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

Friday, October 19, 2012

Today's Equipment Leasing Headlines

Archives---October 19, 2000
  51 Leasing Companies Major Changes
   Classified Ads---Legal
 Cassiopae joins Leasing Software Companies List
  Classified Ads---Help Wanted
    New Hires---Promotions
Funding Source Gets Burned by Inadequate Collateral
 Description in One Case/But Survives Attack in Another
  By Tom McCurnin and Frank Peretore
   Cartoon---Wants to plead Insanity
    ---Registration Available at ELFA Site----
     Leasing Association 2012 Conferences – Updates
      Latin America Leasing Industry Declines,
       Despite Growth in Several Countries
        Latin America Leasing Conference Nov. 8-9 in Miami
         To Help Companies Create Value in New Era of Business
      CSI Leasing Expands in Asia
       Labrador Retriever
        Burlington, Iowa Adopt-a-Dog
   Special Halloween DVD Edition, Part 1
    The Haunting/Its the Great Pumpkin, Charlie Brown
     --The Exorcist, The Shining -- by Fernando Croce
News Briefs---
 KeyCorp posts flat third-quarter net income
  CIT Video on "What is Vendor Financing"
   Low rates encourage shorter mortgages
    Capital One 3rd-Quarter Net Up 44% on Acquisitions/Revenue
     Google, Samsung to sell Chrome laptop for $249
       Santa Clara chipmaker Marvell cuts revenue estimate,
        --- CFO departs; stock sinks
   PC waiting game pinches Microsoft results
    GM to hire 3,000 workers from Hewlett-Packard
     Hertz delays closing on Dollar Thrifty deal
      Why Las Vegas Biz off
        --MGM China Wins Approval for 2nd Macau Casino

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
           Daily Puzzle
               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.

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Archives---October 19, 2000

51 Leasing Companies Major Changes

American Business Leasing (gone)
Balboa Capital (Founder Byrne " available any time he wants to use it”).
The Bancorp Group, Inc. (Southfield, MI) (no longer in business)
Bankvest (bankrupt)
Bombadier (reported having problems, not confirmed)
Charter Financial (purchased by Wells Fargo 9/5/2000)
Charter One (10/2000 $1.8 million leasing loss in third quarter)
Colonial Pacific (11/98) purchased by GE Capital Commerce Security (9/99 closed to leasing broker program) (11/99 last fundings)
Copelco (4/2000 sold to Citibank)
Creative Capital" of Bloomfield Hills, MI. (shut-down 3/2000)
Dana (sold off, active as captive)
DVI Capital (out of broker)
El Camino Leasing, Woodland Hills, California (10/2000 No longer taking
broker business)
eLease (June/July/2000 senior management changes)
FMA Finance (reportedly closed to brokers)
Fidelity (4/2000 acquired by EAB, a wholly owned subsidiary of ABN AMRO Bank N.V., headquartered in the Netherlands, raising funds)
Finova (out of market place) (10/11/2000 Dow Jones headlines "Finova Stock Falls as Buyout Hopes Wane) Franklin Bank (no more leases)
Golden Gate Funding (2/99 purchased by Westover Financial) Heller Financial's Commercial Services Unit (10/99 purchased by CIT)
Imperial (sold portfolio) Irwin Financial (10/2000 "pre-tax loss of $0.6 million during the third quarter." Japan Leasing Credit claims (JLC --6/99 purchased by Orix)
Lease Acceptance Corp--- (ceases broker business 7/26/2000) Leasing Solutions (bankrupt) Liberty Leasing (closed, California company)
Linc Capital (out of vendor and broker business, NASDAQ halts stock sales, $13.4 loss last quarter)
Lyon Credit Corporation (9/99 purchased by Hudson United Bancorp)
Manifest Group--(9/1/2000 purchased by US Bancorp Leasing and Financial, "...a win for all the parties involved," Brian Bjella.
Matsco Financial (purchased by Greater Bay Bank)
Merit Leasing (gone)
Metwest Leasing, Spokane, WA. (6/2000 advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding.)
Metrolease-- 5/2000 reports closing operation, John Blazek at Evergreen Leasing, Hathcock losing assets, will not confirm nor deny; many serious rumors of fraud floating around the marketplace, confirmed off the record.)
NationsCredit, Business Leasing Group (1/29/99 sold to Textron**) *"The Business Leasing Group of Nations Credit was sold to Textron and we still do broker business," Jim Merrilees.
NIA National Leasing (3/2000 purchased by Lakeland Bancorp)
New England Capital (sold to Network Capital Alliance a division of Sovereign Bank. Sovereign did hire two people who will run a sales office in CT, doing basically the same deals with the same people as before. Little will change in that aspect.
Newcourt (sold off)
Onset Capital (Irwin buys 87% equity)
Orix 10/2000 "long-term Outlook has been revised from Stable to Negative" Credit Alliance has changed its name to ORIX Financial Services, 9/2000 Japanese Bank President Commits Suicide (Orix is a 14.7% shareholder in bank having problems), (8/2000 closes small ticket vendor division in Portland, Oregon, "Business as usual (in New Jersey and with brokers)," says Steve Geller)
Phoenix (5/2000 both divisions closed, 10/2000 pres. joins Pentech Financial, Campbell, CA.)
Prime Capital (2/2000 purchased by Finatra Capital)
Republic Leasing, South Carolina 9/27/2000 (“The expected result will be a sale of Republic Leasing"---Dwight Galloway)
Rockford (sold to American Express)
Scripp Financial (6/29/2000 (purchased by US Bancorp)
SDI (closed to broker programs)
SFC Capital (9/15/2000 purchased by Trinity Capital)
SierraCities (post $7.7 million second quarter loss, rumors abound, including pending sale. Second Leasing News Report "addendum" on hold until announcement, maybe by Oct.19, stock problems from inside employ week of Oct 16/lot of venom posted on Yahoo bulletin board ) addendum to Special Report on hold until after announcement, now Oct. 19th? )
T&W (bankrupt, lost their listing)
Transamerica (6/99 sold to Aegon Corporation, N.V. /put on block 2/2000, but "business as usual," Jason A. Gendron, VP, Transamerica Equip. Fin. Services)
Unicapital ( $11.4 million first quarter loss chairman, CEO, CFO resign, 38 employees cutback, 8/23 BSB to use other funders reported, rumor that BSB will be "spun off", not confirmed and appears to be in the rumor stage right now. Good news, 9/1 Bank of America extends revolving credit line to October 16, 2000. 9/29/2000 ---Many rumors floating around. 10/12 Prognosis is "challenging," at best.10/17 BofA gives them until Friday to complete "process." Leasing News holding special report until after announcement)
USA Capital Leasing (gone-BK)


Classified Ads---Legal

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

Orange County, CA
20+ years with record of success. Hands on manager that can show how its done to get great results in Legal/Collections. michaellosey@gmail.com

San Diego , CA 
Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate.
Cell Phone: 760-533-4058; | Resume

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:

• Contract Negotiations • Fraud Investigations 
• Credit Investigations • Skip-tracing 
• Third-party Commercial Collections
John Kenny 
Receivables Management

For flat fee or commissions basis | ph 315-866-1167|

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)


joins Leasing Software Companies List

Company Name
Year Founded



Additional Services


Major Clients

North America
224 Main Street, 3A
Salem, NH 03079
Tel: (415) 647-9940
World Headquarters
82 bis – 84 rue de la procession
Paris 75015
Tel: +33 (1) 55 56 55 00


Emmanuel Gillet

Cassiopae V4 is front-to-back, web-based software for managing multiple products: equipment finance, commercial lending, consumer finance,
real estate finance, auto finance & fleet management,
real estate asset and property management.

