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Federal Legislation Introduced for Uniform
Commercial Fianance and Leasing Disclosure Laws
By Ken Greene, Esq., Leasing News Advisor Emeritus

Numerous articles have been written on the commercial finance disclosure bills introduced in 15 states (as of this writing), some of which have become law. All of the laws are different, some just a bit, and some dramatically. How sensible if the feds were to enact a uniform disclosure law, similar to the Uniform Commercial Code or the Bankruptcy Code, so that folks in the commercial finance space would not have to bob and weave through the patchwork of myriad laws and regulations, and adjust their operational protocols accordingly, at no small expenditure of time and money. Doing business in 50 states is difficult enough; the present wave of new laws is making it even harder.

Many of us have voiced that opinion and it appears our voices have been heard. Back on November 18, 2021, New York Representative Nydia Velázquez introduced H.R. 6054, denominated the “Small Business Lending Disclosure Act”. Here is a copy of the bill:
https://www.congress.gov/bill/117th-congress/house-bill/6054/text

As I understand it, the purpose of the bill was to address the exact same concerns enumerated above, namely, to foster uniformity. At least, that is the stated purpose.

Here are the highlights of the bill:

WHAT IS IMPACTED:

Transactions to small business concerns, defined generally as those with less than $750,000 in annual receipts, in accordance with 15 U.S.C. §632 (“Small Business Act”);
Transactions of $2,500,000 or less;
Closed-end commercial credit transactions (the definition of which, strangely, included non-UCC compliant leases), factoring, open-end commercial credit plans, lease financing transactions, sales-based financing (merchant cash advances); and
Small business financing to the same extent as this title applies to extensions of credit to a consumer.

WHAT IS NOT IMPACTED:

Obligations or alleged obligations of an individual primarily used for personal, family or household purposes.

NECESSARY DISCLOSURES:

Financing Amount;
APR (differs depending upon the financial product);
Payment Amount;
Term;
Finance Charge, including a breakdown of fees and expenses;
Prepayment Costs or Savings;
Collateral Requirements; and
Nothing else as part of the disclosure.

TIMING AND FORMAT:

Must be made in writing at the time of extending a specific offer to a small business (a defined term);
Must be in a manner that is clear, conspicuous, and allows the business to compare the range of financing options; and
Disclosures must be prominent.

THE GOOD NEWS:

The good news is the introduction of the very idea of uniformity. If this bill passes, after it is properly amended, it will make life easier for all lenders and brokersAlso, happily, the formatting and content requirements are not as mind-numbing as some of the state requirements (California and New York will not be named).

THE BAD NEWS:

No apparent exemptions for depository institutions let alone their subsidiaries.
No apparent exemptions for true leases.
No apparent exemptions for motor vehicle dealers.
No apparent exemptions for purchase money security interests.
No apparent exemptions for 5 transactions of less.

THE QUESTIONS:

Whether transactions to companies (i.e. small “mom and pop” stores) for personal, family, or household purposes are exempt)
With so few exemptions, and such a large lobbying sector invested in these laws, how can this one pass without substantial modifications?

This law, although well intentioned, is far from perfect, and could raise more problems than it solves. Perhaps that is why it has failed to move forward since November of 2021.

With a little bit of luck, someone in Congress will initiate the process of retooling this statute to include the hard-fought exemptions achieved for many of the state disclosure laws, and bring some welcome relief to the equipment finance industry.

Ken Greene
Law Office of Kenneth Charles Greene
5743 Corsa Avenue Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
Alternate: kengreenelaw@outlook.com
www.kengreenelaw.com

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ELFA Members Convene for Capital Connection Today
Hosted Annually by the Equipment Leasing & Finance Assoc.

More than 140 ELFA members will meet with approximately 160 Senate and House offices. In addition to advocating for the equipment leasing and finance industry on tax and financial services matters, attendees will hear from keynote speakers on a range of hot topics.

This event is designed to educate members of Congress and select Administration officials about the $1 trillion equipment finance industry’s role as a major source of capital and investment in the United States, and to positively influence federal policymakers who set the legislative and regulatory framework for the industry.

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New Hires/Promotions in the Leasing Business
and Related Industries

Sean A. Habermas was promoted to Vice President, Sales at CSI Leasing, Inc., Oakland, New Jersey. He is located in Plainfield, New Jersey. He joined the company December, 2011, Associate Account Executive, promoted January, 2014, Account Executive, promoted February, 2020, Vice President, Sales Manager. Full Bio:
https://www.linkedin.com/in/sean-a-habermas-b2913a27/details/experience/
https://www.linkedin.com/in/sean-a-haberma

Brian Hutchinson was hired as Vice President of Sales "to spearhead expansion into the construction and industrial equipment segment in Canada," First Financial Equipment Leasing, greater Houston, Texas. He is located in Canada. Previously, he was at DLL for 19 years.
Full Bio:
https://www.linkedin.com/in/brianhutch/details/experience/
https://www.linkedin.com/in/brianhutch/

Dennis McDermott was hired as Vice President, Flagstar Public Funding Corp., Hicksville, New York. He is located in Atlanta, Georgia. Previously, he was Vice President, Signature Public Funding Corp. (April, 2021 - May, 2013); Director/Originations, SunTrust Equipment Finance & Leasing Corp (2006 - December, 2020); Managing Director, Ashford Capital Corporation (2000 - 2005);
Vice President, Koch Industries (1995 - 2000).
https://www.linkedin.com/in/dennis-mcdermott-4b479a9/

