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Three Small Ticket Specialists

Ft. Lauderdale, FL, Nashville, TN, and
Richmond, VA.
Click here for more information.

Monday, March 12, 2007


Correction: Serio Photograph
    Sales---Classified Ads
        Who are the 4 Leasing individuals Forbes Billionaire List?
    Le-Nature's creditors want funds from players in fraud
The Direction of Marlin Leasing: SEC Filing
    Help Wanted----Classified Ads
        Cartoon—Fish, Bird, and a Dog
    Top Stories---February 26-March 2
Leasing 102-by Mr. Terry Winders, CLP
“Reasons Why Customers Lease”
    Genesis Lease Limited Reports 4Q Results
        Mortgage Industry continues its slide
    Subprime mortgage troubles raise fears-Mike Freeman
The national debt: $8,800,000,000,000
    News Briefs---
        You May have Missed---
Sports Briefs---
    "Gimme that Wine"
        Calendar Events
Snapple Real Facts
    Today's Top Event in History
        This Day in American History
Winter Poem
        Daily Puzzle

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


Correction: Serio Photograph

In Friday's story that Lawrence J. Butler, chairman and CEO, Butler Capital Corporation, names Joseph P. Serio president and chief operating officer of the national business lending firm, we did not properly identify the picture, but had Larry Butler's name twice. We corrected it on line, but for the record, here are the two gentlemen with the correct identification below their photographs:

Joseph P. Serio, president, Butler Capital

Larry Butler, Chairman/CEO




Sales---Classified Ads

Sales: Bakersfield, CA
I have an extensive sales and management background in equipment leasing. My work history exhibits my major strength in small ticket equipment leasing.
Sales: Boston, MA
Middle market originator, construction/Trucks /
Trailers w/ 8 years in territory, looking for company / bank with competitive products
Sales: Compenhagen, Denmark
10 years of experience as VP Europe, Middle East and Africa for a US based Equipment Leasing Company. $500,000 plus w/ excellent connections European shipping lines/ maritime financing.
Click here .
Sales: Dallas, TX
17 years of experience in vendor sales. Solid book of business. Can hit the sales ground running in Dallas/Ft. Worth. Can Start ASAP
Sales: Denver CO
Experienced Equipment Leasing Broker looking for a in house leasing company. Can bring a book of business with me or develop new territory where needed.
Sales: Detroit MI
Motivated self-starter w/5 yrs sales exp. IT leasing. Excellent communicator w/strong negotiation/biz dev. skills. Six-sigma certified w/ Fortune 50 company/book of business.
Sales: East Central FL
20+ years experience in all areas of leasing; sales, credit, operations, syndication. Currently independent seeking position with direct middle market lender in regional capacity
Sales: Fresno CA
Account Exec/Manager. 7+ years Leasing Sales: underwriting/contract, complex transactions, hi-tech, government, direct & vendor leasing. Captive & syndicator environments. Expert deal closer. Will send resume.
Sales: Greensboro, NC
Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Sales: Henderson, NV
Formally trained in Credit, Collections, & Sales with regional bank. Seeking sales or sales management.
Over ten years
in SM, vendor and end user.
Sales: Kansas City, MO
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12
Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Sales: Los Angeles CA
5 years experience structuring off-balance sheet finance solutions on computer and medical equipment. Perform detailed competitive analysis and market research. I uncover leads and sell.
Sales: Midsouth, TX
Lease Veteran-25+ years, heavy Vendor experience looking for new opportunity in MidSouth/SE. Experience in leasing to major accounts in high- tech/computers/Golf/transportation.
Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Sales: Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker.334-281-5200
Sales: Nashua, NH
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
Sales: Newport Beach, CA
Direct sales rep. in the middle market w/22 years experience  various types of equipment. Leasing/ financing from medical equip. to
mfg. equip.. Strong closer.
Sales: North Carolina, Central
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base.
Sales: Philadelphia , PA
Seeking an open opportunity to advance in the automotive, commercial leasing & finance industry.........
Sales: Philadelphia, PA
25 years in Healthcare and seeking an opportunity to represent a lender for dental/medical funding in the Northeast to Mid-Atlantic states.
Sales: Portland, OR.
"Exp. In direct sales and sales mgmt.
I love Portland, but decent here jobs are few. Willing to be re-located, would like to work
for you.
Sales: Prairie Village, KS
Have substantial deal flow and database of broker referral sources. Generated and closed over $22M LY. Seeking exclusive relationship w/direct founder.

Currently employed Vendor Program “Hunter”, with complex program development experience. Also skilled at program management. Technology to yellow iron assets. Extensive national rolodex.

Sales: San Francisco Bay Area, CA
15+ yrs--mid mkt. $500M to $10.0MM. Seeking role w/ captive or global leasing firm. large book to bring with me! Debt, tax, 1st amendment, etc.
Sales: San Francisco Bay Area, CA
20 plus years experience in small ticket and middle market, mostly vendor driven business; specialist in manufacturing, hi-tech & medical. Excellent analytical and marketing skills.
South Central US
TX, OK, KS & AR Territory.
Equipment finance and leasing professional, 20 years experience. Top producer in middle to upper middle markets. Extensive customer base.

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

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



Who are the 4 Leasing individuals in the top Forbes Billionaire List?

First, there are only three, and they all three are related to International Lease Finance and AIG.

Mark Coombs is not in leasing but is a fund investor in Britain, owner of Ashmore.

More about him here:

About the three leasing industry billionaires:

In 1973, Steven Gonda, his father Leslie Gonda and Udvar-Hazy founded the airplane lessor International Lease Finance Corporation with $150,000 and a $1.7 million bank loan. The very first plane leased was a DC-10 to Aeromexico. The company grew and was especially successful given that deregulated airlines were now looking for cheap leases. In 1983, the company went public and has been doing well ever since. In 1990, International Lease Finance Corporation was acquired by the America International Group Inc. (AIG.) Currently, Steven Gonda sits as executive vice president and his father Leslie is chair and CEO.

