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Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k), 4) Aggressive Commission Structure.
Resumes To: careers@envisioncapitalgroup.com, Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employers, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.

Tuesday, May 18, 2010


Singer/Actor George Strait born May 18, 1952 Poteet, Texas. Strait has sold more than 68.5 million albums in the United States and his certifications from the RIAA include 13 multi-platinum, 33 platinum and 38 gold albums.
http://en.wikipedia.org/wiki/George_Strait


Headlines---

  Classified Ads---Asset Management
Allied Health and Donner Medical/LPV 102
 by Christopher Menkin
  Arvest Claims 21% Increase Leasing Business
   But Net Income is Down
Bank Beat---Construction/Land Development Loans
 Top Stories May 10-14
  Classified Ads---Help Wanted
 Leasing 102 by Mr. Terry Winders, CLP
  "Limited Use Property"
   Atty gets jail time fraud/filing false tax return
 Alpharetta, Georgia - Adopt-a-Dog
News Briefs---
 Detroit to Demolish 10,000 Abandoned Properties
  Amendment companies less 85% finance exempt reg.
   (GE and others would be exempt)
    Payday loans feeling squeezed by proposed fin. reform
     Q1 Credit Card Delinquency Rates Fall
  Credit card overhaul cuts bank fees by $5B
     California Nuts Brief---
      "Gimme that Wine"
     Today's Top Event in History
      This Day in American History
       Poem—“Look at that Girl”
        by Barry S. Marks, Esq.
       SuDoku
      Daily Puzzle
     GasBuddy
   Weather, USA or specific area
     Traffic Live----


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

[headlines]
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Classified Ads---Asset Management

Haverhill, MA
Started in credit and collections 30 years ago with a private agency. My skills are negotiating with Attorney's, Insurance Companies & Large & small companies.
cityofpa@earthlink.net | Resume

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.
golfadm@yahoo.com

Santa Barbara CA (will relocate)
Experienced Asset Manager of various portfolio's for a bank, broker and leasing company. Utilized specialized remarketing companies to maximize collateral values. Worked remote two years.
geoff.taylor@verizon.net | Resume

| Reference 1 | Reference 2


For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Other e-Mail Posting Sites:
http://www.leasingnews.org/Classified/Posting_sites.htm

 

 

[headlines]
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Allied Health and Donner Medical/LPV 102
by Christopher Menkin


LifeCare LPV 120


This is part II of the Kingsbridge Holding, LLC, Lake Forrest, Illinois, suit against Allied Health Care Services, Inc., 89 Main St., Orange, New Jersey. Simply put Allied was in default on a $1 million lease to Kingsbridge Holding, LLC, Lake Forest, Illinois, they reported; December, January, February payments were late, which they were concerned about, but the suit was filed because Allied had not made their March, April, May payments. Other leasing companies had similar late payment information, no payment, and one had an ACH closed, Leasing News was informed. Ray Butler, Butler president of Amsource Capital, Lewisville, Texas, who was reportedly now coordinating new lease applications, told Leasing News:

"The last time I spoke with Chuck he told me he was in final negations with a new bank to replace Sun Bank and that everything should be back on track to catch up past due payments by June 1st. I knew Allied was behind anywhere from 30 to 90 days with some lenders but did not know any had formally defaulted their loans."

Several of the creditors are calling daily, they say, and a recent story is a $20 million line of credit is to happen by June 1st, they are told.

The founder and president, Charles Schwartz, who personally guaranteed all the leases, did not return telephone calls or emails. The corporate secretary Sherrie L Mulligan mail box was full.

There was a flurry of telephone calls and emails following the original from the February 19th Leasing News edition asking for information from readers. Over 50 leasing companies called then as well as those who had seen the package and turned it down. This time following the May 14th News Edition, the calls were many from leasing companies who had seen the package and why they turned it down. One told Leasing News when he recently saw the same package from six different leasing brokers in the same time period, which was enough for him. Others related what they saw and their opinion; none wanted to be quoted.

It appears there were $15 million in new leases for Allied that were capitalized last year, and approximately $5 million in 2010 to date, with packages being sent around for leases anywhere from $500,000 to $5 million.

In a follow-up to original conversations, looking to where the transaction originated, it was interesting to learn the leasing companies who are pretending to be a funder (perhaps a much used advertising pose such as being a "direct lender") were comments such as “not my problem, I don't have any exposure," or "I sold that off non-recourse and it's not my worry." Again, these remarks, all “off the record” were not from independent brokers but lessors. They came from calling companies on the UCC as it appears several are from discounters.

This may be from the 20 day rule, although not fully understood as in January, a source had an application for $1 million, was told there was $3 million being sought, and $2 million to be taken down in January from equipment delivered to Allied in December. Some of the information obtained came from those who had questions they were asking Leasing News and wanted opinions on financial statements and tax returns (on both the Allied and Donner.) In addition, companies with leases also sent in financial information and other data, asking for an opinion, with all information to be held confidential. The interesting aspect was the corporate and personal tax returns of the vendor. While they are interesting in themselves, the comment concerns a vendor submitting there two year business and personal tax returns to a broker to obtain a lease.

It should also be noted during the course of the conversations with the many leasing companies, it was learned there were a handful of brokers who were presenting the package in the very beginning, who evidently have run out of sources, as new brokers are now making presentations. The same call was made regarding Equipment Acquisition Resources(s) lease presentations. The E.A.R. leases were controlled by one lady who was being paid points by E.A.R., and in some instances, points also from the place where the lease was placed. Leasing News was told E.A.R. was aware of the situation, but the main idea was to control where the leases were sent, especially if turned down or a lease opened, so it would not be sent to the same place.

Yes, you guessed it several of the brokers were the same with Allied as with E.A.R., one in particular. A president of a bank told me the main reason he looked at the transaction, which was very large for his bank size, in my opinion (looked it up in the FDIC records), the broker was an “icon” in the leasing industry.


The above came from a 2010 site inspection by a major company in the finance and leasing business. After reading the report that the inspector said the equipment was “in new condition.” The lessor was told it was “used.” And the answer to the question, “ Did you obtain or correct any make or model/serial number information: “no.”

Here are photo’s the inspector took of the “new” equipment:

 

There appears to be one main vendor for all the equipment: Donner Medical Marketing, Con., Inc. 70 Sutton Drive, Berkeley Heights, NJ 07922. The sole owner is Bruce Donner. He reportedly works out of his house.


It appears he does not have any employees, although may hire others in a difference capacity. Both bankers who visit the Allied office were aware of this, they told me, and saw nothing wrong in the situation for a $1 million lease that they approved.


(1018 Oak Street, Roselle, New Jersey; Google)

The website www.donnermedical.com went up in March, perhaps April of this year, as the domain was registered February 29, 2010 (http://whois.domaintools.com/donnermedical.com). The company did not have one until then. It is interesting to note web site does not reflect the address on the invoices or the fact of administration as reported to others as his house, but notes the warehouse address: 1018 Oak St. Roselle, New Jersey 07203.

The site basically gives information about the company as well as saying Donner Medical Marketing went into business 25 years ago; 1990 went into servicing; and 1995 in distribution completing over $40 million in sales since inception. Actual date of incorporation shows September 4, 1986.

Most unique are the facts the major supplier of “used” or “refurbished” Lifecare Products PLV Home Care Ventilators the the $5,000 prices remains the same for several years. It appears as if Donner Medical Marketing is the exclusive sales arm of Allied that acquires the equipment and Bruce Donner’s corporation gets a commission as any sales distribution company would.

