| 
 |
Strong fundamentals in analyzing financial statements in middle market & structured transactions $150,000-$5,000,000. Minimum 2 years experience, established bank relationships a plus. Aggressive compensation plan, full benefits & 401K. Contact :Jason Downs: jdowns@capnetusa.com 877.980.0558 EXT. 125 |
www.capnetusa.com Recently named one of the “5 Best Places to Work” in Los Angeles . |
Wednesday, December 3, 2007
| Singer/songwriter John Michael "Ozzy" Osbourne born 3 December 1948 Aston, Birmingham, England, originally the lead singer with Black Sabbath, who also had a "reality TV show" with his wife Sharon, Jack and Kelly, two of his three children. http://www.ozzy.com/ |
Headlines---
Classified Ads---Legal
Pentech ceases funding for two weeks
Direct Capital sales up 23%
ZRG Leasing Employment Index all time low
Cartoon---Sales charts
Truck lessors Look Out!!!
Lease Police adds Five New Features
Classified Ads---Accounting/Aircraft/Appraisals
Sales Makes it Happen----by Scott Wheeler
“Four Easy Steps… Improve Your Sales Volume Immediately”
Classified Ads---Help Wanted
Cartoon---Dog at the restaurant
Service/Manufacturing Continues Down
New Equipment Tax Incentive Ends in 28 Days
Bailout Oversight Lacking, GAO Says
G.E. Warns of Low Fourth-Quarter Profit
News Briefs---
California Nuts Brief---
Sports Briefs---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
######## surrounding the article denotes it is a “press release”
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Classified Ads---Legal
From Marshall Rosenberg, Esq.:
“In my experience, it is generally very difficult (and in particular during this troublesome economy) for senior in-house attorneys to obtain new employment in the finance industry. Ads placed in industry newsletters are helpful.
“In the last year I have had three responses to my ad in Leasing News. One from a major bank leasing and commercial finance subsidiary and the other two from smaller leasing businesses. Unfortunately, I was unable to secure a position, particularly with the aforementioned bank which seemed a most promising opportunity.
“In addition to my ad in Leasing News I have utilized search methods including networking, company, industry and employment websites, as well as search firms which have generated some opportunities, but not as yet the right one. However, I am optimistic that through continued persistence a seasoned professional will find the right opportunity.”
|
San Diego , CA |
For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
To place a free “job wanted” Leasing News ad:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm
ELFA Career Center: Job Seekers (free):
http://careers.elfaonline.org/search.cfm
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Pentech ceases funding for two weeks
Readers not on the Leasing News mailing list may not have received this story. There are no new up-dates and it is hoped that the credit lines can be restored before the end of the month or Pentech may
need to lay off employees, Leasing News is told.
Pentech Financial Services story:
http://www.leasingnews.org/archives/December%202008/12-01-08a.htm
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Direct Capital sales up 23%
Chris Broom, Chairman of Direct Capital, Portsmouth, New Hampshire reports their business is up 23% from last year, despite rumors that the company has cut back employees. The company has made changes in real estate loans and mortgages, exiting from this, as well as letting the director of vendor sales Tim Belmonte go, Broom said.
A larger marketplace has been created for an aggressive leasing company such as Direct Capital, Broom points out. With other companies exiting, getting out of accepting broker transactions, or closing down national leasing programs as Balboa, Citibank, GE Capital, Huntington Bank, Irwin Financial, Lakeland Bank, Popular Bank, Sandy Bank, it has created an opportunity for Direct Capital to increase their market share.
"Allied and the Broom family just put $10 million into Direct Capital to seek additional bank lines, "Broom explained.” One half of our originations we hold ourselves, and syndicate the other half. We see the time to expand, not contract.
Brokers and many leasing companies complain about the aggressive marketing by Direct Capital, but the fact is they want more business and Broom says they approve applications very fast.
"We are one of the very few companies that seek direct business, calling end users, beating the competition in quotes, paying vendors fast, "Broom explains." We have a very active repeat customer program that works.
"We offer wholesale rates compared to broker retail rates,” he added. "This is a marketplace if you have the money in place, aggressive marketing, and go after the direct business that is now not being serviced with competitive rates, it is wide open."
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ZRG Leasing Employment Index drops to all time low
These statistics come from ZRG, a worldwide company involved in the leasing and finance executive search industry as well as providing collections and other services. This employment index is for US firms only:
- The hiring index has lost 80% of its value since the peak in Feb of 08
- The index has lost 50% of its value since August
- Hiring activity is shifting over to work out and collections.
"After a momentary uptick in October, the floor dropped out of the hiring market with the ZRG index hitting new lows and doing it quickly and abrupt. The 'Whale Effect' seems to be driving things down quickly as many of the industries largest employers are reducing operations and freezing new hiring. Normal Q4 hiring to gear up for 2009 is not occurring as firms are scrambling to solidify funding plans for 2009 and trying to right size their businesses for the capital market conditions that are driving up funding costs and making funding resources scarce and valuable. The unprecedented events in the banking world have taken their toll on hiring and until some more stability returns to the funding side of the business, it appears overall hiring will remain very soft. The slide tick up in August did not signal the bottom to this market."
"The sample group includes banks, captives and independents. These data points are weighted by relevance of senior level significance against overall hiring indicators in the industry to calculate the score. The index is for U.S. hiring. The next update will be in January 2009."
Full Report available here:
http://leasingnews.org/PDF/ZRG_November_2008.pdf
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Truck lessors Look Out!!!
Truck lessor are about to take another major hit after January of next year as that is the date DHL’s U.S. Express business will be shut down. This will result in an additional reduction of 9,500 U.S. jobs at DHL Express on top of the approximately 5,400 positions already reduced since January. The company will retain 3,000 to 4,000 U.S. Express employees, tailored to the needs of international express customers.