From:, in the list of 1,000, number 273 is Steven Udvar-Hazy, California, age 61, $3.2 billion, category: International Lease Finance.

Source American International Group (quote: AIG), Service, Self made

Marital Status: Married, 4 children
Hometown: Beverly Hills, CA, United States
Education University of California at Los Angeles, Bachelor of Arts / Science

Hungarian immigrant's family fled Soviet occupation, moved to New York 1958. Became obsessed with airplanes as a child. Studied economics at UCLA, got hooked on flying; ran own plane brokerage while in college. Then with $150,000 savings, $1.7 million bank loan, started International Lease Finance with Louis and Leslie Gonda (also on the list). Business took off: airlines lined up for cheap, low-risk leases as industry was deregulated during 1970s. Became one of world's largest aircraft lessors. Sold to AIG in 1990; rising shares made him billionaire. Still works for insurance giant; says he's insulated from industry's downward spiral with majority of business coming from overseas. Friend of actor/pilot John Travolta; reads the official Airline Guide at bedtime.
"It gives me an understanding of where airlines are flying."

Sponsor of the Smithsonian National Air and Space Museum:

Here is a 2005 longer biography on Udvar-Hazy.

The National Air and Space Museum's Steven F. Udvar-Hazy Center

Number two and three in the Forbes Billionaire list also got their money from AIG:

583. Louis Gonda, California, 58, $1.7, International Lease Finance

Louis Gonda:
Country of Citizenship: United States
Residence: Beverly Hills, California, United States, North America
Industry: Service
Marital Status: married, 5 children

University of California at Los Angeles, Bachelor of Arts / Science

Father Leslie (see) survived Holocaust with wife, Susan; fled Hungary for Venezuela 1947. Moved to California 1963, in time for construction boom. Louis, with father and friend Steven Udvar-Hazy (see), bought, leased airplanes to major carriers in the U.S. Took International Lease Finance public 1983; became one of the world's largest aircraft lessors. Sold to American Insurance Group 1990 for stock. Louis retired as AIG executive vice president in 1995, tends to commercial real estate, venture capital investments via Lexington Commercial Holdings. Trustee of Scripps Research Institute for biomedical science.

717. Leslie Gonda, California, 86, $1.4, International Lease Finance

(L-R) Fouad Kandeel, MD, PhD; Leslie Gonda; Craig Smith, MD

Susan and Leslie Gonda

Country of Citizenship: United States
Residence: Beverly Hills, California, United States, North America
Industry: Service
Marital Status: married, 3 children

University of Magyarovar, Bachelor of Arts / Science

Survived Holocaust with wife, Susan; fled Hungary for Venezuela 1947. Moved to California 1963, in time for construction boom. With son, Louis (see), and friend Steven Udvar-Hazy (see), bought, leased airplanes to major carriers in the U.S. Took International Lease Finance public 1983; became one of the world's largest aircraft lessors. Sold to American Insurance Group 1990 for stock. Louis retired as AIG executive vice president in 1995, tends to commercial real estate, venture capital investments via Lexington Commercial Holdings. Trustee of Scripps Research Institute for biomedical science. Leslie generous to UCLA Hospital, Mayo Clinic and Israel's Bar-Ilan University. Gonda is active in horse racing and owns several of his own. In 1998, he invested in Siegfried & Roy's IMAX 3D film.

Story from UCLA:]
Biography from UCLA:

The story behind AIG, with officers and other information:

Story from USA Today, 2005:

List 1;_ylt=ApOYMAcMb.TFhjTMAQo1Vq9v24cA

List 2



Le-Nature's creditors want funds from players in fraud

By Len Boselovic, Pittsburgh Post-Gazette

An alliance of creditors proposed a plan yesterday for resolving more than $400 million in claims against Le-Nature's, saying they should be paid by suing those responsible for the massive fraud that destroyed the bankrupt Latrobe bottler.

Those who would be targeted by the lawsuits include former chairman and chief executive officer Gregory J. Podlucky and other ousted executives; Wachovia Bank, the company's lender and financial adviser; the company's former auditors, Ernst & Young and BDO Seidman; and anyone else who provided advice or made recommendations that promoted fraudulent activity.

Wachovia and others who would be sued also have claims against Le-Nature's, but under the plan they wouldn't be paid until the lawsuits determined whether or not they were responsible for the fraud.

The plan was filed in U.S. Bankruptcy Court, Downtown, by Le-Nature's unsecured creditors, investors who purchased a portion of the company's $278 million in bank debt from Wachovia in September and creditors holding $150 million in junk bonds Le-Nature's issued in 2003. The creditors want to control the so-called liquidating trust that would pursue the lawsuits and distribute the proceeds.

Creditors took Le-Nature's into bankruptcy in November after a Delaware judge ousted Mr. Podlucky and other managers and turned the company over to minority shareholders and a court-appointed custodian, Kroll Zolfo Cooper.

Kroll found evidence implicating Mr. Podlucky in the destruction of evidence and falsifying the company's books. They also found someone at Le-Nature's used forgery to get more than $20 million a leasing company had sent to a German equipment supplier on behalf of the company. The whereabouts of that money and more than $100 million in additional deposits is unknown.

Kroll concluded Le-Nature's annual revenue was about $32 million, not the $287 million BDO Seidman signed off on in 2005.

Le-Nature's plants in Latrobe and Phoenix were quickly closed after the bankruptcy began. A proposal to sell the Latrobe plant is one topic of a court hearing scheduled for Tuesday.

Meanwhile, the U.S. attorney and postal inspectors are pursuing possible criminal charges against Mr. Podlucky and others.

Papers filed with the court in January estimate Le-Nature's has assets of $40 million and liabilities of $450 million. The plan filed yesterday confirms what most creditors and attorneys have been saying for months: With Le-Nature's just a shell depleted of assets, creditors will have to take repayment out of the hides of those responsible for the fraud.

