This Day in American History
This Border ##### Denotes Press Release (Not Written By Leasing News)
Alert---The Funding Tree/Legacy
A highly reliable source has informed us Bruce Peterik has changed his name to
Jack Thompson...and for Funding Tree, and Legacy Leasing, both are
The question is where is Kendra Bernal. Evidently she did not go to jail,
but appears to have flown the coop. Until about a month ago, her Leasing
News e-mail worked, but then started to come back.
Money has it she is back in the leasing business under a different name.
Classified ads-- 68 ads Jobs Wanted---All Types
Contract Administrator: Lewisville, TX. 2 1/2 Years banking experience & almost 3 years Leasing experience. ( Contract Admin) hard Worker, learns quickly & willing to relocate. email: email@example.com
Documentation/Funding/Collection Manager: Phoenix, AZ. Five years in Equipment Leasing Industry. Looking for a Leasing home in Phoenix. Prefer documentation/funding, but interested/open to managing account portfolios.
Finance: Austin, TX.
20+ years all facets of lease/finance. Collection and credit management. Equipment & rolling stock structuring. $150k credit authority, $100 million portfolio management. email: firstname.lastname@example.org
Finance: Lyndhurst, NJ
CFO w/20+ years leasing/financing. Respected by lenders/rating agencies full & fair financial reporting. Outstanding record restructuring debt. Adept at investor relations and mentoring people. Email:email@example.com
Finance: Atlanta, GA
Twenty-five plus years experience in middle market lease/ asset based/cash flow transactions. Heavy banking and credit background, with particular expertise in structure and negotiation. Email:firstname.lastname@example.org
Legal: Los Angeles, CA
Experienced in-house corporate and financial services attorney seeks position as managing or transactional counsel. Willing to re-locate. email:email@example.com
To view the full list, please go here:
to post a “free” job wanted ad:
This Week's Economic Events
Factory Orders: June
U.S. Productivity: 2nd Qtr.
Consumer Borrowing: June
Sales of Leading Retailers: July
Weekly Jobless Claims
### Press release #########################################
“Slowdown” reports NACM Credit Manager Index for July,2003
COLUMBIA, MD: --The National Association of Credit Management (NACM) has released its Credit Manager's Index (CMI) for July 2003. The CMI, a monthly
survey of the business economy from the standpoint of credit and collections, was launched in January 2003 to provide financial analysts with another strong economic indicator.
The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies.
The NACM Credit Manager's Index (CMI), while showing growth in the economy, has fallen for the third consecutive month. It has lost 190 basis points since April's reading of 57.3%, indicating slower growth on a month-over-month basis. The manufacturing sector is the reason for the slowing.
The manufacturing index has declined 390 basis points since its April high of 58.0%. Growth in the service sector this month was unchanged from June.
This performance is positive in the sense that the index didn't decline as it did in June. The service index of 56.9% is the second highest reading in the past 12 months for this sector, indicating that growth is still quite strong.
A complete index including results from the manufacturing and service sectors, along with the methodology, is here:
The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy.
Contact: Norma Heim, NACM
### Press Release ##############################################
DVI Announces Failure to Make Interest Payment
JAMISON, Pa.--3--DVI, Inc. (NYSE:DVI - News) announced that it will not make the scheduled interest payment due today on its 9 7/8% Senior Notes due 2004. Under the terms of the Indenture governing the notes, the failure to make the interest payment may be cured by DVI within 30 days.
DVI's inability to make the interest payment due on the notes is a result of the severe liquidity constraints DVI is currently facing. DVI's liquidity began to tighten as certain of its lenders reduced advance rates following the announcement of credit rating downgrades. DVI's liquidity problems were further exacerbated as the result of a shortfall in the amount of qualifying collateral supporting its borrowings under its principal bank lending facility. The shortfall has triggered a default under the facility. DVI is currently in discussions with its bank lenders to resolve these issues.
DVI intends to consider all alternatives available to it to secure funds to make the interest payment due on the notes and improve its liquidity. DVI and its financial advisors had already commenced discussions with various prospective lenders and other sources of funding and has received several proposals for both short term and long term solutions. However, there are several conditions that must be met to conclude these transactions, including completion of due diligence and negotiation of mutually acceptable documentation. No assurances can be provided that any of the transactions contemplated will be consummated in the next 30 days or at all. Even if DVI is able to complete a limited short term financing transaction of the type discussed with certain potential lenders, it will face significant future challenges, including the need to refinance or re-negotiate various credit agreements.
The failure of DVI to obtain additional funding or resolve the defaults with respect to its bank lending facilities and notes could have a serious adverse effect on DVI's business and on the value of DVI's debt and equity securities.
