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Friday, July 17, 2009

1983 "Knight Rider"
Actor David Michael Hasselhoff born July 17, 1952 Baltimore, Maryland; best known for TV series "Knight Rider,"(84 episodes, 1982-1986) "Baywatch" (221 episodes, 1989-2000), "BayWatch Night" (44 episodes, 1995-1997) and "America's Got Talent" (55 episodes, 2006-2009)) Began his career playing Dr. William "Snapper" Foster, Jr. on the soap opera The Young and the Restless from 1975 to 1982. He is very popular in Europe, also as a singer. Everywhere I went my name "Kit" was well known ("Oh, like Kit in Knight Rider."--Kit was the name of his car.) His re-runs seem to be very popular in Europe, too.


    Peter C. Platt passes away
Nancy Rosenberg passes away
    Classified Ads---Syndicator
IFC's Trebels/Langs Sued for Fraud by CoActiv Capital
Most Influential Women in Leasing
    Operation Lease Fleece: Up-Date
        Letters! We get Email~!
Phoenix, Arizona, Tuesday, July 28th Networking
    Classified ads-Leasing Attorneys
Harry Potter and the Half-Blood Prince/In the Loop
    Watchmen/The Great Buck Howard/Grey Gardens
Fernando's View By Fernando F. Croce
    View from the Top---Steve Chriest
Impacting Performance Metrics That Matter
    CIT Pursuing Financing Alternatives
Alta's Legal Leasing Forum: World Economic Crisis
News Briefs---
    Retailers Fear Impact of a CIT Bankruptcy
Healthcare equipment financing grew in 2008
    Foreclosures keep soaring as well as unemployment
        India: 6-month credit to pay ailing AI's fuel bill
Google profit up 19% but revenue rose only 3%
    Venture capital funding takes a plunge
    You May have Missed---
     Sports Briefs---
        California Nuts Brief---
"Gimme that Wine"
    Today's Top Event in History
        This Day in American History
Baseball Poem
Daily Puzzle
        Weather, USA or specific area
Traffic Live----

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


Peter C. Platt passes away

Harborside Capital Group regrets to announce that Peter C. Platt passed away on July 15, 2009 from complications related to a kidney transplant. Pete was a 40 year veteran of the equipment leasing industry who held senior management positions with GE Capital, Westinghouse Credit, AmSave Credit and served as the President of Summit Leasing Corporation prior to his affiliation with Harborside.

Pete served as a Director and Member of the Executive Committee of The Eastern Association of Equipment Lessors and served on several committees of The Equipment Leasing and Finance Association.

Pete is survived by his wife, three children and granddaughter.



Nancy Rosenberg passes away

The Arizona Equipment Leasing Association regretfully announces the passing of one of their founding members.

Nancy Rosenberg, a long time leasing professional in the Arizona market has passed away on July 13, 2009. Nancy was an executive with General Leasing Corp headquartered in Phoenix for over 15 years. Later she acquired Jim Fisher's Quality Financial on his passing in 1995, and continued its operation. She was also a founding member and served an officer with The Arizona Equipment Leasing Association. She will be missed for her friendly smile, energy and encouragement that she gave to all who knew her.

Services for Friday July 24 are pending.

Bernice Truszkowski



Classified Ads---Syndicator

Chicago, IL
Syndicator with 20+ years experience in selling or buying one-off leases and portfolios. Price, structure, negotiate and document transactions.
Full time position or contract work.

Orange County, CA
10 yrs. exp. middle market credit underwriting/syndication/collections. All collateral. Seeking full-time position with equipment broker/lessor. Resume available

Overland Park, KS
Top Syndicator from single deal to portfolios. 20+ yrs exp. Available for contract work or full time position. Nationwide contacts.

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

To place a free "job wanted" Leasing News ad:

ELFA Career Center: Job Seekers (free):



IFC's Trebels/Langs Sued for Fraud by CoActiv Capital
by Christopher Menkin

CoActiv Capital Partners of Horsham, Pennsylvania on July 9, 2009 filed a suit for over $2 million against IFC Credit Corporation, Morton Grove, Illinois, one of their funding groups, and the two main principals, claiming the officers committed fraud as individuals, specifically not paying off leases when the lessee terminated early, and knowing that the company was "essential insolvent" for almost a year.

This is the first suit filed individually against Rudolph D. Trebels, CLP, CEO of the company, and Marc Langs, CFO of the company. They are named as officers of IFC Credit Corporation as well as managers IFC Capital Funding I, LLC. The complaint filed is over 180 pages with five complete exhibits by lead attorney Frank Murphy of Frey, Petrakis, Deeb, Blum, Briggs & Mitts of Philadelphia, Pennsylvania. (Peter J. Deeb was involved in the early NorVergence bankruptcy hearing representing Partners Equity Capital Company, LLC as well as the case with IFC Credit Corporation and the FTC. Mr. Murphy is a top litigator with the firm: )

Manufacturers and Traders Trust Company (MT&T), successor by merger to Court Square Leasing, filed on June 29th a "Complaint on Confession of Judgment," claiming $518,843 owed (now $38,885.26 interest as of February, 2009 and attorney fees of $51,848.35) at $609,218.14. As the public pleadings disclose, MT&T have a judgment against IFC for the amount reflected in the pleading and not merely a pending complaint. Stephen Levin was the lead attorney along with Deirdre M. Richard, Lamm Rubenstone, LLC.

There is the $1 million complaint filed from an investor in California, as wells as previous attorneys not being paid $170,000 for their NorVergence lease legal fees, and many brokers and vendors, who are continuing to email and telephone Leasing News asking for advice, but realizing in the conversation that they know they will never be paid. It appears many vendors read leasing news to learn about IFC Credit and other companies.

In the meantime, the former CEO of First Portland Corporation dba First Corp., Len Ludwig, who reportedly holds a 100% stock pledge agreement from Rudy Trebels, is trying not only to save his investment, but keep the company alive, saying he will take care of all the banks, the debts, the lawsuits, and both brokers and vendors who have not been paid, although there will be not infusion of capital or guarantee of debt of any consequence. He has reportedly told investors he will put together a new line of credit with their help and bring First Portland Corporation dba First Corp back to life (no mention was made about the Brooklyn Bridge as extra collateral as rumored).

There is a continued hearing today in Cook County Court, Illinois. His right hand man Thomas E. Laury was put in charge of IFC as "project manager" and Ludwig wants to take full control. While Ludwig appears as the good cop, Laury has been given the role of the bad cop, several sources have told Leasing News in more explicit language. If the same Thomas E. Laury, he was disbarred as an attorney for sixty days in 1985 in Oregon, where Ludwig ran First Portland Corporation as CEO. (1) Reportedly Laury has served Ludwig in other capacities. Telephone calls to IFC Credit were not returned.

Ironically CoActiv Capital was formed by two principals caught up in NorVergence Leases: "November 27, 2002 , 'Donald P. Campbell and Steve A. Grosso, both former leaders at De Lage Landen Financial Services, Inc., Tokai Financial Services, Inc., Fidelity Bank N.A., and ITT Industrial Credit, announced the formation of Partners Equity Capital Company, LLC (PECC).' ..Jan. 18, 2007: "Marubeni America Corporation ("MAC") has entered into the finance leasing industry in the United States with the launch of a new subsidiary, CoActiv Capital Partners LLC ("CCP"), retaining the employees and most of the lease assets of Partners Equity Capital Company ("PECC"). You would have thought they knew better after their experience with NorVergence leases and IFC Credit's position, too. Oh, well, sounds like a NorVergence re-union with all the players and attorneys in a home week, but this time in court. I can hear former FTC Attorney Randy Brook laughing out loud all the way from his retirement in Washington, especially with Askounis & Darcy not getting paid $170,000 for their NorVergence legal fees.

This is the first public document to declare Trebles and Langs knew IFC Credit was "insolvent" reportedly for over a year. More importantly, it is the first to charge at least two IFC Credit officers with personal fraud. It appears the office of the United States Attorney General in Illinois is looking into the matter as a follow-up to the NorVergence leasing scandal. Ironically, the FTC attorney who prosecuted the case after Brook retired, Robert Schroeder, is the new Regional Director, based in the State of Washington, as Chuck Harwood, the Regional Director for several decades, is moving to Washington, DC to take the two spot in the Bureau of Consumer Protection.

Here is a short synopsis from the 188 page public document:

"9. In December 2007, IFC, IFCI, and CoActiv were parties to a loan transaction wherein CoActiv provided funding to IFCI by means of a $25,000,000.00 credit facility for IFCI to purchase certain leases from IFC. As part of that transaction, IFC and IFCI entered into an Assignment of Servicing Agreement (the "IFCI Servicing Agreement") wherein IFC assumed IFCI's servicing requirements and agreed to service and administer the leases for the benefit of CoActiv. See Loan Agreement and IFCI Servicing Agreement attached hereto as Exhibits "D" and "E", respectively.

