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Leasing News is a web site that posts information, news, and
entertainment for the commercial alternate financing,
, finance and leasing industries


Senior Credit Analyst - Transportation

- Minimum 5 years of small ticket/high volume equipment finance underwriting experience preferred
- Relocation benefits available for the right candidate
- For a complete job description, please click here
Established in 1982, Pawnee Leasing Corporation located in Fort Collins, CO specializes in commercial equipment leasing and financing up to $150,000 to smaller, closely-held business enterprises. Pawnee Leasing is a U.S. subsidiary of Chesswood Group Limited, a publicly-held specialty financial services company based in Toronto, Canada (TSX:CHW).

Thursday, June 2, 2016

Today's Equipment Leasing Headlines

Archives: June 2, 2003  CapitalStream
Expands Under President/CEO Kevin Riegelsberger
Why Operating Leases Will Come Back-Explained
  by Christopher “Kit” Menkin, Editor/Publisher
Lessor in True Lease Need Not File UCC-1
      Financing Statement
By Tom McCurnin, Leasing News Legal Editor
New Hires---Promotions in the Leasing Business
  and Related Industries
Leasing Industry Ads---Help Wanted
Ascentium Capital/BSB Leasing/Pawnee Leasing
Stop Drinking the Kool-Aid,
Facebook Ads Don’t Work for Finance
FinTech #102 by Brittney Holcomb
Optimism Prevails at Most Federal Reserve Districts
Beige Book - June 1, 2016
Net Income Declines 2 Percent to $39.1 Billion
At FDIC-Insured Institutions in First Quarter 2016
Community Bank Net Income Rises 7.4 Percent to $5.2 Billion
Five Facts about the Small Business
Health Care Tax Credit
Love & Friendship/A Bigger Splash
The Player/A Married Woman/Wim Wenders: Road Trilogy
Film/Digital Reviews by Fernando Croce
Labrador Retriever (Bonded Pair)
Seattle, Washington  Adopt-a-Dog
Leasing/Finance Conferences
United States/Canada
News Briefs---
31 Highest Paid CEOs in Financial Services
    in Total Compensation
Yellen: Rate hike probably appropriate
     in the coming months
AirAsia Gets $1 Billion Offer
    to Acquire Leasing Company
U.S. auto sales fall in May as growth slows
"reaching a plateau after six straight years of growth"
PayPal Isn’t a Bank, But It May Be
      the New Face of Banking
Financial tech firm Hudson River takes two floors at 4 WTC
  Pioneer in FinTech Industry
Rondout Savings Bank Broadens Technology Capabilities
    Through New Core Platform from CSI
Third-party sellers giving Amazon a huge boost
 2+ million merchants sell their goods under Amazon’s umbrella
Uber raises $3.5 billion from Saudi investment fund
  They Get Seat on the Board

Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months (Be Careful of Doing Business)
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######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.




Archives: June 2, 2003  CapitalStream
Expands Under President/CEO Kevin Riegelsberger

CapitalStream Secures $21 Million for Strategic Acquisitions New Funding Fuels Company's Leadership Role in Offering Enterprise Software to Financial Institutions SEATTLE, WA
CapitalStream(tm), a pioneer in front office automation solutions for commercial finance operations, today announced it has raised over $21 million in investor funding, designated for strategic industry acquisitions. Backed by investor firms FTVentures, Bank of America, Polaris Venture Partners, Mobius Venture Capital, Voyager Capital, and The Benaroya Company, CapitalStream will acquire technology and software providers that expand CapitalStream's product offering to its target market - the small business, equipment and commercial finance operations of financial institutions and other finance providers.
"Financial institutions are trying to integrate numerous stand-alone point solutions in order to streamline operations, grow revenue and meet customer demands for integrated products and services," said Kevin
Riegelsberger, CapitalStream's President and CEO.

"CapitalStream's FinanceCenter(tm) product line is already designed to link with these various systems to provide a complete Front Office platform. By acquiring these point solutions, we minimize the risk and maximize the value to our clients by more closely integrating these products and offering a single source for support."


Kevin Paul Riegelsberger
Chief Strategic Initiatives Officer
Avalara, Inc.

Linedata CapitalStream
Acquired by HCL Technologies, 2008.
“March 2013, Linedata acquires HCL Technologies CapitalStream, based in Irvine and Seattle and a strategic partnership agreement. This acquisition allows Linedata to offer its customers a global front-to-back solution to the credit and finance markets in North America and Europe.”


(Leasing News provides this ad as a trade for appraisals
and equipment valuations provided by Ed Castagna)




Why Operating Leases Will Come Back - Explained
by Christopher “Kit” Menkin, Editor/Publisher

Several readers wanted more information on my prediction in the coming growth of “operating leases,” also known as “true leases.”

There are strict guidelines to define this instrument, but basically it
has a “fair market value” residual. At the end of the lease term, the lessee may purchase the equipment, or return it in compliance with the return language in the lease.

More information on the new FASB rulings on the definition of
Operating Leases may be obtained directly from the Equipment Leasing and Finance Association (1)

According to the Equipment Leasing and Finance Foundation, 96% of leasing transactions written in 2015 were “Capital Leases” with a bargain purchase option and would not qualify as a “true lease.” I predict this is going to change.
Long time Leasing News Advisor and good friend Paul Weiss, Panthera Leasing, wrote, “I don't see that you made a case for operating leasing making a comeback in Tuesday’s article. You just say it will, I don't doubt you, I just don't think you explained yourself.”

Paul wrote further, ”Operating leasing has three clear applications in my mind:

“1) A user clearly not desiring to pay for the entire cost of the equipment as a strategic move, call this fleet flexibility motive. I still think the best credits here buy the gear and sell it when it’s time, so I think this scenario applies to users who want fleet flexibility and need some financing. Beware the lessor that believes they can profit from a professional fleet optimizing lessee.

“2) Less-good-credits that can't get bank loans, and the equipment has decent future value, so the true lessor can get a deal done, earn a good rate of return with a good residual guess, but not kill the customer on rent.

“3) Many, many, others that wanted to optimize their balance sheet and show ‘rental expense only.’ This is the fat part of the market, I think. Off balance sheet financing, prompt the harp music, this is the land of milk and honey for true leases.”

Paul said, “I think the piece in fact wasn't up to your standard, it didn't really enlighten us.

“Please help me learn something today!

“Hugs and kisses”


There are several components that make my prediction about Operating Leases making a comeback. It may be partly due to the new FASB laws. In fact, it may be even in despite of it.

My prediction comes from remembering the history of leasing. (2) There were tax incentives, yes, but the real growth in leasing came from the purpose of the financial instrument itself with little money down and a real residual.  Remember, US Leasing and Bank of America were first with Operating Leases.  Most of them were for computers, being replaced relatively quickly with faster, better, and smaller machines. And there was a market for the used computer, too. They were also leased again. In fact, several times, and finally to companies outside the United States. Computers, software, new applications grew because of leasing.

I see the same with what new terms are calling, "wearables" and "internet of things."  It is changing our lifestyle, such as smartphones, where in reality you now trade them in every two years for a new phone (that is a "lease.")

This is happening today, but to a wider range of equipment, much
for consumer use, a wider audience. There is also a growing popularity
of “rental” stores for television sets, washing machines, furniture,
and of course, rental yards are doing very well.

More and more smartphones are being leased. There is a trend GOING FORWARD that suggests leasing by the OEMs and carriers, without contractual commitments for data, as a mean to generate additional revenues from new devices that is otherwise lost when consumers own their devices outright. The feature functionality of the recent new devices suggests they have optimized regarding camera, radio, games and internet capability as noted that new cars much have these abilities as they are becoming more and more popular.

This is my opinion from the day-to-day readings of the business press and without attribution. I see a definite uptick in operating leasing as the need for the replenishment of equipment, machinery, vehicles, etc., continues, even if the need arising from growth is somewhat flat.

This rapid obsolescence of every two years also applies to commercial equipment, agriculture, software, and robots that are smarter, faster, and cost less than an employee. We may even see more manufacturing in the United States rather than overseas, again due to the rapid changes in software, hardware, and engineering. We went through this here, growing from Bridgeport mills to computerized milling stations, leading the world at one time.

So the concept that made leasing popular in the early 1960s, that started this trend, is coming back, perhaps bigger than ever.

The effective date for the new FASB rules in the United States is January 1, 2019. The rapid change in three to four years, by 2020, will be quite dramatic. The new rules will spur more operating leases.

Paul, my prediction gets down to the rapid obsolescence of what is being financed.  Remember, “It is not important who owns the equipment, but the use of the best equipment available.” Owning an asset will not be as important as it is today. Operating leases are the answer for businesses to acquire the best and fastest most efficient means to produce a profit.

  1. Lease Accounting

  2. The History of Leasing---abridged
    by Tom McCurnin and Christopher Menkin
    Part One - Introduction
    Part Two - Brokers Grow in Leasing
    Part Three - "Hits the Fan"
    Part Four - “Where Do We Go From Here?”





Lessor in True Lease Need Not File UCC-1
Financing Statement
By Tom McCurnin
Leasing News Legal Editor

Court Correctly Applies Law, But Why Risk Creating Issues?

GEO Finance v University Square, 2015 WL 1637310 (E. D. Mich. 2015).

True leases have many advantages, one being the fact that the lessor need not file a UCC-1 to perfect a security interest, because the law deems that the lessor already owns the equipment. This case involves a dispute between the purported buyer of the equipment (which had no knowledge of the lease interest) and the lessor, all of which could have been avoided had the lessor filed a UCC-1. The facts follow. 

GEO Finance’s predecessor leased geothermal water supply equipment to U Square’s predecessor for two industrial buildings in Detroit in a document entitled “Water Supply Agreement.” Notably, it was not titled “Lease”, but the supplier owned the equipment, was obligated to install it and maintain it, and the building owner had a “purchase option” for $300,000. The agreement was for 10 years. The supplier did not file a UCC-1. 

