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Tuesday, April 15, 2003
Headlines---
Pictures from the Past---1994-Tom Quilling
Classified
Ads---Sales---"Don't Give Up!"
ELA
Captive and Vendor Leasing Conference
-Fred
St. Laurent
Cartoon---Mr.
Merrilees at the IRS
Up-grade
"Free Trial Version" Expires Today
Deloitte:
FI to Move $356B of IT Offshore
Experian/PredictiveMetrics
Small Biz Lease Score
Merrill
Goes After GE with LEAF Now
Globaltech/American
Lease Insurance
Comdisco Final Redemption
Secured Notes
Decisions Systems Rapport 3.2 Credit
App./Contract Origination Software
GATX
Tech James Diskin/Garry Foster New Reg. Sales Managers
This Border #####
Denotes Press Release (Not Written By Leasing News)
--------------------------------------------------------------------------------------------
Pictures from the Past---1994—Tom Quilling
http://two.leasingnews.org/imanges_uael_wael/quilling,tom.jpg
"I worked for Decision Systems, Inc. for 18 years. I
retired from this company at the end of 2001. My responsibility at DSI
was selling the InfoLease and InfoAnalysis software solutions to the equipment
leasing industry.
“In January of 2002, I joined John Otto at Heritage Pacific
Leasing and opened a branch office in Minneapolis.”
tquilling@heritage-pacific.com
----------------------------------------------------------------------------
Classified Ads---Sales---“Don’t Give Up!”
Sales: Atlanta, GA. Extensive experience, knowledge
and success in the leasing industry covering several markets. Currently
have a profitable book of business. Excellent sales skills and 19BII proficiency.
email: flowageman@aol.com
Sales: Atlanta, GA. Consistent top performer, results
oriented with outstanding sourcing, structuring and negotiation skills.
Direct& vendor development sales. Mid-market and above - Customers
throughout Southeast. email:w.t.dent@comcast.net
Sales:Austin,Texas 24yrs exp.in equip leasing sales,
vendor/direct, leasing high-tech to rolling stock. HP12C/17B. Small-Mid
Ticket. Seeking Texas territory which can be covered from Austin home-base.
email:GeorgeMinchew@sbcglobal.net
Sales: Dallas, TX
Director, Business Development for international financial
institutions. Global vendor programs with minimum sustainable volume of
$24M annually. CFO and Treasury contacts with major technology and energy
corporations.Email:tkorpolinski@ev1.net
Sales: Detroit, MI. 16-year lease veteran looking
for opportunity in the Detroit area. Ability to bring on new accounts
and manage existing base. Up to 60% travel acceptable. email:ebonbri@aol.com
Sales: Houston, TX. Experienced 20 years vendor development,direct
sales and marketing with great presentation and closing skills. email:
rwm217@yahoo.com
Sales: Louisville, KY I have been in leasing/financing
of construction, machine tool, and mfg equipment for 20+ years. Traveled
KY, IN, OH and TN.
Email:kyle90@msn.com
Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience
looking for company to bring existing customer base.
Email:makelly21@hotmail.com
Sales: Orange County, CA.
Skilled deal-closer at above-average rates. Entrepreneurial.
Accomplished lease-structurer specializing in transportation. Exp. in
direct/ captive & syndicator environments servicing vendors, brokers,
& end-users. email:originator@sbcglobal.net
Sales: Orange County, CA. 20 yrs. in leasing. Skilled,persistant
marketing rep. Great closer on deals from $100K to $5MM. Looking for middle
market company.
email: pauldriscoll1@lycos.com
Sales: Philadelphia , PA Seeking an open opportunity
to advance in the automotive, commercial leasing & finance industry.........
email: alexe362002@yahoo.com
Sales: Prairie Village, KS Have substantial deal flow
and database of broker referral sources. Generated and closed over $22M
LY. Seeking exclusive relationship w/direct founder. email:fiergl@aol.com
Sales: St Lucie, FL
Sales, credit, doc. exp.w/top communications skills. Exp.
large territory management from home office. Various industries; golf
equipment, construction, ff&e, computer related, and others. Sales
achiever. Email:David34983@aol.com
Sales: San Francisco Bay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only.
Transaction size from $500M to $10.0MM. Client base: printing, food, retail,
hvy manufacturing. Email:edm173@sbcglobal.net
Sales:Scottsdale, AZ.
19+ years in middle-market-leasing. Concentrations in Medical/Manufacturing/IT&
General in multiple geographic territories. Well versed in direct calling&
closing efforts to C- Level& subordinate management. email:bill_peter@msn.com
Sales: Tampa, FL. 27 years experience. Very adept
in bank lease programs and direct sales in MM/LT. Looking to re-enter
the industry. Will relocate to Texas. Hungry. email: cwilliams@triit.com
70 ads at:
http://65.209.205.32/LeasingNews/JobPostings.htm
We help people find
jobs!!!! Don’t Give Up!
