Add me to mailing list    |           |      Search

Advertising | All Lists | Archives | Classified Ads | This Day In American History



Monday, July 2, 2007

Happy Fourth of July


Next Edition: Monday, July 9th
    Classified Ads---Senior Management
        PCB Leasing sale---Let’s correct some rumors
        by Christopher Menkin
Brad Christensen—Remember Me?
    Where is Mike Bennie?
        IFC Credit loses another NorVergence lease
Story Credit List Up-dated
    Largest Banks, Thrifts, Mortgage Lenders
        Classified Ads--- Help Wanted
Top Stories--June 25-June 29
    New Address/Telephone for ELFA
        Leasing 102 by Mr. Terry Winders, CLP
        “Co-Lessee vs. Personal Guarantee”
Cartoon—Lucky the Dog
    Yahoo gains on Google
        Internet Closing In On TV
            NACM Credit Manager Index Positive
OneWorld Leasing Adds Two New Members
    Nitzsche/Gutmann new VP's U.S.Bank
        Stump and Preston join U.S. Bank
            SBA Poll Equpiment Finance Popular
                ELFA Files Amicus Briefs
Trinity Railcar Leasing Transaction
    Marquette in health care finance field
        News Briefs---
You May have Missed---
    California Nuts Brief---
        "Gimme that Wine"
Calendar Events
    Snapple Real Facts
        Today's Top Event in History
    This Day in American History
Baseball Poem
        Daily Puzzle

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


Next Edition: Monday, July 9th

Maria Martinez-Wong becomes acting editor as Kit Menkin goes on vacation without his lap top.



Classified Ads---Senior Management

Atlanta, GA
Strong sales and leadership skills; demonstrated with sales training and sales performance. Lead team in both regional and national operations and developed marking programs.

Philadelphia, PA
27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries.

Syracuse, NY
Int. equip. leasing exec. 25 yrs global P&L sr. mngt., including corporate turnarounds, strategic planning, new biz dev., structure finance, contract neg., vendor leasing specialist.

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

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



PCB Leasing sale---Let’s correct some rumors

by Christopher Menkin

Actually got side tracked from this as Pacific Capital Bank Senior Vice-President Paul Menzel, CLP, was adamant that he was not lying, just not telling the truth because it wasn’t “official.” The direct
quote used in the story was: “"How can you believe such a rumor, Kit. It's not true."

Nevertheless, both Paul and I were just doing our job as we saw it, this time we were on opposite sides of the table. It was then a handicap to let readers know the “inside.” Here is some of it:

It is not true that Jim Merrilees, CLP, left to join QuikTrak as president because the PCB credit scoring system was not producing the desired results. He was presented with a great opportunity and took it. He obviously also had knowledge that the division was for sale. Merrilees is like a cat, he always lands on his feet. One lucky fellow. And he has a few lives left.

It is true that Alta was selected because they had a consulting relationship revising PCB's credit scoring system after it became evident that the credit scoring system was not producing the desired results.

Alta Managing Principal John C. Deane, in a press release, said “...a number of factors contributed to the efficient and successful sale: (1) senior management of this lease origination unit is seasoned and well regarded for its positive track record; (2) the transaction moved to an exclusive basis very quickly because the consultants are known and trusted; and (3) Alta provided due diligence--well beyond industry norms to include a thorough analysis of every facet of operations, business culture, models, products, practices and systems. He said their working knowledge in this industry was invaluable.”

Leasing News said the selling price was a “steal:”” ...purchase price equal to 104.7643% of the Bank's net investment in the equipment lease assets. The aggregate purchase price is estimated to be approximately $280 million.”

Dean told Leasing News,” the gain on sale was approximately $20 million.

“The fact that the buyer was well known and highly thought off was also a major consideration. LEAF has an excellent reputation and their performance in this transaction supported that reputation.
This really was a win-win-win situation. The seller made a strategic decision to sell; the buyer made a strategic decision to buy and the leasing division continues intact in an attractive new "home". And, the transaction was completed with blazing speed.”

Leasing News believes the sale price would have been higher if there had been a competitive sale. The Alta Group press release mentioned sending the offer to a select group for a short period of time, but
the fact is LEAF convinced PCB that they should be given the right to make a pre-emptive bid, and other interested parties were closed out of the competition. Leaf Financial CEO DeMent definitely had a successful track record, view the Leaf Financial web site, and was (is) a very smart negotiator. What is that old saying, “The person with the gold makes the rules.”

“We represented the seller in this transaction; it was the seller's decision to consider a pre-emptive bid (we supported that decision),”
Dean told Leasing News.

“The fact that Alta and Fairview, both industry experts, were the advisors in this transaction was a material value add in my opinion I disagree with your characterization of the deal as a ‘steal’ or ‘take it or leave it’. In fact the seller received a substantial premium as they have publicly reported. We were directly involved in the price discussions and negotiations. It is our opinion that the final price and conditions were a near perfect balance for the interests of the seller and the buyer.”

Leasing News asked Crit Dement, CEO of Leaf Financial to make
a comment, but was told he was too busy “closing out our fiscal quarter, and as you can imagine, it’s a very hectic time especially because of transitioning Pacific Capital Bank into the LEAF family.”

Regarding the $100 million in new business a year, Leasing News was told:

“I think what you missed in that statement is that LEAF expects future additional originations to be in excess of $100M. But as the SEC statements show, the existing portfolio LEAF purchased was for $279M+. Here’s the exact quote from the press release.

“The new LEAF Third Party Funding Group will continue to operate from Santa Barbara, CA and is expected to originate in excess of $100 million of additional lease assets for LEAF investment vehicles in fiscal 2008.”

Leasing News still does not understand that from the SEC filings, Pacific Capital Leasing in the thousands:
2006: $297,525
2005: $287,504
2004: $234,189
2003: $149,642
2002: $133,927

No one is talking, including the officers who have a vested interest in the SBBT remuneration plan, but PCB Leasing is worth more than $20 million, as was NetBank Finance Leasing and even Marlin Leasing, even though their sales are reportedly down.
(June wasn’t very good, Leasing News was told.)

The Leaf Financial press release did not mention the Alta Group.

“FairView Advisors specializes in Mergers and Acquisitions, and finding private equity and debt financing as well as strategic advisory work for companies in select industries, including financial services, biomedical and healthcare, manufacturing, information technology, telecom and wireless as well as sports and media. The company is headquartered in Naples, Florida with offices in New Jersey, Pennsylvania and California. For more information visit the company's website is or contact Don Jay Smith at 908-832-1020.”

“We each agreed that each of us would handle our press release separately, “ John Dean responded. “Nothing nefarious.”

Very interesting from Dean that the Alta Group wants to do more of these type situations.