GEO Finance acquired the lease in 2010. Prior to acquiring the contract rights, the building owner sold the buildings and equipment to a third party, University Square. While University Square claimed lack of actual knowledge of the ownership of the equipment, it admittedly examined the books of the lessee prior to acquiring the property and was aware of the existence of the payments.

GEO sued University Square for conversion. Both sides moved for summary judgment. GEO claimed the supply agreement was a true lease, arguing the essential elements of a true lease. University Square argued that the equipment was a fixture and secured sale. 

The Court concluded the agreement was a lease because it involved payment for the temporary possession of the equipment and was not subject to termination. The term of the agreement was less than the useful life of the equipment, and the purchase option was not nominal. Finally, the property owner did not have any “equity” in the equipment. Therefore the Court concluded the agreement, however it was titled, was a lease. 

As a true lease, the court correctly concluded that the lessor is not required to file a UCC-1 Financing Statement, nor is a lessor required to make a fixture filing. Also, University Square reviewed financials of the property owner before it acquired the property and testified that it saw notes to documents which plainly stated that payments were being made to a “Geo-Thermal Lease.”

Therefore, the Court granted the summary judgment of the lessor for breach of contract, unjust enrichment and conversion. 

What are the take-aways here? 

• First, how a document is titled is largely irrelevant. Here the document was a water supply agreement, but interpreted as a lease. 

• Second, a lessor to a true lease is not required to file. Being a lease and not a secured transaction, neither a financing statement nor a fixture requirement was required. However, in any true lease, the lessor should file.  Perhaps if there was a UCC filing, the successor to the property owner would not have made the arguments and might have settled. In the old days, there was an argument that by filing, the lessor conceded the transaction is a loan, but this is no longer the case. The lessor should always file—there is simply no downside.

The bottom line to this case is that true leases may take a lot of forms, but whatever form the lease takes, the lessor should file a UCC statement as an abundance of caution. 

GEO_Finance_LLC_v_University_Square  (14 pages)

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Visit our web site at
Previous Tom McCurnin Articles:

Previous Tom McCurnin Articles:


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


Leasing Industry Help Wanted

Credit/Syndication Analyst

Position located in Denver, Colorado or Gig Harbor, Washington.

For the right candidate ability to work remote may be an option.

Commercial equipment leasing/finance experience preferred, but must have 2+ years commercial credit experience, strong knowledge of business and credit principles.

For more information, please click here
   A Funding Source for Small Business Since 1981

Senior Credit Analyst - Transportation

- Minimum 5 years of small ticket/high volume equipment finance underwriting experience preferred
- Relocation benefits available for the right candidate
- For a complete job description, please click here
Established in 1982, Pawnee Leasing Corporation located in Fort Collins, CO specializes in commercial equipment leasing and financing up to $150,000 to smaller, closely-held business enterprises. Pawnee Leasing is a U.S. subsidiary of Chesswood Group Limited, a publicly-held specialty financial services company based in Toronto, Canada (TSX:CHW).


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

Please see our Job Wanted section for possible new employees.




New Hires---Promotions in the Leasing Business
and Related Industries

Bobbi Brouillard was hired by Western Equipment Finance, Devils Lake, North Dakota, as vice president of Collections and Customer Service. "Her primary responsibilities include leading the development and implementation of processes, policies and procedures for collections, customer service and asset management." Previously, she was Customer Service Supervisor, Polar Communications (2005 – May, 2016); Personal Banker, Bremer Bank (January, 1995 – March, 2005); Education: Southwest Minnesota State University, Bachelor of Arts (BA), Political Science and Government (1992 – 1993). The University of North Dakota, Political Science and Government (1988 – 1992). Activities and Societies: Alpha Chi Omega

Jonathan Fales has rejoined The Alta Group, Glenbrook, Nevada, as Senior Management Director " focus on clients in our captive/vendor consulting practice as well as coordinating our international client relationships, especially in Asia Pacific and Latin America... He is also known for his knowledge of the China leasing market; in fact, Fales will speak at, and chair, the China Leasing Summit in Beijing June 14-17 for the ninth consecutive year."  He is based out of Kingsport, Tennessee. Previously, he was Vice President, Strategic Business, Key Equipment Finance (November 2013–May 2016); Senior Managing Director, The Alta Group (January 1999–October 2013); General Manager, Asia Pacific South, IBM Global Financing, Singapore (1996–1998);  IBM Global Financing, Stamford, Ct., Sales/Business Development Manager (2 years), European Remarking Manager, London (3 years), Remarketing Manager, Stamford (2 years) (1991-1998). He has many publications and has been Chairman and Keynote Speaker -- China Leasing Summit, Beijing, China (2008-2014); Presenter – Equipment Leasing & Finance Association Convention (2006; 2011-2012); Presenter – China Association of Enterprises with Foreign Investment Leasing Business Committee Convention (2008); Panelist – National Equipment Finance Association Funding Conference (2008); Presenter – Mold Makers Convention (2005). Organizations: Board Director, Committee Chair & Industry Future Council, Member, Equipment Leasing and Finance Association. Education: Vanderbilt University, Bachelor of Arts, Mathematics.

Ryan Flores was promoted to Vice President, Commercial Equipment Finance Officer, KeyBank, Greater Seattle Area. He joined the firm July, 2011, as Associate (Accelerated Career Track Program); promoted October, 2012, Assistant Vice President, Equipment Finance; promoted, August, 2013, Vice President, Equipment Finance. Prior, he was Marketing Agent & Sales, Morning Star Elevator (May 2010–March 2011); Sports Marketing and Promotions Intern, University of Colorado at Boulder (August 2009–March 2011); Lease Agent/Sales, American Campus Communities (July 2008–May 2009); Volunteer: Board of Directors, Washington DECA (September 2014). Serves as an elected Board of Directors member to represent the Washington Region in the following capacity: • Responsible for the health and well-being of the organization by carrying out the mission of the organization • Effectively understand the organization’s budget to enhance the experience for the region's students •Actively engage in fundraising for the organization. Organizations: Center for Advanced Manufacturing Puget Sound, Committee Member, Starting January, 2015. Additional Organizations: Sigma Phi Epsilon Fraternity. Honors & Awards: Million Dollar Club, Key Equipment Finance (February, 2014). • Exceeds Annual Production Goal • Exceeds Annual Profitability Goal. President's Circle, Key Equipment Finance (February, 2013). • Top 10% of Bank Channel Lease Managers in Profitability and Production during Fiscal Year 2013 • 249% to plan for Profitability • 131% to plan for Loan Production. Sales Achievement Award, Key Equipment Finance (February, 2013). Education: Louisiana State University, Master of Business Administration (M.B.A.), Business Administration and Management, General (2016 – 2018). Currently an MBA Candidate graduating in 2018. University of Colorado at Boulder - Leeds School of Business, Bachelors, Marketing and Finance (2007 – 2011). Deans Honorable Mention for Academic Achievement (2010) Activities and Societies: Sigma Phi Epsilon Fraternity, KEY Financial (KLIK) Career Development Program, Leeds New Student Mentor Program, DSP Mentorship Program Student Employment - CU Athletic Department. University of Virginia, Completion of Program, Semester at Sea Program (2010). International travel experience of 12 countries while studying with internationally acclaimed professors through the University of Virginia. Collaborated and won a grant with the University of Virginia and the Institute of Shipboard Education on generating a curriculum for high school’s student regarding the topic of sustainability.

Shannon Kelleher was promoted to Branch Manager, Mariner Finance, Philadelphia, Pennsylvania.  She joined the firm October, 2013 as Account Representative; promoted October, 2015, Assistant Manager.  Previously, she worked at Marlin Business Services, beginning February, 2011, Operations; promoted to Business Development Manager, July, 2012. Prior, she was CRS, AmeriFlex, Inc. (December 2009-August 2010).

Chris Krell was hired as Business Development, Lions and Associates,
Dallas/Fort Worth Area. He continues as Owner/Operator, C&J Party Rentals and Entertainment (October 2007-Present). Previously, he was New Business Development, Nationwide Recovery Systems (February 2007-March 2016); VP Sales, STA International (November 2014– April 2015); Director of Operations, Jumping J-Jays (2007–2009); Mortgage Banker, Millennium III (February 2005–August 2006); Loan Officer, Ameriquest Mortgage Portfolio Retention (July 2003–October 2005). Organizations: American Rental Association, Starting August, 2014. Little Elm Chamber of Commerce, Member, Starting January 2013. Education: San Francisco State University (2001–2003); Major was Geography with a minor in English. Activities and Societies: Men's Varsity Soccer. Cosumnes River College, Associate of Arts (AA), Geography (1990–1991). Studied general education with an emphasis in English and Geography. Played Varsity Soccer for 2 Seasons and was name Pepsi Scholar Athlete, Team MVP and Second Team Collegiate All America. Activities and Societies: Soccer. Encina High School, High School Diploma, General Studies, 12th (1983–1987). Activities and Societies: Soccer, Baseball, and having a good time!

Milissa Melle was promoted to Vice President, Sales Readiness and Demand Generation at Key Equipment Finance, Superior, Colorado.  She joined Key Government Finance, March 2000, as Credit Analyst, and rose to Government Credit Manager.  Previously, she was Office Manager, North Country Business Products (January, 1995 – February, 2000). Education: Regis University, BS, Accounting (2008 – 2009).

David Miles was promoted to AVP, Eastern Funding, LLC, Greater New York City Area.  He joined the firm May, 2009, as Credit Analyst; promoted January, 2012, Senior Credit Analyst; promoted October, 2012, Credit Team Leader. Prior, he was Credit Analyst Hitachi Capital America Corp. (2006 – 2009). Education: Morehouse College, BA, Business Administration (Management) (1998 – 2002). Activities and Societies: Track & Field, St. Luke's School (1991 – 1997).

