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Wednesday, March 2, 2011

Today's Equipment Leasing Headlines

  Clarification---Cell Phones
   Classified Ads---Credit/Legal
It's Come Back to Bite Balboa on the...
 Kauai Sunrise “Postcard” from Don Myerson
  NEFA Scottsdale Conference New Features
   Classified Ads---Help Wanted
    License Up-Date for Leasing in United States
     Loan/Lease Statute Up-Date
      GreatAmerica Gets 2.6 Times Tenth Term Securitization
       Allegiant Partners Purchases 2 Equipment Portfolios
        Sales Numbers Hit a High in Latest Credit Managers' Index--but...
         San Bernardino, California Adopt-a-Dog
News Briefs---
 Spread between bank deposit and loan rates still high
  Real Estate Property investment value triples to $24 billion
   Nordstrom's top execs get $7.6M in bonuses record sales year
    Retailer banks on brain fitness to expand stores
     Dancing With the Stars' Cast Without Stars

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

  You may have missed
    Sports Briefs---
     "Gimme that Wine"
      This Day in American History
        Daily Puzzle
           Weather, USA or specific area
            Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.


Clarification---Cell Phones

There should have been some clarification to the list of features available. The clarification was added to the article on line, but those for readers who may have missed it:

( points out some things in the Cell Phone story that are not fully correct and need explanation; certainly all cell phones, especially the digital telephones, work differently. The reason I think this is basically correct is I have personally used some of the features mentioned.  Kit Menkin)

Yes, #112 does not work in all parts of the world, just as a non-international telephone do not work in all parts of the world.  And some international telephones do not work in countries that do not support a specific telephone carrier. It is primarily the European emergency number. It does not work in the U.S. without an international telephone, although may work on digital phones, although many do not need this feature in the US, but may need overseas. It should be added: Internet access by your carrier may or may not be available overseas.

While certain cell phones cannot reproduce the sound required, many can.  In addition, new digital phones have difference sound devices, and some manufacturers allow you to start your car from your telephone with their model equipment with this feature, even over the telephone as you may have seen in ads.  I know the cellular unlock procedure works from my cell phone as have used it to open a Mercedes where the keys were locked in the car. That it does not work on all phones, most likely.

3370# will not give you 50% battery life, but it may give you time to make two or three important calls. It depends on the telephone model. Most phones are not set for the highest quality sound, and this brings up more power.  The point here is not how much time is left, but you will be able to make telephone calls if your cell telephone works in this manner, which may be very important at the time. Some cell phones also have this feature with a different number and most likely all digital telephones have a different code. Read the manual. Also many phones accept an “instant cell phone charge battery” that you can carry as a spare for such emergencies. Duracell makes one that provides up to 35 hours for an IPod or 295 minutes talk time on a cell phone:

Entering #06# does not work on all telephones, and the feature of finding a lost telephone certainly is remote so identifying it may not be important. Many digital telephones have this feature in another code.  Normally if a cell phone is found, a discoverer needs only to a call back.  That happened to me in New York when I inadvertently left my telephone in the Taxi Cab.  I got it back almost right away as they called Sue who was with me and had her own cell phone, which the party called as it was the last number I had called.

800-Free-411 of course does not count the time use of the telephone, and therefore is not fully free. Google and other programs have made yellow pages and telephone information numbers obsolete on digital telephones.  So how important this feature is a matter of the cell phone plan you have and the type of telephone device you use.

5 Things You Never Knew Your Cell Phone Could Do


Classified Ads---Credit/Legal

(These ads are “free” to those seeking employment
or looking to improve their position)

Dallas/Ft. Worth, Texas
Proven results Credit Manager-Strong vendor/broker/funding Learned from BEST - Schiell & Galtelli, Centerpoint, Affiliated, Heritage Pacific.
Phoenix, AZ (will relocate)
Seasoned Credit/Operations Executive w/exp. in vendor, broker & direct origination, portfolio acquisition, collection, remarketing & business development.  Available immediately. | Resume

Seasoned Ops, Broker Development, Credit, Legal, Strategy, P & L Management detail oriented team player seeks position with Small ticket direct lender. Established remote office.

San Diego , CA
Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate.
Cell Phone: 760-533-4058;

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


Its Come Back to Bite Balboa on the...

(Ecclesia Christian Fellowship pastor Rev. Joshua Beckley
whose church was among the 30 defrauded in the Southland
says the kiosks were nothing more than a low-end monitor
and printer that rarely worked.
Photograph: Black Voice News, Riverside, California.)

After two years, and the conviction and sentencing of two who committed the fraud against the churches, the California Attorney General's office under Kamala Harris has revived the complaint against Balboa Capital Corp., Irvine, California and United Leasing Associates of America, Wisconsin, Also named in the suit were company representatives Wayne and Tanya Wilson, of Rancho Cucamonga. Not named are Willie Perkins and Michael Morris, of Maryland, officers who are both serving prison time in connection with the scheme in other states.

The kiosks were to be in the church foyer, allowing members to access church information and community activities. The Kiosk monthly payment was to work out being “free,” being supported by advertisements. The churches relied on Television Broadcasting Online, after all they were backed by the leasing company as being legitimate, they told California AG Kamala Harris.

"I think much of the Leasing Cos. problems with under-valued, over sold equipment stems from an unwillingness to underwrite the credits they are making, not with the borrower, they have credit scoring for that--- But with the Vendor, “said Tom McCurnin, Barton, Klugman & Oetting, Los Angeles, California.” Often the Vendors are not pre-qualified, their business model is not vetted, or makes no sense.

"The equipment lessors would rather rely upon a hell and high water clause and offload the investigation task to their borrower.

"This has come back around and bit them in the ass on several occasions."

California AG Kamala D. Harris is seeking $803,100 in restitution and civil penalties in California.

Fifty African-American churches on the East Coast, as well as 300 churches in Maryland, Michigan, Indiana, Ohio Wisconsin, and Texas signed off on a $40,000, 48-month contract with Balboa Capital Corp. Irvine, California, United Leasing Associates of America of Brookfield, Wisconsin and Chesapeake Industrial Leasing of Baltimore as well as other leasing companies.

The Michigan and Washington, D.C. were successful in their suits. California has been slow. Leasing News first wrote this story in 2006 when the claim first started that 33 African American churches in California were persuaded to enter into leases for the kiosks. Twenty-four of the churches are located in Los Angeles County, five in Riverside County and four in San Bernardino County.


Kauai Sunrise “Postcard” from Don Myerson

This photograph was taken by Don Myerson of BSB Leasing with his cell phone. He lives a half year in Hawaii and a half-year in Colorado.

Don and his family live near the Grand Hyatt Hotel, Koloa, Kauai, on Poipui Beach, where the photo was taken. He jogs past the Hyatt every morning on his multi-mile run on a path following the beach. He adds it was 79 degrees the other day.


