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National Machine Tool Financial Corporation |
National Tel-Med Capital | National Business Finance

Sales Reps

Machine tools, construction, medical equip. Top competitive comp. package Fax resume: 847-871-4209 e-mail:
National has operated as an indirect lessor for over 25 years. They are expanding three of their divisions.

Wednesday, October 18, 2006

Chuck Berry doing his famous “duck walk.”
He is 80 years old today. Happy Birthday,
“Roll over, Beethoven” and make some room
for “Johnny B. Goode.”


Welcome to Leasing News and Mea Culpa
    Classified Ads—Sales
        “Broker-Vendor” Commission Chart
Sales Makes it Happen—Linda P. Kester
“Questions and Answers”
    Linda P. Kester Questionnaire
        Alexa Leasing Association Web Report
Classified Ads---Help Wanted
    Cartoon---Here comes little Miss Perky
        The Best, and Worst, State Tax Climates
Cash/Choksi go Kalakane!!!
    Landmark Study/SOX Compliance Issues
        Travelers CEO Jim Case named
        Ernst & Young Entrepreneur
Resource America $60mm Leaf II
    CIT Declares Dividends 3rd Quarter
        CHP Consulting/ALFA Systems 4.5
Alta Latin American Leasing Conf
    Bank of America Biz Cap/Ashtead Group
        Key Names Pete J. Georgelas Sr.VP+
CIT Rail/Bombardier's Rail Car
    Bank Quarterly reports
        News Briefs---
You May have Missed---
    "Gimme that Wine"
        Calendar Events
Snapple Real Facts
    Today's Top Event in History
        This Day in American History
            Baseball Poem

######## surrounding the article denotes it is a “press release”


Welcome to Leasing News and Mea Culpa

While I would like to welcome each reader personally, the task of managing the mailing list is now done automatically. I am informed who has joined, and who has left. Some directly e-mail to me to let me know why they are leaving. They don't like one story, so it is "good bye!" Others are leaving the leasing industry entirely and no longer need to be "in touch," they say. Sometimes it is like losing an old friend.

The fact is most read Leasing News go to the web site first and do not subscribe to the e-mail edition. They are not informed that the edition has been posted, nor do they receive an "extra" during the day. We post most of them, so perhaps they are not missing it.

I am surprised how many people read the edition at night, not in the morning, as we issue usually around 5am, EST.

We strive to be controversial. Leasing News likes to print what others will not.

We try to be thought provoking, tell the truth, be accurate and give all sides to a story. We are also the first to forgive, to make a compromise, and yes, you will hear me admit when we “step over the line” or make a mistake. I have made it a point to admit errors, and most often, you will find them at the beginning of the edition, not hidden near the bottom. My dog Bode thinks I am perfect, but readers know I make errors, especially late at night.

So please hang in there. Ask a colleague to subscribe. Tell your employer they should take out a banner ad or an employment ad. And to the individual in Arizona who sent us $150, just to show us his support, wow!!! He didn't want me to acknowledge it or use his name. He just wanted us to continue what we are doing.

Kit Menkin, editor



Classified Ads—Sales

Red Sky Winery owners Carol and Jim Parsons, Woodinville , WA *

These job-wanted ads are free. We also recommend to both those seeking a position and those searching for a new hire to also go to other e-mail posting sites:

In addition, those seeking employment should go to the human resource departments on company web sites for funders, captive lessors, and perhaps “broker-lessors.”

To place a free “job wanted” ad here, please go to:


Sales: Bakersfield, CA
I have an extensive sales and management background in equipment leasing. My work history exhibits my major strength in small ticket equipment leasing.
Sales: Boston, MA
Middle market originator, construction/Trucks / Trailers w/ 8 years in territory, looking for company / bank with competitive products
Sales: Cedar Rapids, IA
Formally trained in Credit, Collections, & Sales with regional bank. Seeking sales or sales management.
Over ten years
in SM, vendor and end user.
E mail:
Sales: Compenhagen, Denmark
10 years of experience as VP Europe, Middle East and Africa for a US based Equipment Leasing Company. $500,000 plus w/ excellent connections European shipping lines/ maritime financing. Click here .
Sales: Dallas, TX
17 years of experience in vendor sales. Solid book of business. Can hit the sales ground running in Dallas/Ft. Worth. Can Start ASAP
Sales: Denver CO
Experienced Equipment Leasing Broker looking for a in house leasing company. Can bring a book of business with me or develop new territory where needed.
Sales: Detroit MI
Motivated self-starter w/5 yrs sales exp. IT leasing. Excellent communicator w/strong negotiation/biz dev. skills. Six-sigma certified w/ Fortune 50 company/book of business.
Sales: East Central FL
20+ years experience in all areas of leasing; sales, credit, operations, syndication. Currently independent seeking position with direct middle market lender in regional capacity
Sales: Fresno CA
Account Exec/Manager. 7+ years Leasing Sales: underwriting/contract, complex transactions, hi-tech, government, direct & vendor leasing. Captive & syndicator environments. Expert deal closer. Will send resume.
Sales: Greensboro, NC
Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Sales: Kansas City, MO
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12
Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Sales: Los Angeles CA
5 years experience structuring off-balance sheet finance solutions on computer and medical equipment. Perform detailed competitive analysis and market research. I uncover leads and sell.
Sales: Midsouth, TX
Lease Veteran-25+ years, heavy Vendor experience looking for new
opportunity in MidSouth/SE. Experience in leasing to major accounts in high-tech/computers/Golf/transportation.
Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Sales: Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker.334-281-5200 E-mail:
Sales: Nashua, NH
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
Sales: Newport Beach, CA
Direct sales rep. in the middle market w/22 years experience  various types of equipment. Leasing/ financing from medical equip. to
mfg. equip.. Strong closer.
Sales: North Carolina, Central
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base. Email:
Sales: Philadelphia , PA Seeking an open opportunity to advance in the automotive, commercial leasing & finance industry......... Email: Sales: Philadelphia, PA
25 years in Healthcare and seeking an opportunity to represent a lender for dental/medical funding in the Northeast to
Mid-Atlantic states.
Sales: Portland, OR.
"Exp. In direct sales and sales mgmt.
I love Portland, but decent here jobs are few. Willing to be re-located, would like to work for you.
Sales: Prairie Village, KS Have substantial deal flow and database of broker referral sources. Generated and closed over $22M LY. Seeking exclusive relationship w/direct founder.

Sales: Saint Louis, MO
25+ years in sales + sale management.  Top producer.  Will relocate for right opportunity.

Sales: San Francisco Bay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only. Transaction size from $500M to $10.0MM. Client base: printing, food, retail, manufacturing. Email:
Sales: Currently employed Vendor Program “Hunter”, with complex program development experience. Also skilled at program management. Technology to yellow iron assets. Extensive national rolodex.
Sales: San Francisco Bay Area, CA
15+ yrs--mid mkt. $500M to $10.0MM. Seeking role w/ captive or global leasing firm. large book to bring with me! Debt, tax, 1st amendment, etc. Email:
Sales: San Francisco Bay Area, CA
20 plus years experience in small ticket and middle market, mostly vendor driven business; specialist in manufacturing, hi-tech & medical. Excellent analytical and marketing skills.
Sales: Southern California
Equipment Financing Professional with strong background in Sales, Management, Marketing & Operations. Will consider relocation for Senior Sales or Management position offering dynamic growth opportunity.
South Central US
TX, OK, KS & AR Territory.
Equipment finance and leasing professional, 20 years experience. Top producer in middle to upper middle markets. Extensive customer base.


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




Click on image to view a larger copy

Click on image to view a larger copy

Please use this form to submit any other companies and/or points to our list.



Sales Make it Happen

Questions and Answers
By: Linda P. Kester

Linda Kester helps leasing companies increase volume. For more information visit . Questions, contact:

The latest list of "broker/vendor" commissions is above. Note: you may click on it to enlarge. In the size above, it is easier to see who is in the categories. It is no secret that "discounters" and "lessors" make more money than an independent salesmen; however, there are several "funders" who are promising what appear to be like commissions.