“Alta is active in providing advisory and consulting services to both buyers and sellers of equipment leasing and financing companies and portfolios both in the U.S. and worldwide. A few examples:
    1. Nisho Iwai (Japanese): U.S. leasing company sale in early 2000's
    2. Flexirent (Australia): small ticket leasing company; IPO in 2006
    3. Financial Pacific: advised buyer in 2005
    4. Direct Capital: advised buyer in 2006
We intend to grow our presence is this space significantly.”

It is true that each of the groups sent out their own press release, including Pacific Capital Bank, which was different than Leaf’s.

Please also note Sr. VP Paul Menzel, CLP’s, comment about the role of the Alta Group in the press release that follows.

As to Santa Barbara Bank and Trust being a collection of community banks, that is also true and the growing direction of the leasing division had perhaps “outgrown” the bank. Here is a report on
the sale by Keefe, Bruyette & Woods, “Specialists in Financial Services:”

Before going into the Alta Group press release, it should be pointed out just like McCue and NetSol “merger,” these players all know each other from their networking, volunteering, committee assignments, and friendship made through the Equipment Leasing and Finance Association. It again
shows the value of belonging to a leasing association (and activity also in several leasing associations.) The message here: get involved.


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

The Alta Group’s Industry Knowledge

Enables Efficient Sale of Bank Leasing Unit

Transaction closes in just 12 weeks. Alta consultants’ due diligence, contacts and knowledge set stage for win-win deal

THEALTA GROUP.COM—June 27, 2007—The Alta Group, international consultants in equipment finance and leasing, demonstrated its commitment to merger and acquisition advisory services in its successful management of the sale of Pacific Capital Bank’s small-ticket leasing unit last week to LEAF Financial Corporation. The sale closed June 22, only 12 weeks from the time that Alta was engaged by the bank to represent them.

    Alta Managing Principal John C. Deane said a number of factors contributed to the efficient and successful sale: (1) senior management of this lease origination unit is seasoned and well regarded for its positive track record; (2) the transaction moved to an exclusive basis very quickly because the consultants are known and trusted; and (3) Alta provided due diligence--well beyond industry norms to include a thorough analysis of every facet of operations, business culture, models, products, practices and systems. He said their working knowledge in this industry was invaluable.

    Alta issued the opportunity to a select group of targeted potential buyers and within days LEAF Financial Corporation, of Philadelphia, Pa., made an attractive bid and the seller suspended discussions with other bidders, Deane said.

The $280 million transaction included Pacific Capital’s small-ticket equipment leasing portfolio, along with operations, personnel and management systems.

“The bank wanted to reposition its lines of business to core banking and relationship lending; the equipment leasing portfolio was among the lines of businesses it planned to exit,” Deane said.

    LEAF Financial Corporation, of Philadelphia, Pa, welcomed Paul J. Menzel, CLP, and his team into the new organization now called the LEAF Third Party Funding Group, which will remain based in Santa Barbara, Calif.

    “Alta was a godsend because they provided the leasing industry perspective, expertise and contacts to Pacific Capital Bancorp that the bank would otherwise not have had,” said Menzel, who led the bank leasing unit for 10 years.

“Their knowledge and understanding was crucial to the success because they developed a strategic offering, rather than just a portfolio of financial assets. They presented the opportunity in a way that the industry would understand.”

Menzel also noted that considering the size of the deal it was very fast and smooth. “I heard this from all parties involved.”

Alta was selected over traditional investment banking firms to serve as advisors because Pacific Capital realized it could derive strong strategic value when potential buyers understood the true value of this unit, Menzel said.

It was a good strategic fit for LEAF, which he characterized as both entrepreneurial and professional and with a tremendous desire to grow.

    Pacific Capital Bank reports $7.4 billion in assets, including a wide array of financial products. The Monitor noted that had the transaction closed before the Monitor 100 ranking was published, the combined assets would have put LEAF at #51, rather than #65, as reported in this year’s ranking.

About The Alta Group:

The Alta Group is a global consultancy serving equipment leasing and finance companies, investment professionals, manufacturers, banks and government organizations. Founded in 1992, The Alta Group supports clients in North America; Latin America; Western, Central and Eastern Europe; Australia and China. For more information, please visit

(Sean Halladay, Senior Partner of the Alta Group is on the Leasing News Advisor Board. It should be noted that Paul Bent, Alta Group partner, is a frequent contributor to Leasing News. In addition,
we acknowledge the high esteem of the group as well as its president John Dean, extremely well respected in the banking, financial, and leasing communities. Editor)


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

Brad Christensen—Remember Me?

Brad Christensen sent out a flyer to all leasing brokers wanting them to remember the former Jim Harris’s Alco Leasing, Portland, Oregon, now part of the Leaf Financial Corporation and using that name. They specialize in the $100,000 to $1,000,000 “consistent and ‘common sense’ approach to underwriting your transactions.”

“You may have heard the news on the recent acquisition by LEAF
Financial Corporation of the small ticket leasing division of Pacific Capital Bank, N.A. (aka Santa Barbara Bank and Trust.) We are excited about the development as it should increase our ability to serve you with a more complete range of leasing products.”

“Call Brad Christensen on your next deal.”




Former Marlin Leasing VP Broker Division Michael Bennie

“What! Me Worry?”

Not true that Mike Bennie (etc.) is going to Pacific Capital Bank Leasing, nor is it a large company
as he has had his fill, he says , of the large companies like Advanta and Marlin.

Stay tuned. The week of July 9th he will issue an announcement.
He says it will be a real surprise.



IFC Credit loses another NorVergence lease

At the time NorVergence filed bankruptcy there were 1600 unassigned leases, and perhaps up to 3,000 not connected at all yet to the NorVergence “telephone network.” At one time John Estok, President of the small ticket division of IFC Credit Corporation, Morton Grove, Illinois, tried to claim those not connected. Later the FTC called the company on it, and when Leasing News questioned IFC Credit, their attorney threatened to sue us.

This is a typical lease and why IFC Credit would take the lessee to court makes no common sense, as the testimony in the case shows that there are not only questions about signing of the lease,
several times, but while the Matrix box was delivered, it was never connected, nor did NorVergence or even IFC Credit bill the customer. Now why this one went to court, or the one in California
where the officer of the corporation never signed the papers, is surprising at best.

There certainly is more to the story, and it is told in the court judgment against IFC Credit:

Case is dismissed:

Questions may be directed to Steven D.Cundra, Roetzel & Andress, Washington, D.C., who represented Burton Industries.