---free posting----
http://65.209.205.32/LeasingNews/PostingForm.asp
_________________________________________________________
ELA Captive and Vendor Leasing Conference -Fred St. Laurent
“ I am actually at the ELA Captive and Vendor Leasing conference
in St Augustine Florida. It was a last minute invitation and I accepted
a job with Ben Sillins on the way
down.
“ I am writing something for you tonight and will
email it to you in the morning. The conference was a huge success. Best
attendance ever (130) and everyone I
spoke with told me that not only was this conference fun,
but packed full of information;
all had a great time. ELA really knows how to put these conferences together.
.
“ About my job change:
“My non compete with
MRI Melbourne expired last month. I have honored the letter of my agreement
and now my intention has been to return to the leasing
clients I was servicing.
Bradbury and Williamson had no desire to head in that direction. In joining
Ben Sillins, the Blass Group, and MRI company again, I join
3 other leasing desks
and become a part of an effective team. I am very excited about it.”
Fred St. Laurent
--------------------------------------------------------------------------------------------
Cartoon---Mr. Merrilees at the IRS
http://two.leasingnews.org/cartoons/IRS1.jpg
__________________________________________________
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The first “wave” of those who tried the 45 “free trial” expires
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Click on the headlines to go to the stories or the tool bar
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--------------------------------------------------------------------------------------------
T-Bill Rates Rise
WASHINGTON (AP) The auction yesterday on interest rates on
short-term Treasury securities rose with the three-month bill the highest
since March 3, when the bills sold for 1.175 percent
The Treasury Department sold $15 billion in three-month bills
at a discount rate of 1.165 percent, up from 1.135 percent last week.
An additional $15 billion was sold in six-month bills at a rate of 1.175
percent, up from 1.135 percent.
The six-month rate was the highest since Feb. 18, when the
bills sold for 1.180 percent.
The new discount rates understate the actual return to investors
1.186 percent for three-month bills with a $10,000 bill selling for $9,970.60
and 1.202 percent for a six-month bill selling for $9,940.60.
In a separate report, the Federal Reserve stated the average
yield for one-year constant maturity Treasury bills, the most popular
index for making changes in adjustable rate mortgages, rose to 1.25 percent
last week from 1.19 percent the previous week.
--------------------------------------------------------------------------------------------
Deloitte Predicts Financial Institutions to Move $356 Billion of IT Offshore
Bank Bulletin Report
In a new study of the world's 100 largest financial institutions,
Deloitte Research estimates that over the next five years financial institutions
will move roughly $356 billion of their operations and nearly two million
employees offshore as they continue to seek ways to reduce costs.
By sending work to low-cost IT centers in countries like
India (who Deloitte estimates is the nation expected to benefit most from
the off-shore
outsourcing) the research company estimates that financial
institutions can reduce costs by as much as $1.4 billion each by 2008.
The shift to offshore operations is currently underway, according to the
report, with 30 percent of the participants reporting an existing offshore
outsourcing relationship. That figure is expected to reach 75 percent
in the next two years.
This does not include telephone collection, customer service,
or solicitation calls
being moved to “English speaking” regions such as found in
India, the Philippines,
#### Press Release ##########################################
Experian and PredictiveMetrics Introduce Small Business
Lease Decision Score
New Score Helps Commercial Leasing Companies Determine
Creditworthiness
of Small-Business Prospects
COSTA MESA, Calif.,-- Experian(R), a global business solutions
company, and PredictiveMetrics, a leading business-to- business statistical
model development company, today announced the launch of the Small Business
Lease Decision Score. This innovative
product helps commercial leasing company executives more precisely determine
the creditworthiness of their small-business prospects by calculating
blended risk scores based on both the credit history of a business and
the consumer credit files of up to two of the business's owners.
The Small Business Lease Decision Score helps users predict
the likelihood of an applicant incurring 90+ days delinquency or charge-offs
within 18 to 24 months of underwriting when the potential risk may be
the greatest. Greater accuracy is assured because this new decision tool
was developed using actual leasing performance on small-ticket leasing
transactions predominantly under $100,000, combined with Experian's commercial
and consumer credit databases containing a number of proven predictors
of future risk. The new tool is also ideal for scoring smaller
businesses that may not have sufficient commercial data. Scores are provided on easy-to-read, single-page
reports, which are accessible through the Internet, CPU or batch processing.
"In today's turbulent economic times, lessors must see
the whole picture of a company's financial health in order to make more
informed decisions," said Roger Lisabeth, vice president and general
manager of Experian's Business Information Solutions credit services group.
"This new score is both powerful and convenient.
It offers access to multiple files, adding more precision to the
score, and it is available with a single inquiry to Experian."
Lisabeth said that commercial lessors using the Small Business
Lease Decision Score will improve the credit quality of their portfolios
based on their own needs, market strategy and risk tolerance level by
making more informed decisions during the lease origination process and
when conducting account management reviews.
The new score joins a suite of scoring tools, including Commercial
Lease Decision Score, which enables commercial leasing companies to determine
the acceptable decision criteria and customize the decision based on their
own needs, market strategy and risk tolerance level.
"This versatile score offers lessors the beneficial
capability to score across the customer life cycle, from targeting and
acquiring new business, through managing portfolios for maximum profitability,"
said Michael Banasiak, president of PredictiveMetrics.