It also may be Donner has an exclusive inventory of LPV 120’s, or a source that sells it to him at a price that he sells back with a 3.19% commission.

The equipment in all the leases viewed by Leasing News were either LifeCare or Respironics or Respironics LifeCare and then finally Lifecare LPV 102, all selling at $5,000 each. No sales tax as in both New Jersey and New York, where Allied said they had their rentals, there is no sales tax on this type of medical equipment, nor personal property tax, verified by state codes.

"LPV-102 Portable Volume Ventilators are early 1990 models from Lifecare, who was purchased by Respironics in 1996 and the machines then were Respironics LifeCare. December 21, 2007, Royal Phillips purchased Respironics."

http://en.wikipedia.org/wiki/Respironics

Philips electronics eventually came out with their own model, one of them is Respironics V200, and ceased production of the LPV series machines in 1998. There were some models, but not 102’s produced in early 1999, according to Philips website.

While the invoices do not spell out much information, as units appear to have different motor sizes and other criteria, this was quite casual, particularly for a $1 million lease.


Both brokers and leasing companies were basically told three things, they report: the machines were reconditioned, were "refurbished" or considered new because they were in their original box.

All of the many invoices Leasing News saw from Donner were on a small page with description of equipment being LPV-120 (nothing else). Brochures with submissions showed LifeCare LPV-120, some Respironics LPV-120A and LPV-120B. (1) On line, companies who maintain the equipment had quotes based on refurbishing by the equipments motor size. None of the invoice spelled out the complete names nor motor or further description. Many had serial numbers in sequence, but not spelled out, but such as 23487-23497, and the vendor responded that was they way he did invoices as the unit serial numbers were all in sequence.

In checking out the marketplace, these units retailed from $995 to $1500, with the average price of $1250. These were for one unit, not a discount for more than one. The dealer, who rented them for $200 a month on a rental contract, including the care of the equipment with a free loaner, also offered at $256 a month and own at the end (2)

One dealer said he sold a unit at $895 has it needed a lot of work, but the buyer wanted for parts. He had at one time 60 from an acute-rest home facility, and most were sold to South American hospitals, who pay a premium for such equipment, the full $1500. He had only one unit for sale at $1250 left. He said they were becoming more difficult to find, especially since newer units are available and insurance companies prefer them, using the "refurbished" as a back up unit. It was required to have two, and individuals often had three, one in case a unit out for refurbishing and the back-up didn't work, as it could mean life or death.

A Medicare spokesperson told Leasing News that they reimbursed 80% and either the patient or insurance would take care of the 20%. As to price, that was up to the dealer and the spokesman said she was not aware of any guidelines on what unit to choose and what was the price, generally relaying on what the dealer and the user decided that fit Medicare requirements. Asked what that was, Leasing News was told to talk to a dealer who would know what plans were available for the specific equipment. Medicare does require the machines become the property of the patient at a specific period of time, she said.

Another unique aspect of this is what was considered a "site inspection." The lessors were all told because of Hippa laws, the name and address of the sub-lessee could not be given, nor a site inspection. Therefore all those requested were done at Allied's place of business, which also is not uncommon in a rental yard business where the equipment may be rented out for a day or longer to various locations. Although most of these were on longer contracts, Hippa was brought up.

During this time two bank presidents, community banks would be the best description, who Leasing News has talked to, visited Allied. One reported seeing checks from insurance companies and Medicare, as well a sample of some invoices.


(Click image to view larger)

One bank president told Leasing News he talked to several employees (although reportedly 33, they were only a few as the rest were out on service calls.) One had been their ten years and reported it was a very busy operation with a lot of work. Both were satisfied with what they saw and heard.

"Ventilators should receive full preventive maintenance at least once a year or after 6000 hours of use, whichever comes first. An internal counter tracks the hours of usage, and usage can be read from the patient pressure meter on the front panel. Vents can only be serviced by manufacturer-trained technicians."

http://www.msdistributors.com/BioMed/MEH/RPPLV.htm

Caution: U.S. federal law restricts these devices to sale by or on the order of a physician. This does not apply to those in the business, selling to each other for re-sale or “rent.”


  1. brochure on LPV 102 http://leasingnews.org/PDF/Allied_Health_Ventilator_Equipment_Brochure.pdf

  2. Quote on monthly payment/rent to own
    http://leasingnews.org/photos/IntegratedQuote.jpg

Kingsbridge Files Against Allied Health for $1 Million
http://leasingnews.org/archives/May2010/5_14.htm#kingsbridge


[headlines]
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Arvest Claims 21% Increase Leasing Business
But Net Income is Down


Arvest bank announced in a press release on Monday that they had "... a 21% increase in new business volume through their Equipment Finance Division for 2009 as compared to 2008, an achievement that defies the national trend. According to the Equipment Leasing and Finance Association, overall new business volume for lenders and lessors showed a 22% decline in the fourth quarter of 2009 compared with the fourth quarter of 2008 and a year over year decline in new business volume of almost a third."

New business may be up, but income for the bank has been down.

Records by the FDIC report the bank has gone from $978 million net equity year-end 2008 to a $1.1 billion net equity year end, however noncurrent bank loans increased from $162 million to $240.7 million following a $80.2 million net income in 2008 to $47.5 million income in 2009, after charge offs of $70.5 million.

The FDIC shows the charges at year-end to be $8 million construction and land development, $990,000 secured by farmland, $16.19 million in 1-4 multi-family residential, and $16.4 million in nonfarm nonresidential property. No loss in “lease receivables.”

There also was a write off of $8.29 million in commercial and industrial loans, $21.6 million in loans to individuals, $7.2 million in credit cards. $551 in other loans and then a recovery of $6.39 million that makes it $70.5 million charge off. Tier 1 risk-based capital ratio: 10.99%

FDIC reports first quarter net income was $7.6 million. There was no breakdown of leasing activity, although it did not show any “lease financing” write-offs.

Kyle W. Gilliam, president of Arvest Equipment Finance was quoted in the press release: “We look for the best quality credits while at the same time providing customized solutions to fit our commercial customers equipment financing needs. While many leasing companies have gone out of business lately due to poor credit decisions and lack of capital, we continue to be cautious and don’t take unnecessary risks just to win business.”

“The current economy has fueled the trend to lease equipment because loans usually require a large down payment. Leasing helps business owners conserve much-needed working capital to operate and grow their business in these unprecedented economic times. In addition, in most cases, we can provide our customers with the option to finance 100% of the equipment cost,” stated Gilliam.

It was noted that the Arvest’s leasing division "...was founded in early 2007 in order to make funding business purchases, particularly depreciating equipment, easier for customers by providing them with an option to traditional financing methods."

The web site: https://www.arvest.com/?page=business/financing/equipment

 

[headlines]
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Bank Beat---Still Construction and Land Development Loans


A reader wrote, "I read your letter daily. The part that I get the least value from is the one on banks (I have never heard of most of them). Most of the ones you report on are not active in our industry. I suggest you poll your advisors to see if they think there is enough value in this section to continue it."

Leasing News always appreciate readers opinion. “Beat Beat” often makes the Top Ten most read by readers. It is also picked up by Google, Yahoo, and several news services as it is the only complete weekly list of reasons why all the banks filed that week, including specific details.

Whether small or large, these bank failures affect leasing tremendously. The overwhelming majority have huge charges offs and loans in commercial real estate and land development, not subprime mortgages. It substantiates the Equipment Leasing and Finance Industry MFLI-25 report about the largest group not leasing or financing: construction. This has a wave affect also on unemployment, and businesses who supply construction from clothing to restaurants to a second income in a family. It also shows why banks, 86% of those surveyed by Greenwich Associates and FTRANS, were moving away from commercial real estate loans.

