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

Monday, October 29, 2012

The San Francisco Sweep!

Today's Equipment Leasing Headlines

Confirmation---Evergreen Leasing is Closed
  Classified Ads---Collections
East West Bank to cut back Healthcare Leases/Loans?
 by Christopher Menkin
  Wells Fargo Equip. Finance Stripped of Its Perfected Lien
   By Tom McCurnin
Leasing 102 by Mr. Terry Winders, CLP
 “Define Your Lease Contract Requirements Well
   when having your contract signed by Lessee”
    Career Crossroad---By Emily Fitzpatrick/RII
     Do I need different versions of my resume?
        Classified Ads---Help Wanted
  The Branch is Dead--- Long Live the Branch!
   By David Hayes and Tahir Ali, SNL Financial
    No One Wants Nova Bank!
  Bank Beat by Christopher Menkin
    Top Stories October 22-October 26
  2012-2012 Leasing Association Conferences—Updates
     Bectran New Automated Leasing Solutions
      Santa Barbara CPA Faces $1 Million Penalty-12 Years in Jail
       Maltese Mix
        Pasadena, California Adopt-a-Dog
         Classified ads—Syndicator
News Briefs---
Monster Storm Targets East
  Latest on Hurricane Sandy
    Former Deloitte Vice-Chair gets 21 months
      We’re Back: Revenues Beat Recession Levels

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

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
     Baseball Poem
      California Nuts Brief---
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Confirmation---Evergreen Leasing is Closed

“Saw your post in Leasing News this morning regarding the above subject.

“It is true John has closed Evergreen Leasing to new vendors. Springs Financial Services will continue to work with John’s current vendors and customers on his behalf. He will continue to be involved in each transaction that has been submitted.

“By the way, Springs Financial Services has never in, 20 years, done mortgages. We have also never received any e-mails or phone calls from Leasing News.

“Thank You”

Rick Brownstein
Springs Financial Services
web site:
Phone: 954-865-6706

Evergreen Leasing Closed?



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. | Resume

Port St Lucie, FL
20+ yrs exp. commercial collection/late stage specialist. 
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Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


East West Bank to cut back Healthcare Leases/Loans?
by Christopher Menkin

This information is not confirmed, nor denied, but it appears East West Bank (NASDAQ: EWBC), Pasadena, California, the third largest bank headquartered in California with over $22 billion in assets, saw their healthcare lending group “resign” last week. It appears very similar to bank auditors reaction to Main Street Bank, Kingwood, Texas, loan and lease portfolio with the healthcare industry, and thus Thomas Depping stepping out of banking and back into the leasing industry with Ascentium. Mr. Depping did not go into specific reasons, but was quite public with the fact he didn’t like the “bank regulation handicaps.”

Reportedly many of the lenders in the EastWest Bank healthcare group had very high lending limits.

Leasing News was told Paul Appel, senior vice-president at East West Bank, previously with Main Street Bank (September, 2008-June, 2001) and Sky Financial (February, 1995-February, 2003) is no longer there.

Attempts to reach him via LinkedIn were made, but no response returned.

East West is connected to China and has over 130 locations worldwide, according to their website and LinkedIn listing.

October 23, 2012, the bank reported third quarter net income was $8.7 million, up 17% from the prior year.

Dominic Ng

"During the third quarter of 2012,East West grew non-covered commercial and trade finance loans by $314.1 million or 9%, and increased core deposits by $329.7 million or 3%toa record $11.4 billion from June 30, 2012,” Dominic Ng, Chairman and Chief Executive Officer of East West stated in a press release. “Our strong financial performance in the third quarter was driven by healthy growth in our loan and deposit portfolios, which resulted in increased total revenue, net income and earnings per share from both the prior quarter and prior year period."

“At this point, we believe we are well on our way to another year of record earnings for East West for the full year 2012. As the premier financial bridge between the East and the West, we continue to win new business and grow our market share as evidenced by our solid financial results. As we look to 2013 and beyond, we are confident that we will be able to continue to deliver healthy financial results and return strong value to our shareholders.”


Wells Fargo Equipment Finance Stripped of Its Perfected Lien
By Tom McCurnin
Barton, Klugman & Oetting

Where Construction Equipment “Accessions” Become Part of Titled Vehicle, Court Rules That Secured Creditor Lost Its Security Interest

In re Negus-Sons, Inc., 2012 WL 1110026 (Bkrtcy. D. Neb. 2012)

In my world of the Uniform Commercial Code, an “accession” is something attached to the collateral. A very long time ago, the rule was that if the accession became part of the collateral, then secured creditor to the accession lost out. This was changed, and now the secured creditor for the accession maintains its security interest in the accession, even if it is installed on another creditor’s collateral. This concept has a significant impact on equipment lessors, whose equipment might have accessions attached, or whose equipment might be an accession attached to another piece of equipment.

In today’s case, and equipment lessor’s security interest in accessions was deemed junior to the lien bankruptcy trustee. The Bankruptcy Court may have confused rules on priority with rules on perfection, and no one consulted Nebraska law to determine whether a perfected security interest in an accession keeps its status under Nebraska certificate of title law. I suspect Nebraska law did, and the Court and parties missed a potential argument.

Wells Fargo Equipment Finance issued a $4 million line of credit to Negus, a construction company, secured by a customized, heavy-duty truck with separately purchased service body and crane attachments. Wells Fargo duly perfected that collateral with UCC-1. The debtor later applied for a certificate of title for the truck. Neither the title application nor the title indicated Wells Fargo’s security interest on the truck. There was no explanation why the Bank sat on its rights for almost two years.

Negus filed for bankruptcy. The truck was sold by the trustee and the trustee and Wells Fargo commenced litigation over the proceeds. The issues were two-fold:

  1. Whether Wells Fargo had a perfected security interest in the truck;

  1. Whether Wells Fargo had a perfected security interest in the service body and crane installed on the truck.

On the first issue, the Nebraska Court of Appeals correctly ruled that Wells Fargo’s interest in the truck was unperfected because the interest was not noted on the certificate of title under UCC § 9 311(a)(2). The Court got it right on that one.

On the accession issue, the Nebraska Court ruled that because the collateral was a titled vehicle, any accessions were merged with the security interest of the title holder, and Wells Fargo Bank lost their security when the truck was titled.

