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Assistant Manager
San Francisco, California

Excellent opportunity to work with growing equipment leasing bank division, excellent reputation. Click here for more information.

First Republic Bank has offices in the San Francisco Bay Area, throughout California, and in Portland, Seattle, Las Vegas, Boston and New York.

Wednesday, March 21, 2007


Classified Ads---Credit
  Federal funds rate unchanged stays at 5.25%
    Balboa Capital takes on Marlin Leasing
        Funder List up-dated: Sterling Leasing, New York
Broker/Lessor List up-dated: GCR Capital Equip. Leasing
    Bank of the West Expands Back Office Operation
        Back Office Companies List
Classified Ads---Help Wanted
    Sales makes it Happen---by Linda P. Kester
    “How to Lure back Vendors”
        Saratoga Art Show - 6 May 2007
CMC/Netbank: Perfecting Interest in a Lease
    Kevin Libert V/P Biz Development Key Equipment
        MicroBilt Announces Release 3.7/New Site
Maplesoft Strengthens Presence Toolbox
    Aircraft & engine leasing: Heading skywards
        More bank buyouts ahead
Barclays might be good fit for LaSalle Bank, Chicago
    Today: Fed aims to steer course through slow growth
        News Briefs---
You May have Missed---
    California Nuts Brief---
        "Gimme that Wine"
Calendar Events
    Snapple Real Facts
        Today's Top Event in History
    This Day in American History
Spring Poem
        Daily Puzzle

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

Friday---"To Tell the Truth"---Barry S. Marks, Esq. "ELFA"


Classified Ads---Credit

Atlanta, GA
10 yrs experience in credit/collections/recovery/documentation in the leasing industry. P&L responsibility, team builder & strong portfolio mgnt. skills.

Corona, CA
VP credit Consumer Credit prime/sub prime Auto lending/leasing/mortgages. 20+yrs exp. If you are looking for someone to affect the bottom line I am that person. Will relocate.

Fort Lee, NJ
3 Years Experience credit/documentation. Looking in NJ/NY.

Irvine, CA
I have over 16 years of Credit/Collection experience in the finance industry. Prompt results, extremely effective and knowledgeable, professional, excellent manager and team player.

Los Angeles, CA
Over 15 years experience in Credit/Operations with Small Ticket and transactions up to $500,000.00. CLP, with excellent relationships with most major lenders.

New Jersey, NJ
Credit Analyst with 10+ years experience in small-ticket lending up to $500,000. Experience with both vendor-direct and with brokers.

New York, NY
V.P. Credit & Collections w/23 years exp. looking for a situation where I can utilize my varied & extensive knowledge of credit/collections/risk-management & leasing.

Sausalito, CA
Sr. Corp. officer, presently serving as consultant, fin. service background, M&A, fund raising, great workout expertise, references

Orange, CA
Credit/Operations-15 years exper., looking for a new home. Have handled both middle/ large ticket transaction, plus muni & international finance.

These job-wanted ads are free. We also recommend to both those seeking a position and those searching for a new hire to also go to other e-mail posting sites:

In addition, those seeking employment should go to the human resource departments on company web sites for funders, captive lessors, and perhaps “broker-lessors.”

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

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


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

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

Recent indicators have been mixed and the adjustment in the housing sector is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters.

Recent readings on core inflation have been somewhat elevated. Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.

In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E. Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh.

More here:



Balboa Capital takes on Marlin Leasing

by Christopher Menkin

Balboa Capital, Irvine, California announced that it has secured up to $15 million of subordinated financing from global investment and advisory firm Babcock & Brown (ASX: BNB). The growth capital will support the company's various expansion initiatives. Bruce Kropschot, of Kropschot Financial Services, served as exclusive financial advisor to Balboa.

“Balboa plans to use the capital to expand its middle ticket and small ticket equipment leasing origination activities.” David Chiurazzi, Chief Financial Officer, stated, “We are enthusiastic about our partnership with Babcock & Brown. Their investment provides the company with the flexible long term capital which will fuel the next phase of our growth.”

“The commitment by Babcock & Brown to provide up to $15 million of subordinated financing to Balboa Capital Corporation should be an important step in Balboa Capital's growth by expanding the company's capital base,” Bruce Kropschot told Leasing News.* “Subordinated financing is difficult for equipment leasing companies to obtain, and the fact that such a prestigious firm as Babcock & Brown has become a long-term partner of Balboa Capital certainly is a testament to the credibility of the company's business plan and its management team."

Balboa makes working capital loans up to $25,000, promoting it to its network of brokers, as well as application only up to $250,000 with $100,000 standard, no bank or trade checks, and it is assumed
these products are also available to its direct marketing and vendor divisions. It offers brokers up to 20% commission with participation in residuals and Evergreen leases. It is not known what internal sales earn, although Southern California has many ex-salesmen who now run their own leasing companies. There is no doubt that Balboa Capital is in an expansion mode and by the approvals of securization and subordinated financing is being viewed as a viable entity.

In its quest to go after middle ticket leases, the smaller leases are approved more quickly, funded more quickly, and brokers rave about the Compass software service, the rates, the approvals, especially the speed in approvals, the liberal equipment criteria, and how easy Balboa Capital is to work with. Many have switched from Marlin Business Services to Balboa Capital, they told Leasing News. Others are waiting in line to get approved as a broker.

On March 7, Balboa Capital announced that it completed its first term securitization by issuing $100,000,000 in contract backed notes through its subsidiary, BCC VI. RBS Greenwich Capital was the transactions Initial Note Purchaser. The $100,000,000 notes were priced at L +15 and guaranteed by financial guaranty insurance policies issued by XL Capital and Radian Asset Assurance. The notes were rated AAA and Aaa by Standard and Poors and Moodys respectively and sold to a diverse group of investors.

(Bruce Kropschot is a member of the Leasing News Advisory Board, but makes no comments or provides any information unless they are cleared by his clients first. editor)

Coda: Evergreen leases appear to be prevalent in the equipment leasing industry as noted in the Marlin Leasing SEC, as practiced by US Bancorp, and many bank leasing companies.



Funder List up-dated: Sterling Leasing, New York

Leasing News has been getting inquiries regarding Sterling Financial, Kansas, who appears to do “C” and “D” paper. They may qualify for the "Story Credit" list, as our due diligence is almost complete.

Sterling Financial, Spokane, Washington, who was a savings bank, has been buying smaller banks in the three neighboring states, recently Northern California, Santa Rosa, to be exact, and is going to move from mortgages to leases ( from press release and a fellow who has interviewed for a top sales position asked me what I knew.) They evidently think they can cut into Exchange Bank’s territory.

Sterling in Houston, Texas reportedly is out of leasing, as readers know, and the ever popular Fred Van Etten is now at Popular Leasing in Missouri.

So it was appropriate to up-date Robert Krause's listing, plus to learn some of their changes, such as the $150,000 application only. He was happy to up-date the listing, but did add, "Too bad we can't copyright the name Sterling."

Funder - Update

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen

In Business Since Contact
Leasing Association
Business Reports
Sterling Bank Leasing a division of Sterling National Bank
Robert Krause
48 contiguous states
App Only up to $150,000.
  Y N

(XX) Sterling Bank Leasing a division of Sterling National Bank; please contact us for rates and credit parameters. While we prefer to work with Lessors who will discount with us we will accept experienced brokers. We do not accept broker to broker referrals.

