Monday, February 22, 2016
Today's Equipment Leasing Headlines
FDIC-Insurance Institutions Earn $40.8 Billion
in Fourth Quarter - Up 4% from Previous Year
FinTech #102 by Sean Murray
“Letter from the Editor “ deBanked
Leasing Industry Ads---Help Wanted
Ascentium Growth Continues
10 Valid Reason for NOT going to the NEFA Conference
March 3-4, New Orleans, Louisiana
January, 2016 - The List
The Good, the Bank, and the Ugly
“Get Yourself a Warehouse Line”
Sales Make it Happen - by Christopher Menkin
Cashflow is King
Details Emerged about the OnDeck
-JP Morgan Chase Deal
Saluting Leasing News Advisor
Burlingame, California - Adopt a Dog
Why Online Lending Could Benefit You
More than a Bank Loan
Fintech Stock Performance
Broker/Funder/Industry Lists | Features (writer's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
www.leasingcomplaints.com (Be Careful of Doing Business)
Leasing News Icon for Android Mobile Device
You May have Missed---
SparkPeople--Live Healthier and Longer
California Nuts Brief---
"Gimme that Wine"
This Day in American History
Weather, USA or specific area
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##### Press Release ############################
FDIC-Insurance Institutions Earn $40.8 Billion
in Fourth Quarter - Up 4% from Previous Year
Community Bank Earnings Rise to $5.1 Billion
- Net Operating Revenue of $174 Billion Is 4 Percent Higher Than a Year Ago
- Noninterest Expenses Are 2.5 Percent Lower
- Loan Losses Post First Year-Over-Year Increase Since Second Quarter 2010
"The banking industry continued to improve in the fourth quarter. … However, banks must remain vigilant as they manage interest-rate risk, credit risk, and evolving market conditions."
-- FDIC Chairman Martin J. Gruenberg
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $40.8 billion in the fourth quarter of 2015, up $4.4 billion (11.9 percent) from earnings of $36.5 billion a year earlier. The increase in earnings was mainly attributable to a $6.8 billion increase in net operating revenue and a $2.7 billion decline in noninterest expenses. The reduction in noninterest expenses is attributed to a drop in litigation expenses at a few large banks. Financial results for the fourth quarter of 2015 and the full year are included in the FDIC’s latest Quarterly Banking Profile.
Of the 6,182 insured institutions reporting fourth quarter financial results, more than half (56.6 percent) reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the fourth quarter fell from 9.9 percent a year earlier to 9.1 percent, the lowest level for a fourth quarter since 1996.
Martin J. Gruenberg
“Revenue and income were up from the previous year, overall asset quality continued to improve, loan balances increased, and there were fewer banks on the problem list,” Gruenberg said. “However, banks are operating in a challenging environment. Revenue growth continues to be held back by narrow interest margins. Many institutions are reaching for yield, given the competition for borrowers and low interest rates. And there are signs of growing credit risk, particularly among loans related to energy and agriculture.”
Highlights from the Fourth Quarter 2015 Quarterly Banking Profile
Community Bank Earnings Rise: The 5,735 insured institutions identified as community banks reported $5.1 billion in net income in the fourth quarter, an increase of 4 percent from the fourth quarter of 2014. Net operating revenue of $22.6 billion at community banks was $1.6 billion (7.4 percent) higher than a year earlier.
Net Operating Revenue of $174.3 Billion Is 4 Percent Higher Than a Year Ago: Loan growth helped lift revenue at most banks, as net interest income rose $3.9 billion (3.6 percent) compared to the fourth quarter of 2014. Noninterest income was $3.0 billion (5 percent) higher, as servicing income rose $2.1 billion (178 percent) and gains on asset sales increased by $984 million (32 percent). Total net operating revenue was 4.1 percent higher than a year ago.
Noninterest Expenses Are 2.5 Percent Lower: Total noninterest expenses of $105.8 billion in the fourth quarter were $2.7 billion (2.5 percent) less than in the fourth quarter of 2014. Itemized litigation expenses at a few large banks were $2.4 billion (80 percent) below the level of a year ago.
Loan Losses Post First Year-Over-Year Increase Since Second Quarter of 2010: Net loan and lease charge-offs totaled $10.6 billion in the fourth quarter, an increase of $690 million (7 percent) compared to the fourth quarter of 2014. This is the first time since the second quarter of 2010 that charge-offs have increased year-over-year. Net charge-offs of loans to commercial and industrial borrowers were $512 million (43.4 percent) higher than a year ago, while charge-offs of credit cards were $292 million (5.6 percent) higher. The average net charge-off rate for the fourth quarter was 0.49 percent, compared to 0.48 percent a year ago.
Loan Growth Rate Continues to Pick Up: Total loan and lease balances increased $197.3 billion (2.3 percent) during the fourth quarter. For the 12 months ended December 31, loans and leases increased $530.1 billion (6.4 percent). This is the largest 12-month growth rate since mid-2007 to mid-2008. At community banks, loan balances rose 2.5 percent during the fourth quarter of 2015 and increased 8.6 percent during the past 12 months.
Full-Year 2015 Earnings Are 7.5 Percent Higher Than 2014: Net income for the full year totaled $163.7 billion, an increase of $11.4 billion (7.5 percent) over the total for 2014. Almost two out of every three banks (63.6 percent) reported higher net income in 2015. Net operating revenue was $14.9 billion (2.2 percent) higher than in 2014, while total noninterest expenses were $5.5 billion (1.3 percent) lower. Itemized litigation expenses at a few large banks were $6.6 billion (67.6 percent) less than in the previous year.
Deposit Insurance Fund (DIF) Rises $2.5 Billion to $72.6 Billion: The DIF increased from $70.1 billion in the third quarter to $72.6 billion in the fourth quarter, largely driven by $2.2 billion in assessment income. The DIF reserve ratio rose from 1.09 percent to 1.11 percent during the quarter.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation’s banks and savings associations, 6,270 as of September 30, 2015. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.
### Press Release ############################
FinTech #102 by Sean Murray
“Letter from the Editor “ deBanked
2016 is here and the world of alternative finance isn't slowing down. If you're a commercial finance broker, the environment has gotten a little bit more competitive. Sorry folks, the Ferrari might have to wait! At least that's what some of the sources we interviewed are saying.
But it's not all bad, the path to success is just changing. Cold calling and direct mail are giving way to new ideas such as Times Square billboards, referral relationships, and diversified product lines. Along the way, regulatory compliance is permeating thought processes more than ever before. The Small Business Finance Association is evolving and other groups are trying to make their presences felt as well.
Certain models may be tested by rising interest rates in 2016. Investors in marketplace lending may be wooed by safer investments that pay out a smaller, yet acceptable yields. Or perhaps a volatile or declining stock market will encourage more investors than ever before to flock to marketplace lending. Several predictions made by the "experts" in 2015 will be tested. It's amazing to think that we really haven't had economic or market conditions change in a long time.
The fact that it's a presidential election year could also stir things up. Democratic contender Bernie Sanders, for example, has pledged to wage war on lenders by instituting nationwide interest rate caps to levels that would likely cripple both marketplace lenders and credit card companies.
From January-February deBanked Magazine
Sean Murray, Chief Editor/Publisher at deBanked. Editor/Publisher of www.debanked.com, a daily industry online media. email@example.com
Free Newsletter and print Magazine: http://debanked.com/subscribe.php
Previous Financial Technology Articles
Leasing Industry Ads---Help Wanted
Now is the Time
How to Obtain a Help Wanted Ad
Logo on top is free, as well as the web address and information about the address at the bottom. Lines are $595 for the first four and $40 for each additional line or space. The ad will appear for 21 days. For returning advertisers during the year, Leasing News offers 30 days and a reduced rate.
