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EFD Credit Officer III
Walnut Creek, CA

You will underwrite equipment finance and lease transactions primarily using credit scoring systems. Requires 5 years lending experience including underwriting.
CLICK HERE for a detailed description and resume submission info.

Visit, for more information. Bank of the West and its subsidiaries are equal opportunity/affirmative action employers.

Monday, October 1, 2007


Job Wanted: Sales Manager / Senior Management / Syndicator
      Seeking Assistance
   Online bank NetBank closed by U.S. regulators
FDIC Approves Assumption of Netbank's Insured Deposits
      Top Stories--September 24-28
   Classified Ads --- Help Wanted
Leasing 102 by Mr. Terry Winders, CLP
      Damascus Bank to Acquire Leasing Company
   Fabian pleads not guilty in $32M equipment leasing fraud scheme
CapNet Ranked 5th Best Place to Work in LA
      USA Mercury Capital Ranks No. 196 on the 2007 Inc. 500
    News Briefs---
    This Day in American History
Baseball Poem
        Daily Puzzle

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



Classified Ads: Sales Manager / Senior Management / Syndicator

Sales Manager

Atlanta, GA
Strong sales and leadership skills; demonstrated with sales training and sales performance. Lead team in both regional and national operations and developed marketing programs. Email:
[ Resume ]

Senior Management

Atlanta, GA
Strong sales and leadership skills; demonstrated with sales training and sales performance. Lead team in both regional and national operations and developed marking programs. Email:

Northern California
"Available soon" CLP - Director of Customer Finance for Fortune 500 manufacturer. Program development, credit, closing, sales training, portfolio mgt. email: "

Philadelphia, PA
27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries. email:

Syracuse, NY
Int. equip. leasing exec. 25 yrs global P&L sr. mngt., including corporate turnarounds, strategic planning, new biz dev., structure finance, contract neg., vendor leasing specialist. Email:


Overland Park, KS
Top Syndicator from single deal to portfolios. 20+ yrs exp. Available for contract work or full time position. Nationwide contacts. E-mail:

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

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



Seeking Assistance

Seeking Assistance - check processing advice: I volunteer for several non-profits and after their major fund raising events these organizations are swamped with checks that take weeks and sometimes months to process. Some simply pay a fee to a third party (like a bank) to handle processing. Background: I recall in the early 1990's visiting a company that financed insurance premiums for commercial clients. This firm scanned all their checks through an automatic document feed scanner. The scanner captured the images and also created a file of the payee, routing number, bank account number, check number, check amount, and the client's account number for their finance contract. That file was then downloaded to their accounting system for posting and to their bank for ACH collection. Need: I am seeking similar software or advice on how to help these folks automate. I know the solution is out there and suspect several readers will chuckle at this problem as they already solved it years ago. I'm looking to save some years. (see and Please respond to Thank you,

David Rabinovitz
Phone (617) 281-0710



### Pres Release ##############################

Online bank NetBank closed by U.S. regulators

FDIC to oversee customers' access to insured funds

U.S. banking regulators shut down a Georgia-based online bank on Friday due to high levels of mortgage-related losses.

The Office of Thrift Supervision closed down NetBank Inc.

NTBK 0.07, -0.01, -13.9%), a thrift with $2.5 billion in assets, and appointed the Federal Deposit Insurance Corp. as receiver.

The OTS said the bank experienced significant losses beginning in 2006 due to defaults on loans sold, weak underwriting, poor documentation, a lack of proper controls and failed business strategies.

It was only the second bank failure in the past three years.

The FDIC said ING Bank has agreed to assume $1.5 billion of the failed bank's insured deposits.

NetBank had about $109 million in 1,500 deposit accounts that exceeded the federal deposit insurance limit of $100,000. Those customers will become creditors of NetBank's receivership, the FDIC said.

FDIC Chairman Sheila Bair said NetBank customers should have confidence that they will have access to insured funds "in a timely and orderly manner."

The bank did not have any physical branches and was an Internet-only institution, the FDIC said. Depositors of NetBank will automatically become depositors of ING Bank, the regulator said.

The president of the American Bankers Association said the expected losses from the FDIC's insurance fund amount to only two-tenths of 1 percent of the $52 billion fund.

"Insured depositors should know that their money is safe," said ABA president Edward Yingling in a statement.

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

FDIC Approves The Assumption of The Insured Deposits of Netbank, Alpharetta, Georgia

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved the assumption of the insured deposits of NetBank, Alpharetta, Georgia, by ING Bank, fsb, Wilmington, Delaware.

NetBank, with $2.5 billion in total assets and $2.3 billion in total deposits as of June 30, was closed today by the Office of Thrift Supervision, and the FDIC was named receiver.

The failed bank was an Internet bank and did not have any physical branches. Depositors of NetBank will automatically become depositors of ING Bank.

Over the weekend, customers can access their money by writing checks, or by using their debit or ATM cards. Checks drawn on the bank that did not clear before today will be honored up to the insured limit. Starting on the morning of Monday, October 1, customers will have full access to their insured deposits via the Internet and for the foreseeable future should continue to utilize NetBank's current Website to transact banking business.

ING Bank has agreed to assume $1.5 billion of the failed bank's insured non-brokered deposits for a one percent premium and will purchase $724 million of assets. NetBank had approximately $109 million in 1,500 deposit accounts that exceeded the federal deposit insurance limit. While these customers will have access to their insured deposits, they will become creditors of the receivership for the amount of their uninsured funds.

In addition to continued access to their insured deposits, depositors of NetBank with deposits in excess of the insurance limits will also receive an immediate payment of 50 percent of their uninsured balance from the FDIC as receiver.

NetBank also had approximately $744 million in brokered deposits that are not part of today's transaction. The FDIC will pay the brokers directly for the amount of their insured funds.

"When a bank fails, it touches almost every office and division in the corporation," said FDIC Chairman Sheila C. Bair. "As chairman, it makes me proud to see the hard work and dedication demonstrated by staff. Since we began insuring banks in 1934, not a single depositor has lost a penny of insured deposits. Customers of NetBank should have confidence and security knowing that they will have access to their insured funds in a timely and orderly manner."

