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Leasing News is a web site that posts information, news, and
entertainment for the commercial bank, finance and leasing industry

Friday, November 2, 2012

Today's Equipment Leasing Headlines

Martin Shames Passes Away
 Classified Ads---Legal
  NEFA Cancels November 4-5 New Jersey Conference
Hurricane Sandy
 —and responses to Phil Dushey email
  Bob Robichaud, CLP, Retires,
   VP, Equipment Finance Department, Commerce Nat. Bank
    New Hires---Promotions
     Classified Ads---Help Wanted
 Hitachi Capital America Corp. Acquires Hennessey Capital
  Enters Asset-Based Lending and Factoring Businesses
   Secured Creditor's Election—“Over” or “Under Secured”
    By Tom McCurnin, and Frank Peretore and Janis Migliorise Peretore
     Placard---Definition of a Husband
      GreatAmerica Launches Info-Zone Mobile App
   CLP Spotlight—Frank Vitalie, CLP
    Financial Pacific Leasing
  Earnings scorecard for top 25 US banks and thrifts, Q3'12
   By Aarti Kanjani, SNL Financial
    Border Collie Mix
     Atlantic City, New Jersey Adopt-a-Dog
      Argo/Cloud Atlas
       Take This Waltz/Trisha/I Wish
         New Films/DVD Reviews by Fernando Croce
News Briefs---
 Hurricane Sandy Megastorm: How To Help –Updated
  Sandy's destruction from the air--56 photos
   New must-have accessory is a home power generator
    Mortgage rates fall to 3.57%
     Auto sales strong in October
      HP Four Year Lap Top Operating Lease
       to Idaho High School Teachers/Students
        Subway Opens 38,000th Location
         Crit DeMent's remarks at ELFA Annual Convention
          India presents enormous opportunities for aircraft lessors
         Sterling in Santa Rosa to pursue small SBA loans
        Starbucks grows stores, sales
       D.C. to commercial property owners:
        Shut your doors in the summer or face fines

Broker/Funder/Industry Lists | Features (collecti)
Top Ten Stories Chosen by Readers | Top Stories last six months

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
     Baseball Poem
      California Nuts Brief---
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           Daily Puzzle
               Weather, USA or specific area
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Martin Shames Passes Away

From Bruce Kropschot:

“I am sorry to report the death of Martin Shames. Marty was a personal friend and one of the finest gentlemen I have encountered in the equipment leasing industry. He was the CFO of AAMCO Industries which acquired my company, Master Lease Corporation, in 1981. He then took on the additional role of CFO of Master Lease, and he was a valued executive in our organization. Two years after I formed Kropschot Financial Services in 1986, Marty joined the company as Executive Vice President, and he was instrumental in our completion of many M&A transactions.

“Marty semi-retired about 10 years ago, but he was still available whenever I needed additional help on a project. He will be deeply missed by all who had an association with him. His funeral service is November 2nd in Philadelphia.

“Attached is the obituary that was delayed until today because of the power outages in the Philadelphia area due to the hurricane. Barbara and I, along with another Kropschot Financial Services executive, Jim Billings, will be attending the funeral.”

Bruce Kropschot, Senior Managing Director and
Merger & Acquisition Advisory Practice Leader
The Alta Group

MARTIN SHAMES, age 77, of Chalfont, PA and Hollywood, FL, passed away on October 27, 2012. He will be dearly missed by Joan (nee Goldsmith) his wife of 52 years, his sons Jonathan (Virginia) of Great Falls, VA and Adam of Chicago, IL; his daughter Elisabeth (Lawrence) Grossman of Dresher, PA; his grandchildren Alyssa, Zachary, Samantha, Abigail and Noah; his brother Jerry (Ann) Shames. Marty grew up in the Bronx, attended Bronx High School of Science, got an MBA from NYU, proudly served as a Marine, and was a successful Financial Executive with companies in Chicago, Philadelphia and Florida. Marty loved his family, Judaism, and was a very active member of the Jewish Genealogical Society of Broward County. He was loved and respected by all. Relatives and friends are invited to Services, Friday 12 Noon, JOSEPH LEVINE AND SONS MEMORIAL CHAPEL, 4737 Street Road, Trevose, PA 19053. Interment King David Memorial Park. The family will be returning to the residence of Elisabeth and Lawrence Grossman, Friday thru Sunday.
- Philadelphia Inquirer & Philadelphia Daily News



Classified Ads---Legal

(These ads are “free” to those seeking employment or looking
to improve their position)

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**** Announcement ***************************************

NEFA Cancels November 4-5 New Jersey Conference

Raleigh, NC –The National Equipment Finance Association’s 2012 Expo Super Regional Meeting, scheduled for Sunday evening, November 4th, and Monday, November 5th, in Teaneck, New Jersey, has been cancelled due to the recent storm damage in Northern New Jersey and the Greater New York City area.

NEFA, the National Equipment Finance Association, has notified all registrants and makes this announcement for people who are having difficulty receiving email and or phone messages.

Gerry Egan, Exec. Dir., NEFA

“The safety and convenience of our members and attendees are our primary concerns” said Gerry Egan, Executive Director. “After monitoring conditions for the last few days and being in contact with local authorities, it wasn’t clear that we would be able to assure either our local area attendees or our attendees who would be traveling from out of town of safe and easy access to the event. Many of our members in the affected area are coping with damaged homes or offices and, as of today, are still without power.”

The Expo is one of the longest running networking, educational and exposition events in our industry, dating back into the earliest days of the former Eastern Association of Equipment Lessors, one of the organizations that merged to form today’s NEFA. The Expo draws exhibitors, presenters and attendees from around the US and Canada in addition the Northeast Region of the US.

About National Equipment Finance Association
The National Equipment Finance Association (NEFA) is a national association serving small to mid-sized independent equipment finance companies, lessors and brokers. NEFA is a strong association offering enhanced educational programs and premium networking opportunities with broad geographic and industry segment diversity. The mission of NEFA is to provide a forum for members to pursue personal and professional growth and promote ethical business practices through advocacy, networking and industry involvement. For more information, visit: or call: 847-380-5050.




Hurricane Sandy
—and responses to Phil Dushey eMail

“Here is a garage downtown NY in the West Village, on 12th Street, by the Hudson River. One of the cars is my son's good friend. Luckily my son knew to park on the street and not in his garage during the storm.”

Steve Geller, CLP
Leasing Solutions LLC
755 Route 340, Palisades, New York 10964


From Russ Wilder:

“It’s a mess there for sure. A rep for Dynamar, a service I use on our big ticket leasing side, lives on Long Island on the LI Sound side. She’s got no power of course, but otherwise OK. But her parents live in Babylon, on the Atlantic side of LI and they got 5 feet of water running through their first floor, washing all of her dad’s hunting and fishing gear and tools, etc. away. My younger daughter’s partner’s parents live in that same town and they came through unscathed though and even have power, which about 90% of Long Island does not. My best friend’s sister lives on Roosevelt Island in NYC as she works at the nearby UN. Half that island was underwater as of yesterday and water came to within 30 yards of her building. She had no power but she is up several floors so is ok and cooking with Sterno or on her BBQ on her balcony or eating her supply of canned goods of which she has a stockpile of probably 2-4 weeks’ worth, along with bottled water. She says there’s quite a flotilla of “interesting” things floating down the East River. My best friend (was Best Man at my wedding) runs facilities for the State Dept. in several Mid-Atlantic and NE states. I emailed him Monday, have not had any type of reply. His office is at Foggy Bottom there in DC so I am assuming he is absolutely buried in problems at their various facilities, particularly in NYC area.”

Russell H. Wilder, CLP
Executive Vice President, Chief Credit Officer
ATEL Credit Group
San Francisco

From Steve Dinkelaker:

“Thanks, Kit, for the update on East Coast (especially NJ & NY) damage from Sandy. As we are further north in western MA along the CT river, our area generally and our company offices did not suffer any significant power outages or flooding damage from Sandy.