Steven D.Cundra
Roetzel & Andress
1300 Eye Street, NW
Suite 400 East
Washington D.C. 20005
Direct Dial (202) 216-8301
Main Phone (202) 625-0600
Cell (202) 255-3841 Domestic
Cell (202) 215-3950 International
Fax No.: (202) 338-6340



Story Credit List Up-dated

These companies specialize in "C" and "D" credits, often news businesses, or businesses where the principal(s) have Beacon score around 600 or previous difficulties; meaning to become comfortable with the credit and financial situation you need to learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. Many of these companies may also be a "B," but appear otherwise without the "story" to understand the full financial picture.

(To qualify for this list, the company must be a funder and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. We reserve the right to not list a company who does not meet these qualifications.)

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged.

Alphabetical list - click on company name to view more details
ABCO Leasing, Inc. Boston Financial & Equity Corp. Mesa Leasing, Inc.
Advantage Funding Calfund, LLC North South Leasing
Agility Solutions Cobra Capital LLC Pawnee Leasing Corporation
Allegiant Partners Incorporated Dakota Financial Radiance Capital, LLC
American Leasefund, Inc. Dolsen Leasing Company Sterling Financial
Bankers Capital Financial Pacific Leasing Summit Leasing, Inc.
Barrett Capital Corporation Forum Financial Services, Inc. TEAM Funding Solutions
Black Rock Capital Gonor Funding TechLease, L.L.C.
Blackstone Capital Partners, L.P. IFC Credit Corporation  

To see all lists, please go here:



Largest Banks, Thrifts, Mortgage Lenders


Ranked by 2006 assets 
1.  Comerica Inc. : $58,001.0 million 
2.  LaSalle Bank Midwest N.A. : $49,751.5 million 
3.  Flagstar Bancorp Inc. : $15,464.8 million 
4.  Citizens Republic Bancorp : $14,008.4 million 
5.  National City - Southeast Michigan : $8,305.5 million 


Ranked by 2006 residential loan volume 
1.  Flagstar Bancorp Inc. : $18,966.4 million 
2.  Quicken Loans/Rock Financial Inc.: $18,000.0 million 
3.  LaSalle Bank Midwest N.A. : $2,511.0 million 
4.  Chase : $900.0 million 
5.  National City - Southeast Michigan : $505.6 million 




Leasing Industry Help Wanted

EFD Marketing Specialist

EFD Marketing Specialist
Walnut Creek, CA

You will serve as a liaison between the department’s equipment leasing brokers and internal staff. Requires a BA or 3 years of relevant experience. CLICK HERE for a detailed description and resume submission



Top Stories--June 25-June 29

Here are the top ten stories most “opened” by readers last week:

(1) Paul Menzel, CLP: “I didn’t lie”

(2) Huntington Bank sued by leasing companies

(3) Notice: Two CLP’s Calculators

(4) Pacific Capital Bank stock-Uh-OH!!!

(5) Leasing Industry remains “sluggish”

(6) Leasing 102 --by Mr. Terry Winders, CLP
"Software leasing and the UCC"

(7) Hope Bob Jacobson and family are okay
Strong wind kicks up: Several days of gusty weather predicted
- blaze crosses containment line—

(8) $600,000 CMC Plea Bargain

(9) Sales makes it Happen---by Steve Chriest
“Morale Busters”

(10) (tie)
Butler replaces Mitsui line w/Israeli Bank

(10) (tie)
How did Warren Capital bring $350MM N Bay?

Not counted due to technical difficulties, but highly read:
- Bob Jacobson and family okay -
South Lake Tahoe, California Fire



New Address/Telephone for ELFA

Effective today, July 2, 2007

Equipment Leasing and Finance Association
1825 K Street NW, Suite 900
Washington, DC 20006
(202) 238-3400
Fax: (202) 238-3401

The address for sending registrations and payments to ELFA has NOT changed.
That address is still:

Equipment Leasing and Finance Association, Inc.
PO Box 34733
Alexandria, VA 22334-0733

eMail and web address still the same



Leasing 102

by Mr. Terry Winders, CLP

Co-Lessee vs. Personal Guarantee

We lease to a large number of small and medium size companies where the principle owner or a small group of individuals controls the company. In these transactions it is wise to request guarantees because as a lease we are precluded from requesting additional collateral or placing restrictive covenants, or indentures, in the lease. While this is acceptable in bargain purchase option leases, there is no language in a lease agreement that allows for these issues. Therefore additional documents are required or we move on to requesting additional payments or security deposits.

When it is not possible to obtain additional monies to secure the transaction we request personal guarantees. The usual reason they are requested in good credit companies is to allow the owners complete freedom of movement of their assets. Without the guarantees and total control over the company it is possible to transfer all the companies’ assets out of the companies name into their personal capital and bankrupt the shell of the remaining company. This would leave the lessor holding the bag with the exception of the leased equipment.

Personal guarantees can some times be more of a burden than a help because some States require you to first take all actions against the lessee including repossession, sale and litigation for the deficiency prior to taking any action against the guarantors. In these States it is better to request a business guarantor to sign as a co-lessee instead of a guarantor. This allows you to request the co-lessee to perform all of the requirements of the lessee including requesting past due payments, providing insurance coverage and paying any assessed taxes.

The language for a co-lessee is usually better on a separate document rather than having them sign on the lease itself. This allows for a clear presentation of their obligations such as:

1.     Each representation and warranty made herein by Lessee shall be deemed to have been made by Co-lessee; each covenant and undertaking herein on the part of Lessee shall be deemed individually applicable with respect to Co-Lessee; and each event constituting an Event of Default under the Lease shall be determined with respect to Co-Lessee. A separate action or actions may be brought and prosecuted against either Lessee or Co-Lessee whether an action is brought against any other party or whether any other party is joined in any such action or actions. Co-Lessee waives any right to require Lessor to: (a) proceed against any other party: (b) proceed against or exhaust any security held by Lessor from any other party; or (c) pursue any other remedy in Lessor's power whatsoever. Notices hereunder required to be provided to Lessee shall be effective if provided to either such party. Any consent on the part of Lessee shall be effective when provided by either such party, and Lessor shall be entitled to rely upon any notice or consent given by either such party as being notice or consent given by both such parties.

This is only part of the Co-Lessee document but it shows the Co-Lessee that they have complete responsibility for the lease and it frees you to press you claims against both parties.


Please note another column by Mr. Winders regarding personal guarantees:

"GUARANTIES: For Your Consideration"
by Barry Marks & Ken Weinberg

"More on Equipment Guarantees"
by Barry Marks & Ken Weinberg

Previous #102 columns:

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





Yahoo gains on Google

According to, "...May 2007 results show Yahoo at 11.37% of worldwide search market share, up from 9.87% in April. Yahoo hasn't been at this level since October of 2006.