The main problem stems from major defaults of all sizes of trucks and trailers originally hit with the high price of diesel, then affected by the lack of retail and wholesale goods. Even the US mail delivery
has been affected with independent operators being let go from existing contracts.
The DHL is more serious as it comes right after Christmas where independent carriers have leased vans, trucks and trailers for the exclusive use of DHL delivery. Most of the trucks used were leased and operated by independent drivers who provided their own vehicle, insurance, and worked on a contract basis. These include both large interstate and local trucks and vans.
Beginning January 30, 2009, DHL’s U.S. Express business will focus entirely on its international offerings and will discontinue its domestic-only air and ground services. DHL U.S. Express will close its U.S. ground hubs, and reduce the number of stations from 412 to 103.
The closing of the main hub in Willington, Ohio means a loss of 7,000 jobs, one in three households will be affected as well as one in five businesses could close. Home sales are down 40% to add to the troubles in this city.
Other cities throughout the United States are also seeing job losses as well as changes. In addition, independent truck operators who leased their trucks will have to find other hauling contracts. Many may default on the truck leases as they were originally obtained for DHL local delivery of packages of all sizes.
DHL and UPS have agreed to develop a contract whereby UPS will provide air uplift for DHL Express US domestic and international shipments within North America (the US, Canada and Mexico).
The arrangement with UPS is part of a broader US restructuring announced today by Deutsche Post World Net, which involves eliminating excess capacity in its US Express network and redesigning its ground linehaul network.
The move is expected to result in annualized cost savings in US Express of about $1 billion, improving underlying EBIT by around $800 million in 2010 and around $1 billion in 2011.
Companies who have purchased DHL pre-paid US delivery envelopes will have to use them by the end of January or sell them in the next 30 days on eBay at a discount.
The company will maintain its international express service in the U.S. at today’s levels and the U.S. will remain an integral part of DHL’s global network. All international shipments to and from the U.S. will still be delivered, while 99 percent will be picked up.
Founded in San Francisco in 1969, DHL is a Deutsche Post World Net brand. The group generated revenues of more than 63 billion euros (more than $93 billion) in 2007.
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Lease Police adds Five New Features
1. COMPUTER SCORE - All vendors (as well as lessees) are computer scored 1 to 100
(100 is highest risk).2. ALERTS - We now have over 200 Alerts of unusual activity
3. REPOSSESSIONS - There are over 3300 repossessions with more being added every day. We should have 9000 by next year at this time. These repossessions are matched to both vendors and lessees!
4. RECENT INQUIRIES - With over 250 subscribers (most of which are funders), our report gives valuable info on vendor leasing inquiry activity.
5. SATELLITE MAPS (NEW FEATURE) - Most locations now show a satellite map of the vendor's place of business. Use this to see if they are located in a commercial area. Click on the icon on the map, and in many cases you will see an actual street level photo of the vendor's location!
6. CREDIT DATA (NEW FEATURE) - Click on the "company size" button the top of the page and you get free access to Credit. Net information which provides you with number of employees, SIC code, and years in their data base at no additional cost!
7. SECRETARY OF STATES (NEW FEATURE) - By clicking "legal links" button at the top of the page, you get easy access to all Secretaries of States all on one page. Check for incorporation information more quickly!
8. BETTER BUSINESS BUREAUS (NEW FEATURE) - Click the BBB button and you can conveniently check a vendor's record with their regional BBB web page.
9. WEBSITE RESEARCH (NEW FEATURE) - Our new "website lookup" button provides you with easy to find information of any vendor's domain name.
In addition to an alert system, the data Lease Police is collecting includes "early terminations." This has value as LeasePolice has introduced an algorithm which includes write-offs and early terminations into its new "Vendor Score". A Vendor Report can rate the vendor from 1 to 100 and give historical performance information on how the vendor's leases have performed. The score is very sensitive to repossessions in the first year of a lease. Lease Police records and collates write-off data of equipment sellers by many different means including name of the company, phone number, addresses, individuals owners, etc... By utilizing this information, users can now identify vendors which produce leases which result in high repossessions and write-offs.
"It is our history that most of the frauds come from the sellers of the equipment, and furthermore, we believe that even in non-fraudulent transactions the vendor component is 40% responsible for a successful transaction", Lease Police Chief Bernie Boettigheimer, CLP, told Leasing News." Many lessors do not check out the vendor thoroughly or the equipment may be too small for a Dun & Bradstreet or PayNet report, since both are expensive. Our reports will uncover poor vendor performance in a very inexpensive, quick report.
Bernie Boettigheimer, CLP
President
Lease Police, Inc.
