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Monday, May 4, 2009

Actor/Singer/Songwriter Randy Bruce Traywick (Randy Travis) born May 4, 1959 Marshville, North Carolina. Grammys for Best Male Country Vocal Performance (1987 and 1988), Best Country Song (1988's "Forever and Ever, Amen") and Best Southern, Country or Bluegrass Gospel Album
(2004's Rise and Shine).


Classified Ads---Sales
    The $40,000 Church Kiosk
        Pugent Sound reason for $18.3MM Y/E Loss
Bank Beat—FDIC cost $1.3B loss in takeover
    Classified Ads---Help Wanted
Leasing Association Membership Down
by Christopher Menkin
    Leasing News Top Stories--April 27--May 1
Leasing 102 by Mr. Terry Winders, CLP
Residuals vs. Purchase Options
    Mortgage Rates lowest since 1971
        ELFA Legal Forum Excellence Award
ING Lease results marked by “sharp fall”
    Dell, HP - big market in smaller companies
    Trustee sues Madoff feeder fund mgr for $1B
News Briefs---
    You May have Missed---
        California Nuts Brief---
"Gimme that Wine"
    Today's Top Event in History
        This Day in American History
Baseball Poem
        Daily Puzzle
    Weather, USA or specific area
        Traffic Live----

National Association of Equipment Leasing Brokers Las Vegas
Conference story in Wednesday edition. Look for it May 6th.

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


Classified Ads---Sales

Cherry Hill, NJ
College grad seeking entry level sales position for equipment leasing and financing in small to mid-size ticket markets. Have 6 months experience in the industry and self-motivated. Contact Matt at 609-280-2178 or
email at

Fort Myers, Florida
Very experienced and strong skills with both Captive and Specialty Sales and  Sales Management. Over 20 years, will relocate and travel- successful and team player . 

Fresno, CA
Aggressive, competitive self-starter w/successful vendor/direct equipment
leasing and asset-based lending experience seeks return to leasing industry
after successful stint in business banking sales.

Minneapolis, MN
16 years leasing experience from micro to large ticket market, variety of equipment. Most recently calling on vendor telecom dealers in Upper Midwest.

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.334-590-5133

Many years of successful experience in niche leasing. Seek position with bank or other self-funded entity. Position and/or location secondary to company profile.

Orange County, CA
19+ years of successful marketing to the broker/lessor community representing one funding source owned by several parent companies.

Over 30 years of financing experience, resume posted at, phone 580-351-2531

Philadelphia, PA
Aggressive Sales Hunter with 10 plus years of story credit experience (B-D credit including start-ups) with a strong emphasis on building productive business relationships.

Philadelphia Metro Area - 30 Years experience Healthcare sales/ management- 3 years experience newly create "small-ticket" healthcare division. Good success - Mitch Utz 215-460-4483
Pittsburgh , PA
Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592

Pittsburgh, PA
Over 25 years of leasing experience including Captive, Dealer, Broker, and Third Party. Multiple equipment types. Seeking a Territory or National Sales position.

San Francisco Bay Area:
Business Development “Hunter” with transferable book of business in multiple segments: commercial construction, technology, fitness, etc. Years of managerial experience: can also be a “player/coach”.

Award winning commercial leasing salesman, middle market Georgia , Alabama , Tennessee , and Florida in addition to originating leases nationally. 26 years experience.
15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested.

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

To place a free “job wanted” Leasing News ad:

ELFA Career Center: Job Seekers ( free ):



The $40,000 Church Kiosk

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

Yes, this is the $40,000 church kiosk that Balboa Capital, Chesapeake Industrial Leasing and United Leasing of America approved. Their due diligence found this collateral leasable for a $40,000 48 month contract.

Fifty African-American churches on the East Coast, as well as 300 churches in Maryland, Michigan, Indiana, Ohio Wisconsin, Texas and California signed off on a $40,000, 48-month contract with Balboa Capital Corp. Irvine, California, United Leasing Associates of America of Brookfield, Wisconsin and Chesapeake Industrial Leasing of Baltimore as well as other leasing companies. The Michigan Attorney General has been active in the investigation and the Washington, DC Attorney General Peter Nickles filed papers regarding fraud, accusing Television Broadcasting Online, Inc. (TVBO) and its subsidiary Urban Interfaith Network, as well as the leasing companies involved.

The kiosks were to be in the church foyer, allowing members to access church information and community activities. Perhaps a bulletin board would have received more attention. The Kiosk monthly payment was to work out being “free,” being supported by advertisements. The churches relied on Television Broadcasting Online, after all they were backed by the leasing company as being legitimate, in addition they found the collateral having value? Why else would they enter into a so-called “partnership” with Television Broadcasting Online, Inc.?



Pugent Sound reason for $18.3 Year-end Loss

In the midst of litigation with the sellers of Pugent Sound Leasing, Bellevue, Washington, as well as various banks seeking intervention, and another suit involving twelve banks and the agreements regarding assigned leases, First Sound Bank restated its year-end to a $20.1 million loss. The bank claims $18.3 is related to the acquisition of Pugent Sound Leasing.

The bank also reported a $37,000 first quarter loss for 2009, and an $11 million decrease in assets to $247 million.

"Our situation is different from other banks," Don Hirtzel, chairman and CEO, said in a press release. "Our increased losses and reserves are primarily the result of alleged misrepresentations made by the owners of Puget Sound Leasing in how they portrayed their assets to us."

The press release from the bank quoted Steve Shaughnessy, president and COO, stating "... that while the litigation to recover from the former owners of PSL continues "we are taking numerous steps to minimize the effects on our future results. The executive team and board have taken cuts in compensation up to 20%, and a salary freeze has been imposed."