“Best wishes for your continuing success,”

Steve Dinkelaker, President
American Lease Insurance Agency Corporation
d/b/a Lease Insurance International
654 Amherst Rd.
Sunderland, MA 01375

Don Myerson is back to his office in Kauai, Hawaii---asked:

“Aren't you glad you are in Kauai?”

His response:

“Yes I am! Last week another Tsunami warning and evacuation but like the last 3 it proved to be a nonevent. The poor folks on the East Coast got the real thing.

“Beautiful day here as the East Coast starts the cleanup. I am counting my blessings!”

Don Myerson
(303) 376-4662


From Rosanne Wilson, CLP:

“My heart goes out to you, Phil. Watching the TV coverage of the destruction makes me cry. So much loss and so much pain. I am so relieved that you are okay Phil. I can see that New Jersey was the hardest hit. You're right about kissing your kids and your family. All of you are more important than the loss of property and income. I have seen how resilient Americans are with the amazing stories that have come out of this tragedy. The human spirit cannot be snuffed out and the rebuilding has already begun. If there is anything I or the leasing community can do for you to help, please let me know. You are in my thoughts & prayers.

“I'm sending you a big hug –“



“Our prayers are with Phil Dushey & family during this horrible event.”

55 W. 22nd. Street
Suite 140
Lombard, IL. 60148


"Our friends and family on the east coast are in my prayers…"

Rick Gatelli


From Phil Dushey

“I did not see it in the Leasing News but I must have received 20 emails from people showing support. It’s really nice to belong to our financial community , it goes a long way to getting through this tragedy.

“Getting back power either in Lower New York or Jersey is still at least a week away.”

Regards Phil


East Coast Leasing Company Update
Wednesday, early afternoon, NY time



Bob Robichaud, CLP, Retires

VP, Equipment Finance Department, Commerce National Bank
Anaheim, California

“I wanted to tell you that today (October 31) is my last official day at Commerce National Bank…. I have retired!”

“That doesn’t mean I’ll be totally inactive, as I will still be consulting for the bank from time to time for a while--- and I leave knowing that it’s now in CLP Steve Reid’s capable hands.”

Bob has been a guardian of the industry, contributing articles, information, covering events, and giving alerts in hopes of protecting both lessee and lessor. We will miss him.

Leasing News asked Bob for a biography:

“Here’s my timeline resume and some additional info that. I appreciate the sendoff!

“I was born in Hartford, Connecticut, a long, long time ago!!!

“Graduated from Buckley High School in 1963 and served in the United States Coast Guard from 1963-1967.

“I moved to California in 1967 and married my wife Janet in 1968 (will be 45 years, next February).

“I have nearly 43 years of industry experience in equipment financing and leasing, as follows:

  • Westinghouse Credit Corporation 1970-1980, both as a Credit Analyst, Sales Manager and Branch Manager

  • ITT Industrial Credit Corporation 1980-1985, Regional Branch Manager

  • Bank of America Commercial Finance 1985-1986, Vice President and Manager

  • Tri-Cal Financial (My own company) 1986-1987, President

  • Saddleback Financial 1987-2001, Regional Sales Manager

  • PFF Bank & Trust 2001-2008, Vice President

  • Commerce National Bank 2008-2012, Vice President Leasing Relations


  • Graduated: Fullerton College 1975 AA Business Administration

  • Attended: California State University Fullerton, Major, Business Finance

“I earned my CLP in 2005.

“Active in National Equipment Finance Association (formerly United Association of Equipment Leasing) and National Association of Equipment Leasing Brokers and served on various committees and as a presenter at several conferences.

“I do intend to consult for a while with Commerce National Bank from time to time and also to continue to do some mentoring, so I’ll still be around for a while. Although I will certainly miss the daily interaction with my peers, I will enjoy more family time.

“ I also know there is a 10 lb. bass out there waiting for me somewhere…and I’m ready to tackle my ever rising golf handicap.”

Bob Robichaud, CLP
Vice President, Equipment Finance Department
Commerce National Bank
3818 E. Coronado Street, Suite 100
Anaheim, CA 92807
(Tel.) 714-678-5302
(Cell) 714-290-8112



New Hires---Promotions

Terese Rowe named as senior vice president and head of Wells Fargo Agribusiness Group of Oregon; based in Eugene. "She Rowe brings more than 15 years of lending experience to Wells Fargo. Most recently, she led corporate credit at Rabobank Chile, where she managed credit risk of an agribusiness portfolio that included fruit, salmon farming, wine, poultry and forest products." University of Illinois at Urbana-Champaign, MS, Agricultural Economics (1995 – 1998) Western Washington University, BA, Economics (1985 – 1988).

Mr. Terry Winders available as a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry.

He is the author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.


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




Leasing News Help Wanted Classified Ad
(Appears on top of News Headlines
in a rotation basis with other Help Wanted as)

Please see our Job Wanted section for possible new employees.



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

Hitachi Capital America Corp. Acquires Hennessey Capital
Enters Asset-Based Lending and Factoring Businesses

Hitachi Capital America Corp. has acquired the assets and operations of Michigan-based Hennessey Capital LLC, which will operate as a division of Hitachi Capital America to further improve its capability of providing asset-based lending and factoring to businesses nationwide.

William H. Besgen, President
Hitachi Capital America

“The addition of the Hennessey Capital team and infrastructure to our company is a perfect strategic fit, highlighted by a successful business relationship over the past year,” said William H. Besgen, President of Hitachi Capital America. “Their factoring and asset-based lending products complement financing options we currently provide to Hitachi companies and their customers, enabling us to enhance the value we offer; both now and in the future.”

Since 2002, Hennessey Capital has been providing working capital financing to help companies increase cash flow and enhance profitability.

Michael Semanco, President
Hennessey Capital

“This was an opportunity for us to partner with a company who shares our philosophy of helping grow entrepreneurial companies and providing superior client service,” said Michael Semanco, President of Hennessey Capital. “This partnership will give us access to greater resources as we develop our business model for the future.”

About Hitachi Capital America Corp.
Hitachi Capital America Corp. was incorporated in October 1989 and commenced business operations in April 1990. We are an independent, diversified leasing and financial services company headquartered in Norwalk, CT. We provide financing to Hitachi group companies and the commercial business sector of the United States and are wholly owned by Hitachi Capital Corporation, Tokyo, Japan. Our parent was founded in 1957 as a subsidiary of Hitachi Ltd., and has become one of the leading financial institutions in Japan. Through our sister companies located in the United Kingdom, Singapore, Hong Kong, Thailand, Malaysia, Indonesia and China, Hitachi Capital has established a presence in the global market place to better serve our customers and our Hitachi group of companies worldwide.

About Hennessey Capital LLC
Hennessey Capital provides working capital options for growing business-to-business companies that are post-revenue, in transition, or otherwise do not meet the credit guidelines of traditional bank lending. Products and services include factoring, asset-based lending programs, and collateral management services.

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




Secured Creditor's Election—“Over” or “Under Secured”

By Tom McCurnin, and Frank Peretore and Janis Migliorise Peretore

It’s a Different Kind of Election That May Make it Easier to Collect
the Equipment Lease in Full in Bankruptcy

Bankruptcy Code § 1111(b)

No, we are not talking about that election. But this being election season, we thought it would be a great time to address the secured creditor’s section 1111(b) election under the U.S. Bankruptcy Code. This election is a significant arrow in the secured creditor’s bankruptcy quiver, but it is not well understood and, as a result, is woefully underutilized. We’re going to correct that misunderstanding.

In short, in a secured transaction (non-true lease), where the debtor files a Chapter 11 Petition in Bankruptcy, the secured creditor will be determined by the court (or by the parties’ agreement) to be either over-secured or under-secured. If the secured creditor is over-secured any Chapter 11 Plan of Reorganization must provide for the secured creditor to be paid its full balance, plus all pre-petition and post-petition interest, and even attorneys’ fees. Moreover, if the over-secured creditor is to be paid over time under the Plan, such as the typical 3-5 year payout, the debtor must pay interest on the principal for this period as well.

