George Berenz, Former President of Tilden
Passed Away at 80-years-old

This news came from Dean Rubin, Senior Vice President of Ultimate Financing, a division of Navitas Credit Corporation.

As Dean explains, "He was a great mentor. I cut my teeth in the business after he hired me. I was a commercial banker on Long Island before I met him, and he showed me the third-party lending business. I would not be where I am today if he had not shown me the ropes. 

"George retired in 2000 and Don Blody and I ran Tilden until it was rolled up in 2001 into Colonial Pacific out of Oregon; both were GE Companies, and then relocated to Chicago."

Dean Rubin
drubin@navitascredit.com

Obituary (Tharp Funeral Home)

George Berenz, beloved husband and father, passed away February 5th, 2022, at the age of 80. He is survived by his wife of 56 years, Irene, his son Michael, extended family, and friends, and is now reunited with his brother Robert, and all those who preceded him.

George was born on October 3rd, 1941, to his father Michael “Mickey” Berenz, and mother Elsie in Bronx, NY. His brother Bob was like a second father to him, and best friend. The two worked on “hot rods” together and kept themselves mostly out of trouble, making classic cars a lifelong hobby.

The brothers also enjoyed hunting in upstate NY, and later Snowmobiling which turned into a whole-family hobby and led to George’s founding of a club which grew to 200 members that’s still active for 26 years.

George and Irene met at work and married in 1965. A traditional man of the house, he gave of himself to provide guidance, safety, wisdom and support for his wife and their son. His advice was frequently sought by his nieces and nephew as well, and everyone knew who to ask what is the right thing to do?

After decades working in finance, George led a company which was eventually bought by General Electric (GE) Capital, and he is still admired by those he worked with for the “deals” he made.

Retirement in 2006 drew him and his wife to the beauty of Forest, VA, with Michael nearby for all their technical support needs. In truth, we all wanted to live near enough to see each other often, and valued that more with each passing year.

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California (Finally) Approves Disclosure Regulations
 Ken Greene, Leasing News Legal Editor

Senate Bill 1235 was introduced by Senator Steve Glazer and signed into law in 2018 by then-Governor Jerry Brown. After four years, five rounds of comment solicitations and four sets of proposed or modified regulations, the regulations became final on June 9, 2022. The effective date is December 9, 2022.

Note that the primary “beneficiary” of this legislative gift is the funder, not the broker, as the funder is generally responsible for the content, and the broker’s responsibility merely to ensure that the disclosures are signed before the transaction is consummated.

Here is the link to the 48 pages of final regulations: https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/06/PRO-01-18-Commercial-Financing-Disclosure-Regulation-Final-Text.pdf

The approved regulations are not much different from the fourth round. Here are some of the important takeaways:

1. These rules apply to transactions in which the borrower’s business is principally directed or managed from California. CFR §954(a)
2. SB1235 defines “provider” more broadly than the definition of a broker under the California Financing Law (“CFL”). The new rules appear to apply to any non-bank lender or broker whether they are CFL licensees or not. I have yet to find precise authority on this subject, but I do not see anything in the law or regulations that suggest that the disclosure laws can only be enforced against licensed entities. Since bank subsidiaries are not required to be licensed, but are required to comply with the disclosure laws, my guess is that is equally applicable to other non-licensed lenders and brokers.
3. Banks and other federal or state-chartered depository institutions are exempt, but their subsidiaries and affiliates are not. Subs and affiliates must still comply with the disclosure laws.
4. The disclosures are only necessary for transactions equal to or less than $500,000. CFR §921.
5. True leases are exempt from the disclosure requirements. CFR §900(a)(1)(G)
6. Disclosures must be made “any time a specific commercial financing offer is quoted to a recipient,” either with the offer or separately, but absolutely before funding. CFR §900(a)(5)
7. The disclosures must be contained in a separate document but may be mailed or transmitted in a package that contains other documents. CFR §901(a)(6)
8. If disclosures are provided to a recipient electronically, the provider shall include a method for the recipient to submit an electronic signature and automatic date stamp and provide the recipient with the ability to receive a copy of the disclosure in a format that the recipient may keep. CFR §901(a)(11)
9. Financers must provide compliant disclosures to recipients whenever a financer provides the recipient with a specific commercial financing offer or whenever the terms of a consummated commercial financing contract are amended. CFR §952(a)(1).
10. Financers must provide compliant disclosures to a broker whenever a financer provides the broker with a specific commercial financing offer. CFR §952(a)(1).
11. Brokers must then transmit the disclosures to the prospective borrower. CFR §952(b)
12. Evidence of transmission must be maintained for at least four years. CFR §952(a)(2)
13. Financers must develop procedures to ensure that borrowers receive the disclosures (i.e., a provision in the broker agreement). CFR §952(a)(3)
14. Brokers are not responsible for the content of the disclosures. They do not have to review the disclosure statements for accuracy. CFR §952(f) Liability, if any, will generally rest upon the shoulders of the party actually providing the financing the transaction.
15. Funders may not consummate a transaction until the disclosures are signed and returned. CFR §920. SB1235 does not address what the responsibilities are for someone who buys the payment stream or is assigned the contract. If funding has already occurred, it is obviously too late for the buyer or assignee to provide pre-funding disclosures. The buyer/assignee may argue that it is a holder in due course as a defense to a claim of non-disclosure by the borrower or the DFPI, but due diligence on the part of the buyer/assignee would probably reveal that defect and potentially obviate the defense. It is difficult to predict the outcome of such a dispute, but it could very well open a can of worms down the road. So, buyers/assignees, my advice is to ensure that your sellers/assignors have complied with the disclosure laws as part of your due diligence before you acquire the deal.
16. General requirements as to form, format, fonts, etc. can be found in CFR §901. There are many, and they vary according to the type of financing.
17. Specifics for closed-end transactions are found in CFR §910.
18. Specifics for open-end credit plans are found in CFR §911.
19. Specifics for factoring are found in CFR §912 and §913
20. Specifics for sales-based financing are found in CFR §914.
21. Specifics for lease financing (excluding true leases) are found in CFR §915.
22. Specifics for general asset-based lending transactions are found in CFR §916.
23. APR’s may be calculated using either the United States Rule or the actuarial method as set forth in Appendix J, 12 CFR Part 1026 (both part of the Truth in Lending Act/Reg Z). CFR §940. The formulae are very complicated and the precise elements beyond the scope of this article. All non-avoidable expenses should be included in the APR, including interim rent and the like, but no avoidable expenses such as late charges or prepayment charges must be included.