"22. Beginning in approximately mid-2008, the Servicing Reports ceased to show that any leases were being terminated by lessors and failed to show that IFC was receiving and depositing into other accounts the monies related to the early termination of the leases owned by CoActiv

"28. As of April 10, 2009, IFC has acknowledged that it wrongly withheld and retained over $1.6 million dollars in termination payments due to CoActiv.

29. Further, CoActiv has determined that IFC has failed to make almost $400,000 in other payments due and owing to CoActiv under the terms of the Servicing Agreements.

"30. Upon a review of IFC's financial situation, CoActiv believes, and therefore avers that IFC has been essentially insolvent over the past year and has been utilizing funds belonging to CoActiv to satisfy cash flow requirements.

"32. Mr. Trebels and Mr. Langs, as officers of IFC, were at all times aware of the funds received by IFC for termination of the leases as well as what information as contained on the Servicing Reports being provided to CoActiv.

"33. Mr. Trebels and Mr. Langs, as officers of IFC, were at all times aware that funds belonging to CoActiv were being dissipated and utilized by IFC without the knowledge of or permission of CoActiv.

34. Mr. Trebels and Mr. Langs knew at all times that the information being provided to CoActiv was false and misleading.

35. Section 13.1 of the Omnibus Agreement provides that Defendants shall pay all attorneys fees, costs, and expenses incurred by CoActiv arising from the enforcement of CoActiv's rights under the Omnibus Agreement.

41. CoActiv has been damaged as a result of Defendants IFC's and IFCI's conversion in an amount exceeding $2,000,000.00 plus interests, fees, and costs.

51. IFC and IFCI failed to properly distribute nearly $400,000 in payments collected and reported on leases owned by CoActiv for which IFC and IFCI were collecting under the terms of the Servicing Agreement, as well as over $1.6 million in payments collected on leases owned by CoActiv for which IFC and IFCI were servicing under the terms of the Servicing Agreement.

62 Defendants Trebels and Langs knew the Servicing Reports were materially false and inaccurate, yet Defendant Langs, under Defendant Trebels' direct control and supervision, and upon information and belief with his express approval, signed the Servicing Reports on behalf of Defendants IFC and IFCI and actively participated in the fraud.

63. Defendants acted fraudulently towards CoActiv in order to falsely inflate the condition of Defendants IFC's and IFCI's financial operations.

64. Defendants' Trebels and Lang benefited from the fraud since it allowed them to maintain their positions at IFC and IFCI, as well as receiving financial and other benefits related to their positions."

(1) Laury Disbarred

CoActiv Complaint:

Exhibit A:
Exhibit B:
Exhibit C:
Exhibit D:
Exhibit E:
Exhibit F:

MT&T "Complaint on Confession of Judgement"



Most Influential Women in Leasing

Send nominations to:

"Influential" as "a person whose actions and opinions strongly influence the course of events" {Online Dictionary}. They must be alive, and do not need to be active any longer in the leasing or finance industry.

New Nominations:

Bette Kerhoulas, CLP. President Pacifica Capital founded in 1984. She has been an influence and role model for many women (and men) in our industry, not to mention she was the first female President of the United Association of Equipment Leasing. She also won a major case in California regarding application of sales tax to discounted or assigned true leases.

Current List here:
Elaine Litwer
Lisa A, Levine, CAE
Terri McNally
Deborah Monosson
Rosanne Wilson, CLP


Elaine Litwer - legislative coordinator for the National Vehicle Leasing Association (NVLA), which promotes responsible legislation regarding developments and trends in vehicle leasing. She is a recipient of the association's Lifetime Achievement Award for her distinguished career in the vehicle leasing industry and her continued work and support of the association She dedicated herself to improving the leasing industry. She fought tirelessly to abolish lessor vicarious liability in New York State. She was involved in the auto industry from almost every aspect, being a lessor, a sales rep, working in the offices at GM, lobbying in Albany.

Lisa A, Levine, CAE--Executive Director of the Equipment Leasing & Finance Foundation, who has continually attracted an active board of trustees, as well as conducting and commissioning " credible, unbiased future-focused research about the equipment lease financing industry. To date, the Foundation has funded more than $1.6 million in research grants." The Journal of Equipment Lease Financing, published three times a year.

Terri McNally---President of Global Capital, Ltd., former vice-president at Ameritech Capital, Fleet Capital, and GE Capital, active in many associations, winning several awards and recognitions, serving as a speaker at conferences all over the world for over 20 years.

Deborah Monosson--- President, Boston Financial & Equity Corp., a role model for women in leasing, active on the board at the Equipment Leasing and Finance Association, Equipment Leasing and Finance Foundation, first female president of the Commercial Finance Association, serving on many committees, very active and outspoken. Operates a very successful company.

Rosanne Wilson, CLP -- 1st Independent Leasing is an outstanding individual. A twenty-five year veteran in Finance. She has given so much to National Association of Equipment Leasing Brokers (NAELB), as well as reached out as a Mentor and supporter of all new members of our industry. She serves on many committees as well as the Treasurer of NAELB. Those who know her have grown from the assets she shares with all. Even the most experienced amongst us have used her good office as a great sounding board on issues from closing deals to technical questions and she always shares what she knows graciously. A true professional and a terrific representative of our industry.



Operation Lease Fleece: Up-Date
by Christopher Menkin

Hon. Cormac J. Carney, Former UCLA football star, and UCLA Football wide receiver Rose Bowl MVP.

November 7, 2007 the FBI investigation dubbed "Operation Lease Fleece" officially filed charges against 23 for their roles in a fraud scheme that allegedly caused more than $20 million in losses to several leasing companies and banks that believed they were financing equipment leases. First, that was the dollar amount at the time, as other defaults have brought new cases and charges. According to the records, many were arrested on October 18, 2007.

There have been two additional arrests since that date, and authorities say there are more coming, thus they have been postponing sentencing dates as sealed documents then become available to the public. It is interesting to note that Adam Zuckerman sentencing date has been postponed the longest: July 19, 2010.

While it appears many in the industry have been disguising sale/leasebacks as "new equipment" or even inflating equipment cost to return cash to the lessee, the organization of Operation Lease Fleece was in Adam Zuckerman's building and that those Leasing News has spoken to have named him the most instrumental in the deception. (1)

Since this date two have been sentenced, the most recent:

Mark Castleman indicted for mail fraud and November 19, 2008 pled guilty. April 23, 2009. Hearing held before Judge Cormac J. Carney as to Defendant Mark P Castleman. Defendant Mark P Castleman (1), Count(s) 1, 1 day imprisonment, with credit for time served. Pay $100 special assessment. All fines are waived. 3 years supervised release under terms and conditions of US Probation Office and General Order 318. Bond Exonerated. Sixty(60) hours of community service with the first six months.

Nohad Mousa pled guilty to 18:1341 MAIL FRAUD before Judge Cormac J. Carney. JUDGMENT AND COMMITMENT by Judge Cormac J. Carney as to Defendant Nohad Mousa (1), Count(s) 1, 6 months imprisonment, time served. Pay $100 special assessment. Pay total restitution of $94,775. Interest on restitution ordered waived. Defendant shall be held jointly and severally liable with co-participant George Simon (Docket No 8:07CR00246) for the amount of restitution ordered in this judgment. All fines are waived. 3 years supervised release under terms and conditions of US Probation Office and General Orders 318 and 01-05. Signed by Judge Cormac J. Carney.

Plea Agreement:

The majority are basically under "house arrest." Although many get permission to travel, it must be specifically approved by Judge Carney. While out on bail, they are not permitted to engage in financing or leasing in the State of California, particularly, as well as other states. According to California Finance Lender Law, no party may own 10% of a finance or leasing company if convicted of a felony.

Whether any person in leasing would "front" transactions from is questionable. Several are in the "investing business," often on a commission basis, and it is assumed they either have other occupations or are living on savings. The attorney fees have been expensive.

This is part of the request to Judge Carney to postpone sentencing by US Deputy Attorney General Jennifer L Waier:

"2. Defendant and the government are engaged in ongoing discussion regarding matters that will significantly impact defendant's sentencing. The parties require additional time to conclude these discussions and prepare position papers concerning sentencing.

Neither the FBI nor the US Attorney General's office have released any new information since the original press release about the announcement of arrest.

Leasing News has written about the three considered the "ring leaders" of the operation. Adam Zuckerman is reportedly still active in the investment business, although. In several interviews, he related how a Equipment Leasing and Finance Association attorney who has sat on ethics and fraud committees advised him what he was doing was legal (2).

Long time partners Jim Raeder and Mark McQuitty of CapitalWerks, Preferred Lease, formerly SierraCities from the sale of their company Republic Leasing of Southern California, appear to have gone their separate ways. They have been living off the sale of Republic Leasing of Southern California for quite some time, Leasing News was told by Jim Raeder

After pleading guilty in a sealed document, Raeder moved to Colorado, where he was originally raised, bringing his family. He reportedly has been in poor health.