Privately Held

Société Générale
BNP Paribas
Iveco Capital
Goldman Sachs
Terex Financial Services


Full Leasing Software Company List



New Hires---Promotions

Noah Ahn-O’Connor was named vice-president-information strategist for Key Equipment Finance. Prior he was senior sales operations manager, GE Capital-Vendor finance, project manager for Apple vendor finance programs) (June, 2012-September, 2012), sales force effectiveness leader, GE Capital-Equipment Finance (January, 2011-May, 2012), pricing manager, GE Capital-Equipment Finance for several divisions(July, 2008-December, 2010). Pricing manager, GE Capital Solutions (January, 2006-July, 2008), manager of finance & operations, GE Commercial Finance (July, 2004-December, 2005), senior financial analyst, GE Commercial Equipment Financing (March, 2002-June, 2004), GE Capital Financial Management Program, GE Capital Europe (October, 1999-March, 2002).University of Bath BSc, Chemical & Bimolecular Sciences (1993 – 1997).

"Dave Angel has returned to Key Equipment Finance to the company to serve as director, large corporate accounts. In this position, Angel will originate large ticket financing opportunities for Key’s large corporate clients and prospects with products that include leasing and secured/structured debt. ‘I am pleased to welcome Dave back on board to work with our large corporate customers,' said Deborah B. Brown, senior vice president and large corporate sales director for Key Equipment Finance. “Dave has more than 27 years of equipment finance and leasing experience, including 21 years at Key. I look forward to working with him to support Key’s clients and prospects in the large corporate segment.” Prior to rejoining Key Equipment Finance, Angel worked in the utilities, power and renewables group of KeyBanc Capital Markets. He first joined Key Equipment Finance in 1991 and moved from the credit group in 1993 to grow and manage structured debt transactions.

Lisa Gabrielson Joins EverBank Commercial Finance, Parsippany, New Jersey as Healthcare Relationship Manager. Previously she was owner of Big McDonald Resort (September, 2010--Present), regional sales manager US Bank (1992-September, 2010), director of Internal Sales, US Bank (S01-June, 2003), director of operations, US Bank (January, 1998-February, 2001). Southwest Minnesota State University, Bachelor, Marketing, Minor in business management Activities and Societies: I worked full time while going to school and still maintained a GPA of 3.78

Steve Kueppers hired as Vice President at SunTrust Equipment Finance & Leasing and will be based in Minneapolis, MN. He will cover Minnesota, Wisconsin, North Dakota, South Dakota, Nebraska and Iowa. Previously he was vice president-senior account executive, GE Capital (March, 2010-October, 2012), vice president, sales, United financial of Illinois (October, 2000-February, 2009), senior auditor, Boulay, Heutmaker, Zibell & Co (November, 1999-October, 2000), senior auditor, Ernst & Young (January, 1998-October, 1999). University of Wisconsin-Eau Claire, BBA, Accounting (1993 – 1997). Activities and Societies: Varsity Hockey Team

Greg Lefebre, Farmington, New York, has opened a new factoring division for Integrated Logistics & Associates. He remains as CEO at Rochester Equipment Leasing, where he tells Leasing News, “I have not exited the leasing business. I have brought in to Integrated to launch and run this program; we will also be offering leasing through REL, Inc." Previously he was assistant vice president, Upstate National Bank (1995-1998), national sales manager, Patora Leasing Corporation (December, 1992-July, 1995) State University of New York College at Brockport, BS, Communications (1986 – 1988), Activities and Societies: WBSU, 88.5FM Alfred State College, AS, Business Administration (1985 – 1986), Victor Central High School
Regents, Business (1980 – 1984).

Jim Merrilees, CLP, has joined Great American Insurance Group, Cincinnati, Ohio, as a Business Development Consultant.

He will be working out of Portland, Oregon. Previously he was vice-president at RTR Services. Jim has thirty-nine years of professional experience in commercial leasing and related industries. He has held senior management positions for both equipment leasing and service providers to the industry. He is a past board member of Equipment Leasing and Finance Association, as well as president of the National Equipment Finance Association and Certified Leasing Professional Foundation. He perhaps knows almost everyone in the leasing business. He has a BS degree in Finance from Miami University in Oxford, Ohio and an MBA from Pepperdine University in Malibu, California

Shawn Passman has been hired as Marketing Vice Presidents of the Direct Client Group for SunTrust Equipment Finance & Leasing. He will cover New Jersey and the greater metropolitan New York area. Previously he was vp business development, Royal Bank America Leasing (December, 2005-October,2012), svp marketing, Oxdygne Therapurity, LLC (January, 2005-December, 2011), owner, Passmar (December, 2005-January, 2006), director, Sun Microsystems Finance (2002-2006), sales vice president, GE Capital (1994-2005), director, GE VFS (1994-2005), sales manager, GE Commercial Finance (1994-2005), regional manager ,BAMS (1994-2002), regional finance manager, Nexitira One (1994-1999), regional finance manager, Nortel Networks/Bell Atlantic (1994-1998_, regional sales manager, US Leasing,( 1987-1990), sales manager, US Lines (1984-1986). Villanova University (1979 – 1985). Drake University, BA, Economics (1980 – 1982), transferred in from Villanova Activities and Societies: Football team. Villanova University (1977-1982). Bishop Egan (1972 – 1980).

Destry Toney named Marketing Vice Presidents of the Direct Client Group for SunTrust Equipment Finance & Leasing. "He will be based in the greater Seattle, WA area covering Washington, Oregon, Alaska, Idaho and parts of Northern California. He comes to SunTrust after having spent several years with GE Capital Commercial Finance, and more recently, as a Principal with Blue Diamond Capital."