I also should take that back about “independent salesmen.” Sierra Cities, then American Express Business Finance, had one salesman in Florida who was earning $2 million plus a year in commissions. From my experience, I have seen several who make $300,000 to $400,000 a year. When Tom Depping had his company going, many says were making $250,000 and above their first year. In fact, a broker or leasing sales person who is not grossing $150,000 a year, needs my help.

At this point, the information I have received was at my request. If you have a company you would like to investigate the points policy of specific funding sources, fill out the questionnaire form and hopefully they can take advantage of the free publicity.

I look forward to those requests, and here are some “on line” responses from questions I have received from Leasing News readers:

Q: I am curious as to the “broker” policies of other funders out there when it comes to lease default – say, within the first year of the lease. Typically, would a broker take some responsibility for the default? Would he/she be asked to “pay back” part of the commission that was paid out on the transaction?

A: Typically a broker would have to buy back a default if he violated the reps and warranties of the broker agreement. The most common agreements call for this if the broker knowingly misrepresents the deal or withholds pertinent information. This would include pay back of the commission.

Q: I work for a funding source. We understand that commission amounts paid to brokers can be quite high. This is fine with us, but it seems to raise issues around usury in $1 option leases. Do you have any thoughts on how funding sources avoid that issue?

A: Different states have different usury laws and also different interpretations of them i.e. if commercial leases are subject to them and if $1 out leases is also subject to them. One way some get around it is to have an assignment of residual back to the broker. The broker can still make it a $1 out lease to the customer but the funding source considers it a lease with a residual. The broker takes the usury risk.

I know that some funding sources only worry about the usury in the state they are located. They feel that if they have a lenders license in a certain state it protects them from usury issues. Also, most leases state that they are subject to the laws of a certain state, usually the lessor's home state.

That said, some funders limit commissions or disclose the rate in the lease documentation in certain states to keep the rate from becoming a usury issue (Texas, Arkansas, and Louisiana, for example). This generally is a result of prior litigation in those states.

Q: Has the role of the salesperson changed such that they can obtain a higher commission and part of the residual?

A: The role of the salesperson varies by leasing company. Some are just expected to “spray & pray” and then there are the true leasing sales professionals who can structure and work a deal.

Good quality reps should be well compensated. A rep should get a higher commission for selling FMV. If they are still employed by the leasing company at the end of the term, they should receive additional income from the residual.

Q: I thought giving a vendor a commission was against the law.

A: I have heard of “conflicts of interest” and potential problems with such a policy, but it appears to be like the speeding law. If you are traveling at the speed of regular traffic, meaning if you are all going over ten miles above the speed limit, it appears that is the acceptable, meaning you won't get a ticket.

Q: How long does it take the average leasing sales person to start to earn a decent commission.

A: It depends on the individual and circumstance. The average time recruiters' state is between three and six months. Generally, if you are not seeing a good living after six months, you should choose another profession or go to another company. Usually your employer will make that decision for you if you are not producing well after six months.






For the second month in a row, Leasing News is #1.

As important, Leasing News has now broken 100,000.

For a trade publication, this is quite a fete. Google and Alexa also treat the web site differently, giving more reporting information, more feed back for us, and move us forward in searching as the top 100,000 is a benchmark for the search engines.

Alexa Ranks Leasing Media Web Sites

100,075  Leasing News
112,998 American Bankers Association
207,032 Equipment Leasing Association
273,346 Monitor Daily
649,860 Ind Community Bankers of America
643,282* National Assoc. of Equip Leasing Brokers
990,463  Institute of International Container Lessors
1,187,882  Commercial Finance Association
1,118,967  eLessors Networking Association
1,197,767 Leasing Notes
1,311,260 Lean -Lease Enforcement Att Net
1,033,450  U.S.Banker
1,832,393  Exec Caliber-Jeffrey Taylor
1,375,480  United Association of Equipment Leasing
2,331,288 Equip. Leasing & Fin Fndn
3,546,785   CLP Foundation
No Data  Assoc of Government Leasing  Financing
No Data
5,496,965 Lease Assistant
No Data
No Data The National Funding Assoc
No Data
No Data*Eastern Association of Equipment Leasing
No Data
3,534,068 Leasing Press
No Data
No Data Equipment Financial Journal

David G. Mayer's Business Leasing News is not included in the Alexa report list as it does not have its own individual site and Alexa finds Patton Boggs, LLP Attorneys at Law.  The rating is not valid as it includes all those who visit and communicate with the law firm.  When Business Leasing News has its own individual web site, it will be included in the Alexa survey.

*It should also be noted that two web sites have their "list serve" posted via their site, meaning their e-mails are counted as a visit to the site, whereas they are "list serve" communication.  These are technically visits to the web site, but primarily to use "list serve."

These comparisons are compiled by Leasing News using Alexa and should be viewed as a "sampling," rather than an actual count from the website itself.  Other than as noted above, we believe the ratings are reflective as most have stayed in the same position, basically, for over a year.

The Alexa tool bar works on most browsers.
They are partnered with Google.

You may download their free tool bar A graph and analysis of the last three months are available.

( Note: the lower the number, the higher you are on the list. It is based on all web sites. Leasing is only a very small part of the various sites such as Yahoo, MSN, Google, etc. )



Classified Ads---Help Wanted

Operations Manager

Operations Manager

Coordinates lease process from inception through pay off. 3+ years proven leasing account management exper.
For more info, click here

Equipment financing for small business.

Sales Representatives

National Machine Tool Financial Corporation |
National Tel-Med Capital | National Business Finance

Sales Reps

Machine tools, construction, medical equip. Top competitive comp. package Fax resume: 847-871-4209 e-mail:
National has operated as an indirect lessor for over 25 years. They are expanding three of their divisions.





The Best, and Worst, State Tax Climates for Business

When it comes to gaining or losing jobs, the Department of Labor (DoL) reports the most mass job relocations occur between U.S. states, rather than jobs moving out of the country entirely. As a result, it is vital that businesses, lawmakers and even citizens understand how their state's business climate and environment compare with others, both regionally and nationally.

A state's business climate is built on taxes. Taxes build the infrastructure, the roads, schools and public services businesses and their employees depend on. Understanding a state's business climate, however, means more than just knowing how much the state collects in taxes. It also means knowing how those taxes are collected. Every state tax law enacted or amended will, in some way, impact that state's ability to compete with other states in the same region and across the country. In this age of global markets, it may even affect a state's international competitiveness as a place to live and do business.

The 2007 edition of the State Business Tax Climate Index (SBTCI), released by the Tax Foundation on Wednesday, is designed to measure the competitiveness of each state's tax system. The SBTCI places more than 100 variables into five component indexes measuring different sectors of the state's tax climate and calculates the state's total score based on the scores of the component indices. The component indexes are: Corporate Tax, Individual Income Tax, Sales Tax, Unemployment Insurance Tax, and Property Tax. The use of component indices allows the tax climates of states with widely varying tax structures to be compared on a level playing field by rewarding strong aspects of the state tax system, such as no individual income tax, and penalizing them on their weaker aspects, such as high sales tax levels.

Based upon these calculations, the ten states having the best tax climate are:

South Dakota
New Hampshire

According to the Tax Foundation's 2007 State Business Tax Climate Index, the ten states having the worst tax climate are:

50. Rhode Island
49. Ohio
48. New Jersey
47. New York
46. Vermont
45. California
44. Nebraska
43. Iowa
42. Maine
41. Minnesota

In the global marketplace, American companies are often at a disadvantage. Not only are they subject to a federal corporate income tax with a top rate of 35 percent, states levy an additional tax burden on companies.

According to the SBTCI, the ideal tax system, regardless of level (local, state or federal), is “simple, transparent, stable, neutral to business activity and pro-growth." Further, good state tax systems levy low, flat rates on the broadest possible bases and treat all taxpayers equally.

The 64 page report is available at:



Cash/Choksi go Kalakane!!!

On the eve of the Loma Prieta California earthquake, ATEL Capital Group Chief Financial Officer Paritosh K. Choksi announces the commencement of Kalakane Capital LLC in Denver , Colorado .

Dean Cash, ATEL's CEO, will provide additional lease financing expertise and capital resources to assure Kalakane is a successful enterprise.

