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Available by e-mail
in a text format, sent out at 3:00am, free:
http://www.leasingnews.org/addme-mailing-list.htm
Headlines---
Classified
Ads---Asset Management
Expanded
Leasing News Advisory Board
Geneva
Capital Joins Group New Agreement Form
Resource
America Cash Dividend
Beth
Mooney named CFO AmSouth Bancorporation
Fitch:
Regulatory Restrictions On Securitisation
Trilogy
Leasing Posts 9-Month Financials-10% Up
ORIX
Announces Third Quarter Results
Classified
Ads---Asset Management
Asset Management:
Austin, TX. 20+ years exper. lease/finance. P & L responsibility,
strong credit & collection management, re- marketing& accounting.
Computers, construction, auto & transportation. Both commercial/
consumer portfolios. Email: kmalone@austin.rr.com
Asset Management:
Chicago, IL. MBA, 15+ years exp. Long history of success in maximizing
residual position through outstanding negotiation skills & lease
contract management. Third party re-marketing, forecasting etc... email:jgambla@aol.com
Asset Management:
Oxnard-Hollywood Beach, CA.
19 Years w/Equity
Analysis/Placement and Residual Forecasting of Computer Assets. Portfolio
Manager for Two Major Lessors and Strong Analyst Background w/Leading
Information Services Firm.
email: GregoryMLorenz@aol.com
All job wanted ads
at: http://64.125.68.90/LeasingNews/JobPostings.htm
Post a free “job
wanted” ad at: http://64.125.68.90/LeasingNews/PostingFormWanted.asp
Our web site gets over 15,000 visits a day, according to Web Trend.
Our newsletter reaches over 5,000 readers who subscribe (for free.)
Cartoon---The
Woofs Have it
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-------------------------------------------------------------------------------
Expanded
Leasing News Advisory Board
Yesterday we printed
the names and biographies of our current
Leasing News Advisory
Board: http://www.leasingnews.org/#leasing
Today we announce
the new members which not only expands the advisory board
in number, but geographic area, and perhaps more importantly, expertise.
Our policy is printed
on the web site and printed in each daily edition:
http://www.leasingnews.org/policy.htm
Our mission is basically
to produce “independent, unbiased and fair
news about the Leasing
Industry.” Our full mission
statement is
also on the web site:
http://www.leasingnews.org/Mission_Statement.htm
For the record: The
Leasing News Advisory Board is chosen by the publisher. They are not
financially compensated. They participate in the overall direction of
our electronic newspaper. As per
a “printed” newspaper procedure, it is the editor's sole discretion
as to what is printed and not printed; not the board of directors or
any advisory board
The purpose is to
give more business advice, procedural viewpoint, help promote the growth
of Leasing News, contribute their experience and knowledge toward the
policy and mission; to help this electronic newspaper grow.
Perhaps we can all
get together for a Chaine des Rotisseurs style dinner October 22, 2004
during the United Association of Equipment Leasing October 21–24,2004
Annual Conference & Exposition in Monterey, California. Our
advisory board member Steve Crane is the conference chairman, so this
might be a good opportunity to have
a Monterey-Carmel
Valley weekend. It might rival
our Emeril’s private room dinner we had in New Orleans, Louisiana. It
might rival our Emeril’s private room dinner we had in New Orleans,
Louisiana.
Welcome aboard:
Edward Castagna, Nassau
Asset Management
Dan Janal,
Great Teleseminars
Theresa M. Kabot, CLP, Kabot
Commercial Leasing
Robert S. Kieve, Empire Broadcasting
Andrew Lea, M.A., McCue Systems,Inc.
Armon L. Mills, CPA, Silicon Valley Business Ink
Steve Reid, CLP, Santa Barbara
Bank & Trust;
Paul B. Weiss, ICON Capital
Here are their individual biographies:
Edward Castagna
Nassau
Asset Management
Roslyn
Heights, NY
Ed Castagna
is Nassau Asset Management’s executive vice president of operations,
responsible for managing internal operations and a growing staff while
working on behalf of clients. His accomplishments include transforming
the brick-and-mortar business into an e-commerce-enabled company.
Castagna was instrumental in the conception, design, production and
marketing of www.nasset.com, a
global Web site for remarketing assets. He also was involved in the
development and enhancement of NASTRAC, an online system that keeps
Nassau customers informed, in real time, about the repossession and sale of used equipment.
He has
extensive experience in all areas of asset management but is best known
for his expertise in remarketing strategies and liquidations. Castagna
has helped liquidate the assets of thousands of distressed companies
since joining the firm in 1991. He is particularly knowledgeable about
using an alternative to auctions, known as orderly liquidations, to
maximize return on liquidated assets. He is a principal in Nassau
Asset
Management, which provides asset recovery, collections, remarketing
and appraisal services to the equipment leasing and finance industry
Castagna serves as
the chairman of the Equipment Leasing Association’s
(ELA) Service Providers Business Council. He is an industry speaker,
author and quoted source on asset remarketing strategies.
Castagna graduated
from Syracuse University in 1991 with a bachelor of arts degree in psychology.
Active in community affairs, he is a founding member of TLC, a civic
organization that raises funds to enhance neo-natal care for North Shore’s
Long Island Jewish Health System.
---
Dan
Janal
Great
Teleseminars
Shorewood,
Minnesota
Dan Janal helps companies
and exerts produce their own training sessions via conference call phone
lines (teleseminars) through his company, Great Teleseminars.com
He has conducted
more than 100 training sessions via telephone and has produced nearly
500 training sessions via phone lines for authors, speakers and trainers
in the fields of sales, management, leadership, wellness, real estate,
finance and many other fields.
Great Teleseminars
is a one-stop service center for anyone wanting to make money from teleseminars
and teleclasses. Great Teleseminars can handle everything from registration
and shipping to recording and disk duplication. Of course, they can
rent “bridge lines” which are the conference lines you need to conduct
teleseminars.
Dan is also a professional
speaker who has spoken everywhere from Beijing to Budapest and has taught
at Berkeley and Stanford. He has written six books that have been translated
into 6 languages. He’s also written two e-books on how to market and
host teleseminars. You can read more about these books and services
at http://www.greatteleseminars.com
Dan holds bachelor’s
and master’s degrees from Northwestern University. He has worked as
an award winning daily newspaper reporter and editor, and has more than
20 years of experience in publicity and public relations. He is a member
of the National Speakers Association.
--
Theresa
M. Kabot, CLP
Kabot
Commercial Leasing
Seattle,
Washington
Theresa M. Kabot,
CLP, manages Kabot Commercial Leasing, LLC., a commercial equipment
finance company headquartered in Seattle, Washington with an office
in Morrison, Colorado and with plans to expand to the east coast this
year.
After graduating
with a BA from Colorado State University in 1990, she joined Colonial
Pacific Leasing, Portland, Oregon, specializing in the
under $100,000 lease
market, where she learned credit and documentation then sales and marketing.
She moved to Seattle
in 1995, starting Kabot Commercial Leasing. During her last nine years
in business, she has been an active supporter of the leasing and equipment
finance industry, first by earning the CLP (Certified Lease Professional)
designation in October of 1996. She has also served on various committees,
including being chairman of the membership committee of the United Association
of Equipment Leasing, plus serving on the board of directors.
Her hobbies include
spending time with her Golden Retriever “Crosby,” reading, painting,
traveling, and hiking with “Crosby.”
---
Robert
S. Kieve
Empire
Broadcasting
San
Jose, California
Bob is “Mr. San Jose,”
having won every award there is in the area
Born Jersey City,
NJ, 82 years ago
BS Harvard College 1943
Information Officer American Embassy, Madrid, 1943-47
Author: El Arte Radiofonico, Spain's first book on radio
broadcasting
Program Manager WGVA, Geneva, NY
Promotion Writer, CBS, New York
Special Assistant in White House Office under Eisenhower, 1953-56
General Manager WBBF-AM_FM, Rochester, NY 1967-67
President, Empire Broadcasting Corporation, San Jose,
CA 1968-present
--
Andrew
Lea, M.A.
