, and died Newport, RI, July 10,1863.
    1779-The first medal awarded by the Continental Congress to a “foreigner” was a silver medal present to Lieutenant Colonel Francois Louis Teisseidre de Fleury, who commanded the first of the storming parties in the assault upon Stony Point, NY, on July 15,1779.  He was the first man to enter the main fort and strike down the British flag with his own hands. Fleury, who had been in the French military service, joined the Continental Army in 1777. Lieutenant Colonel Francois Louis Teisseidre de Fleury
    1779-African-American Pompey Lamb, noted spy, aids the American Revolutionary  War effort.” Blacks were also used effectively as spies by the Continental Army. The most notable was Pompey Lamb, who opened the way for the capture of Stoney Point by General Anthony Wayne, on July 15, 1779.”
    1792-the first major bridge built was the West Boston Bridge, connecting Boston, MA, and Cambridge, MA.  It opened November 23,1793 after costing $76,000.   The toll right was granted to the proprietors for 70 years.
    1806 - Zebulon Pike, the U.S. Army officer who in 1805 led an exploring party in search of the source of the Mississippi River, sets off with a new expedition to explore the American Southwest. Pike and his men left Missouri and traveled through the present-day states of Kansas and Nebraska before reaching Colorado, where he spotted the famous mountain later named in his honor. He traveled to New Mexico and then traveled through Texas. The information he provided about the U.S. territory in Kansas and Colorado was a great impetus for future U.S. settlement, and his reports about the weakness of Spanish authority in the Southwest stirred talk of future U.S. annexation. Pike later served as a brigadier general during the War of 1812, and in April 1813 he was killed by a British gunpowder bomb after leading a successful attack on York, Canada.
    1822—public schools for Blacks open in Philadelphia.
    1830 - 3 Indian tribes, Sioux, Sak & Fox, signed a treaty giving the US most of Minnesota, Iowa & Missouri.
    1837 -- US: Smallpox epidemic reaches the Mandan in Dakota Territory; out of 1,600 people, only 125 survive:
Russell Freedman describes the epidemic:
"The Mandans were the first to be stricken, followed in swift succession by the Hidatsas, the Assiniboins, the Arikaras, the Sioux, and the Blackfeet."
In the 17th century, there were 30,000 Narragansett in Massachusetts. Their chief Miantonomo, "sensing danger, . . . sought to build on his Mohawk alliance to create a general Amerindian resistance movement." He is reported to have said to the Montauk in 1642: "We [must] be one as they [the English] are, otherwise we shall all be gone shortly, for you know our fathers had plenty of deer and skins, our plains were full of deer, as also our woods, and of [turkeys], and our coves full of fish and fowl. But these English having gotten our land, they with scythes cut down the grass, and with axes fell the trees; their cows and horses eat the grass, and their hogs spoil our clam banks, and we shall all be starved."
    1850—Birthday of Frances Xavier "Mother" Cabrini - Italian-born U.S. nun. FXC, an amazing organizer, Cabrini was canonized by the Roman Catholic Church.
 She founded 67 institutions such as orphanages, hospitals, and girls' schools and did remarkable work with the poor in major American cities. She is now unique in New York  in being the only saint whose entire body is on display for the faithful. Her body was laid to rest forever under the alter in the Chapel at Mother Cabrini High School. (The saint's head is at another location in Italy.)
    1862-Major David Hunter declares Blacks are no longer slaves in Georgia, Florida, South Carolina.  President Lincoln annuls the order saying basically
it wasn't “official.” The first black troops were organized by Major General David Hunter in the Union's First Carolina Regiment.  Many of the soldiers were former slaves. In August, General Jim Lane, an abolitionist and who some called and outlaw and renegade, over the opposition of Secretary of War Edwin Stanton, organized a black regiment in Kansas. General Benjamin Butler also reversed his position and decided to recruit free blacks, however, no one asked the recruits whether they had been free men of slaves before the war. Despite War Department specific approval, General Butler quickly mustered into federal service the 1st, 2nd, and 3rd Regiments of the Louisiana Native Guards. It was reported that the commanders of the units had offered their services to the Confederacy and was turned down. The leaders, Free Persons of Color, were wealthy, well educated, property owners, and some were slave owners, and at the time while offering their services to the Confederacy were afraid the Union forces would confiscate their property. 