About Experian
Experian(R) provides strategic support to organizations around
the world. It helps its clients target, acquire, manage and develop profitable
customer relationships. It does
this by combining its advanced decision support and outsourcing services
with information on consumers, businesses, motor vehicles and property. Experian works with more than 40,000 clients
across diverse industries, including financial services, telecommunications,
health care, insurance, retail and catalog, automotive, manufacturing,
leisure, utilities, property, e-commerce and government. Millions of consumers rely on Experian's consumer credit services
to meet their financial management needs.
Experian is a subsidiary of GUS plc and has headquarters in Nottingham,
UK, and Costa Mesa, Calif. It has a 175-year history and unbroken sales
growth over the past 22 years. Its 13,000 people support clients in more
than 60 countries. Annual sales
exceed $1.5 billion.
For more information, visit the company's Web site at www.experian.com
.
About PredictiveMetrics
PredictiveMetrics, which was formally known as Predictive
Business Decision Systems, Inc. (PBDS) continuously helps its customers
increase their profit margins by providing custom and industry specific
credit, portfolio management, collection and recovery knowledge-based
decision tools. Leveraging advanced methodologies and statistics to application,
accounts receivable, and collection data, as well as credit bureau, financial
statement, and marketing data allows companies to turn probabilities into
profits. Armed with an analytical staff comprised of
statisticians and econometricians who have extensive experience in developing
predictive scoring solutions for a variety of applications, products,
types of financing, and industries allied with your business experience,
PredictiveMetrics provides the most accurate and predictive decision tools
in the market today! Established in 1995, PredictiveMetrics is headquartered
in Tinton Falls, NJ.
For more information, visit the company's Web site at www.predictivemetrics.com
.
For further information please contact: Susan Henson, Public
Relations, Experian, +1-714-830-5129, susan.henson@experian.com
#### Press Release ##########################################
Resource America's LEAF Financial Corporation Enters into
a Multi-Year Agreement with Merrill Lynch
PHILADELPHIA----Resource America Inc. (NASDAQ:REXI) announces
that LEAF Financial Corp., a wholly-owned subsidiary, has entered into
an agreement whereby LEAF will originate as well as service leases relating
to a diversified portfolio of business essential equipment on behalf of
Merrill Lynch.
The leases will be sourced through LEAF's direct and indirect
sales platform focused on vendors and manufacturers of the equipment.
This flow agreement has a multi-year term and the ability to be extended.
Crit DeMent, Chairman of LEAF, notes that "this alliance
with Merrill Lynch enables LEAF to focus our resources on establishing
high quality, high volume vendor programs. By teaming up with this first
class institution we also will be able to offer a broader spectrum of
lease products."
"This program with LEAF Financial Corp. further enhances
our origination capabilities and our overall asset backed securitization
presence in the equipment leasing sector", comments Michael Blum,
Managing Director and Head of Merrill Lynch's Global Asset Based Finance
Group. "By combining LEAF management's 18 years of experience in
originating and underwriting high quality, small ticket equipment leases
with the secured financing, principal investment and asset backed securitization
capabilities provided by our structured finance platform, we create efficient
access to capital for a broad base of business customers."
Resource America Inc. is a proprietary asset management company
that uses industry specific expertise to generate and administer investment
opportunities for its own account and for outside investors in energy,
real estate and financial services. LEAF currently originates and manages
leases on behalf of several public investment limited partnerships.
Statements made in this release may include forward-looking
statements, which involve substantial risks and uncertainties. The Company's
actual results, performance or achievements could differ materially from
those expressed or implied in this release.
CONTACT:
Resource America, Inc., Philadelphia
Pamela Schreiber, 215/546-5005
facsimile: 215/546-5388
###### Press Release #####################################
GLOBALTECH PORTFOLIO SERVICES ANNOUNCES STRATEGIC PARTNERSHIP
WITH AMERICAN LEASE INSURANCE.
ATLANTA, GA - Small-ticket lessors whose portfolios are serviced
by
GlobalTech Portfolio Services (GlobalTech) now benefit from
a fully
automated insurance program provided by American Lease Insurance
(ALI).
Says Alan Zeppenfeld, GlobalTech vice president, "The
American Lease
Insurance program is an excellent complement to the services
we already
provide. Now, lessors can rely on us for total portfolio
services -
including insurance coverage and tracking - and know that
they are getting
the highest quality and greatest value."
Under experienced management, GlobalTech employs the latest
technology to
provide loan and lease servicing, including origination,
document
preparation, funding, asset tracking and administration,
invoicing, payment
processing, and customer service.
The ALI program,
integrated with McCue Systems' LeasePak software
utilized by GlobalTech, provides comprehensive property and
liability coverage on portfolios of equipment costing under $250,000,
and tracks insurance coverage during the terms of the leases for lessees
who choose to use their own insurance.
The program requires no premium advances from lessors. By
providing lessees
real value - superior protection and faster replacement at
lower premiums,
ALI has achieved the highest acceptance rates in the industry.
