Send this page to a friend   |      Add me to mailing list    |           |      Search


Leasing Sales Manager

Develop & lead sales force in a fast track
company. Our phenomenal growth provides this great opportunity, 5+ years exper. working w/brokers. Relocate to beautiful
San Antonio, Texas.

Friday, November 4, 2005


Applications Fall, Mortgage Rates Rise
    SunBridge Capital joins the "Funder" List
        Classified Ads----Asset Management
Archives-Marlin Completes $96.9 MM Securitization
    Leasing Conference--AGFL
Long-Term Trends in Healthcare
--Implications for the Leasing Industry
    Venture Capital Investment Q3 05
        Arizona Association Meeting Report
Exclusive Interview
--- with Gary H. Souverein-Pawnee Leasing
    Classified Ads---Help Wanted
        Illinois courts dismiss IFC suits v. NorVergence customers
            Cartoon--For the Dog
Editorial from the Publisher
---The Cat is going to Get You
    Truck, Construction Repo's Show Increase in Q3
        CIT to Host Investor Day Conference
            News Briefs---
You May Have Missed
    California Nuts Brief---
        "Gimme that Wine"
Today's Top Event in History
    This Day in American History
American Football Poem
    -"Fight on, my men," says Sir Andrew Barton

######## surrounding the article denotes it is a "press release"



Applications Fall, Mortgage Rates Rise

Reaching the highest rate in 16 months, 30-year average mortgage rates hit 6.31%, compared to 5.11% a year ago. Adjustable-rate mortgages also went up.

Indications are the housing market is starting to cool due to the rising rates, as the Fed raised short-term rates a quarter-point to the highest level in four years. Also word that Congress was considering limited deductions of consumer home mortgage interest also put a damper on the market place, as consumer become more concerned about national gas prices and the higher cost of living.

While it is too early to see a trend, it should be noted that adjustable-rate mortgages accounted for 29.4% of mortgage applications.

Construction holds its trend while the season turns to winter and a slowing of this industry, and homes on the market take longer to sell, with asking prices being negotiated downward, a new indication of the market moving from a seller's dominance to a buyer's.

The housing, mortgage and construction industries have been fueling the economy. It is beginning to look like a cold Winter is coming.



SunBridge Capital joins the "Funder" List

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

In Business Since
Leasing Association
Equipment Restrictions
SunBridge Capital
Vickie Rocco
Chris Gregory
866-798-3699 - Fax

$20,000 - $500,000

Average Transaction
$75,000 - $100,00

Please see our website for detailed information on the types of equipement we fund.

(L) SunBridge Capital is a direct funding source. We specialize in commercial equipment such as construction equipment, work trucks, titled vehicles and more. Because we understand the value of the assets we fund, we are able to approve a wider range of customers than most other lenders, and deliver approvals in one business day or less.

We are committed to providing unprecedented sales tools to the Broker community. We give you the flexibility and control that you need to best serve your customers and to realize your business goals. This includes our on-line broker financing application at . Approvals are delivered as parameters, which allows our brokers to structure the most appropriate deal for their customers and increases their likelihood of closing.

*We are in the process of developing our private label program. Some documents can be customized for our regular brokers.

**We work direct with vendors who prefer to do business with a direct funding source; and those with whom we have a long standing relationship. We will never attempt to develop a vendor relationship as a result of information obtained from one of our brokers.

To view the complete list, please click here.

For the full list, please go here:



Classified Ads----Asset Management

Austin, TX.
20+ years exper. lease/finance. P & L responsibility, strong credit & collection management, re-marketing& accounting. Computers, construction, auto & transportation. Both commercial/ consumer portfolios.

Bloomfield Township, MI.
15+ yrs experience asset management and credit analyst. Leadership and training skills. Audited returns, max residual, lease end and resale negotiator. E-mail:

Chicago, IL.
MBA, 15+ years exp. Long history of success in maximizing residual position through outstanding negotiation skills & lease contract management. Third party re-marketing, forecasting etc...

Hartford, CT.
7yrs exp structuring US Leveraged & Single Investor leases w/ pre-paid deferred rents, 467 loans & early buyouts. Engineer rv guarantees, synthetic leases, economic capital models & securitizations.

Princeton, NJ.
Asset management/credit/collection 20+ years experience in equipment financing. Last five years in Asset Management including remarketing, end of lease negotiations, equipment and market evaluations

Wilton, CT.
18 years exp. in IT and High Tech leasing industry. Residual forecasting, workouts, off-lease sales, mid-term restructures, auctions, all aspects of remarketing and equipment management.

