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Disclosures Laws: Good or Bad?
By Ken Greene, Leasing News Legal Editor

 

Ken sums it up, ”Get your life jackets out, and get ready to ride the waves.” - Editor

I represent dozens of brokers and funding sources throughout the country and beyond. Lately what has been “top of mind” for my clients are the myriad disclosure laws cropping up across the country. California leads the way. Those doing business here have survived the California Financial License application process, the California Department of Financial Protection and Innovation (NMLS) transition, or both. Before they could sit back and take a deep breath, a task much more complicated and with far greater impact on the equipment and commercial finance space, one which threatens to change its landscape, has destabilized the industry like an earthquake.

The concept of disclosures was initiated in 2018 in California of course, presumably with good intentions, by Senator Steven Glazer. The idea was to afford borrowers and lessees a clearer picture of what their prospective finance arrangements were, so they could compare offers as apples to apples, not oranges.

Fine idea, for sure. That idea launched an 8 page law. So far, so good. But the law needed clarification. That clarity required 4 years, 4 sets of modifications, much lobbying and input, resulting in 49 pages of regulations, some of which make sense, and some of which are, well, as abstruse as the word abstruse. But that wasn’t enough.

The California Department of Financial Protection and Innovation also generated a 202 page Final Statement of Reasons! Here it is for those of you with insomnia: https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/06/PRO-01-18-Commercial-Financing-Disclosure-Regulation-FSOR.pdf?emrc=0f3440

Do the math. The disclosures, the premise of which is clarity and transparency, total 259 pages. This is the very definition of irony. I would like to know how many of our readers have read all 259 pages of rules, regulations and reasons.

There are issues. One, which we highlighted in our last article, was whether state-chartered bank subsidiaries were exempt from the licensing and disclosure laws. Apparently, at least one California Department of Financial Protection and Innovation (DFPI) examiner believes that state chartered bank subsidiaries require California Financial Licenses, and commented that they needed to comply with the disclosure laws, a comment he later retracted. But there is no clarity and far too much confusion. My clients are all frustrated and many are worried about compliance.

Yesterday I read (perused?) the Final Statement of Reasons (above link) and found the following guidance on one issue:

Comment Letter 1.10 dated October 28, 2020 from California Bankers Association (“CBA”). CBA believes strongly that “subsidiaries, affiliates and entities otherwise related to depository institutions” engaged in the business of lending should be exempted from the proposed regulations. CBA requests a clarifying definition of “depository institution” (as set forth in statute) to address that issue, as well as alternatives to address the issue in a different way.

Response to Comment 1.10.The Department disagrees with CBA’s requests. First, the term “depository institution” is already defined in Financial Code section 22800, subdivision (h). Second, CBA’s requested “clarifying definition” would be an expansion of the statute’s definition, not a clarification. Similarly, CBA’s suggested revision of the term “provider” would also be an expansion of the definition set forth in Financial Code section 22800, subdivision (m). No change to the regulations is warranted by this comment.

You might wonder what this means. What it means to me is that the DFPI has rejected the suggestion that state and federal chartered bank subsidiaries be included in the exemption regulations. That means no subsidiaries, unless they are wholly owned and a division of the bank (i.e. all employees of the bank, not the sub), will be exempt from the disclosure laws.

That’s just one wrinkle in the new laws, one small clause which will have an enormous impact on the industry. Beyond that, it is California Department of Financial Protection and Innovation examiner’s opinion that state chartered bank subsidiaries need to be licensed. If that is true, it is going to require many companies to change the way they do business. Moreover, now we have to wonder whether the California Department of Financial Protection and Innovation’s position will expand to include federal chartered bank subsidiaries. At the moment, I don’t know the answer to that question. What I do know is that we are in for a tidal wave of change. And this is just California. Get your life jackets out, and get ready to ride the waves.

Ken Greene
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
Alternate: kengreenelaw@outlook.com

Ken Greene Leasing & Finance Observations
https://leasingnews.org/Pages/greene_observations.htm

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Balboa Capital Updates:
Funders Looking for Broker Business list updated
along with Funder List "A" & Story Credits List

Name In Business Since Contact Website Leasing Association	Employees	Geo Area	Dollar Amount	Business Reports	A	B	C	D	E
Balboa Capital Corp. 1988 A Division of Ameris Bank since December 2021 Robert J. Rasmussen Chief Operating and Risk Officer 949-399-6344 robertjr@balboacapital.com https://www.balboacapital.com  AACFB, ELFA, NEFA	229	USA	$3,000 - $5,000,000		Y	Y	N	N	Y

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen

There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list.

We encourage companies who are listed to contact us for any change or addition they would like to make. We encourage adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers.

Please send company name, contact/email or telephone number as well as a URL to attach or description to kitmenkin@leasingnews.org

Full List:
https://leasingnews.org/Funders_Only/New_Broker.htm

Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support/Work

 

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“Your Greatest Strengths”
Career Crossroad---By Emily Fitzpatrick/RII

One of the top questions asked by interviewers will be “What are your greatest strengths*” and how they will assist in your new role. The objective will be to demonstrate that your skills will be a good match for the position and company.

In answering this line of questioning, you will want to be specific. Describe how your strengths will help you accomplish the tasks and responsibilities required by tying them to the job description. This will establish your candidacy. Knowing that this questioning will be a part of the interview process, you must take the time to prepare and consider your answers.  

When you are responding to these questions, use examples from past positions to demonstrate your strengths as they relate to the job for which you are applying.

Examples 
“One of my greatest strengths is my ability to work effectively with many different people. My strong communication skills have made me an effective project manager on dozens of projects over the years. Because this job involves many team projects, I know that my communication and interpersonal skills and make me an ideal fit for the position.