"It's an efficient and negotiated settlement to a complex problem," said David K. Rudov, an attorney for the unsecured creditors.

(Len Boselovic can be reached at or 412-263-1941. )



The Direction of Marlin Leasing: SEC Filing

Marlin Business Services Corporation,
300 Fellowship Road, Mount Laurel, New Jersey

In the Security Exchange Commission 10K filing on Friday, March 9, 2006, there is no indication of sales from brokers as compared to “direct sales.” In fact, there does not appear much, if anything at all, about business from independent leasing brokers in the filing.

“Our telephonic sales model allows us to efficiently originate and process a large volume of "small-ticket” transactions while managing credit risk. Small-ticket leasing transactions generally do not exceed $150,000 and our average transaction is less than $10,000. We generally access our customers through a network of independent equipment dealers and provide quick and quality service to both our dealer network and lease customers. Marlin Business Services Corp. successfully completed its Initial Public Offering of 5.06 million shares of common stock and began trading on the NASDAQ National Market on November 12, 2003. “

“Our principal competitors in the highly fragmented and competitive small-ticket equipment leasing market are smaller finance companies and local and regional banks. Other providers of equipment lease financing include Key Corp, De Lage Landen Financial, GE Commercial Equipment Finance and Wells Fargo Bank, National Association. Many of these companies are substantially larger than we are and have significantly greater financial, technical and marketing resources than we do. While these larger competitors provide lease financing to the marketplace, many of them are not our primary competitors given that our average transaction size is relatively small and that our marketing focus is on independent equipment dealers and their end user customers.”

March 9, 2006 Security Exchange Filinge, 10-K

As to the direction of Marlin Leasing, please find selected information from
the report, starting with what appears to be the most revealing:
type of equipment and location:

March 9, 2006 Security Exchange Filing, 10-K

“At December 31, 2006, we had 109,511 active leases in our portfolio, representing an aggregate minimum lease payments receivable of $799.7 million. With respect to our portfolio at December 31, 2006:

• the average original lease transaction was $10,095, with an average remaining balance of $7,285;

• the average original lease term was 47 months;

• our active leases were spread among 87,478 different end user customers, with the largest single end user customer accounting for only 0.06% of the aggregate minimum lease payments receivable;

• over 72.3% of the aggregate minimum lease payments receivable were with end user customers who had been in business more than five years;

• the portfolio was spread among 11,606 origination sources, with the largest source accounting for only 3.4% of the aggregate minimum lease payments receivable, and our ten largest origination sources accounting for only 10.1% of the aggregate minimum lease payments receivable;

• there were 72 different equipment categories financed, with the largest categories set forth below, as a percentage of the December 31, 2006 aggregate minimum lease payments receivable”
March 9, 2006 Security Exchange Filing, 10-K

“In October 2005, we submitted an application for an Industrial Bank Charter with the Federal Deposit Insurance Corporation (FDIC) and the State of Utah Department of Financial Institutions to form Marlin Business Bank (“Bank”). On July 28, 2006 the FDIC announced that it placed a six-month moratorium on all industrial bank applications, in response to the increasing number of applications by companies not already engaged in financial services. On January 31, 2007, the FDIC extended the moratorium for an additional year to sunset on January 31, 2008, but the FDIC excepted from the moratorium applicants engaged only in financial activities. Subject to regulatory approvals, Marlin Business Bank will operate from our Salt Lake City office. More information regarding the moratorium may be found at”
March 9, 2006 Security Exchange Filing, 10-K

“Our leases offer our end user customers the option to own the purchased equipment at lease expiration. Based on the minimum lease payments receivable as of December 31, 2006, approximately 73% of our leases were one dollar purchase option leases, 21% were fair market value leases and 6% were fixed purchase option leases, the latter of which typically are 10% of the original equipment cost. As of December 31, 2006, there were $48.2 million of residual assets retained on our balance sheet of which $35.1 million or 72.8% were related to copiers. As of December 31, 2005, there were $44.3 million of residual assets retained on our balance sheet of which $30.3 million or 67.6% were related to copiers. No other group of equipment represented more than 10% of equipment residuals as of December 31, 2006 and 2005, respectively. Improvements in technology and other market changes, particularly in copiers, could adversely impact our ability to realize the recorded residual values of this equipment.

Our leases generally include automatic renewal provisions and many leases continue beyond their initial term. We consider renewal income a component of residual performance. For the years ended December 31, 2006, 2005 and 2004 renewal income, net of depreciation amounted to $6.5 million, $6.1 million and $4.5 million and net gains (losses) on residual values disposed at end of term amounted to $284,000, ($41,000) and $158,000 respectively. The increase in net residual income is generally consistent with past customer behavior in electing renewal options, the growth in our lease portfolio and an increased number of leases where we retain a residual interest reaching end of term.”
March 9, 2006 Security Exchange Filing, 10-K

March 9, 2006 Security Exchange Filing, 10-K



Leasing Industry Help Wanted

Credit Analyst

Credit Analyst
Irvine, California

Southern California candidates only--Minimum two years experience with leasing credits, $40-$45K base depending on experience.
Call or e-mail: Pamela Stuber 800-234-0136 ext. 243

About Us: As a leader in equipment financing we have created funding partnerships with a wide variety of financial institutions and specialized credit facilities. This diversity allows us to be a complete funding partner for your business.

Sales Regional Office

Financial Funding Services, LLC

Sales/Regional Office

Generous Compensation with above average industry commission splits/unlimited income potential, six figures plus and nationwide financing for A – D credit.
Click here for more info.

Small Ticket Specialists

Three Small Ticket Specialists

Ft. Lauderdale, FL, Nashville, TN, and
Richmond, VA.
Click here for more information.





Top Stories---February 26-March 2

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

(1) Four Leasing individuals make top Forbes Billionaire List

(2) Balboa Capital changes finance direction

(3) Allied Capital acquires Direct Capital

(4) Direct Capital Corporation in the News

(5) Bernie Boettigheimer starts Lease Police

(6) Senior Management---Help Wanted

(7) Direct Capital Founder David Murray

(8) Personal Tax Changes- from Jeffrey Taylor, CLP

(9) Marlin Leasing looking for Prez & Head of Factoring?