In each of these reports the majority of the banks have not had a profit for two years, some three years, with declining equity and the investors, primarily community businesses, some retired, and community leaders, lose a lot of money and their financial contribution to the community as this loss affects them and therefore affects the rest of the community.

There are vivid exceptions to the construction and land development loan losses, cities such as Chicago and Detroit and surrounding suburbs are definite exceptions as high unemployment has seen many abandoned homes (Please see News Briefs on 10,000 homes abandoned in Detroit).

 

Eleventh bank to fail in Illinois bringing the total this year to 72 bank failures, doubling last years pace in bank foreclosures, was Midwest Bank and Trust Company, Elmwood Park, Illinois was closed with Firstmerit Bank, National Association, Akron, Ohio, to assume all of the deposits to take over deposits.

There were 23 branches. s of March 31, 2010, Midwest Bank and Trust Company had approximately $3.17 billion in total assets and $2.42 billion in total deposits. Firstmerit Bank, National Association will pay the FDIC a premium of 0.4 percent to assume all of the deposits of Midwest Bank and Trust Company. In addition to assuming all of the deposits of the failed bank, Firstmerit Bank agreed to purchase essentially all of the assets.

The bank founded in December 10, 1959 had gone from 531 full time employees to 413 full time employees. Their market as Chicago-Joliet-Naperville. The bank had gone from $61 million in non-current loans the year-end 2008 to $273 million ear-end 2009 with bank capital dropping from $356 million to $187, million following $83.3 million in charge offs ($35 million in construction and land development,$19 million in commercial and industrial loans, $11.6 million in 1-4 multi-family homes, $2.9 in secured by residential property, and a few other categories.)Tier 1 risk-based capital ratio: 11.95%.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $216.4 million.
http://www.fdic.gov/news/news/press/2010/pr10116.html

The next three are small banks:

The sole branch of Satilla Community Bank, Saint Marys, Georgia was closed with Ameris Bank, Moultrie, Georgia, to assume all of the deposits. They had 19 full time employees, founded November 21, 2001, located in Camden County with 48,277 residents.

Non-current loans and leases were $15 million along with $5.4 million in charges offs: $2 million in construction and land development, $1 million in nonfarm non residential property, $233,000 in 1-4 multifamily homes, $2.45 million n commercial loans. Bank equity had gone from $12.2 million year-end 2008 to $5.2 million, following at $2.4 million loss year-end 2008 and $6.85 million loss year-end 2009.

As of March 31, 2010, Satilla Community Bank had approximately $135.7 million in total assets and $134.0 million in total deposits.

Ameris Bank will pay the FDIC a premium of 0.19 percent to assume all of the deposits of Satilla Community Bank. In addition to assuming all of the deposits of the failed bank, Ameris Bank agreed to purchase essentially all of the assets. The FDIC and Ameris Bank entered into a loss-share transaction on $101.0 million of Satilla Community Bank's assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.3 million.
http://www.fdic.gov/news/news/press/2010/pr10113.html

The sole branch New Liberty Bank, Plymouth, Michigan closed with Bank of Ann Arbor, Ann Arbor, Michigan. As of March 31, 2010, New Liberty Bank had approximately $109.1 million in total assets and $101.8 million in total deposits. The FDIC and Bank of Ann Arbor entered into a loss-share transaction on $95.2 million of New Liberty Bank's assets.

This bank was hit by the down economy which caught them not only in construction and land development, but residential homes. (Please see in News Briefs the story on destruction of 10,000 homes abandoned)

There were $9.5 million in non-current loans at the end of the year as the bank equity had dropped from $5.7 million year-end 2008 to $1.97 year-end 2009. The bank had lost $4.4 million the year before and in 2009 it lost $3.9 million more. Charge offs were $3.8 million, almost $1 million in construction and land development, but $1.8 million in 1-4 multiply family homes, 1/2 million in commercial and industrial loans.

There were 16 full time employees at this small bank founded March 16, 2001 to serve Detroit, Warren, and Livonia, Illinois.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.0 million.
http://www.fdic.gov/news/news/press/2010/pr10114.html

The sole branch of Southwest Community Bank, Springfield, Missouri was closed with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits. As of March 31, 2010, Southwest Community Bank had approximately $96.6 million in total assets and $102.5 million in total deposits. The FDIC and Simmons First National Bank entered into a loss-share transaction on $66.8 million of Southwest Community Bank's assets.

The bank was founded September 16, 1996 and at year end had 19 full-time employees. Non-current loans at year end were almost $7.7 million as net equity went from $7.8 million to $2.7 million after a $280,000 profit in 2008 to a $5.1 million loss year-end 2009 following a $2.88 million charge off year-end 2009 ($1.2 million construction and land development, $1.4 million in 1-4 multi-family homes, and several other categories.)Tier 1 risk-based capital ratio 3.52%

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $29.0 million.
http://www.fdic.gov/news/news/press/2010/pr10115.html

List of Bank Failures
http://www.fdic.gov/bank/individual/failed/banklist.html

Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm


[headlines]
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Top Stories May 10-14


Here are the top ten stories opened by readers:

(1) Charlie Lester Passes Away
http://leasingnews.org/archives/May2010/5_12.htm#lester_obit

(2) Structured Business Capital, Huntington Beach, CA
Bulletin Board Complaint
http://leasingnews.org/archives/May2010/5_10.htm#structured_bbc

(3) Leasing Companies Out of Broker Business
http://leasingnews.org/archives/May2010/5_12.htm#out_bb

(4) Kingsbridge Files Against Allied Health for $1 Million
http://leasingnews.org/archives/May2010/5_14.htm#kingsbridge

(5) Marlin Profit is from “Evergreen” clause
http://leasingnews.org/archives/May2010/5_10.htm#marlin_profit

(6) Up-dated: Bulletin Board Complaint
Structured Business Capital, Huntington Beach, CA
http://leasingnews.org/archives/May2010/5_12.htm#bbc_structured

(7) Gary Souverein invites you to Fort Collins, Colorado
http://leasingnews.org/archives/May2010/5_14.htm#souverein

(8) Sales Makes it Happen---by Christopher Menkin
Use UCC's to Call on Lessees Whose Lessor is Gone
http://leasingnews.org/archives/May2010/5_12.htm#ucc_gone

(9) Clarification: Marlin Not Taking on Additional Brokers
http://leasingnews.org/archives/May2010/5_10.htm#marlin_brokers

(10) Pictures from the Past, 1977: Kalinski-Menkin
http://leasingnews.org/archives/May2010/5_14.htm#pictures


((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

[headlines]
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Leasing Industry Help Wanted

Sales

Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k), 4) Aggressive Commission Structure.
Resumes To: careers@envisioncapitalgroup.com, Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employers, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.




Seeking originators with 5+ years small ticket and/or
middle market experience and with established
customer and vendor relationships. Remote
office and on site positions are available.

Please send resumes to: jobs@teqlease.com
Attn: Mike Lockwood or Russ Runnalls CLP
www.TEQlease.com


Please see our Job Wanted section for possible new employees.

[headlines]
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Leasing 102
by Mr. Terry Winders, CLP


Limited Use Property

The most desirable equipment to lease is something that has a long useful life and maintains its value because it has a wide market. The least desirable is equipment with a short life and a questionable value because of a narrow market. I state this because it seems that it should be common knowledge or at least logical. However as I review lease portfolios to review their quality and performance I constantly find equipment very poorly described and no review what so ever. Just because equipment is large, expense and good looking does not make it good to lease.

