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LEASING ACCOUNT EXECUTIVE

Seeking an experienced Leasing Professional who has:
  • a proven track record in the middle market arena
  • experience w/ customer & vendor programs
  • Home State Leasing Corporation, a subsidiary of Home State Bank, N.A., has been serving the needs of our clients since 1915.

    Monday, April 20, 2009

    First base top player Donald Arthur Mattingly (nicknamed "Donnie Baseball" and "The Hit Man") born April 20, 1961 Evansville, Indiana. Famous first baseman for the New York Yankees 1982-1995. He also served as the Yankees hitting coach from 2004 to 2006/ Joe Torre's bench coach in 2007; currently the Los Angeles Dodgers hitting coach.
    http://us.imdb.com/name/nm0560320/

    Headlines---

    Alert—Greystone $2-$3 Million Not Funded?
        Unbelievable Bulletin Board Complaint
            Classified Ads---Syndicator
    Archives—April 21, 2005 Kit Menkin Moves
        Classified Ads---Help Wanted
            Letters Criticize “Anonymous” Larkins" letter
    Leasing News Top Stories---April 13-17
        Cartoon—Greystone Department Head Meeting
            Bank Beat--25 Bank Failures matching 2008
    Leasing 102 by Mr. Terry Winders, CLP
    Additional Reasons to Offer an Operating Lease
        Black Churches Earmarked In Leasing Kiosk Scam?
            Why Trinity Industries Is Undervalued
            U.S. can avoid bank nationalizations
            Leasing Rates fall in Middle East
            Putin’s Tariffs Stall Caterpillar, Deere
            Airbus, Boeing Production Rates
            FEDS to Tax Web to Bolster State Revenues
            CEO: Bankruptcy 'probable' for GM
            Miss North Carolina USA Miss USA 2009
        News Briefs---
    You May have Missed---
    Madoff accountant may be in plea talks
        California Nuts Brief---
            Sports Briefs---
    "Gimme that Wine"
        Today's Top Event in History
            This Day in American History
    Baseball Poem
        SuDoku
            Daily Puzzle
    GasBuddy
        Weather, USA or specific area
            Traffic Live----

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

    --------------------------------------------------------------

    Alert—Greystone $2-$3 Million Not Funded?

    Vendors have contacted Leasing News that there may be as much as $2 to $3 million dollars in leases not
    funded by Greystone Equipment Finance Corporation Burlington, Massachusetts

    The funding of leases appears more serious than management has relied to Leasing News. The original excuse of not knowing the leases they have purchase orders out to does not hold water. It appears what is accurate is Greystone Equipment Finance Corporation does not have the cash to fund the leases and have been looking for non-recourse funding sources to bail them out as reportedly their parent won’t or doesn’t have the ability to give them the cash.

    It appears “the truth, the whole truth, and nothing but the truth” has not been spoken by present management of Greystone Equipment Finance Corporation. After the Friday news story that only one funding had been completed, according to the Greystone management spokesperson, that the company was looking to see what purchase orders were issued for the next funding, management is quite aware what it needs to pay for equipment they have not only issued purchase orders, but has been delivered, with vendors actually appearing at their the office to “beg” to be paid.

    “Right now they owe us approx 300K in fundings. I am not talking about approvals or docs out. These are deals that they performed verbal audits on, received signed D&A’s, & have been sitting in for funding."

    "The article you posted regarding Greystone not being aware of Purchase Orders & so on is nothing but lie after lie. The employees have a struggle ahead while the bank themselves ignore all emails or phone calls for help from the leasing Co.

    “Rather than rambling on if you are interested in some real ugly facts I will share as long as my name is not mentioned. My hope is with enough news on this situation the owner of the entire Greystone Co will end up doing right by his people that are left high & dry which includes employees & of course the small to large vendors that put a great deal of trust into the commitments to fund & are now stuck as certain deals are highly structured from pre paid service agreement through bundled deals that do not get structured over night & meanwhile the lessee’s think they are all set."

    (name with held)

    A company from Boston has reportedly visited the Greystone office in the Boston area regarding $500,000 owed to them. Management is quite aware of this, also. There are more, perhaps totaling up to $2 to $3 million dollars. They appear “afraid” to have Leasing News print their name for fear of not ever getting paid.

    According to inside information, the parent company, GreyCo, Warrenton, Virginia will not extend any more funds nor honor any of the purchase orders for equipment that was delivered. They also may not have the cash. GreyCo specializes in mortgages, commercial finance and the healthcare industry.
    (see www.greyco.com )

    They are also the parent of Greystone Bank, Raleigh, North Carolina.
    It appears Greystone Bank is also not in a position to fund the leases.

    A January 10, 2006 press release states Greystone Bank, Raleigh, North Carolina initial capital was $10.55 million and may have been in the wrong direction:

    "— Greystone Bank, (www.greystonebank.com) is a unique specialty bank that links builders, developers, brokers and community bankers in funding commercial real estate projects throughout the continental United States.

    “The new state-chartered bank is an affiliate of the Greystone & Co., Inc, a New York corporation, which together with its affiliated group of companies is a private investment and real estate organization with expertise in a range of loan products, servicing, trading, securitization and transaction structuring.

    “Greystone Bank will specialize in short-to-midterm financing, offering construction loans of up to two years and bridge and mini-permanent loans of up to five years for multi-family housing, healthcare facilities and commercial enterprises. Through its affiliate companies, the bank provides access to a variety of longer-term permanent loans. It is anticipated that most of the bank’s loans at first will come through its affiliate companies, which review more than $2 billion in potential loans annually. Currently, Greystone affiliates have more 400 real estate loans on their books totaling $2.8 billion in loans outstanding; the properties that collateralize those loans are located in 38 states. Initially, the bank will focus on the Southeast in its lending.

    "With initial capital of $10.55 million, the bank can lend as much as $1.5 million to each borrower, or more if a federal agency is guaranteeing some or all of the loan.”

    The chairman and principal shareholder of the bank is Stephen Rosenberg, the sole shareholder of
    Greystone & Co., Inc."
    http://www.greystonebank.com/PDFs/PressReleaseJanuary102006.pdf

    “Stephen Rosenberg is President and CEO of Greystone & Co., Inc. (collectively "Greystone") with its affiliates and the principal shareholder in Greystone Bank. He founded Greystone in 1988 as an independent investment banking firm and has since developed it into a mature investment firm with a national reputation. The Greystone financial companies’ umbrella now includes 18 companies in 12 states, including a mortgage entity with a loan portfolio of approximately $7 billion.

    “As CEO, Mr. Rosenberg is responsible for the coordination and management of corporate affairs. Prior to founding Greystone & Co., Inc., Mr. Rosenberg was a National Director with Dean Witter Reynolds. He holds a DMD degree from the University of Pennsylvania School of Dentistry and an MBA degree from the Wharton School.”
    http://www.greystonebank.com/AboutExecutive.aspx

    [headlines]

    --------------------------------------------------------------

    Unbelievable Bulletin Board Complaint

    Readers are asked if you can name the company involved.
    The lease contract has $1.00 purchase option right next to the dollar amount:
    End of term: Purchase $1.00. The original proposal that matches the dollar amount on the contract also has $1.00 purchase option.