Clearly this is a lot to digest. I highly recommend that anyone impacted by these new regulations contact an attorney familiar with these rules to ensure compliance. You have six months to do this, but this is a 48-page set of very complex regulations. It is not too soon to begin.

Ken Greene Leasing & Finance Observations
https://leasingnews.org/Pages/greene_observations.html

Ken Greene
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
Alternate: kengreenelaw@outlook.com

 

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 Computing Interest Rates Programs
For Use in New State Commercial Finance Laws

Source:
https://www.nav.com/business-loan-calculators/merchant-cash-advance-apr-calculator/

In the old days, late 1960’s and early 1970’s, companies would issue their buy rate for the term and amount for sales representatives’ calculations. They then add the factor to 1.00 and multiply it times the company buy rate. For instance, .0331 and the salesman wanted five points, multiply 1.05 times .0331 and it would be .034755. Then multiply this to the amount being financed to get the monthly payment.

Brokers were taught to tell prospects the rate in add on, not APR. Five year factor of .025 was 18% APR; 10% add on.  First and last would increase the interest rate, as well as a balloon or residual at the end.

Today, the most popular calculator software is TValue, available online or software for your computer of smartphone:
https://www.timevalue.com/tvalue-products

You can also purchase the calculator to put on your website by going to: https://www.timevalue.com/tcalc-financial-calculators

There are other financial portals and calculation tools:
Bankrate.com
Kiplinger.com
The Motley Fool

Merchant Cash Advance APR Calculator
Kabbage, OnDeck, plus Term Loan APR Calculator
(upper left on site below, plus add below site to your website)
https://www.nav.com/business-loan-calculators/merchant-cash-advance-apr-calculator/

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Help Wanted Ads

'Solidify Kentucky as the EV Battery Production
Capital of the United States"

 

The words come from Kentucky Governor Andy Beshear. The words come from the growth in the state as Trailer manufacturer Fruehauf North America has opened a $15 million, 290-job operation in Bowling Green, Kentucky, signifying the company’s return to production in the United States.

The new facility, announced in June 2021 and opened earlier this year, includes assembly of dry van trailers in Kentucky Transpark. Fruehauf closed its previous U.S. operations in 1997, exclusively manufacturing Fruehauf trailers in Mexico in the years since.

 So far, the company has filled 75 positions, with plans to add an additional 215 employees by the end of 2022.

Trailer manufacturer Fruehauf North America's $15 million operation will assemble dry van trailers in Bowling Green, Kentucky.

Eugenio Clariond, Chairman of Fruehauf North America, declared, “On target with our short-term goal to become a top-5 player in the region, this facility adds 5,000 units of capacity for a total of 13,000 units for Fruehauf North America.

 “We will continue investing and developing our brand in the region and are delighted to have partnered with the Bowling Green community for this endeavor.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in May 2021 preliminarily approved an incentive agreement with Fruehauf under the Kentucky Business Investment program. The performance-based agreement can provide tax incentives based on the company’s investment and annual job-creation and wage targets.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Fruehauf can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

Fruehauf has manufactured transportation products since it was established in Detroit, Michigan, in 1890. The company’s founder, August Fruehauf, was inducted into the Automotive Hall of Fame in 2017 as the inventor of the semi-trailer. In addition to semi-trailers, the company produces dollies, platforms, container chassis, tanks and hoppers.

More than 525 automotive-related facilities operate in Kentucky, including four original equipment manufacturers.

In September, Kentucky Gov. Andy Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April, the governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. The governor says these announcements “solidify Kentucky as the EV battery production capital of the United States.”

Source: HDTtruckinginfo.com

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Top Ten Leasing News Read by Readers
June 6 - June 10

(1) MY TERRIBLE, HORRIBLE, NO GOOD, VERY BAD MONTH
By Ken Greene, Leasing News Legal Editor
https://leasingnews.org/archives/Jun2022/06_10.htm#my

(2) The Top Five Leasing/Finance Funder Websites
In North America
https://leasingnews.org/archives/Jun2022/06_06.htm#websites

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Jun2022/06_10.htm#hires

(4) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Jun2022/06_08.htm#hires

(5) Spending Time with Children...
Placard
https://leasingnews.org/archives/Jun2022/06_08.htm#spending

(6) Biden Lifts Solar Tariffs
Boon to Finance and Leasing Commercial Installations
https://leasingnews.org/archives/Jun2022/06_08.htm#tafiffs

(7) 10 commonly leased vehicles
that can be sold for a profit
https://www.mlive.com/news/2022/05/10-commonly-leased-vehicles-that-can-be-sold-for-a-profit.html