If the credit is great we tend not to do our job correctly and review the equipment. This could be a problem if we are about to lease limited use property. The IRS will reject capital recover benefits if it is found the equipment has limited use or could only be used by the lessee. If the equipment is special order or made to compliment or become an attachment on another piece of equipment without being of value otherwise then they will only award capital recovery benefits to the lessee. Remember the IRS guidelines are based on “use”, not ownership. So if no one else could make use of the equipment then the only one allowed to take depreciation is the lessee. You also break the 80% use rule for legal and the 75% use rule for GAAP.

Residual value is only capable when the ability to remarket off lease equipment is greater than the cost to sell it. A guide book may define the estimated future value of equipment but it rarely defines how hard it is to sell or where to sell it. One of the things you should know before leasing equipment is where can I dump this thing if everything goes wrong? Try and keep records of every secondary market seller you contact so as time goes by you will build up a list of people that will supply you with information on what the risks are in out of the way markets. You must also consider storage, insurance, advertising, commissions and the time value of the money you have invested in the equipment until it is sold.

It is hard to know what industries will be up and which will be down when your lease terminates but the biggest risk today is how quickly the equipment becomes outdated. This all sounds like a reason not to take residuals but that is not true. It is a warning on the troubles you can get in for not investigating the equipment you want to lease with the same interest you investigates credit. Remember our industry starts with the word “equipment”.

Some questions to ask the vendor to ease your mind are: How many have you sold this year? Are spare parts readily available? Is it current technology, or new technology? (which means is it new to the marketplace or has it been around awhile), How much instillation is there? and do you remarket the off lease or used equipment?

If a vendor does not remarket there equipment in a used condition then ask who does and contact them about the ease of remarketing the equipment. If there is not a market for the used equipment or a very limited one then you may have limited use equipment on your hands which requires a non-tax leased and non-legal lease plus better than average credit!

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

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

Little Rock, Ark.

  

Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

June 9, 10, until Noon on the 11th
Little Rock, Arkansas
Hosted by Arvest Equipment Finance

$395.00 Paid in Advance for first person from company
$345 with each additional attendee 

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

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

[headlines]
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### Press Release ############################

Attorney gets jail time for fraud/filing false tax return


United States Attorney Karen P. Hewitt announced that Donald Yates, a California attorney who practiced law in San Diego, California, was sentenced in federal court today by U.S. District Judge Janis L. Sammartino to serve 30 months in prison and three years of supervised release based on his previous conviction for bankruptcy fraud and filing a false tax return. Judge Sammartino also ordered Yates to pay more than $192,000 in restitution to the victims of the bankruptcy fraud, which Yates paid prior to today's sentencing hearing.

According to court records, Yates pled guilty on November 6, 2009, to charges of bankruptcy fraud and filing a false tax return. In his plea agreement, Yates admitted that from June 2004 through August 2009, he fraudulently concealed from the bankruptcy trustee and Internal Revenue Service more than $190,000 in law practice receipts, settlement checks from personal law suits, and other funds by diverting them to his undisclosed offshore bank accounts in Switzerland and China.

Yates further admitted that he opened a Swiss bank account in 974 and deposited approximately $96,000 into the account, more than $71,000 of which he secretly deposited after filing bankruptcy. He endorsed one of his deposited legal fee checks with the name of his Panamanian corporation, which he formed without the Trustee's knowledge by traveling to Panama. He further admitted that in June 2003, one year before filing bankruptcy, he, and friends at his direction, wire transferred approximately $36,000 of his funds to his former girlfriend's bank account in China. The combined value of Yates' undisclosed Swiss and Chinese bank accounts exceeded $190,000.

In pleading guilty, Yates admitted that during the protracted bankruptcy proceedings, he testified falsely under oath and submitted false declarations and documents that concealed the existence and diversion of his income and assets, including his offshore bank accounts. As part of the plea agreement, Yates repatriated from Switzerland and China and transferred to the Trustee, more than $192,000.

In addition, Yates admitted that he filed fraudulent individual tax returns for the tax years, 2003, 2004, and 2006, by failing to report his ownership and control over his bank accounts in Switzerland and China. In his plea agreement, Yates agreed to cooperate with the Internal Revenue Service in its assessment and collection of all taxes, penalties, interest that he owes for the tax years 2003 through 2008.

The case was investigated by special agents of the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation.

DEFENDANT Case Number: 09CR3979-JLS
Donald Yates Age: 66 El Cajon, CA
SUMMARY OF CHARGES
Title 18, United States Code, Section 152(3) (Bankruptcy Fraud)
Title 26, United States Code, Section 7206(1) (False Tax Return)
AGENCIES
Federal Bureau of Investigation
Internal Revenue Service, Criminal Investigation

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

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Alpharetta, Georgia---Adopt-a-Dog


Animal ID 9378245
Breed: Shepherd/Basset Hound
Age:4 years 4 months
Sex:Female
Size:Large
Color: Black/Brown
Spayed/Neutered
No Small Kids
Adoption Price: $275.00

Brownie Baton Rouge is a sweet as she can be Shepherd/Basset Hound mix. She is 4 years old and is a goofy, playful puppy! She currently weighs 42lbs. Brownie has irresistible brown eyes and an adorable wrinkly face. She lost her home for circumstances beyond her control but is happy to meet new people and will be a wonderful addition to her future forever home! Brownie needs a home with adults only or children 10 and up.”

To fill out an application for Brownie Baton Rouge, please visit:
http://www.smalldoghumane.org/NeedtoKnow.htm

This pet also is eligible for 30 days of pre-paid pet health insurance. For more information please visit www.sheltercare.com or call 1-866-375-PETS.

Visit ThePetangoStore.com for discounted prices on pet medication and supplies! Low prices on Flea/Tick, Heartworm & more! Receive a 10% discount on your first order.

General Information
info@smalldoghumane.org
http://www.smalldoghumane.org/

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/

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News Briefs----

Detroit to Demolish 10,000 Abandoned Properties
http://online.wsj.com/article/SB10001424052748703950804575242433435338728 .html?mod=rss_US_News


Amendment companies less 85% finance exempt regulation
(GE and others would be exempt)
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/17/AR2010051701663.html

Payday loans feeling squeezed by proposed financial reform
http://www.chicagotribune.com/business/columnists/ct-biz-0517 -burns--20100517,0,5464711.column

Q1 Credit Card Delinquency Rates Fall
http://www.collectionscreditrisk.com/news/q1-credit-card-delinquency-rates-fall-3001740-1.html

Credit card overhaul cuts bank fees by $5B
http://www.usatoday.com/money/perfi/credit/2010-05-18-creditcardfees18_st_N.htm


California Nuts Briefs ---

Schwarzenegger to Democrats: Time to make 'Sophie's Choice' between pensions and poor
http://www.mercurynews.com/top-stories/ci_15105521



“Gimme that Wine”

 

Sonoma Jazz Weekend May 21-23
http://yourtown.pressdemocrat.com/2010/05/sonoma/sonoma-jazz-plus-ramping-up-for-the-big-weekend/

Sonoma Chardonnay
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/05/16/FDRS1DC98H.DTL

Livermore's Page Mill Winery Impresses
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/05/16/TRPB1D26NR.DTL