NEFA Scottsdale Conference New Features

Susan Carol

At the upcoming NEFA National Equipment Finance Summit, in Scottsdale, Arizona, on March 17-19, 2011, well known leasing and equipment finance industry public relations expert, Susan Carol, will address how today's commercial finance businesses can cash on in the exploding business potential of Facebook, LinkedIn and other social media technologies.

Gerry Egan

"Social Media's not just for kids, anymore! Business people can connect with more than just classmates, they can connect with cash if they know how to use social media effectively, “NEFA Executive Director Gerry Egan said.

She has operating her public relations company for 21 years with leasing companies among her clients, formerly a PR manager for MCI and the original Equipment Leasing and Finance Association from 1986-1988, when she founded her own company.

Stuart Papavassiliou

Stuart Papavassiliou, senior editor of the Monitor will join Lisa Rafter of World Leasing News and Kit Menkin of in a session entitled Meet the Media designed to give summit attendees direct access to the editors of the leading industry media channels. John Semon of is unable to attend due to a scheduling conflict.

Papavassiliou said, "I'm delighted to join both Lisa and Kit in this session designed to give our readers a sense of how our respective media channels operate. While we cover the same 'beat' so to speak, this provides a great opportunity to discuss where each of us sees coverage of the industry is headed. I look forward to a spirited discussion on the workings of the publishing side of the equipment leasing and finance industry coupled with the opportunity to meet with our collective constituents."

Bruce Winter

Bruce Winter, a Broker/Lessor member and former Board Member of NEFA, owner of FSG Leasing, very well known and respected in the industry, will detail his 20 years of consecutive profitability including his actual financial statements---a leasing conference first!!!

David Weiner

NEFA member, David Wiener, one of the contributors to the Alta Report, will be giving an oral report to the one to be published in the spring by Equipment Leasing & Finance Foundation on “The Place of the Independent Lessor 2011”. He will be the key speaker on Friday, March 18th at the NEFA luncheon.

“Knowing the NEFA audience would be a prime beneficiary, I lobbied and obtained Foundation express permission to speak from the study even though it will be prior to the publish release,” he told Leasing News.

There is a lot going on, so time to register.




Leasing Industry Help Wanted

Credit-Treasury Manager
Riverside, California
Maintain relationships w/various lending partners,
source additional funds, for captive to major
distributor of buses. Excellent writing/speaking skills
A-Z Resources captive affliate to a major business distributor founded in 1975, 150 people, generating over $120 million in combined sales.

Please see our Job Wanted section for possible new employees.


License Up-Date for Leasing in United States

While there is a conception that equipment leasing is not licensed, it is not quite true. Most states have license requirements, and all have issues on usury, requiring a sales/use tax permit, corporation filing to do business in a state, as well as many states have personal property license requirements from the owner of the equipment.

It is true that there are no state or national associations that regulate the industry as banks and other financial institutions or accountants, attorneys, realtors, to name a few. The closest may be the Certified Leasing Professional Foundation where they are 200 individuals that have passed a test, an annual test, and abide by a set of rules and regulations.

In most states, banks are not required to have a leasing license as well as manufacturers. An expert on this who has won cases against company’s not licensed in California, notably CMC Commercial Credit, Tom McCurnin, Barton, Klugman & Oetting, Los Angeles, California told Leasing News: “A property owner can sell his property on credit without a license or without usury issues.  Its called the Time Price Doctrine or Time Price Differential.

“CIT on the other hand doesn't own the stuff and is therefore making a loan and is required to have a license. 

“A gray area might be for the leasing company to buy the stuff and have it shipped to them, and they, in turn re-ships to the customer.  May not be required to have a license.  Simple invoices and drop shipping probably would not pass muster.” .

In California Banks are not required to have a Financial Lender’s License. Although many follow the guidelines of only doing business with another party who has a Financial Lender’s License. Captive Lessors are required to have a license, and all those that I checked do, such as Dell, who also sells other products than the ones they manufacture.

And while there are financial institutions that also have a bank, such as CIT, they hold a license.

In California, those engaged in true leases, such as Mar Vista, Villa Park, California, do not need to be licensed, but everyone who is involved in “capital leases” with a bargain purchase option, particularly a dollar, are required to be licensed. Without it, they may not accept a commission, engage with a licensed financial institution, and may find their leases in court dismissed for lack of a license. While the fines are not very much, the clout comes in immediate suspension from doing business in California, and while a hearing may be required or filed by an attorney, they may not engage in business during this time.

“NO BROKERAGE COMMISSIONS TO UNLICENSED BROKERS. California Administrative Code Title 10 §1451.”

Commissions may not be paid to unlicensed brokers. There are companies who use other companies’ documents and therefore believe they do not need to be licensed. This may be accurate in dealing with a bank, but not with another licensed financial institution or financial institution out of state that is not licensed in California.

While the Department of Corporations does audit the licensees, about every three years, and are paid for time and travel for this requirement by the licensee, most legal enforcements are from complaints rather than a verification of every financial company who files a UCC in California or by other means, such as leasing association membership.

One of the purposes in the lists created by Leasing News was to record who has licenses and who does not. This lists are not complete as they are not solicited but come from the companies’ themselves. A requirement for the funder list is proving they are a funder of 50% of their transactions, and only after this is satisfied, are they listed.

Funders Looking for Broker business:

"Broker/Lessor" looking for broker business

Funder List “A”

Broker List “A”

Comprehensive personal property tax outsourcing services
We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do.

Click here to learn what our clients say about our service
Gary DiLillo, President 216-658-5618 or


Loan/Lease Statute Up-Date

This is a summary and should not be viewed as a legal interpretation or containing all the requirements. Consult an attorney with leasing experience is highly recommended.

Most states exempt banks. This is commercial business only.

Whether some states mix consumer and commercial loans today is not know, although current court cases are recognizing personal guarantees and proprietorships to fall under some consumer guidelines.

Arizona: All “advance fee loan brokers” must register annually with the state. Arizona Revised Statutes, sec. 06-1303-1310 (1996)

Registration process:

Alabama: A simple business, vocational, occupation license is required.

Alaska: Alaska Small Loan act does not distinguish between consumer and commercial loans, one of the reasons many leasing companies do not do business in this state. Requires a license on transactions under $25,000.

Arizona: Requires a state license not difficult to obtain to those who have applied to be on a Leasing News list.

Arkansas: All brokers of “a loan of money, a credit card or a line of credit” may not assess or collect an advance fee. In addition, all brokers must register with the Securities Commissioner, post a surety bond of $25.000 and have a net worth of $25,000. Arkansas Code Annotate sec. 23-39-401 (1995)

California: No person shall engage in the business of a finance lender or broker without obtaining a license from the Commissioner, unless a bank or conducting true “operating” leases. California Financial Code, Division 9, Chapters 1 and 3

Connecticut: Brokers of “unsecured loans” may not assess or collect an advance fee. Connecticut General Statues, sec. 369-616 (1997) A license to make small loans of under $15,000 is required. This is aimed at “retail buyers” and whether a capital lease or commercial entity is defined is not known at this time.