But if the secured creditor is under-secured (its collateral has a value of less than the full balance owed) the debtor can often “cram-down” the secured creditor in its Plan of Reorganization. Under a cram-down, the Plan only needs to provide for the secured creditor to be paid the value of the collateral, as opposed to the full balance due, and without any pre or post-petition interest. If, however, the debtor chooses to pay the cram-down amount over time, again such as the typical 3-5 year payout, the debtor must pay interest during such time. Once crammed-down, the remaining balance (that portion exceeding the value of the collateral) becomes an unsecured claim, and thus, the secured party ends up wearing two hats, that of a secured creditor to the value of the collateral and that of an unsecured creditor for its deficiency claim. As such the secured creditor may vote for or against the Plan twice, once under each hat.

Section 1111(b) is the under-secured creditor’s only weapon to fight a cram-down. Section 1111(b) is intended to give the under-secured creditor an election with respect to the treatment of its deficiency claim.

This election requires the debtor, in any Chapter 11 Plan of Reorganization, to pay the secured party its full balance owed or surrender the collateral. Under Fed.R. Bankr. P. 3014 the secured creditor may make an 1111(b) election at any time prior to the conclusion of the hearing on the Disclosure Statement (or at such later time as the Court fixes), and same must be made in writing unless put on the record at the Disclosure Statement hearing.

At first blush, this sounds like a no-brainer. Why wouldn’t every secured creditor just exercise its section 1111(b) election and be treated as a fully secured creditor? The answer is that the 1111(b) election does not give you the rights of an over-secured creditor referenced above, namely to your full balance plus all interest. Moreover, as noted more fully below, the 1111(b) election includes the waiver of some rights.

Waiver of Interest

The section 1111(b) election requires the debtor to pay the secured creditor’s full balance, but without any interest whatsoever, pre or post-petition (or attorneys’ fees) or even for the period in which the debtor pays the balance over time, which may be as many as ten years or more. Thus, if the secured creditor’s balance is $200,000 and the collateral value is $180,000, a section 1111(b) election may not be wise: the secured creditor is probably better off getting $180,000 cash on the barrel-head upon confirmation of the Plan or over 3-5 years with interest, than getting $200,000 over 10 years without any interest. But if the balance were $200,000 and the collateral value were $10,000, an 1111(b) election would probably be a great idea, especially if as noted below, the collateral is likely to appreciate in value over time.

Benefit of Appreciation Goes to Creditor. There is another significant benefit to an 1111(b) election. Upon election the secured creditor is deemed to be secured to the full value of its balance, even though the collateral value may be substantially less than the balance due at that time. Thus, in the event the collateral appreciates in value and the Chapter 11 is ultimately unsuccessful or there is a conversion to a Chapter 7 bankruptcy and the secured creditor obtains relief from the automatic stay, the secured creditor’s full lien is still in place on the now appreciated collateral.

Waiver of Unsecured Claim

Of course, there are no free lunches, especially for creditors in bankruptcy court which is often considered a debtor’s forum. Upon election under 1111(b), the secured creditor waives any unsecured claim for the amount due and owing in excess of the value of the collateral. This may be significant where the creditor’s unsecured position is substantial and the secured creditor may be able to defeat approval of the Plan of Reorganization by voting against the Plan or where a substantial dividend is expected to be paid to unsecured creditors. Because the electing secured creditor is to be paid its full balance, it forfeits its right to vote for or against the Plan, as a secured or unsecured creditor and it forfeits its right to share in any unsecured creditor dividend. It also forfeits any unsecured claim in any subsequent Chapter 7 case.

Now that the secured creditor knows everything about an 1111(b) election, let’s give some hypotheticals when the election should occur. So, with apologies to redneck Jeff Foxworthy, “You Know You Ought to Make an 1111(b) Election When”

The secured party is currently under-secured and expects the collateral to appreciate substantially and any unsecured dividend to be small; and

There is a huge disparity between the value of the equipment and the amount owed, and consequently getting the full amount owed is much better than getting only the value of the collateral, even if the payments are stretched out over an extended period of time without interest and again, any unsecured dividend is anticipated to be small; and

The secured party believes the Court has set an artificially low value for its collateral, and it believes there is a substantial likelihood of conversion to Chapter 7 or dismissal of the Chapter 11 case and again, any unsecured dividend is anticipated to be small.

If such a case exists, the secured creditor should elect to be treated under section 1111(b). This might be one election, you’d be looking forward to.

Frank Peretore and Janis Migliorise Peretore are the founding members of the firm Peretore & Peretore, P.C. in Sparta, New Jersey.

Tom McCurnin is a partner at Barton, Klugman & Oetting in Los Angeles, California.







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

GreatAmerica Launches Info-Zone Mobile App

(Cedar Rapids, IA) – GreatAmerica Leasing Corporation launched Info-Zone mobile today, an app that brings front and back-end functionality to the Apple, Android, Windows, and Blackberry mobile platforms. is a portal, available exclusively to GreatAmerica customers, that provides access to their client data. The app is primarily designed to help sales people submit credit applications, calculate a payment, and gain quick access to customer information while in the field.

The app will also allow Dealers to quickly and cost-effectively improve their sales efforts with the mobile technology needed to expand and grow, while helping GreatAmerica channel partners improve transaction efficiency.

David Pohlman, Executive Vice-President
& Chief Operating Officer, GreatAmerica Leasing

“We invested in mobile computing because the majority of our Dealers are increasingly selling from the field and working in demanding, fast-paced situations,” said David Pohlman, GreatAmerica Executive Vice President & Chief Operating Officer. “By placing key account information from the GreatAmerica site at the fingertips of sales people, they can anticipate and respond to virtually all customer concerns on the fly.”

The app is integrated with phone, email, and map functionality for quick access to customer data and GreatAmerica support. Access to the app is available by going to through your smartphone browser. The Info-Zone app will also be available on iTunes and Android Play.

About GreatAmerica Leasing Corporation
GreatAmerica is more than just a national financing company. We are a partner to many office equipment companies, and are dedicated to helping them become more successful. Our commitment to understanding the industry has positioned us as the unparalleled leader in single invoice solutions (MPS, MNS, and other specialized billing options). We also offer innovative non-financial services such as Collabrance™ Managed IT Services, PathShare™ HR Services, Info-Zone®.com, and FleetView™ remote monitoring to help our dealers evolve their businesses.

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




CLP Spotlight—Frank Vitalie, CLP
Financial Pacific Leasing

Please give a short description of your background in the industry.

I started with Financial Pacific Leasing (“Fin Pac”) 13 years ago as a credit officer, after 14 years with Bank of America as a Commercial Loan Officer and International Trade Officer. The same skills I learned making loans were easily applied to the equipment financing industry.

Growing up in New York State (the melting pot) and working in New York City early in my career gave me an appreciation for all kinds of people. I can appreciate the diversity of the people we get to work with. Growing up on Long Island, New York, and working in my father’s business in lower Manhattan gave me an appreciation for the struggles of small businesses. This was my first exposure to a service industry and the equipment needs of small businesses.

I have seen many changes in the equipment finance industry and at “Fin Pac.” We went from a being a small local leasing company to a large national company by constantly innovating and adjusting to the

economic climate. It’s been great being part of a company that’s successful, innovative and cares about its employees.

What is your favorite thing about the industry?

What I love most about the leasing industry is that it’s a people business. I get a lot of satisfaction out of helping people become successful in business. By working with our brokers I get to assist them in helping the end-user get the equipment they need to operate. Together we’re helping people earn a living, create jobs and maintain their lifestyle. My dad owned his own business when I was a kid and so I like the idea of family businesses and helping small businesses grow. Additionally, coming from a banking background with its tight parameters of risk, I find the equipment leasing industry has much more flexibility to accommodate our clients’ needs. We can usually find a way to make a deal work.

What are the biggest challenges in your day?

