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

kitmenkin@leasingnews.org
   

New Orange County Office
Taycor has developed and tested an innovative and
unique marketing engine, and we are ready to grow! 
We are looking for closers and relationship builders,
not cold callers. (Full description)
jobs@taycor.com or apply online at www.taycor.com


Monday, October 1, 2012


Today's Equipment Leasing Headlines

   Classified Ads---Collections
Leasing 102 by Mr. Terry Winders, CLP
 “Leasing Tax Change for 2013”
   Career Crossroad---“Greeting a hiring manager”
    Classified Ads---Help Wanted
Lender Gets Snared by Default Interest Provision
  in Poorly Draft Control Without a Lender's License
    By Tom McCurnin
     Top Stories September 24-September 28
   Forty Year old bank closes in suburbs of Chicago
          1st Annual Operating Lease Conference, Istanbul, Turkey
          ---In English, simultaneously translated into Turkish
Why Leasing News is Different
 By Christopher Menkin, Publisher/Editor
    The Most Educated Countries in the World
     by Michael B. Sauter and Alexander E. M. Hess
   Hitachi Capital America Establishes Finance subsidiary
    in Canada Hitachi Capital Canada Corp.
      L.A. CEO Sentenced to 18 Months Imprisonment
      For Tax and Mail Fraud in Telemarketing Investment Scheme
        Poodle
        Louisville, Kentucky Adopt-a-Dog
         Classified ads—Accounting / Aircraft / Appraisals
News Briefs---
Why US economy is flashing conflicting signals
   Building Starbucks one store at a time
      At 68, CEO Larry Ellison still going strong
Five Guys voted favorite burger chain, McDonald's near bottom

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

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
     Baseball Poem
      California Nuts Brief---
       "Gimme that Wine"    
          This Day in American History
         SuDoku
           Daily Puzzle
             GasBuddy
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.

Please send Leasing News to a colleague and ask them to subscribe.
We are free!


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Classified Ads---Collections


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


Long Grove, Illinois

17+ years Comdisco, accounts receivable, collections, customer service, plus senior management, seeking full time or part time assignment. 847-726-1883roborgaard@aol.com | Resume

Port St Lucie, FL
20+ yrs exp. commercial collection/late stage specialist. 
Prefer to work from home based office or transfer to Sarasota areamichaelgalan@comcast.net | Resume


Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

 

Gary DiLillo, President 440.871.0555 or gary@avptc.com

Comprehensive personal property tax outsourcing services.
Click here to see what our clients say about us.



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Leasing 102
by Mr. Terry Winders, CLP

“Leasing Tax Change for 2013”

There are going to be some changes in the business income tax deductions for 2013 unless Congress decides to extend the current tax incentives. Revenue Ruling 179 plus bonus depreciation are both slated to expire on December 31, 2012. This means that all equipment purchases in 2013 will only have Modified Accelerated Cost Recovery System (MACRS) established in 1986 for capital recovery purposes.

With an election year this year we do not expect any focus on extending these tax incentives. So the question is, how will it affect the equipment market next year and corresponding how will it affect commercial equipment leasing.

If depreciation benefits are limited to MACRS in 2013--- it will cause some business to be looking for a better way to finance due to a reduced amount of deductions. The 100% bonus deduction from 2011 and the 50% bonus depreciation from 2012 means that very little depreciation is left for 2013 and beyond and this will cause some interest in true leasing.

The bargain option leases, the last few years, gained in popularity because the bonus depreciation made retaining title more valuable than expensing lease payments. The problem with this is that many lease salespersons have only looked at leasing like a fancy loan and have not learned the skills to sell true leasing.

If you see that a five year MACRS is only 20% in the first year and a lease arranged in January with 60 payments around 1.91% times 12 months equals 22.92%. If irregular payments are arranged and increased for the first year to match equipment use and loss in value the lease payments would be higher and give the lessee a higher write-off. If a five year asset such as data processing equipment is leased for 30 to 40 months, the lease payments will be higher and the lease benefits much stronger.

The problem for lessors is the funding because a true lease requires the lessor to take the depreciation and determine how much of the tax benefits to pass on to the lessee in the form of lower lease payments.

This is all dependent on what happens to the bonus depreciation and the section 179 benefits for small business. One way or another -- next year promises to be different for commercial equipment leasing.

-----

I strongly recommend:


(To learn more about the CLP Handbook)
http://www.clpfoundation.org/toolbox/clp_handbook.php

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-649-0448.

He invites your questions and queries.

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



Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame.

502.649.0448/Leaseconsulting@msn.com

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


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Career Crossroad---“Greeting a hiring manager”


Question: Can you give me tips on greeting a hiring manager for an initial interview?

Answer: The hiring manager will be making mental notes:

· Did you grip his/her hand firmly – avoid “crushing” or having “clammy” hands (tip: a lite coat of deodorant helps)?

· Did you shake his/her hand with a sense of purpose and for an appropriate period of time (not too long or short … 3 is perfect, use one hand; a 2-handed shake = familiarity and is not appropriate)?

· Did you look her/him in the eye?

· Did you smile?

· Did you use her/his name when greeting her/him?

After you are seated (wait for the gesture to be seated), the Interviewer will be monitoring your gaze, physical posture and general attitude / demeanor

· Make appropriate intermittent eye contact – no staring nor avoiding the interviewer’s gaze and eye contact should be broken at natural points, rather than suddenly (e.g. middle of an exchange)

· Make sure your mouth, eyebrows, forehead are relaxed – don’t have an unnatural smile, clenched jaw, etc… these are signs that you may have problems handling stress

· Smile naturally and only occasionally

· Don’t nod rapidly

· Keep your hands still; constant twitching or leg tapping means you cannot calm down; AND by all means no knuckle cracking!

· Make sure you maintain good posture; bad posture does not leave a good impression - practice if you must

· Do not cross your arms and keep your head upright

· Be groomed to the hilt –You can never be “overly groomed” (no heavy cologne or perfume please!)

This should give you a good idea of how to present yourself in the best possible way for your initial introduction. If you need more detailed ideas / tips, check out the Archives for an article earlier this year which touched on interview image, etc… Of course you may always email me directly.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Connect on LinkedIn: Recruiters International, Inc.
Also follow us on Twitter #RIIINFO

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

 

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Leasing Industry Help Wanted


New Orange County Office
Taycor has developed and tested an innovative and
unique marketing engine, and we are ready to grow! 
We are looking for closers and relationship builders,
not cold callers. (Full description)
jobs@taycor.com or apply online at www.taycor.com

 

For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees.

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Lender Gets Snared by Default Interest Provision
in Poorly Draft Control Without a Lender's License

By Tom McCurnin
Barton, Klugman & Oetting


Lender’s Loan Contract Contained Default
Interest Provision, But No Similar Provision Upon Maturity.

JCC Development Corp. v. Levy, 2012 WL 3776544 (Cal. Ct. App. 2012).

Religion and politics make strange bedfellows. In this instance, a religious self-described philanthropist loaned a Jewish Center $2.7 million dollars. The loan was to accrue interest at 5%. The loan had a default interest rate of 6.5%.

When the loan matured, the Creditor sought to recover the whole 11.5%, the 5% on principal and the 5% default interest and an additional 1.5% default rate. In addition, some greed set in, and the Creditor sought to recover $15,000 in attorney fees, (even though no lawsuit was filed), and $15,000 in foreclosure trustee fees. Further complicating the Creditor’s case was the fact that it issued a payoff statement which surprisingly excluded a per diem (daily) interest rate.