Note: most ads point to a full job description as well as click to an email address.
Leasing News puts a "help wanted" on top of the "masthead" so it is the first thing that a reader sees when they open the news edition or go to the website. The ad is changed in each news edition. It is designed to be a "display ad," not a "classified ad."
In addition to the masthead position, the "help wanted" ad also appears in the "news briefs" section, the second most-read section, and it is rotated in each news edition. It is not hidden. It is clearly visible.
The full section of "help wanted ads” also appears in each news edition, in each edition, as well as appears on the web site. It also is not “hidden.”
The idea of the ad is to draw attention, and have the reader interested in what the company offers from the advertisement rather than a "job description."
Most ads then direct the reader to their website for a full job description, if interested, or to a separate flyer. The main idea is to get the reader to make an inquiry.
10 Valid Reason for NOT going to the NEFA Conference
March 3-4, New Orleans, Louisiana
Over 245 people have already registered ...what are YOU waiting for?
- I don’t want to learn about the latest products, services and techniques. I’m waiting for the old days to come back.
- What if I get a new funding opportunity? Then I’ll have to explain multiple options to my customers. Ugh!
- Won’t I have to change out of my PJ’s?
- The last time I met a top industry performer he started helping me fix some of the problems I was having …and for free. I mean, think about it, the nerve!
- All the NEFA people do is talk about the future and opportunities. Please see reason #1.
- New Orleans. Really, who needs great food, tons of bars and clubs, and unique, old-world charm? Won’t that keep me up late?
- I’ve already done my taxes. If I make any more money, won’t I have to amend them?
- Sure, I can pick up tons of good, actionable ideas but …oh ...wait ...that’s a reason TO go, isn’t it?
- How am I supposed to sleep in late knowing there’s a big, hot breakfast being served to other attendees?
- I went to a NEFA conference once. There was nobody whining and complaining. Who would I sit with?
March 3 - March 4
National Equipment Finance Summit
214 Rue Royale
New Orleans, Louisiana 70130
SVP Broker Funding
Columbia, South Carolina
Dwight Galloway will be covering the conference for
Leasing News with a report to follow for readers not attending...
Signed Up to Attend
Registration and Pricing
The Women in Leasing LinkedIn Group would like to cordially invite you to our March luncheon at Tableau in New Orleans, on Wednesday March 2nd from 1:00pm – 3:00pm. The lunch is being co-hosted by ECS Financial Services and Financial Pacific Leasing, an Umpqua Bank company.
Online Registration is closed; however, if you would like to attend, please call Shari Lipski at 847.897.1711 or via email at SLipski@ECSFinancial.com
The restaurant is less than a mile from the hotel. ….And thinking dessert will be at world famous Café Du Monde ….so you will be able to walk off the calories!
Shari L. Lipski, CLFP
ECS Financial Services, Inc.
January, 2016 - The List
The Good, the Bank, and the Ugly
On Deck, New York, New York (01/16) OnDeck Crashes As Online Lending Sector Struggles Seeking Alpha Report
DLL, formerly known as De Lage Landen Financial Services, Wayne, Pennsylvania (01/16) DLL Leasing Sale/Could be Concluded After 6/16 Rabobank Said to Hold Talks for $4.9 Billion
ACC Capital/ formerly Amembal Capital (01/16) ACC Capital's Residual Claim in Alabama Thrown Out of Court for Bait and Switch
Ascentium Capital, Kingwood, Texas (01/16) Achieves 56% Increase Funded Volume http://leasingnews.org/archives/Jan2016/01_13.htm#achieves
Axis Capital, Grand Island, Nebraska (01/16) AXIS Capital Board of Directors Announces http://leasingnews.org/archives/Jan2016/01_08.htm#axis
Personnel Changes http://leasingnews.org/archives/Jan2106/01_06.htm#marlin
Marlin Leasing, Mount Laurel, NJ (01/16) Marlin Business Services Is a Buyout Target http://leasingnews.org/archives/Jan2106/01_06.htm#marlin
History - Alphabetical by Company
Get Yourself a Warehouse Line
Sales Make it Happen - by Christopher Menkin
A Warehouse Line enables you to “fund leases” to discount or borrow against recourse or non-recourse with specific stipulations. It attracts brokers and earns a profit above the discounting the transaction when the master lease is complete.
Before getting into this aspect and its history, a “Warehouse Line” allows you also to pay a seller of equipment much faster than waiting for all paperwork to be complete, speeding up the process tremendously. It gives you the ability to pay vendors half with the order, or to form a multi-lease, paying in any increments you choose, or if you are comfortable with the vendor, paying him before delivery. This is a tremendous advantage in the street.
While some funders offer this today, including an interest only form on the money advanced, the profit comes in not only being able to attract more vendors, control the rate and margin of the transaction, but in additional profits by using the lease factor on the money advanced.
Banks also charge points for a loan advance on a project. You can do the same on a lease, in addition to the monthly payment on the money advanced. 2% is a common fee for a “master lease.” Many charge more. There is extra work and changes are accommodated along the way.
Not only does the “Warehouse Line” allow you to create more sales, but more income too. You are not only collecting on the increased rate in the sell, but the principal too (which is all profit in interim rent.) Or you can charge points or a loan fee.
Many banks and funders will issue these lines of credit based on viewing the credit of the company obtaining the “master lease” and/or viewing the approval from the company who is going to fund the transaction, rather than your own net worth or history. Of course, the better your credit, net worth, and history, the larger the line of credit with better terms.
Start out small and grow your relationship with a local bank. When you are able, have a second bank, which will help in negotiations with the first bank, and perhaps more importantly, if one bank changes the terms and conditions, you have a second backup with no business disruption.
Again, it depends on your personal and/or company’s creditworthiness as to what you may obtain. It also depends if it is a community bank or regional bank or your personal relationship, meaning your network of friends. If you can refer customers to the bank, you will strengthen your relationship.
The idea is to start, manage it well, and with history be able to increase the line of credit. And you don’t have to service the loan. You can let the bank collect the payments, or better yet, there are many “back offices” that do all this work.
Another piece of advice is to only use the line for lessees within an an hour’s driving distance from your office. You can visit them. See what is going on.
Have a better relationship and anticipate pitfalls. At least, do this in the beginning to learn as well as strengthen your relationship with the bank.
The “Warehouse Line” has many other uses today. It has enabled small lessors to both get away from recourse lines and seek non-recourse lines, often at lower rates, plus attract more sales either directly and/or through others lessors in different marketplaces.
Most of the leasing companies today use a warehouse line to either securitize or sell portfolio’s or use them for a larger line of credit, basically another warehouse line in reality. It often is also a means to take a “deal off the street” while a search is made for the “take out.” Many funders further discount portfolio’s, often at non-recourse or with a hold back, based on the residual value.
Back Office Companies
Classified Ads Back Office Companies
Details Emerged about the OnDeck
-JP Morgan Chase Deal
Chase Center, San Francisco, 2019
On December 30th, 2015, the Wall Street Journal revealed details about the OnDeck — JPMorgan Chase partnership not previously known. They include:
- OnDeck will get fees to originate and service loans for Chase up to $250,000
- Chase's small business loans will have terms of 6, 9, and 12 months
- Chase customers won't know OnDeck is involved at all
- OnDeck will not get Chase's declines
- OnDeck will process Chase's business loan applications in a matter of hours instead of weeks
The most notable detail is that Chase will be doing small business loans with 6-12 month terms, a timetable that has typically been the domain of non-bank tech-based lenders.