To view the complete list please, click here.



Broker/Lessor List up-dated: GCR Capital Equipment Leasing

This is one of the few equipment leasing companies founded and operated by a woman, very successful, too; seems to live on her blackberry, very active in the growth of her company.

"Broker/Lessor" List

Third Column: YES - Year Company Started | YELB - Years in equipment Leasing Business

Business Reports: Companies listed may make any netiquette comment about their company or reports or other information in the footnote section of their listing. Leasing News recommends readers also view the footnote as well as the section itself or searching reports on the business.

It also should be noted that if a BBB report listing is found by a reader, as there may not have been one when this was last up-dated, please send the link to so Leasing News may up-date this section.

BBB - Better Business Report | CBB - Leasing News Complaint Bulletin Board
| CNI - Current News Information

A - City Business License | B- State License | C - Certified Leasing Professional |
D - State(s) sales/use tax license |
E -
Named as "lessor" on 50% or more of lease contract signed. |

City, State
Leasing Association
(see above for meaning)
# of Empl.
Geographic Area
Sevice Organizations
GCR Capital
Safety Harbor, FL
Judy DiVincenzo, Pres.
Typical Range 10K to 150K

To view the complete list, please click here.



Bank of the West Expands Back Office Operation

Portland, Oregon --- Bank of the West announces that Eric Gross has joined its Equipment Finance Division as Vice President and Director of Managed Services, where he will head up the commercial 3rd party servicing group. The hiring further emphasizes Bank of the West’s commitment to the managed services business.

"I am very pleased that we were able to bring someone of Eric’s caliber and experience in third-party portfolio servicing." said Jerry Newell, executive vice president of Equipment Finance. "Bank of the West has long been a provider of third-party portfolio servicing. We are committed to this segment and under Eric’s leadership we will aggressively pursue this market.”

Jerry Newell

"Bank of the West entered third party servicing to the equipment leasing and finance industry with its acquisition of Trinity Capital in 2002," according Newell. “We currently have a number of third party servicing customers, but recently we had not been actively developing new customers. As part of Bank of the West’s commitment to grow this business, it makes sense to further expand this business with an additional office in Portland, where there is a wealth of experience and talent in the equipment leasing and finance industry."

"I am very pleased that we were able to bring someone of Eric’s caliber and experience in third-party portfolio servicing," he added. "Bank of the West is committed to this segment and under Eric’s leadership we will aggressively pursue this market.

”The commercial third-party servicing industry is quickly maturing,” Gross said, “with the market gravitating towards servicers with substantial financial strength and infrastructure. Many people are unaware that our group has provided 3rd party portfolio servicing since 1989. I very much look forward bringing superior services to the market place.”

Founded in 1874, $55.6 billion-asset Bank of the West ( is the third largest commercial bank by assets based in the Western U.S. Bank of the West offers a full range of business, corporate, personal, trust and international banking services and currently operates more than 700 branch locations and commercial banking offices in 19 Western and Midwestern states.



Back Office Companies

Advance Property Tax Compliance Group 88 Systems, Inc. Phoenix Leasing Portfolio Srvcs., Inc.
Barrett Management Corp. Haws Consulting Group Portfolio Financial Servicing Co.
Bank of the West JDR Solutions U. S. Bank Portfolio Services
ECS Financial Services LeaseDimensions, Inc.
Globaltech Portfolio Services OutSourcing Solutions Group, LLC


Company Name
Year Founded

Web site



Additional Services Offered

Yearly Volume


Major Clients

Portfolio Financial Servicing Company (f)
Robert VanHellemont
App Entry, credit scoring, Documentation, remittance processing, sales and property tax services, UCC, Titling, Collections, Cust Servic lease and loan accounting
United States
Contact us for client list
U.S. Bank Portfolio Services
1994 (h)
Joe Andries
Document preparation, UCC Filing, Titling, Insurance Tracking, Customer Service, Collections, AR, AP, Sales & Property Tax Management, General Ledger Tracking, and Reporting.
United States
Contact us for client list
Phoenix Leasing Portfolio Services, Inc., a subsidiary of Phoenix American Inc. (d)
Gus Constantin
Documentation, remittance processing, sales and property tax services, lease and loan accounting, default management
United States
Contact us for client list
Bank of the West Equipment Finance - Managed Services Group
1989 founded as Trinity
(2002 purchased by Bank of the West)
Eric Gross
Director - Managed Services Group

Bank of the West
401 Southwest Fifth Ave
Portland, OR 97204
Office (503) 225-1607
Fax (503) 225-1751
Mobile (503) 840-5165
80 -In Servicing
Eric Gross

Complete Primary & Backup Servicing solutions for independent Lessors and captive finance companies.


United States

Providing 3rd party servicing since 1989

LeaseDimensions, Inc.
Bill Allen
Third Party Back-Office Servicing
Origination Servicing
Data Conversions & Systems Consulting
ASP Lease Administration & Origination
Back-up Servicing
US / Australia
Third Party Servicing and ASP Clients include 6 Fortune 500 Companies. Other clients are bank lessors, captive finance companies and independent lessors 
GlobalTech Portfolio Services
H. Byrd
Collections, Sarbanes-Oxley Consulting, Business Process Consulting, IT Security Consulting
Coca-Cola Financial Corporation, Affiliated Computer Services, Optimus Financial Services.
JDR Solutions (c)
Alan J. Zeppenfeld
Director - Business Development
(ASP) lease management software hosting, portfolio servicing, project management, consulting
Major manufacturing captive finance organizations, regional bank leasing company, specialty finance organization. 3,500-5,00 contracts managed.
Group 88 Systems Inc. (b)
Malcolm Tennant
IT Consulting,
Implementations, Migrations,
Data Conversions,
Custom Reporting,
Oursourced System Support
Confidentiality Agreements
Advanced Property Tax Compliance
2004 (G)
Gary A. DiLillo
Property Tax Complience
See footnote (G)
Haws Consulting Group
1901 So. Bascom Ave. Suite 1050
Campbell, CA 95008
Office: 408.369.7272
Cell: 408.375.1223
Fax: 408.369.7270 (i)
Raymond V Haws, CEO
Lance A. Hulsey, VP
Property Tax Services
Barrett Management Corporation (a)
Barry Corn
Financial Institutions; not permitted to disclose names
Broker Resource Solutions, LLC (j)
Vickie L. Rocco
Lease Broker support services including: Funding package coordination & preparation; deal structuring and other support services as requested by our broker clients.
United States
ECS Financial Services (e)
(formerly Edwin C. Sigel , Ltd.)
Nancy A. Geary,
Certified Public Accountants and Portfolio Management Services
OutSourcing Solutions Group, LLC.
Matt Mcfarland
Property Tax Administration, Sales and Use Tax Administration, and Property Tax Consulting

(a) Barrett offers proactive lease management/administration of commercial/consumer vehicles and lease/finance portfolios, covering insurance, titles, registrations, sales/property taxes, tickets, collections, repossessions, vehicle transportation and dispositions. Since 1975.

(b) Group 88 is a business partner of McCue Systems Inc, maker of LeasePak. With over 20 years supporting major firms in the leasing industry, Group 88 provides data conversions, system implementations, custom software development and outsourced system support.

(c) JDR Solutions, LLC., based in Indianapolis, Indiana provides back office lease/loan administration services and hosting of related accounting and portfolio management software.