Mark McQuitty stayed in Southern California, had allegedly rented several offices, was reportedly active in several ventures, but appears to have let them lapse. He is originally from New Zealand. Whether he will eventually return to his home country after serving time is not known. During the time since his pleading guilty, he has had three serious DMV convictions. He was put on three years probation on July 31, 2008 with the sentence stayed. The DMV record does not show if his license was revoked, but the court knowing his pleading guilty to federal charges may have influenced the decision. (Out of respect for his family, Leasing News is not providing his public DMV conviction record sent in by a reader.)

Here is an up-date on the sentencing dates:
CRIMINAL DOCKET FOR CASE #: 8:07-cr-00239-CJC All Defendants
Jennifer L Waier
AUSA - Office of US Attorney
411 West Fourth Street, Suite 8000
Santa Ana, CA 92701
These are from public documents, up-dated July 15, 2009:

(list by scheduled court date):

James H Breedlove: Sentencing continued (assume 10/5/2009)

Anthony E. Watson pled guilty before Judge Cormac J. Carney.. Documents sealed. Latest: Sentencing Hearing to 10/5/2009 10:00 AM before Judge Cormac J. Carney

Chance Nell Weaver Jury Trial originally sent for 6/16/2009, now set for 12/8/2009 at 09:00 AM before Judge Cormac J. Carney. Status Conference set for 11/30/2009 at 09:30 AM before Judge Cormac J. Carney.

Michael Scott Grayson trial originally sent for June 16, 2009, now Jury Trial set for 12/8/2009 at 09:00 AM before Judge Cormac J. Carney. Status Conference set for 11/30/2009 at 09:30 AM before Judge Cormac J. Carney.

Lourey McComber before Judge Cormac J. Carney. Sentencing is now set for 12/7/2009 before Judge Cormac J. Carney."

Leigh Dorand pled guilty 18:1343: Wire Fraud before Judge Cormac J. Carney. Sentencing set for 12/7/2009 before Judge Cormac J. Carney. Document sealed

Harold Gold pled guilty to 18:1343: Wire Fraud (1) before Judge Cormac J. Carney. Sentencing set for 12/7/2009 before Judge Cormac J. Carney.

Jeffrey Greenough pled guilty to 18:1343: Wire Fraud (1) 18:2: Aiding and Abetting and Causing an Act to be Done before Judge Cormac J. Carney. Sentencing hearing for defendant Jeffrey Greenough to 12/7/2009 before Judge Cormac J. Carney. Documents sealed.

Lourey McComber pled guilty to 18:1343: Wire Fraud (1) 18:2: Aiding and Abetting and Causing an Act to be Done before Judge Cormac J. Carney. Stipulation to Continue 46 Sentencing hearing to 8/11/2008 11:00 AM before Judge Cormac J. Carney. Documents sealed. Latest: Sentencing set for December 7, 2009 before Judge Cormac J. Carney.

Paul Arnold pled guilty before Judge Cormac J. Carney. Sentencing set 12/14/2009 AM before Judge Cormac J. Carney.

*February 19, 2008 James Raeder pled guilty 18:1343: Wire Fraud before Judge Cormac J. Carney. Sentencing set for 1/4/2010 before Judge Cormac J. Carney. Documents sealed.

Kirk A McMahan: continuing Sentencing Hearing to January 4, 2010 before Judge Cormac J. Carney.

May 20, 2008 Mark McQuitty pled guilty 18:1343: Wire Fraud before Judge Cormac J. Carney. Sentencing set for 5/18/2009, but continued to 1/11/2010 at 09:00 AM before Judge Cormac J. Carney. (nbo)Documents sealed. Since the arrest, he has several DMV convictions.

Troy Worrell pled guilty and sentencing set for 12/7/2009, but changed to 1/11/2010 before Judge Cormac J. Carney.

Leo J Najera pled guilty before Judge Cormac J. Carney. Sentencing set for 6/15/2009, now scheduled for January 25, 2010 before Judge Cormac J. Carney. Documents sealed

Les Spitzer also known as Guy Amsalem pled guilty before Judge Cormac J. Carney. Sentencing set for 6/15/2009 but now changed to 1/25/2010 11:00 AM before Judge Cormac J. Carney. Documents sealed.

Geoffrey Silver to the charge of conspiracy to appear before Judge Cormac J. Carney 6/8/2009, now changed to Sentencing hearing to 2/25/2010 11:00 AM before Judge Cormac J. Carney. Documents sealed. Court records show that he has been granted permission to travel throughout the United States.

Brian Sime also known as Joe Turner also known as Tonga Title 18:1014 FALSE STATEMENT TO FINANCIAL INSTITUTION: 18: 2(b) CAUSING AN ACT TO BE DONE (1) Public Defender reassigned. Documents sealed. Sentencing was set for 6/22/2009 but changed to 3/8/2010 09:00 AM before Judge Cormac J. Carney. Documents sealed

Adam Zuckerman pled guilty with the jury trial date of July 8, 2008 at 8:30 a.m. as to this defendant only. There were questions regarding his plea. Currently Sentencing set for 7/19/2010 before Judge Cormac J. Carney. Plea agreement as of December 7, 2007 is sealed. He has allegedly gone on a cruise, and with permission traveled to Israel, but has now turned in his passport.

Notably absent in court records is John J. Callaghan, 38, of Warminster, Pennsylvania, who worked at Citicapital. Allegedly there were three or four CitiCapital bank officers named. According to a CitiCapital press release three were dismissed. They are not named, nor allegations that the fraud was higher up in administration.
Subprime and other large losses seem to have taken precedence.
According to the US Attorney press release, complaints from Citibank started their investigation.

Here are those originally named by the FBI and US Attorney's office:
James T. Raeder II, 42, of Mission Viejo, who worked at CapitalWerks/Preferred Lease
Mark McQuitty, 46, of Trabuco Canyon, who worked at CapitalWerks/Preferred Lease
Richard Norris, 60, of Los Angeles, who worked at CapitalWerks/Preferred Lease
Anthony E. Watson, 61, of San Clemente, who worked at CapitalWerks/Preferred Lease
Douglas Cox, 37, of Rancho Santa Margarita, who worked at CapitalWerks/Preferred Lease
Adam Zuckerman, 37, of Laguna Beach, who worked at Brickbanc
Kirk McMahan, 31, of Newport Beach, who worked at Brickbanc
Paul Arnold, 56, of Laguna Hills, who worked at Brickbanc
Geoff Silver, 35, of Calabasas, who worked at Silver Industries
Brian Sime, 29, of Irvine, who worked at Brickbanc
John J. Callaghan, 38, of Warminster, Pennsylvania, who worked at CitiCapital
Leo Najera, 28, of Mission Viejo, who worked at ECCI
John Budge, 38, of Sartell, Minnesota, who worked at Bach Business Credit
Leigh Dorand, 42, of Phoenix, who worked at Tech Capital
James Breedlove, 51, of Newport Beach, who worked at Santa Fe Equipment
Mark Castleman, 47, of Chino Hills, who worked at Industrial Information Systems
Les Spitzer, 60, of Grenada Hills, who worked at Pyramid Infinite
George Simon, 38, of Redondo Beach, who worked at Advantage IT Solutions
Jeff Greenough, 48, of Laguna Beach, who worked at Peniche
Troy Worrell, 47, of Newport Beach, who worked at Peniche;
Lourey McComber, 53, of Prescott Valley, Arizona, who worked at Peniche
Harold Gold, 75, of Falmouth, Massachusetts, who worked at Leasing Services
Nohad Mousa, 40, of Anaheim, who worked at Saut Wa Soora, Inc.

(1) Part II-"Inside Lease Fleece"--- by Christopher Menkin

(2) Adam Zuckerman: the man behind Lease Fleece?

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



Letters! We get Email~!

(most chronological)

"CIT should have stayed in it's core businesses, equipment financing being one of them. According to insiders, the leasing broker generated portfolio of equipment finance contracts was one of it's most profitable divisions. Instead, it cut off all it's brokers, closed it's broker program, and went into sub-prime residential mortgages and student loans and got creamed.

"Just another greed story."

(name with held)


"This goes to confirm your story about 2 Orange County leasing companies that were listed in the 7/13/2009 bulletin board complaint.

"All sales reps that are on inbound lead program are REQUIRED to close $1000 worth of none commissionable doc fee's to assist with generating enough income to continue marketing at current levels. Company strategy will be to close transactions that are very challenging to get completed, if they do not get approved the check will be returned quickly less a $250 processing fee. Four checks a month @ $250 doc fee per deal, $1000.

"Minimum funding requirements for company before circuit breakers are activated

" As many of you know the current credit environment is extremely challenging not just for the company but for each of you individually. Since January the company has continued to operate in an unprofitable manner and unfortunately the only bail out we can receive is one that the company generates internally. Currently we are in the process of eliminating our ******* office and the expenses associated with that, which will be an important step. Secondly we have put a hiring freeze on both administrative support and new sales personnel till July. Cutting any administrative staff would harm service levels and ultimately cost us more money than we would save.. Thirdly we are trying some new avenues of marketing to generate leads that will cost the company less money but continue to generate deals.. Lastly the sales team has to step up to do their part and contribute should the company continue to suffer losses in future months. The following is the companies new policy regarding minimal production from sales force before commissions are adjusted.