UCC § 9 335(d) states:
“a security interest in an accession is subordinate to a security interest in the whole which is perfected by compliance with the requirements of a certificate-of-title statute.”

And if there was another security interest in the truck, the Bankruptcy Court would be right, but it was not a security interest only a trustee’s lien. There is a difference.

UCC § 9 335(d) is a rule about priority among two or more secured parties, not priority between a secured party and a lien creditor and therefore should not be to a bankruptcy trustee’s rights.

In fact, Wells Fargo argued that UCC § 355(b) applied which states:

“if a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral.”

But Wells Fargo failed to consult UCC § 9-303(b) which governs equipment subject to a certificate of title, and the equipment ceases to be equipment when the debtor submits an application for certificate of title. But local law determines whether that UCC carries over to the titled vehicle.

Two years after the filing of Wells Fargo’s UCC-1, the debtor applied for a title certificate, and since local law applies to whether a UCC-1 might carry over to a titled vehicle, the Court, and Wells Fargo should have consulted Nebraska law. If it was silent on the issue, (and I could not find any Nebraska law on the matter), then Wells Fargo’s UCC -1 should have maintained its security interest in the titled vehicle. I did not understand why the attorneys and/or the judge didn’t address this issue.

The lessons for the equipment lessor are:

First, if the lessor is financing equipment which might become parts of a larger vehicle, the lessor should follow through with making sure that the security interest is noted on the title, if the title exists.

Second, if the equipment is not yet attached to a vehicle, then the lessor is at risk. Frequent inspections and follow through to insure that the when the equipment gets attached to the titled vehicle, the lessor is “Johnny on the Spot” to get its lien noted on the title. Here, I didn’t understand why the Bank did nothing to perfect its interest on title for two years on a $4 million dollar loan.

Finally, local law should be consulted whenever equipment might be subject to lien rights not covered by the Uniform Commercial Code. I didn’t understand why Nebraska law (or the lack of it) was not cited by the parties.

The bottom line here is that when financing accessions which might be a part of a titled vehicle, the equipment lessor is at risk—Act accordingly!


Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Visit our web site at


Wells Fargo Case PDF

Previous Tom McCurnin Articles:


Leasing 102
by Mr. Terry Winders, CLP

Define Your Lease Contract Requirements Well
when having your contract signed by Lessee”

What is a lease? It is like saying what an automobile is! Over the years I have preached communication is the key to prevent problems in the future. Regardless of our attempts to shorten or make our lease agreements easier to understand they still use required legal phrases and long sentences that appear to go on forever. It is difficult for leasing personnel to understand and absolute Greek for lessees. Therefore either in voice or print ---you need to explain the important parts of your lease to the customer starting with what kind of lease are you offering.

I know that everyone tells you not to make tax or accounting statements to the lessee, but it is just as bad not to explain your position. If you are doing a true lease, it would be wise to explain that you are taking the capital recovery benefits and they can expense the lease payments. If you are doing a bargain option lease controlled by Article 9 and is disqualified as a true lease, then you should tell the lessee they have the right to take the capital recovery benefits. When the type of lease is left unexplained to the lessee he may misinform his tax preparer and this is probably going to mess up his income tax return and that possibly could cause an audit. Both the CPA and lessee will get angry with you, your company, and don’t expect any more business or a recommendation to a vendor about you or your company.

You should definitely inform the lessee about the responsibility to insure the asset and what limits are required. They usually do not understand what an additional insured endorsement is or why it is required. Explain it to them. In addition let them know that they must keep you informed as to the location of the equipment if it is moved.

Some lessors that only do $1 option leases treat the transaction like a Conditional Sales Contract and expect the lessee to understand it as such. But they fail to mention the non-cancelability clause and the size of the late charges and the property tax requirements. If there is a small purchase option, they also tend not to mention the 90 day clause. All will become problems in the future and will wreck your chances for additional business.

Most lessors require the lessee to sign the lease when it is put in front of them without time for review or sometimes without all the blanks filled in. Sometimes they fail to give the lessee a completed copy of the lease after the lessor has signed the agreement. You cannot expect the lessee to understand their responsibilities if they have nothing to go on.

Do you know what a quite enjoyment clause is for? If not how do you expect the lessee to know. What do advanced lease payments mean? Where should we send the lease invoice? The corporate address may not get the bill to the correct person for some time so ask for the correct person and address to send or email the monthly invoice.

The more the lessee understands what is expected of him the better relations you will have along with fewer problems. It would be wise to have a list of subjects to cover with the lessee at closing or a detailed closing letter that clearly states what you expect from the lessee over the term or better both.

I teach many of these subjects, have a CD available, a book, as well as strongly recommend the CLP Handbook, even if you don’t plan to take the test to become one.

(To learn more about the CLP Handbook)

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

He invites your questions and queries.

Previous #102 Columns:

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



Career Crossroad---By Emily Fitzpatrick/RII
"Do I need different versions of my resume?"

Question: Based on the position I am applying for, do I need to have a different version of my resume.

Answer: If you are looking to stay within the same role and/or industry, one “good” version will suffice.

You should have one marketable resume that accurately describes your career history. Regardless of the role you are applying for, your resume should basically be the same. If you are looking to change positions and/or industries, the only area that should change on your resume is your summary (introduction).

Your Cover Letter should absolutely be geared towards the position you are applying for. You should develop a basic template which highlights your successes and experience. For each position you are applying for, you must incorporate your understanding of each company and/or position you are applying for. Additionally, explain how your career background qualifies you for the position and what you can bring to the table.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
Invite me to Connect on LinkedIn
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns




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.



The Branch is Dead--- Long Live the Branch!
By David Hayes and Tahir Ali, SNL Financial

Bank of America has taken measures to curtail its costs by closing branches and as a response to customers moving their business to both mobile and online channels. Brian Moynihan, the company's CEO, noted in a third-quarter earnings conference call that the bank is cautious as it closes branches but has noticed that customer attrition is "well within and less than we thought it would be."

In JPMorgan Chase's presentation to investors in February, the company stated that it planned to eventually add more than 500 new branches in California, Florida and the Atlanta area. The company's consumer and business banking presentation stated that within their respective retail segments, branches account for 45% of Chase branded cards sold, 50% of retail mortgages originated and 30% of commercial dollars deposited and that, without branches, its commercial banking business was unlikely to exist.