My organizational skills are my greatest strength. I am capable of keeping many projects on track at the same time. At my last job, I was typically the project manager on several team assignments, due to my ability to stick to deadlines and keep track of our team’s progress. These organizational skills would allow me to juggle all the day-to-day operations of the office as office manager.”
*Be prepared by making a list of the qualifications mentioned in the job requisition. Then, make a list of your skills that match. This list can include education or training, soft skills, or past work experience. Narrow your list of skills down to three to five of your strongest.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
www.riicareer.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76

Also follow us on Twitter #RIIINFO
https://www.pinterest.com/recruitersinter/rii-career-services/

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

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Top Ten Leasing News Read by Readers
October 31 to November 4

(1) Ladder of Achievement
Placard
https://leasingnews.org/archives/Oct2022/10_31.htm#ladder

(2) Prospective Employees
Put them in a room...Placard
https://leasingnews.org/archives/Nov2022/11_02.htm#placard

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Nov2022/11_04.htm#hires

(4) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Nov2022/11_02.htm#hires

(5) Optimism Continues
By Scott Wheeler, CLFP, Business Consulting
https://leasingnews.org/archives/Nov2022/11_04.htm#optimism

(6) The Top Five Leasing/Finance Funder Websites
In North America
https://leasingnews.org/archives/Oct2022/10_31.htm#five

(7) Utah-based equipment finance company is on a mission
to help one thousand businesses before year-end
https://www.digitaljournal.com/pr/utah-based-equipment-finance-company-is-on-a-mission-to-help-one-thousand-businesses-before-year-end

(8) Rapid Finance Advises Their Originators
Pausing New Applications Construction Companies
https://leasingnews.org/archives/Nov2022/11_02.htm#rapid

(9) Marijuana Could Become Legal
  in These Five States After Midterms
Where is the Cannabis Movement Headed Next?
https://leasingnews.org/archives/Nov2022/11_02.htm#marijuana

(10) TopMark Funding Drives into Final Quarter of 2022
With Impressive YTD Growth
https://leasingnews.org/archives/Oct2022/10_31.htm#topmark

Become a Digital Marketer Online in 18 Weeks
Part-time Schedule - Keep Your Day Job

To Learn more:
https://bootcamp.berkeley.edu/digitalmarketing/landing/

Greyhound – 40 lbs.
West Village, New York, New York

Mocha

Female
7 Years Old
40 lbs.
Recommended best for suburbs

Meet Mocha! She is a 7-year-old, 40-pound, Greyhound mix looking for her forever home! Mocha has a very sweet and loving personality.  She loves to cuddle up on the couch after a long day and gets even comfier when you put a blanket over her.  One of her all-time favorite things is to get belly rubs.  She will instantly become your best friend if you give her attention. Another way to this sweet girl’s heart is to give her some roasted chicken.  Mocha will not stop nudging you until she gets a least a little piece! 

She does not do well with city noises so for this reason, we believe she would thrive in the suburbs.  Mocha gets along well with cats but does not do well with other dogs.  Don’t let this girl with a big heart go, inquire about her today!

Mocha is spayed, microchipped, and up to date on her vaccinations. For more information about her, please fill out an application at www.ALRcares.com and email Laura@alrcares.com.

We schedule meet and greets for approved adopters only, an application is the first step in our approval process. Thank you!

Application:
https://www.alrcares.com/dogapp

Animal Lighthouse rescue
Laura@alrcares.com
https://www.alrcares.com/about-us

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Most Influential Lawyers
in Equipment Finance and Leasing

Andrew Alper
Julie Babcock
Bill Carey
Richard Contino
Jonathan Fleisher
Marshall Goldberg
Kenneth Charles Greene, Esq.
Michael A. Leichtling
David G. Mayer
Allan J. Mogol
Frank Peretore
John G. Sinodis
Mark Stout
Kevin Trabaris
Allan Umans
Mark Wada
Irwin Wittlin

News Briefs---

Elon Musk's Hyperloop prototype tube is gone
    What does it mean for his tunneling dream?
https://www.latimes.com/california/story/2022-11-05/elon-musk-hyperloop-tunnel-hawthorne-removed?utm_id=74257&sfmc_id=1646692

Oregon hospitals overstuffed with patients
    ready to leave but with nowhere to go
https://www.oregonlive.com/business/2022/11/oregon-hospitals-overstuffed-with-patients-ready-to-leave-but-with-nowhere-to-go.html

‘It’s getting worse’: Hawaii’s feral chickens
    are taking over downtown Honolulu
https://www.sfgate.com/hawaii/article/hawaii-feral-chickens-in-honolulu-17555886.php

These are the men running Elon Musk’s Twitter
    The billionaire has installed several members of his inner circle
https://www.washingtonpost.com/technology/2022/11/06/elon-musk-inner-circle/

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A ‘Legend’ Finally Gets His Moment
    Dusty Baker’s first World Series title as a manager
https://www.nytimes.com/2022/11/06/sports/baseball/dusty-baker-world-series-astros.html

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Sports Briefs---

A reason to cheer: Dusty Baker is
    a World Series-winning manager
https://www.sfchronicle.com/sports/annkillion/article/A-reason-to-cheer-Dusty-Baker-is-a-World-17562901.php

New York Jets pull stunning upset as
Josh Allen struggles, Bills offense flops
https://www.usatoday.com/story/sports/nfl/2022/11/06/new-york-jets-beat-buffalo-bills-josh-allen-interceptions/8288607001/

Jaguars rally from 17-0 deficit to beat Raiders for
franchise's second-biggest comeback
https://www.usatoday.com/story/sports/nfl/jaguars/2022/11/06/jaguars-raiders-score-jacksonville-rallies-for-win/8288713001/

