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Operations Manager for growing equipment leasing/broker services co. in Costa Mesa, CA to oversee syndication, docs, & credit functions. Prior leasing experience pref. Salary with benefits. Send resume to:

Tuesday, June 20, 2006

Congratulations. Hurricanes!!! Stanley Cup Winners!


Correction: Steve Dinkelaker
    Classified Ads---Sales Manager
        Cartoon—How CA Wine is Made
            Position Open: OneWorld
                Classified Ads---Help Wanted
Why I Became a CLP
  Greg Rieke-"Small Ticket Lessor"
Top Stories--June 12--June 16
    Alexa Ranks Media Web Sites
        Leasing Assoc. Meetings Open: All
Clune--Since 1957
    Oracle pays $130M dump RE lease
        Bob Fisher: “Wholesale Financing”
Ward/Evans Join Main Street
    Terry M. Keating Joins Hovde
        News Briefs---
You May have Missed---
    Sports Brief---
        "Gimme that Wine"
Calendar Events
    Today's Top Event in History
        This Day in American History
Baseball Poem-Donald Hall
    SuDoku Puzzle

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


Correction: Steve Dinkelaker

In the article, White Paper on Equipment Leasing Insurance, we apologize for misspelling the president of American Lease Insurance name; twice.

Steve Dinkelaker, President
American Lease Insurance
888-521-6568 x 245

It also should be noted that Mr. James C. Donnelly, Jr., is an attorney and partner in Mirick,O'Connel Law Firm:

The article itself was found on the American Lease Insurance web site in the follow-up to a press release about American Lease Insurance and International Decision Systems. We were not aware Mr. Donnelly, Jr., was an attorney, as it was not noted. We also again apologize for the misspelling of Steve Dinkelaker's name.

Let me take the opportunity to print a paragraph from Mr. Dinkelaker's

and Mr. Donnelly, Jr's., article, plus add some other comments that lessors should be discussing as soon as possible with your legal counsel (plus brokers and discounters should also be aware as they may be next in these class action suits):

“Lease insurance programs can be effectively structured to achieve all of the appropriate goals without undue risk by taking protective measures that mainly consist of adhering to professional standards. Safe and effective lease insurance programs demand the following elements: (1) a professionally designed program that provides the appropriate insurance protection using the appropriate forms; (2) a well drafted lease insurance clause that carefully and clearly spells out the lessee's obligations with appropriate disclosures to protect the interests of the lessor; (3) administrative support and services that include tracking lessees' compliance, procuring the required coverage, billing, accounting, and mailing; and (4) an overall structure that avoids the risks of Class Action lawsuits.”

White Paper, June 12, 2006 (from their web site)

Other items to discuss :

Transfer of lease issues regarding “title,” as many states may treat the “discount” as a “sales” and impose sales tax (it is happening in California, such as with Pacifica Capital and Bette Kerhoulas.)

Late Charges:

Many states are now treating lessees as “consumers” and the fee for late charges may come under that statute, plus changes in commercial statutes. Barry Dubin of White, Cooper, and White years ago told us to put in a “bookkeeping dollar” fee, include other information on collection to justify what we were charging in California. It was also helpful on $125 dollar lease payments where $12.50 doesn't cover the administrative time, bookkeeping records, plus the extra effort in getting the lessee to pay the late charge. (In California, the courts don't allow you to sue or include your late charges in money owed---that's my personal experience, and many business owners know that, too, even in small claims court, as they have tried to collect late charges from their own customers.)

Personal Property Tax :

If you are using your “factor or percentage from the county bill, or including a “fee,” meaning what you are sending the client is different than what the county is charging you as owner of the “equipment,” you better spell out the reasons why in your contract or an accompanying document your lessee signs that acknowledges your “tax administrative fee.” Remember if you are using a service or software in billing, it is very easy for any legal authorities to obtain the information from your service, or even from your own accounting records. Randy Brook of the FTC can personally find his way around in the Lease Plus program, he told me as one of the reasons he wanted to see the IFC Credit Corporation accounting of NorVergence leases.

UCC fees :

You better justify the costs in your contract or in documentation your client signs, if you are charging more than your out of pocket costs.

Documentation fees :

Many states, including California, now charge sales/use tax on all items included in the original transaction, unless you make the charge a separate item, on a separate bill, and then it is not subject ( in most states) to this tax. You may also want to consider spelling out what the document fees are for, which is now more common in the real estate and mortgage industry to once what was known as “garbage fees.” And if your salesman gets a split in commission for obtain a higher documentation fee, you better talk this over with your legal counsel.

So-called “Hell and High water clauses.”

Is your 2-A clause correct and up-to-date, and in what state?

Evergreen clauses : More states are making it illegal to continue the lease without notifying the lessee in advance. Don't tell me you are not doing this, as Leasing News has complaints from lessees that the practice is still prevalent, especially in California.

And last, but not least , are you licensed in the state where the lessee is headquartered, and perhaps where the equipment is located

(personal property tax and sales tax make you the owner in the state where the equipment is located.)?

To those funders who still insist in conducting business with a leasing company or broker that is not licensed, your day will come when you regret this easy decision to make and enforce.

The leasing associations have been trying to bring everyone up-to-date, especially the Equipment Leasing Association with its current information on legal matters, the National Association of Equipment Leasing Brokers has had an active legal counsel for years, and the United Association of Equipment Leasing has had an active legal group for years at their conferences, and in fact, elected their second attorney as president of their association: Victor Harris, Esq.