The Jewish Center argued that the amounts were usurious (the Creditor did not have a lender’s license) and because of the peculiar language in the note which did not deem a default for not paying the matured loan, the Creditor could only recover 5% interest. The trial court ignored the strict provisions of the note, and ruled that the Creditor could recover all the sums including the whole amount of interest, attorney fees and trustee fees.

On appeal, the Court of Appeals reviewed a 1991 9th Circuit case which had a similar note provision which defined an event of default, which noticeably excluded, as a condition of default, failing to pay the matured loan. Consequently, the Court remanded the case back to the trial court to perform a re-amortization of the balance at the 5% rate and denied the Creditor the post maturity default interest rate.

There are three lessons to learn from this case.

First, whoever drafted the note and deed of trust should have reviewed the terms in light of that 20 year old case the Court cited. I suspect someone grabbed an old form and just ran with it. For $2.7 million dollars, it might have been wise to have counsel look this one over before sending for signature, and certainly, once in litigation, someone should have done some legal research and located this case. I was surprised that the Court of Appeals discovered this case and sandbagged the lawyers with it.

Second, payoff demands should be accurate and contain as much information as possible to enable the debtor to calculate the loan balance. Here, the Creditor got a little cute, failing to provide any detail of the payoff, so someone could figure out what the applicable interest rate was. On a $2.7 million dollar loan, this wasn’t the time to play hide the ball.

Finally, and this is a common thread in litigation, a bad settlement is often better than a good trial. I’m surprised the case did not settle. This wasn’t a clear cut case for the Creditor, because the document did not clearly allow the penalty interest. Since the Jewish Center became the prevailing party for appeal and this was an expensive lesson on settlement opportunities.

Levy Default Interest Case:
http://leasingnews.org/PDF/LevyDefaultInterestCase.pdf

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Fax: (213) 625-1832
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

 

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Top Stories September 24-September 28


Here are the top ten stories opened by readers:

(1) Placard—"No time to see a lease salesman!"
http://leasingnews.org/archives/Sep2012/9_28.htm#placard

(2) Now is the Time! Go for it!!!
by Christopher Menkin, Editor
http://leasingnews.org/archives/Sep2012/9_24.htm#time

(3) Every Asset Based Lender’s Nightmare!
By Frank Peretore, Scott Chait, and Tom McCurnin
http://leasingnews.org/archives/Sep2012/9_28.htm#nightmare

(4) New Hires---Promotions
http://leasingnews.org/archives/Sep2012/9_28.htm#hires

(5) How Important is the Legal Name on the UCC?
By Tom McCurnin
http://leasingnews.org/archives/Sep2012/9_26.htm#legal

(6) Marlin Leasing Stock on the Rise
by Christopher Menkin
http://leasingnews.org/archives/Sep2012/9_26.htm#marlin

(7) Leasing 102 by Mr. Terry Winders, CLP
Facts for Pricing”
http://leasingnews.org/archives/Sep2012/9_24.htm#facts

(8) America’s Most Wealthy States
By Michael B. Sauter, Samuel Weigley, Brian Zajac and Alexander E. M. Hess
http://leasingnews.org/archives/Sep2012/9_24.htm#wealthy

(9) Verizon iPhone 5's secret feature: It's 'unlocked'
http://hosted.ap.org/dynamic/stories/U/ US_TEC_VERIZON_IPHONE_5_UNLOCKED?SITE=

(10) Refi your mortgage if you can: Rates dive
http://www.bankrate.com/finance/news/refi-mortgage-rates-dive.aspx?ic_id=Top_Stories_link_1

 


 


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Forty Year old bank closes in suburbs of Chicago

The five branches of First United Bank, Crete, Illinois, were closed with Wintrust Financial Corporation subsidiary Old Plank Trail Community Bank, National Association, New Lenox, Illinois, to assume all of the deposits. This is the seventh bank to fail in Illinois this year, 43rd total for US, with cost to the Deposit Insurance Fund (DIF) will be $48.6 million.


Founded May 6, 1972, the bank had 93 full time employees as of June 30, 2012 at its two offices at Frankfort, as well as Crete, Saint John, and Steger, considered the Southern suburbs of Chicago as it is 40 miles away. Year-end 2008, the bank had 127 full time employees at these offices.

The bank received its first Illinois Department of Financial and Professional Regulation consent order to stop engaging in unsafe and unsound banking practices in March, 2010. It was too late as by end of year they had their larges loss $12.6 million as well as the climbing non-current loan column.

(in millions)

Non-Current Loans
2006 $487,000
2007 $1.8
2008 $16.9
2009 $24.6
2010 $31.9
2011 $33.7
6/31 $34.3

They received another, this time from the FDIC that Michael Kazmierczak Chief Executive officer, President and Chief Financial officer they agreed to on November, 2010.
http://www.federalreserve.gov/newsevents/press/enforcement/enf20101109c1.pdf


Fey Orr, saw the need for a community bank in Crete as it did not have one and founded it in 1972, a wealthy land owner.

In December 1977, Conrail was set to abandon 25 miles (40 km) of their ex-New York Central Railroad trackage between Kankakee and Sheldon, Illinois, when instead it was purchased by Beaverville businessman Fey Orr to service his lumber and agricultural products industry based there. On July 16, 1997, company founder Fey Orr died at 85.
http://en.wikipedia.org/wiki/Kankakee,_Beaverville_and_Southern_Railroad

Crete is a village in Will County, Illinois, United States. The population was 7,346 at the 2000 census. The median income for a household in the village was $67,671, and the median income for a family was $73,987.
http://en.wikipedia.org/wiki/Crete,_Illinois

Real Estate in Crete (appears to be some expensive homes for the area)
http://www.century21.com/real-estate/Crete-IL/LCILCRETE/#
http://www.homes.com/Real_Estate/IL/City/CRETE/

Full Description of Crete:
http://www.city-data.com/city/Crete-Illinois.html

At the time of the banks demise the Tier 1 risk-based capital ratio was 3.72%

(in millions, unless otherwise)

Net Equity
2006 $40.8
2007 $43.2
2008 $36.7
2009 $29.7
2010 $18.6
2011 $10.9
6/31 $6.9

Profit
2006 $4.5
2007 $4.2
2008 -$5.0
2009 -$9.4
2010 -$12.6
2011 -$7.1
6/31 -$3.9

Charge Offs
2006 $40,000 ($27,000 individuals, $13,000 commercial/industrial loans)
2007 -$8,000 (-$8,000 commercial/industrial loans)
2008 $12.7 ($6.8 commercial/ind., $3.1 farmland, $2.1 construction/land, $300,000 1-4 family,
$6,000 individuals)
2009 $9.9 ($7.2 construction/land, $1.1 individuals, $343,000 farmland, $252,000 1-4 family, $803,000 other loans)
2010 $3.6 ($2.2 construction/land, $828,000 farmland, $255,000 1-4 family, $210, commercial)
2011 $9.3 ($5.7 construction/land, $1.9 farmland, $1.0 commercial/industrial, $465,000 nonfarm/nonres., $138,000 1-4 family)
6/31 $1.0 ($508,000 1-4 family, $262,000 nonfarm nonres, $192,000 commercial/ind., $45,000 construction/land)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of June 30, 2012, First United Bank had approximately $328.4 million in total assets and $316.9 million in total deposits. Old Plank Trail Community Bank, N.A. will pay the FDIC a premium of 0.60 percent to assume all of the deposits of First United Bank. In addition to assuming all of the deposits, Old Plank Trail Community Bank, N.A. agreed to purchase essentially all of the failed bank's assets.