Packers lose WR Romeo Doubs, CB Eric Stokes to injuries
https://www.theredzone.org/Blog-Description/EntryId/26103/Packers-lose-WR-Romeo-Doubs--CB-Eric-Stokes-to-injuries

A win over the Colts is all that matters, but performance
by Mac Jones and Patriots’ offense isn’t sustainable
https://www.bostonglobe.com/2022/11/06/sports/win-over-colts-is-all-that-matters-performance-by-mac-jones-patriots-offense-isnt-sustainable/

Justin Herbert outduels Marcus Mariota as
L.A. Chargers defeat the Atlanta Falcons
https://www.oregonlive.com/nfl/2022/11/justin-herbert-outduels-marcus-mariota-as-la-chargers-defeat-the-atlanta-falcons.html

SLU women's soccer wins fifth straight A-10 championship
https://www.stltoday.com/sports/college/slu/slu-womens-soccer-wins-fifth-straight-a-10-championship/article_cc493472-97c9-5eaa-91dc-cfa788ae5f37.html#tracking-source=home-top-story

What they’re saying nationally, in Boulder
after Oregon Ducks beat Colorado
https://www.oregonlive.com/ducks/2022/11/what-theyre-saying-nationally-in-boulder-after-oregon-ducks-beat-colorado.html

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California Nuts Briefs---

Twitter lays off about 900 in San Francisco Bay Area
    after Elon Musk takeover: official state report
https://www.mercurynews.com/2022/11/05/twitter-layoff-job-cut-elon-musk-tech-economy-bay-area-900-state-1000/

Facebook Parent Meta Is Preparing to Notify
Employees of Large-Scale Layoffs This Week
https://www.wsj.com/articles/meta-is-preparing-to-notify-employees-of-large-scale-layoffs-this-week-11667767794?mod=hp_lead_pos1

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"Gimme that wine"

Winemaker Randy Ullom of Santa Rosa’s Kendall-Jackson
     named ‘American Wine Legend’ by Wine Enthusiast
https://www.northbaybusinessjournal.com/article/industrynews/winemaker-randy-ullom-of-santa-rosas-kendall-jackson-named-american-wine/

Global Warming Saves Oregon's Vintage
https://www.wine-searcher.com/m/2022/11/global-warming-saves-oregons-vintage

San Jose native parlays his palate as
Ritz Carlton’s lead sommelier
https://www.eastbaytimes.com/2022/11/06/san-jose-native-parlays-his-palate-as-ritz-carltons-lead-sommelier/