    The lessee also sent in the $1.00 with his last lease payment. So when the lessee from Florida calls at the end of the lease looking for the bill of sale, he is told he didn’t call 180 days in advance and the company demands a “fair market value” residual. He protests, produces the documents he signed. They turn him over to their attorney (who allegedly is paid a monthly “flat fee” to handle such “legal matters.”) The attorney claims the lease is extended as per the terms of the contract because he hasn’t give the 180 day notice that he wanted to exercise the purchase option, so it is an automatic $1500 a month plus other fees, and threatens to take him to court in Southern California.

    Can you name the leasing company?

    Leasing News has asked the company involved for a statement or to resolve the matter. If not, this is one of the most unbelievable Bulletin Board Complaints seen by Leasing News. Readers will see the contract and all the correspondence from the leasing company and their attorney.

    [headlines]

    --------------------------------------------------------------

    Classified Ads---Syndicator

    Chicago, IL
    Syndicator with 20+ years experience in selling or buying one-off leases and portfolios. Price, structure, negotiate and document transactions.
    Full time position or contract work.
    Email: tpschmuker@yahoo.com
    Resume

    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: FFLLeasing@aol.com
    Westchester County, NY
    7+ years in pricing, credit, and syndications.  Strong credit skills and marketing experience at VP level.  All collateral.  MBA in Finance.
    Email: Joe.Sears@gmail.com

    For a full listing of all “job wanted” ads, please go to:
    http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

    To place a free “job wanted” Leasing News ad:
    http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

    ELFA Career Center: Job Seekers (free):
    http://careers.elfaonline.org/search.cfm

    [headlines]

    -------------------------------------------------------------

    Archives—April 21, 2005 Kit Menkin Moves

    After 31 years in the City of Santa Clara, California, his main company American Leasing left a small 3,000 square foot office building with over 400 roses planted by Kit and moved to Los Gatos, five minutes from where he lived. He brought a bookkeeper and web master with him. The company had been down sizing since 2002 as Kit planned to retire when he was 65. His commute was even shortened on September 1, 2007, when he moved Leasing News into the house.

    http://www.leasingnews.org/archives/April%202005/4-20-05.htm#office

    [headlines]

    --------------------------------------------------------------

    Leasing Industry Help Wanted

    Credit Syndicator / Funding Specialist

    AbilityCapitalSolutions.jpg

    Credit Syndicator

    Full time opening for the right team player with heavy structured transaction experience.  Click here for description.

    Funding Specialist

    Full time opening for the right team player with heavy structured transaction experience.  Click here for description.


    Sales


    Experienced Sales Person
    Orange County, California

    Commission 40-65%, full back office, Marketing Tools, vendor programs, credit analyst available.


    Barbara Griffith  714-573-9804

    About the Company: Southern California Leasing: Professional, Reputable, 17 year winning track record.



    Sales
    San Clemente, California

    The iFinancial Group is looking for highly motivated individuals with experience originating equipment lease transactions .  We offer a relaxed work environment, provide leads and offer above industry standard commission. Call Todd Clark 888-852-5155 x223
    email: tclark@ifinancialgroup.com

    Ten years providing financing nationwide


    LEASING ACCOUNT EXECUTIVE

    Seeking an experienced Leasing Professional who has:
  • a proven track record in the middle market arena
  • experience w/ customer & vendor programs
  • Home State Leasing Corporation, a subsidiary of Home State Bank, N.A., has been serving the needs of our clients since 1915.


    VENDOR SALES SPECIALISTS
    LEASING SALES PROFESSIONALS

    Like selling vendor programs and large transactions?
    Enjoy international financing programs?
    Prefer the advantages of a commission only environment with the security of health and welfare benefits?

    CLICK HERE to find out how to have fun again.

    Please see our Job Wanted section for possible new employees.

    [headlines]

    --------------------------------------------------------------

    Letters Criticize “Anonymous” letter re: Paul A. Larkins


    (left to right: Paul A. Larkins, then President and Chief Executive Officer, Key Equipment Finance, Superior, Colorado receiving the “Leasing News Person of the Year for 2006” from Edward Castagna, President of Nassau Asset Management, Westbury, New York, member Leasing News Advisory Board.
    (2007: photograph by Matt Philbin)

    The following two emails regard a letter that appeared in Wednesday,
    March 15th, edition “eMail—We get Letters! “

    From Rick Remiker
    RBS Asset Finance:

    “I found the anonymous letter critical of Leasing News portrayal of Paul Larkins troubling. Paul Larkins doesn’t need defending, his accomplishments, both at Key Equipment Finance (KEF) and in the industry, speak volumes. Nonetheless, please allow me share my thoughts, on the record with attribution.

    “I worked with or for Paul Larkins for the better part of the past 20 years including tenure as Chief Operating Officer of KEFs largest business unit. There are few people I have met that possess the intelligence, work ethic, charisma, and leadership qualities that Paul demonstrates on a daily basis. Is it possible there are people at KEF happy to see Paul gone? Sure, but I can assure you for every person pleased by his departure there are multitudes more sad to see Paul leave. Paul is a demanding leader who challenges his people to excel. His passion and drive for perfection may not fit everyone’s preferred management style, but few who know Paul would argue with the results or his ability to lead, motivate and develop strong teams. To be certain, Paul has his detractors, who of us do not? I can say with confidence there are far more fans than foes.

    “As for assertions of slipping margins, margins have slipped at virtually every bank leasing company over the past 10 years, only now are we seeing meaningful pricing power returning to Lessors. And in regard to the vendor leasing segment I think it’s important to note Paul didn’t orchestrate the acquisition of Leasetec, it was left to Paul to manage after an unexpected leadership change only weeks after closing the acquisition. The global vendor leasing model is challenging for many companies, Paul should be commended for integrating an unwieldy, privately held global vendor business into a highly regulated, US centric banking parent. It wasn’t always smooth, but today the vendor segment at KEF is one of only a few truly global vendor platforms.

    “No single person is larger than the organization they represent and KEF will surely thrive under Adam Warner’s strong leadership. Paul should be given credit for developing a bench which allowed for a seamless leadership transition. In addition to growing Key Equipment Finance to prominence Paul contributions to the leasing industry are perhaps more visible and noteworthy. As a founder of the Leasing Exchange and as a long time board member and officer of the ELFA Paul worked tirelessly on behalf of the industry to strengthen its reputation, enhance association leadership and broaden its connections on Wall Street and in Washington. Ask any former or current board member of the TLE or ELFA about the time and energy Paul put in as a volunteer on behalf of all of us employed in this industry, a record beyond reproach.

    “Rather than criticize we should tip our hat to Paul for all he did to help grow and lead the equipment finance and leasing industry. He will be missed. “

    Rick Remiker
    RBS Asset Finance
    (312) 777-3541 Office
    (312) 350-9920 Mobile
    richard.j.remiker@rbsaf.com

    --

    From:
    Ed Castagna
    ECastagna@nasset.com

    “I don’t agree that it was necessary to publish that letter today. Disgruntled people should not have the privilege of your public forum. They should not have access to the entire leasing community with that unprovoked venom. You have given it more credit than it deserves.

    “My two cents. “

    Ed Castagna
    ECastagna@nasset.com
    Nassau Asset Management
    (Member of the Leasing News
    Advisory Board)

    (#1 Readers should understand the Leasing News Advisory Board has no decision in what is written in Leasing News, before or after. They are equal to all readers when it comes to news articles or what stories appears here.

