Tuesday, August 7, 2018
Today's Equipment Leasing Headlines
Global Financial & Leasing Services, LLC
Joins Funder, Looking for Broker, Story Credit Lists
July 30 - August 3
Find a new job today
Wells Fargo’s 401(k) Win Is Good News for Banks
Bad News for Savers
94 Months Of Continuous
U.S. Job Growth
Why I Became a CLFP
TODAY: Free One Hour Webinar by ELFA
2018 Survey of Equipment Finance Activity
Adopt a Dog
Tariffs shopping list:
What grocery prices will go up – or down
Retiring truck drivers
fuel job shortage
‘Too Little Too Late’:
Bankruptcy Booms Among Older Americans
Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
www.leasingcomplaints.com (Be Careful of Doing Business)
Leasing News Icon for Android Mobile Device
You May have Missed---
California Nuts Brief---
"Gimme that Wine"
This Day in History
Weather, USA or specific area
######## surrounding the article denotes it is a “press release,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer,
it is considered a “byline.” It reflects the opinion and research of the writer.
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Work Remotely from Portland, Oregon
Experienced commercial banker and former commercial equipment leasing industry professional seeking full-time or part-time work out of my home in Portland, Oregon. Over twenty years’ experience in credit analysis, underwriting, sales and collections. Known for creative problem solving and strong quantitative & qualitative analytical skills. Demonstrated ability to gather information, evaluate and make informed strategic business decisions to maximize profit and mitigate risk. Well known for ability to develop strong business relationships with Clients and large list of national equipment leasing Brokers. Please see attached resume and contact me below if interested.
|Orlando, Florida - Will work remotely
As a Commercial Credit Analyst/Underwriter, I have evaluated transactions from sole proprietorships to listed companies, across a broad spectrum of industries, embracing a multitude of asset types. Sound understanding of balance sheet, income statement and cash flow dynamics which impact credit decisions. Strong appreciation for credit/asset risk.
Seattle, WA – Will Work Remotely
A highly skilled credit expert. Extensive underwriting background in small ticket leasing and commercial banking. Managing equipment finance credit operations, performing daily credit tasks, spreading/analyzing financial statements, preparing monthly reports. Exceptional organizational, analytical, communication skills. I excel at making sound credit decisions in a fast paced environment. firstname.lastname@example.org
Global Financial & Leasing Services, LLC
Joins Funder, Looking for Broker, Story Credit Lists
In Business Since
All 50 states
A -Accepts Broker Business | B -Requires Broker be Licensed
| C -Sub-Broker Program| D -"Private label Program" | E - Also "in house" salesmen
Full Funder List:
Full Looking for Broker List
Full Story Credit List
July 30 - August 3
Changes at Amur
The Junk Debt that Tanked the Economy?
It's Back in a Big Way
Sales Make it Happen by Mr. Terry Winders
“What is a professional lease salesperson?”
Top Six Leasing Company Websites
Delaware Appeals Court Affirms Judgment in Amur Finance Case
Marlin Completes $201.7 Million
Term Debt Securitization - Why?
Originator Compensation Results
from over 200 Professionals
Wells Fargo’s 401(k) Win Is Good News for Banks,
Bad News for Savers
by Daren Fonda
Wells Fargo (WFC) dodged a legal bullet that is likely making other financial firms breathe a bit easier. The company was accused of self-dealing for stuffing its own target-date funds into its 401(k) plan — a claim that investors in other 401(k) plans have also made.
But the United States Court of Appeals for the Eighth Circuit dismissed a case against Wells last week. Yes, Wells had made its own target-date funds the default choice in its plan. And yes, the funds were pricier than similar funds from Fidelity and Vanguard, due to their fees, and they had underperformed the Vanguard target-date fund.
But so what? The judges ruled that Wells was within its legal rights to choose its own funds for its plan. “Fiduciaries are not required by ERISA to select ‘the cheapest possible fund’ available in the market,” the judges said, referring to the Employee Retirement Income Security Act, a 1974 law governing workplace retirement plans.
Moreover, the Wells funds weren’t “imprudent” choices, partly because the lawsuit didn’t make apples-to-apples comparisons to rival funds. The Wells funds held more bonds than the lower-cost Vanguard fund referenced in the lawsuit, resulting in underperformance by the Wells funds. But “no authority requires a fiduciary to pick the best performing fund,” the judges ruled.