The FDIC and Old Plank Trail Community Bank, N.A. entered into a loss-share transaction on $172.7 million of First United Bank's assets.

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

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


 

 

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Why Leasing News is Different
By Christopher Menkin, Publisher/Editor


Leasing News main effort comes from our readers who give us leads.

Concentration is on the bank, finance, and leasing industry with five dedicated writers from the industry who contribute weekly columns. In addition, there are twenty regular contributing writers/columnists. Also at the editor’s disposal are four “investigators, “two of them professional, who can dig up the facts not just through the internet but from their industry contacts.

Most of our stories are written by our writers, researched, and directed by the editor, who also contributes articles.

Leasing News also calls on leading association members who cover their events exclusively for Leasing News. All leasing associations are treated equally and their news is important. Reports are also edited to stick to news and not fluff.

In addition, our web master is an ex-newspaper reporter, who has experience not only writing and covering stories, but inside work in both print and internet production, as well was a photographer for events. He contributes also in the writing.

The Leasing News graphic designer does all the graphics, creating cartoons, placards, and contributes the visual insight of stories. This is very important for the overall presentation of web news.

Leasing News acts as an ombudsman and learns much about various leasing companies from this activity; very few of the complaints make the edition as they are resolved, but the background information is invaluable from broker, funder, lessor, and lessee. There are normally five active complaints going on each week; the great majority resolved and not published on line.

In addition, Leasing News has an advisory board, which changes from time to time, who while not involved in editorial (stories)--- contributes ideas, business opinions, and acts as a group in giving direction to the publisher regarding many non-editorial subjects and discussions.

The advisory board and staff make a difference as news is gathered and written---but the number one difference is our readers.

You are our greatest contributors.

Mission Statement:
http://www.leasingnews.org/Mission_Statement.htm

Policy Statement:
http://www.leasingnews.org/policy.htm

 

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The Most Educated Countries in the World
by Michael B. Sauter and Alexander E. M. Hess


1.
Canada
Pct. population with tertiary education: 51%
Average annual growth rate (2000-2010): 2.4% (5th lowest)
GDP per capita: $39,050 (11th highest)

2.
Israel
Pct. population with tertiary education: 46%
Average annual growth rate (2000-2010): N/A
GDP per capita: $26,531 (13th lowest)

3.
Japan
Pct. population with tertiary education: 45%
Average annual growth rate (2000-2010): 2.9% (10th lowest)
GDP per capita: $33,785 (18th highest)

4.
United States
Pct. population with tertiary education: 42%
Average annual growth rate (2000-2010): 1.3% (2nd lowest)
GDP per capita: $46,548 (4th highest)

5.
New Zealand
Pct. population with tertiary education: 41%
Average annual growth rate (2000-2010): 3.5% (13th highest)
GDP per capita: $29,711 (17th lowest)

6.
South Korea
Pct. population with tertiary education: 40%
Average annual growth rate (2000-2010): 5.2% (6th highest)
GDP per capita: $28,797 (16th lowest)

7.
United Kingdom
Pct. population with tertiary education: 38%
Average annual growth rate: 4.0% (10th highest)
GDP per capita: $35,756 (15th highest)

8.
Finland
Pct. population with tertiary education: 38%
Average annual growth rate (2000-2010): 1.8% (4th lowest)
GDP per capita: $36,307 (14th highest)

9. Australia
Pct. population with tertiary education: 38%
Average annual growth rate (2000-2010): 3.2% (12th lowest)
GDP per capita: $40,790 (6th highest)

10.
Ireland
Pct. population with tertiary education: 37%
Average annual growth rate (2000-2010): 7.3% (the highest)
GDP per capita: $40,478 (7th highest)

Full Story:
http://247wallst.com/2012/09/21/the-most-educated-countries-in-the-world/1/



 

 

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

Hitachi Capital America Establishes Finance subsidiary
in Canada Hitachi Capital Canada Corp.


Effective Today, October 1, Hitachi Capital America Corp. (HCA) has established a wholly owned subsidiary in Canada, Hitachi Capital Canada Corp. (HCC). It will be based in Burlington, Ontario and will initially be targeting the truck transportation market in Canada building on its U.S. relationships with several major truck manufacturers. Hitachi Capital Canada will provide dealer focused retail and floor plan financing. According to Bob Otto, Sr. Vice President & General Manager of HCA’s Automotive Division, “Our U.S. manufacturing relationships are looking forward to Hitachi providing the same level of support for their dealers and customers in Canada as we do in the U.S.”

To facilitate and expedite its efforts in Canada, HCC, with the assistance of Hugh Swandel, the Sr. Managing Director of Alta Group in Canada, has entered into a marketing and servicing agreement with CLE Leasing Enterprise Ltd., based in Quebec and Ontario.

According to William H. Besgen, President of Hitachi Capital America and now also President and CEO of Hitachi Capital Canada, “CLE is an ideal partner for Hitachi to expand in Canada as CLE specializes in providing financing for small and medium sized businesses throughout Canada with in-depth expertise and knowledge of the transportation and used truck markets. CLE can instantly provide the market experience required to support the Hitachi platform for outstanding service capabilities.”

“We are excited to collaborate with Hitachi in order to bring their brand of financial services to Canada” said Luc Robitaille, President of CLE. “We are confident that this move will also help us expand our customer relationships and continue our own growth in Canada by sharing Hitachi’s commitment to service values and jointly growing our market share.”

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

About CLE Leasing
CLE Leasing Enterprise Ltd. is an independent financial institution who understands the reality of the business world. Since its foundation in 1979, CLE has been supporting very small, small and medium businesses as well as the self-employed and owner operators by offering financing solutions that are tailored to their unique requirements. CLE is synonymous with simplicity, speed and efficiency. Its’ staff is both attentive and creative when it comes to finding a personalized solution and supporting brokers, vendors and clients throughout the financing acquisition process.

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

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L.A. CEO Sentenced to 18 Months Imprisonment
For Tax and Mail Fraud in Telemarketing Investment Scheme

Los Angeles- Mark Johnson, 55, founder of Pacific Starr Fleet (PSF) in Los Angeles was sentenced to 18 months imprisonment, three years of supervised release and ordered to pay $179,100 in restitution.

On May 10, 2012, Mark Johnson pleaded guilty to one count each of tax fraud and mail fraud. According to the plea agreement, Johnson was the President and CEO of PSF, a business that claimed to offer private jet charter services to corporate and private customers through a membership purchased through PSF. However, according to court documents, Johnson rented office space and hired telemarketers to solicit investor money. The company did not own any assets, airplanes or hangar space. The company also did not have any customers and no memberships were ever sold.

Between December 28, 2006 and November 17, 2008, Mark Johnson induced more than ten investors to invest in PSF with promises that he knew he could not fulfill. Johnson was aware that telemarketers promised significant returns on investments, such as a 250% in three months and a 400% return in six months.