This success
translates into higher fee income for lessors. Sums up Zeppenfeld,
"They
are the best in the business, which is why we choose to offer
American
Lease Insurance to our customers."
American Lease Insurance was founded in 2000 by Steve Dinkelaker,
a
licensed insurance agent and broker who has been active in
the equipment
leasing industry since the mid 1980s. He created, implemented,
and managed
lease insurance programs for almost all of the major small-ticket
leasing
companies. ALI, located in Shelburne Falls, Massachusetts,
one hour north
of Hartford, Connecticut, is a member of the Equipment Leasing
Association,
the Eastern Association of Equipment Lessors, the United
Association of
Equipment Leasing, and the National Association of Equipment
Leasing
Brokers.
GlobalTech Portfolio Services is a division of GlobalTech
Financial, which
was established in 2000 by Carolyn Byrd, a 23-year veteran
of the Coca-Cola
Company. GlobalTech Financial is the exclusive processor
of business loans
and leases granted by the Coca-Cola Financial Corporation,
as well as other
financial institutions, credit corporations and private label
financing
programs. GlobalTech Portfolio Services currently services
over $1 billion
in assets.
-
ALAN ZEPPENFELD 678-816-2216
STEVE DINKELAKER 888-521-6568 x 245
#### Press Release ###########################################
Comdisco to Make Final Redemption on Its 11% Subordinated
Secured Notes
ROSEMONT, Ill.----Comdisco Holding Company, Inc. (OTC:CDCO)
announced today the final redemption on its 11% Subordinated Secured Notes
due 2005. As of today, the total outstanding principal amount of the Subordinated
Secured Notes is $85 million. Comdisco previously redeemed $65 million,
$200 million, $100 million, $50 million, $75 million and $75 million principal
amounts of the 11% Subordinated Secured Notes on November 14, 2002, December
23, 2002, January 9, 2003, February 10, 2003, March 3, 2003 and April
2, 2003, respectively.
The remaining $85 million principal amount of Subordinated
Secured Notes will be redeemed at a price equal to 100% of their principal
amount plus accrued and unpaid interest to the redemption date. The redemption
will occur on April 28, 2003.
Wells Fargo Bank will serve as the paying agent for this
redemption. A notice of the redemption containing information required
by the terms of the indenture governing the Subordinated Secured Notes
will be mailed to holders. This notice will contain details of the place
and manner of surrender in order for holders to receive the redemption
payment.
About Comdisco
The purpose of reorganized Comdisco is to sell, collect or
otherwise reduce to money the remaining assets of the corporation in an
orderly manner. Rosemont, IL-based Comdisco (www.comdisco.com) provided
equipment leasing and technology services to help its customers maximize
technology functionality and predictability, while freeing them from the
complexity of managing their technology. Through its former Ventures division,
Comdisco provided equipment leasing and other financing and services to
venture capital backed companies.
CONTACT:
Comdisco
Mary Moster, 847/518-5147
or
Paying Agent:
Wells Fargo Bank, 800/344-5128
SOURCE: Comdisco
### Press Release #############################################
International Decisions Systems Introduces Rapport 3.2
Credit Application/Contract Origination Software
MINNEAPOLIS, Minn., USA, International Decision Systems
Inc. (IDS) announced today the availability of Rapport 3.2,
the latest
upgrade of IDS¹ automated credit application and contract
origination
software that is accessible to anyone around the world via
a Web browser.
Rapport allows lessors to streamline their front-end credit
decisioning-through-booking processes by using customizable
screens and
workflows. Rapport also seamlessly integrates data into InfoLease,
the
world¹s premier lease portfolio and asset management system.
Information is
entered once, with seamless integration into other systems
eliminating
redundant data entry and providing an integrated platform
for application,
pricing, credit, documentation and vendor/partner management.
Rapport 3.2 Highlights
* Upfront Cash Allows lessors to apply cash to an application
before
contract booking.
* Document Attachments Allows users to affix documents,
such as Word or
Excel files, to applications. Examples include tax statements,
credit
documents or letters from banks with liens on prospective
customers.
* Equipment-Based Pricing Provides for set up of equipment-specific
rate
structures. This allows lessors to calculate online payment
quotes, then use
those figures to submit from within their credit application.
* Flexible Worklists Lets users customize Web screens that
correspond to
their own optimal workflow processes.
³Rapport is for lessors who require a high degree of flexibility
and
workflow automation in their businesses,² summarizes IDS
Vice President of
Sales and Marketing John Hillman. ³It streamlines their front-end
processes;
and provides exceptional workflow and worklist functionality,
reporting and
document generation capabilities. The bottom line, Rapport
enhances the
competitive position of every lessor who adopts it.²
For more information about Rapport 3.2 or to schedule a demonstration,
call
IDS Marketing Director Deb Marshall at 612-851-3438.
About International Decision Systems
International Decision Systems (IDS) is the global leader
in developing
lease/loan accounting and portfolio management software and
services. With
offices in the United Kingdom; Minneapolis, MN; Sydney, Australia
and
Singapore, IDS offers the largest and most experienced global
consulting,
implementation and technical support teams in the leasing
industry.
