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Monday, March 15, 2010

(Second from left)

Actor Judd Hirsch born March 15, 1935 Bronx, New York, most known for playing the characters Alex Rieger on the television comedy series Taxi (114 episodes, 1978-1983) and Alan Eppes on the current CBS series Numb3rs (114 episodes, 2005-2010). "Dear John" ((74 episodes, 1988-1992) "Delvecchio" (22 episodes, 1976-1977) and many other series and television shows since 1971 as well as Broadway "I'm Not Rappaport" and "Conversions with My Father."


LEAF-Specialty–A Real Up-Date!
   by Christopher Menkin
    Classified Ads---Credit
 Is the Broker/Discounter System Broken?
  by Christopher Menkin
   Leasing Companies out of the Broker Business
 Randy Haug on NEFA Dallas Conference
  Truck Repo’s Decline/Construction & Printing Up
Bank Beat---Florida's 4th, Louisiana 1st since 2002
 Two New York City Bank Investors at Fault?
  Classified Ads---Help Wanted
Top Stories March 8—12
 Leasing 102 by Mr. Terry Winders, CLP
  Vendor Support Agreements
   Honolulu, Hawaii--Adopt-a-Dog
News Briefs---
 GCR Leasing Judy DiVincenzo Resolved all complaints here, but...
  BBB: F
   Jeffery Taylor of Scottsdale, Ariz $200,000 on 12 credit cards
    Falfurrias Capital Partners Invests in Commercial Credit Group
     Apple iPad enjoys strong early interest
   Tomato king sees his empire crumble
 Simon's £1m egomobile
  You May have Missed---
    Sports Briefs---
     "Gimme that Wine"
   Today's Top Event in History
     This Day in American History
       Winter Poem
         Daily Puzzle
  Weather, USA or specific area
     Traffic Live----

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


LEAF Specialty- A Real Up-Date!
by Christopher Menkin

Dwight Galloway, CLP, President, Leaf Specialty Finance

Yes, the rumor is true. Leaf Specialty Finance, Columbia, South Carolina, is not accepting any new business and it may not just be for the time being.

The next day after the late Thursday afternoon interview with Dwight appeared in Leasing News, the emails came in:

They are no longer doing deals. You did not hear this from me.”

At this time we are servicing the portfolio and funding what is in backlog.” 

Several others were not known to Leasing News, so calling around found:

No. They have not put it in writing to anyone… just telling us one at a time that they ‘hope to open it up again in the near future’.

Yes I got the call and so did many others!”

Leasing News also learned that LEAF Specialty Finance did not renew their membership in the National Association of Equipment Leasing Brokers. Their intention to get out of the broker business could not have spoken any louder than this intention to no longer participate.

I frequently have Dwight in a paratrooper uniform. He was tagged “Airborne” at Fort Benning when he was a 20 year old in 1971; and after several years elsewhere (and Benning two more times) Dwight was an Infantry company commander in the 2nd Battalion 504 Infantry, 82nd Airborne in the late 1977-79. He is 60 years old now, has had several knee operations, most likely from the action he saw jumping out of airplanes.

December 29, 2009 the story was “LEAF Specialty Finance for Sale/or Else!” Corporate wanted to get out of the broker business and had given him until the end of March, it was said, to find a buyer, and he could go with it, waiving the compete clause, and if not, they were going to shut the operation down.

February 17, 2010 wrote “LEAF 1st Quarter Down 69%” and with a new mandate from a new financial officer, “These efforts target eliminating overhead redundancies occurring through our acquisitions and taking advantage of efficiencies obtained by operating on a single platform.”

Dwight has been down this road before, being acquired by a mortgage company, a mortgage company that was then acquired by an internet bank, and also actually operated under the FDIC for a time period before LEAF bought his unit ( perhaps the only leasing company to be able to make that claim.)

He has always managed to hold his operation together.

LEAF Specialty Finance for Sale/Or Else!

LEAF 1st Quarter Down 69%


Classified Ads---Credit

Atlanta, GA
9 Years experienced small ticket Credit Analyst seeking full-time position with equipment broker/lessor. Resume available. Email at or
Orange County, CA
10 yrs. exp. middle market credit underwriting/syndication/collections. All collateral. Seeking full-time position with equipment broker/lessor. Resume available


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

Other e-Mail Posting Sites:


Is the Broker/Discounter System Broken?
by Christopher Menkin

Adding LEAF Specialty Finance to the list (please see lead story above) there are now 70 companies who are no longer doing business with brokers and discounters. While it is correct that several are out of the leasing business altogether, the fact is plain: “There are a number of companies that now no longer are handling broker paper or private label contract discounting.”

In addition, those still with a broker/private label discount program have much more stringent requirements.

What is the role of the Broker and Discounter today? Is he an extension of the marketing department or a replacement of a branch system with bricks, mortar and employees?

Where does the blame rise when a broker’s or discounter’s portfolio starts to have excess delinquencies? Is adequate blame placed on a bad credit model, poor credit work or unfairly blamed on the Broker?

Would the same evaluation take place on a direct sales marketing concept?

Then there is the whole concept of “reps and warrants”. It seems to me that that concept should be reviewed in its reliance just as “hell and high water” clauses have been.

Please let me hear from readers on this subject:

(I would prefer you sign your name to make the statement more relevant, but will consider “name with held.”)

From the Desk of Michael J. Witt, Esq.
The Minefield of Reps and Warrants

Representations and Warrants
by Christopher Menkin


Leasing Companies Out of Broker Business

These are companies who are either out of business who worked with independent equipment leasing brokers or no longer are doing business with independent equipment brokers within the last year. This is not a list of companies who do not do business with independent equipment brokers.