Shawn Wilson hired as vice president, Lease Originations based in ATEL Leasing’s Dallas Regional Office. Previously he was senior relationship manager GE Capital (October, 2011-October, 2012), lease sales representative, GE Capital (September, 2010-October, 2011), regional sales manager, GE Capital (August, 2008-September, 2010), VP, business development manager-mid-Southern, Great Lakes Regions, CITI (July, 2005-August, 2008), avp, finance manager-Western region, Citi (March, 2003-March, 2006), wholesale credit manager, Citi (July, 2001-March, 2003), wholesale credit analyst, The Associates (August, 1999-July, 2001), management candidate, the Associates (June, 1998-August, 1999). Many honors and awards. Texas Woman's University, Master of Business Administration (MBA), Business Administration and Management, General
(2009 – 2011) Grade: 4.0/4.0, Activities and Societies: Epsilon Omega Honor Society Texas A&M University, BA, Finance and MIS (1993 – 1998). Activities and Societies: Kappa Alpha Psi




Leasing Industry Help Wanted


Experienced only, Sales Reps 1 Southeast, 1 West Coast
Looking to Expand Your Career
Base Salary & Commission
Send resumes to
Stable, profitable independent lessor, 30 years in business
Libertyville, IL


For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.




Funding Source Gets Burned by Inadequate Collateral
Description in One Case/But Survives Attack in Another
By Tom McCurnin and Frank Peretore

Details Matter in Security Agreements,
Two Cases Demonstrate Different Approaches

UCLA Basketball coach, John Wooden once said, “It's the little details that are vital. Little things make big things happen.” Today’s cases demonstrate that when drafting loan documents, especially the security agreement, a detailed description of the collateral may save the day.

The first case is In re Inofin, Inc., 455 B.R. 19, 17 U.C.C. Rep. 2d 269 (Bankr. D. Mass. 2011). In this case the debtor was a lender to used car dealerships, and RCG, Inc. was the lender to the debtor. The used car dealers assigned their motor vehicle installment contracts, to the debtor, who in turn pledged same to RCG. Motor vehicle installment contracts, like equipment leases, are chattel paper under Article 9 of the UCC.

The debtor had several funding sources, other than RCG, Inc. As a result, RCG decided to describe its collateral in its security agreement and financing statement as, “Chattel paper purchased with proceeds of RCG’s loans.”

The problem for RCG was that its funds were tendered directly to the debtor, not the car dealers originating the motor vehicle installment contracts, and RCG’s funds were not segregated from the funds of other lenders. As a result, the Trustee in the debtor’s bankruptcy attacked RCG’s lien, arguing that there was no way anyone could trace a particular installment sale contract to RCG funds. In fact, then the debtor’s bookkeeper was asked whether any of the RCG proceeds could be tied to particular installment contracts, she somewhat colorfully said, "No. In my opinion there was no way to tell, once funds had been deposited into the account. It’s like having a swimming pool and dumping buckets of water into it, and telling your kid, “Go swim in our water”.”

Because RCG’s security agreement defined its collateral as “Chattel paper purchased with proceeds of RCG’s loans” and no one could tie any RCG loan funds specifically to any particular installment sales contracts, the bankruptcy court held that RCG’s security interest never attached! Significantly, when each package of installment sales contracts were delivered to RCG they included allonges* that referenced assignment to RCG of, “all [the debtor’s] rights, title and interest”. Moreover, in a 2010 loan modification agreement between the debtor and RCG, RCG was granted a security interest in all collateral delivered to it after the modification agreement.

*(Allonges definition: Additional paper firmly attached to Commercial Paper, such as a promissory note, to provide room to write endorsements. An allonge is necessary when there is insufficient space on the document itself for the endorsements. It is considered part of the commercial paper as long as the allonge remains affixed thereto.)

The bankruptcy court dismissed these additional documents as insignificant. The court held the allonges were only “cover sheets”. The court dismissed the modification agreement language on the grounds that there was no “value” given for same, despite the fact RCG agreed, in the modification agreement, to reduce the interest rate, defer principal payments and forebear from foreclosure!

We find the Court’s ruling to be suspect especially since, RCG was in possession of the original retail installment contracts. A review of the PACER docket reflects that RCG’s secured claim will proceed to trial. Counsel for RCG has indicated a willingness to appeal if necessary.

The second case is In re: D&L Equipment., Inc. 457 B.R. 616, 75 U.C.C. Rep.2d 525 (E.D.Mich. 2011). In this case CIT entered into a floor plan financing agreement with D&L. In the financing statement (UCC-1) the collateral was identified similarly to the Inofin case, listed as “all equipment and inventory financed by the CIT Group/Equipment Financing, Inc.” Wells Fargo Equipment Finance subsequently acquired the transaction from CIT. Wells Fargo filed a UCC-3 noting the assignment to Wells Fargo, but did not amend the collateral description in the UCC-1.

The debtor filed a Petition in Bankruptcy and the Trustee attacked Wells Fargo’s lien, arguing that Wells Fargo was not perfected since it, and not CIT, had provided all the financing after the assignment to Wells Fargo.

The Court upheld Wells Fargo’s lien: This time the good guys won. The court, after a thorough analysis of the “notice” only nature of Article 9 financing statements (UCC-1s), found that the UCC-1 adequately put the world on notice of the filing. In so ruling, the Court noted Wells Fargo’s filing of the UCC-3 reflecting the assignment. It is unclear if the Court would have ruled in Wells Fargo’s favor without the UCC-3. This is particularly disconcerting since Wells Fargo was not required to file the UCC-3 under Article 9, and many secured parties opt not to so file.

Several lessons can be gleaned from the juxtaposition
of these two cases.

First, the reader should be reminded of the significant difference between the collateral description requirements in a security agreement versus a financing statement. There is little, if any, room for error in the security agreement, while the financing statement allows quite a bit more leeway due to its notice only role in the Article 9 scheme

Second, we learn from both cases that if the security agreement contemplates cash for specific collateral, that the secured lender must be able to trace the funds that were used to acquire the collateral. This is like a purchase money security interest. This tracing would not be required if the secured creditor was loaning money under a general credit line.

Third, loan documents should be reviewed when there is a change in the business model. In fact, most loan relationships should be reviewed annually, and new documentation drafted every few years. Here, RCG went over 15 years without changing its loan documentation.

Fourth, when the secured creditor is obtaining chattel paper, the secured creditor should obtain possession of the original contracts, and notations should be made on each contract, evidencing the creditor’s security interest. We generally see a rubber stamp with a signature. Allonges are unwieldy and can become separated from the contracts.

Fifth, know your borrower’s business. Here the loan balance was over $4mm dollars. For that sum, the secured creditor should have been aware of the selling of illegal securities from a review of the balance sheet and audit of the company. We did not understand why the SEC investigation took RCG as a surprise. Hard money lenders like RCG should have had an annual hard audit of Inofin.

In conclusion, details matter. Here both lenders would have been better served had it focused on the details of its own documentation. In addition, The Bankruptcy Court in the first case may have misunderstood the details of allonges.

Court Case:

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

Frank Peretore is the founding partner at Peretore & Peretore in New Jersey and New York and specializes in the representation of leasing companies.