DVI is an independent specialty finance company for healthcare providers with $2.8 billion of managed net financed assets. DVI extends loans and leases to finance the purchase of diagnostic imaging and other therapeutic medical equipment directly and through vendor programs throughout the world. DVI also offers lines of credit for working capital backed by healthcare receivables in the United States. Additional information is available at www.dvi-inc.com.
John F. Schoenfelder, 877-219-1001
### Press Release ########################################
American Bank Welcomes New Talent, Unveils New Commercial Banking Service
American Bank announces the appointment of Paul Odlaug as Vice President,
commercial banking, leasing specialist.
"We are excited to unveil another valuable American Bank business banking
service," said John Seidel, President. "The leasing department complements our
other services - such as the recently-added Wealth Management division - and
allows us to offer our customers more."
Paul comes to American Bank with over 25 years of experience in the equipment
finance and leasing industry. Paul has been involved in all aspects of equipment
financing and leasing - from selling financing and leasing, to marketing,
portfolio management, pricing, pooling of lease transactions, syndicating
structures and transactions, and lease administration. His experience ranges
from large multinational corporations like GE Capital and Citicorp to small,
independent firms. While at Industrial Credit, Paul developed a finance and
leasing program for the machine tool industry that was used nationally.
"At American Bank, I have the opportunity to build a service from the ground
up, based on my years of experience," said Paul. "American Bank is a perfect
size - small and agile enough to implement new ideas and services as the market
demands, and large enough to be a stable force in Twin Cities banking."
About American Bank: Created in 2002 through the merger of Midway and Dakota
Banks, American Bank has quickly become a trusted, familiar name in St. Paul.
Committed to the community, they recently received an outstanding rating from
the CRA (Community Reinvestment Act), which encourages financial institutions to meet the credit needs of the communities in which they operate. American Bank is the largest independently-owned bank headquartered in the Twin Cities metro area with several offices in St. Paul and its surrounding communities. Visit American Bank online at: www.americanbankmn.com.
Sites of Reference:
American Bank, St. Paul
Phone Number: 651-643-8426
#### Press Release ###########################################
Computer Sales International, Inc. Appoints New CFO's
St. Louis, Missouri - Computer Sales International, Inc. (CSI) is pleased to announce the joint promotions of Frederick O’Neal and J. Philip Cagney to the role of Executive Vice Presidents and co-CFO.
“CSI has enjoyed tremendous growth under the guidance of these two outstanding individuals,” stated Bill Gillula, President and Chief Operating Officer. “Fred and Phil have played pivotal roles in building our reputation of providing unparalleled service and flexibility. Sharing their collective knowledge in the role of CFO extends the strength of our executive management team well into the future.”
J. Philip Cagney has been employed with CSI since 1986, when he joined the company as an Executive Administrative Assistant, growing to his appointment last year to Executive Vice President. In his new role as EVP and co-CFO, Mr. Cagney will continue to oversee lease pricing, portfolio management, transaction finance and operations. Holding both Bachelor’s and Master’s degrees in Chemical Engineering, Mr. Cagney also earned an M.B.A. from Washington University and has held positions with Monsanto Company and Eli Lilly & Company.
Frederick O’Neal joined CSI in 1990 as Vice President and Treasurer, after serving as President of Mark Twain Leasing, and most recently served as CSI’s Senior Vice President and Treasurer. Mr. O’Neal is a Certified Public Accountant, holds a B.S. degree in Accounting from the University of Illinois and an M.B.A. from Washington University. As Executive Vice President and co-CFO, Mr. O’Neal will oversee financial statements, accounting, tax, contract processing, billing and accounts receivable.
CSI is one of the largest independent computer leasing specialists in the world, with operations in the US, Canada, Mexico, Brazil, Central America, Germany and the United Kingdom, generating annual revenues in excess of $500,000,000. More information on CSI is available at www.csileasing.com.
Sites of Reference:
Computer Sales International, Inc.
Phone Number: 314-810-8979
Fax Number: 314-997-7852
### Press Release ###########################################
by Christopher Menkin
.Each of the major associations leadership is responsible for the decline in membership.
As John Deane of the Alta Group so well wrote in 2001 about leadership in
“The Perfect Storm,” ( http://www.leasefoundation.org/pdfs/perfectstorm.pdf) it also applies to the fraternal and professional “clubs,” who’s membership has declined for over two year. It’s not consolidation or GE Capital buying all the major leasing companies ( actually the portfolio’s , not the companies and employees, as US Leasing went from 186 to 6 and Colonial Pacific Leasing is similar...that’s another story similar to larger banks buying smaller banks.)
Are leasing associations a “club?” Some aspects, yes. Leasing
Associations fulfill a purpose, whether you agree or don’t agree.