Senior Vice-President/Leasing Division Manager

He also pointed out that David Johnson, a new manager is in place at the leasing division and leasing underwriting standards have been tightened. He was vice president of credit and operations for Irwin Commercial Finance's Small-Ticket Leasing Division

The bank received $7.4 million under the terms of the Troubled Asset Relief Program (TARP), Capital Purchase Program in December, 2008.



Bank Beat—FDIC cost $1.3 Billion loss in takeover

America West Bank, Layton, Utah was closed by the Utah Department of Financial Institutions, become the 32nd bank to fail this year; the second in Utah. The FDIC made arrangements with Cache Valley Bank, Logan, Utah, to assume all of the deposits of America West and open their three branches under their name.

As of December 31, 2008, America West Bank had total assets of approximately $299.4 million and total deposits of $284.1 million. Cache Valley Bank paid a discount of $352,000 to acquire all of the deposits of the failed bank. In addition to acquiring the failed bank's deposits, Cache Valley Bank agreed to purchase approximately $10.9 million in assets, with a 30-day option to purchase loans at book value. The FDIC will retain any remaining assets for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $119.4 million.

Citizens Community Bank, Ridgewood, New Jersey, was closed today by the New Jersey Department of Banking, becoming the 31st bank to fail this year. The FDIC appointed North Jersey Community Bank, Englewood Cliffs, New Jersey, to assume all of the deposits of Citizens Community Bank. The bank's sole office will open up today, Monday, as a branch office.

As of December 31, 2008, Citizens Community Bank had total assets of approximately $45.1 million and total deposits of $43.7 million. North Jersey Community Bank paid a premium of 0.67 percent to acquire all of the deposits of the failed bank. In addition to acquiring the failed bank's deposits, North Jersey Community Bank agreed to purchase approximately $11.5 million in assets. The FDIC will retain any remaining assets for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $18.1 million

Perhaps the most costly take over this year (The FDIC estimates that the cost to the Deposit Insurance Fund will be $1.3 billion), the Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Silverton Bank, National Association, Atlanta, Georgia, after the bank was closed today by the Office of the Comptroller of the Currency (OCC). TIB-The Independent Bankers Bank, Irving, Texas, was contracted by the FDIC to provide operational management of Silverton Bridge Bank, N.A. TIB is owned by smaller banks and has more than 1,400 bank customers in 46 states.

Founded in 1986, Silverton Bank did not take deposits directly from the general public nor did it make loans to consumers. It was a commercial bank that provided correspondent banking services to its client banks, serving 1,500 small banks in 44 states and operated six regional offices.

The bank grew largely on providing lines of credit and other services to banks, but also by selling customers so-called loan participations, or pieces of larger loans parceled out into smaller chunks. Loan participations allow small banks in deposit-rich, loan-poor areas to grow by buying into loans from other areas. It provided a variety of services for its clients, including credit card operations, clearing accounts, investments, consulting, purchasing loans, and selling loan participations. Since the FDIC created a new bank to take over the operations of Silverton Bank, there is not expected to be any meaningful impact on the bank's clients.

Silverton was cooperatively owned by community banks throughout the Southeast. The bank was heavily invested in loans to real estate developments in Florida, Georgia, plus other parts
of the Southeast.

At the time of its closing, Silverton Bank had approximately $4.1 billion in assets and $3.3 billion in deposits, all of which are expected to be within the FDIC's insurance limits.

Silverton Bank is the 30th bank to fail in the nation this year and the sixth in Georgia this year; tenth within the last year.

List of Bank Failures:



Classified ads---Help Wanted

Leasing Account Executive


Seeking an experienced Leasing Professional who has:
  • a proven track record in the middle market arena
  • experience w/ customer & vendor programs
  • Home State Leasing Corporation, a subsidiary of Home State Bank, N.A., has been serving the needs of our clients since 1915.



    Like selling vendor programs and large transactions?
    Enjoy international financing programs?
    Prefer the advantages of a commission only environment with the security of health and welfare benefits?

    CLICK HERE to find out how to have fun again.



    Leasing Association Membership Down

    by Christopher Menkin

    End of year 2008 Membership Count:

    1021 National Association of Equipment Leasing Brokers (NAELB)
    700 Equipment Leasing and Finance Association (ELFA)
    289 United Association of Equipment Leasing (UAEL)
    265 Association of Government Leasing & Finance (AGLF)
    183 Eastern Equipment and Leasing Association (EAEL)

    It should not be any surprise to readers that when CIT, GE, and many other leasing and financial companies report business being down, the leasing association membership should be down, too. Especially when within the last year there are 32 companies no longer in the leasing business. This does not include changes in captive lessors or those who no longer accept indirect or broker business.

    End of March, 2009
    ( renewals of membership)

    The real surprise should be the drop in membership in the merger of EAEL and UAEL from a combined total of 472 t0 231.

    Leasing News had great difficulty in attempting to get the numbers from the management group now in charge of NEFA, starting April 16th; many emails, and telephone calls. While the other associations were quite prompt, it finally took a call to former UAEL president Joe Woodley, CLP, who had the numbers within an hour to Leasing News:

    " UAEL end of 2008 was 289 members. EAEL had 183 at the end of 2008. Approximately, they can't really tell us clearly, 60 some members, were members of each association.. At the end of .arch 2009, NEFA has 233 renewals and new members, "Joe sent from his Verizon Wireless Blackberry." The encouraging thing is many decided not to go to Orlando, they will renew and will be in Monterey, if they are still in business. If you need anything else, please contact me directly,"

    The numbers indicate it certainly appears a mistake to have let long time leasing veteran and membership professional Bill Grohe go. He not only brought in new members, kept new members happy, and worked the telephones for better attendance at UAEL events. I can tell you when it came to regional meetings, he would call you two or three times, even after you said you weren't going. Talk about persistence and salesmanship. He would finally talk you into attending, and a member who wanted to leave UAEL, you didn't!!!

