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Vendor/Dealer Leasing Professional, generous commission's package that can lead to base salary and benefits. Join a sales team that has all the right sales tools for developing a successful vendor program in many different industries.

Chris Chiappetta, Phone: 800-669-7527 ext. 1208,
chris@netlease.com

National Machine Tool Financial Corp., funding vendor
programs since 1986. We offer competitive rates and a
credit staff dedicated to vendor programs.
www.netlease.com

Monday, November 16, 2009

Singer/Pianist Diana Jean Krall, OC, OBC born November 16, 1964 Nanaimo, British Columbia, Canada; top album: "All for You: A Dedication to the Nat King Cole Trio (1996)," has toured with Tony Bennett, her latest album, "Quiet Nights," her latest album.
http://www.dianakrall.com/

Headlines---

   Classified Ads---Credit
Sheldon Player Caught w/$700,000 Cash in Duffle Bag
Excel Leasing CEO pleads guilty $50MM Ponzi Scheme
   You Won’t Believe Marlin's New Approval Form
What’s Happening at McCue-NetSol?
    by Christopher Menkin
  Classified Ads---Help Wanted
EverBank (Tygris/NetBank) 197% gain in earnings
  Bank Beat---$986.5 million cost to FDIC
Leasing 102 by Mr. Terry Winders, CLP
    Documentation – Folder Organization
  Leasing News Top Stories-November 9-13
   Aurora, Colorado -- Adopt-a-Pet
Global Franchise Market Anticipates Growth 2010
   October Foreclosure Activity Down 3%
    News Briefs---
Masters of Equipment Leasing Moving
  Should Daley lease Chicago's Water System?
   Bair calls U.S. bank bailout 'not a good thing'
    FDIC Chairman Sheila Bair Statement
TD Bank plans major move into Washington, DC area
   KeyBank Offers $164 Million Bad-Debt Portfolio
      Home-Purchase Index in U.S. Plunges
  Jobless claims fall, hiring gains seem far off
   HP Pavilion Computers Crash, Class Claims
      You May have Missed---
   Madoff auction rakes in $1MM
        Sports Briefs---
             "Gimme that Wine"
    Today's Top Event in History
        This Day in American History
          Football Poem
             SuDoku
                Daily Puzzle
                  GasBuddy
         Weather, USA or specific area
              Traffic Live----

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

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Classified Ads---Credit

Atlanta, GA
9 Years experienced small ticket Credit Analyst seeking full-time position with equipment broker/lessor. Resume available. Email at StuartJablonski@aol.com or www.linkedin.com/in/stuartjablonski
Orange County, CA
10 yrs. exp. middle market credit underwriting/syndication/collections. All collateral. Seeking full-time position with equipment broker/lessor. Resume available uspostalservice@verizon.net
Portsmouth, NH
Middle market credit professional seeking FT. 14 years of exp (5 yrs at a major bank). Previous $2mm authority.
Microsoft Certified Professional. Will consider relocating.
Email: facfour@mac.com

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

Other e-Mail Posting Sites:
http://www.leasingnews.org/Classified/Posting_sites.htm

[headlines]

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Sheldon Player Caught w/$700,000 Cash in Duffle Bag

by Christopher Menkin

It is amazing how this can happen again, using the same procedure and similar business model that sent Sheldon Player to jail for 13 years ago. Several banks wanted to know if brokers or leasing companies were on our mailing list on May 2, 2007 because they should have been forewarned about Equipment Acquisition Resource business.

An insider told Leasing News about news learned at the bankruptcy creditors' meeting: "Sheldon Player, while traveling from Chicago to Jackson Hole via Denver on 9/15/09 was found to have a duffle bag containing $700,000 in CASH. He claimed, when greeted by the federal authorities in Denver, that the cash was gambling winnings. The money was confiscated, but go figure, returned to Sheldon when he "supposedly" produced gambling receipts (which I'd assume he fabricated too).

"We were told that the serial numbers on nearly every piece of equipment are fakes and in some cases the serial tags were attached with double sided tape for easy switching for bank, leasing co, etc. inspection. The total value of all the equipment is believed to be $3-$5 million covering $140MM in lease transactions. The bankruptcy court will likely pursue the accountants, appraisers, etc., but as you suggested . . . a lot of lawyers will earn a lot of money and we duped creditors will take it in the shorts (I can only hope that Sheldon does too . . . in prison!). "

The latest developments involve ICON Capital suit of $21,599,653 of a master lease in default and the collateral of real estate taken, that ICON is trying to have not included in the bankruptcy, but as part of collateral of their master lease.

In the document file there is evidence of Sheldon Player's role in the negotiations and the real estate involved is part of an alleged Wyoming family exemption by player as the real estate in question "is owned not only by Mr. Player and his wife, Donna Malone, but also by Mr. Player's son Dale Player and Mrs. Malone's daughter Dana Malone." It appears ICON received limited guarantees on the property as only two of the four signed the guarantee.

There also is the question of why the additional collateral, as ICON states it learned of Mr. Sheldon's Greyhound Leasing arrest and was requiring it, although records show that a background check was not requested until after the December, 2007 Master Lease was in effect, meaning the additional collateral was not required as part of the original transaction, and therefore may be interpreted that it was part of the lease until ICON Capital learned about Sheldon Players past (for whatever legal technically it brings forth.)

It is interesting to note that an email dated January 9, 2008 in regarding property owned by Player and Malone and possibly others, in going over the collateral for additional real estate came up with this list  (much of it was not included in the ICON Capital lease requirements, as it appears only Wyoming property was used ):

"20 acres in Horse Creek…Jackson Hole (Teton County)
 40 acres Jackson Hole, airport (Teton County)
21.3 acres Jackson Hole…snake river (Teton County)
4 acres, Horse Creek (Teton County)
5 Chicago lots with building downtown Chicago, California Street
2 acres and EAR building Palatine
2 New Chicago condos
1 New Trump tower condo
1 Elgin, Illinois condo
7 condos in Naples, Florida"

Leasing News is in the process of interviewing smaller and regional banks on how they got involved with Equipment Acquisition Resources, some through brokers, lessors, lease packagers, and others through banks selling their leases:

"We were told by ****** that EAR was an exceptionally strong company and we relied heavily on audited financials from Von Lehman as well as invoices from Machine Tool Direct, Inc. and appraisals from Gonia Consulting. Unfortunately, we were one of the later banks that was not told about Sheldon Player's checkered past. Had we been told that EAR's de facto principal was a convicted felon for lease fraud, we never would have done the deal."

Leasing News has been seeking an interview with Heather Fritz, listed by the Better Business Bureau as head of Leasing Innovations, Inc. 261 N. Coast Highway 101, Solana Beach, California. The company was involved in the Bank of Dixon County, Ponca, Nebraska $321,596 lease and current suit against Equipment Acquisition Resources.

It may be those involved in the referral process or acting as the lessor or seller may have financial responsibilities to the creditors involved in the bankruptcy. In addition to assignment guarantees, representations and warranties, there are precedents of those such involved having financial responsibility.

It is interesting that Leasing News could not find Leasing Innovations listed holding a California Finance Lenders License, required in the state, particularly since the company web site states, "LII's Investment Program can help individual Investors as well as banking institutions achieve their investment goals. LII's Investment Program allows an Investor to purchase a stream of monthly, annual, semi-annual, or quarterly payments after personally reviewing the credit information on a particular Entity."

A telephone call has not been returned to date. Leasing News looks forward to receiving any statement or comments from Leasing Innovations.
http://www.leasing123.com/investors.html

Several main news media, including Bloomberg, recently contacted Leasing News after the latest story appeared as they could not locate the original Greyhound indictment or story. It is provided here and confirmed in an interview with Sheldon Player also that appeared in Leasing News May 2, 2007.