Customers with questions about how deposit insurance works or who would like more information concerning the failure can visit NetBank's Website at; the FDIC's Web site at; or call toll-free at 1-888-256-6932. While the toll-free number will be operational 24 hours a day, seven days a week, customers are encouraged to call before midnight, Eastern Daylight Time, if possible.

It is important to note that neither the FDIC as receiver nor ING Bank as the acquiring institution will e-mail customers of NetBank asking them to validate their deposits or to request personal, confidential information, such as account numbers, Social Security Number, driver's license number, etc. If customers receive e-mails asking for such personal information, they should consider them to be fraudulent in nature and should not respond.

The FDIC entered into a Loan Purchase Agreement with EverBank, Jacksonville, Florida, to purchase certain assets of NetBank. EverBank will purchase about $700 million of mortgages held by NetBank. The FDIC will retain the remaining $1.1 billion in assets for later disposition, including NetBank's leasing division, NetBank Business Finance which will continue operations. Loan customers should continue to make payments as usual.

The FDIC estimates the cost of this transaction to its Deposit Insurance Fund to be approximately $110 million. NetBank is the second FDIC-insured bank to fail this year and the first in Georgia since AmTrade International Bank, Atlanta, Georgia, was closed on September 30, 2002.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,615 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at, by subscription electronically (go to and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-81-2007

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



Top Stories--September 24--September 28

Here are the top ten stories most “opened” by readers last week:

(1) NetBank Business Finance to close?

(2) Galloway: “We're taking applications, funding leases...”

(3) First Sound Bank buying leasing company

(4) Lease/Finance Calculators On Line

(5) Charlie Lester on Galloway/Randall

(6) Just Released! 2007 Equipment Finance/Leasing Compensation Survey

(7) Sales Make it Happen --- Jeffrey Taylor, CLP
"Excerpts from his new book"

(8) First Horizon to become Internet bank

(9) GATX Corporation Announces Formation of Strategic Sales Team

(10) UAEL Volunteer of the Month-Bob Teichman, CLP





Leasing Industry Help Wanted

EFD Credit Officer

EFD Credit Officer III
Walnut Creek, CA

You will underwrite equipment finance and lease transactions primarily using credit scoring systems. Requires 5 years lending experience including underwriting.
CLICK HERE for a detailed description and resume submission info.

Visit, for more information. Bank of the West and its subsidiaries are equal opportunity/affirmative action employers.

Funding/Lease Processor

Funding/Lease Processor
Los Angeles, California

Organized, detail person, 1 yr min. Brokering/discounting exp. Unlimited career growth.Contact:

Taycor has been in business for over 10 years with access to every major funding source.



Leasing 102

by Mr. Terry Winders, CLP


The most difficult subject to write about is sales compensation. Clearly sales want more and management wants less. Where is the middle ground? It is hard to say because it depends on so many factors such as size of transaction, markets serviced, margin capabilities, volume requirements, ease or difficulty in reaching the market, and perhaps the most important …competition.

There is a great difference between an order taker and a professional sales person. The sad issue is that about the time a salesperson learns how to sell a lease, obtains a CLP and really knows the product called leasing, in its entirety, they move on to sales management. We do not grasp that there are a large number of professional sales persons that do not want to take on other jobs just to make more money. But we force them to do that by not compensating them properly or putting a cap on how much they can make. I have even seen companies increase the volume requirement because some sales people look to be making more money than management.

Good compensation is a base strong enough to help in the lean months and not so strong as to allow poor performers to stick around. Plus a good commission tied to margin, term and credit quality. I still like commissions instead of bonuses because individual performance should be encouraged and cultivated. Bonuses tend to be tied to annual performances of the group and usually to the ability of management to perform on funding and credit turn around time. And, worst of all, focusing on the wrong markets and spending too little time analyzing company performance.

Good management of the sales effort comes from controlling and using commissions to direct the selling effort. By increasing the basic commission in one area and decreasing it another you encourage your sales staff to go after the best markets. By tying the commissions to the margin you encourage sales to maximize rates. By tying the commissions to the lease term you keep the commissions in direct proportion to real margins. When the company's objectives and the sales objectives are in the same direction, you have a better chance of being successful.

To create and maintain a strong consistent sales force you will need to offer some additional incentives so a salesperson can show his peers badges of success. Sales needs recognition almost more than money! Banking has proved this with the hundred or so titles they pass out instead of money. Titles, special recognition, trips, president clubs, achievement clubs, prizes and bonuses help a sales person to hold their head up high and walk around with their friends who have chosen to climb the corporate ladder to higher social status.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at or 502-327-8666.
He invites your questions and queries.

Previous #102 Columns:


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


Damascus, Maryland, Damascus Community Bank (“Damascus”) announced today that it has reached an agreement to purchase Chesapeake Industrial Leasing Co., Inc. (“Chesapeake”) located in Baltimore, Maryland. The acquisition, subject to regulatory approval, is expected to be completed not later than November 2007.

Cynthia Cervenka, President and Chief Executive Officer of Damascus stated, "The pending acquisition of Chesapeake meets our strategic initiatives of continuing to expand our revenue base, diversify our income sources and enhance our available financial services for small to medium sized businesses in the mid-Atlantic area. We have had a very successful working relationship with Gordon Hill and the Chesapeake staff since March 2006, and we believe that the combination of their expertise and our additional contacts and commitment to the business will be mutually rewarding."

Gordon Hill, President of Chesapeake, commented, "Most people with whom I deal know me for my directness, and the pending sale of Chesapeake to Damascus is right for our customers, partner financial institutions and our team members. Our staff has developed a very good working relationship with Damascus, and we believe that,

together, we can build upon that base to make an even better contribution to the bank."

Chesapeake has been in business for over twenty-five years originating and brokering leases for all sized businesses primarily in the mid-Atlantic region. Their leases provide financing for essential business equipment such as computers, construction, network systems, office furniture and design systems, communication and special situation equipment. In the acquisition, Damascus Community Bank expects to acquire the portfolio and servicing rights to approximately $57 million in lease receivables.