They represent your “business” as no chamber of commerce can;
to your colleagues, to your customers, to Washington ,D.C., and
various state capitals, and more importantly, perhaps, provide
a place to exchange ideas and information.
In the last two consecutive years, four of the five major national equipment leasing associations lost membership.
AGLF EAEL ELA NAELB UAEL
The National Association of Equipment Leasing Brokers (NAELB---pronounced Nah-elb) gained, 45 in 2002. The Association of Government Leasing and Finance lost the most then, 111, not counting its executive director. It changed its leadership, Jorie Lagerwey was replaced by Graham Hauck.
This year, the Equipment Leasing Association lost the most to date: 80 members from June to June. It was planned. At the start of the demise in the leasing industry as evidenced by the Leasing News List, the leadership decided to re-define their role, their identity, and formed a special “task force.”
Perhaps foreseeing the coming changes in the industry, ELA leadership
decided to look at itself, its role, and the timing could not have been
better. As the National Association of Equipment Leasing did, they
planned their future. The three other associations reacted to it.
Among the several changes that were made, perhaps the more “controversial”
was raising the minimum dues to $2200, and creating a minimal fee for members who were active with a company that merger, been purchased, or is no longer in
ELA President Michael Fleming summed it up:
“There are 177 members in the category that currently pays $1,200 in dues - about 35% of the regular members. They pay 11% of the total dues."
According to Michael Henderson, director of ELA membership and marketing,
the June, 2003 breakdown was:
“In the dues category (that was adjusted to $2200) we have 140 that did not renew for 2003 (compared to 57 in 2002),” Henderson added.
That’s $168,000 out of your “gross income.”
To look at an association from a “body count” appears to be misleading, especially
in this instance. While this financial loss may indicate a major concern, but in reality, services have improved, more features have been added, more news, involvement in key projects such as “Capital Hill” and the list serve has never been
as active with great leads, communication, and information.
The major leasing corporations appear to be have more attention to their
needs being addressed, and therefore appear more interested than before.
The staff is more responsive; committees appear to functioning, and more members are getting involved. There even appears an undercurrent to expand into
foreign leasing marketplaces, such as Europe and elsewhere. All the members
are receiving better benefits for the dollar they spend on belonging to ELA.
“The Equipment Leasing Association exists to promote and serve the
general interests of the equipment leasing and finance industry by
providing programs of benefit to the industry and its members; providing
information, education and communications to the membership and the
public; leading in the resolution of general industry problems, and
promoting high standards of business practices within the industry.
“ELA's most valuable main offerings are:
* Business Development Opportunities
* Industry Information
* Professional Development & Competency
* Industry Advocacy
* Access to Capital
“Most important, ELA is a strong and healthy trade association because it
remains true to its mission.
“For ELA programs to be of maximum value to the membership, each member
company must impart value through participation and involvement.
Director, Membership & Marketing
Equipment Leasing Association
4301 N. Fairfax Drive, Suite 550
Arlington, VA 22203
703.527.8655; Fax: 703.527.2649
The National Association of Equipment Leasing Brokers leadership
actually planned their role earlier than ELA. In May, 2000 they
let go their very popular executive director Cindy Spurdle.
The membership was livid. The reality was not her performance.
Remind you, she worked for the United Equipment Leasing Association
for a time being, and it was talked at one time she would be the
executive director ( but she didn’t want to move, many said.) She
now works supporting the executive director of the Eastern
Equipment Leasing Association and as director of the Certified
Leasing Professional Foundation.
The board didn’t like the direction, acquiring assets, setting up an
office, looking like their were re-building a UEAL type organization.
Their goal was to have very low membership dues to attract new
members, to continue to hold meetings at inexpensive hotels,
not promote golf, and have members not only vote from the floor
for directors but to get directly involved in the conferences.
A professional management organization would be more effective,
they decided, and the goal was to keep the costs low.
NAELB has the lowest rate to join. All brokers can join for $295 a year
and get all the full benefits. There has always been controversy whether
“funders” should join, and while they may, they don’t have any voting
rights and pay a larger fee to mingle with potential sales sources.
Perhaps the major change is the involvement of ex-UAEL and current
UAEL members, such as the former UAEL membership chairman
Ginny Young serving on the conference committee or CLP champion Bob Teichman, who currently is on the UAEL board, serving on the same committee.
In Leasing New’s 2002 survey, we found many belonging to two leasing
associations. You will see from the email that follows part 1 that many
belong to three leasing associations, plus most funders belong to at least
four. For years, active UAEL directors were also active directors or
committee chairman for ELA.
