Monday, August 2, 2004
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Classified Ads---Help Wanted
Account Executive / Small ticket leasing account reps
Equipment Finance Sales Executive
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Senior Contract Specialist
Sales Task Force Report
Dennis Brown, Equipment Leasing Association
The Task Force established by the National Conference of State Legislatures (NCSL) to track Streamlined Sales Tax met during the NCSL Annual Meeting in Denver to review progress toward implementation. In many respects it was a prelude to the upcoming meeting of the Conforming States Committee of the Implementing States scheduled to convene in Chicago immediately following the Streamlined Sales Tax Project on Thursday afternoon, August 5 and until about 1 PM on Friday, August 6. This update will review:
• Conforming States Committee
• Federal Legislation
• Internet Quarrel
• Other Issues
Conforming States Committee
A status report was presented to the NCSL Task Force by former Ohio Senate President Richard Finan speaking in his role as Co-Chair of Conforming States Committee. Senator Finan’s update was not only optimistic but demonstrated a considerable amount of work has been accomplished toward establishing a permanent organization to administer Streamlined Sales Tax, which the business community acknowledged as a basic step toward implementation.
Hiring staff and establishing a management structure for the Governing Board that will administer Streamlined Sales Tax faces the proverbial chicken and egg dilemma. These resources are needed prior to formation of the Governing Board to lay groundwork for launching the organization but revenue to acquire them will not be available until after the Board is functioning.
NCSL has joined with the National Governors’ Association (NGA) to fill the financial void by committing needed funds to hire an Executive Director, perhaps in September. One or two additional would be hired later. To meet the transitory need for office space, the Federation of Tax Administrators (FTA) will provisionally house and provide other support services to this newly hired Executive Director. The Multistate Tax Commission (MTC) will pitch in computer system support with the Registration System but not engage in management duties.
The next step would be to incorporate with an early target being January 2005. This would be followed by actual formation of the Governing Board possibly around mid-year with each state joining the Board becoming a member of the corporation. At the start, one of three committees to be formed would be a Nominating Committee to recommend officers for a nine member Executive Committee currently envisioned as consisting of a President, 1st Vice President, 2nd Vice President, Secretary-Treasurer, four regional representatives and one At-Large Member. The other two committees would be Membership and Finance.
At this point an initial fee charged to conforming states as they join the Governing Board will begin to provide a continuous revenue source needed to move the management structure beyond the first phase that was made possible by funds provided by NCSL and NGA. The staff can look for permanent office space in a location selected by the Governing Board. Non-member states will witness a functioning partnership of state governments and perhaps the federal government will realize states can manage best without congressional obstruction.
As always, telecommunications representatives arrived well versed and prepared. The Task Force understood their arguments when adopting a policy statement declaring that imposing higher tax burdens on telecommunications services provided by “telecommunications providers” while imposing lower and even no tax burdens on similar services sold by non-traditional providers unfairly places governments in the position of picking winners and losers in the marketplace. The Task Force adopted a telecom tax reform proposal calling upon state and local governments to refrain from imposing tax burdens that exceed those imposed on other competitive services and the general business community. In the policy statement NCSL calls on state and local governments to bring telecommunications taxes in line with other general business taxes.
The Task Force briefly revisited discussion from the last meeting that arose when Streamlined Sales Tax Project (SSTP) representatives noted the Congressional legislation contains provisions different than similar provisions in the Streamlined Sales Tax Agreement as well as provisions absent from the Agreement. It had been noted that the Agreement between states and Congressional legislation are separate documents negotiated between wholly different parties. Drafting the Congressional bill involved collaboration with organizations disconnected from SSTP meetings. Differences between the documents were therefore anticipated and accepted.
Since that time SSTP representatives have joined with other stakeholders in suggesting and in some cases adopting revisions to the federal legislation. It was this report on discussions between stakeholder groups that subsequently raised objections from some Internet spokespersons.
Realization that Streamlined Sales Tax is becoming reality has caused Internet players to be more assertive and revisions in the Small Business Exception were an issue that caused them to raise their voice. An earlier draft allowed the exception when a seller and its affiliates collectively had no more than $5,000,000 in remote taxable sales in the preceding year but had been amended to no more than $5,000,000 in gross sales. However, more than $50,000 in remote sales sourced to any single state would trigger a requirement to collect and remit sales and use taxes for that Member State.