    (#2 The letter did not express Leasing News’ opinion, but that of the writer. I did not publish the entire letter, possibly about half, as I did not think it followed internet netiquette. The comments
    certainly were from by someone “high up” and who worked with him wanting Leasing News be more “objective,” if that is the correct word to us.

    (#3 Paul was contacted for a comment and given the ability to edit or change it what would be printed.)

    (#4 Being independent means being independent; and the letter criticizes Kit Menkin for the article on "Sunny Side of the Street" quite specifically, including the reference of the office building move. It criticizes my opinion of Paul Larkins. Because we print the letter, does not mean we agree with it. The person has the right to express their opinion here. Leasing News is not beholding to ELFA, NEFA, or any leasing company or advertiser or advisory board member nor any "good ole boy's club." Please view our mission and policy printed with each news edition in the bottom tool bar,
    ((and printed from time to time in the news edition, too.))

    (#5 Being unbiased means printing everyone's viewpoint when they submit it in proper internet netequette, whether you agree or disagree. That is not only the role of the editor to print all sides, but it definitely is the role of Leasing News; disgruntled, motivated, angry, unhappy, happy, right or wrong. Leasing News will print reader's opinion following internet netiquette. Columnists and writers are allowed to be "bias" when they sign their name to an article and have their own opinion.

    (#6 We do print “anonymous” and “with hold name” when appropriate.
    Please again, see our mission and policy. Many of the stories, that we also verify, or know well the send, we attribute to a “reliable source,” and usually even rate the source, too (“highly,” “very” “well-known”, etc.)

    (#7 It is up to the reader, such as yourself, to make an opinion about the letter. You are entitled to have your own opinion. As publisher, I personally chose Paul Larkins, Person of the Year, after receiving nominations. I have not changed my opinion of the choice or of Paul as his record of public accomplishments is very high. Any executive who makes a choice of one over another, or fires someone for cause, or changes direction in a program, is always going to make someone unhappy and annoyed with the executive who made that decision. One of the things I remember being related when you become a city manager of a town, after three years start looking for another job, because by five years you will have alienated too many to stay by choosing one decision over another.

    (# 8 To sum this up, Leasing News nor I personally have changed our mind about Paul Larkins, 2006 Leasing Person of the Year. My article "Sunny Side of the Street" was about how leasing has dramatically changed and how we will now miss one of the great leaders who participated so much in behalf of our industry. The letter disagreed with my editorial. It does not mean we are not going to print a letter from someone who has a different opinion.

    (We welcome all criticism. It is both included in “Letters to the Editor,” this was, but from time-to-time in a “Complaint’s” Feature.

    (Readers also know when we are incorrect, we will print it in Leasing News, usually at the top of the edition, not hidden. Editor/publisher.)

    Paul Larkin: Sunny Side of the Street
    by Christopher Menkin
    http://www.leasingnews.org/archives/April%202009/04-10-09.htm#paul

    Reactions Paul Larkins being named Person of the Year
    http://www.leasingnews.org/archives/January%202007/01-17-07.htm#react

    Ed Castagna to present award
    http://www.leasingnews.org/archives/March%202007/03-09-07.htm#award

    Letter:
    http://leasingnews.org/PDF/Larkin%20LN%20Criticism.pdf

    [headlines]

    ----------------------------------------------------------------

    Leasing News Top Stories---April 13-17

    Here are the top ten stories opened by readers:

    (1) Cat Financial Closes Offices?
    http://www.leasingnews.org/archives/April%202009/04-15-09.htm#cat

    (2) Evans Exits Leasing Business
    http://www.leasingnews.org/archives/April%202009/04-17-09.htm#exit

    (3) Leasing Companies Out of Broker Business
    http://www.leasingnews.org/archives/April%202009/04-17-09.htm#broker

    4) Bank Beat---
    2 Bank Failures/Depositors lose $150MM

    http://www.leasingnews.org/archives/April%202009/04-13-09.htm#beat

    (5) Changes at Puget Sound Leasing
    http://www.leasingnews.org/archives/April%202009/04-17-09.htm#puget

    (6) Greystone, Burlington, MA---Up-date
    http://www.leasingnews.org/archives/April%202009/04-15-09.htm#grey

    7) Computer Scam Dampens Easter
    http://www.leasingnews.org/archives/April%202009/04-13-09.htm#scam

    (8) The First “saved” Leasing News edition
    http://www.leasingnews.org/archives/April%202009/04-17-09.htm#1st

    (9) Greystone not Funding (no question mark)
    http://www.leasingnews.org/archives/April%202009/04-17-09.htm#grey

    (10) Florida Attorney General going after Global Leasing
    http://www.etrucker.com/apps/news/article.asp?id=77765

    [headlines]

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    Cartoon—Greystone Department Head Meeting

    [headlines]

    ----------------------------------------------------------------

    Bank Beat-- 25 Bank Failures matching 2008

    Bank Beat--One More Bank Failure: Georgia, again!!!

    Omni National Bank, Atlanta, Georgia, became the 21st bank to fail this year, the ninth in Georgia in the last 12 months.* SunTrust will operate the six former branches of Omni National, on behalf of the receiver, until April 27, 2009. Omni National had branches in Atlanta, Georgia; Dalton, Georgia; Tampa, Florida; Chicago, Illinois, Dallas, Texas; and Houston.

    As of March 9, 2009, Omni National Bank had total assets of $956.0 million and total deposits of $796.8 million. At the time of closing, there were approximately $2.0 million in uninsured deposits that potentially exceeded the insurance limits. This amount is an estimate that is likely to change once the FDIC obtains additional information from these customers. Brokered deposits are not a part of this transaction. The FDIC will pay the $320.1 million in brokered deposits directly to the brokers for the amount of their insured funds. The cost to the FDIC's Deposit Insurance Fund is estimated to be $290 million.
    http://www.fdic.gov/news/news/press/2009/pr09050.html

    Five reasons why bank failures occur more frequently in Georgia
    http://www.ajc.com/news/content/business/stories//2009/02/15/georgia_fail_banks_five.
    html%3Fcxntlid%3Dhomepage_tab_newstab

    The FDIC processed a total of 45 orders in February. These included twenty-one cease and desist orders; seven removal and prohibitions; one order modifying section 8(E) order of prohibition; ten civil money penalties; one prompt corrective action; one termination of insurance; one Order Granting Permission to File Application and Approving Application for Consent to Participate in the Affairs of any Insured Depository Institution (Section 19); and three orders terminating orders to cease and desist.

    Banks are given the opportunity to replace directors, tighten up operations, or are encouraged to merge with stronger institutions. The continual high foreclosure rate and growing unemployment in California is leading to the demise of smaller banks.

    The Los Angeles Times reports, “By the end of 2009, two-thirds of the (California) state's banks will be operating under cease-and-desist orders or other regulatory actions, Anaheim-based banking consultant Gary S. Findley predicts.

    “The FDIC recently began working to hire as many as 600 employees to liquidate the assets of failed banks in the West from a new office in Irvine. FDIC chief Sheila Bair predicts that failures will cost the federal deposit insurance fund $65 billion over the next five years.”

    FDIC list of banks and action:
    http://leasingnews.org/PDF/FDIC_March27.pdf

    American Sterling Bank of Sugar Creek, Missouri, $180 Million bank, was closed on Friday by The Office of Thrift Supervision (OTS). There were no buyers. American Sterling was established in 1907 as the Bank of Levasy, later became a national bank called Sugar Creek National Bank and became a federal savings bank regulated by the OTS in 2001.