White Paper on Equipment Leasing Insurance (article)

Previous Story:

US Bancorp gets Class Action Suit, California

Please don't forget the:

ELA Web Seminar on Fraud

(open to non-members)

Tuesday, June 20, 2006
2:30 - 4:00 pm EDT



Classified Ads---Sales Manager

Table Mountain Vineyards, above Huntley, Wyoming *

Atlanta, GA
30 years in transportation Finance with strong management/ sales background. Represented company on national & region markets. Started two successful operations- produce profits and growth.

Chicago, IL
Successful sales manager has 15 years experience with captives and independents. Expertise in re-energizing existing sales teams and territories, also building teams from scratch. True Team Leader looking for new challenge.

Chicago, IL
Senior sales manager seeks Chicago based sales management role with growing, creative, customer focused lessor. Extensive experience/documented results in all aspects of information technology leasing.

Geneva, IL
Leasing leader seeking sales manager, senior sales/business development, marketing or strategic planning opportunity. Twenty plus years in the business. Looking for a new challenge.

Marlton, NJ
25 years exper. Promoted to sales manager after attaining highest percentage of quota for 2 years. Increased business by 50% over two years as sales manager.

New York, NY
I have over 25 years owning an independent leasing company that specialized in truck leasing. Tow trucks, Limos, ambulances, tractors, etc..

Pennsauken, NJ
17 Years Leasing in all capacities from CSR and Collections to National Sales Management and Vice President Vendor Development. Exceptional People Skills. Many industry references.

Portland, OR
18+ yrs w/bank leasing company. Supervised 14- 20 sales people. Willing to relocate for the proper position.

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

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


“Established in 2001, the Zimmerer family has expanded its vineyard operation to 8,000 cold-hardy wine grapes. The grapes are tolerant to the extreme growing conditions Wyoming dishes out.

From extreme cold, bitter winters to hot and dry summers, the vines have taken root in Wyoming.

Cowboy Reserve

“This is our first wine made out of grapes grown right here in Wyoming! This is a light bodied red table wine hand made from Foche grapes. With smoky aromas and an earthy taste, it goes perfect with Wyoming beef. It is best enjoyed with good friends & family!”





Position Open at OneWorld Business Finance

On July 15th, 2005, OneWorld Leasing, Inc. dba OneWorld Business Finance, a member-owned financial services cooperative then comprised of sixteen independent leasing and finance companies, announced the appointment of Sharon Foglesong as President of the company located in Phoenix, Arizona. Now the world's first equipment leasing co-op, with 17 member-owners representing in excess of $250,000,000 in equipment financing annually, is in the market place for a new executive. Sharon Fogleson is moving on in her career.

The position requires “…an individual with experience running a diverse leasing company utilizing multiple funding channels,” says Leasing Cooperative Chairman John Winchester, CLP.

John Winchester, CLP and ComCo/OneWorld Equipment Finance 1.

(John served six years on the Board of Directors of the NAELB and one year on the Board of Directors of the CLP Foundation. Communications Leasing, Inc. works with Banks and other funding sources to offer equipment financing to businesses throughout the region since 1981.)

Ms. Foglesong has served OneWorld Leasing as an advisor to the Board of Directors assisting with business development, market analysis, and corporate structuring.

Previously, Ms. Foglesong was Vice President for Marathon Capital and National Marketing Director for the Diversified Capital Group of Dana Commercial Credit, a wholly owned subsidiary of the Fortune 500 Company, Dana Corporation. Ms. Foglesong received her Bachelors Degree from Arizona State University and pursued her MBA at the University of Tampa.

Sharon Fogleson is staying on board during the search period,” according to David Foglesong, Manager Of Member Services.

“She will be working with us during the transition period as much as possible, but has already taken a new position, “ he told Leasing News. “I am sure an announcement from that firm will be forthcoming and do not feel it is our place to do that.

“Yes, the co-op has grown under her helm and we will continue to grow. We have a few new members on deck. In addition, we have some great candidates that have expressed an interest that will really blow your socks off, I am just not at liberty to mention anyone at this point, for obvious reasons.”

Leasing Cooperative Chairman John Winchester, CLP, says the group has high hopes:

“It continues to amaze me with the ability to bring together leasing companies with a common goal, strength in numbers, “he said.

He noted the company had held a strategic planning meeting and set the main goal of the cooperative to increase its membership from 17 to 75 by 2010.

When the group was originally founded it told Leasing News it had goals to reach 25 members. Winchester says developing new standards for members and the implementation of new technology for communications and transaction processing, the membership will reach 75.

“The Cooperative hopes to have a new President/CEO hired within the next 60 days, “ Lou Manitzas, Treasurer of OneWorld said. “Sharon has provided a great service to this organization by helping to make us a profitable, cohesive team with a clear strategy by instilling in our members the drive and systems to help insure healthy sustained growth.”

The team now includes:

Aaron Rios, AAW Capital Corp. dba Prolease, Newport Beach, CA
Chris Cooper, Alternative Capital, Orlando, FL
David Stearns, American Leasing Alliance, Algonquin, Illinois
Doug Mills, Central Leasing Corporation, Birmingham, AL
John Winchester, Communication Leasing, Inc. dba
Comco Equipment Leasing Group, Nashville, TN
Jack Harvey, Enterprise Financial Solutions, Little Rock, AR
Mike Parker, Florida National Leasing Corp., Fort Meyers, FL
Harry Fry, Harry Fry & Associates,West Newbury, MA
Marc Keepman, KLC Financial, Minnetonka, MN
Stan Ragley, Leasing Resources, Charlotte, NC
Richard Wilbur, Charter Capital, Scottsdale, AZ
Bud Callahan, National Equipment Leasing, Indianapolis, IN
Chris Chiappetta, National Machine Tool Finance , Elk Grove Village, IL
Robert Lang, National Machine Tool Finance , Elk Grove Village, IL
Lou Manitzas, OneSource Financial Corp., Austin, TX
Jay Coles, Select Equipment Leasing Co., Concord, CA
Jourdan Saegusa, Team Equipment Leasing, Austin, TX
Jim Borland, US Energy Capital Corporation, Conyers, GA