I would say time management in balancing work and personal life, i.e., diet, exercise and family. What helps is our company gives us some flexibility in our hours and encourages us in many ways to stay in shape, including monetary incentives for exercise and weight loss. The Steven Covey book “The 7 Habits of Highly Effective People” from the 80’s still rings true. Put your big rocks in the pail first, then the gravel, then the sand and then the water. The rocks being the most important things in your different roles: work, relationships, etc. That way you don’t have to sweat the small stuff that you don’t get to and you will have time to be spontaneous, too.

What has helped you in business the most?

I would have to say my father’s example. My father was the president and owner of his own business. He showed me the value of integrity, honesty and strong leadership skills. These qualities I continue to grow in as I study the Bible, which has relevant principles for living today.

If you won 50 million dollars in the lottery, what would you do with it?

First I would help my kids and family with their needs. I would partner with organizations providing the basic needs of life: clean water, food, shelter, clothing and security/protection; first in our country and then in third-world countries. Then I would purchase a new Harley and a Corvette.

Where is the most interesting place you have ever visited or traveled?

Niagara Falls, NY; Mount Rainier, WA; Bryce Canyon, UT. All of these inspire me with their beauty and leave me with a sense of awe of the grandeur of this country in which we are so blessed to be living.

Would you like to share an interesting hobby or accomplishment?

My hobbies include motorcycle riding, carpentry and Italian cooking. But, I have to say eating and cooking foods from different cultures, particularly Italian, is the one I do most. Where I grew up on Long Island, NY, there were small bakeries, pizzerias and restaurants run by families with food so unique that I haven’t been able to get some of these specialties anywhere else. I’m talking bagels, New York pizza and Italian pastry like cannoli. I spend much time researching authentic recipes from the original sources. The interesting thing is I never cooked a day in my life until I moved to Washington State at the age of 31. Now I do most of the cooking in our house.



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to help support the growth of Lease Police)



Earnings scorecard for top 25 US banks and thrifts, Q3'12
By Aarti Kanjani, SNL Financial

Publicly traded U.S. banks and thrifts saw improved earnings and credit quality in the third quarter, based on earnings reports available for about 75% of the companies traded on major exchanges. However, net interest margins have compressed across the industry.

SNL Financial scanned data collected from 346 of about 460 major exchange-traded banks and thrifts, representing institutions that had reported third-quarter earnings as of October 30.

The median EPS growth over the prior quarter was 4.76%, while the median EPS growth over the year-ago quarter was 13.56% for the institutions. (The figures exclude companies that reported negative earnings in any of the periods analyzed.) The outlook for credit quality also has improved along with profits, as loan loss provisions declined. The median loan loss provision decrease compared to the year-ago quarter was 26%. But, net interest margin acted as a spoilsport. The median net interest margin was down 2 basis points quarter over quarter and 11 basis points year over year.

Of the largest 25 banks and thrifts by assets, no company reported a loss for the third quarter, 14 disclosed growth in EPS over the prior quarter, and 19 showed a year-over-year increase. The median EPS growth for the top 25 institutions was 4.61% over the prior quarter and 15.09% over the year-ago quarter. Eleven of the 25 companies reported increased net interest margin over the prior quarter, though only six companies saw a year-over-year improvement.

Capital One Financial Corp. reported the highest quarter-over-quarter EPS growth among the largest 25 banks and thrifts, with EPS of $2.01 reported in the third quarter compared to 16 cents in the linked quarter and $1.77 in the year-ago quarter. The company said in its earnings release that the increase in net revenue was largely due to the full-quarter impact of the HSBC credit card loans acquired in the second quarter and a lower nonprincipal reserve build related to the HSBC acquisition. This also resulted in an increase in net interest margin of 93 basis points to 6.97% in the third quarter from 6.04% in the second quarter, marking the largest quarter-over-quarter jump in net interest margin for the top 25. Chairman and CEO Richard Fairbank said in the news release that the quarter's results also received strong contributions from ING Direct, acquired in February.

SunTrust Banks Inc.'s earnings also grew strongly compared to the other big banks. It reported a third-quarter EPS of $1.98, compared to an EPS of 50 cents and 39 cents for the prior quarter and year-ago quarter, respectively. According to its earnings release, the growth was driven by the termination of agreements regarding shares owned in The Coca-Cola Co. that resulted in a pre-tax securities gain of $1.9 billion. It was offset by a number of one-time charges relating to balance sheet repositioning.

The largest plunge in EPS growth during the quarter was seen by Citigroup Inc., with EPS of 15 cents reported in the third quarter, compared to 95 cents in the linked quarter and $1.23 in the year-ago quarter. Major reasons were credit valuation/debt valuation adjustments of negative $776 million, a $2.9 billion after-tax loss from the sale of a 14% interest in the Morgan Stanley Smith Barney joint venture and an other-than-temporary impairment of the carrying value of Citi's remaining 35% interest in the joint venture.

PNC Financial Services Group Inc. reported the largest quarter-over-quarter drop in net interest margin among the top 25. It reported NIM of 3.86% in the third quarter, compared to 4.10% in the second quarter. According to the earnings release, 16 basis points of the decline was due to lower purchase accounting accretion.

New York Community Bancorp Inc. saw a substantial drop in loan loss provisions for the third quarter compared to the prior quarter, recording the largest drop among the top 25 banks and thrifts. It reported a provision of $12.8 million in the third quarter, compared to $33.4 million in the second quarter and $18.0 million in the third quarter of 2011.

When measuring banks' earnings performance relative to Wall Street estimates, SNL compares the Fact Set operating or adjusted EPS value to the Fact Set mean estimate. The Fact Set EPS value is the core or operating version of the company's reported EPS value, adjusted to align with consensus treatment of nonrecurring or one-time items incurred during the period.

Depending on the period, there may be a significant difference between the Fact Set adjusted EPS value and the company-reported EPS value, due to Fact Set’s exclusion of certain nonrecurring items.


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Beth's Story...

"Beth is a very sweet girl who loves to have all the attention. She is happy with anyone she meets and would do great with children. Beth came to us from another shelter in Georgia. She recently was treated for Heartworm disease and will need follow up care through our facility.

Contact This Shelter...Try on Monday
Shelter: The Humane Society of Atlantic County
Pet ID #: 7276
Contact: Steven Dash
Phone: (609) 347-2487
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Fernando's View
By Fernando F. Croc

A true-story thriller ("Argo") and an audacious epic ("Cloud Atlas") come to theaters, while a woman’s journey (“Take This Waltz”), a gentle Japanese drama ("I Wish"), and an updated version of Thomas Hardy ("Trishna") arrive on DVD.

In Theaters:

Argo (Warner Bros. Pictures): Truth proves to be stranger than fiction in this based-on-a-real-story thriller, which has already been receiving plenty of Oscar buzz. Continuing his stint as a director, Ben Affleck directs this nail-bitingly tense story set during the height of the Iranian Revolution in the late 1970s, when Hollywood literally came to the rescue of diplomats trapped in a nation in upheaval. When protesters storm the U.S. embassy in Tehran, a group of Americans hide in the Canadian embassy. A daring plan is concocted by CIA agent Tony Mendez (Affleck), who uses his connections to the movie industry to pretend to be part of a film crew traveling to the Middle East to shoot a sci-fi epic. Will the life-or-death charade hold up? Made with suspense, humor, and a cast that includes Alan Arkin, Bryan Cranston and John Goodman, this is one of the year's most crowd-pleasing prestige releases.

Cloud Atlas (Warner Bros. Pictures): No matter how you feel about their movies, there's no denying that Andy and Lana Wachowski, the filmmaking siblings behind "The Matrix," aren't afraid of taking bold cinematic leaps. So it goes with this audacious new epic, which tells six different stories separated by time and space yet connected by something deeper and more mysterious. Co-directed with the gifted German filmmaker Tom Tykwer ("Run Lola Run"), the plot is a complicated grid of centuries and countries in which the same actors play different characters, so that such stars as Tom Hanks and Halle Berry play 19th-century ship captains and 1970s private eyes one moment and survivors of a post-apocalyptic world the next. The results may be frustrating to viewers looking for a more conventional story, but adventurous audiences will appreciate the one-of-a-kind, exhilarating quality of the film's vision.