McCue
Systems, Inc.
Burlingame,
California
Andrew Lea is a marketing
strategist specializing in brand
development, competitive analysis, and business development. He has
over 18
years' experience as a strategic branding and marketing communications
professional and has worked with leading Bay Area companies.
Andrew heads up Marketing and Corporate Communications for
McCue Systems in Burlingame, California. His work there includes identifying
market opportunities for the company, communicating the business and
technical benefits of McCue Systems' leasing solutions to the financial
services marketplace, and developing the company's strategic positioning
and
key market messages.
Andrew's articles on trends and issues in equipment lease management
technology have appeared regularly in The World Leasing Yearbook since
2000, as well as in the Equipment Finance Journal, Equipment Leasing
Today, and, most recently, in The Monitor. He served as a presenter
at the 2002 ELA Annual Convention in San Francisco and currently serves
on the Membership Marketing Committee of the ELA.
In addition to his work in the equipment leasing world, Andrew is also
a voice-over professional with an extensive resume of voice roles in
broadcast advertising, corporate productions, and electronic games.
Mr. Lea holds a Bachelor's Degree in Social Science from the University
of California at Berkeley and the Masters of Arts degree in Sociology
from the New School
for Social Research in New York City. He resides in Sausalito, California,
across the Golden Gate from San Francisco.
--
Armon
L. Mills, CPA
Silicon
Valley Business Ink
San
Jose, California
Education:
Armon
earned a Bachelor of Arts degree in Business Administration from Southwestern
Professional
and Business History:
Armon
is one of the founders and is the Publisher and CEO of a new business
He
was Publisher of the Business Journal in Phoenix, Arizona from 1987
to 1991
Professional
Affiliations and Community Involvement:
Armon
is a member of the AICPA, a national CPA association, and is very active
throughout the community with various business and civic organizations. He is a current board member and a past board
chair of the San Jose/Silicon Valley Chamber of Commerce, a member of
the1991-92 class of Community Leadership/San Jose and is a past board
member and finance chair of the San Jose Convention and Visitors Bureau. He is also on the board of The Valley Foundation,
Santa Clara County Council Boy Scouts of America, Empire Broadcasting
and the San Jose Sports Authority. He is a past board chair of the YMCA of Santa Clara Valley and the
board of the Salvation Army of Santa Clara County. He is the current chair of the Commonwealth
Club of Silicon Valley advisory Council.
In addition,
he is an active member of the downtown Rotary Club, and is a Senior
Fellow and participated as a member of Class IX of the Silicon Valley
Chapter of the American Leadership Forum.
Armon
is a past chair of the board of the Silicon Valley Capital Club and
Recent Awards 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 Excellent Award – 1998
San Jose/Silicon Valley Chamber of Commerce
Silver Beaver Award - 2001
Santa Clara County Council of Boy Scouts
of American
Southwestern College – Winfield, Kansas
Business Hall of Fame - 2002
---
Steve
Reid, CLP
Santa
Barbara Bank & Trust
Santa
Barbara, California
Steve Reid, CLP,
has been with Santa Barbara Bank & Trust since 1989 (fka California
Thrift & Loan 89-95). He is vice-president of marketing. He
started in leasing with Ron Wagner at the original Heritage Leasing
Corporation in 1982; here, he says, “I sold leasing on the street. “
Prior to his leasing career, he sold computer systems for nine years
with Burroughs, Wang and Basic IV. Steve graduated from Cal State Northridge with
a business degree in 1973. He has been married to Janell for 29 years
. They have two children, Andrea, a grade school teacher, and Danny
,a junior at UCLA.
---
Paul
B. Weiss
ICON
Capital
New
York/San Francisco
Paul
B. Weiss, President and
Director, is also Vice Chairman of the Board of Directors of ICON Holdings,
ICON's parent company, of which Mr. Weiss is
a substantial shareholder. He joined ICON on a full time basis in November,
1996 and is responsible for the acquisition of large ticket leases and
other transactions for the ICON Partnerships. According to the Monitor
monthly newspaper, ICON is among
the largest independently owned leasing companies in the United States.
Mr. Weiss was a co-founder with Mr. Beaufort Clarke and Mr. Thomas W
Martin of Griffin Equity Partners, Inc. and served on a full time basis
as its Executive Vice President from October 1993 through November 1996.
Prior to that time, Mr. Weiss was Senior Vice President of Gemini Financial
Holdings, Inc. from 1991 to 1993 and Vice President of Pegasus Capital
Corporation (an equipment leasing company) from 1988 through 1991, where
he was responsible for large ticket seasoned lease portfolio acquisitions.
Prior to entering the equipment Leasing business in 1988, Mr. Weiss
was an investment banker, securities analyst and credit analyst for
investment banks and a major commercial bank.
Geneva
Capital Joins Group to Create New Agreement Form
“Count us (and $200.00)
in on the "new and improved" Lessor/Lessee Proposal Letter.
“
Mark Watkins
Geneva Capital LLC
522 1/2 Broadway Street
Alexandria, MN 56308
Here are others that have joined the effort to date:
Ben Carlile
Allegiant Partners
Incorporated
Warren Hawkins
Bank Partners
Paul Behechti
Bridge Capital Leasing
Gary Saulter
Chase Industries
Gary Trebels, CLP
Vice-President
IFC Credit Corporation
Theresa Kabot
Kabot Commercial
Leasing
Charlie Lester
LPI Financial Services
The people who are donating $200 to this effort, also are presenting
the documents their company uses
today, and their experience. The
form will be generic, and hopefully
While we do not want
to give legal advice, particularly realizing that states differ and
there are also licensing issue, we asked Ken Greene for some "generic"
help.
He has agreed to
perform this service, review the forms, and then devise a "generic
one" to help brokers retain expenses, particularly if an application
is not approved or terms and conditions change.
"I am glad to
help if a pool of leasing companies would like to get together and hire
me to put together a thorough form. It can still be simple, but it should
be internally consistent and not appear
to be punitive in nature."
Ken
Kenneth C. Greene
Law Offices of Kenneth
C. Greene
980 Magnolia Avenue
Suite 6C
Larkspur, CA 94939
Vox: 415 461 3777
Fax: 415 461 3733
E-Mail: keng@kengreenelaw.com
Website: www.kengreenelaw.com
For those who participate,
Ken Greene is willing to do extra work for a minimal fee on the form
for their specific needs. Each company will sign
an agreement regarding this form to cover expenses incurred should a
lease not go forward, plus give other clauses for specific terms and
conditions to be covered in the proposal. Should we not
obtain the $2,000 needed, all money will be returned. As per our policy, we also reserve the right to refuse a sponsorship.
------------------------------------------------------------------------------------------------------------
Leasing
Industry Help Wanted
Current Openings
|
About the Company: Genesis Commercial Capital, LLC; 17910 Skypark Circle, Suite 105; Irvine, CA. 92614 www.gen-cap.com |
|
About
the Company: IFC Credit Corporation is located at 8700 Waukegan
Rd., Morton Grove,
|
[Top]
|
ABOUT
THE COMPANY: First Financial
Corporate Services, Inc. is a four year old high growth technology
leasing company. www.ffcsi.com |
[Top]
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About the
company: Netlease is located
at |
|
|
|
About
the Company: Alliance
Funding Group, Inc. 2099 S. State college
Blvd., Suite 100 Anaheim, CA. 92806 www.alliancefunds.com |
[Top]
### Press Release
############################
Marlin
Business Services Corp. Reports Fourth Quarter And Full Year 2003 Operating
Results
MOUNT LAUREL, N.J.----Marlin
Business Services Corp. (NASDAQ:MRLN) reports net income attributable
to common shareholders of $1.0 million, or $0.14 per diluted share,
for the quarter ended December 31, 2003 and $1.2 million or $0.35 per
diluted share for the year then ended pursuant to U.S. Generally Accepted
Accounting Principles (GAAP).