1989 Greyhound Case (84 pages):
http://leasingnews.org/PDF/1989_Greyhound_Court_Record.pdf

Sheldon Player 1986 Probation Case:
http://leasingnews.org/PDF/Sheldon_Player.pdf

Icon response regarding real estate collateral (exhibits not attached):
http://leasingnews.org/PDF/Icon_Main_Document.pdf

Previous stories:
http://www.leasingnews.org/Conscious-Top%20Stories/Sheldon_Player.htm

[headlines]

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Excel Leasing CEO pleads guilty $50MM Ponzi Scheme


(photo KCBD.com)

Bennie Lee Judah taken into custody

On April 21, 2009 the SEC froze the assets of Excel Leasing, Lubbock Texas and took over the operation, formally charging the founder of the company Benny Lee Judah for defrauding investors. The technique was very similar to the operation of to HL Leasing, Fresno, California, operated by John Otto and his family. In this instance, the amount was much smaller as Judah was accused of selling only $50 million in unregistered securities to 240 investors between January 2006 and March 2009 and misusing the proceeds. In reality, it was a Ponzi scheme. He promised investors 10% on their investment in Excel Lease Fund, Inc.

He admitted to losing $50,161,707.

KCBD.COM (Channel 11) reporter Ann Wyatt Little wrote, "There are in excess of 250 victims nearly 300," says Federal Prosecutor Dick Baker who adds that many will forever be impacted by Judah's greed. "This is a substantial Ponzi scheme that involves $50 million. Based on my experience with Ponzi schemes the victims generally do not come out whole," he added.

It was not the first time. In 2001, he was ordered to pay a $50,000 civil penalty following allegations he and his company, Excel Leasing, sold $32 million in unregistered securities to investors nationwide between 1987 and 2000.

According to court records, at the time of the latest arrest he was not a registered securities broker.

Leasing brokers told Leasing News that they did sell him leases, and he paid a good commission and was easy to work with.

In pleading guilty, Judah got the maximum sentences, plus will pay a $500,000 fine and serve up to 25 years in prison; 20 years for money laundering and five years on the other charge. KCBD.com reports he "… agreed to pay more than $48 million in restitution as part of the plea negotiation. Receivers are working to find the missing money and track down all of his assets, but no one knows for sure what will be left after all is said and done."

Previous stories:

$40 Million Fraud/Leasing Founder Assets Frozen
http://www.leasingnews.org/archives/April%202009/04-24-09.htm#40

In Defense of Benny Judah/Excel Leasing
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#def

Letter to Editor: re Benny Judah
http://leasingnews.org/letters/june_3_letter_to_editor.html

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You Won't Believe Marlin's New Approval Form

What makes the Marlin Leasing, Mount Laurel, New Jersey new approval form quite different appears in the second paragraph, after the "Terms of Approval," third line:

"(ii) there being no adverse change in Marlin's ability to access the capital markets on acceptable terms,"

Marlin New Approval Form:
http://leasingnews.org/PDF/Marlin_material_change.pdf

[headlines]

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What's Happening at McCue-NetSol?

by Christopher Menkin

NetSol Technologies, Inc., Calabasas, California, reports a $264,000

GAAP loss for its first quarter, ending September 30, 2009.  June 30, 2009.   Full year GAAP net loss applicable to common shareholders of $8.2 million.  Full year EBITDA loss of $2.5 million, or EBITDA loss of $0.09 per diluted share, versus EBITDA of $9.1 million, or $0.35 per diluted share, in the year ago period. NetSol reported EBITDA of $1.2 million for the first quarter of fiscal year 2010.

NetSol, a U.S. corporation provides global business services, is originally based out of Pakistan with many Pakistan officers.


Chairman, CEO, NetSol

Najeeb Ghauri, chairman and chief executive officer, said, "Overall, our revenue and profitability gains reflect our improved execution and the greater leverage we are achieving from our streamlined global operating model."

Reportedly making in roads in Asia, especially China, the United States operation has changed. For instance, after appointing Mitch Van Wye, COO of North America, and moving September 1, 2008 from its 9,000 square foot office in Burlingame, California, to a 10-year lease for the 23,908-square-foot 15th floor of the 16-story building at 2000 Powell St. in the Watergate Office Towers, Van Wye was let go a year later.

The operation then became under communications from Calabasas, according to a NetSol spokesperson, with appointment of Imran Haider, Senior Vice President of NetSol Global Sales, to lead the North American operations by the middle of November.

Also gone are SVP Development Doug Jones, LeasePak architect, VP Sales Todd Brinkmeier, VP Marketing me (champion and protector of the LeasePak brand), branding-marketing genius Andrew Lea (Leasing News Advisor) and then founder John McCue who sold the company for $8.5 million (50% cash with 50% stock) was on the board, then off the board of directors.  Reportedly there is a bare minimum crew working out of the Emeryville office.

Insiders in the software business have told Leasing News NetSol has been trying to balance leasing versus other industries and general IT services in North America as well as balance the global Development Processes to lower costs, as the bay area is a very expensive base of operations. Several believe Mitch Van Wye was an interim step to diversify into other services and also to blend on shore and off shore development. Leasepak, the main produce of McCue before it became NetSol, has not been "emphasized."

Over this time period Over NetSol appears to be been cutting back the on shore component and augmenting it with more offshore. The difficult economy as well as the sluggish software expenditures throughout the Leasing and Finance industry have probably spurred aggressive steps in cost cutting.  Perhaps the removal of Mitch Van Wye was part of a cost cutting measure and a continuing emphasis of moving more administration off shore.


John McCue

Mr. McCue was not available for a comment today, basically saying he was retired.

In an interview with John McCue when he told Leasing News his "...vision in combining with NetSol was to have a global platform--- (actually integrating 3 regional products together).  As we were the only company to actually have live leasing customers around the globe....and then benefit from the lower cost of production with off shore development."

One of the observations has been Oracle entering the finance and leasing market, originally just with the large, major institutions, but working their way in the other aspects.  Their competitors say they now how to sell, cut costs to get a customer, but they don't deliver and support.  It does appear with the recent acquisitions and development of software that it is in the long term profitable venture for Oracle to try to go into these specific verticals.

Once a recovery begins, there is going to be a voracious appetite for financing of capital equipment and probably some creative new packaging an delivery mechanisms (of the leasing service).  Whoever is there to support that should be well ahead of the game and it will completely reshuffle the positioning of the service providers all over again.

"We are very optimistic of NetSol's short-term and long-term outlook as we see strong growth in Asia Pacific as well as the South East Asian emerging markets, while we envision unlimited scope for our niche solutions and services in the Americas from 2010 onwards," Ghauri said.

"We are noticing very positive trends of clients interested in acquiring our solutions and services as our turnaround began in the fiscal fourth quarter of 2009. With our new business pipeline for fiscal 2010 continuing to expand, with particular strength in our China, Asia Pacific and Kingdom of Saudi Arabia operations, we are creating new global opportunities as customers in those regions look for asset finance and lending software solutions to meet the various needs of their other international and local operations."

Full NetSol Press Release:
http://www.marketwire.com/press-release/Netsol-Technologies-Inc-NASDAQ-NTWK-1044740.html

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Classified Ads---Help Wanted

Sales

Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k), 4) Aggressive Commission Structure.
Resumes To: careers@envisioncapitalgroup.com, Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employees, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.

 

Seeking 2 Years + Experience, Vendor Focus Preferred
Well Established Funding Sources
Nearly 15 Years Reputation for Performance
Large Commission Structure
with the Right Book of Business

Confidential Interview: Sarah Weston
Resume: jobs@taycor.com, (310) 895-7718

 

Interviewing Experienced Leasing Salespeople
With Ability to Develop Vendor Relationships
52 year old, Family- owned, Self Funded,
Small Ticket Company

Resumes to: tgalvin@clune.net
www.clune.net

 

Vendor/Dealer Leasing Professional, generous commission's package that can lead to base salary and benefits. Join a sales team that has all the right sales tools for developing a successful vendor program in many different industries.