Tom Murray was hired as Senior Vice President - Capital Markets, City National Bank - Capital Finance, Greater New York City area. Previously, he was Senior Vice President - National Sales Manager, Bridge Funding Group - Equipment Finance (January 2013– April 2016); Managing Director - Team Leader, Large Corporate and Capital Markets, TD Bank Equipment Finance (September 2010–December 2012); Managing Director, CIT Finance Investment Bank (September 2005–January 2009); Managing Director, GE Commercial Finance (1996–2005). Education: Pace University, Bachelor of Business Administration (BBA), Finance, General (1978–1981).



Stop Drinking the Kool-Aid,
Facebook Ads Don’t Work for Finance

FinTech #102 by Brittney Holcomb


Before any financial company decides where to spend its marketing dollars, it is imperative to really define the goals in terms of Branding or Lead Generation. That will determine what social ads may be beneficial.

One thing that studying different marketing channels has led me to believe is the misconception about social media advertising for lead generation, especially for B2B businesses.

An important factor to remember with social media is the audience that is active on those networks. If you were looking for a service pertaining to your finances, would you resort to Facebook for the answer? Most likely not. So why would you consider advertising in a space where your target audience isn’t spending their time?

Likes Do Not Equal Leads

We have over 200 clients within financial industry who have dabbled in the social ads realm resulting with no tangible results other than the fact that they can say they have 500 likes on Facebook…so what?

While consumers and business executives interact with financial companies on social media by liking, commenting, or following their posts, they are not necessarily interested in their ads. People don’t log on to social networks to search for products or services. They use social media to communicate with their friends and family.

Consumers and business executives are very hesitant to search for such a private matter like financial needs on social media. A sales cycle for a financial company is also much more complex than a ‘click and buy’ scenario like the majority of social ads offer.

If financial companies are looking to reach serious prospects for real time lead generation, they are better off utilizing a search engine pay-per-click (PPC) platform rather than social media ads. PPC advertising such as Google Adwords offers a much larger ROI for lead generation goals than running ads on any social network. 

What Social Ads Can Do For Your Business

Social Media Marketing really falls under brand marketing rather than lead generation. Through branding on social networks, businesses are able to utilize the channel for promoting new products and allowing consumers a place to leave comments and reviews about the services.

Consumers do use social networks to research local businesses quite frequently, which can benefit you if your past customers leave good reviews about their experience.

Think of social media marketing as the modern day PR campaign. Use the platforms to create a voice and presence for your business.

So what’s the bottom line here?

Should your financial business have social profiles? Yes.

Should you advertise on social media networks hoping for leads? No.

Regardless of your main marketing goal, you should always build profiles on social networks for a few reasons: 

1. To claim your company/brand name on that platform
2. To provide a channel for your clients to leave reviews about your services
3. For distributing your content marketing efforts to your audience.

However, when it comes to developing lead generation, social networks are not the answer. Spend your marketing dollars where you know your audience is spending their time when they are searching for services or products similar to yours. 


Brittney Holcomb is the Director of Paid Search at The Finance Marketing Group. She works exclusively with finance companies and banks to help better develop their business online through digital marketing strategies. Brittney has been trained by some of the top leaders in the industry giving her a vast knowledge she is able to pass along to her client base.


Previous Financial Technology Articles




Optimism Prevails at Most Federal Reserve Districts
Beige Book - June 1, 2016

"Banking and Finance

Overall loan demand was up moderately in all Districts that reported, with the exception of Dallas. Commercial and industrial loans were up in Philadelphia, St. Louis, and Kansas City. Contacts in the Atlanta District indicated that there was strong loan demand, except for the energy industry. In the Chicago District, business loan demand changed little from the previous report. Residential mortgage lending was up in the New York, Richmond, St. Louis, and San Francisco Districts. The Dallas District reported that overall lending was mixed, whereas the Philadelphia District reported that mortgages and home equity loans were down since the prior reporting period. Bankers in the Philadelphia, Cleveland, and Dallas Districts reported seeing increased activity in auto lending. The St. Louis and San Francisco Districts reported improved credit quality. Contacts in the New York and Cleveland Districts reported lower delinquency rates on the consumer side. Banking contacts from the Atlanta District indicated an optimistic outlook for the remainder of the "year."

Information received from the 12 Federal Reserve Districts mostly described modest economic growth since the last Beige Book report. Economic activity in April through mid-May increased at a moderate pace in the San Francisco District, while modest growth was reported by Philadelphia, Cleveland, Atlanta, Chicago, St. Louis, and Minneapolis. Chicago noted that the pace of growth slowed, as did Kansas City. Dallas reported that economic activity grew marginally, while New York characterized activity as generally flat since the last report. Several Districts noted that contacts had generally optimistic outlooks, with firms expecting growth either to continue at its current pace or to increase.


(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)



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

Net Income Declines 2 Percent to $39.1 Billion
At FDIC-Insured Institutions in First Quarter 2016

Community Bank Net Income Rises 7.4 Percent to $5.2 Billion

  • Net Operating Revenue of $173 Billion Is 2.7 Percent Higher Than a Year Ago 
  • Noncurrent Loans Post First Increase in Six Years Led By Energy Loans
  • 12-Month Growth Rate for Loan Balances is Highest Since Second Quarter 2008

"The banking industry continued to improve in the fourth quarter. … However, banks must remain vigilant as they manage interest-rate risk, credit risk, and evolving market conditions."
-- FDIC Chairman Martin J. Gruenberg

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $39.1 billion in the first quarter of 2016, down $765 million (1.9 percent) from a year earlier. The decline in earnings was mainly attributable to a $4.2 billion increase in provisions for loan losses set aside to recognize potential future loan losses and a $2.2 billion decline in noninterest income. The increase in loan-loss provisions is primarily attributable to rising levels of troubled loans to commercial and industrial borrowers, particularly in the energy sector. The decline in noninterest income reflects weakness in trading income at a few large banks, as well as lower income from asset servicing. Financial results for the first quarter of 2016 are included in the FDIC's latest Quarterly Banking Profile released today.

Of the 6,122 insured institutions reporting first quarter financial results, more than half (61.4 percent) reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the first quarter fell from 5.7 percent a year earlier to 5.0 percent, the lowest level since the first quarter of 1998.

"The mixed first quarter results reflect an evolving economic environment," Gruenberg said. "Revenue increased from a year earlier and loan balances expanded at the highest 12-month rate since 2008. However, a prolonged period of low interest rates has narrowed margins and caused some institutions to reach for yield. More recently, low energy prices have led to a sharp increase in noncurrent loans to oil and gas producers. We will continue to monitor closely the evolving environment in which the U.S. banking industry is operating. And we will remain vigilant in our supervisory activities."

Highlights from the First Quarter 2016 Quarterly Banking Profile

Community Bank Earnings Rise: The 5,664 insured institutions identified as community banks reported $5.2 billion in net income in the first quarter, an increase of 7.4 percent from the first quarter of 2015. Net operating revenue of $22.2 billion at community banks was $1.4 billion (6.9 percent) higher than a year earlier.

Net Operating Revenue of $173 Billion is 2.7 Percent Higher Than a Year Ago: Loan growth helped lift revenue at most banks, as net interest income rose $6.7 billion (6.4 percent) compared to the first quarter of 2015. Noninterest income was $2.2 billion (3.4 percent) lower, as trading income fell $1.9 billion (24.9 percent) and servicing declined by $736 million (46 percent).

Loan-Loss Provisions are 50 Percent Higher: Total provisions for loan and lease losses were $12.5 billion in the first quarter, up $4.2 billion (49.7 percent) from the first quarter of 2015. Slightly more than one-third of all banks – 35.6 percent – reported year-over-year increases in loan-loss provisions.

Noncurrent Loans Post First Increase in Six Years Led by Energy Loans: The amount of loans and leases that were noncurrent – 90 days or more past due or in nonaccrual status – rose $3.3 billion (2.4 percent) during the first three months of 2016. Noncurrent loans to commercial and industrial borrowers increased $9.3 billion (65.1 percent) during the quarter, primarily as a result of weakness in loans to the energy sector. Net charge-offs of loans to commercial and industrial borrowers were $1.1 billion (144.7 percent) higher than a year ago, as total net charge-offs of all loans were $1.1 billion (12.3 percent) higher than in the first quarter 2015.

12-Month Growth Rate for Loan Balances is Highest Since Second Quarter 2008: Total loan and lease balances increased $99.7 billion (1.1 percent) during the first quarter. For the 12 months ended March 31, loans and leases increased $577.1 billion (6.9 percent). This is the largest 12-month growth rate since mid-2007 to mid-2008. At community banks, loan balances rose 1.5 percent during the first quarter and increased 8.9 percent during the past 12 months.

"Problem List" Continues to Shrink: The number of banks on the FDIC's Problem List fell from 183 to 165 during the first quarter. This is the smallest number of problem banks in more than seven years and is down dramatically from the peak of 888 in the first quarter of 2011. Total assets of problem banks fell from $46.8 billion to $30.9 billion during the first quarter. One bank failed during the first quarter.

Deposit Insurance Fund (DIF) Rises $2.5 Billion to $75.1 Billion: The DIF increased from $72.6 billion at the end of 2015 to $75.1 billion at the end of the first quarter, largely driven by $2.3 billion in assessment income. The DIF reserve ratio rose from 1.11 percent to 1.13 percent during the quarter.

Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos)

Insured Institution Performance, First Quarter 2016
Community Bank Performance, First Quarter 2016
Deposit Insurance Fund Trends, First Quarter 2016
Chairman Gruenberg's Press Statement

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



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

Five Facts about the Small Business
Health Care Tax Credit

If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that:

  • offer coverage through the small business health options program, also known as the SHOP marketplace
  • have fewer than 25 full-time equivalent employees
  • pay an average wage of less than $50,000 a year
  • pay at least half of employee health insurance premiums

Here are five facts about this credit:

  • The maximum credit is 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers. 
  • To be eligible for the credit, you must pay premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program Marketplace, or qualify for an exception to this requirement.
  • The credit is available to eligible employers for two consecutive taxable years beginning in 2014 or later. You may be able to amend prior year tax returns to claim the credit for tax years 2010 through 2013 in addition to claiming this credit for those two consecutive years.
  • You can carry the credit back or forward to other tax years if you do not owe tax during the year.
  • You may get both a credit and a deduction for employee premium payments. Since the amount of your health insurance premium payments will be more than the total credit, if you are eligible, you can still claim a business expense deduction for the premiums in excess of the credit.    For more information, see the small business health care tax credit page on 

For information about insurance plans offered through the SHOP Marketplace, visit

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



Fernando's View
By Fernando F. Croce

A witty Jane Austen adaptation ("Love & Friendship") and a lush and sensual drama ("A Bigger Splash") make for a particularly savory double-bill in theaters, while new DVDs offer sardonic satire ("The Player"), an innovative film-essay ("A Married Woman"), and a splendid trio of road classics ("Wim Wenders: The Road Trilogy").

In Theaters:

Love & Friendship (Roadside Attractions): Writer-director Whit Stillman ("Metropolitan," "Damsels in Distress") has long displayed an affinity with Jane Austen's gentle yet sharp character studies, so it's no surprise to see him adapt the British author for the big screen in this warm and delectable comedy of manners. Based on Austen's novel "Lady Susan" and set in the late 18th-century, the story follows recently widowed Lady Susan Vernon (Kate Beckinsale), navigating high society with her daughter (Morfydd Clark) while seeking a new husband. Setting her sights on the prestigious if oblivious Reginald DeCourcy (Xavier Samuel), Lady Susan employs a series of devious tactics, leading to seduction as well as heartbreak. With a wondrously deft touch and a supporting cast that includes Chloë Sevigny and Stephen Fry, Stillman gives Austen the impeccable style she deserves.

A Bigger Splash (Fox Searchlight Pictures): Italian director Luca Guadagnino re-teams with his “I Am Love” star Tilda Swinton for this arresting and sensual drama-thriller. Swinton stars as Marianne, a famous rock star who seeks an escape from her hectic lifestyle by vacationing to a tiny Sicilian island with her boyfriend Paul (Matthias Schoenaerts). The peaceful interlude is soon interrupted, however, when they’re joined by Marianne’s old friend Harry (Ralph Fiennes), a former flame who arrives with his daughter Penelope (Dakota Johnson). What follows is a shifting set of personal intrigue and jealousy in which mood and ambiguity take over from conventional plot. Directed with virtuosic lushness and featuring superbly stylized performances by Swinton and Fiennes, Guadagnino’s sinuous film is a pleasure to behold.

Netflix Tip: One of the most adapted for the screen classic authors, Jane Austen has inspired a long line of enjoyable films. So get ready for "Love & Friendship" with some of the best earlier Austen screen versions, which include "Pride & Prejudice" (1940), "Sense and Sensibility" (1995), "Emma" (1996) and "Becoming Jane" (2007).


The Player (Criterion): One of the most acclaimed directors of the 1970s, Robert Altman was mostly stuck with obscure projects during the following decade until his great comeback with this delicious 1992 satire, which roasts the Hollywood system with venomous gusto. Tim Robbins shines as Griffin Mill, a slick studio producer whose routine of movie deals and parties is torn asunder by anonymous threats. Convinced that the culprit is a disgruntled screenwriter (Vincent D'Onofrio), Griffin ends up murdering him and begins a relationship with the dead man's girlfriend (Greta Scacchi). That's just the beginning of the intrigue, however, as a police investigation draws nearer by the moment. With playfully flashy camerawork, an insider's mordant wisdom and more celebrity cameos than can be counted, Altman serves up a masterful comedy-drama.

A Married Woman (Cohen Media Group): Since his game-changing 1960 debut with "Breathless," critic-turned-filmmaker Jean-Luc Godard has proceeded to revolutionize cinema with one experimental work after another. Among his early masterpieces is this 1964 drama, which zeroes in on the life of a young Parisian housewife as a jumping-off point for a dazzlingly innovative look at contemporary life. The plot itself boils down to Charlotte (Macha Méril) being torn between her husband Pierre (Philippe Leroy) and her lover Robert (Bernard Noël), but Godard's freewheeling camera uses this conventional triangle to riff on a wide variety of subjects, ranging from the expectations of middle-class marriage to fashion shows to the Frankfurt Auschwitz Trials. The result is a challenging but endlessly fascinating film in essay form. With subtitles.

Wim Wenders: The Road Trilogy (Criterion): Along with Werner Herzog and Rainer Werner Fassbinder, Wim Wenders was a cinematic pathfinder in the German New Wave of the 1970s. His recurring theme has always been the search for personal and national identity, and seldom did he express that better than in this splendid trio of road movies, finally available as a deluxe Criterion box-set. The earliest entry is "Alice in the Cities" (1974), a charming tale about a writer (Rüdiger Vogler) who travels through Germany in search of a little girl's grandmother. In "Wrong Move" (1975), the great writer Goethe is updated as a group of outsiders search for their roots. And things culminate in the wonderful "Kings of the Road" (1976), where a projectionist (Vogler) and a troubled psychologist (Hanns Zischler) become unlikely friends. With subtitles.


Labrador Retriever (Bonded Pair)
Seattle, Washington Adopt-a-Dog

Leroy and Lilly are a bonded pair that have spent their lives together and truly enjoy each other’s company. We would love to see them find their new forever home as a pair, as they play very well together, keeping themselves young at heart!

Watch Our Videos:

Leroy and Lilly playing -

Leroy is an 80lb, 8 year old Alaskan Malamute & Black Lab mix. Leroy is a handsome goofy boy with a huge personality. He has the sweetest smile and just loves to hang out with his people. He is great on a leash, loves being
brushed and has never marked in the house. He enjoys car rides and adventures.

Leroy is great with other dogs when properly introduced and loves being outside and going for walks.  Leroy’s greatest weaknesses are kitties and exploring so he will need a securely fenced yard and a home without cats. Leroy was raised in a home with small children, therefore, he quite enjoys the company of dog savvy children of any age.

Lilly is a 50 lb. Chocolate Lab Mix (perhaps with some Husky, Vizla, or
Weimaraner.)  She is also around 8 years young. She is a sweet and clever girl who is very well spoken. She rides like a dream in the car and enjoys long walks in the forest or on the beach. Lilly loves to chase tennis balls but is still working on the whole concept of fetch. She is also comfortable around dog savvy children. She enjoys the company of other dogs and is somewhat dominant but respectful of doggy body language. Lilly’s greatest weaknesses are kitties and exploring so she will need a securely fenced yard and a home without cats.

Both dogs still enjoy chasing other dogs (each other), a ball, and a Frisbee out in the yard. Both love to say hello to anyone they may meet while out strolling. Leroy and Lilly are both happy to chill out at home while you are at work. They are currently being fostered in Olympia, WA.

If you are interested in Leroy & Lilly, you may email Leah at or fill out an application here:

House trained • Spayed/Neutered • Current on vaccinations • Prefers a home without: Cats • Primary Color(s): Black • Secondary Color(s): Yellow, Tan, Blond or Fawn

Ferry Dog Mothers
Seattle, Washington

Adopt a Pet



Leasing/Finance Conferences --- 2016


September 16-17, 2016
2016 Eastern Regional Meeting
Cincinnati Airport Marriott
Hebron, KY
Conference Chair:
Rodny Blecha, Precision Leasing



Second Annual Conference
Announcing Our Second Annual 
October 4th - 6th, 2016
Red Rock Casino & Resort
Las Vegas, Nevada

Christopher "Kit" Menkin, Leasing News, will be speaking
at the  “Reporters Viewpoint” panel discussion to address the whole conference about the state of the leasing industry.

Kris Roglieri, Co-Founder of NACLB, says: "I think it would be wise for anybody to attend that provides capital to businesses or brokers capital to businesses. It does not matter what form of capital it is (leasing, working capital, factoring, etc.)...almost 90 percent of brokers and lenders are in the business financing space."

However, the primary benefit of the conference will be to provide enormous growth opportunities for both brokers and bankers to grow their loan portfolios and increase revenues and profits.

Now is your chance to get DEAL FLOW, QUALITY ISO’s and COMMERCIAL BROKERS
Go to our website for more information:

Q&A with Kris Roglieri Co-Founder of NACLB



October 5 – 7
Chicago Marriott Magnificent Mile
Chicago, Illinois




October 23 -25th
2016  55th Annual Conference
Palm Desert Springs
Palm Desert, California

Keynote speaker Joe Scarborough will provide timely analysis 
and insight into the upcoming presidential and congressional elections.


October 23 – 26
Las Vegas, Nevada
(75% of exhibit space/sponsorship booked)

October 24-26, 2016
100th Anniversary Annual Meeting
American Financial Services Association
The Breakers Palm Beach
Palm Beach, Florida

Join us for the latest on the political landscape, compliance and regulatory challenges, business trends, and enjoy plenty of networking opportunities.

Sessions will cover the overall industry challenges as well as operational issues relevant to specific market sectors. The final day of the meeting - called Spotlight Compliance - will shine light on the ever changing legal, regulatory and compliance realms that are so important in today's financial businesses.

 AFSA’s 350 members include consumer and commercial finance companies, vehicle finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry suppliers. The association was founded in 1916 as the American Association of Small Loan Brokers. The group formed to promote state laws that would make small loans more readily available to average Americans, who had few options at the time to receive small personal loans.