Cassie Monroe was promoted to ISO Manager at Knightsbridge Funding, New York, New York. She is located in Brooklyn, New York. She joined the firm April, 2022 as Underwriter. Previously, she was Regional Manager, Aventus B, Director of Business Development, HMF Capital Group. Full Bio:
https://www.linkedin.com/in/cassie-monroe-b61384126/details/experience/
https://www.linkedin.com/in/cassie-monroe-b61384126/

Tracey Rogers was hired as Director, Capital Markets, Mitsubishi HC Capital America, Chicago, Illinois. She is located in Littleton, Colorado. Previously, she was Vice President, Capital Markets, Lending Club Bank, NA (April, 2017 - January, 2023); Vice President, Business Development, Western Region, BBVA Compass Financial Corporation (May, 2014 - February, 2017). Full Bio:
https://www.linkedin.com/in/tracey-rogers-9a670140/details/experience/
https://www.linkedin.com/in/tracey-rogers-9a670140

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Leasing and Finance Industry Help Wanted
Highly Trained Operation Staff/Work from Home
Excellent Compensation/Marketing Support

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Committed to Success
Sales Makes it Happen by Scott Wheeler, CLFP

I recently spoke with a twenty-year veteran who is a top producer in the commercial equipment finance and leasing industry. His comments are worth sharing:

The industry is once again experiencing change and transition. As an originator, he is aggressively embracing change and using change to flaunt his ability to be focused on the future rather than the past.
The first quarter of 2023 was strong. However, there are definite signs of slowness in the economy and more specifically, the demand for equipment. He is committed to working harder than in the recent past and grabbing more than his fair share of opportunities. He has already found himself planning his days with more prospecting, starting earlier, and working longer each day. He believes that the current environment requires him and all originators to work harder and smarter than in the recent past.
Credit has rightfully tightened across the board, and he is once again providing advisory services to his vendors and end-users. He enthusiastically accepts the responsibility to educate his vendors and end-users and to focus on the current reality.
Cash is King and he is using his ability to be creative and flexible with product structures to provide real cash flow solutions for his clients.

Our conversation reminded me once again that there is always the opportunity to succeed in the commercial equipment finance and leasing industry when originators are committed to success.

***
Wheeler Business Consulting is working closely with management teams to reaffirm their strategic statements; and to train their sales and operational teams for success in 2023 and beyond. Developing an internal team aligned with a client's strategy increases short-term outcomes and profitability while improving a client's long-term market value.

Wheeler Business Consulting works with banks, independents, captives, origination companies, and investors in the equipment leasing and finance arena. We provide training, strategic planning, and acquisition services. Scott Wheeler is available to discuss your long-term strategy, to assist your staff to maximize outcomes, and to better position your organization in the market.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