Advantage Business Capital, Lake Oswego, Oregon
AEL Financial, Buffalo Grove, Illinois
*(No longer taking new broker business)
Balboa Capital, Irvine, Ca
Bankers Healthcare Group, Weston, FL.
C and J Leasing Corp, Des Moines, Iowa
Chesterfield Financial, Chesterfield, Missouri
Churchill Group/Churchill Leasing, Jericho, NY
CIT Group (limited)
Columbia Bank Leasing, Tacoma, WA
Concord Financial Services, Long Beach, California
Court Square, Malvern, Pennsylvania
Creative Capital Leasing Group, LLC, San Diego, CA
Direct Capital, Portsmouth, New Hampshire
Diversified Financial Service, Omaha, NE
Dolsen Leasing, Bellevue/Yakima, Washington
Equipment Finance Partners, a division of Altec, Birmingham, Alabama
Evans National Leasing, Inc., Hamburg, NY
Enterprise Funding, Grand Rapids, Michigan
Excel Financial Leasing, Lubbock Texas
First Corp.(IFC subsidiary), Morton Grove, Illinois
First Republic Bank, San Francisco, Ca
GE Capital, Conn (limited)
Global Funding LLC., Clearwater, FL
Greystone, Burlington, MA
Heritage Pacific Leasing, Fresno, CA
Hillcrest Bank Leasing, Overland Park, KS
Huntington Equipment Finance, Vendor Finance Group, Bellevue, Washington
IFC Credit Corp., Morton Grove, Illinois
Irwin Financial (Irwin Union Bank), Columbus, Indiana
Irwin Union Bank, F.S.B. (Louisville, Kentucky)
Lakeland Bank, Montville, NJ
LaSalle Systems Leasing
Leaf Specialty Finance, Columbia, South Carolina
LEAF Third Party Funding, Santa Barbara, Ca.
Lombard, part of Royal Bank of Scotland, worldwide
Marlin Leasing, Mount Laurel, NJ
Marquette Business Credit Inc., Minneapolis, Minnesota
M&T Credit (Bank)
MericapCredit, Lisle, Illinois
Merrill Lynch Financial
Mesa Leasing, San Diego, California
Midwest Leasing Group,Livonia, MI
National City, Cleveland, Ohio
Navigator (Pentech subsidiary) San Diego, California
OFC Capital, Roswell, Georgia
Old National Bank, Evansville, Illinois
Pentech Financial, Campbell, CA
PFF Bancorp, Inc, Pomona, CA
Pinnacle Business Finance, Fife, Washington
Pioneer Capital Corporation, Addison, Texas
PredictiFund, a subsidiary of Capital Access Network, Inc
Popular Finance, St. Louis, Missouri
Radiance-Capital, Tacoma, WA
Rational Technology Solutions, Rolling Meadows, IL
Sandy Springs, Olney, MD
Sovereign Bank, Melville, New York
Specialty Funding, Albuquerque, NM
SunBridge Capital, Mission, Kansas
Suncoast Equipment Funding Corp., Tampa, Florida
TechLease, Morgan Hill, California
Textron Financial
Triad Leasing & Financial, Inc., Boise, Idaho
Union Capital Partners, Midvale, Utah
US Bank, Middle-Market, Portland, Oregon
Velocity Financial Group, Rosemont, Illinois
VenCore, Portland, Oregon
Vision Capital,San Diego, California
Wachovia Bank Leasing
Washington Mutual Financial
Western Bank, Devils Lake, ND
Westover Financial, Inc., Santa Ana, California


March 19-21
NEFA Spring Conference
The Fairmont
Dallas, Texas

“We have a great venue at a great location in Dallas. We have some great panel discussions lined up on the important challenges of today,”

Randy Haug, National Equipment Finance Association President says. “These will be discussed by utilizing the very open ‘town hall style’ panel discussions NEFA has become known and admired for by its members and the industry.

“We will have sessions that provide a funding and broker/ lessor perspective, a great Capital Markets session put on by some of the best thought leaders in the business today, some smart and timely marketing strategies that you can actually use as we turn the corner and rebound, plus new credit strategies that we can all use in our business.

“Based on our NEFA survey feedback, these are the types of sessions that our members have asked the NEFA for and we are delivering it in a realigned cost effective format at this year’s Spring Conference in Dallas.

“Above all you will find this year’s spring conference to be engaging, personal, valuable, sensitive to everyone’s valuable time, affordable and fun. If you are anywhere near this venue or can get there you should seriously consider attending.”


Randy Haug
Sr. Vice President / Partner
LeaseTeam, Inc.
(800)531-5086 x 1014

Also not too late to register:


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

Truck Repo’s Decline/Construction & Printing Up

WESTBURY, NY, -- Repossessions and liquidations of trucking equipment in the fourth quarter of 2009 declined significantly as compared to similar figures from 2008, according to Nassau Asset Management's NasTrac Quarterly Index (NQI).

“2009 ended with two quarters of mixed results, after beginning the year with two very difficult quarters,” said Ed Castagna, president of Nassau Asset Management. “These numbers indicate some relief for the battered trucking and machine tool verticals of the equipment leasing sector, but that relief has yet to spread to other important sectors.”

Castagna continued, “Based on the data in the NQI and information gathered in our ongoing communication with clients and other business leaders in the various economic sectors in which we operate, we foresee more months of these varied results before things improve.”

Trucking repossessions dropped by 55 percent in the latest NQI, marking the second straight quarter of considerable declines. The results in these two quarters follow in the wake of a steady increase in activity in this sector, beginning in early 2008.

Machine tool repossessions processed by Nassau followed the same track as trucking repos. They declined by 20 percent in Q4 2009, following a decline of 55 percent in Q3 2009, as compared to the same periods in 2008.

Construction repossessions and liquidations rose by 23 percent during the quarter.

Printing equipment repossessions increased by more than 200 percent, as compared to the same total last year.

Trucking Repossessions and Liquidations:
The 55 percent drop in truck repossessions follows a 44 percent decline in the previous month. This severe reduction in activity seems to indicate that the trucking sector has positioned itself for a turnaround that unfortunately has yet to begin.

Data from the U.S. Department of Transportation’s Bureau of Transportation Statistics supports this trend. The Freight Transportation Services Index (TSI), which measures the month-to-month changes in freight shipments in ton-miles, was unchanged in December from its November level. Meanwhile, although the index recorded a 4.1 percent decline for all of 2009, it increased by 2.9 percent during the last seven months of the year.

Even with its recent surge, the Freight TSI is down 14.8 percent from its historic peak, which occurred in May 2006.

In addition, FTR Associates, an industry leader in freight transportation forecasting, reported that January 2010 Class 8 truck total net orders for all major North American OEM’s were at the lowest level since July of 2002. January’s order activity was down 46.4% from December and was 20.1% lower than the same month a year ago. This decline in January activity followed a brief spurt of activity in late 2009, when FTR analysts recorded fleets taking advantage of open build slots.

Other Repo Trends
Nassau's latest NQI compares the company's internal repossession and orderly liquidation activity in the fourth quarter of 2009 with the same period of 2008. In addition to reporting on truck volume, the latest NQI revealed the following trends:

Construction Repos Rose Again
The 23 percent rise in construction repossessions recorded in the NQI continued sluggish conditions in the construction market. New home sales are weak and plans for future construction also remain at low levels.

The Commerce Department said December new home sales fell below November figures and were the weakest since March. Only 374,000 homes were sold last year, a 23 percent decline from a year earlier and the weakest year on record, dating back to 1963.

Meanwhile, the Architecture Billings Index, a leading economic indicator of construction activity, saw a negligible rise of less than one point in December from November billings.

Machine Tool Repos Decreased by 20 Percent – Repossessions of machine tool equipment in Q4 2009 dropped by 20 percent as compared to totals for the same quarter in 2008. The reduced level of activity seems to indicate that the manufacturing sector is showing signs of renewed vigor.

The Institute for Supply Management’s purchasing managers index showed that manufacturing climbed to 55.9% in December from 53.6% in November, marking five straight months of expansion and the strongest rate of activity since April 2006.