Chesapeake Industrial Leasing Co. will continue to be managed in transition by its current president, Gordon Hill, with assistance from Rod Reed at Damascus Community Bank.

Opened in July 1988, Damascus Community Bank is locally owned and managed. Damascus Community Bank has five financial services offices; three in Montgomery County, Maryland; two in Frederick County, Maryland with approval to build a new office in Mt. Airy, Carroll County, Maryland. At June 30, 2007 Damascus had consolidated assets of approximately $170 million, deposits of $144 million, and stockholders' equity of $21 million.

Garland McPherson and Associates, Inc. served as financial advisor and Rosenberg, Martin, Greenberg, LLP served as legal counsel to Chesapeake Industrial Leasing Co., Inc. in the transaction. Feldman Financial Advisors, Inc. served as financial advisor and Kennedy & Baris, LLP served as legal counsel to Damascus Community Bank in the transaction.



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

Fabian pleads not guilty in $32M equipment leasing fraud scheme

Nonprofit executive Alan B. Fabian, who faces federal charges of a $32 million equipment leasing scheme, pleaded not guilty to all charges against him Friday.

Fabian's 23-count indictment charges him with mail fraud, money laundering, bankruptcy fraud, perjury and obstruction of justice. The indictment claims that two firms where Fabian was an executive struck deals to sell and lease back $32 million of computer equipment.

But the grand jury alleges that in some cases, the companies did not buy the equipment, and in others, they bought equipment worth much less than the lenders were on the hook for, leaving lenders without collateral when Fabian defaulted on the leases.

The grand jury alleges Fabian used the money to buy beach property, travel on jets and set up the nonprofit Centre for Management and Technology, where he is chairman.

Fabian, 43, also lied in bankruptcy proceedings for his former firm, the indictment claims.

The arraignment lasted only a few minutes. Dressed in a dark suit, Fabian answered the few questions asked of him clearly and confidently.

Fabian was represented at the arraignment by federal public defender James Wyda. Previously, he was represented by criminal defense attorney David Irwin.

Fabian didn't answer questions after the hearing. Wyda said he had no immediate comment on the case.

Fabian faces a maximum sentence of 20 years in prison for each of the nine counts of mail fraud; 10 years in prison for each of the nine counts of money laundering and one count of obstruction of justice; and five years in prison for each of the two counts of bankruptcy fraud and two counts of perjury.

The Baltimore Business Journal first reported in the Sept. 28 issue that attorneys representing Fabian and the Centre for Management on allegations of improper transfers of money have asked to withdraw from the cases, saying they have not been paid.

Hogan & Hartson, which is representing the Centre for Management in two lawsuits in bankruptcy court, filed its motion to withdraw as counsel Sept. 10. And law firm Venable LLP said in court documents Sept. 20 that it would withdraw as counsel to Fabian, wife Jacqueline Richards-Fabian and other defendants in several proceedings to recover money filed by the independent trustee in Strategic Partners International's bankruptcy. The trustee, Zvi Guttman, claims Strategic Partners illegally transferred millions of dollars in the months before it filed bankruptcy.

The Centre for Management bills itself as a resource that helps other nonprofits operate more efficiently and use technology better. The center is not a defendant in Fabian's criminal case, but it is required to provide monthly financial reports to the federal court and not to make any financial transactions outside the ordinary course of business.



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

CapNet Ranked 5th Best Place to Work in LA

by Los Angeles Business Journal

LOS ANGELES, CA-- Capital Network Leasing Corporation (CapNet) was recently ranked #5 on the List of Best Places to Work in LA by the Los Angeles Business Journal. This countywide award was designed to identify the best places of employment in Los Angeles County, benefiting the region's economy, its workforce and businesses. The Best Places to Work in LA list was made up of 60 companies split into small-, medium-, and large-sized categories.

CapNet was recognized in the medium-sized category for excelling in:

- Employee Satisfaction
- Employee Growth Opportunities
- Employee Benefits
- Employee Training

The first part of the award was an evaluation of each nominated company's workplace policies, practices, philosophy, systems and demographics and the second part consisted of an employee survey to measure employee experience. "But to truly be considered a great place to work, a company must do more than give its workers generous benefits and a good salary," said Richard Clough, LA Business Journal. "The Best Places to work often foster an environment of respect and recognition rooted in interpersonal relationships among employees at all levels."

Best Companies Group managed the survey process with assistance from ModernThink LLC, who analyzed the data to determine the rankings. CapNet was honored at the Best Places to Work in LA awards reception on September 18, 2007, hosted by the Los Angeles Business Journal at the Millennium Biltmore Hotel in Downtown Los Angeles.

"We are honored to receive this important award," said CapNet CEO, Dustin White. "Our people are what make CapNet the great company that it is. As we continue to grow, it is important to us that we maintain the values that helped create the corporate culture we have been recognized for."

About CapNet

CapNet was founded in 1999 on the core principles of integrity, character and the highest quality of service. Ranked #52 on Inc. 5000's list of Top Companies in Financial Services, CapNet has quickly gained recognition as one of the premier equipment leasing companies in the United States serving thousands of businesses nationwide. CapNet is headquartered in Sherman Oaks with offices in Newport Beach and Phoenix. The company is a member of the United Association of Equipment Leasing and the Better Business Bureau. For more information about CapNet, visit, or contact Alana Littler, 877.980.0558 x315,

Alana Littler
877.980.0558 x315Email Contact


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

Fastest-Growing Equipment Finance Company in the USA Mercury Capital Ranks No. 196 on the 2007 Inc. 500

With Three-Year Sales Growth of 1,081.0%

Inc. Magazine Reveals Its 26th Annual List of America's 500 Fastest-Growing Private Companies

NEW YORK, NY-- Inc. magazine today ranked Mercury Capital, a Southern California-based Equipment Finance Company, No. 196 on its 26th annual "Inc. 500" list of the fastest-growing private companies in the U.S.

"If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."

Barry Lyon, President of Mercury Capital since its founding in 2001, established the company on the belief that lending need not be a convoluted and painful process. Says Lyon, "We bring a sense of clarity to clients new to leasing, and meet the need for comprehensiveness and sophistication for those more experienced." This breadth of scope and service has made Mercury Capital the fastest-growing Equipment Finance Company on the Inc. 500, posting an eye-popping three-year sales expansion of nearly 1,100.0%.