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This Day in History

1607 - Captain Christopher Newport and 105 followers founded the colony of Jamestown on the mouth of the James River in Virginia. They had left England with 144 members, 39 of whom died enroute. The colony was near the large Indian village of Werowocomoco, home of Pocahontas, the daughter of Powhatan, an Algonquin chief. In 2003, archeologists believed that they had found the site of the village.
    1624 - After years of unprofitable operation, Virginia's charter was revoked and it became a royal colony. Chartered in 1606 and settled in 1607, Virginia was the first enduring English colony in North America, following failed proprietary attempts at settlement on Newfoundland by Sir Humphrey Gilbert in 1583, and the subsequent further south Roanoke Island (modern eastern North Carolina) by Sir Walter Raleigh in the late 1580s. The founder of the new colony was the Virginia Company with the first two settlements in Jamestown on the north bank of the James River and Popham Colony on the Kennebec River in modern-day Maine, both in 1607. The Popham colony quickly failed due to a famine, disease, and conflict with local Native American tribes in the first two years. Jamestown occupied land belonging to the Powhatan Confederacy and was also at the brink of failure before the arrival of a new group of settlers and supplies by ship in 1610. Tobacco became Virginia's first profitable export, the production of which had a significant impact on the society and settlement patterns. In 1624, the Virginia Company's charter was revoked by King James I and the Virginia colony was transferred to royal authority as a crown colony. After the English Civil War in the 1640s and 50s, the Virginia colony was nicknamed "The Old Dominion" by King Charles II for its perceived loyalty to the English monarchy during the era of the Protectorate and Commonwealth of England.
    1626 – Peter Minuit and Dutch colonists acquired Manhattan from unnamed Native American people, believed to have been Canarsee Indians of the Lenape, in exchange for trade goods worth 60 guilders, often said to be worth US$24.
    1738 – The conversion of John Wesley is deemed to have launched the Methodist movement; the day is celebrated annually by Methodists and Aldersgate Day and a church service is generally held on the preceding Sunday.
    1749 - Birthday of James Peale (d. 1831), Chestertown, MD. American portrait and miniature painter who painted portraits of George and Martha Washington and General Sir Thomas Shirley.
http://www.npg.si.edu/exh/gw/
http://www.butlerart.com/pc_book/pages/attribut.htm
    1764 - Bostonian lawyer James Otis denounced "taxation without representation" and called for the colonies to unite in demonstrating their opposition to Britain's new tax measures.
    1816 - Emanuel Leutze (d. 1868), obscure itinerant painter, was born at Wurttemberg, Germany. He came to the US when he was nine years old and began painting by age 15. He painted some of the most famous of American scenes, such as “Washington Crossing the Delaware,” “Washington Rallying the Troops at Monmouth” and “Columbus Before the Queen.” Painting all by his imagination. “Washington did indeed cross the Delaware, but not in the dramatic and elegant style depicted in Emanuel Leutze's famous painting,” as stated in Richard Shenkman's “Legends, Lies & Cherished Myths of American History.” “Washington probably wasn't standing, or course, that would have been, as one writer plainly put it, “stupid.” And Washington probably wasn't quite as impassive as Leutze portrays him (One is reminded of all those pictures which show Washington quietly atop his horse with bullets whirring speedily around him. As one critic commented, “at times, his horse seems more active than the general himself.” Furthermore, the American flag probably wasn't flying. While the flag was in existence at this time, it hadn't been yet adopted by Congress and there were many versions. Finally, Washington's boat probably wasn't filled to capacity. There wouldn't have been any need for crowding. Boats there were aplenty; it was men who were in short supply.” Historian Ann Hawks Hutton contends that Leutze, a German, painted the picture primarily to stir up Germans. Leutze, she says, hoped that by celebrating the American Revolution, he could help bring about revolution in Germany, where he painted the picture. He had returned to Germany where he painted many of these pictures where the conservative governments had recently crushed the Revolution of 1848.
http://www.art-prints-and-posters.com/Emanuel-Leutze.html
http://www.nmaa.si.edu/nmaa/images/text/artist_l/leute01x.html
http://www.honors.uiuc.edu/eng255/gallery/romanticism/leutze.html
    1818 - The Battle of Pensacola, considered part of the First Seminole War, took place when American forces, led by Andrew Jackson, captured Pensacola, then the capital of Spanish West Florida. Jackson felt it was being used by the Seminole for strikes against America. After the surrender by the Spanish Governor, Jackson established a temporary American provisional government in the city.
    1830 – “Mary Had a Little Lamb” by Sarah Josepha Hale was first published.
    1844 - The first US telegraph line was formally opened between Baltimore, Maryland and Washington, D.C. Samuel F.B. Morse sent the first officially telegraphed words "What hath God wrought?" from the Capitol Building to Baltimore where his assistant Alfred Vail received the message. Earlier messages had been sent along the historic line during testing and one sent May 1 contained the news that Henry Clay had been nominated as president by the Whig party, from a meeting in Baltimore. The message reached Washington one hour prior to a train carrying the same news.
http://memory.loc.gov/ammem/today/may24.html
    1861 - The first fatalities of both the North and South in the Civil War occurred in Alexandria, VA. Union troops occupied Alexandria, landing troops at the base of King Street on the Potomac River. A few blocks up King Street from their landing site, a commander, Colonel Elmer Ellsworth, sortied with a small detachment to retrieve a large Confederate flag displayed on the roof of the Marshall House Inn that had been visible from the White House. While descending from the roof, Ellsworth was shot dead by Captain James W. Jackson, the hotel's proprietor. One of Ellsworth's soldiers immediately killed Jackson. Ellsworth was publicized as a Union martyr and the incident generated great excitement in the North, with many children being named for him. Jackson's death defending his home caused a similar, though less lasting sensation, in the South. Alexandria remained under military occupation until the end of the war.
    1862 - The Union Army made use of the new communication device called the telegraphy. The first use was in the Peninsula campaign when a wire several miles long extended from the headquarters of General George Brinton McClellan near Williamsport, VA, to an advance guard at Mechanicsville, VA, commanded by General George Stoneman, chief of cavalry in the Army of the Potomac. McClellan was an idiot, had no idea what he was doing, and the telegraph seemed to confuse the cavalry even more. They were used to moving quickly, responding to events, but laying down wire and waiting for instructions due to the reliance on this telegraph invention cost many Union lives. The cavalry once mobile, waited to hear orders from McClellan, who was out to lunch.