In their December report, AMT (The Association for Manufacturing Technology) and AMTDA (the American Machine Tool Distributors' Association) indicated that U.S. manufacturing technology consumption rose by nearly 23 percent compared to November 2009. However, consumption was down almost six percent from December 2008 and the year-to-date total for 2009 was down 60 percent compared to 2008.

Printing Equipment Repos Rose by More than 200 Percent in Q4 09 – Printing equipment repossessions continue to rise because that sector faces considerable pressure from the problems faced by many other business markets.

WhatTheyThink, an online media organization serving the printing and publishing industry, reported that December 2009 commercial printing shipments were down by almost seven percent compared to 2008. This decline was below the monthly average for 2009 and the total billing for the month was the lowest for a December since 1994.

Medical Equipment Repos Stayed Unchanged From Q4 08 – Data in the NQI showed repossessions of medical equipment in 2009 declined by just one percent from the same quarter of 2008. These figures match external data that shows the medical equipment sector in a holding pattern when it comes to equipment purchases.

According to Morningstar Inc., “hospitals continued to trim their inventory…during the first and second quarters of 2009, (which) pushed average days' inventory to its lowest levels in years, forcing hospitals to become more efficient operators.” This means most facilities have reduced inventory as much as possible, and are not yet ready to begin a spending phase.

NQI Graphics

About NQI
NQI reports on Nassau's internal repossession and orderly liquidation activity in a given quarter compared to the same quarter the previous year or to previous quarters in the same year. Readers should keep in mind that results must be viewed over several quarters to establish trends. Finance companies and industry analysts can also contract with Nassau to dig deeper into the numbers, determining the root causes for trends and researching specific equipment types. Companies can use their private reports created by Nassau to help mitigate risk in portfolios and/or provide useful economic indicators to their own clients.

Nassau Asset Management of Westbury, NY, has been providing full-service asset management, including asset recovery, collections, remarketing, plant liquidations, and appraisals for more than 25 years to the equipment finance industry. For more information, please visit or call 1-800-4.NASSAU.

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


Bank Beat---Florida's 4th, Louisiana 1st since 2002
Two New York City Bank Investors at Fault?

Old Southern Bank, Orlando, Florida, was closed Friday by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas, to assume all of the deposits of Old Southern Bank.

Investors reportedly lost $60 million when the bank was closed. Several of the bank executives themselves lost millions, including founder John G. Squires and former board member John Titenour, whose public boardroom feud reported in local newspapers last year ended their long friendship. Hundreds of other local Florida residents, estimated to be around 300, many of them retired, are among those who lost their total investment.

Old Southern had seven branches with 62 full time employees. Ne equity had a large fall from $35.5 million December 31,2008 to $9 million December 31, 2009; a net loss of $3.9 million 2008 to a net loss reported of $32.5 million 2009 ($10.9 construction and land development, $1.2 million non-farm non-residential, $1.1 1-4 family residential, almost $1 million in commercial and industrial loans). There was talk about selling off the loan portfolio and raising more cash, but the Tier 1 speaks for itself: 0.75%.

As of December 31, 2009, Old Southern Bank had approximately $315.6 million in total assets and $319.7 million in total deposits. Centennial Bank will pay the FDIC a premium of 1.00 percent to assume all of the deposits of Old Southern Bank.

The FDIC estimates that the cost to the Deposit Insurance Fund FDIF) will be $94.6 million. Fourth to fail this year bringing the total bank failures to 30 in less than three months.

Statewide Bank, Covington, Louisiana, was closed with Home Bank, Lafayette, Louisiana, to assume all of the deposits.

The last FDIC-insured institution closed in the state was The Farmers Bank & Trust of Cheneyville, Cheneyville, December 17, 2002.

Six branches with 65 full time employees established January 1, 1926. Bank equity dropped from $21 million December 31, 2008 to $13.5 million December 31, 2009. The previous year the bank lost $845,000 and year-end 2009 $9.5 million loss ($2.6 million commercial real estate and construction, $1.8 million 1-4 family residential, $665,000 non-farm non-residential). Tier 1 risk-based capital ratio 1.95%.

"Basically, the bank experienced significant losses in loans to real estate developers as well as in its commercial real estate loans," FDIC spokesman David Barr told NOLA.COM(Times-Picayune.) "That, coupled with the weak real estate market conditions, really put some stress on Statewide Bank."

Barr said that in 2006 and 2007 Statewide Bank also invested in private label mortgage backed securities, a type of asset-backed security where the cash flows are backed by the interest and principal payments of a set of mortgage loans. The bank incurred losses on those investments as well.

As of December 31, 2009, Statewide Bank had approximately $243.2 million in total assets and $208.8 million in total deposits. The FDIC and Home Bank entered into a loss-share transaction on $163.5 million of Statewide Bank's assets.

"This acquisition provides an ideal opportunity to expand our company into the Northshore (of Lake Pontchartrain) market," Home Bank CEO John W. Bordelon said in a press release. "We now serve three of the most economically vibrant markets in Louisiana, including our existing presence in Lafayette and Baton Rouge. We are very excited to bring our unique approach to community banking to the Northshore."

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $38.1 million

The Park Avenue Bank, New York, New York closed with Valley National Bank, Wayne, New Jersey, to assume all of the deposits.

Four branches with 66 full time employees founded November 6, 1987.Net equity had gone from a positive $8.9 million December 31, 2008 to up-side down, a negative $2.88 million; the bank had lost $6.5 million 2008 to a whopping $19.88 million loss 2009 (44.6 million to individuals, the rest in commercial real estate and non-farm residential). Tier 1 risk-based capital ratio 0.39%.

Lawsuits allege the real estate investor's undercapitalized Park Avenue Bank engaged in corporate waste and fraud:

As of December 31, 2009, The Park Avenue Bank had approximately $520.1 million in total assets and $494.5 million in total deposits. Valley National Bank will pay the FDIC a premium of 0.15 percent to assume all of the deposits of The Park Avenue Bank.

As part of this transaction, the FDIC will acquire a cash appreciation instrument. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $50.7 million.

LibertyPointe Bank, New York, New York closed with Valley National Bank, Wayne, New Jersey, to assume all of the deposits. Three branches, one in Manhattan and two in Brooklyn, with 37 full time employees founded October 3, 2005 net equity dropped from $15.6 million in December 31, 2008 to $4.7 million December 31, 2009. The bank had an $11.6 million loss in 2008 and $10.7 million loss ($3.2 million charge off commercial real estate and construction, $1.9 residential 1-4 family homes in 2009). Tier 1 risk-based capital ratio 2.99%

September, 2009: 92% of the bank's loans are related to real estate:

As of December 31, 2009, LibertyPointe Bank had approximately $209.7 million in total assets and $209.5 million in total deposits. Valley National Bank will pay the FDIC a premium of 0.15 percent to assume all of the deposits of LibertyPointe Bank. In addition to assuming all of the deposits, Valley National Bank agreed to purchase essentially all of the failed bank's assets.