"This is our earthquake emergency disaster facility," Pari Choksi said. "Basically 4,000 square feet ready if we have an earthquake here in San Francisco and cannot operate. We were getting so many requests from Fortune 100 companies, and others, for minority based

lessor transactions, that along with Eliza Cash, we formed this platform to allow themselves as minority owners to qualify for these transactions."

Kalakane Capital LLC is a minority business enterprise for the purpose of allowing ATEL to work with lessees seeking to business with minority business for meeting their federal quota requirements as required in their Federal contracts. Typically they are over $2 million and qualify as true, tax advantaged operating leases.

Choksi said he and Eliza Cash chose Becky Hanley to run the operation in Denver as Vice President, Director of Syndications.

They stole her away from Key Equipment Finance where she was Vice-President of Capital Markets. Prior to that she was a Syndication Sales Representative for CitiCapital Commercial Corporation. She has over ten years in both syndication and indirect originations.

Pari Choksi, President and CEO states of Kalakane, “Becky brings to Kalakane a tremendous amount of leasing experience from both the syndications and originations side of the business. I am confident that she will provide an immediate and consistent impact to growing our business and I look forward to her being an integral part of Kalakane for a long time to come.”

He told Leasing News they also expect business from Atel Capital Group where they have sought bidding from other companies in this field and see a growing demand in this leasing segment.

Kalakane is affiliated with ATEL Capital Group (“ATEL”), an equipment leasing holding company, founded in 1977. ATEL is the ultimate parent of the general manager of a number of public and private equity funds, which currently manage approximately $1 billion in equipment leasing assets.

Kalakane will specialize in leasing a wide variety of essential-use equipment such as manufacturing, transportation, shipping, rail, and mining to primarily investment grade corporations. The primary focus is on transactions over $2MM that qualifies as true, tax advantaged operating leases. Through relationships with bankers, brokers, leasing companies, third party intermediaries and packaging, Kalakane will act as a funding partner by acquiring new or seasoned leases and portfolios.

Atel Capital Group recently on September 11th announced a lease established a lease receivable securitization facility with Bayerische Hypo- und Vereinsbank AG, New York Branch (HVB) for ATEL Capital Equipment Fund X, LLC (Fund) in its capacity as the Fund's Manager. The facility will provide up to $100MM in funding from a commercial paper conduit administered by HVB.

Liquidity provided by the facility is expected to be used to acquire additional leases and equipment. The facility termination date is July 31, 2008.

Mr. Paritosh K. Choksi, ATEL's Chief Financial Officer, stated, “The securitization facility provides an additional source of liquidity for the Fund at a competitive cost. This transaction represents our fourth securitization since 1998. It is also the second $100M transaction we've done with HVB. I am appreciative of the efforts they made in putting together this transaction.”

ATEL Capital Group is one of the largest privately held owned equipment leasing and financial services companies in the United States . Since its founding in 1977, ATEL has priced, structured and arranged over $30 billion of equipment leases. ATEL specializes in leasing low-technology equipment such as manufacturing, shipping, rail, and mining to investment-grade companies. In addition, ATEL provides financing to venture-backed companies through its ATEL Venture, Inc. subsidiary.

For further information, visit or

(Hawaiian word Kala means Cash and Kane means money.
The photograph is contemporary of Chuck Berry, who
is 80 years old today. Paritosh K. Choksi did not have
a photograph available, so thought it appropriate to
salute the octogenarian. editor)

From This Day in American History, October 17, 1989:

1989--We experienced an earthquake of 7.1 in my hometown of Los Gatos at 2:04PM I was in my Chevrolet Suburban, not far from the office, near the University of Santa Clara , and a student on a bicycle in front of me suddenly fell down. At first I thought I hit him, and as he got up, I glanced over and saw two other bicyclists trying to stand, and my car was violently rocking sideways as if the car had been silently blind sided. KCBS was on and announced they felt an earthquake, which later turned out in the Loma Prieta section of Los Gatos . The quake caused damage estimated at $10 billion and killed 67 people, many of who were caught in the collapse of the double-decked Interstate 80 in Oakland , California . We were without electricity and water for several days and sales for the month were the lowest they ever have been in our history as it took business many weeks to recover.

As a sports note, the event is also known as the “World Series Earthquake. Minutes before the start of Game 3 of the World Series billed as the “Battle of the Bay, “ between the Oakland A's and the San Francisco Giants, Candlestick Park was rocked by the Loma Prieta earthquake. the game was postponed and the Series delayed for 11 days. The Oakland Athletics won games three and four for the first Series sweep in 13 years.



Landmark Study Reveals SOX Compliance Issues -

COSO 1992 Control Framework and Management Reporting on Internal Control: Survey and Analysis of Implementation Practices, a landmark research study by the Institute of Management Accountants (IMA), reveals two key cost drivers for public companies complying with Sarbanes Oxley (SOX)
Section 404.

“IMA's study is the first comprehensive study of its kind that goes beyond estimating the cost of compliance. This study helps to identify the real drivers of cost and provides actionable insights for policy makers, regulators and professionals associations,” Paul Sharman, president and chief executive officer (CEO) of the IMA, said in a prepared statement announcing the results. “We have hypothesized for some time that current controls frameworks are inadequate, as they do not allow management practitioners to conduct cost-effective, risk-based assessments covering internal controls over financial reporting, fraud risk, general IT controls, and other areas.”

The study, conducted by professor Parveen P. Gupta of Lehigh University , assessed the views of nearly 400 experienced chief financial officers (CFOs), controllers, internal auditors, and SOX compliance specialists at publicly traded companies. The two key factors identified were a lack of practical management implementation guidance and the incomplete nature of the Committee of Sponsoring Organizations (COSO) 1992 framework in assessing the effectiveness of internal controls over financial reporting (ICoFR). Other key findings include:

Approximately two-thirds of those responding attributed the two key factors as major cost drivers.

More than half of respondents acknowledged that they did not use COSO 1992 to assess IT control effectiveness, in spite of indicating their control assessment was done in accordance with COSO 1992. Almost 52 percent of respondents used COBIT for the critical aspect of their ICoFR assessment.

More smaller companies, 45 percent compared to 35 percent of larger companies, are using a “bottom-up” approach to internal controls rather than a “risk-based” point-of-view, suggesting a skills gap in applying robust risk assessment methods.

Only 38 percent of respondents did not believe that the COSO 1992 controls framework was guiding their internal control assessments, while 62 percent primarily rely on Accounting Standard 2 (AS2), which has become the de facto assessment standard for company management.

Fifty-seven percent of respondents did not believe that the COSO 1992 framework alone was sufficient guidance for determining the effectiveness of internal controls, strongly suggesting that practical assessment methodologies linked to the framework are necessary to assert to the Securities and Exchange Commission (SEC) that an organization has an effective system of internal controls.

“These results suggest that our hypotheses have been proven to a reasonable degree. Now it is time to develop the long awaited assessment guidance so desperately needed by American businesses to cost-effectively comply with SOX while protecting shareholder interests,” Sharman added.

The study was designed to determine the extent to which companies are using COSO's 1992 internal controls framework and identify the factors which inhibit a successful and cost-effective SOX compliance outcome, including high-cost compliance activities, definition and use of “risk based” models, application of risk assessments (fraud, plausible, and inherent risk), integrated audits, IT controls assessments, skills gap issues and other practical areas. The study, COSO 1992 Control Framework and Management Reporting on Internal control: Survey and Analysis of Implementation Practices, includes an Executive Summary that is available free of charge. The full study is available for purchase from IMA at


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

Travelers CEO Jim Case named
Ernst & Young Entrepreneur Of The Year® 2006 Pacific

BURNABY , BC , Jim Case, CEO of The Travelers Financial Group, is the recipient of the Pacific region B2B Ernst & Young Entrepreneur Of The Year® 2006 award. Mr. Case received his award at the gala banquet held at the Vancouver Convention and Exhibition Centre.

Mr. Case was chosen based on his leadership role as CEO of Travelers Leasing Corporation, a member of the Travelers Financial Group of Companies. The company has, since its formation in 1995, achieved outstanding success and phenomenal growth with increase in employees twenty fold from 8 to over 160, annual origination growth from $8 million over $200 million and geographic expansion from British Columbia only to all ten provinces.