Marlin completed its initial public offering of common stock (IPO)
on November 12, 2003. Certain non-recurring expenses and preferred dividends
were recorded in 2003 and in prior periods which reduced net income
attributable to common shareholders. A reconciliation between net income
attributable to common shareholders on a GAAP basis and pro forma net
income is provided in a table immediately following the Consolidated
Statements of Operations. These charges ended in conjunction with the
November IPO and associated corporate reorganization and therefore will
not affect future reporting periods. As a result, we believe the pro
forma numbers present a clearer and more comparable basis to review
the company's fundamental financial performance. Highlights for the
quarter and year ended December 31, 2003 include:
-- For the quarter ended
December 31, 2003, pro forma net income was $2.6 million, a 73% increase
over the pro forma net income of $1.5 million for the quarter ended
December 31, 2002.
-- Pro forma diluted earnings
per share were $0.26 per diluted share in the fourth quarter of 2003,
compared to $0.20 per diluted share in the quarter ended December 31,
2002.
-- For the year ended December
31, 2003, pro forma net income was $9.2 million, a 70% increase over
the pro forma net income of $5.4 million for the year ended December
31, 2002.
-- Pro forma diluted earnings
per share was $1.09 per diluted share for the year ended December 31,
2003, an increase of 53% compared to $0.71 per diluted share for the
year ended December 31,
2002.
-- Net investment in leases
grew to $421.7 million at year-end
2003, a $84.3 million or 25% increase over year-end 2002. based
on initial equipment cost, lease production grew 19% to $242 million in 2003 from $203 million in 2002.
"2003 was a milestone year at Marlin," said Dan Dyer,
Chairman and CEO of the company. "The completion of our IPO capped
another very successful year of operations. We delivered strong asset
growth while maintaining solid asset quality results. Portfolio growth,
controlled spending, combined with a wider net interest margin led to
strong growth in our core earnings this past year. Our market presence
as a leading national provider of small-ticket lease financing solutions
to businesses continues to grow."
Asset Origination
-- Based on initial equipment
cost, lease production was $66.6 million in the fourth quarter of 2003
compared to $65.4 million in the third quarter of 2003 and $53.0 million
in the fourth quarter
of 2002.
-- Our end user customer
base grew to more than 66,000 as of year-end 2003 compared to 53,500
at year-end 2002.
Credit Quality
-- Net charge-offs totaled
$1.8 million for the quarters ended December 31, 2003 and September
30, 2003. The provision for credit losses was $2.1 million for the quarters
ended December 31, 2003
and September 30, 2003.
-- On an annualized basis,
net charge-offs were 1.82% of net investment in leases during the fourth
quarter of 2003 compared to 1.93% for the third quarter of 2003. The
provision represented an annualized 2.14% of average
net investment in leases in the fourth quarter compared to 2.20% for
the third quarter of 2003.
-- As of December 31, 2003,
0.74% of our total lease portfolio was 60 or more days delinquent and 0.64% as of September
30, 2003, an improvement from the 0.86% reported as of December 31,
2002.
-- Allowance for credit
losses was $5.0 million as of December 31, 2003, a $300,000 increase
from $4.7 million as of September 30, 2003. Allowance for credit losses
as a percentage of net investment in leases was 1.22% at December 31,
2003 and September 30, 2003.
-- In conjunction with
this release, static pool loss statistics
have been added as supplemental information on the investor relations
section of our website at www.marlincorp.com.
Net Interest and Fee Margin and Cost of Funds
-- The net interest and
fee margin was 10.71% for the quarter ended December 31, 2003, an improvement
of 25 basis points compared to 10.46% for the quarter ended September
30, 2003.
-- The implicit yield on
new business was 13.68% for the quarter ended December 31, 2003 compared
to 13.80% for the quarter ended
September 30, 2003.
-- The weighted cost of
funds was 4.81% for the quarter ended December 31, 2003, a 31 basis
point improvement from the 5.12% for the quarter ended September 30,
2003. During the fourth quarter,
the company began to borrow again under its lower cost warehouse lines
of credit, following its 2003 asset-backed securitization completed
in the third quarter. Usage of the warehouse lines and the payoff in
November of the 11.0% subordinated debt resulted in lower blended borrowing
costs.
Operating Expenses
-- Salaries and benefits
expense was $2.8 million in the fourth quarter of 2003 compared to $2.6
million in the third quarter of 2003. Employee headcount increased by
10, from 227 at September
30, 2003 to 237 at December 31, 2003. Salaries and benefits expense
was 2.8% as an annualized percentage of average net investment in leases
for both the third and fourth
quarters of 2003.
-- Other general and administrative
expenses were $2.5 million for the fourth quarter 2003, an increase
of $676,000 from $1.8 million for the third quarter of 2003. The increase
was primarily the result
of higher legal fees incurred and certain costs associated with becoming
a public company. Other general and administrative expenses as an annualized
percentage of average
net investment in leases were 2.46% for the fourth quarter of 2003,
an increase of 56 basis points from 1.90% for the third quarter of 2003.
Insurance and other Income
-- Insurance and other
income was $934,000 for the fourth quarter 2003, an increase of 23%
from $757,000 for the same period in 2002.
Funding and Liquidity
-- In November, we closed
on the sale of 5,060,000 shares of our common stock in our IPO. Of these
shares, a total of 3,581,255 shares were sold by the company and 1,478,745
shares were sold by selling
shareholders. The initial public offering price was $14.00 per share
resulting in net proceeds to us, after payment of underwriting discounts
and commissions but before other
offering costs, of approximately $46.6 million. We did not receive any
proceeds from the shares sold by the selling shareholders. We used the
net proceeds from the IPO as follows: (i) approximately $10.1 million
was used to repay all of our outstanding 11% subordinated debt and all
accrued interest thereon; (ii) approximately $6.0 million was used to
pay accrued dividends on preferred stock which converted to common stock
at the time of the IPO; (iii) approximately $2.2
million was used to pay expenses incurred in connection with
the IPO. The remaining $28.3 million will be used for general corporate
and liquidity purposes.
Conference Call and Webcast
We will host a conference call on Thursday, February 5, 2004 at
2:00 p.m. EST to discuss our fourth quarter and full year 2003 results.
If you wish to participate, please call (877) 407-8031 (International
participants please use (201)-689-8031) approximately 10 minutes in
advance of the call time. The meeting number is 741982404. The call
will also be webcast on the Investor Relations page of the Marlin Business
Services Corp. website, www.marlincorp.com. An audio replay will also
be available on the Investor Relations section of Marlin's website for
approximately 90 days.
About Marlin Business Services Corp.
Marlin Business Services Corp. is a nationwide provider of equipment
leasing solutions primarily to small businesses. The company's principal
operating subsidiary, Marlin Leasing Corporation, finances over 60 equipment
categories in a segment of the market generally referred to as "small-ticket
" leasing (i.e. leasing transactions less than $250,000). The company
was founded in 1997 and completed its initial public offering of common
stock on November 12, 2003. Headquartered in Mount Laurel, NJ, Marlin
has regional offices in or near Atlanta, Chicago, Denver and Philadelphia.
For more information, visit www.marlincorp.com or call toll free at
(888) 479-9111.