Delaware: License required for commercial lessors for “finance or small loan agencies.”

Florida: Brokers of a “loan of money, a credit card, line of credit or related guarantee, enhancement or collateral of any nature” may not assess or collect an advance fee. Florida Statues, Chapter 687.14 (1992)

Georgia: A broker of “loans of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee unless such fee is for “actual services necessary to apply for the loan.” Official Code of Georgia Annotated, sec. 7- 7-1 (1992)

Idaho: No fee may be collected unless a loan is actually made. Idaho Code, sec. 26-2501 (1992)

Illinois: Code , 815 ILCS 175/15-5.03 Under the Act, a ”loan broker” means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a)

Specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to “the” person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate.

“In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or evoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorneys fees.

This appears as standard language on most states.

Iowa: A broker of loans of “money or property” may not assess or collect an advance fee except for a “bona fide third-party fee” and a broker must obtain a bond or establish a trust account and file required documents with the Commissioner or Insurance. Iowa Code, sec. 535C (1992)

Kentucky: Brokers of “a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee. Kentucky Revised Statutes Annotated, sec. 367.380 (1992)

Louisiana: A broker of loans of “money or property…whether such agreement is styled as a loan, a lease or otherwise” must obtain a surety bond or establish a trust account in the amount of $25,000. A broker may not collect an advance fee but may collect an “advance expense deposit for commercial loans” only for actual expenses incurred in obtaining the loan. Louisiana Revised Statutes Annotated, sec. 9:3574 (1993); Louisiana Revised Statutes Annotated, Sec. 51:1910 (1992)

Personal Property Lessor License required.

Minnesota: Regulated Loans License. No person “shall engage in the business” of making loans not exceeding $100,000 without first obtaining license from Commerce Division. Violation is a misdemeanor and loan is void. This will apply to “capital leases.”

Mississippi: A broker or loans of money may not assess or collect an advance fee and can be fined up to $5,000 for each violation. Mississippi Code Annotated, sec. 81-19-17 (1997)

A license is required for conditional sales contracts.

Missouri: A broker of loans of “money or property” may not assess or collect an advance fee. Missouri Revised Statues, sec. 367 300 (1992)

Montana: A person who knowingly engages in the business of a sales finance company in Montana without a license can be punished by a fine of not more than $500 and/or imprisonment of not more than six months.

Nebraska: A broker of loans of money may not assess or collect an advance fee. Nebraska Revised Statutes, sec. 45-189 (1993) Installment sales license required except for state banks and trust and loan companies regulated by Nebraska or any other state or chartered by the United States.

Nevada: Requires license for each office or other place of business, considers capital lease as loan and “lending.”

New Hampshire: Requires small loan license, whether applies to Capital Leasing not known.

New Jersey: Brokers of “loans of money” may not assess or collect an advance fee. New Jersey Rev. Statutes, sec. 17:10B (1992)

New Mexico: Currently requires Brokers/Lessors to register for Licensing under the New Mexico Mortgage loan Company or Loan Broker Act with the Financial Institutions Division of the State of New Mexico. Banks with Brick and Mortar within the State of New Mexico are exempt. Prior to licensing applicants must submit the Following:
Articles of Incorporation Listing of all principals (including management) A full financial Package (to meet their minimum requirements of liquidity) Personal financial statements on all principals Disclosure of all current or past suits (civil or criminal)
Attach a corporate surety bond
Include a $400.00 registration fee renewable yearly

New York: Any advance payment or deposit must go into an escrow account until a transaction proceeds. License is required to make business and commercial loans less than $50,000.

North Carolina: A broker of “loans of money or property…whether such agreement is styled as a loan, a lease or otherwise” must obtain a surety bond or establish a trust account in the amount of $25,000 and obtain a license. North Carolina General Statutes, sec. 66-106 (1992) Lenders who advance more than $1 million annually, in aggregate, in NC are exempt.

North Dakota: Brokers may not accept an advance fee unless the broker is licensed.

North Dakota Century Code, 13-04. 1-09.1 (1993)

Ohio: Department of Commerce, Division of Financial Institutions (Certificate to engage in the business of a credit services organization in accordance with the provisions of Sections 4712.01 to 4712.14 of the revised code of Ohio, subject to all the provisions thereof and to the regulations of the division.) Ohio Department of Taxation requires a "Vendor's License" under provision 5739.17 of the Revised Code ( hereby authorized to sell tangible personal property and selected services at the retail location specified below.) This also makes the lessor responsible for all taxes with penalties for not doing so.

Ohio: No person shall engage in the business of lending amounts of $5,000 or less without a license.

South Carolina: A broker of “a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature” may not assess or collect an advance fee. (South Carolina Code Annotated, sec. 34-36-10 91992) A license is required for the “business of lending in the amounts of $7,500 or less” regarding consumers. Has won cases against finance for business involving individual guarantees.

Texas: Consult an attorney familiar with Texas finance and lending laws.

Vermont: Commercial lenders and sales finance companies must obtain a license. Does not apply to true leases and leases for security (finance leases.) Does apply to Equipment Finance Agreements.

Here is a 2006 Equipment Leasing and Finance Association forum list.
(It is not known if the list has been up-dated and is available for the public.)


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

GreatAmerica Gets 2.6 Times Tenth Term Securitization

(Cedar Rapids, IA) – GreatAmerica Leasing Corporation (“GreatAmerica”) announced that it completed its 10th term securitization in the amount of $362.4 Million. The notes were issued by GreatAmerica Leasing Receivables Funding, L.L.C., a GreatAmerica wholly owned subsidiary. The bond issue was characterized by strong investor demand with orders placed for 2.6 times the amount actually issued. The placement agents of the notes were Wells Fargo Securities, BofA Merrill Lynch, with SunTrust Robinson Humphrey acting as co-manager.

We are excited to see several new investors and at the same time honored to see so many repeat fixed income investors placing their trust in us again,” said Tony Golobic, GreatAmerica Chairman of the Board and Chief Executive Officer. “Our consistent ability to enter capital markets at an attractive price helps GreatAmerica continue to serve our customers and contributes to our record of 18 years of uninterrupted growth in originations.” This transaction brings the total inception-to-date ABS (Asset Backed Securitization) term transactions to approximately $2.5 billion for GreatAmerica.

About GreatAmerica
GreatAmerica Leasing Corporation was founded in Cedar Rapids, Iowa in 1992. GreatAmerica is a national commercial equipment finance company dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. GreatAmerica provides financing and consulting services in all fifty states and some U.S. Territories. GreatAmerica has a staff of over 325 employees with offices in Iowa, Minnesota, Missouri and Georgia.