“A few years ago we went to a January 1 billing system for our membership, “explains NAELB President Bob Bell as the reason for the June to June
“In an effort to make membership even more affordable (I don't know how you
can get much more affordable than $295.00 a year) we adopted a mid year
membership of $150.00. This means anyone wishing to join can get all of
our benefits ($7.95 for overnight letters with no weight limit, $2.00
credit reports, .039 per minute long distance, $1.00 BusinessCreditUSA
reports, access to the online leasing forum, legal support, and many
more) for this reduced priced.
“The credit reports for $2.00 is an NAELB exclusive and is formatted
expressly for leasing professionals. It contains a "quick look"
summary, scoring model, 24 months of inquiries, online directory, and
much more relevant information. All for two bucks!
“If anyone wishes to join our merry band of men and women they can e-mail
Tammy Marsh at firstname.lastname@example.org. We hope to have 500 by the end
of the year.
Total -437 members”
“I thought I would give you a heads up on the up coming NAELB Summer
Board of Directors meeting," Bob Bell e-mailed recently " Every year we meet for a weekend in the summer at the facility where we will be holding our next Annual
Conference. The 2004 conference will be at the Alexis Park Hotel in Las
Vegas April 29-May 1. This is an all suite hotel and we have negotiated
very reasonable rates. The decision to have it in Las Vegas reflects
how universal our membership has become, as we now have as many West
Coast members as we do in the Southeast.
“Here are a few examples based on the survey:
. 69% of our member companies have been in business over 5 years. The geographic breakdown goes like this:
West Coast 24%.
86% use the internet daily.
59% responded that they were highly or moderately involved in financial package transactions.
“This is certainly not the ‘old NAELB’.
“This year we've added an extra day (in Las Vegas) to allow Cal Clemons, owner of our
management company, to give us the benefit of his three decades of
Association Management expertise by conducting a strategic planning
session. This was the idea of our former President Gerry Egan and was
scheduled last fall. What a concept, planning in advance for a
strategic planning session! After Cal's intensive 8 hour interactive session, the Board will examine in detail the 56 pages gleaned from the survey and make long range plans based on our member's responses.
“We will be announcing shortly our Fall Regional Meetings. After the
incredible success last year with our meeting in Marina del Rey with
over 120 attendees, we have decided to have two this year. The West
Coast Regional will be in Irvine on September 19-20 and Atlanta on
November 7-8, 2003
College Park, Georgia
Agenda and more information available at:
Certainly, NAELB is no longer your grandmother’s automobile. They
Tomorrow: The three leasing association who “reacted.”
Leasing Association Comments from Readers:
I personally think anyone big or small, who does not belong to at least
one Leasing Association is crazy. It's no different than any other
professional who needs to have their skills honed and upgraded at least
once a year. I feel this certainly is true for funders and brokers
As a charter member and Past President of the NAELB, I have found that
membership to be invaluable. You get to know others in the industry and
you get to be known. Hopefully you will be known and respected by many
folks who can help you succeed, as well as being in a position to help
others learn, grow and prosper.
It's a wonderful two-way street to be strolling and/or running down,
when suddenly you need help or advice in your business. It's also nice
to make friends with peers who are not potential competitors so you can
freely share information. My company was blessed last year and able to
double our business. It was almost embarrassing to talk to other folks
who were crying the blues about how bad things were. We are continuing
this year with another 20% growth in the first 6 months. Without the
things I learned and the people I met in the NAELB, none of that would
have been possible. Thanks and hats off to the NAELB Founders and the
hundreds of you that continue to support that organization.
For any of you that don't agree with the way any of the Associations are
being run or the directions they are taking, feel free to contact their
officers and board members and discuss your views. Better yet, find out
how you might assume a leadership role within the Association if you
feel you have talent and ideas to offer. Be a participator, now a
complainer! Be a winner, not a whiner!
Ciao and best of luck to all of you!
Adirondack Leasing Associates Ltd
PS Sorry Kit, I couldn’t shorten this up! There's just too much good to
say that really has to be said! ---
On the subject of Associations...Boston Financial & Equity belongs to the
ELA, EAEL, UAEL, CFA (Commercial Finance Association), TMA (Turnaround
Management Association),ELFF(Equipment Leasing & Finance foundation), ACG
(Association for Corporate Growth) and the MIT Enterprise Forum.
As Randy Haug said it...belonging to an association should be considered a
marketing and sales tool..not an expense as such. We have made valuable
contacts from each association. I have sourced new deals, made new friends,
used many an attorney, equipment appraisers/auctioneers, bank contacts,
received advice, asked advice, educated myself as well as my employees,
received the benefits of government lobbying efforts, UCC information, new
legal developments...etc etc etc. Why would anyone NOT belong?