Mendocino County vineyards quarantined
http://www.pressdemocrat.com/article/20100513/ARTICLES/100519729/1036/business? Title=Mendocino-County-vineyards-quarantined-

Drew Bledsoe uncorks new career
http://www.bostonherald.com/sports/football/patriots/view/ 20100514drew_bledsoe_uncorks_new_career/srvc=home&position=also

Grgich-Hills tries sample bottles
http://napavalleyregister.com/lifestyles/food-and-cooking/wine/columnists/paul-franson/article_af292692-5f10-11df-ae29-001cc4c03286.html


Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Winery Atlas
http://www.carterhouse.com/atlas/\

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm

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Today in History

1897- The unveiling of a statue of George Washington at Philadelphia, PA, and President William McKinley was present. John Phillip Sousa wrote a march for the event, which is perhaps his most widely known,” The Stars and Stripes Forever.” He was in the U.S. Navy, stationed in Great Lakes, Illinois

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This Day in American History

    1631 -The General Court of the Massachusetts Bay Colony decreed that 'no man shall be admitted to the body politic but such as are members of some of the churches within the limits' of the colony. (Separation of church and state was an unthinkable concept in early American colonialism. In contrast to what is taught in schools, most were not escaping for religious freedoms, but were missionaries with strong prejudices against other religious groups except for their own.)
    1652- Rhode Island enacted a slavery emancipation law: “No blacken mankind or white... (maybe) forced by covenant bond or otherwise to serve any man or his assignees longer than ten years, or until they come to be 24 years of age, if they be taken in under 15, from the time of their coming within the Liberties of the Colonies, and at the end of termed of ten years... (are to be set) free, as is the manner with the English servants. And that man that will not let them goe free, or shall sell them elsewhere, to that end that they may be enslaved to others for a long time, he or they shall forfeit to the Colonie forty pounds.”
    1766- The Church of the United Brethren in Christ was organized in Lancaster, PA, under the leadership of Martin Boehm, 41, and Philip William Otterbein, 39. (It became a branch of the Evangelical United Brethren in 1946.)
    1798 - The first Secretary of the U.S. Navy was appointed. He was Benjamin Stoddert.
http://www.history.navy.mil/bios/stoddert.htm
http://www.mariner.org/usnavy/05/05d.htm
    1827 -- Josiah Warren opens his first Time Store in Cincinnati, Ohio — the first commercial cooperative. Warren, Josiah, 1798–1874, American reformer & anarchist, b. Boston. An early follower of Robert Owen, he soon rejected Owen's political socialism, advocating instead anarchy based on “the sovereignty of the individual.” Warren founded several “equity” or "time" stores, with the idea of exchanging goods for an equivalent amount of labor & on the principle that cost should be the limit of price. He also established three utopian colonies; the most successful was Modern Times (1851–c.1860), Long Island, N.Y. (now Brentwood). The most important of his publications was True Civilization (1863, 5th ed. 1875).
http://faculty.evansville.edu/ck6/bstud/warren.html
See "The Lemonade Ocean & Modern Times" by Hakim Bey,
http://www.evolutionzone.com/kulturezone/bey/lemonade.ocean.and.modern.times.html
http://www.blancmange.net/tmh/articles/manifesto.shtml
http://www.blackcrayon.com/people/warren/
    1836-- Cynthia Ann Parker, a blue-eyed blonde Caucasian woman, was captured by the Comanche at age nine. When U.S. soldiers found her four years later in a Comanche camp where she was living under the name "Prelock," she refused to return. She said she was happy living as a Comanche. ///In 1860 she and her infant daughter were captured in a U.S. army raid and were forcibly detained. She was sent to Parker's father. The infant died soon after capture and Prelock died in 1864, according to legend, by starving herself to death longing to go back to the Comanche way of life. ///Her eldest son Quanah became chief of the Kwahadi tribe which held out against the white man. Some called him the most ferocious Indian who ever lived. In 1875 he suddenly brought his people in and settled near the Wichita Mountains in Oklahoma and saw to it that Comanche children went to school and were educated.
    1849-Sailing ship "Grey Eagle" arrived in San Francisco with 34 passengers from the East in 113 days, a record at that time.
    1852- Massachusetts rules all school-age children must attend school
    1860 --Republican Party nominates Abraham Lincoln for president.
06 November 1860, Lincoln defeated his opponents with only 40% of the popular vote, becoming the first Republican to win the presidency. The announcement of his victory signaled the secession of the Southern states, which since the beginning of the year had been publicly threatening secession if the Republicans gained the White House. By the time of Lincoln's inauguration on 04 March 1861, seven states had seceded and the Confederate States of America had been formally established with Jefferson Davis as its elected president. One month later, the American Civil War began when Confederate forces under General P. G. T. Beauregard opened fire on Union-held Fort Sumter in South Carolina.
    1863- A new sport became available to Americans with the introduction of roller skating by James L. Plimpton. Plimpton invented the four-wheel skate, which worked on rubber pads, thus permitting skaters to change direction by shifting their weight to one side or the other without lift the wheels of the skate off the ground. Roller skating became fashionable in New York City and soon spread to other cities. In Newport, R.I., the Roller Skating Association leased the Atlantic House and turned its dinning room and plaza into a skating rink. In Chicago, the Casino could accommodate 3000 spectators and 1000 skaters. In San Francisco, a rink advertised 5000 pairs of skates available for rent.
    1863- Union General Ulysses S. Grant surrounds Vicksburg, the last Confederate stronghold on the Mississippi River, in one of the most brilliant campaigns of the war. On May 16, Grant fought the Confederates under John C. Pemberton at Champion's Hill and defeated them decisively. He then attacked again at the Big Black River the next day, and Pemberton fled into Vicksburg with Grant following close behind. The trap was now complete and Pemberton was stuck in Vicksburg, although his forces would hold out until July 4. In the three weeks since Grant crossed the Mississippi in the campaign to capture Vicksburg, Grant's men marched 180 miles and won five battles. They took nearly 100 Confederate artillery pieces and nearly 6,000 prisoners, all with relatively light losses.
    1864--The fighting at Spotsylvania in Virginia, reaches its peak at the Bloody Angle.
    1872 -- Bertrand Russell born (1872-1970), Trelleck, Wales. Philosopher, mathematician & social critic, one of the most widely read philosophers of this century. Awarded Nobel for Literature, 1950. Outspoken pacifist, imprisoned during WWI. Abandoned pacifism during WWII, but was a leading figure in the antinuclear movement. Imprisoned in 1961 for taking part in a demonstration in Whitehall. A pioneer of logical positivism. I took a course from him at UCLA and have read most of his books.
http://www.mcmaster.ca/russdocs/russell.htm
http://www.kirjasto.sci.fi/brussell.htm
http://www.sci.fi/~phinnweb/links/philosophy.html
    1883 - An F4 tornado tracked 20 miles through Kenosha and Racine Counties in Wisconsin. 8 people were killed and 85 were injured. The tornado made a spectacular exit as a multiple vortex waterspout over Lake Michigan and was described as: "whirling columns of air seemed like great wreaths of smoke, bearing with them spiral columns of water...a half dozen could be seen at a time, then all would disappear and new ones would reform".