Source: deBanked Magazine
Free Newsletter and print Magazine: http://debanked.com/subscribe.php
((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)
Leasing News Advisor
Armon L. Mills, President and Publisher
San Diego Business Journal
4909 Murphy Canyon Road, Suite 200
San Diego, CA 92123
Direct Phone: 858.277.6795
Armon Mills joined the Leasing News Advisory Board on February 5, 2004. In reality, he was quite instrumental and was the first to give Kit Menkin advice to incorporate, trade mark, and develop what were originally e-mails about what was happening in the equipment leasing industry sent to friends. Kit served on all Armon’s advisory boards; is a personal friend of he and his family. He and Armon often had lunch together often when Armon was located in San Jose, California. They also both served on community non-profit organizations as officers, including chairmen and presidents, working on projects together. Armon has been a mentor to several publishers, many of them across the nation, running the various Business Journals and other media.
In January of 2011, Armon joined J.H. Cohn LLP as Director of Practice Development, Southern California Region.
In 2013 Armon returned to the San Diego Business Journal as President and Publisher.
Armon earned a Bachelor of Arts degree in Business Administration from Southwestern College in Winfield, Kansas. He also earned his Certified Public Accountant certificate from Kansas in 1967.
Armon began his career in public accounting with the national CPA firm of Fox & Company. Armon joined the firm in January of 1964. His career with Fox included 11 ½ years on the audit staff including promotions to manager on June 1, 1968 and was admitted as a full Partner on June 1, 1970. He was a partner with the firm for 14 years and managing partner of Fox & Company offices for nine years in:
St. Louis, Missouri from July 1, 1975 to December 31, 1977
Kansas City, Missouri from January 1, 1978 to July 31, 1981
Minneapolis, Minnesota from August 1, 1981 to July 30, 1984.
Armon was recruited to American City Business Journals on July 31, 1984 as President and Chief Operation Officer. He was in that position for two and a half years during which time the company grew from four Business Journals in Kansas City, Missouri, San Jose, California, Milwaukee, Wisconsin and Portland, Oregon to 35 Business Journals covering the United States from coast to coast and Hawaii. He was also President and Chief Operating Officer when American City Business Journals went public with an IPO on July 18, 1985.
Armon moved to Phoenix, Arizona in 1987 to be Publisher of the Business Journal serving Phoenix and the Valley of the Sun. He and his family moved to the Bay area in 1991 where he was Publisher of business publications in San Jose and Silicon Valley before moving to San Diego in 2004 to become President and publisher of the San Diego Business Journal. Under my leadership, the San Diego Business Journal increased its’ bottom line net operating income 370 percent from 2003 to 2007.
Armon was active in many community organizations. While in San Jose, he served as chair of the Board of Directors of the San Jose/Silicon Valley Chamber of Commerce, The Santa Clara County Salvation Army, YMCA of Santa Clara Valley and the Silicon Valley Capital Club. He was a previous member of the Board of Directors for the Silicon Valley Chapter of Commonwealth Club of California, San Jose Sports Council, American Red Cross, Santa Clara County Boy Scouts of America, March of Dimes, Valley Medical Center Foundation, United Way, San Jose Repertory Theater, The American Heart Association, the Santa Clara County Arts Council and Treasurer and Chair of the Finance Committee for the San Jose Convention and Visitors Bureau. Armon also chaired the 1995 KTCH Channel 54 Public Television Station fund-raising auction and is a past member of their Board of Directors. He served on the board of the Alliance of Area Business Publications from 1986 to 1989 and was President of the Association in 1988. He was an active member of the San Jose Rotary Club for over 12 years.
Armon has received several community and business awards which include:
Media Advocate of the Year – 1997
U.S. Small Business Administration San Francisco District
Silver Hope Award – 1997
National Multiple Sclerosis Society
Distinguished Citizen Award – 1998
Santa Clara County Council of Boy Scouts of America
Leadership Excellence Award – 1998
San Jose/Silicon Valley Chamber of Commerce
Silver Beaver Award – 2001
Santa Clara County Council of Boy Scouts of America
Business Hall of Fame – 2002
Southwestern College – Winfield, Kansas
Joint Civilian Orientation Conference (JCOC)
Class of 70 –October, 2005
Selected by the Department of Defense to visit military bases and operations in Germany, United Kingdom and Italy.
Armon is continuing his strong commitment to the community here in San Diego. He is the past Chair of the Board of Directors of the San Diego Police Foundation. He is a member of Rotary Club #33 and a past member of the Board of Directors of LEAD San Diego. Armon is on the board of the San Diego Better Business Bureau. He is also a member of the National University Holiday Bowl Committee and the San Diego Credit Union Poinsettia Bowl Committee. Armon is the Finance Chair of the New Majority of California and serves on their state board of directors. Armon is also on the Leasing News Advisory Board.
Armon has been married to his wife Sandra for over 36 years and has four adult children, Kathryn, Marnie, Darin and Trina.
Burlingame, California - Adopt a Dog
White with Black
Good with Dogs
Up-to-date with Vaccines
Greetings, I am the majestic Pongo. I'm a 1 year old neutered male Dalmatian mix - you like my spots?? I'm a big boy at 65 pounds and am pretty strong so strong owners who have some prior experience with big dogs would be best for me. I get excited and can be jumpy, but I do know some basic commands, as you can see from my photos. I'm told that makes me more of a funny guy, and that's just fine with me. I get along with some dogs but I can be particular so we'll have to meet ahead of time to make sure that we're a good match. The shelter's experience and time with me so far tells them that my new adopter and I would benefit greatly from an obedience class. In this case, it is required of my new adopter. I'm looking forward to meeting you! Ask for Pongo, #A592348.
Peninsula Humane Society & SPCA
Tom and Annette Lantos Center for Compassion,
1450 Rollins Rd., Burlingame
Hours are M-F, 11 am to 7 pm
11 am to 6 pm on weekends.
Adopt a Pet
This Day in American History
1761 - James Otis voices opposition to English colonial rule in a speech before the Supreme Court of Massachusetts. In 1761, the merchants of Boston hired attorney James Otis to give a speech against the writs of assistance, a general warrant which was issued for the life of the sovereign to search "any House, shop, Cellar, Warehouse or Room or other Place.” Customs officers could ask anyone to help with the writ, which was the reason for its name. Young attorney John Adams, who later became the second President of the United States, heard the speech, and was so inspired by it that he wrote a provision for the Massachusetts Declaration of Rights based on the arguments Mr. Otis made. The language later formed the basic language of the Fourth Amendment to the United States Constitution. The battle against the writs of assistance, and the Otis speech, was one of the major opening chapters in the American colonists' struggles against tax tyranny that led to the American Revolution. The speech generated much excitement.
1786 - Charles Cornwallis, whose armies had surrendered to US at Yorktown, was appointed Governor-General of India.
1803 – In Marbury v. Madison, the United States Supreme Court declared a federal law unconstitutional for the first time. Chief Justice John Marshall wrote the opinion for the court. He held that it was the duty of the judicial branch to determine what the law is. His opinion established the power of judicial review—that is, the court's authority to declare laws unconstitutional.