Classified Ads---Help Wanted

Account Executive

Exp. Account Executive
Salt Lake City, Utah

Intermediaries--Background in sales/leasing and/or finance required/credit experience preferred. Salary plus commission. Fax resume: 801-733-2363 or email:

Jr. Analyst

Credit Analyst
Sausalito, CA

To start, $45M-60M per year depending upon experience and qualifications, small office in great community, work w/seasoned
professional; Banking or financial or leasing background required, opportunity to increase skills and knowledge: call Steve Pickens at 415-331-1725

Operations Manager

Operations Manager for growing equipment leasing/broker services co. in Costa Mesa, CA to oversee syndication, docs, & credit functions. Prior leasing experience pref. Salary with benefits. Send resume to:

VP-Manager of Equipment Lease Division

VP-Manager of Equipment Lease Division
Costa Mesa, CA

Responsibilities include managing and directing marketing staff from solicitations through credit submission and doc signing.
subsidiary Citizens Business Bank



Why I Became a CLP
Greg Rieke--"Small Ticket Lessor"

This is the twelfth article in a series about the Certified Lease Professional program, explaining why individuals decided to become a CLP, the process, and their reaction to the knowledge and other benefits gained.

Greg Rieke---“Small Ticket Lessor”

March, 2000, Greg started Genesis Commercial Capital, Irvine, California, where he now employees 25 people. He is responsible for all facets of owning and operating a small-ticket leasing company. Daily activities include credit underwriting, documentation review, funding & treasury, accounting, and compliance. He started out at Balboa Capital in September, 1993 and worked his way up to chief operating officer, before going out on his own. It was a change from managing a staff of 65 in the areas of credit underwriting, IT, portfolio management, commercial syndication, and contract administration.

He also assisted the company in growing from a headcount of 25 to 250. At Balboa, he was also instrumental in developing warehouse lines, commercial paper conduits, and securitization vehicle for equipment leases. Prior his was a commercial lending officer at Wells Fargo Bank for six years.

Today he has been married for six years with twin girls that are 16 months old. Education: BS in Ag Economics from California State University, Fresno. Outside Activities: Serving in my local church and real estate investment/development. Hobbies: Jogging, being outdoors, professional & college sports, and time with family.

"My decision to become a CLP was largely influenced by Shawn Giffin and Patrick Byrne (the original founders of Balboa Capital.) It was the summer of 1995 and I'd been working at Balboa Capital for approximately two years. Shawn and Patrick had created a culture where employees were always challenged to better themselves. In fact, I recall it became somewhat of a contest amongst employees at Balboa to obtain the CLP designation. So, along with a few of my colleagues, we committed to take the next CLP exam.

"Both Shawn and Pat were CLP's. I thought if they thought so much of the designation, I should also overcome the worry about whether I could become one, too. I'd heard much about the CLP exam, so I took it serious and studied extensively. And I'm sure glad I did, because it was one of the most challenging exams I'd ever taken. It covered every aspect of the leasing business, including how to sell a lease, pricing a lease, credit, documentation, funding, accounting, and taxation just to name some of the topics covered.

I was very proud to pass on my first attempt, and ecstatic I wouldn't have to study for it again!

Becoming a CLP also gave me the courage to start a new leasing company, Genesis Commercial Capital. Because we started business in 2000, a relative low-point in the leasing industry, I know what it means to fight each day for survival.

I'm very proud of what we've accomplished so far at Genesis, and consider myself truly blessed by two incredible business partners and 25 talented employees.

I think the designation also gave me help in working with the funding sources where the key persons such as Paul Menzel at Pacific Capital Bank , Ted Brownrigg and Dave Schaefer at Orion First Financial , Ron Wagner and Ben Millerbis at Pentech Financial , just to name a few.

I can also tell you When you deal with a broker or lessor who is a CLP, there is a immediate level of trust and creditability that I also extend to anyone that is a CLP.

While we don't have an official program here, I would gladly pay for the cost for any of my employees that wanted to sit for the CLP Exam. I also am in favor of having a mentor come in during the day and while employees are on our payroll, to help them study for the exam and learn from the "Handbook of Leasing."

As I look back on my 13 years in the leasing industry, obtaining the CLP designation would absolutely be amongst my “top ten” biggest professional achievements. And much more important, I view the CLP designation and CLP Foundation as a significant way we can support higher business competencies & standards in our industry.

For more information:

   Cindy Spurdle - Executive Director

   610-687-0213 direct
   610-687-4111 fax
   CLP Foundation
   Attn: Cindy Spurdle
   PO Box 302
   Wayne, PA 19087




Top Stories--June 12--June 16

Here are the top ten stories most "opened" by readers last week.

