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San Clemente, California

The iFinancial Group is looking for highly motivated individuals with experience originating equipment lease transactions .  We offer a relaxed work environment, provide leads and offer above industry standard commission. Call Todd Clark 888-852-5155 x223

Ten years providing financing nationwide

Friday, May 29, 2009

Basketball Player Carmelo Kiyan Anthony born May 29, 1984 Brooklyn, New York. Played one season (2002-2003) at Syracuse University, drafted June 26, 2003 by the Denver Nuggets.


Bulletin Board Complaint
    Marlin Leasing, Mount Laurel, New Jersey
Classified Ads---Sales Manager
"Green Shoots! Where?"
    by Christopher Menkin
Lease Volume Down 12.8% Month- 42.5% Last Yearvolume
     40% Drop in Franchise Financing Predicted
        Placard---Look at Life as if you were a Bus Driver
        "The List"---Up-Dated
Classified Ads---Help Wanted
    Top 25 Most Influential Leasing People
Up/Drag Me to Hell/Revolutionary Road
He's Just Not That Into You/A Married Woman
Fernando's View by Fernando F. Croce
New Hires---Promotions
    Classified ads- Collector / Collections / Consultant
        Record Number of Mortgage Workouts in April
News Briefs---
5.4MM home loans in distress, more face foreclosure
    Borrowers with good credit fuel foreclosures in 1Q
Georgia banks' losses in first quarter: $1.2 billion
    Nader warns against aiding outsourced GM
         Dell: Profit slows as PC sales sink 34%
2 Auditors Held in India Fault System
    Kris Allen and Adam Lambert Billboard Top 100
You May have Missed---
      California Nuts Briefs---
        "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----

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


Bulletin Board Complaint

Marlin Leasing, Mount Laurel, New Jersey

Whether the complaint centers on Certified Leasing and Financial Services not being licensed in California, as well as Marlin Business Services also not being licensed in the State of California (a search could find neither licensed), a sale of collateral and the sales/use tax issue on the "sale," or the notification of exercising the purchase option, an "Evergreen Clause" or the ability to communicate, or all of the above, is yet to be determined without hearing Marlin Business Service dba Marlin Leasing's comment on the complaint from Mr. Stambouli lodged against Marlin Business Services.

Marlin never returned any communication within the last ten days, which many believe is a reasonable amount of time for some type of response. It appears the many recent cutbacks in employees have affected Marlin's ability to respond not only to one of their own customers, but to calls from Leasing News as well. A comment or statement is welcome.

Jaques Stambouli, Via Trading Corporation, Lynnwood, California leased a telephone system with Certified Leasing & Financial Services, Vernon, California, on September 30, 2005 who "sold and assigned" the 36 month lease to "Marlin Leasing Corp." in Mount Laurel, New Jersey. Certified is not licensed as a California Finance Lender and if sold, there does not appear to be any sales/use tax on this sale, as well as Marlin Business Services, Inc. did not appear licensed in the State of California for capital leases or financing, such as loans, which they were conducting at one time.

(copy of letter from Certified)

The complaint regards a 10% purchase option, which also states if not exercised or given advance notice, will automatically be renewed for a 12 month period. This was a 36 month lease, so evidently automatically went into this time period after July, 2008 (two month security deposit-see contract).

(copy of Certified 36 month lease contract)

The complaint begins when Mr. Stambouli informed Marlin Leasing that he wanted to exercise the purchase option. Their response was he did not give 180 days notice therefore they were billing him for extra payments.

(copy of purchase option)

He received a letter of default dated May 11th, but was unable to reach the signer of the letter. May 18th Leasing News sent emails using several different email addresses to officers as wells as those in sales, then on the 19th sent faxes to those involved plus telephoned. At the time, calls were also made to the signer of the letter, none were returned, the same experience as Mr. Stambouli. In addition, calls to the operator on several occasions were never connected, being on hold for over ten minutes, the same situation Mr. Stambouli experienced. Since there was no connection, a voice mail was not an option.

(copy of letter extending monthly payments)

Marlin SEC filing
"Our leases generally include automatic renewal provisions and many leases continue beyond their initial contractual term. We consider renewal income a component of residual performance. For the three months ended March 31, 2009, renewal income net of depreciation totaled $1.8 million compared to $1.7 million for the three months ended March 31, 2008. For the three months ended March 31, 2009, net losses on residual values disposed at end of term totaled $333,000 compared to net losses of $173,000 for the three months ended March 31, 2008. The primary driver of the changes was a shift in the mix of the amounts and types of equipment disposed at the end of the term." Marlin 10-Q 3/31/2009 SEC Filing



Classified Ads---Sales Manager

Bayville, NJ
Dedicated individual seeking a account management position, 3 years leasing experience and 15+ years sales experience. Resume furnished upon request,
email Frank at .

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):



"Green Shoots! Where?"
by Christopher Menkin

A lot of attention is going to overseas markets in Asia where corporate growth is happening, particularly China as well as India, where General Electric Chief Executive Officer Jeffrey Immelt said in a speech in Tokyo, the global market has improved dramatically, but instead of using the word "flowering," said he saw "green shoots."

Here in the United States plants are drying up, literally, closing down, with city, counties, and states sending out pink slips in advance of pending June 30th budgets being announced for their next fiscal year. Sales tax is down, income tax is down, malls are reporting less and less traffic, and visits to better restaurants during the week still see fewer and fewer customers.