Leasing Association 2012 Conferences


October 21-23
ELFA 51st Annual Convention
JW Marriott Desert Springs
Palm Desert, California

Shawn Halladay, the Alta Group, will be
covering the ELFA Convention for Leasing News

Registration Available at Site

Online registration is now closed, according to Amy Vogt, VP of
Communications and Marketing, ELFA "...but we will be welcoming
additional registrations on-site in Palm Desert, starting Sunday at
10am at the South Registration Counter of the Convention hotel."

Registration Form with Fees:

NEW---51st Annual Convention Program Guide (digital)



November 4-5
2012 Expo NJ Super Regional Meeting
Teaneck Marriott at Glenpointe


Greg Nappi
DDI Leasing, Inc.

Jennifer Gould
Stark & Stark

John Rosenlund
Portfolio Financial Servicing Company

John Wlosek
Geltrude & Company, LLC

Peter Leibundgut
Ardmore Banking Advisors

Tony Lamm
Lamm Rubenstone LLC

Primary Member rate: $199
Additional Attendee Member rate: $149
Primary Non-member rate: $299
Additional Non-member rate: $249
Exhibit Fee (does NOT include a free registration) $395




November 7 - 9, 2012

32nd Annual Fall Conference
Hilton La Jolla Torrey Pines
La Jolla, California

Conference Fee $975
(10% off first time attendee)
Government Registration fee $400

Registration and more information:

November 9-10
2012 NAELB Western Regional Meeting
Irvine, California
Hilton Irvine/Orange County Airport Hotel

Exhibitors (10/18/12)
360 Equipment Finance
Amerisource Funding, Inc.
Axis Capital, Inc.
Belvedere Equipment Finance
Blackstone Equipment Leasing L.P.
Blue Bridge Financial, LLC
Bryn Mawr Funding
BSB Leasing
Channel Partners, LLC
CLP Foundation
Cobra Capital LLC
Dakota Financial
Financial Pacific Leasing, LLC
First Federal Leasing
Maxim Commercial Capital, LLC
On Deck Capital
PacTrust Bank
Pawnee Leasing Corporation
Preferred Business Solutions
Quail Capital Corp.
Quiktrak, Inc.
RLC Funding
Stalwart Leasing & Contract Finance, LLC
TEAM Funding Solutions
TimePayment Corp

Note Cut-Off date for Hilton Irvine/Orange County Airport Hotel
is October 23, 2012.

Broker Member--1st Attendee $125
Broker Member--additional Attendee $115
Associate Member--1st Attendee $260
Associate Member--2nd Attendee $200
Funder Member 1st Attendee $260
Funder Member --additional Attendee $200
Broker Non-Member $200
Associate Non-Member $360
Funder Non-Member $360

The deadline for the NAELB group rate at the
Hilton Irvine/Orange County Airport Hotel is October 23, 2012.

Pre-registration Deadline is Tuesday, November 6, 2012.

On-Site Registration is available on November 9, 2012.

Registration Form:

Conference Information:


November 14-16
67th Commercial Finance Conference
JW Marriott Hotel
Phoenix, Arizona

Standard Registration Fees
(Saturday, September 1, 2012 – Friday, November 9, 2012)
Member: $1,295
Non-member: $1,895
Spouse/Companion: $495

On-site Registration Fees
(after Friday, November 9, 2012)
Member: $1,395
Non-member: $1,995
Spouse/Companion: $495

Registration plus other information


April 18-20, 2013
Annual Conference
Las Vegas, Nevada


To view Leasing Association Events-Meetings
Open to All, please click here.




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

Latin America Leasing Industry Declines,
Despite Growth in Several Countries

Leasing industry experienced a decline in overall portfolio value was due to Brazil’s performance.

Latin America’s equipment leasing and asset finance industry shrank by 13% in overall portfolio value in 2011, according to The Alta Group, the leading global consulting firm focused on the equipment leasing and asset finance industry. The Alta Group Latin American Region (LAR) has tracked the top companies and trends in Latin American leasing in its annual Alta LAR 100 report since 2004.

Rafael Castillo-Triana, CEO
The Alta Group Latin American Region

Rafael Castillo-Triana, CEO of Alta LAR, said the main reason that the Latin American leasing industry experienced a decline in overall portfolio value was due to Brazil’s performance. Brazil, home to nearly 45% of the region’s leasing market, suffered a 34% decrease in overall portfolio value.

“Brazil’s leasing portfolios were certainly the greatest disappointment in 2011,” Castillo-Triana wrote in the report. “Even though it is a country with a favorable legal framework for leasing and the best business friendly regulator worldwide (the Central Bank of Brazil), the Brazilian leasing industry is falling victim to two challenges: the flawed business models of current equipment leasing and finance companies operating in the country; and an environment that impairs the ease of doing business, i.e. the so-called ‘custo Brazil’ (Brazil cost), which refers to the increased operational costs associated with doing business with Brazil.”

In contrast, several other Latin American countries enjoyed banner years. Overall leasing portfolio value increased by 57% in Colombia and by 40% in Argentina, for example.

The Alta LAR 100 report also:

· Reveals each country’s market share, numbers of leasing companies, overall portfolio valuation in 2011 versus 2010, volume, return on equity, and new originations.

· Ranks the Top 100 leasing companies in Latin America, comparing 2011 portfolio valuation versus 2010.

· Provides financial information on multinationals involved in Latin American leasing, noting significant trends.

Alta LAR will discuss report details at the X Latin American Leasing Conference November 8-9 in Miami. For information, contact Katrin Forster-Csvany at, +1 954 632 0922, visit or click here for English, Spanish and Portuguese brochures (

A report summary can be downloaded at

The full report will soon be available for sale in English and Spanish. For information, contact, +1 954 632 0922.

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



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


Latin America Leasing Conference Nov. 8-9 in Miami
To Help Companies Create Value in New Era of Business

MIAMI, FL-- The X Latin American Leasing Conference November 8-9 at the Hotel Intercontinental Doral in Miami will help equipment leasing and asset finance operations in “Creating Value for a New Era.” The conference will feature sessions focused on this goal, and networking opportunities with potential customers, suppliers and financiers.

Rafael Castillo-Triana, CEO
The Alta Group Latin American Region

“With the economic crisis of 2008, many leasing companies saw their portfolio, volume originated and delinquency levels deteriorated,” said Rafael Castillo-Triana, CEO of The Alta Group Latin American Region, the consultancy that coordinates the conference. “Today it is important for companies to understand how to re-create value. We are in a new era with a new business environment.

“Latin America has become an attractive region for investment, and capital markets and regulations are different now than they were in 2008. We are also approaching a new accounting standard that will impact the leasing business in Latin America,” he explained.

The conference attracts CEOs, CFOs and other top managers of the largest equipment leasing and financing companies operating in Latin America as well as regional managers of equipment vendors, multilateral institutions and other organizations from different countries. Translation will be provided in Spanish and English for the following sessions.