    Membership numbers were not available from the National Vehicle Leasing Association. It should be noted they cancelled their June 10, 2009 Annual Convention, and that should tell you enough. Vehicle sales are down, so is leasing, fleet sales, too. At one time they had between 200 and 250 members.

    Cindy Spurdle, Executive Director of the Certified Leasing Profession Foundation reported: "At the end of 2008 there were 179 CLP's in Good Standing. At the end of our first quarter there were 176 CLP's in Good Standing. The term 'In Good Standing' means that each CLP is current with their dues and recertification's and are actively involved in our industry."

    The prior year it was at 204, a drop of 28 to the first quarter, which means 2009 CLP President Theresa Kabot, CLP, has her work cut out this year to replace those, primarily no longer in the leasing business.

    Perhaps most seriously affected was the Equipment Leasing and Finance Association, with a large professional staff, a very active unit involved not only in education, services, information, but active in Washington and the fifty states in behalf of the leasing and finance industry. President Ken Bentsen, Jr. has certainly been getting the association name before the public in his many radio, television, and the print news media, plus raised the association influence quite a bit during his tenure.

    "We ended 2008 with 700 members, whom we billed for 2009 renewal. To date 79% have renewed vs. 83% at the same time last year, " reported Donald Ethier, CAE, ELFA Vice President, Membership and Marketing . "Renewals are still coming in and we expect to end up in the low to mid 80's, vs. a final renewal rate of 87% for 2008. Our membership count now is 579."

    Under the circumstances, Ethier has done an outstanding job, although the numbers might lead you to another conclusion. To get the truth, look at the stock market price of many of ELFA members, not counting the many banks and independents. He and his committee, volunteers, should be commended for the results. The core group is very supportive.


    NAELB membership numbers have dropped 181, but are basically in line with what other leasing associations are reporting.

    "Obviously the economy hit us harder on membership renewals than in years past but we still have the same dues rates as always and our conference rates have not gone up in at least five years either,” Monica Harper, Executive Administrator, National Association of Equipment Leasing Brokers, told Leasing News.” I guess we are all in the same boat."

    NAELB Membership Dues:
    Broker $295
    Associate $600
    Funding Source $750

    It should also be noted that the Association of Government Leasing and Finance had It should also be noted that the Association of Government Leasing and Finance had 277 members representing 118 companies in 2007, which would change their rating in the group, especially compared to ELFA whose member GE Capital, among some other top companies, belong only to ELFA and is counted as one member (although many from the company are active at ELFA. In reality, Leasing News was told AGLF still has their renewals open so the current count is officially also their year-end count. It was noted that even though the May 6-8 Conference at the Brown Palace Hotel Denver, Colorado is a joint one with ELFA, they only had 125 registered at the time.

    Arizona Equipment Leasing Association at one time had 40 members. One member reported it was down to 25, but that is not official, and Leasing News was not able to get an official count at press time. This is primarily independents who's companies are located in Arizona.



    Leasing News Top Stories---April 27--May 1

    Leasing News Top Stories---April 20-24

    Here are the top ten stories opened by readers:

    (1) Unbelievable Bulletin Board Complaint

    (2) $40 Million Fraud/Leasing Founder Assets Frozen

    (3) Alert—Greystone $2-$3 Million Not Funded?

    (4) Unbelievable Bulletin Board Complaint –Up-Date

    (5) US Bancorp 51% 1st Q Loss/Lease Losses Up

    (6) How's Business---Don't Ask!
    by Christopher Menkin

    (7) OFC Capital Downsizes

    (8) (tie)
    Letters Criticize “Anonymous” Larkins" letter

    (8) (Tie)
    Sales makes it Happen--by Kit Menkin
    Cold Calling----Part II

    (9) (tie)
    Cartoon—Greystone Department Head Meeting

    (9) Wells Profit is Vanishing

    (10) Key Loans and Leases off 1st Quarter

    Here are the top ten stories opened by readers:

    (1) Bulletin Board Complaint
    IFC Credit Corp. dba First Corp.

    (2) Bulletin Board Complaint--Up-Date
    IFC Credit Corp. dba First Corp

    (3) Blackberry, Handheld Device Users

    (4) (Tie)
    Greystone Closed?

    (This story was not that well read, but actually should be part of (4):
    Greystone says goodbye to Leasing
    by Christopher Menkin

    (4) (Tie)
    Marlin! Oh, Marlin! Rise up & Hear the Bells

    (5) Pugent Sound/Secords/Larasco/12 Banks +

    (6) Envision Capital Group Secures Credit Facility

    (7) In Defense of Benny Judah/Excel Leasing

    (8) Bank Beat---Four more Banks Fail

    (9) Cartoon—I tried to hijack a US ship

    (10) Sales Makes it Happen---by Linda P. Kester
    Vendor Follow-Up

    Extra: Not counted for technical reasons
    Shareholders Oust Bank of America Chief as Chairman



    Leasing 102
    by Mr. Terry Winders, CLP

    Residuals vs. Purchase Options

    In a funding market that we are in today lessors are finding it hard to find a location to sell a transaction with a residual. Therefore most transactions in the small and middle market that are not funded by a captive are only offering $1 out leases or transactions that only qualify as a capital lease. This type of capital lease, for accounting, requires the lessee to depreciate the present value of the rent stream over the lessee’s average useful life, for the equipment, regardless of the lease term. This could be very short sited for the Lessor because when the lease term is over the lessee may still have months to go on the depreciation and be reluctant to replace the equipment and suffer a book loss. The answer to solving this program is to not give the lessee a bargain purchase option. If the option is not a bargain and it fails the 90% test it is still a Capital lease for accounting but the depreciation is limited to the lease term. An example is data processing equipment that is usually depreciated over 60 months for book but usually has a lease term of 36 to 42 months.