(10) Leasing 102 -by Mr. Terry Winders, CLP
"Operating Lease"



Leasing 102

“Reasons Why Customers Lease”

by Mr. Terry Winders, CLP

The reasons customers lease is as varied as your imagination, but I think the most correct answer overall is the 100% advance on the equipment cost. This reason shows up on most leasing companies leasing brochures. They often include the other normal reasons such as off balance sheet, capital conservation, convenience, etc. However the world has become more educated and we need to look at the modern reasons people lease.

One of the benefits of an Operating Lease classification for Lessee GAAP accounting is the ability to charge the lease payment as an expense as it is paid, so if you create an irregular lease payment, based on the use of the equipment. The accounting rules state “If rental payments are not made on a straight-line basis, rental expense nevertheless shall be recognized on a straight-line basis unless another systematic and rational basis is more representative of the time pattern in which use benefit is derived from the leased property, in which case that basis shall be used.” This gives use the advantage of creating irregular rents that match the use or revenue of the equipment we lease. Therefore some of the advantages that we should be presenting are how to control expenses with irregular rent and placing the expense in the accounting period where it will do the most good.

Another reason companies lease is to “protect profits” by placing the irregular lease payment next to the irregular revenue so the company has a good margin each month instead of allowing expenses that precede revenue to create months of losses. Many sound companies have expenses each month but are in a seasonal business or have irregular sales and revenues. This creates months of expenses with little offsetting revenues. Leasing can help match expenses to revenue. Any company that shows a small profit each month is preferred to one that has the same annual income but has three or four months of losses.

Even if you have a capital lease for lessee classification purposes you can limit their expense to the term of the lease by not having a bargain purchase option. You may still fail the 90% test but at least the term of the combined interest and depreciation expense will be finished at lease termination. Then you can say “The expense stops when the equipment stops”

If you check on expected maintenance expense over the term, an operating lease allows you to vary the lease payment so that when the maintenance expense occurs you can lower your lease payment so when adding the two together it is a level cost for the term of the lease instead of an ever increasing expense as maintenance increases. This also helps a comptroller to see the actual monthly expense to have the equipment instead of having to do cost accounting.

Many up front expenses such as; freight, set up expenses, sales taxes, and installation cost are included in the lease and are amortized over the term of the lease instead of being expensed up front. Therefore leasing also reduces the cost to obtain the equipment use and many times we can place the first payment in the next budget period allowing the lessee to have the equipment now instead of having to wait for new budgets to come out.

Controlling when the lease payment is expensed is as easy as creating an irregular payment stream. So new terms for your brochure should be; protect profits, maintain margins, expense stops when equipment stops, off set periods of low cash, have expense when you what it, and avoid additional costs from needing lines of credit.

This is only the tip of the iceberg on reasons companies lease so we need to be more inventive in our approach. Offer new programs to encourage you customers to use leasing to solve all kinds of accounting and tax problems.

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.


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

Genesis Lease Limited Reports Fourth Quarter Results

LIMERICK, Ireland, -- Genesis Lease Limited (NYSE:GLS - News) announced its financial results for the fourth quarter and the year ended December 31, 2006. Results include 13 days of operations from the completion of its initial public offering (``IPO'') on December 19, 2006 through December 31, 2006, as well as the results of its predecessor entity for the period from October 1, 2006 through December 18, 2006.(1)

On December 19, 2006, Genesis completed its IPO and issued 27,860,000 shares at a public offering price of $23.00 per share. On December 19, 2006, Genesis also issued 3,450,000 shares to an affiliate of General Electric Company (``GE''), in a private placement for a price of $23.00 per share and issued $810 million of floating-rate aircraft lease-backed notes in a securitization transaction. Genesis used the net proceeds of the IPO, the private placement of shares to GE and the securitization to finance the acquisition of a portfolio of 41 aircraft from affiliates of GE. On January 16, 2007, Genesis sold an additional 4,179,000 shares after the underwriters of its IPO exercised their over-allotment option in full, as well as 517,500 additional shares in a private placement to GE, for aggregate additional proceeds of $108.0 million.(2)

John McMahon, President and Chief Executive Officer of Genesis, said, ``We are very pleased to have successfully completed our initial public offering, the securitization and the purchase of our initial aircraft portfolio in a series of transactions that was recognized as the 'Deal of the Year 2006' by the highly respected trade publication Airfinance Journal. We believe these achievements will provide a solid foundation from which to execute our strategy of growing our aircraft portfolio through accretive acquisitions. Subject to board approval, we anticipate paying our first dividend in May 2007 for the period from the completion of the IPO through March 31, 2007 in an amount of 53 cents per share, which reflects our anticipated quarterly dividend of 47 cents per share, plus an incremental amount of 6 cents to reflect the slightly longer period.''

Fourth Quarter Highlights

During the fourth quarter of 2006, Genesis:

* Successfully completed a $640.8 million IPO, a $79.4 million private placement and an $810.0 million securitization;

* Acquired a portfolio of 41 aircraft for a purchase price of $1,459.4 million;

* Received a commitment for a $1 billion senior secured revolving credit facility that will be used to finance the acquisition of additional aircraft; and

* Generated combined revenues of $41.6 million and combined net income of $7.0 million.

Full financial statement here:


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

Mortgage Industry continues its slide

New Century Financial Corp., the U.S. home lender whose stock plunged almost 90 percent this year, has stopped making new loans as analysts speculate the company may soon file for bankruptcy protection.

The company, based in Irvine, CA told the news media in a statement that it's in talks with lenders and potential partners about refinancing or "other alternatives." New Century, which has lending offices in the St. Louis area, added it can give "no assurances" that efforts to refinance the debts will succeed.