No where is this more evident than the equipment leasing business where brokers in the United States say they feel like "Maytag repair men," waiting for the telephone to ring. Companies here with direct sales personnel report hiring new sales managers, new sales personnel, and operating staff is feeling the pinch, although collections are up and that means more effort to make the list of who is the lucky person to get paid today.

GE Capital is still closing finance divisions down, letting people go, and other institutions call it "realignment," but that is the pleasant word for making cutbacks.

As we enter the summer months, it will slow down even more with kids out of school, the weather changing, and each year the slowest month in equipment leasing sales is either July or August, perhaps depending on how long the July 4th vacation will last. Last year it fell on a Friday. This year on a Saturday. More than likely both months will be down with everyone hoping September and October will bring in business to make up for these slow months.

So if you are going to make it, it has to be June. It has to be a good month, perhaps a very good month, to make it through the remaining summer vacation months. This should be like the end of the six month race, you hit your pace, now go all out until the finish line.

Readers who think this is too pessimistic and Leasing News should be optimistic, do not disagree with you, but the statistics in the following article speak loudly as to what is happening in the United States. You need to be optimistic to compete and relay a sense of confidence, for sure, but you better make June work as the next two months combined will not be as good as the 30 days to follow starting on Monday. Kick it up a notch!!! Or two!



Lease Volume Down 12.8% Month- 42.5% Last Year

(ELFA MLFI-25 chart, Click on chart to enlarge it)

Jeffrey Immelt, CEO of GE, evidently does not read the Equipment Leasing and Finance Association's (ELFA) Monthly Leasing and Finance Index (MLFI-25) monthly reports. April shows the economic activity for the $650 billion equipment finance sector found business volume declined by 42.5 percent when compared to the same period in 2008, the press release stated. There were no "green shoots" in this report.

(Leasing News chart, Click on chart to enlarge it)

Month-to-month new business volume decreased 12.8 percent from March to April, from $4.7 billion to $4.1 billion. Compared to the first quarter, the month was basically flat, no growth. It is one thing to be optimistic and another to be creditable.

ELFA reports the MLFI-25 found that 68% of participant companies reporting fewer transactions being submitted for approval during the month, due they reported to tightening underwriting standards and lower demand. Immelt evidently disagrees with his colleagues, although the cut backs at his own company contradict his recent statements.

From the ELFA press release, here is one colleague that disagrees with Immelt "dramatically improved:"

"Although the April trends offer some reason for optimism, the MLFI-25 data from the past 16 months are emblematic of the continuation of a very challenging environment exemplified by reduced demand for capital goods and elevated underwriting standards," said Ralph M. Martinez, Senior Vice President / COO, National City Commercial Capital Company, LLC, now a PNC Financial Group Company located in Cincinnati, OH.

Credit approvals dropped to 59.9 percent from 64.3 percent.

(ELFA MLFI-25 chart)

"Credit approval rates continue to suffer from poorer earnings performance from what were in better times, good risks. While hopeful that recovery is in process, this economic pause is very deep-seated and is not expected to reverse quickly," said Martinez.

ELFA President Kenneth E. Bentsen, Jr.

"Tight credit and the recession continue to impede new business volume," said ELFA President Kenneth E. Bentsen, Jr. "However, deterioration of portfolio quality, in terms of delinquencies and charge offs, may have crested."

Charge-offs decreased to 1.79 percent from 2.21 percent in the prior month

(ELFA MLFI-25 chart)

The MLFI-25 reported receivables over 30 days decreased to 4 percent as compared to 4.9 percent in March.

(ELFA MLFI-25 chart)

Total headcount for equipment finance companies showed an increase of 2.9 percent in April.

(ELFA MLFI-25 chart)

Leasing News has questioned these numbers, particularly when compared with the ZRG Employment Index as well as US Government employment indexes and the number of leasing companies exiting leasing itself. One assumption is the companies reporting are international companies and these numbers may be getting in the mix reported to ELFA.

( )

ELFA MLFI-25 Participants

ADP Credit Corporation
Bank of America
Bank of the West
Canon Financial Services
Caterpillar Financial Services Corporation
De Lage Landen Financial Services
Dell Financial Services
Fifth Third Bank
First American Equipment Finance
Hitachi Credit America
HP Financial Services
John Deere Credit Corporation
Key Equipment Finance
Marlin Leasing Corporation
National City Commercial Corp.
RBS Asset Finance
Regions Equipment Finance
Siemens Financial Services
Susquehanna Commercial Finance, Inc.
US Bancorp
Tygris Vendor Finance
Verizon Capital Corp
Volvo Financial Services
Wells Fargo Equipment Finance

Monthly MLFI-25 Surveys:



40% Drop in Franchise Financing Predicted

The International Franchise Association research reports "a 40 percent drop in franchise lending becomes reality, nearly 50,000 jobs will vanish and more than $5 billion in economic activity will evaporate."

"The new report shows that for every $1 million of lending obtained by franchise small businesses, 34 jobs are created and $3.6 million in annual economic output is realized. However, the credit crunch is constraining this potential growth and slowing economic recovery."

"With sufficient levels of available credit, franchise businesses can help lead the country to economic recovery as they have done in previous economic downturns. Between 1999 and 2006, the number of franchise units grew at an annual average rate of almost 6 percent. During the 1999 and 2002 technology "bubble," new-unit growth continued at 5 percent.

"The report also projects that without current capital constraints, in 2009 there would be close to 35,000 new franchise units and transfers, which equates to a total of 279,000 jobs created or protected, and a total annual economic output of $30 billion.