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

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

Allegiant Partners Purchases Two Equipment Finance Portfolios

Allegiant Partners Incorporated recently completed two small ticket equipment leasing portfolio purchases for a total receivable balance of $5 million.

Chris Enbom, CEO, President NEFA

"Allegiant Partners continues to close small, relatively complex portfolio purchases. We have been able to quickly and efficiently evaluate, document and fund portfolio transactions involving independent leasing companies and bank lenders interested in selling loan positions at a discount," stated Chris Enbom, CEO of Allegiant Partners.

"We closed both transactions without legal or other expenses usually associated with portfolio purchases," added Mr. Enbom. "We continue to be on the lookout for unusual situations."

Allegiant Partners was established in 1998 as an independent equipment finance company. The company purchases equipment leases and loans of $30,000 to $275,000 from leasing syndication sources, purchasing portfolios and direct financing through its division First Star Capital.

Chris Enbom, CEO
Allegiant Partners Incorporated
P: (415) 451-4041 M: (415) 305-8850
900 Fourth Street, Suite 200 | San Rafael, CA 94901

John Kenny Receivables Management

End of Lease Negotiations & Enforcement
Fraud Investigation
Credit Investigations
Asset Searches
Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs John Kenny

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

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

Sales Numbers Hit a High in Latest Credit Managers' Index--but...

Combined manufacturing and Service Sectors chart

An impressive growth in sales pushed the number well into the 60s with a reading of 66.3—the highest since the recession started in 2008. Credit applications experienced the same growth, rising to 60.3 after having slipped to 58.6 in January. This number is also the highest since 2008, suggesting that companies still expect growth and are taking steps to get ready. The good news continued with dollars collected, which improved from 60.9 to 63.4. And, finally, there was good progress in the level of credit extended—an increase from 64.8 to 66.5.

These are the signs everyone has been waiting for, but they are not the signs of a fully recovered economy, observes Chris Kuehl, PhD, managing director of Armada Corporate Intelligence and NACM economic advisor.

The strongest competitor in a given market, the market leader, starts responding to anticipated demand with more capital investment, some hiring and additional marketing. That provokes the market challengers in that sector to respond in kind to maintain their edge. Right behind them are the market followers that also have to react to the moves of those in the dominant position. It is a chain reaction driven by the need to hang on to market share—a race that some companies are better positioned to enter. They are the ones that can wait for the recovery. Those that are not sitting on enough cash have no choice but to make investments and hope that the timing is right.

One of two things will happen to these companies. If the timing is right, the investment will pay off. The anticipated demand will manifest itself, and the cash flow will be there to handle the investment and credit requests. If the timing is off or if the company is forced to respond to the competition sooner than preferred, the debt soon becomes brutal and business failures ramp up. This is the signal sent by this month’s index. The two negative factors showing the biggest increase were bankruptcies (falling from 59.1 to 56) and accounts placed for collection (moving from 52.5 to 49.9). Other indicators deteriorated as well. In the end, the declines in the unfavorable factors dragged down the combined index and left the CMI flat for the month.

This part of the transition out of a recession can be the most brutal. Companies barely hanging on could survive if there is little additional pressure. Now with the competition starting to heat up, these struggling companies are left with poor options. They either just accept the loss of their market or they gamble on their ability to hang on. If they guess wrong, they get into trouble soon. It is now a matter of how patient creditors can be and the point where credit managers must really show their skill at reading businesses. If they restrict an account to reduce exposure, they strain the relationship and may lose that customer should it rebound. If they give too much and the company goes under anyway, they have lost a lot of money and could put their own company in some peril.

Full report:

About the National Association of Credit Management
The National Association of Credit Management (NACM), headquartered in Columbia, Maryland, supports approximately 17,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services, which improve the management of business credit and accounts receivable. NACM’s collective voice has influenced legislative results concerning commercial business and trade credit to our nation’s policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy.

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


San Bernardino, California -- Adopt-a-Dog

This is a gorgeous dog with a great soul and needs someone to be her pal


* Status: Available for Adoption
* Adoption Fee: 125.00
* Rescue ID: 1531
* General Color: Red/Golden/Orange/Chestnut with White
* Location: 92356
* Reaction to New People: Friendly

China will be here:
Pet Adoption Show
Saturday March 5th, 2011 12:30 PM until 04:30 PM
Location: Petco
See all of the animals attending this event.
PetCo - Redlands - Every Saturday
27580 W Lugonia Ave, Redlands, CA. from 12:30 Noon -4:30PM

Come and see several of the dogs/puppies and cats/kittens currently up for adoption at BARC! Please remember BARC is a non profit organization and all our animals greatly appreciate ANY donations given. Also any monetary donations and well as adoptions are TAX DEDUCTIBLE. Hope you can join us!”

951 845 1513

Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet

News Briefs----

Spread between bank deposit and loan rates still high

Real Estate Property investment value triples to $24 billion

Nordstrom's top execs get $7.6M in bonuses after record sales year

Retailer banks on brain fitness to expand stores

'Dancing With the Stars' Cast Without Stars

You May have Missed---

Google’s War on Content Farms


Sports Briefs----

The Huddle

Judge rules against NFL lockout funding


“Gimme that Wine”