    1896- Plessy v. Ferguson: the Supreme Court ruled separate-but-equal facilities constitutional on intrastate railroads. For fifty years, the Plessy v. Ferguson decision upheld the principle of racial segregation. Across the country, laws mandated separate accommodations on buses and trains, and in hotels, theaters, and schools. The premise was separate, but “equal.” When I first went to New Orleans in 1958, the facilities were not equal, but certainly separate. As I traveled in other parts of the South, Blacks would walk on one side of the main street, and whites on the other. Restaurants were “white only.” Rest rooms were “white only.” Even the French Quarter was quite segregated with “white only” jazz clubs, and further down you would find “black” or “Cajun,” which was even “rougher.” Drinks were much cheaper, the food simple, but delicious. We were musicians, so we never experienced any difficulty as often the two of use would be the only whites in the club. We had our own mouthpieces, as it was the tradition then, as I believe now, if you play someone else’s instrument, you used your own mouthpiece. I had both a clarinet and alto sax; Warren had his trumpet mouthpiece, which he carries still today when we have gone to places where he would be invited to play.
http://memory.loc.gov/ammem/today/may18.html
    1900--Birthday of author Laura Z. Hobson. She wrote revolutionary novels about social injustices. "Gentleman's Agreement" dealt with anti-Semitism, "Tenth Month," on unwed motherhood, "Consenting Adult," on homosexuality.
    1901-Birthday of Jeanette Macdonald, very popular U.S. singer-actor best known today for her singing over the ruins of San Francisco (1936) and duets with Canadian Mounties although she was an accomplished Broadway actor and a fine comedic player. She was one of the top money grossers of her era.
    1902 - An f4 tornado struck the town of Goliad, Texas, killing 114 people. No U.S. tornado disaster of similar magnitude has ever occurred further south than this event.
    1902 --Birthday of Meredith Wilson, composer and lyricist (The Music Man).
http://www.sfmuseum.org/hist/willson.html
    1911-Blues Shouter Joseph Vernon “Big Joe” Turner born Kansas, City, Mo-- one of the forefathers of rock 'n' roll. His 1950's recordings of such songs as "Shake, Rattle and Roll," "Honey Hush" and "Flip, Flop and Fly" are rock 'n' roll classics. But Turner had been singing for more than 20 years when these songs were recorded. In the 1930's, he teamed with boogie-woogie pianist Pete Johnson. Their appearance at John Hammond's famed "Spirituals to Swing" concert in 1938 helped spark the boogie-woogie craze of the time. In 1951, Turner began recording rhythm-and-blues for Atlantic Records. Many of his songs were rock 'n roll hits when recorded by white artists. Bill Haley turned "Shake, Rattle and Roll" into a million-seller in 1954 and Pat Boone had a pop hit with Turner's "Chains of Love" in 1956. In the '60s, Big Joe Turner turned to jazz singing, continuing to perform and record until his death on November 24th, 1985.
    1912—Perry Como birthday, born in Canonsburg, Pennsylvania. A self-described admirer of Bing Crosby, Como copied Crosby's singing style and relaxed approach. He was a barber whose first record, "Goodbye Sue," was a hit in 1943. And so was "And I Love You So," recorded more than 30 years later. His other successes have included "Till the End of Time," "Temptation" and "It's Impossible." On television, Perry Como was the host of "The Chesterfield Supper Club," "The Perry Como Show" and "The Kraft Music Hall." He was perhaps the most popular singer on television in the 1950's.
    1912-Birthday of Sylvia Porter, financial writer who first wrote under her initials because men would not pay attention to a woman financial writer. She was long been recognized as one of the finest authorities in the field.
    1922-Trombonist Kai Winding born Aarhus, Denmark
    1927 - Grauman's Chinese Theater on Hollywood Boulevard was opened, the first of the Fox chain of movie theaters. The lavish 2,200 seat theater cost $1 million to build. Its first film was shown on this date, Cecil B. DeMille's King of Kings, at the high price of $2.00 per seat. It was later renamed Mann's Chinese Theater.
    1927 -- Bath, Michigan School Disaster. Andrew Kehoe, seeking revenge against the community for taxes imposed on his farm to pay for a new school, set off a TNT bomb in the school, killing 43 people, including 39 grade-school children. After the explosion, Kehoe killed his wife, then drove his truck back, loaded with dynamite & nails, to the school, & set it off, killing himself & the school superintendent.
    1931-Bix Biederbecke joins Casa Loma Band for a date at Metropolitan Hotel, Boston.
    1933--- President Franklin Roosevelt signs the Tennessee Valley Authority Act.
    1942--Birthday of Rodney Dillard, of the electric bluegrass group, the Dillards, born in Salem, Missouri. Formed in 1962, the Dillards left their home state that year for Hollywood where they played a hillbilly band on TV's "Andy Griffith Show." Their albums contained songs by folk and rock composers such as Bob Dylan, and their use of electric instruments helped pave the way for such country-rock groups as the Byrds and the Eagles.
    1944- The Allies Captured Monte Cassino (you may remember the movie). There had been five Allied attempts to take the German position at The Benedictine abbey at Monte Cassino. Although the abbey had been reduced to rubble, it served as a bunker for the Germans and they could relay all activity in the area to airplanes and giant cannot attacks. In the spring of 1944 Marshal Alphonese Pierre Juin devised an operation that crossed the mountainous regions behind the fortress like structure, using Moroccan troops of the French Expeditionary Force. Specially trained for mountain operations, they climbed 4,850 feet to locate a pass. On May 15, 1944, they attached the Germans from behind. On May 18, Polish troops attached to this force took Monte Cassino.
    1945 - On Okinawa, the US 6th Marine Division, part of US 3rd Amphibious Corps, captures most of the Sugar Loaf Hill, as well as parts of the Half Moon and the Horseshoe positions that overlook it, after several days of bitter fighting. The US 1st Marine Division continues to battle for the Wana river valley and Wana Ridge but fails to eliminate Japanese resistance, even with flame-throwers and tanks in support. Meanwhile, the US 77th and 96th Divisions, parts of US 24th Corps, attack Japanese positions on Flat Peak without success.
    1945 - No. 1 Billboard Pop Hit: "My Dreams Are Getting Better All the Time," Les Brown Orchestra/Doris Day.
    1946---Top Hits
All Through the Day - Perry Como
The Gypsy - The Ink Spots
Shoo Fly Pie - The Stan Kenton Orchestra (vocal: June Christy)
New Spanish Two Step - Bob Wills
    1952 -- US / Canada: Which Side Are You on? Paul Robeson, in dramatic defiance of government’s ban on his leaving US soil, standing on a flatbed truck parked one foot inside the US border at the Peace Arch, in Blaine, Washington, speaks and sings to a crowd of 40,000 Canadians & Americans gathered on both sides of the border.
(My father Lawrence Menkin was a recipient of the Paul Robeson Award for producing and writing “Harlem Detective” in the early 1950’s for WOR-TV)
http://www.bayarearobeson.org/Chronology_7.htm
    1952--country singer George Strait was born in Pearsall, Texas. Strait's traditional country sound, influenced by Bob Wills, Merle Haggard, George Jones and Hank Williams, began to find favor at the beginning of the 1980's. His rise to popularity was due at least in part to a reaction against the slicker "urban cowboy" sound. Strait is now one of the biggest country stars, with such number-one hits as "Love without End, Amen," "Does Fort Worth Ever Cross Your Mind," "All My Ex's Live in Texas" and "I've Come to Expect It from You." His 1985 "Greatest Hits" album spent more than five years on the charts.
    1953 - Air Force Lieutenant Colonel George I. Ruddell, 51st Fighter-Interceptor Wing, became the 31st ace of the war after making his fifth MiG kill in an F-86 Sabre called "MiG Mad Mavis."