“I am honoured and humbled by the award,” said Case following the presentation. “To be chosen among so many outstanding nominees is cause for celebration and circumspection. This recognition is directly attributable to my talented management team and to the ongoing commitment of our employees in going the extra mile to deliver best in class service to our dealer partners and their customers. It is inspiring and rewarding to work with such a motivated and service-driven team who together make Travelers such a phenomenally successful and gratifying company to lead”.

Jim Case serves is CEO for the Travelers Group of companies including Travelers Financial Corporation (Equipment Leasing & Finance), Travelers Automotive Finance (Vehicle Finance) and Travelers Acceptance Corporation (Consumer Finance). Each of the Travelers member companies has developed a sophisticated and meaningful range of financial products and services offered through dealer partners and structured to meet the most demanding requirements – all provided within an independent, flexible, non-bank environment. For more information about Travelers visit

The Ernst & Young Entrepreneur Of The Year® is the first and only truly global award of its kind. It celebrates entrepreneurs who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national, and global programs in more than 125 cities, in over 35 countries, and on six continents. Established in Canada in 1994, the program acknowledges Canadian entrepreneurs who have invested their time, energy and resources in a good idea, grown with it, and inspired others to believe in it. The international recognition of the award positions recipients as world-class entrepreneurs, and provides a benchmark for entrepreneurial excellence. Winners are much-admired leaders in their industries and important role models. The Ernst & Young Entrepreneur Of The Year® was established in Canada in 1994. The program acknowledges Canadian entrepreneurs who have invested their time, energy and resources in a good idea, grown with it, and inspired others to believe in it.


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

Resource America, Inc. Announces Completion of $60 Million Funding of LEAF II

PHILADELPHIA, PA -- -- Resource America, Inc. (NASDAQ: REXI) announces that the public offering of Lease Equity Appreciation Fund II, L.P. ("LEAF II"), which was sponsored by Resource America's subsidiary LEAF Financial Corporation ("LEAF"), was completed. LEAF II raised approximately $60 million and a syndicate of more than 60 broker dealers participated in the offering. This is LEAF's second fund; the first one, LEAF I, raised $17.1 million in gross offering proceeds.

LEAF II owns and manages a diversified portfolio of equipment leases and loans for credit-worthy American businesses. LEAF II's principal objective is to generate regular cash distributions to investors.

Crit DeMent, Chairman and Chief Executive Officer of LEAF, stated, "We are pleased and gratified by the tremendous response we've had to LEAF II. Clearly there was great interest among financial advisors and investors in LEAF II, and we look forward to our future growth and expansion."

LEAF is a commercial finance and equipment leasing company with over $540 million in assets under management as of June 30, 2006.

Resource America, Inc., a specialized asset management company with over $10.5 billion in assets under management as of June 30, 2006, uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the financial services, real estate and equipment leasing industries. For more information please visit our website at or contact Investor Relations at .


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

CIT Declares Dividends for Third Quarter 2006

NEW YORK , -- CIT Group Inc. (NYSE: CIT),

a leading global provider of commercial and consumer finance solutions, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.20 per share on its outstanding common stock. The common stock dividend is payable on November 30, 2006 to shareholders of record on November 15, 2006.

CIT also announced that its Board of Directors has declared quarterly cash dividends of $0.3968750 per share on the Company's Series A preferred stock and $1.2972500 per share on the Company's Series B preferred stock. The preferred stock dividends are payable on December 15, 2006 to holders of record on November 30, 2006.

About CIT

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has $68 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending.

With its global headquarters in New York City , CIT has more than 7,000 employees in locations throughout North America, Europe, Latin America , and Asia Pacific. .


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

CHP Consulting launches ALFA Systems 4.5

CHICAGO ,- CHP Consulting today announced the latest release of its ALFA Systems enterprise software platform for asset finance organizations.

Version 4.5 builds on ALFA's core strengths of end-to-end integration, flexible sales channel support and workflow automation, and demonstrates CHP Consulting's commitment to providing its clients with a long-term solution which stays at the forefront of technological innovation. This release represents more than 100 man-years of development and its many enhancements strengthen ALFA's position as the leading enterprise software platform on the market.

Key areas of functionality include:

Web portals for new business origination;
Improved user-productivity features;
Enhanced workflow and business-process management functionality;
Added support for international asset finance markets;
Further financial and value-added product capabilities; and,
Superior reporting and control.

ALFA Systems meets the requirements of companies operating in the leasing, asset finance, vehicle finance and consumer finance industries. Since Version 1.0, more than 30 companies in the United Kingdom , Europe, North America and Australia have selected ALFA as their core processing platform. ALFA covers the full business lifecycle, from web-based origination and pricing, through in-life processing and customer services, to end-of-agreement asset disposal - all in a single, robust, high-performance application. ALFA is used to finance more than five million assets worldwide, worth an estimated $100 billion.

“What's really exciting about ALFA Systems 4.5 is the range of additional capabilities that address the most important issues facing the industry”, said Andrew Denton, Chief Marketing Officer at CHP Consulting. “The asset finance sector has a global outlook, and our customers and prospects require a system to support their businesses on this scale. At the same time, the industry has an ever-increasing focus on the management of the asset and associated services - particularly in the vehicle sector - as well as strong growth for e-business channels and a growing compliance burden.

“All these issues demand more from a company's technology platform and, with this new release, we've delivered an improved platform already proven to do this on three continents.”

About CHP Consulting

CHP Consulting's ALFA Systems and consultancy services are used by top motor, asset and consumer finance organizations worldwide. ALFA is a fully scalable, enterprise- wide solution for the finance industry, providing end-to-end integration, flexible sales channel support and workflow automation. CHP's class-leading software and in-depth industry experience allow an exceptional delivery record. Key areas of expertise in clude equipment finance, motor finance, fleet management, vendor finance, asset management, consumer finance and structured finance. CHP was founded in 1990 and has offices in London , Chicago and Sydney , Australia . For more information on CHP, visit


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The Alta Group's Latin American Leasing Conference
Attracts Finance Associations Throughout Region

4th Annual Event Set for Nov. 14-15, 2006

FT. LAUDERDALE, FL, -- The Alta Group's 4th Annual Latin American Leasing Conference will be held Nov. 14-15 at the Miami Marriott Biscayne Bay in Miami. The conference has become an important educational event and gathering for leasing executives and associations throughout Latin America . FELALEASE, the Federation of Latin-American leasing companies, will conduct its annual assembly during the meeting, says Ricardo Muñoz-Medina, conference organizer and a principal of The Alta Group.

The Alta Group is a global consultancy specializing in the leasing and finance industry. Its 4th Annual Latin American Leasing Conference, which will be conduced in Spanish, will feature sessions on:

Strategic Challenges, led by a representative of the Inter-American Development Bank;

The Current State of Leasing in Latin America, a panel discussion by representatives from leasing and finance associations in Argentina, Brazil, Chile, Colombia, Peru and Mexico;

The UNIDROIT Model Law on Leasing, led by Rafael Castillo-Triana, a principal with The Alta Group who is Latin America 's representative on the Model Law on Leasing Advisory Board, and a representative of the International Finance Corporation (IFC);

Cross-Border Syndications as a tool for funding and profitability, presented by Edmur Ribeiro, director of leasing for BLADEX in Panama City ;

Vehicle Leasing Development: Experiences Originating Leases, led by Andres De La Parra of BMW Financial Services in Mexico City ;

Lease Origination Challenges: Vendor Programs -- Myths versus Realities, led by Ubaldo Lopez, sales vice president for Latin America with Hewlett Packard Financial Services in Miami ;

Challenges of Funding with Available Tools of Liquidity in the Capital Markets, presented by Mario Ventura Verme of America Leasing in Lima , Peru ;

Attainable Resources in the ECAs (Export Credit Agencies) and Multinational Entities: The Export-Import Bank of the United States' Program of Guarantees and Credits, led by Wayne Gardella, vice president of the Ex-Im Bank in Washington, D.C., and Inter-American Investment Corporation's Experience with Bond Emissions for Credits, presented by an official of IIC in Washington, D.C.;

How to Take Advantage of Local Capital Markets: Experiences Using Fiduciary Bonds to Finance New Operations, led by Alberto Beunza, president of CGM Leasing in Buenos Aires, Argentina; and

The Challenge of Migrating from Financing Leases to Operating Leases, a panel discussion by Agustin Esguerra of Leasing de Occidente in Bogota, Colombia; Arnaldo Rodriguez of CSI Latina in Miami; and Jesus Dillon of Master Lease, a GMAC subsidiary in Monterrey, Mexico.