"The report also indicates that the franchising industry will require an estimated $8.4 billion in financing to meet 100 percent of demand in 2009. To help ensure that money is available, IFA recommended actions include: increasing the SBA 7 (a) maximum loan limit from $2 million to $3 million and the maximum loan guarantee from $1.5 million to $2.7 million so that the small businesses that can create the most jobs can participate in the program; allowing pricing of SBA loans to be competitive with other forms of capital investment; (Current SBA rate caps do not reflect actual credit risk spreads and discourage bank lending.); reversing the new SBA policy on 'goodwill' financing of business acquisitions; and promoting reasonable audit standards so that banks have certainty that loan guarantees will be honored.




"The List"---Up-Dated

--- Mergers, Acquisitions & Changes "The Good, the Bad and the Ugly"--


Pugent Sound Leasing, Bellevue, WA (04/09) New charges, new banks enter court proceedings

Greystone, Burlington, MA (04/09 Greystone closes, all but skeleton crew left, portfolio to be administered by one of parent's companies 04/09) Not funding, paying salesmen.

Excel Financial Leasing, Lubbock, Texas (04/09) SEC freezes all assets, claims $40 million security fraud.

Evans National Leasing, Hamburg, NY (04/09) A division of Evans Bank, exists leasing business.

NorVergence, New Jersey (04/09) Louisiana AG arrests Thomas J. Salzano and he spends night in jail before posting bail for charges of fraud.

PredictiFund (04/09) Exits leasing business to concentrate on credit card advances.

Synovus Capital Finance (04/09) Closes down leasing division.

SunBridge Capital, Mission, Kansas (04/09) Files Chapter 7. Bank of Kansas City holding an original portfolio of $97 million, now down to $76 million; local banks seem to be holding the bag as well as Lakeland Bank, HSH Norbank, and Midwest Bank. (04/09) Three creditors push into Chapter 11.

Complete Chronological List:

Full List: Alphabetical:

Leasing Companies Out of Broker Business :



Classified ads---Help Wanted


San Clemente, California

The iFinancial Group is looking for highly motivated individuals with experience originating equipment lease transactions .  We offer a relaxed work environment, provide leads and offer above industry standard commission. Call Todd Clark 888-852-5155 x223

Ten years providing financing nationwide


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.

Help Wanted ads start at $500 for 21 days. Logo and company description are free, as well as clicking from the ad to a full job description. You can submit your own ad or have Leasing News design one for you.

It is also our policy to place "help wanted" ads above the news edition headlines. This position is not available as a paid position, but appears on the top of the news edition in a rotation basis.




Top 25 Most Influential Leasing People

"Influential" as "a person whose actions and opinions strongly influence the course of events" {Online Dictionary}.

Send nominations to:

Bernie Boettigheimer, CLP--Bernie's career as founder of Pioneer Capital, provided tremendous opportunities for brokers, small business owners and banks to be successful. However his best accomplishment is yet to come as Lease Police continues to grown in popularity. Lease Police, created and developed by Bernie, may prove to be the greatest cost saving program available to funders in history. While I believe that his accomplishments are many, Lease Police, in the coming years, may prove to be his greatest contribution to the industry yet.

Michael J. Fleming--He is the immediate past president of the Equipment Leasing Association ("ELA" now the Equipment Leasing and Finance Association - "ELFA"), a position he held for a distinguished 27 years from 1979 to 2006. His continuity of association leadership was a key ingredient in nurturing the growth of the equipment leasing and finance industry. During his tenure as the ELA chief executive, association membership grew from under 400 members to over 750. The association headquarters was moved to the greater metropolitan Washington, DC area to enable more timely and effective association advocacy. A significant number of events, publications and training courses were launched on Mike's watch. Association staffing grew to 25 professionals. A visionary, Mr. Fleming was driven to ensure the association work remained relevant and focused on the needs of its members. This included the development of business council steering committees to ensure that the distinct issues and challenges of Small Ticket, Vendor Lessors, Banks, Captives and Service Providers were simultaneously represented.

Current Top 25 Influential List (May 26, 2009):



Fernando's View

New movies for families ("Up") and horror fans ("Drag Me to Hell"), and new DVDs for Oscar watchers ("Revolutionary Road") and movie buffs ("A Married Woman").

Comments welcome:

In Theaters:

Up (Walk Disney Pictures.): Pixar once again raises the bar in animated features with this colorful, family-friendly, heartrendingly humanistic adventure. The story focuses on Carl Fredrickson (voiced by Ed Asner), an elderly widower whose sense of adventure is sparked again by Russell (Jordan Nagai), a cheerful Boy Scout. Russell's enthusiasm is such that Carl decides to pursue his dreams of being an explorer, even if that means literally floating away in his house with the help of thousands of balloons. Following the two characters through a series of ravishing, comic and poignant episodes, directors Peter Docter ("Cars") and Bob Peterson offer some of the studio's most visually engaging and emotionally rich moments. Make sure to catch it in 3D.

Drag Me to Hell (Universal Pictures): Best known today for his "Spider-Man" movies, director Sam Raimi actually got his start as a maker of gruesome and clever horror movies. Consider this chilling, giddily over-the-top supernatural thriller a return to his original roots. Christine (Alison Lohman) is an ambitious loan officer who seems ready for a promotion when a mysterious old woman enters her bank to ask for an extension for her home loan. Christine's decision unleashes her client's terrifying true personality, and suddenly she finds herself dealing with a curse that makes her life a literal hell. Can she break the spell, or will she succumb to the sinister forces plaguing her? Mixing shocks and social criticism, this is a bloody good time at the movies.