Netflix Tip: A tireless activist for Native American rights as well as an actor, Russell Means (1939-2012) cut quite a noble figure on screen. Check out Netflix for some of his most notable movie appearances, which include Michael Mann's thrilling "The Last of the Mohicans" (1992), Oliver Stone's disturbing "Natural Born Killers" (1995), and Disney's animated tale "Pocahontas" (1995)


Take This Waltz (Magnet): Following up on her acclaimed directorial debut "Away From Her," Sarah Polley serves up another honest and affecting portrait of a couple threatened by outside forces. Her protagonist this time is Margot (Michelle Williams), a Toronto writer in her early thirties who lives happily with her husband Lou (Seth Rogen). Things start to look shaky for them, however, when she returns from a trip and meets their neighbor from across the street (Luke Kirby), a handsome rickshaw driver who seems to intuitively feel that there's something missing in her life. Will Margot opt for the security of a marriage that's no longer exciting, or leap into the unknown landscape of a new affair? Though it doesn't have the polish of her previous film, Polley's drama marvelously captures the main character's unresolved feelings, beautifully embodied in Williams' exceptional performance.

Trishna (MPI): Continuing his run as the most eclectic and unpredictable of working filmmakers, Michael Winterbottom adapts Thomas Hardy's classic novel "Tess of the D'Urbervilles" to the screen as a tragic romance set in modern-day India. Trishna (Freida Pinto, from the Oscar-winning "Slumdog Millionaire") is a poor village girl whose life takes a dramatic turn when she meets Jay (Riz Ahmed), the British son of a rich local businessman. While she works in one of his father's hotels, she falls in love with Jay. It's not long, however, before their backgrounds shifts relationship in an increasingly disturbing direction. Taking full advantage of the striking contrasts of India (even including a brief look at the Bollywood film industry), Winterbottom's movie captures the novel's incisive view of cultures in flux and the hapless lovers caught in them.

I Wish (Magnolia): An expert in magical yet clear-eyed explorations of childhood, Japanese filmmaker Hirozaku Koreeda is in top form with this gentle tale of innocence and awakenings. The plot centers on Koichi (Koki Maeda) and Ryunosuke (Ohshiro Maeda), two brothers in their early teens who, separated by their parents' divorce, bond over naive fantasies involving volcanoes and bullet trains. While the kids dream of putting their old lives back together, the movie meanders to include telling glimpses of other characters like the wannabe-rocker dad and the old folks hoping to open a bakery. With an eye for unstressed visual poetry and bits of quotidian humor, Koreeda crafts a loving mosaic of hope and heartbreak that, modest as it is, will continue to resonate with viewers long after it's over. With subtitles.



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News Briefs----


Hurricane Sandy Megastorm: How To Help –Updated

Sandy's destruction from the air--56 photos

New must-have accessory is a home power generator

Mortgage rates fall to 3.57%

Auto sales strong in October

HP Four Year Lap Top Operating Lease
to Idaho High School Teachers/Students

Subway Opens 38,000th Location

Crit DeMent's remarks at ELFA Annual Convention
(23.5 long--- music opening, 1:25 Sutton Next, 4:36 DeMent talks)

India presents enormous opportunities for aircraft lessors

Sterling in Santa Rosa to pursue small SBA loans

Starbucks grows stores, sales

D.C. to commercial property owners:
Shut your doors in the summer or face fines

Big night for Blake Shelton



You May Have Missed---

Mo. bank president pulls gun on robbery suspect



SparkPeople--Live Healthier and Longer

SparkPeople--Live Healthier and Longer

Comfort food that is good for you




Sports Briefs----

San Diego beats Chiefs




American Football Poem

Often read before a football game:

William Ernest Henley (1875)

Out of the night that covers me,
Black as a Pit from pole to pole,
I thank whatever gods may be
For my unconquerable soul.

In the fell clutch of circumstance
I have not winced nor cried aloud,
Under the bludgeoning of chance
My head is bloody, but unbowed.

Beyond this place of wrath and tears
Looms but the horror of the shade,
And yet the menace of the years
Finds, and shall find me, unafraid.

It matters not how straight the gate
How charged with punishments the scroll,
I am the master of my fate:
I am the Captain of my soul.


California Nuts Briefs---

Costs at ailing Calif. nuke plant top $300 million

Beloved Guerneville bookstore shutters


“Gimme that Wine”