http://www.bufordsboys.com/StonemanBiography.htm
http://www.ngeorgia.com/history/atlcamp.html
    1869 - The first exploration of the Grand Canyon of the Colorado River by a white man was made by Major John Wesley Power, above the head of the Colorado River, emerging on August 29 with five of the nine men who had started with him. The Grand Canyon had been observed by Spanish explorers in 1540 and described by the Sitgreaves expedition in 1851.
    1879 – H. B. Reese (d. 1956), the creator of Reese’s Peanut Butter Cups, was born in York County, PA.
    1883 - Nearly 14 years in construction, the $16 million Brooklyn Bridge over the East River opened. Designed by John A. Roebling, the steel suspension bridge has a span of 1,595 feet.
http://www.endex.com/gf/buildings/bbridge/bbridgefacts.htm
    1893 - The Anti-Saloon League was founded by Howard H. Russell at Oberlin, OH. Efforts in that state were so successful that the Anti-Saloon League of America was organized in 1895. The League's permanent home became Otterbein College at Westerville, OH in 1909. The ban on alcohol products, called the Prohibition Era, actually worked. There were less deaths by alcohol recorded at hospitals, less drunk drivers, and statistics recorded a major decline in drinking. The crime empires of Al Capone and others in this era were established before prohibition. Incidentally, there were many country clubs and night clubs who had a large legal supply, as the law was against production and did not apply to what was already purchased and stored.
    1894 - Six inches of snow blanketed Kentucky. Just four days earlier as much as ten inches of snow had fallen across Kentucky, Tennessee and Virginia. Six days earlier a violent storm had wrecked nine ships on Lake Michigan.
    1918 - The Croix de Guerre was awarded to an African-American in the American Army, Private Henry Johnson, 369th Infantry, 93rd Division, with the following citation: “Being on double sentry duty at night, was attacked by twelve Germans. He shot one and seriously wounded two others with his bayonet. Even though he had been three times sounded at the beginning of the action by revolver bullets and grenades, he went to the assistance of his wounded comrade, who was about to be carried off by the enemy, and continued the combat until the put the Germans to flight. It was a splendid example of courage and energy.”
    1928 - In a game between the Philadelphia Athletics and the New York Yankees, 13 future members of the Baseball Hall of Fame took the field. Ty Cobb, Tris Speaker, Mickey Cochrane, Al Simmons, Eddie Collins, Lefty Grove and Jimmie Foxx played for the Athletics. Earle Combs, Leo Durocher, Babe Ruth, Lou Gehrig, Tony Lazzeri and Waite Hoyt played for the Yankees. In addition, the two managers, Connie Mack and Miller Huggins, are also Hall of Famers.
    1930 - Babe Ruth homers in both games of a doubleheader, giving him 9 in one week.
    1933 - Jimmie Rodgers, knowing he only has a few days left to live, records 12 of the 24 songs for his last album. "Tea for Texass, Tea for Thelma, Tea for Ice-Tea, gonna be the death of me..."— Jimmie Rodgers (1897 - 1933)
http://www.jimmierodgers.com/
http://www.southernmusic.net/jimmierodgers.htm
http://www.eyeneer.com/America/Genre/Folk.bluegrass/Profiles/Rodgers/
    1933 - Michael White (d. 2016) birthday, Houston, TX. Jazz violinist, often played with John Handy, my late father's favorite modern jazz group, whom he met when they were both teaching at San Francisco State College.
    1935 - The Cincinnati Reds defeated the Philadelphia Phillies by a score of 2-1, as more than 20,000 fans enjoyed the first night baseball game in the Major Leagues. The game was played at Crosley Field, Cincinnati, OH. By the way, the game was to have been previously held the night before, but rain cancelled the event.
    1938 - Birthday of singer Prince Buster, born Cecil Bustamente Campbell (d. 2016), Kingston, Jamaica.
http://www.georgwa.demon.co.uk/prince_buster.htm
    1940 – Igor Sikorsky performed the first successful single-rotor helicopter flight.
    1941 - The German battleship Bismarck sank the British dreadnought HMS Hood in the North Atlantic. 1416 died with only three survivors. CGC Modoc sighted the German battleship SMS Bismarck while the cutter searched for survivors of a convoy southeast of Cape Farewell, Greenland. British Swordfish torpedo planes from the Royal Navy aircraft carrier HMS Victorious circled Modoc as they flew towards the German battleship's position. The Modoc's crew then spotted the flashes caused by anti-aircraft fire from the Bismarck and then sighted British warships on the opposite horizon. The cutter then maneuvered to avoid contact with any of the warships and managed to steam out of the area unscathed.
    1941 – Birthday of Bob Dylan, born Robert Allen Zimmerman, Duluth, MN. Grammy Award-winning singer, songwriter: “Gotta Serve Somebody” [1980]; “Like a Rolling Stone,” “Lay Lady Lay,” “Positively 4th Street,” “Rainy Day Women #12 & 35,” “Hurricane [Part 1];” actor: “Pat Garrett & Billy The Kid,” “Renaldo and Clara” [w/Joan Baez]; inducted into Rock and Roll Hall of Fame [1988]; received Grammy's Lifetime Achievement Award [1991]; 1991 Golden Globe and Academy Award for song "Things Have Changed" from 2000 film "Wonder Boys."
http://www.bobdylan.com
    1943 – Radar was born. Actor Gary Burghoff, who played Cpl. Radar O’Reilly in the long-running hit TV series, “M*A*S*H*,” was born in Bristol, CT.
    1944 - Patti LaBelle was born Patricia Holt in Philadelphia. She sings with Patti LaBelle & the Blue Belles (later shortened to LaBelle), which had the No. 1 hit "Lady Marmalade." The singer's solo career takes off in the 1980s and she has a No. 1 duet, "On My Own," in 1986 with Michael MacDonald.
    1944 - Top Hits
“Long Ago and Far Away” - Helen Forrest & Dick Haymes
“San Fernando Valley” - Bing Crosby
“I'll Get By” - The Harry James Orchestra (vocal: Dick Haymes)
“Straighten Up and Fly Right” - King Cole Trio
    1944 - ANTOLAK, SYLVESTER, Medal of Honor
Rank and organization: Sergeant, U.S. Army, Company B, 15th Infantry, 3d Infantry Division. Place and date: Near Cisterna di Littoria, Italy, 24 May 1944. Entered service at: St. Clairsville, Ohio. Birth: St. Clairsville, Ohio. G.O. No.: 89, 19 October 1945. Citation: Near Cisterna di Littoria, Italy, he charged 200 yards over flat, coverless terrain to destroy an enemy machinegun nest during the second day of the offensive which broke through the German cordon of steel around the Anzio beachhead. Fully 30 yards in advance of his squad, he ran into withering enemy machinegun, machine-pistol and rifle fire. Three times he was struck by bullets and knocked to the ground, but each time he struggled to his feet to continue his relentless advance. With one shoulder deeply gashed and his right arm shattered, he continued to rush directly into the enemy fire concentration with his submachine gun wedged under his uninjured arm until within 15 yards of the enemy strong point, where he opened fire at deadly close range, killing 2 Germans and forcing the remaining 10 to surrender. He reorganized his men and, refusing to seek medical attention so badly needed, chose to lead the way toward another strong point 100 yards distant. Utterly disregarding the hail of bullets concentrated upon him, he had stormed ahead nearly three-fourths of the space between strong points when he was instantly killed by hostile enemy fire. Inspired by his example, his squad went on to overwhelm the enemy troops. By his supreme sacrifice, superb fighting courage, and heroic devotion to the attack, Sgt. Antolak was directly responsible for eliminating 20 Germans, capturing an enemy machinegun, and clearing the path for his company to advance.