    I know you will argue with me that no lessee will accept a FMV or high fixed price purchase option because without a residual their payments would be higher or at least equal to equipment financing. To combat this, offer them a trade- up option or a trade-in option and indicate that whatever the equipments worth at termination will be used to lower your cost on the next piece of equipment giving them a lower payment. They get the same benefit equipment financing would provide but they can depreciate the equipment for book purposes over the “actual” term of the lease instead of over its useful life. This ties depreciation and interest expenses to the term of the lease and not to some artificial term with a salvage value established by accountants. In addition it saves your customer because they have to come back to you to get the benefit. It they exercise the purchase option to go elsewhere you may pocket some extra income.

    On the tax front remember that you should always restrict your residuals to 80% of the purchase option, or less, to show you expect to receive a profit from the sale of the equipment, at termination, so as to not fall into the IRS trap that the economics of your transaction is the same as a loan and therefore a disguised conditional sales contract (if the residual and purchase option are the same).

    Another problem with people new to our business is that they think the purchase option amount or percentage is cut in stone. The word “option” means the lessee can negotiate with you on the actual sales price. Do not kid yourself, the lessee knows that even thought they must return the equipment to you in good condition (assuming you have good return language)you are not a seller of that type of equipment and will be lucky to get wholesale for it and must deduct selling expenses such as insurance, storage, advertising, commissions, and maybe the cost of time as your investment sits there waiting to be sold while interest continues to build. They will compute a purchase price that they think is fair and as long as it exceeds your residual you will probably accept it.

    Residuals are very much a part of leasing but to get a funder in position to accept your residual position you need a completed “use and description form” and provide evidence that you have investigated the impact of that use on the equipments value over the term of the lease plus some indication of how to expect to remarket the equipment at termination. I know that no residual means no risk but leasing is not equipment finance and if you want to be successful in leasing you need to understand the fundamentals and the wonderful reasons companies lease and how they fit into different types of leases for accounting, tax and legal.

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

    Previous #102 Columns:



    Mortgage Rates lowest since 1971

    Freddie Mac reports the 30 year fixed mortgages are now 4.78% from last week's 4.8%, the lowest since the survey began in 1971.

    Frank Nothaft, Freddie Mac's chief economist, said the low rate means that those who refinance a $200,000 loan would save almost $212 in monthly mortgage payments and more than $2,500 per year.

    The average rate on a 15-year fixed-rate mortgage was 4.48 percent this week, unchanged for the third straight week.

    Rates on five-year, adjustable-rate mortgages fell to 4.80 percent from 4.85 percent last week — the lowest since Freddie Mac began tracking it in January 2005.

    Average rates on one-year, adjustable-rate mortgages fell to 4.77 percent from 4.82 percent last week.

    The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for every type of mortgage mentioned in Freddie Mac's survey except for the five-year adjustable rate mortgage, which averaged 0.6 point.

    30-year fixed mortgages, the most popular loan among home buyers, slid to 4.78 percent from 4.8 percent last week, Freddie Mac said. Last year at this time, the average rate on a 30-year mortgage was 6.06 percent.

    The all-time low of 4.78 percent was recorded the week of April 2. Freddie Mac's annual survey dates back to 1971.

    Freddie Mac also said the average rate on a 15-year fixed-rate mortgage was 4.48 percent this week, unchanged for the third straight week.

    Rates on five-year, adjustable-rate mortgages fell to 4.80 percent from 4.85 percent last week — the lowest since Freddie Mac began tracking it in January 2005.

    Average rates on one-year, adjustable-rate mortgages fell to 4.77 percent from 4.82 percent last week.

    The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for every type of mortgage mentioned in Freddie Mac's survey except for the five-year adjustable rate mortgage, which averaged 0.6 point.



    ELFA Legal Forum Excellence Award

    Equipment Leasing and Finance Association (ELFA) President Kenneth E. Bentsen, Jr. is very pleased to congratulate ELFA members for whom awards for exemplary work and demonstrated best practices have been recently announced:

    •     ELFA Annual Legal Forum and Excellence in Leasing Award:

    The ELFA Annual Legal Forum brought together internal and outside legal counsel at the premier legal event for the equipment finance industry. Updates on current legal issues and trends in the industry were featured. Industry segment roundtables provided the opportunity to share ideas on key industry and legal matters. An important element of the Legal Forum is the presentation of the ELFA Excellence in Leasing Award. The ELFA Excellence in Leasing Award is given each year to an exemplary attorney at the ELFA Legal Forum and this year, Marshall Goldberg, Partner, Glass & Goldberg - A Law Corporation, of Woodland Hills, California was presented with the award. Marshall has served on the Legal Committee, the Credit and Collections Management Committee and as a member of the Editorial Review Board of the Journal of Equipment Lease Financing. He is currently the Chairman of the Professional Development, Education and Information Sub-Committee for the ELFA Legal Committee.