Despite their differences, all three banks (and 13 others in the top 20), saw their branch distribution skew away from branches with less than $10 million in deposits in the last three years. In 2009, branches with deposits of less than $10 million accounted for 10.27% of Wells Fargo's branches, 6.40% of Bank of America's branches and 12.20% of JPMorgan's branches. At 2012, sub-$10 million branches had dropped to 6.80% of branches for Wells Fargo, 4.65% for Bank of America and 11.60% for JPMorgan. In contrast, 14 of the 20 banks saw their concentration in branches with deposits between $50 million and $100 million increase.

Two of the banks that increased their concentration in sub-$10 million branches were Huntington Bancshares Inc. and Woodforest Financial Group Inc. The vast majority of Woodforest's branches are located in retail stores, primarily Wal-Mart. Huntington has also made efforts to build out its in-store branch footprint. On Huntington's third-quarter earnings conference call, CFO Donald Kimble noted that the company had opened 83 branches under its partnership with Giant Eagle and Meijer, two retail stores, and plans to open another 44 by the end of next year. Kimble went on to say that the company expects to break even at two years for these branches.

BMO Financial Group's gain of 402 branches, was the largest overall for the group, helped by its purchase of Marshall & Ilsley Corp. According to BMO's press release announcing the deal in December 2010, Marshall & Ilsley held 374 branches at the time.

The banking industry has spoken: Total branches have been in decline for the last three years. Yet despite the industry's downward trend, over half of the largest banks by branches actually saw their branch counts increase since 2009 thanks to a mix of acquisitions and branch building. In fact, the top 20 banks by branches boasted 40,663 branches at June 30, up from the group's total of 39,968 branches three years earlier. The group's increase was helped both by new branch construction as well as acquisitions like PNC Financial Services Group Inc.'s purchase of RBC Bank (USA) or BB&T Corp.'s government-assisted deal for Colonial Bank.

However, this increase was in spite of the declines at Wells Fargo & Co. and Bank of America Corp., the number one and number two banks by branch count. Wells Fargo and BofA posted 6,307 branches and 5,612 branches respectively at June 30, compared to 6,803 and 6,248, respectively, three years earlier, a collective decline of 1,132 branches. The two banks together accounted for slightly more than half of the entire industry's 2,260 net closures since 2009. Total branches for banks and thrifts peaked in 2009 at 99,874 before falling to 98,807 in 2010, 98,429 in 2011 and 97,614 in 2012.

Yet at No. 3, JPMorgan Chase & Co. has made a concerted effort to increase its branch presence and boasted 355 more branches at June 30 than it did three years earlier. JPMorgan opened 581 new branches between July 1, 2009, and June 30, 2012, with the majority of branches opened in the Sun Belt states. The company's top five targets were California with 237 new branches, Florida with 88, Texas with 42, Illinois with 37 and Georgia with 27.

This dichotomy among the top three branch holders largely captures the conflicting forces banks claim when it comes to branches, that of consolidation, changing trends and growth opportunities. Wells Fargo embodies the consolidation trend; of its 626 branch closures, 342 were formerly Wachovia Corp. branches before the firms' blockbuster merger in 2008.



No One Wants Nova Bank!
Bank Beat by Christopher Menkin

The 13 branches of NOVA Bank, Berwyn, Pennsylvania, were closed today by the Pennsylvania Department of Banking and Securities, which appointed the FDIC as receiver. The FDIC was unable to find another financial institution to take over the banking operations of NOVA Bank. The FDIC will mail checks directly to depositors of NOVA Bank for the amount of their insured money. As a convenience to depositors, the FDIC has made arrangements with National Penn Bank to accept the failed bank's direct deposits from the federal government, such as Social Security and Veterans' payments through January 25, 2013. (The seven National Penn Bank locations designated to service NOVA Bank's customers receiving federal government direct deposit payments are as follows: One Penn Center; East Falls; Norristown; Wynnewood; Paoli; Wayne, and Lionville.)

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $91.2 million

The Bank was established May 31, 1887 and had 107 full time employees at 13 offices: two in Berwyn (1887 & 1999), one in Deptford (1988), Exton (2005), Havertown (2004), Media (2006), Plymouth Meeting (1998), Woodbury Heights (1998), Wynnewood (1999) and four in Philadelphia (1997, two 2008, 2004/2009). Filed January 11, 1988 and notice on November 29, 2008

NOVA Financial Holdings acquired 100% of Pennsylvania Business Bank and merged with Embassy Bank with William Kronenberg, III, Kenneth B. and Moira F. Mumma, Lawrence Way each 16.7% of preferred stock and John J. and Doris Sickely 13.3% of preferred stock of New Century Bank, Phoenixville.
(Kronenberg was involved in insurance, Mumma, an attorney, was the chairman and CEO of New Century Bank).

The FDIC gave Chief Lending Officer Thomas J. Patterson notice of participation with the bank January 26, 2012 (Meaning they didn’t want him having any authority at the bank).

Patterson was arrested for misappropriating customer funds after a joint investigation by the FBI and local police. He later pled guilty and the FDIC issued an Order of Prohibition, barring Patterson from participating in the financial affairs of any institution.

According to FDIC records, the bank was never profitable, not doing well as early as 2006 before the merger/acquisition and went from the capital of $31.3 million in 2007 to the latest available, $3.7 million, June 31, 2012.

Charge offs, declining working capital were not good, never getting better, and the non-current loans were enough to scare away any bank from taking over whatever was left, including the branches and 107 full time employees.