What quickly became referenced as the Amazon Amendment was opposed by other Internet interests. A counter presentation began to unravel when Task Force members refuted declarations by EBay of assistance given sellers to collect sales tax and EBay assertions that the revised language would force single moms to face child day care challenges.
Some questioned if Section 4 (e) of the report on federal legislation might involve classified advertisements in newspapers in the Small Business Exception. That section deals with buyer or seller collectives where a seller is considered to participate in such a collective if the seller lists products that are aggregated.
A useful review of federal legislation occurred during a discussion with Congressman Chris Cannon, Chairman, Subcommittee on Commercial and Administrative Law, Judiciary Committee. Perhaps the most enlightening moment was his comment that congressional action is likely during the next session.
The Task Force also heard updates on bundling issues and the sales price definition. A discussion of how the Agreement impacts American Indian Tribal Governments was instructively conducted with the Reno-Sparks Tribal Council of Nevada. Finally, it was interesting to hear a Republican legislator protest the scheduled appearance of conservative activist Grover Norquist of the Americans for Tax Reform on the program of the NCSL Annual Meeting.
Equipment Leasing Association
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1st Source Corporation up 85.88 Percent in 2nd Quarter,
Increased Dividend Announced
SOUTH BEND, Ind.--( --1st Source Corporation (Nasdaq:SRCE), parent company of 1st Source Bank, today reported net income of $8.72 million for the second quarter of 2004, up 85.88 percent over the $4.69 million reported in the second quarter of 2003. During the first six months of 2004, net income for 1st Source Corporation was $13.80 million, a 50.79 percent increase over the $9.15 million reported for the same period in 2003.
Diluted net income per common share for the second quarter of 2004 amounted to $0.42, up 90.91 percent compared with $0.22 reported in the second quarter of 2003. Diluted net income per share for the first two quarters of 2004 was $0.66, an increase of 53.49 percent over the $0.43 reported in the same period a year ago.
Earnings for the second quarter of 2004 represent a return on average common shareholders' equity of 11.03 percent, as compared to 5.95 percent for the second quarter of 2003. Return on average total assets for the second quarter of 2004 was 1.08 percent versus 0.57 percent reported in the second quarter of 2003.
Christopher J. Murphy III, Chairman and Chief Executive Officer, reported that at the July meeting, the Board of Directors approved an increase in the cash dividend for the second quarter to $0.11 per share from $0.10 per share last quarter. This is a 10.00 percent increase from the previous quarter's dividend and a 22.22 percent increase over the second quarter dividend of 2003. The increased cash dividend is reflective of the improving performance of the company and will be payable on August 16, 2004, to shareholders of record August 9, 2004.
Mr. Murphy commented, "1st Source's financial performance continues to improve. We have worked diligently to strengthen our credit quality which has shown steady progress over the past year. We are still affected by decreased interest margins and volatility in the valuation of our mortgage servicing rights portfolio, but this quarter that volatility had a positive effect."
Murphy concluded, "We have also continued to look for opportunities to grow our customer base and opened a new banking center on South Bend's south side in April. We continue to review and upgrade our systems and processes to help us provide outstanding customer service and better manage our businesses."
1st Source's reserve for loan losses as of June 30, 2004 was 3.14 percent of total loans compared to 3.22 percent at the end of the first quarter of 2004 and 3.01 percent for the second quarter a year ago. 1st Source's provision for loan losses was $0.48 million this quarter compared to $4.90 million for the second quarter of 2003. Net charge-offs were $0.48 million for the second quarter 2004 compared to $6.48 million for the second quarter of 2003. The ratio of nonperforming assets to net loans and leases was 1.22 percent on June 30, 2004, compared to 2.65 percent on June 30, 2003.
Tax-equivalent net interest income was $26.02 million for the second quarter of 2004, down 5.41 percent from 2003's second quarter. The net interest margin was 3.45 percent for the second quarter of 2004 versus 3.66 percent for the same period in 2003. For the first six months of 2004, tax-equivalent interest income was $52.49 million compared to $54.82 million for the first six months of 2003, a decrease of 4.24 percent. The net interest margin was 3.49 percent for the six months ending June 30, 2004, versus 3.69 percent for the same period in 2003.