    1944 - MILLS, JAMES H., Medal of Honor
Rank and organization: Private, U.S. Army, Company F, 15th Infantry, 3d Infantry Division. Place and date: Near Cisterna di Littoria, Italy, 24 May 1944. Entered service at: Fort Meade, Fla. Birth: Fort Meade, Fla. G.O. No.: 87, 14 November 1944. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty. Pvt. Mills, undergoing his baptism of fire, preceded his platoon down a draw to reach a position from which an attack could be launched against a heavily fortified strongpoint. After advancing about 300 yards, Pvt. Mills was fired on by a machinegun only S yards distant. He killed the gunner with 1 shot and forced the surrender of the assistant gunner. Continuing his advance, he saw a German soldier in a camouflaged position behind a large bush pulling the pin of a potato-masher grenade. Covering the German with his rifle, Pvt. Mills forced him to drop the grenade and captured him. When another enemy soldier attempted to throw a hand grenade into the draw, Pvt. Mills killed him with 1 shot. Brought under fire by a machinegun, 2 machine pistols, and 3 rifles at a range of only 50 feet, he charged headlong into the furious chain of automatic fire shooting his M 1 from the hip. The enemy was completely demoralized by Pvt. Mills' daring charge, and when he reached a point within 10 feet of their position, all 6 surrendered. As he neared the end of the draw, Pvt. Mills was brought under fire by a machine gunner 20 yards distant. Despite the fact that he had absolutely no cover, Pvt. Mills killed the gunner with 1 shot. Two enemy soldiers near the machine gunner fired wildly at Pvt. Mills and then fled. Pvt. Mills fired twice, killing 1 of the enemy. Continuing on to the position, he captured a fourth soldier. When it became apparent that an assault on the strongpoint would in all probability cause heavy casualties on the platoon, Pvt. Mills volunteered to cover the advance down a shallow ditch to a point within 50 yards of the objective. Standing on the bank in full view of the enemy less than 100 yards away, he shouted and fired his rifle directly into the position. His ruse worked exactly as planned. The enemy centered his fire on Pvt. Mills. Tracers passed within inches of his body, rifle and machine pistol bullets ricocheted off the rocks at his feet. Yet he stood there firing until his rifle was empty. Intent on covering the movement of his platoon, Pvt. Mills jumped into the draw, reloaded his weapon, climbed out again, and continued to lay down a base of fire. Repeating this action 4 times, he enabled his platoon to reach the designated spot undiscovered, from which position it assaulted and overwhelmed the enemy, capturing 22 Germans and taking the objective without casualties.
    1944 - SCHAUER, HENRY, Medal of Honor
Rank and organization: Private First Class, U.S. Army, 3d Infantry Division. Place and date: Near Cisterna di Littoria, Italy, 23-24 May 1944. Entered service at: Scobey, Mont. Born: 9 October 1918, Clinton, Okla. G.O. No.: 83, 27 October 1944. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty. On 23 May 1944, at 12 noon, Pfc. (now T/Sgt.) Schauer left the cover of a ditch to engage 4 German snipers who opened fire on the patrol from its rear. Standing erect he walked deliberately 30 yards toward the enemy, stopped amid the fire from 4 rifles centered on him, and with 4 bursts from his BAR, each at a different range, killed all of the snipers. Catching sight of a fifth sniper waiting for the patrol behind a house chimney, Pfc. Schauer brought him down with another burst. Shortly after, when a heavy enemy artillery concentration and 2 machineguns temporarily halted the patrol, Pfc. Schauer again left cover to engage the enemy weapons single-handed. While shells exploded within 15 yards, showering dirt over him, and strings of grazing German tracer bullets whipped past him at chest level, Pfc. Schauer knelt, killed the 2 gunners of the machinegun only 60 yards from him with a single burst from his BAR, and crumpled 2 other enemy soldiers who ran to man the gun. Inserting a fresh magazine in his BAR, Pfc. Schauer shifted his body to fire at the other weapon 500 yards distant and emptied his weapon into the enemy crew, killing all 4 Germans. Next morning, when shells from a German Mark VI tank and a machinegun only 100 yards distant again forced the patrol to seek cover, Pfc. Schauer crawled toward the enemy machinegun. stood upright only 80 yards from the weapon as its bullets cut the surrounding ground, and 4 tank shells fired directly at him burst within 20 yards. Raising his BAR to his shoulder, Pfc. Schauer killed the 4 members of the German machinegun crew with 1 burst of fire.
    1945 - Food-O-Mat was installed in the Grand Union Company store in Carlstadt, NJ. It was invented by Lansing Peter Shield. The patented merchandise display fixture operated on a gravity-fee, rear-load principle. Stockmen working behind the unit placed cans, jars, and packages on inclined runways with the labels upright. The items reached the shopper with the brand name uppermost. As the customer picked out an item, another slid in place by gravity.
    1950 - ‘Sweetwater' (Nat) Clifton's contract was purchased by the New York Knicks. Sweetwater played for the Harlem Globetrotters. He was the first African-American player in the NBA.
    1952 - Top Hits
“Kiss of Fire” - Georgia Gibbs
“Blue Tango” - The Leroy Anderson Orchestra
“Be Anything” - Eddy Howard
“The Wild Side of Life” - Hank Thompson
    1953 - A previously unknown actor, Rod Steiger, starred in "Marty" on the "Goodyear Playhouse." Paddy Chayefsky wrote the original TV play and then adapted it for the Oscar-winning film
http://us.imdb.com/Bio?Steiger,+Rod
    1955 - Rosanne Cash is born, Memphis. Daughter of Johnny Cash and Vivian Liberto. Among her numerous No. 1 country singles are "My Baby Thinks He's a Train" and "Blue Moon with Heartache."
    1960 - Top Hits
“Cathy's Clown” - The Everly Brothers
“Good Timin'” - Jimmy Jones
“Cradle of Love” - Johnny Preston
“Please Help Me, I'm Falling” - Hank Locklin
    1961 – Freedom Riders were arrested in Jackson, MI for "disturbing the peace" after disembarking from their bus.
    1962 - Aurora 7 Mercury Space Capsule. With this launch Scott Carpenter became the second American to orbit Earth, circling it three times.
    1964 - The Beatles' 3rd appearance on Ed Sullivan
    1964 - No. 1 Billboard Pop Hit: "Love Me Do," The Beatles.
    1965 – Supreme Court declared unconstitutional a federal law allowing the post office to intercept communist propaganda.
    1966 - Leontyne Price, world renowned opera singer, opens Metropolitan Opera Season
http://www.afrovoices.com/price.html
http://www.triadntr.net/~rdavis/price.htm
http://www1.opera.it/English/Cantanti/Price.html
    1968 - Top Hits
“Tighten Up” - Archie Bell & The Drells
“Mrs. Robinson” - Simon & Garfunkel
“A Beautiful Morning” - The Rascals
“I Wanna Live” - Glen Campbell