(1) Bulletin Board Complaint
American Equipment Finance LLC, Warren , New Jersey

(2 ) “Hot Leasing talk” in Baltimore

(3) Advantage Funding Sold

(4) Bob Fisher Promoted to Executive Vice President

(5) FASB Launches Review of Accounting for Leases

(6) More info on “Fee” Class Action Lawsuits

(7) White Paper on Equipment Leasing Insurance

(8) Sales Makes it Happen---by Steve Chriest
“6% of Time Spent Selling”

(9) Placard---Salesman did not meet quota

(10) Community Banks Steps Up anti-ILC Campaign



Alexa Ranks Leasing Media Web Sites

84,827 American Bankers Association
142,509  Leasing News
346,467 Monitor Daily
246,362 Equipment Leasing Association
595,286 Ind Community Bankers of America
905,977  Commercial Finance Association
1,148,794* National Assoc. of Equip Leasing Brokers
1,092,227  United Association of Equipment Leasing
1,490,572  Institute of International Container Lessors
1,090,921 Lean -Lease Enforcement Att Net
1,429,724  U.S.Banker
1,429,521 Leasing Notes
1,668,342  eLessors Networking Association
1,695,638  Exec Caliber-Jeffrey Taylor
2,053,386 Equip. Leasing & Fin Fndn
2,884,385   CLP Foundation
3,149,422 Leasing Press
4,715,670*Eastern Association of Equipment Leasing
5,340,170 Lease Assistant
3,881,541  Assoc of Government Leasing  Financing
No Data The National Funding Assoc
No Data
No Data Equipment Financial Journal

David G. Mayer's Business Leasing News is not included in the Alexa report list as it does not have its own individual site and Alexa finds Patton Boggs, LLP Attorneys at Law.  The rating is not valid as it includes all those who visit and communicate with the law firm.  When Business Leasing News has its own individual web site, it will be included in the Alexa survey.

*It should also be noted that two web sites have their "list serve" posted via their site, meaning their e-mails are counted as a visit to the site, whereas they are "list serve" communication.  These are technically visits to the web site, but primarily to use "list serve."

These comparisons are compiled by Leasing News using Alexa and should be viewed as a "sampling," rather than an actual count from the website itself.  Other than as noted above, we believe the ratings are reflective as most have stayed in the same position, basically, for over a year.

The Alexa tool bar works on most browsers.
They are partnered with Google.

You may download their free tool bar A graph and analysis of the last three months are available.

( Note: the lower the number, the higher you are on the list. It is based on all web sites. Leasing is only a very small part of the various sites such as Yahoo, MSN, Google, etc. )



Leasing Association Events-Meetings Open to All


New York Meet & Greet Lunch - June 20

Garden City Country Club
206 Stewart Avenue
Garden City, New York

Thursday June 20, 2006
Noon - 2:00pm

Registration begins at 11:45am

Hosted by Robert Goeller of Sierra Credit Corp.

To register or learn more, please go here:


UAEL Pacific Regional Event

Pacific Northwest
Summer Event

Wednesday, June 21, 2006
6:00 PM PDT

The New Acme Bowl
100 Andover Park West
Tukwila, WA 98188

Join local UAEL members for bowling, billiards,
hors d'oeuvres, drinks and a good time!

$20.00 Per Person
Online Registration


Massachusetts Meet & Greet Lunch - June 22

Longfellow's Wayside Inn
72 Wayside Inn Road
Sudbury, MA

Thursday June 22, 2006
Noon - 2:00pm

Registration begins at 11:30am; lunch begins at noon -1pm with discussion immediately following.

Hosted by Lewis Cohn, Esq., of Cohn & Dussi, LLC, Carl Anderson of M&T Bank, and George Parker of Leasing Technologies International.

Please contact the EAEL office at 212 809 1602 or for pricing and a registration form.


July 11, 2006

Meet and Greet Lunch hosted by Doug Welch
11:45AM Buffet Lunch with Roundtable discussion
$15 price, member or nonmember
Ansley Golg Club, Atlanta, GA

Please contact the EAEL office at 212.809.1602 or for pricing and a registration form.



August 3, 2006

EAEL's Day at the Races
Arlington Park Racetrack,
Arlington Heights, IL
12:00 to 5:00pm hosted by Shari Lipski.

Great Networking in an Executive Suite with luncheon buffet, open bar and fabulous Thoroughbred ricing.

For registration information, please contact the EAEL office at 212.809.1602 or


August 8, 2006 Phoenix Arizona

Networking and…

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

Meeting and Networking:
Tuesday August 8th 5:00

Sam’s Café Southwestern Grill

· Arizona Center
· 455 N 3rd St.
· Phoenix AZ 85004

Followed by:

Arizona Diamondbacks vs. the San Francisco Giants
Chase Field 6:40 P.M.

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

Fee: $20 payable by July 11, 2006. Price includes, networking with funders, heavy hors deurves, drink ticket and game ticket.

RSVP/Registration form to Steve



August 14, 2006

EAEL Golf outing
Rock Spring Country Club
Orange, NJ

Hosted by Jim Jenco and Robert Ingram.

For registration information, please contact the EAEL office at 212.809.1602 or


August 17th
Golf Outing

Rock Spring Country Club
West Orange, NJ

To register or learn more, please go here:




Clune--Since 1957

“Real People, Real Service since 1957. From our founding in 1957 by my father, Bob Clune, we earned a reputation for making lease financing easy for our customers by providing convenient, efficient and swift customer service. Our experience and financial strength give us the knowledge and ability to respond to customer needs with creative and flexible lease-financing solutions. Our customers and vendors tell us the primary reason they do business with us is due to our commitment to their success and satisfaction. These are our highest priorities: customer satisfaction, customer success and high integrity. We make every effort to understand our customers' requirements and be sure our programs support their success. Call today to speak with one of our friendly and knowledgeable people to find out why our motto is ‘Real People, Real Service, Since 1957.'”

“Kevin Clune, President”



Oracle pays $130M to dump RE lease

Software giant strapped with Peninsula space after Siebel buy

By J.K. Dineen

San Francisco Business Times

Oracle Corp. has agreed to pay ING Clarion Partners $130 million to buy its way out of a long-term lease at 800 and 900 Concar Drive, unwanted buildings that the Redwood Shores-based company inherited when it acquired Siebel Systems Inc. in 2005, according to sources.