Noninterest income for the second quarter of 2004 was $20.22 million, down 7.74 percent from the second quarter of 2003. In the second quarter, equipment rental income decreased due to the shrinkage of the operating lease portfolio, while other income decreased with the elimination of securitization income, as 1st Source no longer securitizes any of its loan portfolio. Trading security income also declined in the second quarter. Mortgage banking income increased in the second quarter of 2004 compared to a year ago as mortgage servicing rights impairment recoveries of $3.78 million offset both a reduction in mortgage origination volume and reduced gains on the sale of mortgage loans into the secondary market.
For the first six months of 2004, noninterest income was $34.24 million, down 18.39 percent from 2003. Significant items affecting comparability between six month periods included decreased income from mortgage banking, equipment rental, securitization and securities trading.
Noninterest expense was $31.95 million for the second quarter of 2004, compared with $37.28 million for the second quarter of 2003. For the first six months, noninterest expense was $64.29 million, compared with $72.08 million for the same period in 2003. In general, noninterest expense improvements in 2004 reflect decreases in salaries and employee benefits expense, depreciation on leased equipment, and loan collection and repossession expenses partially offset by an increase in professional fees which are included in other expense.
As of June 30, 2004, the 1st Source common equity-to-assets ratio was 9.50 percent compared to 9.63 percent a year ago. Common shareholders' equity was $314.94 million, down 0.70 percent from the $317.17 million a year ago, due to the repurchase of 103,733 shares of common stock and a decrease of $10.51 million in accumulated other comprehensive income. The decrease in accumulated other comprehensive income was a result of changes in unrealized gain or loss on securities in the available-for-sale portfolio. Total assets at the end of the second quarter of 2004 were $3.32 billion, up 0.63 percent from the same time last year. Total deposits were down 9.79 percent and total loans were up 6.27 percent over the comparable figures at the end of the second quarter of 2003.
1st Source is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. While delivering a comprehensive range of consumer and commercial banking services, 1st Source Bank has distinguished itself with highly personalized services. 1st Source Bank also competes for business nationally by offering specialized financing services for private and cargo aircraft, automobiles for leasing and rental agencies, medium and heavy duty trucks, construction and environmental equipment. The Corporation includes 61 banking centers in 15 counties, 6 Trustcorp Mortgage offices in Indiana, Ohio and Michigan, and 22 locations nationwide for the 1st Source Bank Specialty Finance Group. With a history dating back to 1863, 1st Source Bank has a tradition of providing superior service to customers while playing a leadership role in the continued development of the communities in which it serves.
CONTACT:1st Source Corporation Larry Lentych, 574-235-2702 Andrea Short, 574-235-2348
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Fitch Rates Los Angeles County Capital Asset Leasing Corp. 'A'
SAN FRANCISCO--Fitch rates Los Angeles County Capital Asset Leasing Corp., CA's $12,205,000 lease revenue bonds, 2004 series A (LAC-CAL Equipment Program) 'A'. The Rating Outlook is Stable. The bonds will be sold competitively on Aug. 3.
The rating reflects Los Angeles County's (the county) economic diversification, recovery from a mild recessionary downturn, and improved financial controls and performance. However, financial operations remain narrowly balanced and pressures continue, particularly in the Department of Health Services (DHS). Restructuring efforts have reduced medical service costs, but sizable budget gaps remain. Lease features are strong and the county's experience with the equipment program is positive.
Certificates are secured by county lease payments made for use of numerous pieces of equipment by several departments. Lease features are sound and the county's equipment lease financing program has a strong history. The leased equipment is essential to service delivery and all equipment currently is in use. The county covenants to budget and appropriate for the lease payments, and other features are similar to that of real property leases.
The county's adopted fiscal 2005 budget incorporates little growth and salary increases recently settled. However, no agreement has been reached with the deputy sheriffs group. The general fund budget reflects savings from lower caseloads in many social service programs offset by the salary increases and natural growth in other expenditures. The general fund budget is balanced using all of the estimated fiscal 2004 unallocated fund balance ($456.7 million), although the county historically performs better than budget. Adhering to the budget's austere spending plan will require strong fiscal discipline, which to date has been evident.