"So who took the loss to match Yahoo's gains? Google. Their US search engine has fallen from 53.38% in April of worldwide search market share down to 51.71% in May. The loss almost perfectly matches Yahoo's gain.

The bigger questions are what is Yahoo doing now to regain this share, and can they continue?"

The competition is good for the users. There are also many other browsers active in the marketplace, but none in the number of users as Google and Yahoo.



Internet Closing In On TV as 'Most Essential' Medium

The Internet has already surpassed television and other media as the "most essential" medium, depending on what age group you fall under. The new Internet and Multimedia 2007 report by Edison Media Research surveyed consumers 12 and older earlier this year and found the Internet (33 percent) is gaining rapidly on television (36 percent) as "most essential."

In a similar study, just five years ago, TV led the Internet by a wide margin, 39 to 22 percent. Radio netted a 26 percent "most essential" response in the 2002 study.

The Internet is rated most essential by a majority in the 12 to 44 year old age groups; while the older age brackets skew toward television as most essential giving TV the overall edge -- for now.

"With Web 2.0 and access to the Internet on different devices, like the iPhone where you can have the Internet in your pocket, there's no way for interest in the Internet to go anywhere but up," Jason Hollins, vice president at Edison Media Research, told "In almost every category we surveyed, the Internet has doubled or tripled where in consumer's minds it bleeds into all facets of their lives."

Newspapers won dubious top marks (35 percent) for "Least essential" medium. The Internet, which was tops at 33 percent in 2002, was named by only 24 percent of those surveyed as "least essential." Radio and television were each named least essential by 18 percent of those surveyed.

Radio and TV still tops in some categories.

But the results weren't all a slam-dunk for the Internet. For example, when it comes to learning about new music, radio remains far and away the leading medium, listed by 48 percent of respondents versus the Internet (25 percent) and television (12 percent). But the Internet only had a 9 percent share in 2002, while radio has fallen from 63 percent in 2002.

Television still has a firm grip (62 percent) as the top first source people turn to in the event of a major news story. Again, the Internet has made incursions, eating into what was a 74 percent response for television in 2002. The Internet went from 8 to 18 percent in 2007 as the first source people turn to for coverage of a major news story.

Edison said it conducted telephone interviews over the course of two months, January/February 2007, from a random national sample of 1,855 Arbitron Fall 2006 survey diary keepers, age 12 and older.

Hollins noted that the "beauty and curse or research" is that you stick with the same wording to try and ensure a high degree of confidence in the results and where the trends are heading. "Today there's no confusion about what you mean when you say 'Internet' or 'TV'," he noted.

"But in 2012, if we ask about television, will people still think of it as a box in the living room you sit in front of, or will television and the Internet morph into each other?"


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

NACM Credit Manager Index Positive

Columbia, Maryland: — The seasonally adjusted Credit Manager’s Index (CMI) rose a modest 0.5% in June as a 1.1% increase in the manufacturing sector offset a 0.2% decrease in the service sector. Results throughout the survey showed mostly small changes from the previous month. “The decimated housing market once again weighed heavily on suppliers of building materials in the service industry,” said Dan North, chief economist with credit insurer Euler Hermes ACI. “This condition seems likely to continue, given an increasing supply of homes for sale, sharp declines in housing permits and starts and the unprecedented fall of median year-over-year house prices for 10 consecutive months. Somewhat surprisingly, the manufacturing sector continues to expand on the back of an economy which continues to grow, albeit slowly.” Overall the report was moderately positive, reflecting the state of the economy as a whole.

The manufacturing sector rose 1.1%, chiefly as a result of improvements in sales and bankruptcies. Indeed, one respondent noted that they “have had no customer bankruptcy…” and “…no…collections.” “However,” said North, “it is important to note that the data was mixed as only six of the 10 components rose, and that comments from respondents were somewhat more inconsistent than usual, indicating lack of a definitive consensus opinion.”

The service sector fell 0.2% as modest improvements in new credit applications and the amount of credit extended were outweighed by small decreases in seven of the other eight components. “Once again, the dismal housing market was cited by some respondents as the chief driver of weak performance,” North noted. One respondent stated that, “The housing market is very soft, creating less demand for building materials.” Another noted that, “Regional builders continue to suffer in the deflated housing market,” while a third cited the housing market as the reason its “profits are down.”

On a year-over-year basis, the combined index was unchanged at 57.2%, remaining well above the 50 level indicating economic expansion. The service sector fell 1.7%, perfectly offsetting the rise in the manufacturing sector of 1.7%. “Certainly part of the relative weakness in the service sector stems directly from the decaying housing market which has dramatically affected suppliers of building materials,” North said. “The manufacturing sector index, standing at a solid 58.3%, has been supported by an economy which continues to expand, albeit at a slowing pace.”

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

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

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


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

OneWorld Leasing Adds Two New Members To Its Ranks

OneWorld Leasing Inc. (OneWorld), a national, member-driven business cooperative for independent equipment leasing and finance companies, has added Target Equipment Leasing, Inc. (Target) of Farmington Hills, Michigan and Leasing Resources, Inc. (LRI) of Wichita, Kansas to its membership.

“This brings our membership to twenty lessors and brokers” said Ira Romoff, President of OneWorld. He continued, “While our members are small individually, collectively we cover the entire U.S. and will lease and finance in excess of one quarter $Billion worth of equipment in 2007.”

Linda Jolicoeur founded Target in 1985 and specializes in small ticket leasing for the franchisee market. This has led Target into financing trucks, construction, machinery and general office equipment. Linda is an experienced leasing professional and has been an influential leader in the tax arena in Michigan.

“I am pleased to be part of the OneWorld family and look forward to expanding my already wide range of funders,” said Ms. Jolicoeur.

Bill Mapes began LRI in 1989 and 80% of his business relates to agriculture. He is a Certified Machinery & Equipment Appraiser and acts as a Super Broker for those in need of Ag financing.

Bill is a big addition to OneWorld and he states “I look forward to my membership in OneWorld and helping the cooperative grow while LRI also grows.”

OneWorld Leasing, Inc. is a business cooperative that helps independent leasing and finance companies further their common interests and increase their marketing strength and funding power. Its mission is to leverage the volume of the co-op in order to provide its members with services and opportunities that might not be available to them individually. Those services and opportunities include greater access to funding and revenue streams, business services, national vendor programs, and best practice activities. OneWorld operates on a cooperative basis and is owned and controlled by its members. Its motto is STRENGTH IN NUMBERS.