The FDIC and Valley National Bank entered into a loss-share transaction on $181.5 million of LibertyPointe Bank's assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.8 million.

List of Bank Failures

Previous Columns:

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Michael Witt, Esq.)


Leasing Industry Help Wanted


Set Yourself Apart and Prosper

Interviewing highly skilled professionals
Motivated by success, rooted in integrity
Exclusive funding sources. Full Med/401(k)
Click Herefor more information.
Submit Resume To:

About the Company: With over 10 years in business, Strada Capital Corporation exists to provide customized commercial finance solutions through our unique customer-centric approach. Our boutique firm is steadfast in providing personal attention, swift turnaround and extraordinary customer experiences.
Visit us at


Please see our Job Wanted section for possible new employees.



Top Stories March 8-12

Here are the top ten stories opened by readers:

(1) LEAF Specialty, Columbia, SC – Update

(2) A Real Life "Sting"
by Bernie Boettigheimer, CLP

(3) Ex-Main Street Leasing Employees say “More than Salesmen Let Go”

(4) Leasing #102 by Mr. Terry Winders, CLP
Capital Lease vs. Loan Clarification

(5) Why PSFS Stopped Suing Brican America/Now 1,672 Dentists?
Leasing Industry hasn’t learned anything…
by Christopher Menkin

(6) Pictures from the Past
Bernie Boettingheimer, CLP

(Tie) (7) Ben Judah gets Max 25 Year Sentence Lease Scam

previous stories:

(Tie) (7) Sales make it Happen by Gerry Egan
"It may be time to ‘fire’ some vendors." Part II

(8) New Hires---Promotions

(9) Restaurant owners charged in check-kiting scheme,0,5638498.story

(10) From the Desk of Michael J. Witt, Esq.
Documentation” Fees, Semantics and a War Story


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


Leasing 102
Vendor Support Agreements

by Mr. Terry Winders, CLP

Usually when a vendor has a high margin and fells strongly about a poor credit risk they will offer recourse to encourage the lessor to fund the transaction. Recourse is a very complex issue and therefore requires proper documentation. There are many types of recourse such as; full recourse, limited recourse, dealer participating non recourse, and rent to lease/own programs, and remarketing agreements.

Full recourse is a term that means the seller of the equipment guarantees the performance of the lessee, and if the lessee defaults, is prepared to cover the loss of the funding source. Full recourse allows some transactions that would normally be turned down to be acceptable, but the recourse document needs to be carefully drafted. The agreement must cover many points to establish where, and when, the responsibilities of both parties are effective. For instance, when does the vendor cover the loss, and most important how much? Is the recourse to cover all recovery costs or just the net present value of the unpaid lease payments? If late charges are unpaid are they included in the payoff? Who pays for the recovery costs and if a replevin action is necessary who pays the attorney and court costs. Plus who makes the decision on when to pull the plug? In addition, once the equipment is in the possession of the vendor, and it takes some time to remarket, is the balance paid to the lessor upon re-possession or after it is remarketed. If after remarketing, how long is the remarketing going to take and should a time frame be attached?

Good communication about the scope of the recourse is necessary to make sure both parties to the agreement are fully aware of what part each plays, and who has the power to make decisions.

The days of self-help repossession are long gone and it takes a replevin action to get the legal right to go after the equipment. Some States still allow self help repossession but the risk it represents, if not done correctly, make it a very poor approach. If a Lessee voluntarily surrenders the equipment even then a legal statement, defining the lessee's request you take the equipment with acceptance of continuing responsibilities, needs to be signed to have the right to obtain recover a loss.

Collection costs have raised the bar on the value of recourse today, because if the lessee defaults, the expense of repossession and remarketing add so much to the balance that if it is done correctly, and explained completely, most vendors shy away from it. The equipment must carry a high resale value to make recourse work and a tight reign on delinquency is necessary to avoid letting time slip away. Done with poor documentation a disagreement will always arise with the vendor and it will destroy a good vendor relationship.

Recourse can work if the transaction is a direct finance lease for the lessor so the only consideration is the unpaid balance and the recover costs. If the transaction is a true lease with tax lease considerations then the pay off is larger and makes it almost impossible to come out clean if a default occurs. The best way to reduce the risk is with a security deposit or increased payments in the early years to reduce the balance as soon as possible.

Once in a while the vendor will offer “Limited Recourse” to cover the first two years, or one third of the lease term, to help the lessee prove his ability to pay the lease payments. This is a lessor decision but it still required that you properly document the agreement so if a default occurs, both parties understand their responsibility.

A popular recourse arrangement is one were the vendor receives a commission on each transaction but it is held in reserve against any losses. It is called a dealer participating non- recourse arrangement. A dollar amount, or a percentage of the outstanding portfolio, is assigned so that at the end of each year any funds in the account over the selected amount can be paid out to the vendor. The incentive to the vendor is that with few or no losses he gets the full commission. This puts the vendor in the decision tract on what limited credits are acceptable. If the losses are small then the reserve handles the loss and both the lessor and the vendor are covered. However, a proper document is required just like a full recourse agreement to establish timing and cost allocations.

Rent to lease/own programs place the vendors recourse on a short time frame and the lessee's payment on an elevated payment schedule to cover the risk. These are not done for poor credits but for start ups and lessees with short histories. An example is to subtract the wholesale value of the equipment after six months of use from the selling cost. Then create a rent period for six months at a lease payment that will reduce the balance to the wholesale value. The vendor is on full recourse for the six months and then a non-recourse finance or lease program for a longer period of time is offered at a much lower payment amount. The theory is that if the lessee could make the higher payments for six months then the lower payments should be OK and by that time a good equity has been placed into the equipment lowering the risk to the lessor.

The last effort for support is to ask the vendor for remarketing. If they agree an agreement should be drafted to spell out all of the issues such as: commissions paid for the remarketing effort, time in inventory, get ready charges, insurance, advertising costs, and storage. If the commission is not at an equal par with those paid for normal inventory you can expect your equipment to be stored and probably take a very long term to sell.

Vendor support is a good program under the correct set of circumstances but should not be thought of as a way of shifting the burden of risk. Lessor's are better equipped to make credit and equipment judgments and some times good intentions can lead to loss business because usually bad credits will mean a high degree of loss for someone and as my mentor in the business said; Life is to short to do business with companies of low character.