Fitch views the county continuing struggle to restructure of its extensive health and hospital system as its greatest challenge. Board-approved actions including the closing of several facilities and inpatient bed reductions at others have been litigated, with the courts issuing temporary injunctions prohibiting any facility changes while the cases are pending. The county's fiscal 2005 budget fully funds all facilities as currently configured. Recent estimates reduce the projected health department operating deficit in fiscal 2008 to a still sizable $740.1 million operating deficit by fiscal 2008 if no action is taken. However, health system revenues are enhanced by county voters' approval of Measure B, a parcel tax dedicated to emergency and trauma medical care. Despite the board's determination to bring the sizable network under fiscal control, achieving self-sufficiency for the system will take continued diligence over several years. The county's ability to restructure its health care delivery system to operate within available and recurring resources will continue to be a sizable challenge, and a key component of credit quality.
Overall, the county has made significant progress toward long-term financial stability in non-health areas. The general fund has run operating surpluses for each of the last seven years. The total ending general fund balance was $1.70 billion in fiscal 2003, a good 15.8% of the year's $10.75 billion in expenditures and transfers out. The unreserved portion also was sound at $1.35 billion or 12.5% of spending. While an operating loss is expected for fiscal 2004, the ending fund balance is expected to remain adequate.
The county's economy is vast and performed relatively well during the recent downturn. Total employment dropped a small 2.1% from 2001-2003, with signs of recovery evident. The unemployment rate peaked at 7% in 2003, with the June, 2004 figure, 6.7%, lower than June 2003. Taxable property values continue to grow, rising 8.1% on average since 1999. The economy's size and the strength of its major industries, tourism, entertainment, and manufacturing, will continue to provide a sound base.
CONTACT:Fitch Ratings Amy S. Doppelt, 415-732-5612 (San Francisco)
James Jockle, 212-908-0547 (Media Relations, New York)
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Federal Reserve “Beige Report”
The Philadelphia, Atlanta, Chicago, St. Louis, Minneapolis, and Dallas Districts characterized growth rates as ranging from modest (Minneapolis) to solid (Chicago), while New York, Cleveland, Richmond, Kansas City, and San Francisco noted that growth rates slowed somewhat in their districts. Boston cited mixed reports from its business contacts. Reports of rising prices at the producer level continued to be common, though increases in retail prices were only infrequently reported. While wage gains remained generally flat, benefits costs continued to rise.
Retail sales were widely cited as having slowed; in particular, most districts reported that auto sales were flat to down. Manufacturing activity increased across the country, though there were pockets of weakness and gains were generally more measured than in the early spring
By Federal Reserve District
Officials: U.S. Banking System Protected
Recent Layoff Rate Was Highest Since Early 1980's
Bill Would Raise Franchise Value of Sports Teams
Judge Orders Rocco Out of Rocco's
Heat takes swing at senior golfers
Singh wins Buick Open at 23 under
“Gimme that Wine”
World's Largest Wine Bottle Holds over 173 Bottles of Beringer Vineyards Private Reserve Cabernet Sauvignon—To Tour 27 Morton’s Restaurants
Wineries seek to raise $750,000 to bring shipping wine out of state to Supreme Court---Hire the Kevin Star
A Record Number of Wine Appellations Await U.S. Approval
Vinters Open a Wine Shop in Long Island
Halls unveil proposed plans for winery renovations
This Day in American History
August 2,1896— Trumpet player Anatie “ Natty” Dominique Birthday
1769 - Gaspar de Portola, Spanish army captain, and Juan Crespi, a Franciscan priest, after landing in what we now call San Diego, arrived in L.A. He named the area Nuestra Senora la Reina de Los Angeles de Porciuncula. “ Juan Crespi named the area after a chapel in Italy (“Our Lady the Queen of the Angels of Porciuncula.”
1775-The Declaration of Independent is signed. Contrary to widespread misconceptions, and as reported July 3, the 56 signers did not sign as a group and did not do so on July 4, 1777. John Hancock and Charles Thompson signed only draft copies that day, the official day the Declaration was adopted by Congress. There also were questions about identifying the signers as the war was not going well, and as a matter of fact, the British did occupy Philadelphia for a short time. This day fifty signed,
and later in the year, five more signed separately. One added his name in a subsequent year.