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

Full list of members of the leasing co-op:


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

Nitzsche/Gutmann new VP's U.S.Bank Equipment Finance

CLEVELAND, Ohio and ALTON, Ill. (June 29, 2007) – U.S. Bank Equipment Finance has named Stephen Nitzsche and Daniel Gutmann as vice presidents and area managers for the capital equipment group. Nitzsche is based in Cleveland and covers the central and northern Ohio, western Pennsylvania and western New York markets. Gutmann, based in Alton, Ill., covers southern Indiana, western Kentucky and central and western Tennessee. Both have responsibility for new business development and sales, providing equipment financing solutions to the middle-market through large-corporate companies in their markets.

Nitzsche has more than 20 years of experience in the equipment leasing and finance industry. He worked previously with The CIT Group Equipment Finance, National City Leasing Corporation, Firstmerit Corporation, and Ameritrust Company NA. He holds a bachelor’s degree from Ohio Wesleyan University, Delaware, Ohio.

Gutmann, an 18-year veteran of the financial services and equipment leasing and finance industries, was most recently with the community banking group at U.S. Bank. Prior to U.S. Bank he worked at Commerce Bank, N.A., General Electric Corporation and Mercantile Bank of Illinois, N.A. He earned a bachelor’s degree from Southern Illinois University at Carbondale and is a graduate of the School of Banking at the University of Oklahoma.

U.S. Bank Equipment Finance, one of the largest bank-affiliated equipment finance companies in the nation, has been providing quality equipment finance solutions for more than 35 years. Based in Portland, Ore., it is a major funding source for companies in virtually every industry sector nationwide. Visit U.S. Bank Equipment Finance online at

U.S. Bank Equipment Finance is part of U.S. Bancorp (NYSE: USB). With $221 billion in assets, U.S. Bancorp is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,498 banking offices and 4,837 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at


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

Stump and Preston join U.S. Bank Equip. Machine Tool Finance

DENVER and ATLANTA — U.S. Bank Equipment Finance has named Charles Stump and Dennis Preston relationship managers for its machine tool finance group. Stump, based in Denver, will cover the Colorado and Utah markets. Preston, based in Atlanta, has responsibility for supporting distributors and clients in the southeast.

Stump is a 16-year veteran of the leasing and finance industry, having worked at Key Equipment Finance, Lewan and Associates, Inc, Newcourt Financial Services, and AT&T Capital Leasing Services. He earned his bachelor’s degree from the University of Texas of Permian Basin and can be reached at 720-493-1576.

Preston has worked in the machine tool leasing and finance industry for 14 years. Most recently he worked for Wells Fargo Financial Leasing and prior to that Telmark Leasing, LLC, The CIT Group, and Okuma Financial Services. He holds a master’s degree from Kennesaw State University in Kennesaw, Ga., and a bachelor’s degree from Framingham State College, Framingham, Mass. Preston can be reached at 770-926-8099.

“We’re pleased to add two very qualified individuals to our sales force,” said Ken Rector, executive vice president of the machine tool finance group. “Both Chuck and Dennis have worked in the commercial finance arena for many years and will use their experience and professional approach to provide customer service that exceeds expectations.”


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

95% of Respondents Say Equipment Finance Aids Small Business Growth Strategies

Arlington, VA——The Equipment Leasing and Finance Association (ELFA) releases the results of its eighth annual survey of the U.S. Small Business Administration’s (SBA) State Small Business Person of the Year winners about their equipment financing methods and reasons for financing equipment. Of the respondents from among 50 U.S. state winners, 95 percent agree that financing equipment is a good business strategy for meeting the demands of small businesses, and more than half (53 percent) currently finance equipment for their own businesses.

The group of Small Business Persons of the Year surveyed by ELFA represents outstanding small businesses recognized by the SBA in each of the 50 U.S. states. The winners are selected on their record of stability, growth in employment and sales, financial condition, innovation, response to adversity and community service.

“ELFA’s survey of SBA winners represents the best of small business owners in the country,” said Ralph Petta, Vice President of Industry Services, ELFA. “Their acknowledgement of the importance of equipment financing to the success of their small businesses should be a significant consideration for other small firms in making equipment acquisition decisions.”

Among key findings:

• Office equipment is the top equipment type financed this year, as it has been for the last six years, along with computers, both with 21 percent of respondents

• 47 percent of survey participants finance through equipment finance companies, 32 percent through banks, and 11 percent through manufacturers’ finance programs

• Asset management and lower cost were the top benefits of equipment financing through loans, with each cited by 58 percent of respondents

• Ability to have the latest equipment, consistent expenses in budget planning, convenience, and help in managing company growth were the top benefits of equipment financing through leasing, with each cited by 53 percent of respondents.

“The survey results show that the SBA State Business Persons of the Year understand the benefits small businesses can derive from financing their equipment needs,” said Valerie Hayes Jester, ELFA Chair and president of Brandywine Capital Associates, Inc., West Chester, PA. “Capital allocations are at a premium for small businesses, which explains why they finance equipment twice as much as buy it outright. Equipment financing provides flexible options for them to access the equipment they need to be competitive and grow their businesses.”

The Equipment Leasing and Finance Foundation is currently preparing a new in-depth study on equipment financing, “Propensity to Finance.” This survey will provide a more rigorous detailed analysis of commercial users of equipment finance with larger survey samples consisting of firms of all sizes and categorized by market types and their disposition to financing equipment. It is scheduled for release in August.

About the Equipment Leasing and Finance Association

The Equipment Leasing and Finance Association (ELFA) is the trade association representing financial services companies and manufacturers engaged in financing the utilization of and investment in capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its over 750 members include independent and captive leasing and finance companies, banks, financial services companies, broker/packagers and investment banks, as well as service providers. For more information, please visit

ELFA is also the premier source for statistics and analyses covering the equipment finance sector. To access ELFA's comprehensive industry information, please visit


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

Equipment Leasing & Finance Association Files Amicus Briefs in Cases
Affecting Tax Treatment of Leaseback Transactions

ELFA Asks Courts to Affirm Established Legal Principles Underlying Equipment Finance

Arlington, VA——The Equipment Leasing and Finance Association (ELFA) has filed two separate amicus curiae or “friend of the court” briefs for the purpose of affirming established major legal principles underlying the equipment leasing and finance industry. In both briefs, ELFA argues that the correct tax treatment of leaseback transactions -- and commercial leasing transactions in general -- are cast into doubt by a recent federal district court decision.

ELFA also filed motions asking the courts in the two cases to grant the association leave to file the amicus briefs.

ELFA filed its motion and amicus brief before the United States Court of Appeals for the Fourth Circuit in support of the appellant, BB&T Corporation, in its appeal of a January 2007 decision of the U. S. District Court for the Middle District of North Carolina. ELFA believes that the BB&T case raises issues that upend established legal principles potentially impeding capital formation. Specifically, the District Court decision ignores the historical case law standard applied to determine whether the form of sale/leaseback or lease/leaseback transactions will be respected for federal income tax purposes which have been financial staples of commercial finance in the U. S.