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

Previous Columns:



Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

April 12th until Noon on the 14th
Seattle, Washington
Hosted by Financial Pacific

$395.00 Paid in Advance for first person from company
$345 with each additional attendee 

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

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


Honolulu, Hawaii--Adopt-a-Dog

Two dogs---first:

“This is Sata and she is both beautiful and fabulous in every way! Sata is a two and ½-year old Ridgeback-Pit Bull mix. This beauty has a gorgeous coat that is smooth-as-silk to the touch. But, don’t think that Sata is just all looks… she is smart, fun, and well mannered, too! Sata is wonderful with people and loves to spend her time in the company of her favorite people and their friends. She is an energetic girl that loves to go for walks and play ball. But, when playtime is over, Sata is perfectly content just hanging out by the sides of her human buddies. Because Sata loves to play ball, being adopted by a family with older children, who would spend lots of ball-time with her, would be just what the doctor ordered!

“Sata is also a relatively quiet girl, so there is no need to worry about Sata making too much noise! Sata is already spayed, up-to-date on her shots, and ready for her new forever home! If you’d like to meet Sata, why not send our adoptions coordinator an email. Or, you can speed the adoption process along by filling out an online adoption application through the website.”

Please note: Because of this dogs breed mixture, US Army policy prevents her from being part of a US Army adoption. Please see the Military Pet Housing Policy, issued by the Department of the Army, recently revised on January 23, 2009, for further explanation.

*** Private adoption statement: The above dog is not directly affiliated with Hawaii Dog Foundation. The information was provided by the rescuer/owner and has not been verified. Please call the number listed above when inquiring about this dog. ***

To arrange to meet one of the dogs call the Adoptions line at (808) 256-6927 or email us:


“Rose is a beautiful, extremely friendly, low maintenance, loving companion! She is an older pit bull although she acts and feels half her age! Rose loves going for walks, short hikes, lounging at the beach, or is just content hanging out inside and snuggling on the couch with you! She is house-trained and wonderful with kids, adults, and other dogs (as seen in the video of her playing with a puppy).

“She is quiet, sweet, and loves to be around people but is never pushy or demanding. Rose is the perfect dog for someone who wants a loyal, adorable companion that is low-maintenance and does not ask for much- but truly appreciates all of the love and time you can give her!

“For more information on rose, feel free to send an email to or you can fill out an online adoption application to speed the adoption process along. She truly is a special dog and would be a perfect addition to any loving, safe home!

Please note: Because of this dogs breed mixture, US Army policy prevents her from being part of a US Army adoption. Please see the Military Pet Housing Policy, issued by the Department of the Army, recently revised on January 23, 2009, for further explanation.

To arrange to meet one of the dogs call the Adoptions line at (808) 256-6927 or email us:

Hawaii Dog Foundation
P.O. Box 30171
Honolulu, Hawaii 96820
Phone: 808-220-8165
Fax: 808-833-7762


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Today's Top Event in History

1848-"The Californian" reported gold was discovered along the American River at a sawmill owned by Capt. John A. Sutter. News was not widely believed in San Francisco.