Tier 1 risk-based capital ratio 2.04%

(in millions, unless otherwise)

Net Equity

2006 $28.8
2007 $31.3
2008 $25.3
2009 $23.0
2010 $13.2
2011   $9.0
6/30   $3.7


2006  $194,000
2007 -$293,000
2008   -$4.7
2009 -$25.7
2010 -$19.0
2011   -$5.5
3/31    -$5.0

Non-Current Loans

2006    $2.0
2007 $775,000
2008     $4.7
2009    $15.0
2010    $21.2
2011    $20.0
6/30    $27.9

Charge Offs
2006 -$22,000 ($51,000 loans to indiv.,-$52,000 commercial/ind.,-$18,000 nonfarm,-$3,000 1-4 family)
2007 -$115,000 ($136,000 nonfarm/nonres.,$19,000 other loans, $5,000 individuals, -$32,000 commercial/ind., -$13,000 multifamily
2008 $1.6 ($1,000 multifamily,$477,000 nonfarm, $13,000 other, -$18,000 nonfarm/nonres.)
2009 $5.3 ($2.1 commercial/industrial,$1.6 1-4 family, $950,000 construction/land,$70,000 other)
2010 $14.3 ($8.5 commercial/ind.,$3.0 nonfarm/nonres,$1.8 1-4 family,$411,000 construction)
2011 $6.0 ($3.8 commercial/ind.,$1.3 1-4 family,$1.3 construction/land,-$405,000 nonfarm/nonres.
6/30 $7.6 ($4.6 commercial/ind.,$1.2 1-4 family,$760,000 nonfarm/nonres. $621,000 construct/land) Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans

As of June 30, 2012, NOVA Bank had approximately $483.0 million in total assets and $432.2 million in total deposits. The amount of uninsured deposits will be determined once the FDIC obtains additional information from those customers.

The FDIC as receiver will retain all the assets from NOVA Bank for later disposition. Loan customers should continue to make their payments as usual.

List of Bank Failures:

Bank Beat:


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Top Stories October 22-October 26

Here are the top ten stories opened by readers:

(1) Bulletin Board Complaint
Truck Lenders Group/TruckLendersUSA

(2) Excellent Tips by Warren Buffet

(3) --Exclusive--Clean Energy Lease Gets $32 Million Dirty
By Tom McCurnin

(4) Evergreen Leasing Closed?

(Tie) (5) Leasing 102 by Mr. Terry Winders, CLP
Stipulated Loss Value (SLV)

(Tie) (5) Bruce Zwillinger Retires--Last Day was Friday

(6) Shawn Halladay on the ELFA Convention in So. Calif.

(7) US Bancorp Record Results/also Lease Charge offs

(8) Solar Financing Co. Objects to View of Industry by McCurnin

(9) Open Positions at Leasing Funders

(10) New Hires---Promotions




Leasing Association 2012 & 2013 Conferences


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 (10/26/12)
360 Equipment Finance
Amerisource Funding
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
Merchant Cash and Capital
On Deck Capital
PacTrust Bank
Pawnee Leasing Corporation
Preferred Business Solutions
Quail Capital Corp
Quiktrak, Inc.
RLC Funding
Stalwart Lease & Contract Finance
TEAM Funding Solutions
Tetra Financial Group
TimePayment Corp

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


March 14, 2013
2013 National Equipment Finance Summit
Hyatt Regency Albuquerque


March 21, 2013
12th Annual IMN/ELFA Investors Conference
New York


April 9-11, 2013
25th Annual National Funding Conference
eFairmont Hotel, Chicago, Illinois



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



September 12, 2013
2013 Funding Symposium


October 20-22
ELFA 52nd Annual Convention
JW Marriott Grand Lakes-Orlando, Florida




Bectran New Automated Leasing Solutions
#1 Cloud-based (SaaS) B2B Leasing Credit Management Solution

Bectran announces the release of a new all-in-one, cloud-based B2B leasing credit management solution.

Louis Ifeguni-CEO

“Many leasing companies still use an old-school, paper-based, manual credit process,” Louis Ifeguni-CEO said.

“Imagine a totally automated credit application process. Imagine not having to call prospective customers because they’re missing information on their Credit App, not having to call any of their references for info, not having to order credit bureau reports and not having to fax paper back and forth. No more paperwork to file, it’s all stored online! Use DNB or Cortera?

“The Bectran solution also applies analytics to all the data received; customer info, references, credit bureau data, financial statements; automatically, providing credit risk and credit limit recommendations to help businesses make the most informed credit decision possible.

“ Bectran integrates these credit bureau results directly into the Bectran analytics and Bectran can integrate with back office systems to get all the pertinent credit data into them! Bectran typically get responses from references within minutes!

“ To top it all off, Bectran also manages all Tax Exempt certificates, Financial Statements, Personal Guarantees, electronically! In fact, Bectran can electronically manage any external document, associated with a credit request, even documents that may require a signature!

“All this info and documentation is available 24 X 7 X 365 from any PC connected to the internet! That’s because Bectran is a cloud-base (SaaS) solution. No Hardware to buy or Software to install on PC’s and servers, no yearly maintenance contract and no ongoing support is required from IT staff. Bectran is a great, inexpensive solution to eliminate labor intensive, time consuming, repetitive credit tasks, while at the same time reducing exposure to bad credit decisions. The Bectran solution benefits businesses directly by converting prospective customers to paying customers much more quickly and efficiently. (Typically in a few hours or less!)

“The Bectran platform can be installed and up and running in minutes as opposed to days or weeks for traditional, PC or server based software. Bectran also integrates seamlessly with legacy/enterprise systems using world class, platform independent APIs.”

For a demonstration and/or a FREE trial, please visit us at



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

Santa Barbara CPA Faces $1 Million Penalty-12 Years in Jail

Los Angeles, CA. – A Santa Barbara-based certified public accountant who advertised on his website that he has appeared as a tax and financial expert on national television shows was convicted late yesterday afternoon by a federal jury on charges that he underreported more than $1 million by pretending that his accounting income had been earned by his non-profit foundation for providing “marital counseling.”

Steven Mark Pybrum, 61, operating his accounting practice under the names of Pybrum & Company, LLP, and Family Business Center, was convicted of four counts of subscribing to false income tax returns. The jury deliberated for less than three hours before returning their verdict.

The evidence presented during a three day trial before United States District Court Judge Gary A. Feess showed that Pybrum subscribed to false individual income tax returns for the tax years 1999 through 2002. For the four years in question, Pybrum underreported total income and gross receipts on tax returns that were filed up to three years after they were due.

In 1999, Pybrum began depositing receipts from his accounting practice to a bank account held in the name of the non-profit charitable organization, Foundation for Harmony and Happiness (FFHH). Documents filed with the IRS granting FFHH its charitable status stated that it was established in order to provide pre- and post-marital financial and conflict resolution in order to help couples avoid financial disputes, which Pybrum claimed to be a leading cause of divorce.