To take it a step further..I am on the boards of 3 of these organizations
and have enjoyed every minute of it. Yes, its takes some time out of my
schedule but it is worth the time and money. Not only have I been able to get to
know a great group of people in a smaller setting...I get to give back to
the industry and am able to put my 2 cents in (which most times is more than
just 2 cents)...why just sit back and let everyone else do the work? Think
about not just joining...but joining a committee..you may find it's actually
fun and enjoyable.
Deborah J. Monosson
BOSTON FINANCIAL & EQUITY CORPORATION
20 Overland Street
Boston MA 02215
I work for a large finance company and I am sure they have
corporate leasing association memberships, although they want
us to be more active in trade organizations... construction.
I think a connection to your target industry is very
important. When I serviced the electronics industry I joined
the SMTA( Surface Mount Technology Association ). I became
the chapter president for 3 years. It was a big boost for my
career. I am now a member of the AGC.
There is only so much time for organizational work. I think
the big choice is whether to be very active in a targeted
trade industry or leasing organization. Maybe a better option
is to be somewhat active in both.
Given the state of the leasing industry, it is important to
at least receive leasing industry news sources such as The
Monitor and Leasing News.
phone number: 408/997-2456
fax number: 408/927-8069
Regarding today’s leasing associations…
The promotion of “education, fellowship, and betterment of one’s
occupation”, might be a just and noble cause; however, my 35 years (I
told you I was a “Jurassic Lessor”!) in this industry have primarily
been motivated by my desire to make money.
I have long supported our industry associations, but I do think they
have lost sight of the real mission. I founded the Lessors Network to
accomplish one simple objective, to provide a forum for the proactive
participants in our industry to identify new business opportunities. We
leave the education, political action committees, etc, to the
associations, and I think they’re doing a good job, but I can’t remember
the last time I found a real business opportunity at one of their
I don’t know about the rest of you, but I’m interested in closing deals
and making money. After that I'll play golf. Remember, it’s all about
The Last Capitalist (grin)
The Lessors Network
( More reaction tomorrow )
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posted daily on our website--- http://www.leasingnews.org/contact_us_news.htm
Bond Prices May Fall, but the Market Can't Really Crash
As interest rates rise, bond mutual funds pummeled
Market for Guaranteed Bonds Shriveling
Prepayments set for slowdown in the fall
Why rates leaped for business mortgages.
New tax laws changes stock option strategies
Redskins re-sign QB Wuerffel
Stram's taped speech highlights Hall enshrinement
Terrell Davis: "I've Pretty Much Moved On"
Emmitt rips Cowboys in Sports Illustrated article
NFL changes rule on removing helmet http://www.cleveland.com/browns/plaindealer/index.ssf?/base/sports/1059816798160790.xml
Tyson's finances down for the count, Files Chapt. 11
This Day in American History and Two French Events---
1693 - It is believed that a monk named Dom Perignon invented champagne at the Benedictine Abbey of Hautvillers in the region of Champagne, northern France. He made the first champagne by re-fermenting a certain wine in the spring and then placing it in strong, sealed bottles so that the wine would become sparkling. Dom Perignon was the Cellar master for 47 years until his death in 1715. The sparkling wine was crude and perhaps the first one to produce what we drink today was Mme. Nicole-Barbe Clicquot, who developed the sur pointe process that clarified the sediment out of sparkling wines. She was also an astute business person, especially in a day that women did not run business. Nicole Barbe Clinquot was the daughter of the mayor of Reims who at 20 was widowed with a daughter after three years of marriage to a vintner. She vowed to carry on her husband's business. She developed the process of remuage (moving) in which the bottles of wine are stored upside down (on their corks or sur pointe) and then the bottles are shaken periodically and then rotated to force the sediments in the wine to settle down on the cork. After a certain period, the cork is quickly removed, the sediment is expelled by the wine gases and then the bottle is quickly re-corked. The widow Clinquot also invented pink champagne. My favorite in Louis Roederer, but a Grand Madame Clinquot, now that is a fine sparkling wine!
Here is a secret. You can serve “Champagne” with everything. If you cannot
match a wine to a food, serve “Champagne.” Next, a very good beer. Don’t
laugh, some fine beer goes with everything ( especially if it is “fresh.”)
1735 - Freedom of the press was established in the United States when John Peter Zenger, publisher of the New York Weekly Journal, won an acquittal of the libel charges placed by Gov. William Crosby. The royal governor had tried to censor Zenger's attacks on the British crown.
1753 - George Washington became a Master Mason.
http://memory.loc.gov/ammem/today/aug04.html1790-U.S.Coast Guard founded.
1810-Birthday of abolitionist Robert Purvis. He ran all the Underground Railroads from his home and was the founder of the American Leasing Anti-Slavery Society.
1830- Plans for the city of Chicago laid out.