This Day in American History

    1493 - Christopher Columbus returned to Spain, concluding his first voyage to the Western Hemisphere.
    1697 - A band of Abnaki Indians made a raid on Haverhill, Massachusetts. Twenty-seven women and children were killed in the raid. Less than a week from childbed, Hannah Duston was captured along with her infant daughter and a nurse, Mary Neff. Hannah's husband managed to escape with their seven other children. The baby was brutally killed, and Hannah and Mary were taken northward by their captors. After a march of 100 miles, the party paused at an island (afterward known as Penacook, or Dustin, Island) in the confluence of the Merrimack and Contoocook rivers above the site of present-day Concord, New Hampshire. There the two women were held and told that after a short journey to a further village they would be stripped and scourged. On the island they met Samuel Lennardson (or Leonardson), an English boy who had been captured more than a year earlier. During the night of March 30, Hannah and the boy secured hatchets and attacked their captors; 10 were killed, 9 of them by Hannah. The three captives then stole a canoe and escaped, but Hannah turned back and scalped the 10 corpses so as to have proof of the exploit. They reached Haverhill safely and on April 21 presented their story to the General Court in Boston, which awarded the sum of 25 pounds to Hannah Duston and half that to each of her companions.
    1744 - After signing the Second Family Compact with Spain, France joins the Spanish war against England. Known in the American colonies as King George’s War, and in Europe as the War of the Austrian Succession, this conflict will last until 1748. Hostilities between the French and the English in North America will continue to escalate.
    1767- Andrew Jackson Birthday, 7th president of the US (Mar 4, 1829-Mar 3, 1837) was born in a log cabin at Waxhaw, SC. Jackson was the first president since George Washington who had not attended college. He was a military hero in the War of 1812. His presidency reflected his democratic and egalitarian values. Died at Nashville, TN, June 8, 1845. His birthday is observed as a holiday in Tennessee.
    1781 - In the Battle of Guildford Courthouse, North Carolina, British General Cornwallis achieves a Pyrrhic victory over the American forces of General Greene and General Morgan. Cornwallis suffers such severe losses that he abandons the campaign to establish British control over the Carolinas. It is the largest, most hotly-contested action of the Revolutionary War's climactic Southern Campaign. Major General Nathanael Greene and his army of 4,400 Americans contested the British invasion of North Carolina at Guilford Courthouse. Lt. Gen. Charles, Earl Cornwallis, commanded the tough professional force of 1,900 British soldiers. Greene deployed his men into smaller groups to take advantage of the terrain. The Courthouse battle was fierce. The veteran British troops were severely crippled. Cornwallis lost a quarter of his army and almost a third of his officers. Greene lost only six percent of his men. With greatly diminished ranks and depleted supplies, Cornwallis withdrew to the coast, 200 miles away.
    1783- General George Washington addressed a meeting at Newburgh, NY, of Continental Army officers who were dissatisfied and rebellious for want of back pay, food, clothing and pensions. General Washington called for patience, opening his speech with the words: "I have grown gray in your service." Congress later acted to satisfy most of the demands. 
    1820- Maine became the 23rd state, prior to this date it was part of Massachusetts. The name of the state comes for its first use to distinguish the mainland from islands offshore. Maine was also thought to be named in honor of Henrietta Maria, Charles I of England's queen. She owned a province in France titled, Mayne. Augusta is the capital of Maine (not Georgia). As part of the Missouri Compromise between the North and the South, Maine is admitted into the Union as the 23rd state. Administered as a province of Massachusetts since 1647, the entrance of Maine as a free state was agreed to by Southern senators in exchange for the entrance of Missouri as a slave state. In 1604, French explorer Samuel de Champlain visited the coast of Maine and claimed it as part of the French province of Acadia. However, French attempts to settle Maine were thwarted when British forces under Sir Samuel Argall destroyed a colony on Mount Desert Island in 1613. Sir Ferdinando Gorges, a leading figure in the Plymouth Company, initiated British settlement in Maine after receiving a grant and royal charter, and upon Gorges' death in 1647 the Massachusetts Bay Colony claimed jurisdiction. Gorges' heirs disputed this claim until 1677, when Massachusetts agreed to purchase Gorges' original proprietary rights. As part of Massachusetts, Maine developed early fishing, lumbering, and shipbuilding industries and in 1820 was granted statehood. In the 19th century, the promise of jobs in the timber industry lured many French Canadians to Maine from the Canadian province of Quebec, which borders the state to the west. With 90 percent of Maine still covered by forests, Maine is known as the "Pine Tree State" and is the most sparsely populated state east of the Mississippi River.
    1827-Freedom's Journal, first Black newspaper, published by John Russwurm and Samuel Cornish
    1848-"The Californian" reported gold was discovered along the American River at a sawmill owned by Capt. John A. Sutter. News was not widely believed in San Francisco.
    1848-The San Francisco Californian of March 15, 1848, says: "We entertain several reasons why slavery should not be introduced here. First, it is wrong for it to exist anywhere. Second, not a single instance of precedence exists at present in the shape of physical bondage of our fellow men. Third, there is no excuse whatever for its introduction into this country (by virtue of climate or physical conditions). Fourth, Negroes have equal rights to life, liberty, health and happiness with the whites. Fifth, it is every individual's duty, to self and to society, to be occupied in useful employment sufficient to gain self-support. Sixth, it would be the greatest calamity that the power of the United States could inflict upon California. Seventh, we desire only a white population in California. Eighth, we left the slave states because we did not like to bring up a family in a miserable, can't-help-one's-self condition. Ninth, in conclusion we dearly love the 'Union,' but declare our positive preference for an independent condition of California to the establishment of any degree of slavery, or even the importation of free blacks." Ten days later the other local journal, The California Star, said editorially; "While we sincerely entertain these views, and value the union with the United States as highly as we should, the simple recognition of slavery here would be looked upon as a greater misfortune to the territory than though California had remained in its former state, or were at the present crisis, abandoned to its fate. * * We believe, though slavery could not be generally introduced, that its recognition would blast the prospects of the country. It would make it disreputable for the white man to labor for his bread, and it would thus drive off to other homes the only class of emigrants California wishes to see, the sober and industrious middle-class of society. We would, therefore, on the part of 90 per cent of the population of this country, most solemnly protest against the introducing of this blight upon the prosperity of the home of our adoption. We should look upon it as an unnecessary moral, intellectual and social curse to ourselves and posterity."
    1849-Gen. Smith, military commander of California, declared the Yerba Buena harbor to be poor because the seas are too rough and it is located on a peninsula with little water and few food supplies.
    1849-Gen. Smith, military commander of California, declared the Yerba Buena harbor to be poor because the seas are too rough and it is located on a peninsula with little water and few food supplies.
    1865- Battle of Averasboro NC
    1907-trumpet player Jimmy McPartland born, Chicago, Il
    1912-birthday of guitarist/folksinger Lightin' Hopkins, Centerville, TX His career spanned more than 30 years, even though he did not begin performing in earnest until middle age. Hopkins spent most of his life in the Houston area, recording his first hits, "Short Haired Woman" and "Baby Please Don't Go" for the local Gold Star label in 1947. Texas blues fell from favor in the mid-1950s, and Hopkins was not heard from again until 1959 when he began playing folk and blues festivals. Lightnin' Hopkins's last performance was at Carnegie Hall in 1979. He died of cancer in 1982.