1811 - Bishop Daniel Alexander Payne (d. 1893), sixth Bishop of the African Methodist Episcopal (A.M.E.) Church and a founder of Ohio's Wilberforce University, was born to free black parents in Charleston, South Carolina. Named for English abolitionist Lord William Wilberforce, Wilberforce University in Xenia, Ohio was the first black-owned college in the United States. Payne was named the university's president in 1863, becoming the nation's first black college president.
1831 - The Treaty of Dancing Rabbit Creek, the first removal treaty in accordance with the Indian Removal Act, was proclaimed, having been signed on September 27, 1830. The Choctaws in Mississippi cede about 11 million acres in exchange for about 15 million acres in the Indian Territory (now Oklahoma.
1836 - Home Winslow (d. 1920) was born at Boston. American artist noted for the realism of his work, from the Civil War reportage to the highly regarded rugged outdoor scenes of hunting and fishing.
1836 - Texan Colonel William Travis sends a desperate plea for help for the besieged defenders of the Alamo, San Antonio, Texas, with the famous last words, "Victory or Death." On March 6, the Alamo, where 182 Texans were garrisoned, was captured by the Mexican leader Gen. Antonio Lopez de Santa Anna, who had led over 3000 troops across the Rio Grande. Every Texan except a mother, a child, and a servant was killed. “Remember the Alamo” became a battle cry that brought Texans and friends from neighboring states together that eventually formed the Republic of Texas. The movie in the 1950's “Davey Crockett,” would bring the event to worldwide attention as he died in the Alamo along with Colonel Travis, making the “Bowie” knife and coonskin cap famous (as a point of history, Crockett never wore a coonskin cap. He was a former legislator and well-educated man for his time, not a hick or country bumpkin as the role Fess Parker made famous.)
1852 - The Susquehanna River ice bridge at Havre de Grace, Maryland began to break up after 40 days of use. A total of 1738 loaded freight cars were hauled along the rails laid on the ice.
1857 - Los Angeles Vineyard Society organized by two men in San Francisco named Charles Kohler and James Frohling who were looking for an area to establish a vineyard colony. Kohler and Frohling formed the Society with a group of German immigrants. George Hansen, a Los Angeles surveyor, was selected to find an ideal site for their planned community. He found it on the Rancho San Juan Cajon de Santa Ana, which was then in Los Angeles County. Plans were formed for the new town, which was named "Anaheim," but known to their Spanish-speaking neighbors as "Campo Aleman." Although the first settlers arrived in town in 1859, it was not until 1870 that the city was first organized as a municipality.
1863 - Arizona was recognized as a US territory. It was first organized as a Confederate territory on Feb. 14, 1862.
1864 - Battle of Tunnel Hill, GA (Buzzard's Roost). This started as a skirmish on February 22 but grew into a battle that lasted until February 25. This was the second of four major Civil War battles here as the location includes a nearby 1,497 feet long railroad tunnel through Chetoogeta Mountain. The railroad tunnel was the first to be completed south of the Mason-Dixon Line.
1867 - In a showdown over reconstruction policy following the Civil War, the House of Representatives voted to impeach President Andrew Johnson. During the two years following the end of the war, the Republican-controlled Congress had sought to severely punish the South. Congress passed the Reconstruction Act that divided the South into five military districts headed by officers who were to take their orders from General Grant, the head of the army, instead of from President Johnson. In addition, Congress passed the Tenure of Office Act, which required Senate approval before Johnson could remove any official whose appointment was originally approved by the Senate. Johnson vetoed this act but the veto was overridden by Congress. To test the constitutionality of the act, Johnson dismissed Secretary of War Edwin Stanton, triggering the impeachment vote. While Johnson was not pro civil rights, he was pro South. In fact, one of his last acts of office in December was to pardon Jefferson Davis, who was on trial for treason. Stanton was very much anti-South and harbored many ill feelings, basically because of his blundering of military assignments to “society” generals. On Mar 5, 1868, the Senate convened as a court to hear the charges against the President. The Senate vote of 35—19 fell one vote short of the two-thirds majority needed for impeachment. Thus the South became Dixie Democrats until modern times. The 1868 presidential election was close, with Ulysses S. Grant's popular majority a scant 306,000 out of 5,717,500 votes, although the electoral vote was 214 Grant to 80 for Republican Horatio Seymour. The black vote, which totaled over 700,000, decided the election for Grant. In 1872, Grant beat Republican Candidate Horace Greely 3,597,132 to 2,384,124. The electoral vote was 286 to 66. History changed and the Democratic Dixiecrats destroyed reconstruction and controlled the house with an inside deal to give. [Is this related to 1868 or 1872???]The election had been thrown back to Congress before, such as the one between Aaron Burr and Thomas Jefferson. This was the first time the nation faced a dispute over the results of a presidential election. A candidate needed 185 electoral votes to win and Samuel J. Tilden the Democratic candidate, clearly had 184. In dispute were the 19 electoral votes of three states till under carpetbag rule---Florida, Louisiana, and South Carolina---plus one vote in Oregon. In Congress both parties agreed on January 29, 1877 to establish an electoral commission to decide the issue. The commission, with five members from each house of Congress, and five members from the Supreme Court, was made up of eight Republicans and seven Democrats. All the commission's decisions were to fall along party lines. On March 2, Congress accepted the commission's decision, which awarded all the disputed votes to the Republican candidate, Rutherford B. Hayes, who thus received 185 electoral votes to Tilden's 184. The Republicans were accused of offering southern Democrats economic favors for their region if they supported Hayes's claim. In any event, the new president showed a conciliatory attitude toward the South: all the programs in place that had elected blacks to office, given them property and protection were removed, and the last federal troops were withdrawn and there was no further effort to protect the rights of blacks. Reconstruction was over.
1868 - 1st US parade with floats (Mardi Gras-Mobile AL)
1874 – Birthday of Honus Wagner (d. 1955), born Johannes Peter Wagner in Chartiers (now Carnegie), PA. He played 21 seasons in the Majors from 1897 to 1917, almost entirely for the Pittsburgh Pirates. Wagner won eight batting titles, tied for the most in National League history with Tony Gwinn. He also led the league in slugging six times, and in stolen bases five times. Wagner was nicknamed "The Flying Dutchman" due to his superb speed and German heritage ("Dutch" in this instance being an alteration of "Deutsch"). In 1936, the Baseball Hall of Fame inducted Wagner as one of the five charter members. He received the second-highest vote total, behind Ty Cobb and tied with Babe Ruth. Although Cobb is frequently cited as the greatest player of the dead-ball era, some contemporaries regarded Wagner as the better all-around player, and most baseball historians consider Wagner to be the greatest shortstop ever. Cobb himself called Wagner "maybe the greatest star ever to take the diamond."
1885 - Birthday of Chester Nimitz (d. 1966), Fredericksburg, TX. Admiral who was Commander-in-Chief, US Pacific Fleet (CinCPac), for U.S. naval forces and Commander in Chief, Pacific Ocean Areas (CinCPOA), for U.S. and Allied air, land, and sea forces during World War II. Nimitz signed for the United States when Japan formally surrendered on board the USS Missouri. On October 5, 1945, which had been officially designated as "Nimitz Day" in Washington, DC, Admiral Nimitz was personally presented a Gold Star for the third award of the Distinguished Service Meal by President Harry Truman "for exceptionally meritorious service as Commander in Chief, U.S. Pacific Fleet and Pacific Ocean Areas, from June 1944 to August 1945...."