1838-Emancipation of slaves in the Bahama’s and Grenada this day by the British . A rumor started in the South that salves would try to escape to the Bahama’s and fear of this lead to stricter attitudes and positions of slavery, especially by the many large slave owner who relied on the “free” labor at their farms, called plantations.
1873- While protecting a railroad survey party in Montana, Custer and his 7th Cavalry clash for the first time with the Sioux Indians, who will defeat them three years later at Little Big Horn. During the previous two years, Lieutenant Colonel George Armstrong Custer and his 7th Cavalry had not fought a single battle against the hostile Indians of the western Plains. Hungry for action, Custer was pleased when the 7th Cavalry was ordered to help protect a party of surveyors laying out the route for the proposed Northern Pacific Railroad. The new transcontinental railroad (the third in the United States) was to pass through territory controlled by hostile Sioux Indians. Custer was optimistic that the assignment would give him a chance to improve his reputation as an Indian fighter. Initially, the military escort saw little action. The hostile Indians seemed to be avoiding or ignoring the survey party. For Custer, the mission turned into something of a lark. He spent much of his time shooting buffalo, antelope, elk, and other animals. To find good hunting, he often led the 7th Cavalry far away from the survey party and the main body of the military escort.
On this day in 1873, Custer was far ahead of the rest of the force, camping along the Tongue River in southeastern Montana. Suddenly, a large band of Sioux warriors appeared on the horizon and attacked. The Indians were led by Crazy Horse and Sitting Bull, but the young braves seemed to have attacked impetuously and with little planning. Custer, who had been taking an afternoon nap, reacted quickly and mounted an effective defense. After a brief skirmish, the Indians withdrew. Since only one soldier and one Indian were killed in the skirmish, Custer's short battle along the Tongue River seemed relatively insignificant at the time. However, Custer's easy escape in his first encounter with Sitting Bull and Crazy Horse may have given him a dangerously scornful view of their fighting abilities. It helped to confirm his belief that the Plains warriors tended to flee rather than fight. As a result, when Custer again encountered Sitting Bull and Crazy Horse at the Little Big Horn River three years later, his greatest fear was that they would withdraw before he could attack, and he rushed in without proper reconnaissance. That time, though, the Indians stood and fought, leaving Custer and more than 200 of his men dead.
1874 -Methodist clergyman John H. Vincent (1832-1920) and Ohio manufacturer Lewis Miller established the Chautauqua Assembly in northwest New York state a summer retreat center combining recreational activities with the training of Sunday School teachers and other church workers.
1875 - The first Convention of Colored Newspapermen was held in Cincinnati, Ohio. The convention's aim was to promote the establishment of United States newspapers that would focus on the African American community.
1881- 122ř F (50ř C), Seville, Spain (European record)
1897-Blackman Henry Rucker appointed Collector of Internal Revenue for Georgia
1900-Louis Armstrong, Jazz musician extraordinaire born at New Orleans, LA. Died at New York, NY, July 6, 1971. Perhaps the greatest jazz trumpet player
who ever lived. Asked to define jazz, Armstrong reportedly replied, "Man, if you gotta ask, you'll never know." The trumpet player was also known as Satchmo. He appeared in many films. Popular singles included "What a Wonderful World" and "Hello, Dolly" (with Barbra Streisand) and “High Society.” Two of my favorite
albums are “Armstrong Plays W.C. Handy” and “Ella and Louis.”
Best Louis Armstrong Vocal:
My favorite single Armstrong Album:
1904-Trumpet player Bill Coleman birthday, Centreville, KY1904-pianist/alto sax/trumpet player Kenneth Anderson born Pittsburgh, PA
1905- Piano player Joseph Louis “Red” Cayou born New Orleans, LA"
, LA Died May 12, 1994.
1910-Birthday of American composer William Howard Schuman who won the first Pulitzer Prize for composition and founded the Juilliard School of Music, born at New York. His compositions include American Festival Overture, New England Triptych, the baseball opera The Mighty Casey and On Freedom's Ground, written for the centennial of the Statue of Liberty in 1986. He was instrumental in the conception of the Lincoln Center for the Performing Arts and served as its first president. In 1985 he was awarded a special Pulitzer Prize for his contributions. He also received a National Medal of Arts in 1985 and a Kennedy Center Honor in 1989. Schuman died at New York City, Feb 15, 1992.
1916 - Denmark agreed to cede the Danish West Indies, including the Virgin Islands, to the United States for $25 million. The deal took effect the following March 31.
1919-Birthday of Glenn Clarence Cunningham, the "Kansas Ironman," American track athlete and 1934-37 world record holder for the mile, member of the US Olympic teams in 1932 and 1936, was born at Atlanta, KS. On June 16, 1934, at Princeton, NJ, Cunningham set a world record for the mile (4:06.7 min). Cunningham died at Menifee, AR, Mar 10, 1988.