    1953 - The first woman to fly faster than the speed of sound, Jacqueline Cochran, piloted an F-86 Sabrejet over California at an average speed of 652.337 miles-per- hour.
    1953-- Robbie Bachman, drummer for Bachman-Turner Overdrive, was born in Winnipeg. The Canadian rock band, which also included Robbie's brothers Randy and Tim on guitars, was internationally popular in the 1970's with such hits as "Blue Collar," "Let It Ride," "Takin' Care of Business" and "You Ain't Seen Nothing Yet," a 1974 million-seller. At its peak, BTO won many polls and honors in the US, as well as seven Juno Awards.
    1954---Top Hits
Wanted - Perry Como
Little Things Mean a Lot - Kitty Kallen
If You Love Me (Really Love Me) - Kay Starr
I Really Don’t Want to Know - Eddy Arnold
    1955 - No. 1 Billboard Pop Hit: "Cherry Pink and Apple Blossom White," Perez Prado.
    1957-The Chicago White Sox and the Baltimore Orioles played a 1-1 tie, a game called precisely at 10:20pm so that the White Sox could catch a train out of Baltimore. The Orioles’ Dick Williams hit a home run on the game’s last pitch to tie the game and avoid defeat. The game was replayed from the beginning at a later date, and Baltimore won.
    1959--Wilbert Harrison's recording of Leiber and Stoller's "Kansas City" rose to the top of the Billboard singles chart. Cover versions by Hank Ballard and The Midnighters, Rocky Olson, Rockin' Ronald & The Rebels, and Little Richard all appeared in March of 1959, but the Harrison version was by far the most popular. Further success for Harrison would have to wait until 1970 when "Let's Work Together" made it to number 32 in the US.
    1960 - Salt Lake City, Utah received an inch of snow. It marked their latest measurable snowfall of record.
    1960 - No. 1 Billboard Pop Hit: "Cathy's Clown," The Everly Brothers.
    1962---Top Hits
Soldier Boy - The Shirelles
Stranger on the Shore - Mr. Acker Bilk
She Cried - Jay & The Americans
She Thinks I Still Care - George Jones
   1963-Lesley Gore's "It's My Party" enters Billboard's Top 40, where it will reach #1.
   1963-After hitting #22 the previous year with "Twistin' Matilda", Jimmy Soul reached #1 on the Billboard chart with "If You Wanna Be Happy". It would prove to be his final entry as the follow-up "Treat 'Em Tough" flopped completely, after which Jimmy entered the US Army.
    1965 -- Outer Space: Gene Roddenberry suggests 16 names -- including Kirk -- for Star Trek Captain. It will never fly say some. And small hand held devices that you can talk as if you are on a telephone anywhere, who would believe it. In the Next Generation they were on the shirt that you could turn on with a touch or vocal command or attach to your ear. Unheard of at the time; common today..
    1966 -PH Phactor Jug Band opened at 40 Cedar Alley near Polk and Geary in San Francisco. Does anyone else remember Cedar Alley?
    1966-*STEWART, JIMMY G.   Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company B, 2d Battalion, 12th Cavalry, 1st Cavalry Division (Airmobile). Place and date: Republic of Vietnam, 18 May 1966. Entered service at: Ashland, Ky. Born: 25 December 1942, West Columbia, W. Va. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Early in the morning a reinforced North Vietnamese company attacked Company B, which was manning a defensive perimeter in Vietnam. The surprise onslaught wounded 5 members of a 6-man squad caught in the direct path of the enemy's thrust. S/Sgt. Stewart became a lone defender of vital terrain--virtually 1 man against a hostile platoon. Refusing to take advantage of a lull in the firing which would have permitted him to withdraw, S/Sgt. Stewart elected to hold his ground to protect his fallen comrades and prevent an enemy penetration of the company perimeter. As the full force of the platoon-sized man attack struck his lone position, he fought like a man possessed; emptying magazine after magazine at the determined, on-charging enemy. The enemy drove almost to his position and hurled grenades, but S/Sgt. Stewart decimated them by retrieving and throwing the grenades back. Exhausting his ammunition, he crawled under intense fire to his wounded team members and collected ammunition that they were unable to use. Far past the normal point of exhaustion, he held his position for 4 harrowing hours and through 3 assaults, annihilating the enemy as they approached and before they could get a foothold. As a result of his defense, the company position held until the arrival of a reinforcing platoon which counterattacked the enemy, now occupying foxholes to the left of S/Sgt. Stewart's position. After the counterattack, his body was found in a shallow enemy hole where he had advanced in order to add his fire to that of the counterattacking platoon. Eight enemy dead were found around his immediate position, with evidence that 15 others had been dragged away. The wounded whom he gave his life to protect, were recovered and evacuated. S/Sgt. Stewart's indomitable courage, in the face of overwhelming odds, stands as a tribute to himself and an inspiration to all men of his unit. His actions were in the highest traditions of the U.S. Army and the Armed Forces of his country.
    1967-GRANDSTAFF, BRUCE ALAN  Medal of Honor
Rank and organization: Platoon Sergeant, U.S. Army, Company B, 1st Battalion, 8th Infantry. Place and date: Pleiku Province, Republic of Vietnam, 18 May 1967. Entered service at: Spokane, Wash. Born: 2 June 1934, Spokane, Wash. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. P/Sgt. Grandstaff distinguished himself while leading the Weapons Platoon, Company B, on a reconnaissance mission near the Cambodian border. His platoon was advancing through intermittent enemy contact when it was struck by heavy small arms and automatic weapons fire from 3 sides. As he established a defensive perimeter, P/Sgt. Grandstaff noted that several of his men had been struck down. He raced 30 meters through the intense fire to aid them but could only save 1. Denied freedom to maneuver his unit by the intensity of the enemy onslaught, he adjusted artillery to within 45 meters of his position. When helicopter gunships arrived, he crawled outside the defensive position to mark the location with smoke grenades. Realizing his first marker was probably ineffective, he crawled to another location and threw his last smoke grenade but the smoke did not penetrate the jungle foliage. Seriously wounded in the leg during this effort he returned to his radio and, refusing medical aid, adjusted the artillery even closer as the enemy advanced on his position. Recognizing the need for additional firepower, he again braved the enemy fusillade, crawled to the edge of his position and fired several magazines of tracer ammunition through the jungle canopy. He succeeded in designating the location to the gunships but this action again drew the enemy fire and he was wounded in the other leg. Now enduring intense pain and bleeding profusely, he crawled to within 10 meters of an enemy machine gun which had caused many casualties among his men. He destroyed the position with hand grenades but received additional wounds. Rallying his remaining men to withstand the enemy assaults, he realized his position was being overrun and asked for artillery directly on his location. He fought until mortally wounded by an enemy rocket. Although every man in the platoon was a casualty, survivors attest to the indomitable spirit and exceptional courage of this outstanding combat leader who inspired his men to fight courageously against overwhelming odds and cost the enemy heavy casualties. P/Sgt. Grandstaff's selfless gallantry, above and beyond the call of duty, is in the highest traditions of the U.S. Army and reflect great credit upon himself and the Armed Forces of his country.
    1968 - A tornado outbreak occurred across Illinois, Missouri, Indiana, Ohio, Iowa, and Arkansas. Charles City, Iowa was devastated by a tornado rated f5 on the Fujita Scale with 13 people killed and 30 million dollars damage done. An f4 tornado tracked through Jackson, Craighead, and Mississippi Counties in Arkansas, killing 35 people and injuring 361. 164 homes in Jonesboro were destroyed.