1891 - The term "honky tonk" introduced, appearing in an Oklahoma paper, The Daily Ardorite, which reports "the honk-a-tonk last night was well attended." The word is most likely a Creole derivative, but could not find a definitive source. “Honkey” or "Honkie" might be its original source or a “spin-off.”
1895 – Revolution broke out in Baire, a town near Santiago de Cuba, beginning the Cuban War of Independence, that ended with the Spanish-American War in 1898.
1897 - Emile Berliner took out a Canadian patent on his gramophone talking machine. Manufacturing facilities were set up in Montreal. Berliner had built a crude model of his machine ten years earlier at his home laboratory in Washington, DC, and he applied for a US patent on it on September 26th, 1887. Today the terms "gramophone" and "phonograph" mean the same thing. But in Berliner's day this was not so. "Gramophone" referred to a talking machine employing lateral-cut discs, while the phonograph, invented by Thomas Edison, used vertical-cut cylinders. Berliner's discs eventually made Edison's cylinders obsolete. Berliner also invented the microphone, which we still use today.
1905 - The temperature at Valley Head, Alabama fell to 18 degrees below zero. This was the coldest temperature ever recorded in Alabama until January 30, 1966 when it reached -27 at New Market.
1909 - The Hudson Motor Car Company, founded by Joseph Hudson, in Detroit, Michigan, was incorporated. Hudson is perhaps most famous for its impact on NASCAR racing, which it accomplished thanks to a revolutionary design innovation. Hudson's strong, light-weight bodies, combined with its high-torque inline six-cylinder engine technology, made the company's 1951–54 Hornet an auto-racing champion, dominating NASCAR in 1951, 1952, 1953, and 1954. Some NASCAR records set by Hudson in the 1950s (e.g. consecutive wins in one racing season) still stand even today. The company made Hudson, Essex and Triplane brands from 1909 to 1954. In 1954, Hudson merged with Nash-Kelvinator Corporation to form American motors (AMC). The Hudson name was continued through the 1957 model year, after which it was discontinued.
1910 - Arranger/Pianist Clyde Hart born Baltimore, MD, died March, 1945
(Ben Webster talks about Clyde Hart:
(CD had Clyde Hart All-stars with Charlie Parker and Dizzy Gillespie)
Una Mae Carlise Orchestra
1912 - Hadassah: Twelve members of the Daughters of Zion Study Circle met at New York City under the leadership of Nerietta Szoid. A constitution was drafted to expand the study group into a national organization called Hadassah (Hebrew for “myrtle” and the biblical name of Queen Esther) to foster Jewish education in America and to create public health nursing and nurses training in Palestine. Hadassah is now the largest women's volunteer organization in the US with 1,500 chapters rooted in health care delivery, education and vocational training, children's villages and services and land reclamation in Israel.
1912 - Labor activist Elizabeth Gurley Flynn heads "Bread & Roses" Lawrence Textile Strike of 20,000 women in Lawrence, Massachusetts. Police attack 150 children & their parents at the town railroad station. Many strikers are sending their kids to safe homes with friendly families in other cities. The exodus has generated so much publicity that Lawrence authorities have resolved to crush it. They forced 35 women and their children into patrol wagons. After charging the women with neglect and handing jail sentences and fines to the organizers, the town fathers send 10 of the kids to the Lawrence poor farm. This prompts only more publicity, forcing Congress to investigate the strike. Sixteen children will testify, describing the poverty that led them to leave school and take jobs in the mill. The American Woolen Company will have no choice but to yield to the strikers' demands.
1921 - Abe Vigoda (d. 2016) was born in Brooklyn. He was known for a number of roles, especially his portrayals of Salvatore Tessio in “The Godfather” and Detective Sgt. Phil Fish on the sitcom “Barney Miller” from 1975 to 1977 and its spinoff show “Fish” from 1977 to 1978. http://www.zxcproductions.com/web/Abe/abe.html
1927 - West Coast bassist Ralph Pena (d. 1969) was born in Jarbridge, NV. He played with Pete Jolly and was also popular at the Lighthouse in Hermosa Beach, California, where we saw him play often with many jazz groups.
1928 - In its first show to feature a Black artist, the New Gallery of New York exhibits works of Archibald Motley.
1930 - Ted Lewis records, "On the Sunny Side of the Street"
1932 - Composer Michel Legrand born Paris, France
1933 - Tenor Sax David “Fathead” Newman (d. 2009) Birthday
1936 - Vermont and New Hampshire received brown snow due to dust from storms in the Great Plains Region. A muddy rain fell across parts of northern New York State. (24th-25th) (David Ludlum) (The Weather Channel)
1938 – Phil Knight, the founder of Nike, was born in Portland, OR. In November, 2015, Forbes named Knight the 15th richest person in the world, with an estimated net worth of $28.1 billion. He is also the owner of the stop motion film production company Laika. A graduate of the University of Oregon and Stanford Graduate School of Business, he has donated hundreds of millions of dollars to both schools; Knight gave the largest donation in history at the time to Stanford's business school in 2006. A native Oregonian, he ran track under coach Bill Bowerman at the University of Oregon, with whom he would co-found Nike.
1940 - On Decca Records, Frances Langford recorded "When You Wish Upon a Star" during a session held in Los Angeles, California. Many artists have recorded that particular song, including Linda Ronstadt with the Nelson Riddle Orchestra in the early 1980s. The song can also be heard in the opening credits of any Disney movie, video or television program.
1941 - '60s pop singer Joanie Sommers was born Joan Drost in Buffalo, NY. Once billed as "The Voice of the Sixties", and associated with top-notch arrangers, song-writers and producers, Sommers' popular reputation became closely tied to her biggest, yet most uncharacteristic, hit song "Johnny Get Angry," in 1962, which reached #7 on the Billboard Hot 100.
1942 - Harry James records “Trumpet Blues and Cantabile” (Col. 36549)
1942 - The Army, mistaking a weather balloon that strayed over Los Angeles for a Japanese bomber, unleashes a saturation antiaircraft barrage. Three civilians are trampled to death in the attending panic, and dozens more injured by falling shrapnel. The Japanese later in the war deployed large balloons with bombs, most landed in Oregon and Northern California, causing damage, but was kept out of the news, and the Japanese thinking they were not effective, ended the program. The press was told not to print any stories as if the Japanese learned how effective and inexpensive it was for them to release balloons with bombs in the jet stream, it may have destroyed many cities on the West Coast.
1943 – “The Human Comedy,” a novel written by William Saroyan, was published on this date in New York.
1943 - George Harrison (d. 2001) was born in Liverpool, England. As a member of The Beatles, he achieved international fame as the lead guitarist. In June, 1965, Harrison and the other Beatles were appointed Members of the Order of the British Empire. They received their insignia from Queen Elizabeth at an investiture at Buckingham Palace. In 1971, the Beatles received an Academy Award for the best Original Song Score for the film “Let It Be.” In December, 1992, he became the first recipient of the Billboard Century Award, an honor presented to music artists for significant bodies of work. Rolling Stone magazine ranked him number 11 in their list of the "100 Greatest Guitarists of All Time". In 2004, Harrison was posthumously inducted into the Rock and Roll Hall of Fame as a solo artist and into the Madison Square Garden Walk of Fame in 2006 for the Concert for Bangladesh. On 14 April 2009, the Hollywood Chamber of Commerce awarded Harrison a star on the Walk of Fame in front of the Capitol records Building. Among his songs: “My Sweet Lord,” “Isn't It a Pity,” “What is Life?,” “All Those Years Ago.” As an actor: “A Hard Day's Night,” “Help!,” “The Beatles,” “Magical Mystery Tour,” “Yellow Submarine,” “Let It Be,” “The Concert for Bangladesh,” “Shanghai Surprise,” “You Can't Do That!,” “The Making of ‘A Hard Day's Night'.” Harrison believed for most of his life his birthday was Feb 25 but a family birth record has his birth at near 11:50 p.m. Feb 24.