"Circuit Breaker #1-Should the sales force only fund an average of $6k per sales person or less each sales person on full commission will be paid 10% less on their first 5k in GM if they have not funded their quota for the month. Salary plus commission sales reps would receive only 5% instead of 10% on their fundings.

"Circuit Breaker #2-Should the sales force only fund an average of $6001 to $7500 per sales person, each sales person on full commission will be paid 5% less on their first 5k in GM if they have not funded quota for the month. Salary plus commission sales reps would receive only 7.5% instead of 10% on their fundings.

"So to explain how this will work going forward in May. For the month of may the company will have 21 sales reps generating business. Should the company fund less than $126,000 in GM #1 circuit breaker will be enacted by accounting. Should the company fund less than $157,500 in GM #2 circuit breaker will be enacted by accounting."


"I've read this posting thrice and remain baffled:

"'.............Since the Top 25 Most Influential in Leasing was well received, it is time to salute the women who have contributed to the finance and leasing industry… They also should meet the caliber of those nominated. To start the list, here are the women who made it to the Top 25 Most Influential in Leasing:...............' Does this mean that following the selection of the women, you will then run another for 'Influential Men' to retain 'Gender Balance'?"

(name with held)

(A male reader who complimented Leasing News on the "Top 25 Most Influence in Leasing" suggested one for women in the industry. I thought it was a very good idea to recognize women and their influence in the leasing industry. One day they may get equal pay and recognition with men. Editor.)


"There was a day when we discounted to 12+ sources. Now majority falling into true broker channels. Our biz activity picking up lately but still 45 percent off lst years pace. "

(name with held)


Back in early June you predicted business was going to be dead through August. It looks like your predictions are correct. Are you hearing anything positive from brokers out there? I spoke to a friend who works in a 10 person shop and he said 50% have zero for the month and the other 50% of the sales reps have 1-8k in. I cannot see how anyone is prosperous.

Eric Desmond


"I thought you had deleted US Bank Manifest from the "Small Ticket Market Continues to Shrink" story because of the cutbacks there. we were told first hand in early JUNE, by US Bank/Manifest, that they had cut-reallocated-reassigned almost 60% of their staff on the leasing side, and in turn were cutting relations with up to 60% of their brokers, who did not have 70% approval ratio, 60% fund ratio, and acceptable (less than 3%) delinquency on the books with them.

"Basically, they did not have the manpower to service brokers that were sending in "declines" - even though they had tightened up their credit window substantially from a 670 fair Isaac to a minimum 710, and implemented the most drastic credit changes of any funding source I am aware of. I feel bad for those brokers that got cut, some of them having relations dating back to early 1990's, and the loyal employees. "

(Actually, it was an oversight as explained. US Bank Manifest is a long time small ticket funder. First the Navigator program with Pentech folded, then there were several realignments up-top, reported by Leasing News. In the month that followed, several employees were told they were let go as US Bank Manifest was cutting back, but Leasing News could never official confirm it. There also is a strong alumni still active in leasing.

(What you are observing is happening in the industry, thus the list of funders no longer accepting broker business. For years, independents have stated it costs the funder nothing to have a broker working for them and therefore the company was better off. The fact is there not only is processing costs, but in today's marketplace, more brokers are not making approval guidelines, let along booked to approve ratios. Editor)


"The Leasing News about our move, and including the part that we are looking for new broker business. I had 6 e-mails waiting for me this morning from brokers that read the article and are looking to establish a relationship. You have a great circulation that gets out to a lot of people!

"Thanks once again for the positive publicity that you have given us in the Leasing News today. We had over 25 new broker inquiries that were driven by this today!"

Steve Crane, CLP
Bank of the West
Equipment Financing Division
201 N. Civic Drive, #360B
Walnut Creek, CA 94596
Phone (888) 244-0551 ext. 3899


From you and from the whole NorVergence story I learned more than anybody who did five years of school in economy.

Gianni Fiorini

Aut Viam Inveniam Aut Faciam -

"I'll Either Find a Way or Make One"


"I have never before written to you to complain about the content of your newsletter (which I have followed for many years), but your not-so-subtle "cartoon" regarding Mike Leichtling's advice to Rudy Trebles is truly reprehensible. IFC's modus operandi is well known in the industry. To underhandedly malign Mike's integrity as a lawyer and counselor, however, cannot be overlooked by those of us who have known him and worked closely with him for decades.

"You either don't know him or, worse, are making gross assumptions due to his formal relationships. If anything, it makes me question both your motives and your integrity. At the very least, you owe Mike a personal apology. More appropriately, you should apologize to him publicly in your newsletter."


Jerry Sprole
F, Jared Sprole
Leasing Technologies International, Inc.
221 Danbury Rd
Wilton, CT 06897
W. 203-563-1100 x212

(This type of bully letter instigated by Rudy Trebels attorney, who is also a public figure appearing on Equipment Finance and Leasing Association panels on fraud and ethics fits the cartoon perfectly. Editor)

619,557 4315 telephone
Attorneys at Law
550 West B Street, Suite 400
San Diego, CA 92101-3599
619.235.4040 telephone
619.231.8796 facsimile

April 9, 2009

Via First Class Mail and E-mail

Mr. Christopher Menkin
Leasing News, Inc.
14127 Capri Drive, #7
Los Gatos, CA 95032

Re: Leasing News

Dear Mr. Menkin:
We are attorneys for IFC Credit Corporation ("IFC") and Mr. Rudy Trebels ("Mr. Trebels"). We write to you on their behalf regarding the nature and content of the Leasing News website ( and the publication published and distributed by you under the name "Leasing News" (the website and the publication are called collectively "Leasing News."). For the reasons outlined below it is our clients' position that your publication of Leasing News constitutes an unfair and deceptive business practice under California law.

   Leasing News holds itself out to the leasing industry and to the general public as a source for "Independent unbiased and fair news about the Leasing Industry." This representation is false and deceptive as Leasing News is in fact the opposite of what it purports to be. You are not simply the "Publisher/Editor" of Leasing News, but also the principal of American Leasing L.P. ("American Leasing"), a commercial enterprise which has been involved in the leasing business for many years and is a competitor of IFC and others in the industry.

   Notwithstanding your self-serving "Policy Statement" for Leasing News that American Leasing is "a separate company" and that you purportedly strive to "keep both companies distinct entities to avoid any journalistic conflicts", this inherent conflict is irreconcilable. False, inaccurate, defamatory, and disparaging statements about IFC, Mr. Trebels and others in the leasing industry can only serve to injure them and benefit you and American Leasing. Leasing News published numerous articles and statements about IFC and Mr. Trebels, none of which can be reasonably characterized as "independent," "unbiased," or "fair."

   We note with interest that your publication highlights that it has an independent "Board of Advisors". The Board of Advisors includes active participants in the leasing industry, including several members who compete with IFC and others in the industry. Just as surprising and of concern is the fact that the Board includes individuals with extensive backgrounds in journalism and reporting. Given the observations in this letter, it is disconcerting that these leasing and news advisors support your claim that your publication and its content are independent, fair and unbiased.

   Further, articles and statements about IFC and Mr. Trebels published by you in Leasing News have damaged and will continue to damage the business reputations of IFC and Mr. Trebels. Readers of your publication have been defrauded and are being misled as to your motives and intentions in writing and circulating such articles.

   We note that Leasing News claims it substantiates all submissions before publication. A truly journalistic publication should be held to the highest standard of accuracy, and we believe that Leasing News has failed this standard as to IFC, Mr. Trebels, and others in the industry. It is clearly wrong and unfair for you to simply repeat disparaging rumors, speculative gossip and innuendo or to publish inflammatory exaggeration as "unbiased facts" or "news" and accordingly we request that you cease and desist making such statements. If you have independent support or legitimate sources that accurately substantiate your claims regarding IFC or Mr. Trebels, please identify them for us. We welcome the opportunity to evaluate them and stop any misrepresentations regarding IFC or Mr. Trebels at their origin.

   The false portrayal of Leasing News as a news outlet is an unfair and fraudulent business practice, and constitutes unfair, deceptive, untrue or misleading advertising under California Bus. & Prof Code § 17200, et seq., inter alia. Accordingly, we also request you immediately cease and desist from portraying Leasing News as "Independent unbiased and fair news about the Leasing Industry" and that your role as a long-time participant in the leasing industry be prominently and appropriately disclosed on your website and publication.

   Please be reminded that should you fail to promptly remedy these deceptive and unfair business practices, our clients intend to enforce any and all rights available to them including legal action against you. Nothing contained herein should be construed as a waiver of any of our clients' rights and remedies, which are expressly reserved.

Very Truly Yours,

Jason S. Harley

cc: Leasing News Board of Advisors
American Leasing, L.P.
Michael A. Leichtling, Esq.



Phoenix, Arizona, Tuesday, July 28th Networking

Networking and...

The Arizona Equipment Leasing Association invites you to join us for a networking session with selected funders and your peers followed by an evening of baseball with the Arizona Diamondbacks

Meeting and Networking:

Tuesday July 28, 2009 5:00 p.m.