“Gimme that Wine”
http://www.youtube.com/watch?v=EJnQoi8DSE8

Free Wine App
https://www.nataliemaclean.com/mobileapp/

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

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

This Day in History

     1646 - The Massachusetts Bay Colony passed a law making it a capital offense to deny that the Bible was the Word of God. Any person convicted of the offense was liable to the death penalty.
    1791 - General Arthur St. Clair, governor of Northwest Territory, was badly defeated by a large Indian army.  Miami Indian Chief Little Turtle led the powerful force of Miami, Wyandot, Iroquois, Shawnee, Delaware, Ojibwa and Potawatomi that inflicted the greatest defeat ever suffered by the U.S. Army at the hands of North American Indians. Some 623 regulars were killed and 258 wounded on the banks of the Wabash River near present day Fort Wayne, Indiana. The staggering defeat moved Congress to authorize a larger army in 1792.
    1798 - Congress agreed to pay a yearly tribute to Tripoli, considering it the only way to protect U.S. shipping. The US has no appreciable Navy at this time. This is the most expedient and assured way to protect American shipping in the Mediterranean. Thus, the part of the Marine Corps hymn, “…to the shores of Tripoli…”
    1856 - James Buchanan was elected President. Stephen A. Douglas coveted the Democratic nomination in 1856 but his reputation had been badly tarnished by ongoing violence in Kansas. In his place, the Democrats turned to James Buchanan, who had been the minister to Britain from 1853 to 1856 and was not linked to the Kansas issue. The Republicans ran their first presidential campaign in 1856, choosing noted Western explorer John C. Frémont, “The Pathfinder." Frémont had no political record (regarded as a plus), but held abolitionist views (a negative in the eyes of many moderates). The Republicans ran a campaign calling for repeal of the hated Kansas-Nebraska Act, opposition to the extension of slavery into the territories and support for internal improvement projects. They also took every opportunity to blame the Democrats for the horrors of “Bleeding Kansas." Buchanan emerged the victor, but failed to gain a majority of the popular vote. In fact, a shift of a small number of votes in several states would have tipped the electoral tally to the Republicans. Mirroring the sectional feelings of the day, the Democrats were strong in the South, the Republicans in the North. The election in 1856 brought a weak President to leadership in a badly divided nation.
    1873 - Dentist John Beers of San Francisco patents the gold crown
    1898 - The first church to bear the Pentecostal Holiness name was organized at Goldsboro, NC, under the leadership of Methodist evangelist Ambrose Blackman Crumpler, 35.
    1864 - Battle of Johnsonville, Tennessee. In the summer of 1864, Sherman captured Atlanta, and by November, he was planning his march across Georgia. Meanwhile, the defeated Confederates hoped that destroying his line would draw Sherman out of the Deep South. Nobody was better at raiding than Confederate Gen. Nathan Bedford Forrest, but Union pursuit had kept him in Mississippi during the Atlanta campaign. Johnsonville was an important transfer point from boats on the Tennessee River to a rail line that connected with Nashville to the east. When Sherman sent part of his army back to Nashville to protect his supply lines, Forrest hoped to apply pressure to that force. Forrest began moving part of his force to Johnsonville on October 16, but most of his men were not in place until early November. Incredibly, the Union forces, which numbered about 2,000, seem to have been completely unaware of the Confederates just across the river. Forrest brought up artillery and began a barrage at 2 p.m. on November 5. The attack was devastating. One observer noted, "The wharf for nearly one mile up and down the river presented one solid sheet of flame." More than $6 million worth of supplies were destroyed, along with four gunboats, 14 transports, and 20 barges. General George Thomas, commander of the Union force at Nashville, had to divert troops to protect Johnsonville. After the raid, Forrest's reputation grew, but the raid did not deter Sherman from embarking on the March to the Sea, his devastating expedition across Georgia.
    1879 - Birthday of Will Rogers (d. 1935) at Oologah, Indian Territory (now Oklahoma).  American writer, actor, humorist and grassroots philosopher, he was killed in an airplane crash with aviator Wiley Post near Point Barrow, AK, August 15, 1935. “My forefathers,” he said, “didn't come over on the Mayflower, but they met the boat.”
    1879 - African-American T. Elkins patents the refrigerating apparatus.
    1884 - Grover Cleveland was elected President of the United States and Thomas A. Hendricks was elected Vice-President. The electoral vote was: Cleveland, 219; James G. Blaine, Republican of Maine, 182. The popular vote was: Cleveland 4,911,017; Blaine 4,848,334. In congressional elections, the Republicans gained five seats in the Senate to gain a 43-34 majority. In the House, the Republicans gained 22 seats, but the Democrats held a 183-140 majority. Robert M. La Follette, Republican of Wisconsin, was elected to his first term in the House of Representatives. A celebrated presidential campaign slogan aimed at Grover Cleveland was, “Ma, Ma, where's my Pa?”---a reference to Cleveland's admission that he fathered a child out of wedlock. To this query the Democrats would reply, “Gone to the White House, ha, ha, ha.”
    1889 - After a formal meeting of representatives from all National League chapters, the Brotherhood issued a "manifesto" in which it claimed that "players have been bought, sold and exchanged as though they were sheep instead of American citizens." This led to a declaration of war between the Brotherhood and Major League officials which soon exploded into the formation of the Players League.  The Brotherhood of Professional Baseball Players represented the first serious effort to organize a labor union consisting of baseball players. It was launched in 1885 with the aim of raising player salaries in recognition of the growing popularity of professional baseball and the growth in revenues generated by the game. It also aimed to combat the reserve clause which restricted player movement and helped to keep salaries down. The organization gained official recognition when NL owners first met with the Brotherhood's representatives in 1887. However, relations between the two soon became difficult as owners were unwilling to make significant concessions.  The impasse led to the creation of the Players League in 1890, which included many of the most famous stars of the time and which was owned and operated by the players themselves.  