(Present Stock Call:
$18 http://www.snl.com/Interactive/IR/corp.asp?IID=4089372
(Full press release
with financial statements: http://www.snl.com/Interactive/IR/file.asp?IID=4089372&FID=1387528&OSID=9 )
### Press Release
####################################
Resource
America, Inc. Authorizes Payment of Cash Dividend
PHILADELPHIA----Resource
America Inc.(NASDAQ:REXI) (the "Company") announces that its
Board of Directors has authorized the payment of a cash dividend on
February 27, 2004 in the amount of three and one-third cents per share
of the Company's common stock to all holders of record at the close
of business on February 13, 2004.
This dividend payment will make the 35th consecutive quarter that
the Company has paid a cash dividend to its stockholders. The Company
currently has approximately 17.4 million shares of common stock outstanding.
Resource America Inc. is a specialized asset management company
that uses industry specific expertise to generate and administer investment
opportunities for its own account and for outside investors in the energy,
financial services, real estate and equipment leasing industries. For
more information please visit our website at www.resourceamerica.com
or contact Investor Relations at investorrelations@resourceamerica.com.
Statements made in this release may include forward-looking statements,
which involve substantial risks and uncertainties. The Company's actual
results, performance or achievements could differ materially from those
expressed or implied in this release.
CONTACT:Resource
America Inc., Philadelphia Pamela Schreiber, 215-546-5005 facsimile:
215-546-5388
### Press Release
###########################
Beth Mooney named Chief Financial Officer of AmSouth Bancorporation.
She was previously head of AmSouth's Tennessee/North Louisiana Banking
Group.
BIRMINGHAM, Ala.----AmSouth
Bancorporation has named Beth Mooney, currently senior executive vice
president and head of the bank's Tennessee/North Louisiana Banking Group,
as chief financial officer replacing Sloan D. Gibson, who is retiring
from banking to pursue volunteer service but will remain at AmSouth
for a transitional period.
"Sloan Gibson has been a significant asset to AmSouth and
has been instrumental over the past decade in helping reinforce AmSouth's
position as a highly regarded regional bank and enhancing its financial
performance," said Dowd Ritter, AmSouth's chairman, president and
chief executive officer. "While I am disappointed we are losing
someone of his talent and leadership, I certainly respect this personal
decision to pursue different goals."
"Over the years, my volunteer work has shown me the needs
in our communities and it is work that has increasingly become my passion,"
Gibson said. "I've concluded that the time is right for me to make
a greater contribution, and my banking career has given me the rare
opportunity to now devote more time to public service and to meeting
those needs."
Gibson said the strengthening business environment makes this an
opportune time for such a change. "We have just completed a challenging
few years, and this new year will likely be the best business environment
we have had in three years. I have great confidence in our strategic
plan and our management team has never been stronger."
Mooney, who has 26 years of experience in banking, joined AmSouth
in 2000 from Bank One Ohio, where she served as president. She had previously
served as chief financial officer for Bank One Ohio and holds a master's
of business administration in finance from Southern Methodist University.
"Beth Mooney is extremely well-qualified for this position,
having led our largest state operation for almost four years and having
previously served as a chief financial officer," Ritter said.
E.W. "Rusty" Stephenson Jr., who currently heads the
Florida and Mississippi Banking Group for AmSouth, will take over for
Mooney as head of the bank's Tennessee/North Louisiana Banking Group
and will retain responsibility for AmSouth's Mississippi operations.
Stephenson has 34 years of experience at AmSouth.
Susan Martinez will head AmSouth's Florida Banking Group. She is
currently AmSouth's area executive responsible for the West Coast of
Florida, an area that extends from Pasco County to Naples. Martinez
has more than 30 years of banking experience and joined AmSouth in 1998
after a 25-year career at Barnett Bank. Stan Kryder, who has been responsible
for directing AmSouth's Florida branch expansion efforts, will take
over as area executive for the West Coast of Florida. Kryder joined
AmSouth in 2002 from First Union.
"Few companies have the depth of management strength we have,
and these changes are an excellent example of our talented mix of executives
who have spent their entire careers at AmSouth and others who have had
experience at other large financial institutions," Ritter said.
About AmSouth
AmSouth is a regional bank holding company with $46 billion in
assets, more than 650 branch banking offices and more than 1,200 ATMs.
AmSouth operates in Tennessee, Alabama, Florida, Mississippi, Louisiana
and Georgia. AmSouth is a leader among regional banks in the Southeast
in several key business segments, including consumer and commercial
banking, small business banking, mortgage lending, equipment leasing,
annuity and mutual fund sales, and trust and investment management services.
AmSouth also offers a complete line of banking products and services
at its web site, www.amsouth.com.
ONTACT:AmSouth Bancorporation Investment community: List Underwood,
205-801-0265 or News media: Rick Swagler, 205-801-0105
### Press Release
##############################
Fitch:
Regulatory Restrictions On Securitisation Unlikely To Affect Bank Ratings
Fitch Ratings-London-4:
Fitch Ratings, the international rating agency, says pending regulatory
and accounting changes mean securitisation remains unlikely to materially
affect bank ratings, but may result in a reduction in the level of securitisation
by banks, according to a Special Report published.
In the report, Securitisation
and Banks: A Reiteration of Fitch's View of Securitization's Effect
on Bank Ratings in the New Context of Regulatory Capital and Accounting
Reform, the agency also predicts that the implementation of the more
risk-reflective Basel II will reduce the attraction of securitisation
as a means of lowering banks' regulatory capital requirements.
While the report
concludes that overall the effect of securitisation and of issuance
of covered bonds on banks' ratings will remain largely neutral, it also
identifies a number of positive and negative rating implications in
securitisation.
On the positive side
securitisation can boost liquidity and bring asset and liability management
advantages; improve access to alternative and cheaper sources of funding;
reduce lending concentration; reduce the volume of non-performing loans;
provide regulatory capital relief, although this will be reduced under
Basel II; produce higher returns on equity; and successfully transfer
catastrophic risk.
On the negative side
it can lead to cherry picking (securitisation of a bank's best assets);
an issuing bank deciding to protect its own reputation by supporting
a failing securitisation or by recapitalising an underperforming SPV;
subordination of senior creditors; tripping of structural triggers;
and the risk of being trapped in a securitisation treadmill by the possibility
of booking raised profits.
The report also highlights
the significance of changes in how securitisation is to be accounted
for under international and national rules. Fitch believes these amendments
to accounting standards worldwide should not cause it to alter its basic
rating approach, which is to make a judgement on who ultimately bears
the risks in a securitisation structure. However, the agency notes that
improvements in accounting disclosure do often have the effect of revealing
aspects of financial transactions that were not previously apparent.
Therefore, Fitch cannot rule out the possibility that such revelations
would in some at the moment unpredictable way adversely affect ratings.
A copy of the report
can be obtained from the agency's free website at www.fitchratings.com
Contact: David Andrews,
London, Tel: +44 (0)20 7417 4302 Helene Heberlein, Paris, Tel: +33 1
44 29 91 40 Kim Olson, New York, Tel: +1 212 908 0320
### Press Release
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Trilogy
Leasing Posts Nine-Month Financials
Trilogy Leasing,
a diversified lessor specializing in technology, telecommunications,
warehouse, and medical equipment is pleased to announce its results
for the nine months ended September 30, 2003.
Through September
30th, revenues were $17.5 million, a 10% increase over the same period
in the prior year. Earnings for the nine months were nearly $1.6 million,
up 30% over the same period in 2002. Both revenue and earnings amounts
represent record levels for Trilogy, now beginning its fifth year of
operations.
Commenting on the
results, Jeff Liebenthal, president and CEO of Trilogy stated, “Trilogy
continues to perform well through the weak economy that the U.S. has
been experiencing. We continue to sign new Master Lease Agreements and
our portfolio continues to perform very well. Our cash position continues
to grow and although we have had solid performance from our inception
we are on the most stable ground in our history. Trilogy has expanded
geographically during 2003 and we have further diversified our portfolio
in terms of equipment content. We continue to develop complementary
services which will enable us to be a one stop shop for the financing,
supply, and implementation of technology solutions.”