The Old Spaghetti Factory
1418 N. Central Ave.
Phoenix AZ 85004

Followed by:

Arizona Diamondbacks vs. the 2008 World Champion Philadelphia Phillies
Chase Field 6:40 P.M.

We need your early reservation and payment to get the correct ticket count for the game!!!

Fee: $25 payable prior to June 30, 2009. Price includes, networking with peers and funders, heavy hors deurves, drink ticket and a ticket to ride the new Metro to the game AND a game ticket. There is plenty of FREE parking behind the restaurant.

RSVP/Registration form to



Classified ads-Leasing Attorneys

Birmingham, Alabama
The lawyers of Marks & Weinberg, P.C. have over 30 years experience in dealing with virtually every type of equipment financing and are recognized throughout the industry for prompt, practical solutions and exemplary service. They offer cost-conscious, effective lease enforcement and good counsel.
California, National: city: Riverside
Ellen Stern - get results, reasonable pricing; numerous industry contacts, nearly 30 yrs SoCal, 20 yrs equip.: CFL license specialist, documentation, work-outs, litigated collections, recoveries; deal-maker.

Kenneth C. Greene
California & Nevada
Hamrick & Evans, LLP, Universal City , LA; San Francisco Bay
Area, No.Calif. & Nevada. Call for free consultation (828)763-5292 or (415) 806-2254,
Connecticut, Southern New England:
EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates.
Los Angeles, Southern CA
Seasoned attorney representing secured creditors in auto finance and truck/equipment lease industry.  Bankruptcy and State Court litigation.   Vincent V. Frounjian (818) 990-0605 or email:

Encino, California: Statewide “ELFA”
Hemar, Rousso & Heald, LLP 30 yr excellent reputation Lessor representation commercial litigation, debt collection, and bankruptcy.
Call Stephen E. Jenkins Esq (818) 501-3800

Los Angeles, Statewide: CA.     "ELFA" Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly cbasis.

Los Angeles -statewide: CA      "ELFA"
Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email:   

Long Beach, CA
Wagner & Zielinski,  successfully representing lessees/ lessors.  Not a member of any leasing organization, therefore not beholden to special interests.  Richard Wagner
(562) 216-2952

Long Beach CA.
Paul Bent -- 30 years experience in all forms of equipment leasing, secured lending, and asset based transactions, from analysis and deal structuring to contract negotiations to closing to private dispute resolution. (562) 426-1000

Law Firm - Service, Dallas, TX. "ELFA"
Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.

National: Coston & Rademacher: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate/finance, workouts, litigation, bankruptcy, portfolio management. Chicago-based national practice. Jim Coston, CLP (Members: ELFA, NEFA).

St. Louis County , MO. - statewide:
Schultz & Associates LLP., collections, negotiation, and litigation. Also register and pursue recovery on foreign judgments. Contingency and reasonable hourly rates.
Ronald J. Eisenberg, Esq. (636) 537-4645 x108
NJ,De,Pa: Specializing in leased equipment/secured transactions. Collections, replevins/workouts reasonable rates. Sergio Scuteri/Capehart & Scratchard, PA /
Thousand Oaks, California: Statewide coverage
Spiwak and Iezza 20+ years experience, representing Lessors in both State/ Federal Courts/all aspects of commercial leasing litigation.
Nick Iezza 805-777-1175
Westport, CT: We represent finance companies, banks, lessors, etc., in replevins/seizures, collections and bankruptcy matters in Connecticut and New York. Flat fee, contingency and hourly rates.

Posting is free:



Fernando's View
By Fernando F. Croce

Fans will flock to "Harry Potter" in theaters and "Watchmen" on DVD, but this week also brings a variety of smaller gems (including "In the Loop" and "The Great Buck Howard") which also deserve attention.

In Theaters:

Harry Potter and the Half-Blood Prince (Warner Bros.): For the legions of fans of author J.K. Rowling, every new "Harry Potter" movie is nothing less than an event. They will not be disappointed by the latest entry in the franchise, which continues the phenomenally successful alchemy of coming-of-age drama, cozy British whimsy, and colorful special-effects. Harry Potter (Daniel Radcliffe), Ron Weasley (Rupert Grint) and Hermione Granger (Emma Watson) are back at Hogwarts School of Witchcraft and Wizardry, but the excitement over their fast pangs of romance and the arrival of a new professor (Jim Broadbent) are short-lived, as the evil Lord Voldemort and his minions return to put the heroes' magic powers to the test. Admirers of the previous movies will be enthralled.

In the Loop (IFC Films): Comedy about serious subjects is a delicate balancing act, but director Armando Iannucci and a stellar cast succeed in creating an acerbic political satire out of grim issues. In a situation as volatile as war, misunderstanding can be disastrous, and that's just what happens when a British minister (Tom Hollander) unwittingly supports an upcoming war during a radio interview. Suddenly, the meek government official finds himself being shuffled back and forth between London and Washington, D.C., where he's questioned by doves (James Gandolfini) and hawks (David Rasche) alike. Expanded and enriched from a tart BBC sitcom, the movie works as both a very funny look at celebrity politicians and as a droll analysis at governmental issues.

New on DVD:

Watchmen (Warner Bros.): One of the decade's most highly anticipated projects, the movie version of Alan Moore's highly acclaimed graphic novel series brings plenty of action and visual extravagance to the screen. Following a group of superheroes in an alternate America, the plot portrays a world in which superhuman powers play a large role in everyday life, as well as in shadowy conspiracies. When one of his former colleagues is mysteriously killed, masked avenger Rorschach (Jackie Earle Haley) begins an investigation that involves superheroes such as Dr. Manhattan (Billy Crudup), Silk Spectre II (Malin Akerman) and Nite Owl II (Patrick Wilson). It's up to the fans to decide if director Zack Snyder ("300") has faithfully captured the spirit of the series, though audiences just looking for a thrilling yarn will surely be satisfied.

The Great Buck Howard (Magnolia): Though it quickly vanished at the box-office, this light, modest and charming comedy deserves to find an audience on DVD. Buck Howard (John Malkovich, in a juicy comic performance) is a has-been mentalist whose days of Las Vegas fame are thought to be behind him. That is, until he meets Troy (Colin Hanks), a bright young law school dropout who takes upon him to manage the fading but sill pompous star during a road tour and get him back into the limelight. Though director Sean McGinley doesn't dig too deep into the world of show-business, his touch is warm-hearted and the cast (which also includes Tom Hanks, Emily Blunt, and Steve Zahn) works up some genuine magic.

Grey Gardens (HBO): Truth really is stranger than fiction. In the early 1970s, an elderly woman named Edith Bouvier Beale and her middle-aged daughter "Little Edie," both alleged relatives of the Kennedys, were found living in a decaying mansion full of cats and raccoons. They were the subject of an unsettling 1973 documentary, but in this terrific made-for-cable production the same story becomes a highly enjoyable fable that mixes offhand tragedy and compassionate comedy. Director Michael Sucsy does an eerily accurate job at re-creating many of the original documentary's images, but it's the remarkable performances by Jessica Lange and Drew Barrymore which lift the movie toward greatness (and which will deservedly be remembered at the Emmys).



by Steve Chriest

Impacting Performance Metrics That Matter

The senior executives at a new client organization we recently began working with understand the three business performance metrics that really matter, and how to improve them. They also know that improving any of these metrics can deliver unexpected bonuses for the business.

These forward-thinking executives know that at the end of the day there are three crucial performance metrics that comprise the three legged stool that supports all business enterprises. Every organization, large and small, should closely monitor three metrics that really matter:

- customer satisfaction
- employee satisfaction
- cash flow

Interdependent Metrics

Think of these metrics as interdependent. A positive or negative change in any one metric will affect at least one other metric, and probably both. Mismanagement of these crucial performance metrics can tank a marginal business and severely damage even the most successful enterprise.

Facing a decline in customer satisfaction rating, our client's executive team set a strategic objective to improve this crucial performance metric. They bet company resources on the notion that training and educating employees was a key to improving customer satisfaction among the 800 customers they survey every year.

It's hard to argue with our client's reasoning when they increased their customer satisfaction rating from 94% to 98% in one year. The company's CEO credits a commitment to employee training and education with delivering these tangible business results:

- an increased ability to satisfy customers
- an increase in employee satisfaction and a decline in employee turnover
- improved cash flow

In this case, improving one crucial performance metric - customer satisfaction - impacted the other two metrics. More satisfied customers meant improved employee satisfaction as evidenced by markedly reduced employee turnover at the company. It should be no surprise that in a well-managed company, increased revenue affected the third crucial performance metric - cash flow.

Surprise Benefits

The senior executives were pleasantly surprised that a decrease in employee turnover also resulted in an increase in the company's management bench strength. This allowed the executives to conduct more effective succession planning. The CEO believes that the company's bench strength is increased with every class taken by employees.

This client's increase in customer satisfaction, employee satisfaction and cash flow occurred in a brutally competitive industry and in the middle of a mega-recession. Facing continuous, relentless pressure on margins and the specter of potential government involvement, regulation and interference in their industry, our client's senior managers are convinced that cultivating knowledge workers will help the company navigate an increasingly volatile economy in the future.