    1897 - The first Library of Congress building opened its doors to the public. Previously, the Library had been housed in the Congressional Reading Room in the U.S. Capitol.
http://memory.loc.gov/ammem/today/nov01.html
    1906 - Birthday of Robert Bernard “Bob” Considine (d. 1975), sportswriter and author, at Washington, DC.  Considine parlayed some early success as a tennis player and a job as a federal government clerk into a career as a sportswriter. He covered baseball starting in 1933 and soon became a columnist for the Hearst newspapers. He branched out into politics and national affairs and served as a war correspondent during World War II. He wrote or coauthored more than 25 books, including the screenplay for “Pride of the Yankees,” the film biography of Lou Gehrig. 
    1916 - Birthday of Walter Leland Cronkite, Jr., (d. 2009), St. Joseph, MO.  Journalist, war correspondent, former anchor for “CBS Evening News.”  During the heyday of CBS News in the 1960s and 1970s, he was often cited as "the most trusted man in America" after being so named in an opinion poll.  In mid-February 1968, Cronkite journeyed to Vietnam to cover the aftermath of the Tet Offensive.  Upon return, Cronkite wrote an editorial report based on that trip. On February 27, 1968, Cronkite closed that editorial report: “We have been too often disappointed by the optimism of the American leaders, both in Vietnam and Washington, to have faith any longer in the silver linings they find in the darkest clouds…”  Following Cronkite's editorial report, President Lyndon Johnson is claimed by some to have said, "If I've lost Cronkite, I've lost Middle America.”
    1918 - Birthday of Art Carney (d. 2003), Mount Vernon, NY.
An actor, he won an Oscar for “Harry and Tonto” and six Emmys for “The Honeymooners” as Ralph Kramden’s (Jackie Gleason) sidekick, Ed Norton.       
    1919 - Birthday of bass player Joe Benjamin (d. 1974), Atlantic, City, NJ
http://www.jazzvalley.com/musician/joe.benjamin
http://shopping.yahoo.com/shop?d=product&id=1927041585
    1920 - Women voted nationally for the first time, enabled by the 19th Amendment which prohibits any United States citizen from being denied the right to vote on the basis of sex.
    1922 - Birthday of pianist Ralph Sutton (d. 2001), Hamburg, MO.
http://www.artistdirect.com/music/artist/bio/0,,499089,00
.html?artist=Ralph+Sutton
http://www.riverwalk.org/profiles/sutton.htm
http://www.jazzcanadiana.on.ca/_SUTTON.htm
    1924 - Calvin Coolidge was elected to the top office of the United States. Coolidge was already in the office as President having to complete Warren G. Harding's term (Harding died in office). The electoral vote was Coolidge 382; John W. Davis, Democratic candidate, 13. The popular vote was Coolidge 15,725,016; Davis 8,385,503, La Follette, 4,822,856. The huge Republican victory in the presidential election was anticipated.  The Democrats had torn themselves apart in a struggle for the nomination. Gov. Alfred E. Smith of New York represented the East and the big cities, and William G. McAdoo of Tennessee, the southern and western parts of the country. The eventual nominee was John W. Davis, an able man but almost unknown to the voters. The Republicans, on the other hand, could point with pride to Calvin Coolidge and a record of prosperity. The Democrats tried to make much of the scandals of the Harding administration but failed to stir the electorate. In fact, despite a strong third party in the field, only about half of those eligible to vote did so.
    1924 - The first woman governor was Nellie Taylor Ross, Wyoming, elected to fill the unexpired term of her late husband, William Bradley Ross. From 1933 to 1935, she served as Director of the Mint, the first woman to do so.
    1926 - Birthday of percussionist Carlos “Patato” Valdez (d. 2007), Havana, Cuba
http://www.jazzgalerie.de/galerieseiten/VC1.HTM
    1927 - A great Vermont flood occurred. Tropical rains deluged the Green Mountain area of Vermont causing the worst flood in the history of the state. Torrential rains, up to 15 inches in the higher elevations, sent streams on a rampage devastating the Winooski Valley. Flooding claimed 200 lives and caused $40 million damage. The town of Vernon reported 84 deaths. Flooding left up to eight to ten feet of water in downtown Montpelier. (2nd-4th)
    1928 - Arnold Rothstein, New York's most notorious gambler, is shot and killed during a poker game at the Park Central Hotel in Manhattan. After finding Rothstein bleeding profusely at the service entrance of the hotel, police followed his trail of blood back to a suite where a group of men were playing cards. Reportedly, Rothstein had nothing good in his final hand. In the 1920's, Rothstein began purchasing nightclubs, racehorses, and brothels. He had such a formidable presence in the criminal underworld that he was reportedly once paid half a million dollars to mediate a gang war. As Rothstein's fortune grew to an estimated $50 million, he became a high-level loan shark, liberally padding the pockets of police and judges to evade the law. He is fabled to have carried around $200,000 in pocket money at all times.  Rothstein's luck finally ran out in 1928 when he encountered an unprecedented losing streak. At a poker game in September with "Hump" McManus, "Nigger Nate" Raymond, and "Titanic" Thompson, Rothstein lost a cool $320,000 and then refused to pay on the grounds that the game had been rigged. Two months later, McManus invited Rothstein to play what would be his final poker game. Police were never able to identify Rothstein's murderer. Asked who had shot him before dying, Rothstein reportedly put his finger to his lips and kept the gangsters' code of silence.  Rothstein was widely reputed to have organized corruption in professional athletics, including conspiring to fix the 1919 World Series.
    1928 - Birthday of drummer Larry Bunker (d. 2005), Long Beach, CA.
http://www.jazzvalley.com/musician/larry.bunker
http://shopping.yahoo.com/shop?d=product&id=1927046069
&clink=dmmu.artist&a=b
    1935 - The so-called Yankee Hurricane hit Miami with winds of 95 mph. It was unusual in that it moved into the area from the northeast
    1936 - Future U.S. Senate Chaplain Rev. Peter Marshall, 34, married Catherine Wood, 22. Following Peter's premature death at age 46, Catherine immortalized his name through her 1951 best-selling biography, "A Man Called Peter."