Wells isn’t the only financial firm facing lawsuits of this nature. BlackRock (BLK), BB&T (BBT), Franklin Resources (BEN), T. Rowe Price (TROW) and JPMorgan Chase (JPM) have all been sued for alleged self-dealing in their 401(k) plans, according to a summary of such cases by Bloomberg Law.
Each case involves different claims and circumstances. But the rise of low-cost index funds may make it much tougher for firms to plausibly argue that their own higher-fee, underperforming funds are actually in the best interest of employees — rather than the firms making money off the funds.
“There’s been a lot of litigation recently premised on the idea that low cost is imperative and any fund that is higher priced than the lowest cost alternative is imprudent,” says attorney William Jewett, a partner at law firm Ropes & Gray.
Financial firms have an exemption under ERISA to include their own funds in 401(k) plans, he adds. But to get that exemption they only have to show that their funds are available in the plan on the same or better terms as they are to outside investors. “It could be a high fee poor performing fund without violating the exemption,” Jewett says.
Wells “got off the hook” for stuffing its 401(k) plan with its own funds, Jewett adds. But other firms may not be so fortunate, especially if they keep steering employees to funds that have underperformed lower cost rivals for long periods.
Wells Fargo’s 401(k) Win Is Good News for Banks, Bad News for Savers
94 Months Of Continuous U.S. Job Growth
by Niall McCarthy
The record-breaking pace of U.S. job creation shows no signs of slackening. According to the latest ADP data, 219,000 jobs were added in July, the 94th straight month of job growth. That figure also beat analyst's expectations of an additional 185,000 new jobs. The following infographic uses the July figure from ADP and adds it to Bureau of Labor Statistics to provide an overviw of the job market since 2008.
The impact of tariffs is not ecident in the most data with nearly every industry making gains. The information sector was the only area posting a slight decline. Growth was led by medium-sized companies employing 50 to 499 people and they expanded their payrolls by 119,000. Large businesses also added 48,000 jobs while small businesses added 52,000.
Why I Became a CLFP
Bree Johnson, CLFP
Lease Operations Manager
First Foundation Bank
I decided to become a CLFP after working in the industry over many years and feeling that I had finally found my career path. Before getting introduced to the Equipment Lease & Finance industry my experience was with Administrative Assistant positions. I had no formal college degree or experience in the industry. After being given the opportunity to work with Westover Financial in 2006, learning under the one and only Jaimie Haver, I came to LOVE Equipment Leasing & Financing and the rest is history.
My years with Westover allowed me to build valuable relationships in the industry, thus leading me to the Banking world. Joining the team at Commerce National Bank in 2009 and helping to grow the Equipment Leasing division, the CLP’s in our department strongly encouraged me to take the exam. I didn’t take them very serious, as I felt the exam was out of my ‘league’. If it wasn’t for the persistent pressure from Bob Robichaud, I probably would never have pursued becoming a CLFP. Bob became a mentor to me; guiding and teaching me Leasing in depth. After weeks of training I heard of the Institute for Leasing Professionals (ILP), which prepared individuals for taking the CLFP exam. Being a working mom, I needed all the training I could get. I read almost through the CLFP Handbook prior to the ILP, which was helpful, but I was still lacking details in many areas. The ILP provided valuable information that opened up my mind to all areas of the industry.
The CLFP exam was intense, but over 2 days of training I was well prepared and there was no turning back. With the support of many, especially from my Lovely Ladies of Leasing, passing the CLFP exam made me feel accomplished and knowledgeable in the industry. This is my ‘college degree’ and I earned it. Since becoming a CLFP I have experienced a lot of growth and opportunity; starting as a Documentation & Funding Processor, then becoming the Operations Supervisor for Fin Pac Commercial and now an Operations Manager with First Foundation Bank, I’d say my CLFP title has helped me achieve my career goals (for now) and has given me the confidence to become more involved in the industry. At almost a decade in the Equipment Lease & Finance Industry I plan to focus more on the credit underwriting process; this way I can be fully faceted in the industry and one day mentor those interested in becoming a CLFP.
Thank you for the opportunity to share my story. I hope to encourage others who think the CLFP is out of their ‘league’. Becoming a CLFP is NOT out of your league – new or seasoned in the industry, take the exam. It will change your perspective and will bring much opportunity.
