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Independent
Reg. Sales Managers:
Philadelphia, Baltimore, Washington, D.C., Florida, Georgia. Other positions available nationally. Vehicle & Equipment Funder.
Earnings potential is unlimited. Two years outside leasing/finance sales, proven track closing deals. Est. customer base/vendors a plus. Click here for more info.
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Wednesday, February 1, 2006
Headlines---
Feds Raise Rate ¼ Point
Classified Ads---Senior Management
Wheeler "Passing Away Story" Pulled
Placard---"Serenity Prayer"
Commonwealth Cap. "Funder List" Up-dated
Top Stories--January 23-27
236 Y/E Lease Employees/$7.7BB Dec.
Classified Ads-Help Wanted
Leasing Conference--Spring 2006
"Sales Makes it Happen"---Doug Houlahan
Leasing Issues Loom as House Reconvenes
Morgan Stanley Sells Aircraft Leasing Biz
NACM's Worrisome Downward Trend
Studebaker-Worthington Leasing Parent hit
News Briefs---
You May have Missed---
Sports Briefs---
California Nuts Brief---
"Gimme that Wine"
Calendar Events Today
Today's Top Event in History
This Day in American History
American Football Poem
######## surrounding the article denotes it is a "press release"
Feds Raise Rate ¼ Point
The economy under former Fed Chairman Greenspan:
The Fed Official statement:
"The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 41/2 percent.
"Although recent economic data have been uneven, the expansion in economic activity appears solid. Core inflation has stayed relatively low in recent months and longer-term inflation expectations remain contained. Nevertheless, possible increases in resource utilization as well as elevated energy prices have the potential to add to inflation pressures.
"The committee judges that some further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance. In any event, the committee will respond to changes in economic prospects as needed to foster these objectives.
"Voting for the F.O.M.C. monetary policy action were: Alan Greenspan, chairman; Timothy F. Geithner, vice chairman; Susan S. Bies; Roger W. Ferguson Jr.; Jack Guynn; Donald L. Kohn; Jeffrey M. Lacker; Mark W. Olson; Sandra Pianalto; and Janet L. Yellen.
"In a related action, the board of governors unanimously approved a 25-basis-point increase in the discount rate to 51/2 percent. In taking this action, the board approved the requests submitted by the boards of directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Kansas City, Dallas and San Francisco."
For full coverage, please see "News Briefs."
[headlines]
---------------------------------------------------------------
Classified Ads---Senior Management
For a larger view, please go here:
http://www.leasingnews.org/items/LN_Classified/Fresno,CA2.jpg
Atlanta, GA
Experienced leasing exec looking for next challenge. Various asset types, deal sizes and channels. Turn-around or expansion opportunity.
Email: akimicata@mindspring.com
Baltimore, MD
25 year veteran of commercial and equipment leasing seeking a senior management position with leasing or asset based financing company in the southeast (Florida preferred)
Email: kellogg_md@yahoo.com
Chicago, IL
25 + yrs. exp. 18 w/ two captives. Currently SVP captive started for Japanese multi-national distributor. Looking to do same w/another mfg. or distributor.
Email: pilot13@sbcglobal.net
Denver, CO .
Fortune 500 GM/SVP wants to team up with aggressive lender looking for Western expansion mid-market equip. finance/leasing. 20+ years experience within Rocky Mountain/Southwest and Ca markets.
Email: legal@csotn.com
Hope, NJ.
25 years in optimizing call center operations, collections, billing, and back end revenue generation. Experienced in $7 + billion dollar portfolios. Verifiable achievements.
E-mail: cmate@nac.net
Irvine, CA.
Credit executive, portfolio manager and syndication facilitator. Extensive business building experience in small and mid-ticket operations. Highly innovative. Fortune 100 audit and technology skills. Bottom-line manager.
Email: lenhubbard@bigfoot.com
Jacksonville, FL .
15+yrs Collections/Customer Service Expert. InfoLease, CARMS,managed staffs excess 100 VERY successfully - will relocate WITHIN Florida for right position ~ SIMPLY THE BEST
Email: rafftink@aol.com
Lawton, OK.