In today's ruthlessly competitive business environment there is a natural tendency to examine every corner of business operations and to maximize efficiency and eliminate unnecessary costs. The trick for senior managers is to never lose focus on any of the three crucial performance metrics that really matter for all businesses. Our new client has proven that a "learning organization" is a powerful offensive weapon in meeting the challenges of improving customer satisfaction, employee satisfaction and cash flow.

Steve Chriest is a well-respected management and sales consultant who specializes in helping organizations develop comprehensive sales processes that integrate strategy, training, sales tools and management systems to improve sales revenue.

He is the founder of Selling-UpTM, a San Francisco-based sales improvement consulting firm. He developed Selling-Up's exclusive Sales Management Operating SystemTM and is publisher of Sales Journal, a monthly sales strategy publication for an E-suite audience. Steve created Selling-Up's most popular educational offerings, including Strategic Sales RoadmapTM and online courses such as Profits and Cash - The Game of Business and Assertive Negotiating.

Steve is a regular contributor to executive-level publications such as Customer Think and Customer Management IQ. Steve recently completed his first book, Selling The E-Suite, The Proven System For Reaching and Selling Senior Executives, in which he translates his experiences as a CEO into a practical guide for selling to senior executives. Steve can be reached at:



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

CIT Pursuing Financing Alternatives

NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that its Board of Directors and management, in consultation with their advisors, are continuing to evaluate alternatives to improve the Company's liquidity. CIT is in discussions with potential lenders to secure financing.

The Company is continuing to serve customers. CIT appreciates the strong support it has received from many of its 1 million small business and middle market customers, industry associations and dedicated employees.

Individuals interested in receiving future updates on CIT via e-mail can register at

About CIT

CIT (NYSE: CIT) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the S&P 500 and Fortune 500.



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

Alta's Legal Leasing Forum to Address World Economic Crisis

In 2-Day Conference In Miami, Aug. 13-14

MIAMI, FLA---The Alta Group is holding its second Latin American Legal Leasing Forum here Aug. 13-14 to examine the latest developments in global equipment leasing and finance in light of current legal challenges in the world economic crisis. The event attracts legal counselors and business executives who are doing business in the Americas. Speakers include executives from Chile, Brazil, Mexico, Venezuela, Costa Rica and Colombia as well as the United States.

The agenda includes interactive sessions for sharing experiences, a case study presentation on syndicated leasing and presentations on topics ranging from risk management and negotiating credit agreements to dispute resolution and bankruptcy issues. Key speakers include a representative from Unidroit, several Alta consultants, banking and regulatory authorities and senior executives representing leading financial organizations operating in Latin America and in the United States. The various experts will be informative on the current regulatory trends as well as the latest applications of leasing laws worldwide.

"The objective is to provide the best practices of the global leasing industry in all aspects connect to the law," Rafael Castillo Triana, managing principal of the Latin American Division (LAR) of Alta.

The two-day program is hosted by the Alta LAR and Professional Development divisions. For more information visit It will be held at the Miami

To register go to or call 1 (305) 931-2748. (email:

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

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

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


News Briefs----

Retailers Fear Impact of a CIT Bankruptcy

Healthcare equipment financing grew in 2008

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India Govt seeks 6-month credit to pay ailing AI's fuel bill

Google profit up 19% but revenue rose only 3%

Venture capital funding takes a plunge



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California Nuts Briefs---

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"Gimme that Wine"

In Spain, These Hills Are Alive (Again!)--Eric Asimov

Wine Investment Remains Strong Alternative According To Wilson Douglas

Time to reconsider oak-free chardonnay

Is Constellation in Trouble?,1197,5199,00.html

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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.



Today's Top Event in History

1980- Ronald Reagan formally accepts Republican nomination for president. George Bush of Texas , former ambassador to the UN and former director of the CIA, was nominated for the vice-presidency. The Democratic National Convention in August then President Jimmy Carter and vice-president Walter Mondale for vice-president. Carter defeated Sen. Edward M. Kennedy of Massachusetts by a margin of nearly two to one. In November, Reagan gets 489 electoral votes to President Carter's 49, carrying 44 states with a popular vote of 42,797,153 to 34,434,100 with John Anderson, an independent candidate picking up 5,533,927. Republicans picked up 12 Senate seats for a 54-46 majority, one independent. In the House, the Democrats lost 33 seats but kept a majority of 242-192, one seat independent.


This Day in American History

    1763-birthday of John Jacob Astor, Germany , fur trader become banker, at one time, the richest man in US.
    1744-Gerry Elbridge, Fifth vice president of the US (1813—14), born at Marblehead , MA . He was a well-known “gadfly” and signer of the Declaration of Independence. His name became part of the language (gerrymander) after he signed a redistricting bill favoring his party while governor of Massachusetts in 1812. 000139
    1794- African Church of St Thomas in Philadelphia , dedicated
1794- Richard Allen organizes Philadelphia 's Bethel African Methodist Episcopal Church.