WMC Mortgage Corp. sacked 460 employees, or about 20% of its workforce, in response to the rising tide of defaults on high-risk loans, Bloomberg reported March 9.

As previously reported by the National Mortgage News, the General Electric Co. unit has also begun scaling back lending activities due to the downturn in the subprime mortgage market, according to SNL.

Many in the leasing business who turned to the mortgage brokerage are out looking for employment.


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

News Briefs----

Subprime mortgage troubles raise fears-Mike Freeman

The national debt: $8,800,000,000,000

Halliburton Moving C.E.O. From Houston to Dubai

AMD's well may be running dry



You May have Missed---

Home builders outline their impact on economy



Sports Briefs----

T.O. didn't know entire playbook

Stanford in the NCAA



“Gimme that Wine”

Duckhorn Wine Company Taking Offers

Inquiry Looks at Accusations That Wines Had False Labels

Inaugural class of iconic vintners spurs little controversy or excitement

Pizza still king at Manzanita, Healdsburg, CA

Wine Prices by vintage

US/International Wine Events

Winery Atlas

Leasing News Wine & Spirits Page

The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.



Calendar Events This Day

Gabon: National Day
Observes founding of Gabonese Democratic Party on March 12, 1968

Lesotho: Moshoeshoe’s Day
National holiday. Commemorates the great leader Chief Moshoeshoe 1, who unified the Basotho people, beginning in 1820

Mauritius: Independent Day
National holiday commemorates attainment of independent nationhood
(within the British Commonwealth) on March 12, 1968

National Baked Scallops Day

Saint Feast Days:

· St. Fina
· St. Seraphina
· Sts. Theophanes
· St. Alphege
· St. Bernard of Carinola
· St. Vindician
· St. Egdunus
· Bl. Joseph Tshang-ta-Pong
· Bl. Luigi Orine, Blessed
· St. Mamilian
· St. Maximilian
· St. Mura McFeredach
· St. Paul Aurelian
· St. Peter of Nicomedia
· St. Peter the Deacon



Borborygmi is the noise that your stomach makes when you are hungry ((Rumbling sounds caused by gas moving through the intestines (stomach "growling").)



Today's Top Event in History

1955 “ Bird Lives:” Jazz alto saxophonist Charlie "Bird" Parker dies in New York City of heart failure. He more-or-less invented the be-bop form of music and just the week before played at the New York City jazz club Birdland, which was named after him. Charlie Parker was 34 years old. Among several streets in New York, written in chaulk on the sidewalk,"The Bird lives." The tradition continues on this day, at least here in Saratoga, California. ( national register of historic places )