Although a private
enterprise, Trilogy will continue to provide regular updates on its
financial performance.
### Press Release
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ORIX
Announces Third Quarter Results
TOKYO----ORIX Corporation
(TSE:8591)(NYSE:IX), a leading integrated financial services group,
today announced that revenues in the first nine months of the fiscal
year ending March 31, 2004 increased 5% year on year to 520,927 million
yen, income before income taxes(a) rose 39% to 85,119 million yen, and
net income grew 30% to 45,892 million yen.
Revenues for "direct
financing leases" and "interest on loans and investment securities"
were down compared
to the same period
of the previous fiscal year as ORIX continued to focus on the profitability
of each transaction and carefully selected new assets. However, revenues
from "operating leases" increased mainly due to an improvement
in the precision measuring equipment rental business along with gains
from the sale of some office buildings, while "residential condominium
sales" also grew during the period. In addition, lower "interest
expense" and fewer "write-downs of long-lived assets,"
and an increase in "equity in net income of affiliates" contributed
to the higher earnings.
2003/4-12 2003/4-12
Change 2003/10-12 Change
US$ JPY
on JPY on
millions(b) millions(b) 2002/4-12 millions(b) 2002/10-12
---------- -----------
----------- ----------- ----------- -----------
Total
Revenues 4,863 520,927 Up 5% 175,056
Up 7%
---------- -----------
----------- ----------- ----------- -----------
Income
before
Income
Taxes(a) 795 85,119 Up 39% 26,863 Up 15%
---------- -----------
----------- ----------- ----------- -----------
Net Income 428 45,892 Up 30%
14,473 Up 16%
---------- -----------
----------- ----------- ----------- -----------
Earnings
Per Share
(Basic)
(JPY/US$) 5.12 548.36 Up 30% 172.94 Up 16%
---------- -----------
----------- ----------- ----------- -----------
Earnings
Per Share
(Diluted)
(JPY/US$) 4.82 516.58 Up 30% 162.91 Up 16%
---------- -----------
----------- ----------- ----------- -----------
Change on Change on
2003/12 US$(b) 2003/12 2003/9 2003/3
-----------------------
-------------- ---------- ---------- ---------
Shareholders' Equity
(JPY millions) 5,150
551,768 Up 2% Up 9%
-----------------------
-------------- ---------- ---------- ---------
Total Assets (JPY
millions) 52,945
5,672,032 0%
Down 4%
-----------------------
-------------- ---------- ---------- ---------
Shareholders' Equity
per Share (JPY/US$) 61.56
6,594.86 Up 2% Up 9%
-----------------------
-------------- ---------- ---------- ---------
(a)"Income before
income taxes" refers to "income before
extraordinary gain,
cumulative effect of a change in accounting
principle and income
taxes" in the consolidated statements of income.
(b)U.S. dollar amounts
have been calculated at JPY107.13 to $1.00,
the approximate exchange
rate prevailing at December 31, 2003. Unless
otherwise stated,
all amounts shown are in millions of Japanese yen or
millions of U.S.
dollars, except for per share data, which are in
single yen or dollars.
The "Equipment
Operating Leases" segment had higher segment profits thanks to
an improvement in the precision measuring equipment rental business,
while the "Real Estate-Related Finance" segment saw continued
strong performance from the housing loan and corporate loan servicing
operations. The "Real Estate" segment also did well with contributions
from the condominium development business and gains from the sale of
office buildings. In the "Asia and Oceania" segment, the contribution
from an equity method affiliate and the strong performance of the automobile
leasing operations of a number of companies in the region added to segment
profits, while "The Americas" segment posted higher profits
largely as a result of lower provisions and fewer write-downs of securities.
Operating assets
were down 5% to 4,910,845 million yen and total assets were also down
4% to 5,672,032 million yen compared to March 31, 2003 due to our cautious
selection of new assets and our continued attempt to grow profits without
increasing assets. Shareholders' equity increased 9% on March 31, 2003
to 551,768 million yen and the shareholders' equity ratio was 9.7% compared
to 8.5% at March 31, 2003. ROE (annualized) rose from 9.3% to 11.6%
and ROA (annualized) improved from 0.76% to 1.05% compared to the nine
months ended December 31, 2002.
For details on the
third quarter earnings announcement please access "Third Quarter
Results 2003/12" and "Analysis of Third Quarter Results 2003/12"
from ORIX's web site at: www.orix.co.jp/grp/ir_e/data/report/ index.htm.
ORIX will also hold
a conference call in English on Friday, February 6, 2004 at 10:30 PM
(Tokyo)/8:30 AM (EST)/1:30 PM (London)/2:30 PM (Continent) to discuss
the earnings announcement. For details on how to participate please
access www.orix.co.jp/grp/ir_e/ir_pdf/031231_ConfCallE.pdf.
About ORIX
ORIX Corporation
(TSE:8591)(NYSE:IX) is an integrated financial services group based
in Tokyo, Japan, providing innovative value-added products and services
to both corporate and retail customers. With operations in 23 countries
worldwide, ORIX's activities include: leasing, corporate finance, real
estate-related finance and development, life insurance, and investment
and retail banking. For more details, please visit our web site at:
www.orix.co.jp/grp/index_e.htm.
These documents may
contain forward-looking statements about expected future events and
financial results that involve risks and uncertainties. Such statements
are based on our current expectations and are subject to uncertainties
and risks that could cause actual results to differ materially from
those described in the forward- looking statements. Factors that could
cause such a difference include, but are not limited to, those described
under "Risk Factors" in the Company's annual report on Form
20-F filed with the United States Securities and Exchange Commission.
Contacts
ORIX Corporation
Leslie Hoy, +81-3-5419-5102
orixir@orix.co.jp
URL: www.orix.co.jp/grp/index_e.htm
### Press Release
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News Briefs---
U.S. factory orders
rise strong 1.1 pct. http://www.boston.com/business/articles/2004/02/04/us_
factory_orders_rise_strong_11_pct/
Indiana Census Notes
Farmland Acreage Loss
http://www.washingtonpost.com/wp-dyn/articles/A14590-2004Feb5.html
Drudge Reports Make
it to #4 in Yahoo Searches
http://buzz.yahoo.com/overall/
Baby boomers getting
finances in order
http://www.boston.com/business/personalfinance/articles/
2004/02/03/baby_boomers_getting_finances_in_order/
Niche Internet retailers
hit their stride
Though reviled by
Linux enthusiasts, SCO Group's chief sticks to his guns
http://www.boston.com/business/globe/articles/2004/02/04/mr_unpopular/
Sports Briefs---
Wednesday re-cap
http://www.nytimes.com/aponline/sports/AP-Transactions.html
--------------------------------------------------------------------------------------------------
California Nuts
Briefs---
On the Road with
Arnold Selling Bonds, Knocking State Finances
http://www.mercurynews.com/mld/mercurynews/news/7870859.htm
----------------------------------------------------------------------------------------------------
Wine and Cheese Chart
http://wine.about.com/library/bl_cheese.htm
Stemless Riedel Wine
Glass-"O" Series
http://www.winespectator.com/Wine/Daily/News/0,1145,2333,00.html
Reno-Tahoe Wine,
Food & Jazz Festival Set for April 30-May2, 2004
http://www.vino.com/press/press_release.asp?PRID=270
San Antonio, Texas
Wine Festivals
http://www.wineontheweb.com/news/San_Antonio_Express/san_antonio_express.html
This
Day in American History
1723-Birthday of John Withersoon, clergyman, signer of
the Declaration of Independence and reputed coiner of the word “Americanism”
(in 1781). He was one of the hardest workers on the constitution and
for the United States, according to historians.