972-361-8111
972-692-8091-fax
214-549-3426-cell
bernieb@leasepolice.com
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Classified Ads---Accounting / Aircraft / Appraisals
|
Appraisals: Boston, MA |
Appraisals: National Equipment Appraisal prepares Certified Machinery and Equipment Appraisals. IRS qualified, USPAP Compliant. Nationwide - fast turnaround. Visit www.nationalequipmentappraisal.com or call 714-282-1525.” |
| Accounting: Dallas, TX Provide cost effective Sales and Use Tax and Property Tax consulting and administration Services to the leasing industry. Many leasing industry referrals available. E-mail: mattm@osgsolutions.com |
Accounting: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available, (216) 658-5618, E-mail gary@avptc.com |
| Aircraft Delivery: Seattle, WA Global Aircraft Delivery ferries all types of aircraft all over the world. We are a unique ferry company moving your aircraft with our expert turnkey operation. www.globalaircraftdelivery.com E-mail:info@globalaircraftdelivery.com |
Asset/Recovery & Collections: Charlotte, NC IRTC Continencies: Commercial Collections-Skip Trace- Repossessions-judgment enforcement-Investigations- Asset Re-marketing& No Cost Warehousing East Coast USA. Call 336-877-3077 ask for Robert or E-mail to Robert@mbsfinancial.com |
Leasing Industry Outsourcing
(Providing Services and Products)
All "Outsourcing" Classified ads
(advertisers are both requested and responsible to keep their free ads up to date):
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
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Sales Make it Happen --- by Scott Wheeler
“Four Easy Steps That Will Improve Your Sales Volume Immediately” Leasing marketers are facing a tremendous opportunity. Many of their competitors are being downsized or eliminated. Many of their fellow professionals are working less and being less effective in the marketplace. This situation is waiting for diligent, smart leasing professionals to seize the moment and the opportunities available. Don't follow the crowd – start working harder and smarter today. The task is not “Mission Impossible”, but before the individual self-destructs he needs to prepare himself for the task at hand. I have outlined a few initial steps which will help in this preparation. The sooner these steps are taken, the faster you will be prepared to properly market yourself and your company to potential clients who will become strong leasing customers in 2009. • Stop procrastinating : Time is money and time wasted can never be recaptured. Now may be the perfect time to keep a log of your time and to review how you are spending your work day. Are your actions creating new customers or better serving existing customers? If not – change your habits now. Time management is always important for success. However, it becomes essential in more challenging times. • Get organized: Sales professionals are notorious for sloppy record keeping and disorganization. Customer needs are best met by professionals who are well organized and have the proper information when needed. Database maintenance and updates are needed to properly market. Some individuals have false comforts in large databases and continue to call through huge lists. An organized leasing professional sees value in smaller databases which are well organized, categorized, and populated with meaningful information. Organization should be a daily and consistent process. You will create more customers when you are better organized. • Energize your attitude: Customers are attracted to individuals who have a positive attitude and are excited about their products. Sale professionals can energize their passion for their product by searching for new opportunities created by new challenges. Leasing professionals will energize their attitudes by networking with likeminded individuals in and out of the industry; and minimizing or cease communications with individuals who are negative. Engage in positive research and education in reference to new equipment, new industries and new potential prospects. Reach out to others who are reinventing themselves for a changing economy. Communicate all newly found information to past clients, and current clients. Most importantly share your information with new potential clients. • Start Prospecting: Prospecting, cold calling, knocking on new doors are not dirty words. If you review your current client list, at one time these valued customers were once just potential prospects. Disciplined, consistent efforts to find and service new clients are essential to your future success and future income. There is no doubt that prospecting is more challenging when the economy is slow. However, with the right attitude it can be fulfilling, meaningful and fun. Prospecting methods should include gathering and disseminating valuable information. This process will help let the world know that you are an expert in the industry and willing to share your talent with qualified businesses looking to acquire needed equipment in the near future. Your efforts today will make brighter leasing tomorrows. Prospecting is an investment in your future. Don't cut yourself short start now. These simple steps are essential. These simple steps are not difficult. These steps are seldom followed by sales professionals who are fair weather participants in the industry. True professionals never procrastinate; they are always organized; they have a high level of energy and a positive attitude; and they perceive prospecting as an easy investment which will pay large dividends in the near future. I would be delighted to hear your individual perspective. I can be contacted at scott@wheelerbusinessconsulting.com . To find out more about my leasing services visit: www.wheelerbusinessconsulting.com Scott A Wheeler, CLP With over twenty-six years of leasing experience and an Executive Masters in Business Administration , Scott is an accomplished senior leasing executive with leadership qualities in marketing and operations. His extensive experience will benefit organizations looking to reach a higher level of profitability and corporate development . Sales Makes it Happen articles:
|
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Leasing Industry Help Wanted
Commercial Credit Analyst
|
Strong fundamentals in analyzing financial statements in middle market & structured transactions $150,000-$5,000,000. Minimum 2 years experience, established bank relationships a plus. Aggressive compensation plan, full benefits & 401K. Contact :Jason Downs: jdowns@capnetusa.com 877.980.0558 EXT. 125 |
www.capnetusa.com Recently named one of the “5 Best Places to Work” in Los Angeles . |
Sales
 |
Regional Sales Manager Are you a sales professional with proven track record in the small ticket market? |
 |
Like selling vendor programs and large transactions? CLICK HERE to find out how to have fun again. |
Settlement Specialist
 |
Small ticket leasing company looking for someone to negotiate end lease settlements (renewals, FMV, etc.) and run the department. Report directly to the Director of Operations. Require 2+ yrs. experience minimum. Attractive Compensation $65k to $90k 1 st yr. + benefits. Please email resume to: |
Please see our Job Wanted section for possible new employees.
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Service/Manufacturing Continues Down
US manufacturing slumped to a 26-year low in November, highlighting the abrupt downturn in the world's biggest economy.
The Institute of Supply Management said its manufacturing index slumped 2.7 points to 36.2 percent, far below the 50 percent level that separates expansion and contraction. The level was the lowest since May 1982.
The National Association of Credit Managers (NACM) report was as equally disheartening,
but in more detail:
NACM chart
Daniel North, chief economist with credit insurer Euler Hermes ACI, who evaluates the data and prepares the report for NACM said “The amount of negative data was overwhelming, as eight of the 10 components fell and seven set record lows, leaving all 10 components below 50,” he said. On a year-over-year basis, four components and the total index itself fell record amounts. Both the manufacturing and service sectors set record lows.