1944 - "Merrill's Marauders" hit Burma. The Marauders' mission began with a 1,000-mile walk through dense jungle, without artillery support, consisting of five major and 30 minor engagements with a far more numerous Japanese enemy. They had to carry their supplies on their backs and on pack mules, and were resupplied only with airdrops in the middle of the jungle. Merrill's Marauders succeeded in maneuvering behind Japanese forces to cause the disruptions necessary to throw the enemy into confusion. They were so successful, the Marauders managed even to capture the Myitkyina Airfield in northern Burma.
1947 - Bass player Bob Magnusson born New York City, NY,
1951 - Top Hits
“If” - Perry Como
“My Heart Cries for You” - Guy Mitchell
“Tennessee Waltz” - Patti Page
“There's Been a Change in Me” - Eddy Arnold
1955 – President Dwight Eisenhower met with newspaper publisher Roy Howard and expressed his resistance under pressure to commit American troops to Vietnam. The conversation was recorded on a dictabelt machine that Eisenhower had secretly installed in the President’s office.
1955 - Steven Jobs (d. 2011), co-founder of Apple Computer, was born Los Altos, CA. Jobs started out selling his friend Stephen Wozniak's computers door-to-door at electronic hobbyist shops. By 1979, Apple Computer had become the fastest growing company in history, worth more than $1 billion. That year, Jobs led a team of several Apple developers, working on a new project called Lisa, on a visit to Xerox Palo Alto Research Center, where the team saw the Alto, an early computer with a graphical user interface using icons, a mouse, and built-in networking capacity. Both the Lisa and the Macintosh adopted key elements of the Alto. Jobs, whose impulsive personal style irritated some of Apple's key managers, was forced to leave Apple in 1985. He formed NeXT Inc., became president of Pixar animation studios, and returned to Apple in 1997 as acting president. He turned both ventures into giant money making companies, winning awards, dominating the music market with the iPod. The company changed their name to Apple Inc. to reflect their diversification.
Jobs is credited with the company's tremendous success. Under his direction the company grew from computers to portable music players, portable wireless telephones, and now the IPAD, which revolutionized the computer industry as Jobs did to both the music industry and telephone/web industry. The Apple computer is considered the finest by architects, graphic designers, and web designers, as well as other aficionados. Jobs was also the CEO of Pixar Animation Studios until it was acquired by the Walt Disney Company in 2006. Jobs was the Walt Disney Company's largest individual shareholder and a member of its Board of Directors. Jobs was diagnosed with a pancreatic neuroendocrine tumor in 2003 and died of respiratory arrest related to the tumor
1956 - Need an adult to dance in Cleveland: Now the home of the Rock and Roll Hall of Fame, Cleveland invoked a 1931 law barring people under 18 from dancing publicly without an adult guardian.
1959 - Top Hits
“Stagger Lee” - Lloyd Price
“Donna” - Ritchie Valens
“The All American Boy” - Bill Parsons
“Don't Take Your Guns to Town” - Johnny Cash
1963 - The Rolling Stones take over as the Sunday house band at the Station Hotel, near London. They are paid £24 ($67) to entertain a crowd of 66 people.
1967 - WILBANKS, HILLIARD A., Medal of Honor
Rank and organization: Captain, U.S. Air Force, 21st. Tactical Air Support Squadron, Nha Trang AFB, RVN. Place and date: Near Dalat, Republic of Vietnam, 24 February 1967. Entered service at: Atlanta, Ga. Born: 26 July 1933, Cornelia, Ga. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. As a forward air controller Capt. Wilbanks was pilot of an unarmed, light aircraft flying visual reconnaissance ahead of a South Vietnam Army Ranger Battalion. His intensive search revealed a well-concealed and numerically superior hostile force poised to ambush the advancing rangers. The Viet Cong, realizing that Capt. Wilbanks' discovery had compromised their position and ability to launch a surprise attack, immediately fired on the small aircraft with all available firepower. The enemy then began advancing against the exposed forward elements of the ranger force which were pinned down by devastating fire. Capt. Wilbanks recognized that close support aircraft could not arrive in time to enable the rangers to withstand the advancing enemy, onslaught. With full knowledge of the limitations of his unarmed, unarmored, light reconnaissance aircraft, and the great danger imposed by the enemy's vast firepower, he unhesitatingly assumed a covering, close support role. Flying through a hail of withering fire at treetop level, Capt. Wilbanks passed directly over the advancing enemy and inflicted many casualties by firing his rifle out of the side window of his aircraft. Despite increasingly intense antiaircraft fire, Capt. Wilbanks continued to completely disregard his own safety and made repeated low passes over the enemy to divert their fire away from the rangers. His daring tactics successfully interrupted the enemy advance, allowing the rangers to withdraw to safety from their perilous position. During his final courageous attack to protect the withdrawing forces, Capt. Wilbanks was mortally wounded and his bullet-riddled aircraft crashed between the opposing forces. Capt. Wilbanks' magnificent action saved numerous friendly personnel from certain injury or death. His unparalleled concern for his fellow man and his extraordinary heroism were in the highest traditions of the military service, and have reflected great credit upon himself and the U.S. Air Force.
1967 - Top Hits
“Kind of a Drag” - The Buckinghams
“Love is Here and Now You're Gone” - The Supremes
“The Beat Goes On” - Sonny & Cher
“Where Does the Good Times Go” - Buck Owens
1969 - LEVITOW, JOHN L., Medal of Honor
Rank and organization: Sergeant, U.S. Air Force, 3d Special Operations Squadron. Place and date: Long Binh Army post, Republic of Vietnam, 24 February 1969. Entered service at: New Haven, Conn. Born: 1 November 1945, Hartford, Conn. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Sgt. Levitow (then A1c.), U.S. Air Force, distinguished himself by exceptional heroism while assigned as a loadmaster aboard an AC-47 aircraft flying a night mission in support of Long Binh Army post. Sgt. Levitow's aircraft was struck by a hostile mortar round. The resulting explosion ripped a hole 2 feet in diameter through the wing and fragments made over 3,500 holes in the fuselage. All occupants of the cargo compartment were wounded and helplessly slammed against the floor and fuselage. The explosion tore an activated flare from the grasp of a crewmember who had been launching flares to provide illumination for Army ground troops engaged in combat. Sgt. Levitow, though stunned by the concussion of the blast and suffering from over 40 fragment wounds in the back and legs, staggered to his feet and turned to assist the man nearest to him who had been knocked down and was bleeding heavily. As he was moving his wounded comrade forward and away from the opened cargo compartment door, he saw the smoking flare ahead of him in the aisle. Realizing the danger involved and completely disregarding his own wounds, Sgt. Levitow started toward the burning flare. The aircraft was partially out of control and the flare was rolling wildly from side to side. Sgt. Levitow struggled forward despite the loss of blood from his many wounds and the partial loss of feeling in his right leg. Unable to grasp the rolling flare with his hands, he threw himself bodily upon the burning flare. Hugging the deadly device to his body, he dragged himself back to the rear of the aircraft and hurled the flare through the open cargo door. At that instant the flare separated and ignited in the air, but clear of the aircraft. Sgt. Levitow, by his selfless and heroic actions, saved the aircraft and its entire crew from certain death and destruction. Sgt. Levitow's gallantry, his profound concern for his fellowmen, at the risk of his life above and beyond the call of duty are in keeping with the highest traditions of the U.S. Air Force and reflect great credit upon himself and the Armed Forces of his country.