“ELFA believes the district court’s legal analysis on BB&T ignores established case law with significant unintended consequences,” said ELFA President Kenneth E. Bentsen, Jr. “We are asking the courts to affirm the established major legal principles underlying the equipment finance industry. The court’s analysis casts into doubt long established tax treatment of lease-back transactions and commercial leasing transactions in general, undermining reliance on our U.S tax laws and potentially impacting the cost of capital," Bentsen said.

ELFA contends that the court’s analysis casts into doubt the correct tax treatment of leaseback transactions and commercial leasing transactions in general. The District Court improperly recharacterized the transaction at issue in a manner inconsistent with established law and precedent and thus adopted a standardless test that will prevent leasing companies from determining whether the form of lease transactions will be respected for tax purposes.

ELFA believes the District Court should have followed the established precedent and at a minimum made a factual inquiry to determine whether the rights and obligations imposed on the taxpayer had economic substance. ELFA urges reversal of this decision or in the alternative that that case be remanded to the district court with directions to apply the economic substance analysis as established by the decisions of the Supreme Court and the Fourth Circuit.

“ELFA historically has participated as amicus curiae in cases which are of national or market importance to the industry in both federal and state courts,” said ELFA’s Bentsen. “The crux of the issue at hand is that U. S. Supreme Court and Fourth Circuit Court of Appeals decisions have clearly established the principle/standard that in the realm of lease/leaseback and sale leaseback transactions, the form of a transaction will not be disregarded as long as the transaction has tax independent considerations and is not shaped solely by tax avoidance features,” he said.

In addition to the BB&T amicus curie brief, ELFA filed a brief in the U. S. District Court for the Southern District of Ohio on June 18 in support of Fifth Third Bancorp’s opposition to the U. S.’ motion for summary judgment. The Fifth Third case raises the same issue of major significance to the industry and ELFA asks that the court reaffirm the time honored tax principles applicable to leasing as enunciated by the U. S. Supreme Court and leading Court of Appeals cases.

ELFA’s amicus filing requests that the court deny the U. S. motion for summary judgment in this case and apply established precedent in this area. Once again, ELFA requests that the U. S. District Court make a factual inquiry to determine whether the rights and obligations imposed on the taxpayer had economic substance.

ELFA is also the premier source for statistics and analyses covering the equipment finance sector. To access ELFA's comprehensive industry information, please visit


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

Trinity Industries, Inc. Announces Railcar Leasing Transaction

DALLAS, -- Trinity Industries, Inc. announced today it has purchased 20% of the equity in newly-formed TRIP Rail Holdings LLC ("TRIP"), which will provide railcar leasing and management services in North America. TRIP's remaining equity is held by five private investors not related to Trinity or its subsidiaries. The entity is the first of its kind in the railcar leasing industry.

As part of the agreement, a wholly-owned subsidiary of TRIP plans to purchase approximately $1.4 billion in railcars from Trinity Industries, Inc. and Trinity Industries Leasing Company ("TILC") during the next 24 months. TILC will manage and service the railcars for the new entity.

"By forming this new company, we are able to shift a significant portion of Trinity's railcar backlog that had been dedicated to our internal lease fleet to third-party sales transactions," said Timothy R. Wallace, Trinity's Chairman, President and CEO. "By doing so, we can continue growing our leasing operations while simultaneously improving the Company's overall cash flow. We are excited to have identified investors who share our vision of growth and profitability in the railcar industry."

The Company will provide further details on this transaction during its Second Quarter Results conference call.

Trinity Industries, Inc., headquartered in Dallas, Texas, is a holding company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group and the Energy Equipment Group. For more information, visit:


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

News Briefs----

Marquette Financial tosses hat in health care finance field

U.S. court delays Bank of America suit over LaSalle

BofA's Lewis says LaSalle deal all about Chicago
(but see largest bank list in previous article this issue)

Connecticut bank to buy Chittenden Bank, Vermont's largest

Chief Steps Down, and Commerce Bank Agrees to End Business Deals With His Family

Interest rates threaten bull market

Oil closes above $70 a barrel, first time since August

A $135 Million Home, but if You Have to Ask ...

Tahoe blaze burns moments into memories



You May have Missed---

Your next online purchase may include a surprise: tax



California Nuts Briefs---

Governor signs bill banning holiday booze on American River



“Gimme that Wine”

After two decades of fighting with locals, the Wine Train rolls on

Sales of Riesling wines grew 29% last year

Kentucky Grapes affected by the drought

Peak experience: Fogarty's mellow mountain winery

HEALDSBURG Summer luncheons at Davis Bynum

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



Calendar Events This Day

I Forgot Day
A day to make up for all the birthdays, anniversaries, new births, graduations, etc., that you forgot to acknowledge with a greeting or a gift.

National Literacy Day

World UFO Day

Saint feast Days



Horseback riding can improve your posture.



Today's Top Event in History

1963 --In one of baseball's most memorable pitching duels, Giants' Juan Marichal and Braves' Warren Spahn both hurl 15 scoreless innings before Willie Mays ends the marathon with a homer off Spahnie in the bottom of the 16th giving San Francisco a 1- 0 win.