For more information or to register, please contact Bonnie Johnson at The Alta Group: Phone (801)322-4499, Fax (801)322-5454, or E-mail Please visit to download the program in Spanish.

About The Alta Group

The Alta Group is a global consultancy serving equipment leasing and finance companies, investment professionals, manufacturers, banks and government organizations. Founded in 1992, The Alta Group supports clients in North America; Latin America; Western, Central and Eastern Europe; Australia and China . For more information, visit


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Bank of America Business Capital Provides $1.75 Million
In Acquisition Financing To Ashtead Group Plc

NEW YORK and LONDON - Bank of America Business Capital, one of the world's largest asset-based lenders, announced today that it was co-lead on a $1.75 billion credit facility to Ashtead Group plc (LSE:AHT.L) and its U.S. subsidiary Sunbelt Rentals, Inc. in connection with its $1 billion acquisition of competitor NationsRent Companies, Inc. The acquisition forms the third largest rental equipment company in the United States . The credit facility consists of an asset-based revolver and term loan. Banc of America Securities was co-lead on the syndication of the credit facility. Bank of America also continues to provide letters of credit as well as cash management products and services to Ashtead.

“We selected Bank of America Business Capital to lead this transaction because of its extensive experience in financing equipment rental companies and our long-standing relationship with Bank of America,” said Ashtead CFO Ian Robson. “Their ability to lend against foreign assets and to provide a total capital structure was very important to the success of this deal.”

“Leveraging our international resources, we provided the client with the financial flexibility to continue to implement its growth plans through acquisitions and organically,” said Joyce White, president of Bank of America Business Capital. “This financing continues to provide competitive borrowing costs and fewer, less restrictive covenants.”

Founded in 1947, Surrey, England-based Ashtead Group plc ( is the second largest rental equipment group in the world with more than 650 rental stores in the U.K. , U.S. , Canada and Asia . Ashtead provides rental equipment to more than 250,000 industrial, commerce and local government customers. The company's fleet of rental equipment extends from heavyweight equipment such as backhoes, excavators and forklift trucks, to smaller equipment such as power saws, ladders and small pumps.

Ashtead Group plc is comprised of Charlotte, North Carolina-based Sunbelt Rentals, A-Plant in the U.K. , and Ashtead Technology Rentals, which has offices in the U.K. , Singapore , the U.S. and Canada . Measured by rental revenues, A-Plant is the third largest equipment rental company in the U.K. and Sunbelt Rentals is the third largest rental equipment company in the U.S. Ashtead Technology is a world leader in the rental of electronic survey and inspection equipment to the offshore oil and gas industries in the North Sea, Asia and the Gulf of Mexico .

Bank of America Business Capital is one of the world's largest asset-based lenders, with 20 offices serving the United States , Canada and Europe . It provides companies with senior secured loans, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products. Capital markets and investment banking services are provided by Banc of America Securities LLC, member NYSE/NASD/SIPC, a subsidiary of Bank of America Corporation and an affiliate of Bank of America Business Capital. Visit for more information.

Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit


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Key Equipment Finance Names Pete J. Georgelas SVP & Director of Capital Markets

SUPERIOR, CO. - - Key Equipment Finance, one of the nation's largest bank-affiliated equipment financing companies and an affiliate of KeyCorp (NYSE: KEY), has named Pete J. Georgelas senior vice president and director of Capital Markets within Key Equipment Finance. Mr. Georgelas will manage all Capital Market activities and help the company meet its strategic goals related to trading desk objectives. Mr. Georgelas' office is based at the company's worldwide headquarters outside Boulder , Colorado .

"Pete has been with Key for more than 14 years and has over 25 years of experience in our industry," said Steve Dixon, managing director for Key Equipment Finance's Capital Markets and Lease Advisory Services group. "We are delighted to have him join our leadership team."

Prior to this promotion, Pete was vice president, Inside Sales, Packaging and Syndications for Key's global vendor leasing business. He was also sales manager for StorageTek Financial Services Corp., a privately labeled retail vendor program managed by Key. Within the direct sales organization, he has held positions as Northwest regional sales manager and national sales manager. Prior to Key, Mr. Georgelas worked in various sales and sales management positions for US Bancorp Equipment Finance, Inc., Chrysler Capital Corporation and E.F. Hutton Credit Corporation. Mr. Georgelas earned his bachelor of arts degree from the University of Utah at Salt Lake City .

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets: businesses of all sizes in the U.S. and Canada (from small business to large corporate);

. equipment manufacturers, distributors and value-added resellers worldwide;

. federal, provincial, state and local governments as well as other public sector organizations; and

. lease advisory services for manufacturers' captive leasing and finance companies.

Headquartered outside Boulder , Colorado , Key Equipment Finance manages a $12.6 billion equipment portfolio with annual originations of approximately $5.7 billion. The company has major management and operations bases in Toronto , Ontario ; Albany , New York ; Chicago , Illinois ; Houston , Texas ; London , England ; and Sydney , Australia . The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses,internationally.


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CIT Rail Acquires Bombardier's Rail Car Leasing Business

NEW YORK –– CIT Rail, a unit of CIT Group Inc. (NYSE: CIT) a leading global provider of commercial and consumer finance solutions, today announced the acquisition of Bombardier's rail car leasing business assets. The acquisition was completed on October 2, 2006.

George Cashman, President of CIT Rail, said, “We are very pleased to be able to acquire a portfolio of this quality, both in terms of assets and lessees. This acquisition increases our serviced fleet by almost 15,000 cars, bringing our total portfolio to more than 102,000. The bolt-on nature of this acquisition further leverages our railcar operating lease platform, enabling us to readily integrate the portfolio and provide quality service to our customers.”

Stephen Z. Serepca, Senior Vice President of CIT Rail, said, “CIT continues to maintain one of the youngest and most modern rail fleets in North America with the acquired assets complementing our existing fleet in terms of both car type and age.”

The acquired portfolio adds almost 250 leases, among more than 100 companies, to CIT's existing portfolio. This acquisition not only grows CIT's fleet of rail cars, but also expands CIT's customer base throughout the country. It was structured as a seamless transaction for the companies that previously leased rail cars from Bombardier.

About CIT Rail

CIT Rail provides financial solutions to the bulk freight transportation market place. It supports the North American transportation system by working with freight shippers, receivers, carriers, intermediaries and facility operators across all modes to customize financial solutions for each customer's individual needs. As a full service lessor and owner of one of the youngest, most diversified fleets of rail assets in North America , CIT Rail brings unparalleled asset management expertise and commitment to the transportation sector.

About CIT

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has $68 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its global headquarters in New York City , CIT has more than 7,000 employees in locations throughout North America, Europe, Latin America , and Asia Pacific.


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Bank Quarterly reports—see News Briefs below


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

News Briefs----

Wells Fargo profits rise in 3Q, others feel interest rate squeeze

KeyCorp Reports Third Quarter 2006 Earnings

U.S. Bancorp Reports Record Net Income for the Third Quarter of 2006

National Penn Bancshares, Inc. Reports Third Quarter Net Income

Leesport Financial Corp. Reports 11.4% Growth in Quarterly Earnings Over 2005 and 8.7% Growth in Year to Date Earnings Over 2005 ... Surpasses One Billion in Assets

Sandy Spring Bancorp Reports Third Quarter Results Highlighted by Continued Loan Growth

Sovereign execs emphasize improvements, not sale

Sea Containers Files for Bankruptcy

Bernanke frets about bank regulations

Wholesale prices, industrial production both down sharply
President Bush Signs Bill Exempting CPAs for GLB Requirement

IBM Posts 5 Percent 3Q Revenue Gain $2.2 BB Quarterly Profit,0,3654071.story?