    American Sterling had 142 employees and $166.7 million in retail deposits. The bank had its home office and two other full-service offices in the Kansas City area, and two other branches in Carefree, Ariz. and Foothill Ranch, Calif.

    A comprehensive examination of American Sterling that began on June 30, 2008 discovered poor record-keeping, a critical lack of capital and liquidity issues. OTS issued directives to remedy these deficiencies and issued a formal cease-and-desist enforcement order to the Board of Directors in August 2008. Despite these actions, the deficiencies caused American Sterling to be in an unsafe and unsound condition, and unable to continue operations. Attempts to complete a sale of the bank were unsuccessful.
    http://files.ots.treas.gov/690017.pdf
    http://www.muninetguide.com/states/missouri/municipality/Sugar_Creek.php

    Elko County sheriff’s deputies and agents of the Federal Deposit Insurance Corp. are seen Friday night outside the downtown branch of Great Basin Bank of Nevada. Great Basin was seized by the federal agency after being declared insolvent by the state Financial Institutions Division.
    (Hope Cripps/Elko Daily Free Press)

    Great Basin Bank of Nevada, Elko, Nevada, became the 25 bank to fail this year, matching the total of 25 bank failures for the year of 2008. The Elko bank was closed on Friday by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Nevada State Bank, Las Vegas, Nevada, to assume all of the deposits of Great Basin Bank of Nevada, opening the five branch offices today (Monday) under their name
    (two in Elko and one each in Spring Creek, Winnemucca and Fallon.)
    Great Basin has 54 branches statewide — including branches in Elko, Wells and Wendover — and according to Haun is the oldest state-chartered bank in Nevada.

    As of December 31, 2008, Great Basin Bank of Nevada had total assets of $270.9 million and total deposits of $221.4 million. That’s down from about $264 million in assets and $241 million in deposits in late December.

    The FDIC and Nevada State Bank entered into a loss-share transaction on approximately $143.4 million of Great Basin Bank's assets.The FDIC estimates that the cost to the Deposit Insurance Fund will be $42 million.
    http://www.fdic.gov/news/news/press/2009/pr09055.html
    http://www.elkonevada.com/

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

    Current cost of funds 2.38%
    http://files.ots.treas.gov/230094.pdf

    [headlines]

    --------------------------------------------------------------

    Leasing 102
    by Mr. Terry Winders, CLP

    Additional Reasons to Offer an Operating Lease

    GAAP rules require the lessee to pass four tests to classify a transaction as an operating lease. Tax status of the lease does not impact the decision regarding operating lease or capital lease. Think of the requirements for operating lease classification in these terms. Ownership! When will it occur or can you assume it will occur in the future? GAAP rules revolve around this question. Therefore the four criteria are: Is there an automatic transfer of ownership? Does a bargain purchase option exist? Is the lease term greater than or equal to 75% of the leased assets economic life? Is the present value of the minimum lease payments greater than or equal to 90% of the leased assets Fair Market Value? If the Lessee can answer no to these questions then you will have an operating lease.

    Now what good is an operating lease?

    The payments on an operating lease are charged as rent expense and are not broken down into principal and interest. Also if the rent requirements follow the actual use of the equipment the rent is charged as an expense as it occurs. If we think about it most equipment used in production has periods of heavy use and periods of light use or may be taken out of production altogether for overhaul or maintenance so make arrangements for rent holidays or skip payments or irregular payments to match actual use. Also a strong argument can be made for higher payments in the beginning when the equipment is new and little or no maintenance is required and lower payments in the future when the equipment is less productive or needs maintenance. When rent follows use it also follows revenue lowering the possibility of delinquency. When rent follows revenue the income statement of the lessee is also improved and is a help with cost accounting.

    Rent Holidays:

    Leasing can give the lessee three months before the start of the lease payments to give the lessee time to install, use and get paid for that use before payments start. (In operating leases there is no expense for this period but there is in capital leases). Occasionally the lessee has no funds in this year’s budget and wants payments to start beginning the next budget year. Again an operating lease performs best for this need.

    Irregular rents to follow seasonality:

    Many businesses have seasonality to their cash flow and revenue stream. Establishing payments that follow the results of that seasonality supports the companies need to handle cash flow issues and income statement presentation. The market for this touches everything from agriculture to manufacturing. Payment streams that are created to meet customers’ irregular use of the equipment will give you a strong leg up on level payment programs because you are helping management control the business instead of requiring them to fit in some mold created by the accountants or bankers.

    Residuals:

    None of this works unless you are a student of residual values and discovering how the customer plans to use the equipment and in what fashion. Residuals are only risky when no knowledge about is use and future value are taken into consideration prior to creating the lease proposal. A well thought-out residual will enhance your transaction and force you to get involved in the equipments use making your lease a well informed transaction instead of a disguised loan.

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

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

    [headlines]

    #### Press Release ##############################
    ---------------------------------------------------------------------

    News Briefs----

    Black Churches Earmarked In Leasing Kiosk Scam?
    http://news.ncmonline.com/news/view_article.html?article_id=ae69dfd580c30c99d33fd0e6722ab40c

    Why Trinity Industries Is Undervalued
    http://seekingalpha.com/article/131591-why-trinity-industries-is-undervalued

    U.S. can avoid bank nationalizations: White House
    http://www.boston.com/business/articles/2009/04/19/us_can_avoid_bank_national
    izations_white_house/

    Leasing Rates fall in Middle East
    http://www.business24-7.ae/articles/2009/4/pages/14042009/04152009_a7db7eac4ad34109
    998d1a570a06b6fa.aspx

    Putin’s Tariffs Stall Russian Expansion for Caterpillar, Deere
    http://www.bloomberg.com/apps/news?pid=20601087&sid=aR1e4WmGYTMA&refer=home

    Airbus, Boeing Production Rates May Need Further Reduction
    http://www.aviationweek.com/aw/generic/story_generic.jsp?channel=awst&id=news/aw042009p3.xml

    FEDS to Tax Web to Bolster State Revenues
    http://www.nypost.com/seven/04192009/business/www_salestax_gov_165098.htm

    CEO: Bankruptcy 'probable' for GM
    http://www.upi.com/Business_News/2009/04/18/CEO-Bankruptcy-probable-for-GM/
    UPI-80811240058403/

    Miss North Carolina USA crowned Miss USA 2009
    http://tv.yahoo.com/miss-usa-2009/show/44610/news/urn:newsml:tv.ap.org:
    20090420:miss_usa__ER:7374

    [headlines]

    ---------------------------------------------------------------

    You May have Missed---

    Madoff accountant may be in plea talks with prosecutors
    http://www.usatoday.com/money/markets/2009-04-17-madoff-accountant_N.htm

    [headlines]

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    Sports Briefs----

    Hawks crush Heat in Game 1 of playoff series
    http://www.ajc.com/sports/content/sports/hawks/stories/2009/04/19/hawks_beat_heat_
    playoffs.html?cxntlid=homepage_tab_newstab

    Sixers rally, steal Game 1 from Magic on Iguodala's jumper
    http://www.usatoday.com/sports/basketball/nba/2009-04-19-sixers-magic-game-1_N.htm