    •     ELFA’s Operations & Technology Excellence Award:

    The ELFA’s O&TE Award Program identifies and recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI. The program brings the backroom to the foreground spotlighting the best in the industry as an example for others. The O&TE Award subcommittee selected winners for the O&TE Award Program and announced them April 30. Projects submitted by Key Equipment Finance and PHH Arval won the award, which will be presented during ELFA’s Operations & Technology Conference, to be held May 13-15 in San Antonio, TX. Winning projects will be showcased in sessions during the conference. “Equipment finance companies have long recognized the value of developing best practices to improve processes and performance for their organizations and the industry,” said Joan Simpson, Sr. Manager, Cisco Systems Capital Corporation and O&TE Award Committee Chair. “The achievements of this year’s winners, Key Equipment Finance and PHH Arval represent outstanding examples of value creation and the importance of continuing to invest in their operations, even in a time of economic downturn.”


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

    News Briefs----

    ING Lease results marked by “sharp fall”

    Dell, HP sees a big market in smaller companies

    Trustee sues Madoff feeder fund manager for $1 billion



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    Today's Top Event in History

        1626-Dutch colonist Peter Minuit arrived on the wooded island of Manhattan in present-day New York. He bought Manhattan for $24, but from a tribe in Brooklyn, almost like buying the Brooklyn Bridge.  The story has been repeated so many times school children believe the borough was bought for beads.  Ironically, The Dutch had already established the town of New Amsterdam at the southern end of the island.  The American Indians had no comprehension of land ownership. Shortly most of them were wiped out by small pox, influenza, and a host of diseases brought from Europe in which they had no immunity.
    ( lower half: )


    This Day in American History

        1494- Christopher Columbus discovered Jamaica. The Arawak Indians were its first inhabitants. This was his second journey. His first he basically discovered Cuba, and on his third Trinidad, and on his fifth trip, 1502-1504, Martinique, exploring the coasts of Nicaragua, Costa Rica, and Panama. He brought a lot of slaves back to Spain, his main find in the islands.
        1626-Dutch colonist Peter Minuit arrived on the wooded island of Manhattan in present-day New York. He bought Manhattan for $24, but from a tribe in Brooklyn, almost like buying the Brooklyn Bridge.  The story has been repeated so many times school children believe the borough was bought for beads.  Ironically, The Dutch had already established the town of New Amsterdam at the southern end of the island.  The American Indians had no comprehension of land ownership. Shortly most of them were wiped out by small pox, influenza, and a host of diseases brought from Europe in which they had no immunity.
    ( lower half: )
        1746- The Moravians in Pennsylvania established the Moravian Women's Seminary at Bethlehem. It was the first educational institution of its kind established by the "Unitas Fratrum" in (colonial) America.
        1776 - Rhode Island declared its freedom from England, two months before the Declaration of Independence was adopted.
        1796-Birthday of Horace Mann, American educator, author, public servant, known as the "father of public education in the US," was born at Franklin, MA. Founder of Westfield (MA) State College and editor of the influential Common School Journal. Mann died at Yellow Springs, OH, Aug 2, 1859.
        1850--A second Great San Francisco Fire broke out in the United States Exchange,
    a saloon and gambling house. The fire burned 300 building s and caused $4,000,000 damage.
    At about 4:00 AM, a suspicious fire erupted in a building on the east side of the United States Exchange, a drinking and gambling house built where Dennision's Exchange once stood. Before 11:00 AM, the conflagration consumed the block between Kearny, Clay, Washington, and Jackson. Again, dynamite and rope saved the city from complete destruction. With ashes still hot and smoking, the first evidence of arson was found. Within ten days San Franciscans had rebuilt half of their Phoenix City.
    It is interesting that on the same date, one year later, the 5th Great Fire almost destroyed San Francisco. The entire business district was destroyed in 10 hours. 18 Blocks,2,000 buildings.
    The 1906 Great Earthquake was not the cause of the major damage. It was the fire that was created by the quake that devasted the city.
        1851-First major San Francisco fire
        1864- General Grant's Army at Potomac attacks at Rappahannock crosses Rapidan and begins his duel with Robert E Lee
        1864- Over the objections of President Lincoln, the House of Representatives on this date passed the Wade-Davis Reconstruction bill, containing stiff punitive measures against the South that if put into aw would have destroyed Lincoln's more moderate reconstruction aims. The bill was also adamantly opposed by Radical Republicans, led by Thaddeus Stevens for whom it was insufficiently severe in its treatment of the Southern rebels. Lincoln eventually killed the bill by using the pocket veto. When Andrew Johnson became president, following Lincoln's assassination, he basically abandoned all Lincoln's reconstruction plans and set up to punish the South.
        1886 - Chichester Bell and Charles Tainter received a US patent for the graphophone. This invention replaced Thomas Edison's phonograph, and featured wax-coated cylinders. These were considered an improvement over the phonograph's tinfoil cylinders, which had been delicate and difficult to remove.
        1891-The first hospital open to all races as a matter of policy was the Provident Hospital, Chicago, Ill.  Although primarily for African-Americans, there was no racial barrier to the admission of patients or staff appointments of physicians. Dr. Frank Billings was chief consulting physician. Dr. Christian Fenger, chief consulting surgeon; and Drs. Ralph N. Isham and Daniel Hall Williams, attending surgeons.  A nursing school, the Provident Hospital Training School Association, was connected with the hospital.
        1894—Bird Day began.
        1896- Labor union unrest at Chicago led to violence when a crowd of unemployed men tried to enter the McCormick Reaper Works, where a strike was underway. Although no one was killed, anarchist groups called a mass meeting in Haymarket Square to avenge the “massacre. When the police advanced on the demonstrators, a bomb was thrown and several policemen were killed. Four leaders of the demonstration were hanged and another committed suicide in jail. Three others were given jail terms. The case aroused considerable controversy around the world.
       1905- honky tonk singer Al Dexter was born in Jacksonville, Texas. He perfected his style in the oil-boom dance halls of East Texas. And he recorded one of the first songs to have the word "honky tonk" in its title, "Honky Tonk Blues." Dexter, who died in 1984, is best known as the composer of the wartime hit, "Pistol Packin' Mama."
        1907--Birthday of Mary Agness Hallaren - U.S. military commander. With the rank of captain MAH commanded the first WAC battalion of women to go overseas in WWII. Became director of the WACS in May, 1947. On June 12, 1948 when the Armed Services Integration Act went into effect and the WACS became a component of the Regular Army, Col. Hallaren became the first women to receive a commission in the Regular Army. She retired from the army in 1960 and in 1965 she became director of the Women in Community Service division of the U.S. Labor Department.
        1909- Tel Aviv founded. In 1910, the suburb was named Tel Aviv after Nahum Sokolow's translation of Altneuland, Herzl's fictional depiction of the Jewish State.
        1910 - Congress required every passenger ship or other ship carrying 50 persons or more, leaving any port of United States, to be equipped with a radio (powerful enough to transmit to a 100-mile radius) and a qualified operator.
        1926-Drummer Sonny Payne birthday, New York City
    “Atomic Bomb” Basie album, best known for. Died Jan 29, 1979 in Los Angeles, CA,,477721,00.html?artist=