Twenty years, I have been the President of Cash Financial Services. I sold my loan portfolio.
email: bobmooreok@email.com
Resume.
http://www.geocities.com/bobbybenmoore/
Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future.
Email: bob33483@yahoo.com
New York, NY, NJ, Ct Tri-State
Top Exec. middle and big ticket, top skills treasury, funding, ops,transaction detail, syndication, ready to max profit, help build quality operation. right now!
E-Mail: leasefinance@optonline.net
Orange County, CA
25+ years experience large ticket equipment finance companies and commercial banking. Operations, documentation, legal, credit, workouts, portfolio management. $2+Billion portfolio. Seeking CFO, COO or similar.
Email: finance1000@cox.net
Philadelphia, PA.
27 yrs. exp. sales, ops., credit, strategy, P&L mngmet. Most recently created & executed the biz plans for 2 highly successful Bank-owned small ticket leasing subsidiaries.
email: mccarthy2020@comcast.net
Portfolio Management Consultant ;
25+years experience in Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous Process Improvement, Back end Revenue Generation, Cost per Collection Analysis. $5+Billion Portfolio expertise.
Email: efgefg@rogers.com
Salt Lake City, UT
GM in Sales, Marketing & Operations for Several technology captives. Seeking new adventure in Western States. Consultant of full time.
Email: stevegbdh@hotmail.com
San Francisco, CA .
25 years experience w/global leasing company, sales,marketing,business dev., P&L responsibility, asset mgmt, brokering and re-marketing. Interested in joining an est. firm with a future.
Email: rcsteyer@yahoo.com
Sausalito, Ca
Sr. Corp. officer, presently serving as consultant, fin. service background, M&A, fund raising, great workout expertise, references
Email: nywb@aol.com
Syracuse, N.Y.
Int. equip. leasing exec. 25 yrs global P&L sr. mngt., including corporate turnarounds, strategic planning, new biz dev., structure finance, contract neg., vendor leasing specialist.
Email: jimh356094@aol.com
Wilmington, DE.
Over 15 years experience managing Credit, Risk Management and Fraud operations for large Financial Institution. Proven Results. Anywhere between NYC and DC for right opportunity.
Email: cklous@comcast.net
For a full listing of all "job wanted" ads, please go to:
http://216.66.242.252/AL/LeasingNews/JobPostings.htm
To place a free "job wanted" ad, please go to:
http://216.66.242.252/AL/LeasingNews/PostingForm.asp
[headlines]
--------------------------------------------------------------
Ken Wheeler "Passing Away Story" Pulled
by Christopher Menkin, editor
The story sent to subscribers late Monday morning, January 30, on the passing of EFG Leasing (formerly Equipment Finance Group) president Kenneth Wheeler was removed from the web site later that afternoon. The information in the story came directly from Ken's son, Sean, who wanted readers to know that his father died, what he died from, and what was going to happen to EFG Leasing.
In reality, when we first called EFG Leasing, the receptionist Tamara Owens was not aware Ken had passed away at 7pm the previous night. When we also made the announcement, many readers questioned whether the story was accurate, asking where was the obituary, several adding they would never believe anything Sean Wheeler would say.
There were also twelve readers who wrote e-mails that the cause of death and story itself "went over the line." Six asked to be removed from the subscription list. Several specifically did not like the use of the picture of "The Elbow Room" or the title, "EFG Closed."
There were nine recent stories about the company, most centered on rumors that the company was closed, while it was not, with a similar title used, and in fact, the "Top Story" collection title is "EFG Leasing Closed?" In addition, four stories and several Weekly Bulletin Board complaints about Ken's taking a 2 1/2 hour lunch break at "the Elbow Room." Ken several times replied he met with his accountant and attorney during lunch there every day during this time period. As a matter of fact, I spoke to him directly there several times as he not only returned all telephone calls, but had given me other telephone numbers to reach he and Sean Wheeler, including his favorite haunt.
In my many years of experience where I served on the board of directors of the Salvation Army Adult Rehabilitation Center, I learned that families are often "powerless" about the control of their family member's addiction. Some of the readers got this message from Sean Wheeler and "The Elbow Room."
"Geez, that is so sad. Hopefully someone will read this and make changes in their lifestyle and avoid the same ending."