Johnson admitted that he induced one investor to invest in PSF for $500. In exchange Johnson promised that after PSF was offered for sale publically through an initial public offering (IPO); Johnson would pay the investor $25,000 for a portion of the investor’s shares. The company never went public and only a small portion of the investor funds were used for business expenses, but were used to pay Johnson’s personal expenses instead.

Johnson further admitted that he was advised by an attorney and others knowledgeable about IPOs of the costs and records needed for an IPO. Johnson admitted that he knew that he did not possess the accounting records or the funds for an IPO of Pacific Starr Fleet. The total loss to investors is $179,100.

Johnson also admitted that he failed to collect and pay over taxes for employees and independent contractors of PSF. As part of the agreement, Johnson signed a closing agreement with the IRS, permitting the IRS to assess and collect the total tax due to the IRS for employment taxes between third quarter 2006 through third quarter 2007, totaling $9,563.40.

The investigation of Mark Johnson was conducted by the IRS - Criminal Investigation and Federal Bureau of Investigation and prosecuted by the U.S. Attorney’s Office for the Central District of California in Los Angeles.

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

 

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

 

Send Leasing News to a Colleague. We are free!!!

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Poodle
Louisville, Kentucky Adopt-a-Dog


A476777
Poodle
Small
Adult
Female

Metro Animal Services, Louisville, KY
502-473-PETS (7387)
Animal House Adoption Center
3516 Newburg Road, Louisville, KY 40218
Hours of Operation
Tuesday - Sunday: Noon - 6PM
Wednesday: Noon - 7 PM
Closed Monday and holidays

Petfinder@louisvilleky.gov
http://www.louisvilleky.gov/AnimalServices/adopt_a_pet/adopt_a_pet.htm

 

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

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

 

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Classified ads—Accounting / Aircraft / Appraisals

Leasing Industry Outsourcing
(Providing Services and Products)

Appraisals: Boston, MA
Nationwide appraisals, remarketing, audits, inspections and more! Over 15-years industry experience and dedicated to deliver personal, prompt, professional services. 
Call Chris @ 508-785-1277. Email:chris@dovermanagementgroup.com 

   

Appraisals: National Equipment Appraisal prepares Certified Machinery and Equipment Appraisals. IRS qualified, USPAP Compliant. Nationwide - fast turnaround.
Visit www.nationalequipmentappraisal.com or
call 714-282-1525.”
Accounting: Dallas, TX
Provide cost effective Sales and Use Tax and Property Tax consulting and administration Services to the leasing industry. Many leasing industry referrals available.
E-mail: mattm@osgsolutions.com 
Accounting: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available, (216) 658-5618,
E-mail gary@avptc.com 
  
Aircraft Delivery: Seattle, WA 
Global Aircraft Delivery ferries all types of aircraft all over the world. We are a unique ferry company moving your aircraft with our expert turnkey operation.www.globalaircraftdelivery.com 
E-mail:info@globalaircraftdelivery.com
Asset Management: Canada 
Cease Bailiff Services Incorporated:
Asset Investigation/Tracing; Asset Recoveries; Asset Protection/Security
Asset Liquidations/Sales; Ottawa, Canada;www.ceasebailiff.ca dave@ceasebailiff.ca; Phone 613 898 7376 ; Fax 613 225 2452

Asset/Recovery & Collections:
Charlotte, NC
IRTC Continencies: Commercial Collections-Skip Trace- Repossessions-judgment enforcement-Investigations- Asset Re-marketing& No Cost Warehousing East Coast USA. Call 336-877-3077 ask for Robert or
E-mail to Robert@mbsfinancial.com

Nationwide Seasoned anfair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals.  Call Nassau Asset Management800-462-7728   dcastagna@nasset.com  

Asset/Recovery: NorthWest 
Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contactrossr@sequentam.com
Asset Marketing/Recovery: Remarking solutions for big rigs assets and trucking related companies including collections, recovery, repair and re-sales. North South Leasing cell # 586-909-8797bob@nsleasing.com
Appraisals/Asset Recovery
Melville, New York
Auctions, Appraisals, National Repossessions.  ALL asset classes. 20+ year team works for you. Spend less, Net More… Fast!
Ed Castagna 516-229-1968ecastagna@inplaceauction.com
 

 

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm


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News Briefs----

 

Why US economy is flashing conflicting signals
http://seattletimes.com/html/businesstechnology/2019304959_apuseconomy.html

Building Starbucks one store at a time
http://seattletimes.com/html/businesstechnology/2019282603_starbuckscliffburrowsxml.html

At 68, Oracle's flamboyant, multibillionaire CEO Larry Ellison still going strong
http://www.mercurynews.com/business/ci_21662062/at-68-oracles-flamboyant-multibillionaire-ceo-larry-ellison

Five Guys voted favorite burger chain, McDonald's near bottom
http://www.latimes.com/business/money/la-fi-mo-five-guys-burger-mcdonalds-20120918,0,2348963.story


 

[headlines]
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You May Have Missed---

12 Celebrity Real Estate Foreclosures
http://www.forbes.com/pictures/mhj45jfke/celebrity-foreclosures/#gallerycontent





[headlines]

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SparkPeople--Live Healthier and Longer


SparkPeople--Live Healthier and Longer

Thinking Outside the Lunch Box
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=500



[headlines]

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Sports Briefs----


49ers trounce Jets, 34-0
http://www.pressdemocrat.com/article/20120930/WIRE/120939991/1350?Title=49ers-trounce-Jets-34-0

A great escape shows us how special these Falcons can be
http://blogs.ajc.com/mark-bradley-blog/2012/09/30/a-great-escape-shows-us-how-special-these-falcons-can-be/?cxntfid=blogs_mark_bradley_blog

Despite calls for Tim Tebow, Jets coach Rex Ryan not ready to bench Mark Sanchez
http://sports.yahoo.com/ne

Chargers take big steps forward in smashing Chiefs
http://www.utsandiego.com/news/2012/sep/30/live-chargers-updates-san-diego-and-kansas-city-ha/

Redskins vs. Buccaneers: After blowing an 18-point lead, Washington wins with late field goal, 24-22
http://www.washingtonpost.com/sports/redskins/redskins-vs-bucs-washington-pulls-out-a-win-on-billy-cundiffs-41-yard-fg/2012/09/30/dfa2e2b2-0b44-11e2-bd1a-b868e65d57eb_story.html

Oakland Raiders get pummeled by Manning, Broncos
http://www.mercurynews.com/raiders/ci_21667915/oakland-raiders-get-pummeled-by-manning-broncos

Golf Europe stuns U.S. with wild comeback in Ryder Cup
http://www.chicagotribune.com/sports/golf/ct-spt-1001-ryder-cup--20121001,0,2157998.story

 

John Kenny Receivables Management

• End of Lease Negotiations & Enforcement• Fraud Investigations
• Credit Investigations • Asset Searches 
• Skip-tracing • Third-party Commercial Collections

john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

 

[headlines]
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Baseball Poem

 God Protects Fools with Curveballs

Going after her
Was chasing
A bad pitch,
A sharp curve
That tailed off
Into the dirt,
Evaded the end
Of my whirling bat.
Thank goodness
I only looked stupid
On the first strike.