From trucks and computers to refrigeration equipment and software, Mercury Capital's leasing specialists focus on providing clients with service that is far more personal and efficient than the typical bank-loan headaches and automated run-arounds. "Instead," Lyon says, "We put a real emphasis on customer support that is genuinely helpful and specifically targeted." He goes on to explain, "Lending does not need to be complicated. By keeping it uncomplicated, we strive to turn every customer into a repeat customer."

And, according to the numbers and the Inc. 500, it's working. Like gangbusters.

About Mercury Capital

Ranked No. 12 in Top Companies in Los Angeles-Long Beach-Santa Ana, CA ( and Top Companies in Financial Services (, this Southern California-based leasing outfit has fast become a favorite of small and midsize businesses nationwide. To learn more about Mercury Capital, visit

Barry Lyon
(949) 218-8700


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This Day in American History

    1608- A glass factory was established in Jamestown, VA. Eight German and Polish mechanics were imported to start the new industry. Among the factory's products were glass beads for use in trade with the Native Americans. The factory remained in operation spasmodically for about seven years and was then disbanded, owing chiefly to the fact that the workers found it more profitable to grow tobacco for shipment to England. It appears Europe had never chewed, snuff, smoked in a pipe, paper, or tobacco wrapper before. They quickly became quite addicted to the import from the colonies. The London Company later sent Captain William Norton, accompanied by four Italians and two servants, to revive the Jamestown glass factory, which resumed operations on July 25,1621. The massacre of the colonists by Native Americans in 1622 put an end to it.
    1781-Birthdday of James Lawrence, brilliant American naval officer, whose last battle was a defeat, but whose dying words became a most honored naval motto. Lawrence, born at Burlington, NJ, was captain of the Chesapeake when she engaged in a naval duel with HMS Shannon off Boston, June 1, 1813. The Chesapeake was captured and towed to Halifax, as a British prize. Lawrence was mortally wounded by a musket ball during the engagement and uttered his famous last words, “Don't give up the ship,” as he was being carried of the ship's deck.
     1800 - The territory of Louisiana, encompassing the entire region of the Mississippi-Missouri river valleys, was ceded by Spain to France in the secret treaty of San Ildefonso. France envisioned a great French empire in the New World, and it hoped to use the Mississippi Valley as a major food and trade center. In 1803, economic and political problems forced France to sell the territory to the United States.
    1861-The first Union ship captured in the Civil War was the U.S.S. Fanny, an Army stream tug that grounded on a shoal in Pamilico Sound, NC, while it was en route to Chicomacomica, the encampment of the 20 th Indiana Regiment. The pilot and deckhand escaped by swimming ashore, but the ship was captured by Confederate naval forces. Also captured were the Raleigh, a small iron-hull propeller-driven towing steam, the Jualuska, a vessel of 79 tons, and the Culew, 260 tons.
    1864- Rose O'Neal Greenhow drowned when her small open boat overturned while attempting to run the blockade of the harbor of Wilmington, North Carolina. Her clothes were weighed down with gold coins she was attempting to smuggle into the cash-poor South. Before her death, she was a spy for the confederacy and had been imprisoned by the Union secret service. After being released, she traveled to Europe to aid the Confederacy by collecting funds. It was those funds, sewn into her clothes, that caused her death. A monument in Wilmington commemorates her accomplishments as well as a marker in the marvelous historical district of that city.
“Oakdale Cemetery 520 N. 15th St., Wilmington When Nance Martin died at sea in 1857, her body was preserved, seated in a chair, in a large cask of rum. Six months later she was interred at Oakdale Cemetery, cask and all. Her monument and many other curious, beautiful and historic markers are to be found within the labyrinth of Oakdale Cemetery, Wilmington's first municipal burial ground, opened in 1855. At the cemetery office, you can pick up a free map detailing some of the more interesting interments, such as the volunteer firefighter buried with the faithful dog that gave its life trying to save his master, and Mrs. Rose O'Neal Greenhow, a Confederate courier who drowned while running the blockade at Fort Fisher in 1864. Amid the profusion of monuments lies a field oddly lacking in markers-the mass grave of hundreds of victims of the 1862 yellow fever epidemic. The architecture of Oakdale's monuments, its Victorian landscaping and the abundance of dogwood trees, make Oakdale beautiful in every season. The cemetery is open until 5 PM every day. Bicycles are not permitted.”
    1867-Morgan State College Founded in Maryland.
    1880 - A new director of the United States Marine Corps Band was named. John Philip Sousa became the band's 17th leader. In 1888 he composed "Semper Fidelis", traditionally known as the official march of the Marine Corps.
    1883 -American churchman A. B. Simpson founded the first school in America to train missionaries, in New York City. Called the Missionary Training Institute in 1894, its name was changed to Nyack College in 1972.
    1884- the first baseball championship was played at the Polo Grounds, New York City. The Providence Grays defeated the New York Metropolitans three games to one.
    1889 -Birth of Ralph W. Sockman, American scholar and devotional writer. His best-remembered poem begins: "I met God in the morning, when my day was at its best...."
    1890-Yosemite Valley and Mariposa Big Tree Grove, granted to the State of California June 30, 1864, were combined and established as a national park.
    1892-The university of Chicago opened with an enrollment of 594 and a faculty of 103, including eight former college presidents.
    1893-Birthday of singer Kid Sox Wilson, Jacksonville, FL.
     1893 - The second great hurricane of the 1893 season hit the Mississippi Delta Region drowning more than 1000 persons.
    1896-Rural Free delivery mail was established.
    1896- the first all-fiction pulp magazine was the Argosy, 1092 pages, 7 by 10 inches. It was published in New York City, starting a craze of such magazines.