· A Panoramic View of the Leasing Industry in Latin America: Results of The Alta LAR 100, Alta’s annual ranking of the top leasing operations and trends in the region.

· Overview of Leasing in Latin America

· The Impact of Future Accounting Treatment of Leases in the Leasing Business: Operational and Commercial Aspects

· Selling Leasing in the New Context

· Implementing Funding Strategies: Relationships with Banks and Multilateral Entities, How to Use the Capital Market Rationally, and Regulator Trends

· Creating, Collecting and Measuring the Value of Leasing Companies

· Asset Management: Trend Analysis

· Channels for Business Generation: Vendors, End Users, Referrals by Third Parties and Growth by Acquisition

Conference officials will also present the annual Alta Excellency in Leasing Award.

Each participant will receive an Amazon Kindle Fire.

Contact Katrin Forster-Csvany at, +1 954 632 0922, or click here for English, Spanish and Portuguese brochures.

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





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

CSI Leasing Expands in Asia

ST. LOUIS— CSI Leasing, Inc. (CSI), a global equipment leasing company headquartered in St. Louis, Mo., has expanded its operations in Asia by acquiring two leasing companies from Key Equipment Finance (“KEF”) in Hong Kong and Australia as well as all leasing assets in Singapore, Malaysia and New Zealand.

These acquisitions complement CSI’s existing operations in Malaysia, Singapore and Hong Kong and will allow for expansion of its leasing services to Australia and New Zealand. The companies will now operate as CSI Leasing (Singapore) Pte. Ltd., CSI Leasing Malaysia Sdn. Bhd, CSI Leasing Australia Pty Ltd. and CSI Leasing (HK) Ltd. Some KEF employees will join CSI from Australia, Malaysia and Hong Kong. CSI now leases in 38 countries worldwide.

Arnaldo Rodriguez, president
President – International division of CSI Leasing

“This further broadens our ability to deliver global one-stop shopping solutions to our multinational clients and vendor relationships. Additionally, we will provide continuity to KEF’s base of excellent end-user direct accounts as well as vendor accounts in this region,” says Arnaldo Rodriguez, President – International division of CSI Leasing.

“Asia is the fastest growing market for CSI Leasing and we are very excited about expanding our flexible and custom leasing services to this region,” says Tom Brown, senior vice president and regional director of Asia Pacific, based in Singapore.

With $1.4 billion in leased assets and more than 760 employees, CSI Leasing is one of the largest privately-held independent equipment leasing specialists in the world. Established in 1972, CSI has operations throughout North, Central and South America, Europe and Asia Pacific. More information is available at

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Leasing News: Fernando's View
By Fernando F. Croce

Special Halloween Edition, Part One

To many people, Halloween has boiled down to carving grinning faces on pumpkins, buying bags of candy for potential trick-or-treaters, and trying not to laugh when co-workers come to the office dressed like Frankenstein. But does anybody remember the last time a horror movie really scared them? To remedy that, here is part one of our recommendations for a ghoulishly hearty Halloween night.


The Haunting (Robert Wise, 1963): A versatile artisan whose career includes both "West Side Story" and "The Sound of Music," veteran director Robert Wise made an elegant contribution to the horror genre with this stylish tale of fear and trembling. Set inside a gothic New England mansion, the film follows a group of people led by a scientist (Richard Johnson) who's determined to prove that ghosts do exist. Among the investigators spending some spooky nights inside this mausoleum are the sleek Theodora (Claire Bloom), who may have clairvoyant powers, and the mousy Linora (Julie Harris), who feels a strange kinship with the house's spirits. Hailed by Martin Scorsese as the best horror movie of all time, this is a first-rate example of suspense and craftsmanship succeeding much more effectively than blood and guts.

It's the Great Pumpkin, Charlie Brown (Bill Menendez, 1966): No holiday celebration is quite complete without a special episode of the Peanuts Gang, and this Halloween-themed special ranks high among fans of Charles M. Schulz's beloved animated characters. While Charlie Brown, Lucy and the other kids are busy choosing costumes for their trick-or-treating party night, Linus is more interested in being visited by the Great Pumpkin, the magical creature that he believes brings candy to children on Halloween. As he waits on the pumpkin patch, however, will his belief be enough to make the fantastical real? One of the funniest Peanuts specials, this delightful short is, like their episodes on Christmas and Easter, a humorous and thoughtful rumination on the true meaning behind a holiday.

The Exorcist (William Friedkin, 1973): A title that repeatedly pops up at the very top of most lists about the most terrifying movie ever made, this legendary shocker has over the past decades lost none of its power. The story follows the ordeal of 12-year-old Regan (Linda Blair), whose strange and increasingly disturbing behavior leads her mother (Ellen Burstyn) to go beyond scientific explanations and seek the help of Father Karras (Jason Miller), a troubled priest. It soon becomes clear that the girl has been possessed by a demonic spirit, and Father Merrin (Max Von Sydow), is called in to help perform an exorcism. William Friedkin ("The French Connection") directs with all the stops out, creating a classic that will leave many audience members sleeping with the light on for a while.

The Shining (Stanley Kubrick, 1980): A director famous for creating descents into cinematic madness, Stanley Kubrick adapts the Stephen King novel and in the process takes a haunted-house yarn and turns it into an unsettling meditation on how evil can renew itself through the ages. Jack Torrance (Jack Nicholson) is a writer who brings his wife Wendy (Shelley Duvall) and son Danny (Danny Lloyd) for a stay at the Overlook Hotel. The family has the enormous place all to themselves, but, as Jack’s mind becomes frighteningly erratic and Danny encounters strange visions in the corridors, it becomes clear that they are not alone. Though it hardly lacks shocks, it is Kubrick’s masterful combination of music, mood and camera movement that makes it so indelibly creepy

The Thing (John Carpenter, 1982): Okay, so this is technically a science-fiction rather than a horror movie. Still, I have never met anyone who hasn’t been chilled to the bone by its horrific visions. Director John Carpenter, who also gave us "Halloween," heads to the South Pole for even stronger shocks here, following a group of scientists who think they have a great discovery when they find an ancient alien spaceship frozen in the ice. In reality, however, what they have is a monstrous shape-shifting visitor among them, taking over their base one unlucky character at a time. Thanks to an exceptional cast led by Kurt Russell, cutting-edge special-effects, and Carpenter’s amazing use of screen space, the film works up an unforgettable feeling of paranoia. Make sure to watch this one with the lights on!