    Cruising with Madden
    http://blogs.pressdemocrat.com/default.asp?item=2365801

    Madden says rumor untrue, not consultant for Raiders
    http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/18/SP1N174E5O.DTL&feed=rss.raiders

    [headlines]

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    California Nuts Briefs---

    Last Saturday SF 1906 Anniversary-Photo's
    http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/17/BAS91737GT.DTL

    [headlines]

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    “Gimme that Wine”

    Monterey Vintners/Winery Assoc. to honor my neighbor Jerry Lohr
    http://www.winebusiness.com/news/?go=getArticle&dataid=63810

    Ten Organic Wines Worth A Try
    http://www.forbes.com/2009/04/16/organic-biodynamic-wine-lifestyle-wine-organic-wine.html

    Wine Prices by vintage
    http://www.winezap.com
    http://www.wine-searcher.com/
    US/International Wine Events
    http://www.localwineevents.com/
    Winery Atlas
    http://www.carterhouse.com/atlas/\
    Leasing News Wine & Spirits Page
    http://two.leasingnews.org/Recommendations/wnensprts.htm
    The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
    http://www.liv-ex.com/

    [headlines]

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    Today's Top Event in History

    1841 - "The Murders in the Rue Morgue," Edgar Allen Poe's first detective story, was published. The story featured C. Auguste Dupin, the first-ever fictional detective. Poe considered his work an example of ratiocination - the process of logical and methodical reasoning.

    [headlines]
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    This Day in American History