All the best Kit,"
gary
(Gary Saulter)
"You did a "good job" telling an unfortunate story.
"Leasing News tells the truth, keep it up."
(From a Fresno reader, who knew Ken well.)
"Alcoholism is both a mental and physical disease. It does not come from excess drinking. I believe that many potential alcoholics exhibit alcoholic tendencies before they become full-blown alcoholics. It is one of the rare diseases that has no known cure. Treatment is primarily through abstinence.
"The immediate physical effects of drinking alcohol range from mild mood changes to complete loss of coordination, vision, balance, and speech -- any of which can be signals of the temporary systemic poisoning known as acute alcohol intoxication, or drunkenness. Alcoholism is insidious among young people and the elderly, in part because the symptoms are not easily recognized until the affected person becomes truly alcohol dependent.
"Additional behavioral changes include:
"Solitary drinking
Unexplained mood swings
Missing work
Loosing interest in social activities
Driving Under The Influence (DUI)
"For more information on alcoholism please visit http://alcohol411.info ".
Jeffrey Taylor
4844 East Andora Drive
Scottsdale, AZ 85254
(602) 867-9382 (work/home)
(602) 708-4981 (cell)
And we received other e-mail besides the ones who did not like the tenor of the article:
"This is another ploy by Ken and Sean Wheeler. He isn't dead.
They are just trying to get away with something."
(name with held)
"I'm not buying it! Do you have a copy of his obituraire?"
(name withheld)
In the article, we noted that Sean had not written it yet to submit to a newspaper as he was not the executor of the estate, although he was helping out by contacting funeral homes and most likely a funeral would be the end of the week.
I hope this was a wake up call to many. Ken was quite a controversial person, with many vendors and brokers very angry at him. I can tell you he always returned my telephone calls, always looked into the complaints, and returned with plausible answers, actually returning money, and in several instances the vendor had taken the lease elsewhere, as he was taking too long ( and he would explain why.) When I wrote this, the hate mail came in as if I was "protecting him."
It is with that spirit, and in honor of Ken Wheeler, that the story was pulled. If twelve people had taken the tenor incorrectly, it was twelve people too many. May he rest in peace.
[headlines]
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Placard---"Serenity Prayer"
[headlines]
--------------------------------------------------------------
Commonwealth Capital "Funder List" Up-dated
Commonwealth Capital Corp. ("Commonwealth") is headquartered in Clearwater, FL, with offices in Exton, PA. Commonwealth was founded in 1978 for the purpose of leasing & financing Information Technology equipment. Since then, Commonwealth has grown its core business and become an NASD registered Broker/Dealer, acting as General Partner in "IT" Leasing Income Funds in both private and public funds.
Commonwealth does not originate leasing transactions, it purchases them from the originating lessors who are compensated in the form of origination fees. In addition, lessors are retained as remarketing agents and are further compensated through commissions for remarkets and, upon the achievement of return on equity objectives, residual sharing.
Terms financed are 36 months or less. Average transaction size is $350,000.
Joshua H. Jermaine is a Leasing Acquisitions Manager for Commonwealth. Josh is in his 10th year in the leasing industry, starting with ATEL in 1995. Josh also worked at eLease, and was an independent broker for a number of years. He has an extensive background in pricing transactions, specializing in "operating leases" and "open-ended" FMV's.
Mr. Jermaine says a key benefit of working with Commonwealth is its organizational structure. The decision making process is streamlined so that the company can react quickly to opportunities that are presented. The result is enhanced market sensitivity which allows lessors to react quickly when needed. The closing process is extremely efficient and the documentation is industry standard.
If you have any questions about Commonwealth or its products, contact Josh Jermaine at 877-654-1500 or jjermaine@ccclease.com
Funder - Update
A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen
Rank |
Name
In Business Since
Contact
Website
Leasing Association |
Employees |
Geo
Area |
Dollar
Amount |
Equipment Restrictions |
A |
B |
C |
D |
E |
8 |
|
65+ |
National |
$50,000 - $1,000,000 per schedule |
Only funding IT and Medical equipment |
Y |
Y |
Y |
Y |
N |
(N) Commonwealth Capital Corporation - We are an income fund and you can check on the NASD website for credibility
To view the complete list, please click here.