November 11-12, 2016
2016 Western Regional Meeting
Doubletree by Hilton Hotel Anaheim-Orange County
Orange, CA


News Briefs---

31 Highest Paid CEOs in Financial Services

Yellen: Rate hike probably appropriate in the coming months

AirAsia Gets $1 Billion Offer to Acquire Leasing Company

U.S. auto sales fall in May as growth slows

PayPal Isn’t a Bank, But It May Be
      the New Face of Banking

Financial tech firm Hudson River takes two floors at 4 WTC
  Pioneer in FinTech Industry

Rondout Savings Bank Broadens Technology Capabilities
    Through New Core Platform from CSI

Third-party sellers giving Amazon a huge boost
 2+ million merchants sell their goods under Amazon’s umbrella

Uber raises $3.5 billion from Saudi investment fund
  They Get Seat on the Board


Credit/Syndication Analyst

Position located in Denver, Colorado or Gig Harbor, Washington.

For the right candidate ability to work remote may be an option.

Commercial equipment leasing/finance experience preferred, but must have 2+ years commercial credit experience, strong knowledge of business and credit principles.

For more information, please click here
   A Funding Source for Small Business Since 1981





--You May Have Missed It

Rental agencies must abide by new law regarding recalled units


SparkPeople--Live Healthier and Longer

8 Things You Always Wanted to Know about Dieting
Common Diet Questions Answered


Baseball Poem

The Story Behind the Poem Casey at the Bat
By R. J. Brown

When George Hearst decided to run for senator from California in 1885 he realized the need of an influential organ, and bought the San Francisco Examiner to promote his political ambitions. When the campaign was over, he presented it to his son, William Randolph Hearst who had just graduated from Harvard College. While in college the younger Hearst had been editor of the Harvard Lampoon.

When he went to California to edit the Examiner he took along with him three members of the Lampoon staff; Eugene Lent, F. H. Briggs, and Ernest L. Thayer. Each had nicknames -- Thayer's was "Phin." He wrote a humorous column on a regular basis for the Examiner and signed his columns with his nickname.

In the spring of 1888, Thayer wrote Caseyand submitted it for publication. It appeared in the Examinerin the June 3, 1888 edition and was signed "Phin" as usual.

When Casey made its first appearance, nobody hailed it with shouts of joy or suspected that it would become immortal. A few weeks later, (exact date unknown) the New York Sun published the last 8 stanzas of the poem -- but signed its author as "Anon." Other than the Sun, it was just plain ignored by the public.

To become immortal, everyone (or thing) needs a press agent. Archibald Clavering Gunter, an author of novels, was "Casey's" press agent. Always on the look out for incidents to base some of his novels on, Gunter, living in New York, sought and actively read newspapers from around the country on a regular basis. When he read Casey for the first time, he clipped it out to save.

He wasn't sure just what he would do with it, but he clipped and saved it anyway.

Many weeks later, in August of 1888, Gunter read that both the New York and Chicago baseball clubs would be attending the performance of the comedian De Wolf Hopper at the Wallack Theater in New York. Upon reading the announcement, Gunter instantly knew what he wanted to do with the clipping of Casey he had saved.

Gunter approached Hopper, a good friend, and offered the poem for him to recite as he felt the baseball teams would enjoy a comic baseball recitation. Hopper agreed and recited it that night. The rest, as they say, is history. From that point forward in time, Casey become immortal -- while a good poem to begin with, it took a recital before a group of "famous" baseball players by a professional comedian to bring it to life.

After reviews for Hopper's performance were published, three people came forward to claim authorship and demanded Hopper pay a royalty to use "their" poem. None could prove authorship, so Hopper kept it in his repertory.

Four or five years later, Thayer, living in Worcester, Massachusetts at the time, attended a performance of Hopper in Worcester. After the show, Thayer sent a note backstage requesting to meet Hopper. Thayer gave him the rights to perform it without paying any royalties.

Newspaper collectors should check their issues of New York papers for August, 1888 (exact day unknown) for reviews of Mr. Hopper's performance of Casey

-- You may have an issue almost as important as the first printing of the poem in the June 3, 1888 San Francisco Examiner.


Casey at the Bat
By R. J. Brown
NCSA Member #3
The outlook wasn't brilliant for the Mudville nine that day:
The score stood four to two, with but one inning more to play,
And then when Cooney died at first, and Barrows did the same,
A pall-like silence fell upon the patrons of the game.

A straggling few got up to go in deep despair.
The rest cling to that hope which springs eternal in the human breast;
They thought, "If only Casey could but get a whack at that--
We'd put up even money now, with Casey at the bat."

But Flynn preceded Casey, as did also Jimmy Blake,
And the former was a hoodoo, while the latter was a cake;
So upon that stricken multitude grim melancholy sat,
For there seemed but little chance of Casey getting to the bat.

But Flynn let drive a single, to the wonderment of all,
And Blake, the much despised, tore the cover off the ball;
And when the dust had lifted, and men saw what had occurred,
There was Jimmy safe at second and Flynn - hugging third.

Then from five thousand throats and more there rose a lusty yell;
It rumbled through the valley, it rattled in the dell;
It pounded on the mountain and recoiled upon the flat,
For Casey, mighty Casey, was advancing to the bat.

There was ease in Casey's manner as he stepped into his place;
There was pride in Casey's bearing and a smile lit Casey's face.
And when, responding to the cheers, he lightly doffed his hat,
No stranger in the crowd could doubt 'twas Casey at the bat.

Ten thousand eyes were on him as he rubbed his hands with dirt;
Five thousand tongues applauded when he wiped them on his shirt;
Then while the writhing pitcher ground the ball into his hip,
Defiance flashed in Casey's eye, a sneer curled Casey's lip.

And now the leather-covered sphere came hurtling through the air,
And Casey stood a-watching it in haughty grandeur there.
Close by the sturdy batsman the ball unheeded sped--
"That ain't my style," said Casey. "Strike one!" the umpire said.

From the benches, black with people, there went up a muffled roar,
Like the beating of the storm-waves on a stern and distant shore;
"Kill him! Kill the umpire!" shouted some one in the stand;
And it's likely they'd had killed him had not Casey raised his hand.

With a smile of Christian charity great Casey's visage shone;
He stilled the rising tumult; he bade the game go on;
He signaled to the pitcher, and once more the dun sphere flew;
But Casey still ignored it, and the umpire said "Strike two!"

"Fraud!" cried the maddened thousands, and echo answered "Fraud!"
But one scornful look from Casey and the audience was awed.
They saw his face grow stern and cold, they saw his muscles strain,
And they knew that Casey wouldn't let that ball go by again.

The sneer has fled from Casey's lip, his teeth are clenched in hate;
He pounds with cruel violence his bat upon the plate.
And now the pitcher holds the ball, and now he lets it go,
And now the air is shattered by the force of Casey's blow.

Oh, somewhere in this favored land the sun is shining bright;
The band is playing somewhere, and somewhere hearts are light,
And somewhere men are laughing, and little children shout;
But there is no joy in Mudville-- great Casey has struck out.

— Ernest L. Thayer




Sports Briefs----

Why the Cavs will beat the Warriors in six games, plus more thoughts on the Finals

Andre Iguodala to guard LeBron James often during NBA Finals
  and Curry Takes Uber

NFL Scouting Director: Free agent Boldin 'old and can't run'

Jim Harbaugh calls out Nick Saban on Twitter

Donald Trump loses jobs to Mexico with PGA tourney move


California Nuts Briefs---

9 California Cities Among 10 Wealthiest In The USA

Hennessy Steps Down As Head Of Stanford University
   - Leaves Huge Silicon Valley Legacy

Snopes debunks (or verifies!) 14 S.F. Bay Area myths


“Gimme that Wine”

On Wine: How to start a wine cellar\\

What the Maker of Sutter Home Wines Is Trying to Do Next

Who Pays For Hello Vino's Free Wine App, And Why?

eBay Enters the Wine Business

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Leasing News Wine & Spirits Page