(To learn more about the CLFP Handbook)
Why I Became CLP testimonials
##### Press Release ############################
August 7 Free One Hour Webinar by ELFA
2018 Survey of Equipment Finance Activity
WHAT: The Equipment Leasing and Finance Association is hosting a free one-hour webinar to present findings of its 2018 Survey of Equipment Finance Activity (SEFA), the largest and most important source of statistical information on the $1 trillion equipment finance industry.
WHEN: Tues, Aug. 7, 2018, at Noon ET
HIGHLIGHTS: The webinar is designed to help business leaders use the data in the 2018 SEFA to benefit their organizations. Topics will include:
- Introduction to the 2018 SEFA
- Key findings: New business volume; yield/cost of funds; financial statements; portfolio performance; and business processes (credit approval, remarketing/asset management and headcount)
- A live demo of the new Interactive SEFA
- Tips for using the data effectively
WHO: The webinar will be presented by Raymond James, Chair of the ELFA Research Committee and Senior Consultant at Ivory Consulting Corporation; Carol Ann Fisher, Consultant at PwC, which produces the report in partnership with ELFA; and Bill Choi, ELFA Vice President for Research and Industry Services.
WHERE:To join the webinar, please go to https://zoom.us/j/944814855 on Aug. 7 at Noon ET.Audio Dial In: 1-408-638-0968; Meeting ID: 944-814-855. For technical questions, call 888.799.0125. Add the webinar to your calendar.
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.
### Press Release ############################
Grand Island, Nebraska Adopt a Dog
Age: 9 Years, 9 Months
Site: Central Nebraska Humane Society
Location: Dog 10
Intake Date: 3/1/2018
Adoption Price: $50
"Well hey there my name is Max. I love hanging out and sleeping. My fur is super soft and I'd love to sit next to you and watch TV or snuggle up. I'm a good boy who is calm; I do love a good walk and am protective of my human. My protective side makes my loud bark come out and can be scary to other dogs. I've been brought back to the shelter because my protective side has gotten me in trouble. I am scared of men and can lash out at them. I'd do best in a home without men and children. Stop by the shelter and lets spend some time together! What visitors have said about me: I'm very calm and will go where you tell me to. I playful and know how to sit when told."
Central Nebraska Humane Society
1212 Sky Park Road
Grand Island, Nebraska 68801
(308) 385 -5305
Adopt a Pet
Tariffs shopping list: What grocery prices will go up – or down
Retiring truck drivers fuel job shortage
‘Too Little Too Late’: Bankruptcy Booms Among Older Americans
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How an Ex-Cop Rigged McDonald’s Monopoly Game and Stole Millions
Barry Bonds Hits his 700 the Home Run
By Kit Menkin
He swaggered to the plate,
like Elvis Presley going on stage
Joe Louis entering the ring,
Taking care of business
The fans knew he would hit 700---
They stood as the Giants were leading
in the first inning
But the Pitcher hit Bonds in the chest
He shrugged it off,
like Elvis Presley going on stage,
Walking to first base,
Knowing he would score a run.
The field was more lit up than Las Vegas,
Bright, surreal, as if this was a movie set,
The players moving in slow motion
as the pitcher tried to take control.
The third inning the fans stood up again,
This time the ball came in for a strike,
as the pitcher had the guts with a fast ball,
It happened so fast.
Bonds swung in stride,
Moving in this baseball ballet,
Knowing the ball was his,
Taking care of business.
He ran the bases,
Went back to the dug out,
as the crowd went wild,
699 was changed to 700,
a new “legend” sign was revealed.
He did not come out again,
until the new inning
Walking to the right field,
next to the new “legend” banner.
He threw the ball several times
to the coach on the side line,
As the crowd continued to roar,
camera flash lights from the stadium.
He popped out the next time,
almost as if he swung too soon.
His run to first was fast than slow
as he watched the ball tell him no.
He came up to bat one more time,
Determined, seemingly angry,
Ready to make up for the last time,
It wasn't a swagger.
Don't treat me this way,
I'm going to hit it far,
Two strikes and he swung so hard,
if he had connected,
It would have gone to Treasure Island,
The swing had so much power,
You could feel it in the stands.
Afterwards he was happy,
His team won Four to One;
on Saturday he hit 701
Taking care of business.