When he arrived from Scotland he had brought three hundred books
with him, donated it to College of New Jersey (now Princeton University),
where he became president and was active
as a minister, plus building the library and the college. Five
months after signing the Declaration, the British burned his library.
As one colleague reported, "He would lay aside the cloth to take
revenge on them, I believe he would send them to the devil if he could."
Born near Edinburgh, Scotland. Died at Princeton, NJ. Nov 15,1794.
http://thedeclarationofindependence.org/JohnWitherspoon.com/
http://www.ushistory.org/declaration/signers/witherspoon.htm
1631- English clergyman Roger Williams first
arrived in America. He soon began questioning Massachusetts' religious
policies which fused church and state matters. Williams was banished
to Rhode Island five years later, where at Providence he established
the first Baptist church in America. He is known today as the “founder
of Rhode Island.”
http://memory.loc.gov/ammem/today/feb05.html
1644- the first branding law by a colony was enacted by Connecticut.
It provided that all cattle and swine older than six months be earmarked
or branded before May 1, 1644, and that the marks be registered. The
penalty for violation was five shillings a head, two of which were paid
to informers..
1736- The English Wesley brothers, John (32)
and Charles (28) first arrived in America at Savannah, GA. They had
been invited by Georgia governor James Oglethorpe as missionaries to
the American Indians. They were
co-founders of Methodism.
http://gbgm-umc.org/umhistory/wesley/
1777- Changing European historic tradition, King George abolished
laws of entail and primogeniture. Entail
is a means of willing property to a specific and unchangeable hierarchy
of inheritors. Primogeniture
is the right of the eldest child in a family, usually the eldest son,
to inherit his parents’ entire estate. In Europe, all property and rights
went to the first born, and were willed primarily to the first born
male, with the rest of the family having to depend on the eldest son.
This was one of the most
profound far reaching
changes to both the financial and moral differences between the old
world and the new world.
1780- The estimated colonial
population was 2,7821,000. The winter was very cold and the Continental
Army had suffered its worst privations, its greatest defeats, and its
darkest hours. It would continue
to lose battles but, by the time turned into a well-trained fighting
force by European officers and aided by allied French forces, it endured
and marched to ultimate victory at Yorktown, VA, in August 1781. The diplomatic struggle continued. Primarily articles of peace were secured on November 30,1782, after
long and difficult negotiations. The Treat of Paris by which the was
officially ended and independence formally acknowledged by Great Britain,
was not signed on September 3,1783.
1846- The first newspaper published on the Pacific Coast was the
Oregon Spectator, a semimonthly issued in Oregon City, OR. Its slogan was “ Westward the star of the empire
takes its way.”
1861- Louisiana delegation except Dominique Bouligny withdraws from Congress. Mr.
Bouligny was opposed to the doctrine of secession, and was the only
representative from a seceding state that did not leave his seat. During
the civil war he remained in the north, dying in Washington before its
close.
http://famousamericans.net/dominiquebouligny/
http://www.congressionalcemetery.org/PDF/Obits/B/Obits_Bouligny.PDF
1861 - Cincinnati, Ohio resident, Samuel Goodale, patented the
moving picture peep show machine. After depositing a coin and turning
a crank on the side of the ornate box, a flickering movie appeared.
Pictures were placed on leaves fastened by one edge to an axis in such
a way that they stood out like spokes. As the shaft revolved, different
images were seen in motion.
1883-The Southern Pacific Railroad completes
its transcontinental "Sunset Route" from New Orleans to California,
consolidating its dominance over rail traffic to the Pacific. One of
the most powerful railroad companies of the 19th century, the "Espee"
(as the railroad was often called) originated in an ambitious plan conceived
in 1870 by the "Big Four" western railroad barons: Collis
P. Huntington, Charles Crocker, Leland Stanford, and Mark Hopkins. A
year earlier, the Big Four's western-based Central Pacific had linked
up with the eastern-based Union Pacific in Utah, creating the first
transcontinental American railway. With that finished, the "Big
Four" began to look for ways to increase their control over West
Coast shipping, and decided to focus their efforts on extending the
California-based Southern Pacific southward.
By
1877, the Southern Pacific controlled 85 percent of California's railroad
mileage. Huntington, who now dominated the company, saw an excellent
opportunity to create a transcontinental line through the southern United
States. Huntington had to act fast if was to beat the competition. The
Texas and Pacific Railroad was already pushing westward toward the Pacific
at a fast pace. Marshalling his awesome energy and financial resources,
Huntington began driving his Southern Pacific line eastward. He won
the race in 1881, when he linked the Southern Pacific to the Santa Fe
Railroad at Deming, New Mexico, creating the second American transcontinental
railway. Two years later, on February 5, 1883, Huntington gained full
control of a number of smaller railroads, creating the Southern Pacific's
"Sunset Route" from New Orleans to California. With the "Sunset
Route," Huntington confirmed his domination over California rails.
He had taken considerable financial risks to build the Southern Pacific
system, and he collected very considerable financial rewards. The Southern
Pacific had a near monopoly over rail service to California, and Huntington
and his associates took advantage of the situation by charging high
shipping rates. Termed "the Octopus" for its tentacle stranglehold
on much of the California economy, the Southern Pacific inspired Californians
to create some of the first strong public regulations over railroads
in American history. But despite the anger and outrage Huntington's
exploitation inspired, few would deny that the mighty Southern Pacific
Railroad played an essential role in fostering the growth of a vibrant
California economy for decades to come.
1887 -The Chicago Evangelization
Society was organized by evangelist D. L. Moody, 50. Two years later,
the Society established the Bible Institute for Home and Foreign Missions.
Moody died in 1899, and in 1900 the school was renamed Moody Bible Institute
1889-According to many sources on the internet, but not confirmed,
the word “hamburger”
first appears in the Walla Walla Union newspaper.
It is perhaps this
allegation that MacDonald’s “How ya doin’? How you doin’?”
fellow meets his
girl, and asks here where she is from: “Walla, Walla.”
While this date and
event appears on many “internet calendars,” we could
not confirm nor deny
it.
yhttp://www.whatscookingamerica.net/History/HamburgerHistory.htm
http://www.geography.ccsu.edu/harmonj/atlas/burgers.html
1900 -- Surrealist painter Yves Tanguy born.
http://www.cosmopolis.ch/english/cosmo14/yvestanguy.htm
http://www.ibiblio.org/wm/paint/glo/surrealism/
http://www.artcyclopedia.com/artists/tanguy_yves.html
1914-Birthday of famous American author William Burroughs, St.
Louis, Missouri. His “Naked Lunch” is considered an American classic.
Perhaps
not realized by many,
he is the scion of the famous computer business
corporation, graduate
of Harvard University, besides being well known
for his drug experiments.
http://www.altreel.com/cult-fiction/Burroughs.html
http://www.streettech.com/bcp/BCPgraf/Glossary/gloss1.html#Burroughs
1916 - For the Victor Talking Machine Company, Enrico Caruso recorded
"O Solo Mio". The company eventually became Victor Records,
then RCA Victor
1917- Mexico's present constitution was adopted, embracing major
social reforms. This is a national
holiday in Mexico.
1917- An Immigration
Act was passed by Congress over President Woodrow Wilson's veto ( on
January 29th ). The law required
a literacy test for immigrants and barred Asiatic labors, except for
those from countries with special agreements or treaties with the United
States. A series of reforms was introduced and passed
over Wilson veto to the United States. The country was moving to an
isolationist policy.
1921- Yankees purchase 20 acres in the Bronx
for Yankee Stadium
1924- President Wilson was the first president buried in Washington,
in the National Cathedral, the
Protestant Episcopal
Cathedral of Sts Peter and Paul.