The transactions are the latest effort by Oracle to rid itself of more than 800,000 square feet of office space it took on last October when it agreed to buy Siebel for $5.85 billion. While top-tier Class A office space in the Mid-Peninsula hovers at about $25 to $30 a square foot, Siebel rented much of its space at the height of the dot-com market, leaving Oracle on the hook for astronomical rents for a decade to come.


Bob Fisher has “Wholesale Financing”

Private Label Program Overview at Main Street National Bank

The Private Label program has been designed to provide discount financing to established Lessors who have demonstrated the ability not only to originate a significant level of lease volume but also service their own portfolio. The program is designed to provide the advantages of building your own portfolio, minus the administrative and financial burdens.

Main Street National Bank invoices the lessees under the Lessor's name, the lessee is unaware the lease has been sold. Private Label Lessor continues to SERVICE, retaining identy with the lessee, and has the opportunity to solicit repeat transactions.

Main Street Nation Bank will provide a lock-box service where all payments are routed. Lessor need not worry about cash accounting and cash management.

Main Street National Bank provides a credit guidelines checklist, thus facilitating the lessor with the ability of knowing that transacactions fitting the guidelines will be purchased, approval ratios should be in excess of 95%.

Main Street National Bank will provide application transaction up to $75,000.

Main Street National Bank will consider developing special credit criteria with lessors having strong vendor relationships.

Main Street National Bank's program provides Limited Recourse Provision if 10% of the total amount sold to Main Street.

Main Street National Bank provides for 97% advance rate of the full present value.

Main Street National Bank will provide Lessors with daily cash application and delinquency reports, via the internet on a daily basis.

Bob Fisher
Phone: 866-563-8500 x 1017
Local: 281-348-2017


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

Kevin Ward and Michael Evans Join Main Street Bank

KINGWOOD, TEXAS, – Main Street Bank, Kingwood, Texas, announced the appointment of Kevin Ward as Senior Vice President and General Manager of the Healthcare Division, and Michael Evans as Vice President of Healthcare.

Ward has over 30 years of experience in the equipment leasing and healthcare industry. He has served in management and senior management positions with Popular Leasing USA - a subsidiary of Banco Popular North America, Newcourt Credit Group, Copelco Capital Company and DVI, Inc. He has developed and supported over $700 million of healthcare finance programs.

Evans is a seasoned leasing professional with over thirty years of experience. He has served in senior management positions with Popular Leasing USA, Sterling Bank Leasing, Dime Commercial Corporation and Chase Manhattan Leasing. His experience includes leadership and participation in the business development of small to large ticket healthcare and commercial programs.

Tom Depping, Chairman of Main Street Bank stated: “Serving the equipment financing needs of the healthcare industry is a strategic objective of Main Street Bank. We are quite pleased that Kevin and Mike have joined our organization. With the combination of their experience and expertise, and the resources available through Main Street, we believe our healthcare finance platform will quickly grow the premier healthcare funding source for vendor and end users.”

Ward said: “We are delighted to be a part of an organization dedicated to its clients. Main Street has demonstrated the strategic vision, market commitment, and financial resources that are important to the healthcare industry.”

Main Street Bank, established in 1984, maintains retail-banking offices in the Houston, Texas market and is a national leader in commercial equipment lease financing.

Kevin and Mike can be contacted at and


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

Terry M. Keating Joins Hovde

Chicago, IL – – Hovde is pleased to announce that Terry M. Keating has joined the company as Senior Vice President and will be based in the firm's Chicago, IL office. A long-time leader in providing financing to the specialty finance industry, Mr. Keating will manage and grow the firm's investment banking practice in the specialty finance sector, and will assist in the sourcing and due diligence of investment opportunities for Hovde's private equity fund, Financial Services Partners Fund I.

Steven D. Hovde, President and CEO of Hovde Financial, remarked, "Terry's 12+ years of experience in banking specialty finance firms will enable him to very effectively expand our practice and to provide an exceptional level of service to institutions in this arena. We are delighted to welcome Terry to the team.”

Terry Keating states, “Hovde is clearly a leader in the financial services industry and I look forward to growing the firm's presence in specialty finance. I am pleased to utilize my experience in the various sectors of consumer finance, commercial finance, residential leasing, commercial mortgage banking, and other areas of specialty finance, to serve these companies in an investment banking capacity or through private equity investments.”

Prior to joining Hovde, Mr. Keating founded and managed the Non-Bank Financial Institutions Division of LaSalle Bank. During his time with LaSalle Bank, Mr. Keating was responsible for growing this division and for the leadership of a 12-person team that supported over 50 clients in 15 states and with loan commitments of over $1 billion. Throughout his years of management of this unit for LaSalle Bank, Mr. Keating established a deep industry network and strong operational knowledge, predominately as a result of his experience reviewing nearly 500 companies for potential financing and serving as banker and advisor to many. Mr. Keating also has significant experience in restructuring and the development of industry specific due diligence procedures and best practice standards for specialty finance.

The Hovde Organization is an investment banking, private equity and asset management firm focused exclusively on the financial services industry. Founded in 1987, Hovde is headquartered in Washington, DC, with additional offices in Chicago, Los Angeles and Palm Beach.


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

News Briefs----

Home builder sentiment falls; is lowest in a decade

Trouble Looms for Car Loans

New Fed chief faces dilemma

Fed governor Olson to chair SEC's Public Company Accounting Oversight Board

Rather eyes exit after 44-year CBS run

Couric's Departure Not Hurting 'Today'

Arizona Wildfire Forces Evacuations



You May have Missed---

Home builders outline their impact on economy



Sports Briefs----

Carolina Captures First Stanley Cup



“Gimme that Wine”

Storms ruin acres of Portugal wine crops

Can't sleep? Have a glass of red wine

Sebastiani to run for Sonoma City Council

Arizona Winery owners say new law will help their sales

Time in a bottle
Older wines capture the imagination; do they still enrapture the palate?