Under a preferred partnership arrangement with International Decision Systems (IDS), JDR Solutions offers its "Managed Service" solutions utilizing the robust capabilities od Infolease and related software applications. JDR will soon offer IDS's next generation software, Profinia, in a hosted environment.

For more information about JDR Solutions, visit or call:

Paul Henkel, Director of Marketing
317-251-5352 X7201

(d) We also offer specialized programs for banks which want to start their own leasing operations and for vendors who want to find financing or act as lessor for their customers. We also act as a broker for end users looking for commercial equipment financing.

Sharon Litwin
Vice President
Phoenix Leasing Portfolio Services, Inc.
2401 Kerner Boulevard
San Rafael, CA. 94901
(800) 227-2626 ext. 4637

(e) ECS Financial Services, Inc. is one of only a few CPA firms in the United States that specializes in providing portfolio management, accounting, tax and management advisory services to the equipment leasing industry.  ECS Financial provides lease management services including accounts receivable billing and collections, preparation of monthly lease income and residual schedules, book and tax depreciation tracking, as well as guidance and a variety of useful management reports to assist management in making sound financial decisions.  ECS Financial offers accounting and financial statement compilation, review and audit services, as well as multiple state sales tax preparation, federal and state income tax return preparation, and personal property tax preparation and tracking.  Our lease management team of accountants and tax specialists are experienced in providing quality professional service in the management of lease portfolios, and their efforts are enhanced by the state of the art, industry-specific software we utilize.

ECS Financial serves clients throughout the United States .

The name has changed, but the quality service remains the same!
Nancy A. Geary, CPA, CLP
ECS Financial Services, Inc.
Certified Public Accountants and Portfolio Management Services
847-291-1333 phone
847-291-1190 fax

(f) PFSC is the largest independent commercial lease and loan-servicing company is the U.S. and is headquartered in Portland , Oregon .  PFSC provides primary/master servicing, backup/successor servicing, and consulting for lease and loan portfolios.  It currently manages over $14.0 billion in assets.  More information can be found at

(g) Advanced Property Tax Compliance provides "best in class" personal property tax compliance services at cost effective fees. Our staff has over 60 years of experiance working with leased assets. We do complete compliance process and can tailor our service to each Lessor's unique needs, including invicing. The billing files we create interface with all lease management and accounting software. We offer our clients full disclosure, more accessibility to information, and greater on-line functionality than any other service firm in the industry. Each client has a secure FTP site where they have access to everything we do for them in the compliance of personal property taxes. Our Web Portal allows our client’s customer service departments to get up-to-the-minute tax data for buyouts, terminations, or tax bill copies and detail tax reports to support collections.

Major Clients include; LaSalle System Leasing, Evans Leasing, Summit Funding Group, Merrimak Capital, IFC Credit Corp., Greater Bay Capital, Highland Capital, Telerent Leasing, Main Street National Bank, Blackstone Capital, SolarCom World Holdings, Matsco Financial Services, Bayer Healthcare, Altec Capital, Alabama Banker's Bank, Outsource Lease, Vision Financial, VenCore Solutions, Aztec Financial, Evans National Bank

For more information about Advanced Property Tax Compliance, visit or call:

Gary DiLillo
(216) 658-5618

(h) U.S. Bank Portfolio Services provides third party solutions and back-up/successor servicing.  Third party clients are able to focus on core competencies and avoid the expenses of creating a back office environment by outsourcing their servicing platform.  U.S. Bank Portfolio Services adds security and protection as a back-up service provider with the ability to convert any portfolio in seamless manner through advanced preparation.  

(i) Haws Consulting Group - "We have been in business since 1982 and provide property tax consulting and outsourcing services to a variety of different types of companies. We have a strong leasing background and have provided property tax management services to leasing companies for over 20 years." For more information please see our Brochure and Case Study.

(j) Broker Resource Solutions (BRS) offers document processing support services to the equipment lease broker community. Our clients are able to focus on their core business - selling and building their client list - while we handle all of the tedious details associated with putting together a perfect funding package.

Broker's who work with us have on-demand access to a highly experienced, qualified staff on an "as-needed" basis. Since we are happy to work either on a single transaction or under contract, our clients are freed from the high overhead associated with finding, hiring and training processing employees.

We work on our client’s behalf to coordinate with the lessee, vendor, insurance agent(s), funding source and any other parties necessary in order to develop and submit funding packages that are complete and fund quickly. Our extensive experience on the funding side of the business allows us to identify and resolve potential issues that can delay funding and result in lost deals. We invite you to explore our website at and contact us if you have any questions or would like more information on how to get started.

Vickie Rocco
Chief Executive Office
Broker Resource Solutions, LLC
(913) 314-9038



Leasing Industry Help Wanted

Assistant Manager

Assistant Manager
San Francisco, California

Excellent opportunity to work with growing equipment leasing bank division, excellent reputation. Click here for more information.

First Republic Bank has offices in the San Francisco Bay Area, throughout California, and in Portland, Seattle, Las Vegas, Boston and New York.

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.



Sales Make it Happen

by Linda P. Kester

"Inactive Vendors"

This is from Linda Kester book to be published in April by It is designed to not only be a reference, but a "daily reminder." Some of the subjects are a few paragraphs, some are longer, such as this one on how to win back your vendor. These articles are from her first draft, and some of the titles and copy has changed in the final revision.


Lure back lost vendors.

Businesses lose vendors every day. But the real tragedy is that many don't take the time to lure back regulars who have disappeared, thinking it's a lost cause.

Defecting customers don't disappear into a black hole. They're out there somewhere doing business, probably with your competitors. You can---and should---reach out to lost customers. Show them you care and make an effort to woo them back to your business. Here's what you can do:

  • Act fast. Keep tabs on vendors, noting the last time you heard from them. The sooner you realize a customer is missing in action, the faster you can start to win him back. It's simple as that.
  • Make a peace offering. Send your list vendor a note. Don't write "Why haven't you sent any applications in lately?" Make if a "just checking in" letter. You can even include a coupon to entice the customer to come back. Make sure you consult with your manager to see what you can offer your "customer gone astray."
  • Find out why the vendor left. You shouldn't feel uncomfortable calling customers to ask why they decided to end their relationship with your organization. You 're actually accomplish two things: (1) finding out what went wrong so you can correct things for future customers; (2) showing your lost customer that you are willing to go to the extra mile to find out what went wrong.
  • Fix the problem. Many customers defect because they don't realize their business matters to you. Change that. When you contact a customer who left your company because he was dissatisfied with the service he received recently. apologize and work quickly to correct the situation. Even if the customer still decides to stop doing business with you, he may tell friends about the extra efforts you made---the best free advertising your organization can get.
  • Stay positive. If a past customer complains to you about your company, you don't have to say "Yes. sir, I agree." Instead, interject positive statements into a negative conversation. Examples:"I am happy you are telling me this." "Wow, I had never thought of it that way. That is very interesting." " I appreciate your candor, sir."
  • Get the scoop on your competition. If your customer isn't doing business with you , where did he take his business? It's your job to find out. The way to do that is to simply ask. Then find out what that company has to offer that yours doesn't. You can research that on your own or ask your customer directly. Examples: "Is there any particular service Trust Bank provides that our organization doesn't?" "Tell me what you like about them."