1928- birthday of Donald “Don” Hoak, baseball player born at Roulette,
PA> Hoak was a tough third
baseman who played with the Brooklyn Dodgers, the Chicago Cubs and the
Pittsburgh Pirates. He was married
to singer Jill Corey. Died at Pittsburgh, PA, Oct 9, 1969. 1933- country
singer Claude King was born in Shreveport, Louisiana. His recording
of "Wolverton Mountain" was a big hit on both the pop and
country charts in 1962.
1929—Birthday of drummer
and author Hal Blaine, Holyoke, MA
http://www.molehillgroup.com/hal_blaine.htm
http://www.drummerworld.com/drummers/Hal%20Blaine.html
1933 -- Golden Gate Bridge work commences in San Francisco. The
California. Bridge opens May 28, 1937.
http://www.goldengatebridge.org/photos/history.html
http://www.sfmuseum.net/hist10/strauss.html
1934- birthday of “Hank” Aaron, baseball
executive and Baseball Hall of Fame outfielder, born Mobile, AL. Holds
major league record for most career home runs (755), home runs with
one club (Braves, 733), RBIs (2,297), total bases (6,856), most games
played (3,298) and many others. •
Hit 20 or more home runs for 20 consecutive seasons (1955-1974).
Named to 24 All Star games.
http://www.baseballhalloffame.org/hofers_and_honorees/hofer_bios/aaron_hank.htm
1936-Birthday of vocalist June Tyson, Albermarle, NC
http://www.artistdirect.com/music/artist/card/0,,504102,00.html
http://www.edmicheljazzproducer.com/sun_ra.htm
1936 - The first Charlie Chaplin talkie, "Modern Times",
was released. Chaplin’s voice was heard in the film, but he was difficult
to understand as he was singing gibberish that no one understood. Paulette
Goddard who played the part of a waif was the movie's star.
http://www.filmsite.org/mode.html
1940- Glenn Miller records “Tuxedo Junction,” (Bluebird 10612 ).
1941- Motown songwriter and sometime singer Barrett Strong was
born in Mississippi. Strong's 1960 recording of "Money" was
one of the first hits for Berry Gordy's Motown company. But Strong soon
began concentrating on songwriting, collaborating with Norman Whitfield
on some of the Temptations' biggest hits, including "Just My Imagination,"
"Psychedelic Shack" and "Cloud Nine."
1942- Roger Staubach, pro Football Hall of Fame quarterback, born
Cincinnati, OH. Heisman Trophy winner as Navy junior in 1963; led Dallas
to 2 Super Bowl titles (1972,78) and was Super Bowl MVP in 1972; 5-time
leading passer in NFC (1971,73,77-79).
1942-Birthday of pianist Keith Ingham, London, England
http://www.jazzcanadiana.on.ca/_Ingham.htm
http://www.jazzcanadiana.on.ca/INGHAM.HTM
http://www.jazzbymail.com/artists/ingham.html
1944- guitarist and keyboard player Al Kooper, a major figure in
the blues-rock movement of the 1960's, was born in Brooklyn, New York.
In 1965, he helped form the Blues Project. And two years later, he and
Steve Katz put together Blood, Sweat and Tears, but Kooper left the
group before it achieved commercial success. By the '70s, Kooper was
involved more in producing than recording. He discovered the groups
Lynyrd Skynyrd and the Tubes.
http://www.alkooper.com/bio.html
http://jhendrix110.tripod.com/AlKooper.html
1948---Top Hits
Golden Earrings -
Peggy Lee
How Soon - Jack Owens
Ballerina - Vaughn Monroe
I’ll Hold You in My Heart (Till I Can Hold You in My Arms) - Eddy Arnold
1948- Dick Button became the first American to win a gold medal
in figure skating when he triumphed at the Fifth Winter Olympics at
St. Moritz, Switzerland. Button earned a second gold medal four years
later at Oslo, Norway.
1950- Stan Kenton’s Band records Shorty Roger’s “Jolly Rogers,”
“Blues in a Riff,” Hollywood, CA.
1953 - "Peter Pan", the Walt Disney film, opened at the
Roxy Theatre in New York City. Although the film is now said to be a
great work, not all of the 1953 critics liked the Disney stylization
J.M. Barrie's play.
1953 - Lucille Ball and Desi Arnaz excitedly received their first
of several Emmy Awards at the 4th Annual Emmy Awards banquet in Los
Angeles. I Love Lucy won for Best Situation Comedy and Lucille
Ball won for Best Comedienne. Other winners at the event included Robert
Montgomery Presents for Best Dramatic Program; Dragnet for
Best Mystery, Action, or Adventure Program; Your Show of Shows
won for Best Variety Program; and Time for Beany was chosen Best
Children's Program for the third year in a row. Emmys were originally
going to be called "Ikes," a short form for the television
iconoscope tube, but the name had problems, as it was also the nickname
of war hero and future President Dwight D. Eisenhower. Ultimately, the
nickname chosen was a feminization of "Immy," a term commonly
used for the early image orthicon camera tube.
1955-WNEW Radio in New York City announces the results of its annual
music popularity poll. The winners are Perry Como, Patti Page, the Crew-
Cuts and Ray Anthony.
1956---Top Hits
Rock and Roll Waltz - Kay Starr
See You Later, Alligator - Bill Haley & His Comets
No, Not Much! - The Four Lads
Sixteen Tons - Tennessee Ernie Ford
1957- Bill Haley and the Comets arrived in London for their first
British tour. Haley's popularity was already beginning to decline in
North America, but he continued to tour regularly in Britain and Europe
through the mid-1970's.
1961 - The Shirelles finished their first week at #1 on the music
charts with "Will You Love Me Tomorrow". The song spent two
weeks at the top spot. It was the group’s first #1 song and the first
#1 hit for the songwriter. She became a star in her own right, having
many singles and albums in the 1970s. Her name was Carole King. 1972
- Bob Douglas became the first black man elected to the Basketball Hall
of Fame in Springfield, MA. Douglas not only coached the New York Renaissance,
an all-black team which won 88 consecutive games in 1933, he owned the
team.
1961-Two big influences of '60s pop make their debuts. Mary Wells'
with "Bye Bye Baby" and Gene Pitney with "Love My Life
Away." (1961)
1963 -- Co-founder of Chess records, Leonard Chess, tells Billboard,
"As it stands today, there's virtually no difference between rock
& roll, pop & rhythm & blues. The music has completely overlapped."
http://www.ci.chi.il.us/Landmarks/C/Chess.html
1964---Top Hits
I Want to Hold Your Hand - The Beatles
You Don’t Own Me - Leslie Gore
Out of Limits - The Marketts
Begging to You - Marty Robbins
1966- Sergeant Barry Sadler's "Ballad of the Green Berets"
entered the US charts on its way to number one. Released at the height
of the Vietnam War, it became one of the fastest sellers in the modern
record business. It climbed very quickly on the charts and stayed number
one for 13 weeks. The song was originally recorded for distribution
to American troops, but RCA had Sadler record it with a full complement
of studio musicians. Sadler soon resumed his military career, and was
not heard from again until 1978 when he was involved in the first of
two well-publicized shooting incidents. He later suffered brain damage
when he was shot during a robbery at his home in Guatemala.
1966-Surf-rockers the Marketts enter the Hot 100 for the fifth
and last time with the "Batman Theme." It reaches #17 in nine
weeks on the charts.
1967 -"The Smothers Brothers Comedy Hour"
premieres on CBS (later ABC, NBC). The CBS show lasted until April 4,
1969 when it was cancelled by CBS
for being
too controversial. The hour-long
show strongly influenced television humor during the two years it aired.
Tom and Dick, however, frequently found themselves at odds with the
censors over material that would be considered tame today.