“The macroeconomic data continues to describe an economy which is in bad shape and which seems to be deteriorating,” said North. Unemployment is on the rise as hundreds of thousands of jobs are being lost every month, retail sales are falling dramatically, especially on an inflation-adjusted basis, third quarter GDP growth was negative and credit is still very difficult to get. “It’s little wonder that credit managers are seeing so much demand for trade credit, but at the same time they are facing a very difficult business environment where their sales are deteriorating on the front end, and their customers can’t re-pay them at the back end,” said North. “Unfortunately, the holiday shopping season is here, and the results are likely to be grim. It will be great news if they are only as bad as they are expected to be.”
NACM Chart
The seasonally adjusted manufacturing sector index fell 1.3 to a record low of 42.4. Six components fell, all 10 are below the 50 level and five set record lows. “Ominously, the sales component has taken a terrible beating, falling from a robust 57.4 in August to a sickly 38.5 in just three months,” said North. Survey participants from various industries describe the environment:
• Concrete: “Customers are having more difficulty in paying...We are sitting on a potential ‘perfect storm’ scenario”
• Fasteners: “Manufacturing demand way down—30%”
• Scales and balances: “Orders continue to slow, more customers have reduced purchase commitments or canceled orders”
• Manufacturing: “Ugly economy without historical precedent”
The seasonally adjusted service sector index fell 3.9 to a record low of 42.0. Eight components fell, five setting record lows. A record nine components are now below 50. “The sales component fared even worse in services than it did in manufacturing, dropping a gigantic 14.9 to 30.2,” said North. “Three months ago, the sales component was at a healthy 55.5.” Survey participants describe the carnage:
• Printing and paper: “cash is tight…customers being paid slower…banks have not started lending again”
• Equipment and supplies: “customers unable to pay and asking for payment plans”
• Hotels: “More people asking for ‘payment plans’ to pay off existing debt”
• Lumber: “...down by at least 50% compared to same time last year”
• Electrical equipment: “‘little guys’ without deep pockets…are going bankrupt. We have filed more liens within the last three months than…in the last 8 years”
• Industrial machinery; “we are tightening credit across the board…increasing down payments and lowering credit lines to squeeze out extra cash…preserve capital at all costs even if it negatively impacts sales.”
“On a seasonally adjusted basis over the past 12 months, the Credit Manager’s Index has declined dramatically, falling a record 10.9 as four of the combined components set record declines,” reported North. “Much of the decline has come in just the past three months. The manufacturing index has fallen a record 10.3 from 52.7 to 42.4, and the service index has fallen a record 11.5 from 53.5 to 42.0. The largest single component to drop in each index was sales, falling 20.9 in manufacturing and a stunning 27.5 in services. It is a difficult environment when customers can’t pay back their bills, but it makes it even worse if they are not buying in the first place.”
### Press Release ###########################
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 |
News Briefs----
New Equipment Tax Incentive Ends in 28 Days
http://news.thomasnet.com/IMT/archives/2008/12/new-equipment-tax-incentive-ends
-december-31-economic-stimulus-act-of-2008.html/rss
Bailout Oversight Lacking, GAO Says
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/02/
AR2008120202219.html
G.E. Warns of Low Fourth-Quarter Profit
http://www.nytimes.com/2008/12/03/business/03electric.html?_r=1&ref=business
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Sports Briefs----
Giants end Burress' season; WR's long-term future uncertain
http://www.usatoday.com/sports/football/nfl/giants/2008-12-02-burress-reports
_N.htm?loc=interstitialskip
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California Nuts Briefs---
Schwarzenegger declares fiscal emergency in Calif.
http://www.breitbart.com/article.php?id=D94Q55T80&show_article=1
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 |
(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)
“Gimme that Wine”
Napa's Copia food, wine center files for bankruptcy
http://www.pressdemocrat.com/article/20081202/NEWS/812020352/1036/NEWS07?Title=
Napa_s_Copia_food__wine_center_files_for_bankruptcy
Australia Wine production up, sales down
http://www.abc.net.au/news/stories/2008/12/02/2435555.htm
Why Michel Chasseuil's wine cellar will stay bottled up in a museum
http://www.timesonline.co.uk/tol/life_and_style/food_and_drink/wine/article5263359.ece
Tastes for premium wine have gone sour at Wall St. and Vine
http://www.denverpost.com/business/ci_11108808
I'll drink to that: Prohibition repeal turns 75
http://www.mercurynews.com/breakingnews/ci_11113455?nclick_check=1
Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/
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Today's Top Event in History
1929- Showing extreme optimism, if not foresight, President Herbert Hoover declared to Congress that the nation had shaken off the impact of the recent stock market crash and regained its faith in the economy. “Happy Days Were Here Again,” he tried to make his theme song( Ironically, it became FDR’s theme song, along with “Brother Can You Spare a Dim.” ). The Teapot Dome scandal and trial under undermined his leadership, but it was his lack of understanding the economy that did him in. In the 1930, he called a special session of Congress to take up tariff revisions, which he had promised in his presidential campaign the previous fall. Hoover primarily wanted to have tariff rates raised on agricultural products. By the time it was over, the Smooth-Hawley Act also included some of the highest rates in history on manufactured products. Hoover signed the act into law on June 17 despite the fact that on May 4 a petition singed by 1028 economists had been sent to Washington urging defeat of the proposed legislation. Within two years, 25 nations retaliated by raising duties on US Goods. The economic nationalism triggered by this legislation had been blamed for deepening the worldwide depression. A report in 1931 recommended repealing the anti-probation law, however, Hoover opposed it. In the 1932 election, Hoover received a popular vote of 15,761,841 with 59 electoral votes to Roosevelt’s 22,821,857 and 472 electoral votes. The democrats also gained 13 senate seats and 90 house seats.