Judging Napa Cabernet’s Class of 2007

Lane Tanner Pinot Noir -- a 30-year history

Wine exports up 25% over '09

Napa Valley farms go higher-tech

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in American History

    1776-Charleston, South Carolina, set up an independent government under a temporary local constitution that was to be in effect until an agreement with England could be reached. John Rutledge was chosen president on Marcy 17. The government, said to be the first independent government within the recognized borders of the colonies, successfully defended Charleston against the British army and fleet on June 28, 1776, thus freeing the South from attack for nearly three years.
    1776- Americans begin shelling British troops in Boston. On March 17, the British evacuated Boston after American forces seized and fortified Dorchester Heights on March 4. General Howe sailed for Halifax, Nova Scotia, to await reinforcements.
    1776 - The Battle of the Rice Boats. A group of boats containing rice are the target of a British attack on March 2, 1776. The Council of Safety reacts quickly, ordering the local militia to set boats on fire and drive the British away. The Inverness, loaded with rice and deerskins, is set on fire and cut loose, drifting into the brig Nelly. While some 500 Whigs from South Carolina join the 600 Georgia rebels, the two ships drift downstream, setting three more ships on fire. Royal Governor Wright, who has fled tot the relative safety of the British vessels barely escapes.
    1793-Birthday of Sam Houston, famed American patriot. Houston was a congressman (1823-27) and governor (1827-29) of Tennessee. He resigned his office as governor in 1829 and rejoined the Cherokee Indians (with whom he had lived for several years as a teenage runaway), who accepted him as a member of their tribe. Houston went to Texas in 1832 and became commander of the Texan army in the War for Texan Independence, which was secured when Houston routed the much larger Mexican forces led by Santa Ana, April 21,1836, at the Battle of San Jacinto. After Texas admission to the Union, Houston served as US senator and later as governor of the state. He was deposed in 1861 when he refused to swear allegiance to the Confederacy.
    1799 - Congress standardized US weights and measures.
1807-The African slave trade was prohibited after January 1,1808 by an act of Congress, which outlawed importation of slaves into any place within the jurisdiction of the U.S.
    1807 - The U.S. Congress passes an act to "prohibit the importation of slaves into any port or place within the jurisdiction of the United States...from any foreign kingdom, place, or country." The first shipload of African captives to North America arrived at Jamestown, Virginia, in August 1619, but for most of the 17th century, European indentured servants were far more numerous in the North American British colonies than were African slaves. However, after 1680, the flow of indentured servants sharply declined, leading to an explosion in the African slave trade. By the middle of the 18th century, slavery could be found in all 13 colonies and was at the core of the Southern colonies' agricultural economy. By the time of the American Revolution, the English importers alone had brought some three million captive Africans to the Americas. After the war, as slave labor was not a crucial element of the Northern economy, most Northern states passed legislation to abolish slavery. However, in the South, the invention of the cotton gin in 1793 made cotton a major industry and sharply increased the need for slave labor. Great Britain also banned the African slave trade in 1807, but the trade of African slaves to Brazil and Cuba continued until the 1860s. By 1865, some 12 million Africans had been shipped across the Atlantic Ocean to the Americas, and more than one million of these individuals had died from mistreatment during the voyage. In addition, an unknown number of Africans died in slave wars and forced marches directly resulting from the Western Hemisphere's demand for African slaves.
    1815--- To put an end to robberies by the Barbary pirates, the United States declares war on Algiers.
    1819- Territory of Arkansas organized . The eastern U.S. was slowly becoming urbanized, but the frontier, moving ever westward, was still the place for the vigorous outdoor activities associated with newly settled rural areas. Marksmanship was highly prized and involved such sports as squirrel shooting by four-man teams. On one occasion, a team shot 152 squirrels by nightfall and the other, 141. Considered a brutal sport was the rough-and tumble fight. There were no rules and the two contestants were free to bite off ears or gouge out eyes until a fighter gave up or was knocked unconscious. By the way squirrel shooting is still popular today in many regions.
    1819-The first immigration law enacted by Congress established rules and procedures for passenger ships brining immigrants to the U.S. The most t important procedure was the numerical registry of immigrations, which made it possible to compile accurate statistics on immigrations in later years.
    1828-Melissa Burton Coray born at Mersey, Ontario, Canada. At the age of 18 she accompanied her Mormon Battalion soldier husband, William Coray, on a 2,000-mile military march on foot from Council Bluffs, IA, to San Diego, CA, then 1,500 more miles across the Sierra Nevada Mountains and the Nevada desert to Salt Lake City, UT, the only woman to make the entire trip. On July 30, 1994, a mountain peak near Carson Pass was named for her, the 2nd peak in California to be named for a woman.
    1829-Birthday of Carl Schurz, American journalist, political reformer and army officer in Civil War. Born near Cologne, Germany, he died at New York, NY May 14,1906.
    1836- Texas adopted Declaration of Independence from Mexico.
    1846 - A great storm hit Virginia and the Carolinas. The storm caused half a million dollars damage, and in North Carolina drowned fifty families and a thousand cattle on Notts Island.''
    1850-First masquerade ball in San Francisco with 600 guests. The event was organized by Tiffany Shlain and in 1998 moved to the Palace of Fine Arts with 2,000 guests.
    1853- Territory of Washington organized after separating from Oregon Territory.
    1861-The US Congress creates Dakota and Nevada Territories out of the Nebraska & Utah territories. One of the many things leading up to the Civil War were territories and states being created that would become “free states” and thus the “slave states” would lose their leverage in Congress, and the fear that “slavery” would be abolished. On February 4, the Confederacy was formed and earlier in the year states started seeding from the Union. The creation of these territories was signed by President James Buchanan. Nevada Territory was formed from Utah Territory; Dakota Territory from Nebraska Territory. Abraham Lincoln would be inaugurated president in two days; Hannibal Hamlin was his vice-president.
    1867- Jesse James-gang attempts to rob bank in Savannah MO, 1 dead. The attempted robbery on a private bank occurred 2:30 pm. March 2, 1867 in Savannah, east of St. Joseph, Missouri in Andrew County. There were five men in the gang, four men dismounted and entered the bank. Judge McClain refused to be robbed and put up an admirable defense. During the attempt Judge John Mc Clain was shot but lived. No money was stolen.
    1877 - A United States electoral commission declared Rutherford B. Hayes president, the only American president to be elected this way. The original result had been too close to call, with several disputed ballots. The nation had never before faced a dispute over the results of a presidential election, although elections had been decided by congress several times due to electoral procedure results, but this was the first where a dispute was settled. A candidate needed 185 electoral votes to win and Samuel J. Tilden, the Democratic candidate, clearly had 184. In dispute were the 19 electoral votes of three states still under carpetbag rule—Florida, Louisiana, and South Carolina-plus one vote in Oregon. In Congress both parties agreed on January 29 to establish an electoral commission to decide the issue. The commission, with five members from each house of Congress and five members from the Supreme Court, was made up of eight Republicans and seven Democrats. All the commission’s decisions were to fall along party lines. On March 2, Congress accepted the commission’s decision, which awarded all the disputed votes to the Republican candidate Rutherford B. Hayes, who thus received 185 electoral votes to Tilden’s 184. The Republicans were accused of offering southern Democrats economic favors for their region if they supported Hayes’s claim. In any event, the new president showed a conciliatory attitude toward the South: the last Federal troops were withdrawn and there was no further effort to protect the rights of blacks. Reconstruction was over.
    1888-The Grand Fountain Savings Bank, also known as the True Reformers Savings Bank, was chartered. It was the first bank for African-Americans operated by African-Americans. It began operations on April 3, with a paid-up capital of $4,000. The first day’s deposits were $1,268.69. The board of directors was elected by the society of the United Order of True Reformers, a group founded by William W. Browne.