    1867---Birthday of Maggie Lena Walker - U.S. banker. She was the daughter of a former slave who devoted her time to black fraternal and cooperative insurance organizations.   Through her very keen business acumen, MLW created one of the greatest black- owned banks in the nation, the Penny Savings Bank in Richmond, Va.
    1904-Birthday of Dorothy Fields - U.S. lyricist and producer who was elected to the Songwriters' Hall of Fame in 1971, the first woman so honored. Some of her songs are "I Can't Give You Anything But Love," "On the Sunny Side of the Street," "I'm in the Mood for Love," "Lovely to Look at," and "The Way You Look Tonight."    The way you look garnered Fields the 1936 Academy Award. She wrote almost 400 songs as well as books for Broadway shows including Annie Get Your Gun.   She won a Tony and Grammy for her work on Redhead (1959). She also produced such Broadway musicals as Sweet Charity and Seesaw.
    1910-birthday of Sam Washboard ( Robert Brown ), famous washboard player, Walnut Ridge, AR
    1913-the first US Senator elected by popular vote was Augustus Octavius Bacon, Democrat of Georgia.  The passage of the 17th amendment to the Constitution called for elections, before that they were appointed by the state legislature.   The first general election by popular vote took place on November 4, 1913.
    1916 - A dying South Atlantic Coast storm produced torrential rains in the southern Appalachian Mountains. Altapass, NC, was drenched with more than 22 inches of rain, a 24 hour rainfall record for the state. Flooding resulted in considerable damage, particularly to railroads.
    1918-General Erich Ludendorff launced Germany's fifth, and last, offensive to break through the Chateau-Thierry salient. This all-out effort involved three armies branching out from Rheims to cross the Marne River.  The Germans were successful in crossing the Marne near Chateau-Thierry before American, British, and Italian divisions stopped their progress. Only July 18, General Foch, Commander-in Chief of the Allied troops launched a massive counteroffensive that resulted in a German retreat that continued in four months until they sued for peace in November.
    1918---HAYS, GEORGE PRICE Medal of Honor
Rank and organization: First Lieutenant, U.S. Army 10th Field Artillery, 3d Division. Place and date: Near Greves Farm, France, 14-15 July 1918. Entered service at: Okarche, Oklahoma. Born: 27 September 1892, China. G.O. No.: 34, W.D., 1919. Citation: At the very outset of the unprecedented artillery bombardment by the enemy, his line of communication was destroyed beyond repair. Despite the hazard attached to the mission of runner, he immediately set out to establish contact with the neighboring post of command and further establish liaison with 2 French batteries, visiting their position so frequently that he was mainly responsible for the accurate fire. While thus engaged, 7 horses were shot under him and he was severely wounded. His activity under most severe fire was an important factor in checking the advance of the enemy.
    1919- legendary bebop pianist Sadik Hakim was born in Duluth, Minnesota. In the 1940's, Hakim played in New York with Ben Webster and Lester Young, and recorded with Charlie Parker. Hakim moved to Montreal in 1949 and played with Louis Metcalf's International Band. After further stints in the US with such musicians as James Moody and Buddy Tate, Hakim returned to Montreal in 1966. He was a frequent performer in both Montreal and Toronto, and on CBC radio broadcasts. Hakim became a Canadian citizen in 1972 before returning to New York four years later. He died on June 20th, 1983.
    1923-Drummer Philly Joe Jones birthday
    1928-birthday of saxophone player Joe Harriott, Kingston, Jamaica
    1929—birthday of guitarist/author Francis Bebey.
    1939-- National League president Ford Frick orders two-foot screens affixed inside all foul poles after Billy Jurges of the Giants and umpire George Magerkurth spit at each other after a foul ball call down the left field line is disputed at the Polo Grounds. The American League will soon follow the Senior Circuit lead and will also install foul ball screens.
    1941-Glenn Miller, with Modernaires, cuts “Juke Box Saturday Night.”