(8) Leases Return to Pre-Pandemic Levels but at
Post-Pandemic Prices – New LeaseQuery Report
https://www.valdostadailytimes.com/news/business/leases-return-to-pre-pandemic-levels-but-at-post-pandemic-prices-new-leasequery-report/article_6a044eef-a0b1-5963-a45e-92855ea34ae3.html

(9) Walmart Kicks Fulfillment into High Gear
  with Next-Generation Centers
By Brian Straight, Modern Shipper
https://leasingnews.org/archives/Jun2022/06_06.htm#walmart

(10) Mortgage rates move higher ahead of
Federal Reserve meeting
https://www.washingtonpost.com/business/2022/06/10/mortgage-rates-move-higher-ahead-federal-reserve-meeting/

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Northteq Provides Automated Fraud Solution
for the Equipment Finance Industry with Ekata

MINNEAPOLIS) – Northteq, Inc., Salesforce-based has developed an automated fraud mitigation solution for equipment finance lenders utilizing Ekata's industry leading technology. The solution was first implemented to enhance Northteq’s lease/loan origination system (LOS) for ENGS Commercial Finance Company.

Kristian Dolan, CLFP, Chief Executive Officer of Northteq, explained, “Through our relationship with Ekata, we were able to develop a solution for our shared customer and provide the equipment finance market with an automated fraud mitigation solution that supports one of today’s biggest needs: digital transaction security.

“Our unique solution offers actionable insight into credit risk, empowering lenders to make faster, more informed decisions while delivering a frictionless, positive experience for their customers.”

ENGS Commercial Finance Company has been utilizing Northteq’s Salesforce based LOS solution for several years. Northteq’s comprehensive origination solution was designed to easily integrate with the Ekata enhancement along with 25+ additional fintech developed solutions.

Franklin D. Swann Jr., Senior VP Information Systems at ENGS Commercial Finance Company, said, “The integration of Ekata into our credit adjudication transaction process has multifaceted benefits for ENGS by delivering automation and fraud mitigation.  Our open and flexible Salesforce platform in conjunction with our strong partnership with Northteq allowed us to bring this to market quickly and efficiently.”

Ekata’s proprietary technology helps protect lenders from fraudulent activities by identifying red flags early in the underwriting process. Every online transaction is automated through multiple gateways prior to approval, providing lenders with an improved way to spot potential fraud indicators and eliminate fraudulent transactions from their workflows, while also helping validate credit decisioning models.

With more than 150 lending clients, Northteq focuses on providing the equipment finance industry with end-to-end automated FinTech solutions. As a Salesforce Cloud Alliance and AppExchange partner, Northteq offers a fully automated Salesforce lease/loan origination system, vendor and customer portals, and turn-key Salesforce lending apps. For more information on our products, visit northteq.com.

About Northteq
Northteq, Inc. is a Minneapolis, Minnesota based technology company specializing in FinTech integration micro services to provide custom technology solutions for loan origination businesses. Northteq has turn-key Salesforce.com apps for many partners, including TimeValue, Middesk, Ocrolus, Plaid, Notarize, D&B, LexisNexis, and many more. For more information, visit www.northteq.com. 

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

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

IRS Increases Mileage Rate
for Remainder of 2022

 

WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes.

For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year. The new rate for deductible medical or moving expenses (available for active-duty members of the military) will be 22 cents for the remainder of 2022, up 4 cents from the rate effective at the start of 2022. These new rates become effective July 1, 2022. The IRS provided legal guidance on the new rates in Announcement 2022-13, issued today.

In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2022. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. For travel from Jan. 1 through June 30, 2022, taxpayers should use the rates set forth in Notice 2022-03.

IRS Commissioner Chuck Rettig, explained, “The IRS is adjusting the standard mileage rates to better reflect the recent increase in fuel prices. We are aware a number of unusual factors have come into play involving fuel costs, and we are taking this special step to help taxpayers, businesses and others who use this rate.”

While fuel costs are a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs.

The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

The 14 cents per mile rate for charitable organizations remains unchanged as it is set by statute.

Midyear increases in the optional mileage rates are rare, the last time the IRS made such an increase was in 2011.

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

Shih Tszu (long Coat)
Tonkay Bay, Minnesota 5532

Maud

13 Years
Female
12 pounds
Adoption Fee: $214.55

Fence Required: No
Housetrained: Yes
Exercise Needs: Low
Grooming Needs: High
Shedding Amount: None
Owner Experience Needed: Species
Reaction to New People: Cautious

"Hi, I'm Maud!  I was found walking in circles on the street in Emporia, KS and some nice people took me in. They took me to the vet, and then sent me to Minnesota to NorthStar Shih Tzu Rescue.  so I can see a specialist about my eyes. I had to have all but 2 teeth pulled so I am feeling much better now. I will see the specialist soon and find out about my vision. I am house trained, and I am very vocal when I need to go outside.  I also let my family know when I can't find them :)"

“My adoption fee, including MN state taxes, is $214.55. I'm available to adopt within a 50-mile radius of the Twin Cities of Minneapolis/Saint Paul.

“If you'd like to meet me, please attend NorthStar's Nice To Meet Tzu adoption events, held the second Sunday of each month from 12-2pm at the Edina Chuck & Don's (I'm sorry, I'm not available for private meet and greets, please check the Events calendar the day before to see if I'm attending.)