    1968 - Charlie Musselwhite and Dan Hicks & his Hot Licks appear at the Straight Theatre in San Francisco.
    1969 - Still riding high on the success of "American Woman," The Guess Who made their US Television debut on American Bandstand.
    1969 - Oliver entered the US charts with "Good Morning Starshine," which would reach #3 by July and go on to sell over a million copies. His real name was William Oliver Swofford.
    1969 - The Beatles hit number one with "Get Back." The song was at the top for over five weeks. The song featured an organ solo by Billy Preston, who became the only non-group member ever credited on a Beatles single.
http://www.milkandcookies.com/link/49633/detail/
http://web.ukonline.co.uk/rickenbacker/beatleg/Let%20It%20be%20Disaster.htm
http://website.lineone.net/~johnpaulgeorgeringo/book6.htm
    1969 - Haight-Ashbury Festival in the Golden Gate Park Panhandle, San Francisco.
    1969 - BONDSTEEL, JAMES LEROY, Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company A, 2d Battalion, 2d Infantry, 1st Infantry Division. Place and date: An Loc Province, Republic of Vietnam, 24 May 1969. Entered service at: Detroit, Mich. Born: 18 July 1947, Jackson, Mich. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. S/Sgt. Bondsteel distinguished himself while serving as a platoon sergeant with Company A, near the village of Lang Sau. Company A was directed to assist a friendly unit which was endangered by intense fire from a North Vietnamese Battalion located in a heavily fortified base camp. S/Sgt. Bondsteel quickly organized the men of his platoon into effective combat teams and spearheaded the attack by destroying 4 enemy occupied bunkers. He then raced some 200 meters under heavy enemy fire to reach an adjoining platoon which had begun to falter. After rallying this unit and assisting their wounded, S/Sgt. Bondsteel returned to his own sector with critically needed munitions. Without pausing he moved to the forefront and destroyed 4 enemy occupied bunkers and a machine gun which had threatened his advancing platoon. Although painfully wounded by an enemy grenade, S/Sgt. Bondsteel refused medical attention and continued his assault by neutralizing 2 more enemy bunkers nearby. While searching one of these emplacements S/Sgt. Bondsteel narrowly escaped death when an enemy soldier detonated a grenade at close range. Shortly thereafter, he ran to the aid of a severely wounded officer and struck down an enemy soldier who was threatening the officer's life. S/Sgt. Bondsteel then continued to rally his men and led them through the entrenched enemy until his company was relieved. His exemplary leadership and great personal courage throughout the 4-hour battle ensured the success of his own and nearby units, and resulted in the saving of numerous lives of his fellow soldiers. By individual acts of bravery he destroyed 10 enemy bunkers and accounted for a large toll of the enemy, including 2 key enemy commanders. His extraordinary heroism at the risk of his life was in the highest traditions of the military service and reflect great credit on him, his unit, and the U.S. Army.
    1970 - ROCCO, LOUIS R., MEDAL of HONOR
Rank and organization: Warrant Officer (then Sergeant First Class), U.S. Army, Advisory Team 162, U.S. Military Assistance Command. Place and date: Northeast of Katum, Republic of Vietnam, 24 May 1970. Entered service at: Los Angeles, Calif. Born: 19 November 1938, Albuquerque, N. Mex. Citation: WO Rocco distinguished himself when he volunteered to accompany a medical evacuation team on an urgent mission to evacuate 8 critically wounded Army of the Republic of Vietnam personnel. As the helicopter approached the landing zone, it became the target for intense enemy automatic weapons fire. Disregarding his own safety, WO Rocco identified and placed accurate suppressive fire on the enemy positions as the aircraft descended toward the landing zone. Sustaining major damage from the enemy fire, the aircraft was forced to crash land, causing WO Rocco to sustain a fractured wrist and hip and a severely bruised back. Ignoring his injuries, he extracted the survivors from the burning wreckage, sustaining burns to his own body. Despite intense enemy fire, WO Rocco carried each unconscious man across approximately 20 meters of exposed terrain to the Army of the Republic of Vietnam perimeter. On each trip, his severely burned hands and broken wrist caused excruciating pain, but the lives of the unconscious crash survivors were more important than his personal discomfort, and he continued his rescue efforts. Once inside the friendly position, WO Rocco helped administer first aid to his wounded comrades until his wounds and burns caused him to collapse and lose consciousness. His bravery under fire and intense devotion to duty were directly responsible for saving 3 of his fellow soldiers from certain death. His unparalleled bravery in the face of enemy fire, his complete disregard for his own pain and injuries, and his performance were far above and beyond the call of duty and were in keeping with the highest traditions of self-sacrifice and courage of the military service.
    1970 - New Musical Express reports the Beatles' "Let it Be" has set a new record for initial U.S. sales, with 3.7 million advance orders. The album goes gold within days of its release.
    1972 - The method of determining won-lost percentage changed in the NFL. Tie games, previously not counted in the standings, were made equal to a half-game won and a half-game lost.
    1974 – The last “Dean Martin Show” (1965-74) was broadcast. It lasted nine years with little or no rehearsal time with its star, who ironically said he was looking forward to not working so hard and going back to Las Vegas, the town that he loved. He returned to television, hosting “Dean Martin’s Celebrity Roasts” (1974-84).
http://www.deanmartin.net/index/rightframe/09tva/09tva.html
http://www.robertsenslerpresents.com/
    1975 - For the second show in a row, the Beach Boys, on tour with Chicago, literally have the place jumping. The second level at the Oakland Coliseum is noticeable shaking in footage taken by a local news crew; the concert the day before at Anaheim Stadium caused the mezzanine to vibrate as much as eighteen inches.
    1975 - No. 1 Billboard Pop Hit: "Shining Star," Earth, Wind & Fire.
    1976 – The Judgement of Paris launched California as a worldwide force in the production of quality wine. A wine competition organized in Paris by Steven Spurrier, a British wine merchant, involved French judges in two blind tasting comparisons: one of top-quality Chardonnays and another of red wines (Bordeaux wines from France and cabernet Sauvignon from California). A Californian wine rated best in each category, which caused surprise as France was generally regarded as being the foremost producer of the world's best wines. Spurrier sold only French wine and believed that the California wines would not win.
    1976 - Top Hits
“Silly Love Songs” - Wings
“Love Hangover” - Diana Ross
“Fooled Around and Fell in Love” - Elvin Bishop
“After All the Good is Gone” - Conway Twitty
    1981 - Bobby Unser finished first in the Indianapolis 500, but after the race was over, the stewards penalized him one lap for passing cars illegally under the yellow caution flag. The penalty vaulted Mario Andretti into first place, but Unser and Roger Penske, owner of Unser's car, appealed the stewards' decision to the United States Auto Club. Four months later, USAC ruled that Unser was guilty but that the punishment was too severe. The lap penalty was replaced by a $40,000 fine, and Unser recovered the championship.