News Briefs----


KeyCorp posts flat third-quarter net income

CIT Video on "What is Vendor Financing"

Low rates encourage shorter mortgages

Capital One 3rd-Quarter Net Up 44% on Acquisitions, Higher Revenue

Google, Samsung to sell Chrome laptop for $249

Santa Clara chipmaker Marvell cuts revenue estimate, CFO departs; stock sinks

PC waiting game pinches Microsoft results

GM to hire 3,000 workers from Hewlett-Packard

Hertz delays closing on Dollar Thrifty deal

Why Las Vegas Biz off--MGM China Wins Approval for 2nd Macau Casino



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Frank Gore, defense lead 49ers to win

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Tigers sweep Yanks, reach World Series

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Oregon runs over ASU




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.

from “ Touching the Bases”

These come from a soft cover 128 pages with index published by ( they take two weeks to send, but you are helping this company stay alive), or you can buy from Amazon, for the same price, but perhaps faster delivery. While they are all mostly baseball, some are not. He is a unique American poet. He lives in Hickory, North Carolina.


California Nuts Briefs---

Oakland port director placed on leave after strip-club reimbursement scandal

Restored 'Matriarch of San Francisco Bay' returns as the oldest yacht on the West Coast

Fort Bragg hospital files for bankruptcy


“Gimme that Wine”

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A journey from established CEO to winery founder

Paul Hobbs Winery awarded International Trophy "Best In Show" for its 2008 Napa Valley Cabernet Sauvignon at the 2012 Decanter World Wine Awards


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US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History