10 highly drafted NFL players facing put-up-or-shut-up 2018 season
NASCAR chairman France takes leave after DWI, drug arrest
California Nuts Briefs---
Mendocino Complex fire now largest in California history, capping destructive year
“Gimme that Wine”
Napa County approves a castle winery for Martini family
CNN Announces the Final 5 Episodes of Parts Unknown
Dunn Cabernet Sauvignon Howell Mountain Vertical: 1979 – 2014
Blue Wine Trend Hits France
Putting Ice in Your Wine Is Totally Fine, Haters
Veraison arrives in Sonoma, Napa vineyards,
signaling harvest is near
Wine Prices by vintage
US/International Wine Events
Leasing News Wine & Spirits Page
This Day in History
1679-The “Le Griffon,” a two-masted armored square-rigger built by the explorer Robert Cavelier, Sieur de La Salle, at Cayuga Creek, near the Niagra River in New York, was launched in the Great Lakes, the first such ship to sail here. It was of 60 tons burden and sailed Lake Erie and Lake Michigan. It sank on September 18,1679, only a month in operation, during a gale in Mackinaw Strait and is believed to be resting in Mississagi Strait, Manitoulin Island, Canada. Road transportation was very poor, and the best, fastest means of transportation of not only people, but supplies, was by water. The great population lived around waterways.
1727- French Ursuline nuns first arrived at New Orleans, where they set up the first Catholic charitable institution in America. It comprised an orphanage, a girl's school and a hospital
1742- birthday of Nathaniel Greene, born at Patowomut, RI. A statue of him was placed at the US Capitol in 1870 by Rhode Island. Many historians rank him second only to Washington as a military leader. Born to a Quaker family, who organized the Kentish Guards, and his life is right out of movie “The Patriot”, which may be been based on his life. Some trivia facts, because of a stiff knee, the men would not let him lead the troops, so he followed with the general rank of soldiers. He worked his way up to brigadier general, then major general, and commandeered the army of occupation in Boston. He was chosen by Washington to run administration, a post he did not like, and resigned to replace General Horatio Gates, whose army had been badly beaten at Camden, S.C. By skill preparation and a series of brilliant maneuvers, according to historians, Greene push the British back into Charleston and Savannah ( just like in the move “The Patriot.” Georgia was so grateful for his saving so many farms and lives they gave him a plantation near Savannah, were he went to live in 1785. He died in 1786.
1760- in the French and Indian War (1754-1763):Captain Demere Fort Loudon, Tenn., capitulated to the Cherokee Indians at Fort Loudon, Tennessee. He surrendered under condition that his troops be allowed to retreat unimpeded. On August 10, the garrison was ambushed and massacred by Indians while retreating to Fort Prince George in South Carolina. To fully understand the life in this period, American Indians were constantly fighting and killing each tribe, very similar to Africa in the last century, as they fought for dominance. Perhaps similar to European culture as the French, English, Germans, and Spanish for centuries warred with each other. The Indians, as did the Europeans, allied with the British, the French, the Dutch, especially if another tribe had aligned themselves with the opposing side. They also did not follow the European custom of war or truce, especially fighting what was then modern warfare of armor, cannon, rifles and horses, unknown to the Indians until introduced by the Spanish and English. All Indians were not to be trusted. Physically alcohol went right to their brain and soon they became very dependent on rum whiskey, and even wine, which they had never produced before.
1782- at Newburgh, NY, General George Washington ordered the creation of a Badge of Military Merit. It was the first honor badge for enlisted men and noncommissioned officers. The badge consisted of a purple cloth heart with silver braided edge. Only three are known to have been awarded during the Revolutionary War.: Sergeants Daniel Bissell, William Brown and Elijah Churchill of Connecticut regiments, decorated on May 9, 1783, for singularly meritorious action in the Revolutionary War. They were entitled “ to wear on facings over the left breast, the figure of a heart in purple cloth or silk, with narrow lace or bindings.” The award was re-instituted on the bicentennial of Washington's birth, Feb 22, 1932, and recognizes those wounded in action.
1789-The first lighthouse bui8lt after American independence was located at Cape Henry, Virginia at the entrance of Chesapeake Bay. The first lighthouse keeper was Laban Goffigan. The original fuel for illumination was fish oil, followed later by whale oil, colza oil, lard oil, kerosene, gas, and finally, electricity. The advent of inexpensive radar, many lighthouses have been sold or demolished in the United States as too costly to maintain..