New on DVD:

Revolutionary Road (Paramount): Sam Mendes ("American Beauty") directs this Oscar-nominated adaptation of Richard Yates' terrific novel about the dreams and anxieties of a Connecticut suburban family in the 1950s. Frank (Leonardo DiCaprio) and April Wheeler (Kate Winslet) were in love when they first met, though their love seems to have dried up in the years since. They have successful jobs, children and a lovely home, yet something is missing in their lives. Frank and April decide to take measures to recapture the excitement that's gone out of their relationship, but will they succeed, or are their actions just another set of illusions? The story is told with taste and care, and DiCaprio and Winslet (reunited a decade after "Titanic") play off each other with passion.

He's Just Not That Into You (New Line): Fans of "When Harry Met Sally" and "Sleepless in Seattle" will want to check out this star-studded romantic comedy. Based on the best-seller by Greg Behrendt and Liz Tuccillo, Ken Kwapis's movie illustrates the dos and don'ts of modern-day dating with the romantic misadventures of a group of characters in Baltimore. The lovelorn folks include a woman (Jennifer Aniston) who can't get a proposal out of her beau (Ben Affleck), Jennifer Connelly and Bradley Cooper as a married couple trying to revive their love, Scarlett Johansson as a yoga instructor, and Drew Barrymore as a single woman baffled by dating services. With this cast, even viewers allergic to chick-flicks may give this light comedy a try.

A Married Woman (E1 Entertainment): One of the medium's most consistently inventive figures ever, French director Jean-Luc Godard made movies like no other. Intellectually stimulating and cinematically exhilarating, his works remain fresh and exciting even decades after their original release. A perfect case in point is this daring 1964 portrait of a young housewife (terrifically played by Macha Meril) and her ties with her family and her lover. Working with bold, experimental visuals and a penetrating view of modern life, Godard presents a harsh but never hopeless critique of the ways society can turn relationships into commodities. Audiences intrigued by last week's "The Girlfriend Experience" will definitely want to check this one out to see where Steven Soderbergh got many of his ideas. With subtitles.



The CLP Newsletter

With permission, here is the May, 2009 Certified Leasing Professional Newsletter with spotlights on Shannon Green, CLP, and Olevia Yates, CLP, NAELB Conference, plus information about the foundation.



New Hires---Promotions

Albert W. Golembeski, Jr., was named Senior Vice President, Credit and Lease Operations, LFC Capital, Inc., Chicago, Illinois. He was Senior Vice President, Business Support Executive and Business Manager for Banc of America Leasing. Earlier, he was Senior Vice President, Business Manager and Director of Strategy for Fleet Capital Leasing. He also held management positions with Sanwa Business Credit Corporation and Continental Illinois Leasing Corporation. Mr. Golembeski earned a BS degree in Mathematics from the University of Massachusetts at Lowell and a MBA from the Harvard Business School.

Frederick J. (Rick) Rafanello was named Director of Lease Operations, LFC Capital, Inc., Chicago, Illinois. He was an analyst with Thoughtworks, a global IT consultancy, he helped to develop a financed asset tracking system for Dana Commercial Credit Corporation. Prior to that, he was Vice President of Asset Management for Fleet Business Credit. He began his career in commercial finance as a credit manager for Norwest Financial Leasing. He received a BA in English Literature from Indiana University.

Tom Rude promoted to First Vice President. First Business Equipment Finance, a division of First Business Financial Services, Inc., Milwaukee, WI. Before joining the company in 2006, he held development positions with Wells Fargo Equipment Finance and U.S. Bancorp Equipment Finance. Prior to this, he was with Associates Commercial Corporation. He received his BBA in Finance from the University of Wisconsin-Whitewater.

Mark J. Sullivan appointed Vice President of Sales, TimePayment, Woburn, Massachusetts. He previously was Corporate Vice President, Wells Fargo Vendor Finance. Prior to that he was senior vice president CP&S Capital. Prior to joining CP&S Capital, he served as Corporate Vice President for Fleet Global Vendor Finance, , where he was instrumental in funding over $850 million of new business through vendor program relationships. He was named highest individual profit producer for the corporation during four of his 10 years at Fleet, and developed creative new financing programs in diverse industries including IT hardware, software, energy services and telecommunications. Earlier in his career, Mr. Sullivan served in several finance, lending and treasury positions with The Bank of New England and Chase Manhattan Bank.



Classified ads- Collector / Collections / Consultant

Collector: Atlanta, GA
Asset Recovery Specialist. We get your money or we get your > equipment back for you. Physical Asset Recovery Experts!
Collector: Cleveland, OH
Huntley Capital & Associates is your solution to late payments, no payments, and asset recovery. Call 216-337-7075.
Collector: Los Angeles, CA
Expert skiptracers covering Southern California. We locate skips, judgment debtors and collateral. When you can't get the job done in house, give us a call at
Collector: Louisville, KY
We are a full service collection agency with attorney network. 21 years experience. Please call Jon Floyd, VP at 1-800-264-6850
Collector: Louisville, KY
Euler Hermes/UMA 92 year old Global Receivables Outsourcing. Presence in 143 Countries. Work w/ 4 out of 5 Fortune 500 firms. Contingency Fee Structure.
20% off first time clients.!
1-800-237-9386 x 205.

Collector: Mandeville, MI
International commercial collection services all fees are on contingency on line access.

Collector: Milwaukee, WI
We specialize in ATM machine reposession and remarketing. We can get you top dollar for your inventory.