In short, learn from your vendors' complaints. It's worth the time and effort to lure back lost customers. And when they return, make a special effort to keep them satisfied so they won't go astray again. If things were not going well for them and they struggled during a downturn, be there when they ride the wave up.

Linda Kester helps leasing companies increase volume. For more information, visit: Questions, contact:


Imagine--a tip a day! Great to energize sales and marketing professionals, as well as discuss/brainstorm at sales meetings.

Soon to be available at



Saratoga Art Show - 6 May 2007

Sirmone, Italy

Artist Stan Beckman will be appearing at the Saratoga Art Show, West Valley College, Saratoga, California, Sunday May 6, 2007 from 9am to 5pm. Admission is free.

Over 175 artists will be presenting.

Prints and originals:

More about the Saratoga Art Show:



CMC/Netbank: Perfecting Interest in a Lease

David G. Mayer, Esq.
(Perhaps best known as the author of “Leasing for Dummies.”

David G. Mayer's "Business Leasing and Finance News" March edition is out, with a very interesting story on Commercial Money Center (CMC) and NetBank, regarding the perfection of interest in a lease.

Perfecting your interest in a lease is very important to you and your underwriters. In this article by David Mayer, here a case regarding CMC Leasing that is sent back to determine whether the bond issuers held collateral as agent for NetBank and thus was NetBank's interest "perfected." At one time there was over $47 million in receivables,
and perhaps today, after write-offs, it is under $40 million. Their December 31, 2006 year-end found a net loss of $202 million and a loss of $4.36 a share for the year, compared with a net loss of $180,000 and break-even earnings for 2005.NetBank ended the year with $3.7 billion in assets, compared with $4.8 billion in assets at the end of 2005. The CMC leases would have been helpful to their
bottom line.

It appears from this article by David Mayer in his internet newsletter warns financiers that they should "...diligently protect themselves from this kind of outcome by doing precautionary filings, clear agency agreements to hold collateral, and classify collateral properly, to avoid the NetBank saga and expense:."

3. BLFN Case & Comment: Chattel Paper Surprise in Netbank FSB v. Kipperman

In a case of first impression, a Ninth Circuit Bankruptcy Appellate Panel ruled on critical issues affecting securitizations and syndications of lease rental payments. In re Commercial Money Center, Inc. (Netbank FSB v. Kipperman), Bk. No. 02-09721 (Amended Opinion, Aug. 25, 2006) (Netbank), the Court focused on the characterization, perfection, sale and financing of lease rental payments stripped from leases (chattel paper) under the Nevada Uniform Commercial Code. See Nev. Rev. Stat. Chapters 104 and 104A (UCC). Deal makers and lawyers can gain clear direction on, among other points, how to identify and prevent identifiable errors in closing and making correct UCC filings in these transactions.

BACKGROUND: Commercial Money Center, Inc. (CMC) leased equipment to lessees with sub-prime credit. CMC then assigned to banks, such as Netbank, the rights to receive the rental payments from pools of the leases. In Netbank’s case, the pools amounted to an original asset cost of more than $47 million. To enhance the credit of the lessee and attract purchasers of the rental payment streams, CMC acquired surety bonds and assigned rights to the bonds to banks, including Netbank, as security for the receipt of the lease payments. CMC purported to sell the lease streams and continued to service the underlying lease transactions under an agreement called a “Sale and Servicing Agreement” (SSA).

The SSA contained inconsistent and confusing loan and sale language regarding the nature of the assignment of the lease rental streams to Netbank. For example, in Section 2.1(c), the SSA provided that “each assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security” of the leased assets. In Section 2.10 the tax characterization, however, the SSA provided that the amounts payable to Netbank will “qualify [under tax law] as indebtedness [of CMC, as debtor] secured by Leases and other assets… .” Many other sections contained similar contradictory language. Further, the SSA indicated that CMC made the assignment on a non-recourse basis to Netbank. The SSA used terminology like a non-recourse secured loan. Finally, at the end of the period of payments of “principal” and “interest”, Netbank had to reassign whatever interest it had to CMC. “In other words, Netbank (1) [had] none of the potential benefits of ownership and (2) [was] contractually allocated none of the risk of loss,” according to the Court.

Under Section 2.1(b) of the SSA, Netbank required CMC to perfect CMC’s interest in the leased equipment, file financing statements under the UCC, assign the financing statements to Netbank under Section 10.2(a) of the SSA (as secured party), and affix a legend to the leases Section 10.2(e) of the SSA indicating Netbank’s interests. CMC also agreed to take other actions to assure the proper issuance of the surety bonds under Section 2.7(g) of the SSA. CMC did not complete these tasks necessary to perfect Netbank’s interests. As a result, Netbank did not have a perfected security interest in the lease rental streams.

The Bankruptcy Court initially reviewed the transaction in connection with a challenge by the trustee for CMC’s bankruptcy estate (Trustee) to the perfection of the interests of Netbank in the lease rental streams. The Bankruptcy Court ruled that the payment streams assigned to Netbank constituted “chattel paper.” In the alternative, it found that if the leases did not constitute chattel paper, Netbank did not achieve automatic perfection of its interests in the lease streams as payment intangibles under UCC §9-309(3) because the transactions were loans rather than sales.

*Technical Point: Automatic perfection can occur when the assignment constitutes a sale and not just a secured loan pursuant to UCC §104.9309(3).

ISSUES: Did the payment streams constitute “chattel paper” within the meaning of UCC Article 9? Were the assignment transactions loans or sales?

OUTCOME/DECISION: The Court overturned the Bankruptcy Court finding that the payment streams assigned to Netbank constituted chattel paper. Instead, it held that the payment streams assigned to Netbank were “payment intangibles” under UCC Article 9. The payment of funds by Netbank to CMC did not qualify as a sale, entitling Netbank to automatic perfection in the lease streams as collateral. Rather, the transactions were loans, secured by the lease streams, chattel paper and surety bonds. Perfection of these security interests did not occur by filing based on undisputed facts in the case.

LAW OF THE CASE: The perfection rules of Revised UCC Article 9 apply to security interests for loans and to sales of chattel paper and payment intangibles. UCC §104.9109(1)(c) states, with inapplicable exceptions, “this article applies to . . . (c) a sale of accounts, chattel paper, payment intangibles, or promissory notes.” A security interest includes the interest in chattel paper, payment intangibles and accounts under UCC §104.9309(3).

*Terms to Know: A “Debtor” means: (1) A person having an interest, other than a security interest or other lien, in the collateral, whether or not he is an obligor; (2) A seller of accounts, chattel paper, payment intangibles or promissory notes. ... UCC §104.102(bb). “Security interest” means an interest in personal property or fixtures which secures payment or performance of an obligation. “Security interest” includes any interest . . . a buyer of accounts, chattel paper, a payment intangible . . . in a transaction that is subject to Article 9. “Security interest” does not include the special property interest of a buyer of goods on identification of those goods to a contract for sale under UCC §104.2401, but a buyer may also acquire a “security interest” by complying with Article 9. . .. “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See UCC §104.2401(ee) . (k) “Chattel paper” means a record or records that evidence both a monetary obligation and a security interest in or a lease of specific goods or of specific goods and software used in the goods, or a security interest in or a lease of specific goods and a license of software used in the goods. . ... UCC §104.102(k). A “general intangible” means any personal property other than account, chattel paper, and various payment intangibles. See UCC §104.9102(1)(pp). A “payment intangible” is a general intangible under which the account debtor’s principal obligation is a monetary obligation such as payments of rentals stripped from a lease. See UCC §104.9102(1)(hhh).