To view the full list, please go here:
http://www.leasingnews.org/Funders_Only/Funders.htm
[headlines]
---------------------------------------------------------------
Top Stories--January 23-27
These are the top ten stories most "opened" by readers last week.
(1) GE to eliminate small equipment leasing business?
http://www.leasingnews.org/archives/January%202006/01-25-06.htm#ge
(2) Cartoon-Marlin Credit Department
http://www.leasingnews.org/archives/January%202006/01-27-06.htm#toon
(3) Puget Sound Leasing added "Funder List"
http://www.leasingnews.org/archives/January%202006/01-27-06.htm#funder
(4) Service not Mentioned in NorVergence Lease Contracts
http://www.leasingnews.org/archives/January%202006/01-27-06.htm#norv
(5) Greenspan Opposes Wal-Mart Bank Loophole
http://www.leasingnews.org/archives/January%202006/01-27-06.htm#loophole
(6) Fraud Prevention Best Practices
http://www.leasingnews.org/archives/January%202006/01-25-06.htm#fraud
(7) T-bills hit highest in five years
http://www.leasingnews.org/archives/January%202006/01-25-06.htm#tbill
(8) "Story Credit" List up-dated
http://www.leasingnews.org/archives/January%202006/01-26-06.htm#story
(9) Terry Winders joins "Financial Training & Sales" List
http://www.leasingnews.org/archives/January%202006/01-26-06.htm#fns
(10) 2005 Housing Market and the "Yield Curve"
http://www.leasingnews.org/archives/January%202006/01-26-06.htm#housing
[headlines]
--------------------------------------------------------------
236 Year-end New Lease Employees/$7.7 billion December
The Equipment Leasing Association (ELA) Monthly Leasing Index (MLI) shot up to $7.7 billion in December, the high of the year, to the November's so-called " low anomaly" of $3.9 billion in new leases and loan volume from 19 major leasing companies, who make up the ELA MLI index. Employment only saw 236 new employees for the entire year of 2005; .026%.
"December's larger than normal (sales) total was expected as the fourth quarter drew to a close and respondent companies were closing as many deals as possible. Hopefully this level of new business volume will continue in 2006," said Ralph Petta, the ELA's vice president of Industry Services, "One respondent reported that their December totals were greater than the rest of the year combined, "he added. "All but one respondent recorded increases in their new business volume for December."
The year began at $4.0 billion and ended at its highest monthly level of $7.7 billion as the quarterly reports give an almost steady climb.
Credit approvals were highest in the first quarter with January hitting a high of 89.1%, then fell in April and May, but the last two quarters show a rising increase to 81.45% at the end of the year.
Charge offs also increase from .04% at the beginning of the year to .085% at the end. By the quarterly increase, as business increases, so did the average losses.
Portfolio quality remained stable with delinquencies remaining fairly constant when compared to November. Charge-offs as a percentage of net receivables, increased to 0.85% over November's 0.53%. According to Petta, the increase can be attributed to one respondent with larger than average figures who reported that they cleaned out their aircraft portfolio, absorbing those losses.
Aging of portfolio receivables appears stable with no apparent major changes, fluctuations due to seasons perhaps:
Only 236 employees were added to these leasing companies through the year. January started with 8,752 and ended with 8,988. While the second quarter rose to 9,242, the numbers cooled down as per the following chart.
Participants in the
ELA Monthly Leasing Index
ADP Credit Corporation
Amsouth Leasing Corporation
Bank of America
Caterpillar Financial Services Corporation
CIT
De Lage Landen Financial Services
First American Equipment Finance
GreatAmerica Leasing
Hitachi Credit America Corp.
HP Financial Services
John Deere Credit Corporation
Key Equipment Finance
LaSalle National Leasing Corporation
Marlin Leasing Corporation
RBS Asset Finance
Siemens Financial Services
U.S. Bancorp Leasing Financial
Verizon Capital Corporation
Wells Fargo Equipment Finance
[headlines]
--------------------------------------------------------------
Classified Ads---Help Wanted
Equipment Finance & Leasing Representative
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Job opening in
Baltimore/Virginia Region
In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout Baltimore/Virginia Region. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at www.mandtbank.com and view posting 4044
At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!