For a full listing of all "job wanted" ads, please go to:

To place a free "job wanted" ad, please go to:



From Our Archives---- November 3, 2000

"Marlin Leasing Completes $96.9 Million Securitization

"Marling Leasing proudly announces the completion of its second term securitization. Marlin recently sold $96.9 million in asset-backed securities that were rated by both Moody's and Fitch. "We are quite pleased with the execution of this recent transaction," said Dan Dyer, Marlin Leasing's CEO. "The company continues to grow; maintaining investor confidence in the asset-backed market plays a vital role in our long term success."




Leasing Association Conferences-Fall, 2005


Association of Government Leasing & Finance
November 9, 2005
Dana Point, California

Conference Brochure and Registration:


Chairman's Club

AIG Commercial Equipment Finance
Banc of America Leasing and Capital Group
DeLage Landen Public Finance, LLC
Standard & Poor's Corp.

President's Club
Fifth Third Leasing Company
LaSalle National Leasing Corporation
Moody's Investors Service
National City Commercial Capital
Oppenheimer & Co., Inc.
SunTrust Leasing Corporation
Silver Anniversary Club
All Points Capital Corp.
Ambac Assurance Corp.
Becker Stowe & Bieber, LLC
Chapman & Cutler, LLP
Doyle & Bachman
Financial Security Assurance
GE Capital Public Finance
Gilmore & Bell, P.C.
Government Leasing Company
Marquette Bank
Peck Shaffer & Willams, LLP
Popular Leasing
Tatonka Capital Corp.
Wachovia Bank, N.A.
Windels Marx Lane & Mittendorf, LLP



Long-Term Trends in Healthcare; Implications for the Leasing Industry

New report from Equipment Leasing and Finance Foundation

Healthcare, in the 25-year period from 2005 to 2030 will be shaped by the interaction of a growing demand for healthcare from an aging population and the limit on the resources of society. This interaction will put a premium on productivity and productivity gains will be driven by a wide variety of technology applications in the healthcare sector, many of which will be financed by leasing. A new study, Long-Term Trends in Healthcare: Implications for the Leasing Industry, provides insight into the opportunities and challenges of leasing healthcare equipment and technology. The study, published by the Equipment Leasing and Finance Foundation, provides readers a greater understanding of the projected growth in healthcare equipment, and identifies a number of factors that are converging to make the healthcare sector more receptive to lease financing. The study also provides insight into three major risks the leasing industry will encounter in trying to fill the potential demand for leased equipment.

This Foundation study is now available as part of the Healthcare Financing Compendium along with ELA's study, Healthcare Equipment Leasing: U.S. Market Dynamics and Outlook, 2005-2006.

The compendium can be purchased through the ELA store at

The Winter, 2005 Foundation Newsletter:



Venture Capital Investment Q3 05 - MoneyTree Survey Results

Arizona Association Meeting Report

The Arizona Equipment Leasing Association held it last meeting for the year 2005 at the Scottsdale Country Club Wednesday night.

Over 30 enthusiastic and energized leasing professionals networked and commented on the state of their businesses this year. To cap the evening Jeffery Taylor, published author and internationally renowned speaker gave a formal presentation " Has The Leasing Industry Lost Its Direction"

Mr. Taylor's insight into what drives leasing and what aspects will make up the direction of the leasing business were awesome. His presentation sparked continued discussion long after his presentation ended.

Pat McCann, CLP

AZELA Board Member



Exclusive Interview
with Gary H. Souverein, Pawnee Leasing

By Kit Menkin

Pawnee Leasing Corporation, Fort Collins, Colorado, established in 1982, is a very well respected and well-known small-ticket funding source specializing in start-up business and less traditional credits up to $30,000. Today they have 45 employees and work primarily with brokers who have been in business for only a year ( many are well established for over twenty-five years.) Their rates are high and terms tough, but they have a growing niche in the marketplace as their success has indicated. They know what they are doing.

While I was on vacation, the following press release was issued:

cars4U announces the acquisition of Pawnee Leasing and proposed conversion to an income fund.

Toronto, October 24, 2005 - cars4U Ltd. (cars4U) (TSX: CFU) announced today that it has entered into an agreement to acquire Pawnee Leasing Corporation (Pawnee) of Fort Collins, Colorado. For more that 20 years, Pawnee has been a leader on the start-up and near prim finance market throughout the United States. For the year ended June 30, 2005, Pawnee had income before taxes of US$8.9 million.