1832-Sauk followers of Black Hawk were massacred at the mouth of the Bad Axe River in Wisconsin by Illinois militia led by General Henry Atkinson. Old men, women, and children were all killed without regard for pleas of mercy or white flags. The Black Hawk war began on April 6 after the Sauk Indians, led by Black Hawk, faring poorly in Iowa where the government had moved them, re-crossed the Mississippi River and moved back to their former corn fields to plant a new crop. As tensions mounted, panicky settlers killed two Indians seeking a parley and bearing a white flag. Black Hawk, enraged, began killing white settlers. August 27, Black Hawk, deserted by his Winnebago allies, surrendered, thus ending the Black Hawk War.
1846-General Vallejo was released from Fort Sutter, after being arrested and most of his property stolen from many of the settlers who he had helped. A tragic story.
1848-African-American William Leidesdorff founds the first public education school in Portsmith Square, San Francisco. He also built the city’s first hotel.
1858 - The first mailboxes were installed along the streets of Boston and New York City. The idea of mailboxes began in Belgium in 1848. Mail was delivered twice a day, except in rural areas, phased out in certain areas starting in the 1960’s.
1873-First trial run of the San Francisco cable car, Clay Street between Kearny & Jones .
Castro Line abandoned 1939:
Mayor Lapham in 1949 closed down more lines, for a full history:
1876 - Wild Bill (James Butler) Hickok was gunned down by Jack McCall, a desperado from Texas, in Saloon #10 at Deadwood, in the Dakota Territory. Hickok was playing poker (with his back to the door) at the time of the shooting. McCall shot Wild Bill in the back, and was hanged for the shooting, never revealing his motive. The poker hand Hickok was holding when he died consisted of a pair of black aces and a pair of black eights. This combination became known as the dead man's hand.
1896— Trumpet player Anatie “ Natty” Dominique Birthday
1900-birthday of Helen Morgan - U.S. vocalist. HM was the sensational American "torch" singer of the speakeasies and of Broadway and the movies. She introduced such song- standards as "Bill," "Can't Help Loving that Man," and "Why Was I Born?" “The Helen Morgan Story” was made about her life starring Ann Blyth and Paul Newman.
1905-Birthday of 905, Myrna Loy - U.S. actor and activist. Best known in the movies for her portrayal of the unflappable Nora Charles in the Thin Man series. She stopped making movies during World War II to work for the Red Cross.
1909- First Lincoln head penny
of Felix Leclerc, perhaps one of the greatest French language singers
and songwriters that Quebec has produced,
born in La Tuque. Several of his songs - "Le P'tit Bonheur,"
"Le Train du Nord" and "Bozo" - became popular in
Quebec in the late 1940's. In 1950, Leclerc went to Paris where he soon
became a superstar. He subsequently divided his time between Europe
and Canada. Leclerc was awarded France's Grand Prix du disque in 1951
for his song, "Moi, mes souliers." Leclerc won the award twice
more - in 1958 and in 1973. He is credited with revitalizing the popular
song in France. Felix Leclerc died on August 8, 1988 at the age of 74.
1921-- With the jurors lifting the men onto their shoulders, the eight White Sox players accused of throwing the 1919 World Series are acquitted by the jury. The next day, Commissioner Kennesaw Mountain Landis will say the overwhelming evidence clearly shows the Black Sox fixed the games with gamblers and all involved will be banned from playing professional baseball again.