    1944--*OTANI, KAZUO Medal of Honor Staff Sergeant Kazuo Otani distinguished himself by extraordinary heroism in action on 15 July 1944, near Pieve Di S. Luce, Italy. Advancing to attack a hill objective, Staff Sergeant Otani's platoon became pinned down in a wheat field by concentrated fire from enemy machine gun and sniper positions. Realizing the danger confronting his platoon, Staff Sergeant Otani left his cover and shot and killed a sniper who was firing with deadly effect upon the platoon. Followed by a steady stream of machine gun bullets, Staff Sergeant Otani then dashed across the open wheat field toward the foot of a cliff, and directed his men to crawl to the cover of the cliff. When the movement of the platoon drew heavy enemy fire, he dashed along the cliff toward the left flank, exposing himself to enemy fire. By attracting the attention of the enemy, he enabled the men closest to the cliff to reach cover. Organizing these men to guard against possible enemy counterattack, Staff Sergeant Otani again made his way across the open field, shouting instructions to the stranded men while continuing to draw enemy fire. Reaching the rear of the platoon position, he took partial cover in a shallow ditch and directed covering fire for the men who had begun to move forward. At this point, one of his men became seriously wounded. Ordering his men to remain under cover, Staff Sergeant Otani crawled to the wounded soldier who was lying on open ground in full view of the enemy. Dragging the wounded soldier to a shallow ditch, Staff Sergeant Otani proceeded to render first aid treatment, but was mortally wounded by machine gun fire. Staff Sergeant Otani's extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.M 
    1946- singer Linda Ronstadt was born in Tucson, Arizona.  
She first gained attention in 1967 as a member of a trio called the Stone Poneys. That was the year she had a top 20 hit with "Different Drum," a song written by Mike Nesmith of the Monkees. The Stone Poneys soon broke up, and Ronstadt's solo career floundered for nearly five years until Peter Asher, formerly of the British duo of Peter and Gordon, became her manager. Under Asher's direction, she recorded the album "Heart Like a Wheel," a mixture of oldies and contemporary material, in 1974. The LP proved to be her commercial breakthrough, becoming the first of a dozen gold and platinum albums.  
Ronstadt reached the height of her popularity at the end of the 1970's when her LP "Living in the USA" surpassed the million mark in sales. At the time, she was a constant companion of California Governor Jerry Brown.  
Ronstadt continued her success into the '80s with the LP "Mad Love," two popular albums of big band ballads and "Cry Like a Rainstorm, Howl Like the Wind," a collaboration with Aaron Neville
    1948—Today in History salutes General John J. Pershing, only the second commander of the armies, World War I hero,  also known as “Black Jack” for having one of the first segregated army units in 1886, especially for his open admiration for the African-Americans under his command.
    1950 - The North Koreans penetrated the U.S. 24th Infantry Division's defense and crossed the Kum River. The 19th Infantry Regiment lost 20 percent of its fighting force, the 1st Battalion alone losing 338 out of 785. The 63rd Field Artillery Battalion was overrun and sustained heavy casualties.
    1950 - F-80s accounted for 85 percent of the enemy's losses to air attack. Far East Air Forces Commander, Lieutenant General George E. Stratemeyer, stated that he wouldn't trade the F-80 for all the F-47s and F-51s he could get. "It does a wonderful job in ground support and can take care of the top-side job if enemy jets appear."
    1952-- An eight-year-old singer named Gladys Knight appears on the popular TV show Ted Mack's Amateur Hour, show on the now-defunct Dumont Television Network, and wins the first prize of $2000 for her rendition of Nat King Cole's "Too Young." In five years, she would be an established recording artist.
    1952- Popular singer Patti Page begins her summer replacement series on CBS, attempting to hold the audience in Perry Como's usual timeslot three times a week for 15 minutes.
    1954 - The temperature at Balcony Falls, VA, soared to 110 degrees to establish a state record
    1956---Top Hits
The Wayward Wind - Gogi Grant
My Prayer - The Platters
Hound Dog/Don't Be Cruel - Elvis Presley
I Want You, I Need You, I Love You - Elvis Presley officially opened by the Queen. A gala concert by the Vancouver Symphony Orchestra was conducted by Sir Ernest MacMillan and Nichol 
    1957- Elvis Presley's "(Let Me Be Your) Teddy Bear" b/w Loving You" hits #1
    1959- the Queen Elizabeth Theatre in Vancouver was as Goldschmidt, with soloists Betty-Jean Hagen, violin, and soprano Lois Marshall. The theatre was actually first used four days earlier for a concert by the Vancouver Symphony.