This Day in American History

        1692 - As the village of Salem was gripped by terror of witches, Massachusetts Bay Colony Governor Sir William Phips ordered a special court to expedite judgment of the more than 150 people accused of witchcraft. Unpopular resident Bridge Bishop, first accused in April and the first one jailed, was brought to trial on June 2. At her April examination, her accusers—teenaged girls---had collapsed in fits as she appeared but Bishop adamantly denied the charges. “I am not witch—I know not what a witch is.” She was convicted and hung June 10.
    1731 - Birthday of American's first First Lady: Martha Dandridge Custis Washington (d. 1802), Chestnut Grove, British Virginia. While some have stated this was a standard marriage of “convenience” in its day and age, the truth in the diaries and letters and devotion of both husband and wife supersedes the criticism as they tried to live a private life and maintain a family.
    1835 - P. T. Barnum and his circus began their first tour of the United States.
    1851 - America's first statewide statute prohibiting the sale of alcoholic beverages was enacted in the state of Maine. On the following Independence Day, the mayor of Bangor showed his support of the new law by smashing 10 kegs of confiscated booze.
    1852 - Publication of a manual of the corporation of the city of San Francisco containing a map of the city, the Declaration of Independence, the Constitution of the United States, the constitution of the state of California, the charters of the city, the revised ordinances still in force, and certain laws relating particularly to the city of San Francisco.
    1852 - 10,641 immigrants arrived by boat during the month of May.
    1854 - New light house on Bird Island, also known as Alcatraz, illuminated for the first time. It could be seen 12 miles at sea.  In 1775, Spanish explorer Juan Manuel de Ayala mapped and named rugged Alcatraz Island, christening it La Isla de los Alcatraces, or Island of the Pelicans, due to its large population of sea birds. Seventy-five years later, in 1850, President Millard Fillmore signed an order reserving the island for military use. During the 1850s, a fortress was constructed on Alcatraz and some 100 cannons were installed around the island to protect San Francisco Bay.
    1856 - Gov. Johnson ordered newly-appointed Maj. Gen. Sherman of the California Militia to call up its members because of the crisis in San Francisco.
    1863 - Harriet Tubman frees 750 slaves in raid. This former slave and abolitionist James Montgomery lead 300 African American troops of the Union's Second South Carolina Volunteers on a raid of plantations along the Combahee River. Backed by three gun boats, Tubman's forces set fire to the plantations and free 756 slaves. American history also shows her as the first woman to lead military troops into action.
    1865 – In an event that is generally regarded as marking the end of the Civil War, Confederate General Edmund Kirby Smith, commander of Confederate forces west of the Mississippi, signs the surrender terms offered by Union negotiators. With Smith’s surrender, the last Confederate army ceased to exist, bringing a formal end to the bloodiest four years in U.S. history. The American Civil War began on April 12, 1861, when Confederate shore batteries under General Pierre G.T. Beauregard opened fire on Union-held Fort Sumter in South Carolina’s Charleston Bay. During 34 hours, 50 Confederate guns and mortars launched more than 4,000 rounds at the poorly supplied fort, and, on April 13, U.S. Major Robert Anderson, commander of the Union garrison, surrendered. Two days later, U.S. President Abraham Lincoln issued a proclamation calling for 75,000 volunteer soldiers to help quell the Southern “insurrection.” Four long years later, the Confederacy was defeated at the total cost of 620,000 Union and Confederate dead.
    1883 - The first electric elevated railroad began, demonstrated at the Chicago Railway Exposition by the Electric Railway Company. The total track was 1,553 feet and not permitted to operate until June 9th and ceased operating on June 23, after logging 118.75 hours covering 1,588 trips, carrying 26,805 passengers, and running 446.24 miles. It was the first commercial elevated train to operate and was considered a success to build a line in Chicago.
    1886 - The first wedding of a president in the White House was Grover Cleveland's marriage to his ward, Frances Folsom, during his first administration. Cleveland was 49 and Ms. Folsom, 21.  Cleveland served as President from March 4, 1885 to March 4, 1898. With the thought he had a second term in the bag, he did not campaign much and lost. He won the next election and served as President again from March 4, 1893 to March 4, 1897.
    1889 - A great flood on the Potomac River in Washington D.C. took out a span of Long Bridge, and flooded streets near the river. The flood stage reached was not again equaled until 1936. 
    1891 - Charles Gardner Radbourn wins his 300th game beating the Beaneaters at South End Grounds in Boston, 10-8.  ‘Old Hoss,' who finished 484 of the 497 games he started, ended his 11-year career this season with 309 victories.
    1896 - In England, Guglielmo Marconi was awarded the first radio patent. He had succeeded the previous year in sending long wave radio signals over a distance of about two kilometers. And, in 1897, Marconi formed a wireless telegraphy company to develop its commercial applications. In 1901, Marconi succeeded in sending the letter "S" across the Atlantic from Cornwall, England to a receiving station in St. John's, Newfoundland.
    1904 - Johnny Weissmuller birthday. Peter John Weissmuller (d. 1984), actor and Olympic gold medal swimmer, was born at Windber, PA. Weissmuller won three gold medals at the 1924 Olympics and two more at the 1928 games. He set 24 world records and, in 1950, was voted the best swimmer of the first half of the 20th century. After retiring from amateur competition, he appeared as Tarzan in a dozen movies and as “Jungle Jim” in the movies and on television.
    1915 - At the Polo Grounds, Babe Ruth and the well-traveled Boston Red Sox beat the NY Yankees, 7-1. It is the last stop on a 29-day road trip for the Red Sox. Ruth allowed five hits and hit his second career HR. After his homer, Ruth received two intentional walks. He ends up kicking the bench and breaking his toe, sidelining him for two weeks.
    1917 - The temperature at Tribune, KS dipped to 30 degrees to establish a state record for the month of June.
    1921 - Trumpeter Ernie Royal (d. 1983) was born Los Angeles, CA.
    1925 - Native Americans were declared citizens of the United States with all rights. The statute declared “all non-citizen Indians born within the territorial limits of the United States be, and they are hereby declared to be, citizens of the United States.”
    1925 - 21-year-old Lou Gehrig started a game for the Yankees when regular first baseman Wally Pipp was beaned during batting practice (there were no batting helmets then) and complained of a headache - in fact, a concussion (in those days, not considered worrisome). Gehrig collected three hits in five at-bats, helping the Yankees to an 8-5 victory over the Washington Senators. Gehrig went on to play in a Major League record 2,130 consecutive games, a record since broken by Cal Ripken, Jr. with a streak of 2,632.  Pipp, a feared home run hitter who led the league twice, was traded to the Cincinnati Reds, after appearing with the Yanks in their first three World Series, finally winning in 1923.    
    1935 - Babe Ruth, one of the greatest players in the history of baseball, ends his Major League playing career after 22 seasons, 10 World Series and 714 home runs.  
    1938 - Gene Krupa records “Wire Brush Stomp,” (Brunswick 8166).
    1938 – Gene Michael was born in Kent, OH.  Michael, known as Stick in his playing days, is generally acknowledged as the architect as General Manager of the latest Yankees dynasty of the 1990-2000s.  He drafted Derek Jeter, Mariano Rivera and Jorge Posada, and fought to keep Jeter and Andy Pettitte when owner George Steinbrenner wanted to trade them; he traded for Paul O’Neill, Jack McDowell, John Wetteland and David Cone.  He also signed free agents Pettitte, Dave Winfield, and Wade Boggs.
    1941 - Rolling Stones' drummer Charlie Watts was born in London. Watts joined the Rolling Stones in January, 1963, about six months after the group was formed. He was working in an advertising agency at the time, but had earlier played with Alexis Korner's Blues Incorporated, as had other members of the Stones. Watts has been the backbone, along with guitarist Bill Wyman, of the Rolling Stones rhythm section throughout their 25 year career.
    1941 - William Guest (d. 2015) of Gladys Knight and the Pips was born in Atlanta. The group was part of the Motown empire in the 1960's, where they had a hit with “I Heard It Through the Grapevine” in ‘67. But the Pips' greatest popularity came in the ‘70s on the Buddah label, where their 1973 gold album “Imagination” yielded three gold singles. Among them was “Midnight Train to Georgia,” which hit number one on the Billboard Hot 100 chart.
    1941 – Exactly 16 years from the day he broke into the Yankees’ starting lineup, Lou Gehrig died of amyotrophic lateral sclerosis at the age of 37 in New York. From that time on, the illness has been known primarily as "Lou Gehrig's Disease."  At the time it was relatively unknown.   
    1942 – The US carriers from Pearl Harbor joined the fleet northeast of Midway. In total, the American force has approximately 250 planes, equal to the number in the approaching Japanese force.  Japanese Admiral Katuta’s light carrier force attacked Dutch Harbor in the Aleutians as a diversion. The Americans, aware of the Japanese plans for the invasion of Midway, do not react as predicted. They were aware of the Japanese plan for Midway and
took advantage of the information, although the Japanese had a superior
    1942 – The Red Sox’ Ted Williams, fresh off his .406 season last year, enlisted in the Marines as a naval aviator. Williams finished the season with his team, as did many other players who enlisted or awaited the draft, which moved slowly despite the early discouragements of the war. Other regulars of 1941 who enlisted include Johnny Berardino, Sam Chapman, Bob Feller, Joe Grace, Buddy Lewis, Pat Mullin, Johnny Rigney, Johnny Sturm and Cecil Travis.
    1944 - KOBASHIGAWA, YEIKI, Medal of Honor