More about Maud
Good with Dogs, Good with Older/Considerate Kids Only, Good with Adults, Somewhat vocal, Hypoallergenic, Does not require a yard, Leash trained, Needs special care, Timid, Eager To Please, Intelligent, Even-tempered, Gentle
Special Needs: Vision & some hearing loss

NorthStar Shih Tzu Rescue
Mail to:
Tonka Bay, MN 55331
northstarshihtzurescue@gmail.com
https://www.facebook.com/NorthStarShihTzuRescue

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Harmony N. Oswald, Esq. Added San Jose, CA
Attorneys Who Specialize in
Banking, Finance, and Leasing

Harmony N. Oswald, Esq.
CA Finance Enforcement Litigator
Oswald Law Firm
117 Bernal Road, Suite 70-179
San Jose, CA 95119
Phone: 408-825-4LAW
Fax: 877-757-4671
Email: hno@oswaldfirm.com

Full List:
https://leasingnews.org/Classified/Attorney/Attorney.htm

News Briefs---

Senators strike bipartisan gun deal,
    heralding potential breakthrough
https://www.washingtonpost.com/politics/2022/06/12/senate-gun-deal-framework/

New Data Shows Newspaper Revenues
Down Sharply
https://thehill.com/news/state-watch/3517259-new-data-shows-newspaper-revenues-down-sharply/

Russian-owned successor of McDonald's
    opens in Moscow
https://www.pressdemocrat.com/article/business/russian-owned-successor-of-mcdonalds-opens-in-moscow/

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[headlines]
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Sports Briefs---

$4.75M: Charl Schwartzel wins richest golf event
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Here’s why Deshaun Watson and the Browns
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49ers’ projected 53-man roster: Minicamp
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A’s Howard Terminal development needs independent financial
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Possible WNBA Bay Area expansion comes
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Broncos' sale agreement reinforces that NFL's still
has important diversity steps ahead | Opinion
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California Nuts Briefs---

New PG&E wildfire prevention program in
    Napa County could trigger sudden power cuts
https://www.northbaybusinessjournal.com/article/industrynews/new-pge-wildfire-prevention-program-in-napa-could-trigger-sudden-power-cut/

His art is tragically beautiful. But he can’t get
out of homelessness
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Halibut fishing is ‘incredible’
in San Francisco Bay right now
https://www.sfchronicle.com/climate/article/Halibut-fishing-is-incredible-in-San-17232949.php

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"Gimme that wine"

Why Napa, Sonoma wineries are hiring top chefs
      — and why so many became available
https://www.northbaybusinessjournal.com/article/industrynews/why-napa-sonoma-wineries-are-hiring-top-chefs-and-why-so-many-became-ava/

Sonoma County winemakers create
new label to help Ukraine
https://www.pressdemocrat.com/article/lifestyle/liquid-aid-for-ukraine/

Napa County crop value jumps 60% in 2021,
driven by wine grape rebound from wildfires
https://www.farmprogress.com/grapes/arizona-adds-another-viticulture-areaAirbnb introduces new ‘Vineyard’ category

Arizona adds another viticulture area
https://www.farmprogress.com/grapes/arizona-adds-another-viticulture-area

It’s Rosé Season, but Drink These 12 Bottles Year-Round
By Eric Asimov
https://www.nytimes.com/2022/06/10/dining/drinks/rose-wine-review.html