    1903-The First Modern World Series Game: The Pittsburgh Pirates defeated the Boston Pilgrims ( later the Red Sox ), 7-2, in the first game of the 1903 World Series, the first postseason series matching the champions of the National League and the American League. Jimmy Sebring of Pittsburgh hit the first World Series home run. Deacon Phillippe was the winning pitcher. Cy Young the loser.
( bottom half of: )
    1904-Bulk mail was authorized by Congress on April 28, 1904, and went into use this day. It permitted 2,000 or more identical pieces of third-class or fourth-class mail to be mailed without stamps, affixed, in exchange for a fee. The denomination of the postage, the place of mailing, and the permit issued by the post office for the mailing was printed in place of the stamp.
     1905 - The Julliard School of Music was founded in New York City.
    1908-Ford introduced the Motel T at a price of $850 but by 1924 the basic model sold for as little as $260. Between 1908 and 1924 Ford sold 15,007,033 Model Ts in the US. Although the first Model Ts were not built on an assembly line, the demand for the cards was so high that Ford developed a system where workers remained at their stations and cars came to them. This enabled Ford to turn out a Motel T every 10 seconds. 1920-Birthday of guitarist/harmonica player Johnny “ Blind” Brown, Montgomery, AL.
    1913-The first monument to a bird was unveiled at Salt Lake City, UT. It was designed by Mahonri Young, a grandson of Brigham Young, to commemorate the sea gulls from the great Salt Lake that attacked a devouring horde of black crickets, or grasshoppers, that were destroying the wheat fields of the Mormon settlers in May, 1848.
    1921- Margaret Hillis birthday - One of this nation's most distinguished conductors .
* received Master's degree in choral conducting from Juilliard School of Music (1949),
* Robert Shaw's assistant for two years,
* resident conductor of the Chicago Civic orchestra,
* formed the American Concert and American Concert Orchestra in 1950,
* founded and became music director of the American Choral foundation in 1954,
* appointed chorus director of the Chicago Symphony in 1957,
* appointed chorus director of the Cleveland Symphony in 1969.
She also created, organized and conducted the Chicago Symphony Chorus and the Elgin (Illinois) Symphony Orchestra, was resident conductor of the Civic Orchestra of Chicago, and chaired the Department of Choral Activities at Northwestern University. In 1977 she subbed for an ailing George Solti to conduct Mahler's monumental Eighth Symphony which has 400 musicians and singers. She got rave reviews - but was sent back to the chorus podium. Hillis won a Grammy award for "the best choral performance of 1977" for the Verdi Requiem with Solti conducting, and again in 1978 for the Beethoven Missa Solemnis. From early childhood in Kokomo, Indiana, she accompanied her mother to travel to concerts, sometimes 16 in two weeks. Her grandmother had a full pipe organ in her living room (pipes in the basement). She died in February 6, 1998.
    1924- birthday of Jimmy Carter, thirty-ninth US President (1977-81).
    1928 - Duke Ellington recorded "The Mooche" on the Okeh label.
    1928 - "Forever", by Ben Pollack and his band, was recorded on Victor Records. In Pollack's band were two talented young musicians: Benny Goodman and Jack Teagarden,
    1932- Babe Ruth, In the fifth inning of game three of the World Series, with a count of two balls and two strikes and with hostile Cubs fans shouting epithets at him, Babe Ruth pointed to the center field bleachers in Chicago's Wrigley Field and followed up by hitting a soaring home run high above the very spot to which he had just gestured. With that homer Ruth squashed the Chicago Cubs' hopes of win­ning the game, and the Yankees went on to sweep the Series with four straight victories. For more than half a century the question has remained: Did Ruth actually call his shot that day? Even eye­witnesses disagree. Joe Williams of The New York Times wrote, “In no mistaken motions, the Babe notified the crowd that the nature of his retaliation would be a wallop right out of the con­fines of the park.” But Cubs pitcher Charlie Root said, “Ruth did not point at the fence before he swung. If he'd made a gesture like that, I'd have put one in his ear and knocked him on his ass.” Ruth's daughter has said that he denied it. But the Babe himself also claimed he had. Fact or folklore? Either way, legend!
    1932-Birthday of guitarist Albert Collins, Leona, TX.
    1933- Babe Ruth had pitched only once in 12 years when he took the mound for the New York Yankees in their final game of the season. Ruth hurled all nine innings, hit a home run in the fifth and beat his original team, the Boston Red Sox, 6-5. It was a fitting finish to his 20 th season in the majors: because this turned out to be his last pitching appearance, his 1-0 record in 1933 meant that Ruth never had a losing season as a pitcher.
    1935-Birthday of Ulie Andrews ( Julia Wells, singer, actress, born Walton-on' Thames, England.
    1935-Benny Goodman Band closes at Palomar, LA, after launching big band era with its August 21 st opening.
    1935-Birthday of singer Ann Richards , wife of band leader Stan Kenton.
    1936-Birthday of harmonica player George “Wild Child” Collins, Autaugaville, AL.
    1940-Birthday of accordion player Marc Savoy, Eunice, LA
    1942- The first jet airplane designed and built in the United was the XP-59, an Airacomet, built by the Bell Aircraft Corporation, Buffalo, NY, and flown for the first time at a secret testing base in Muroc, CA, by Robert Morris Stanley. It was rated over 400 miles per hour and in excess of 40,000 feet. The higher the latitude ( up to a certain maximum,) the faster it flew. It employed two turbojet engines built by the General Electric Company from designs made by Group Captain Frank Whittle, the British inventor. The fuel was generally kerosene, although anything that burned could be used as a substitute. There was no propeller.
    1944- Emil “Dutch” Leonard defeated the Detroit Tigers, 4-1, to pitch the St. Louis Browns to the only American League Pennant in their history. The Browns went on to lose the World Series to the St. Louis Cardinals, four games to two.
     1946 -- American novelist and short story writer Judith Freeman lives, Ogden, Utah. Her first novel, The Chinchilla Farm (1989), is a road novel about a Mormon woman who packs all of her belongings into a livestock trailer and heads for L.A. after her husband walks out.