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page



Calendar Events This Day

Argentina: Flag Day

National Holiday. Commemorates the deaths in 1820 of Manueal Belgrano, the designer of the Argentine Flag.

United Nations: World Refugee Day

A day to bring attention to the situation of refugees---their rights, as well as their suffering.

West Virginia: Admission Day .

Observed as a holiday in West Virginia. The state of West Virginia is a product of the Civil War. Originally part of Virginia, West Virginia became a separate state when Virginia seceded from the Union.

Vanilla Milk Shake Day



Today's Top Event in History

1863- West Virginia became the 34 th state. Observed as a holiday in West Virginia. The state of West Virginia is a product of the Civil War. Originally part of Virginia, West Virginia did not secede from the Union, but joined officially as the 35th state. Charleston is the capital of the Mountain State which boasts of having the most rugged terrain of any state east of the Mississippi. Throughout the forested hills of West Virginia, you'll also find many cardinals (the state bird) and multitudes of the state flower, the big rhododendron.



This Day in American History

    1819 - The 320-ton paddle-wheel steamship Savannah became the first steamship to cross the Atlantic. It arrived in Liverpool after a journey from Savannah, Georgia, of 27 days 11 hours.
    1856-In San Francisco, Committee of Vigilance headquarters was fortified with sandbags to stop any attacks by troops sent by the Governor to quell the insurrection. Cannons are mounted on the roof to forestall bombardment.
    1858- Birthday of Charles W. Chestnutt, who is considered by many as the first noted black novelist in American Literature. His collections of short stories included “The Conjure Woman (1899)” and “the Wife of His Youth and other Stories of the Color Line(1899). “ The Colonel's Dream (1905) dealt with the struggles of the freed slave. His work has been compared to later writers such as William Faulkner, Richard Wright, and James Baldwin.
    1863- West Virginia became the 34 th state. Observed as a holiday in West Virginia. The state of West Virginia is a product of the Civil War. Originally part of Virginia, West Virginia did not secede from the Union, but joined officially as the 35th state. Charleston is the capital of the Mountain State which boasts of having the most rugged terrain of any state east of the Mississippi. Throughout the forested hills of West Virginia, you'll also find many cardinals (the state bird) and multitudes of the state flower, the big rhododendron.
    1893-Spectators at her trial cheered when the “not guilty” verdict was read by the jury foreman in the murder trial of Lizzy Borden. Elizabeth Borden had been accused of and tried for the hacking to death of her father and stepmother in their Fall River, MA, home, Aug 4,1892.
    1867-the first territory that was noncontiguous was annexed to the United States. Alaska was purchased from Russia for $7.2 million. General Lovell Harrison Rousseau, the first military governor of the territory, took formal possession of Alaska in October, 1867.
    1885-- A band of Moravian missionaries landed on the shores of Alaska and founded the Bethel Mission. During the first year of their mission work among the, Eskimos, winter temperatures outside their makeshift housing plummeted to 50 degrees below zero!
    1893 -- Eugene Debs forms the American Railway Union (ARU).
In just a few months the union leads an 18-day strike against the Great Northern Railroad, forcing management to reverse three wage cuts. The victory against a railroad with 2,500 miles of track & 9,000 employees was so remarkable — especially during a depression — that the union signs up 2,000 members a day. This sets the stage for Chicago's Pullman Strike of 1894 — the first organized nationwide strike in US history.
    1894-birthday of Dr.Lloyd A. Hall, African-American pioneer in food chemistry, Illinois
    1895- Caroline Willard Baldwin became the first woman to earn a doctor of science degree at Cornell University, Ithaca, NY. (sorry could not find any biography or whatever happened to her.)
    1898-Having not known that a war was in progress and having no ammunition on the island, the Spanish commander of Guam surrendered to Captain Glass of the USS Charleston. Guam later became a protectorate of the US.
    1901-Charlotte Manye becomes the first native African to graduate from an American University
    1905 -- Playwright Lillian Hellman born, New Orleans. American playwright/memoirist. Had lifelong relationship with mystery writer Dashiell Hammett until his death (1961). Died 1984.
    1907 -- First Portland Oregon Rose festival.
    1910 - Singer and comedienne Fanny Brice made her debut in the Ziegfeld Follies. She received rave reviews from the Broadway critics.
    1911-The National Association of Advancement of Colored People incorporates in New York City, NY
    1912—trumpeter Lammar Wright, Sr. born Texakana, Texas ( with Benny Moten, Cab Calloway for 17 years).” Benny Moten's band is now a solid New Orleans style group even though they are from Kansas City. The trumpeter Lammar Wright is now playing with a fast terminal vibrato. 18th Street Strut uses Oliver-style phrases.”
    1915-The St. Louis Browns arrived in Detroit for a game against the Tigers without their uniforms. The Tigers lent the Browns spare uniforms and then beat them, 1-0.
    1917-Birthday of guitarist/singer Jimmy Driftwood, Mountain View, AR, Died 1998.
    1920-Trumpet player Doc Evans birthday
    1920 -- Actor DeForest Kelley born at Atlanta, Georgia; perhaps best known for his role in Star Trek as Dr. Leonard "Bones" McCoy.
    1921-Miss Alice Robertson of Oklahoma became the first woman to preside in the US House of Representatives. Miss Robertson president for half an hour.
    1924-birthday of guitarist Chet Atkins, Luttrell, TN
    1928-birthday of alto sax/flute player Eric Dolphy, Los Angeles, Ca. Died, 1964.
    1929 -- Louis Armstrong and an all-black cast open in "Hot Chocolates," New York City.