1969 - Johnny Cash recorded his second live prison performance, this one at San Quentin, Marin County, California. It followed a concert the previous year at Folsom Prison. The LP "Johnny Cash at San Quentin" topped the Billboard pop and country charts. It also contained the hit single "A Boy Named Sue."
1970 – Former Niners and Eagles QB Jeff Garcia was born Gilroy, CA.
1970 - Simon and Garfunkel's "Bridge Over Troubled Water" hits #1
1971 - Janis Joplin's "Pearl" goes gold.
1972 - Birthday of Manon Rheaume, Beauport, Quebec. She is the first woman to play in a professional hockey game. Rheaume was goaltender when Canada won the 1992 and 1994 world championships as a member of Canada's women's national team and was MVP of both tournaments. In 1986, she goaled the national team to the Olympic silver. "In 1992, Rheaume made sports history by appearing in an NHL exhibition game for the Tampa Bay Lightning, thus becoming the first female to play in a major professional sport. She continued her pro hockey career with various men's minor league teams but in 1995, she turned to professional roller hockey playing for the New Jersey Rock 'n Rollers." Small for her position, she is 5' 6" with a playing weight of 130 lbs.
1973 - With Roger McGuinn remaining the only original member, The Byrds made their final live appearance when they played at The Capitol Theatre, in Passaic, New Jersey.
1973 - Roberta Flack's “Killing Me Softly With His Song” jumped to Number 1 on Billboard's hit record charts, and remained there for 5 weeks. It was rumored that the subject of her song was folk singer Don McLean. Actually it was not, as the original singer, Lori Leiberman, was “inspired” by a McLean song and got a songwriter, Norman Gabriel, to make a few changes.
1975 - Top Hits
“Pick Up the Pieces” - AWB
“Best of My Love” - The Eagles
“Some Kind of Wonderful” - Grand Funk
“I Care” - Tom T. Hall
1976 - The Eagles "Greatest Hits" became the first LP in the US to be certified platinum with two-million copies sold.
1976 - At the Grammy Awards in Los Angeles, Paul Simon picks up Best Pop Vocal and Best Album awards for “Still Crazy After All These Years,” leading him to famously remark, in his acceptance speech, "I'd like to thank Stevie Wonder for not releasing an album this year."
1976 - Rhythm Heritage's "Theme From S.W.A.T." hits #1
1978 - Barry Manilow shared the stage with Ray Charles during The Second Barry Manilow Special, dueting on "It's a Miracle". Manilow had just enjoyed a Top Ten hit with "Looks Like We Made It" and would follow with "Can't Smile Without You", "Even Now", "Copacabana" and "Ready to Take a Chance Again" during the next few months.
1978 - The Pointer Sisters, now down to a trio after Bonnie Pointer had left for a solo career, enjoy their biggest US hit when the Bruce Springsteen written "Fire" tops out at Billboard's #2.
1979 - The Jefferson Starship releases the greatest hits LP "Gold" which eventually makes the top-20 on Billboard's LP chart.
1980 - Hockey Teams Wins Gold: Two days after defeating the Soviet Union 4-3, the US hockey team won the gold medal at the XIII Winter Olympic Games by beating Finland, 4-2.
1981 - School Headmistress and Socialite Jean Harris is convicted of murdering "The Scarsdale Diet" doctor, Herman Tarnower. Harris and Tarnower had been a couple since they met in 1966. However, Tarnower was a notorious womanizer who never followed through on his vague promises to marry the 56-year-old Harris. In the late 1970s, Harris discovered that Tarnower was having an affair with a younger woman. Nonetheless, she assisted him in writing and editing “The Complete Scarsdale Medical Diet,” which became a surprise sensation, earning Tarnower wealth and fame. Harris later claimed that she went there with suicidal intentions. However, the fact that Tarnower was shot four times seemed to belie her defense. Rather than maintain that she had killed in the heat of the moment, which would have dealt a manslaughter conviction, Harris insisted that the shooting was an accident. Her gamble (or insistence on principle) failed when the jury convicted her of murder and gave her a life sentence. Harris was a model prisoner who used every opportunity to bring attention to the plight of women prisoners. She wrote the well- received “They Always Call Us Ladies” in 1988, and finally won parole in 1993.
1981 - Boston Celtics begin 18 NBA game win streak
1982 - Wayne Gretzky, 21-year-old center for the Edmonton Oilers, scored his 77th goal of the season against the Buffalo Sabres to break Phil Esposito's single-season goal-scoring record. With Esposito, who had scored 76 goals in the 1970-71 season, in attendance, Gretzky stole the puck and broke a 3-3 tie with seven minutes to play. He added two more goals in the game's final two minutes and finished the season with 92 goals.
1982 - The 1981 Grammy Award winners are announced. Kim Carnes wins Record and Song of the Year with "Bette Davis Eyes," while John Lennon and Yoko Ono win Album of the Year with "Double Fantasy."
1983 – Dow Jones average for the first time closed above the 1100 mark, after the stock market moved 24.87 points to close at 1121.81. In 1972, the 1100 plateau had been reached, but a rally could not keep the benchmark high at that point until the end of the trading day.
1983 - Top Hits
“Baby, Come to Me” - Patti Austin with James Ingram
“Shame on the Moon” - Bob Seger & The Silver Bullet Band
“Stray Cat Strut” - Stray Cats
“Faking Love” - T.G. Sheppard & Karen Brooks
1983 - A special commission of Congress released a report that condemned the internment of Japanese during World War II. It was silent on the same treatment of Italians and Germans.
1985 - Quarterback Doug Flutie played his first professional game, leading the New Jersey Generals against Birmingham, to a 38-28 loss. The former Boston College star had a rough start in his USFL debut, but completed 12 of 18 passes in the game's fourth quarter. I bring this up as he is my double cousin on my mother's side (son of my mother's sister's son.)
1985 - Yul Brynner reprised his "The King and I" role, setting an all-time box office weekly receipt record when the show took in $520,920.
1987 - Not a Welk Tune: A spokeswoman for bandleader Lawrence Welk said some Welk fans who bought his "Polka Party" compact disc ended up with the punk rock soundtrack to the movie "Sid and Nancy." The Welk Enterprises office in Los Angeles fielded several telephone calls from upset fans. The CD's apparently were mislabeled at the factory in Japan.
1987 - The Los Angeles Lakers' Kareem Abdul-Jabbar made his first three-point shot. At this date, the leading scorer in NBA history had reached 36,000 points, but until now, Kareem never scored over two at a time.
1987 - The 1986 Grammys are awarded: Paul Simon's "Graceland" wins Best Album; Steve Winwood's "Higher Love" wins Best Record and Bruce Hornsby and the Range win Best New Artist.
1987 - The massive winter storm continued to pound the western US in southern California. Big Bear was blanketed with 17 inches of snow and Lake Hughes reported 4 inches in one hour. Snow pellets whitened coastal areas of Orange and San Diego counties with 3 inches falling at Huntington Beach. Thunderstorms producing hail and waterspouts also occurred. In Colorado, Purgatory was buried under 62 inches of snow over a 4 day period and Colorado Springs had 14.8 inches in 24 hours to set a 24 hour snowfall record for February.