This Day in American History

    1609-Quite by accident, Bermuda was colonized. The ship of Admiral Sir George Somers, taking settlers to Virginia, was wrecked on the reefs of Bermuda. The islands had been discovered in the early 1500s, but were uninhabited until 1609.
    1613-The first colonial warfare between England and France in America occurred at Mount Desert, ME, where Father Pierre Biard, superior of Saint Sauveur, had established a settlement of French Jesuits. The settlement was attacked by an English expedition under the command of Captain Samuel Argall. His aim was to suppress piracy and defend England’s claim to the country, which was based on explorations made by John and Sebastian Cabot in the 15th and 16th centuries. The seas around
this area were also ripe with fish and European countries would set sail for the area just
for the fishing.
    1773- French-African Jeanne Baptiste Pointe de Sable founded settlement now known as
Chicago, Ill, 1773
    1831-Clement Studebaker was born in Gettysburg, Pennsylvania. Clement and his brother, Henry Studebaker, founded H. & C. Studebaker, a blacksmith and wagon building business in South Bend, Indiana. The Studebaker brothers made their fortune manufacturing carriages for the Union Army during the Civil War. By the end of the war, the Studebaker Brothers Manufacturing Company had become the world's largest manufacturer of horse- drawn carriages. With the advent of the automobile, Studebaker converted its business to car manufacturing, becoming one of the larger independent automobile manufacturers. Another major war would effect the company's fortune almost a century after its founders had benefited from the demand caused by the Civil War. During World War II, Studebaker manufactured airplane engines, trucks, and weasels (small military vehicles) for the war effort. Like many of the independents, Studebaker fared well during the war by producing affordable family cars. As their advertisement claimed, "Studebaker is building an unlimited quantity of airplane engines, military trucks, and other materiel for national defense... and a limited number of passenger cars, which are the finest Studebaker has ever produced." However, after the war, the Big Three--GM, Ford, and Chrysler--bolstered by their new government-subsidized production facilities, were too much for many of the independents, and Studebaker was no exception. Post-WWII competition drove Studebaker to its limits, and the company was absorbed by the Packard Corporation in 1954.
    1877-- David McKendree served as postmaster general in the cabinet of President Rutherford B. Hayes this day until August 24,1880. McKendree was a lieutenant colonel in the 43rd regiment of Tennessee and had been wounded and captured at Vicksburg. He also was a U.S. Senator. The appointment was quite controversial at the time.
    1884 - The State of Mississippi authorized the first state-supported college for women. It was called the Mississippi Industrial Institute and College.
    1896 -- Jesse "Lone Cat" Fuller born, Jonesboro, Georgia. A country blues singer and one-man-band, he wrote the classic "San Francisco Bay Blues," among many other songs, and influenced numerous early-60s white folk-blues artists.
    1888-One of the most devastating blizzards to hit the northeastern US began in the early hours of Monday.. A snowfall of 40-50 inches, accompanied by gale-force winds, left drifts as high as 30-40 feet. More than 400 persons died in the storm (200 at New York City alone). Some survivors of the storm, "The Blizzard Men of 1888,' held annual meetings at New York City as late as 1941 to recount personal recollections of the event.
    1901---Andrew Carnegie donates $5.2 million to build 65 branch libraries in New York; between 1900 and his death in 1919, Carnegie used his vast his riches to establish over 2500 libraries. He believes reading is very important. In 1775, less than 60% could read, not including slaves which was a lot higher, and women, reportedly 75% could not read or write. The free education system through reading brought “equality” and a better style of life for the entire country.
    1903 -The New York Highlander franchise (to be renamed Yankees in 1913) is approved as a member of the American League.
    1904-Raphael Hawaweeny was ordained Eastern Orthodox bishop of Brooklyn, NY, at St. Nicholas Church. As a vicar under the Holy Synod of the Church of Russia, Hawaweeny thus became the first Russian Orthodox bishop ordained in America.
    1912- Juliet Low founded the Girl Scout of the USA at Savannah, Georgia. As is the tradition, Girl Scout cooks are on sale during this week. At first, the girls weren’t called Girl Scouts at all. They were called Girl Guides until the name was officially changed a short time after the group’s founding.
    1917- Earl Heywood, known as "Canada's Number-One Cowboy Singer," was born in London, Ontario. He began his career in 1941 on CFCO in Chatham, Ontario. The following year he moved to CKNX in Wingham, where he remained as a singer and announcer for more than 35 years. Heywood appeared for almost 20 years on the weekly "CKNX Barn Dance" and was host for "Serenade Ranch" from 1946 to 1953. Heywood and his Serenade Ranch Boys recorded 18 songs for RCA Victor, the most popular of which was "Alberta Waltz."
    1917-Chess record producer Leonard S. Chess born Motol, Poland.
Without the two Chess brothers most of the blues songs would not have been recorded, or influenced the Rock’n’Roll musicians that followed,,414291,00.html?artist=Leonard+Chess
    1918-Organ player Sir Charles Thompson born Springfield OH
    1922- American poet and novelist Jack (Jean-Louis) Kerouac, leader and spokesman for the Beat movement, was born at Lowell, MA. Kerouac is best known for his novel On the Road, published in
1957, which celebrates the Beat ideal of nonconformity. Kerouac published The Dharma Bums in 1958- followed by The Subterraneans the same year, Doctor Sax and its sequel Maggie Cassidy in 1959; Lonesome Traveler in 1960, Big Sur in 1962 and Desolation Angels in 1965. Kerouac died at St. Petersburg, FL, at age 47, Oct 21, 1969. A previously unpublished part of On the Road called Visions of Cody was published posthumously in 1972.
    1923- the first movie with sound was shown before the New York Electrical Society in New York City by Dr. Lee De Forest. Called “ The Gavote” it should a man and woman dancing to old-time music performed by four musicians playing on wind, percussion and string instruments. An Egyptian dance “trailer” was also shown. No voices were heard, only music. . As a pioneer of ‘modern’ radio in the early 1900’s, DeForest called his invention; phonofilm. Today it's called soundtrack.
    1926-“The home of the Happy Feet,” Harlem’s famous Savoy Ballroom opens.
“Stompin’ at the Savoy,” Count Basie (also one of Benny Goodman’s hits) The entrance fee was very small, and often the crowd was 15% to 25% white; supposedly the room was very well lit so you could view other dances and very well-ventilated
( the days before air conditioning this was very important.)
    1928-sax player Willie Maiden born Detroit MI,,462246,00.html?artist=Willie+Maiden
    1928 - The St. Francis dam 40 miles north of Los Angeles burst and flooded the valley; over 500 people were drowned.
    1932- Andrew Young, civil rights leader, former mayor of Atlanta, GA, born New Orleans, LA.
    1933-. Eight days after he was inaugurated, President Franklin Delano Roosevelt gave his first presidential address to the nation for the first of one of his famous "Fireside Chats". The name was coined by newsman, Robert Trout, who thought the President sounded as if he was sitting in living rooms all over the nation, next to a roaring fire.
Speaking by radio from the White House, he reported rather informally on the economic problems of the nation and on his actions to deal with them. His subject was the reopening of the banks during the following week. 1935 - Pari-mutuel came into being as horse race bets were legalized in Nebraska. Today, there are still states where horse racing, betting or other forms gambling still bother legislatures, despite that other states have been participating in these activities for years
    1935-Pianist Hugh Lawson Detroit MI
    1939 - Artie Shaw and his band recorded "Deep Purple" for the Bluebird label. After the first minute, you can hear Helen Forrest sing the vocal refrain. Larry Clinton had a number one song with a similar arrangement of the same song this same year; which was a hit for saxophonist, Nino Tempo and his sister, April Stevens in 1963. Hundreds of versions of this song have been recorded.
    1940—Singer Al Jarreau born Milwaukee WI
    1942- Paul Kantner, guitar player with Jefferson Airplane, is born. His biggest hit is the million-selling No. 1 song "You've Got a Friend" in 1971.
    1946 - The filming of the controversial Forever Amber began in Hollywood, with a record-breaking $3 million budget. The film, based on the steamy best-selling novel by Kathleen Winsor which was banned in Australia, starred Linda Darnell, Cornel Wilde, George Sanders, Richard Haydn, Leo G. Carroll, and Jessica Tandy. The film went way over budget, ultimately costing $6.5 million, or $2.5 million more than Gone With the Wind less than a decade earlier. The film's budget skyrocketed partly because Darnell replaced actress Peggy Cummins in the lead role after she was fired, which forced a temporary production shut-down. Despite its stellar cast, superb musical score, expensive costumes, and ambitious plans, the 140-minute epic was a big flop at the box office.
    1946—vocalist Liza Minelli born Los Angeles, CA, the daughter of Judy Garland and film director Vincente Minelli. She made her professional debut at the age of three in a toddle- on role in the film "In the Good Old Summertime," directed by her father and starring her mother. But Liza Minelli soon dispelled notions that she was coasting on her parents' reputations. When she was 19, she became the youngest performer to win a Tony Award for he role in the Broadway musical "Flora, the Red Menace." Six years later, she was a star of the first magnitude capturing an Oscar for her singing, dancing and acting in "Cabaret."
    1947 – President Harry S. Truman asks Congress for "anticommunist" aid to Greece and Turkey. The speech is dubbed as the Truman Doctrine and officially ushers in the Cold War era. President Truman declares the U.S. must help "free peoples who are resisting attempted subjugation by armed minorities or by outside pressures." President Truman declares the world "must choose between alternative ways of life." One based on "the will of the majority . . . distinguished by free institutions"; the other on "the will of a minority . . . terror and oppression . . . the suppression of personal freedoms."