    1936-- Billy Guy, baritone singer with the 1950's group the Coasters, was born in Los Angeles. The Coasters, formed in 1955, had a series of hits with novelty songs written by Jerry Lieber and Mike Stoller. The group achieved widespread popularity with their first releases in 1956 - "Down in Mexico" and "One Kiss Leads to Another." The Coasters' other hits included "Yakety Yak," "Charlie Brown" and "Poison Ivy." Many of the sax breaks on the Coasters' records are played by King Curtis.
    1942- Brian Wilson, lead singer and main songwriter for the Beach Boys, was born in Hawthorne, California. Wilson's songs - such as "Surfin' USA," "I Get Around" and "Help Me, Rhonda" - were all about being a teenager in California in the early 1960's - about surfing, driving and dating. The group turned to more grown up topics later in the decade, but the Beach Boys have survived mainly as a nostalgia act. They have sold more than 65 million records worldwide. Brian Wilson became a virtual recluse in 1970 when his neuroses and drug abuse got the better of him. He has since done the odd live show, and released a solo album in 1988.
    1943-Federal troops put down racial riot in Detroit 30 dead.
    1944 - The battle of the Philippine Sea ended with Japan losing almost all its remaining trained pilots and at least 4,000 seamen.
    1945 -- Abbott & Costello's "Who's on First" routine is first seen, in the film "The Naughty Nineties".
    1948-“The Ed Sullivan Show” premiered on television. It was officially titled “Toast of the Town” until 1955. We all watched it, especially since we were living in the early 1950's in Port Chester, NY, where he also lived. It was the longest-running variety show (through 1971) and the most popular for decades. Ed Sullivan, the host, signed all types of acts, both well known and new, trying to have something to please everyone. Thousands of performers appeared, many making their television debut, such as Irving Berlin, Victor Borge, Hedy Lamarr, Walt Disney, Fred Astaire and Jane Powell. Two acts attracted the largest audience of the time: Elvis Presley and the Beatles.
    1949-birthday of Lionel Richie, Tuskegee, AL ; Tenor sax, songwriter, the son of a retired U.S. Army captain and a teacher. The former lead singer of the Commodores has five No. 1 hits, including "Endless Love." That duet with Diana Ross sells more than 2 million copies and in 1981 tops Billboard's Hot 100 for nine weeks, longer than any other duet.
    1945-Birthday Anne Murray, one of the most popular female singers in the world, was born in Springhill, Nova Scotia. In 1966, she became a member of the chorus of "Singalong Jubilee," a CBC TV show from Halifax. Murray continued as a featured performer on the show until 1970, the year the success of her recording of "Snowbird" caused a dramatic increase in her popularity. It was the first disc by a Canadian female vocalist to earn a gold record in the US. During the 1970's, Murray developed into Canada's most popular female singer. And she began enjoying great success with pop and country audiences in the US and Britain. She began appearing frequently on "The Glen Campbell Goodtime Hour" on CBS TV. Her hits included "Talk It Over in the Morning," "What About Me" and "You Needed Me," a 1978 million-seller. In 1986, she opted for a new, more contemporary image, with the hit "Now and Forever," produced by David Foster.
    1950 - Willie Mays graduated from high school this day and immediately signed with the New York Giants for a $6,000 bonus. The ‘Say Hey Kid' would play most of his career for the Giants -- in both New York and San Francisco -- becoming a baseball legend. As his career came to a close, Mays was traded to the New York Mets. Mays, an all-star center fielder, is in the Baseball Hall of Fame. He lives on the San Francisco Peninsula.
    1953-Cyndi Lauper is born.
    1955---Top Hits
Cherry Pink and Apple Blossom White - Perez Prado
Rock Around the Clock - Bill Haley & His Comets
It's a Sin to Tell a Lie - Somethin' Smith & The Redheads
Live Fast, Love Hard, Die Young - Faron Young
    1957 -A violent tornado, rated F5 on the Fujita scale, tore through Fargo, North Dakota. 10 people were killed and 103 injured. Over 1300 homes were damaged or destroyed.
    1960-Floyd Patterson became the first boxer to regain the heavyweight championship when he knocked out Ingemar Johansson of Sweden at 1:51 of the fifth round. Patterson won the crown for the first time on November 30, 1956, defeating Archie Moore. Johansson scored a TKO over the champion on June 26, 1959. Johansson also lost a third fight on March 13, 1961.
    1963 - The United States and the Soviet Union established a hot-line to serve as an emergency communications system between the two superpowers during the Cold War. While the system was tested, it was never used.
    1963---Top Hits
Sukiyaki - Kyu Sakamoto
You Can't Sit Down - The Dovells
Blue on Blue - Bobby Vinton
Act Naturally - Buck Owens
    1965 - No. 1 Billboard Pop Hit: "Mr. Tambourine Man," The Byrds.
    1966 - The U.S. Open golf tournament was broadcast from San Francisco, with something extra for the nation's golf fans. It was the first time TV had beamed a golf event in color.
    1969--The three day Newport Festival began in Northridge, California, featuring such performers as Jimi Hendrix, Joe Cocker and Ike and Tina Turner. Hendrix was paid $135,000, at the time the most ever paid to a rock performer for a single performance. Like the notorious Altamont Festival later in the year, there were violent gate-crashing incidents and a motorcycle gang had been hired for security.
    1970 - Beatles tune "The Long and Winding Road" began its second week on the pop music charts number one spot. It would be the last song released by The Beatles.
    1970-Neil Young's "Cinnamon Girl" goes gold.
    1971---Top Hits
It's Too Late/I Feel the Earth Move - Carole King
Rainy Days and Mondays - Carpenters
Treat Her Like a Lady - Cornelius Brothers & Sister Rose
When You're Hot, You're Hot - Jerry Reed