1988 - Strong winds produced snow squalls in the Great Lakes Region which created "white-out" conditions in eastern Upper Michigan. Squalls produced up to 14 inches of snow in Geauga County of northeastern Ohio.
1988 - Matt Nykanen of Finland, having already finished first in the 70-and 90-meter ski jumping events, won an unprecedented third gold medal in Nordic skiing when the Finnish team won the new 90-meter team jumping competition.
1989 - Jerry Jones announced the he had reached an agreement to buy the Dallas Cowboys from H.R. “Bum” Bright and that he had replaced Tom Landry, the only head coach in Dallas history, with University of Miami coach and former University of Arkansas teammate, Jimmy Johnson. Johnson coached the Cowboys from 1989 through 1993. He is one of only six men in NFL history to coach consecutive Super Bowl winners, winning in 1992 and 1993.
1989 - A total of thirty-three cities in the eastern U.S. reported new record low temperatures for the date, and an Atlantic coast storm spread heavy snow from Georgia to southern New England. Snowfall totals in New Jersey ranged up to 24 inches in Cape May County, with 19 inches reported at Atlantic City. Totals in North Carolina ranged up to 18 inches in Gates County, and winds along the coast of North Carolina gusted to 70 mph at Duck Pier. Strong winds gusting to 52 mph created blizzard conditions at Chatham, MA.
1989 – United flight 811, bound for New Zealand from Honolulu, ripped open during flight, blowing nine passengers out of the business-class section.
1990 - Strong northerly winds prevailed from Illinois to the Southern and Central Appalachians. Winds gusted to 68 mph at Sewickley Heights, PA. High winds caused considerable blowing and drifting of snow across northern and central Indiana through the day. Wind gusts to 47 mph and 6 to 8 inches of snow created white-out conditions around South Bend, IN. Traffic accidents resulted in two deaths and 130 injuries. Sixty-five persons were injured in one accident along Interstate 69 in Huntington County. Wind gusts to 60 mph and 4 to 8 inches of snow created blizzard conditions in eastern and northern Ohio. (The National Weather Summary) (Storm Data)
1991 - In the Gulf War, the ground campaign began with an Allied night attack. More than 14,000 Iraqis were captured in the first 24 hours of fighting. The Persian Gulf War, codenamed Operation Desert Storm, authorized by the U.N. and led by the U.S., began with an all-out air war against Iraq on January 15, 1991. Its objective was to drive Iraqi forces out of Kuwait, which Iraq had occupied since August 2, 1990. Ground action began February 24 and three days later, President George H. W. Bush halted the fighting with Iraqi forces routed. Iraq agreed to destroy its facilities for making chemical, nuclear, and biological weapons, but stalled the actual carrying out of the relevant UN resolution American casualties were 146 dead and 467 wounded. Iraq set fires to all the oil wells, gutted the hospitals, stole jewelry, automobiles, anything they could carry or drive. Kuwait, Saudi Arabia, Syria, and Turkey, all US allies in the Persian Gulf War, wanted the US presence out of the area as soon as possible.
1991 - Top Hits
“All the Man that I Need” - Whitney Houston
“One More Try” - Timmy -T-
“Someday” - Mariah Carey
“Walk on Faith” - Mike Reid
1992 - GM loses $4.45 billion: The greatest loss by a US company was suffered by the world's largest industrial company, General Motors Corporation, who announced they had a $4.45 billion loss for the year 1991.
1992 - The U.S. Postal Service unveils 2 versions of its proposed Elvis stamp for fans to vote on. Eventually, the younger Elvis wins and is issued on January 8, 1993
1992 - As of 2:45 am CST, International Falls, Minnesota had recorded 29.5 inches of snow for the month with snow still falling. This set a new monthly snowfall record for February. The old record was 29.0 inches set back in 1911. A new record was also set for winter season snowfall (Dec-Feb) with 68.5 inches. The old record was 67.9 inches.
1993 - British rock legend Eric Clapton, who had been virtually ignored in the Grammy Awards for most of his career, won six Grammys, including the music industry's three major awards - record, album and song of the year. Clapton was honored for his album "Unplugged," and the song "Tears in Heaven." Clapton wrote "Tears in Heaven" as a tribute to his infant son Conor, who died in 1991 when he fell out a window in Clapton's 53rd floor New York apartment.
1998 - Elton John is knighted by Queen Elizabeth II at Buckingham Palace in front of his parents and his partner David Furnish.
1998 – Andrea Boccelli, already an international singing sensation, released his second album, “Bocelli”, by Sugar Music. The album achieved double-platinum in Italy, sextuple platinum in Belgium, and quadruple platinum in both Germany and the Netherlands. His single song "Con te Partiro" topped the charts for 6 weeks in France, earning a triple-gold sales award. In Belgium, it became the biggest hit of all time, with 12 weeks at the top.
1998 – Henny Youngman, legendary comedian, at age 91, died in Manhattan following a debilitating bout of flu. Youngman, often called "King of the One-Liners" was best known for his trademark "Take my wife, please!" Using that line since the 1930's, he continued after his beloved wife Sadie died in 1987.
1999 - Radio shock jock Doug Tracht, known as "Greaseman", was suspended indefinitely and then ultimately fired for a race-related remark made on station WARW-FM in Washington, D.C. On that morning's radio show, Tracht had noted that the Grammy Awards ceremony were scheduled for that evening and played a portion of a song by Lauryn Hill, a young black hip-hop artist nominated for 10 Grammys. Then he commented, "No wonder people drag them behind trucks." The reference was to the torture and death in Texas of James Byrd, Jr., a black man decapitated while being dragged behind a pickup truck. John William King, a white supremacist, was convicted of murder the previous day in the case. Tracht faxed a one-paragraph statement: "I'm truly sorry for the pain and hurt I have caused with my unfeeling comment. I have no excuse for my remark, and regret it. If I could take it back I would. In the course of my show, split second judgment is made over ad-libs. This remark was a grave error in my judgment." A statement from the station announcing Tracht's firing apologized to listeners who were offended. "While we will always strongly support the right of our on-air artists to express a wide range of opinions, even those that are unpopular or offensive to some, WARW cannot be associated with the trivialization of an unspeakable act of violence," the statement read.
1999 - At the annual Grammy awards ceremony in the Los Angeles' Shrine Auditorium, hip-hop star Lauryn Hill broke a record for female artists, winning five Grammy Awards for her album, “The Miseducation of Lauryn Hill.” Hill's five wins in one night - album of the year, best new artist, female rhythm and blues vocal, R & B song for “Doo Wop (That Thing),” and R & B album - topped the four Grammys won by Carole King in 1971 for “Tapestry.”
1999 – Arizona executed Karl LeGrand, a German national convicted of murder during a botched bank robbery, in spite of Germany's legal action to attempt to save him.
2002 - XIX winter Olympics closes in Salt Lake City UT/Québec City
2004 - Heavy snows blanket wide areas of northern New Mexico, closing schools and highways. The mountains east of Santa Fe receive 20 inches. Sandia Park, east of Albuquerque, measures 11 inches. 8 inches falls at Los Alamos
2010 - The 2010 Winter Olympics in Vancouver ends with, among other things, a surprise appearance by Canadian native Neil Young, who sings "Long May You Run" as the torch is put out.
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