1794-The Whiskey Rebellion broke out in western Pennsylvania among farmers opposed to a federal excise tax on liquor passed in 1791. Farmers of Washington and Allegheny counties attacked federal officers. This day in 1794 Washington issued a proclamation ordering the insurgents to go home and calling out a militia of 13,000 from four states. He issued another proclamation on September 24, and ordered the militia to suppress the uprising. “ The report of the commissioners marks their firmness and abilities, and must unite all virtuous men, by shewing that the means of conciliation have been exhausted. “For a time Washington led this force in person. By mid-November the trouble was over. Two men were convicted of treason, but Washington pardoned them.
1801- The Great Religious Revival of the American West began at a Presbyterian camp meeting in Cane Ridge, Kentucky.
1807-The first trial of the Clermont, a steamboat, designed by Robert Fulton, began its trip to Albany, NY. It made the 150-mile journey in 32 hours and returned in 30 hours. Quite a fete in its day. The Clermont was the first steamboat to make regular trips.
1847-George Page, Washington, DC, received a patent for a plow for pulverizing the soil. Page's design used a revolving single disk on the side of the plow. This invention revolutionized farming.
1849-Wright and Co. of San Francisco asked Gov. Riley for permission to mint $5 and $10 gold coins to relieve money famine
1852-Birthday of Franklin L. Sheppard, Presbyterian organist and hymnbook editor. It was Sheppard who composed the hymn tune TERRA PATRIS, to which we sing "This is My Father's World."
1856-Justice Terry was released by the Committee of Vigilance and immediately took refuge aboard the Navy vessel "John Adams" in San Francisco Bay.
1882- Hatfields of south West Virginia & McCoys of east Kentucky feud, 100 wounded or die.
1887-Birthday of pianist Lucky Roberts, Philadelphia, PA
1880Theophilius Van Kannel of Philadelphia, PA received a patent for a revolving door. The first building to install a revolving door was an office building in Philadelphia.
1895-Birthday of pianist Lucky Roberts, Philadelphia, PA.
1903-Birthday of Rudol C. Ising, co-creator with Hugh Harmon of “Looney Tunes” and “Merrie Melodies” born at Kansas City, MO. Ising and Harmon's inital production, Bosko the Talk-Ink Kid(1929) was the first talkie cartoon synchronizing dialogue on the soundtrack with the action on screen. Ising received an Academy award in 1948 for Milky Way, a cartoon about three kittens. During WWII, he headed the animation division of the Army Air Forces movie unit developing training films. Rudolf Ising died July 18, 1993, at Newport Beach, CA.
1904-Birthday of Ralph Bunche, American statesman, UN official, Nobel Peace Prize recipient ( the first black to win the award), born at Detroit, MI. Died December 9, 1971 at New York, NY.
1904 - A flash flood near Pueblo, CO, washed a train from the tracks killing 89 passengers. A bridge, weakened by the floodwaters sweeping through the valley below, gave way under the weight of the train dashing all but the sleeping cars into the torrent drowning the occupants. Rail service was frequently interrupted in the Rocky Mountain Region and southwestern U.S. that summer due to numerous heavy downpours which washed out the railroad beds delaying trains as much as five days.
1905 - The mercury soared to 127 degrees at Parker, AZ, to tie the state record established at Fort Mohave on the 15th of June in 1896.
1910 Pianist/Bankleader/Boogie Woogie Champ Freddie Slack Birthday
1913-Birthday of guitarist George Van Eps, Plainfield, NYU.
1923-Birthday of trumpet player Idrees Sulieman, St Petersburg FL.
1918- New York City's hottest day and night with 102 and 82 minimum. Philadelphia reached a record of 108.
1918-Philadelphia sets record of 106.
1926-Birthday of satirist Stan Freberg, Pasadena, CA. He began his career doing cartoon voices, and in 1951 had a record hit with "John and Marsha," a parody of soap operas. Freberg's 1953 recording of "St. George and the Dragonet" and "Little Blue Riding Hood" was a double-sided million seller. Freberg later turned to producing radio and TV commercials.
1929-Babe Ruth ties record by hitting grand slams in consecutive games.
1934- US Court of Appeals upheld lower court ruling striking down government's attempt to ban controversial James Joyce novel "Ulysses".
1936- Birthday of saxophone player Rahsaan Roland Kirk, Columbus OH.
1937-Birthday of trombone player George Bohanon. Detroit MI.