InfoLease, the world¹s premier lease/loan portfolio and asset
management
system, comprises the foundation of IDS¹ product line. With
a web-enabled
front-end and more than 70 custom add-on solutions, InfoLease
is the most
adaptable and scalable lease/loan technology available in
today¹s
marketplace.
IDS¹ parent company, IDS Group plc, is publicly traded on
the London Stock
Exchange (IDGL). For additional information about International
Decision
Systems and IDS Group plc, visit www.idsgrp.com <http://www.idsgrp.com/>
.
IDS and InfoLease are registered trademarks of International
Decision
Systems.
### Press Release ##############################################
GATX TECHNOLOGY APPOINTS JAMES DISKIN AND GARRY FOSTER AS
REGIONAL SALES MANAGERS IN WESTERN REGION
TAMPA, - GATX Technology recently announced the appointment
of Mr. James J. Diskin as Regional Sales Manager for Illinois and Mr.
Garry Q. Foster as Regional Sales Manager for Arkansas, Louisiana and
Texas. With these appointments, GATX Technology continues its initiative
to expand its national coverage by strategically placing seasoned professionals
in key markets throughout the Midwest and Southwest.
Mr. Diskin and Mr. Foster will be working closely with mid-to
large-size corporations to develop cost effective solutions for managing
their technology assets.
GATX Technology Managing Director of Sales Paul J. Haire
said, “The addition of Jim Diskin and Garry Foster in these markets further
demonstrates our commitment to be the leading independent IT lessor in
North America, providing value-added lease financing and full lifecycle
management services.”
Mr. Diskin has over ten years of IT leasing and sales experience
and most recently was a Communications Portfolio Manager for Comdisco
Inc. Mr. Foster, who was previously a District Sales Manager for Forsythe
Solutions in Dallas, has more than ten years of IT leasing and sales experience.
COMPANY DESCRIPTION
GATX Technology is a unit of GATX Financial Corporation,
a wholly owned subsidiary of GATX Corporation (NYSE: GMT). GATX is a specialized
finance and leasing company combining asset knowledge and services, structuring
expertise, partnering and risk capital to serve customers and partners
worldwide. In addition to information technology leasing, GATX specializes
in railcar and locomotive leasing, and aircraft operating leasing.
Analysts/Investors:
Robert C. Lyons
GATX Corporation
(312)621-6633
#### Press Release #############################################
----------------------------------------------------------------------------------------
News Briefs---
Strong Bank Profits
http://www.washingtonpost.com/wp-dyn/articles/A26784-2003Apr14.html
Fleet profits down, but progress on bad loans http://www.boston.com/dailynews/104/economy/Fleet_profits_down_but_progres:.shtml
American Airline vote outcome will decide the fate of
many St. Louis workers
U.S. housing market cooling – Fannie Mae CEO
http://www.signonsandiego.com/news/business/20030414-0638-financial-fanniemae-ceo.html
http://www.bayarea.com/mld/mercurynews/business/5630639.htm
Americans See Clear Victory in Iraq, Poll Finds http://www.nytimes.com/2003/04/15/national/15POLL.html?ex=1050984000&en=
db870179b7dfb872&ei=5062&partner=GOOGLE
IBM earnings rise 16 percent
http://www.boston.com/dailynews/105/economy/IBM_earnings_rise_16_percent_:.shtml
Fitch Ratings: U.S.
Default Volume Down 75% in Q1-2003 vs. Q1-2002
http://www.fitchratings.com/corporate/events/press_releases_detail.cfm?pr_id=85116
Sports Briefs---
In End, a Sense of Loss
Jordan Has 21, But Wizards Retire Early : Knicks 93, Wizards
79
http://www.washingtonpost.com/wp-dyn/articles/A26199-2003Apr14.html
Seau Headed to Miami for a Visit
Star WR Rogers, Cox both had diluted urine, Masks tests?
http://espn.go.com/chrismortensen/s/2003/0414/1539039.html
Trial begins in $1 billion Raiders dispute with Oakland
http://www.bayarea.com/mld/mercurynews/5633097.htm
One tiny hole ruins Woods' day as Canadian Wins All
http://www.bayarea.com/mld/mercurynews/sports/columnists/skip_bayless/5629448.htm
Williams's Job Change Was the Correct Decision
http://www.nytimes.com/2003/04/15/sports/ncaabasketball/15rhoden.html
---------------------------------------------------------------------------
American History Highlights This Date
April 15,1894
Bessie Smith
http://www.blueflamecafe.com/index.html
http://bluesnet.hub.org/readings/bessie.html
Not only is this day “income
tax day” for full payment and estimated income tax, but it is the start
of NATIONAL CREDIT EDUCATION WEEK
A week during
which members of the American Collectors Association, Inc put on seminars,
contests and other events to educate youth about the importance of financial
responsibility and maintaining a good credit rating. Annually, the third
week in April.: www.collector.com.