        1928- Canadian jazz trumpet player, “screamer,” Maynard Ferguson was born in Montreal. He went to the US at the age of 20, playing in the big bands of Boyd Raeburn, Jimmy Dorsey, Charlie Barnett and Stan Kenton. Ferguson won the Down Beat magazine reader's poll for trumpet in 1950, '51 and '52. He later formed his own big band, which in the 1970's turned in a jazz-rock direction. Ferguson's recording of "Gonna Fly Now," the theme from "Rocky," was a major hit single in 1977.
        1929-Birthday of Audrey Hepburn, whose first major movie role in Roman Holiday (1953) won her an Academy Award as best actress, was born near Brussels, Belgium. Here real name was Edda Van Heemstra Hepburn-Rusten.She made 26 movies during her career and received four additional Oscar nominations. During the latter years of her life Hepburn served as spokesperson for the United Nations Children's Fund, traveling worldwide raising money for the organization. Audrey Hepburn died Jan 20, 1993, at Tolochenaz, Switzerland. Even when dying of cancer, she traded ceaselessly in Third World countries, always for the children, never stinting, giving everything she had. Answering a reporter's question about why she worked so hard for UNICEF, she answered simply, "I do not want to see mothers and fathers digging graves for their children." One can only guess that she saw too much of that when as a girl she was accidentally trapped in Holland during World War II. She suffered extreme hardships during the war and several of her relatives and friends were executed by the Nazis. AH acted as a courier for the underground. She even had to eat tulip bulbs when food supplies ran out or they were confiscated by the Germans just before the Allied troops freed the Netherlands.
        1932 - Public Enemy Number One, Al Capone, was jailed - in the Atlanta Penitentiary -
    for tax evasion.
        1937-Bassist Ron Carter birthday, Ferndale, MI
        1940-Duke Ellington bad records “Cotton Tail,” “Don't Get Around Much Anymore” for Victor.
        1942--*POWERS, JOHN JAMES Medal of Honor
    Rank and organization: Lieutenant, U.S. Navy. Born: 13 July 1912, New York City, N.Y. Accredited to: New York. Other Navy award: Air Medal with 1 gold star. Citation: For distinguished and conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty, while pilot of an airplane of Bombing Squadron 5, Lt. Powers participated, with his squadron, in 5 engagements with Japanese forces in the Coral Sea area and adjacent waters during the period 4 to 8 May 1942. Three attacks were made on enemy objectives at or near Tulagi on 4 May. In these attacks he scored a direct hit which instantly demolished a large enemy gunboat or destroyer and is credited with 2 close misses, 1 of which severely damaged a large aircraft tender, the other damaging a 20,000-ton transport. He fearlessly strafed a gunboat, firing all his ammunition into it amid intense antiaircraft fire. This gunboat was then observed to be leaving a heavy oil slick in its wake and later was seen beached on a nearby island. On 7 May, an attack was launched against an enemy airplane carrier and other units of the enemy's invasion force. He fearlessly led his attack section of 3 Douglas Dauntless dive bombers, to attack the carrier. On this occasion he dived in the face of heavy antiaircraft fire, to an altitude well below the safety altitude, at the risk of his life and almost certain damage to his own plane, in order that he might positively obtain a hit in a vital part of the ship, which would insure her complete destruction. This bomb hit was noted by many pilots and observers to cause a tremendous explosion engulfing the ship in a mass of flame, smoke, and debris. The ship sank soon after. That evening, in his capacity as Squadron Gunnery Officer, Lt. Powers gave a lecture to the squadron on point-of-aim and diving technique. During this discourse he advocated low release point in order to insure greater accuracy; yet he stressed the danger not only from enemy fire and the resultant low pull-out, but from own bomb blast and bomb fragments. Thus his low-dive bombing attacks were deliberate and premeditated, since he well knew and realized the dangers of such tactics, but went far beyond the call of duty in order to further the cause which he knew to be right. The next morning, 8 May, as the pilots of the attack group left the ready room to man planes, his indomitable spirit and leadership were well expressed in his own words, "Remember the folks back home are counting on us. 1 am going to get a hit if 1 have to lay it on their flight deck.'' He led his section of dive bombers down to the target from an altitude of 18,000 feet, through a wall of bursting antiaircraft shells and into the face of enemy fighter planes. Again, completely disregarding the safety altitude and without fear or concern for his safety, Lt. Powers courageously pressed home his attack, almost to the very deck of an enemy carrier and did not release his bomb until he was sure of a direct hit. He was last seen attempting recovery from his dive at the extremely low altitude of 200 feet, and amid a terrific barrage of shell and bomb fragments, smoke, flame and debris from the stricken vessel.
        1945 - Donitz sends envoys to the headquarters of Field Marshal Montgomery, at Luneburg Heath, and they sign an agreement, at 1820 hrs, for the surrender of German forces in Holland, Denmark and northern Germany. The Germans also agree to the Allied demand that German submarines should be surrendered rather than scuttled -- in the German naval tradition. The surrender becomes effective on May 5th. Meanwhile, in continuing fighting to the south, Salzburg is captured by American forces. Other units push into Czechoslovakia toward Pilsen. German forces conduct rearguard actions, in northern Germany, in Czechoslovakia and Austria, as the bulk of the German forces attempt to disengage and reach the Anglo-American lines.