Evidence presented at trial showed that between 1999 and 2002, Pybrum brought in up to $380,000 per year from accounting work, but instead of reporting that on his own tax return he pretended that this accounting income had been earned by FFHH for providing marital counseling. Prosecutors stated at trial that there was no evidence that the Foundation actually did any charitable work or earned any money for charitable activities during these four years, and that FFHH was simply a name on bank accounts that Pybrum set up to avoid paying taxes.

In addition, beginning in 1999 Pybrum used the Pybrum & Co. business account, and later the FFHH business account, to pay his personal expenses, including renting space in a Montecito mansion and buying a plane, fishing boat, and SUV.

Pybrum is scheduled to be sentenced by Judge Feess on March 4, 2013. At sentencing, Pybrum faces a statutory maximum penalty of 12 years in federal prison and fines totaling $1,000,000.

The investigation of Pybrum was conducted by IRS – Criminal Investigation in Los Angeles.

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Maltese Mix
Pasadena, California Adopt-a-Dog


ID# 4078968
Age: 2 years
Color: white
Weight: 10lbs

"I am already spayed, housetrained, up to date with shots, good with dogs, and good with cats.

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Rescue Group: Mutts and Moms
Pet ID #: 4078968
Contact: Marina Baktis
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Address: PO Box 50393
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News Briefs----

Monster Storm Targets East

Hurricane Sandy threatens Northeast;
President signs emergency declarations

Former Deloitte Vice-Chair gets 21 months,0,7931006.story

We’re Back: Revenues Beat Recession Levels



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Sports Briefs----


Scutaro's RBI hit lifts Giants to title

World Series: San Francisco Giants sweep Detroit Tigers

Steelers slow RG3, ’Skins

Dolphins dominate Sanchez & Co.

Jerry Jones on boos: 'There's never been a honeymoon for me here in Dallas'

Palmer leads Raiders to 26-16 win over Chiefs

Chargers slip to Browns, continuing slide






The Cathers Learns the Motion
  by Tim Peeler


and is often the hub of the movements,
 he reads the Morse code of the pitcher
and returns the speech of the dumb,

he loves the sphere and its ridges,
 rips it from the tight mitt
with or against the seams
whistles it from a frog squat.

the catcher learns
he is the hat of the hat dance,
the pitcher may think himself
the center of gravity,
but the catcher
waits at the apex of the great angles,

slaps the leather trap
on the errant razor
as it spits up from the dust.

the catcher imprints the motions of the hitters,
checks the rhythm of their passages,
knows he must slip an extra measure
at the end of their cha-cha-cha,

the catcher is the great disturber,
can cock twice on his return throw,
 spit on the plate, call for the "buzzer"
 block the ump's clear visage,

bilingual kamikaze
chattering like a wired chimp,
 muttering with silent busted digits,
sacrificing legs
to the varicose crouch and
the ruinous crunch
of the few that get through
to thin armor.


Touching All Bases
   Poems from Baseball
Tim Peeler



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Fans descend on Marin's watering holes to watch Giants make World Series run


“Gimme that Wine”

Rains Punctuate a 'Perfect' California Vintage

A look inside the new Ancient Lakes grape-growing region

A Grape Adds Distinction to Its Workhorse Status

Helen Keplinger Leaves Bryant Family Vineyard


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Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History