It
is also Patriot’s Day in Massachusetts and Maine, commemorating the Battles
of Lexington and Concord, 1775. As
a historical side note, it has been said
that
Americans didn’t like paying taxes without representation. But it turned
out they just didn’t like paying taxes, period.
This may be considered a perfectly natural and healthy instinct.
But it went unappreciated by the army, which suffered greatly because
of it. Often soldier not only had no pay, but little
food, only breakfast, very little supplies, and corruption was rampant
Norman Gelb in his book, “Less than Glory,” recounts in shocking
detail innumerable instances of greed an corruption, including the sale
to the army of rotten meat, tattered clothing, shoes that fell apart,
half-empty flour barrels, and defective gunpowder. Professor Robert Shalhope
writes that farmers “demanded usurious prices for their crops,” and that
merchants “engaged in a lucrative trade with the enemy.”
“Public officials and governmental contractors,” he says, “ indulged
in widespread corruption.” So when some wag says he wishes we were back
in the good old days, tell him he doesn’t know what he is talking about.
History if full of commercial and governmental abuses. What was the American Revolution about?
http://www.nv.cc.va.us/home/nvsageh/Hist121/Part2/AmRevBackground.htm
(Gelb’s
viewpoint at the end is perhaps the most “reasonable.”)
1741-birthday of Charles Willson
Peale, American portrait painter (best known for his many portraits of colonial
and American Revolutionary War figures) was born at Queen Anne County,
MD. His children Raphael, Rembrandt, Titian and Sarah were also artists.
Died at Philadelphia, PA, Feb 22, 1827. http://www.artcyclopedia.com/artists/peale_charles_willson.html
1783-Pride in the Continental Army
is surely defensible. Through seven long years of war—the longest war
the United States ever fought until Vietnam---the army under Washington
remained true to the cause. But the spirit of sacrifice even among army
men wasn’t universal. Desertions became so common that some scheduled
attacks had to be canceled for lack of men to fight them; Gelb tells of
a general in the South who discovered in the midst of a major assault
that the seven thousand troops under his command had dwindled to only
three thousand, resulting in a disastrous rout.
It’s estimated that up to a third of the soldiers in the Revolutionary
army deserted. Some left to return home to their families or to join their
state militias, but probably most got tired of the war or were scared
of dying.
This day is most memorable as it beings the peace with Great
Britain. ( until 1812). http://memory.loc.gov/ammem/today/apr15.html
1817-the
Erie Canal was authorized. When
completed and open for traffic on October 26, 1825, this 360 mile wide
canal connecting the waters of Lake Erie at Buffalo with the waters of
the Hudson River at Albany, New York became a major transportation hub
for the growth of the area.
1817-Thomas Hopkins Gallaudet and Laurent
Clerc founded the first US public school for the deaf, Connecticut Asylum
for the Education and Instruction of Deaf and Dumb Persons (now the American
School for the Deaf), at Hartford, CT.
1843-birthday of Henry James, novelist and critic, born at New York, NY. Among his best-known
works are The Portrait of a Lady, Washington Square and The
Ambassadors. James died Feb 28, 1916, at London, England. http://classiclit.about.com/msub-hjames.htm
1850-birthday of John Longyear, American capitalist,
landowner, philanthropist, one-time mayor of Marquette, MI. Disapproving
of a railway route through Marquette, he caused his home, a stone castle-like
showplace, to be torn down in 1903 and moved, stone by stone and stick
by stick, in more than 190 freight cars and re-erected at Brookline, MA.
Born at Lansing, MI, he died May 28, 1922.
1865
- Abraham Lincoln, 16th President of the United States of America, died
at 7:22 a.m. Lincoln had been shot in the back of the head the previous
evening while attending a performance of "Our American Cousin"
at Ford’s Theatre in Washington, D.C. The assassin, John Wilkes Booth,
escaped, only to be hunted down and shot to death. Lincoln was carried
to a boarding house across the street from the theatre. He never regained
consciousness. The was Booth second attempt, but a change in
Theater plans a month earlier thwarted his attempt. Vice-president Andrew
Johnson was sworn in as 17th president of the United States. He completed Lincoln’s term and changed the
course of “reconstruction.” Five
days earlier, General Lee had surrendered
at the Appomattox Court house, virtually ending the war. It would be eleven
days later that General Joseph E. Johnson surrendered the Confederate
Army of Tennessee to General Sherman near Durham Station, NC, and a few
weeks later, on May 10th, Jefferson Davis was captured at Irwinville,
GA, by a contingent of General James H. Wilson’s cavalry, led by
Lt. Col. Benjamin Pritchard.