Chris Chiappetta, Phone: 800-669-7527 ext. 1208,
chris@netlease.com

National Machine Tool Financial Corp., funding vendor
programs since 1986. We offer competitive rates and a
credit staff dedicated to vendor programs.
www.netlease.com

 


5 years experience with established vendor relationships. We offer great funding capacity for transactions $10k to $10MM. Quail Company's established for over 30 years. Submit resume to: jrudin@quailcap.com

About the company: Quail Equipment Leasing 17 years in business with the ability to develop specialized programs for vendors and unique industries: $10K to $10MM.

[headlines]

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EverBank (Tygris/NetBank) reports 197% gain in earnings

Jacksonville, Florida -The merger of Tygris Commercial Finance, with a promise of a $65 million cash infusion, follows EverBank's purchase of NetBank Businesses in May 2007. NetBank Leasing was purchased from the OTS by Resource America's LEAF Corporation. EverBank® Financial Corp recently announced third-quarter net income of $15.7 million, a 197% increase from $5.3 million in the third quarter of 2008 and a 37% increase over the $11.5 million recorded in the second quarter of 2009. Earnings benefitted from strong mortgage banking results and attractive mortgage asset portfolio returns. Assets grew to $7.7 billion and deposits grew to $6.1 billion, representing 18% and 36% increases, respectively.

"Our third-quarter results reflect the full impact of our 2008-2009 capital deployment initiative while further demonstrating the benefit of our diversified business model," said Rob Clements, Chairman and CEO of EverBank Financial Corp.

 "We look forward to continued growth as a result of our impending Tygris acquisition and the opportunity to deploy $535 million in capital towards lending and deposit expansion and additional acquisitions." Last week, EverBank announced it had reached a definitive agreement to acquire Tygris Commercial Finance Group, Inc., a stock-for-stock transaction that will increase EverBank's capital base by approximately $470 million, and is expected to have a positive impact on earnings.

"EverBank's capital position will be significantly enhanced upon consummation of the acquisition, resulting in expected Tier 1 (core) capital and risk based capital ratios of approximately 11% and 19%, respectively. The acquisition agreement also includes a $65 million pre-acquisition cash investment by Tygris into EverBank designed to provide EverBank with growth capital prior to the consummation of EverBank's acquisition of Tygris."

Look for EverBank to be more in the Leasing News.

[headlines]

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Bank Beat---$986.5 million cost to FDIC

The FDIC board approved the plan to charge a three year fee to member banks, adding an estimated $45 billion to the FDIC's deposit insurance fund, which has fallen below mandated levels. The prepayments mark the second unscheduled assessment issued to banks this year by the FDIC. Banks paid a "special one-time assessment" in September. Last Friday is a good example why as three banks failed and the estimated cost to the FDIC is $986.5 million.

Also remember, all original investors, stock holders in the bank, lose everything, but depositors are insured to a certain level and assets/liabilities are born both by the FDIC and the purchasers of the bank.

Pacific Coast National Bank, San Clemente, California, founded May 16, 2005, with two branches and 28 full time employees was closed with Sunwest Bank, Tustin, California, to assume all of the deposits. They became the 123rd bank to fail this year, fifteenth in California.

In 2008, the bank was named "Business of the Year" by the Encinitas Chamber of Commerce.


(photo: HeraldGlobe.com)

As of August 31, 2009, Pacific Coast National Bank had total assets of $134.4 million and total deposits of approximately $130.9 million. June 30, 2009 Tier 1 risk-based capital ratio 3.73%. Net equity had dropped from $11.4 million June 30, 2008 to $4.7 million June 30, 2009, with net income in the same time period going from a loss of $1.1 million to $4.5 million with a charge off of $2.1 million.

January 6, 2009, Pacific Coast National Bank received $4,120,000 from the U.S. Treasury through the sale of 4,120 shares of the Company's newly authorized Fixed Rate Cumulative Perpetual Preferred Stock, Series A, as part of the federal government's TARP Capital Purchase Program.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27.4 million.
http://www.fdic.gov/news/news/press/2009/pr09207.html

The 23 branches of Orion Bank, Naples, Florida, are now open as IBERIABANK, Lafayette, Louisiana, who also assumed all the deposits.

IBERIABANK Corporation is the second largest bank holding company headquartered in Louisiana with 60 branches before the purchase of Orion Bank and Century Bank, Federal Savings Bank, Sarasota, Florida, now operating 96 branches with the two purchases.

Orion was the 11th bank to fail in Florida this year. Founded in February 28, 1977, the bank had 280 full time employees. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $615 million.

As of October 31, 2009, Orion Bank had total assets of $2.7 billion and total deposits of approximately $2.1 billion. Net equity had dropped only $8 million, going from $159.3 in June 30, 2008 to $151.3 June 30, 2009, but in the same period net income had gone from $8.3 million to a loss of $7.7 million, with $22.4 million charge off with a Tier 1 risk-based capital ratio 8.20% with a real problem of non-current loans going from $108.9 million June 30, 2008 to $216.2 million.

Part of the charge offs were attributed to Neil Mohammad Husani, who the HeraldTribune.com described as "the notorious Southwest Florida real estate flipper who has been indicted for loan fraud." According to the report, the regulators had been complaining about the lending practices of the bank.

The FDIC and IBERIABANK entered into a loss-share transaction on approximately $1.9 billion of Orion Bank's assets.
http://www.fdic.gov/news/news/press/2009/pr09206.html

Century Bank, Federal Savings Bank, Sarasota, Florida, founded January 23, 1985 with 11 branches and 133 full time employees is now IBERIABANK, Lafayette, Louisiana, who assumed all the deposits.

As of October 31, 2009, Century Bank, FSB had total assets of $728 million and total deposits of approximately $631 million. The FDIC accepted a 1.5 percent discount on the deposits of the failed bank from IBERIABANK. Tier 1 risk-based capital ratio 2.89% June 30, 2009. Bank equity had dropped from $49.5 million June 30, 2008 to $13.2 million June 30, 2009 with net income going from a loss of $12.1 million in the same time period to $33.54 million, including a $23.1 million charge off.

The Pacific.bizjournal.com noted the bank had been under pressure from regulator: "Regulators said Century Bank in Sarasota made too many risky loans without having adequate policies in place to manage the risks presented by those loans and without setting aside enough reserves to cover loan losses. The bank relied too heavily on shorter-term certificates of deposits and brokered deposits and let its capital levels fall too low, OTS said. OTS also charged Century with violations of the Truth in Lending Act and National Flood Insurance Act."

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $344 million.
http://www.fdic.gov/news/news/press/2009/pr09205.html

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

Previous Bank Beat columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

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Leasing 102

by Mr. Terry Winders, CLP

Documentation – Folder Organization

I function as a procedure auditor for leasing companies that want to know how there back office operation stacks up and can it be improved? Sometimes the back office customer files scare me to death. One of the most common back office problems is lack of organized customer files. They contain many documents and it is imperative that they are separated into the proper sections and filed in a secure location. A messy customer or document file is a recipe for disaster.

The first question is how to organize the files and what need is there to "dig" into them over the life of the lease. The more people that have daily access to the files the more important that they be very organized internally.

I would start by presenting a warning that the legal agreements rule what happens, not your bookkeeping system!  Make sure that what you book is exactly what the lease agreement calls for and if you purchase packaged business then make doubly sure grace periods, late charges, end of the lease options are placed in the accounting package correctly. Also if a request for early termination occurs make sure you reread the lease agreement and follow the terms presented there.  Leases are not loans and are non-cancelable, a legal requirement you cannot ignore it to the determent of your agreement. If you do not follow the terms of your agreement then expect challenges on your portfolio, for both legal and tax, during audits and defaults.