    1913-the first small claims court established for small debtors, was authorized by Kansas, to deal with cases involving not more than $20. Plaintiffs and defendants appeared without legal representation. Judges served without fee, pay, or award and were not required to be lawyers. Appeals could be take to the district court.
    1916 –Trumpet player/bandleader Harry James birthday
    1930- USS Constitution (Old Ironsides) floated out to become a national shrine.
    1933-Birthday of Ruth Bader Ginsburg, U.S. Supreme Court judge appointed 1992, lifelong advocate of women's rights. She won five of the six cases that she argued before the Supreme Court, establishing the unconstitutionality of unequal treatment for men and women. She was the editor of the Harvard Law Review. Ginsburg graduated first in her class of 1959, but she was unable to find a job in a law firm; neither mothers nor Jews were being hired. She eventually found employment as a clerk with a federal district judge in New York with the proviso that a male appointee would be waiting when she failed. She was the first female tenured professor at Columbia University and former director of the Women's Rights Project of the ACLU. President Bill Clinton nominated Ginsburg to the Supreme Court on June 15, 1993, and the Senate overwhelmingly (96—3) approved her nomination. She took the oath of office on August 10, 1993
    1937-the first birth control clinic run by a state government was opened in Raleigh, NC, by the state board of health, including a program setting up contraceptive clinics for poor married women in local maternity and child health services.
    1937-the first blood bank to preserve blood by refrigeration for future use in transfusions was established by the Cook County Hospital, Chicago, IL.,
    1941- Mike Love of the Beach Boys was born in Los Angeles. Love is a cousin of the three Wilson Brothers - Brian, Carl and Dennis. With their friend, Al Jardine, they formed a high school group which played under such names as the Pendletones, Kenny and the Cadets and Carl and the Passions. Mike Love and Brian Wilson wrote "Surfin'," which was a California hit in 1961 for the group, now called the Beach Boys. Murray Wilson, the father of Brian, Dennis and Carl, got the Beach Boys a contract with Capitol Records. Their hits began - "Surfin' Safari," "Surfin' USA" and "Surfer Girl." These were the songs that launched the surf music fad. They went to University High School, as I did, played in some of their pick-up bands, and yes, they really were surfers, who got up at 5am to go surfing before going to school—before the days of wet suits, too.
    1941 - the most severe blizzard in modern history struck North Dakota and Minnesota. The blizzard hit on a Saturday night while many were traveling and resulted in the tragic loss of 71 lives. Winds gusted to 75 mph at Duluth, Minnesota and to 85 mph at Grand Forks, North Dakota. Snow drifts reached 12 feet in north central Minnesota.
    1944-Sly Stone ( Sylvester Stewart) singer, musician born Dallas, Texas
    1945--HERRERA, SILVESTRE S.  Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company E, 142d Infantry, 36th Infantry Division. Place and date: Near Mertzwiller, France, 15 March 1945. Entered service at: Phoenix, Ariz. Birth: El Paso, Tex. G.O. No.: 75, 5 September 1945. Citation: He advanced with a platoon along a wooded road until stopped by heavy enemy machinegun fire. As the rest of the unit took cover, he made a 1-man frontal assault on a strongpoint and captured 8 enemy soldiers. When the platoon resumed its advance and was subjected to fire from a second emplacement beyond an extensive minefield, Pvt. Herrera again moved forward, disregarding the danger of exploding mines, to attack the position. He stepped on a mine and had both feet severed but, despite intense pain and unchecked loss of blood, he pinned down the enemy with accurate rifle fire while a friendly squad captured the enemy gun by skirting the minefield and rushing in from the flank. The magnificent courage, extraordinary heroism, and willing self-sacrifice displayed by Pvt. Herrera resulted in the capture of 2 enemy strongpoints and the taking of 8 prisoners.
    1946-Nat “King” Cole records “Route 66” written by Bobby Troupe.
    1947-Ensign John W. Lee of Indianapolis, IN was commission an officer, becoming the first in the U.S. Navy. He was assigned to the U.S. S. Kearsarge.
    1948- Parcel Post Air Service between the United States and 21 countries in Europe and Africa began. Service late in the year began to South America and then to the Pacific.
    1954---Top Hits
Make Love to Me! - Jo Stafford
I Get So Lonely - The Four Knights
Answer Me, My Love - Nat ‘King' Cole
Slowly - Webb Pierce
    1955- Fats Domino records "Ain't It a Shame" which will top the US R&B standings and reach #10 on the Pop chart by July. Pat Boone's cover version, "Ain't That a Shame" would rise to #1 on the Pop chart the same month.
    1955-Colonel Tom Parker becomes Elvis Presley's manager. Parker's previous show-business experience included managing country stars Hank Snow, Eddy Arnold and Gene Autry. Parker manages Presley all his life and after his death.
    1956 - The musical, "My Fair Lady", opened on Broadway. The show ran for 6-1/2 years before 2,717 audiences. It became, thanks to Rex Harrison and an outstanding cast, the longest-running musical to that time.
    1957-Caorl Heiss of Ozone Park, Queens , New York City won her first National Women's figure skating championship at Berkeley, CA: her second and third in 1958 and 1959; and her fourth consecutive title on January 29, 1960k,at Seattle, WA.. She won again.
    1958--- Elvis Presley performs his last concert before leaving for the Army, a show at Memphis' Russwood Park. Aside from two benefit shows in 1961, this would be the last Presley concert until 1969.
    1959-- The musical, No Strings, opened on Broadway at the 54th Street Theatre. Richard Kiley and Diahann Carroll starred in the show. Also featured was the show´s composer in an acting role, singing his own lyrics. The composer was Richard Rodgers.
    1960- the Key Largo Coral Reef Preserve, an area 21 miles long and 3.5 wine in the Atlantic Ocean was made an Undersea park by proclamation of President Dwight David Eisenhower. This wildlife refuse contains 40 of the 52 known coral species.
    1962---Top Hits
Hey! Baby - Bruce Channel
Midnight in Moscow - Kenny Ball & His Jazzmen
Don't Break the Heart that Loves You - Connie Francis
Misery Loves Company - Porter Wagoner
    1966-Winners of the eighth annual Grammy awards for 1965 are announced. Record of the Year is "A Taste of Honey" by Herb Albert and the Tijuana Brass. Album of the year is Frank Sinatra's "September of My Years." Song of the Year is "The Shadow of Your Smile" by Paul Francis Webster and Johnny Mandel.
    1964- My Fair Lady, by Lerner and Loewe, opened on Broadway. It ran for 6-1/2 years before 2,717 audiences. It became, thanks to Rex Harrison and an outstanding cast, the longest-running musical to that time.
    1965- Elvis Presley begins filming his 19th movie, Harum Scarum, in Los Angeles.
    1967-SARGENT, RUPPERT L.  Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company B, 4th Battalion, 9th Infantry, 25th Infantry Division. Place and date: Hau Nghia Province, Republic of Vietnam, 15 March 1967. Entered service at: Richmond, Va. Born: 6 January 1938, Hampton, Va. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. While leading a platoon of Company B, 1st Lt. Sargent was investigating a reported Viet Cong meeting house and weapons cache. A tunnel entrance which 1st Lt. Sargent observed was booby trapped. He tried to destroy the booby trap and blow the cover from the tunnel using hand grenades, but this attempt was not successful. He and his demolition man moved in to destroy the booby trap and cover which flushed a Viet Cong soldier from the tunnel, who was immediately killed by the nearby platoon sergeant. 1st Lt. Sargent, the platoon sergeant, and a forward observer moved toward the tunnel entrance. As they approached, another Viet Cong emerged and threw 2 hand grenades that landed in the midst of the group. 1st Lt. Sargent fired 3 shots at the enemy then turned and unhesitatingly threw himself over the 2 grenades. He was mortally wounded, and his 2 companions were lightly wounded when the grenades exploded. By his courageous and selfless act of exceptional heroism, he saved the lives of the platoon sergeant and forward observer and prevented the injury or death of several other nearby comrades. 1st Lt. Sargent's actions were in keeping with the highest traditions of the military services and reflect great credit upon himself and the U.S. Army.
    1968 - "LIFE" magazine called Jimi Hendrix, “the most spectacular guitarist in the world.”
    1968-Blood, Sweat and Tears opened at the S.F. Avalon Ballroom.
    1970---Top Hits
Bridge Over Troubled Water - Simon & Garfunkel
Travelin' Band/Who'll Stop the Rain - Creedence Clearwater Revival
The Rapper - The Jaggerz
It's Just a Matter of Time - Sonny James