        1534 - French explorer Jacques Cartier set sail from St. Malo to explore the North American coastline.
        1657-Asser Levy of New Amsterdam (later New York City) was admitted as a town citizen. Jews were denied the privilege of standing guard and keeping watch, compulsory for all citizens, Asser Levy and Jacob Barsimson objected to the discrimination, after being denied, Levy appealed. He became a prosperous trader, the first Jew to own land in America, and the first to serve on a jury (in 1671, after the colony had been taken over by the English.
        1718- Birth of David Brainerd, colonial American missionary to the Indians of New England. Following his premature death from tuberculosis at 29, Brainerd's journal (published in 1649 by the Jonathan Edwards) influenced hundreds to become missionaries after him.
        1775 - British troops began the siege of Boston.
        1777 - New York adopted a new constitution as an independent state.
        1799-- Napoleon issues a decree calling for establishing Jerusalem for Jews
        1815--- Boston's Handel and Hayden Society which claims to be the oldest singing group in the United States was made up of members of nine Boston churches. It excluded women from membership/ However, the chorus of ninety men "permitted" ten women to perform at its first concert 12-25-1815 of Handel's Creation because it was *written* with women's parts and solos. The barring of women was based on the church's rulings that women were not to lead.
    The melodies were converted to male voices and women were only allowed to sing harmony! Oddly enough, the society hired Miss Sophia Hewitt, the only women they have ever employed as organist and accompanist is its history. She also served as organist at the two major churches in Boston and performed in New York and other parts of New England in concerts and benefits. Following her marriage, the receipts for her pay were signed for by her husband since married women at the time had no legal rights to their own money and could not own property.
        1832 - Hot Springs National Park, the first national park in the United States, was established by an act of Congress. It had been a reservation prior to becoming a national park.
        1836 - Wisconsin Territory is established. Wisconsin, formerly governed as part of the territories of Indiana, Illinois, and Michigan, was established as a separate US territory, with Madison, located midway between Milwaukee and the western centers of population, to be founded as the territorial capital. In 1634, French explorer Jean Nicolet landed at Green Bay, becoming the first European to visit the lake-heavy northern region that would later become Wisconsin. In 1763, at the conclusion of the French and Indian Wars, Wisconsin, a major center of the American fur trade, passed into British control. Two decades later, at the end of the American Revolution, the region came under US rule, and was governed as part of the Northwest Territory. However, British fur traders continued to dominate Wisconsin from across the Canadian border, and it was not until the end of the War of 1812 that the region fell firmly under American control. In the first decades of the nineteenth century, settlers began arriving via the Erie Canal and the Great Lakes to exploit Wisconsin's agricultural potential, and in 1832, the Black Hawk War ended Native-American resistance to white settlement. In 1836, after several decades of governance as part of other territories, Wisconsin was made a separate entity. By 1840, population in Wisconsin had risen above 130'000, but the people voted against statehood four times, fearing the higher taxes that would come with a stronger central government.
    Finally, in 1848, Wisconsin citizens, envious of the prosperity that federal programs brought to neighboring Midwestern states, voted to approve statehood. On 29 April 1848, Wisconsin entered the Union as the thirtieth state.
        1841 - "The Murders in the Rue Morgue," Edgar Allen Poe's first detective story, was published. The story featured C. Auguste Dupin, the first-ever fictional detective. Poe considered his work an example of ratiocination - the process of logical and methodical reasoning.
        1850-birth of American sculptor of Daniel Chester French at Exeter, NH. One of the most important artists of the 19th and early 20th centuries as a sculptor of public monuments, French is best known for his 1875 “Minute Man” statue at Concord, MA, and his 1922 statue of the seated Abraham Lincoln in the Lincoln Memorial at Washington, DC
    http://memory.loc.gov/ammem/today/apr20.html
        1853-Harriet Tubman starts Underground Railroad.
    http://www.americaslibrary.gov/cgi-bin/page.cgi/aa/tubman
    http://www.nyhistory.com/harriettubman/life.htm
        1854-Capt. Creesy sets a world record by sailing from New York to San Francisco in 88 days.
        1861 - Colonel Robert E. Lee resigns from the United States army two days after he was offered command of the Union army and three days after his native state, Virginia, seceded from the Union. Lee opposed secession, but he was a loyal son of Virginia. His official resignation was only one sentence, but he wrote a longer explanation to his friend and mentor, General Winfield Scott, later that day. Lee had fought under Scott during the Mexican War, and he revealed to his former commander the depth of his struggle. Lee interviewed with Scott on April 18, and explained that he would have resigned then "but for the struggle it has cost me to separate myself from a service to which I have devoted the best years of my life and all the ability I possess." Lee expressed gratitude for the kindness shown him by all in the army during his 25-year service, but Lee was most grateful to Scott. "To no one, general, have I been as much indebted as to yourself for uniform kindness and consideration..." He concluded with this poignant sentiment: "Save in the defense of my native State, I never desire again to draw my sword." But draw it he would. Two days later, Lee was appointed commander of Virginia's forces with the rank of major general. He spent the next few months raising troops in Virginia, and in July he was sent to western Virginia to advise Confederate commanders struggling to maintain control over the mountainous region. Lee did little to build his reputation there as the Confederates experienced a series of setbacks, and he returned to Richmond when the Union gained control of the area. The next year, Lee assumed command of the Army of Northern Virginia after General Joseph Johnston was wounded in battle. Lee quickly turned the tables on Union General George B. McClellan, as he would several other commanders of the Army of the Potomac. His brilliance as a battlefield tactician earned him a place among the great military leaders of all time.
        1865 - Safety matches advertised for the first time.
        1871-- Ku Klux Klan Act passed by US Congress. With passage of the Third Force Act, popularly known as the Ku Klux Klan Act, Congress authorized President Ulysses S. Grants to use military force against the Ku Klux Klan. Founded in 1865 by a group of Confederate veterans, the Ku Klux Klan (KKK) rapidly grew from a secret social fraternity to a paramilitary force bent on reversing the federal government's progressive Reconstruction Era-activities in the South, especially in regard to the region's African-American population. The name of the Ku Klux Klan was derived from the Greek word kuklos, meaning circle, and clann, a Scottish Gaelic word for the traditional tribal units of Scotland that reflected the Scottish ancestry of many of the KKK's founding members.
    Under a platform of philosophized white racial superiority, the group employed violence as a means of pushing back the radical reforms underway in the post-Civil War South. Thriving in counties where the two political parties or races were relatively balanced, the KKK engaged in terrorist raids against African Americans and white Southern Republicans at night, employing intimidation, destruction of property, assault, and murder to achieve its aims and influence upcoming elections.
        1880 - Sacramento, California had its heaviest 24 hour rainfall when 7.24 inches fell.
        1893—Harold Lloyd, a comic genius of early American film, Harold Lloyd began acting at 20 years of age, and his career took off when he teamed with producer Hal Roach in the comic “Lonesome Luke” shorts (1916-1917). Lloyd then created the “glasses” character: the boy-next-door whose distinguishing feature was his round horn spectacles. This character thrilled audiences in “daredevil” comedy featuring dangerous stunts. (Lloyd never used a double). Lloyd’s hits included Safety Last (1923), where he dangled from a building’s clock face. The Freshman (1925) and Speedy (1928), the biggest box-office star of the 1930s. Lloyd survived with lesser success in the talkie 1930s. He was given an honorary Oscar in 1953 for being a “master comedian and good citizen.” Born at Burchard, NE. Lloyd died on March 8, 1971 in Hollywood, Ca.
        1908 – Vibraharp/Bank Leader Lionel Hampton birthday. The jazz great was born at Louisville, KY. Hampton started out on piano and rums, but Louis Armstrong urged him to take up the vibraphone in 1930. Hampton went on to make that his signature instrument. He recorded and played with Armstrong, Benny Goodman, Dizzy Gillespie, Benny Carter, and other legends, before becoming a bandleader himself. He played almost up until his death on August 31, 2002, at New York, NY.
        1901 - A spring snowstorm dumped very heavy snow over northeastern Ohio. Warren was buried under 35.5 inches in 36 hours and 28 inches fell at Green Hill. Akron established April snowfall records with 15.6 inches in 24 hours and 26.6 inches for the month.
    1912 After two days of rain, the first game ever is finally played at Fenway Park with a comeback eleven-inning Red Sox win over the New York Highlanders, 7-6.
        1916--In Chicago, the Cubs play their first game at Weeghman Park beating the Reds in 11 innings, 7-6. The ballpark will be renamed Wrigley Field in 1926.
        1920 - Tornadoes in Mississippi and Alabama killed 219 persons.
        1923-Birthday of Tito Puente, The King of the Mambo—or “El Rey” ---was born Ernesto Antonia Puente, Jr. at Spanish Harlem, New York City, to Puerto Rican parents The legendary Puente had a career that spanned more than six decades, starting in 1937. He popularized the timbale, but played many percussion instruments and was also a composer, arranger and bandleader. His album Dance Mania (1948) was an international bestseller, and he released more than 100 albums. His song “Oye Corno Va” was covered by Carlos Santana and has become a classic. Puente won five Grammies, was inducted into the Jazz and Hispanic halls of fame and received a Smithsonian Lifetime achievement Award. President Jimmy Carter pronounced him “The Goodwill Ambassador of Latin American Music. “ Puente died on May 31, 2000, at New York, NY.
        1931 - On Okeh Records, Louis Armstrong recorded, "When It’s Sleepy Time Down South", which would be his theme song for decades. The song was recorded in Chicago, Illinois.
        1934 - Child actress Shirley Temple's first major movie, Stand Up and Cheer, was released to New York theaters on this date. It was the beginning of the most-successful child actor's career in the history of Hollywood.
        1939-Ted Williams made his major league debut for the Boston Red Sox, getting one double in four at-bats, as the Sox lost to the New York Yankees, 2-0.
        1939—Billie Holiday records Strange Fruit.
        1939--- New York World's Fair opens
        1939-country-pop singer Johnny Tillotson was born in Jacksonville, Florida. Between 1958 and 1965, he had more than 25 records on Billboard magazine's Hot 100 chart, including "Poetry in Motion," "Without You" and "Talk Back Trembling Lips."
        1939-Birthday of Katherine V. Forrest - U.S. novelist and editor whose erotic lesbian novel Curious Wine has sold more copies than any lesbian-centered novel since Well of Loneliness. She crossed over to mainstream novels using some lesbian characters, especially a mystery series that features a Los Angeles detective. The detective series is strong on technical police work.
        1945 --Soviet troops enter Berlin.
        1945 ---US 7th Army & allies forces capture Nuremberg & Stuttgart in Germany.
        1945- Allied bombers cut off German retreat in Italy as Hitler celebrates his birthday. Allied bombers in Italy begin Operation Corncob, a three-day attack on the bridges over the rivers Adige and Brenta to cut off German lines of retreat on the peninsula.
    Meanwhile, Adolf Hitler, who has only 10 more days to live, celebrates his 56th birthday as a Gestapo reign of terror results in the hanging of 20 Russian prisoners of war and 20 Jewish children: Of these, at least nine are under the age of 12. All of the victims had been taken from Auschwitz to Neuengamme, the place of execution, for the purpose of medical experimentation.
        1945 - American forces liberated Buchenwald. 350 Americans were imprisoned at Berga, a sub-camp of Buchenwald, following their Dec, 1944, capture at the Battle of the Bulge. Charles Guggenheim's (d.2002) last documentary film was title "Berga."
        1945--*HAYASHI, JOE Medal of Honor