1937-Trumpet player Bunny Berigan Band records classic version of “I Can't Get Started.” ( Victor 36208). It was released in a two side shellac and a large 12 inch shellac, due to his long and famous trumpet solo.
1939-Birthday of singer Ron Holden, Seattle, WA.
1940 -Largest amount paid for a stamp at that date ($45,000 for 1 1856 British Guiana).
1941-Birthday of sax player Howard Johnson, Montgomery, AL.
1942-Birthday of singer B.J. Thomas, born in Houston, Texas. His easy, middle-of-the-road style was featured on the million-sellers "Hooked on a Feeling" in 1968 and "Raindrops Keep Fallin' on My Head," from the movie "Butch Cassidy and the Sundance Kid," in 1970. In 1975, Thomas topped both the pop and country charts,with "(Hey, Won't You Play) Another Somebody Done Somebody Wrong Song." He later concentrated on gospel, and more recently pure country material.
1942-The U.S. Marines Landed on Guadalcanal . The American offensive in the Pacific in World War II began at Guadalcanal, Solomon Islands, by the Marines under Lieutenant General Alexander Archer Vandergrift. The Marines landed at Floria, Gavutu, Guadalcanal, Tanambogo, and Tulagi. The overall commander was Vice Admiral Robert Lee Ghormley, South Pacific Commander. This was considered the turning point of the war as US Allies had to win this geography not only for defense purposes, and raise morale at home and on the European front, but for the strategy of the War in the Pacific, this was the key and Victory at Sea has documented this very well with the music of Richard Rodgers.
1943-Birthday of singer Lana Cantrell.
1947- Balsa raft Kon Tiki crashes into a Polynesian archipelago reef.
1948- Hank Williams made his first appearance on the "Louisiana Hayride" radio show over station KWKH in Shreveport. Although Williams was virtually an alcoholic, he was booked regularly on the show. And in 1949 came a contract with the Grand Ole Opry. Williams was fired from the Opry in 1952 because of his perpetual drunkeness.
1949 - "Martin Kane, Private Eye" was first heard on Mutual radio. William Gargan starred on the Sunday afternoon program.
1951-Birth of Randy Shilts, gay San Francisco author and journalist whose groundbreaking books in the '80s exhaustively chronicled for the first time the spread of the AIDS epidemic and the Reagan Administration's deadly indifference to it.
1953-The first Navy-Marine Corps Medal for Heroism awarded to a woman was present to Staff Sergeant Barbara Olive Barnwell, of Pittsburgh, PA, Marince Corps Reserve, in Washington, DC. She saved Private First Class Frederick G. Romann form drowning on June 7, 1952, at Onslow Beach, Camp Lejeuene, NC>
1953 - SSgt Barbara Barnwell was the first woman Marine awarded the Navy and Marine Corps Medal for heroism. She was from Pittsburgh Pennsylvania and a member of the Marine Reserve, saved a soldier from drowning in 1952.
1954-Billboard magazine runs an article about Elvis Presley, calling him "a potent new chanter who can rock a tune for either the Country or the R&B markets."
1956-57,000 people, the largest minor league baseball crowd in history, watched former Negro Leagues star and major leaguer Satchel Paige pitch of the Miami Marlines in an International League game against the Columbus Jets. The game was played at the Orange Bowl, and Miami won.
1957-Paul Anka makes his first network TV appearance on American Bandstand where he performs his current hit, "Diana".
1959-Us satellite Explorer VI transmitted the first picture of Earth from space. For the first time we had a likeness of our planet based on more than projections and conjectures.
1963-The film, Beach Party with Frankie Avalon and Annette Funicello, opens in American theatres. Music is provided by Dick Dale and the Del Tones.
1963- Jackie Kennedy becomes the 1st first lady to give birth since first lady Francis Cleveland's ( 1893 and 1895-she was 27 years younger than her long time bachelor president who she married in his first term, he was defeated, but won the next election, the only president to do so ) "Mrs. Kennedy gave birth to their third child, Patrick Bouvier Kennedy. He suffered from a serious lung ailment, and was rushed to the Children's Hospital in Boston. Patrick died two days later, and Mr. and Mrs. Kennedy grew closer as they grieved the death of their son. Sadly, another tragedy befell her as she was still recovering from this terrible loss. On November 22, 1963, President Kennedy and Mrs. Kennedy were in Dallas, Texas. As their car drove slowly past cheering crowds, shots rang out. President Kennedy was killed and Jacqueline Kennedy became a widow at age thirty-four. She planned the President's state funeral, which was watched by millions around the world who shared her grief and admired her courage and dignity."