    1948-singer/composer James Taylor born Boston, MA. His first professional experience was with a rock band called the Flying Machine. Then came his first solo album for the Beatles' Apple Records. It didn't do very well, but after a switch to Warner Brothers, he hit it big. Taylor's second album, "Sweet Baby James," sold three-million copies. "Fire and Rain" from that LP hit the top of the singles chart in 1970 and helped make James Taylor a household name. He won a Grammy Award in 1978 for his recording of "Handy Man," a slowed-down version of the old Jimmy Jones rock 'n' roll song. Taylor married singer Carly Simon in 1972, but she sued for divorce ten years later.
    1951—Top Hits
If - Perry Como
My Heart Cries for You - Guy Mitchell
Be My Love - Mario Lanza
There’s Been a Change in Me - Eddy Arnold
    1954-A bridge hand in which each player was dealt a perfect hand of 13 cards of the same suit occurred at Cranston, RI. Irene Motta bid seven hearts and won the bid.
    1954 -a blizzard raged from eastern Wyoming into the Black Hills of western South Dakota while a severe ice storm was in progress from northeastern Nebraska to central Iowa. The ice storm isolated 153 towns in Iowa. Dust from the Great Plains caused brown snow, while hail and muddy rain fell over parts of Wisconsin and Michigan.
    1955 - “ Bird Lives:” Jazz alto saxophonist Charlie "Bird" Parker dies in New York City of heart failure. He more-or-less invented the be-bop form of music and just the week before played at the New York City jazz club Birdland, which was named after him. Charlie Parker was 34 years old. Among several streets in New York, written in chaulk on the sidewalk,"The Bird lives." The tradition continues on this day, at least here in Saratoga, California. ( national register of historic places )
    1955 - One of the great groups of jazz appeared for the first time at Carnegie Hall in New York City. The Dave Brubeck Quartet presented a magnificent concert for jazz fans. Joining with Brubeck, in what would become one of the most popular concert draws on college campuses, were names that would become legends in their own right, including Paul Desmond on alto sax, Joe Morello on drums and Eugene Wright on bass.
    1956-Dick Farley of the Syracuse Nationals fouled out on an NBA game against the St. Louis Hawks after playing just five minutes, the fastest disqualification in league history.
    1959--- Top Hits
Venus - Frankie Avalon
Charlie Brown - The Coasters
Alvin’s Harmonica - David Seville & The Chipmunks
Don’t Take Your Guns to Town - Johnny Cash
    1964 -Malcolm X confirms resignation from Nation of Islam
    1966- Chicago Blackhawks left wing Bobby Hull became the first NHL player to score more than 50 goals in a season when he tallied his 51st goal of the year against the New York Rangers.
    1966-In San Francisco, The Alligator Clip, the Charlatans, Sopwith Camel, and Duncan Blue Boy and his Cosmic Yo-Yo, at the Firehouse on Sacramento Street.
    1967---Top Hits
Love is Here and Now You’re Gone - The Supremes
Baby I Need Your Lovin’ - Johnny Rivers
Penny Lane - The Beatles
The Fugitive - Merle Haggard
    1967 -a tremendous 4 day storm was in progress across California. Winds to 90 mph closed mountain passes, heavy rains flooded the lowlands, and in 60 hours Squaw Valley was buried under 96 inches of snow.
    1968 -McCarthy does well in the Democratic primary.
Senator Eugene McCarthy (D-Minnesota), an outspoken critic of the Johnson administration's policies in Vietnam, polls 42 percent of the vote in New Hampshire's Democratic presidential primary. President Lyndon B. Johnson got 48 percent. A Harris poll later showed that anti-Johnson, rather than antiwar, sentiment provided the basis for McCarthy's surprisingly strong performance.
McCarthy had been a contender to be President Lyndon B. Johnson's running mate in the 1964 election, but since then he had become increasingly disenchanted with Johnson's policies in Vietnam and the escalation of the war. In 1967, he published The Limits of Power, an assessment of U.S. foreign policy that was very critical of the Johnson administration. McCarthy announced his candidacy for the Democratic presidential nomination in January 1968, saying that he hoped to harness the growing antiwar sentiment in the country, particularly among the young. His showing in the New Hampshire primary astonished most of the political pundits. Johnson, frustrated with his inability to reach a solution in Vietnam and stunned by his narrow victory in New Hampshire, announced on March 31, 1968, that he would neither seek nor accept the nomination of his party for re-election. The rest of McCarthy's campaign was almost an anticlimax. Senator Robert Kennedy of New York entered the race and won most of the Democratic primaries until his assassination in June. When the Democratic National Convention opened in Chicago, a conflict immediately erupted over the party's Vietnam platform. While demonstrations against the war took place in the streets outside the convention hall, Vice President Hubert Humphrey won the party nomination. Humphrey was defeated in the general election by Republican Richard Nixon. McCarthy retired from the Senate in 1971, but his surprising showing in the primary was evidence of the strong antiwar sentiment in the country.
    1974 - "Wonder Woman" debuted on ABC-TV, although it eventually moved to CBS. It starred Lynda Carter as Wonder Woman, whose real name was Diana Prince. Wonder Girl, Diana's sister, was Donna Troy.
    1975---Top Hits
Have You Never Been Mellow - Olivia Newton-John
Black Water - The Doobie Brothers
My Eyes Adored You - Frankie Valli
Linda on My Mind - Conway Twitty
    1983-U2's "War" enters the British LP chart at #1.
    1983---Top Hits
Billy Jean - Michael Jackson
Shame on the Moon - Bob Seger & The Silver Bullet Band
Do You Really Want to Hurt Me - Culture Club
The Rose - Conway Twitty
    1984-A the World Figure Slaking Championships, Jayne Torvill and Christopher Dean of Great Britain became the first ice dancing team to earn nine perfect marks of 6.0
    1985 - Larry Bird of the NBA’s Boston Celtics scored a club-record 60 points in a 126-116 victory over the Atlanta Hawks. Bird broke the record previously held by teammate Kevin McHale, who scored 56 points just nine days earlier.
    1985 - Auto dealer Tom Bensen and several investors plunked down some cash to buy the New Orleans Saints football team. The bankroll was quite substantial -- about $64 million.
    1986 -- Susan Butcher wins 1,158 mile Iditarod Trail Sled Dog Race.
    1987 - After breaking all records for advance ticket sales, the British musical Les Miserables opened on Broadway.
    1987- A&M Records presented Special Olympics International with a check for $5-million. It was the first proceeds from sales of "A Very Special Christmas," a collection of yuletide songs by such superstars as Bruce Springsteen, U2, Bon Jovi and Run-DMC.
    1989 - An early season heat wave continued in the southwestern and central U.S. Nineteen cities reported record high temperatures for the date. Wichita Falls TX, which six days earlier reported a record low of 8 above, reported a record high of 95 degrees. Childress TX was the first spot in the country in 1989 to hit the century mark
    1990 -unseasonably warm temperatures occurred from the Mississippi Valley to the Atlantic coast. Over 90 high temperature records for this date were broken or tied. Many of the records were topped by 15 degrees or more and some of the records broken had been set 100 years ago or more. The high temperature for the nation was recorded in Baltimore, Maryland where the temperature reached 95 degrees. Washington, DC and Richmond, Virginia both recorded 89 degrees.
    1991---Top Hits
Someday - Mariah Carey
One More Try - Timmy -T-
Show Me the Way - Styx
I’d Love You All Over Again - Alan Jackson
    1992- Eric Clapton appeared on MTV's "Unplugged." His acoustic performance was released as an album, becoming one of his biggest sellers. It included a remake of his 1970 Top-10 hit "Layla," which almost matched the original in popularity. The format produced many other “relaxed, simple, and
intimate” performances and records.
    1993 -what was to become the "Great Blizzard of '93" began to develop as a huge mesoscale convective complex formed in the western Gulf of Mexico. As the low pressure area moved eastward and intensified, howling north winds exceeding hurricane force behind the storm were reported by platforms in the Gulf. One platform near 28.5n/ 92.5w recorded sustained winds of 85 mph with gusts to 99 mph. As the low crossed the coast around midnight near Panama City, Florida, the central pressure was already down to 980 millibars (28.94 inches). During the late evening into the early morning hours of the 13th, a vicious squall line swept through Florida and spawned 11 tornadoes resulting in 5 fatalities. Thunderstorm winds gusted to 110 mph at Alligator Point and 109 mph at Dry Tortugas. Extremely high tides occurred along the western Florida coast. A 13 foot storm surge occurred in Taylor county, Florida, resulting in 10 deaths with 57 residences destroyed. A 5 to 8 foot storm surge moved ashore in Dixie county. Over 500 homes were destroyed with major damage to another 700 structures.
    1994 - The Church of England broke with 460 years of male dominance when it ordained its first women priests in Bristol Cathedral.
    1996-Directly contradicting an agreement signed with Netscape the previous day, AOL agrees to use and promote Microsoft's Internet Explorer browser exclusively. In exchange, Microsoft agrees to bundle AOL software with its Windows 95 operating system. The abrupt about-face would became an important issue in the Department of Justice's 1998 antitrust suit against Microsoft. A senior vice president at AOL testified that his company had initially avoided selecting the Microsoft browser because Microsoft seemed to be in direct competition with AOL.
    2001- Richard Hidalgo signs the third-richest contract in Astro history with a four-year $32 million, deal with the club. The outfielder's pact is less than teammate's Jeff Bagwell's $85 million (5-years), and Craig Biggio's $33 million (4-years).
    2003- The second exhibition season bench-clearing brawl this week occurs as a raging Mike Piazza, after being hit by a pitch, charges the mound in pursuit of Guillermo Mota, who makes to the dugout without being caught. The incident may be a follow-up to an incident last spring which resulted in a shoving match after a similar event and the Met All-Star catcher waited for the Dodger reliever, who was coming off the field in the eighth inning and grabbed him by the jersey.