        1948 - Twenty-five-year-old Norman Mailer's first novel, The Naked and the Dead, is published.
    The book, which closely chronicles the lives of 13 soldiers stationed in the Pacific, presents a fictional story with precise, journalistic detail.
        1951 - The U.S. Senate unanimously passed a bill to raise the maximum strength of the Marine Corps to 400,000 -- double its strength at the time. The bill also made the Commandant of the Marine Corps a consultant to the Joint Chiefs of Staff.
        1956---Top Hits
    Heartbreak Hotel/I Was the One - Elvis Presley
    Moonglow and Theme from 'Picnic' - Morris Stoloff
    Standing on the Corner - The Four Lads
    Blue Suede Shoes - Carl Perkins
        1956 - Gene Vincent and his group, The Blue Caps, recorded "Be-Bop-A Lula" for Capitol Records in Los Angeles. Interesting note: Vincent had written the tune only three days before he auditioned in a record company talent search that won him first place. The record was rush-released just two days later and became a rock and roll classic. Vincent recorded two other charted songs in 1957 and 1958: "Lotta Lovin'" and "Dance to the Bop".
        1957- "The Alan Freed Show" debuted on ABC-TV. The legendary disc jockey's rock 'n' roll variety show was cancelled some months later after black teenage singer Frankie Lymon was shown dancing with a white girl.
        1959- the first Grammy Awards were presented by the National Academy of Recording Arts and Sciences. Record of the year and song of the year was "Nel Blu Dipinto Di Blu" - better known as "Volare" - by Domenico Modugno. Henry Mancini won the Album of the Year award for "The Music From Peter Gunn" and the Kingston Trio won the first country Grammy for "Tom Dooley."
        1960--the birth control pill was approved by the FDA in the U.S. It was developed at the Worcester Center for Experimental Biology. The work was financed by Katherine McCormick who gave the center $150,000 a year from 1953 on to develop an oral contraceptive. McCormick was the second woman graduate of M.I.T. She married into the McCormick family and took over the International Harvester business when her husband became hopelessly insane.
        1961-Militant students joined James Farmer of the Congress of Racial Equality (CORE) to conduct “freedom rides” on public transportation from Washington, DC, across the deep South to New Orleans. The trips were intended to test Supreme Court decisions and Interstate Commerce Commission regulations prohibiting discrimination in interstate travel.  In several places riders were brutally beaten by local people and policemen. On May 14, members of the Ku Klux Klan attacked the Freedom Riders in Birmingham, Alabama, awhile local police watched. In Mississippi,, Freedom Riders were jailed. They never made it to New Orleans. The rides were patterned after a similar challenge to segregation, the 1947 Journey of Reconciliation, which tested the US Supreme Court's June 3, 1946, ban against segregation in interstate bus travel.
    1963 - Andy Williams's album, Days of Wine and Roses, hit the Number 1 spot on the LP pop chart, and stayed there for 16 weeks.
        1963-The Beach Boys "Surfin U.S.A." LP debuts on the charts.
        1964---Top Hits
    Can't Buy Me Love - The Beatles
    Hello Dolly! - Louis Armstrong
    Bits and Pieces - The Dave Clark Five
    My Heart Skips a Beat - Buck Owens
        1964- “Another World, “created by lrna Phillips and sponsored by P&G, this soap was set in fictional Bay City. It was the first soap to air for a full hour and the first to beget two spin-offs (“Somerset” and “Texas'). Charles Durning,Ted Shackelford, Eric Roberts, Ray Liotta, Kyra Sedgwick, Faith Ford, Morgan Freeman, Jackëe Harry,Victoria Wyndham and Valarie Pettiford are some of its well-known alums. The show was cancelled in1999 and the last episode aired dune 25, 1999.
        1964 - The Beatles set a "Billboard" magazine Top 100 chart all-time record when, today, all five of the top songs were by the British rock group. The Beatles also had the number one album with "Meet the Beatles", the top album from February 15 through May 2, when it was replaced by "The Beatles Second Album". During the first three months of 1964, it was estimated The Beatles accounted for 60 percent of the entire singles record business. The top five Beatles singles, setting the record, were: 1) Can't Buy Me Love 2) Twist and Shout 3) She Loves You 4) I Want to Hold Your Hand 5) Please Please Me.
        1966--Simon and Garfunkel's "I Am a Rock" enters the Hot 100. During its eleven week chart run, it will peak at #3.
        1966-Del Shannon enters the Billboard Hot 100 for the 16th time with "The Big Hurt", which will stall at #94.
        1966--The Mamas and Papas hit #1 in the US with "Monday, Monday", a song that the group would later admit that they didn't really like.
        1967-The Turtles receive their first of two Gold singles for their recent #1 Pop hit, "Happy Together". Their second Gold single will come later for "She'd Rather Be with Me".
        1968--FOURNET, DOUGLAS B. Medal of Honor