“Gimme that Wine”
http://www.youtube.com/watch?v=EJnQoi8DSE8

Free Wine App
https://www.nataliemaclean.com/mobileapp/

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

This Day in History

      1740 – Georgia provincial governor James Oglethorpe begins an unsuccessful attempt to take Spanish Florida during the Siege of St. Augustine. Oglethorpe raised a mixed force of British regulars (the 42nd Regiment of Foot), colonial militia from the Province of Georgia and the Carolinas, and Native American Creek and Chickasaw, or Uchees. Oglethorpe deployed his batteries on the island of Santa Anastasia while a British naval squadron blockaded the port.
    1774 – Rhode Island became the first colony to prohibit importation of slaves. The Rhode Island General Assembly in Newport, passed this legislation: “No Negro or mulatto shall be brought in to this colony, and in case any slave shall be brought in, he or she shall be, and are hereby, rendered immediately free, so far as respects personal freedom, and the enjoyment of private property, in the same manner as the native Indians.”
    1777 – Marquis de Lafayette landed in the United States to assist the colonies in their war against England.
    1789 - General George Washington was served a new dessert by Mrs. Alexander Hamilton: ice cream.
    1798 - The Mission San Luis Rey de Francia was founded at what is now Oceanside, California, the northernmost city of San Diego County.  It is the largest of the 21 California missions. It was abandoned in 1846. Restoration began in 1892. 
http://www.sanluisrey.org
    1786 - Birthday of Winfield Scott (d. 1866) at Petersburg, VA.  US Army general, negotiator of peace treaties with Indians and twice nominated for president (1848 and 1852). Leader of brilliant military campaign in Mexico in 1847.
http://www.civilwarhome.com/scottbio.htm
http://www.npg.si.edu/exh/brady/gallery/77gal.html
http://www.ngeorgia.com/other/scottinmexico.html
http://home.att.net/~Rebmus/SCOTTSTACTICS.htm
    1805 - Scouting ahead of the Lewis & Clark Expedition, Capt. Meriwether Lewis and four companions sight the Great Falls of the Missouri River.
    1868 - African-American Oscar J. Dunn was elected Lieutenant Governor of Louisiana. He ran away from slavery, finally bought his freedom, and began his education prior to his freedom. State Senator in 1868, Lt. Governor from 1868 to 1870.  Reputed to be firm, courageous and incorruptible, died suddenly in November, 1871. Ironically, his death brought the first African American to serve as governor of a state: P.B.S. Pinchbeck. He had been elected president pro tempore of the Louisiana senate in 1871, and promoted to lieutenant governor upon the death of Oscar J. Dunn. Pinchback was educated in Cincinnati, was a captain in the army. When Governor Warmoth was impeached in December 1872, he became governor for a few days. 
http://www.sec.state.la.us/45.htm 
    1875 - Birthday of Mariam Amanda Wallace "Ma" Ferguson (d. 1961), Bell County, TX.  Two-time Governor of Texas. In November, 1924, she and Nellie Ross of Wyoming were elected the nation's first female governors. Her husband had been impeached, convicted and removed from the Governor’s office to which he had been elected in 1916. She ran to clear the family name under the motto "two Governors for the price of one." She said, up front, that she would be just a stand-in for her husband, but when elected, she did a lot of things her way. Although “Ma” Ferguson did fulfill a campaign promise to secure an antimask law against the Ku Klux Klan, the courts overturned it. State expenditures were slightly increased, despite a campaign pledge to cut the budget by $15 million. The focal point of discontent centered upon irregularities both in the granting of pardons and paroles and in the letting of road contracts by the state highway department. Ma Ferguson pardoned an average of 100 convicts a month, and she and "Pa" were accused by critics of accepting bribes of land and cash payments. Critics also charged that the Ferguson-appointed state highway commission granted road contracts to Ferguson friends and political supporters in return for lucrative kickbacks. She won re-election and then retired from politics until she was 65 years, ran for governor in 1940, but did not win. 
http://www.tsl.state.tx.us/governors/personality/mferguson-p01.html 
http://www.reaganadv.com/ma/biography.html
    1893 – Grover Cleveland noticed a rough spot in his mouth and, on July 1, secretly underwent successful surgery to remove a large, cancerous portion of his jaw; the operation was not revealed to the public until 1917, nine years after the president's death.
    1889 - Forest fires in northern Wisconsin and northeast Minnesota were in the process of destroying millions of dollars of board feet of timber.
    1903 – Birthday of “The Galloping Ghost,” Red Grange, born Harold Edward Grange (d. 1991) in Forksville, PA.  He played halfback at the University of Illinois and professionally for the Chicago Bears.  His signing with the Bears helped legitimize the fledgling National Football League and he was a charter member of both the College Football Hall of Fame and the Pro Football Hall of Fame.  In 2008, he was named the best college football player of all time by ESPN.  Chicago sportswriter Warren Brown nicknamed Grange "The Galloping Ghost" after his stunning performance against Michigan on October 18, 1924 against Michigan in the grand opening game of the new Memorial Stadium, built as a memorial to University of Illinois students and alumni who had served in World War I.  Michigan was going for the national championship and entered as favorites.  Grange returned the opening kickoff for a 95-yard touchdown and scored three more touchdowns on runs of 67, 56, and 44 yards in the first 12 minutes–the last three in less than seven minutes.  On his next carry, he ran 56 yards for yet another touchdown. Before the game was over, Grange ran back another kickoff for yet another touchdown. He scored six touchdowns in all. Illinois won the game by a lopsided score of 39-14.  In the decade of The Roaring Twenties that saw the likes of Babe Ruth and Charles Lindbergh, the introduction of television and talking pictures, none were greater than The Ghost.
    1905 - Trumpet player Doc Cheatham (d. 1997) birthday, Nashville, TN.
http://www.riverwalk.org/profiles/cheatham.htm
    1905 – Christy Mathewson of the New York Giants pitched his second career no-hitter, beating the Chicago Cubs and Mordecai “Three-Finger “ Brown, 1-0.  Mathewson and Brown matched no-hitters for eight innings. The Giants got two hits in the 9th for the win, and a pair of errors committed by Bill Dahlen at shortstop prevented Mathewson from hurling a perfect game.