Napa Valley mostly finished with 2012 harvest

CANADA: Ageing population to boost wine over other categories

UC Davis gets record $750 Million for research

A Grape Adds Distinction to Its Workhorse Status


Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History


    1734- birthday of Daniel Boone (Boon,) American frontiersman, explorer and militia officer, born at Berks County, near Reading, PA. He is credited with the exploration and growth of Kentucky, working for the Pennsylvania Company.
February 1778, he was captured at Blue Licks, KY, by Shawnee Indians, under Chief Blackfish, who adopted Boone when he was inducted into the tribe as “Big Turtle.” Boone escaped after five months, and in 1781 was captured briefly by the British. Depsite Walt Disney’s version, he had no legal title to the lands he explored and he retired to Missouri. He experienced a series of personal and financial disasters during his life, but continued a rugged existence, hunting until his 80s. Boone died at St. Charles County, MO, Sept 26, 1820. The bodies of Daniel Boone and his wife, Rebecca, were moved to Frankfort, KY, in 1845.
What made him popular in history was his autiobiography: “ The Adventures of Colonel Daniel Boon ( that’s the way he spelled his name,) formerly a hunter, containing a narrative of the Wars of Kentucky.”
    1776-William Demont (or Dement) ,Traitor to the American cause during the Revolutionary War, who enabled the British general Sir William Howe to conquer the fort with a force of 8,900 men on November 16, 1776. They captured 2,818 American officers and men, 43 guns, and 2,800 muskets. A member of the 5th Pennsylvania Battalion, who was appointed adjutant in Colo­nel Robert Magraw’s battalion on February 29, 1776. He deserted on November 2, 1776, and notified the British of the position of Fort Washington (now a neighborhood in New York City).
    1783 - Gen. George Washington issued his "Farewell Address to the Army" near Princeton, N.J. By this time some 100,000 Loyalists had fled the U.S. Also known as Tories, they had suffered various penalties for their loyalty to the Crown, including confiscation of property, removal from public office, and punitive taxation. Probably no more than 10% of the colonials were Tories, who were generally well-to-do, engaged in commerce or the professions, or public officials. Many fled to Canada, some to England. Some returned after the war. Many, however,
had remained behind. After the conflict many were able to recover at least some of their confiscated property. Many of those who had fought along side with the British were granted land in Canada.
    1795- Birthday of James Knox Polk, the 11th president of the US was born at Mecklenburg County, NC. His term of office: Mar 4, 1845—Mar 3,1849. A compromise candidate at the 1844 Democratic Party convention, Polk was awarded the nomination on the ninth ballot. He declined to be a candidate for a second term and declared himself to be “exceedingly relieved” at the completion of his presidency. He died shortly thereafter at Nashville, TN, June 15,1849.
    1810 -a 7 inch snowfall in New York City permitted very early sleighing in the city streets.
    1820 - The Revenue cutter Louisiana captured five pirate vessels during a cruise from Florida to Cuba.
    1824-The first popular vote in a presidential election took place when 356,038 votes were cast for four candidates. This was also the first election in which the final decision was made by the House of Representatives because none of the candidates won a majority of electoral votes. Although Andrew Jackson received a greater share of both the popular and the electoral vote that the runner-up, John Quincy Adams, a deal was struck to give Adams the electoral votes of Henry Clay, another candidate. Adams thereby acquired enough votes to be declared the winner.
    1846-Donner Party crossing the Sierra stopped for the evening and were trapped by a snowstorm. Many of the party survived by eating the flesh of the dead. 40 of the 87 people in the Donner party died. They remained snowbound until February.
    1852 - Franklin Pierce was elected US president over Gen’l. Winfield Scott, who ran as a Whig. In 1852, the U.S. Congress passed a resolution giving Scott the pay and rank of a lieutenant general. Scott was the first to hold this rank since George Washington. 
    1861–November 2- Captain Nathaniel Gordon becomes became the only person in U.S. history to be executed for slave-trading. He was also considered a pirate.
    1861 - Controversial Union General John C. Fremont is relieved of command in the Western Department and replaced by David Hunter. Fremont’s actions in Missouri fueled secessionist spirit and alienated many Northerners who were unwilling to wage a war to end slavery. Lincoln requested privately that Fremont rescind the order, but he refused. Lincoln had no choice but to negate the order of emancipation and remove Fremont from command in the west. Fremont still had many supporters, so Lincoln placed him in charge of a small army in Virginia. Some Republican allies urged Fremont to challenge Lincoln for the 1864 presidential nomination, but Fremont declined. After the war, he served as territorial governor of Arizona and died in New York in 1890. 
    1862-Mary Todd Lincoln corresponded with her husband advising him of popular sentiment against cautious General in Chief of the Federal Army George B. McClellan. Contrary to popular belief, Mary Todd was a close confident and love of Lincoln’s life. He was to let McClellan go in favor of U.S. Grant, which also led to McClellan
running as the Democratic opponent against him for president.
( lower half: )
    1865- Birthday of Warren Gamaliel Harding. Twenty-ninth president of the US was born at Corsica, OH. His term of office: Mar 4, 1 921—Aug 2,1923 (died in office). His undistinguished administration was tainted by the Teapot Dome scandal, and his sudden death while on a western speaking tour (San Francisco, CA, Aug 2,1923) prompted many rumors. He was a well-known womanizer of his time, and it was right after women were given the right to vote, and the saying
in Washington, DC, “ We gave the women the right to vote and they picked handsome Warren G. He was said to bring women into the White House, on trips, and died of heart attack that his wife was treating him for exhaustion with an electronic device they purchased in San Francisco.
    1880 - James A. Garfield was elected 20th president. During the Civil War, Garfield was a commander at the bloody fight at Chickamauga. The election was close, with Republican James Garfield getting 48.27% to Democrat Winfield Hancock‘s 48.25% and a difference of less than 2,000 vote. Garfield was shot by a disgruntled office seeker four months into his presidency. 
    1889- North Dakota and South Dakota were admitted into the Union, the 39th and 40th states, the first time that two states simultaneously became a part of the United States. President Benjamin Harrison had a problem with admitting the two states on the same day. Which one would be first? He decided it was easier to mix up the admissions papers so no one would know and just list the states alphabetically. That’s why North Dakota is the 39th and South Dakota is the 40th of the United States of America. The Dakotas took their name from the Sioux Indian word for ’ally’, although the settlers and the Sioux weren’t always allies (Battle of Wounded Knee). Those searching for a route to the Pacific Ocean settled in South Dakota, Ft. Pierre being the first permanent white settlement. Pierre remains the capital of South Dakota. Bismarck is the capital of North Dakota. Both states are still essentially rural and agricultural. The western meadowlark and the ring-necked pheasant, the North and South Dakota state birds, respectively, still fly over the vast meadowlands. North Dakota’s flower is the wild prairie rose, while the pasque flower holds that title in South Dakota. North Dakota, home of several major air bases and intercontinental ballistic missile sites, is known as the Peace Garden State, while its more southern counterpart is called the Coyote State.
    1902- San Francisco’s China Town was amazed to see an 18-year-old petite girl give a rousing oration against the foot binding of women, their arranged marriages and forced illiteracy. Sien King King became a member of the Chinese bachelor society and continued her battle for feminism. She believed the repressive actions against women prevented the Chinese from advancing in the U.S. (and the world).
    1908-Trumpet player Bunny Berigan birthday
    1911-birthday of Johnny Richards in Schenectady, NY, jazz composer-arranger.
    1920 - Warren G. Harding was elected 29th president. He defeated James Cox.The electoral vote was Hardin, 404; James M. Cox, Democratic candidate, 127. The popular vote was Harding, 16,152,200; Cox, 9,147,353 The election campaign was primarily a referendum on the Wilson presidency and the League of Nations. Cox supported it fully, while Harding did not make his position clear. Harding supported prohibition and Cox opposed it. Cox ran a vigorous campaign, while Harding ran a mostly a front porch campaign. Cox's efforts and that of his hard campaigning Vice Presidential candidate had little effect. Ultimately, the weariness of the nation determined the election in favor of Harding, who obtained an overwhelming victory. the Republicans increased thier majorities in both houses, leasing 59-37 in the Senate and 301-131, with one minor party seat and two vacancies, in the House.
    1923-birthday of 1923. William Robert (Billy) Haughton, standard bred dri­ver and trainer born at Gloversville, NY. Haughton won nearly 4,900 races in his career. Along with Stanley Dancer, he dominated the New York trotting scene in the 1 950s and then moved on to a national career. He suf­fered severe head injuries in a three-horse accident at Yonkers Raceway and died at Valhalla, NY, July 15, 1986.