    1982 - A benefit concert for the Vietnam Veterans Project is held in San Francisco's Moscone Center, where the Jefferson Starship, Grateful Dead, Boz Scaggs, and Country Joe McDonald appear. They raise about $175,000.
    1984 - Top Hits
“Hello” - Lionel Richie
“Let's Hear It for the Boy” - Deniece Williams
“Time After Time” - Cyndi Lauper
“To All the Girls I've Loved Before” - Julio Iglesias & Willie Nelson
    1984 - No. 1 Billboard Pop Hit: "Let's Hear It for the Boy," Deniece Williams. The song is featured in the film "Footloose." Williams is a member of Stevie Wonder's backup group, Wonderlove, from 1972-75.
    1986 – The Montreal Canadiens defeated the Calgary Flames, 4-3, to win the Stanley Cup, four games to one. For the Canadiens, it was their 23rd title, putting them one major-league championship ahead of the New York Yankees and their 22 World Series titles. Montreal won another Stanley Cup in 1993 and the Yankees now have 27 World Championships.
    1986 - Whitney Houston's "Greatest Love of All” climbed to the top and stayed there for three weeks.
http://www.whitney-houston.com/
    1988 - Thunderstorms produced severe weather in the southeastern U.S. Thunderstorm winds gusted to 88 mph at Columbia, NC. Baseball size hail was reported near Tifton, GA.
    1989 - Thunderstorms developing ahead of a cold front produced severe weather across the Upper Midwest through the day and night. Thunderstorms spawned 30 tornadoes, and there were 158 reports of large hail and damaging winds. A strong (F-3) tornado caused $5 million damage at Corning, IA, and a powerful (F-4) tornado caused $5 million damage at Traer, IA. Thunderstorm winds gusting to 88 mph killed one person and injured five others at Stephensville, WI.
    1990 - Severe thunderstorms spawned two dozen tornadoes from Montana to Oklahoma. Four tornadoes carved a 109-mile path across central Kansas. The third of the four tornadoes blew 88 cars of a 125-car train off the track, stacking them three to four cars high in some cases, and the fourth tornado caused $3.9 million damage. The third tornado injured six persons who were trying to escape in vehicles. A woman was "sucked out" of a truck and said that at one time she was "airborne, trying to run but my feet wouldn't touch the ground." She also saw a live deer "flying through the air."
    1991 – “Thelma & Louise,” starring Susan Sarandon and Geena Davis, premiered. "Thelma and Louise" made a huge splash when it was released and has since become a part of the pop culture lexicon. In it, a mistreated housewife and harried waitress stumble into an out-of-control - but totally liberating - crime spree. As bold and relevant as ever, it remains a vastly entertaining must-see.   It won Best Writing, Screenplay Written Directly for the Screen by Callie Khouri, and Best Actress in a Leading Role for both Sarandon and Davis
   1994 - Top Hits
“I Swear” - All-4-One
“I'll Remember” (From "With Honors") - Madonna
“The Sign” - Ace Of Base
“The Most Beautiful Girl In The World” -The Artist
    1994 - In a game against Milwaukee, Cal Ripken hits his 300th career home run.
    1994 - Four men convicted of bombing the World Trade Center in NYC in 1993 were each sentenced to 240 years in prison. A truck bomb detonated below the North Tower. The 1,336 pound urea nitrate-hydrogen gas-enhanced device was intended to send the North Tower crashing into the South Tower, bringing both towers down and killing tens of thousands of people. It failed to do so but killed six people and injured over a thousand. The attack was planned by a group of Al Qaeda terrorists who received financing from Khaled Sheikh Mohammed: Abouhalima, Ajaj, Ayyad, and Salameh. The charges included conspiracy, explosive destruction of property, and interstate transportation of explosives. In November 1997, two more were convicted: Ramzi Yousef, the mastermind behind the bombings and KSM’s nephew, and Eyad Ismoil, who drove the truck carrying the bomb.
    1998 - The first Native American Music Awards take place at the Fox Theater at the Foxwoods Resort Casino in Mashantucket, Conn. The show is hosted by Wayne Newton, and presenters include Joe Walsh, Bruce Cockburn, Richie Havens and John Trudell. Lifetime achievement awards go to Robbie Robertson and Frederick Whiteface.
    1998 - In an official ceremony backstage prior to Van Halen's show at the CoreStates Spectrum, Philadelphia mayor Ed Rendell proclaims May 24th Van Halen Day in Philadelphia. Each member of the band is given a personalized replica of the Liberty Bell.
    1999 - Top Hits
“Livin La Vida Loca” - Ricky Martin
“No Scrubs” - TLC
“Kiss Me” - Sixpence None The Richer
“Fortunate” - Maxwell
    2000 - Shawn Estes pitches a seven-hitter and becomes the first Giants pitcher in 51 years (Monte Kennedy-1949) to hit a grand slam en route to handing the Expos their worst defeat in franchise history, 18-0. The San Bernardino native just misses joining Tony Cloninger as the only Major League pitcher to hit two slams in a game.
    2000 - Mark McGwire becomes the fastest player to hit 20 home runs in one season reaching the mark in 35 games, six less than Mickey Mantle (1956) and his own record (1998).
    2000 - Sixteen Dodgers' players and three coaches are suspended by the commissioner's office for going into the stands during the Wrigley Field scuffle with fans on May 16. The suspensions totaling 60 games for players and 24 games for coaches is the harshest penalty ever handed down by Major League baseball.
    2001 - Cincinnati is shut out as Cubs' starter Jon Lieber one-hits the Reds, 3-0. The span of 208 of games without being blanked establishes a new National League record with the 1931-33 Yankees (308) and the 1978-79 Milwaukee Brewers (212) being the only teams with longer streaks.
    2007 - Art Garfunkel joined Paul Simon in a rare reunion in Washington, D.C. which commemorated Simon's receipt of the Library of Congress' first Gershwin Award, recognizing contributions to the popular song as an art form. Simon introduced his former partner by saying "My dear friend and partner in arguments, Art Garfunkel," before they launched into "Bridge Over Troubled Water" and "Cecilia." Also appearing on the show were Stevie Wonder and James Taylor.
    2009 - Billy Joel was sued by his former drummer for hundreds of thousands of dollars in unpaid royalties. Liberty Devitto claimed that Joel hadn't paid him proper royalties for 10 years of his work. Devitto was Joel's drummer from 1975 until 2005, when he said he was abruptly kicked out of the band without so much as a phone call.
    2010 - John Fogerty's 1985 hit "Centerfield" was selected to be honored at the National Baseball Hall of Fame Induction Ceremonies, held on July 25, 2010. The event was the first time a musician or song has been honored in such a way. Along with "Take Me Out to the Ballgame,” it is one of the best-known baseball songs. In addition, Fogarty donated his custom-made, baseball bat-shaped guitar for display in the museum. Lyrics:
Well, a-beat the drum and hold the phone
The sun came out today
We're born again, there's new grass on the field
A-roundin' third and headed for home
It's a brown-eyed handsome man
Anyone can understand the way I feel