    1899-Mt.Ranier National Park established, located in the Cascade Mountains of Washington state, this is the fourth oldest national park.
    1904-Theodor Seuss Geisel birthday, the creator of The Cat in the Hat and How the Grinch Stole Christmas, was born at Springfield, MA. Known to children and parents as Dr. Seuss, his books have sold more than 200 million copies and have been translated into 20 languages. His career began with And to Think That I Saw It on Mulberry Street, which was turned down by 27 publishing houses before being published by Vanguard Press. His books included many messages, from environmental consciousness in The Lorax to the dangers of pacifism in Horton Hatches the Egg and Yertel the Turtle's thinly veiled references to Hitler as the title character. He was awarded a Pulitzer Prize in 1984 "for his contribution over nearly half a century to the education and enjoyment of America's children and their parents." He died Sept 24, 1991, at La Jolla, CA.
    1909-Melvin “Mel” Ott birthday, Baseball Hall of Fame outfielder born at Gretna, LA. Playing for the New York Giants, Ott hit 511 home runs, a National League record until Willie Mays surpassed it in 1966. Inducted into the Hall of Fame in 1951. Died at New Orleans, LA, Nov 21, 1958.
    1907 - After a crowded and contentious session, California Assembly members voted 58 to 19 to move the state caputal from Sacremento to Berkley. as a result of the vote on the bill, California voters will be given an apportunity to decide the question on January 1908.
    1912-drummer Red Saunders born, Memphis TN
    1914-Martin Ritt birthday, American film and television director born at New York, NY. His best-known films are Hud (1963), Sounder(1972), and Norma Rae(1979.) He is perhaps best know
for his innovative television drama’s in the 50’s and 60’s. During the 1950’s he was blacklisted by McCarthy’s anti-Communist crusade. Died December 8,1990, at Santa Monica, CA.
    1917 -- Congress passes the Jones Act making Puerto Rico a territory of the United States and makes the inhabitants U.S. citizens.
    1917-Desi Arnaz birthday. Born at Santiago, Cuba, as Desidero Alberto Arnaz y Acha III, to a wealthy family. The 1933 revolution sent them ( now improvished) to Miami, FL, and the young Arnaz sought a music career. Arnaz led his own band and introduced the conga line to America. He had several musical hits including “Babalu.” He moved into acting, meeting his future wife, Lucille Ball, at RKO. Ball and Arnaz created one of the great TV comedies, “ I Love Lucy,” 1951-1957) and started the innovative Desilu TV production company. Ball and Arnaz divorced in 1960. Arnaz died on December 2, 1986 at Del Mar, Ca.
    1923- Arthel “Doc” Watson birthday, singer, musician (Riding the Midnight Train, Then and Now), born Deep Gap, NC. He first gained notice in 1961 with an engagement at Gerde's Folk City in New York's Greenwich Village. And his reputation was solidified with an appearance at the 1963 Newport Folk Festival. Watson relied heavily on traditional material - songs such as "Tom Dooley" and "Shady Grove." He recorded for Folkways and Vanguard records in the '60s. In the early '70s, Doc Watson's career was revived by a guest appearance on the Nitty Gritty Dirt Band's three-album set, "Will the Circle Be Unbroken."
    1923-Orrin Keepnews, co-founder of Riverside Records, jazz writer and reviewer born New York City, NY.

    1924-Harmonica player Alexander “Papa George” Lightfoot born Natchez, MS died 1971 Campbell, MS
    1924---Eddie “Lockjaw” Davis birthday
Tough tenor Eddie "Lockjaw" Davis is a gutsy hard-driving swinger who displays raw lyricism and real energy in his playing. Admired by all his fellow musicians, he was for a while closely associated with the Count Basie band, but also formed small bands with fellow tenor player Johnny Griffin in the 60s and Roy Eldridge in the 70s.,,420939,00.html?artist=