    1926-The first Senate election in which neither candidate was seated after a recount was the election in Pennsylvania. William Bauchop Wilson, a Democrat, was narrowly defeated by William Scott Vare, a Republican who presented his credentials as senator-elect fro the term beginning March 4, 1927. The Senate, on December 6, 1929, decided by a vote of 58-22 that Vare was not entitled to the seat due to charges of corruption and fraud concerning his election Governor John Stuchell Fisher, appointed Joseph Ridway Grunday, a Republican, to the vacant seat. Grundy served from December 11,1929 to December 1, 1930. He was unsuccessful for the nomination of this office after being
accused of contributing $400,000 to the former incumbent Senator Pepper, who had been defeated by Vare.
    1931-- birthday of alto saxophonist Phil Woods.
    1936-the Basie Band splits for Kansas City for points East and Worldwide fame. "Goin' to Chicago, Sorry I Can't Take You." Little Jimmy Rushing.
    1942---Birthday of Shere Hite, author and researcher. Her best known work, The Hite Report, one of the pioneer works on the realities of women's sexuality.
    1942--WILKINS, RAYMOND H. (Air Mission) Medal of Honor
Rank and organization: Major, U.S. Army Air Corps. Place and date: Near Rabaul, New Britain, 2 November 1943. Entered service at: Portsmouth, Va. Born: 28 September 1917, Portsmouth, Va. G.O. No.: 23, 24 March 1944. Citation: For conspicuous gallantry and intrepidity above and beyond the call of duty in action with the enemy near Rabaul, New Britain, on 2 November 1943. Leading his squadron in an attack on shipping in Simpson Harbor, during which intense antiaircraft fire was expected; Maj. Wilkins briefed his squadron so that his airplane would be in the position of greatest risk. His squadron was the last of 3 in the group to enter the target area. Smoke from bombs dropped by preceding aircraft necessitated a last-second revision of tactics on his part, which still enabled his squadron to strike vital shipping targets, but forced it to approach through concentrated fire, and increased the danger of Maj. Wilkins' left flank position. His airplane was hit almost immediately, the right wing damaged, and control rendered extremely difficult. Although he could have withdrawn, he held fast and led his squadron into the attack. He strafed a group of small harbor vessels, and then, at low level, attacked an enemy destroyer. His 1,000 pound bomb struck squarely amidships, causing the vessel to explode. Although antiaircraft fire from this vessel had seriously damaged his left vertical stabilizer, he refused to deviate from the course. From below-masthead height he attacked a transport of some 9,000 tons, scoring a hit which engulfed the ship in flames. Bombs expended, he began to withdraw his squadron. A heavy cruiser barred the path. Unhesitatingly, to neutralize the cruiser s guns and attract its fire, he went in for a strafing run. His damaged stabilizer was completely shot off. To avoid swerving into his wing planes he had to turn so as to expose the belly and full wing surfaces of his plane to the enemy fire; it caught and crumpled his left wing. Now past control, the bomber crashed into the sea. In the fierce engagement Maj. Wilkins destroyed 2 enemy vessels, and his heroic self-sacrifice made possible the safe withdrawal of the remaining planes of his squadron. 
1944 - During the day, the US 8th Air Force attacks the Leuna synthetic oil plant at Merseburg. The Americans claim 183 German fighters (including 4 jets) destroyed for the loss of 40 bombers and 28 fighters (including losses to antiaircraft defenses). During the night, Bomber Command attacks Dusseldorf with 992 bombers as well as sending smaller forces to strike other targets. A total of 20 planes are reported lost in all operations.
    1944--BOLTON, CECIL H. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company E, 413th Infantry, 104th Infantry Division. Place and date: Mark River, Holland, 2 November 1944. Entered service at: Huntsville, Ala. Birth: Crawfordsville, Fla. G.O. No.: 74, 1 September 1945. Citation: As leader of the weapons platoon of Company E, 413th Infantry, on the night of 2 November 1944, he fought gallantly in a pitched battle which followed the crossing of the Mark River in Holland. When 2 machineguns pinned down his company, he tried to eliminate, with mortar fire, their grazing fire which was inflicting serious casualties and preventing the company's advance from an area rocked by artillery shelling. In the moonlight it was impossible for him to locate accurately the enemy's camouflaged positions; but he continued to direct fire until wounded severely in the legs and rendered unconscious by a German shell. When he recovered consciousness he instructed his unit and then crawled to the forward rifle platoon positions. Taking a two-man bazooka team on his voluntary mission, he advanced chest deep in chilling water along a canal toward 1 enemy machinegun. While the bazooka team covered him, he approached alone to within 15 yards of the hostile emplacement in a house. He charged the remaining distance and killed the 2 gunners with hand grenades. Returning to his men he led them through intense fire over open ground to assault the second German machinegun. An enemy sniper who tried to block the way was dispatched, and the trio pressed on. When discovered by the machinegun crew and subjected to direct fire, 1st Lt. Bolton killed 1 of the 3 gunners with carbine fire, and his 2 comrades shot the others. Continuing to disregard his wounds, he led the bazooka team toward an 88-mm. artillery piece which was having telling effect on the American ranks, and approached once more through icy canal water until he could dimly make out the gun's silhouette. Under his fire direction, the two soldiers knocked out the enemy weapon with rockets. On the way back to his own lines he was again wounded. To prevent his men being longer subjected to deadly fire, he refused aid and ordered them back to safety, painfully crawling after them until he reached his lines, where he collapsed. 1st Lt. Bolton's heroic assaults in the face of vicious fire, his inspiring leadership, and continued aggressiveness even through suffering from serious wounds, contributed in large measure to overcoming strong enemy resistance and made it possible for his battalion to reach its objective. 
    1946 -a three day snowstorm began at Denver, CO. By the time it ended had dropped 31 inches of snow on the city, the second greatest snowfall ever
    1947-the mammoth flying boat Hercules, then the world’s largest airplane, was designed, built and flown (once) by Howard Hughes on this day. Its first and only flight was about one mile and at an altitude of 70 feet over Long Beach Harbor, CA. The $25 million, 200-ton plywood craft was nicknamed the “Spruce Goose.” It is now displayed near the Queen Mary at Long Beach, CA.
    1948 - When Harry S Truman went to bed this day, he was losing the election for president of the United States (to Thomas E. Dewey). "Chicago Daily Tribune" printers were out on strike and getting the newspaper to readers was no simple task. To make a long story short, the editors had to guess at the outcome of the election and picked/printed the wrong person to win. Upon arising the next morning, Truman learned he had won. On a short train stop in St. Louis, he stepped onto the back platform of the train and was presented with one of the newspapers with the infamous headline, “DEWEY DEFEATS TRUMAN”. It was at that moment that the famous photo of Truman holding up the paper was taken. When asked to comment, Truman said “This is for the books.”
    1949---Top Hits
That Lucky Old Sun - Frankie Laine
You’re Breaking My Heart - Vic Damone
I Can Dream, Can’t I? - The Tommy Dorsey Orchestra (vocal: Jack Leonard)
Slipping Around - Margaret Whiting & Jimmy Wakely
    1950---VAN WINKLE, ARCHIE---Medal of Honor
Rank and organization: Staff Sergeant, U.S. Marine Corps Reserve, Company B, 1st Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Vicinity of Sudong, Korea, 2 November 1950. Entered service at: Arlington, Wash. Born: 17 March 1925, Juneau, Alaska. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a platoon sergeant in Company B, in action against enemy aggressor forces. Immediately rallying the men in his area after a fanatical and numerically superior enemy force penetrated the center of the line under cover of darkness and pinned down the platoon with a devastating barrage of deadly automatic weapons and grenade fire, S/Sgt. Van Winkle boldly spearheaded a determined attack through withering fire against hostile frontal positions and, though he and all the others who charged with him were wounded, succeeded in enabling his platoon to gain the fire superiority and the opportunity to reorganize. Realizing that the left flank squad was isolated from the rest of the unit, he rushed through 40 yards of fierce enemy fire to reunite his troops despite an elbow wound which rendered 1 of his arms totally useless. Severely wounded a second time when a direct hit in the chest from a hostile hand grenade caused serious and painful wounds, he staunchly refused evacuation and continued to shout orders and words of encouragement to his depleted and battered platoon. Finally carried from his position unconscious from shock and from loss of blood, S/Sgt. Van Winkle served to inspire all who observed him to heroic efforts in successfully repulsing the enemy attack. His superb leadership, valiant fighting spirit, and unfaltering devotion to duty in the face of heavy odds reflect the highest credit upon himself and the U.S. Naval Service.
    1954-the first US Senator elected by a write-in vote was James Strom Thurmond, Democrat of South Carolina, who was elected on November 2,1954, for the term ending January 3, 1961.Thurmond received 139,106 votes, defeating Edgar Brown, the official candidate of the Democratic Party, who received 80,956 votes.
Senator Thurmond, the oldest member of the Senate, recently announced he