This Day in American History

    1776- the Continental Congress, Philadelphia, PA, having a quorum, voted to adopt a resolution introduced June 7, 1776, by Richard Henry Lee of Virginia: “Resolved, That these United Colonies are, and of right ought to be, free and independent States, that they are absolved from all allegiance to the British Crown, and that all political connection between them and the State of Great Britain is, and ought to be, totally dissolved. That it is expedient forthwith to take the most effectual measures for forming foreign Alliances. That a plan of confederation be prepared and transmitted to the respective Colonies for their consideration and approbation.” This resolution prepared the way for signature and adoption, July 4,1776, of the Declaration of Independence.
    1777- slavery emancipations was enacted into law by Vermont: “ No male person born in this country or brought from over sea, ought to be holden by law, to serve any person as a servant, slave or apprentice, after he arrives to the age of twenty-one years, nor female, in like manner, after she arrives to the age of eighteen years, unless they are bound by their own consent, after they arrive to such age, or bound by law, for the payment of debts, damages, fines, costs, or the like.”
    1778- Cyrus Griffin of Virginia, the president of the Congress, announced that the Constitution had been ratified by the required nine states (the ninth being New Hampshire June 21, 1788), and a committee was appointed to make preparations for the change of government.
    1822-Perhaps one of the events that slowed those advocating freedom was
the ceremony and significance of the hanging of Denmark Vesey. He was the planner of what would have been the biggest slave revolt in US history. Denmark Vesey was executed at Charleston, SC. He had been born around 1767, probably in the West Indies, where he was sold at around age 14 to Joseph Vesey, captain of a slave ship. He purchased his freedom in 1800. In 1818 Vesey and others began to plot an uprising, he held secret meetings, collected disguises and firearms and chose a date in June, 1822. But authorities were warned, and police and the military were out in full force. Over the next two months, 130 blacks were taken into custody, 35, including Vesey, were hanged and 31 were exiled. As a result of the plot, Southern legislatures passed more rigorous slave codes.
    1863-The second day of the battle of Gettysburg. Both armies faced each other in a parallel line one mile apart. General Longstreet basically holds back, disagreeing with General Lee orders, as Longstreet waits. Lee sends in his best, his right hand fighting force, the price of the South, J.E.B.Stuart. The delay by Longstreet changes the course of the battle. The time gives the Federal troops time to organize and position themselves. In his book, Longstreet
says these reports are incorrect, especially about specific orders to attack. This battle was never planned, but was stumbled into as General Lee was on his way for a surprise attack on Washington, D.C. Several generals died this day in battle, and Longstreet has his version of what happened.
    1864-Congress established the National Statuary Hall, formerly the Hall of the United Sates House of Representatives in the Capital at Washington, DC. Each state was invited to contribute marble or bronze statues of its most distinguished citizens.
    1881- After only four months in office, while on his way to visit his ill wife in Elberon, New Jersey, President James A. Garfield, 49, is shot in the back and the arm at the Baltimore & Potomac railroad station in Washington, D.C., by Charles J. Guiteau, , a mentally disturbed man, who had been tracking President Garfield for a while.
    1890—The Sherman Act was enacted by Congress. Also known as the Antitrust law, it was “ an act to protect trade and commerce against unlawful restraints and monopolies. “ It provided that “every contract combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several states, or with foreign nations, is hereby declared to be illegal.”
The census recorded a population of 62,947,714. The center of population was placed at 20 miles east of Columbus, Indiana. The melting pot character of New York City was reflected in statistics revealing that there were half as many Italian New Yorkers as Neapolitans in Italy, as many German New Yorkers as Germans in Hamburg, twice as many Irish New Yorkers as Dubliners, and two and half-half times as many Jews as were living in Warsaw. It would not be until shortly after
the turn of the century that immigration laws would slow down the mix.
    1881- President James A. Garfield was shot as he entered the railway station at Washington. DC. He died Sept 19, 1881, never having recovered from the wound. The assassin, Charles J. Guiteau, was hanged June 30, 1882.
(bottom half of: )
    1904-Jean Rene Lacoste, tennis player and clothier born at Paris, France. Lacoste, known as the Crocodile, was one quarter of the great French tennis players in the 1920’s known as the Four Musketeers. He won Wimbledon and the US championship twice each, the French Open three times and was ranked No. 1 in the world in 1926-27. He designed the first shirt specifically for tennis, a loose-fitting cotton polo shirt that soon became the standard. He adorned the Lacoste shirt with a small crocodile, the first apparel logo. Died at St. Jean-de-Luz, France, October 12, 1996
    1905-birthday of bandleader, saxophonist Harland Leonard, Kansas City, MO
    1908-birthday of Thurgood Marshall, the first African-American on the U.S. Supreme Court, born at Baltimore, MD. For more than 20 years, he served a director-counsel of the NAACP Legal Defense and Educational Fund. He experienced his greatest legal victory May 17,1954, when the Supreme Court decision on Brown v Board of Education declared an end to the “separate but equal” system of racial segregation in public schools in 21 states. Marshall argued 32 cases before the Supreme Court winning 29 of them, before becoming a member of the high court himself. Nominated by President Lyndon Johnson, he began his 24-year career on the high court. Oct 2, 1967, becoming a voice of dissent in an increasingly conservative court. Marshall announced his retirement June 27, 1991, and he died January 24, 1993, a t Washington,DC.