[headlines]
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This Day in American History
| 1755-Birthday of Gilbert Charles Stuart, American portrait painter whose most famous painting is that of George Washington. He also painted portraits of Madison, Monroe, Jefferson and other important Americans. Stuart was born near Narragansett, RI, and died July 9, 1828 at Boston, MA. 1762 - France ceded to Spain all lands west of the Mississippi- the territory known as Upper Louisiana. 1799-Margaret O'Neale Eaton birthday. Her marriage to the man who would become a cabinet officer resulted in a scandal that caused Andrew Jackson to dismiss his entire cabinet. It led to a permanent breach between Jackson and John C. Calhoun which resulted in Martin Van Buren becoming president rather than Calhoun and Calhoun backing the South Carolina resolution on tariffs, which many believe hastened the civil war between the states. Living well is said to be the best revenge and the Eatons lived well, in fact said to have had a brilliant social life when he served as governor of Florida and U.S. minister to Spain. She lived until she was eighty years old; marrying her grandchildren’s dance teacher after her husband died. http://www.floridamemory.com/OnlineClassroom/Governors/Eaton.cfm http://www.benet.org/teachers/lbrown/WebSites/TheEatons /Newsletter_2/newsletter_2.html http://www.booknotes.org/Program/?ProgramID=1403 http://www.army.mil/cmh-pg/books/sw-sa/Eaton.htm 1800 - US state electors met and cast their ballots for the presidency. A tie resulted between Thomas Jefferson and Aaron Burr. 1818-Illinois became the 21st state. The strange but beautiful prairie lands east of the Mississippi and north of Lake Michigan presented a difficult challenge to the tide of westward-moving immigrants. Accustomed to the heavily forested lands of states like Kentucky and Tennessee, the early immigrants to Illinois did not know what to make of the vast treeless stretches of the prairie. Most pioneers believed that the fertility of soil revealed itself by the abundance of vegetation it supported, so they assumed that the lack of trees on the prairie signaled inferior farmland. Those brave souls who did try to farm the prairie found that their flimsy plows were inadequate to cut through prairie sod thickly knotted with deep roots. In an "age of wood," farmers also felt helpless without ready access to the trees they needed for their tools, homes, furniture, fences, and fuel. For all these reasons, most of the early Illinois settlers remained in the southern part of the state, where they built homes and farms near the trees that grew along the many creek and river bottoms. The development of heavy prairie plows and improved access to wood and other supplies through new shipping routes encouraged even more farmers to head out into the vast northern prairie lands of Illinois. By 1840, the center of population in Illinois had shifted decisively to the north, and the once insignificant hamlet of Chicago rapidly became a bustling city. The four giant prairie counties of northern Illinois, which were the last to be settled, boasted population densities of 18 people per square mile. Increasingly recognized as one of the nation's most fertile agricultural areas, the vast emptiness of the Illinois prairie was eagerly conquered by both pioneers and plows. The Railroad and Great Lakes made Chicago a significant center of transportation. http://memory.loc.gov/ammem/today/dec03.html 1826-Birthday of Union General George McClellan, born in Philadelphia. Although McClellan emerged early in the war as a Union hero, he failed to effectively prosecute the war in the East. McClellan graduated from West Point in 1846, second in his class. He served with distinction in the Mexican War under General Winfield Scott, and continued in the military until 1857. After retiring from the service, McClellan served as president of the Illinois Central Railroad, where he became acquainted with Abraham Lincoln, who was then an attorney for the company. When the war began, McClellan was appointed major general in charge of the Ohio volunteers. In 1861, he command Union forces in western Virginia, where his reputation grew as the Yankees won many small battles and secured control of the region. Although many historians have argued that it was McClellan's subordinates who deserved most of the credit, McClellan was elevated to commander of the main Union army in the east, the Army of the Potomac, following that army's humiliating defeat at the First Battle of Bull Run. 1979-. McClellan was beloved by his soldiers but was arrogant and contemptuous of Lincoln and the Republican leaders in Congress. A staunch Democrat, he was opposed to attacking the institution of slavery as a war measure. While his work as an administrator earned high marks, his weakness was revealed when he took the field with his army in the spring of 1862. He lost to Robert E. Lee during the Seven Days' battles, and as a field commander he was sluggish, hesitant, and timid. President Lincoln then moved most of McClellan's command to John Pope, but Pope was beaten badly by Lee at the Second Battle of Bull Run. When Lee invaded Maryland in September 1862, Lincoln restored McClellan's command. McClellan pursued Lee into western Maryland, and on September 17 the two armies fought to a standstill along Antietam Creek. Heavy loses forced Lee to return to Virginia, providing McClellan with a nominal victory. Shortly after the battle, Lincoln declared the Emancipation Proclamation, which converted the war into a crusade against slavery, a measure bitterly criticized by McClellan. The general's failure to pursue Lee into Virginia led Lincoln to order McClellan's permanent removal in November. The Democrats nominated McClellan for president in 1864. He ran against his old boss, but managed to garner only 21 of 233 electoral votes. After the war, he served as governor of New Jersey. He died on October 29, 1885, in Orange, New Jersey. 