Few security interests can be perfected automatically. A sale of a payment intangible is one of them under UCC §309(3); it is perfected when the security interest in the payment intangible “attaches.”

*Technical Point: Under UCC §104.9203 “(1) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. With exceptions, “(2) a security interest is enforceable against the debtor and third parties with respect to the collateral only if: (a) Value has been given; (b) The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (c) One of the following condition[s] is met: (1) The debtor has authenticated a security agreement that provides a description of the collateral . . ..” See also UCC §104.9308 and UCC §104.9310(1).

For automatic perfection by attachment, CMC, as debtor, had to sell the lease rental streams to Netbank, as secured party. However, the Court and the lower Bankruptcy Court both found that the assignment to Netbank did not result in a sale because the transaction possessed the dominant characteristics of a secured loan, including loan language and rights functionally typical of loans. Therefore, the Court held that Netbank did not perfect its interests in the lease rental stream automatically by attachment.

Netbank could also perfect its security interest in the lease receivables upon filing of a UCC financing statement or, in the case of the chattel paper, either by filing or by taking possession of the chattel paper. See UCC §104.9310(1). Netbank relied on CMC to take certain actions to file the UCC financing statements to perfect Netbank’s security interest but, according to the undisputed facts, CMC failed to make the UCC filings.

Netbank had only one last method to perfect its security interest in the chattel paper: take or have another authorized person take possession of the leases on its behalf in a manner legally sufficient to be an agent for Netbank for such purpose. In detailed discussion, the Court construed the definition of chattel paper as evidence or a record of monetary obligations. It then concluded that the payment streams once separated by CMC from the leases and assigned to Netbank did not evidence a payment stream or create a record. It concluded: “Payment streams stripped from the underlying leases are not records that evidence monetary obligations – they are monetary obligations.” Opinion at 15. It also classified the rental payment stream: “When stripped from the chattel paper they are payment intangibles.” Opinion at 20. In doing so, it distinguished a transfer of chattel paper which carries the rights and benefits of the underlying transaction. CMC separated the payment stream from the chattel paper in this case. Opinion 19-20.

Because of factual issues, the Court remanded the case on the issue of whether Netbank perfected by possession. (The potential for such perfection could occur by the surety bond company holding the chattel paper leases on behalf of Netbank.) The Court clearly stated that CMC, as debtor, could not hold the leases for Netbank as a basis of perfecting Netbank’s security interest.

*Comment: The decision of the Court is highly technical, but has important consequences for how parties structure and close securitization and syndication transactions. The secured party or purchaser in Netbank’s position can avoid these issues and fulfill the requirements articulated in the case if the secured party:

Files UCC-1s itself or through its counsel to assure filings are done and tracked;

Drafts service or similar agreements with consistent language of sales or financing language consistent with the true intent of the parties;

Allows no debtor to act as an agent to hold chattel paper (such as the only “original” of a lease);

Uses an agent in a three-party agreement to hold originals of leases or other chattel paper if good and valid reasons exist for the purchaser/financier not to hold them; and

Handles small transactions (in dollar amount) as important enough to complete the steps for perfection or not do these transactions without the Netbank risk in mind.

Lessors must assume that a trustee in bankruptcy will use its strong-arm powers to set aside preferences and to find weaknesses in transactions, including unperfected security interests. Those involved in significant securitizations and syndications generally recognize this risk and understand the importance of complying with UCC rules. The key lesson of this case is that each financial institution that buys or finances lease rental streams should not neglect or agree to allow most lessees/debtors to file UCC financing statements or to comply with other obligations relating to perfecting security interests for the secured party, as apparently occurred in this case, regardless of the size of the lease transaction. As Netbank discovered, small transaction problems can lead to large legal fees, financial losses and unproductive management time.

March Edition
(You may sign up to subscribe to the Monthly newsletter)

David G. Mayer is a partner at the law firm of Patton Boggs LLP and Founder of BLN.
You may contact David at 214-758-1545 or


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

Key Equipment Finance names Kevin Libert Vice-President, Business Development

SUPERIOR, CO. – – Key Equipment Finance, one of the nation’s largest bank-affiliated equipment financing companies and an affiliate of KeyCorp (NYSE: KEY), has named Kevin Libert as vice president and business development manager specializing in construction equipment. In this role, Mr. Libert is responsible for identifying new construction equipment clients and developing vendor programs for Key Equipment Finance’s Construction and Industrial operation. His office is based in northern California.

“During his 20 years’s experience in the finance field, Kevin has gained a strong command of the construction equipment market,” said Jeff Enoch, sales director, Construction and Industrial segment, for Key Equipment Finance’s global vendor services group. “He is an experienced P&L manager who is adept at identifying and developing new market opportunities that will expand sales volume and ROE.”

Prior to joining Key, Mr. Libert was vice president at Peoples Capital & Leasing where he focused on the national construction market as well as regional transportation and printing markets. He was previously director of sales for the west region at Terex Financial Services and had been vice president and business development officer for US Bancorp Equipment Leasing. Mr. Libert earned his bachelors of science degree in business administration from California State University, Hayward. He is a member of the Equipment Leasing and Finance Association (ELFA) and the Association of Equipment Distributors (AED)

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
· businesses of all sizes in the U.S. and Canada (from small business to large corporate);
· equipment manufacturers, distributors and value-added resellers worldwide;
· federal, provincial, state and local governments as well as other public sector organizations; and
· lease advisory services for manufacturers’ captive leasing and finance companies.

Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $13.1 billion equipment portfolio with annual originations of approximately $6.4 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois; Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.


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

MicroBilt Announces Release 3.7 and Debuts New Consolidated Site

New Site Consolidates Brands into Single Destination for All Products

KENNESAW, GA – – MicroBilt, the single source and industry leader for risk management information, announces the debut of Release 3.7 and the completion of phase 1 of its brand and site consolidation project. Release 3.7 launches the new site that transitions, and Integra Info to and presents all MicroBilt product offerings together, through one site.

MicroBilt’s credit data access and its flagship product offered under the CreditCommander name, evolved from land line credit reporting terminals sold in the 70’s and 80’s, to software in the 90’s to a robust web based application with over 150 reports and 40 databases sold to over 90,000 users today. MicroBilt’s significant evolution with credit data and the addition of many new products, services, acquisitions and Internet technologies over the years increased the number of web sites under MicroBilt Corporation.

In an effort to minimize the requirements of maintaining multiple sites and user interfaces, the time has come for consolidation. The new site incorporates all of the product offerings under MicroBilt and hosts navigation that provides a more user-centric, intuitive and fluid experience.

“Consolidating our brands under the MicroBilt name enables our company to increase our marketing and sales presence and better positions our company for growth,” said Walter Wojciechowski, CEO and President of MicroBilt. “As we approach our 30 year anniversary in 2008, MicroBilt is positioned as a stronger, more powerful brand, continually meeting the needs of our customers.”

In addition to the brand consolidation and site redesign, Release 3.7 offers new innovative identity authentication and verification solutions that identify and prevent identity fraud at inception. These products include Fair Isaac’s new Falcon ID products, as well as an ID Authenticate product that prompts ‘out of wallet’ questions known only to the true applicant. Qsent, the leading authority in the use of telephone contact information as an authenticating source of identity, was also added. These latest verification and authentication products offer MicroBilt customers exclusive access to an abundance of identity confirmation data.