  1739 - England declared war on Spain over borderlines in Florida. The War is known as the War of Jenkins' Ear because a Member of Parliament waved a dried ear and demanded revenge for alleged mistreatment of British sailors. British seaman Robert Jenkins had his ear amputated following a 1731 barroom brawl with a Spanish Customs guard in Havana and saved the ear in his sea chest.
   1781- Washington takes Yorktown. By 1780, the Continental Army had suffered its worst privations, it greatest defeats, and its darkest hours. October was a terrible month in 1780. It would continue to lose battles but, by this time turned into a well-trained fighting force by European officers and aided by allied French forces, it endured and historians consider the American Revolutionary War ended this day in 1781 when more than 7,000 English and Hessian troops, led by British General Lord Corwallis, surrendered to General George Washington at Yorktown, Virginia, effectively ending the war between Britain and her American colonies. The military phase of the conflict ended at Yorktown as there were no more major battles, but the diplomatic struggle continued. Preliminary articles of peace were secured on November 30,1782, after long and difficult negotiations. The Treaty of Paris, by which the war was officially ended and independence formally acknowledged by Great Britain, was not signed until September 3,1783. Adding to the disagreements was communication by ship and even meetings locally were delayed as the pace of public transportation in the U.,S. was painfully slow. It took Thomas Jefferson five days to travel from Philadelphia to Baltimore. The time delay also gave over 100,000 ÒloyalistÓ the time to fled the U.S. Also known as Tories, they had suffered various penalties for their loyalty to the Crown, including confiscation of property, removal from public office, and punitive taxation. Probably no more than 10% of the colonials were Tories, who were generally well-to-do, engaged in commerce or the professions, or public officials. Many fled to Canada, some to England. Some returned after the peace treaty was actually signed. After the conflict, many were also able to recover at least some of their confiscated property. The estimated colonial population was 2,781,000
    1829 The monument to George Washington was completed this day in Baltimore, MD. The cornerstone was laid on July 4, 1815, with Masonic ceremony.
    1833 -- Edgar Allen Poe's "Ms. Found in a Bottle" appears in "Baltimore Sunday Visitor".
    1842 -- Military forces, believing war has begun, occupy Monterey, Calif., Mexico.
    1844 - The famous "Lower Great Lakes Storm" occurred. Southwesterly winds were at hurricane force for five hours, driving lake waters into downtown Buffalo NY. The storm drowned 200 persons.
    1848 - John "The Pathfinder" Fremont moved out from near Westport, Missouri, on his fourth Western expedition--a failed attempt to open a trail across the Rocky Mountains along the 38th parallel. It was not until scout Christopher "Kit" Carson did Fremont find passage West.
    1849 -- Elizabeth Blackwell became first woman in the country to receive medical degree.
    1850-- Annie Smith Peck, shocks society by wearing trousers when she climbed mountains. She had conquered every large mountain in the Western Hemisphere and at age 85 she climbed Mount Madison in New Hampshire.
    1876-Birthday of ÒThree Finger Brown;Ó Mordecal Peter Centennial, Baseball Hall of Fame pitcher born at Nyesville, IN. Brown won 239 games. His nickname came from a childhood injury that cost him one finger and misshaped others. Inducted inot the Hall of Fame in 1949. died at Terre Haute, IN. Feb 14, 1948.
    1895 - Historian Lewis Mumford Birthday.
    1901 - Arleigh A. Burke, admiral (WW II, Solomon Islands, Navy Cross), was born in Colorado. Although unable to complete his high school education because the school was closed during the flu epidemic in 1917, he competed successfully for an appointment to the U.S. Naval Academy. Convinced that the inadequacies of his secondary education put him behind other Midshipmen in his class, Burke decided that he could only overcome this deficiency by working more diligently at his studies than the others. This plan paid great dividends, and he graduated in 1923 in the top sixth of his class. Taking this lesson strongly to heart, he remained a believer in the benefits of sustained hard work throughout his Navy career. During the interwar years, Arleigh Burke honed his skills as a surface warfare officer, serving initially in the battleship USS Arizona, obtaining a postgraduate degree in ordnance engineering, and rising eventually to command a destroyer. It was in this formative period of his career that he learned the importance of the Navy adage "loyalty up, loyalty down"--if you expect loyalty from your people you must be loyal to them in return. During World War II, Burke commanded Destroyer Squadron 23 (the "Little Beavers") during combat in the South Pacific. Developing successful tactics to overcome Japanese advantages in night surface operations, he earned fame as "31-knot" Burke during the 1943 battles of Empress Augusta Bay and Cape St. George. It was in this period that his belief in the importance of thorough training was validated--as he explained to his subordinates, in combat your outfit could expect to do only about as well as it had trained to do beforehand. During Dwight Eisenhower's terms as President in the 1950s, Arleigh Burke served as Chief of Naval Operations (CNO) for six years. While CNO he initiated efforts such as the submarine-launched Polaris ballistic missile program that tremendously strengthened the U.S. Navy's military capabilities.
    1915 - Establishment of Submarine Base at New London, Connecticut. In 1868, Connecticut gave the Navy land and, in 1872, two brick buildings and a "T" shaped pier were built and officially declared a Navy Yard. Today the Naval Submarine Base New London (SUBASE NLON), located on the east side of Thames River in Groton, CT, proudly claims its motto to be "The First and Finest."
    1917 - The first doughnut was fried by Salvation Army (who would found the United Service Organization) volunteer women for American troops in France during World War I. The first of a group of 250 Officers and Soldiers of The Salvation Army to be posted to France to serve with General John Pershing's American expeditionary force sailed from New York on August 12th 1917. General Pershing was far from convinced that The Salvation Army's presence at the Front Line would benefit his troops and at first the Salvationists were treated with total indifference. At Demange, in the American first division sector, Salvationists toiled in pouring rain to build a hut 25 feet wide by 100 feet long for the troops benefit. No one gave them the time of day, much less a hand. What swung the troops to The Army's side was their practical example. No task was too menial, none too dangerous or difficult. But The Salvation Army won pride of place in American hearts by a brain wave born of sheer necessity. At Montiers, after 36 days of rain, supplies were almost exhausted. Only flour, lard and sugar remained. Ensign Margaret Sheldon, from the Chicago slums made a suggestion which was to go down in history. "Why don't we make them doughnuts?" They had no rolling pins or cake cutters and gales had blown down their tent but Salvationists thrive on challenges. Along with Ensign Helen Purviance, Margaret Sheldon crouched in the rain to prepare the dough. An empty bottle did duty as a rolling pin and in place of a cutter they used a knife to twist the doughnuts into shape. The first doughnuts cooked over a wood fire were triumph of improvisation. On the first day they served up some 150 doughnuts. The following days batch topped 300. The traditional hole now being punched out with the inner tube of a coffee percolator. The doughnuts made by The Salvation Army Lassies were an instant success with the troops. Some lining up for hours in appalling conditions for their daily supply. Soon the troops came to realize that even in the firing line The Salvationists would not neglect them. When Lassies like Ensign Florence Turkington crawled under shell fire to deliver coffee an doughnuts to troops in the trenches, letters praising the work of The Salvation Army began flooding back home. Over night the bewildered lassies found themselves national heroines. Although often in great danger The Salvationists displayed tremendous courage. At Baccarat they worked so close to the German lines that they couldn't even whisper for fear of being heard by the listening posts. The sermon that came with the coffee and doughnuts was a friendly squeeze on the shoulder.The Doughnut became a symbol of The Salvation Army in the U.S.A. Outside many of The Army rest rooms and hostels were hung giant "doughnuts". The Army, by selfless example, had won the hearts of a nation. At the end of the war the American people subscribed an unprecedented 13 million dollars to meet the debts incurred by The Salvation Army in its' war work.
     1926 - John C. Garand patented a semi-automatic rifle. Civil Service employee John Garand was in a class all by himself, much like the weapons he created. Garand was Chief Civilian Engineer at the Springfield Armory in Massachusetts. Garand invented a semiautomatic .30 caliber rifle, known as the M-1 or "the Garand," which was adopted in 1936 after grueling tests by the Army. It was gas-operated, weighed under 10 pounds, and was loaded by an 8-round clip. It fired more than twice as fast as the Army's previous standard-issue rifle and was praised by General George S. Patton, Jr., as "a magnificent weapon" and "the most deadly rifle in the world."
    1938 - For Decca records, the Bob Crosby Orchestra recorded "I'm Free". Trumpet was provided by Billy Butterfield. A few years later the song would be retitled, "What's New".
    1939 - One of Frank Capra's finest films, Mr. Smith Goes to Washington, opened in the United States. Starring James Stewart, Jean Arthur, Claude Rains, Harry Carey, Sr., and Edward Arnold, the film about a young idealist who discovers nothing but corruption in the government did well at the box office. It received many Oscar nominations, including Best Picture, Best Actor, Best Supporting Actor, and Best Director, but was knocked out of most at awards' time due to Gone with the Wind's sweep; it did snag, however, Best Writing, Original Story for writer Lewis R. Foster, and Stewart received the New York Film Critics Circle Awards for Best Actor.
    1949 - No. 1 Billboard Pop Hit: ``That Lucky Old Sun,'' Frankie Laine.