1828-Andrew Jackson was elected seventh president of the United States. Jackson, a senator from Tennessee until his nomination, received 647,231 popular votes and 178 electoral votes against 509,097 popular votes and 83 electoral votes for John Quincy Adams, candidate of the National Republican Party. John C. Calhoun was reelected vice president, receiving 171 electoral votes. Martin Van Buren of New York swung the election on the understanding that he would continue to exercise power in the state through the spoils system. Jackson was reelected in 1832. by 687,502 popular votes and 219 electoral votes, against 530,189 popular votes and 49 electoral votes for Henry Clay. Martin Van Buren was elected vice-president. 1833- the first college to enroll women and men on equal terms was Oberlin Collegiate Institute, Oberlin, OH, with 44 students, 29 men and 15 women. March 21, 1930, the name of the school was changed to Oberlin College. It was the first school to advocate the abolition of slavery and to accept African-American men and women on equal terms with white students. 1842- Phoebe Apperson Hearst birthday - renowned philanthropist whose contributions - based on her husband's gold and silver mining fortune - put a lot of the gold in the reputation of California. Her donations to the University of California that she served as a regent from 1897 to her death in 1919 helped make it a major institution. She endowed nurseries and kindergartens, helped rebuild many institutions after the San Francisco earthquake/fire, and later her financial aid to numerous archaeological expeditions carried the stipulation that the finds go to the UC and thus came about the University Museum. Later she endowed UC's department of anthropology. She also set up the first refuge for redwood trees. When her husband George was appointed to the U.S. senate, she turned her philanthropy to that area's institutions and was, among other things, a major contributor to the National Cathedral and the restoration of Mount Vernon. Her son was William Randolph Hearst, the newspaper publisher. She died April 13,1919, a victim of the worldwide influenza epidemic of 1918-1919. http://www.hearstcastle.org/history/phoebe_hearst.asp http://www.pleasantonweekly.com/morgue/2001/2001_04_13.phoebe13.html http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=2345 1847-Frederick Douglass, along with Martin R Delaney, start The North Start, an anti-slavery paper. http://www.famousamericans.net/frederickdouglass/ http://www.us-civilwar.com/douglass.htm http://www.lib.rochester.edu/rbk/douglass/thompson.stm http://itech.fgcu.edu/faculty/wohlpart/alra/douglass.htm http://www.jameslandrith.com/freebies/fdouglass.html 1864- Salmon P. Chase was appointed chief justice of the Supreme Court. His most significant achievements came when he held the office of secretary of the treasury under Lincoln. He was partly responsible for saving the country from financial ruin with the Legal Tender Act, which he sponsored in 1862. The act allowed 150,000,000 greenbacks to be issued. The phrase “In God We Trust” was put on national coins by order of Chase. 1868- Trial of Jefferson Davis starts; first blacks on US trial jury. He refused to honor the trial and sat in jail for two years. Horace Greely, democratic candidate for President of the United States, 1872. Founder and editor of the New York Tribune, became advocateof universal amnesty for Confederates, and in May 1867 offered bail for Jefferson Davis. He was pardoned by President Johnson under the influence of Southern Democrats who had swung the electoral vote in an alleged backroom deal. Some other “trivia,” Davis was the son-in-law of former president Zachary Taylor (who was prepared to hold the Union together by armed force rather than by compromise) and US Secretary of War (53-57). (see Horace Greely:http://politicalgraveyard.com/bio/graybill-greely.html) http://www.ngeorgia.com/people/davisj.html http://www.whitehouse.gov/history/presidents/zt12.html 1878- Settlers arrive at Petach Tikvah Israel from various parts of the world, including America. 1879-Thomas Edison said he could invent a safe electric light bulb. Although electric arc lights had existed for more than ten years, their high intensity made them a fire hazard Financiers, including J.P. Morgan and the Vanderbilt family, took Edison at his word and established the Edison Electric Light Company later that year. After more than a year of experiments, Edison and his young assistant, Francis Upton, finally developed a carbon filament that would burn in a vacuum in a glass bulb for forty hours. They demonstrated the light bulb to their backers on Dec. 3, 1879, and by the end of the month, were exhibiting the invention to the public. On December 31, 1879, the Pennsylvania Railroad ran special trains to Edison's Menlo Park laboratory to let the public witness a demonstration of the invention. 1892- Harriet Stratemeyer Adams birthday, claimed to be the author of all 55 of the Nancy Drew mysteries and most of the Hardy Boys and Toms Swift Jr., series as well as numerous books in the Bobbsey Twins and other books in the Stratemeyer publishing empire. Took over the organization in 1930 when her father died. Most of the books were ghosted by writers she hired, but the fable that she both created the series and write the stories still lives on. http://www.fantasticfiction.co.uk/authors/Harriet_Stratemeyer_Adams.htm http://www.hindu.com/thehindu/yw/2002/03/30/stories/2002033000130300.htm 1896-Hermann Hollerith incorporated the Tabulating Machine Company. At age twenty-nine, Hollerith, who had worked at the Census Bureau in 1880, won a competition to develop the most efficient counting system for the 1890 census. His tabulating machine counted punched cards, inspired by a card system developed by Joseph Jacquard of France to program patterns into textile looms. Through a series of mergers and reorganizations, the Tabulating Machine Company eventually became IBM. 1897-Birthday of social artist William Gropper. Died 1977. http://www.gropper.com/ http://www.artcyclopedia.com/artists/gropper_william.html 1902- Birthday of Mitsuo Fuchida, the pilot who flew the lead plane in Japan's air attack on Pearl Harbor (12/7/1941). Following WWII, through representatives of the Pocket Testament League, Fuchida was converted to Christianity in 1950. 