1920- Birthday of Helen Thomas - U.S. journalist.. One of nine children of Lebanese immigrants who arrived in the U.S. with $17, she worked her way through college. Her parents ran a grocery store. Her parents kept the accounts in their heads because they could not read or write. Like typical immigrants who wanted a better life for their children, they encouraged Helen Thomas and all of her sisters and brothers to get an education She went to Washington, DC got a job for the-then United Press (later United Press International) to write women things for radio but her ambition and willingness to work on her own enabled her to move up to covering the Justice Department, various government agencies, even Congress. After covering, mostly on her own, the newly elected John Kennedy, she began attending White House press conferences, also on her own. She was promoted to White House correspondent in 1970 just in time for the Watergate scandals. She was the only member of the print media to accompany President Nixon on his noted trip to China in 1972. She became bureau chief in 1974, the first woman to ever hold such a post with any news service. She made friends with Martha Mitchell, the wife of Nixon's attorney general John N. Mitchell who was jailed for his involvement in the Watergate break-in cover-up. Martha Mitchell, in late night phone conversations, confided to her suspicions and outrage over the Watergate incident and attempts to hide it.
A determined feminist, she forced the National Press Club to "allow" women journalists to attend the luncheon that would be address by visiting Soviet premier Nikita Khrushchev. Thomas later became an officer with the Press club and would become president of the Gridiron Club, an exclusive press organization.
Her questioning of presidents, demanding that they be held accountable made her many enemies, but she was seen as one of the most reliable reporters in Washington. Because of her Lebanese ethniticity, she was accused of being pro-Arab, which she was not. Such as charge of prejudice was never made towards any male reporter no matter what their religion, ethnic background, or social connections were. Because of her seniority, she had the singular honor of being the regular whose dignified "Thank you, Mr. President" signaled the end of White House press conferences. But before the honored phrase, she was known to ask devastating and perceptive questions of all eight of the presidents she reported on. She was tough, shrewd, and always fair gaining respect from all of the eight presidents she made squirm with her no nonsense questions. She was one of the few reporters who sought answers rather than positioning themselves for promotions. When UPI was sold in May 2000 to a communications corporation with ties to the Unification Church that owns a right-wing newspaper, MT, 79, said she'd step down. She said she intends to write a book, may syndicate a column, and give speeches. "Presidents come and go, but Helen's been here for 40 years now, covering eight presidents and doubtless showing the ropes to countless young reporters and, I might add, more than a few press secretaries," President Clinton said at her retirement. "Whatever she decides to do, I'll feel a little better about my country if know she'll still be spending some time around here at the White House. After all, without her saying, 'thank you, Mr. President,' at least some o us might never have ended our news conferences," he said.
"Even though she has her own opinion, her reporting is straight down the middle and it's all hard news - none of this analysis and chin-stroking that goes on in journalism today," former White House press secretary Mike McCurry said.
1921-guitarist Herb Ellis born McKinley, Texas
1927 - The General Electric Station in Schenectady, New York, station 2XAG which was later named WGY, began experimenting with operations from a 100,000-watt transmitter. The FCC would later regulate the power of AM radio stations to not go over 50,000 watts on "clear channels" where few stations would interfere with each other.
1927 - For Victor Records in Bristol, Tennessee, singer Jimmie Rodgers recorded his first songs. On the record he sang "Sleep Baby Sleep" and "Soldier’s Sweetheart".
1933-Sax player Sonny Simmons born Sicily Island, Louisiana.
1934 - The first major league baseball player to score 6 runs in one game became Mel Ott today.
1936-"Long" John Woodruff wins an Olympic gold medal in the 800-meter run
1940 - "Crime Doctor" introduced a new radio hero. CBS radio presented Dr. Benjamin Ordway, the show’s main character, as an amnesia victim. A former criminal, he got hit on the head, and began to work as a crime fighter.
1944 - Nazi police found Anne Frank and her family, hiding in secret rooms above her father’s factory in Amsterdam, Holland. Anne was 15 years old at this time and had kept a diary during the two years of hiding from the Nazis. After the arrest, Anne and her sister were taken to a concentration camp. Anne Frank would die at Bergen- Belsen. Later Anne's diary was found and has since been translated into 30 languages, and adapted as both a play and a Hollywood film.
Peg o’ My Heart - The Harmonicats
That’s My Desire - The Sammy Kaye Orchestra (vocal: Don Cornell)
I Wonder, I Wonder, I Wonder - Eddy Howard
Smoke! Smoke! Smoke! (That Cigarette) - Tex Williams
1953-drummer Jeff Hamilton born Richmond, Indiana
1954 - In Saskatchewan, Canada, the uranium rush began.