1964-Congress approved the Gulf of Tonkin Resolution,” pertaining to the war in Vietnam, which gave President Lyndon Johnson authority “ to take all necessary measures to repel any armed attack against the forces of the Untied States and to prevent further aggression.”
1965-Herman's Hermits reached number one in the US with a silly little song called "I'm Henry VIII, I Am". The tune was actually written in 1911 and had been popularized by Cockney comedian Harry Champion.
1966- Race riot in Lansing Michigan.
1966-Third-Annual San Francisco South-of-Market and North Beach Children's Adventure Day Camp benefit with Quicksilver Messenger Service, Big Brother and the Holding Company, and The Grateful Dead held at Fillmore Auditorium. Gary Goodrow of The Committee was master of ceremonies.
1970- Christine McVie became the first female member of the British rock band Fleetwood Mac. McVie was the wife of the group's bass guitarist, John McVie, and had previously performed with the blues rock band Chicken Shack. Christine joined Fleetwood Mac shortly after one of the group's original members, Peter Green, had left. When Fleetwood Mac was formed in 1967, it played blues classics and blues-influenced original material. But after the departure of Green, the group began performing more melodic rock songs. The band's commercial breakthrough came with the 1975 album "Fleetwood Mac," which sold four-million copies.
1970-- Four people, including presiding judge, killed in courthouse shootout in San Rafael, California. Police charge Angela Davis provided weapons.
1970-Jonathan Jackson (the younger brother of George) and three others killed in attempt to seize radio station in Marin County, Calif. to expose injustice.
1971---HAGEN, LOREN D. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Infantry, U.S. Army Training Advisory Group. Place and date: Republic of Vietnam, 7 August 1971. Entered service at: Fargo, N. Dak. Born: 25 February 1946, Fargo, N. Dak. Citation: 1st Lt. Hagen distinguished himself in action while serving as the team leader of a small reconnaissance team operating deep within enemy-held territory. At approximately 0630 hours on the morning of 7 August 1971 the small team came under a fierce assault by a superior-sized enemy force using heavy small arms, automatic weapons, mortar, and rocket fire. 1st Lt. Hagen immediately began returning small-arms fire upon the attackers and successfully led this team in repelling the first enemy onslaught. He then quickly deployed his men into more strategic defense locations before the enemy struck again in an attempt to overrun and annihilate the beleaguered team's members. 1st Lt. Hagen repeatedly exposed himself to- the enemy fire directed at him as he constantly moved about the team's perimeter, directing fire, rallying the members, and resupplying the team with ammunition, while courageously returning small arms and hand grenade fire in a valorous attempt to repel the advancing enemy force. The courageous actions and expert leadership abilities of 1st Lt. Hagen were a great source of inspiration and instilled confidence in the team members. After observing an enemy rocket make a direct hit on and destroy 1 of the team's bunkers, 1st Lt. Hagen moved toward the wrecked bunker in search for team members despite the fact that the enemy force now controlled the bunker area. With total disregard for his own personal safety, he crawled through the enemy fire while returning small-arms fire upon the enemy force. Undaunted by the enemy rockets and grenades impacting all around him, 1st Lt. Hagen desperately advanced upon the destroyed bunker until he was fatally wounded by enemy small arms and automatic weapons fire. With complete disregard for his personal safety, 1st Lt. Hagen's courageous gallantry, extraordinary heroism, and intrepidity above and beyond the call of duty, at the cost of his own life, were in keeping with the highest traditions of the military service and reflect great credit upon him and the U.S. Army.
1971-After having half-a-dozen Top 20 hits in the US, The Bee Gees finally scored their first number one with "How Can You Mend A Broken Heart". Barry and Robin Gibb had written the song for crooner Andy Williams, but he turned it down.
1972 - Yogi Berra, Sandy Koufax, Lefty Gomez and Early Wynn were among eight players inducted into the Baseball Hall of Fame this day.
1976 - No. 1 Billboard Pop Hit: "Don't Go Breaking My Heart," Elton John & Kiki Dee. The song is the first on which John sings to hit No. 1 on the British charts.