Tim Peeler, Poet

from " Touching the Bases"

These come from a soft cover 128 pages
with index published by www.mcfarlandpub.com
He is a unique American poet.
He lives in Hickory, North Carolina


[headlines]
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California Nuts Briefs---

 

Gov. Jerry Brown signs 65 bills into law but vetoes redevelopment proposals
http://www.mercurynews.com/california-budget/ci_21664026/gov-jerry-brown-signs-65-bills-into-law

Esalen Institute turns 50 this year
http://www.sfgate.com/living/article/Esalen-Institute-turns-50-this-year-3906021.php

Ballot Watch: Labeling genetically engineered foods
http://www.sacbee.com/2012/09/30/4867250/ballot-watch-labeling-genetically.html




[headlines]
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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

California wine industry strong despite grape, labor shortages
http://westernfarmpress.com/grapes/california-wine-industry-strong-despite-grape-labor-shortages

Napa Vintners Video Update on Harvest 2012
http://napavintners.com/trade/tm_3_release_detail.asp?ID_News=3621038

Lower-End Bordeaux Rises to the Occasion
http://www.nytimes.com/2012/10/03/dining/reviews/wines-of-the-times-bordeaux-at-reasonable-prices-is-a-possibility.html?ref=dining

Mount Veeder wines claim their place in the sun
http://napavalleyregister.com/lifestyles/food-and-cooking/wine/columnists/pierce-carson/mount-veeder-wines-claim-their-place-in-the-sun/article_11b2e8f0-0907-11e2-a044-0019bb2963f4.html

 