    1944--1944--US Navy opened to Black women.
    1944--HAJIRO, BARNEY F. --- Medal of Honor
for conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty:
Private Barney F. Hajiro distinguished himself by extraordinary heroism in action on 19, 22, and 29 October 1944, in the vicinity of Bruyeres and Biffontaine, eastern France. Private Hajiro, while acting as a sentry on top of an embankment on 19 October 1944, in the vicinity of Bruyeres, France, rendered assistance to allied troops attacking a house 200 yards away by exposing himself to enemy fire and directing fire at an enemy strong point. He assisted the unit on his right by firing his automatic rifle and killing or wounding two enemy snipers. On 22 October 1944, he and one comrade took up an outpost security position about 50 yards to the right front of their platoon, concealed themselves, and ambushed an 18-man, heavily armed, enemy patrol, killing two, wounding one, and taking the remainder as prisoners. On 29 October 1944, in a wooded area in the vicinity of Biffontaine, France, Private Hajiro initiated an attack up the slope of a hill referred to as "Suicide Hill" by running forward approximately 100 yards under fire. He then advanced ahead of his comrades about 10 yards, drawing fire and spotting camouflaged machine gun nests. He fearlessly met fire with fire and single-handedly destroyed two machine gun nests and killed two enemy snipers. As a result of Private Hajiro's heroic actions, the attack was successful. Private Hajiro's extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit upon him, his unit, and the United States Army.
    1944 - Marlon Brando made his New York stage debut at age 20 in the hit Broadway play, I Remember Mama. Playwright John Van Druten adapted Kathryn Forbes' novel, Mama's Bank Account. The show will become one of televisions first big hits in the late 1940's.
1950- "The Adventures of Ellery Queen" premiered. My father, Lawrence Menkin, wrote many of the episodes. In each of the shows Queen talked to the home audience at the show's climax to see if they were able to identify the killer. These people played Ellery Queen during the several year TV series: Lee Bowman, Hugh Marlowe, George Nader, Lee Phillips, Peter Lawford and Jim Hutton.
     1951---Top Hits
Because of You - Tony Bennett
I Get Ideas - Tony Martin
Cold, Cold Heart - Tony Bennett
Always Late (With Your Kisses) - Lefty Frizzell
     1953 - Popular singer of her time, Julius LaRosa, was fired on the air by Arthur Godfrey. "Julie lacks humility," Godfrey told the stunned audience, while putting his arm around LaRosa adding, "So, Julie, to teach you a lesson, you're fired!" This ended his career, and Godfrey also was never the same.
    1955-- For the first and only time, Elvis Presley and Pat Boone share the bill for a performance at the Circle Theatre in Cleveland, OH. 
    1956-- The U.S. Supreme Court unanimously strikes down two Alabama laws requiring racial segregation opublic buses.
    1957 Maurice 'Rocket' Richard of the Montreal Canadiens became the first player in the National Hockey League to score 500 goals when he tallied against the Chicago Blackhawks in a 3-1 Montreal victory. Richard finished his career with 544 goals and entered the Hockey Hall of Fame in 1961.
    1957 - No. 1 Billboard Pop Hit: ``Jailhouse Rock,'' Elvis Presley.
    1959 - The Miracle Worker, based on the childhood training of deaf and blind Helen Keller, and starring Anne Bancroft and 12-year-old Patty Duke, opened on Broadway to favorable reviews.
    1958-Brenda Lee records "Rockin' Around The Christmas Tree". The song will be released as a single but will fail to chart in either 1958 or 1959. When it was re-released in 1960, it rose to #14 and has since become a Christmas standard, being ranked at #4 in the Top 10 All Time Christmas Songs. 
     1959---Top Hits
Mack the Knife - Bobby Darin
Put Your Head on My Shoulder - Paul Anka
Mr. Blue - The Fleetwoods
The Three Bells - The Browns
    1960 - The United States State Department embargoed the shipment to Cuba of all goods except medicine and food.
   1960 -- Martin Luther King, Jr., & 35 students choose jail after arrest for sit-in requesting service at the snack bar of Atlanta's Rich's department store.
    1963 - Buck Owens started a 16-week run at top of the U.S. Country chart with "Love's Gonna Live Here". It eventually became the biggest of all the Buck Owens hits.
    1967---Top Hits
The Letter - The Box Tops
To Sir with Love - Lulu
Little Ole Man (Uptight-Everything's Alright) - Bill Cosby
I Don't Wanna Play House - Tammy Wynette
     1967 -- The Jefferson Airplane perform at Loews Warfield Theatre on Market Street, San Francisco.
    1967-Tamla-Motown releases Smokey Robinson & the Miracles "I Second That Emotion." The record climbs to #4 on the pop chart and Number One of the R&B, making it their biggest hit since "Shop Around" in 1960.
    1969 -- US: "Mad Bomber" Lamonica passes football for six touchdowns vs Buffalo (50-21).
    1969 - No. 1 Billboard Pop Hit: ``I Can't Get Next to You,'' The Temptations.
    1970--- Working from a design sketched out by his wife and himself, Elvis Presley orders a dozen 14-karat gold pendants from a Beverly Hills jeweler featuring the letters "TCB" set around a lightning bolt. Designed as totems for the Memphis Mafia (and also for security issues), the symbol stands, in Elvis' words, for "Taking Care of Business in a Flash." They would eventually come to symbolize the '70s era for Presley. 
    1970-The film Ned Kelly, starring Mick Jagger in the lead role, is released and the critics wasted no time in telling Mick he should stick to singing. One reviewer wrote: "He looks about as lethal as last week's lettuce." Predictably, the movie bombed at the box office. 
    1973 - Elvis and Priscilla Presley divorced after six years and one child, Lisa Marie.
    1974-Billy Preston went to the top of the US singles chart with "Nothing from Nothing", the singer's second and final number one.
    1974- Bachman-Turner Overdrive's Not Fragile hits #1
    1975-Dickie Goodman had the best selling single in the US with the novelty tune, "Mr. Jaws", which mixed his rapid-fire mock interviews with answers that were snipped from contemporary hit singles. Goodman first entered the US charts in 1956 when he and his partner Bill Buchanan used a similar format on a record called "The Flying Saucer".
    1975---Top Hits
Bad Blood - Neil Sedaka
   Calypso/I'm Sorry - John Denver
Miracles - Jefferson Starship
Hope You're Feelin' Me (Like I'm Feelin' You) - Charley Pri
    1981 - LA Dodger Rick Monday hit a two-out homer in the ninth inning, leading the Dodgers to a 2-1 win over the Expos in the 5th game of their championship series. The Dodgers would win the World Series title.
    1981 -- US: Martin Luther King, Jr. Library & Archives opens in Atlanta. Founded by Coretta Scott King, it is the largest repository in the world of primary resource material on King, nine major civil rights organizations, & the American civil rights movement.
    1983 - The United States Senate passed a bill making Martin Luther King's birthday a public holiday.
    1983---Top Hits
Total Eclipse of the Heart - Bonnie Tyler
Making Love Out of Nothing at All - Air Supply
Islands in the Stream - Kenny Rogers & Dolly Parton
Paradise Tonight - Charly McClain & Mickey Gilley
    1985 - "Take on Me", by a-ha, hit number one on the pop music charts. The video for the song was in regular rotation at MTV. The group is the first from Norway to have a No. 1 hit in the United States.
    1986 - No. 1 Billboard Pop Hit: ``True Colors,'' Cyndi Lauper.
    1987- The worst stock crash in the history of the New York Stock Exchange occurred when the Down Jones industrial average fell 508 points, closing at 1738.74, a decline of 22.6%, nearly double the decline in1929 that ushered in the Great Depression. The volume of stocks traded, 604,330,000, was nearly twice the previous record of 338,500,000set on October 16. computerized program trading, as well as various factors in the national and international economy, was blamed for the collapse of the market that had exhibited a case of the jitters in recent weeks. On October 230, the Dow Jones rose 102.27 points an trading set another new record for volume with 608,120,000 shares traded. In spite of the gain, largely confined to blue chip issues, many more stocks fell than rose The Down gained another 186 points the following day but dropped 77.42 points on October 22. The major markets set temporarily shorter hours in hopes of easing the tension, but on October 26, there was another drop
of 158.83 points. After a short period of relative quiet, the Dow fell 5.052 on Nov 3, ending a five day
rally, and on Nov. 9 the average was down another 58.85 points, closing at 1900.20.
    1981-Though it yielded only one minor hit single in "Backfired," "Koo Koo," the solo album by Blondie's Deborah Harry, goes gold today.
    1989 - Record breaking snows fell across northern and central Indiana. Totals ranged up to 10.5 inches at Kokomo, and 9.3 inches was reported at Indianapolis. The 8.8 inch total at South Bend was a record for the month as a whole. Up to seven inches of snow fell in extreme southern Lower Michigan, and up to six inches fell in southwestern Ohio. The heavy wet snow downed many trees and power lines. Half the city of Cincinnati OH was without electricity during the morning hours. Temperatures dipped below freezing across much of the Great Plains Region. Twenty cities, including fourteen in Texas, reported record low temperatures for the date. North Platte NE reported a record low of 11 degrees. In Florida, four cities reported record high temperatures for the date. The record high of 92 degrees at Miami also marked a record fourteen days of 90 degree weather in October, and
116 such days for the year.
    1991---Top Hits
Emotions - Mariah Carey
Do Anything - Natural Selection
Romantic - Karyn White
Keep It Between the Lines - Ricky Van Shelton
    1998 - Microsoft and prosecutors for the U.S. Department of Justice and twenty states met in federal court. It was the beginning of the antitrust case against the Microsoft Corporation.
    2000-- Dusty Baker, who led the Giants to a National League West flag with baseball's best record (97-65), reaches agreement with the Giants on a two-year contract extension. The pact makes, the two-time National League Manager of the Year the second highest-paid skipper in the majors.
    2006--Rod Stewart's CD, "Still the Same...Great Rock Classics of Our Time" entered the Billboard Hot 200 album chart at #1.





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