A file should be created to contain all legal documents and stored in fire proof safe or at a secure off sight location. Because you need to follow the terms of the lease and you may want to refer to the lease agreements, plus other schedules, during the term there are many ways to accomplish it without tearing into the legal file. Make a copy and place in the customers file, or scan it into the computer, or create a lease summary sheet with all the important data (sometimes called a transaction summary) and place into the customer folder.

Some companies separate the credit file from the legal file but I like to have a customer file and a separate legal file. I like to separate the customer file into six sections with bendable tabs so each document can be secure in the folder. On many occasions I have had to go through a mountain of documents to find what I was looking for and noticed that because it had happened so many times that the papers were bent and lost. A strong six section folder that can stand the test of time is not cheap but a necessary tool.

The six section headings are: 1) Transaction summary including authority to lease, 2) Pricing and proposals, 3) Credit application, credit reports, and financials 4) insurance  5) Correspondence 6) Copy of lease agreements legal files. This list of subjects will change based on the type of leasing activities pursued however by creating separate sections you limit the number of documents you need to sift through to file the answer to your question. You can organize them anyway you want but based on your operation the more you separate the less time you lose finding something. Perhaps you need an eight or ten section folder.

Each lease should have its own customer folder or at least a separate section but I think only one legal folder is required. Occasionally a lessee has a lot of transactions, or a very large equipment list requiring inspections and reviews. This may require a separate equipment section to contain filings, vendor invoices, delivery documents and purchase orders. Remember complete descriptions and use an equipment use and description form and place it in this section.

A customer folder is one of the most important files in a leasing company and needs, however organized, to be capable of having many people dig through it and find answers to questions quickly without destroying the integrity of the file. I have seen lots of wasted hours as someone frets over a document they cannot find because it was lost or misfiled. The stronger the file the cheaper it is to run a back office.

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

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

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Leasing News Top Stories-November 9-13

Here are the top ten stories opened by readers:

(1) Dash on his way Home
http://leasingnews.org/archives/November%202009/11-11-09.htm#Dashhome

(2) Marlin Business Bank
http://leasingnews.org/archives/November%202009/11-09-09.htm#MarlinBusiness

(3) Loan Officers Say Q3 Credit Standards Tightened
http://leasingnews.org/archives/November%202009/11-11-09.htm#loantight

(4) Approaching Banks with Leasing Programs
by Barry S. Marks, CLP
http://leasingnews.org/archives/November%202009/11-11-09.htm#marksbank

(5)  Coston appointed in IFC Credit Bankruptcy
http://leasingnews.org/archives/November%202009/11-09-09.htm#IFC_Credit

(6) ZRG Partners Leasing Employment Index
http://leasingnews.org/archives/November%202009/11-11-09.htm#ZRG_employ

(7) Leasing 102 by Mr. Terry Winders, CLP
End of the lease options
http://leasingnews.org/archives/November%202009/11-09-09.htm#Leasing102

(8) New Development in EAR Law Suits
http://leasingnews.org/archives/November%202009/11-09-09.htm#EAR_Lawsuits

(9) Sales makes it Happen---by Christopher Menkin
The Zen of Leasing
http://leasingnews.org/archives/November%202009/11-11-09.htm#sales_zen

(10) Bank Beat--- Five Failures Last Week
One Chinese/Two Black
http://leasingnews.org/archives/November%202009/11-09-09.htm#Bank_Beat

[headlines]

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Aurora, Colorado -- Adopt-a-Pet


Male, 1.5 years old, 40 lbs.

"Hi, I'm Cosmo. I'm a beautiful little boy who just loves to cuddle. I'm so happy to see my foster family every time I wake up. I'm learning how to play with my big sister. She is teaching me a lot. I love to go on walks and I'm really good on the leash!"

Contact: pj@coloradoheelers.com
http://www.nhcdrescuecolorado.com/adopt.htm

New Hope Cattle Dog Rescue of Colorado
P.O. Box 460064
Aurora, CO 80046
(720) 201-5241
http://www.nhcdrescuecolorado.com

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/

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

Global Franchise Market Anticipates Growth in 2010

World Franchise Leaders Gather in Brazil for World Franchise Council Meeting

WASHINGTON, —Delegates attending the World Franchise Council meeting in Bahia, Brazil recently reported the global franchising market was in strong health and anticipated growth in 2010, the International Franchise Association said today.

The WFC is comprised of franchise organizations from 41 countries each representing the franchising sector in their respective countries and represents 30,500 brands with over 2.5 million outlets. In the United States, franchising creates 21 million jobs at 900,000 locations nationwide and contributes $2.3 trillion in economic output.

"The franchising model is growing strongly in almost all regions of the globe, including the developing economies of central Asia, Eastern Europe, and South America," said IFA President & CEO Matthew Shay, who represented the United States at the meeting. "Leaders attending the meeting were optimistic that franchise companies would help lead the way to a global economic recovery, creating jobs and economic output in countries around the world."

Shay said that many member countries reported resilient franchise revenue and profitability in 2009, despite the global financial crisis. While some markets did experience some contraction, the majority of countries in Europe, Asia and the Americas reported better than expected results, and strong optimism for improved trading in 2010.

For example, Brazil, expects to close 2009 with a 14.5 percent increase in national franchising sales turnover – from $32.3 billion at the end of 2008 to $37.1 billion at the end of 2009. Brazil expects franchisee numbers to grow 6 percent by the close of the year, from 72,000 at the end of last year, to 76,000 at the end of 2009.

Australia also reported strong franchise business growth, with the number of systems in operation growing more than 10 percent from October 2008 to October 2009 (according to figures compiled by franchise trading and information website www.franchisebusiness.com.au) as well as resilient profitability in most market segments.

Shay reported that the U.S. franchise industry was projected to see modest declines in 2009 due to the credit crisis in the country. Despite the lack of access to credit, however, U.S. franchise businesses are expected to continue outpacing other U.S. business sectors in terms of job, unit and output growth. Preliminary predictions for 2010 expect the franchise industry to regain its growth trend. The U.S. has the largest franchise industry accounting for 20 million jobs and contributing $2.3 trillion to the annual U.S. economy.

During the meeting held Nov. 2-4, delegates also continued work on a new strategic plan for the WFC to outline how the organization will play a more proactive role in the development of franchising in 2010 and beyond, especially in assisting developing nations grow their franchise industries.

IFA will host the next meeting of the WFC during its 50th Annual Convention in San Antonio, Texas, Feb. 4-8, 2009. For more information and to register for the convention, click here.

About The International Franchise Association
The International Franchise Association, the world's oldest and largest organization representing franchising, is the preeminent voice and acknowledged leader for the industry worldwide. Approaching a half-century of service with a growing membership of more than 1,250 franchise systems, 10,000-plus franchisees and more than 500 firms that supply goods and services to the industry, IFA protects, enhances and promotes franchising by advancing the values of integrity, respect, trust, commitment to excellence, honesty and diversity. For more information, visit the IFA Web site at www.franchise.org. 

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

October Foreclosure Activity Down 3 Percent From Previous Month, Up 19 Percent From October 2008

IRVINE, Calif. – RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its October 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 332,292 U.S. properties during the month, a decrease of 3 percent from the previous month but still up nearly 19 percent from October 2008. The report also shows one in every 385 U.S. housing units received a foreclosure filing in October.