"Pawnee has had 23 years of consistence growth in its lease portfolio, cash flow and profitability," said Barry Shafran, President and CEO of cars4U. "Pawnee will be an excellent complement to cars4U's existing leasing and automotive operations, which have also demonstrated ling-term stability, as reflected in our dividend program over the last few years. This acquisition provides a solid foundation for future growth plans."

cars4U also announced today that its board of directors has approved in principle the reorganization of its capital and the conversion of cars4U into an income fund, intended to be completed prior to carrying out the proposed acquisition of Pawnee. The parties intend to proceed with the various required processes and finalize this transaction as soon as possible, prior to March 31, 2006. And information circular derailing the proposed conversion will be mailed to shareholders, to be followed by a meeting of cars4U's shareholders to consider the conversion and related matters.

"Investment professionals believe that while the trust market may see some fine tuning in the near term, with almost $160 billion of capitalization, it remains vibrant," added Shafran. "Our businesses, with long term, stable cash flow are ideally suited for an income trust."

Under the terms of the Pawnee purchase agreement, the purchase price will be US$57.9 millions, of which US$44.4 million is payable in cash at closing with the balance satisfied through the issuance of securities which are directly or indirectly exchangeable for units of the income fund. It is expected that financing for the acquisition will be obtained through an initial public offering of trust units of the proposed income fund, with TD Securities acting as lead underwriter.

Pawnee's senior management team will continue on their roles with Pawnee. In addition, Rob Day and Sam Leeper, Pawnee's Chairman and founder, and CEO respectively, will be among the trustees for the income fund.

"Pawnee's excellent management team, years of consistent performance and commitment to future expansion combine to offer our new income fund and ideal platform from which to grow," added Shafran. "The retention of management as stewards for Pawnee and as significant unit holders in the new income fund was key for us in taking this exciting step forward."

"We are thrilled by the opportunity to join cars4U," said Rob Day, Chairman of Pawnee. We believe that combined operations of cars4U and Pawnee will provide an excellent opportunity for investors, and we are excited to hold a significant retained interest in the new income fund."

About cars4U Ltd. - cars4U Ltd. Is traded on The Toronto Stock Exchange under the symbol CFU. For more information visit, www.cars4U; , or


Barry Shafran
cars4U Ltd.

Tina Gladstone (media only)
Environics Communications Inc.


In June, 2005 Gary H. Souverein, who has been with the company since 1993, was elevated from executive vice-president to president and COO. Perhaps there was purpose in this move as cars4U "merger" includes Pawnee's senior management team will continue on their roles with Pawnee. In addition, Rob Day and Sam Leeper, Pawnee's Chairman and founder, and CEO respectively, will be among the trustees for the income fund.

"This is not a current event for Pawnee," he explained. "We've been engaged in discussions and subsequent due diligence with cars4U for several months. I can tell you due diligence can be a distraction to running any business, but we enjoy demonstrating our well disciplined business operations. We are very proud of the systems and results we've created at Pawnee."

"We were not seeking an opportunity like this; in fact just weeks earlier to our introduction to cars4U we had completed a significant financing facility with JPMorgan Chase... Our business was well positioned for our growth plans. Ours was not a situation motivated by some deficiency in our business. We have been exceptionally fortunate to have a stable record of success in every year of our company history."

Here are more specifics from Gary Souverein :

"On October 24 Pawnee entered into an agreement with cars4U to be acquired concurrent with our two firms completing an IPO...and conversion to an income trust/fund. Pending a successful IPO the purchase price would be $57.9 million. Under the terms of the purchase agreement, $44.4 million will be payable in cash at closing with the balance--- satisfied through the issuance of securities, which are directly or indirectly exchangeable for units of the income trust/fund."

"Canada's public marketplace is much smaller, but it is very dynamic... income trusts specifically make up over $160 billion of market capitalization. This is an important opportunity for us, to leverage the public capital markets.

cars4U appears to be impressed with the overall operation, particularly the earnings performance in Pawnee's marketplace. This is not a portfolio purchase, more an investment. Souverein appears excited about the opportunities to come.

"In the coming months, we should be successful in our IPO effort, " he said. He believes while the cultures of both are different, they both have the same mission.

"It centers on our shareholders, employees and customers, " he explained. "Every aspect of our business and 100% of our employee and management team remains as is.

"I can emphasize to you and your readers we intend to continue to deliver and focus our corporate mission to the broker community.

We will continue to underwrite small-ticket start-up and less traditional credits, like we have been doing since we started in 1982.

If you would like to offer support to Gary, encouragement, here is his address:

Gary H. Souverein
President & COO
Pawnee Leasing Corporation
700 Centre Avenue
Fort Collins, CO 80526
(800) 864-4266 ext. 222
(970) 482-2666 (Fax)



Classified Ads---Help Wanted

Administration Manager

Administration Manager

Five Point Capital, a well established and growth oriented commercial equipment financing company, is seeking an Administration Manager to lead its Funding and Documentation departments. Seeking those with 5+ years management experience and skilled at leading, mentoring and retaining employees. Small ticket funding experience a plus. Proven ability to maintain and enhance lessor/funder relationships.