1954 - Alfred Hitchcock's Rear Window had its world premier at New York's Rivoli Theater.
Rock Around the Clock - Bill Haley & His Comets
Ain’t That a Shame - Fats Domino
Learnin’ the Blues - Frank Sinatra
I Don’t Care - Webb Pierce
1955 - To Catch a Thief, starring Cary Grant and Grace Kelly and directed by Alfred Hitchcock, debuted in New York on this date. The film later received an Oscar for Best Color Cinematography.
1956 - at Wendover, Utah, Wilhelm Herz was clocked at 210 miles per hour, making him the first person to race a motorcycle over 200 miles-per-hour.
1957 - A world record was set by Florence Chadwick who swam the English Channel in 6 hours, 7 minutes.
1957 - Juan Fangio won his last car race, winning the world auto driving championship for the fifth consecutive year.
1958- Billboard magazine introduces its "Hot 100" chart, a list of the 100 best-selling pop singles in the country. This list replaced multiple charts the magazine had previously published, including Best Sellers in Stores and Most Played in Juke Boxes. The first song to top the Hot 100 list was "Poor Little Fool" by Ricky Nelson.
1958- Dumont TV Network crumbles. My father was a producer/writer/director for the Dumont network, creating among shows such as “Harlem Detective,” “Captain Video,” “Hands of Murder.” He met often with Dr. Dumont,
who he once gave one of the exploding cigars I put in his pocket as a
kid. Dumont was a scientist and not a “showman,” losing Jackie
Gleason among others. My father worked right under Ted Bergman,
who I remember my father respected, but Dr. Dumont was not
a businessman ( nor was my father. )
1961- 108ř F, Spokane, WA (record)
1962-Jamaica Independence Day. National holiday observing achievement of Jamaican independence form Britain August 6, 1962. Annually the first Monday in August.
So Much in Love - The Tymes
Fingertips - Pt 2 - Little Stevie Wonder
(You’re the) Devil in Disguise - Elvis Presley
Ring of Fire - Johnny Cash
1964-After disappearing on June 21, three civil rights workers were found murdered and buried in an earthen dam outside Philadelphia, MS. The three young men were workers on the Mississippi Summer Project organized by the Student Nonviolent Coordinating Committee (SNCC) to increase black voter registration. Prior to their disappearance, James Chaney, Andrew Goodman and Michael Schwerner were detained by Neshoba County police on charges of speeding. When their car was found, burned, on June 23, President Johnson ordered an FBI search for the men.
You’ve Got a Friend - James Taylor
Mr. Big Stuff - Jean Knight
Draggin’ the Line - Tommy James
I’m Just Me - Charley Pride
1972 - Superfly, starring Ron O'Neal, opened in theaters. Starring Ron O'Neal and directed by Gordon Parks, Jr., Superfly's success at the box office and unexpected acclaim prompted two sequels. The plot centers on a Harlem drug dealer who wants to retire. Curtis Mayfield's dynamic soundtrack set it apart from similar low-budget films.
Bad Girls - Donna Summer
Good Times - Chic
Ring My Bell - Anita Ward
You’re the Only One - Dolly Parton
1981 - A United States court ordered striking air traffic controllers back to work and fined their union $2.4 million a day for the duration of the strike. 1983 - During warm-ups, New York Yankee outfielder Dave Winfield threw a baseball and accidentally killed a seagull. When the game was over, Toronto police surrounded the batter and arrested him for "causing unnecessary suffering to an animal."
Shakedown - Bob Seger
I Still Haven’t Found What I’m Looking For - U2
I Want Your Sex - George Michael
Snap Your Fingers - Ronnie Milsap
1995- Long time coach Jimmie Reese, whose 23 years in an Angels uniform equals longest in club history is inducted into the Angels' Hall of Fame. The former roommate of Babe Ruth began his career as a batboy for the Pacific Coast League's Los Angeles Angels in 1917.
1995 - Babe, the charming sleeper hit about a pig who learns to be a sheep dog, debuted in United States movie theaters. The gentle film, with state-of-the-art computer technology, thrilled audiences young and old, and the film garnered many awards and nominations, including the Golden Globe for Best Motion Picture - Comedy/ Musical, and it was nominated for a Best Picture Oscar. Veteran actor James Cromwell received an Oscar nomination for Best Supporting Actor for his role as Farmer Hoggett, and director Chris Noonan received the New York Film Critics Circle Awards for Best New Director. The National Society of Film Critics declared it Best Film of the Year. Christine Cavanaugh supplied the voice of the hero pig, and Roscoe Lee Browne was a moving narrator. Babe was based on the book "The Sheep-Pig" by Dick King- Smith.
1997 - The world's oldest person, Jeanne Calment, died aged 122 years and 164 days in Arles, France.