    1947-On this day the first residents moved into what would become Levittown at Long Island, NY. The community developed by William Levitt and his brother Alfred with their father Abraham started as affordable rental houses bu lt for returning World War II veterans. In 1948 the Levitts began to sell the 800-square-foot homes for under $8,000. By 1951, when the first community was finished, the Levitts had built 17,447 mass-produced Cape Code and ranch homes. In 1952, they started construction of a new Levitttown in Bucks County, PA, where they built another 17,000 houses, and beginning in 1958, they build another 12,000 homes in Wilingboro, NU.
    1951- the first commercially made transistor was produced by the Western Electric Company, Allentown, PA, for long-distance dialing equipment of the Bell Telephone System.
    1952- “This is Your Life” premiered on TV. Ralph Edwards hosted this program that lured unsuspecting guests on the show and surprised them by detailing their lives and achievements with their family and friends. It began as a radio show in 1948. 1957 - U.S. B-52 bombers in the Strategic Air Command went on 24-hour alert status because of the perceived threat of an attack from the Soviet Union.      1955- "Honeymooners" premieres on TV. Originally a skit on the “Jackie Gleason”, Ralph Kramden ( Jackie Gleason), bus driver, Ed Norton (Art Carney), sewer worker, Alice Kramden (Audrey Meadows), Ralph's wife, and Trixie Norton ( Joyce Randolph), Ed's wife had a two year run (39) episodes that are still re-running on TV today. There was little rehearsal--Gleason liked it that way--and there were no second takes--the show went out live. The sets were painted cardboard (with the only apartment doors in the world that opened out instead of in). And nobody imagined this short run series of half-hour episodes would rerun continuously somewhere on TV for the next 50 years They are on video today, including the four lost episodes.
    1955- In Game 4 of the World Series at Ebbets Field, the Dodgers defeat the Yanks, 8-5.
    1957---Top Hits
Wake Up Little Susie - The Everly Brothers
Honeycomb - Jimmie Rodgers
Chances Are/The Twelfth of Never - Johnny Mathis
My Shoes Keep Walking Back to You - Ray Price
     1958 - The novel, The Ugly American, by William Lederer and Eugene Burdick, was published on this date in New York. The novel was later made into a movie, which starred Marlon Brando.
    1961- Roger Maris of the New York Yankees hit his 61 st home run, breaking Babe Ruth's record for most home runs in a season. Maris hit his homer against Pitcher Tracy Stallard of the Boston Red Sox as the Yankees won 1-0. Controversy over the record arose because the American League had adopted a 162-game schedule in 1961 and Maris played in 161. In 1927, when Ruth set his record, the schedule called for 154 games and Ruth played in 151. On the this date, exactly two years later, a baby named Mark McGwire will be born. On September 8, 1998, Mark McGuire of the St. Louis Cardinals hit his 62 nd home run, breaking Maris' record.
(box score )
audio CD: =10007&PN=5&PID=401243&DSP=&CUR=840&PGRP=0&CACHE_ID=73877
     1962- James Meredith became the University of Mississippi's first black student after 3,000 troops put down riots, completing the registration he began yesterday.
    1962 - “From New York ... heeeeeeeeeere's Johnny!” Ed McMahon introduced the new host of NBC's "Tonight Show" for the first time. Johnny Carson entertained late-night America for nearly three decades. His first guest was Barbara Stanwick. He is reportedly suffering from emphysema.
     1962- Barbra Streisand signs her first recording contract (with Columbia)
    1962-“The Merv Griffin Show” premiered on TV. Singer and game show king Merv Griffin's first effort as an afternoon talk-show-host premiered on NBC but was later dropped for syndication. The afternoon show continued until 1969 when Griffin was tapped to host a late-night program on CBS to complete with “The Tonight Show” with Johnny Carson.
    1963-Birthday of baseball player Mark McGuire, Pomona, CA.
    1964 -- Police attempt to arrest University of California-Berkeley math grad student Jack Weinberg for passing out literature for the Congress Of Racial Equality (CORE) in Sproul Plaza — inadvertently starting the Free Speech Movement (FSM). Police car is surrounded by demonstrating students for 32 hours. Mario Savio and Joan Baez involved; early September: Clark Kerr bans all politicking outside UC's main gate; late Sept: Kerr suspends 8 students for political activities. I covered this for KFRC, free lancing for UPI, among others. Weinberg is best known for the phrase:
"Don't trust anyone over thirty."
    1965---Top Hits
Eve of Destruction - Barry McGuire
Hang on Sloopy - The McCoys
You Were on My Mind - We Five
Is It Really Over? - Jim Reeves
    1971- Disney's second theme park opened at Orlando, FL. The opening was planned for October when the crowds were slower. Disney planners wanted everything to move slowly at first, so any problems that sprang up could be fixed with minimal guest inconvenience. The dedication of the park was held on October 25, 1971. Roy O. Disney stood with Mickey Mouse in Town Square and read the dedication plaque: “Walt Disney World is a tribute to the philosophy and life of Walter Elias Disney . . . and to the talents, the dedication, and the loyalty of the entire Disney organization that made Walt Disney's dream come true. May Walt Disney World bring Joy and Inspiration and New Knowledge to all who come to this happy place . . . a Magic Kingdom where the young at heart of all ages can laugh, and play, and learn - together.” Walt Disney World eventually became the world's largest, man-made, tourist attraction.
    1972-“Kung Fu” premiere on television. David Carradine starred in this unusual ABC western as Kwai Chang Caine, a half-Chinese marital arts master drifter who was exiled from China. Appearing in flashback were Keye Luke as Master Po, Philip Ahn as Master Kan and Radaman Pera as the younger Caine. The show ran for three years. “Kung Fu” returned in a 1986 TV movie introducing the late Brandon Lee as Caine's son. A sequel series currently appears in syndication staring a much older Carradine.
    1973- In the first game of a scheduled make-up double-header at Wrigley Field, a day after the regular season ends, the Mets beat the Cubs, 6-1,to capture National League East flag. The Miracle Mets, who were 11 and half games behind and in last place on August 5, by winning its 82nd game, (the lowest number victories ever to win a title) clinch the division making the second game of the twin bill unnecessary to play.
    1973---Top Hits
We're an American Band - Grand Funk
Half-Breed – Cher
Loves Me like a Rock - Paul Simon