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

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

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

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

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

[headlines]
----------------------------------------------------------------

This Day in History

      1608- A glass factory was established in Jamestown, VA. Eight German and Polish mechanics were imported to start the new industry.  Among the factory's products were glass beads for use in trade with the Native Americans.  The factory remained in operation spasmodically for about seven years and was then disbanded, owing chiefly to the fact that the workers found it more profitable to grow tobacco for shipment to England. It appears Europe had never chewed,snuff, smoked in a pipe, paper, or tobacco wrapper before. They quickly became quite addicted to the import from the colonies. The London Company later sent Captain William Norton, accompanied by four Italians and two servants, to revive the Jamestown glass factory, which resumed operations on July 25,1621. The massacre of the colonists by Native Americans in 1622 put an end to it.
    1768--English troops under General Gage landed in Boston. Soldiers drawn chiefly from the 14th and 29th Infantry Regiments, and numbering about 700 men, landed at Boston without opposition. 
    1781-Birthdday of James Lawrence, brilliant American naval officer, whose last battle was a defeat, but whose dying words became a most honored naval motto. Lawrence, born at Burlington, NJ, was captain of the Chesapeake when she engaged in a naval duel with HMS Shannon off Boston, June 1, 1813. The Chesapeake was captured and towed to Halifax, as a British prize. Lawrence was mortally wounded by a musket ball during the engagement and uttered his famous last words, “Don't give up the ship,” as he was being carried of the ship's deck.
    1800 - The territory of Louisiana, encompassing the entire region of the Mississippi-Missouri river valleys, was ceded by Spain to France in the secret treaty of San Ildefonso. France envisioned a great French empire in the New World, and it hoped to use the Mississippi Valley as a major food and trade center. In 1803, economic and political problems forced France to sell the territory to the United States.
    1861-The first Union ship captured in the Civil War was the U.S.S. Fanny, an Army stream tug that grounded on a shoal in Pamilico Sound, NC, while it was en route to Chicomacomica, the encampment of the 20th Indiana Regiment. The pilot and deckhand escaped by swimming ashore, but the ship was captured by Confederate naval forces. Also captured were the Raleigh, a small iron-hull propeller-driven towing steam, the Jualuska, a vessel of 79 tons, and the Culew, 260 tons.
http://www.amazon.com/exec/obidos/ASIN/0533017181/
inktomi-bkasin-20/104-5278168-8037550
    1864- Rose O'Neal Greenhow drowned when her small open boat overturned while attempting to run the blockade of the harbor of Wilmington, North Carolina. Her clothes were weighed down with gold coins she was attempting to smuggle into the cash-poor South. Before her death, she was a spy for the confederacy and had been imprisoned by the Union secret service. After being released, she traveled to Europe to aid the Confederacy by collecting funds. It was those funds, sewn into her clothes, that caused her death. A monument in Wilmington commemorates her accomplishments as well as a marker in the marvelous historical district of that city.
http://www.americancivilwar.com/women/greenhow.html
http://search.eb.com/women/pri/Q00176.html
http://www.npg.si.edu/exh/brady/gallery/51gal.html
http://www.womenshistory.about.com/library/bio/blbio_rose_greenhow.htm
http://www.sameshield.com/spies/greenhow.html
http://www.ohwy.com/nc/o/oakdacem.htm
“Oakdale Cemetery 520 N. 15th St., Wilmington When Nance Martin died at sea in 1857, her body was preserved, seated in a chair, in a large cask of rum. Six months later she was interred at Oakdale Cemetery, cask and all. Her monument and many other curious, beautiful and historic markers are to be found within the labyrinth of Oakdale Cemetery, Wilmington's first municipal burial ground, opened in 1855. At the cemetery office, you can pick up a free map detailing some of the more interesting interments, such as the volunteer firefighter buried with the faithful dog that gave its life trying to save his master, and Mrs. Rose O'Neal Greenhow, a Confederate courier who drowned while running the blockade at Fort Fisher in 1864. Amid the profusion of monuments lies a field oddly lacking in markers-the mass grave of hundreds of victims of the 1862 yellow fever epidemic. The architecture of Oakdale's monuments, its Victorian landscaping and the abundance of dogwood trees, make Oakdale beautiful in every season. The cemetery is open until 5 PM every day. Bicycles are not permitted.”
    1867-Morgan State College Founded in Maryland.
    1880 - A new director of the United States Marine Corps Band was named. John Philip Sousa became the band's 17th leader. In 1888 he composed "Semper Fidelis", traditionally known as the official march of the Marine Corps.
    1883 -American churchman A. B. Simpson founded the first school in America to train missionaries, in New York City. Called the Missionary Training Institute in 1894, its name was changed to Nyack College in 1972. 
    1884- the first baseball championship was played at the Polo Grounds, New York City. The Providence Grays defeated the New York Metropolitans three games to one.
    1889 -Birth of Ralph W. Sockman, American scholar and devotional writer. His best-remembered poem begins: "I met God in the morning, when my day was at its best...."
    1890-Yosemite Valley and Mariposa Big Tree Grove, granted to the State of California June 30, 1864, were combined and established as a national park.
    1892-The university of Chicago opened with an enrollment of 594 and a faculty of 103, including eight former college presidents.
    1893-Birthday of singer Kid Sox Wilson, Jacksonville, FL.
    1893 - The second great hurricane of the 1893 season hit the Mississippi Delta Region drowning more than 1000 persons.
    1896-Rural Free delivery mail was established.
    1896- the first all-fiction pulp magazine was the Argosy, 1092 pages, 7 by 10 inches. It was published in New York City, starting a craze of such magazines.
    1903-The First Modern World Series Game: The Pittsburgh Pirates defeated the Boston Pilgrims ( later the Red Sox ), 7-2, in the first game of the 1903 World Series, the first postseason series matching the champions of the National League and the American League. Jimmy Sebring of Pittsburgh hit the first World Series home run. Deacon Phillippe was the winning pitcher. Cy Young the loser.
( bottom half of:http://memory.loc.gov/ammem/today/oct01.html )
    1904-Bulk mail was authorized by Congress on April 28, 1904, and went into use this day. It permitted 2,000 or more identical pieces of third-class or fourth-class mail to be mailed without stamps, affixed, in exchange for a fee. The denomination of the postage, the place of mailing, and the permit issued by the post office for the mailing was printed in place of the stamp.
    1905 - The Julliard School of Music was founded in New York City.
    1908-Ford introduced the Motel T at a price of $850 but by 1924 the basic model sold for as little as $260. Between 1908 and 1924 Ford sold 15,007,033 Model Ts in the US. Although the first Model Ts were not built on an assembly line, the demand for the cards was so high that Ford developed a system where workers remained at their stations and cars came to them. This enabled Ford to turn out a Motel T every 10 seconds.
    1913-The first monument to a bird was unveiled at Salt Lake City, UT. It was designed by Mahonri Young, a grandson of Brigham Young, to commemorate the sea gulls from the great Salt Lake that attacked a devouring horde of black crickets, or grasshoppers, that were destroying the wheat fields of the Mormon settlers in May, 1848. 
    1918--THOMPSON, JOSEPH H. Medal of Honor
Rank and organization: Major, U.S. Army, 110th Infantry, 28th Division. Place and date: Near Apremont, France, 1 October 1918. Entered service at: Beaver Falls, Pa. Born: 26 September 1871, Kilkeel, County Down, Ireland. G.O. No.: 21, W.D., 1925. Citation: Counterattacked by 2 regiments of the enemy, Maj. Thompson encouraged his battalion in the front line of constantly braving the hazardous fire of machineguns and artillery. His courage was mainly responsible for the heavy repulse of the enemy. Later in the action, when the advance of his assaulting companies was held up by fire from a hostile machinegun nest and all but 1 of the 6 assaulting tanks were disabled, Maj. Thompson, with great gallantry and coolness, rushed forward on foot 3 separate times in advance of the assaulting line, under heavy machinegun and antitank-gun fire, and led the 1 remaining tank to within a few yards of the enemy machinegun nest, which succeeded in reducing it, thereby making it possible for the infantry to advance. 
    1920-Birthday of guitarist/harmonica player Johnny “ Blind” Brown, Montgomery, AL.
    1921- Margaret Hillis birthday - One of this nation's most distinguished conductors .
   * received Master's degree in choral conducting from Juilliard School of Music (1949),
   * Robert Shaw's assistant for two years,
   * resident conductor of the Chicago Civic orchestra,
   * formed the American Concert and American Concert Orchestra in 1950,
   * founded and became music director of the American Choral Foundation in 1954,
   * appointed chorus director of the Chicago Symphony in 1957,
   * appointed chorus director of the Cleveland Symphony in 1969.