"Three consecutive monthly declines is unprecedented for our report, and on first blush an indication that the foreclosure tide may be turning," said James J. Saccacio, chief executive officer of RealtyTrac. "However, the fundamental forces driving foreclosure activity in this housing downturn — high-risk mortgages, negative equity, and unemployment — continue to loom over any nascent recovery. And despite all the efforts and resources directed at helping homeowners avoid foreclosure, we continue to see foreclosure activity levels that are substantially higher than a year ago in most states."

Nevada, California, Florida post top state foreclosure rates

Despite a 26 percent decrease in foreclosure activity from the previous month, Nevada continued to document the nation's highest state foreclosure rate — one in every 80 housing units received a foreclosure filing in October. A total of 13,842 Nevada properties received a foreclosure filing during the month, a 4 percent decrease from October 2008 and the first ever year-over-year decrease in Nevada since RealtyTrac began tabulating the year-over-year change in January 2006. Nevada default notices were down 10 percent from October 2008, and scheduled foreclosure auctions were down 6 percent from October 2008, while bank repossessions were up 8 percent from October 2008. A new foreclosure mediation program implemented by state law (AB 149) in July may be slowing the inflow of distressed properties into the foreclosure pipeline.

With one in every 156 housing units receiving a foreclosure filing in October, California posted the nation's second highest state foreclosure rate for the second month in a row. A total of 85,420 California properties received a foreclosure filing during the month, a decrease of 1 percent from the previous month but still nearly 50 percent above the total reported in October 2008. The state's default notices and scheduled foreclosure auctions were up 120 percent and 73 percent respectively from October 2008, when California foreclosure activity was in the midst of a three-month trough after a law (SB 1137) requiring lenders to give distressed homeowners extra notification before initiating foreclosure took effect in September 2008.

Florida posted the third highest state foreclosure rate, with one in every 168 housing units receiving a foreclosure filing in October. A total of 51,911 Florida properties received a foreclosure filing during the month, a nearly 6 percent decrease from the previous month and a decrease of 4 percent from October 2008. It was the first year-over-year decrease in overall Florida foreclosure activity since July 2006.

Other states with foreclosure rates ranking among the nation's 10 highest were Arizona, Idaho, Illinois, Michigan, Georgia, Maryland and Utah.

Four states account for more than 50 percent of national total

Four states accounted for 52 percent of the nation's total foreclosure activity in October: California, Florida, Illinois and Michigan.

Illinois posted the third highest state total after California and Florida, with 19,946 properties receiving a foreclosure filing in October — a 56 percent spike from the previous month and the highest monthly total for Illinois since RealtyTrac began issuing its report in January 2005. The state's foreclosure rate jumped from No. 11 in September to No. 6 in October, and it was the only state with a foreclosure rate in the top 10 to post a monthly increase in foreclosure activity. A recent state law (SB 2513) that gives distressed homeowners an extra grace period to seek counseling to help avoid foreclosure may have created some pent-up foreclosure activity in the state. After the law went into effect in April, Illinois foreclosure activity decreased for three straight months before beginning to climb again.

Michigan registered the fourth highest state foreclosure activity total despite a nearly 2 percent decrease from the previous month. A total of 16,468 Michigan properties received a foreclosure filing in October, an increase of nearly 45 percent from October 2008.

Other states with totals among the 10 highest in the country were Nevada (13,842), Arizona (13,345), Georgia (12,468), Texas (11,798), Ohio (11,646) and New Jersey (7,435).

Three states account for all top 10 metro foreclosure rates

Despite a 27 percent decrease in foreclosure activity from the previous month, Las Vegas continued to document the nation's highest foreclosure rate among metropolitan areas with a population of at least 200,000. One in every 68 Las Vegas housing units received a foreclosure filing in October — more than five times the national average.

Seven of the top 10 metro foreclosure rates were in California, led by Vallejo-Fairfield at No. 2 and Modesto at No. 3, both with one in every 81 housing units receiving a foreclosure filing. Other California cities in the top 10 were Riverside-San Bernardino-Ontario at No. 4 (one in 83), Bakersfield at No. 6 (one in 97), Merced at No. 7 (one in 100), Stockton at No 8 (one in 116), and Sacramento-Arden-Arcade-Roseville at No. 10 (one in 130).

Metro areas in Florida accounted for the remaining two spots in the top 10: Cape Coral-Fort Myers at No. 5 (one in 92) and Orlando-Kissimmee at No. 9 (one in 117).

Full list of state by state at the end of the press release:
http://www.realtytrac.com/contentmanagement/pressrelease.aspx?channelid=9&accnt=0&itemid=7856

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News Briefs----

Masters of Equipment Leasing Moving
http://www.signonsandiego.com/news/2009/nov/15/masters-of-specialty-moving/

Should Daley lease Chicago's Water System?
http://www.chicagotribune.com/news/chi-chicago-water-16-nov16,0,6718001.story

Bair calls U.S. bank bailout 'not a good thing'
http://www.reuters.com/article/financialsSector/idUSN1348184220091113

FDIC Chairman Sheila Bair International Bankers Conf. remarks
http://www.fdic.gov/news/news/speeches/chairman/spnov1009.html

TD Bank plans major move into Washington, DC area
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/15/AR2009111502117.html

KeyBank Offers $164 Million Bad-Debt Portfolio
http://www.creditcollectionsworld.com/article.html?id=200911120NMLU4CQ&from=creditandcollectionnews

Home-Purchase Index in U.S. Plunges to Lowest Level Since 2000
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1_pyNFw6mbg&pos=5

Jobless claims fall, but hiring gains seem far off
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/12/financial/f053353S04.DTL

HP Pavilion Computers Crash, Class Claims
http://www.courthousenews.com/2009/11/13/HP_Pavilion_Computers_Crash_Class_Claims.htm

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You May have Missed---

Madoff auction rakes in $1MM
http://www.usatoday.com/news/nation/2009-11-14-madoff-auction_N.htm

2 of Madoff's computer programmers charged in Ponzi coverup
http://www.usatoday.com/money/industries/brokerage/2009-11-13-madoff-air-charter-jet_N.htm

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Sports Briefs----

It's clear Tom Cable has lost faith in Raiders quarterback JaMarcus Russell
http://www.contracostatimes.com/sports/ci_13790143?nclick_check=1

Stanford close to finalizing new deal for Harbaugh
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/15/sports/s144401S71.DTL

Writing a Sports Column Far From Print, and the Game
http://www.nytimes.com/2009/11/16/business/media/16simmons.html?_r=1&ref=business

NFL Scoreboard
http://nytimes.stats.com/fb/scoreboard.asp

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“Gimme that Wine”

Fine wine prices edge higher
http://www.ft.com/cms/s/2/4ef2f25e-cfa4-11de-a36d-00144feabdc0.html

Iowa Grapegrowers Turn Inventors
http://www.winesandvines.com/template.cfm?section=news&content=69040&htitle=Iowa%20Grapegrowers%20Turn%20Inventors

Using dry ice to blast wine barrels clean
http://www.sthelenastar.com/articles/2009/11/12/business/local/doc4afb5ace1c7e7603579417.txt

Winery definition affects all of us
http://www.sthelenastar.com/articles/2009/11/12/opinion/editorial/doc4afb5be586fab290440523.txt

Suspect in wine blaze may avoid trial with plea
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/11/15/BAMF1AKUTP.DTL&tsp=1

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

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Today’s Top Event in History

1920- The postage meter was officially set at Stamford, CT, by the Pitney-Bowes Postage Meter Company. Although the idea of metered mail originated in 1900, when the American Postage Meter Company was organized in Chicago, it was not until September 1, 1920, that the Post Office Department approved it. About $2 million was spent on research and development of the machine. Today they have a near monopoly on this device. You cannot purchase the meter, you must "rent" it.