Wal-Mart to buy Chinese chain for $1 billion

What Customers Say And How They Say It

Confidence levels sag in Silicon Valley

Home prices fall, after 4 hot years
Median figure for Bay Area dips from $616,000 to $611,000

Home prices fall across entire region

110-Building Site in N.Y. Sold to Speyer for $5.4 Billion

Lexus ES 350 is sweet treat indeed

Steve Wynn Accidentally Punctures Picasso's Le Reve, worth $139 million...

Midwest Amtrak expansion hailed,0,3699137.

Microsoft to spend $7.5 billion in FY 2007
Microsoft will spend about $7.5 billion in research and development in its 2007 fiscal year, Chief Executive Officer Steve Ballmer said Tuesday in Madrid.

"I would estimate off the top of my head approximately half a billion of that will be spent in Europe ," Ballmer said. The Redmond company's fiscal year ends in June.



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Calendar Events This Day

Alaska Day
Anniversary of transfer of Alaska on October 18,1867 from Russia to the US . The transfer became official on Sitka ' Castle Hill. This is a holiday in Alaska , when it falls on a weekend it is observed on the following Monday.

Black Poetry Day
To recognize the contribution of black poets to American life and culture, and to honor Jupiter Hammon, first black in America to publish his own verse (born October 17, 1711)

Canada : Persons Day
A day to commemorate the anniversary of the 1929 ruling that declared women to be persons in Canada .

China : Birthday of Confucius.

Chocolate Cupcake Day

Day of National Concern about Young People and Violence
Students across America are asked to voluntarily sign a “Student Pledge Against Gun Violence.”

Long Distance Day

Missouri Day
Observed by teachers and pupils of schools with appropriate exercises throughout state of Missouri.

National Support Your local Chamber of Commerce Day
If your company is a Chamber member, make a donation, upgrade your membership, recruit a new member or buy a sponsorship. Join your local chamber of commerce.

The Orphan Train Heritage Society of America Annual Reunion .
Between 1854 and 1929, more than 150,000 homeless children and poor families were transported out of New York City , Boston and Chi­cago aboard trains accompanied by “agents.” Agents for the New York Children's Aid Society arranged for Midwestern families to take the children under a contract agreement to “foster homes.”

Saint Luke: Feast Day
Patron saint of physicians and surgeons and artists, himself a physician and painter, authorship of the third Gospel and Acts of the Apostles is attributed to him. Died about AD68. Legend says that he painted portraits of Mary and Jesus.

Watch A Squirrel Day

World Menopause Day
The World menopause Day challenged calls on every nation to make menopausal health a principal issue in their research, and public health agendas in order to help women prevent unpleasant symptoms that can affect productivity and qualify of life, as well as reduce rates of osteoporosis, heart disease, colon cancer and other aging and hormone-related diseases.



More than half of the coastline of the entire United States is in Alaska .



Today's Top Event in History

    1929 - The Judicial Committee of England's Privy Council ruled that women were to be considered as persons in Canada . Previously, under English common law, women were persons in matters of pains and penalties, but were not persons in matters of rights and privileges.



This Day in American History

    1767 -Boundary between Maryland and Pennsylvania , the Mason Dixon line, agreed upon on this date, a major step in establishing “state” territories.
    1775- Falmouth , the original capital of Maine ( later to be called Portsmith) burned by British
    1776- Col John Glover and Marblehead regiment meet British Forces in Bronx , considered to be the first “Marines .” Glover and 750 soldiers, stationed at Pell's Point, fought to a standstill a British force of more than 4,000 regulars.