1869-birthday
of Thomas Hart Bent, an artist whose work was indicative of the American
style of painting known as Regionalism. His works of life in the Midwest
and South were not always flattering to their subjects, but his style
became known as a truly American style of painting. He was born at Neosho,
MO, and died at Kansas City, MO, Jan 19, 197
1898-birthday of trumpet player
Theodore “Wingie” Carpenter, St. Louis, MO
1912-
the unsinkable luxury liner Titanic on its maiden voyage from Southampton,
England, to New York, NY, struck an iceberg just before midnight Apr 14,
and sank at 2:27 AM, Apr 15. The Titanic had 2,224 persons aboard. Of
these, more than 1,500 were lost. About 700 people were rescued from the
icy waters off Newfoundland by the liner Carpathia, which reached the
scene about two hours after the Titanic went down. It is reported a ship
closer did not come to
the rescue due to
“illegalities” aboard. Many movies and documentaries about the monumental
disaster have been filmed over the years. However, none had the exacting
data gleaned by scientists from the 1986 expedition aboard "Atlantis
II". Dr. Robert Ballard headed a crew and a robot named Jason in
a descent to the deck of the "Titanic" aboard "Alvin",
a submersible craft. They returned with information and photos that challenged
and verified stories from the past. After years of studying the facts,
the 1997 Academy Award-winning film, "Titanic", recreated the
ship to the tiniest detail including the design on the elegant china.
Although the film’s love story is fictitious, the true tragedy of the
Titanic can now be seen by the world some eight decades later.
1917
- Hans Conried (actor: My Friend Irma, Bus Stop, Oh! God: Book 2, Tut
& Tuttle, The Monster that Challenged the World; host: Fractured Flickers
TV Series and other great cartoons. He
was a frequent guest on the Jack Paar Tonight Show. A great influence
on the humor of “This Day in History” written by the editor of Leasing
News; died Jan 5, 1982.
1920-birthday
of Hilda Simms, American
stage and film actress, born Hilda Moses at Minneapolis, MN. She joined
the American Negro Theater at Harlem, NY, in 1943 and was given the title
role in Anna Lucasta. When the production moved to Broadway in
1944, it became the first all-black production to be performed on Broadway
without a racial theme. Simms was the creative arts director of New York
State's human rights division, through which she was instrumental in bringing
discrimination against black actors to public attention during the 1960s.
She died at Buffalo, NY, Feb 6, 1994.
1922-birthday
of Harold Washington, Illinois
legislator and Mayor of Chicago (1983-87). Born at Chicago, IL, and died
there Nov 25, 1987. Harold Washington was one of the first African Americans
to head a major US city. He was instrumental in tearing down Chicago's
famed Democratic machine, a holdover from the many decades of domination
by the Richard J. Daley administration.
1923
- Insulin became available for general use on this day. It was first discovered
in 1922. Today, insulin is used daily in the treatment of diabetes. It
is extracted from the pancreas of sheep, oxen and by other means, including
systemization in the laboratory. Insulin, a natural and vital hormone
for carbohydrate metabolism in the body, is manufactured by the pancreas.
An overabundance of insulin causes insulin shock and leads to a variety
of symptoms, including coma.
1923
- Dr. Lee DeForest’s Phonofilm, the first sound-on-sound film, motion
picture, was demonstrated for a by-invitation-only audience at the Rivoli
Theatre in New York City. The guests saw "The Gavotte", a man
and woman dancing to old-time music and "The Serenade", four
musicians who played on wind, percussion and string instruments.
1927
- Serge Koussevitsky directed the Boston Symphony in the first performance
of Frederick Converse’s symphony, "Flivver Ten Million", a salute
to the ‘Tin Lizzie’ automobile.
1940
- Willie (William Henry) Davis (baseball: LA Dodgers [World Series: 1963,
1965, 1966/all-star: 1971, 1973], Montreal Expos, SL Cardinals, Texas
Rangers, SD Padres, California Angels)
1942
- Walt Hazzard (basketball: 1964 Olympic Gold Medallist: U.S. team; LA
Lakers, Seattle Supersonics, Atlanta Hawks, Buffalo Braves, Golden State
Warriors; UCLA coach)
1943—birthday
of singer Sam “Mighty” McClain, Monroe, LA
1945--Lionel
Hampton big band, along with gust trumpet player Dizzy Gillespie, play
Carnegie Hall, New York City.1947-Jacking Robinson became the first black
American to play in the major leagues in the 20th century when
he made his debut for the Brooklyn Dodgers against the Boston Braves. Robinson went 0-for 3 but scored the deciding run as the Dodgers
prevailed 5-3.
1950-“Buck Rogers”
appears on TV. At first a radio show, "Buck
Rogers" premiered on ABC with Kem Dibbs. Buck was an average American
who woke up from a cave behind Niagara Falls to find himself in the year
2430. The show featured Lou Prentis as Lieutenant Wilma Deering; Harry
Sothern as Dr. Huer and Harry Kingston as Black Barney Wade. Buck was
later played by Robert Pastene.
1952-Franklin
National Bank, Franklin Square, NY issued the first bank credit card. Purchases were charged to the bank, which made
the payments and then billed the card holders. The service was extended
to its branches. The first bank credit card to gain national acceptance
was the BankAmericard ( later called Visa) issued by the Bank of America,
San Francisco, in 1959. There was
no membership fee or service charge. Full-scale
services were offered to cardholders and merchants. Mastercard, originally
called Master Charge, was founded by a consortium of 77 western banks
led by the Wells Fargo
bank.