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This Day in American History

    1620- Fifteen pilgrims lead by Captain Myles Standish, William Bradford, Stephen Hopkins and Edward Tiley discovered corn on the future site of Provincetown, MA. They named the place "Corn Hill." This vegetable would become a staple for the settlers. The Indians also taught them how to make pop corn, a very popular item even way back then.
    1747- Knowles Riot in Boston; hundreds of sailors, laborers & free blacks rise up against British Navy Press Gangs, temporarily forcing an end to impressments in the Royal Navy. Many believe this gave rise to the American Revolution, although there were several such acts of rebellion, none as dramatic as this as it was a "mob act," mostly poor whites and black, and not planned such as the Boston Tea Party.
http://www.kellscraft.com/bostonillustrated/bostonillustrated01a.html
http://www.psupress.org/Justataste/samplechapters/justatastePencak.html
http://www.eco.utexas.edu/facstaff/Cleaver/HydraArticletable.pdf
    1766- Indians surrendered to British in Indian War of Chief Pontiac. By 1763, the British had control of much of northeastern North America. Most of the Indians were displeased by their treatment from the British. The main concern of the Indians was the continued settlement of people along the western frontier, which in 1763, included Ohio. Chief Pontiac began organizing many Indian tribes together to rebel against the British. The Indians had success waging war on frontier settlements that were not well protected. The British had many small forts on the frontier that were easily overrun by the Indians. Many British soldiers were killed in the attacks. The Indians attacked Fort Detroit and Fort Pitt but were unsuccessful in capturing the forts. The Indians were counting on French support against the British in order to take these two forts. The French support never came. In 1766, Chief Pontiac signed a peace treaty at Oswego, New York. As one of the conditions of the treaty, Pontiac was considered not guilty of any wrong and was allowed to return home to his family who were living on the Maumee River. There were farther reaching consequences, however. This war worsened Britain’s financial health and resulted in the Proclamation of 1763, preventing colonial settlement farther to the West. This will be a grievance that leads into the American Independence movement.
    1776- Fort Washington on Manhattan Island fell to the British, who took about 2,000 prisoners. Colonial troops were on retreat and the war looked bleak as the weather.
    1776- The first salute to a U.S. Flag (Grand Union Ensign also known as the Continental Union flag) was a volley of 11 guns fired by Fort Orange on St. Eustatius, Dutch West Indies, Leeward Islands today, in 1776. The salute was in response to a volley fired from the "Andrea Doria" commanded by Isaih Robinson. It was saluted by Johannes de Graeff, governor of the colony. The brig was captained by Nicholas Biddle, who had been sent to St. Eustatius to transport arms and ammunition for the American Leasing Army. This was an important event as St. Eustatius was a very important trading center and a supply base for the colonies.
    1777- The second Continental Congress adopted the Articles of Confederation and Perpetual Union. Submitted to the states for ratification two days later. March 1, 1781 they were adopted. Although ultimately supplanted by the United States Constitution, the Articles of Confederation provided stability during the Revolutionary War years and attempted to define "states rights" and "federal authority."
http://memory.loc.gov/ammem/today/nov15.html
    1821- Missouri Indian trader William Becknell arrives in Santa Fe, New Mexico, sells his goods at an enormous profit, and makes plans to return the next year over the route that will become known as the Santa Fe Trail. Becknell's role in reopening the trail and laying out the shortcut earned him the title of "Father of the Santa Fe Trail." It became one of the most important and lucrative of the Old West trading routes; merchants and other travelers continued to follow the trail blazed by Becknell until the arrival of trains in the late 1870s.
    1864- General William T. Sherman march to the sea with 62,000 men began. Leaving Atlanta, GA., in flames, it was thought the fires were started by Sherman's troops, but historians state most of the major fires were started by Confederates fleeing the city, not wanting to supply the Union troops with food and supplies. Sherman was to seep across a 60-mile front with little serious opposition, his army destroying everything useful to the Confederates, who were doing the same to his army. The South was cut in two. General William J. Hardee and his remaining Confederate forces evacuated Savannah, GA. on December 21. Sherman occupied the city that day.
    1873- Birthday of William Christopher (W.C.) Handy, American composer, bandleader, "Father of the Blues," W.C. Handy was born at Florence, AL. He died at New York, NY, Mar 28,1958. If you can't have but one jazz CD in your collection, let me recommend Louis Armstrong Plays W.C.Handy.
http://www.amazon.com/exec/obidos/tg/stores/detail/-/music/B000002ADP/reviews/
107-7460879-4591723