1981 - After 128 years of publication, "The Washington Star" ceased operation. Only one daily newspaper remained to serve the nation's capital: "The Washington Post".
1984 Jim Deshales becomes 1,000th playing Yankee.
1985- Barbara Streisand records "The Broadway Album".
1986-A judge in Los Angeles dismissed a lawsuit against heavy metal rocker Ozzy Osbourne by the parents of a teenage suicide victim. The 19 year-old youth killed himself while listening to Osbourne's "Suicide Solution."
1986 - No. 1 Billboard Pop Hit: "Glory of Love," Peter Cetera. Cetera was a member of the group Chicago until 1982.
1987 - "Back to the Beach" opened at theatres around the country. The film reunited Frankie Avalon and Annette Funicello, who played middle-aged parents with rebellious kids -- kids like Frankie and Annette had played in their "Bikini Beach" movies in the 1960s.
1987-24 years after the movie Beach Party was released, Back to the Beach opened at theatres across America. The film reunited Frankie Avalon and Annette Funicello, who this time played middle-aged parents with rebellious kids.
1988 - Thirty-eight cities in the north central and northeastern U.S. reported record low temperatures for the date. Youngstown, OH, hit 100 degrees, and for the second day in a row, Flint, MI, reached 101 degrees, equalling all-time records for those two cities.
1989-Phoenix records the 62nd straight day with 100 degree plus temperatures, setting a new record. Twenty-four cities, mostly in the southwestern U.S., reported record high temperatures for the date. Afternoon highs of 105 degrees at Cedar City, UT, and 114 degrees at Moab, UT, were all-time records for those locations
1990-Five days after the Iraqi invasion of Kuwait, US President George Bush ordered the military buildup that would become known as Desert Shield to prevent further Iraqi advances. This was a watershed day in the Middle East. Iraq announced that it had annexed the kingdom of Kuwait -- moving over 200,000 troops into the tiny, oil-rich country. As Iraq declared Kuwait to be its 19th Providence, U.S. President George Bush (I) warned Iraqi President Saddam Hussein, “A line has been drawn in the sand.” An ordered trade and financial boycott had not worked and American forces began moving into Saudi Arabia. August 9 a naval blockade would begin and by November 8, 230,000 American troops would be in Saudi Arabia. CNN would bring us the war “live” and the “see all, expose all” of satellite transmissions would bring instantaneous sight and sound to the entire world. The BBC had been doing this for years, building a worldwide audience, but CNN would bring dramatic pictures and “You Are There.”
1991-A last-minute entry who didn't have the opportunity to play a practice round, John Daly won the PGA Championship at Crooked Stick Golf Club in Indiana by three strokes over Bruce Lietzke. Daly endured a wealth of personal problems in the ensuing years, including marital difficulties and alcoholism. but he continued to thrill tournament crowds with his prodigious drives and his “grip it and rip it” approach to the game.
1995 - Alanis Morissette's biting "You Oughta Know" soars to No. 1 on Billboard's Modern Rock chart and is the most requested tune on rock radio.
1997 - Garth Brooks played to a crowd estimated at between 250,000 and 900,000 -- with an HBO audience of more than 15 million. The crowd at the free concert, was the largest ever for a concert in New York's Central Park. Said Garth of the preparations required, “We rehearse indoors at a place here in New York. Then we rehearse with no sound for the camera guys, so they will hopefully be in the vicinity of what's going on. And then the rest of it's really, man, just fly by the seat of your pants. You know, once the show starts, all the rules are out the window.” Police estimated 250,000 were there - the promoters said the crowd was three times that size. Billy Joel and Don McLean made guest appearances. The show was meant to coincide with the release of Brooks' album "Sevens," but because of a dispute between the singer and his record company, EMI, it didn't come out until three months later.
1998 - A pair of major explosions near U.S. embassies in Kenya and Tanzania killed 224 people, including 12 Americans. “Clearly, this is a terrorist attack,” U.S. State Department spokesman Lee McClenny said.
2001--"Black Betsy," Shoeless Joe Jackson's 40-ounce warped hickory bat, is won by 30-year-old businessman Rob Mitchell in a 10-day eBay auction. The $577,610 price tag is believed to be the largest amount ever paid for a baseball bat.
2003-- Albert Pujols joins Jose Canseco as the only other player in major league history to hit 30 home runs and drive in 100 runs during of their first three seasons.
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