    1907 - The temperature at Tamarack, California dipped to 2 degrees above zero, the lowest reading of record in June for the U.S.  After 42 inches of snow fell between the 10th and the 13th, the snow depth on this date was 130 inches.
    1913 – Ralph Edwards (d. 2005) was born in Merino, CO.  Radio and TV host and producer, best known for his radio-TV game shows, “Truth or Consequences” (1940-78) and “This is Your Life” (1948-60). 
    1921 - Christy Mathewson reached his 300th career victory as the Giants beat the Cubs, 3-2.  During his 17-year major league career, Mathewson compiled a 373-188 record.
    1921 - "The Sultan of Swat," Babe Ruth, clobbered a 460 foot home run into the center field bleachers at New York City’s Polo Grounds. It was the longest homer Ruth hit in his career and the first to reach those deep seats at the Polo Grounds.  It was Ruth’s 21st homer of the season and he pitched five innings to get the win over the Tigers, 13-6, that included a strikeout of Ty Cobb.
    1927 - Aviation hero Charles Lindbergh was honored with a ticker-tape parade in New York City. He was the most popular man of his era, considered a presidential candidate, but the kidnapping of his son changed his life. While the man who asked for ransom was caught, it is believed by many that it was Lindbergh's own sister who killed the infant as she suffered from mental illness and had harmed the baby earlier.   
    1929 – Coast Guard Radio Technician A. G. Descoteaux became the first person to broadcast from an aircraft. In a Loening amphibian, he reported the takeoff of a French aircraft on a trans-Atlantic flight at Old Orchard Beach, Maine. The account was relayed by ground equipment to an extensive national hookup and was received by U.S. and foreign listeners.
    1933 - In an effort to get the economy going again, the Federal Savings and Loan Association was authorized with the passage of the Home Owners Loan Act. The purpose of the legislation was to provide a convenient place for investment and to lend money on first mortgages. The first association was the First Federal Savings and Loan Association of Miami, Florida, which was charted on August 8, 1933.
    1935 - In a 15 round match, Jim Braddock defeated Max Baer at New York’s  Madison Square Garden to win the Heavyweight Championship of the World as the 10-to-1 underdog in one of the most stunning upsets in boxing history.
    1937 - Joe DiMaggio hits 3 consecutive HRs against St Louis Browns
    1939 - Victor Records artist Lionel Hampton and his band recorded "Memories of You." He had played the song with the Benny Goodman Quartet at Carnegie Hall in 1937.
    1940 – R & B singer Bobby Freeman (d. 2017) was born in San Francisco. He is best known for "Do You Wanna Dance," which became a number five hit for him in 1958. The song was later covered by the Beach Boys - in 1965 - and the Ramones - in 1978.
    1940 – President Franklin Roosevelt signs a new $1,300,000,000 Navy bill providing for much extra construction. Meanwhile, in response to Churchill’s pleas in his telegrams to President Roosevelt, surplus stocks of artillery weapons and rifles have been assembled from US government stores. The first shipment left the USA on the SS Eastern Prince for the voyage to Britain. The US Neutrality Laws had been subverted by first “selling” the arms to a steel company and then reselling them to the British government.
    1942 - The Office of War Information was created. 
http://memory.loc.gov/ammem/today/jun13.html
    1944 – Only one week after the Normandy invasion, the first German V-1 buzz bomb, also called the doodlebug (Fieseler Fi-103), was fired at London. The first guided missile to be used in force, the V-1 was powered by a pulse-jet engine and resembled a small aircraft. Only one of the four missiles London saw that day caused any casualties, but a steady stream of V-1s causing severe damage and casualties fell on London in coming months. At times, nearly 100 bombs fell each day. Many German buzz bombs never reached their targets because of primitive guidance systems or because they were destroyed in flight by anti-aircraft fire or intercepting Allied fighters.
    1944 - Marvin Camras, who was a student at the Armour Institute of Technology, Chicago, Il, patented a wire recorder for sound recordings. He had actually invented it in the 1930's, and it was used experimentally in 1939 and 1940, with several models in use by the US Navy in 1941. When I first went to work for KFRC Radio in 1963, we were using wire to record interviews, including telephone interviews (several times a week I would interview Governor “Pat” Brown, who was a longtime fan of the radio station when he was San Francisco district attorney).
    1948 - Top Hits
“Nature Boy” - Nat King Cole
“Toolie Oolie Doolie” - The Andrews Sisters
“Baby Face” - The Art Mooney Orchestra
“Texarkana Baby” - Eddy Arnold
    1948 - With the crowd of 49,641 singing 'Auld Lang Syne' to the Babe, the Yankees celebrate the silver anniversary of Yankee Stadium by holding 'Babe Ruth Day.’  With members of the 1923 team (the first team to play in the Stadium) looking on, the dying superstar's uniform number 3 is retired and sent to Cooperstown. The emotional ceremony at Yankee Stadium came two months before the baseball legend died.
http://imagecache6.allposters.com/LRG/9/902/7VDX000Z.jpg
(Poster available here $13.98---http://www.allposters.com/-sp/Babe-Bows-Out-Posters_i798306_.htm?aid=914057&LinkTypeID=2&PosterTypeID=1&DestType=7)   
    1953 - Birthday of comedian, actor Tim Allen, Denver, Colorado.
”Home Improvement,” “Galaxy Quest,” “Last Man Standing.”
    1956 - Top Hits
“The Wayward Wind” - Gogi Grant
“I'm in Love Again” - Fats Domino
“I Want You, I Need You, I Love You” - Elvis Presley
“Crazy Arms” - Ray Price
    1957 -  Red Sox outfielder Ted Williams becomes the first American Leaguer to have two three-homer games in one season. The 'Splendid Splinter' drives in five runs, helping Boston to defeat the Indians, 9-3.
    1959 - US Army Private Elvis Presley receives a 15-day furlough and uses it to travel to Paris, ostensibly to meet film sexpot Brigitte Bardot. While there, he and his entourage take up a suite at the Prince De Galles Hotel, on the Champs Elysees, and visit the Moulin Rouge and the Lido club, home of the famous dancers, the Bluebell Girls. Elvis and company take some of the girls back to the hotel tonight, a practice they would continue throughout his leave.