http://www2.una.edu/library/handy/
    1889- The Oahu Railway and Land Company (OR&L) began operating on Hawaii's third largest island. The brainchild of Massachusetts native Benjamin Franklin Dillingham, the railroad made it possible to move agricultural products from inland to port, stimulating the local economy and providing a valuable transportation route for decades.
(Lower portion of: http://memory.loc.gov/ammem/today/nov16.html)
    1892- the University of Chicago won its first football victory. The preceding October 22, they played to a 0-0 tie with Northwestern in its first ever football game and this was their first win for Coach Amos Alonzo Stagg 10-4 against Illinois at Chicago. A founding member of the Big 10, Chicago eliminated its football program for many years, but now competes against the likes of New York University, Emory and Washington University at St. Louis. This Saturday it is the traditional rival game as football fans will switch from channel to channel in perhaps the most heated college game of the year.
    1899- Birthday of Mary Margaret McBride, who from 1934 to 1954 conducted a radio show of astonishing and human interest facts and in 1940 was voted the most popular woman in radio. She was one of the first big radio stars who tried to move to the new media of television where she was declared a big flop. It was the same night Milton Berle became the permanent host of "Texaco Star Theatre," and NBC showcased McBride in the timeslot right after Berle. Early TV's biggest success was a performer who'd never done well on radio--Milton Berle, a vaudevillian. His popularity on TV showed the uncertainty of predicting how radio stars would likely fare on television. "We all knew one thing that wouldn't work," recalled George Burns, also a vaudevillian, about moving from radio to TV: "standing in front of a microphone and reading from a script. Unfortunately, that's what we were best at." She died in 1976.
    1902- A cartoon appeared in the Washington Star, prompting the Teddy Bear Craze, after President Teddy Roosevelt refused to kill a captive bear tied up for him to shoot during a hunting trip to Mississippi.
    1907- Oklahoma became the 46 th state. The word, Oklahoma, is a combination of two Choctaw words meaning red people. Then, why Sooner? Many, many Oklahoma homesteaders thought sooner was better than later, better to stake their homesteads first, before it was legal to do so.
http://memory.loc.gov/ammem/today/nov16.html
    1914- The Federal Reserve banks were formally opened. The Federal Reserve Act, approved on December 23, 19113, was an " act to provide for the establishment of Federal Reserve Banks, to furnish an elastic currency...to establish a more effective supervision of banking in the United States. " The 12 regional district banks were under the supervision of a seven-member Board of Governors.
    1918- In NY City, the United Lutheran Church was organized by a merger of three general Lutheran bodies in the U.S. and Canada. (In 1962, the ULC became one of the branches of Lutheranism which formed the Lutheran Church in America.)
    1920- The postage meter was officially set at Stamford, CT, by the Pitney-Bowes Postage Meter Company. Although the idea of metered mail originated in 1900, when the American Postage Meter Company was organized in Chicago, it was not until September 1, 1920, that the Post Office Department approved it. About $2 million was spent on research and development of the machine. Today they have a near monopoly on this device. You cannot purchase the meter, you must "rent" it.
    1931- Singer Bob Gibson birthday, born New York City died September 27, 1996, Portland, Oregon
http://www.mp3.com/Bob-Gibson/artists/1656/biography.html
http://www.musicweb.uk.net/encyclopaedia/g/G33.HTM
http://www.provide.net/~cfh/gibson.html
    1937- Bob Crosby records " South Rampart St. Parade," LA, Decca 15038
1945, Woody Herman waxes "Wildroot," Columbia 36949.
1940, Cornell University played Dartmouth College in football and came away with a victory. But the winning touchdown was cored on a fifth-down play, given to Cornell by referee's error. After the game, Cornell did the honorable thing, surrendering the triumph.
    1944- LINDSEY, JAKE W. Medal of Honor
Rank and organization: Technical Sergeant, U.S. Army, 16th Infantry, 1st Infantry Division. Place and date: Near Hamich, Germany, 16 November 1944. Entered service at: Lucedale, Miss. Birth: Isney, Ala. G.O. No.: 43, 30 May 1945. Citation: For gallantry and intrepidity at the risk of his life above and beyond the call of duty on 16 November 1944, in Germany. T/Sgt. Lindsey assumed a position about 10 yards to the front of his platoon during an intense enemy infantry-tank counterattack, and by his unerringly accurate fire destroyed 2 enemy machinegun nests, forced the withdrawal of 2 tanks, and effectively halted enemy flanking patrols. Later, although painfully wounded, he engaged 8 Germans, who were reestablishing machinegun positions, in hand-to-hand combat, killing 3, capturing 3, and causing the other 2 to flee. By his gallantry, T/Sgt. Lindsey secured his unit's position, and reflected great credit upon himself and the U.S. Army.
    1944- MILLER, ANDREW   Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company G, 377th Infantry, 95th Infantry Division. Place and date: From Woippy, France, through Metz to Kerprich Hemmersdorf, Germany, 1629 November 1944. Entered service at: Two Rivers, Wis. Birth: Manitowoc, Wis. G.O. No.: 74, 1 September 1945. Citation: For performing a series of heroic deeds from 1629 November 1944, during his company's relentless drive from Woippy, France, through Metz to Kerprich Hemmersdorf, Germany. As he led a rifle squad on 16 November at Woippy, crossfire from enemy machineguns pinned down his unit. Ordering his men to remain under cover, he went forward alone, entered a building housing 1 of the guns and forced S Germans to surrender at bayonet point. He then took the second gun single-handedly by hurling grenades into the enemy position, killing 2, wounding 3 more, and taking 2 additional prisoners. At the outskirts of Metz the next day, when his platoon, confused by heavy explosions and the withdrawal of friendly tanks, retired, he fearlessly remained behind armed with an automatic rifle and exchanged bursts with a German machinegun until he silenced the enemy weapon. His quick action in covering his comrades gave the platoon time to regroup and carry on the fight. On 19 November S/Sgt. Miller led an attack on large enemy barracks. Covered by his squad, he crawled to a barracks window, climbed in, and captured 6 riflemen occupying the room. His men, and then the entire company, followed through the window, scoured the building, and took 75 prisoners. S/Sgt. Miller volunteered, with 3 comrades, to capture Gestapo officers who were preventing the surrender of German troops in another building. He ran a gauntlet of machinegun fire and was lifted through a window. Inside, he found himself covered by a machine pistol, but he persuaded the 4 Gestapo agents confronting him to surrender. Early the next morning, when strong hostile forces punished his company with heavy fire, S/Sgt. Miller assumed the task of destroying a well-placed machinegun. He was knocked down by a rifle grenade as he climbed an open stairway in a house, but pressed on with a bazooka to find an advantageous spot from which to launch his rocket. He discovered that he could fire only from the roof, a position where he would draw tremendous enemy fire. Facing the risk, he moved into the open, coolly took aim, and scored a direct hit on the hostile emplacement, wreaking such havoc that the enemy troops became completely demoralized and began surrendering by the score. The following day, in Metz, he captured 12 more prisoners and silenced an enemy machinegun after volunteering for a hazardous mission in advance of his company's position. On 29 November, as Company G climbed a hill overlooking Kerprich Hemmersdorf, enemy fire pinned the unit to the ground. S/Sgt. Miller, on his own initiative, pressed ahead with his squad past the company's leading element to meet the surprise resistance. His men stood up and advanced deliberately, firing as they went. Inspired by S/Sgt. Miller's leadership, the platoon followed, and then another platoon arose and grimly closed with the Germans. The enemy action was smothered, but at the cost of S/Sgt. Miller's life. His tenacious devotion to the attack, his gallant choice to expose himself to enemy action rather than endanger his men, his limitless bravery, assured the success of Company G.
    1945- Eighty-eight German scientists, holding Nazi secrets, arrived in the U.S. In a move that stirs up some controversy, the United States ships 88 German scientists to America to assist the nation in its production of rocket technology. Most of these men had served under the Nazi regime and critics in the United States questioned the morality of placing them in the service of America.
    The situation pointed out one of the many ironies connected with the Cold War. The United States and the Soviet Union, once allies against Germany and the Nazi regime during World War II, were now in a fierce contest to acquire the best and brightest scientists who had helped arm the German forces in order to construct weapons systems to threaten each other.
    1947---Top Hits
I Wish I Didn't Love You So - Vaughn Monroe
Near You - The Francis Craig Orchestra (vocal: Bob Lamm)
You Do - Dinah Shore
I'll Hold You in My Heart (Till I Can Hold You in My Arms) - Eddy Arnold
    1952- "Our Goodly Heritage" debuted over CBS television. This Sunday morning Bible study program, hosted by William Rush Baer of New York University, aired a little over five years.
    1952- Birthday of Glenn Burke, baseball player born at Oakland, CA. Burke spent four seasons in the majors (1976-79) with the Los Angeles Dodges and the Oakland Athletics. He was the first former baseball player the cause of whose death was acknowledged as AIDS. Died at San Leandro, CA, May 30, 1995.