About MicroBilt
MicroBilt is an industry leader in risk management information and a single source provider for credit bureau, collections and screening data access and retrieval. MicroBilt is certified through and provides interfaces with the three national consumer credit bureaus, Equifax (NYSE: EFX), Experian (London Stock Exchange: EXPN) and TransUnion and three commercial bureaus, D&B, Experian and Equifax Business, as well as LexisNexis, eFunds Corporation (NYSE: EFD) and ChoicePoint (NYSE: CPS). Along with this data access, MicroBilt also offers the latest in authentication and identity fraud prevention technology and delivers it via the Internet at, a system's integration toolkit, dedicated terminals and dial-up software.

MicroBilt also enables credentialed companies to enhance their web site content offerings by delivering a private labeled site to their established online communities. For more information, please contact MicroBilt Corporation, 1640 Airport Road, Suite 115, Kennesaw, GA, 30144 or Telephone: 1-800-884-4747.


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

Maplesoft Strengthens Presence in the Financial Service Industry with Modeling Toolbox

Designed specifically for quantitative modeling and analysis

Waterloo, Canada; MaplesoftT, the leading provider of high-performance software tools for engineering, science, and mathematics, announces the launch of the MapleT Financial Modeling Toolbox, a collection of tools for mathematical finance. The toolbox supports a wide range of common tasks such as equity price modeling, cash flow analysis, option pricing, term structure analysis, and simulation.

The Maple Financial Modeling Toolbox complements Maple's multi-disciplinary environment with over 100 new commands, designed specifically for quantitative financial modeling and analysis. These can be combined with existing Maple tools - including ODE and PDE solvers, statistical data analysis optimization, and automatic code generation to C, FORTRAN, Visual Basic, and Java - to produce analytical applications and product prototypes in the Maple interactive document interface.

"Traders, quantitative and market analysts, as well as risk and portfolio managers can now use the power of symbolics in financial modeling to their competitive advantage," said Jim Cooper, President and CEO, Maplesoft. "The Maple Financial Modeling Toolbox provides an environment for developing solutions, where manual mathematical manipulation is essentially eliminated. Customers can automatically derive models faster and more accurately than with numerical tools alone."

Key features of the toolbox include:
. Interactive technical document interface, with intuitive 2-D equation editor for capturing and reusing knowledge as an informational asset
. Tools for creating and analyzing term structures of interest rates
. Stochastic processes and simulation, and symbolic tools for manipulating stochastic variables
. Short-rate models and analytic formulas
. Full access to Maple functionality including closed-form and numeric ODE, PDE, and DAE solvers, in addition to linear and non-linear optimization
. Lattice methods, tools to construct binomial and trinomial trees

When applied effectively, a financial model can help prevent major planning errors and provide strategic guidance. Using a computer-based system like Maple enables users to build models from first principles, manage calculations, and simplify documentation of results.

Pricing and availability:
The Maple Financial Modeling Toolbox is available for $995 USD. Academic and volume discounts are available. The toolbox is available directly from the Maplesoft Web Store and via Maplesoft Sales at 1-800-267-6583. Outside of the US & Canada, the toolbox is available from Maplesoft's reseller partners. A list of partners is available at

About Maplesoft
Maplesoft is the leading provider of high-performance software tools for engineering, science, and mathematics. Our product suite reflects our philosophy - given great tools, people can do great things. Maplesoft has transformed the way engineers, scientists, and mathematicians use math, enabling them to work better, faster, and smarter.

Organizations around the world have applied Maple in nearly every technical field including engineering design, operations research, scientific research, and financial analysis. Maplesoft's commercial customer base includes Allied Signal, BMW, Boeing, DaimlerChrysler, DreamWorks, Ford, General Electric, Hewlett Packard, Lucent Technologies, Motorola, Raytheon, Robert Bosch, Sun Microsystems, Toyota, and Tyco.

Maplesoft offers powerful and easy-to-use tools that save time and reduce errors.
. Maple solves complex mathematical problems and creates rich technical documents
. Maple Toolbox for MATLAB® combines the best in symbolic and numeric computation to develop mathematical solutions
. BlockBuilderT for Simulink® is a First Principles physical modeling environment that offers automated export to Simulink
. MapleNetT allows users to publish live Maple documents on the Web
. The Professional Toolbox Series provides domain-specific tools that focus the core Maplesoft products on discipline-specific applications
We believe that if you touch math, you need Maple. Visit to learn more.

For more information, please contact:
Tina George
519 747 2373 ext 352


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

News Briefs----

Aircraft & engine leasing: Heading skywards

More bank buyouts ahead

Barclays might be good fit for LaSalle Bank, Chicago,0,6091119.story?

Fed aims to steer course through slow growth, high inflation

Short-term T-bill rates fall; 1-year yield edges up

Parent of sub-prime mortgage lender files for bankruptcy

Oracle Says Profit Rose 35% to Exceed Expectations

PayPal Announces Nearly 35 Million Accounts in Europe

Bank of America CEO gets $92M in stock, options

Insurance Insight: Among mortgage guarantors, subprime is in the eye of the beholder

Horizon Air’s first flight from Seattle lands in Sonoma County

American Idol: 3/20: Who's crying now?

First visitors step onto canyon skywalk



You May have Missed---

UC, CSU graduates start at two-year schools, report says



California Nuts Briefs---

20 Lotto winners claim $72 million prize



“Gimme that Wine”

Business Owner Indicted in Vallejo Arson of Wines Central Warehouse

Wine Spectator Introduces “Top 100 Wines of 2006” for iPod® on

Chateau Souverain winery upgrades planned

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

Aries, The Ram March 21-April 19
In the astronomical/astrological zodiac, which divides the sun’s apparent orbit into twelve segments, the period March 21-Apr. 19 is identified traditionally as the sun sing of Aries, the Ram: The ruling planet is Mars.

California Strawberry Day

Children's Poetry Day - Valentine's Day Poetry by Homeschoolers

Iranian New Year: Noruz
National celebration for all Iranians.

Lesotho: National Tree Planting Day.

Memory Day
To encourage awareness of the traditional memory system.

Namibia: Independence Day
National Day. Commemorates independence form South Africa in 19909.

National Agriculture Day
A day when producers, agricultural associations, corporations, universities, government agencies and countless others across America gather to recognize and celebrate the abundance provided by Agriculture

National French Bread Day

National Common Courtesy Day
Citizens of our country reflect on what it means to demonstrate common courtesy.

Baha’i New Year’s Day.

Single Parent Day

Vernal Equinox Day (Europe)

Saint Festival Days



Baboons were once trained by Egyptians to wait on tables.

(Number 13 incorrect, but this so called fact has really been passed around the internet, as if it could be the "truth." Here
is a full explanation, including the limitations of physical limitations of baboons. It is a good example that so
many sites have it as a fact of trivia that it must be true. It isn't. )



Today's Top Event in History

1955 - No. 1 Billboard hit: ``The Ballad of Davy Crockett,'' Bill Hayes.