1960 Giant Willie McCovey 'invisible triple' causes the umpires to call a twenty-four minute fog delay at Candlestick Park, but the Dodgers go on to win 5-3.1963-Count Basie and Ella Fitzgerald record “ Ella and Basie” album for Verve, oneof Barbara Lowe's favorites.
    1963-Elvis begins filming the movie Viva Las Vegas with Ann-Margaret. 
    1964---Top Hits
I Get Around - The Beach Boys
Memphis - Johnny Rivers
Rag Doll - The 4 Seasons
My Heart Skips a Beat - Buck Owens
    1965 - The unmanned spacecraft Mariner 4 passes over Mars at an altitude of 6,000 feet and sends back to Earth the first close-up images of the red planet.
    1966 - Singer Percy Sledge earned a gold record for "When a Man Loves a Woman". It was his only song to make it to number one (5/28/66) and the only one of five to break into the top ten. 
    1968-A Soviet Aeroflot jet landed at Kennedy  Airport at New York, NY, and the start of direct commercial air flight between the US and the then USSR began.
    1968-“One Life to Live” premiered on TV.  Set in a fictional Pennsylvania town, the show was created by Agnes Nixon to depict the class and ethnic struggles of the down's denizens. The initial cast featured many Jewish, Polish, and African American characters. The show departed from inter-ethnic storytelling in the 1980's for far more fantastic adventures set in locals such as heaven, the old west, and a futuristic mountain silo called Eternia. Since then, the show has returned to its strengths of traditional storytelling by featuring Latino  and African American actors as integral characters.  Award-winning actress Erika Slezak heads the cast a the venerable Viki Lord Riley Buchanan Carpenter, the town's matron with five alternate personalities.  Among those who have appeared on “OLTL” are Tom Berenger, Judity Light,Robert Desiderio, Tommy Lee Jones, Laurence Fishburne, Jameson Parker, Phylis Rashad, Christine Ebersole, Richard Grieco, Blain Underwood, Joe Lando, Audrey Landers, Christian Slater and Yasmine Bleeth.     
    1968 - Intel was founded. Robert Noyce and Gordon Moore had left Fairchild Semiconductor to form NM Electronics in Mountain View, Ca. In 1997 Tim Jackson published "Inside Intel: Andrew Grove and the Rise of the World's Most Powerful Chip Company." Grove joined Intel in this year and became its president in 1979. They bought the rights to the name Intel from Intelco for $15,000.
    1969--Jul 15,-Jul 20, 1969 B.B. King, Elvin Bishop Group, Love Sculpture, Country Joe & the Fish Joe Cocker & The Grease Band, @ San Francisco Fillmore West.
    1971 - In a surprise announcement, President Richard Nixon says that he will visit Beijing, China, before May 1972
    1972- Elton John's Honky Chateau hits #1
    1972---Top Hits
Lean on Me - Bill Withers
Too Late to Turn Back Now - Cornelius Brothers & Sister Rose
Brandy (You're a Fine Girl) - Looking Glass
Made in Japan - Buck Owens 
    1973-San Francisco Giant's Willie McCovey becomes 15th to hit 400 HRs.
    1973- Angel Nolan Ryan pitches his second no-hitter of the season defeating the Tigers, 6-0 in front of 41,411 fans in Detroit. Ump Ron Luciano doesn't permit Norm Cash to use a piano leg instead of a bat in the ninth inning.
    1980- pop stars Linda Ronstadt and Rex Smith opened at the New York Shakespeare Festival in a production of Gilbert and Sullivan's "The Pirates of Penzance." The production moved to Broadway in 1981, and Ronstadt and Smith both starred in a later movie version.  