Oh, put me in coach, I'm ready to play today
Put me in coach, I'm ready to play today
Look at me, I can be centerfield

Well, I spent some time in the Mudville Nine
Watching it from the bench
You know I took some lumps, when the mighty Case struck out
So Say Hey, Willie, tell Ty Cobb
And Joe DiMaggio
Don't say it ain't so, you know the time is now

Oh, put me in coach, I'm ready to play today
Put me in coach, I'm ready to play today
Look at me, I can be centerfield

Yeah, I got it, I got it

Got a beat-up glove, a home-made bat
And a brand new pair of shoes
You know I think it's time to give this game a ride
Just to hit the ball, and touch 'em all
A moment in the sun
It's a-gone and you can tell that one good-bye

Oh, put me in coach, I'm ready to play today
Put me in coach, I'm ready to play today
Look at me (yeah), I can be centerfield

Oh, put me in coach, I'm ready to play today
Put me in coach, I'm ready to play today
Look at me, gotta be, centerfield
Yeah

    2018 – President Trump posthumously pardoned boxer Jack Johnson for a racially orientated criminal conviction: transporting a white woman across state lines.
    2018 - Record US fentanyl seizure of 120lbs confirmed by police in Nebraska in April, enough to kill 26 million people, one of largest drug busts in US history.

Stanley Cup Champions:
    1980 - New York Islanders
    1986 - Montreal Canadiens
    1990 - Edmonton Oilers

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