    1939 - The Packard Motor Car Company, Detroit, publicly exhibited the first air-conditioned car at the 40th Automobile Show, Chicago, IL. Air in the car was cooled to the temperature desired, dehumidified, filtered, and circulated. The refrigerating coils were located behind the rear seat in an air duct, with heating coils into another compartment of the same duct. The capacity of the unit was equivalent to 1.5 tons of ice in 24 hours when the car was driven at 60 miles per hour, or 2 tons at 80 miles per hour. The invention was first offered to the Ford Motor Company, invented by the Greenberg Brothers. It was a sweltering August day when the three Greenberg Brothers entered the posh Dearborn, Michigan offices of the notoriously anti- Semitic carmaker, Henry Ford. "Mr. Ford," announced Hyman Greenberg, the eldest of the three, "we have a remarkable invention that will revolutionize the automobile industry."
Ford looked skeptical, but their threats to offer it to the competition kept his interest piqued. Hi Greenberg continued, "We would like to demonstrate it to you in person." After a little cajoling, they brought Mr. Ford outside and asked him to enter a black car that was parked in front of the building. Norman Greenberg, the middle brother, opened the door of the car. "Please step inside, Mr. Ford." "What!" shouted the tycoon, "are you crazy? It must be one hundred degrees in that car!" "It is," smiled the youngest brother, Max, "but sit down, Mr. Ford, and push the white button." Intrigued, Ford pushed the button. All of a sudden, a whoosh of freezing air started blowing from vents all around the car, and within seconds the automobile was not only comfortable, it was quite cool! "This is amazing!" exclaimed Ford. "How much do you want for the patent?" Norman spoke up. "The price is one million dollars." Then he paused, "And there is something else. We want the name 'Greenberg Brothers Air Conditioning' to be stamped right next to the Ford logo." "Money is no problem," retorted Ford, "but no way will I have a Jewish name next to my logo on my cars!" They haggled back and forth for a while and finally they settled. One and one half million dollars, and the name Greenberg would be left off. However, the first names of the Greenberg brothers would be forever emblazoned upon the console of every Ford air conditioning system. And that is why today, whenever you enter a Ford vehicle you will see those three names clearly defined on the air-conditioning control panel: Max-Hi-Norm
    1946 - Birthday of Laura Bush, born Laura Lane Welch, Midland, TX.  Former First Lady, wife of President George W. Bush, she attended Southern Methodist University in Dallas, Texas, where she earned a Bachelor of Science degree in education in 1968. After college, she worked as a teacher at Longfellow Elementary School in the Dallas Independent School District until 1969 and then moved to Houston, Texas, where she taught at John F. Kennedy Elementary School in the Houston Independent School District until 1972. Later, she enrolled at the University of Texas at Austin and earned a Master of Library Science degree in 1973. Afterward, she worked at the Houston Public Library, Kashmere Gardens Branch until she moved back to Austin in 1974.  She worked as a librarian at Dawson Elementary School until 1977, when she met George Walker Bush at the home of mutual friends. They married in November, 1977 and made their home in Midland. In 1981, George and Laura Bush became the proud parents of twin girls, who are named Barbara and Jenna, after their grandmothers.
    1946 - UNESCO, the United Nations Educational, Scientific and Cultural Organization formed.
    1949 - “One Man's Family” premiered on TV and is the longest-running uninterrupted dramatic serial in the history of American radio. This series occurred at the same time as the popular radio drama of the same name.  In the first season, the cast included Bert Lytell as Henry Barbour, a wealthy San Francisco stockbroker and Majorie Gateson as his wife, Fanny. Also included were Eva Maria Saint and Tony Randall. The second time the show came to TV it was a 15-minute serial and had an entirely new cast.  It debuted as a radio series on April 29, 1932 in Los Angeles, Seattle and San Francisco, moving to the full West Coast NBC network the following month and ended in 1959.
    1950 - *POYNTER, JAMES I., Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps Reserve, Company A, 1st Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Near Sudong, Korea, 4 November 1950. Entered service at: Downey, Calif. Born: 1 December 1916, Bloomington, Ill. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a squad leader in a rifle platoon of Company A, in action against enemy aggressor forces during the defense of Hill 532, south of Sudong, Korea. When a vastly outnumbering, well-concealed hostile force launched a sudden, vicious counterattack against his platoon's hasty defensive position, Sgt. Poynter displayed superb skill and courage in leading his squad and directing its fire against the onrushing enemy. With his ranks critically depleted by casualties and being critically wounded himself, as the onslaught gained momentum and the hostile force surrounded his position, he seized his bayonet and engaged in bitter hand-to-hand combat as the breakthrough continued. Observing 3 machineguns closing in at a distance of 25 yards, he dashed from his position and, grasping hand grenades from fallen marines as he ran, charged the emplacements in rapid succession, killing the crews of 2 and putting the other out of action before he fell, mortally wounded. By his self-sacrificing and valiant conduct, Sgt. Poynter inspired the remaining members of his squad to heroic endeavor in bearing down upon and repelling the disorganized enemy, thereby enabling the platoon to move out of the trap to a more favorable tactical position. His indomitable fighting spirit, fortitude, and great personal valor maintained in the face of overwhelming odds sustain and enhance the finest traditions of the U.S. Naval Service. He gallantly gave his life for his country.
    1951 - Top Hits
“Because of You” - Tony Bennett
“I Get Ideas” - Tony Martin
“Down Yonder” - Del Wood
“Slow Poke” - Pee Wee King