    1836-Birthday of Ellen Browning Scripps, who assisted her brother in numerous ways on his way to acquiring the Detroit Evening News and was a Jane-of-all-trades from proof to writing to make it a success; born, London , England . She then turned all of her energies and money to helping her brother Edward who was beginning a newspaper career in Cleveland . Through wise investments in newspapers as well as real estate, she became a multi-millionaire whose philanthropic works included the Scripps Institution of Oceanography and Scripps Memorial Hospital in La Jolla (both with Edward) and then singly endowed the Scripps College for Women in Claremont, CA., and helped establish the San Diego Zoo.
    1889-Birthday of author Fannie Hurst, Hamilton , Oregon She published 17 novels, nine volumes of short stories, three plays, and hundreds of articles. She was a long-time friend of Eleanor Roosevelt and supported the New Deal.
    1842-The first telegraph cable was laid by Samuel Morse in New York Harbor between Battery and Governors Island .. The next day, the cable stopped working when a ship, in raising its anchor, had caught and wrecked 200 feet of it.. Another cable was laid the following year for commercial use by Samuel Colt. It was insulated with cotton yarn, beeswax, and asphaltum encased in a lead pipe, and connected New York City with both fire Island and Coney Island.
    1863-Union General Daniel Sickles returns to visit his old command, the Third Corps of the Army of the Potomac . He was recovering from the loss of his leg at Gettysburg , and the visit turned sour when the army's commander, General George Meade, informed Sickles that he would not be allowed to resume command until he completely recovered from his injury at Gettysburg , Meade posted Sickles' troops at the left end of the Union line. The Army of the Potomac was arranged in a three-mile long, fishhook-shaped line on the top of Cemetery Ridge and Culp's Hill. On the morning of July 2, Sickles noticed that just in front of his position was a section of high ground. In his estimation, this rise could be used by the Confederates to shell the Union position. Sickles expressed confusion over his orders and three times Meade explained that Sickles was to hold the end of Cemetery Ridge. Sickles was unhappy with the explanation, failing to understand that Meade was fighting a defensive battle. He moved his corps forward anyway, and the move nearly cost the Union the battle. A furious Meade ordered Sickles to withdraw his troops, but the Confederates were already attacking. After heavy losses, the Third Corps moved back to Cemetery Ridge. Despite his wound, Sickles hurried back to Washington to conduct damage control. One of his first visitors was President Lincoln. Sickles was one of the few Democrats who welcomed Lincoln to Washington in 1861, and Lincoln remembered that gesture. Sickles gave his account of the battle and justified his move. He even claimed that his action prevented Meade from retreating and therefore prevented a Union defeat. This began a war of words between Meade and Sickles that lasted the rest of their lives. When the reports on the battle were filed that fall, Sickles did not fare well. Many, such as General Governor K. Warren and General-in-Chief Henry Halleck, blasted Sickles for his actions.
    1867- the American flag flew for the first time in Alaska , marking the formal transfer of this massive northern territory from Russia to the United States . Separated from the far eastern edge of the Russian empire by only the narrow Bering Strait, the Russians had been the first Europeans to significantly explore and develop Alaska . During the early 19th century, the state-sponsored Russian-American Company established the settlement of Sitka and began a lucrative fur trade with the Native Americans. However, Russian settlement in Alaska remained small, never exceeding more than a few hundred people. Seeing the giant Alaska territory as a chance to cheaply expand the size of the nation, William H. Seward, President Andrew Johnson's secretary of state, moved to arrange the purchase of Alaska . Agreeing to pay a mere $7 million for some 591,000 square miles of land-a territory twice the size of Texas and equal to nearly a fifth of the continental United States-Seward secured the purchase of Alaska at the ridiculously low rate of less than 2¢ an acre. He was seriously criticized for the purchase and it took Congress over a year to approve as people called the land “nothing but an ice box.” The museum in Juneau , Alaska has a full collection of historic events.
    1870-Chew Tilghman of Philadelphia , PA., received a patent for his invention of a sandblasting process for cleaning, engraving, cutting and boring glass, stone, metal and other hard substances.
    1873-Football rules were formulated at a meeting held in New York City and attended by delegates from Columbia , Princeton, Rutgers , and Yale universities.
    1898-The United States flag was raised in Puerto Rico .
    1890 – John r. Owen, Jr. is first man to run 100 yard dash in under 10 seconds.
    1900-Birtdhay Lotte Lenya (born in Vienna as Karoline Wilhelmine Blamauer) , Austrian actress-singer; a star of the musical stage in pre- Hitler Berlin before fleeing to the United States . She popularized much of the music of her first husband's music, composer Kurt Weill. She starred in the stage version (1928) and then film (1931) of The Threepenny Opera. Following Weil's death and the increase of Hitler's anti-Jewish campaign, LL immigrated to the U.S. and led a revival of Weil's works including the Three Penny for which she won the 1956 Tony award. She appeared in Broadway production of Cabaret (1966), in such films as The Roman Spring of Mrs. Stone (1961) , but perhaps best known to American audiences as the Russian nurse Roas Klebb with a knife in her shoes in "From Russia with Love" (1964).
    1904-Birthday of A.J.Liebling, American journalist and author who said “Freedom of the press belongs to those who own one.” Abbott Joseph Liebling was born at New York , NY , and died there Dec 28, 1963.
    1906 - A hurricane struck South Florida drowning 124 persons stranded in the Florida Keys .
    1906-Birthday of James David Brooks, born at St. Louis , MO. , during the Depression Brooks worked as a muralist in the Federal Art Project of the works Progress Administration. His best-known work of that period was “Flight,” a mural on the rotunda of the Marine Air Terminal at La Guardia National Airport in New York . It was painted over during the 9150s, but resorted in 1980. Brooks served with the US Army from 1942 to 1945. When he returned to New York his interest shifted to abstract expressionism. His paintings were exhibited in the historical “Ninth Street Exhibition” as part of the Museum of Modern Arts exhibits “Twelve Americans” and “New American Painting,” among others. He died March 8, 1992 at Brookhaven , NY .
    1908-Birthday of author/writer Marshall Winslow Stearns, Cambridge , MA
    1918-Birthdayof pianist/songwriter Bobby Troup, Harrisburg, PA
    1919-Singer Anita O'Day born, Chicago , IL .
    1922-Robin Hood , starring Douglas Fairbanks, opened at Grauman's Egyptian Theater in Hollywood . Searchlights crossed the sky for the first time at a Hollywood premiere. As a publicity stunt two weeks before the premiere, Fairbanks had posed atop a New York hotel in costume, with bow and arrow, for photographers. He and several others shot arrows from the building and accidentally injured a man through an open window (the man agreed not to press charges).
Fairbanks was born in Denver , Colorado , in 1883 and began appearing onstage in 1901. He married in 1907 and had one son, Douglas Fairbanks, Jr., but the marriage ended in divorce. By 1915, he had switched to the fledgling film industry, where he was regularly cast as a swashbuckling hero. By 1918, he had appeared in more than 24 films. In 1919, Fairbanks teamed up with fellow stars Charlie Chaplin and Mary Pickford and director D.W. Griffith to launch the United Artists Corporation.
The following year, Fairbanks and Pickford married. As a wedding present for Pickford, Fairbanks bought an estate with 22 rooms on 18 acres, and Beverly Hills ' first swimming pool. The couple dubbed the property "Pickfair."
Meanwhile, Fairbanks continued to star in the United Artists' films, including The Three Musketeers (1921), Robin Hood (1922), and The Thief of Baghdad (1924). Unlike many other early stars, Fairbanks successfully made the transition to sound, but his career faded as he aged. In 1933, he and Pickford divorced, and in 1936 he married the former Lady Sylvia Ashley, a chorus girl who had married an English lord. He died in 1939. 1961-- the movie version of the Broadway musical West Side Story opened at New York 's Rivoli Theater. The musical, featuring music and lyrics by Leonard Bernstein and Stephen Sondheim, retold the story of Romeo and Juliet but set the action in contemporary New York . In the story, star-crossed lovers Maria and Tony are torn between their feuding cultures: Maria's brother leads a Puerto Rican gang that is at odds with Tony's Anglo gang. The movie won 10 Academy Awards, including Best Picture, Director, and Supporting Actor and Actress.
    1926—Singer/guitarist/song writer Charles Edward Anderson “Chuck” Berry born St. Louis , MO
    1929 - The Judicial Committee of England's Privy Council ruled that women were to be considered as persons in Canada . Previously, under English common law, women were persons in matters of pains and penalties, but were not persons in matters of rights and privileges.
    1930 -A big, early season lake effect snowstorm on the lee shores of Lake Erie and Ontario dumped 48 inches of snow just south of Buffalo , NY and 47 inches at Gouveneur , NY
    1935- Tommy Dorsey cuts “ I'm Getting Sentimental Over You.”
    1941 -- Humphrey Bogart movie "The Maltese Falcon" is released, from the novel of the same name by Dashiell Hammett.
    1942- Vice. Adm. William F. Halsey replaces Vice Adm. Robert L. Ghormley as commander, South Pacific. The man nicknamed "Bull" by the press began his military career as a destroyer commander during World War I. Halsey was made a captain at the age of 53, earned his naval aviator's wings, and was promoted to vice admiral in 1940. But it was the bombing of Pearl Harbor that would mark out his future for him. Halsey's task force was one of the few functioning battle groups left after the destruction of so much of the American fleet, placing him in the position of making the unpredictable and aggressive strategic decisions for which he would become renowned.
    1945-Paul Robeson, African-American actor, singer, athlete and activist, receives NACCP Spingarn Medal
    1950---Top Hits
Goodnight Irene - The Weavers
All My Love - Patti Page
Harbor Lights - The Sammy Kaye Orchestra (vocal: Tony Alamo)
I'm Moving On - Hank Snow
    1953- Willie Thrower becomes the first black NFL quarterback in modern times.
(Blacks played football with whites during the reconstruction period, following the Civil War).,3858,4395488,00.html
    1954 "The Week in Religion" aired for the last time over Dumont television. First broadcast in March 1952, this ecumenical Sunday evening panel show divided the hour into 20-minute segments each for Protestant, Catholic and Jewish news.
    1956 - Football commissioner Bert Bell turned thumbs down on the use of radio-equipped helmets by NFL quarterbacks.
    1956- Martina Navratilova, Czech- born, U.S. tennis champion.
    1957- “Colt 45,” Wade Preston starred in this ABC western as Christopher Colt, son of the inventor of the Colt revolver, and a government agent. Character actor Donald May replaced Preston and played the role of Sam Colt, Jr., Christo­pher's cousin, until early 1960 when Preston returned to the show. My father Lawrence Menkin wrote several of these episodes. He basically said the actor Wade Preston never caught on and theme was pretty lame and need to be “wild,” but the producer would hear none of it, he said.
    1958—Top Hits
It's All in the Game - Tommy Edwards
Rock-in Robin - Bobby Day
Tears on My Pillow - Little Anthony and The Imperials
Bird Dog - The Everly Brothers
    1961- The movie version of the Broadway musical West Side Story opens at New York 's Rivoli Theater. The musical, featuring music and lyrics by Leonard Bernstein and Stephen Sondheim, retold the story of Romeo and Juliet but set the action in contemporary New York . In the story, star-crossed lovers Maria and Tony are torn between their feuding cultures: Maria's brother leads a Puerto Rican gang that is at odds with Tony's Anglo gang. The movie won 10 Academy Awards, including Best Picture, Director, and Supporting Actor and Actress.
    1961- trumpeter Wynton Marsalis born New Orleans , LA.
    1961 - "Le Bateau", by French painter Henri Matisse, went on display in the Museum of Modern Art in New York City . The painting attracted large numbers (over 100,000) of viewers. For 47 days, nobody realized that "Le Bateau" was hanging upside down.
    1966-Top Hits
Reach Out I'll Be There - Four Tops
Last Train to Clarksville - The Monkees
Psychotic Reaction - Count Five
Blue Side of Lonesome - Jim Reeves
    1967 –American League votes to allow Athletics to move from Kansas City to Oakland and expand the league to 12 teams in 1971 with Kansas City and Seattle teams.
    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.
    1968 - Circus Circus Casino opened in Las Vegas “to attract all members of the family.” The football-field-sized casino and big top was a giant pink and white oval shaped circus tent across from the Riviera Hotel. To separate the gamblers from their kids, as required by law, a second level contained midway games and attractions for the tykes, but still in view of the circus acts. Circus Circus in Reno , Nevada is very popular with families, also due to the low prices of the rooms.
    1971 - The final issue of "Look" magazine was published. It had been a must-see publication
    1972- Overriding President Nixon's veto, Con­gress passed a $25 billion Water Pollution Control Act.     1974—Top Hits
I Honestly Love You - Olivia Newton-John
Nothing from Nothing - Billy Preston
Then Came You - Dionne Warwicke and Spinners
Please Don't Stop Loving Me - Porter Wagoner and Dolly Parton
    1974- Chicago Bull Nate Thurmond becomes 1st in NBA to complete a quadruple double-22 pts, 14 rebounds, 13 assists and 12 blocks.
    1975-Simon and Garfunkel reunite on "Saturday Night Live."
    1976 - No. 1 Billboard Pop Hit: "If You Leave Me Now," Chicago . The song is the group's 11th top 10 hit and the first to go to No. 1.
    1977-One of the more popular black rock and roll acts this year is the Brothers Johnson (George and Louis). Their "Strawberry Letter 23" is certified gold on this date, having recently hit Number One on the R&B chart and #5 on the pop chart.
    1977 - Reggie Jackson made history and earned the nickname, Mr. October. Regg-a-roo (as Howard Cosell called him) hit three home runs on three successive pitches. He lead the New York Yankees to an 8-4 thrashing of the Los Angeles Dodgers and rookie manager Tommy Lasorda in Game 6 of the World Series. Three different pitchers served up the gopher balls to Jackson . The New York Yankees won the series, 4 games to 2; their first Series title in 15 years.
    1981-Though it yielded only one minor hit single in "Backfired," "Koo Koo," the solo album by Blondie's Deborah Harry, goes gold today
    1982—Top Hits
Jack and Diane - John Cougar
Who Can It Be Now? - Men at Work
Eye in the Sky - The Alan Parsons Project
I Will Always Love You - Dolly Parton
    1983 - Kenny Rogers and Dolly Parton received some gold to add to their collections -- for their smash, " Islands in the Stream".
    1986 - Huey Lewis and The News had the number one album in the U.S. "Fore" was perched at the pinnacle of popdom for one week. "Fore" featured these tracks: "Jacob's Ladder", "Stuck with You", "Whole Lotta Lovin'", "Doing It All for My Baby", "Hip to Be Square", "I Know What I Like", "I Never Walk Alone", "Forest for the Trees", "Naturally" and "Simple as That".
    1987 - Thunderstorms in northeastern Texas produced golf ball size hail at Atlanta , along with wind gusts to 86 mph, and four inches of rain. Damage from the storm was estimated at more than a million dollars. Sunny and mild weather continued across much of the rest of the nation.
    1988- “Roseanne” appears on TV.. This comedy showed the blue-collar Conner family trying to make ends meet. Rosanne played wise-cracking Roseanne Con­ner, John Goodman played her husband Dan and Laurie Metcalf played her sister Jackie. The Conner children were played by Sara Gilbert (Darlene), Alicia Goranson and Sarah Chalke (Becky) and Michael Fishman (D.J). The last episode aired Nov 14, 1997 but it remains popular in reruns.
    1988 - Eight cities in the southwestern U.S. reported record high temperatures for the date, including Red Bluff CA with a reading of 96 degrees.
    1989 - Unseasonably cold air began to invade the central and eastern U.S. Light snow fell across northern Maine , and snow was also reported in the Great Lakes Region, including the Chicago area. Bismarck ND was the cold spot in the nation with a low of 9 degrees above zero. Five cities in Florida reported record high readings for the date, as temperatures warmed above 80 degrees. Miami FL reported a record high of 90 degrees.
    1989 -Hurricane Jerry made landfall on the upper Texas coast, the latest ever for a storm in this region. The center of this very small storm passed closest to Galveston , TX which reported sustained winds of 75 mph with gusts to 100 mph
    1990---Top Hits
Praying for Time - George Michael
I Don't Have the Heart - James Ingram
Ice Ice Baby - Vanilla Ice
Friends in Low Places - Garth Brooks
    1991 -3.9 inches of snow fell at Rochester , MN the greatest ever so early in the season
    1995- The Houston Oiler football gave the world a view of family values. Houston Oiler David Williams missed a game against the New England Patriots to stay with his wife Debi, the day after she gave birth to their son Scot Cooper. The offensive linesman was docked $110,000 for the missed game. "Whatever the fine, it's money well spent," said Williams. "I don't regret what I've done." In a poll, 9 out of 10 football fans backed his decision. He had tried to make the game, but was not able to make the last plane out of Houston , plus there was fog in New York delaying other planes. Houston owner Bud Adams insisted Williams made the wrong decision
    1996-The American Baskeball League, a new professional league for women, opened its inaugural season with three games. The New England Blizzard defeated the Richmond Rage, 100-73, the Columbus Quest beat the Seattle Reign, 82-75, and the San Jose Lazers took the measure of the Atlanta Glory, 78-70. The Colorado Xplosion and the Portland Power were idle on the league's first night.
    2004 After 5 hours, 49 minutes and 471 pitches, the Red Sox outlasts the Yankees, 5-4, in Game 4 of the league championship. Boston's DH David Ortiz, who is the first player in baseball history to hit two walk-off home runs in during the postseason, ends the longest game in ALCS series history at 1:22 a.m. with a two-out single into center scoring Johnny Damon from second in the 14th inning at Fenway Park.