Location: San Diego, CA. Send resume and salary history to:

Leasing Sales Manager

Leasing Sales Manager

Develop & lead sales force in a fast track
company. Our phenomenal growth provides this great opportunity, 5+ years exper. working w/brokers. Relocate to beautiful
San Antonio, Texas.

National Account Manager

Truck/Trailer Industry
National Account Manager

5+ year proven track record, located in either Texas or upper Mid-West markets,
estab. relationships to produce min. $750k
a month, for more information, click here.
To apply click here.




Illinois courts dismiss IFC suits v. NorVergence customers on jurisdiction and res judicata grounds

Randy Brook

Senior Attorney

Federal Trade Commission

"The Hon. James Ryan of the Circuit Court of Cook County, IL, 3rd Municipal District, has just issued his third decision and order dismissing suits by IFC Credit Corp. against consumers who had NorVergence Rental Agreements ("NRA") assigned to IFC. Judge Ryan held that the forum selection clause in the NRAs was "unenforceable because it offends the public policy of fundamental fairness" and, therefore, the Illinois courts have no personal jurisdiction over the out-of-state defendants. A copy of the Streng opinion and order is attached. Judge Ryan gave particular note to the significance of the Master Program Agreement between NorVergence and IFC that pre-dated any signing of the NRAs by consumers. This decision follows, and expands the reasoning of, prior decisions of the same court involving 14 separate cases brought by IFC.

"In addition, Judge Mary K. Rochford of the 2nd Municipal District dismissed an IFC suit against Magnetic Technologies on the merits, based on res judicata grounds. As yet there is only a handwritten order (copy attached).

"The FTC takes no position on these decisions. The undersigned staff attorney, speaking only for himself, does note that the FTC has long held that filing distant forum lawsuits against individual and small business consumers are unfair practices that violate the FTC Act, regardless of whether any particular state may uphold its courts' jurisdiction against distant consumers based on a forum selection or waiver clause in the contract."

"The Hon. Blanche Manning, US District Judge in the Northern District of Illinois, has dismissed an IFC lawsuit against Warner Robbins Supply on jurisdictional grounds. Judge Manning considered conflicting lower court decisions and held, on motion to reconsider, that the NorVergence forum selection was not enforceable and there was no other basis to exercise jurisdiction in IL.

"The case was handled by IL attorney Michael Fleck."





Incorporated May 21,2000





Lawrence C. Menkin, Publisher
Christopher Menkin, Executive Editor

Advisory Board Members


Wildwood Financial Group, Ellisville, Missouri
Nassau Asset Managmnt, Roslyn Heights, NY.
Bank of the West, Walnut Creek, CA.
Global Financial Services, Manhattan, NY.
Steve Gabriel Porter Novelli-Advanced Tech Division, Campbell, CA
Larkspur, California
Kabot Commercial Leasing, Seattle, WA.
Empire Bradcasting, San Jose, CA.
Kropschot Financial Services, Vero Beach, FL.
SFBI Recruiters, Atlanta, GA.
McCue Systems, Inc. Burlingame, CA.
San Diego Business Journal, San Diego, CA.
Dan Pulcrano

Metro Newspapers, San Jose, California

Santa Barbara Bank & Trust, Santa Barbara, CA.
Teichman Financial Training, Sausalito, CA.
ICON Securities, N.Y., N.Y./San Francisco, CA.
Brava Capital, Orange, CA.


The Cat is Going to Get You

This is not only addressed to lessors and their attorneys involved with NorVergence leases, but to others in the industry who are still living in the 20th century; the days before Google, Yahoo, Copernic, Mozilla Firefox, Opera, Safari, to name a few, plus list serve, blogs, and "professional" web sites a ten year old child can construct in a half hour---free hosting, free e-mail addresse with 1gb storage space, and digital televisions with sixty plus more channels for local and international news happening right now, seen right now, in real time, by satellite, even from Luso in Portugal to Adigar and Casablanca in Morocco ( I was there, almost every apartment had a satellite dish, often clothing hanging to dry, too, but satellite dish nevertheless.) Hotels in Rome, Lisbon, and even Oporto had wireless internet available for guests (one even had a hotel lap top you could bring to your room for personal use, if you did not have your lap top with you to plug in.) There is CNN, Fox News, BBC, all in English, local television news, and even American televisions shows: "CSI- New York" is popular in Portugal. And you haven't seen anything until you watch "Law and Order" in German.