will not run for re-election.
    1955 - Julie London's first pop song, a sultry version of "Cry Me a River," made its appearance on the charts. The song spent 5 months on the charts, but only reached #9 at its peak. Julie is the former wife of both Dragnet's Jack Webb and songwriter/ trumpeter Bobby Troup.
    1955-Tennessee Ernie Ford's "Sixteen Tons" first appears on the charts. It will become one of the biggest selling singles of its time.
    1955-- Julie London's "Cry Me a River" enters the charts
    1956-- A riot breaks out at Fats Domino's show in Fayetteville, NC, with police resorting to tear gas to break up the unruly crowd. Fats jumps out of a window to avoid the melee; he and two other band members are slightly injured.
    1957---Top Hits
Jailhouse Rock - Elvis Presley
You Send Me - Sam Cooke
Silhouettes - The Rays
Wake Up Little Susie - The Everly Brothers
    1958-the Chicago Bears and the Los Angeles Rams set an NFL single-game attendance record as 90,833 fans watched the Rams beat the Bears, 41-35, at the Los Angeles Coliseum.
    1958 - "Billboard" magazine introduced a new chart ranking top singles, in order, from number 1 to 100. Before this invention, only 30 records were on weekly hit lists.
    1959 - Charles Van Doren, when questioned on this date about winning $129,000 on a television quiz show, told a congressional investigation committee that he was given the answers in advance by program staff members. His testimony was the most dramatic to date in the ongoing investigation of quiz show scandals. Van Doren had been a low-salaried college assistant professor who appeared on the show Twenty- One. It was revealed that rigging was prevalent on many television quiz shows during the early 1950s in order to boost viewer ship. Van Doren benefited from the rigging not only by receiving the huge amount of money, but by later earning a regular spot on the Today television show.
    1961 - The temperature at Atlanta, GA, reached 84 degrees to establish a record for November.
    1962-The missile bases in Cuba were being dismantled, President Kennedy reported to the nation, adding that “progress is now being made toward restoration of peace in the Caribbean.”
    1962 - Elvis Presley film ``Girls! Girls! Girls!'' premieres.
    1963 - Following the overthrow of his government by South Vietnamese military forces the day before, President Ngo Dinh Diem and his brother are captured and killed by a group of soldiers. The death of Diem caused celebration among many people in South Vietnam, but also lead to political chaos in the nation.Diem was perceived as an impediment to the accomplishment of U.S. goals in Southeast Asia. His increasingly dictatorial rule only succeeded in alienating most of the South Vietnamese people, and his brutal repression of protests led by Buddhist monks during the summer of 1963 convinced many American officials that the time had come for Diem to go. Three weeks later, an assassin shot President Kennedy. By then, the United States was more heavily involved in the South Vietnamese quagmire than ever.
    1963-The Beach Boys' "Be True To Your School" is released.
    1963-- Dion angrily walks off the set of the British ITV television program Ready Steady Go! in the middle of performing his hit "Donna the Prima Donna," claiming the go-go dancers surrounding him duing the song are distracting.
    1963-- Reviewing the Beatles' concert the night before in Cheltenham, England, the British paper Daily Mirror uses the headline "Beatlemania!" effectively inserting the phrase into the popular consciousness for the first time.
    1965---Top Hits
Yesterday - The Beatles
A Lover’s Concerto - The Toys
Get Off of My Cloud - The Rolling Stones
Hello Vietnam - Johnny Wright
    1968 - Another Stevie Wonder hit went on sale, "For Once in My Life" would reach #2 on the pop charts on December 28, 1968.
    1968-- Cream is presented with a platinum album for Wheels of Fire at the Madison Square Garden stop of their farewell tour.
    1969-- The Rolling Stones quasi-documentary Sympathy for the Devil, directed by Jean-Luc Godard, premieres in San Francisco.
    1971 - No. 1 Billboard Pop Hit: ``Gypsys, Tramps & Thieves,'' Cher.
    1973---Top Hits
Midnight Train to Georgia - Gladys Knight & The Pips
Keep on Truckin’ - Eddie Kendricks
Paper Roses - Marie Osmond
We’re Gonna Hold On - George Jones & Tammy Wynette
    1973 - CBS airs the Barbra Streisand television special Barbra Streisand and Other Musical Instruments, featuring special guest Ray Charles.
    1974- "The Way We Were" by Barbra Streisand topped the charts and stayed there for 3 weeks.
    1974-Three Dog Night's next to last chart record, "Play Something Sweet" enters The Hot 100 where it will peak at number 33. August of 1975 would see the end of their eight years as hit makers when "Til the World Ends" would reach number 32. 
    1974-Even though he was the one who was the most opposed to touring in the final years of The Beatles, George Harrison became the first to set out on a solo tour when he appeared in Vancouver, Canada with Billy Preston. It will be a troublesome show for him as his voice is ravaged after LP sessions and tour rehearsals. The concert and the rest of the tour played in front of thin crowds. 
    1976-James Earl “Jimmy” Carter, Jr., was elected president of the United States. Walter F. Mondale was elected vice president. The electoral vote was Carter 297; Pres. Ford, 240. The popular vote was Carter, 40,828,929, Ford, 39,148,940. In congressional elections the Democrats kept a 2-1 Senate majority, 61-38, with one seat going to an independent, and House majority of 292-143.
    1981---Top Hits
Arthur’s Theme (Best That You Can Do) - Christopher Cross
Start Me Up - The Rolling Stones
Private Eyes - Daryl Hall & John Oates
Never Been So Loved (In All My Life) - Charley Pride
    1983-- President Ronald Reagan signs a bill establishing Martin Luther King, Jr., Day.
    1984-After a judge rules that he shot in self defense, The Reverend Marvin Gay Sr. is given only five years probation for killing his son, Marvin Gaye. (Marvin added an "e" to his stage name) Ironically, it was Marvin Jr. who had given his father the .38 revolver used in the killing. 
    1985-- With his new single, "Part-Time Lover," topping the charts, Stevie Wonder becomes the artist with the longest period between Number Ones: 22 years. (This song also sets a record by going to #1 on five different Billboard charts.
    1985 - For the second time in television history,, a soundtrack LP from a television show topped the album charts. "Miami Vice", with a title track by Jan Hammer, spent 11 nonconsecutive weeks at #1. The only other television soundtrack to hit #1 was Henry Mancini’s "Peter Gunn" in 1959.
    1985 - Stevie Wonder's "Part-Time Lover " reaches the No. 1 spot in The Billboard Hot 100. Winning this spot makes Wonder the first artist to have a single on five different Billboard charts: the Hot 100, Hot Black Singles, Hot Adult Contemporary, Hot Dance/Disco Club Play and Hot Dance/Disco 12-inch Singles.
1985- "I Want to Know What Love Is" by Foreigner topped the charts and stayed there for 2 weeks.
    1989---Top Hits
Miss You Much - Janet Jackson
Sowing the Seeds of Love - Tears For Fears
Listen to Your Heart - Roxette
High Cotton – Alabama
    1989 - Squalls in the Upper Great Lakes Region the first three days of the month buried Ironwood MI under 46 inches of snow, and produced 40 inches at Hurley WI. Arctic cold invaded the Southern Plains Region. Midland TX reported a record low of 22 degrees.
    1991 - Karyn White’s "Romantic" hit #1 for one week on the "Billboard Hot 100" chart.
    1993 - Christine Todd Whitman was elected the first woman governor of New Jersey.
    1994----Top Hits
I ll Make Love To You- Boyz II Men 
All I Wann---Top Hits a Do- Sheryl Crow
Secret- Madonna
Another Night- Real McCoy
    1995 - The immensely popular Seinfeld episode, "The Soup Nazi", first aired on NBC.
    1995-The US TV music show Soul Train celebrates 25 years on the air with appearances by Al Green, Bill Withers, Diana Ross and Patti LaBelle. 
    1997 - Denver QB John Elway reached two milestones this day. (1)He accounted for 276 total yards (in a 30-27 victory over the Seattle Seahawks) for 50,273 yards in his career. He was the third player in NFL history -- after Dan Marino and Fran Tarkenton -- to reach the 50,000 plateau. (2)And with 252 yards passing, Elway moved past Tarkenton into second place in career passing yardage with 47,019, trailing only Marino at that point. (All this during a 30-27 victory over the Seattle Seahawks.) 
    1999----Top Hits
Smooth- Santana Featuring Rob Thomas 
Satisfy You- Puff Daddy Featuring R. Kelly
Heartbreaker- Mariah Carey Featuring Jay-Z 
Mambo No. 5 (A Little Bit Of...)- Lou Bega
    1999 - TV, a 24-hour TV network, was launched by the National Basketball Association. Commissioner David J. Stern said, “" TV represents the convergence of the Internet, television and basketball. By combining the immediacy and depth of information from with current and historical television programming from the NBA, TV will offer our fans complete, round-the-clock coverage of the league."
    2000- Wrigley Field has been granted preliminary landmark status by the Commission on Chicago Landmarks. Any plans to refurbish or tear down Cubs' home since 1916 will have to be reviewed by this panel. goes online, publishing in both official languages: Rock and Roll. 
    2003----Top Hits
Baby Boy, Beyonce-Featuring Sean Paul
Stand Up- Ludacris Featuring Shawnna
Holidae In- Chingy Featuring Ludacris & Snoop Dogg
Get Low- Lil Jon & The East Side Boyz Featuring Ying Yang Twins
    2006 - Justin Timberlake and Gnarls Barkley each win several trophies at the 13th annual MTV Europe Music Awards, held in Copenhagen. Timberlake, who also serves as host and performer at the event, wins for best male and best pop. Gnarls Barkley wins best song for their international smash "Crazy."




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