Blood Red and Goin' Down - Tanya Tucker
    1975- Muhammad Ali scored a 15-th round TKO against Joe Frazier to retain the heavyweight championship in a fight billed as the “Thriller in Manila.”
    1977- Pele, generally considered the greatest soccer player ever, played the last game of his career before 75,646 fans at Giants Stadium. Pele played the first half for the New York Cosmos and the second for Santos of Brazil, his original team.
    1977- the first member of the American Revolution who was African-American was Karen Batchelor Farmer of Detroit, MI, who became the 623,128 th member of the Daughters of the American Revolution. She traced her ancestry to William Hood, who served in the militia of Lancaster, PA, during the Revolutionary War.
    1979-The first Pope to visit the White House in Washington, DC, was Pope John Paul II, who flew across the Atlantic in the Shepherd I, landing in Boston, MA. In six days, he visited Boston, New York, Philadelphia, Urbandale, IA, Chicago and Washington. He returned to Rome from Andrews Air Force Base, near Washington, ON October 6.
     1979- Elton John plays the first of eight straight shows at Madison Square Garden.
    1980 -With much media and fan pressure Red Sox fire manager Don Zimmer.
    1980 - "Ladies' Home Journal" startled readers. Robert Redford became the first male to appear alone on the cover. It had taken 97 years for the magazine to change its no-men-on-the-cover policy.
     1980- Paul Simon's semi-autobiographical film "One Trick Pony" premieres in New York City. Besides Simon, those appearing the film include Lou Reed, Sam & Dave, the B-52's and the Lovin' Spoonful.
    1981---Top Hits
Endless Love - Diana Ross & Lionel Richie
Queen of Hearts - Juice Newton
Stop Draggin' My Heart Around - Stevie Nicks with Tom Petty & The Heartbreakers
Tight Fittin' Jeans - Conway Twitty
    1982-The first compact disc player, developed jointly by Sony, Phillips and Polygram, went on sale. It cost $625 ( more than $1,000 in current dollars ).
    1982- Remington Steele” premiers on TV. Laura Holt (played by Stephanie Zimbal­ist, daughter of Efrem Zimbalist, Jr), an imaginative private detective, could not get a case of her own—until she made up a partner, Remington Steele, who was conveniently out of the office when clients came-a-calling. Then she met the suave stranger (Pierce Brosnan) with a foreign accent who called himself Rem­ington Steele. They began a working partnership.., which ended in marriage. The show aired on NBC for five years, with the last telecast on Mar 9, 1987, and costarred James Read, Janet DeMay and Doris Roberts
    1983 - Bonnie Tyler's "Total Eclipse of the Heart" began a four-week run as the number one single in the U.S. The song, from her "Faster Than the Speed of Night" album, ran 5 minutes, 36 seconds and it took a day or two to get out of your head after you listened to it...
    1987 - An earthquake in Los Angeles (eleven miles southeast of Pasadena) killed eight people and injured 200. The quake caused $358 million in property damage and measured 5.9 on the Richter scale.
     1987- - A blast of cold arctic air hit the north central U.S. An afternoon thunderstorm slickened the streets of Duluth MN with hail and snow, and later in the afternoon, strong northerly winds reached 70 mph. Unseasonably warm weather continued in the Pacific northwest. Afternoon highs of 90 degrees at Olympia WA, 92 degrees at Portland OR, and 89 degrees at Seattle WA, were records for the month of October. For Seattle WA it marked the twenty- first daily record high for the year, a record total in itself.
    1989---Top Hits
Girl I'm Gonna Miss You - Milli Vanilli
Heaven – Warrant
If I Could Turn Back Time – Cher
Let Me Tell You About Love - The Judds
     1989- Thunderstorms produced severe weather in the southeastern U.S. through the daytime and evening hours. Severe thunderstorms spawned eleven tornadoes, with seven of those tornadoes in Georgia. A tornado southwest of Moultrie, GA, killed two persons and injured a dozen others. Tornadoes also injured one person north of Graceville, FL, and two persons at Bartow, GA
     1990- President George H. Bush at the United Nations in New York City condemns Iraq's takeover of Kuwait, seeks support from the United Nations. Even though he was the former US Ambassador to the UN and knew the “system, “ it took him almost six months to get support after August 2, when the Iraqi armed forces invaded Kuwait and overran it in a matter of hours. We sent troops to Saudi Arabia on August 7, started a Naval Blockage on August 9. August 10, at a meeting in Cairo, 12 of the 21 member nations of the Arab League voted to support the UN and U.S. action. By November 8, some 230,000 American troops were in Saudi Arabia and President Bush announced that 150,000more would be sent. The UN Security Council on November 29 voted to authorize the US and its allies to use force to expel Iraq from Kuwait if its troops did not leave by January 15, 1991. By the end of 1990, 580,000 Iraqi troops were believed to be in Kuwait or southern Iraq. Facing them were 485,000 troops of 17 allied countries, with many skirmishes, while Iraq exterminated tribes, took overland, ransacked the country, and eventually set fire to the oil wells, disregarding all UN sanctions and the alliance of Arab nations supporting his ouster of Kuwait and other areas he claimed as now belonging to him.
    1993 - The hauntingly beautiful "I Know I Got Skill", by Shaquille O'Neal, was released. Just a sample: “...I'm big like Gorilla, 6-7, large, I kick rhymes like moduck-kwong you, I smoke-smoke the mic-mic, I Cheech and Chong you, you don't like Shaq, frankly I don't give a damn, I know I got skills man, I know I got skills man...”
    1994 - Eric Clapton's album "From the Cradle" was number one in the U.S. The rest of the top five for the week: "II" (Boyz II Men); "Rhythm of Love" (Anita Baker); "The Lion King" (soundtrack); "Dookie" (Green Day).
    1995- The Yankees and Rockies become first wild-card teams in new major league baseball playoff system.
    1995 -- Willie Nelson, John Mellencamp, Neil Young, Hootie & The Blowfish & The Dave Matthews Band raise nearly $1 million at Farm Aid concert in Louisville, Ky.
    1996 - Theodore Kaczynski was charged by a U.S. federal grand jury with mailing a bomb that killed advertising executive Thomas Mosser in 1994. Kaczynski, known as the Unabomber, pleaded guilty in January 1998 to mail bombings that killed three people and injured 23. He was sentenced in July 1997 to life without possibility of parole by a federal court in Sacramento, California.