Technical Sergeant Yeiki Kobashigawa distinguished himself by extraordinary heroism in action on 2 June 1944, in the vicinity of Lanuvio, Italy. During an attack, Technical Sergeant Kobashigawa’s platoon encountered strong enemy resistance from a series of machine guns providing supporting fire. Observing a machine gun nest 50 yards from his position, Technical Sergeant Kobashigawa crawled forward with one of his men, threw a grenade and then charged the enemy with his submachine gun while a fellow soldier provided covering fire. He killed one enemy soldier and captured two prisoners. Meanwhile, Technical Sergeant Kobashigawa and his comrade were fired upon by another machine gun 50 yards ahead. Directing a squad to advance to his first position, Technical Sergeant Kobashigawa again moved forward with a fellow soldier to subdue the second machine gun nest. After throwing grenades into the position, Technical Sergeant Kobashigawa provided close supporting fire while a fellow soldier charged, capturing four prisoners. On the alert for other machine gun nests, Technical Sergeant Kobashigawa discovered four more, and skillfully led a squad in neutralizing two of them. Technical Sergeant Kobashigawa’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1944 - KRAUS, RICHARD EDWARD, Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps Reserve. Born: 24 November 1925, Chicago, Ill. Accredited to: Minnesota. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving with the 8th Amphibious Tractor Battalion, Fleet Marine Force, in action against enemy Japanese forces on Peleliu, Palau Islands, on 5 October 1944. Unhesitatingly volunteering for the extremely hazardous mission of evacuating a wounded comrade from the front lines, Pfc. Kraus and 3 companions courageously made their way forward and successfully penetrated the lines for some distance before the enemy opened with an intense, devastating barrage of hand grenades which forced the stretcher party to take cover and subsequently abandon the mission. While returning to the rear, they observed 2 men approaching who appeared to be marines and immediately demanded the password. When, instead of answering, 1 of the 2 Japanese threw a hand grenade into the midst of the group, Pfc. Kraus heroically flung himself upon the grenade and, covering it with his body, absorbed the full impact of the explosion and was instantly killed. By his prompt action and great personal valor in the face of almost certain death, he saved the lives of his 3 companions, and his loyal spirit of self-sacrifice reflects the highest credit upon himself and the U.S. Naval Service. He gallantly gave his life for his comrades.
    1944 - NAKAMINE, SHINYEI, Medal of Honor
Private Shinyei Nakamine distinguished himself by extraordinary heroism in action on 2 June 1944, near La Torreto, Italy. During an attack, Private Nakamine’s platoon became pinned down by intense machine gun crossfire from a small knoll 200 yards to the front. On his own initiative, Private Nakamine crawled toward one of the hostile weapons. Reaching a point 25 yards from the enemy, he charged the machine gun nest, firing his submachine gun, and killed three enemy soldiers and captured two. Later that afternoon, Private Nakamine discovered an enemy soldier on the right flank of his platoon’s position. Crawling 25 yards from his position, Private Nakamine opened fire and killed the soldier. Then, seeing a machine gun nest to his front approximately 75 yards away, he returned to his platoon and led an automatic rifle team toward the enemy. Under covering fire from his team, Private Nakamine crawled to a point 25 yards from the nest and threw hand grenades at the enemy soldiers, wounding one and capturing four. Spotting another machine gun nest 100 yards to his right flank, he led the automatic rifle team toward the hostile position but was killed by a burst of machine gun fire. Private Nakamine’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army. 
    1944 - Birthday of composer and conductor Marvin Hamlisch (d. 2012), NYC.  Perhaps best known for his film scores “The Sting” (1923), “The Way We Were” (1972), and his best-known Broadway work includes “A Chorus Line” (1975), and “They’re Playing Our Song” (1977). He was accepted at Julliard at the age of 7 and got his start as a rehearsal pianist in “Funny Girl.”
    1945 - Top Hits
“Laura” - The Woody Herman Orchestra
“Dream” - The Pied Pipers
“Sentimental Journey” - The Les Brown Orchestra (vocal: Doris Day)
“At Mail Call Today” - Gene Autry
    1951 - CHARLTON, CORNELIUS H., Medal of Honor
Rank and organization: Sergeant, U.S. Army, Company C, 24th Infantry Regiment, 25th Infantry Division. Place and date: Near Chipo-ri, Korea, 2 June 1951. Entered service at: Bronx, N.Y. Born: 24 July 1929, East Gulf, W. Va. G.O. No.: 30, 19 March 1952. Citation: Sgt. Charlton, a member of Company C, distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action against the enemy. His platoon was attacking heavily defended hostile positions on commanding ground when the leader was wounded and evacuated. Sgt. Charlton assumed command, rallied the men, and spearheaded the assault against the hill. Personally eliminating 2 hostile positions and killing 6 of the enemy with his rifle fire and grenades, he continued up the slope until the unit suffered heavy casualties and became pinned down. Regrouping the men he led them forward only to be again hurled back by a shower of grenades. Despite a severe chest wound, Sgt. Charlton refused medical attention and led a third daring charge which carried to the crest of the ridge. Observing that the remaining emplacement which had retarded the advance was situated on the reverse slope, he charged it alone, was again hit by a grenade but raked the position with a devastating fire which eliminated it and routed the defenders. The wounds received during his daring exploits resulted in his death but his indomitable courage, superb leadership, and gallant self-sacrifice reflect the highest credit upon himself the infantry, and the military service. 
    1953 - Top Hits
“Song from Moulin Rouge” - The Percy Faith Orchestra
“I Believe” - Frankie Laine
“April in Portugal” - The Les Baxter Orchestra
“Take These Chains from My Heart” - Hank Williams
    1954 – Senator Joseph McCarthy charges that communists have infiltrated the Central Intelligence Agency (CIA) and the atomic weapons industry. Although McCarthy’s accusations created a momentary controversy, they were quickly dismissed as mere sensationalism from a man whose career was rapidly slipping away. Senator McCarthy first made a name for himself in 1950 when he charged but failed to prove that over 200 “known communists” were in the Department of State. During the next few years, he alleged that communists were in nearly every branch of the U.S. government. His reckless accusations helped to create what came to be known as the Red Scare, a time when Americans feared that communists were infiltrating all aspects of American government and life. Despite the fact that McCarthy never managed to unearth a single communist, or provide any proof to his assertions, his ability to whip up public hysteria and smear opponents as communist sympathizers made him front-page news for several years. Sensing that his base of power was eroding, in 1954, McCarthy embarked on a spectacularly unsuccessful effort to recapture public support by opening investigations into alleged communist infiltration of the U.S. Army. By early June 1954, the Army-McCarthy hearings had been going on for nearly a month. This was the first opportunity for the American public to get a firsthand view of McCarthy, as the hearings were televised. His bullying style and hysterical behavior quickly turned off the audience. In a desperate attempt to regain momentum, McCarthy charged that communists had also infiltrated the CIA and atomic weapons industry. No one took the charges seriously, and Secretary of State John Foster Dulles, his brother, CIA Director Allen Dulles, and President Eisenhower brusquely dismissed McCarthy’s accusations as reckless and without basis. Just a few weeks later, McCarthy was thoroughly disgraced when the lawyer for the U.S. Army, Joseph Welch, gave him a devastatingly effective tongue-lashing, which ended with Welch asking the senator whether he had any sense of “decency” at all. The Army-McCarthy hearings collapsed soon thereafter, and the U.S. Senate voted to censure McCarthy. He died, still holding office, in 1957, a broken man.
    1955 - Dana Carvey, comedian, actor (“Wayne's World,” “Saturday Night Live”), was born in Missoula, MT. He was one of my father's students as in his later years he taught comedy and writing at San Francisco State, and then at his workshop in San Rafael, California.
    1959 - The game between the Baltimore Orioles and the Chicago White Sox at Comiskey Park was delayed for nearly half an hour as swarms of gnats invaded the field. Bug spray and torches did not disperse the gnats, but a smoke bomb, set to be used as part of a post-game fireworks display, did. The Orioles won, 3-2.
    1961 - Top Hits
“Travelin' Man” - Ricky Nelson
“Daddy's Home” - Shep & The Limelites
“Running Scared” - Roy Orbison
“Hello Walls” - Faron Young
    1962 - Ray Charles' "I Can't Stop Loving You" hits #1
    1962 - Island Records, founded in Britain by Jamaican Chris Blackwell, released its first single, "Twist Baby" by Owen Gray. By the late '60s, Island was home to such British acts as Traffic, Jethro Tull, and Emerson, Lake and Palmer. In the following decade, reggae artists predominated, with Bob Marley and the Wailers, Toots and the Maytals and Burning Spear all recording for Island.    
    1964 - The original Broadway cast album of “Hello Dolly!” is certified gold
    1964 - The Rolling Stones play their first US gig at a high school in Lynn, MA; that same day, they make their American TV debut on WABC's “Les Crane Show” in New York.
    1967 - Race riots in Roxbury section of Boston.
    1967 - KFRC Fantasy Fair and Magic Mountain Music Festival at Mt. Tamalpais to benefit the Hunters Point Child Care Center. “Trans-Love Buslines” carries participants from the parking area to the festival. I was news editor and we promoted the event as this style of music was very popular. The station was the leader of the new S.F. sound.
    1967 - GRAHAM, JAMES A., Medal of Honor
Rank and organization: Captain, U.S. Marine Corps, Company F, 2d Battalion, 5th Marines, 1st Marine Division. Place and date: Republic of Vietnam, 2 June 1967. Entered service at: Prince Georges, Md. Born: 25 August 1940, Wilkinsburg, Allegheny County, Pa. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. During Operation Union 11, the 1st Battalion, 5th Marines, consisting of Companies A and D, with Capt. Graham's company attached launched an attack against an enemy occupied position with 2 companies assaulting and 1 in reserve. Company F, a leading company, was proceeding across a clear paddy area 1,000 meters wide, attacking toward the assigned objective, when it came under fire from mortars and small arms which immediately inflicted a large number of casualties. Hardest hit by the enemy fire was the 2d platoon of Company F, which was pinned down in the open paddy area by intense fire from 2 concealed machine guns. Forming an assault unit from members of his small company headquarters, Capt. Graham boldly led a fierce assault through the second platoon's position, forcing the enemy to abandon the first machine gun position, thereby relieving some of the pressure on his second platoon, and enabling evacuation of the wounded to a more secure area. Resolute to silence the second machine gun, which continued its devastating fire, Capt. Graham's small force stood steadfast in its hard won enclave. Subsequently, during the afternoon's fierce fighting, he suffered 2 minor wounds while personally accounting for an estimated 15 enemy killed. With the enemy position remaining invincible upon each attempt to withdraw to friendly lines, and although knowing that he had no chance of survival, he chose to remain with 1 man who could not be moved due to the seriousness of his wounds. The last radio transmission from Capt. Graham reported that he was being assaulted by a force of 25 enemy soldiers; he died while protecting himself and the wounded man he chose not to abandon. Capt. Graham's actions throughout the day were a series of heroic achievements. His outstanding courage, superb leadership and indomitable fighting spirit undoubtedly saved the second platoon from annihilation and reflected great credit upon himself, the Marine Corps, and the U.S. Naval Service. He gallantly gave his life for his country.