Guests and cast members frequently knocked the Vietnam War and
the Nixon Administration. Acts
with antiwar protestors such as Harry Belafonte were often cut.
http://www.tvparty.com/smothers2.html
http://www.smothersbrothers.com/
http://www.masonwilliams-online.com/careertvcom.html
http://www.partialobserver.com/ArticleDisplay.cfm?ArticleID=570
1968- Dr. Benjamin Spock; William Sloan Coffin the chaplain of
Yale University; novelist Mitchell Goodman; Michael Ferber, a graduate
student at Harvard; and Marcus Raskin a peace activist are indicted
on charges of conspiracy to encourage violations of the draft laws by
a grand jury in Boston. The charges are the result of actions taken
at a protest rally the previous October at the Lincoln Memorial. The
four are convicted and Raskin acquitted on June 14th.
1969- birthday of singer/dancer Bobby Brown, Roxbury, MA. http://www.yesterdayland.com/popopedia/shows/music/mu1227.php
1969-The Beatles "Yellow Submarine" album, the soundtrack
to the animated film of that name, is awarded a gold record. The album
contains only four previously unreleased Beatles songs: Harrison’s "It's
All Too Much" and "Only a Northern Song" and Lennon and
McCartney's "Hey Bulldog" and "All Together Now."
(1969)
1972---Top Hits
American Pie - Don McLean
Let’s Stay Together - Al Green
Day After Day - Badfinger
One’s on the Way - Loretta Lynn
1972- Paul Simon released his first solo single following his breakup
with Art Garfunkel, "Mother and Child Reunion." Recorded in
Jamaica, it reached number four on the Billboard Hot 100. The second
hit off the record "Me and Julio Down by the Schoolyard,"
turns out to be one of quirkiest songs of the year. (1972)
1972-Neil Young's "Heart Of Gold" is released.
1973-Elton John's "Crocodile Rock" goes gold.
1975-North Vietnamese Gen. Van Tien Dung
departs for South Vietnam to take command of communist forces in preparation
for a new offensive. In December 1974, the North Vietnamese 7th Division
and the newly formed 3rd Division attacked Phuoc Long Province, north
of Saigon. This attack represented an escalation in the "cease-fire
war" that started shortly after the Paris Peace Accords were signed
in 1973. The North Vietnamese wanted to see how Saigon and Washington
would react to a major attack so close to Saigon. President Richard
Nixon and his successor, Gerald Ford, had promised to come to the aid
of South Vietnam if the North Vietnamese launched a major new offensive.
With Nixon's Watergate resignation and Ford facing an increasingly hostile
Congress, Hanoi was essentially conducting a "test" attack
to see if the United States would honor its commitment to Saigon. The
attack was much more successful than the North Vietnamese anticipated:
the South Vietnamese soldiers fought poorly and the United States did
nothing. Emboldened by their success, the North Vietnamese decided to
launch a major offensive against the South Vietnamese. "Campaign
275" began on March 1, 1975. The North Vietnamese forces quickly
overran the South Vietnamese and the United States failed to provide
the promised support. Saigon fell on April 30 and the South Vietnamese
government officially surrendered.
1976- before a roaring crowd of fellow countrymen, Austrian Franz
Kalmmer won the downhill ski race at the XIIth Winter Olympic Games
at Innsbruck, Austria. Clad in bright yellow, Klammer electrified a
worldwide television audience
with his breathtaking run.
1979-The Pointer Sisters' version of Bruce Springsteen's "Fire"
turns gold the same month as it reaches #2.
1980---Top Hits
Rock with You - Michael Jackson
Do that to Me One More Time - The Captain & Tennille
Coward of the County - Kenny Rogers
I’ll Be Coming Back for More - T.G. Sheppard
1987 - For the first time, the Dow Jones industrial average closed
above the 2,200-point mark, closing at 2201.49.
1988---Top Hits
Need You Tonight - INXS
Could’ve Been - Tiffany
Hazy Shade of Winter - Bangles
Wheels - Restless Heart
1988-military strongman General Manuel Antonio
Noriega and 16 associates on drug smuggling and money laundering charges.
Noriega, the de facto dictator of Panama since 1983, was charged with
smuggling marijuana into the United States, laundering millions of U.S.
dollars, and assisting Colombia's Medellin drug cartel in trafficking
cocaine to America. The Panamanian leader denied the charges and threatened
expulsion of the 10,000 U.S. service personnel and their families stationed
around the Panama Canal. In 1968 Noriega, then a first lieutenant in
the Panamanian National Guard, played an important part in a coup that
ousted President Arnulfo Arias and brought General Omar Torrijos to
power. Early the next year, Torrijos rewarded Noriega for his loyalty
by promoting him to lieutenant colonel and appointing him chief of military
intelligence. In 1970, Noriega, who had first been approached by the
Central Intelligence Agency (CIA) while a promising military student
in the early 1960s, went on the payroll of the CIA. The United States
used Noriega as a check against the left-leaning Torrijos and as an
informer on Central American revolutionaries, the Colombian drug cartels,
and communist Cuba, which Torrijos, though not a Marxist himself, admired
and visited. Noriega, meanwhile, developed his G-2 intelligence agency
into a feared secret police force and became involved in the drug trade.
The U.S. government was aware of his drug trafficking, and in 1977 he
was removed from the CIA payroll. However, in 1981, the United States
organized and financed the anti-Sandinista Contras in Nicaragua, and
Noriega was brought back into the CIA fold. For a salary of close to
$200,000 a year, Noriega provided intelligence about the Sandinistas
and Cubans to the Americans and aided the Contras in their drug-trafficking
efforts. Noriega's criminal trial began in 1991, and he pleaded innocent.
On April 9, 1992, he was found guilty on eight counts of drug trafficking,
racketeering, and money laundering, marking the first time in history
that a U.S. jury had convicted a foreign leader of criminal charges.
He was sentenced to 40 years in federal prison.
1991- Joni Mitchel inducted into the Canadian
Hall of Fame.
1993-President William Clinton signed legislation requiring companies
with 50 or more employees ( and all government agencies) to allow employees
to take up to 123 weeks unpaid leave in a 12-month period to deal with
the birth or adoption of a child or to care for a relative with a serious
health problem. The bill became
effective August 5, 1993.
1994-Avowed White supremacist Byron de le
Beckwith is convicted of NACCP
field representative Medger Evers' murder, more than thirty years, ending
the lengthiest murder case in American history. Evers was gunned down
in the driveway of his Jackson, Mississippi, home while his wife, Myrlie,
and the couple's small children were inside waiting for their father.
Beckwith, widely recognized as the killer, was prosecuted for murder
in 1964. However, two all-white (and all-male) juries deadlocked and
refused to convict Beckwith. A second trial held in the same year resulted
in a hung jury. The matter was dropped when it appeared that a conviction
would be impossible. Myrlie Evers became the national chairwoman of
the NAACP and refused to give up, pressing authorities to re-open the
case. In 1989, documents came to light showing that jurors were illegally
screened. Prosecutor Bobby DeLaughter worked with Myrlie Evers to force
another prosecution of Beckwith. After four years of legal maneuvering,
they were finally successful. At the third trial they produced a riflescope
from the murder weapon with Beckwith's fingerprints. Justice was finally
achieved when Beckwith was convicted and given a life sentence by a
racially diverse jury in 1994. The story was dramatized in Rob Reiner's
movie, Ghosts of Mississippi.
Beckwith appealed the conviction, claiming that he had not been
granted a speedy trial as required by the Constitution. However, the
appeals courts have rejected his argument.
http://www.arlingtoncemetery.co
http://www.galegroup.com/free_resources/bhm/bio/evers_m.htmm/mwevers.htm
1996-Bank of America announced it would open
a branch on America Online, allowing customers to bank on the Internet.
Online banking and financial applications would become extremely successful
in attracting customers.
1996- General Motors launched a Web site
with more than 16,000 pages and 98,000 links. GM's site would become
one of the largest on the Web and eventually offered online car shopping.
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