    1980---Top Hits
Coming Up - Paul McCartney & Wings
It's Still Rock & Roll to Me - Billy Joel
Little Jeannie - Elton John
You Win Again - Charley Pride
    1986- Columbia Records dropped country star Johnny Cash after 28 years. Cash had not had a solo top-ten hit since "The Baron" in 1981. But he was a member of "The Highwaymen" quartet with Waylon Jennings, Willie Nelson and Kris Kristofferson that hit the top of the country charts in 1985. Cash signed a new recording contract with Polygram later in '861987 - Unseasonably cool weather spread into the south central and eastern U.S. Fifteen cities reported record low temperatures for the date, including Houghton Lake, MI, with a reading of 37 degrees. The high temperature for the date of 58 degrees at Flint, MI, was their coolest of record for July. Thunderstorms spawned several tornadoes in Illinois and Indiana, injuring a cow near Donovan, IL
    1988-- For the second time this season, Red Sox fireballer Roger Clemens strikes out sixteen Royals. The doubleheader sweep over Kansas City marks Joe Morgan's Boston managerial debut.
    1988---Top Hits
The Flame - Cheap Trick
Mercedes Boy - Pebbles
Pour Some Sugar on Me - Def Lappard
Fallin' Again – Alabama
    1988 - Twenty-six cities east of the Mississippi River reported record high temperatures for the date. Charleston, WV, established an all- time record high with a reading of 103 degrees, and Chicago, IL, reported a record fifth day of 100 degree heat for the year. A severe thunderstorm moving across Omaha, NE, and the Council Bluffs area of west central Iowa spawned three tornadoes which injured 88 persons, and also produced high winds which injured 18 others. Winds at the Omaha Eppley Airport reached 92 mph. Damage from the storm was estimated at 43 million dollars.
    1989- more than 200,000 people crammed into Venice, a city of 83,000, for a free concert by Pink Floyd. The band performed on a floating stage in the Venice lagoon. Residents complained about violence, drug use and littering, and 80 people were slightly hurt in a scuffle before the show began. Concert-goers complained, too ... about inadequate toilets and emergency facilities. 
    1989 - Thunderstorms drenched Kansas City, MO, with 4.16 inches of rain, a record for the date. Two and a half inches of rain deluged the city between Noon and 1 PM. Afternoon thunderstorms in South Carolina deluged Williamstown with six inches of rain in ninety minutes, including four inches in little more than half an hour
    1993-- Breaking Cub Hall of Fame Ernie Banks' previous record of 277, Cal Ripken hits his 278th homer as a shortstop, the most ever hit by a major leaguer playing that position.
1994-the first move to cost more than $100 million to make was “True Lies,” a 20th Century-Fox action-adventure film directed by James Cameron and starring Arnold Schwarzenneger and Jamie Lee Curtis.  It opened nationwide on July 15.  Though exact figures were not released by the studio, the film was estimated to have cost $115 million.
    1996- The sultan of Brunei spent $25 million on his 50th birthday party, including $15 million for three concerts by Michael Jackson
    1997 - Fashion designer Gianni Versace was shot to death on the steps of his mansion in Miami Beach, Florida. Police believe Andrew Phillip Cunanan shot Versace. Cunanan committed suicide a week later on a houseboat about two miles north of the Versace mansion. Cunanan is suspected of killing four other men in a cross-country shooting spree. 
    1999--- The Brewers postpone game as a gesture of respect for the three workers who died when a huge crane collapsed lifting a portion of the roof for the team's new stadium, Miller Park. The crane broke in half as it lifted the 400-ton load damaging the partially completed stadium.
    1999-The Rolling Stones reported that they had an intake of over $337 million from the previous two years. The average nightly take on the 147 shows was over $2¼ million, as the band played to more than 5.6 million people, selling out all but 20 shows.
    2000- Bob Seger's 62-foot boat Lightning wins its division in the 78th annual sailboat race from Port Huron to Mackinac Island, MI.
    2000 --The American Tobacco Company's near-mint condition 1909 Honus Wagner card goes for $1.1 million in an eBay online auction; the high bidder will pay $1.265 million including a 15 percent buyer's premium for the 91 year-old card of the Hall of Fame Pirate shortstop.
    2009-Paul McCartney took time out from his current tour to stop by The Late Show with David Letterman where he and his band thrilled the crowd by performing at the outdoor stage atop the Ed Sullivan Theater.





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