   She also created, organized and conducted the Chicago Symphony Chorus and the Elgin (Illinois) Symphony Orchestra, was resident conductor of the Civic Orchestra of Chicago, and chaired the Department of Choral Activities at Northwestern University. In 1977 she subbed for an ailing George Solti to conduct Mahler's monumental Eighth Symphony which has 400 musicians and singers. She got rave reviews - but was sent back to the chorus podium.    Hillis won a Grammy award for "the best choral performance of 1977" for the Verdi Requiem with Solti conducting, and again in 1978 for the Beethoven Missa Solemnis.   From early childhood in Kokomo, Indiana, she accompanied her mother to travel to concerts, sometimes 16 in two weeks. Her grandmother had a full pipe organ in her living room (pipes in the basement). Shedied in February 6, 1998.
http://centerstage.net/music/whoswho/MargaretHillis.html
http://www.amazon.com/exec/obidos/tg/detail/-/B00004SCXS/
103-5362656-4423850?v=glance#product-details
    1924- birthday of Jimmy Carter, thirty-ninth US President (1977-81).
    1928 - Duke Ellington recorded "The Mooche" on the Okeh label.
    1928 - "Forever", by Ben Pollack and his band, was recorded on Victor Records. In Pollack's band were two talented young musicians: Benny Goodman and Jack Teagarden,
    1932- Babe Ruth, In the fifth inning of game three of the World Series, with a count of two balls and two strikes and with hostile Cubs fans shouting epithets at him, Babe Ruth pointed to the center field bleachers in Chicago's Wrigley Field and followed up by hitting a soaring home run high above the very spot to which he had just gestured. With that homer Ruth squashed the Chicago Cubs' hopes of win­ning the game, and the Yankees went on to sweep the Series with four straight victories. For more than half a century the question has remained: Did Ruth actually call his shot that day? Even eye­witnesses disagree. Joe Williams of The New York Times wrote, “In no mistaken motions, the Babe notified the crowd that the nature of his retaliation would be a wallop right out of the con­fines of the park.” But Cubs pitcher Charlie Root said, “Ruth did not point at the fence before he swung. If he'd made a gesture like that, I'd have put one in his ear and knocked him on his ass.” Ruth's daughter has said that he denied it. But the Babe himself also claimed he had. Fact or folklore? Either way, legend!
    1932-Birthday of guitarist Albert Collins, Leona, TX.
    1933- Babe Ruth had pitched only once in 12 years when he took the mound for the New York Yankees in their final game of the season. Ruth hurled all nine innings, hit a home run in the fifth and beat his original team, the Boston Red Sox, 6-5. It was a fitting finish to his 20th season in the majors: because this turned out to be his last pitching appearance, his 1-0 record in 1933 meant that Ruth never had a losing season as a pitcher.
    1935-Birthday of Ulie Andrews ( Julia Wells, singer, actress, born Walton-on' Thames, England.
    1935-Benny Goodman Band closes at Palomar, LA, after launching big band era with its August 21st opening.
    1935-Birthday of singer Ann Richards , wife of band leader Stan Kenton.
    1936-Birthday of harmonica player George “Wild Child” Collins, Autaugaville, AL.
    1940-Birthday of accordion player Marc Savoy, Eunice, LA
    1942--Birthday of Herb Fame (Peaches and Herb) 
    1942- The first jet airplane designed and built in the United was the XP-59, an Airacomet, built by the Bell Aircraft Corporation, Buffalo, NY, and flown for the first time at a secret testing base in Muroc, CA, by Robert Morris Stanley. It was rated over 400 miles per hour and in excess of 40,000 feet. The higher the latitude ( up to a certain maximum,) the faster it flew. It employed two turbojet engines built by the General Electric Company from designs made by Group Captain Frank Whittle, the British inventor. The fuel was generally kerosene, although anything that burned could be used as a substitute. There was no propeller
    1944 - Emil “Dutch” Leonard defeated the Detroit Tigers, 4-1, to pitch the St. Louis Browns to the only American League Pennant in their history. The Browns went on to lose the World Series to the St. Louis Cardinals, four games to two.
    1946 -- American novelist and short story writer Judith Freeman lives, Ogden, Utah. Her first novel, The Chinchilla Farm (1989), is a road novel about a Mormon woman who packs all of her belongings into a livestock trailer and heads for L.A. after her husband walks out.
    1947-On this day the first residents moved into what would become Levittown at Long Island, NY. The community developed by William Levitt and his brother Alfred with their father Abraham started as affordable rental houses bu lt for returning World War II veterans. In 1948 the Levitts began to sell the 800-square-foot homes for under $8,000. By 1951, when the first community was finished, the Levitts had built 17,447 mass-produced Cape Code and ranch homes. In 1952, they started construction of a new Levitttown in Bucks County, PA, where they built another 17,000 houses, and beginning in 1958, they build another 12,000 homes in Wilingboro, NU.
    1951- the first commercially made transistor was produced by the Western Electric Company, Allentown, PA, for long-distance dialing equipment of the Bell Telephone System.
    1952- “This is Your Life” premiered on TV. Ralph Edwards hosted this program that lured unsuspecting guests on the show and surprised them by detailing their lives and achievements with their family and friends. It began as a radio show in 1948. 1957 - U.S. B-52 bombers in the Strategic Air Command went on 24-hour alert status because of the perceived threat of an attack from the Soviet Union.
    1955- "Honeymooners" premieres on TV. Originally a skit on the “Jackie Gleason”, Ralph Kramden ( Jackie Gleason), bus driver, Ed Norton (Art Carney), sewer worker, Alice Kramden (Audrey Meadows), Ralph's wife, and Trixie Norton ( Joyce Randolph), Ed's wife had a two year run (39) episodes that are still re-running on TV today. There was little rehearsal--Gleason liked it that way--and there were no second takes--the show went out live. The sets were painted cardboard (with the only apartment doors in the world that opened out instead of in). And nobody imagined this short run series of half-hour episodes would rerun continuously somewhere on TV for the next 50 years They are on video today, including the four lost episodes.
http://www.fiftiesweb.com/honeymnr.htm
http://members.aol.com/mark916/
    1955- In Game 4 of the World Series at Ebbets Field, the Dodgers defeat the Yanks, 8-5.
    1956-- When test audiences are horrified at Elvis' character dying in the original ending of Elvis' first film, Love Me Tender, the ending is quickly rewritten and Elvis called back to reshoot.
    1956-- Little Anthony and the Imperials record Neil Sedaka's "The Diary," and the results so displease the songwriter that he decides to record it himself, resulting in his first chart hit. 
    1957---Top Hits
Wake Up Little Susie - The Everly Brothers
Honeycomb - Jimmie Rodgers
Chances Are/The Twelfth of Never - Johnny Mathis
My Shoes Keep Walking Back to You - Ray Price
    1958 - The novel, The Ugly American, by William Lederer and Eugene Burdick, was published on this date in New York. The novel was later made into a movie, which starred Marlon Brando.
    1961- Roger Maris of the New York Yankees hit his 61st home run, breaking Babe Ruth's record for most home runs in a season. Maris hit his homer against Pitcher Tracy Stallard of the Boston Red Sox as the Yankees won 1-0. Controversy over the record arose because the American League had adopted a 162-game schedule in 1961 and Maris played in 161.  In 1927, when Ruth set his record, the schedule called for 154 games and Ruth played in 151. On the this date, exactly two years later, a baby named Mark McGwire will be born.  On September 8, 1998, Mark McGuire of the St. Louis Cardinals hit his 62nd home run, breaking Maris' record.          http://memory.loc.gov/ammem/today/oct01.html
box score James Meredith became the University of Mississippi's first black student after 3,000 troops put down riots, completing the registration he began yesterday.
    1961--Bob Dylan appears at Carnegie Hall in New York and introduces his new touring band made up of guitarist Robbie Robertson, organist Garth Hudson, bassist Rick Danko, pianist Richard Manual and drummer Levon Helm. They will become known simply as The Band. 
1962-Brian Epstein signs his management contract with The Beatles. John Lennon and Ringo Starr signed for themselves and Harold Harrison and James McCartney do so on behalf of their underage sons. The agreement gave Epstein a 25% cut of the group's earnings, provided that they made more than $400 each per week.
    1962-Brian Epstein signs his management contract with The Beatles. John Lennon and Ringo Starr signed for themselves and Harold Harrison and James McCartney do so on behalf of their underage sons. The agreement gave Epstein a 25% cut of the group's earnings, provided that they made more than $400 each per week.
    1962 - “From New York ... heeeeeeeeeere's Johnny!” Ed McMahon introduced the new host of NBC's "Tonight Show" for the first time. Johnny Carson entertained late-night America for nearly three decades. His first guest was Barbara Stanwick.
    1962- Barbra Streisand signs her first recording contract (with Columbia)
http://www.bjsmusic.com/
    1962-“The Merv Griffin Show” premiered on TV. Singer and game show king Merv Griffin's first effort as an afternoon talk-show-host premiered on NBC but was later dropped for syndication. The afternoon show continued until 1969 when Griffin was tapped to host a late-night program on CBS to complete with “The Tonight Show” with Johnny Carson.
    1963-Birthday of baseball player Mark McGuire, Pomona, CA.
    1964 -- Police attempt to arrest University of California-Berkeley math grad student Jack Weinberg for passing out literature for the Congress Of Racial Equality (CORE) in Sproul Plaza — inadvertently starting the Free Speech Movement (FSM). Police car is surrounded by demonstrating students for 32 hours. Mario Savio and Joan Baez involved; early September: Clark Kerr bans all politicking outside UC's main gate; late Sept: Kerr suspends 8 students for political activities. I covered this for KFRC, free lancing for UPI, among others. Weinberg is best known for the phrase:
"Don't trust anyone over thirty."