Collector: Nationwide
End of lease negotiations & enforcement. Third-party collections. Skip-tracing. Background checks. Credit & asset investigations. 15+ years in leasing industry. Providing services to clients nationwide.
Collector: Saint Louis, MO
Complete commercial collection agency. Licensed bonded in all states and will out performed any other agency!
Call 1-800-659-7199 ext.315
Consultant: Burlington, CT
We provide our clients with a full range of consulting services such as portfolio conversions, reconciliation, custom programming and leasing operations utilizing InfoLease.
Consultant: Europe
15 years doing deals/running own technology leasing company – looking to advise/ lead new entrants to take advantage the European market opportunity. or
Consultant: Henderson, NV
Focus on new business development and process efficiencies to create incremental revenue and profitability. Executive level vendor experience, and satisfied outsourcing clients. Incredible track record.

Consultant: Sausalito, CA
Lease trainer and consultant. 38 years in equipment leasing. Expert in transaction analysis, financial statement analysis, credit, packaging, structuring. Presents highly popular classes and workshops.

Consultant: North of Detroit, MI
INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies. Seeking consulting projects nationwide.

Consultant: Ridgefield CT.
Lisa Lersner w/20 years exp. specializing in leasing technology now providinglessor selection andmanagement services, includingthe securing of debt and equity and acquisition guidance services.
Email: Go to

Communications: Chassell, MI

Cartoons on business, finance & computers. Use for your presentations, website, newletter, direct

mail projects etc. Fees are negotiable.
Go to


Leasing Industry Outsourcing
(Providing Services and Products)

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:

How to Post a free "Outsourcing" classified ad:



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

Record Number of Mortgage Workouts in April

Washington, D.C.- HOPE NOW, the private sector alliance of mortgage servicers, non-profit counselors, and investors that has been working aggressively to prevent foreclosures and keep homeowners in their homes, today announced that its members and the larger mortgage lending industry completed 270,000 homeowner solutions in April. This is the largest number in any month since HOPE NOW began to compile data.

In April 2009, HOPE NOW members and the larger mortgage lending industry modified 127,000 mortgages and completed 143,000 repayment plans.

This slight drop in the number of modifications and increase in payment plans from March was partially caused by the industry beginning to implement the Obama administration's Home Affordable Modification Program. Under the conventions of the HAMP, loans are subject to a three-month-trial period before a modification can be completed and, therefore, are often classified as repayment plans or trial modifications. Some of these trial modifications will result in formal reporting of modifications after 90 days. As a result and, as expected, the number of repayment plans increased and the number of modifications decreased from what otherwise might have been recorded.

According to Faith Schwartz, HOPE NOW's executive director, the mortgage lending industry is working hard to make HAMP a successful tool to fight the foreclosure crisis. "Many HOPE NOW members see HAMP as an important opportunity for homeowners in trouble," she said. "The number of homeowners helped by the industry each month should continue to increase as this program continues to be implemented."

The HOPE NOW April data shows:

The number of 60+ day's delinquencies was the same in April as in March at just under 3 million

Foreclosure starts dropped by more than 16 percent, 290,000 in March to 249,000 in April

Foreclosure sales increased, from 53,000 in March to 65,000 in April

According to Michael Bright, HOPE NOW's chief statistician, many HAMP trial modifications initially show up as repayment plans. "The increase in repayment plans recorded in April is due, in part, to the first trial modifications completed under the administration's program," he said. "Assuming borrowers complete the trial period successfully as mandated by the government, these loans will eventually be recorded as having been modified." "The April results are not, therefore, strictly comparable to what HOPE NOW members did in previous months," he added.

HOPE NOW continues to reach borrowers through millions of letters; a new, enhanced website at; and homeowner outreach events across the country. HOPE NOW most recently held events in Miami, FL, Charlotte, NC and Cleveland, OH. The next outreach event is scheduled for May 28 in Orlando, FL. For more information, please go to

A summary table of the results is attached and can be found at:


HOPE NOW coordinates a nationwide campaign to reach homeowners who may be at risk of losing their homes. HOPE NOW members have agreed to make substantial additional efforts to contact homeowners whose mortgages will reset in the coming months and to further expedite the process used to determine how best to keep them in their homes.

For more information about HOPE NOW, including a full list of members, go to

The Homeownership Preservation Foundation, a HOPE NOW member, created and operates the Homeowner's HOPE™ Hotline, which is available 24 hours a day, 7 days a week, and 365 days a year. The Homeowner's HOPE™ Hotline received 1.1 million calls in 2008. There is no cost to homeowners for contacting a nonprofit counselor by calling 1-888-995-HOPE.

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



News Briefs----

5.4MM home loans in distress, more face foreclosure

Borrowers with good credit fuel foreclosures in 1Q

Georgia banks' losses in first quarter: $1.2 billion

Nader warns against aiding outsourced GM

Dell: Profit slows as PC sales sink 34%

2 Auditors Held in India Fault System

Kris Allen and Adam Lambert Dominate the Billboard Hot 100 with Nine Debuts



You May have Missed---

Many small businesses lose their credit



California Nuts Briefs---

Limbaugh: Schwarzenegger ruined California by going moderate

New 5 percent cut for state workers on the table



“Gimme that Wine”

Rosé wines bloom in many shades,0,2505289.story

Nevada Vineyard aims to show grapes good for resources, profits

Latin America's wine industry hit by both poor weather and the struggling economy

Vineyard Taking Root at UC Davis

Former Raider Charles Woodson now a Vintner

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.