While Leasing News may be alienating a few of its advertisers, several leasing associations, perhaps the 47 leasing companies involved ( the list is still be developed,) our mission is to be independent, unbiased, and provide fair news about the industry. This centers on factual information.

From my bottom floor office window I have a view out a window that goes from the ceiling to the floor, perhaps three and a half feet wide, that often I pull the shade up. My office is in the back of the second building, so not one can see it, but I have this luxurious landscape of an empty lot with the weeds cut down, right next to the County Superior Court House in Los Gatos. It is several football fields wide and long. Seriously, I like to look out the window because it is almost like being in the country.

When I am on the telephone, sometimes I look out and see this black cat. He is big for a cat. He owns the empty lot. It is his to survey. It is his to hunt. He often sits on a small hill in the far corner, surveying the panorama , looking perhaps for a golpher or another animal, more importantly, a bird that lands for the bugs in the soil covered with cut brown weeks. He is quite noticeable to me as I know where he likes being on the top of this small hill. He is black against the brown dirt and cut weeds. He has his territory. He has his own "office." My eyes go right to him every time I look out the window.

Sometimes in walking to my car, I see him sitting, waiting. He does not appear that he is moving. He might even be a small black statue. He seems to have great patience. The cat reminds me of Randy Brook, the Federal Trade Commission attorney, who specializes in prosecuting banks, financing, and leasing companies, as if he were a cat about to put his teeth around the bird and take him home to eat.

I remember one day looking from my window, sitting in my chair, watching the cat sneek up on its prey.

He moves very slowly, almost as if he is not moving at all. Low to the ground, almost as if he were part of it, deliberately in slow motion, keeping low to the ground, stopping when the bird looks his way, always keeping his two eyes on his goal. His prey is oblivious. There is no fear, just an occassion quick look around, no real care, just eating bugs, not aware he is about to be suddenly pounced upon and also eaten.

Lessors in NorVergence "Equipment Rental Agreements" are losing ground as expressed in a recent decision brought to Leasing News attention in Sterling National Bank, as assignee of NorVergence against Kings Manor Estates, LLC, and Paul Anderson, individually, in the civil court of the State of New York, New York County.

Sterling has its motion for summary judgment denied in NY and then may end up paying for the defendant's legal costs!

"As to any transfer, the court reserves the power to direct that the costs, including the cost of any Request for Judicial Intervention, be borne by plaintiff

"...the motion for summary judgment is denied and the motion for a stay is granted. This matter shall be stayed pending further order of the court and, three months hence, a conference before the court shall be held to determine whether the matter has been resolved or whether defendants request that this matter be transferred to the Supreme Court after the expiration of such stay. As to any transfer, the court reserves the power to direct that the costs, including the cost of any Request for Judicial Intervention, be borne by plaintiff. The court does not reach the question of whether the plaintiff, having elected this forum, has waived a right to request transfer of this matter."

In recent stories, especially in Illinois, cases of venue and other substance issues have gone against plaintiffs. Information, cases, are being share not only with NorVergence lessees, but their attorneys, who should not be viewed as a "sole practitioner but a member of perhaps the United States largest law firm with all its assets, experience, and knowledge with internet instant information.

For leasing companies who have not settled, Leasing News advises you to read this case, to realize you are not safe in your contract, and this cat is going to get you. Be warned. This cat does not have a bell around its neck.

Christopher Menkin, Publisher


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

Truck, Construction Repossessions Show Increase in Q3

Nassau Asset Management notes repos up in many sectors, but not all; Contributing factors include fuel costs, greater leasing activity

WESTBURY, NY, -Equipment repossessions and liquidations nationwide continued to rise during the third quarter, most notably for trucks and construction machinery, reports Nassau Asset Management. Nassau's NasTrac Quarterly Index (NQI) reveals trends in repossessions and orderly liquidations based upon the company's own internal activity in a given quarter compared to the same quarter the previous year.

Nassau provides asset recovery, appraisal, collections, liquidation and remarketing services for equipment leasing and finance companies across the nation. The company earlier this year noted that repossessions and liquidations during the first two quarters of 2005 increased significantly for the first time since 2002. This trend continues through the third quarter.

In the company's latest NQI, repossessions and liquidations during third quarter (Q3) 2005 compared with Q3 2004 increased in four of five categories: trucks/trailers (+188%); construction equipment (+126%); printing presses (+49%); and machine tools (+22%). However, repossessions and liquidations of medical devices decreased for the first time in 2005


Edward Castagna, president of the company, says several factors appear to be influencing the 2005 upswing in repossessions and liquidations for some equipment sectors.

"The obvious answer is that adverse economic conditions are driving up some repossessions. This is true, but not the whole story," Castagna explains.