    1965-Bob Dylan appears at Carnegie Hall in New York and introduces his new touring band made up of guitarist Robbie Robertson, organist Garth Hudson, bassist Rick Danko, pianist Richard Manual and drummer Levon Helm. They will become known simply as The Band. 
    1965---Top Hits
Eve of Destruction - Barry McGuire
Hang on Sloopy - The McCoys
You Were on My Mind - We Five
Is It Really Over? - Jim Reeves
    1971- Disney's second theme park opened at Orlando, FL.
The opening was planned for October when the crowds were slower. Disney planners wanted everything to move slowly at first, so any problems that sprang up could be fixed with minimal guest inconvenience. The dedication of the park was held on October 25, 1971. Roy O. Disney stood with Mickey Mouse in Town Square and read the dedication plaque: “Walt Disney World is a tribute to the philosophy and life of Walter Elias Disney . . . and to the talents, the dedication, and the loyalty of the entire Disney organization that made Walt Disney's dream come true. May Walt Disney World bring Joy and Inspiration and New Knowledge to all who come to this happy place . . . a Magic Kingdom where the young at heart of all ages can laugh, and play, and learn - together.” Walt Disney World eventually became the world's largest, man-made, tourist attraction.
    1972-“Kung Fu” premiere on television. David Carradine starred in this unusual ABC western as Kwai Chang Caine, a half-Chinese marital arts master drifter who was exiled from China. Appearing in flashback were Keye Luke as Master Po, Philip Ahn as Master Kan and Radaman Pera as the younger Caine. The show ran for three years. “Kung Fu” returned in a 1986 TV movie introducing the late Brandon Lee as Caine's son. A sequel series currently appears in syndication staring a much older Carradine.
    1973- In the first game of a scheduled make-up double-header at Wrigley Field, a day after the regular season ends, the Mets beat the Cubs, 6-1,to capture National League East flag. The Miracle Mets, who were 11 and half games behind and in last place on August 5, by winning its 82nd game, (the lowest number victories ever to win a title) clinch the division making the second game of the twin bill unnecessary to play.
    1973---Top Hits
We're an American Band - Grand Funk
Half-Breed - Cher
Loves Me like a Rock - Paul Simon
Blood Red and Goin' Down - Tanya Tucker
    1975- Muhammad Ali scored a 15-th round TKO against Joe Frazier to retain the heavyweight championship in a fight billed as the “Thriller in Manila.”
    1977- Pele, generally considered the greatest soccer player ever, played the last game of his career before 75,646 fans at Giants Stadium. Pele played the first half for the New York Cosmos and the second for Santos of Brazil, his original team.
    1977- the first member of the American Revolution who was African-American was Karen Batchelor Farmer of Detroit, MI, who became the 623,128th member of the Daughters of the American Revolution. She traced her ancestry to William Hood, who served in the militia of Lancaster, PA, during the Revolutionary War.
    1977--Not only was Star Wars a hit at the movie box office, "The Star Wars Theme" by Meco was the best selling single in the US. 
    1978--Exile achieved their only number one song on Billboard's Pop chart with "Kiss You All Over", a #6 hit in the UK. After a couple of other minor hits, the band would switch styles and would top the Country and Western chart in 1984 with "Woke Up In Love".. 
    1979-The first Pope to visit the White House in Washington, DC, was Pope John Paul II, who flew across the Atlantic in the Shepherd I, landing in Boston, MA. In six days, he visited Boston, New York, Philadelphia, Urbandale, IA, Chicago and Washington. He returned to Rome from Andrews Air Force Base, near Washington, ON October 6.
    1979- Elton John plays the first of eight straight shows at Madison Square Garden.
    1980-Paul Simon's film One Trick Pony opens in US movie theatres where it will enjoy only modest success and mixed reviews. 
    1980 -With much media and fan pressure Red Sox fire manager Don Zimmer.
    1980 - "Ladies' Home Journal" startled readers. Robert Redford became the first male to appear alone on the cover. It had taken 97 years for the magazine to change its no-men-on-the-cover policy.
    1980- Paul Simon's semi-autobiographical film "One Trick Pony" premieres in New York City. Besides Simon, those appearing the film include Lou Reed, Sam & Dave, the B-52's and the Lovin' Spoonful.
    1981---Top Hits
Endless Love - Diana Ross & Lionel Richie
Queen of Hearts - Juice Newton
Stop Draggin' My Heart Around - Stevie Nicks with Tom Petty & The
Heartbreakers
Tight Fittin' Jeans - Conway Twitty
    1982-The first compact disc player, developed jointly by Sony, Phillips and Polygram, went on sale. It cost $625 ( more than $1,000 in current dollars ).
    1982- Remington Steele” premiers on TV. Laura Holt (played by Stephanie Zimbal­ist, daughter of Efrem Zimbalist, Jr), an imaginative private detective, could not get a case of her own—until she made up a partner, Remington Steele, who was conveniently out of the office when clients came-a-calling. Then she met the suave stranger (Pierce Brosnan) with a foreign accent who called himself Rem­ington Steele. They began a working partnership.., which ended in marriage. The show aired on NBC for five years, with the last telecast on Mar 9, 1987, and costarred James Read, Janet DeMay and Doris Roberts
    1983 - Bonnie Tyler's "Total Eclipse of the Heart" began a four-week run as the number one single in the U.S. The song, from her "Faster Than the Speed of Night" album, ran 5 minutes, 36 seconds and it took a day or two to get out of your head after you listened to it...
    1987 - An earthquake in Los Angeles (eleven miles southeast of Pasadena) killed eight people and injured 200. The quake caused $358 million in property damage and measured 5.9 on the Richter scale.
    1987- - A blast of cold arctic air hit the north central U.S. An afternoon thunderstorm slickened the streets of Duluth MN with hail and snow, and later in the afternoon, strong northerly winds reached 70 mph. Unseasonably warm weather continued in the Pacific northwest. Afternoon highs of 90 degrees at Olympia WA, 92 degrees at Portland OR, and 89 degrees at Seattle WA, were records for the month of October. For Seattle WA it marked the twenty- first daily record high for the year, a record total in itself.
    1989---Top Hits
Girl I'm Gonna Miss You - Milli Vanilli
Heaven - Warrant
If I Could Turn Back Time - Cher
Let Me Tell You About Love - The Judds
    1989- Thunderstorms produced severe weather in the southeastern U.S. through the daytime and evening hours. Severe thunderstorms spawned eleven tornadoes, with seven of those tornadoes in Georgia. A tornado southwest of Moultrie, GA, killed two persons and injured a dozen others. Tornadoes also injured one person north of Graceville, FL, and two persons at Bartow, GA
    1990--Forbes magazine lists New Kids On The Block as earning $78 million dollars in the last year, making them the fifth richest entertainers in the US 
    1990- President George H. Bush at the United Nations in New York City condemns Iraq's takeover of Kuwait, seeks support from the United Nations. Even though he was the former US Ambassador to the UN and knew the “system, “ it took him almost six months to get support after August 2, when the Iraqi armed forces invaded Kuwait and overran it in a matter of hours. We sent troops to Saudi Arabia on August 7, started a Naval Blockage on August 9. August 10, at a meeting in Cairo, 12 of the 21 member nations of the Arab League voted to support the UN and U.S. action. By November 8, some 230,000 American troops were in Saudi Arabia and President Bush announced that 150,000more would be sent. The UN Security Council on November 29 voted to authorize the US and its allies to use force to expel Iraq from Kuwait if its troops did not leave by January 15, 1991. By the end of 1990, 580,000 Iraqi troops were believed to be in Kuwait or southern Iraq. Facing them were 485,000 troops of 17 allied countries, with many skirmishes, while Iraq exterminated tribes, took overland, ransacked the country, and eventually set fire to the oil wells, disregarding all UN sanctions and the alliance of Arab nations supporting his ouster of Kuwait and other areas he claimed as now belonging to him.
    1993 - The hauntingly beautiful "I Know I Got Skill", by Shaquille O'Neal, was released. Just a sample: “...I'm big like Gorilla, 6-7, large, I kick rhymes like moduck-kwong you, I smoke-smoke the mic-mic, I Cheech and Chong you, you don't like Shaq, frankly I don't give a damn, I know I got skills man, I know I got skills man...”
    1994 - Eric Clapton's album "From the Cradle" was number one in the U.S. The rest of the top five for the week: "II" (Boyz II Men); "Rhythm of Love" (Anita Baker); "The Lion King" (soundtrack); "Dookie" (Green Day).
    1995- The Yankees and Rockies become first wild-card teams in new major league baseball playoff system.
    1995 -- Willie Nelson, John Mellencamp, Neil Young, Hootie & The Blowfish & The Dave Matthews Band raise nearly $1 million at Farm Aid concert in Louisville, Ky.
    1996 - Theodore Kaczynski was charged by a U.S. federal grand jury with mailing a bomb that killed advertising executive Thomas Mosser in 1994. Kaczynski, known as the Unabomber, pleaded guilty in January 1998 to mail bombings that killed three people and injured 23. He was sentenced in July 1997 to life without possibility of parole by a federal court in Sacramento, California.
    2009-Michael Jackson's autopsy revealed that the 136 pound, 5-foot-9 singer was in good health before his death and not the sickly skeleton of a man portrayed by the tabloids. Although he had some arthritis and lung damage, his heart was strong for a 50-year-old and none of those health issues were life-threatening. 
    2009 -- Tony La Russa moves past John McGraw into second place for the most games managed in major league history. With his 4,770 contests as a manager, the Cardinal skipper now only trails Connie Mack, who amasses a total of 7755 during his 53 years in the dugout.

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