    1971 - CBS-TV announces it will cancel The Ed Sullivan Show, then the longest-running TV show in history, after 23 years.
    1972-Singer Robert John scores with a remake of the Tokens' Number One hit "The Lion Sleeps Tonight." John's version goes Top Fifteen and earns him a gold record
    1972-Los Angeles Radio station KHJ is raided by L.A. police after calls from listeners who feared there'd been a revolution at the station from 6:00 to 7:30 in the morning. DJ Robert W. Morgan had played Donny Osmond's "Puppy Love" over and over. The police left without making any arrests.
    1975- Olivia Newton-John enjoyed her second US #1 album with "Have You Ever Been Mellow".
    1977- “Eight is Enough” premiers on TV. This one-hour comedy-drama was set in Sacramento and starred Dick Van Patten as Tom Bradford, a columnist for a local paper and a widower with eight children. Diana Hyland played his wife Joan; she died from cancer after filming five shows. The children were played by Grant Goodeve, Lani O'Grady, Laurie Walters, Susan Richardson, Dianne Kay, Connie Needham, Willie Aames and Adam Rich. In the fall of 1977 Betty Buckley joined the cast as tutor Abby Abbott, who later married Tom. Most of the cast was reunited for Tom's 50th birthday on "Eight Is Enough: A Family Reunion" shown on Oct 18, 1987.
    1977-“Three's Company” appears on TV. This half-hour comedy featured two girls and a guy sharing an apartment. In order for the landlord to go along with the living arrangements, Jack Tripper, played by John Ritter, had to pretend he was gay. Cast included Joyce DeWitt, Suzanne Somers, Norman Fell, Audra Findley, Richard Kline, Don Knotts and Priscilla Barnes. The last telecast aired on Sept 18, 1984.
    1978---Top Hits
(Love Is) Thicker Than Water - Andy Gibb
Night Fever - Bee Gees
Lay Down Sally - Eric Clapton
Mamas Don't Let Your Babies Grow Up to Be Cowboys - Waylon & Willie
    1978-"American Hot Wax," a film about a week in the life of pioneer rock & roll disc jockey Alan Freed, premieres in New York. The soundtrack features Jackie Wilson, Buddy Holly, the Moonglows, Drifters, Spaniels, Cadillacs, Zodiacs and others.
    1981-the National Football League prohibited the use of any sticky substances on the body uniform or equipment of any player. The rules change was largely aimed a the defensive unit of the Los Angeles Raiders, winners of the 1981 Super Bowl, and in particular at LA defensive back Lester Hayes, who coated his arms and chest with Stickum and intercepted 13 passes during the 1980 season.
    1984- Severe thunderstorms in Arkansas produced 2 violent (F4) tornadoes. The first tornado tracked 48 miles through Van Buren, Cleburne, and Independence counties. 2 people were killed and 13 were injured. 63 homes and 22 mobile homes were destroyed. The tornado lifted the highway 16 bridge and threw it into Greers Ferry Lake. The bridge was 1/4 mile long and had a large steel superstructure. The second tornado tore through Jackson and Poinsett counties with 5 people killed and 12 injured
    1985- “Mr. Belvedere” premiers on TV. A sitcom about a sarcastic, talented, wise British housekeeper and his love-hate relationship with a Pittsburgh family. It starred Christopher Hewett as Lynn Belvedere, former baseball player Bob Uecker as his employer/antagonist sportswriter George Owens, Ilene Graff as George's wife Marsha, a law student, Rob Stone as Kevin, Tracy Wells as Heather and Brice Beckham as mischievous Wesley. At the end of each episode, Mr. Belvedere narrated the day's lesson as he wrote in his journal, and ended the show on a funny note. The last telecast aired July 8, 1990.
    1986---Top Hits
Sara - Starship
These Dreams - Heart
Secret Lovers - Atlantic Starr
I Could Get Used to You - Exile
    1987-Bryan Adams' "Heat of the Night" becomes the first commercially released cassette single, or cassingle, in the U.S.
    1987 - The place: Orlando, Florida. The golf course: the Arnold Palmer-designed Bay Hill layout. The tournament: the Bay Hill Classic. Don Pooley showed the golf world what a true million-dollar swing looked like, as he made a hole in one during the final round. The tournament sponsor had offered a million dollars to anyone making an ace. Pooley didn't win the tourney, but won a lot more than anyone else.
    1987 - Andrew Lloyd Webber's "Starlight Express" opened on Broadway. This was the first ever roller-skating musical.
    1988- “The Wonder Years” premiere on TV. A coming-of-age tale set in suburbia in the 1960s and 1970s. This drama/comedy starred Fred Savage as Kevin Arnold, Josh Saviano as his best friend Paul and Danica McKellar as girlfriend Winnie. Kevin's dad was played by Dan Lauria, his homemaker mom by Alley Mills, his hippie sister by Olivia d'Abo and his bully brother by Jason Hervey. Narratator. Daniel Stern was the voice of the grown-up Kevin. The last episode ran Sept 1, 1993 but it remains popular in syndication.
    1988 - More than one hundred hours of continuous snow finally came to an end at Marquette MI, during which time the city was buried under 43 inches of snow. Unseasonably cold weather prevailed in the southeastern U.S., with forty-one cities reporting record low temperatures for the date.
    1989- The Rolling Stones sign a contract for $70 million -- the largest ever amount to that time -- for their upcoming US tour.
    1990 - Fifty-three cities reported record high temperatures for the date as readings warmed into the 70s and 80s from the Gulf coast to the Great Lakes Region. Charleston WV was the hot spot in the nation with a record high of 89 degrees. It was the fourth of five consecutive days with record warm temperatures for many cities in the eastern U.S. There were 283 daily record highs reported in the central and eastern U.S. during between the 11th and the 15th of March.
    1993 - 69 daily low temperature records were broken over the eastern US as cold air persisted behind the "blizzard of '93". Elkins, West Virginia recorded 5 degrees below zero to break its old record by 15 degrees and New Orleans, Louisiana dropped to 31 degrees to break its old record by 9 degrees. Fort Myers, Florida shivered at 39 degrees.
    1994- .9 inches of snow on this day brought the seasonal snowfall total at Binghamton, New York to 123.2 inches -- the city's snowiest winter ever.
    1997-Dave Andreychuk of the New Jersey Devils became the 26 th player in the National Hockey League and the second in two days to score 500 regular-season goals. Andreychuk's goal helped the Devils beat the Washington Capitals, 3-2.
    1997-The University of North Carolina men's basketball team defeated Colorado, 73-56, in the second round of the NCAA tournament to give coach Dean Smith the 877 th victory of his career, one more than Adolph Rupp. Smith's win, his 63 rd in NCAA play, came in his 36 th season as a head coach.
    1999-Paul McCartney, Bruce Springsteen, Billy Joel, Dusty Springfield, the Staples Singers, Del Shannon, Curtis Mayfield and Beatles producer George Martin are among those inducted into the Rock and Roll Hall of Fame. Springfield died just 11 days before.
    2003--Many thousands of anti-war demonstrators marched in SF, Washington DC and around the world.
    2004 - The Rock And Roll Hall Of Fame inducts Bob Seger, George Harrison, The Dells, ZZ Top, Jackson Browne, Prince, and Traffic at their annual ceremony in New York City.
    2006 - Remnants of Fats Domino's three pianos are discovered and saved by the Louisiana State Museum after attempting to salvage his Ninth Ward home after Hurricane Katrina.
    2008 - The musical I Am Who I Am, based on the life of singer Teddy Pendergrass, opens in Chicago.


Winter Poem

Beware the ides of March

Men at some time are masters of their fates: 
The fault, dear Brutus, is not in our stars, 
But in ourselves, that we are underlings. 
But, for my own part, it was Greek to me. 
Think you I am no stronger than my sex, 
Being so father'd and so husbanded? 
These things are beyond all use, 
And I do fear them. 
Cowards die many times before their deaths; 
The valiant never taste of death but once. 
Of all the wonders that I yet have heard, 
It seems to me most strange that men should fear; 
Seeing that death, a necessary end, 
Will come when it will come. 

— Cæs. The ides of March are come. 
Sooth. Ay, Cæsar; but not gone. Act iii. Sc. 1. 

The Ides of March: In the Roman calendar the days of the month were not numbered sequentially. Instead, each month had three division days: kalends, nones and ides. Days were numbered from these divisions: e.g., IV Nones or III Ides. The ides occurred on the 15th of the month (or on the 13th in months that had less than 31 days). Julius Caesar was assassinated on this day in 44 BC. This system was used in Europe well into the Renaissance. When Shakespeare wrote "Beware the ides of March" in Julius Caesar his audience knew what he meant. Beware of what was to happen on March 15th




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