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Funding Manager
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FUNDING MANAGER: Seeking a very organized, detail oriented Funding Manager with experience in discounting consumer
and commercial auto loans and leases.
Top salary. Send resume via email to ekaye@advantagefunding.us
or fax to 718 392 5427.
About the Company: Advantage Funding is the leader in automotive and equipment lease financing, Long Island City, NY.
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Independent Regional Sales Manager
|
Independent
Reg. Sales Managers:
Philadelphia, Baltimore, Washington, D.C., Florida, Georgia. Other positions available nationally. Vehicle & Equipment Funder.
Earnings potential is unlimited. Two years outside leasing/finance sales, proven track closing deals. Est. customer base/vendors a plus. Click here for more info.
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Sales Person
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Motivated Sales Person
Burbank, California
Long established lessor, "app. only" to
$100K, commercial & structured
transactions up to $10 million.
Call Jim McFeeters
818-843-8686 X25
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[headlines]
--------------------------------------------------------------
Leasing Association Conferences --- Spring 2006
Eastern Association of Equipment Lessors
March 26-29
Spring Conference
Hilton Marco Island Beach Resort
Marco Island, FL
To register and leasrn more about the conference:
http://www.eael.org/doc/SpringConference2006.pdf
www.eael.org
--------------------------------------------------------------------
National Association of Equipment Leasing Brokers
April 20-22
2006 Annual Conference
Hilton Minneapolis
Minneapolis, MN
www.naelb.org
EARLY BIRD Registration Deadline: March 15, 2006
HOTEL Registration Deadline: March 22, 2006
Register on line at:
http://www.naelb.org/cde.cfm?event=120803
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Equipment Leasing Association
April 23-25
Large Ticket Conference
Hyatt Regency Grand Cypress
Orlando, FL
www.elaonline.com
---------------------------------------------------------------------------
Association for Governmental Leasing & Finance
May 4-5
25th Annual Spring Conference
Omni Hotel Chicago
Chicago, Illinois
Room Rate $199.00
www.aglf.org
-----------------------------------------------------------------------------
At the conference, Leasing News will be presenting Paul Menzel, CLP, with the "Leasing News Person of the Year for 2005" award . Editor/Publisher Christopher "Kit" Menkin and many of the Leasing News Advisory Board will be on hand for the presentation; to salute Paul for the over 30 years he has contributed to the leasing profession.
"We hope to see you there."
Kit Menkin
United Association of Equipment Leasing
May 4-7
Spring Conference
Laguna Cliffs Mariott
Hotel and Spa
Dana Point, California
Register:
http://www.uael.org/events/conferences/slc/register.asp
or download form in PDF
http://www.uael.org/events/conferences/slc/RealFinalSpringApp.pdf
www.uael.org
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National Vehicle Leasing Association
June 7-10
Annual Conference and Exposition
Gaylord Texan Resort & Convention Center
Grapvince, Texas
www.nvla.org
----------------------------------------------------------------------------
Equipment Leasing Association
45th Annual Convention
October 22-24
JW Marriott Desert Springs Resort & Spa
Palm Desert, CA
www.elaonline.org
[headlines]
--------------------------------------------------------------
The "Sales Makes It Happen" column will continue to appear each Wednesday, but with a contributing writer. The first column is from Doug Houlahan at Allegiant Partners in San Rafael, California.
Sales Make it Happen
Transaction Profile
by Doug Houlahan
Recently a broker asked "How do I more effectively close Allegiant transactions?" We in turn deferred to one of our more successful brokers, Barbara Griffith from Southern California Leasing, for some insight into a transaction we closed last month.
This is the second transaction we've closed with this broker for a successful restaurateur opening his fourth location. After receiving his documents the lessee decided he was not going to pay these rates and so we worked together to lower his payment and close the transaction.
Below are the points Barbara shared with Allegiant that allow her to effectively close deals with Allegiant:
1. Allegiant's rates are inline with those of competitors in the structured transaction market. In other words, the broker feels that this is a fair proposition and is not afraid to make the point to the customer.