    1977-Former White House chief of staff HR Haldeman enters prison, Died 1993.
    1977 - No. 1 Billboard Pop Hit: "Got to Give It Up (Pt. 1)," Marvin Gaye.
    1979---Top Hits
Hot Stuff - Donna Summer
We are Family - Sister Sledge
Ring My Bell - Anita Ward
She Believes in Me - Kenny Rogers
    1980- "It's Still Rock & Roll" becomes Billy Joel's first #1 hit.
    1985 - Coach Rollie Massimino told reporters, "I just can't leave Villanova," when he turned down a $2.1 million over ten years offer to coach basketball for the New Jersey Nets.
    1987 - Whitney Houston's album, "Whitney", debuted on "Billboard" magazine's album chart at number one. Houston became the first female to have an LP debut at the top. The singer, daughter of Cissy Houston and cousin of Dionne Warwick, began her singing career at age 11 with the New Hope Baptist Junior Choir in New Jersey. Houston first worked as a backup vocalist for Chaka Khan and Lou Rawls; entered modeling in 1981, appearing in "Glamour" magazine and on the cover of "Seventeen". Whitney married soul singer, Bobby Brown, in the late 1980s.
    1987---Top Hits
Head to Toe - Lisa Lisa & Cult Jam
I Wanna Dance with Somebody (Who Loves Me) - Whitney Houston
In Too Deep - Genesis
Forever and Ever, Amen - Randy Travis
    1988-a law to force the admission of women to private clubs was upheld unanimously by the Supreme Court. At issue was a New York City law requiring women to be admitted to large, private clubs that are said to play important roles in business and professional life. In New York, the University Club had already voted to admit women. By the end of August, the Union League Club, the Century Association, and the Friars Club in New York agreed to admit women. The Friars Club in California admitted its first female member in 1987. On June 18, the exclusive Cosmos Club in Washington, D.C.C. unassailably male for 110 years, voted by a large majority to accept women. It too had been threatened with legal action.
    1988 - Thirty-eight cities in the central U.S. reported record high temperatures for the date. Afternoon highs of 97 degrees at Flint, MI, and 104 degrees at Chicago, IL, equaled records for the month of June. Thunderstorms in North Dakota produced baseball size hail near Kief, and wind gusts to 100 mph near McGregor
    1993- With a four-games-to-two victory over the Phoenix Suns in the National Basketball Association (NBA) finals the Chicago Bulls earned their third straight NBA title, defeating the Phoenix Suns, 4 games to 2. The Bulls became the first team to win “three ‘peat” since 1966, when the Boston Celtics won their eighth in a row. In 1996 the Bulls won the NBA title for a fourth time, in 1997 for a fifth and in 1998 for a sixth, for another three-in-a-row sweep.
    1994 - U.S. athlete O.J. Simpson pleaded innocent to murdering his ex-wife and her friend.
    1994-- Geffen Records offered the estimated two million subscribers to the CompuServe computer bulletin board an opportunity to download a previously unreleased Aerosmith song, "Head First." The track was recorded during the band's sessions for the 1993 album "Get a Grip." It was one of the first times that subscribers to a bulletin board service could download an entire song over computer lines.
    1995-- Michael Jackson's "HIStory - Past, Present and Future: Book One" was released. The double CD, Jackson's first album since child molestation allegations two years earlier, debuted at number one on the Billboard chart. Initial sales in the US were strong but dropped off sharply in subsequent weeks. Canadian record stores reported only moderate sales. Jackson had to battle controversy over anti-Semitic lyrics in the song "They Don't Care About Us." He said he used the words to illustrate the evils of prejudice. Jackson promised to include a written explanation in albums already produced and not shipped and to re-record the song with new lyrics for future releases.
    1995 -A supercell thunderstorm dumped unusually large hail for New England in Connecticut. Baseball size hail fell at Vernon, Manchester, Deep River, and Old Saybrook. At deep river, the large hail lasted for 20 minutes, causing hundreds of thousands of dollars in damage. Some automobiles were totaled. In one historic building, 25 windows were broken, including a 100 year old curved window.
    1995 - Legendary country duo George Jones and Tammy Wynette release reunion album "One."
    1999 - Payne Stewart made a 15-foot par putt on the 18th hole at famous Pinehurst Resort & Country Club's No. 2 course in Pinehurst, North Carolina. The putt was just enough to win the U.S. Open by one stroke over Phil Mickelson. Stewart, one stroke behind with three holes to play – and apparently heading for a play-off round the next day -- made a 25-foot putt for par to catch Mickelson, a 3-foot birdie putt on No. 17 to take the lead, and then his 24th putt of the day to win the championship. He tragically died in a plane crash October 25, the same year, 1999.
    2004-- On Father's Day with his dad present, Ken Griffey, Jr. nails a 6th inning fastball of Cardinal hurler Matt Morris over the right field wall at Busch Stadium for his 500th career home run. The Reds' center fielder becomes the 20th major leaguer and the sixth youngest (34) to reach the milestone.

NBA Finals Champions This Date

    1993 Chicago Bulls



Baseball Poem

– Old Timer's Day, Fenway Park, 1 May 1982

Donald Hall, U.S. Poet Laureate

When the tall puffy
figure wearing number
nine starts
late for the fly ball,
laboring forward
like a lame truckhorse
startled by a garter snake,
– this old fellow
whose body we remember
as sleek and nervous
as a filly's –

and barely catches it
in his glove's
tip, we rise
and applaud weeping:
On a green field
we observe the ruin
of even the bravest
body, as Odysseus
wept to glimpse
among the shades the shadow
of Achilles

Fathers Playing Catch with Sons

About the new US Poet Laureate Donald Hall, avid Boston Red Sox fan.




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


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