"Fuel costs are among the adverse economic conditions affecting repossessions. There is no question in our minds that rising fuel costs earlier this year made it harder for truckers, construction companies and other firms to do business, which resulted in more repossessions," Castagna says. A September 2005 Duke University/CFO Magazine Business Outlook survey noted that chief financial officers cited high fuel costs as the number one concern for U.S. firms, surpassing high health care costs for the first time in the survey's history.

"Yet part of the increase in repossessions and liquidations may also be attributed to greater leasing activity by our clients in the equipment finance industry," Castagna adds. For example, if lease volume is up, even if delinquencies are as low as 1%, the numbers of liquidations and repossessions will rise.

The Equipment Leasing Association's (ELA) annual volume chart shows overall leasing volume peaked at $247 billion in 2000, and then slipped to: $216 billion in 2001; $206 billion in 2002; and $194 billion in 2003. The most recent chart, which compiles data from the federal government and ELA, includes estimates by Financial Institutions Consulting that predicted 2004 volume would increase to $220 billion, with 2005 volume potentially topping the industry's $247 billion highpoint in 2000.

The ELA recently reported that new business volume in September reached $5.06 billion, the highest for any month in 2005 and an increase of 18.1% over new volume generated in August.

About NQI

NQI reports on Nassau's internal repossession and orderly liquidation activity in a given quarter compared to the same quarter the previous year. Readers should keep in mind that results must be viewed over several quarters to establish trends.

Finance companies and industry analysts can also contract with Nassau to dig deeper into the numbers, determining the root causes for trends and researching specific equipment types. Companies can use their private reports created by Nassau to help mitigate risk in portfolios and/or provide useful economic indicators to their own clients.

About Nassau

Nassau Asset Management of Westbury, NY, has been providing nationwide full-service asset management, including equipment remarketing, fleet and plant liquidations, collections, and appraisals for more than 25 years to the equipment finance industry. For more information, please visit or call 1-800-4.NASSAU.

Edward Castagna

1-800.4.NASSAU, ext. 301, cc:


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

CIT to Host Investor Day Conference

NEW YORK, -- CIT Group Inc. (NYSE: CIT) will host an Investor Conference on Tuesday, November 8, 2005. The scheduled start time of the presentation is 8:00am EST and is expected to last until approximately 12:45pm EST. Presenters include Jeffrey M. Peek, Chairman and Chief Executive Officer, Joseph M. Leone, Vice Chairman and Chief Financial Officer, Thomas B. Hallman, Vice Chairman, Specialty Finance, Lawrence A. Marsiello, Vice Chairman and Chief Lending Officer, Frederick W. Wolfert, Vice Chairman, Commercial Finance and Walter J. Owens, Executive Vice President, Chief Sales & Marketing Officer.

A live webcast of the presentation, in addition to the accompanying slides, will be available on CIT's Investor Relations web site at To view the presentations and listen to the live event, log on to the web site approximately fifteen minutes prior to the start of the event to register, download and install any necessary audio software. A replay of the event will be archived at until 11:59pm EST on November 30, 2005.

About CIT Group

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has nearly $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its Global Headquarters in New York City and Corporate Offices

in Livingston, New Jersey, CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit .


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

News Briefs----

Retail Sales Rose 4.4% Last Month

Greenspan warns Congress budget deficits could cause serious economic disruptins

Fitch: Monthly Performance Weaker for U.S. Prime & Subprime Auto ABS

Amtrak's business operations need to be strengthened, GAO says

pre-qualification, pre-approval and loan commitment.

Risk of Avian Flu Could Send Poultry Indoors



You May Have Missed

Is New York Worth a Trip? Oui



California News Briefs---

Governor's re-election prospects low



"Gimme that Wine"

Coppola buys landmark winery in Geyserville

Artisans & Estates acquires La Jota

Airlines Go to Great Lengths in Choosing Wine



Restaurant Review

(Leasing News invites you to send in information about your favorite restaurant, or where you go when you are visiting another city.)

Tucson, Arizona

6440 N. Campbell Ave., Tucson, Arizona

520- 299-1771

Fax 520-299-6635


Very easy to find from downtown, either up two main streets or up Campbell or Main.

Definitely wear a tie. Get a reservation early, months in advance, if you can. Great dinner, great wine list, smoking and cigar smoking section that will not bother non-smokers, great view of the city, alhough new buildings and area surrounding the restaurant which at one time was alone on the hill.