     1682 -William Penn lands in what will become Pennsylvania. He originally called it Sylvania, but the King changed it to Pennsylvania in granted the charter.
    1815-Birthday of Daniel Emmett DeCatur, creator of words and music for the song “Dixie,” which became a fighting son for Confederate troops and unofficial “national anthem” of the South, born Mt. Vernon, OH, and died there June 28, 1904.
    1837-Birthday of African-American folk artist Harriet Powers, now nationally recognized for her quilts, born in rural Georgia.
    1849-In San Francisco--Rowe's Olympic Circus and the Ethiopian>Serenaders opened today. The circus was situated in the block bounded by Kearny, Clay, Montgomery and Sacramento streets. Admission $3, a lot of money in its day.
    1850-Grand celebration ball given by the citizens of San Francisco in honor of the admission of California into the Union. Col. Jonathan D. Stevenson was Grand Marshal. Elizabeth Maria Wills sang an ode written for the celebration.
    1863-Battle of Wauhatchie (Brown's Ferry) concludes: The troops of Union General Ulysses S. Grant open a supply line into Chattanooga, Tennessee, when they drive away a Confederate attack by General James Longstreet. Although the Confederates still held the high ground above Chattanooga, the new supply line allowed the Union to hold the city and prepare for a major new offensive the next month. After the Battle of Chickamauga in northern Georgia on September 19 and 20, the defeated Union army of General William Rosecrans fled back to nearby Chattanooga. Braxton Bragg's Confederates took up positions along Lookout Mountain and Missionary Ridge to the east of the city. The Rebel lines made a semicircle around the city, and Confederate guns closed traffic on the Tennessee River. As a result, Union supplies had to come over a rugged mountainous route from the west. This line was vulnerable to a Confederate attack, and it made the Union's hold on Chattanooga tenuous at best. On October 23, Grant arrived as the new commander of all western forces. He immediately ordered two brigades to attack Brown's Ferry, where the Confederates were blocking river traffic to Chattanooga. The Yankees captured the ferry on October 27, then held off a counterattack to maintain control. On the night of October 28, Longstreet mounted a much larger attack to retake the crossing. The Confederates possessed superior numbers but could not pry the Union troops from the river. In the dark, the Yankees held and Longstreet withdrew his forces before dawn. The Union suffered 78 killed, 327 wounded, and 15 missing, while the Confederates suffered 34 killed, 305 wounded, and 69 missing. The Battle of Wauhatchie was one of the few Civil War engagements that took place at night. As a result of the battle, the Tennessee River was reopened for the Union and supplies reached Grant's troops. One month later, Grant drove the Confederates from the mountains around Chattanooga.
    1902 -- Fredric Brown, American writer birthday.. One of the most ingenious American crime, mystery writers, and also wrote science fiction to overcome — as he said — the too real aspect of detective fiction. He also wrote television plays for Alfred Hitchcock series. “Martian Go Home” was one of his best sellers. His other notable novels include Night of the Jabberwock (1951) and The Deep End (1952)
    1917 - The temperature at Denver, CO, dipped to zero, and at Soda Butte, WY, the mercury plunged to 33 degrees below zero, a U.S. record for the month of October.
    1921 – Birthday of Bill Mauldin (Pulitzer Prize-winning editorial cartoonist: [1945, 1959], created G.I. Joe and Willie) Killed in action.
    1922-Composer/arranger/trumpet player Neal Hefti Birthday
    1923 -- "Runnin' Wild" (introducing the Charleston) opens on Broadway.
    1925- tenor saxophone player Zoot Sims born, Inglewood, CA.
    1925- History records “Howard Johnson's “ as the first franchise chain. The chain got it s started when Howard Dearing Johnson, the proprietor of a drugstore in Quincy, MA, began making ice cream with a hand-held crank to sell at the soda fountain. Unable to finance additional restaurants on his own. he began franchising his name and the formulas for his ice cream and other specialties. The first restaurant to which he granted a franchise, in 1932, was on Cape Cod. Eventually, the chain had 600 restaurants across the country. Johnson's innovations included the use of a central commissary to supply all franchises with food of consistent quality and the sitting of diner along highways.
    1929- Major Stock Market Crash as prices on the New York Stock Exchange plummeted and virtually collapsed four days after President Herbert Hoover had declared “The fundamental business of the country ... is on a sound and prosperous basis.” More than 16 million shares were dumped and billions of dollars were lost. The boom was over and the nation faced nearly a decade of depression. Some analysts had warned that the buying spree, with prices 15 to 150 times above earnings, had to stop at some point. Frightened investors ordered their brokers to sell at whatever price. The resulting Great Depression, which lasted until about 1939, involved North Amer­ica, Europe and other industrialized countries. In 1932 one out of four US workers was unemployed.,,301462,00.html
    1934-Birthday of alto sax player Jimmy Woods, St. Louis, MO
    1936 -- Singer Hank Snow makes his first recordings, "Lonesome Blue Yodel" & "Prisoned Cowboy."
    1944---HAJIRO, BARNEY F. Medal of Honor
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--*OKUBO, JAMES K. Medal of Honor
Technician Fifth Grade James K. Okubo distinguished himself by extraordinary heroism in action on 28 and 29 October and 4 November 1944, in the Foret Domaniale de Champ, near Biffontaine, eastern France. On 28 October, under strong enemy fire coming from behind mine fields and roadblocks, Technician Fifth Grade Okubo, a medic, crawled 150 yards to within 40 yards of the enemy lines. Two grenades were thrown at him while he left his last covered position to carry back wounded comrades. Under constant barrages of enemy small arms and machine gun fire, he treated 17 men on 28 October and 8 more men on 29 October. On 4 November, Technician Fifth Grade Okubo ran 75 yards under grazing machine gun fire and, while exposed to hostile fire directed at him, evacuated and treated a seriously wounded crewman from a burning tank, who otherwise would have died. Technician Fifth Grade James K. Okubo’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1944--SAKATO, GEORGE T. Medal of Honor
Private George T. Sakato distinguished himself by extraordinary heroism in action on 29 October 1944, on hill 617 in the vicinity of Biffontaine, France. After his platoon had virtually destroyed two enemy defense lines, during which he personally killed five enemy soldiers and captured four, his unit was pinned down by heavy enemy fire. Disregarding the enemy fire, Private Sakato made a one-man rush that encouraged his platoon to charge and destroy the enemy strongpoint. While his platoon was reorganizing, he proved to be the inspiration of his squad in halting a counter-attack on the left flank during which his squad leader was killed. Taking charge of the squad, he continued his relentless tactics, using an enemy rifle and P-38 pistol to stop an organized enemy attack. During this entire action, he killed 12 and wounded two, personally captured four and assisted his platoon in taking 34 prisoners. By continuously ignoring enemy fire, and by his gallant courage and fighting spirit, he turned impending defeat into victory and helped his platoon complete its mission. Private Sakato’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1950 — Detroit's Wally Trippett established an NFL record with 294 kickoff return yards against Los Angeles. The record has since been broken by Tyrone Hughes but his average of 73.5 yards per return still stands.
    1953—Top Hits
You, You, You - The Ames Brothers
No Other Love - Perry Como
Oh - Pee Wee Hunt
I Forgot More Than You'll Ever Know - The Davis Sisters
    1953-The sale of the St. Louis Browns from Bill Veeck to a group of Baltimore investors was completed, and the American League's most hapless team became the Orioles.
    1954- Dizzy Gillespie and Roy Eldridge record “Trumpet Kings” album, Verve.
    1955-Billboard reviews Little Richard's "Tutti Frutti" and calls it "cleverly styled novelty with nonsense words, rapid fire delivery." 
    1956 - John Cameron Swayze and "The Camel News Caravan" were replaced by Chet Huntley and David Brinkley on NBC-TV. The "Huntley-Brinkley Report" clicked so well that the respected newsmen reported nightly until July of 1970. “Good night Chet. Good night David. And good night from NBC News.
    1957--Bobby Helms records "Jingle Bell Rock". By December, it will be in the US Top 10, eventually selling over a million copies and becoming a Christmas standard. 
    1957-Buddy Holly & the Crickets' "Oh Boy!" is released by Brunswick Records. It will peak at #10
    1957-- After his concert at Los Angeles' Pan Pacific Auditorium, Elvis Presley meets TV star -- and, thanks to Elvis' inspiration, recording artist -- Rick Nelson for the first time. "Man, I just love your new record," says Elvis, referring to "Be-Bop Baby." The King also mentions that he's a fan of Rick's Adventures of Ozzie and Harriet show and gives the young singer some advice on touring. 
    1958-Elvis Presley attends a Bill Haley concert in Stuttgart, West Germany while stationed there with the US Army.
    1959- First performance of the R.G.Davis Mime Studio and Troupe. The Troupe performs "Mime and Words" at the San Francisco Art Institute. … Diggers site
    1960 - Cassius Clay won his first pro bout -- over Tunney Hunsaker -- in six rounds in his hometown of Louisville, Kentucky.
    1961 - The top, pop song on the charts belonged to Dion (DiMucci). "Runaround Sue" was in its second week at the tiptop of the top-tune tabulation (it was in the top 40 for three months).
    1961—Top Hits
Runaround Sue - Dion
Bristol Stomp - The Dovells
Big Bad John - Jimmy Dean
Walk on By - Leroy Van Dyke
    1962 – John “Buck” O'Neil is the first black coach in major-league baseball, for the Chicago Cubs.