    1968-Electric Flag played the Late Show at the famed San Francisco Carousel Ballroom (To listen) http://concerts.wolfgangsvault.com/dt/electric-flag-concert/49934-2140.html
    1969- Apollo 10 began their orbit to circle the moon ten times.
    1969 -- The Klamath tribe wins $4.1 million for loss of Oregon lands during fraudulent government surveys in 1880s.
    1969-Birthday of 1969, pop singer Martika, whose real name is Marta Marrera. Her "Toy Soldiers" was a number-one record in 1989.
    1969 - No. 1 Billboard Pop Hit: "Get Back," The Beatles.
    1970---Top Hits
American Woman/No Sugar Tonight - The Guess Who
Vehicle - The Ides of March
Cecilia - Simon & Garfunkel
My Love - Sonny James
    1974 - "The Streak" started a 3-week run at number one on the "Billboard" pop music chart. The novelty tune by Ray Stevens was about people running nekkid where they shouldn’t be nekkid, like, in public. It was the second number one hit for the comedian who made numerous appearances on Andy Williams’ TV show in the late 1960s, as well as his own show in the summer of 1970. His first number one hit, just prior to "The Streak", was "Everything is Beautiful". Both songs won gold records, as did his comedic "Gitarzan", a top ten hit in 1969. Stevens has been the top novelty recording artist of the past three decades.
    1974--Ray Stevens had the whole country saying "Don't look Ethel", the hook line from his second straight Billboard chart topper, "The Streak".
    1978---Top Hits
If I Can’t Have You - Yvonne Elliman
The Closer I Get to You - Roberta Flack with Donny Hathaway
With a Little Luck - Wings
It’s All Wrong, But It’s All Right - Dolly Parton
    1978- The Buddy Holly Story, a film starring Gary Busey as Holly, has its world premiere in Dallas. The movie will be a critical and commercial success.
    1980 - 9,677-foot Mt. St. Helens, quiet for 93 years, blew its top. The volcanic blast was five hundred times more powerful than the atomic bomb that leveled Hiroshima. Steam and ash erupted more than eleven miles into the sky and darkened skies in a 160-mile radius. Forest fires erupted around the volcano and burned out of control. The eruption, and those that followed, left some sixty dead and caused damage amounting to nearly three billion dollars.
http://vulcan.wr.usgs.gov/Imgs/Gif/Pictograms/may18_sequence.gif
    1982 Unification Church founder Reverend Sun Myung Moon convicted of tax evasion.
    1983--- Dr. Sally Ride, 32-year-old with a Ph.D. in physics and pilot's license becomes the first U.S. woman astronaut in space as a mission specialist aboard space shuttle Challenger, 20 years and two days after the first Russian woman went into space. It would be another 15 years before an American woman became a co-pilot of a U.S. space vessel. It took until 1995 - 32 years later - for American Lt. Col. Eileen Collins to touch the controls of an American spacecraft as co-pilot on a space mission. In 1998, she was named a space mission pilot and is scheduled to lift off her spacecraft in late 1999.
    1985-- Patricia Kimbrell, the first woman admitted to the ranks of the United States Jaycees, was installed as president of the Dallas chapter of that civic organization.
    1985--The Scottish Rock band Simple Minds make their breakthrough in North America when "Don't You (Forget About Me") tops the Billboard singles chart. The song was written specifically for the film The Breakfast Club and was only the second tune recorded by the group that they did not write.
    1986--A remake of "Stagecoach," starring Johnny Cash, Willie Nelson, Kris Kristofferson, Waylon Jennings and John Schneider aired on network television. The production apparently was far from smooth, with Nelson walking off the set at one point. The stars all criticised the movie in a "TV Guide" article, with one aide to Cash describing it as being filmed with "a Concorde cast and a cropduster crew."
    1986---Top Hits
Greatest Love of All - Whitney Houston
Why Can’t This Be Love - Van Halen
What Have You Done for Me Lateley - Janet Jackson
Ain’t Misbehavin’ - Hank Williams, Jr.
    1987 - Thunderstorms in Kansas, developing along a cold front, spawned tornadoes at Emporia and Toledo, produced wind gusts to 65 mph at Fort Scott, and produced golf ball size hail in the Kansas City area. Unseasonably hot weather prevailed ahead of the cold front. Pomona NJ reported a record high of 93 degrees, and Altus, OK, hit 100 degrees.
    1988- A's Dave Stewart breaks a major league record committing his twelfth balk of the season.
    1990 - Thunderstorms produced severe weather in the central U.S. spawning sixteen tornadoes, including a dozen in Nebraska. Thunderstorms also produced hail four inches in diameter at Perryton TX, wind gusts to 84 mph at Ellis KS, and high winds which caused nearly two million dollars damage at Sutherland NE. Thunderstorms deluged Sioux City IA with up to eight inches of rain, resulting in a record flood crest on Perry Creek and at least 4.5 million dollars damage.
    1991-Gertrude Belle Ellon, co-recipient of the 1988 Nobel Prize in Medicine, became the first woman inducted as a member of the National Inventors Hall of Fame. Elion’s researched to the development of leukemia-fighting drugs and immunosuppressant Imuran, which is used in kidney transplants.
    1994-- Michael Jackson and Lisa Marie Presley were married in a private ceremony at a judge's home in the Dominican Republic. First word of the marriage came two months later from the judge himself in an interview published in a Dominican newspaper. The Jackson camp denied the story for several weeks. The marriage came after Jackson reached an out-of-court settlement with a teenager who accused the singer of seducing him. Jackson denied the allegations. Presley filed for divorce in January 1996.
    1995- Severe thunderstorms spawned 86 tornadoes over the Mississippi and Ohio Valleys, resulting in 4 deaths and 161 injuries. 5 of the tornadoes were rated f4 on the fujita scale.
    1997-- Tiger Woods wins Byron Nelson Golf Classic
    1998 - The CBS season finale of TV sitcom Murphy Brown aired, with the title character, played by Emmy-winner Candice Bergen, giving birth to an illegitimate son. Vice President Dan Quayle publicly lambasted the comedy, saying that the program "glorified" single-parenthood, and that it made a mockery of families with fathers. He went on to comment that "Murphy Brown" lacked the judgment to be a proper role model for young women, and that her actions were immoral. Despite the national unpopularity of his criticisms, Quayle did not back down from his stand against the popular show, providing fodder for many stand-up comics.
http://www.eonline.com/News/Items/0,1,3019,00.html
    1999 - The Backstreet Boys release their highly anticipated third album, "Millennium." The album goes on to become the best-selling album of the year.
    2000- Mark McGwire passes Mickey Mantle into eighth place on the all-time home run career list with 539. 'Big Mac' goes deep three times as the Cardinals beat the Phillies, 7-2.
    2004--- At the age of 40, southpaw Randy Johnson becomes the oldest pitcher to ever throw a perfect game as the Diamondbacks beat the Braves, 2-0. The ‘Big Unit’ joins Cy Young, Jim Bunning, Hideo Nomo and Nolan Ryan as the only hurlers to throw no-hitters in both leagues and creates the longest time span between no-no’s having first accomplishing the feat against the Tigers in June of 1990.

Stanley Cup Champions This Date

    1971---Montreal Canadiens


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Look at that Girl
by Barry S. Marks, Esq.

 

I need to go
on a diet
and lose twenty years.

from Possible Crocodiles
Poems by Barry Marks
www.BrickRoadPoetryPress

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SuDoku

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

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Daily Puzzle

How to play:
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Refresh for current date:
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Weather

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Traffic Live---

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Independent, unbiased and fair news about the Leasing Industry.