Wine Spectator Magazines only Grand Award Winning Restaurant for Wine Selection in the entire State of Arizona. Fantastic service, great food and dessert. You will not be disappointed, except it is expensive (very for older wines, but you won't find them except in collector's cellars). Winner of many national dining awards, too. Truly an outstanding restaurant, equal or better than you will find in New York, San Francisco, Chicago, or New Orleans. (Not far from the Sheraton El Conquistador that I have stayed at four or five times for conventions and also to visit Arizona University).

If Burton Rogers is there, generally handling the wine selection, ask for him. I have known him from Gene's Liquors in Saratoga, to The Plumed Horse in Saratoga, to a great restaurant no longer in Monterey, and since he is one of the most knowledgeable and experienced on wine I have ever met, it will be your treat to meet him; a real character, too.



Today's Top Event in History

    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 tan 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



This Day in American 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.
    1862-The Gatling gun, designed by Richard Jordan Gatling, was given a patent. Its chief feature, six barrels revolving around a central axis, permitted high rates of fire. The first gun was, which fired 250 shots a minute, was made in Indianapolis. It was not employed by Union forces for over two years, first utilized in the siege of Petersburg, Virginia in the 1864-65 battles. The military did not know how to utilize the new weapon and the general was later demoted. It was later utilized successfully by the military in the West against American Indians who had bows and arrows, (a few had captured rifles but had no ammunition.)
    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 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, American writer, actor, humorist and grassroots philosopher, born at Oologah, Indian Territory ( now Oklahoma). With aviator Wiley Post, he was killed in an airplane crash 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 Sates; 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."
    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.
    1906-Birthday of Robert Bernard "Bob" Considine, sportswriter and author, born 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, Died at New York, NY, Sept 1, 1975.
    1916-Birthday of Walter Leland Cronkite, Jr., journalist, former anchor for "CBS Evening News, Born St. Joseph, MO.
    1918-Birthday of Art Carney, actor ( Oscar for "Harry and Tonto; six Emmys for "The Honeymooners.", born Mount Vernon, NY.
    1919-Birthday of bass player Joe Benjamin, Atlantic, City, NJ
    1920-Women voted nationally for the first time as constitutional bars lifted by 21st amendment.
    1922-Birthday of pianist Ralph Sutton, Hamburg, MO,,499089,00.html?artist=Ralph+Sutton
    1924 - Calvin Coolidge was elected to the top office of the United States. Coolidge was already in the office of 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. McAddo 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 "Potato" Valdez, Havana, Cuba
    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 dollars damage. The town of Vernon reported 84 deaths. Flooding left up to eight to ten feet of water in downtown Montpelier VT. (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.
    1928-Birthday of drummer Larry Bunker, Long Beach, CA.
    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 tan 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, First Lady, wife of President George W. Bush, born Midland, TX. 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. This series occurred at the same time as the popular radio continuing drama, 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.
    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 was the 34th president of the U.S. The electoral vote was Eisenhower, 442, Gov. Adele E. Stevenson, Democrat, 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 use, 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 his presidential race against Adlai Stevenson. 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 n 24 years. The most explosive internal problem was Joseph R. McCarthy. Republican of Wisconsin, charging Soviet espionage activities in the U.S. The administration 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, about three women who's 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.
    1958-African-American Shirely Verrett, world renowned opera singer, makes her debut in New York City.
    1954 -Philadelphia A's move to Kansas City
    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."
    1959-Top Mack the Knife - Bobby Darin
Mr. Blue - The Fleetwoods
Put Your Head on My Shoulder - Paul Anka
The Three Bells - The Browns
    1962 - Bob Dylan gave his first major concert outside of Greenwich Village. The Carnegie Hall solo appearance was not well attended.
    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.
    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 yards pass
    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
    1976-Major league baseball held its first draft of a 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 ( 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... 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. The Oakland Raiders won Super Bowl XV, defeating the Philadelphia Eagles 27-10. Divorce in 1981 hit a record 1,210,000, the government reported.
    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.
    1981-"The Fall Guy" premiered on TV. An hour-long adventure series, the story centered around a Hollywood stuntman, Colt Seavers ( Lee Majors) who also moonlighted as a bounty-hunter, catching bail-jumpers. It also starred Douglas Barr, heather Thomas, Jo Ann Pflug, Marie 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
    1987- The NBA announces four new franchises; Charlotte and Miami for 1988 ; Minneapolis and Orlando 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
    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.
    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, ends New York's string of three consecutive World Championships.
    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.

World Series Baseball Champions This Date

    2001 Arizona Diamondbacks.



American Football Poem

Sir Andrew Barton

(excerpts of a Scottish ballad)

"Fight on, my men," says Sir Andrew Barton,
"I am hurt, but I am not slain;
I'll lay me down and bleed a while,
And then I'll rise and fight again.