1902-Birthday of clarinet player Joe “Brother Cornbread” Thomas, New Orleans, LA http://jazz-band.net/band.php?id=8d057992joethom4fe214b32a67f640d 1903-Birthday of trombone player Brad Gowans , Billerica, MA, 1907-singer Connie Boswell birthday, perhaps best known as part of the Boswell Sisters singing group. After her sisters married, she continued as a solo performing mostly from a wheelchair. She'd been a victim of polio as a child and then had a fall that aggravated the situation. She played a number of instruments and was a gifted arranger. http://www.otrcat.com/connieboswell.htm http://www.amazon.com/exec/obidos/tg/guides/guide-display/-/ 2GC0M8R0CLCO5/104-3191958-8595946 1919-Birthday of piano player/composer Herbie Nichols, New York City, NY,died 1963. http://ourworld.compuserve.com/homepages/damonshort/nichols.htm http://www.amazon.com/exec/obidos/ASIN/193008000X/inktomi- bkasin-20/002-5410374-3716044 1922-The first movie in Technicolor that was considered released for commercial purpose plus was “really successful” was “ The Toll of the Sea,” released this day at the Rialto Theater, New York City. The process was developed by Dr. Herbert Thomas Kalmus, president and general manager of the Technicolor Motion Picture Corporation form its inception until 1959. 1922-Birthday of Joseph Edward “Joe” Collins, baseball player born at Stanton, PA. As a first baseman for the New York Yankees, Collins played in seven World Series. He hit tow home runs off Don Newcome in Game 1of the 1955 series (I was there and remember it, too). August 30, 1989. 1925 - The first jazz concerto for piano and orchestra was presented at Carnegie Hall in NYC. Commissioned by Walter Damrosch, American composer George Gershwin presented "Concerto In F", and was also the featured soloist playing a flugelhorn in a slow, bluesy style as one of his numbers. 1929-Birthday of sax/clarinet player Clarence Ford, New Orleans, LA http://www.artistdirect.com/music/artist/card/0,,431599,00.html http://www.rasputinmusic.com/albumpage.cfm?sku_num=7464663392 1929-Birthday of trombone player Fred Assunto , New Orleans, played with the Dukes of Dixieland http://www.jazzbymail.com/artists/dod.html 1929- Showing extreme optimism, if not foresight, President Herbert Hoover declared to Congress that the nation had shaken off the impact of the recent stock market crash and regained its faith in the economy. “Happy Days Were Here Again,” he tried to make his theme song( Ironically, it became FDR’s theme song, along with “Brother Can You Spare a Dim.” ). The Teapot Dome scandal and trial under undermined his leadership, but it was his lack of understanding the economy that did him in. In the 1930, he called a special session of Congress to take up tariff revisions, which he had promised in his presidential campaign the previous fall. Hoover primarily wanted to have tariff rates raised on agricultural products. By the time it was over, the Smooth-Hawley Act also included some of the highest rates in history on manufactured products. Hoover signed the act into law on June 17 despite the fact that on May 4 a petition singed by 1028 economists had been sent to Washington urging defeat of the proposed legislation. Within two years, 25 nations retaliated by raising duties on US Goods. The economic nationalism triggered by this legislation had been blamed for deepening the worldwide depression. A report in 1931 recommended repealing the anti-probation law, however, Hoover opposed it. In the 1932 election, Hoover received a popular vote of 15,761,841 with 59 electoral votes to Roosevelt’s 22,821,857 and 472 electoral vote. The democrats also gained 13 senate seats and 90 house seats. http://www.utu.fi/hum/historia/yh/scarry/USDocuments/HappyDays.htm 1930-Birthday of singer Andy Williams, born Walt Lake, IA. Platinum album: Love Story, 13 gold albums. http://www.andywilliams.com/ 1931 -- Unemployment in American reaches 13.5 million — almost 1/3 of the American work force. In Los Angeles alone, shelters give asylum to over 200,000 persons. Many choose instead to hit the road — another 200,000 become freight car migrants on the Missouri Pacific Line. Severe drought hits the midwestern and southern plains. As the crops die, the 'black blizzards" begin. Dust from the over-plowed and over-grazed land begins to blow. 1932-Birthday of singer/actress Jaye P. Morgan, ( Mary Morgan )New York, NY, 1932. http://us.imdb.com/Name?Morgan,+Jaye+P. http://www.darkpeak.freeserve.co.uk/forfemmes/page43.html http://www.amazon.com/exec/obidos/ASIN/B0000036LU/ avsearch-df1-9-20/002-5410374-3716044 1932-Birthday of trumpet player Webster Young, Columbia, SC http://www.fantasyjazz.com/catalog/young_w_cat.html 1942- Frank Sinatra’s first solo engagement, Paramount Theater, New York City. 1945--*HENRY, ROBERT T. Medal of Honor Rank and organization: Private, U.S. Army, 16th Infantry, 1st Infantry Division. Place and date: Luchem, Germany, 3 December 1944. Entered service at: Greenville, Miss. Birth: Greenville, Miss. G.O. No.: 45, 12 June 1945. Citation: Near Luchem, Germany, he volunteered to attempt the destruction of a nest of 5 enemy machineguns located in a bunker 150 yards to the flank which had stopped the advance of his platoon. Stripping off his pack, overshoes, helmet, and overcoat, he sprinted alone with his rifle and hand grenades across the open terrain toward the enemy emplacement. Before he had gone half the distance he was hit by a burst of machinegun fire. Dropping his rifle, he continued to stagger forward until he fell mortally wounded only 10 yards from the enemy emplacement. His single-handed attack forced the enemy to leave the machineguns. During this break in hostile fire the platoon moved forward and overran the position. Pvt. Henry, by his gallantry and intrepidity and utter disregard for his own life, enabled his company to reach its objective, capturing this key defense and 70 German prisoners. 1946 -- General Strike in Oakland, California. 100,000 workers from 142 AFL unions — including workers from factories, industries, services, retail stores, transportation systems and more — declare a "work holiday" and walked off their jobs. The three-day General Strike of more than 130,000 workers in Alameda County (Oakland) CA, opposed police brutality and supported striking Oakland department store workers. It lasted until city and labor leaders settled on a compromise agreement, returning workers to their jobs on Dec. 5. In following months, the populist Oakland Voters League brought together progressive factions in the city to elect four out of five labor candidates to the city council. 