    1925-Highway Numbers introduced. A joint board of state and federal highway officials created the first system of interstate highway numbering in the US. Standardized road signs identifying the routes were also introduced. Later the system would be improved with the use of odd and even numbers that distinguish between north-south and east-west routes.
    1927 - Raleigh, North Carolina was buried under 17.8 inches of snow in 24 hours to establish a record snowfall for the city. Nashville, North Carolina received 31 inches of snow.
    1931-Tom Wolfe birthday, author, journalist (The Bonfire of the Vanities, The Right Stuff), born Richmond, VA.
    1933-- The motion picture King Kong starring Fay Wray, had its world premiere in New York
    1934 -Birthday of Dottie Rambo, contemporary gospel singer and songwriter. She has authored such country gospel favorites as "In the Valley He Restoreth My Soul," "Build My Mansion Next Door to Jesus" and "I Just Came to Talk With You, Lord."
    1936-Andy Kirk Band records,” Walkin’ and Swingin’’ Decca 809.
    1942-musician Eddie Money born Brooklyn, NY
    1942-- The U.S. Department of War strongly recommended Ford Motor Company hire up to 15,000 women workers at its Willow Run factory outside Detroit that had, at the time, only 28 female employees. It was seen as a means to aid the war economy rather than as a women's rights measure.
    1943- Protected by American and Australian fighters, 137 American Flying Fortress and Liberator bombers attacked a Japanese convoy en route from its base at Rabaul to New Guinea today 1943. All the transports and four of the destroyers were sunk and 3,500 Japanese troops were drowned. Of the 150 Japanese aircraft involved in the fighting, 102 were shot down. Of the 150 Japanese aircraft involved in the fighting, 102 were shot down. The Battle of Bismarck Sea was a major victory for the Allies, ending any efforts by the Japanese to send reinforcements to New Guinea.
    1944- rock singer Lou Reed was born in Brooklyn, New York. He was lead singer and songwriter of the Velvet Underground in the late 1960s. The group's bleak outlook captured the attention of Andy Warhol, who made them a part of his "Exploding Plastic Inevitable" multi-media show, which toured the US and Canada in 1966. Lou Reed made a bitter departure from the Velvet Underground in 1970, living in seclusion for a couple of years. His solo career began in 1972, and his second album, "Transformer," was produced by David Bowie. From this LP, came Reed's only top-ten single, "Walk on the Wild Side." Reed's later albums ranged from commercial rock to grating instrumental noise. A live concert LP, "Rock 'n' Roll Animal," was certified gold in 1974.
    1948-Guitarist, Larry Carlton born, Torrence, Ca.
    1949 - Eddie Money (Edward Mahoney) is born in Brooklyn, N.Y. His biggest hit is the No. 4 song ``Take Me Home Tonight.''
    1949- The first automatic streetlight system in which the streetlights turned themselves on at dark is installed in New Milford, Connecticut, by the Connecticut Light and Power Company. Each streetlight contained an electronic device that contained a photoelectric cell capable of measuring outside light. By November of 1949, seven miles of New Milford’s roads were automatically lit at dusk by a total of 190 photoelectric streetlights. No longer would the proud men of New Milford be forced to don stilts in order to light their streetlamps.
    1950-Birthday of singer Karen Carpenter. She teamed with her pianist brother as the Carpenters who became a highly successful pop duo during the 1970s. KC died in 1983 from anorexia nervosa. The Carpenters had 19 hits including "Close to You," and "We've Only Just Begun." Her battle with the disease that led to her death has been the subject of several TV movies and documentaries.
    1951-The first All-Star Game of the National Basketball Association was played at the Boston Garden, Boston, MA, before a crowd of 10,094 patrons. The East team, coached by Joe Lapchick, defeated the West team, coached by John Kundla, by the score of 111-94.
    1951-George Wettling’s Jazz Band (Sullivan, Hall, Davison) cut “Collier’s Climb.”
    1955--Bo Diddley has his first recording session at Universal Recording Studio in Chicago, where he lays down "Bo Diddley", which will top the US R&B chart by the following June.
    1957 - Teenage heartthrob Tab Hunter’s song "Young Love" was number one in the U.S.
and stays there for the entire month.
    1957---Top Hits
Young Love - Tab Hunter
Teen-Age Crush - Tommy Sands
Butterfly - Charlie Gracie
There You Go - Johnny Cash
    1959- Miles Davis cuts "Kind of Blue" for Columbia. It is considered the number one jazz album best seller today. It was originally released as a Columbia Jazz Club Member alternative, and was considered advant guarde in its day.
March 2
    1960- Wilt Chamberlain (Philadelphia) sets NBA playoff record of 63 points.
    1962-Jon Bon Jovi ( real name John Bongiovi) singer, songwriter ("You Give Love a Bad Name"), born Sayreville, NJ. Bon Jovi's melodic heavy metal on such chart-toppers as "You Give Love a Bad Name" and "Livin' on a Prayer" made them America's hottest rock band in 1986. Albums such as "Slippery When Wet" and "New Jersey" were multi-million-sellers.
    1962-Wilt Chamberlain poured in 100 points, an NBA record, as the Philadelphia Warriors defeated the New York Knicks, 169-147, in Hershey, PA. Chamberlain made 36 field goals and a record 28 foul shots and set yet another record by scoring 59 points in the second half.
    1962 - Jon Bon Jovi (John Francis Bongiovi, Jr.), lead singer of the group Bon Jovi, is born in Perth Amboy New Jersey. He scores a solo No. 1 hit in 1990 with the million-selling ``Blaze of Glory,'' the theme song of the film ``Young Guns II.''
    1963- Chubby Checker hosts "The Limbo Party" at San Francisco's Cow Palace. His special guests include Marvin Gaye, the Four Seasons, the Crystals, Lou Christie, Dick & Dee Dee, Paul & Paula and Herb Albert & the Tijuana Brass.
    1963-The Four Seasons score their third consecutive Billboard #1 with "Walk like a Man".
    1963-The Cascades achieved their only Billboard Top 40 hit when "Rhythm of the Rain" topped out at #3.
    1964 - The Beatles "Twist and Shout" backed with "There's a Place" is released in the U.S. on Tollie Records, the fourth label to release a Beatle record in America. Also on this day, shooting began on The Beatles' first feature film A Hard Day's Night. The film was a black-and-white semi-fictional account of "a day in the life" of the Beatles, and included eight songs written specifically for the film. Richard Lester was director.
    1965---Top Hits
This Diamond Ring - Gary Lewis & The Playboys
My Girl - The Temptations
The Jolly Green Giant - The Kingsmen
I’ve Got a Tiger by the Tail - Buck Owens
    1966-Left wing Bobby Hull of the Chicago Blackhawks became the first NHL player to score 50 goals in a season twice when he scored his 50th goal of the 1965-66 season in a 5-4 win over the Detroit Red Wings.
    1966 --215,000 US soldiers in Vietnam.
    1967-Senator Robert Kennedy (D-New York) proposes a three-point plan to help end the war. The plan included suspension of the US bombing of North Vietnam and the gradual withdrawal of US and North Vietnamese troops from South Vietnam with replacement by an international force. Secretary of State Dean Rusk rejected Kennedy's proposal because he believed that the North Vietnamese would never agree to withdraw their troops.
    1967- Winners of the ninth annual Grammy Awards for 1966 are announced. Record of the Year is Frank Sinatra's "Stangers in the Night." "Sinatra, a Man and His Music" is tabbed Album of the Year and Song of the Year is John Lennon and Paul McCartney's "Michelle." Herb Alpert wins a Grammy for ``What Now My Love,'' Best Non-Jazz Instrumental. The Mamas & the Papas wins a Grammy for ``Monday Monday,'' Best Contemporary Group Performance.
    1968-Blue Cheer's "Summertime Blues" is released as is Simon & Garfunkel's "Scarborough Fair."
    1968-CUTINHA, NICHOLAS J. Medal of Honor
Rank and organization: Specialist Fourth Class, U.S. Army, Company C, 4th Battalion, 9th Infantry Regiment, 25th Infantry Division. Place and date: Near Gia Dinh, Republic of Vietnam, 2 March 1968. Entered service at: Coral Gables, Fla. Born: 13 January 1945, Fernandina Beach, Fla. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. While serving as a machine gunner with Company C, Sp4c. Cutinha accompanied his unit on a combat mission near Gia Dinh. Suddenly his company came under small arms, automatic weapons, mortar and rocket propelled grenade fire, from a battalion size enemy unit. During the initial hostile attack, communication with the battalion was lost and the company commander and numerous members of the company became casualties. When Sp4c. Cutinha observed that his company was pinned down and disorganized, he moved to the front with complete disregard for his safety, firing his machine gun at the charging enemy. As he moved forward he drew fire on his own position and was seriously wounded in the leg. As the hostile fire intensified and half of the company was killed or wounded, Sp4c. Cutinha assumed command of all the survivors in his area and initiated a withdrawal while providing covering fire for the evacuation of the wounded. He killed several enemy soldiers but sustained another leg wound when his machine gun was destroyed by incoming rounds. Undaunted, he crawled through a hail of enemy fire to an operable machine gun in order to continue the defense of his injured comrades who were being administered medical treatment. Sp4c. Cutinha maintained this position, refused assistance, and provided defensive fire for his comrades until he fell mortally wounded. He was solely responsible for killing 15 enemy soldiers while saving the lives of at least 9 members of his own unit. Sp4c. Cutinha's gallantry and extraordinary heroism were in keeping with the highest traditions of the military service and reflect great credit upon himself, his unit, and the U.S. Army.