World Champions This Date

    1977 New York Yankees



Baseball Poem

(With apologies to Ernest Lawrence Thayer)

By Dick Flavin (all rights reserved)

The outlook wasn't brilliant for the Red Sox nine that day,
The score stood four to two with but one inning left to play.
So when Stephens died at first and Tebbetts did the same
A pallor wreathed the features of the patrons of the game.

A straggling few got up to go, leaving there the rest
With he hope that springs eternal within the human breast.
They thought if only Teddy could get a whack at that—
They'd put even money now with Teddy at the bat.

But Dom preceded Teddy and Pesky was on deck.
The first of them was in a slump. The other was a wreck.
So on that stricken multitude a deathlike silence sat,
For there seemed but little chance of Teddy's getting to the bat.

But Dom let drive a single, to the wonderment of all,
And Pesky, of all people, tore the cover off the ball.
When the dust had lifted, and they saw what had occurred,
There was Johnny safe on second and Dominic on third.

Then from that gladdened multitude went up a joyous yell,
It rumbled in the mountains and rattled in the dell.
It struck upon the hillside and rebounded on the flat,
For Teddy, Teddy Ballgame, was advancing to the bat.

There was ease in Teddy's manner as he stepped into his place,
There was pride in Teddy's bearing and a smile on Teddy's face.
And when, responding to the cheers he lightly doffed his hat,
(I'm making that part up)
No stranger in the crowd could doubt 'twas Teddy at the bat.

Ten thousand eyes were on him as he wiped his hands with dirt,
Five thousand tongues applauded as he wiped them on his shirt.
Then when the writhing pitcher ground the ball into his hip,
Defiance gleamed in Teddy's eyes, a sneer curled Teddy's lip.

And now the leather covered sphere came hurtling through the air,
And Teddy stood a-watching it in haughty grandeur there.
Close by the sturdy batsman the ball unheeded sped.
“That ain't my style,” said Teddy. “Strike one!” the umpire said.

From the benches black with people went up a muffled roar,
Like the beating of the storm waves on the stern and distant shore.
“Kill him! Kill the umpire!” someone shouted on the stand,
And it's likely they'd have killed him had not Teddy raised his hand.

With a smile of Christian charity great Teddy's visage shown.
He stilled the rising tumult and bade the game go on.
He signaled the pitcher, and once more the spheroid flew.
But Teddy still ignored it, and the umpire said, “Strike two!”

“Fraud!” cried the maddened thousands, and the echo answered fraud.
But one scornful look from Teddy and the audience was awed.
They saw his face grow stern and cold, they saw his muscles strain,
And they knew that Teddy wouldn't let that ball go by again.

The sneer is gone from Teddy's lip; his teeth are clenched in hate.
He pounds with cruel vengeance his bat upon the plate.
And now the pitcher holds the ball, and now he lets it go,
And now the air is shattered by the force of Teddy's blow.

Oh, somewhere in this land of ours the sun is shining bright,
The band is playing somewhere, and somewhere hearts are light,
And somewhere men are laughing, and somewhere children shout.
And they're going wild at Fenway Park 'cause Teddy hit one out!

First recited by Dick Flavin for Ted Williams, Dom DiMaggio and Johnny Pesky at Ted's home in Hernando , Florida , October 23, 2001.

Repeated at Memorial Tribute to Ted Williams
Fenway Park , Boston , Massachusetts

Leasing News Baseball Poetry Collection




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