    1962-Actor Sydney Poitier testifies before the House Committee on Education and Labor, condemning the lack of opportunities for black actors in Hollywood. Poitier was born in 1924 to poor farmers in the Bahamas. He dropped out of school at age 13 and later joined the U.S. Army. After his army stint, he became interested in performing and joined the American Negro Theater. He debuted on Broadway in 1946 and three years later made his film debut in a U.S. Army documentary. By the late 1950s, he was the leading African American actor in the country. In 1964, he became the first African American actor to win the Best Actor Oscar, for his role as a laborer who helps build a chapel in Lilies of the Field (1963). Other films include In the Heat of the Night (1967) and Guess Who's Coming to Dinner (1967). He began directing in 1971 with Buck and the Preacher. In 1992, he won the American Film Institute's Life Achievement Award, the first black actor and director to be so honored.
    1965-CAPTAIN HUMBERT R. VERSACE Medal of Honor
UNITED STATES ARMY for conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty: Captain Humbert R. Versace distinguished himself by extraordinary heroism during the period of 29 October 1963 to 26 September 1965, while serving as S-2 Advisor, Military Assistance Advisory Group, Detachment 52, Ca Mau, Republic of Vietnam. While accompanying a Civilian Irregular Defense Group patrol engaged in combat operations in Thoi Binh District, An Xuyen Province, Captain Versace and the patrol came under sudden and intense mortar, automatic weapons, and small arms fire from elements of a heavily armed enemy battalion. As the battle raged, Captain Versace, although severely wounded in the knee and back by hostile fire, fought valiantly and continued to engage enemy targets. Weakened by his wounds and fatigued by the fierce firefight, Captain Versace stubbornly resisted capture by the over-powering Viet Cong force with the last full measure of his strength and ammunition. Taken prisoner by the Viet Cong, he exemplified the tenets of the Code of Conduct from the time he entered into Prisoner of War status. Captain Versace assumed command of his fellow American soldiers, scorned the enemy's exhaustive interrogation and indoctrination efforts, and made three unsuccessful attempts to escape, despite his weakened condition which was brought about by his wounds and the extreme privation and hardships he was forced to endure. During his captivity, Captain Versace was segregated in an isolated prisoner of war cage, manacled in irons for prolonged periods of time, and placed on extremely reduced ration. The enemy was unable to break his indomitable will, his faith in God, and his trust in the United States of America. Captain Versace, an American fighting man who epitomized the principles of his country and the Code of Conduct, was executed by the Viet Cong on 26 September 1965. Captain Versace's gallant actions in close contact with an enemy force and unyielding courage and bravery while a prisoner of war are in the highest traditions of the military service and reflect the utmost credit upon himself and the United States Army. 
    1966-After topping the Cashbox Magazine Best Sellers Chart two weeks earlier, ? and the Mysterians "96 Tears" reached number one on the Billboard chart. Although he closely guarded his true identity at the time, the man known as Question Mark turned out to be Rudy Martinez, from Saginaw Valley, Michigan. 
    1966- formation of the National Organization for Women to "bring women into full participation in the mainstream of American society NOW!"
    1967-Hair, An American Tribal Love-Rock Musical, opened at the Public Theater in New York City. The composer was Galt MacDermott. The musical, which appeared during the Vietnam War, carried an antiwar message and aroused some controversy for its glorification of “hippie” values, including a nude scene at the end of the first act. The production moved to Broadway's Biltmore Theater in April, 1968.
    1969-Historians consider this the day the Internet was created. The first connection on what would become the world wide web was made on this day when bits of data flowed between computers at UCLA and the Stanford Research Institute. This was the beginning of ARPANET, the precursor to the Internet developed by the Department of Defense. By the end of 1969, four sites were connected: UCLA, the Stanford Research Institute, the University of California, Santa Barbara and the University of Utah. By the next year there were 10 sites and soon there were applications like e­mail and file transfer utilities. The @ symbol was adopted in 1972 and a year later 75 percent of ARPANET traffic was e-mail. ARPANET was decommissioned in 1990 and the National Science Foundation's NSFnet took over the role of backbone of the Internet.
    1969—Top Hits
I Can't Get Next to You - The Temptations
Hot Fun in the Summertime - Sly & The Family Stone
Suspicious Minds - Elvis Presley
The Ways to Love a Man - Tammy Wynette
    1970 - Neil Diamond received a nice package: a gold record for the hit, "Cracklin' Rosie".
    1973 - O.J. Simpson set two NFL records this day. The Buffalo Bills' star running back ran 39 times for 157 yards -- and he rushed for a total of over 1,000 yards in only seven games.
    1974-- President Gerald Ford signs law that forbids credit discrimination on the basis of sex. In November, the Federal Home Loan Bank Board announces an end to discrimination in mortgage lending. (1995 backlash finds many mortgage lenders reverting by insisting on spousal credit/income.) 
    1977—Top Hits
You Light Up My Life - Debby Boone
Nobody Does It Better - Carly Simon
That's Rock 'n' Roll - Shaun Cassidy
Heaven's Just a Sin Away - The Kendalls
    1977--A 30 year old Rocker named Marvin Lee Aday, who uses the stage name Meat Loaf, releases his landmark album "Bat Out Of Hell". Since that time, the LP has sold over 43 million copies worldwide. 
    1981 - Loretta Lynn received a gold record for her album, "Greatest Hits, Vol. 2".
    1982--Paul McCartney and Michael Jackson released "The Girl is Mine", which will rise to #2 on the Billboard Pop chart. 
    1982- Car maker John DeLorean indicted for drug trafficking in a government sting operation; later acquitted
    1983 - After four weeks at #1 on the pop music charts, Bonnie Tyler's "Total Eclipse of the Heart" slipped to #2 -- replaced by "Islands in the Stream" by Kenny Rogers and Dolly Parton.
    1983-Pink Floyd's "Dark Side of the Moon" marks its 491st week on the Billboard album chart, surpassing the previous record holder, "Johnny's Greatest Hits" by Johnny Mathis. When it finally fell off of list in October 1988, "Dark Side" had set a record of 741 weeks on the chart. 
    1984 - Golfing great Tom Watson won his sixth PGA Player of the Year title; the most won by any golfer since the award was first given in 1948. Jack Nicklaus had accumulated five of those titles.
    1985—Top Hits
Saving All My Love for You - Whitney Houston
Part-Time Lover - Stevie Wonder
Miami Vice Theme - Jan Hammer
Touch a Hand, Make a Friend - The Oak Ridge Boys
    1987 - Severe thunderstorms in Arizona produced wind gusts to 86 mph at the Glendale Airport near Phoenix, baseball size hail and 70 mph winds at Wickenburg, and up to an inch of rain in fifteen minutes in Yavapai County and northwest Maricopa County. Arizona Public Service alone reported 2.5 million dollars damage from the storms.
    1988 - Wintry weather prevailed in the Upper Midwest. South Bend, IN, equaled their record for October with a morning low of 23 degrees. International Falls MN reported a record low of 11 degrees in the morning, then dipped down to 8 degrees above zero late in the evening.
    1989 - Thunderstorms developing along a cold front produced severe weather in Oklahoma and north central Texas during the late afternoon and evening hours. Thunderstorms in Oklahoma produced weak tornadoes near Snyder and Davidson, and produced hail two inches in diameter at Altus. Large hail damaged 60 to 80 percent of the cotton crop in Tillman County OK. Nine cities in the northeastern U.S. reported record high temperatures for the date as readings warmed into the 70s. For Marquette MI it marked their fifth straight day of record warmth. Arctic cold invaded the western U.S. Lows of 7 degrees at Alamosa CO and 9 degrees at Elko NV were records for the date. (My daughter in nearby Lamoille said it was zero degrees.)
    1990-- The inductees for the sixth annual Rock and Roll Hall of Fame are announced, a list which includes Wilson Pickett, Ike and Tina Turner, The Byrds, The Impressions, LaVern Baker, Jimmy Reed, and John Lee Hooker.
    1996-The National Basketball Association got set to launch its 50th anniversary of all time, ten of the 50 spent significant portions of their careers with the Boston Celtics.
    1998 - Hurricane Mitch (Oct 22-Nov 4, 1998), one of the strongest Atlantic storms ever, made landfall, slamming into Honduras, Nicaragua, Guatemala, Belize, El Salvador and other Central American countries. The real story was not the wind but the rain. Slow movement of the storm caused heavy rain, resulting in widespread flooding and mudslides. Over 10,000 people were killed, another 10,000 were missing, and some two million people were affected in some way by the storm.
    1998 - The space shuttle Discovery blasted off, returning 77-year-old U.S. Senator John Glenn to space some 36 years after he became the first American in orbit. Glenn was part of a crew of seven astronauts shepherding scientific payloads on the shuttle mission.
    2001-- Matt Williams becomes the first player in World Series history to hit home runs with three different teams. He homered in the Fall Classic for the Indians in 1997 and the Giants in 1989.
    2003-Research by Professor James Kellaris of the University of Cincinnati College of Business Administration, found that songs get stuck in our heads because they create a 'brain itch' that can only be scratched by repeating a tune over and over. Songs such as the Village People's "YMCA" and the Baha Men's "Who Let The Dogs Out", owe their success to their ability to create a 'cognitive itch'.
    2009--Forbes Magazine reported that Michael Jackson had earned about 72 million dollars since his death on June 6th. That was good enough for third place on their list of dead celebrities making the most money. Fashion designer Yves Saint Laurent came in first at $350 million, songwriters Richard Rodgers and Oscar Hammerstein were second with $235 million and Elvis Presley was fourth, earning $55 million.