    1969-Phil Esposito, center of the Boston Bruins, became the first player in National Hockey League history to score 100 points in a season when he scored a goal in Boston’s 4-0 victory of the Pittsburgh Penguins.
    1969-At the 11th Grammy Awards, Glen Campbell is presented with Album Of The Year honors for "By The Time I Get To Phoenix" and Simon and Garfunkel's "Mrs. Robinson" is named Record Of The Year. Jose Feliciano is dubbed Best New Artist and the Bobby Russell composition "Little Green Apples" is given the nod as Song Of The Year. Mason Williams won Best Instrumental Performance for "Classical Gas" and Judy Collins takes home a statue for Best Folk Performance for "Both Sides Now".
    1972-Pioneer 10: This unmanned probe began a journey on which it passed and photographed Jupiter and its moons, 620 million miles from Earth, in December 1973. It crossed the orbit of Pluto, and then in 1983 become the first known Earth object to leave our solar system. On Sept 22, 1987 Pioneer 10 reached another space milestone at 4:19 PM, when it reached a distance 50 times farther from the sun than the sun is from Earth. It was also the first spacecraft to carry a message intended to be read by living beings elsewhere in the universe. Bolted to the probe’s exterior wall was a gold-anodized plaque, six by nine inches in area, that carried a number of illustrations: drawings of a human man and woman, a star map marked with the location of the sun, and a second map showing the flight path of Pioneer 10. The message was designed by astronomer Carl Sagan.
    1973--- Women began pilot /training for the U.S. Navy. First women received their wings February 18, 1975.
    1973---Top Hits
Killing Me Softly with His Song - Roberta Flack
Dueling Banjos - Eric Weissberg & Steve Mandell
Could It Be I’m Falling in Love - Spinners
Rated "X" - Loretta Lynn
    1974 --A grand jury in Washington, D.C. concludes that President Nixon was indeed involved in the Watergate cover-up.
    1974--Stevie Wonder takes home five Grammy Awards during ceremonies held at the Hollywood Palladium. The singer is honored for Album of the Year ("Innervisions"), Best Pop Vocal Performance ("You Are the Sunshine of My Life"), Best R&B Song ("Superstition"), Best R&B Vocal Performance ("Superstition") and Best Engineered Recording ("Innervisions"). Says Wonder on his five trips up to the podium: "I would like to thank you all for making this the sunshine of my life tonight." Gladys Knight & the Pips wins Grammys for ``Neither One of Us'' (Best Pop Vocal Performance By A Duo, Group or Chorus) and ``Midnight Train to Georgia.'' (best R&B vocal performance by a group). 1974 - Neil Diamond wins a Grammy for ``Jonathan Livingston Seagull,'' Best Film Soundtrack.
    1974-Terry Jacks, who had left The Poppy Family in 1970, had the top song in the US with "Season's In the Sun". The tune was originally written in French, titled "Le Moribund" ("The Dying Man") and recorded as an album cut by The Kingston Trio. It was recommended by Jacks to The Beach Boys, who did record it, but declined to release it. Their decision worked out well for Jacks, who sold over eleven and a half million copies of the record.
    1975- Roberta Flack won three Grammy Awards for "Killing Me Softly With His Song." Best new artist was Bette Midler.
    1978 - The coffin containing the body of actor-director Charlie Chaplin was stolen from a Swiss cemetery. Chaplin, who had died a year earlier, is considered one of the great geniuses of cinema. His body was recovered three months later, found in a cornfield 10 miles from the cemetery in Corsier-sur-Vevey, Switzerland, and the grave robbers were arrested. Chaplin's body was reburied in a vault surrounded by cement.
    1979 -Over 1,100 Christian organizations combined to form the Evangelical Council for Financial Accountability (ECFA). This oversight agency was created to demonstrate to the public that religious groups wanted to make themselves accountable for the funds they raise and spend.
    1979- The three-day Havana Jam, sponsored by CBS Records and the Cuban government, began in the 5,000-seat Karl Marx Auditorium in Havana. Among the acts appearing were Weather Report, Stephen Stills and Billy Joel. They were the first US pop artists to appear in Cuba in more than 20 years.
    1981---Top Hits
I Love a Rainy Night - Eddie Rabbitt
Woman - John Lennon
Keep on Loving You - REO Speedwagon
Southern Rains - Mel Tillis
    1983-- Sony and Philips introduced their jointly-developed compact disc system.
The CD is a digital medium in which sound waves are replicated as a series of binary numbers on the 12 cm disc. A laser in the CD player reads the digital information, which is then translated into sound. In contrast, vinyl records were traditionally recorded using analog technology, which replicates sound waves in the grooves of a record. The sound is transmitted through a needle vibrating in a groove via a cartridge to an amplifier. The major advantage of digital recording over analog is that it eliminates extraneous noise. In analog recording, a noise reduction mechanism is needed to minimize hisses and crackles. Within a decade of the CD's introduction, vinyl records had virtually disappeared from stores.
    1984 - After 30 years in business, the first McDonald’s franchise closed in Des Plaines, Illinois. A new drive-in McDonalds opened right across.
    1985 - For the first time, country singer, Gary Morris hit #1 on the country charts with "Baby Bye Bye" from his album, "Faded Blue".
    1986 - Queen Elizabeth signed the Australia bill, formally severing the last constitutional ties with Britain.
    1987 - Two sets of quintuplets were born, one set to Rosalind Helms in Peoria, Illinois, and another set to Robin Jenkins of Las Vegas, Nevada.
    1987 - United States Government officials said the median price for a new home topped $100,000 for the first time. The six-figure price of $110,700, was up from $94,600.
    1988-Grammy news: U2's "The Joshua Tree" wins Best Album, while Paul Simon's "Graceland" wins Best Record. Jody Watley wins Best New Artist.
    1989---Top Hits
Straight Up - Paula Abdul
Lost in Your Eyes - Debbie Gibson
The Lover in Me - Sheena Easton
I Sang Dixie - Dwight Yoakam
    1991- Andrew Lloyd Webber's "Aspects of Love" closed in New York after 377 performances. It was the shortest run of any Lloyd Webber musical on Broadway. "Aspects of Love" was said to be the most expensive play in Broadway history, costing about two million dollars to open and running up expenses of eight million by the time it closed. Little of the investment was recouped during the show's nearly 11-month run. The British production was much more successful, running for more than three years.
    1992- Second baseman Ryne Sandberg signed a four-year contract with the Chicago Cubs worth $28.4 million to become baseball’s highest paid player at the time, passing Bobby Bonilla of the New York Mets. The eight-time All-Star and nine-time Gold Glove winner retired in the middle of the 1994 season but retuned to the game ( at a far lower salary) in 1996.
    1996- Another east coast snowstorm deposited 4.6 inches of snow at Central Park in New York City to bring its seasonal snowfall total to 66.3 inches, breaking the old season snowfall record of 63.2 inches set in 1947-48.
    1998-In a surprise announcement, Apple Computer said it would stop producing its Newton handheld computer. The ill-fated Newton, which cost an estimated $500 million to develop over ten years, got off to a bad start when it debuted in 1993. The press panned its much ballyhooed handwriting recognition capability, and although later versions corrected some of the problems, the product never quite recovered from its traumatic entry into the marketplace. In the late 1990s, the Newton was overtaken by new products like 3Com's PalmPilot, which sold one million units during its first two years on the market, compared with 200,000 Newtons sold in five years.
    1999-Bob Dylan is the opening performer at the House Of Blues at the Mandalay Bay Resort in Las Vegas. During the encore, Dylan performs with U2's Bono for a rousing rendition of "Knockin' On Heaven's Door.
    2001 ---Yahoo stock (YHOO on NASDAQ) loses $2.75 to close at $21.69. On a split adjusted basis, it had traded as high as high as $237.50 on 03 January 2000, and as low as $1.32 on 22 September 1996.




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