This Day in American History

    1595- Pocahontas, daughter of Powhatan born near Jamestown, VA; leader of the Indian union of Algonquin nations, helped to foster good will between the colonists of the Jamestown settlement and her people. Pocahontas converted to Christianity, was baptized with the name Rebecca and married John Rolfe Apr 5, 1614. In 1616, she accompanied Rolfe on a trip to his native England, where she was regarded as an overseas "ambassador." Pocahontas's stay in England drew so much attention to the Virginia Company's Jamestown settlement that lotteries were held to help support the colony. Shortly before she was scheduled to return to Jamestown, Pocahontas died at Gravesend, Kent, England, of either smallpox or pneumonia. According to the March edition of Atlantic Magazine, the Indians had no immune system to ward off European diseases, including smallpox and pneumonia.
    1713-birthday of Francis Lewis, signer of the Declaration of Independence, born at Wales. Died Dec 31, 1802, at Long Island, NY His house was destroyed by the British and his wife kidnapped, dying shortly thereafter, and he died in poverty, losing all his home and business to the British.
    1864-- Nevada and Colorado territories admitted into the Union.
    1865-- Battle of Bentonville ends, last Confederate effort to stop Sherman.
    1869-birthday of Florenz Ziegfield, legendary showman.
    1882-- birthday of Bascom Lunsford, folk song writer and folklorist who authored the folk song "Mountain Dew," Lunsford started the first folk music festival in 1928 at Asheville, NC. This event, which led to the formation of the National Clogging and Hoedown Council, is held to this day. He was known as the "father of clogging dance" and the "king of folk music." He recorded some 320 folk songs, tunes and stories for the Library of Congress. Born at Mars Hill, NC, Lunsford died Sept 4, 1973, at South Turkey Creek, NC.
    1910- American vintner Julio Gallo was born at Oakland, CA. He is best known for his role in the Ernest and Julio Gallo Winery, of Modesto, CA, which at one time claimed about 26 percent of the US wine industry. He died May 2, 1993, near Tracy, CA.
    1916-Frank James Marshall of New York City met 105 local players at the National Press Club, Washington DC. He played them all simultaneously, winning a total of 82 games, lost 8, and drew 15.
    1917- Loretta Walsh, age 18, of Philadelphia, Pennsylvania was sworn in as chief yeoman on this day. She is the first woman to become a petty officer in the U.S. Navy
    1918-pianist Sir Charles Thompson born Springfield, Ohio.
    1918-March 21-April 4: Second Battle of Somme, over 500,000 men lost their lives. General Erich Ludendorff launched the Michael offensive, the biggest German offensive of 1918, on Mar 21 with a five-hour artillery barrage. The Central Powers objective was to drive a wedge between the British and French forces and drive the British to the sea. Although they did not accomplish this objective, in the south they captured Montdidier and advanced to a depth of 40 miles. They managed to create a bulge in the front south of Somme and end what had effectively been a stalemate. The Allies lost nearly 230,000 men and the Germans almost as many in the Battle of Somme.
    1928 -- President Calvin Coolidge gives the Congressional Medal of Honor to Charles Lindbergh for his first trans-Atlantic flight.
    1932 - A tornado swarm occurred in the Deep South. Between late afternoon and early the next morning severe thunderstorms spawned 31 tornadoes in Alabama, Mississippi, Georgia and Tennessee. The tornadoes killed 334 persons and injured 1784 others. Northern Alabama was hardest hit. Tornadoes in Alabama killed 286 persons and caused five million dollars damage.
    1934-Babe Didriksen, perhaps the greatest women athlete of all time, pitched one inning of baseball for the Philadelphia Athletics in an exhibition game against the Brooklyn Dodgers. Babe hit the first batter she faced and walked the next. The third hit into a triple play.
    1938-Eddie Duchin, with Pat Normal vocal, records “ Ol’ Man Mose”
    1939 - A song, written by Irving Berlin in 1918 as a tribute by a successful immigrant to his adopted country, was recorded by Kate Smith for Victor Records on this day. Ms. Smith had introduced the song on Armistice Day, November 11, 1938, at the New York World’s Fair. It was a fitting tribute to its composer, who gave all royalties from the very popular and emotional, "God Bless America" to the Boy Scouts. The song became Kate Smith’s second signature after "When the Moon Comes Over the Mountain"; and the second national anthem of the United States of America
    1946-trombonist Dicky Wells Big Seven records “ Drag Nasty”.
    1946-One year before Jackie Robinson began playing major league baseball, Kenny Washington broke the NFL’s color line. Washington sighed a contract to play for the Los Angeles Rams.