1922-Birthday of saxophonist Big Nick Nicolas, Lansing, MI
1923-Birthday of vocalist Bixie Crawford, Oklahoma City, OK. http://www.geocities.co.jp/MusicHall/2651/BASIE/DISCOGRAPHY/americans_in_sweden2.html
1923-President Warren G. Harding died in office. For the first time since Zachary Taylor’s death in 1850, a president of the United States died in office of natural causes. Pres. Warren G. Harding was in poor health. His reputation was in decline because friends he had appointed to federal office had proven corrupt or incompetent. Scandals were about to break all around him. To get away from the unpleasantness, Harding began a tour June 20 of the West and Alaska. He took ill on the return journey. Accompanied by his wife, he didn’t trust him, but who also wanted to cure him, she had obtained a “electrical box”( later to be proven a hoax, but very popular in its day
as the inventor was a well-known Physician, to help cure him.) He evidently had early heart
disease, not known in its day, and was an over-eater, drinker, and well-known womanizer. Here in
San Francisco at the Sheraton Palace Hotel, he died at 58 of an embolism while recovering form an attack of ptomaine poisoning and pneumonia. There were rumors of foul play at the time. At 2:43am on August 3, Vice-President Calvin Coolidge was sworn in as president by his father, a notary public, in the family home in Plymouth Vermont. Harding was buried at Marion, Ohio on August 10. In a further bit of trivia, if you will, his wife Florence Kling De Wolfe Harding died on November 21, 1924, in Marion, Ohio, thereby creating the historical event to be the first president and first Lady to die during the term for which he had been elected ( March 4,1921-March 3,1925).
1924- birthday of James Arthur Baldwin, African- American author noted for descriptions of black life in the US. Born at New York, NY. His best-known work, “Go Tell It on the Mountain, “was published in 1953. He wrote many social commentary articles and was a leader of the movement in his day. Died at Saint PauI-de-Vence, France, Nov 30,1987.
1924-Birthday of Carroll O’Connor, television, stage and screen actor born in New York, NY. He was best-known for his portrayal of the bigoted, blue-collar Archie Bunker on “All in the Family.” He played the role of Bunker from 1971 to 1979, and was nominated for eight Emmy Awards, winning four. He won a fifth Emmy in 1989 for “ In the Heat of the Night.” He was also inducted into the Television Hall of Fame in 1989. He died in Culver City, CA on June 21, 2001.
1924-Birthday of pianist Joe Harnell, whose "Fly Me to the Moon" was a top-20 hit in 1963.
1926 - The first demonstration of the Vitaphone system, that combined picture and sound for movies, was held at the Warner Theatre in New York City. John Barrymore and Mary Astor starred in the demonstration film for the new moving picture projector.
1929-Fats Waller records “ Ain’t Misbehavin’” ( Victor 22092)
1937 - Benny Goodman and his quartet (Lionel Hampton, Teddy Wilson, and Gene Krupa recorded "Smiles" for Victor Records. Goodman was the first “white” bandleader to feature black musicians.
1937- Birthday of Garth Hudson, organist with The Band, born in London, Ontario. The Band began as The Hawks, the group that backed rockabilly singer Ronnie Hawkins from about 1959 until 1963. The Hawks then split from Hawkins, moved to the US and in 1965 became the back-up band for Bob Dylan. The Band also pursued a recording career of their own, beginning with the album "Music From the Big Pink" in 1968. The Band remained together until November 1976, when they played a final concert at the Winterland Ballroom in San Francisco. The event was filmed by director Martin Scorsese, and released as "The Last Waltz."
1938-The Brooklyn Dodgers and the St. Louis Cardinals played a doubleheader in which they experimented with a yellow baseball in the first game. They went back to the traditional white ball for the second game, and the Dodgers won both contests, 6-2 and 9-3.
1939- Albert Einstein, world-famous scientist, a refugee from Nazi Germany, wrote a letter to US President Franklin D. Roosevelt, first mentioning a possible “new phenomenon ... chain reactions . . vast amounts of power.” “A single bomb of this type,” he wrote, “carried by boat and exploded in a port, might very well destroy the whole port together with some of the surrounding territory.” Six years and four days later, Aug 6,1945, the Japanese port of Hiroshima was destroyed by the first atomic bombing of a populated place.
1943 - Lieutenant (j.g.) John F. Kennedy "PT 109" was rammed and sunk by the Japanese destroyer "Amigiri". Kennedy suffered a back injury that plagued him for the rest of his life. The story of the "PT 109" was told in Hollywood style in the 1963 movie, "PT 109", starring Cliff Robertson as JFK. There is another version that the crew was asleep and rammed by the destroyer. Recently
discovered, it is not considered a “landmark” and the PT 109 will
not be brought to the surface.
1944-birthday of bassist Albert Stinson.