    1821 - Spain ceded Florida to the United States.
    1821 - Andrew Jackson became the governor of Florida.
    1854—King's College opened in New York City . It later changed its name
to Columbia University ( lower half of:
    1861- Congress authorizes paper money. the notes were $5( Hamilton ), $10 ( Lincoln ), and $20 ( Liberty .) They were called “demand notes” because they were payable on demand at certain designated subtreasuries. There were not legal tender when first issued but were made so by the act of March 17,1862.
    1862-Senator Henry Wilson of Massachusetts introduced and Congress passed the military act to authorized military service by African-Americans. President Abraham Lincoln signed it. The act empowered the president to accept “persons of African descent for the purpose of constructing entrenchments or performing camp competent. There was debate on blacks serving in the military, primarily from states who had seceded from the Union . There was a contingency of African-Americans who originally were going to fight on the side of the Confederates, primarily thought to protect their homes, property, and family. The government of the Confederate States refused to accept blacks into the Confederate army, whether “free man” or “slaves”, plus issued declaration of forfeiture to those who joined the Union army.
    1863-July 17, Harriet Tubman led Union Army guerillas into Maryland ,
freeing more than 700 slaves
    1863- Battle of Honey Springs, largest battle of war in Indian Territory
    1864 - Confederate President Jefferson Davis replaces General Joseph Johnston with John Bell Hood as commander of the Army of Tennessee. Davis, impatient with Johnston's defensive strategy in the Atlanta campaign, felt that Hood stood a better chance of saving Atlanta from the forces of Union General William T. Sherman. For nearly three months, Johnston and Sherman had maneuvered around the rugged corridor from Chattanooga to Atlanta. Although there was constant skirmishing, there were few major battles; Sherman kept trying to outflank Johnston, but his advances were blocked. Though this kept losses to a minimum, there was also a limit to how long Johnston could maintain this strategy as each move brought the armies closer to Atlanta. By July 17, 1864, Johnston was backed into the outskirts of Atlanta. Johnston felt his strategy was the only way to preserve the Army of Tennessee, but Davis felt that he had given up too much territory. In a telegram informing Johnston of his decision, Davis wrote, ""you failed to arrest the advance of the enemy to the vicinity of Atlanta, far in the interior of Georgia, and express no confidence that you can defeat or repel him, you are hereby relieved from command of the Army and Department of Tennessee, which you will immediately turn over to General Hood." Davis selected Hood for his reputation as a fighting general, in contrast to Johnston's cautious nature. Hood did what Davis wanted and quickly attacked Sherman at Peachtree Creek on July 20 but with disastrous results. Hood attacked two more times, losing both and destroying his army's offensive capabilities. The next day the city was occupied by Union forces under Gen. William Tecumseh Sherman.
    1867 - Harvard School of Dental Medicine was established in Boston , MA . It was the first dental school in America .
    1867- Linda Anne Eastman birthday- U.S. librarian. LE developed the children's rooms at the Cleveland Public Library, developed library extensions in hospitals, developed a Braille collection. In 1918 she became the first woman to head a metropolitan library system, that, under her tutelage became one of the largest and most complete library systems in the United States , its collection grew from 57,000 volumes to more than 2,000,000.
    1870 - A drunken brawl turns deadly when "Wild Bill" Hickok shoots two soldiers in self-defense, mortally wounding one of them. William Hickok had earned his reputation as a gunslinger a decade earlier after shooting three men in a gunfight in Nebraska. He parlayed his standing as a sure-shooting gunman into a haphazard career in law enforcement. In 1869, he was elected interim sheriff of Ellis County, Kansas. Hays City, the county seat, was a rough-and-tumble frontier town, and the citizens hoped Hickok could bring order to the chaos. Unfortunately, after Hickok had killed two men in the line of duty after just five weeks, they concluded that he was too wild for their tastes and they elected his deputy to replace him in November. Unemployed, Hickok passed his time gambling, drinking, and occasionally working as a hunting guide. He quickly became bored and was considering taking work at the nearby Fort Hays as an army scout. On this day in 1870, Hickok had been drinking hard at Drum's Saloon in Hays City. Five soldiers from the 7th Cavalry stationed at Fort Hays were also at the bar. They were drunk and began to exchange words with the notoriously prickly "Wild Bill." A brawl broke out, and the soldiers threw Hickok to the floor. One trooper tried to shoot Hickok, but the gun misfired. Hickok quickly pulled his own pistols and opened fire. He wounded one private in the knee and wrist, and another in the torso. The three remaining soldiers backed off, and Hickok exited the saloon and immediately left town. A clear case of self-defense, Hickok was cleared of any wrongdoing. Yet, one of the soldiers, Private John Kile, later died of his wound and Hickok's chances of becoming an army scout evaporated. He spent the next six years working in law enforcement, gambling, and appearing in Wild West shows. He was murdered in a Deadwood, South Dakota, saloon in 1876. 1877 - Riots and violence erupted in several major American cities stemming from strikes against railroads in protest of wage cuts. Strikes started against the Baltimore & Ohio, and quickly spread west, with riots erupting in Baltimore, Pittsburgh, Chicago and St. Louis. Nine were killed when Federal troops were sent into Martinsburg, West Virginia. On July 21, 26 were killed and the Union Depot and machine shops were burned down.
    1888- Erle Stanley Gardner ( yes, Erle )American author of detective fiction, born at Maiden, MA. Best remembered for his series about lawyer-detective Perry Mason, Gardner also wrote novels under the pen name A.A. Fair.
    1891- Anna Moscowitz Koss birthday - social-minded U.S. judge who devoted much of her private life to working for improving the services for women, juveniles, and children
    1897 - The Steamer Portland arrived into Seattle from Alaska with 68 prospectors carrying more than a ton of gold. The Seattle Post-Intelligencer announced that men with gold from Alaska were landing. This unleashed the Klondike gold rush and tens of thousands headed for the Yukon. The Klondike gold rush gave America and Canada a psychological boost in getting the economy moving again after the terrible depression that followed the 1893 crash.
    1898-Birthday of Berenice (sic.) Abbott, born at Springfield , OH , and went on to become a pioneer of American photography. She is best remembered for her black and white photography of New York City in the 1930's, many of which appeared in the book Changing New York. After published his collection, she began photographing scientific experiments that illustrated the laws and processes of physics. She died at Monson , ME , December 11,1991. . Her work was once described by an art critic as "...a chess game between light and shadow." Her portraits are among the most outstanding ever done, although she is best known for her studies of New York city .
    1920 - Sinclair Lewis finished the now-famous novel, " Main Street ".
    1921-birthday of guitarist Mary Osborne, Minot , ND
    1925-birthday of singer Jimmy Little Scott, Cleveland, OH
    1926-birthday of trumpet player Ray Copeland, Norfolk , VA
    1928-birthday of drummer Joe Morello , Springfield MA
    1933-birthday of drummer Ben Riley, Savannah , GA
    1934 - One of the worst heat waves in the history of the nation commenced. During the last two weeks of the month extreme heat claimed 679 lives in Michigan, including 300 in Detroit alone.
    1934-birthday of trumpet player Bobby Bradford Cleveland MS
    1936- General Francisco Franco led an uprising of army troops based in North Africa against the elected government of the Spanish Republic . Spain was quickly divided into a Nationalist and a Republican zone. Franco's Nationalists drew support from Fascist Italy and Nazi Germany. Many saw this as a war to follow in Europe later. The USA had their foreign policy as “Me First.” Ernest Hemingway is best known as a correspondent covering this war and for his short stories and novel, “For Whom the Bell Tolls.” On Apr 1,1939, the Nationalists won a complete victory when they entered Madrid . Franco ruled as dictator in Spain until his death in 1975.
    1933- Dr. Albert Ernest Forsythe of Atlantic City , NJ , became the first African-Americans to make a transcontinental flight ( made by African-American Charles Alfred Anderson of Bryn Mawr , PA. ) He left Atlantic City on July 17 at 2:49am and arrived at Los Angeles , CA , on July 19 at 5:30pm.
    1938-Douglas Grace Corrigan, an unemployed airplane mechanic, left Brooklyn, NY's Floyd Bennet field, ostensibly headed for Los Angeles, CA, in a 1929 Curtis Robin monoplane. He landed 28 hours, 13 minutes later at Dublin , Ireland 's Baldonnel airport, after a 3,150 mill nonstop flight without radio or special navigation equipment and in violation of American and Irish flight regulations. Born at Galveston , Texas , January 22,19-7. Corrigan received a hero's welcome home; he was nicknamed “ Wrong Way ” Corrigan because he claimed he accidentally followed the wrong end of his compass needle. Died at New York , NY December 9, 1995.
    1939-Charlie Barnet Band records “Cherokee” ( Bluebird 10373)
    1941 - A prolonged heat wave over Washington State finally came to an end. Lightning from untimely thunderstorms was responsible for 598 forest fires.
    1941-birthday of Daryle Lamonica Oakland Raider QB (AFL leading passer 1967) .

    1943--WAYBUR, DAVID C. Medal of Honor Rank and organization: First Lieutenant, U.S. Army, 3d Reconnaissance Troop, 3d Infantry Division. Place and date: Near Agrigento, Sicily, 17 July 1943. Entered service at: Piedmont, Calif. Birth: Oakland, Calif. G.O. No.: 69, 21 October 1943. Citation: For conspicuous gallantry and intrepidity at the risk of life above and beyond the call of duty in action involving actual conflict with the enemy. Commander of a reconnaissance platoon, 1st Lt. Waybur volunteered to lead a 3-vehicle patrol into enemy-held territory to locate an isolated Ranger unit. Proceeding under cover of darkness, over roads known to be heavily mined, and strongly defended by road blocks and machinegun positions, the patrol's progress was halted at a bridge which had been destroyed by enemy troops and was suddenly cut off from its supporting vehicles by 4 enemy tanks. Although hopelessly outnumbered and out-gunned, and himself and his men completely exposed, he quickly dispersed his vehicles and ordered his gunners to open fire with their .30 and .50 caliber machineguns. Then, with ammunition exhausted, 3 of his men hit and himself seriously wounded, he seized his .45 caliber Thompson submachinegun and standing in the bright moonlight directly in the line of fire, alone engaged the leading tank at 30 yards and succeeded in killing the crewmembers, causing the tank to run onto the bridge and crash into the stream bed. After dispatching 1 of the men for aid he rallied the rest to cover and withstood the continued fire of the tanks till the arrival of aid the following morning.
    1944--Two ammunition ships explodes at Port Chicago, California kills 322 - including 202 African-Americans assigned by the Navy to handle explosives. The resulting refusal of 258 African-Americans to return to the dangerous work forms the basis of the trial & conviction of 50 of the men in what is called the Port Chicago Mutiny. The glare of the explosion could be seen in San Francisco, some 35 miles away. It was the worst home-front disaster of World War II. Officially, the world's first atomic test explosion occurred on 16 July 1945 at Alamogordo, New Mexico; but the Port Chicago blast may well have been the world's first atomic detonation.
Rank and organization: Corporal. U.S. Army, Company D, 15th Infantry Regiment, 3d Infantry Division. Place and date: Near Choo Gung-Dong, Korea, 16 and 17 July 1953. Entered service at: Fort Worth, Tex. Born: 26 September 1931, Camden, Tenn. Citation: Cpl. Pendleton, a machine gunner with Company D, distinguished himself by conspicuous gallantry and indomitable courage above and beyond the call of duty in action against the enemy. After consolidating and establishing a defensive perimeter on a key terrain feature, friendly elements were attacked by a large hostile force. Cpl. Pendleton delivered deadly accurate fire into the approaching troops, killing approximately 15 and disorganizing the remainder with grenades. Unable to protect the flanks because of the narrow confines of the trench, he removed the machine gun from the tripod and, exposed to enemy observation, positioned it on his knee to improve his firing vantage. Observing a hostile infantryman jumping into the position, intent on throwing a grenade at his comrades, he whirled about and killed the attacker, then inflicted such heavy casualties on the enemy force that they retreated to regroup. After reorganizing, a second wave of hostile soldiers moved forward in an attempt to overrun the position and, later, when a hostile grenade landed nearby, Cpl. Pendleton quickly retrieved and hurled it back at the foe. Although he was burned by the hot shells ejecting from his weapon, and he was wounded by a grenade, he refused evacuation and continued to fire on the assaulting force. As enemy action increased in tempo, his machine gun was destroyed by a grenade but, undaunted, he grabbed a carbine and continued his heroic defense until mortally wounded by a mortar burst. Cpl. Pendleton's unflinching courage, gallant self-sacrifice, and consummate devotion to duty reflect lasting glory upon himself and uphold the finest traditions of the military service.
    1950---Top Hits
Bewitched - The Gordon Jenkins Orchestra (vocal: Mary Lou Williams)
My Foolish Heart - The Gordon Jenkins Orchestra (vocal: Eileen Wilson)
Mona Lisa - Nat King Cole
Mississippi - Red Foley
    1952-Goerge Shearing Quintet records “Lullaby of Birdland” MGM 11354)
    1953-The first Navy ace in Korea was Lieutenant Guy Bordelon, who achieved his fifth victory in a World-War-II-vintage propeller-driven F-4U Corsair. He was awarded the Navy Cross
    1954- the First Newport Jazz Festival. The 1956 movie “High Society” made this become a worldwide event each year.
    1954- With Jim Gilliam (2b), Jackie Robinson (3b), Sandy Amoros (lf), Roy Campanella (c), and Don Newcombe (p) in the starting lineup against the Braves, the Dodgers field the first team which consists of a majority of black players. The historic five helps Brooklyn beat Milwaukee at County Stadium, 2-1.
    1954 –The first major league baseball game in which the majority of the players on one team were African-American was played between the Brooklyn Dodgers and the Milwaukee Braves at Milwaukee , WI . the Braves won 6-to-1. The black players on the Brooklyn team were Donald N. Newcombe, pitcher; Roy Campanella, catcher; James William Gilliam, second base; Jackie Robinson, third base, and Edmundo Isasi Amoros, left field.
    1955- Disneyland , America 's first theme park, opened at Anaheim . I remember visited it in 1956 and playing Dixieland at the frontier saloon, and watching it grow into an international attraction and destination site. Many did not know that Walt Disney had an apartment there and supervised all during the week. He would stay some weekends, and since the saloon originally did not serve anything alcoholic, he would attend some Dixieland sets with his famous paper cup.
    1958---Top Hits
The Purple People Eater - Sheb Wooley
Hard Headed Woman - Elvis Presley
Poor Little Fool - Ricky Nelson
Guess Things Happen that Way - Johnny Cash
    1960-birthday of Scott Norwood NFL kicker (Buffalo Bills-Superbowl XXV goat)
    1961--Motown Records releases The Supremes' second single, "Buttered Popcorn" with "Who's Loving You" on the flip side. The record, featuring Florence Ballard on lead vocal, would be a total flop.
    1961- Roger Maris loses a HR (of his 61) due to a rain-out. Ford Frick rules that if anyone breaks Babe Ruth 60 HR record, it   must be done in 1st 154 games
    1966- Jim Ryun sets mile record (3m51s3)
    1966--Allen Ginsberg read poetry and Sopwith Camel performed in concert at the San Francisco Fillmore, to Benefit for Artist Reorganization Throughout San Francisco A.R.T.S. Gary Goodrow of The Committee emceed.