Today's Top Event in History

1917-birthday of President John F. Kennedy. Many of us know where we were the time we learned of his death. On the Tonight Show, Jay Leno asks people on the street if they know what the Berlin Wall was or who Kennedy defeated in the bid for president. One young person said he was the husband of Jackie Kennedy. 35th president of the US (1961-63), born at Brookline, MA. Assassinated while riding in an open automobile at Dallas, TX, November 11, 1963. (Accused assassin Lee Harvey Oswald was killed at the Dallas police station by a gunman, Jack Rubenstein(Ruby), two days later). Kennedy was the youngest man ever elected to the presidency, the first Roman Catholic, first to win Pulitzer Prize [book: Profiles in Courage and the first president to have served in the US Navy. He was the fourth US president to be killed by assassin*, and the second to be buried at Arlington National Cemetery (first was William Howard Taft).


This Day in American History

     1736--Birthday of Patrick Henry, American revolutionary leader and orator, born at Studley, VA, and died near Brookneal, VA, June 6, 1799. Especially remembered for his speech (Mar 23, 1775) for arming the Virginia militia, at St. Johns Church, Richmond, VA, when he declared: "I know not what course others may take, but as for me, give me liberty or give me death." It is not known if Patrick Henry ever spoke these words. His biographer William Wirt made up so many facts, the phrase is it "it is fact or is it Wirt" became a popular saying among American historians. There is nothing recorded in Virginia or by contemporaries who were there who make mention of this statement by Patrick Henry. That also does not disapprove it, either, some historians note, as even his painting done sixteen years after he died by an artist who based the picture on a painting of Captain James Cook, whom Henry was said to resemble. Only later, when a genuine real-life miniature of Henry suddenly surfaced, was it discovered that Henry looked nothing like Cook, although that is the painting reproduced in school history books and is taken to be Patrick Henry (it is not.) Richard Shenkman, "Legends, Lies & Cherished Myths of American History."
    1765 - Patrick Henry denounced the Stamp Act before Virginia's House of Burgesses. Henry responded to a cry of "Treason!" by saying, "If this be treason, make the most of it!"
    1787- Just five days after the Constitutional Convention met at Philadelphia, PA, the Virginia Plan" was proposed. It called for establishment of a new governmental organization consisting of a legislature with two houses, an executive (chosen by the legislature) and a judicial branch.
    1790- Rhode Island, the last of the 13 original states, ratified the Constitution. Known as the " Ocean State" Named Italian Explorer Giovanni da Verrazano
noted that, the area we know as Rhode Island, looked about the size of the tiny Greek Isle of Rhodes. Rhode Island's capital city is Providence. The violet is the state flower. Probably the most famous variety of chicken, the Rhode Island Red, is the state bird.
    1844--The first "dark horse" presidential candidate was James Knox Polk. His name appeared for the first time on the eighth ballot at the Democratic convention in Baltimore, MD. On the ninth ballot, amid great confusion, the convention stampeded for him.
    1848-The "Californian" complained: "The whole country from San Francisco to Los Angeles, and from the sea shore to the base of the Sierra Nevada's, resounds with the sordid cry of gold, GOLD, GOLD! while the field is left half- planted, the house half built, and everything neglected but the manufacture of shovels and pickaxes." "The Californian" also announced suspension of publication because of staff leaving for the diggings.
    1848- Wisconsin became the 30th state. The nickname is the Badger State. It is not named after the small animal, but the many lead miners in the grass lands who were called badgers in the early 1800's. The land of lakes and large expanses of green gave name to Wisconsin' Wisconsin, is thought to be the Chippewa Indian word for "grassy place".) The wood violet is the state flower. The robin is the state bird. Madison is the capital city. Wisconsin's nickname is the Badger State, but it is not named after the little animal, as you might have thought. It seems that the many lead miners in the Wisconsin grass lands in the 1830s were called -- badgers. Following approval of statehood by the territory's citizens, Wisconsin enters the Union as the 30th state. In 1634, French explorer Jean Nicolet landed at Green Bay, becoming the first European to visit the lake-heavy northern region that would later become Wisconsin. In 1763, at the conclusion of the French and Indian Wars, the region, a major center of the American fur trade, passed into British control. Two decades later, at the end of the American Revolution, the region came under U.S. rule and was governed as part of the Northwest Territory. However, British fur traders continued to dominate Wisconsin from across the Canadian border, and it was not until the end of the War of 1812 that the region fell firmly under American control. By 1840, population in Wisconsin had risen above 130,000, but the people voted against statehood four times, fearing the higher taxes that would come with a stronger central government. Finally, in 1848, Wisconsin citizens, envious of the prosperity that federal programs brought to neighboring Midwestern states, voted to approve statehood. Wisconsin entered the Union the next May.
(also the lower part of:
    1865- President Andrew Johnson issued a proclamation giving a general amnesty to all who participated in the rebellion against the US. High ranking members of the Confederate government and military and those who owned more than $20,000 worth of property were excepted and had to apply individually to the President for a pardon. Once an oath of allegiance was taken, all former property rights, except those in slaves, were returned to the former owners.