    1952---Top Hits
Cry - Johnnie Ray
Wheel of Fortune - Kay Starr
Anytime - Eddie Fisher
(When You Feel like You’re in Love) Don’t Just Stand There - Carl Smith
    1955 - No. 1 Billboard hit: ``The Ballad of Davy Crockett,'' Bill Hayes.
    1956 - The 28th Academy Awards were celebrated at the RKO Pantages Theater, Los Angeles, California. Hosting the festivities were comedian/actor/singer/producer Jerry Lewis in Hollywood, plus actress Claudette Colbert and writer/producer/director Joseph L. Mankiewicz in New York City. "Marty", produced by Harold Hecht, was a big winner: Best Picture; Best Director (Delbert Mann); Best Actor (Ernest Borgnine); and Best Writing/Screenplay (Paddy Chayefsky). Best Actress was Anna Magnani for "The Rose Tattoo"; Best Supporting Actor was Jack Lemmon for "Mister Roberts"; Best Supporting Actress was Jo Van Fleet for "East of Eden"; and Best Music/Song to Sammy Fain (music), Paul Francis Webster (lyrics) for "Love Is a Many-Splendored Thing" from "Love Is a Many-Splendored Thing". 1955 was a great year for other great movies, too: "Picnic"; "Bad Day at Black Rock"; "The Man with the Golden Arm"; "Rebel Without a Cause"; "Pete Kelly’s Blues"; "The Court-Martial of Billy Mitchell"; "The Seven Little Foys"; "Blackboard Jungle"; "To Catch a Thief"; "The Bridges at Toko-Ri"
    1960---Top Hits
The Theme from "A Summer Place" - Percy Faith
Wild One - Bobby Rydell
Puppy Love - Paul Anka
He’ll Have to Go - Jim Reeves
    1963-Alcatraz the world's most secure prison, closes. Only one man ever escaped the island in San Francisco Bay in 30 years -- only to be arrested when reaching the mainland.
    1964 - Singer Judy Collins made her debut at Carnegie Hall in New York City and established herself “in the front rank of American balladeers.” She would first hit the Top 40 in 1968 with "Both Sides Now", a Joni Mitchell song. Her versions of "Amazing Grace" and "Send In the Clowns" also became classics.
    1965- more than 3,000 civil rights demonstrators led by Dr. Martin Luther King, Jr., began a four-day march from Selma, Alabama, to Montgomery, Alabama to demand federal protection of voting rights. There were violent attempts by local police, using fire hoses and dogs, to suppress the march. A march two weeks before on Mar 7. 1965, was called "Bloody Sunday" because of the use of night sticks, chains and electric cattle prods against the marchers by the police. As a young news editor for KFRC radio in San Francisco, I interviewed live marchers, plus recorded interviews with sheriff spokesmen, who were surprised that a San Francisco radio station would be interested in the event and their comments were quite candid. I had interviewed Dr. King, Jr., several times, but he was at the lead of the demonstration and could not come to the telephone booth on the parade route. The marchers were also not allowed bathroom privileges, food and water were also a problem, and there was no television coverage in those days, plus film camera were held off by the local police. This was the beginning of true equality for Black people in all parts of the United States.
    1968---Top Hits
(Sittin’ On) The Dock of the Bay - Otis Redding
Love is Blue - Paul Mauriat
Simon Says - 1910 Fruitgum Co.
A World of Our Own - Sonny James
    1970 - The Beatles established a new record. "Let It Be" entered the "Billboard" chart at number six. This was the highest debuting position ever for a record. "Let It Be" reached number two a week later and made it to the top spot on April 11, overshadowing Simon & Garfunkel’s "Bridge over Troubled Water".
    1970-ABC" by the Jackson Five is released. The song is the group's second hit and also their second hit to go to #1!
    1973-Frank Mahovlich of the Montreal Canadiens scored the 500th goal of his career in a 3-2 victory over the Vancouver Canucks. Mahovlich finished his career with 533 goals and entered the Hockey Hall of Fame in 1981.
    1975 - No. 1 Billboard hit: ``My Eyes Adored You,'' by Frankie Valli. The song helps revive the careers of both Valli and his former group, the Four Seasons. The group has its fifth No. 1 single - ``December 1963 (Oh What a Night)'' - exactly one year after ``My Eyes Adored You.''
    1976---Top Hits
December 1963 (Oh, What a Night) - The Four Seasons
Dream Weaver - Gary Wright
Lonely Night (Angel Face) - Captain & Tennille
Faster Horses (The Cowboy and the Poet) - Tom T. Hall
    1980--President Jimmy Carter announces that, in response to the Soviet invasion of Afghanistan started in December 1979, the US will boycott the 1980 Olympics in Moscow. It is the only time that the US has boycotted the Olympics. It does not stop the Russians in Afghanistan and it hurts the Olympics.
    1981-New wave pop rockers, Blondie, enter the soul LPs chart with "Autoamerican," which peaks at #7 in 25 weeks on the chart. It has climed to #7 on the pop chart. One song off the album, "Rapture" is one of the first big crossover raps hits. It's goes to Number One for two weeks and another tune "The Tide is High" makes to the head of the class as well.
    1984 - No. 1 Billboard hit: ``Jump,'' by Van Halen. Eddie Van Halen writes the music for ``Jump'' two years before band member David Lee Roth agrees to write the lyrics and record it.
    1984---Top Hits
Jump - Van Halen
Girls Just Want to Have Fun - Cyndi Lauper
Somebody’s Watching Me – Rockwell
Elizabeth - The Statler Brothers
    1988 - Bitterly cold weather prevailed across the northeastern U.S. Portland ME reported their coldest spring day of record with a morning low of 5 above, and an afternoon high of just 21 degrees. Marquette MI reported a record low of 15 degrees below zero.
    1989-Madonna's "Like A Prayer" LP is released.
    1990 - The first full day of spring was a cold one for the eastern U.S. Freezing temperatures damaged 62 percent of the peach crop in upstate South Carolina, and 72 percent of the peach crop in the ridge area of South Carolina. Elkins WV, which a week earlier reported a record high of 82 degrees, was the cold spot in the nation with a morning low of 16 degrees.
    1994 - Actress/Comedienne Whoopi Goldberg hosted the 66th Annual Academy Awards show at the Dorothy Chandler Pavilion. The film that was created so the world would never forget the Holocaust -- the inhumanity of mankind to other humans -- received the highest honors this evening. The Academy of Motion Picture Arts and Sciences (AMPAS) awarded "Schindler’s List", nominated in no less than 12 categories, with seven Oscars: beginning with Best Writing/Screenplay Based on Material from Another Medium (Stephen Zaillian); Best Art Direction-Set Decoration (Allan Starski, Ewa Braun); Best Cinematography (Janusz Kaminski); Best Film Editing (Michael Kahn); Best Music/Original Score (John Williams); Best Director (Steven Spielberg); and culminating with Best Picture (Producers Steven Spielberg, Gerald R. Molen and Branko Lustig). "Schindler’s List" was not the only film to receive multiple golden statuettes. "Philadelphia" (nominated five times) scored two awards, Best Actor (Tom Hanks) and Best Music/Song, "Streets of Philadelphia" to Bruce Springsteen. "The Piano" (nominated in eight categories) won both Best Actress (Holly Hunter)and Best Supporting Actress (Anna Paquin), and Best Writing/Screenplay Written Directly for the Screen (Jane Campion); "Jurassic Park" received the Best Sound award (Gary Summers, Gary Rydstrom, Shawn Murphy, Ron Judkins), the Best Effects, Sound Effects Editing award (Gary Rydstrom, Richard Hymns), and the Best Effects, Visual Effects award (Dennis Muren, Stan Winston, Phil Tippett, Michael Lantieri). Tommy Lee Jones picked up the Best Supporting Actor award for "The Fugitive", a film nominated in seven categories.
    1992- intense snow squalls associated with a stalled cold front and a "norlun" instability trough buried Kennebunkport, Maine under 14 inches of snow in only 4 hours. Goose Rocks Beach reported an amazing two feet in the same time period. Portland, Maine recorded 4 inches of snow in just one hour with a total of 11.4 inches. Nearly 6 inches of snow fell in one hour in the Beverly, Massachusetts area, resulting in a 27 car pile up on route 128 and the closing down of the route for 1.5 hours.
    1995—Top Hits
Take A Bow- Madonna
Candy Rain- Soul For Real
Creep- TLC
Red Light Special- TLC
    1999 - the 71st Annual Academy Awards ceremony was hosted comedienne Whoopi Goldberg, who modeled the beautiful, and sometimes bizarre, costumes from the movies nominated in the Best Costume Design category. (And the Oscar went to Sandy Powell for "Shakespeare in Love".) Gwyneth Paltrow, emotionally accepted the Best Actress Oscar for her role in "Shakespeare in Love". The film with 13 nominations and seven wins including the upset win of Best Picture of the 1998 year; Best Supporting Actress (Dame Judi Dench); Best Writing/Screenplay Written Directly for the Screen (Marc Norman, Tom Stoppard); Best Art Direction-Set Decoration (Martin Childs, Jill Quertier); and Best Music/Original Musical or Comedy Score (Stephen Warbeck). This was the first time in nine years that the film that won Best Picture did not win for Best Director. Steven Spielberg was the winning director for "Saving Private Ryan" (which also won four more of the golden statuettes). Best Supporting Actor Oscar was awarded to James Coburn ("Affliction"), his first Academy Award nomination in over 70 films. It was the longest running Academy Award ceremony to date, including Sophia Loren , who said, “and the Oscar goes to Roberto!” (Best Actor: La Vita è bella - Roberto Benigni). In plain English, "Life is Beautiful". Roberto Benigni was the first actor in a foreign language film to receive an Oscar. Coincidentally, Ms. Loren had been the first actress to be so honored. Benigni had received an Oscar earlier in the evening for Best Foreign Film ("Life is Beautiful") when he pirouetted on top of seat backs, hopping and dancing to the stage.
    2000---Top Hits
Say My Name- Destiny s Child
Maria Maria- Santana Featuring The Product G
Amazed- Lonestar
Breathe- Faith Hill

NCAA Basketball Champions This Date

    1959 California
    1964 UCLA
    1970 UCLA



Spring Poem

I am forever walking upon these shores,
Betwixt the sand the foam.
The high tide will erase my foot-prints,
And the wind will blow away the foam.
But the sea and the shore will remain

Kahlil Gibran




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



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