    1952 - America said, “I Like Ike.” The Dwight D. Eisenhower/Richard M. Nixon ticket won a sweeping (55%-44%) victory over Democrat Adlai E. Stevenson and running mate John J. Sparkman. Eisenhower became the 34th President of the U.S. The electoral vote was Eisenhower, 442-89. The popular vote was Eisenhower, 36,938,285; Stevenson 27,312,217; Vincent Hallinan, Progressive, 140,138. The Republicans gained one Senate seat for a 48-47 majority with one seat going to a minor party. In the House, they gained 22 seats for a 221-211 majority, one seating to a minority party. On Election Day, 1952, UNIVAC, the world's first commercially available electronic computer, predicted a landslide for Eisenhower. In a test televised by CBS, the computer used early returns from key states to predict the election, based on voting patterns from 1944 and 1948. However, the computer's predictions were radically different from polls taken by Gallup and Roper, which predicted a close race, and the computer's programmers made adjustments so that the computer's first broadcast prediction corresponded more closely to the polls. Only an hour after the polls had closed with less than ten percent of the votes had been counted, the CBS TV Network, which employed the computer, was able to predict Eisenhower's landslide victory, trumping human experts who had predicted a close race. Ironically, the computer's original prediction of 438 electoral votes for Eisenhower and 93 for Stevenson was only off by four votes. The nation watched with interest as a Republican administration took over the reins of government for the first time in 24 years. The most explosive internal problem was Joseph R. McCarthy. Republican of Wisconsin, charging Soviet espionage activities in the U.S. The administration’s most outstanding success was a peace agreement in Korea. Pres. Eisenhower announced the agreement to a relieved country, but warned, “We have won armistice on a single battleground, but not peace in the world.”
    1953 - Hulan Jack elected first Black Borough President of Manhattan, NYC.
    1953 - “How to Marry a Millionaire” premiered, starring Marilyn Monroe, Betty Grable and Lauren Bacall.  One of the most popular films with the most beautiful women, it is about three women whose goal in life was to marry a rich man. The ending: love triumphs over all, and to the surprise of all, the richest man of the group.
    1954 - Florence Henderson, who was all of 20 years old, joined with Ezio Pinza and Walter Slezak in "Fanny." The show lit up Broadway 888 times.
    1954 - Philadelphia A's move to Kansas City.  In 1901, the Western League had been renamed the American League and declared itself the second Major League.  New franchises in the east were created and some franchises were eliminated in the West.  Philadelphia had a new franchise created to compete with the National League’s Phillies. Former catcher Connie Mack was recruited to manage the club. Mack, in turn, persuaded Phillies minority owner Ben Shibe and others to invest in the team called the Philadelphia Athletics. Mack himself bought a 25 percent interest.  In the early years, the A’s established themselves as one of the dominant teams in the new league, winning the A.L. pennant six times (1902, 1905, 1910, 1911, 1913 and 1914), and winning the World Series in 1910, 1911 and 1913.  They won over 100 games in 1910 and 1911, and 99 games in 1914.  In 1909, the A's moved into the Majors' first concrete-and-steel ballpark, named Shibe Park.  Lean years followed but a ‘second dynasty’ emerged in 1927-33 when, in 1927 and 1928, the Athletics finished second to the Yankees, then won pennants in 1929, 1930 and 1931, winning the World Series in 1929 and 1930.  In each of the three years, the A's won over 100 games.  The Depression took its toll and many of the ‘dynasty’ players were sold off to reduce expense in an era of low attendance.  This continued to decimate A’s teams and finally forced the sale to Arnold Johnson, who moved the team to KC.  They have been the Oakland A’s since new owner Charlie Finley moved them there in 1968.
    1956 - The top six songs on the pop and R&B charts are identical: Elvis Presley's "Jailhouse Rock," the Everly Brothers' "Wake Up Little Susie," Sam Cooke's "You Send Me," the Rays' "Silhouettes," Rickie Nelson's "Be-Bop Baby" and Jimmie Rodgers' "Honeycomb."
    1958 - African-American Shirley Verrett, world renowned opera singer, makes her debut in New York City.
    1958 - No. 1 Billboard Pop Hit:  “It's Only Make Believe,'' Conway Twitty.
    1959 – Cubs SS Ernie Banks won his second consecutive MVP award on the strength of his 45 home runs and 143 RBI.
    1959 - Top Hits
“Mack the Knife” - Bobby Darin
“Mr. Blue” - The Fleetwoods
“Put Your Head on My Shoulder” - Paul Anka
“The Three Bells” - The Browns
    1959 - After 17-year-old gang member Salvador Agron fatally stabbed two teens in New York, radio station WCBS banned the Bobby Darin hit "Mack the Knife."
    1961 - Bob Dylan makes his debut at the Carnegie Chapter Hall in New York City. Most of the fifty people in attendance are his friends who paid two bucks to get in. Dylan was paid twenty dollars for the night.
    1963 - The Beatles appear at the Royal Command Performances at the Prince of Wales Theatre in London. In attendance are the Queen Mother, Princess Margaret and Lord Snowden. It was here that John Lennon made his now famous announcement: "For our last number, I'd like to ask for your help. The people in the cheaper seats clap your hands and the rest of you, if you'd just rattle your jewelry. We'd like to sing a song called Twist and Shout."
    1967 - Smokey Robinson and the Miracles' "I Second That Emotion" is released.
    1967 - Top Hits
“To Sir with Love” - Lulu
“Soul Man” - Sam & Dave
“It Must Be Him” - Vikki Carr
“You Mean the World to Me” - David Houston
    1968 - Shirley Chisholm became the first black woman elected to the House of Representatives.
http://www.africanamericans.com/ShirleyChisholm.htm
http://nh.essortment.com/shirleychisholm_ruol.htm
http://scriptorium.lib.duke.edu/wlm/equal/
    1970 - King Peter II of Yugoslavia became the first European king to be buried in the United Sates. His Serbian name was Petar Karadjordjevic. He became King on October 11, 1934. He left Yugoslavia in 1941 after it was invaded by Germany and headed the exiled Yugoslav government during World War II. After 1945, when Yugoslavia became a republic, he lived in New York City.
    1972 - "I Can See Clearly Now" by Johnny Nash topped the charts and stayed there for 4 weeks.
    1973 - The Chicago Bears set a National Football League record by holding the Green Bay Packers to a minus 12 passing yards.
    1973 - The De Franco Family enjoyed their biggest hit when "Heartbeat - It's a Lovebeat" topped out at #3 on the Billboard chart.
    1975 - Top Hits
“Island Girl” - Elton John
“Lyin' Eyes” - The Eagles
“They Just Can't Stop It” (“Games People Play”) - Spinners
(“Turn Out the Lights And”) “Love Me Tonight” - Don Williams
    1975 – The Orioles’ Jim Palmer won his second consecutive Cy Young award after pacing the AL in wins (23), shutouts (10), and ERA (2.09).     
    1976 - Major League baseball held its first draft of players who had declared themselves free agents. 24 players from 13 clubs were available for selection. Reggie Jackson eventually signed the most lucrative contract in this group, $2.9 million over five years, to play with the New York Yankees.
    1978 - "You Needed Me" by Anne Murray topped the charts and stayed there for a week.