    1968 – “The Big Hurt,”  Hall of Famer Frank Thomas, was born in Columbus, GA.  One of the most fearsome and devastating hitters of his era, he is the only player in Major League history to have seven consecutive seasons (1991–1997) with a .300 batting average and at least 100 RBIs, 100 runs scored, 100 walks and 20 homers; over that period, he batted .330 and averaged 36 home runs and 118 RBI per year.
    1969 - LAPOINTE, JOSEPH G., JR., Medal of Honor
Rank and organization: Specialist Fourth Class, U.S. Army, 2d Squadron, 17th Cavalry, 101st Airborne Division . place and date: Quang Tin province, Republic of Vietnam, 2 June 1969. Entered service at: Cincinnati, Ohio. Born: 2 July 1948, Dayton, Ohio. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Sp4c. Lapointe, Headquarters and Headquarters Troop, 2d Squadron, distinguished himself while serving as a medical aid man during a combat helicopter assault mission. Sp4c. Lapointe's patrol was advancing from the landing zone through an adjoining valley when it suddenly encountered heavy automatic weapons fire from a large enemy force entrenched in well-fortified bunker positions. In the initial hail of fire, 2 soldiers in the formation vanguard were seriously wounded. Hearing a call for aid from 1 of the wounded, Sp4c. Lapointe ran forward through heavy fire to assist his fallen comrades. To reach the wounded men, he was forced to crawl directly in view of an enemy bunker. As members of his unit attempted to provide covering fire, he administered first aid to 1 man, shielding the other with his body. He was hit by a burst of fire from the bunker while attending the wounded soldier. In spite of his painful wounds, Sp4c. Lapointe continued his lifesaving duties until he was again wounded and knocked to the ground. Making strenuous efforts, he moved back again into a shielding position to continue administering first aid. An exploding enemy grenade mortally wounded all 3 men. Sp4c. Lapointe's courageous actions at the cost of his life were an inspiration to his comrades. His gallantry and selflessness are in the highest traditions of the military service and reflect great credit on him, his unit, and the U.S. Army.
    1969 - POXON, ROBERT LESLIE, Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Troop B, 1st Squadron, 9th Cavalry, 1st Cavalry Division. Place and date: Tay Ninh Province, Republic of Vietnam, 2 June 1969. Entered service at: Detroit, Mich. Born: 3 January 1947, Detroit, Mich. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. 1st Lt. Poxon, Armor, Troop B, distinguished himself while serving as a platoon leader on a reconnaissance mission. Landing by helicopter in an area suspected of being occupied by the enemy, the platoon came under intense fire from enemy soldiers in concealed positions and fortifications around the landing zone. A soldier fell, hit by the first burst of fire. 1st Lt. Poxon dashed to his aid, drawing the majority of the enemy fire as he crossed 20 meters of open ground. The fallen soldier was beyond help and 1st Lt. Poxon was seriously and painfully wounded. 1st Lt. Poxon, with indomitable courage, refused medical aid and evacuation and turned his attention to seizing the initiative from the enemy. With sure instinct he marked a central enemy bunker as the key to success. Quickly instructing his men to concentrate their fire on the bunker, and in spite of his wound, 1st Lt. Poxon crawled toward the bunker, readied a hand grenade and charged. He was hit again but continued his assault. After succeeding in silencing the enemy guns in the bunker he was struck once again by enemy fire and fell, mortally wounded. 1st Lt. Poxon's comrades followed their leader, pressed the attack and drove the enemy from their positions. 1st Lt. Poxon's gallantry, indomitable will, and courage are in keeping with the highest traditions of the military service and reflect great credit upon himself, his unit, and the U.S. Army.
    1969 – Top Hits
“Get Back” - The Beatles
“Love (Can Make You Happy)” - Mercy
“Oh Happy Day” - The Edwin Hawkins' Singers
“Singing My Song” - Tammy Wynette
    1972 - The ‘50s Doo-Wop group Dion and The Belmonts reunited for a show at Madison Square Garden in New York. The concert was captured on the LP “Reunion.”
    1973 - Paul McCartney and Wings have the #1 song on the chart with "My Love"...It's in the first of its three straight weeks at the top.
    1975 - No. 1 Billboard Pop Hit: "Thank God I'm a Country Boy," John Denver.
    1976 - Don Bolles (b. 1928), an award-winning investigative reporter for the Arizona Republic, was fatally injured when a bomb exploded in his car. He died several days later.  He had been probing connections between businessmen and organized crime in Phoenix. A national team of reporters from several newspapers helped to indict John Adamson, who was arrested with others, for the murder.  Bolles left behind a short note in his office typewriter explaining he would meet with an informant, then go to a luncheon meeting, and be back about 1:30 p.m. He was responsible for covering a routine hearing at the State Capitol. The source promised information on a land deal involving top state politicians and possibly the mob. A wait of several minutes in the lobby of the Hotel Clarendon was concluded with a call for Bolles to the front desk, where the conversation lasted no more than two minutes. Bolles then exited the hotel, his car in the adjacent parking lot just south of the hotel.  Bolles started the car, even moving a few feet, before a remote-controlled bomb, consisting of six sticks of dynamite taped to the underside of the car beneath the driver's seat, was detonated; the explosion shattered his lower body, opened the driver's door, and left him mortally wounded while half outside the vehicle. Both legs and one arm were amputated over a ten-day hospital stay but the eleventh day was the reporter's last. However, his last words after being found in the parking lot the day of the bombing were: "They finally got me. The Mafia. Emprise. Find John [Harvey Adamson]."  The exact motive for the crime remains a mystery, but many speculate Mafia responsibility, as a large concentration of Bolles' work involved organized crime, even going as far as to run a story naming over 200 known Mafia members operating in the state of Arizona.
    1977 - Top Hits
“Sir Duke” - Stevie Wonder
“I'm Your Boogie Man” - KC & The Sunshine Band
“Dreams” - Fleetwood Mac
“Luckenbach, Texas” (“Back to the Basics of Love”) - Waylon Jennings
    1977 – New Jersey allows casino gambling in Atlantic City.  In 1974, New Jersey voters voted against legalizing casino gambling statewide, but two years later approved a new referendum which legalized casinos, but restricted them to Atlantic City. Resorts Atlantic City was the first casino to open in 1978 after the legislature approved laws responding to the election after determining that the official monitors from the New Jersey Casino Control Commission were essential and New Jersey law stated that gambling establishments could not legally operate without state oversight.
    1978 - Bruce Springsteen's long awaited album, "Darkness On The Edge of Town" is released. Springsteen was prevented from recording for a year due to litigation involving his former manager. The album included the tracks "Badlands," "Prove It All Night" and the title track.
    1979 - Donna Summer's "Hot Stuff" hits #1
    1985 - Nancy Lopez wins the LPGA tournament$record
    1985 - Lightning struck a house, broke a bedroom window, and jumped to a metal frame bed. A man was killed but his wife was unharmed by the lightning
    1985 - Top Hits
“Everything She Wants” - Wham!
“Everybody Wants to Rule the World” - Tears for Fears
“Axel F” - Harold Faltermeyer
“Don't Call Him a Cowboy” - Conway Twitty
“Sick of Love” - Waylon Jennings
    1986 – Rod Carew announced his retirement from baseball.  Carew compiled a .328 career batting average over 19 major league seasons with the Minnesota Twins and California Angels   He was elected into the Baseball Hall of Fame in 1991.
    1987 - Thunderstorms spawned seven tornadoes in West Texas and six tornadoes in Illinois. Thunderstorms in Illinois produced wind gusts to 70 mph at McComb and Mattoon. Thunderstorms in southern Texas produced 5.5 inches of rain south of Seguin, and up to eight inches of rain in Washington County. 
    1988 - Severe thunderstorms in Texas and Oklahoma produced hail more than three inches in diameter near Stillwater, OK, and softball size hail in Jones County of north central Texas. Baseball size hail and 70 mph winds caused an estimated 100 million dollars damage around Abilene, TX.
    1988 - True story:  singer James Brown's wife Adrienne claims diplomatic immunity while fighting numerous traffic violations under the grounds that she's the wife of the Official Ambassador of Soul.
    1989 - Thunderstorms produced severe weather across much of the south central U.S. through most of the day and night. Thunderstorms spawned a dozen tornadoes, and there were 123 reports of large hail and damaging winds. Thunderstorm winds gusted to 78 mph at Russell, KS, and baseball size hail was reported at Denver, CO, Cuthbert, TX, and in Reeves County, TX. Afternoon thunderstorms in southern New England produced wind gusts to 120 mph at Fitchburg, MA, causing five million dollars damage.
    1990 - 66 tornadoes struck parts of the Midwest, the Ohio Valley, and the Great Lakes area with the majority of the tornadoes in the Ohio Valley. 7 of the tornadoes were rated F4 on the Fujita scale. Indiana was the hardest hit with 37 tornadoes and 8 deaths. This outbreak was the largest outbreak since the super outbreak of April 3-4, 1974.
    1992 - k.d. lang publicly declared her homosexuality in an interview with the Advocate, a US gay and lesbian publication. lang talked frankly about her lesbian lifestyle and her unrequited love for a married woman.
    1994 - Top Hits
“Swear” - All-4-One
“I'll Remember” (From “With Honors”) - Madonna
“The Sign” - Ace Of Base
“Return To Innocence” - Enigma
    1997 - Timothy McVeigh was found guilty of bombing the federal building in Oklahoma City two years ago.
    1999 - Top Hits
“Livin La Vida Loca” - Ricky Martin
“If You Had My Love” - Jennifer Lopez
“No Scrubs” - TLC
“Fortunate” - Maxwell
    2000 - With the Tigers visiting Wrigley Field for the first time since the 1945 World Series, Cub reliever Rick Aguilera pitches a perfect ninth inning for his 300th save to nail down a 2- 0 Chicago victory.
    2000 - For the first time a Major League Baseball team chooses to honor a hero from a different sport as the Montreal Expos will wear Maurice Richard's uniform number (9) on their jerseys to honor the late Montreal Canadians star.
    2010 - After 22 seasons of compiling can’t miss Hall of Fame statistics, Mariner outfielder Ken Griffey, Jr. unexpectedly issues a statement through the team announcing that he has decided to retire. The now 40-year old "Junior," once known as the Kid, leaves the game fifth on the All-time career home run list with 630 round-trippers.
    2010 – Armando Galarraga threw a one-hitter in a 3-0 win over Cleveland but in the eyes of most observers, he pitched a perfect game.  The only baserunner he gave up was with two outs in the 9th inning, when Jason Donald was called safe on an infield hit by umpire Jim Joyce; however, replays showed that the throw from 1B Miguel Cabrera to Galarraga covering beat Donald to the bag.  Joyce acknowledged after the game that he had made a mistake on the call.  Had he been successful in completing the perfect game, it would have been the third in the Majors in less than a month.  Ironically, Galarraga has not played in the Majors since 2012.



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