Artist: Wes Wilson
    1966---Top Hits
Hanky Panky - Tommy James & The Shondells
Wild Thing - The Troggs
You Don't Have to Say You Love Me - Dusty Springfield
Think of Me - Buck Owens
    1974-Bob Gibson of the St. Louis Cardinals struck out Cesar Geronimo of the Cincinnati reds to become the second pitcher in baseball history, after Walter Johnson, to strike out 3,000 batters. Gibson pitched in the major leagues from 1959 through 1975 and finished with 3, 117 strikeouts.
    1974---Top Hits
Rock Your Baby - George McCrae
Annie's Song - John Denver
On and On - Gladys Knight & The Pips
He Thinks I Still Care - Anne Murray
    1978-Pitcher George “Doc” Medich of the Texas Rangers saved the life of a fan suffering a heart attack before a game in Baltimore gains the Orioles. Medich, a medical student, administered cardiac first aid until additional help arrived.
    1968-The Beatles' film, Yellow Submarine debuted in theatres this week. The Fab Four weren't originally too keen about the picture, but after seeing elements of the cartoon, liked it enough to make a cameo appearance at the end. The voices in the film were actually actors and not The Beatles themselves, but Ringo Starr said that years later, people were still asking him why he "pushed the button" that created all of the chaos in the animated picture.
    1966- Jim Ryun sets mile record (3m51s3)
    1980- Ronald Reagan formally accepts Republican nomination for president. George Bush of Texas , former ambassador to the UN and former director of the CIA, was nominated for the vice-presidency. The Democratic National Convention in August then President Jimmy Carter and vice-president Walter Mondale for vice-president. Carter defeated Sen. Edward M. Kennedy of Massachusetts by a margin of nearly two to one. In November, Reagan gets 489 electoral votes to President Carter's 49, carrying 44 states with a popular vote of 42,797,153 to 34,434,100 with John Anderson, an independent candidate picking up 5,533,927. Republicans picked up 12 Senate seats for a 54-46 majority, one independent. In the House, the Democrats lost 33 seats but kept a majority of 242-192, one seat independent.
    1982---Top Hits
Don't You Want Me - The Human League
Rosanna - Toto
Hurts So Good - John Cougar
'Till You're Gone - Barbara Mandrell
    1985 - The nation's second largest banking company, Bank of America of San Francisco, CA, reported a second-quarter loss of $338 million.
    1986 - The largest bankruptcy filing in U.S. history took place as LTV Corporation asked for court protection from more than 20,000 creditors. LTV Corp. had debts in excess of $4 billion.
    1987 - Slow moving thunderstorms caused flooding on the Guadalupe River in Texas resulting in tragic loss of life. A bus and van leaving a summer youth camp stalled near the rapidly rising river, just west of the town of Comfort, and a powerful surge of water swept away 43 persons, mostly teenagers. Ten drowned in the floodwaters. Most of the others were rescued from tree tops by helicopter.
    1987 - Yankees' first baseman Don Mattingly becomes the first American League player to hit a home run in seven consecutive games.
    1988 - A dozen cities in the eastern U.S., and six others in California, reported record high temperatures for the date. Downtown San Francisco, CA, with a high of 103 degrees, obliterated their previous record high of 82 degrees. Philadelphia, PA, reported a record five straight days of 100 degree heat, and Baltimore, MD, reported a record eight days of 100 degree weather for the year. Afternoon and evening thunderstorms produced severe weather along the Middle Atlantic Coast, and over southern New England.
    1990-the Minnesota Twins became the first team in major league history to record two triple plays in the same game when they turned the trick against the Boston Red Sox. But the Red Sox won, 1-0.
    1990---Top Hits
Step By Step - New Kids on the Block
She ain't Worth It - Glenn Medeiros featuring Bobby Brown
Hold On - En Vogue
The Dance - Garth Brooks
    1995-Netscape announced its Secure Sockets Layer (SSL) security product, designed to encourage Internet shopping, on this day in 1995. The company said the technology could conceal customers' credit card numbers from Internet merchants and hackers. At the time, the theft of credit card numbers on the Internet was costing merchants $100 million a year, Netscape officials said. The race to create security standards in the mid-1990s was followed by the explosion of Internet shopping's popularity in 1998 and 1999.
    1996 - TWA (Trans World Airlines) flight 800, carrying 230 people, including four cockpit crew members and 14 flight attendants, exploded, falling into the Atlantic Ocean off the coast of Long Island, New York . The Boeing 747 had lifted off from New York 's John F. Kennedy Airport at 8:19 p.m. bound for Paris , France . The explosion happened about 26 minutes later, some 40 miles east of New York , as the plane was climbing through 13,800 feet. The victims included celebrities in sports, entertainment and the arts, business people, and vacationers. Possibly the most poignant were the deaths of sixteen teen-agers, all students from the Montoursville, PA high school French club, and their five chaperones. There are several theories as to the cause of the explosion. Some believe that the airliner was sabotaged and destroyed by a bomb planted on board. Others swore they knew the plane had been struck by a U.S. missile. But, after a 16-month probe, the FBI announced it had found no evidence of a criminal act or stray (or otherwise) missile. It has concluded that the crash was caused by electrical arcing in the plane's center fuel tank igniting fuel vapors.
    1997-The Georgia O'Keefe Museum, opened in Santa Fe , NM . It housed major works by O'Keefe, whose paintings of desert scenes and flowers made her the best-known 210 th -century artist of the American Southwest. It was the first art museum of importance devoted to the work of an individual woman. The museum, which contained 116 paints and one sculpture, was housed in a sprawling adobe building renovated and expanded by architect Richard Gluckman. Peter H. Hassrick was the first director.
    2005 - Dave Matthews Bandís ìDreamgirlî video premieres on VH1. The band snags one of Hollywood's top actresses for the latest video from its RCA album, "Stand Up." Appearing in her first film role since the birth of her twins last year, Julia Roberts stars in the Dave Meyers-directed clip.
    2005 - Kelly Clarkson's concert in Orlando, Fla., is cybercast live via The show is also be available on demand after the conclusion of the performance.



Baseball Poem


You knew just where he was going
When you saw him press the tips of his fingers
Together as in a prayer or a childhood
Game; you knew he'd gone far away from the
Clatter of cleats on the cement dugout floor.
He wore long gray sideburns then, well after
The glory days; he wore one ring, the '69.
Sometimes, in a close game, you'd see him pull it
Off, slide it on the other way, his chin resting
In his palm, elbow propped against his knee,
Only the gravity of memory
Keeping him in this world

Written by Tim Peeler
"Waiting for Godot's First Pitch"
More Poems from Baseball
Published by McFarland and Company




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