Baseball Poem

Baseball Poem

National Pastime


Somewhere in the summer city...
someone's stoop... mid 50's,
when gods wore pinstripes,
and kids crammed their mouths
full of cloyingly sticky gum.
Got it... need it... want it.

Could have been anywhere, really.
Babe's House, Duke's Domain,
The Polo Grounds... Fenway Park.
The voices... Red Barber, Mel Allen,
statically beautiful.
Going... going.... gone!

Stark, white powder... highlighting
base lines, connecting the bags.
Irish-green outfields...
their warning tracks beckoning
that high, fly ball...
Holy cow... Oh, Momma, Touch 'em all!

Thurman and Roberto... gone too soon.
Mickey's left the reminiscing to Yogi.
Oh... for a ten-cent Coke, a shoe box,
crammed with flip-worn icons,
and somebody's mother...
calling him in to dinner.





The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?



Daily Puzzle

How to play:

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Independent, unbiased and fair news about the Leasing Industry.
Editorials (click here)

Top Stories chosen by editor Kit Menkin

(chronological order)

- LaSalle National Bank Leasing to close?
- Printing an “on line” Article
Sales makes it Happen---by Gerry Egan--Video
- An Effective and Effortless Incentive Plan
- What Salespeople Do-And Don't Do-With Credit
- "Has your vendor ever wondered…?"
- Top Stories--September 10-14

Leasing 102 by Mr. Terry Winders, CLP
- Electronic Funds Transfer (ACH)
- EverBank/NetBank rumor seems true
- Bruce Lurie joins Leasing News Advisory Board
- Latitude Equipment Leasing Management Team
- Calling Wildwood "Ex" Employees
- Construction Industry Suppliers Hit the Wall

- CyberNet pair accepts plea deal
- IFC Credit Announces New Credit Facility
- The List 2nd Quarter
- PNC to buy troubled Sterling Bank, Lancaster, PA
- Looking for a job? Say “Thank you!”
- Leasing declined July as expected-better times ahead
- John Estok, CLP, resigns from IFC Credit
- In it for the long run…Brent Hall
- Dell, Admitting Managers Inflated Sales Reports
- CIT to be Sold? by Christopher Menkin
- Results on Site Inspections Questionnaire
- Drayer surrenders/Barker gets 60 months
- Sovereign CEO keeping eye out for recession
- Subprime Problems Spread Into Commercial Loans
- Apology: Five Point Capital Press Release
- 2 years later, Dell stays mum on accounting probe
- Alleged $32MM Leasing Scam Artist fund raiser for Romney
- FTC presses for preliminary judgment against IFC
"To Tell the Truth"--by Barry Marks
- “Site Inspections: The Inspector General”
- Cause of Beau Clarke's death---“adult” rated
- Leasing industry “fairly stable” says Fitch
- AdvanceMe with Brad Peterson starts PredictiFund
- GE $47 Million claim
- Managing Yourself and Others
- "brokers wanted" - Friends of Mike Bennie
- Investors See Spillover From Subprime Loans
- When do you have a "site inspection?"
- Lease Police Up-Date

- Parker Brothers get 20 and 11 years in Federal Prison

- Chris Raley: on passing of his partner Gene Sides
- CMC Officers Indicted for $300 MM Tax Evasion
- Destiny's New Child---up-date
- The Pros And Cons of Bank References
- Leasing Solutions, San Jose, to re-organize???
A Free Lunch for A/R Managers?

- Most Say, “No Thanks”
- IRS resurrects random audits

- Huntington Bank sued by leasing companies
- Top Twenty Employment Growth Fields
- Hillcrest Bancshares/SunBridge Capital
- How did Warren Capital bring $350MM N Bay
- FTC versus IFC Credit Corporation
- The International Deal Network
Norvergence, four years later

- Equipment Leasing is changed forever
by Christopher Menking, publisher
- Presentation showed Service in contract
- Ten most popular dog breeds in the US
- Parent of OFC Capital purchases Pioneer Financial
- "Coattailing"-Cynthia L. Fawcett, Credit Risk Mgr.
- Fair Isaac moves to halt "coattailing"
- Section 179 is being raised to $125,000 in 2007
- Verifying Federal Tax Returns
- CIT hit with $65 million Insurance Class Action Suit
- Key Equipment Finance v. AmeriCap Credit
- Former head of Mission Pacific Capital arrested
- NY AG Sues Dell, Charges Bait And Switch/high interest
- Interest rates at Dell
- Illinois AG files against MRI Lease Operation
- CIT hit with $64 Million Insurance Class Action Suit

- Lease Financing Transactions and CMC
- William Dalton New Pres/CCO ACC Capital
- Kamikaze Kat
- The Leasing Industry is Born --(Greyhound Leasing)
- Alert -
Sheldon Player
Shawn Halladay Collection--by Shawn Halladay
- IASB/FASB could be 2012

- Leasing Associations Events-Meetings Open to All
- Leasing Association Conference 2007
- Only DVI Conviction is sentenced
- The most thorough "book" on Leasing
- Bank of the West Expands Back Office Operation

- Conseco Bankruptcy a Scam?
- Evergreen Clauses
- All Leasing Association Membership is Up
- Le-Nature's creditors want funds from players in fraud
Insider's Guide to San Francisco's Best Restaurants

- by Jeffrey J. Wong, Esq.

- Accounting/Tax Chart from TechLease

- How Leasing News works---
- AllServe Founder out on Bail in India
- Advance Rental Artist Sentenced

- FASB/IASB on Equipment Leasing
- How to Check your eMail from a Public Computer

- "Committment to Lease" Agreements

- Tipping for Wine
- Settlement Costs Vs. Litigation Costs
- Stress Relief
- Lease Administrators UCC Warnings to Lessees
- California License Web Addresses

- Snapple Real Facts

Ten Top Stories each week chosen by readers (click here)

ELFA MLFI 25 Survey
Leasing 102
Leasing News Advisors
Pictures from the Past
Sales Make it Happen
Shawn Halladay Collection
To Tell the Truth
Why I Became a CLP