1953--Top
Hits
I Believe - Frankie Laine
Doggie in the Window - Patti Page
Till I Waltz Again with You - Teresa Brewer
Your Cheatin’ Heart - Hank Williams
1955-
The first franchised McDonald’s was opened at Des Plaines, IL., by Ray
Kroc, who had gotten the idea from a hamburger joint at San Bernardino,
CA, run by the McDonald brothers. On opening day a hamburger was 15 cents.
The Big Mac was introduced in 1968 for 49 cents; the Quarter Pounder in
1971 for 53 cents. There are more than
25,000 McDonald’s in 115 countries.
1956
- General Motors announced that the first, free piston automobile had
been developed.
1958-major
league baseball came to California as the San Francisco Giants, transplanted
from New York, The Bronx, to be exact, opened the season against the Los
Angeles Dodgers, formerly of Brooklyn, at San Francisco’s Seals Stadium.
The Giants shut out their rivals, 8-0.
1969---Top
Hits
Aquarius/Let the Sun Shine In - The 5th Dimension
You’ve Made Me So Very Happy - Blood, Sweat & Tears
Galveston - Glen Campbell
Woman of the World (Leave My World Alone) - Loretta Lynn
1971
- George C. Scott refused the Oscar for his Best Actor performance in
"Patton" at the 43rd Annual Academy Awards ceremony at LA’s
Dorothy Chandler Pavilion. He had previously told reporters that he did
not want the honor, saying (after the votes had been cast and tallied),
“It is degrading to have actors in competition with each other.” Scott
called the Oscar ceremony, “a two-hour meat parade, a public display with
contrived suspense for economic reasons.” Others who did accept the golden
statuette as recognition for their works that evening include: Glenda
Jackson, Best Actress ("Women in Love"); Helen Hayes, Best Supporting
Actress ("Airport"); John Mills, Best Supporting Actor ("Ryan’s
Daughter"); Fred Karlin (music), Robb Royer and James Griffin (lyrics),
Best Music/Song, "For All We Know" from "Lovers and Other
Strangers"; and Franklin J. Schaffner, Best Director ("Patton")
... "Patton" (Frank McCarthy, producer) also received the Best
Picture honors. Other notable flicks from 1970 (some Oscar winners, some
not): "Five Easy Pieces", "Love Story", "MASH",
"Tora! Tora! Tora!", "Diary of a Mad Housewife". http://www.infoplease.com/ipa/A0149177.html
1973
- The richest women’s golf tournament held (to that day) was won by Mickey
Wright. She won the $25,000 first prize in the Colgate-Dinah Shore Golf
Classic in Palm Springs, CA.
1977--Top
Hits
Dancing Queen - Abba
Don’t Give Up on Us - David Soul
Don’t Leave Me This Way - Thelma Houston
Lucille - Kenny Rogers
1985 - ‘Marvelous’ Marvin
Hagler helped Thomas the ‘Hit Man’ Hearn go nighty-night a littler earlier
than expected, with a third round knockout to retain the world middleweight
boxing title. Some have called the fight, “the greatest three rounds in
boxing history.”
1985--Top
Hits
We are the World - USA for Africa
Crazy for You - Madonna
Nightshift - Commodores
Honor Bound - Earl Thomas Conley
1990-“
In Living Color” premiered on TV. Fox's sketch comedy series was modeled after "Saturday Night Live."
The show was created by Keenen Ivory Wayans. Between skits, the Fly Girls
would entertain the studio audience with hip dances (actress Rosie Perez
choreographed the dances before breaking into movies). The show featured
Wayans, his brothers Damon, Marlon and Shawn, his sister Kim, Tommy Davidson,
David Alan Grier, T'Keyah "Crystal" Keymáh, Kelly Coffield,
Kim Coles and Jim Carrey before he was Ace Ventura. Some of the most popular
recurring characters were Homey, the embittered clown, the flammable Fire
Marshall Bill and the effeminate movie critics of "Men on Film."
1997-in ceremonies
marking the 50th anniversary of the debut of Jackie Robinson
in the major leagues, Bud Selig, chairman of baseball’s Executive Committee,
announced that Robinson’s uniform number 42 would be retired by all major
league teams. Players then wearing
42 were allowed to continue to do so, but no team would ever assign 42
again.
1998-The
New York Yankees and the New York Mets each played a home game at Shea
Stadium, with the Yankees defeating the Anaheim Angeles, 3-2, in the afternoon,
and the Mets beating the Chicago Cubs, 2-1, at night.
This unique doubleheader was occasioned by a structural accident
at Yankee Stadium. a
500- pound steal beam fell from the upper deck on April 14,
forcing New York City to close the park temporarily for inspection and
repairs. The Yankees returned to their own home on April 25 beating the
Detroit Tigers, 8-4.
1999-
Astronomers from San Francisco State University working at an observatory
n Arizona announced the discovery of the first multi-planet system ever
found orbiting around a star other than our own. Three planets orbit the
star Upsilon Andromedae, which can be seen with the naked eye. This suggests
that the Milky Way probably teems with similar planetary systems.
Stanley Cup Champions This Date
1937 Detroit Red Wings
1952 Detroit Red Wings
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