    1952- John Clellon Holmes article, "This is the Beat Generation", appears in NY Times Magazine. His novel, Go, often call the first published "Beat" novel, which presented characters based on Kerouac, Ginsberg and Neal Cassady in 1952, five years before Kerouac would turn the same cast of characters into legends with ' On The Road.' also appears this fall. Also during this month, Jack Kerouac works as student brakeman for railroad in California & his Book of Dreams project is begun here in Los Gatos, Ca. (He and Cassady would die deaths related to alcoholism.)
http://www.litkicks.com/BeatPages/page.jsp?what=NealCassady
    1955---Top Hits
Sixteen Tons - Tennessee Ernie Ford
Autumn Leaves - Roger Williams
Only You - The Platters
Love, Love, Love - Webb Pierce
    1955- 'Tennessee' Ernie Ford drove to the top spot on the record charts on this day. Sixteen Tons, where he owed his "soul to the company store..." became the fastest-selling record in history, jumping to #1 in just 3 weeks. The tune, on Capitol Records, stayed at #1 for eight weeks.
    1956- Elvis Presley's film debut, "Love Me Tender," opens in New York. Despite critical reaction, it takes in nearly $4 million in just two months.
    1958- Golfers enjoying an autumn day got a surprise when over six inches of snow fell on Tucson, Arizona.
    1959- The Rodgers and Hammerstein musical ``The Sound of Music'' opened on Broadway, originally staring Theodore Bikel and Mary Martin. The show played 1,443 performances (the second longest running musical at that time.) In 1965, it was released as a movie starring Julie Andrews and Christopher Plummer. It is based on an original true story from the book, first made into a German film, very popular in Europe. Maria von Trapp's book, The Story of the Trapp Family Singers was published in 1949 and shortly after Hollywood approached Maria with an offer to buy the book title. They wanted to buy the title but create their own story. Maria refused to sell the title without the whole story and produced the film herself in Germany.
http://www.trappfamily.com/story
http://www.prigsbee.com/Musicals/shows/soundofmusic.htm
http://www.amazon.com/exec/obidos/ASIN/B00000AG6Y/103-0205572-2897419
http://www.amazon.com/exec/obidos/ASIN/B00000AG6Y/103-0205572-2897419
    1959- Beat author Jack Kerouac appears on the Steve Allen Show in Hollywood. After the show he has dinner with sex kitten Mamie Van Doren.
    1959- The most severe November cold wave in U.S. history was in progress. A weather observing station located 14 miles northeast of Lincoln MT reported a reading of 53 degrees below zero, which established an all-time record low temperature for the nation for the month of November. Their high that day was one degree above zero.
    1959- "Mr. Blue" by the Fleetwoods topped the charts and stayed there for a week.
    1959- The Patriots become the AFL's eighth and final franchise under the ownership of William H. Sullivan, Jr.
    1961- President John F. Kennedy decides to increase military aid to South Vietnam without committing U.S. combat troops. Kennedy was concerned at the advances being made by the communist Viet Cong, but did not want to become involved in a land war in Vietnam. He hoped that the military aid would be sufficient to strengthen the Saigon government and its armed forces against the Viet Cong. Ultimately it was not, and Kennedy ended up sending additional support in the form of U.S. military advisors and American helicopter units. By the time of his assassination in 1963, there were 16,000 U.S. soldiers in South Vietnam.
    1962- Wilt Chamberlain of NBA San Francisco Warriors scores 73 points vs. NY
    1963---Top Hits
Deep Purple - Nino Tempo & April Stevens
Washington Square - The Village Stompers
I'm Leaving It Up to You - Dale & Grace
Love's Gonna Live Here - Buck Owens
    1963- "Deep Purple" by Nino Tempo & April Stevens topped the charts and stayed there for a week.
    1965- First public announcement about Walt Disney World.
    1966- Dr Sam Sheppard freed after 9 years in jail, by a jury. His story is the basis of several television series and movie, "The Fugitive."
    1968- B.J. Thomas' "Hooked on a Feeling" is released.
    1969- News reports charged a U.S. infantry unit with massacre at My Lai 4, a village in the Song my district in South Vietnam , on March 16, 1968. More than 450 villagers including many women and babies were said to have been slain. Pending an investigation, Lt. William L. Calley, Jr. in charge of the U.S. unit at the time, was kept on active duty beyond his official tour. He later would receive several months in jail in one of the many military cover-ups about the war in Viet Nam.
    1971---Top Hits
Gypsys, Tramps & Thieves - Cher
Theme from Shaft - Isaac Hayes
Imagine - John Lennon Plastic Ono Band
Lead Me On - Conway Twitty & Loretta Lynn
    1972- A coastal storm gave New England a lashing. Heavy, wet snow in parts of New Hampshire and Vermont downing power and utility lines while heavy rains in southern New England producing some flooding
    1973- 30th manned US space flight launched with three astronauts, G.P. Carr, W.R. Page and E.G. -*Gibson who spent 84 days on the space station. Space walks totaled 22 hours. Returned to Earth on Feb 8, 1974.
    1973- President Nixon authorizes construction of the Alaskan pipeline.
    1974- "Whatever Gets You Thru the Night" by John Lennon with the Plastic Ono Nuclear Band topped the charts and stayed there for a week.
    1974- NBC-TV began a two-night showing of the award-winning film, "The Godfather", starring Marlon Brando. The film was the highest price paid for a shown on television movie when NBC paid Paramount Pictures $10 million to show it.
    1974- John Lennon enjoys his first Number One hit with "Whatever Gets You thru the Night." Helping out on piano and vocals is Elton John.
    1974- Stevie Wonder's "Boogie on Reggae Woman" is released.
    1975- Chicago Bear Walter Payton rushed for 105 yards in a game against the San Francisco 49ers, for his first game of 100 plus yards. He would reach this feat over 50 times throughout his career, adding two 200-yard games, as well.
    1977- The Canadian trio Rush receive three gold records for "2112," "All the World's a Stage" and "A Farewell to Kings." The group, which started out as a Led Zeppelin-inspired power trio, opted for a more experimental progressive direction on those LPs and found itself a sizable audience.
    1979---Top Hits
Heartache Tonight - Eagles
Dim All the Lights - Donna Summer
Still - Commodores
You Decorated My Life - Kenny Rogers
    1983- Oriole Cal Ripken is named the American League's MVP becoming the first player to win the Rookie of the Year and Most Valuable Player Award in consecutive years.
    1984- Dr. Anna L. Fisher was the first astronaut who was a mother. She was a member of the crew of Space Shuttle "Discovery" mission that lifted off Cape Canaveral, FL. She participated in the world's first satellite retrieval and repair operation.
    1985- "We Built This City" by Starship topped the charts and stayed there for 2 weeks.
    1987---Top Hits
I Think We're Alone Now - Tiffany
Mony Mony "Live" - Billy Idol
(I've Had) The Time of My Life - Bill Medley & Jennifer Warnes
Maybe Your Baby's Got the Blues - The Judds
    1987- High winds and heavy snow created blizzard conditions across parts of eastern Colorado. Wind gusts reached 68 mph at Pueblo, and snowfall totals ranged up to 37 inches at Echo Lake. In Wyoming, the temperature dipped to 14 degrees below zero at Laramie. Strong thunderstorms in Louisiana drenched Alexandria with 16.65 inches of rain in thirty hours, with an unofficial total of 21.21 inches north of Olla. Flash flooding in Louisiana caused five to six million dollars damage.
    1989- Severe thunderstorms produced 22 tornadoes from Virginia to New York. Winds gusted to 80 mph caused a wall at the Coldenham School in Newburgh, NY to collapse, killing 9 children Snow and gusty winds invaded the north central U.S. Winds gusting to 40 mph produced wind chill readings as cold as 25 degrees below zero, and blizzard conditions were reported in Nebraska during the late morning hours. High winds around a powerful low pressure system produced squalls in the Great Lakes Region. Winds gusted to 63 mph at Whitefish Point MI, and snowfall totals in Michigan ranged up to 19 inches at Hart, north of Muskegon
    1992- For the first time since 1563, the Roman Catholic Church issued a new universal catechism, which addressed modern-day issues.
    1994- Bernette Johnson was sworn in as the first black woman ever elected to the Louisiana Supreme Court.
    1994---Top Hits
I ll Make Love To You- Boyz II Men
Here Comes The Hotstepper (From "Ready To Wear")- Ini Kamoze
All I Wanna Do- Sheryl Crow
Another Night- Real McCoy
    1996- "Head Over Feet" by Alanis Morissette topped the charts and stayed there for 4 weeks.
    1999---Top Hits
Smooth- Santana Featuring Rob Thomas
Back At One- Brian McKnight
Mambo No. 5 (A Little Bit Of...)- Lou Bega
I Need To Know- Marc Anthony
    2001- Yankee right hander Roger Clemens (20-3, 3.51 ERA) wins the Cy Young Award for an unprecedented sixth time (Red Sox -1986, '87, '91 and Blue Jays -1997, '98). The 'Rocket' becomes the first Pinstripper to win the award since 1978 when Ron Guidry copped the honor.
    2003---Top Hits
Baby Boy- Beyonce Featuring Sean Paul
Stand Up- Ludacris Featuring Shawnna
Holidae In- Chingy Featuring Ludacris & Snoop Dogg
Damn!- YoungBloodZ Featuring Lil Jon
    2005- Severe thunderstorms produced over 30 tornadoes in 6 states, resulting in one fatality and at least 35 injuries (Associated Press). Some of the worst damage occurred in Henry County, Tennessee, where numerous homes and businesses were damaged or destroyed.

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Football Poem

Nick Ferguson: The Poet Has Found a Home

By Doug Collins

DenverBroncos.com

The poet has found himself
And now finally knows peace
For where once the soul of a traveler lived
There exists a spirit at ease
One mile above the ocean
In the land where the Broncos roam
The poet can finally rest
For, at last, he has found a home.

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