The More I See You - Dick Haymes
Dream - The Pied Pipers
Sentimental Journey - The Les Brown Orchestra (vocal: Doris Day)
Oklahoma Hills - Jack Guthrie
1945-Birthday of percussionist Nana Vasconcelos, Brazil
1952-Five American boxers won gold medals at the summer Olympics in He3lsinki,Finland, giving the US the unofficial team championships for the first time. The gold medalists were flyweight Nate Brooks, light welterweight Charley Adkins, middleweight Floyd Patterson, light heavyweight Norvell Lee and heavyweight Eddie Sanders.
I’m Walking Behind You - Eddie Fisher
No Other Love - Perry Como
Ruby - Richard Hayman
Rub-A-Dub-Dub - Hank Thompson
1956-The US Virgin Island, including areas on St. John and St. Thomas, were established as a national park and preserve. On October 5, 1962, he enlarged to include offshore areas, including coral reefs, shorelines and sea grass beds. 1987- Fans at a Billy Joel concert in Leningrad jumped up and down on their seats, breaking about 200 chairs. Members of the audience carried Joel out on their shoulders at the conclusion of his performance. Joel's manager said the singer would either pay for the damage or leave behind 500 folding chairs he brought with him to help accommodate overflow audiences on his Soviet tour.
Tossin’ and Turnin’ - Bobby Lewis
I Like It Like That - Chris Kenner
Dum Dum - Brenda Lee
Heartbreak U.S.A. - Kitty Wells
1965-CBS Morley Safer's sends first Vietnam report indicating we are losing.
In the Year 2525 - Zager & Evans
Crystal Blue Persuasion - Tommy James & The Shondells
What Does It Take (To Win Your Love) - Jr. Walker & The All Stars
Johnny B. Goode - Buck Owens
1969-Bob Dylan shows up unexpectedly to his 10-year high school reunion in Hibbing, Minnesota. He and his wife leave early when a drunk tried to pick a fight with him
1973 - Rick DeMont captured the 400-meter freestyle event in 4 minutes, 2.9 seconds at the Los Angeles Invitational Swim Meet.
1975- "One Of These Nights" by the Eagles hits #1 on the pop chart, while Lynyrd Skynyrd's "Saturday Night Special" peaks at #27
1975- Billy Martin named manager of NY Yankees (1st time)
1975 - Record heat gripped New England. Highs of 104 degrees at Providence, RI, and 107 degrees at Chester and New Bedford, MA, established state records. The heat along the coast of Maine was unprecedented, with afternoon highs of 101 degrees at Bar Harbor and 104 degrees at Jonesboro.
Hot weather continued in the central U.S. Fifteen
cities reported record high temperatures for the date, including Concordia
KS with a reading of 106 degrees, and Downtown Kansas City, MO, with
a high of 105 degrees. Evening thunderstorms produced severe weather
in the Ohio Valley and the north central U.S. Thunder- storms in South
Dakota produced wind gusts to 70 mph at Philip, and hail two inches
in diameter at Faulkton.
I Just Want to Be Your Everything - Andy Gibb
I’m in You - Peter Frampton
My Heart Belongs to Me - Barbra Streisand
It was Almost like a Song - Ronnie Milsap
1984 - Charles Schulz’ award-winning comic strip was picked up by the "Daily Times" in Portsmouth, OH. With the addition of that paper, "Peanuts", featuring Charlie Brown, Snoopy, Lucy, Pigpen, Linus, Peppermint Pattie, Woodstock and the gang, became the first comic strip to appear in 2,000 newspapers.
Everytime You Go Away - Paul Young
Shout - Tears For Fears
You Give Good Love - Whitney Houston
Love Don’t Care (Whose Heart It Breaks) - Earl Thomas Conley
1986 -Jackie Joyner-Kersee (US) sets record for heptathlon (7161 pts).
1987 -Michael Andretti runs fastest Indy car race in history (171.49 MPH)
1987 - The 50-year-old Walt Disney movie classic, "Snow White and the Seven Dwarfs", was re-released. The film was the most popular animated film in motion picture history. It grossed almost $20 million in its first two weeks of re-release.
1987- Fans at a Billy Joel concert in Leningrad jumped up and down on their seats, breaking about 200 chairs. Members of the audience carried Joel out on their shoulders at the conclusion of his performance. Joel's manager said the singer would either pay for the damage or leave behind 500 folding chairs he brought with him to help accommodate overflow audiences on his Soviet tour. Audience members carry Joel out on their shoulders at the end.