    Rank and organization: First Lieutenant, U.S. Army, Company B, 1st Battalion, 7th Cavalry, 1st Cavalry Division (Airmobile). Place and date: A Shau Valley, Republic of Vietnam, 4 May 1968. Entered service at: New Orleans, La. Born: 7 May 1943, Lake Charles, La. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. 1st Lt. Fournet, Infantry, distinguished himself in action while serving as rifle platoon leader of the 2d Platoon, Company B. While advancing uphill against fortified enemy positions in the A Shau Valley, the platoon encountered intense sniper fire, making movement very difficult. The right flank man suddenly discovered an enemy claymore mine covering the route of advance and shouted a warning to his comrades. Realizing that the enemy would also be alerted, 1st Lt. Fournet ordered his men to take cover and ran uphill toward the mine, drawing a sheath knife as he approached it. With complete disregard for his safety and realizing the imminent danger to members of his command, he used his body as a shield in front of the mine as he attempted to slash the control wires leading from the enemy positions to the mine. As he reached for the wire the mine was detonated, killing him instantly. Five men nearest the mine were slightly wounded, but 1st Lt. Fournet's heroic and unselfish act spared his men of serious injury or death. His gallantry and willing self-sacrifice are in keeping with the highest traditions of the military service and reflect great credit upon himself, his unit, and the U.S. Army.
        1968-Top British model Twiggy saw a performance by an 18 year old Welsh singer named Mary Hopkin and immediately recommended her to Paul McCartney as a possible addition to the Apple Records roster. Six months later, Hopkin's first record, "Those Were the Days", was sitting behind "Hey Jude" in the number 2 position.
        1970- Still fresh in minds of students who attending college during this time, four students (Allison Krause, 19; Sandra Lee Scheuer. 20: Jeffrey Glenn Miller. 20 and William K. Schroeder, 19) were killed by the National Guard during demonstrations against the Vietnam War at Kent(Ohio) State .
        1972---Top Hits
    The First Time Ever I Saw Your Face - Roberta Flack
    I Gotcha - Joe Tex
    Betcha By Golly, Wow - The Stylistics
    Chantilly Lace - Jerry Lee Lewis
        1973-Led Zeppelin open their 1973 U.S. tour, which is billed as the "biggest and most profitable rock & roll tour in the history of the United States." A group spokesman predicts the group will gross over $3 million.
        1974-The first skyscraper higher than 1,400 feet in height was the 110-story sears Building of sears Roebuck and Company, measuring 1,454 feet high located on Jackson Boulevard between Adams and Franklin streets in Chicago.
        1975-Baseball's One Millionth Run. Bob Watson of the Houston Astros raced around the bases on Milt May's home run against the San Francisco Giants an crossed the plate with what was declared to be the one millionth run scored in major league baseball history. Watson's hustle paid off. Davey Conceptcion of the Cincinnati Reds scored another run in a different game in a different city seconds later.
        1976- The Illinois Legislature declares today as Rick Monday Day because of his patriotic gesture of saving the American flag from being burned in Los Angeles by two fans.
        1976-KISS performs their first concert in their hometown of New York City.
        1978-Jefferson Starship receive a platinum record for what will be their last LP with Grace Slick and Marty Balin. Just a few weeks later, both are gone and the band has to be revamped.
        1980---Top Hits
    Call Me - Blondie
    Ride like the Wind - Christopher Cross
    Lost in Love - Air Supply
    Are You on the Road to Lovin' Me Again - Debby Boone
        1980-An acoustic performance by the East Los Angeles band Los Lobos brought a hostel response from an Olympic Auditorium audience who came to hear Punk music. Opening for Public Image Ltd, the group was bombarded with bottles and other debris. It would take seven more years for the band to crack the Hot 100 with a couple of Richie Valens songs, "La Bamba" (#1) and "Come On, Let's Go" (#21).
        1988---Top Hits
    Where Do Broken Hearts Go - Whitney Houston
    Wishing Well - Terence Trent D'Arby
    Angel - Aerosmith
    It's Such a Small World - Rodney Crowell & Rosanne Cash
        1989 - Col. Oliver North was found guilty in the investigations into the Iran-Contra affair.
        1991- Indians' first baseman Chris James establishes the club record for RBIs by driving in nine runs with a pair of homers and two singles, helping Cleveland to crush the A's, 20-6.
        1994---Top Hits
    The Sign- Ace Of Base
    Bump N Grind- R. Kelly
    The Most Beautiful Girl In The World- The Artist
    Return To Innocence- Enigma
        1998 - The Clinton administration invoked sanctions against North Korea and Pakistan for a secret 1997 missile deal. Pakistan’s military named the acquired missile, Ghauri, after a famous Muslim warrior who slew a Hindu emperor named Prithvi, the name of a Russian made Indian missile.
        1999---Top Hits
    Livin La Vida Loca- Ricky Martin
    No Scrubs- TLC
    Kiss Me- Sixpence None The Richer
    Every Morning- Sugar Ray

    Stanley Champions This Date

        1969  Montreal Canadiens



    Baseball Poem

    The Base Stealer

    Poised between going on and back, pulled
    Both ways taut like a tight-rope walker,
    Fingertips pointing the opposites,
    Now bouncing tiptoe like a dropped ball,
    Or a kid skipping rope, come on, come on!
    Running a scattering of steps sidewise,
    How he teeters, skitters, tingles, teases,
    Taunts them, hovers like an ecstatic bird,
    He's only flirting, crowd him, crowd him,
    Delicate, delicate, delicate, delicate - Now!

    ----Robert Francis





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