    Private Joe Hayashi distinguished himself by extraordinary heroism in action on 20 and 22 April 1945, near Tendola, Italy. On 20 April 1945, ordered to attack a strongly defended hill that commanded all approaches to the village of Tendola, Private Hayashi skillfully led his men to a point within 75 yards of enemy positions before they were detected and fired upon. After dragging his wounded comrades to safety, he returned alone and exposed himself to small arms fire in order to direct and adjust mortar fire against hostile emplacements. Boldly attacking the hill with the remaining men of his squad, he attained his objective and discovered that the mortars had neutralized three machine guns, killed 27 men, and wounded many others. On 22 April 1945, attacking the village of Tendola, Private Hayashi maneuvered his squad up a steep, terraced hill to within 100 yards of the enemy. Crawling under intense fire to a hostile machine gun position, he threw a grenade, killing one enemy soldier and forcing the other members of the gun crew to surrender. Seeing four enemy machine guns delivering deadly fire upon other elements of his platoon, he threw another grenade, destroying a machine gun nest. He then crawled to the right flank of another machine gun position where he killed four enemy soldiers and forced the others to flee. Attempting to pursue the enemy, he was mortally wounded by a burst of machine pistol fire. The dauntless courage and exemplary leadership of Private Hayashi enabled his company to attain its objective. Private Hayashi’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
        1948 -- Labor leader Walter Reuther is shot and seriously wounded by would-be assassins. Reuther was previously victim of an attempted abduction in April 1938. His brother Victor was shot & nearly at his home by police in 1949. In 1949 the UAW’s headquarters in Detroit was bombed .He later died in a plane crash in 1970 (of the media reports apparently only one paper addressed the possibility that he may have been murdered; In October 1968, both Walter and his brother Victor were almost killed in a small private plane near Dulles Airport).
    http://www.is.wayne.edu/mnissani/media/reuther.htm
        1950---Top Hits
    If I Knew You Were Comin’ I’d’ve Baked a Cake - Eileen Barton
    Music, Music, Music - Teresa Brewer
    Peter Cottontail - Gene Autry
    Long Gone Lonesome Blues - Hank Williams
        1951 - Luther Vandross is born in New York City. His biggest pop hit is ``Power of Love/Love Power,'' which hits No. 4 on Billboard's Hot 100 in 1991. The album ``Power of Love'' reaches No. 1 on both Billboard's pop and R&B album charts.
        1952 - The tankers Esso Suez and Esso Greensboro crashed in a thick fog off the coast of Morgan City LA. Only five of the Greensboro's crew survived after the ship bursts into flame.
        1957-- Westinghouse first to use FORTRAN computer language. The Westinghouse-Bettis nuclear power plant became the first commercial users of FORTRAN, soon to be the dominant computer language for scientific applications. FORTRAN, or Formula Translator, was the first widely used high-level computer language. Developed by IBM researcher John Backus, FORTRAN greatly simplified programming by translating simple English instructions into machine language, saving the programmer hundreds of steps.
        1957-Elvis Presley's "All Shook Up" starts an eight week stay at the top of the US record charts. Songwriter Otis Blackwell would later say that he wrote the tune at the suggestion of an associate who was shaking a bottle of Pepsi. The song went on to be the biggest single of 1957, selling over 2 million copies.
        1958---Top Hits
    He’s Got the Whole World (In His Hands) - Laurie London
    Book of Love - The Monotones
    Don’t You Just Know It - Huey (Piano) Smith & The Clowns
    Oh Lonesome Me - Don Gibson
        1959 - CBS-TV's "Desilu Playhouse" presented a two-part show titled, "The Untouchables" starring Robert Stack. When the program became a weekly show in 1959, Stack became a star.
        1959- 13-year-old Dolly Parton released her first single, "Puppy Love."
        1959--Goldband Records releases "Puppy Love" by Dolly Parton, a song that was recorded two years earlier when she was just eleven years old. The record will flop and Dolly would have to wait until 1967 to make her first Billboard chart appearance.
        1960 -- Elvis Presley's return to Hollywood to film "G.I. Blues" is greeted by tremendous fanfare. Of course, it's the top story on the nightly news & even makes page one of the local newspapers.
        1961 - The Federal Communications Commission (FCC) approved FM stereo broadcasting, but it would be another five or six years before FM stations went ‘underground’ to attract listeners tired of poor audio quality on AM stations. Until then, FM stations broadcast in monaural sound.
        1961 - No. 1 Billboard Pop Hit: ``Runaway,'' Del Shannon. Shannon is the first artist to take a song written by John Lennon and Paul McCartney onto the U.S. pop charts. His version of ``From Me to You'' hits the Hot 100 on June 29, 1963, before the release of the Beatles debut American single, ``I Want to Hold Your Hand.''
        1963 - The movie soundtrack album of West Side Story hit Number 1 on the pop LP chart and stayed there for 2 weeks.
        1963-Rick Nelson married Kris Harmon, daughter of Tom Harmon, the 1940 Heisman Trophy Winner from the University of Michigan. Six months later, on October 25th, Tracy Kristine Nelson was born at St. John's Hospital near Santa Monica.
        1964 - The Elvis Presley movie ``Viva Las Vegas'' premieres.
        1966---Top Hits
    The Ballad of the Green Berets - SSgt Barry Sadler
    (You’re My) Soul and Inspiration - The Righteous Brothers
    Daydream - The Lovin’ Spoonful
    I Want to Go with You - Eddy Arnold
        1968-- Pierre Elliott Trudeau sworn-in as Canada's PM
        1968--The Rolling Stones record "Jumpin' Jack Flash", which will reach #1 in the UK and #3 in the US by next July.
        1969 - Ken Harrelson almost quit major-league baseball when he found out he was being traded from the Boston Red Sox, an American League contender, to the Cleveland Indians, a perennial American League non-contender. He stayed for money, and played for Cleveland after all.
        1969-On the site of a parking lot owned by the University of California, Berkeley a diverse group of people came together, each freely contributing their skills and resources to create People’s Park. This is to be the site of a student revolution.
        1971- The U.S. Supreme Court upheld the use of busing to achieve racial desegregation in schools.
        1971-- Barbra Streisand records "We've Only Just Begun"
        1974---Top Hits
    TSOP (The Sound of Philadelphia) - MFSB featuring The Three Degrees
    Best Thing that Ever Happened to Me - Gladys Knight & The Pips
    The Loco-Motion - Grand Funk
    A Very Special Love Song - Charlie Rich
        1977-The theme song from the TV show Soul Train called TSOP (The Sound Of Philadelphia) topped the Billboard Hot 100.
        1979 - It was reported Johnny Carson was leaving "The Tonight Show". Newspapers in the United States offered ideas why the comedian and late-night host was unhappy after 17 years on the show. More money, more vacation time and a four-day week (he got Mondays off) was just what ‘The Great Carsoni’ need to stay at NBC for another 12 years.
        1980-84 year old George Burns, who starred in the movie Oh God with John Denver, reaches the Billboard Hot 100 with "I Wish I Was 18 Again".
        1982---Top Hits
    I Love Rock ’N Roll - Joan Jett & the Blackhearts
    We Got the Beat - Go-Go’s
    Chariots of Fire - Titles - Vangelis
    The Clown - Conway Twitty
        1982-- With a 4-2 win over the Reds, the Braves record their 12th consecutive victory to establish a major-league record for the most victories from the beginning of the season. The previous mark had been set a year earlier by the Oakland A's.
        1983 --President Ronald Reagan signs a $165 billion bail-out for Social Security
        1984 --a temperature of 106 degrees in Del Rio, Texas set a new record high for April.
        1986 - Michael Jordan of the Chicago Bulls scored a record 63 points in the NBA Playoffs against the Boston Celtics. This NBA Playoffs record included two overtime periods.
        1986 - Pianist Vladimir Horowitz gave his first concert in the Soviet Union for 61 years. He had emigrated in 1925.
        1987 - "Starlight Express", the roller-skating musical, posted the largest week’s gross in the history of Broadway, earning $606,081 at the box office. The revival of "The King and I" starring Yul Brynner was the old record holder in 1985.
        1987- In Columbus, OH, the Evangelical Lutheran Church in America (ELCA) was organized, making it the largest Lutheran denomination in the U.S. It represented the merger of three smaller Lutheran bodies, and was officially born on Jan 1, 1988.
        1987 - Fifty-two cities in the central and eastern U.S. reported new record high temperatures for the date. The high of 92 degrees at Memphis TN was a record for April, and the high of 94 at Little Rock AR equalled their April record.
        1988--Helen Thayer, New Zealand-born American reaches the North Pole on foot and on skis with no mechanical assists. Using a rope attached to her belt, she pulled a sled which held her tent and all her food (and her dog's food). Her sole companion was a husky who would warn her when polar bears were approaching. (The big bears are absolutely silent when they attack.) Temperatures in storms dropped to minus 100 degrees. The 345-mile, 27-day journey marked the first time a woman had reached the North Pole alone. Thayer, a mountain climber and U.S. Luge Champion in 1975, was 50 years old at the time. In 1990 she would serve as the leader of the first International U.S./Soviet Arctic Women's expedition.
    The website at
    http://www.goals.com/thayer/expfrm.htm
    that explains the arctic trip in detail.
        1988-- Claudell Washington hits the 10,000th home run in Yankee history.
        1988 - No. 1 Billboard Pop Hit: ``Where Do Broken Hearts Go,'' Whitney Houston.
        1989 - Hot weather spread from the southwestern U.S. into the Great Plains Region. Twenty-three cities reported new record high temperatures for the date. The afternoon high of 104 degrees at Tucson AZ was an April record, and highs of 87 at Provo UT, 90 at Pueblo CO, and 85 at Salt Lake City UT, equaled April records.
        1990---Top Hits
    I’ll Be Your Everything - Tommy Page
    Don’t Wanna Fall in Love - Jane Child
    Nothing Compares 2 U - Sinead O’Connor
    Five Minutes - Lorrie Morgan
        1990 - A fast moving Pacific storm produced heavy snow in the central mountains and the Upper Arkansas Valley of Colorado, with a foot of snow reported at Leadville. Thunderstorms in the south central U.S. produced wind gusts to 76 mph at Tulsa OK, and heavy rain which caused flooding of Cat Claw Creek in the Abilene TX area. Lightning struck the building housing a fish farm in Scott AR killing 10,000 pounds of fish. Many of the fish died from the heat of the fire.
        1991-Wendy and Carnie Wilson, daughters of The Beach Boys' Brian Wilson, along with Chynna Phillips, daughter of The Mamas and Papas' John Phillips, combined their talents to hit #1 on the Billboard singles chart for the third time with "You're In Love".
        1992-- 100th episode of "Murphy Brown" airs
        1996- In a case that sparked an uproar reminiscent of the Rodney King case in Los Angeles, two Riverside County, Calif., sheriff's deputies were videotaped repeatedly clubbing a Mexican man and woman after a 70-mile highway chase involving a pickup truck suspected of sneaking across the border.
        1997 - Mark McGwire becomes the fourth major leaguer to hit a home run over the left field roof at Tiger Stadium. The A's first baseman joins Harmon Killebrew (1962), Frank Howard (1968), and Cecil Fielder (1990) as the only players to accomplish the feat.
        1998-- Digital TV and Internet over copper wires. US West announced it would deliver digital TV programming and high-speed Internet access using traditional copper telephone wires. The company said it would first offer the service, called VDSL (Variable Digital Subscriber Lines), in Phoenix, providing some 120 television channels, forty digital music channels, Internet access, and telephone services through television sets.
        1999- At Columbine High School, Littleton, CO, students Eric Harris and Dylan Klebold killed 12 other students, a teacher and then themselves. 24 were seriously wounded.
        1999-Billy Joel performs what he says is his last public pop music concert at the Meadowlands in New Jersey. He plans on devoting his efforts to classical music.
        2006 ---Appearing as a pinch hitter at PETCO Park, Julio Franco becomes the oldest major leaguer to hit a home run. The 47-year, 240 days old’s eighth inning blast, which put the Mets ahead in their 7-2 victory over the Padres, surpasses Jack Quinn who accomplish the feat as a pitcher for the Philadelphia A’s at the age of 46 years, 357 days.
        2006-- As the Nationals beat the Phillies, 10-4, Frank Robinson becomes the 53rd manager to win 1000 big league games. The first black skipper, who has also been the dugout leader for the Indians, Giants, Orioles, and Expo, has compiled a 1,000-1,095 in 16 seasons.