    1963 - President John F. Kennedy and other leaders condemned the assassination by a sniper of civil rights leader Medgar Evers in the back outside of his home in Jackson, Mississippi on June 12. The crime sparked numerous demonstrations this day as an outrage of the killing. The reaction to this killing spurred the Civil Rights Act of 1964. Ten years after Medgar Evers's death, the national office of the NAACP reported that Mississippi had 145 black elected officials and that blacks were enrolled in each of the state's public and private institutions of higher learning.  In 1970, according to statistics compiled by the Department of Health, Education, and Welfare, more than one-fourth or 26.4 percent of black pupils in Mississippi public schools attended integrated schools with at least a 50 percent white enrollment. When Medgar died in 1963, only 28,000 blacks were registered voters. By 1971, there were 250,000 and by 1982 over 500,000.
http://www.olemiss.edu/depts/english/ms-writers/dir/evers_medgar/
http://www.cr.nps.gov/nr/travel/civilrights/mainmap1.htm
    1964 - Top Hits
“Chapel of Love” - The Dixie Cups
“A World Without Love” - Peter & Gordon
“Love Me with All Your Heart” - The Ray Charles Singers
“Together Again” - Buck Owens
    1964 - The Rolling Stones' first major US television appearance is made on ABC's “Hollywood Palace,” a variety show with rotating host spots. This week's host, Dean Martin, who has made no secret of his dislike for rock in general and the British Invasion in particular, mocks the Stones at every turn for their long hair and seeming delinquency.  After acrobat Larry Griswold performs several death-defying trampoline stunts, Martin claims, "That's the father of the Rolling Stones. He's been trying to kill himself ever since."
    1966 - The US Supreme Court rendered a 5—4 decision in the case of Miranda v Arizona, holding that the Fifth Amendment of the Constitution “required warnings before valid statements could be taken by police.” The decision has been described as “providing basic legal protections to persons who might otherwise not be aware of their rights.” Ernesto Miranda, the 23-year-old whose name became nationally known, was retried after the Miranda Decision, convicted and sent back to prison. Miranda was stabbed to death in a card game dispute at Phoenix, AZ, in 1976. A suspect in the killing was released by police after he had been read his “Miranda rights.” Police procedures now routinely require the reading of a prisoner's constitutional rights (‘Miranda”) before questioning.
    1967 - President Lyndon Baines Johnson appointed Thurgood Marshall of Maryland to the Supreme Court, making him the first African-American appointed to this position.
    1968 - KEDENBURG, JOHN J., Medal of Honor 
Rank and organization: Specialist Fifth Class, U.S. Army, 5th Special Forces Group (Airborne), 1st Special Forces. place and date: Republic of Vietnam, 13 June 1968. Entered service at: Brooklyn, N.Y. Born: 31 July 1946, Brooklyn, N.Y. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Sp5c. Kedenburg, U.S. Army, Command and Control Detachment North, Forward Operating Base 2, 5th Special Forces Group (Airborne), distinguished himself while serving as advisor to a long-range reconnaissance team of South Vietnamese irregular troops. The team’s mission was to conduct counter-guerrilla operations deep within enemy-held territory. prior to reaching the day’s objective, the team was attacked and encircled by a battalion-size North Vietnamese Army force. Sp5c. Kedenburg assumed immediate command of the team which succeeded, after a fierce fight, in breaking out of the encirclement. As the team moved through thick jungle to a position from which it could be extracted by helicopter, Sp5c. Kedenburg conducted a gallant rear guard fight against the pursuing enemy and called for tactical air support and rescue helicopters. His withering fire against the enemy permitted the team to reach a preselected landing zone with the loss of only 1 man, who was unaccounted for. Once in the landing zone, Sp5c. Kedenburg deployed the team into a perimeter defense against the numerically superior enemy force. When tactical air support arrived, he skillfully directed air strikes against the enemy, suppressing their fire so that helicopters could hover over the area and drop slings to be used in the extraction of the team. After half of the team was extracted by helicopter, Sp5c. Kedenburg and the remaining 3 members of the team harnessed themselves to the sling on a second hovering helicopter. Just as the helicopter was to lift them out of the area, the South Vietnamese team member who had been unaccounted for after the initial encounter with the enemy appeared in the landing zone. Sp5c. Kedenburg unhesitatingly gave up his place in the sling to the man and directed the helicopter pilot to leave the area. He then continued to engage the enemy who were swarming into the landing zone, killing 6 enemy soldiers before he was overpowered. Sp5c. Kedenburg’s inspiring leadership, consummate courage and willing self-sacrifice permitted his small team to inflict heavy casualties on the enemy and escape almost certain annihilation. His actions reflect great credit upon himself and the U.S. Army.
    1969 - An unusual late season snowfall covered parts of South Dakota, Wyoming, Montana, and Nebraska. 10 inches of snow fell at Deerfield, South Dakota and 5 inches was measured at Great Falls, Montana.
    1970 - The Beatles' "The Long and Winding Road" hits #1
    1970 - The Beatles' LP “Let It Be” hits #1
    1971 - The New York Times began publishing the Pentagon Papers, a secret study of America’s involvement in Vietnam.  Officially titled “United States – Vietnam Relations, 1945–1967: A Study Prepared by the Department of Defense,” is a US Department of Defense history of US political-military involvement in Vietnam from 1945 to 1967. The papers were discovered and released by Daniel Ellsberg.  A 1996 article in The Times said that the “…Pentagon Papers had demonstrated, among other things, that the Johnson Administration systematically lied, not only to the public but also to Congress." More specifically, the papers revealed that the U.S. had secretly enlarged the scale of the Vietnam War with the bombings of nearby Cambodia and Laos, coastal raids on North Vietnam, and Marine Corps attacks, none of which were reported in the mainstream media.  For his disclosure of the Pentagon Papers, Ellsberg was initially charged with conspiracy, espionage, and theft of government property, but the charges were later dropped after prosecutors investigating the Watergate Scandal soon discovered that the staff members in the Nixon White House had ordered the so-called White House Plumbers to engage in unlawful efforts to discredit Ellsberg.
    1972 - Top Hits
“The Candy Man” - Sammy Davis, Jr.
“Song Sung Blue” - Neil Diamond
“Nice to Be with You” - Gallery