    1903-birthday of Bob Hope ( Leslie Townes Hope) born, England, 1903. Comedian, entertainer, actor: 'Road' series with Bing Crosby and Dorothy Lamour. The Road to Singapore, Zanzibar, Morroco, Utopia, Rio, Bali, Hong Kong; multitude of other films; nightclub entertainer, countless TV specials; host of The Academy Awards; possibly best known for his USO tours and entertaining of troops overseas and on the front lines during World War II, the Korean War, the Viet Nam War and even during Desert Storm; "If I could live my life over, I wouldn't have time!")
    1912--- Curtis Publishing, publishers of the Ladies Home Journal fires 15 women for dancing the "Turkey Trot" on their lunch hour. The magazine would not have a woman editor until the 1970s.
    1917-birthday of President John F. Kennedy. Many of us know where we were the time we learned of his death. On the Tonight Show, Jay Leno asks people on the street if they know what the Berlin Wall was or who Kennedy defeated in the bid for president. One young person said he was the husband of Jackie Kennedy. 35th president of the US (1961-63), born at Brookline, MA. Assassinated while riding in an open automobile at Dallas, TX, November 11, 1963. (Accused assassin Lee Harvey Oswald was killed at the Dallas police station by a gunman, Jack Rubenstein (Ruby), two days later). Kennedy was the youngest man ever elected to the presidency, the first Roman Catholic, first to win Pulitzer Prize [book: Profiles in Courage and the first president to have served in the US Navy. He was the fourth US president to be killed by assassin*, and the second to be buried at Arlington National Cemetery (first was William Howard Taft). 1
    919-Charles Strite of Stillwater, MN, received a patent for a toaster with a pop-up action. His device could both toast and eject bread when positioned over a fire.
    1922-The Supreme Court, in a decision written by Justice Oliver Wendell Holmes, declared that baseball "would not be called trade or commerce in the commonly accepted use of those words." The Court rejected the suit of the Baltimore Federal League Club that wanted baseball made subject to federal antitrust legislation and interstate commerce regulation.
    1925-Fletcher Henderson records " Sugar Foot Stomp"
    1935-Jimmy Lunceford Band records "Four or Five Times."
    1935- The first occupants arrived at the first drug treatment center for addicts established by Congress: U.S. Narcotics Farm at Lexington, KY, which covered 100 acres of a 1,050-acre plot.
    1942 - The biggest selling record of all time was recorded. A little out of season, perhaps, but "White Christmas", the Irving Berlin classic, was recorded by Bing Crosby for Decca Records. The song was written for the film "Holiday Inn". More than 30-million copies of Crosby's most famous hit song have been sold and a total of nearly 70-million copies, including all versions of the standard, have been sold.
    1943 - Norman Rockwell's portrait of "Rosie the Riveter" appeared on the cover of "The Saturday Evening Post." Rockwell's model was Mary Keefe (19) of Arlington, Vermont. In 2002 the painting sold at auction for $4,959,500.
    1944--GALT, WILLIAM WYLIE Medal of Honor Rank and organization: Captain, U.S. Army, 168th Infantry, 34th Infantry Division. Place and date: At Villa Crocetta, Italy, 29 May 1944. Entered service at: Stanford, Mont. Birth: Geyser, Mont. G.O. No.: 1, 1 February 1945. Citation: For conspicuous gallantry and intrepidity above and beyond the call of duty. Capt. Galt, Battalion S3, at a particularly critical period following 2 unsuccessful attacks by his battalion, of his own volition went forward and ascertained just how critical the situation was. He volunteered, at the risk of his life, personally to lead the battalion against the objective. When the lone remaining tank destroyer refused to go forward, Capt. Galt jumped on the tank destroyer and ordered it to precede the attack. As the tank destroyer moved forward, followed by a company of riflemen, Capt. Galt manned the .30-caliber machinegun in the turret of the tank destroyer, located and directed fire on an enemy 77mm. anti-tank gun, and destroyed it. Nearing the enemy positions, Capt. Galt stood fully exposed in the turret, ceaselessly firing his machinegun and tossing hand grenades into the enemy zigzag series of trenches despite the hail of sniper and machinegun bullets ricocheting off the tank destroyer. As the tank destroyer moved, Capt. Galt so maneuvered it that 40 of the enemy were trapped in one trench. When they refused to surrender, Capt. Galt pressed the trigger of the machinegun and dispatched every one of them. A few minutes later an 88mm shell struck the tank destroyer and Capt. Galt fell mortally wounded across his machinegun. He had personally killed 40 Germans and wounded many more. Capt. Galt pitted his judgment and superb courage against overwhelming odds, exemplifying the highest measure of devotion to his country and the finest traditions of the U.S. Army.
    1949-Hermosa Beach's Lighthouse starts Sunday jams, West Coast jazz is born. In the late fifties and early sixties we would go here to see Shelly Manne, Art Pepper, Andre Previn, Jimmy Giuffree, and others.
    1949---Top Hits
Riders in the Sky - Vaughn Monroe
Again - Doris Day
Some Enchanted Evening - Perry Como
Lovesick Blues - Hank Williams
    1952-Charlies Parker opens at the Tiffany Club, Los Angeles.
    1953- New Zealand explorer Sir Edmund Hillary and Tensing Norgay, a Sherpa guide, became the first team to reach the summit of Mount Everest, the world's highest mountain.
    1957---Top Hits
All Shook Up - Elvis Presley
Love Letters in the Sand - Pat Boone
A White Sport Coat (And a Pink Carnation) - Marty Robbins
Four Walls - Jim Reeves
    1958- Kenny Washington Birthday,,507593,00.html?artist=Kenny+Washington