Winter Poem


    Mama said wisely, “A boy gets to be a man when a man is needed. Remember this thing. I have known boys forty years old because there was no need for a man.”
“When did Pepe come to be a man?” Emilo asked.
“Last night, “said Rosy. “Last night in Monterey.” The ocean clouds turned red with the sun that behind the mountain.
Rosy looked around at him. She drew her knowledge from the quiet air. “He has gone on a journey. He will never come back.”
“is he dead? Do you think he is dead?”
    Rosey looked back at the ocean again. a little steamer, drawing a line of smoke sat on the edge of the horizon. “He is not dead,” Rosy explained. “Not yet.”
Pepe rested the big rifle across the saddle in front of him. He let the horse walk up the hill and he didn’t look back. The stony slope took on a coast of short bursh so that Pepe found the entrance to a trial and entered it…
    It was a long struggle to get to his feet. he crawled slowly and mechanically to the top of a big rock on the ridge peak. Once there, he arose slowly, swaying to his feed, and stood erect. Far below he could see the dark brush where he had slept. he braced his feet and stood there, black against the morning sky.
    There came a ripping sound at his feet. A piece of stone flew up and a bullet droned off into the next gorge. The hollow crash echoed up from below. Pepe looked down for a moment and then pulled himself straight again.
    His body jarred back. His left hand fluttered helplessly toward his breast. The second crash sounded from below. Pepe swung forward and toppled form the rock. his body struck and rolled over and over, starting a little avalanche. And when at least he stopped against a bush, the avalanche slid slowly down and covered up his head.

    John Steinbeck




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