    1979 - 500 Iranians seized the US Embassy in Teheran, taking some 90 hostages, of whom about 60 were Americans. They vowed to hold the hostages until the former Shah, Mohammed Reza Pahlavi, who was in the US for medical treatments, was returned to Iran for trial. The Shad died July 27, 1980, in an Egyptian military hospital near Cairo. The remaining 52 American hostages were released and left Teheran on January 20, 1981, after 444 days of captivity.
    1980 - Republican Ronald Reagan won the White House defeating President Jimmy Carter. Reagan was the 40th President of the U.S., carrying 44 states winning by a landslide (489 electoral votes to Carter's 49). The popular vote was Reagan, 42,797,153; Carter 34, 424,100, John Anderson, independent candidate 5,533,927. In congressional elections, the Republicans picked up 12 Senate seats for a 53-46 majority, with one independent seat. In the House, the Democrats lost 33 seats but kept a majority of 242-192, with one seat going to an independent.  On January 20, as Ronald Reagan was being inaugurated, Iran released the 52 captives seized at the U.S. embassy in Teheran, in Nov. 1979, thus ending the Iranian hostage crisis.
    1980 - Japan's all-time HR hitter, Sadaharu Oh, retires from professional baseball. The Tokyo Yomiuri Giants' first baseman hit a record 868 home runs in his 22-year playing career.
    1980 – Steve Carlton of the Philadelphia Phillies won his second consecutive Cy Young Award. He posted a 24-9 record with a 2.34 ERA and a league-leading 286 strikeouts.  He joined Sandy Koufax, Tom Seaver and Jim Palmer as the only three-time Cy Young Award winners to that point.
    1981 - “The Fall Guy” premiered on TV. An hour-long adventure series, the story centered around a Hollywood stuntman, Colt Seavers, played by Lee Majors, who also moonlighted as a bounty-hunter, catching bail-jumpers. It also starred Douglas Barr, Heather Thomas, Jo Ann Pflug, Markie Post and Negra Volz. Lee Majors also sang the theme song for the show.
    1983 - Top Hits
“All Night Long” (“All Night”) - Lionel Richie
“One Thing Leads to Another” - The Fixx
“Telefone” (“Long Distance Love Affair”) - Sheena Easton
“Islands in the Stream” - Kenny Rogers with Dolly Parton
    1983 - The temperature at Billings, MT soars to 77, a new record for the data and month
    1984 - Seattle sets an NFL record by returning four interceptions for touchdowns in a 45-0 victory over Kansas City. Dave Brown scores twice while Kenny Easley and Keith Simpson also return interceptions for touchdowns. All of the scores are longer than 50 yards.
    1987 - The NBA announces four new franchises; Charlotte (Hornets) and Miami (Heat) for 1988 and Minneapolis (Timberwolves) and Orlando (Magic) for 1989.
    1987 - Thirty-two cities in the eastern and south central U.S. reported record high temperatures for the date. Highs of 74 degrees at Portland ME and 86 degrees at Fort Smith, AR equaled November records. It was the fourth day of record warmth for Beckley, WV, Memphis, TN and Paducah, KY. A cold front ushered much colder air into the north central U.S. Gale force winds lashed all five Great Lakes.
    1989 - Snow and high winds plagued parts of Colorado and Wyoming. Winds gusted to 71 mph near Wheatland, WY, and reached 80 mph west of Fort Collins, CO. Up to five inches of snow blanketed Yellowstone Park, WY closing many roads. Snow also blanketed northern Minnesota, with seven inches reported at Baudette.
    1991 - The Ronald Reagan Presidential Library & Museum was dedicated by five American presidents (the first gathering of five U.S. presidents). Reagan, President George Bush, and former presidents Jimmy Carter, Gerald R. Ford and Richard M. Nixon attended the ceremonies in Simi Valley, California.
    1991 - Top Hits
“Romantic” - Karyn White
“Cream” - Prince & The N.P.G.
“Can't Stop This Thing We Started” - Bryan Adams
“Anymore” - Travis Tritt
    1991 - Bobby "Blue" Bland, Booker T. & The M.G.s, Johnny Cash, Jimi Hendrix, The Isley Brothers, Sam & Dave and The Yardbirds are elected to the Rock and Roll Hall of Fame.
    1992 - Elton John and his songwriting partner Bernie Taupin sign a $39 million publishing contract with Warner-Chappell music -- the largest music publishing firm.
    1993 - The NBA Board of Governors accepted a recommendation from the Expansion Committee to award a franchise to a Toronto group headed by John Bitlove, Jr. The team, later named the Raptors, began play in the 1995-96 season.
    1997 - After an 18-month delay, Capitol Records releases The Beach Boys' "The Pet Sounds Sessions," a 4-CD boxed set which details the creation of The Beach Boys' album "Pet Sounds." Overseen by producer Brian Wilson, the collection allows the listener to hear a capella vocals from the master tapes and alternate mixes of the songs.
    2001 - In Game 7 of a classic World Series, Arizona rallies for two runs in the bottom of the ninth, defeating the Yankees and their usually unbeatable closer, Mariano Rivera, 3-2. The four-year old Diamondbacks, the youngest franchise to win a Fall Classic, end New York's string of three consecutive World Championships.  This was also the first World Series to have been played in November, delayed out of deference to those who lost their lives on 9/11.
http://www.sportingnews.com/archives/worldseries/2001.html
    2002 - Colorado Rockies right-hander Jason Jennings (16-6, 4.52) becomes first member of the Rockies to be selected by the BBWAA as the National League Rookie of the Year. The 24-year old right-hander receives 27 first-place votes from the 32 writers participating in the balloting.
    2003 - Miami-Dade County Commissioners approved a plan committing $73 million in tax money toward a new Major League ballpark for the Marlins. The World Champions, who have agreed to change their name to the Miami Marlins if the city builds the ballpark, want to begin playing in the $325 million new park in 2007, but still doesn't have a plan for raising $137 million needed as part of their commitment.
    2008 - Democrat Barack Obama was elected the first black President of the United States, defeating Republican John McCain; Democrats gained seats in the Senate and House.
    2013 - A successor to the SR-71 Blackbird is being built by Lockheed Martin. The company's Advanced Development Programs, known by the alias Skunk Works, has taken on the challenge to build the SR-72, capable of flying at Mach 6 with expected delivery in 2023.
    2013 - A private collection of 1,500 works of art plundered by the Nazi's and discovered in a Munich apartment in 2012, has an estimated worth of $1 billion; lost works include paintings by Matisse, Paul Klee, Marc Chagall and Picasso.
    2014 - Tim Scott becomes the first African-American Senator in the south since the Reconstruction.

World Series Champions
    2001 - Arizona Diamondbacks.