    1961 - Ricky Nelson reached the top spot on the "Billboard" singles chart with "Travelin' Man". It was Nelson's second chart-topping hit. "Poor Little Fool" made it to the top in August of 1958.
    1961-Chubby Checker wins a Grammy Award for Best Rock and Roll Recording for "Let's Twist Again" and Ray Charles is given the nod for Best Rhythm & Blues Recording for "Hit The Road Jack".
    1961--Birthday of Rock'n'Roll singer Melissa Etheridge, openly declared her lesbianism in the album Yes I Am (1993). It went platinum, the same as her others. After an eight -year relationship with film editor Julie Cypher, (the actual birth mother), the two had a baby girl in 1997, Bailey Jean - an event that rated huge coverage in most of the news magazines.
    1962 - John (Buck) O'Neil became the African-American coach in major-league baseball. He accepted one of the six coaching jobs with the Chicago Cubs. O'Neil had previously been a scout with the Cubs organization. The first African-American manager of a major league team was Frank Robinson, who was hired by the Cleveland Indians as both player and manager on October 3, 1974. As in perhaps the great majority of the sports, while many African-American players, there are in proportion few African American coaches.
    1965---Top Hits
Help Me, Rhonda - The Beach Boys
Back in My Arms Again - The Supremes
Wooly Bully - Sam The Sham and The Pharoahs
Girl on the Billboard - Del Reeves
    1965 - Ralph Boston set a world record in the broad jump at 27-feet, 4-3/4 inches, at a meet held in Modesto, CA.
    1965-"Help Me Rhonda", featuring the lead vocals of rhythm guitarist Al Jardine, became The Beach Boys second Billboard chart topper.
    1968-The Chambers Brothers appearing at Fillmore Auditorium Hear this concert free, but you will need to register
    1970 - Mike Cuellar of Baltimore became one of just 11 major-league hurlers since 1900 to strike out four batters in one inning -- because the catcher dropped the third strike of the third out.
    1972-President Richard Nixon and Soviet Party Leader Leonid Brezhnev released a joint communiqué after Nixon's weeklong visit to Moscow. During the visit the two men acknowledged their major differences on the Vietnam War, signed a treat on antiballistic missile systems as well as an interim agreement on limitations of strategic missile sand an agreement for a joint space flight in 1976. This was the first visit ever to Moscow by a US President (May 22-30, 1972).
    1972 - The Osmonds received a gold record for the album, "Phase III".
    1973---Top Hits
Frankenstein - The Edgar Winter Group
My Love - Paul McCartney & Wings
Daniel - Elton John
Satin Sheets - Jeanne Pruett
    1977-A. J. Foyt became the first driver to win four Indianapolis 500's, but he had to share headlines with Janet Guthrie, the first woman to drive in the famous race. Foyt won his first Indy in 1961 and repeate4d in 1964 and 1967. Guthrie was forced out of the race after 27 laps because of mechanical problems. She finished 29th out of 33 entries. The following year, she qualified again, and finished ninth. Guthrie was an aerospace engineer before she started competitive driving in the 1960's.
     1978 - The 13-cent postage stamp became the 15-cent postage stamp when new U.S. rates to mail letters went into effect.
    1981---Top Hits
Bette Davis Eyes - Kim Carnes
Being with You - Smokey Robinson
Stars on 45 medley - Stars on 45
Seven Year Ache - Rosanne Cash
     1989---Top Hits
Forever Your Girl - Paula Abdul
Rock On - Michael Damian
Soldier of Love - Donny Osmond
After All This Time - Rodney Crowell
    1990-Ricky Henderson of the Oakland A's stole the 893rd base of his career, thereby breaking Ty Cobb's American League record, in a game against the Toronto Blue Jays. * Presidents killed by the incompetence of their doctors
George Washington - bled to death by his doctors as treatment for "inflammatory quinsy"
James Garfield - whose doctors contaminated his bullet wound so that he died of infection.
Assassinated presidents
Abraham Lincoln - assassinated by John Wilkes Booth
James Garfield - assassinated by Charles J. Guiteau
William McKinley - assassinated by Leon F. Czolgosz
John Kennedy - assassinated by Lee Harvey Oswald
Presidents who suffered attempted assassinations
Andrew Jackson - would-be assassin: Richard Lawrence (both derringers misfired)
Harry Truman - Oscar Collazo and Griselio Torresola attempted to storm Blair House, residence of Truman
Gerald Ford - would be assassins: Lynette "Squeaky" Fromme and Sara Jane Moore, in two separate incidences
Ronald Reagan - shot and wounded by John W. Hinkley, Jr
Presidents who died in office of natural causes
William Henry Harrison - died of "bilious pleurisy"
Zachary Taylor - died of cholera morbus
Warren Harding - died of pneumonia or stroke
Franklin Roosevelt - died of cerebral hemorrhage



Baseball Poem

How It All Started

It all started
when Pedro threw a no-hitter on Opening Day.
Nomar backed him up
with a triple play deep in the hole
and Manny Ramirez smashed
the first of 90 home runs.

Suddenly things got brighter.
Flowers sprang whole from the earth
and the cod swarmed to George's Bank.
The war ended. U.S. Marines
danced in the streets with handsome Fedayeen.
(Jerry Falwell married them off
while the Pope and the imams cheered.)

Israel and Palestine agreed
to share everything: beds, cities, streets,
temples and mosques,
falafel and coffee and tea.
Air pollution stopped
along with global warming and gum disease.

The Sox won it all of course,
beating the Yankees in three
and the Yankees in four
and the Yankees in five
(they lost one just to keep the Series alive).
Mia Hamm hit a grand slam
to put it away in the ninth.

Boston exploded with joy.
Babe Ruth signed the game-winning ball
and nobody sold it on E-bay.

That's how it all started.
At least, that's what I recall





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