“The Happiest Girl in the Whole U.S.A.” - Donna Fargo
    1973 - The LA Dodgers infield of 1B Steve Garvey, 2B Davey Lopes, SS Bill Russell and 3B Ron Cey played together for the first time in a 16-3 loss to the Philadelphia Phillies at Veterans Stadium. The infield quartet holds the Major League record for longevity by playing 8 1/2 years together.
    1976 - Don Bolles, investigative reporter for the Arizona Republic, died as a result of injuries received when a bomb exploded in his automobile, June 2, 1976, while he was engaged in journalist investigation of an alleged Mafia story. Bolles was awarded posthumously the University of Arizona’s John Peter Zenger Award, December 9, 1976.
    1980 - Top Hits
“Funkytown” - Lipps, Inc.
“Coming Up” - Paul McCartney & Wings
“Biggest Part of Me” - Ambrosia
“My Heart” - Ronnie Milsap
    1984 - Severe thunderstorms produced large amounts of hail in the Denver, Colorado metro area. Hailstones as large as 4 inches in diameter fell. Homes and other buildings sustained around 200 million dollars in damage. Thousands of cars were battered with total damage to vehicles estimated at 150 million dollars. In some areas, golf ball size hail fell continuously for 30 to 40 minutes. 20 people were injured by the giant hailstones. Torrential rains as much as 4.75 inches in Lakewood clogged drains and caused widespread damage from flooding.
    1988 - Top Hits
“One More Try” - George Michael
“Together Forever” - Rick Astley
“Everything Your Heart Desires” - Daryl Hall John Oates
“I Told You So” - Randy Travis
    1988 - Afternoon thunderstorms produced severe weather in the Southern and Central Plains Region. Forrest, NM was deluged with 5.5 inches of rain in ninety minutes. Temperatures soared into the 90s across much of the eastern half of the nation, including New England. Northern Illinois reported a record twenty straight days of dry weather.
    1989 - Thunderstorms produced severe weather from the Southern Plains Region to the Carolinas during the day and night, and continued to drench parts of Texas and Oklahoma with heavy rain. Oklahoma City reported 13.41 inches of rain for the first thirteen days of the month, and Fort Worth, TX reported 29.56 inches for the year, a total more than 13 inches above normal. Severe drought continued to rage across South Texas.
    1990 - Top Hits
“Please Hammer Don’t Hurt ‘Em” - M.C. Hammer
“I Do Not Want What I Haven’t Got” - Sinead O’Connor
“I’m Breathless” - Donna
“Pretty Woman” - Soundtrack
    1994 - At the age of 34, Cub second baseman Ryne Sandberg suddenly retires, walking away from $16 million (due to personal problems, he said.) While he had been a notoriously slow starter throughout his entire career, his 1994 start was disastrous. Later, he admitted that he had been distracted at the time while going through a messy divorce. He came back for the 1996 and 1997 seasons, retiring permanently at the age of 37 with a career batting average of .285, and a record 277 home runs as a second baseman; this record was surpassed in 2004 by Jeff Kent. Sandberg was elected to Baseball’s Hall of Fame in 2005 and was manager of the Philadelphia Phillies, the team that traded him to the Cubs, 2013-2015.
http://www.thebaseballpage.com/past/pp/sandbergryne/ 
http://www.geocities.com/Colosseum/Arena/6113/
    2000 - Top Hits
“The Marshall Mathers” - Eminem
“The History Of Rock” - Kid Rock
“Oops!...I Did It Again” - Britney Spears
“Mad Season” - matchbox twenty
    2003 - On his fourth attempt, Roger Clemens becomes the 21st pitcher and the first since 1990 to record 300 career wins as the 40-year-old righty goes 6 2/3 innings in the Yankees' 5-2 inter-league victory over the Cardinals. In the second inning when Edgar Renteria swings through full-count fastball, the 'Rocket' also joins Nolan Ryan (5,714) and Steve Carlton (4,136) as just the third hurler to record 4000 career strikeouts.  Clemens finished his career with a 354-184 record, a 3.12 ERA and 4,672 strikeouts, records clouded by persistent allegations of PED use that have kept him out of the Baseball Hall of Fame.
    2004 - Top Hits
“Confessions” - Usher
“Under My Skin” - Avril Lavigne
“Here For The Party” - Gretchen Wilson
“Musicology” - Prince
    2005 - Pop superstar Michael Jackson is found not guilty on all counts of his child molestation trial in Santa Maria, Calif. Jackson, 46, had been charged with molesting a 13-year-old cancer survivor in 2003, serving him wine and conspiring to hold the boy and his family hostage at his Neverland estate in order to get them to rebut a television documentary.
    2005 - “The Closer” premiered on TV.   This original cable (“TNT”) series features Kyra Sedgwick as Deputy Police Chief Brenda Leigh Johnson, a former Atlanta detective brought to Los Angeles to head a special LAPD homicide unit.  The premiere telecast set a record for an ad-supported cable original series, and Sedgwick won a Golden Globe for her performance for several years. The series ran on TNT from June 13, 2005 to August 13, 2012. Following the finale, “The Closer's” spin-off “Major Crimes” premiered.
http://en.wikipedia.org/wiki/The_Closer
    2006 - The first wireless bullpen communication system in baseball history is used at Wrigley Field when a cell phone, which was sent to the Hall of Fame, is used for the first time in Major League history to call the bullpen. From the dugout, Cubs pitching coach Larry Rothschild calls the bullpen during the third inning to start warming up reliever Angel Guzman.
    2011 - Stevie Wonder was inducted into the Hall of Fame at New York's Apollo Theater, the same venue where he began his professional career as a 12-year-old in 1962.
    2012 - The Beach Boys' first album of all-new material since 1992, "That's Why God Made the Radio," raced up the Billboard 200 chart to number 3. Their span of Billboard Top Ten LPs stretched to 49 years and one week since they first graced the chart with "Surfin' U.S.A." the week of June 15, 1963.
    2012 - Matt Cain tosses the fifth no-hitter and second perfect game of the season when he retires 27 consecutive batters in the Giants' 10-0 rout of the Astros at AT&T Park. The San Francisco right-hander, with the help of two great defensive plays from outfielders Melky Cabrera and Gregor Blanco, becomes the first pitcher in the 129-year history of the franchise and the 22nd in Major League history to pitch a perfect game.
    2014 – A water-embedded rock layer was found deep inside the earth, a layer that stores three times the water found in all the earth’s oceans.  This suggests that oceans developed from the seepage of this water rather than from striking comets.

NBA Champions:
    1989 - Detroit Pistons
    1997 - Chicago Bulls