1988 - Searing heat continued from the Middle and Upper Mississippi Valley to the Middle and Northern Atlantic Coast States. Twenty- six cities reported record high temperatures for the date. Chicago IL reported a record seven days of 100 degree heat for the year
1989- Reds' outfielder Eric Davis becomes the seventh player to join the 30-30 club as he homers in the 5-4 victory over the Giants. No one had ever accomplished the feat with still nearly two months left to play in the season.
1990-On President Saddam Hussein’s orders, the Iraqi army invaded Kuwait. Hussein claimed that Kuwait presented a serious threat to Iraq’s economic existence by overproducing oil and driving prices down on the world market. After conquering the capital, Kuwait City, Hussein installed a military government in Kuwait, prior to annexing it to Iraq on the claim that Kuwait was historically part of Iraq. The US and most other nations immediately condemned the aggression and the UN passed measures calling for broad economic sanctions against Iraq. As Iraqi forces began to mass along the border with Saudi Arabia, the US and other nations sent troops to Saudi Arabia to protect that country from invasion with an operation named Desert Shield. The multinational force included troops from other Arab countries such as Egypt, Syria and Morocco in addition to forces from Western governments with large economic interests in the region. Approximately 21,000 foreign nationals from several countries were detained by Iraq and were transported to various strategic locations to deter possible retaliatory attacks. The US military action was the largest mobilization of forces since the Vietnam War. The following January Desert Shield became Operation Desert Storm as the Allied forces went to war against Iraq.
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.
by Richard Aberdeen©(August 20, 2003)
Sung to the tune Deportee by Woodie Guthrie & Marting Hoffman
The chalk lines are faded, the bleachers are empty
The parking lot's vacant at the ravine stadium
The fans have all taken up bad-mitten and checkers
On a hot summer evening there's nothin' else left for fun
The owners' and players' greed knows no boundaries
They've taken the fans on a phony hype ride
Though they both earn enough money to buy a jet airplane
'Till they have more than God, they won't be satisfied
Now, is this the best way to run America's pastime?
Is this fair to the fans who are loyal and true?
Like the late Billy Martin and Tommy Lasorda
There's no more real Yankees, no one bleeds Dodger Blue
Goodbye to Ty Cobb, Joe DiMaggio and Babe Ruth
Adios Lou Gehrig and true heroes for our youth
You won't see the great Clemente up on the big sports screen
The owners and players all want. . . more money
Now, us fans in the bleachers all want a solution
To stop all your whining and complaining on earth
Let's forget about salaries and pay by statistics
For hits, runs and outs, you'll be paid what you're worth
If you hit sixty homers, you'll get you're few million
But if you pitch more balls than strikes you'd better run
Down to apply at the nearest Del Taco
We're tired of big babies who ruin baseball's fun
Let's return our national pastime back to the fans
Give big bucks to the players only when they come through
And like the late Billy Martin and Tommy Lasorda
We'll cheer for real Yankees and bleed Dodger Blue
Goodbye to Ted Williams, Stan Musial and Cy Young
Adios Mickey Mantle, Willie Mays and Hank Aaron
You won't see Charlie Hustle up on the big sports screen
The owners and players all want. . . more money
The chalk lines are redrawn, the bleachers repainted
The big screen scoreboard is re-hooked to the juice
The parking lot's filled with limos and Mercedes
The owners and players have a temporary truce
Now, we want real heroes our children can look up to
We want fair owners who treat loyal fans right
People who love baseball and the values we stand for
With all of their heart and their soul and their might
If you don't care what happens to our time-honored pastime
Then get the hell out of the way of those of us who do
Like the late Billy Martin and Tommy Lasorda
We want to cheer for real Yankees and bleed Dodger Blue
Goodbye to Vin Scully, Branch Rickey and Bill Veeck
Adios Harry Caray and real baseball, but what the heck?
We won't see Jackie Robinson slide on the big sports screen
The owners and players all want. . . more money
Yeah, the owners and players all want. . . more money. . .
Are there any more real Yankees?
Does anyone bleed Dodger Blue?