1947 -- Tennessee Williams' A Streetcar Named Desire, opens today at New York's Ethel Barrymore Theater and runs for 855 performances. Jessica Tandy, Marlon Brando, Kim Hunter, & Karl Malden star. 1948—Top Hits Buttons and Bows - Dinah Shore On a Slow Boat to China - The Kay Kaiser Orchestra (vocal: Harry Babbitt & Gloria Wood You Were Only Fooling - Kay Starr One Has My Name (The Other Has My Heart) - Jimmy Wakely 1950 — Los Angeles wide receiver Tom Fears celebrates his 27th birthday by making an NFL record 18 receptions for 189 yards and two touchdowns in the Rams' 51-14 victory over Green Bay. 1951- Paul Harvey begins his national radio broadcast. http://www.paulharvey.com/ http://www.610wtvn.com/staff/paulharvey/ http://www.klmj.com/harvey.htm 1953-President Eisenhower criticizes McCarthy for saying communists are in Republican party. 1953 - "Kismet" opened on Broadway in New York. The show ran for 583 performances. 1955 - Elvis Presley’s first release on RCA Victor Records was announced. No, it wasn’t "Hound Dog" or "Heartbreak Hotel". The first two sides were actually purchased from Sam Phillips of Sun Records: "Mystery Train" and "I Forgot to Remember to Forget". Elvis was described by his new record company as “The most talked about personality in recorded music in the last 10 years.” 1956- Wilt Chamberlain's 1st collegiate basketball game (scores 52). http://www.nba.com/history/chamberlain_bio.html 1956—Top Hits Singing the Blues - Guy Mitchell Blueberry Hill - Fats Domino True Love - Bing Crosby & Grace Kelly Singing the Blues - Marty Robbins 1960 - "Camelot" opened at the Majestic Theatre in New York City. Richard Burton and Julie Andrews played the leading roles in the musical written by Lerner and Loewe. Robert Goulet also got rave reviews. "Camelot" had a run of 873 performances. Broadway went Hollywood in the 1967 film version of "Camelot". Its run was not quite as successful. 1962- Roger Hilsman, director of the State Department Bureau of Intelligence and Research, sends a memorandum to Secretary of State Dean Rusk pointing out that the communist Viet Cong fighters are obviously prepared for a long struggle. Hilsman felt that a noncommunist coup against Diem "could occur at any time," and would seriously disrupt or reverse counterinsurgency momentum. As it turned out, Hilsman was eventually proven correct. On November 1, 1963, dissident South Vietnamese generals led a coup resulting in the murder of Diem. His death marked the end of civilian authority and political stability in South Vietnam. The succession of military juntas, coups, and attempted coups in 1964 and early 1965 weakened the government severely and disrupted the momentum of the counterinsurgency effort against the Viet Cong. While the administration had accurate intelligence reports, they ignored them as Lyndon B. Johnson feared being perceived as weak against communist expansion in the far east. 1964- Police arrests 733 sit-in students at University of California at Berkeley ( I helped cover this for KFRC radio, San Francisco, stringing also for UPI audio/AP. http://www.fsmitha.com/h2/ch28.htm 1964—Top Hits Leader of the Pack - The Shangri-Las She’s Not There - The Zombies Mr. Lonely - Bobby Vinton Once a Day - Connie Smith 1965-Birthday of Olympic gold medal figure skater Katrina Witt, born Karl-Marx-Stadt, East Germany. 1966--At a time when the airwaves and record charts where dominated by Rock and Roll, a most unusual song called "Winchester Cathedral" by The New Vaudeville Band became the number one tune in the US. 1967- Dr. Christian Bernard, a South African surgeon, performed the world's first successful heart transplantation at Cape Town, South Africa. 1969 -- John Lennon is offered role of Jesus Christ in "Jesus Christ Superstar." 1972—Top Hits Papa Was a Rollin’ Stone - The Temptations I Am Woman - Helen Reddy If You Don’t Know Me by Now - Harold Melvin & The Bluenotes She’s Too Good to Be True - Charley Pride 1977--After eight straight weeks at the top of the Cashbox Magazine Best Sellers chart, Debby Boone's "You Light Up My Life" finally gives way to "Don't It Make My Brown Eyes Blue" by Crystal Gayle. 1977 - After 29 weeks in the #1 position on the album charts (a record, literally...), "Rumours", by Fleetwood Mac, was replaced at the top spot by the album "Simple Dreams", sung by Linda Ronstadt. 1979- Nearly a dozen young people are killed at concert of the rock band The Who in Cincinnati, Ohio. Eleven victims were trampled to death during a stampede for seats at the Riverfront Coliseum. The band was not informed of the deaths until after the show. 1980—Top Hits Woman in Love - Barbra Streisand Another One Bites the Dust - Queen He’s So Shy - Pointer Sisters If You Ever Change Your Mind - Crystal Gayle 1984 - Miss America 1971, Phyllis George, wife of the Governor of Kentucky and an heiress to the Kentucky Fried Chicken fortune, signed a multiyear contract with CBS-TV. Her work as co-anchor of the "CBS Morning News" began in January 1985. 1986 - Bobby Knight led the Indiana Hoosiers past Notre Dame 67-62. For only the second time in his 22-year basketball-coaching career, Knight relied on a zone defense. He also threatened to throw 20 chairs onto the floor to trip Fighting Irish players, so maybe that had something to do with it, too. 1988—Top Hits Baby, I Love Your Way/Freebird Medley (Free Baby) - Will To Power Look Away - Chicago How Can I Fail? - Breathe I Know How He Feels - Reba McEntire 1994 - "On Bended Knee", by Boyz II Men, hit number one on the "Billboard" "Hot 100". The smash was #1, off and on, thru January 1995. 2001- Although Enron has filed for Chapter 11 bankruptcy, the corporation is current on its payments and plans to keep the company's name on Astros' new ballpark, according to Astro officials.. The downtown stadium will stay Enron Field as long as Enron continues to exist and makes regular payments on its 30-year, $100 million commitment they stated. |
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