    Stanley Cup Champions This Date

        1958 Montréal Canadiens

    [headlines]

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    Baseball Poem

    Stolen Butter

    Chooga-Chooga-Chooga-Chooga-Chooga-Chooga
    Shiny steel tracks and dusty coal stacks
    The line of the 9:30 train,
    Bound for the great big town,
    Pounds and pounds
    On the flat farm ground,
    Traveling all around
    From the wet Northwest,
    Home of farmboys and cold rain,
    To the educated East
    And then right back again.
    In the dining car,
    Full of fur and fun and overweight nuns,
    Our set scene unfolds over the tea:
    The waiter turns left and right
    And then who does he see?

    The ghost of a boy with a bullet in his belly
    Now that’s a tummy-ache!

    Ladies and Gentlemen,
    Here’s one for the books!
    Let’s guess this boy’s destination
    By his height and looks:
    Tall and tan of skin,
    More of a man than a boy
    And with a smile women surely do enjoy.
    He’s got brown eyes and strength to spare
    Look at those white teeth and chestnut hair!
    He’s got calluses on his young hands
    And he’s steady where he stands
    But he’s no worker, I wager,
    But a promising young athlete!
    Where do you go, boy,
    With your bag full of baseball bats and toys?
    To see Orleans, with the swamps and toads?
    “No.”
    To visit the Colossus shining at Rhodes?
    “No.”
    To see hot and hilly San Francisco
    Or maybe the ruin and rubble in Rome?
    “No.” 7

    Well!

    Where is it, then,
    that you want to go, Roy from Idaho?

    “I’m going to the great big city of Chicago,
    Where I’m going to lay the fans down low-
    I’m a baseball player and the best there ever was
    And no one can slam that ball like I does.”

    Oh! He’s a baseball player
    And a home-run hitter, at that!
    Well, he’s quite the coming thing,
    No one sit where he’s sat,
    He might come right back
    And hit you with his bat!
    Let’s have a show, then, boy,
    Let’s see how good you really are!

    “I’m the best there ever was
    And I’m going to be a star.
    I’d like to give you a show,
    I really, really would
    But I got this bullet in my gut
    And I wouldn’t be no good.”
    “But tell you what,
    I’ll practice swinging
    Like I was in the gym
    And you can ooh and aah
    At where I pretend to hit ‘em.”

    The blue eyed woman sits in the corner,
    And reads of pumps and Percival
    But he's heard it all,
    No cups or castles or fishing affairs-
    Look past his lips,
    Worlds you will find there.

    “There’s one!
    And there’s one!
    That’s a homer, right there!”

    ---Anonymous—poem not signed.

    [headlines]

    --------------------------------------------------------------

    SuDoku

    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?

    http://leasingnews.org/Soduku/soduko-main.htm

    [headlines]

    --------------------------------------------------------------

    Daily Puzzle

    How to play:
    http://www.setgame.com/set/puzzle_frame.htm

    Refresh for current date:
    http://www.setgame.com/set/puzzle_frame.htm

    [headlines]

    --------------------------------------------------------------

    http://www.gasbuddy.com/
    http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
    http://www.gasbuddy.com/GB_Mobile_Instructions.aspx

    [headlines]

    --------------------------------------------------------------

    Weather

    See USA map, click to specific area, no commercials

    http://www.weather.gov/

    [headlines]

    --------------------------------------------------------------

    Traffic Live---

    Real Time Traffic Information

    You can save up to 20 different routes and check them out with one click,
    or type in a new route to learn the traffic live

    --------------------------------

    [headlines]

    Independent, unbiased and fair news about the Leasing Industry.
    Ten Top Stories each week chosen by readers (click here)
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