"Fight on my men," says Sir Andrew Barton,
"These English dogs they bite so low;
Fight on for Scotland and Saint Andrew
Till you hear my whistle blow!"

But when they could not hear his whistle blow,
Says Harry Hunt, "I'll lay my head
You my board yonder noble ship, my lord,
For I know Sir Andrew he is dead."

With that they boarded this noble ship,
So did they it with might and main;
And found eighteen score Scots alive,
Beside the rest were maimed and slain.

My lord Howard took sword in his hand,
And smote off Sir Andrew's head;
The Scots stood by and did weep and mourn,
But never a word durst speak or say.

He caused his body to be taken down,
And over the hatch board cast into the sea,
And about his middle three hundred crowns:
"Wheresoever thou lands, it will bury thee."

The National Football League (NFL) has had only one head coach with a Harvard degree, but he was an awfully good one. This year, Marv Levy, A.M. '51, who led the Buffalo Bills to four straight Super Bowl appearances--a feat matched by no other coach--was inducted into the NFL Hall of Fame in Canton, Ohio. At the ceremony, ESPN's Chris Berman introduced Levy by booming out the coach's signature line: "Where would you rather be than right here, right now?"

That question, embodying a Zen-like wisdom, helped focus athletes for the battle. Levy used it before every game for 44 years. His NFL teams compiled a regular-season record of 143-112 and went 11-8 in the postseason. The Bills destroyed opponents with their famous "no-huddle" offense run by flashy quarterback Jim Kelly, and boasted stars like running back Thurman Thomas, receiver André Reed, and defensive end Bruce Smith.

But perhaps Levy's greatest coaching achievement came in remobilizing the Bills each fall during their four-year Super Bowl run, since the team lost each of those big games. "Losing each one was tremendously disappointing," says Levy, who was 65 when the streak began. "I'd like to be able to say that we won one of them, or all four, but that's not going to change. Yet each time, our athletes showed their resilience--they got right back to work. The only way to win a Super Bowl is to get into it." After the first loss, a 20-19 heartbreaker to the New York Giants, the coach recalled a small book of poetry his mother had given him when he went into the service, and typed out four lines from an unknown British poet:

Fight on, my men, Sir Andrew said,

A little I'm hurt but not yet slain.

I'll just lie down and bleed awhile,

And I'll rise and fight again.

"Eight or ten players came up and asked for a copy of that poem," says Levy, who on another occasion cited Hemingway's definition of character as "grace under pressure," suggesting why one newspaper called him a "Renaissance man on the sidelines."

His own college-football career took place at Coe College in Iowa, where Levy was both a running back and a member of Phi Beta Kappa. "I loved the coaches at that small college--their high ideals," he recalls. "They were models who embodied everything I wanted to be." After graduation in 1950, he "reluctantly trudged off" to Harvard Law School, but immediately found himself sitting in classes thinking, "I don't want to be a lawyer--I can't take this." Levy called home to tell his father he was dropping out of law school, and that what he really wanted to do was be a football coach. "There were 30 seconds of painful silence," he recalls, before his father said, "Be a good one."

Levy quickly transferred into a master's program in history at the Graduate School of Arts and Sciences, where he studied under luminaries such as Arthur Schlesinger Sr., Merle Fainsod, and Sidney B. Fay, who advised Levy's thesis on the Lend-Lease program. The future leader also attended every Harvard football game. "I cannot avow that what I learned at Harvard prepared me precisely for a career as a football coach," Levy wrote in a 1994 memoir for the Phi Beta Kappa newsletter, the Key Reporter. "Perhaps being in an environment where such earnest enthusiasm pervaded all the activities--intellectual and nonacademic--of those who made up the Harvard community helped me understand how important it is to be associated with people who are intrinsically motivated."

Levy's coaching career began at St. Louis Country Day School, and included college jobs at Coe, New Mexico, William and Mary, and Berkeley, where future San Francisco 49er coach Bill Walsh was his assistant. (In 1970 Levy would be a finalist for the Harvard head coaching job that ultimately went to Joe Restic.) In 1978 he got his first NFL head coaching job with the Kansas City Chiefs and joined the Bills in 1986, staying through the 1997 season. When Levy took charge of the New Mexico program, he was the youngest head coach of a major college team in America, and by 1994 he had become the NFL's oldest head coach. "Challenge my coaching accomplishments if you wish," he wrote in the memoir. "But my stamina, at least, defies criticism."

"I went into football because I enjoyed it," he says. "You are surrounded by these great role models, playing a game that's energizing--and that's your life's work? How lucky can you get?"

(by the way, the poem is really a ballad about a Scottish Captain killed by the British, a true story remembered as a song, but that is another story for another day.)