    1917-W.E. B. Dubois, Marcus Garvey, and James Weldon Johnson of the NAACP, led a silent march down Fifth Avenue at New York, following the previous day Saint Louis race riots ( reported in yesterday’s A Day in American History ) Between 20 and 75 blacks were killed, and hundreds more were injured.
    1921-Jack Dempsey successfully defended his heavyweight championship against French contender George Carpentier. The challenger staggered Dempsey in the second round, but the “Manassa Mauler” recovered and knocked out Carpentier in the fifth round. The fight grossed $1,789,238, boxing’s first million-dollar gate, as 80,000 fans took their seats in a specially-built outdoor arena in Jersey City, NJ.
    1930-Ahmad Jamal (Fritz Jones ) birthday
    1937-The Lockheed aircraft carrying legendary aviator Amelia Earhart and her copilot Frederick J. Noonan is reported missing. In 1928, Earhart was the first woman to fly across the Atlantic Ocean, and in 1932 she became the first female pilot to cross it solo. She disappeared on the last leg of her global journey somewhere between New Guinea and Howland Island in the South Pacific. Two radio amateurs picked up a signal that she was low on fuel — the last trace the world would ever know of Amelia Earhart. New York Times story (370703)
    1939-birthday of singer Paul Williams, Birmingham, AL
    1941—Gene Krupa Band with Roy Eldridge record “ Rockin’ Chair.”
(Hoagy Charmichael first wrote and sang this, and Jack Teagarden
later had a hit in the late 1920’s. It later became his signature song. ).
    1943-First Lieutenant Charles Hall of Brazil, In, became the first Army pilot who was African-American to shoot down an Axis airplane in World War II when she shot down a German FockeWulf 190 over Sicily. He was flying a Warhawk as part of a fighter squadron escorting bombers. The squadron commander was Lieutenant Colonel Benjamin Oliver Davis, Jr., who later became the first Africa-American general of the Air Force.
    1944- Impresario Norman Granz presented the first Jazz at the Philharmonic concert at the Philharmonic Auditorium in Los Angeles. The series, which later toured the US and Canada, presented the best mainstream jazz artists, both in individual sets, and in an all-star jam session. The success of Jazz at the Philharmonic proved, as Granz said, that there was "money to be made in good jazz." Granz later formed Verve, one of the leading jazz labels of the 1950's and '60s
    1951--Top Hits
Too Young - Nat King Cole
Mister and Mississippi - Patti Page
On Top of Old Smokey - The Weavers (vocal: Terry Gilkyson)
I Want to Be with You Always - Lefty Frizzell
    1955- "The Lawrence Welk Show" premiered on television, lasting for nearly three decades. By high school best friend Warren Luening played trumpet in the show, who is today a well-known professional studio, move, and television musician. He is mentioned often in movie titles and CD ROMs for his solo’s and performance,,460884,00.html,,1080878,00.html,,192577,00.html,,203866,00.html
    1956 - Elvis Presley recorded "Hound Dog" and "Don’t Be Cruel" and “Anyway You Want Me “ for his new record label home, RCA Victor in New York. It's the first session to feature the Jordainaries, a vocal harmony quartet.
    1957-"The Andy Williams Show" premiered Mike Post was hired as musical director "in order to appeal to a younger audience; he introduced the practice of prerecording band arrangements rather than recording them during the taping of the show." In 1976, Williams hosted "Andy," a syndicated show.
    1959--Top Hits
Personality - Lloyd Price
Lonely Boy - Paul Anka
Lipstick on Your Collar - Connie Francis
The Battle of New Orleans - Johnny Horton
    1961—Roger Maris hits 29th and 30th home run en route to 61 homers.
1963 In one of baseball's most memorable pitching duels, Giants' Juan Marichal and Braves' Warren Spahn both hurl 15 scoreless innings before Willie Mays ends the marathon with a homer off Spahnie in the bottom of the 16th giving San Francisco a 1- 0 win.
    1963 - No. 1 Billboard Pop Hit: ``Easier Said Than Done,'' The Essex. The members of the group are all U.S. Marines, including lead singer Anita Humes.
    1964- President Lyndon Johnson signed the Voting Rights Acts into law, prohibiting discrimination on the basis of race in public accommodations, in publicly owned or operated facilities, in employment and union membership, and in the registration of voters. The bill included Title VI, which allowed for the cutoff of federal funding in areas where the discrimination persisted.
    1966- Temperature at Philadelphia, PA soared to 104
    1967--Top Hits
Windy - The Association
Little Bit o’ Soul - The Music Explosion
San Francisco (Be Sure to Wear Flowers in Your Hair) - Scott McKenzie
All the Time - Jack Greene
    1969- Reds pitcher Jerry Arrigo ties a major league mark when he hits his third Brave in the second inning of 9-4 victory. Braves tie the record hitting five batters in one game.
    1973 - No. 1 Billboard Pop Hit: ``Will It Go Round in Circles,'' Billy Preston.
    1975--Top Hits
Love Will Keep Us Together - The Captain & Tennille
When Will I Be Loved - Linda Ronstadt
Wildfire - Michael Murphey
Tryin’ to Beat the Morning Home - T.G. Sheppard
    1976- Brian Wilson, rehabilitated from drug and other problems, joined the Beach Boys on stage in Oakland, California for the first time in 12 years. He performed with the group again the following night, and the event was recorded for an NBC television special.
    1983--Top Hits
Flashdance...What a Feeling - Irene Cara
Electric Avenue - Eddy Grant
Every Breath You Take - The Police
Love is on a Roll - Don Williams
    1984 - No. 1 Billboard Pop Hit: ``When Doves Cry,'' by the artist then known as Prince. The song is the first single released from Prince's ``Purple Rain'' LP and his biggest hit, selling more than 2 million copies and topping the pop chart for five weeks.
    1985- Astro hurler Joe Niekro notches his 200th career victory. The Niekro brothers (Joe & Phil) will join the Gaylords (Jim & Gaylord) as the only brothers to win at least 200 games per pitcher.
    1988- Michael Jackson became the first artist to have five number one singles from one album when "Dirty Diana" went to the top of the Billboard Hot 100. The other four chart-toppers from "Bad" were "I Just Can't Stop Loving You," "Bad," "The Way You Make Me Feel" and "Man in the Mirror."
    1989--Thunderstorms produced 158 reports of large hail or damaging winds. Evening storms in northeast Texas produced softball size hail which causes more than $5 million damage at Allen and wind gusts to 90 mph at Dallas which injured 8 persons and caused $7 million damage.
    1991--Top Hits
Rush, Rush - Paula Abdul
Unbelievable - EMF
Power of Love/Love Power - Luther Vandross
The Thunder Rolls - Garth Brooks
    1992- A cold July day as Saranac Lake, NY drops to 30, East Haven, VT to 29, West Charleston ,VT 30
    1992-Original Corvette engineer Zora Arkus Duntov drives the one-millionth Chevrolet Corvette off the assembly line in Bowling Green, Kentucky. The event is monumental to both America's first sports car and the man that made the car possible.
    1994-Andrews Escobar, 27 a defender on Colombia’s 1994 World Cup soccer team, was shot 12 times and killed by an unknown assailant in Medellin, Colombia. The shooting occurred ten days after Escobar had scored an “own goal,” kicking the ball into his own net in a 2-1 opening round upset loss to the United States. Witnesses aid the shooter shouted, “ Goal! Goal!” as he fired each shot.
    1994 -Heavy rains from the remains of Tropical Storm Alberto produces major flooding across northern and central Georgia. Three day rains exceeded 15 inches at Atlanta., GA, 21.10 inches at Americus, GA. Numerous road closures and bridge washouts. 30 people were killed and 50,000 were forced from their homes as 800,000 acres were flooded. Total damage exceeded $750 million
    1997 - "Men in Black" opened in the U.S. It’s a fun-filled sci-fi tale about a secret organization that’s been keeping track of extra-terrestrial aliens on Earth for over 40 years. This organization so secret that when you retire, your memory of it is erased! Agents Kay (Tommy Lee Jones) and Jay (Will Smith) expose a plot by intergalactic terrorist Edgar (Vincent D'Onofrio) who has beamed (or whatever) to Earth to assassinate two ambassadors from opposing galaxies. Complex, but hilarious, but action packed. Audiences beamed (or whatever) to theatres the first weekend, spending $51.07 million on the movie.
    2002 -Fifty-three major league players hit a record 62 home runs breaking the mark of 57 established on April 7, 2000. The barrage includes record-tying dozen hit at Chicago's Comiskey Park by the White Sox and the Tigers, the same two teams which set the major league record for homers in a game with 12 at Tiger Stadium in 1995.



Baseball Poem

God Protects Fools with Curveballs

Going after her
Was chasing
A bad pitch,
A sharp curve
That tailed off
Into the dirt,
Evaded the end
Of my whirling bat.
Thank goodness
I only looked stupid
On the first strike.

Touching All Bases
Poems from Baseball
Tim Peeler




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



Daily Puzzle

How to play:

Refresh for current date:



Independent, unbiased and fair news about the Leasing Industry.
Editorials (click here)
Ten Top Stories each week chosen by readers (click here)

Leasing 102
Leasing News Advisors
Pictures from the Past
Sales Make it Happen
Shawn Halladay Collection
To Tell the Truth
Why I Became a CLP