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Top Stories

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   Bulletin Board Complaint
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    ---NAELB Regional Meeting report by Dwight Galloway, CLP
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   by Dwight Galloway, CLP
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   by Christopher Menkin
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    ---In Orderly Liquidation
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   by Tom McCurnin, Esq.
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   --One World/ELFA are also members
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- On Deck Secures Nearly $100 Million
   in Credit Facility Commitments
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    Bulletin Board Complaint
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  ---Automatic Evergreen Payment---PPR
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   By Aarti Kanjani, SNL Financial
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    as it reports lower 2nd Q earnings
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BBB Ratings, July, 2012
Alexa Rating---Leasing News #1
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- Leasing Icon Sudhir Amembal Gets Award
   --Since 1993, Chairman World Leasing Convention
- Paul Weiss, Back in the Saddle
   Re-Joins Leasing News Advisory Board
FinPac expands its "App Only" Program to $75k
- Fin Pac Now Accepting Leases in Canada
- John Otto's HL Leasing Ponzi Scheme Update
- IFC Credit--Rudy Trebels June 2012 Update
- Sheldon Player June, 2012 Up-Date

- Banks Continuing to Lend and also Improve Net income
- Doing Business with Different Generations
- Yes, Virginia, Leasing is Regulated!
Marlin Business Services, Mount Laurel, New Jersey
  Bulletin Board Complaint
- 15 Hottest Leasing Equipment Sectors
- Future of Mobile Devices
Where Millionaires Live in America
- Robert Fine of NorVergence Fame at Signature Bank
- What Happened to Hillcrest Bank Leasing?
- SBA Loans to Franchises
- 10th Anniversary-Two Buck Chuck Still Selling 5 Million Cases
- Charles Schwartz and Allied Health
- Why I became a CLP
- Copier Wars---It's more than the lease payment
    by Christopher Menkin
- Results Are In---
   "Application Only" versus Financial Statements?
- A California Leasing Gypsy Arrested by Costa Mesa Police
- Survey of Evergreen Clauses
- Responses to Working with a Smaller Bank Question
- Leasing Gypsies
- OneSource Develops Business License Software
- Talk About Chutzpa, Fanghella has more than Trump
- License Up-Date for Leasing in United States
- Loan/Lease Statute Up-Date
- Three Class Action Suits re: Brican America
- Verifying Tax Returns
- Starting a Leasing Company-Four Parts
   by Mr. Terry Winders, CLP
- Free Mobile Wine Program
- Special Report: Part I
   Could Church Kiosks, Royal Link Carts, NorVergence results been avoided?

   The use of “Equipment Finance Agreements”
- Special Report: Part II
    Bank of the West

   Equipment Lease Agreement (EFA)
- California License Web Addresses
- Settlement Costs Vs. Litigation Costs