2. Allegiant will work with a broker to get a transaction done when pricing is an issue. Allegiant cut the rate and the broker cut the commission to sell this deal.
3. It is important to close, if at all possible. The broker ends up with a customer, a satisfied vendor and a funding source relationship. All these parties can be sources in developing more business.
4. Don't let your commission get in the way of developing a customer. This broker earned only 1.5% on the first transaction with another lessee. That customer has come back and done well in excess of $1M in business over an 8 year period. The client stopped being concerned about how much she was making after the first deal.
Look to your source not only for approving a transaction, getting the best rate or commission, but helping you keep the deal, making your customer happy, and obtaining repeat business.
Doug Houlahan
dhoulahan@allegiant-partners.com
Allegiant Partners
415-257-4200 x 205
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[headlines]
--------------------------------------------------------------
Leasing Issues Loom as House Reconvenes
ELTnews
The House of Representatives reconvened on January 31 for the second session of the 109th Congress joining the Senate which had reconvened on January 18. During this second session of the 109th Congress, a number of key issues affecting the corporate community in general and leasing industry in particular await congressional action.
Of specific concern is an upcoming joint House-Senate conference on the FY 2006 budget reconciliation measure which passed the Senate (S. 2020) and the House (H.R. 4297) last year. This measure calls for tax reductions in the range of $60 to $70 billion over 10 years. These tax reductions are largely the extension of various expiring tax provisions.
The Senate bill, unlike the House bill, also includes revenue offsets totaling $34 billion over 10 years including a series of revenue offsets which are of concern to the leasing industry. Specifically, the Senate bill includes the codification of economic substance doctrine as well as a change in the effective date of two leasing provisions enacted in the JOBS Act of 2004 (P.L. 108-357). The Senate bill would retroactively apply the loss disallowance rule under Section 470 to foreign leases entered into prior to March 12, 2004 and would repeal the transitional language for qualified transportation property under this Act.
The Equipment Leasing Association (ELA) will continue to oppose the statutory codification of the economic substance doctrine and work to prevent the enactment of leasing industry tax changes with retroactive effective dates during this conference.
Another major issue of interest to ELA and the leasing industry is the Administration's expected response to the recommendations of the President's Advisory Panel on Tax Reform which released its report on November 1, 2005. These recommendations have major implications for capital intensive industries and the leasing industry in particular.
The key question for the ELA and the equipment leasing and finance industry is whether a new system encourages the investment in productive assets and maintains the level playing field on the lease versus buy business decision.
ELA's key principles and policy goals which were outlined in its submission to the Commission in June of 2005 are to ensure the availability of leasing capital, ensure maximum flexibility of financing options for asset acquisitions and business expansion and ensure that the lessor remains in a similar position to an owner-operator of property for tax purposes.
ELA will continue to be actively engaged in this process in the coming year and intends to submit comments to the Treasury Department and the tax writing committees in the House and the Senate.
For further information please contact ELA's Vice President for Federal Government Relations at dfenig@elamail.com
[headlines]
--------------------------------------------------------------
Morgan Stanley Sells Aircraft Leasing Business
ELTnews
NEW YORK (AFX) -- After seeking a buyer for months, Morgan Stanley is selling its aircraft leasing business to European private-equity firm Terra Firma for $2.5 billion in cash, the companies said Monday.
Morgan Stanley , which had recorded a $1 billion charge last year in writing down the value of the unit, said it will reduce that amount by between $500 million and $550 million.
The revision will be included in the company's annual report to the Securities and Exchange Commission. The unit had revenue of $1.7 billion in the fourth quarter and $5.2 billion for 2005.
'AWAS is a strong business with superb management, but it does not fit our strategy,' said John Mack, Morgan Stanley's chief executive, in a statement.
The deal, subject to regulatory approval, is expected to close in the first half of 2006. Morgan Stanley recorded a $1 billion after-tax write-down of the unit's value in the third quarter of 2005.
Terra Firma, based in London, owns East Surrey Holdings, a major gas supplier in Northern Ireland, Waste Recycling Group and Odeon Cinemas. The deal is being funded by equity and debt provided by J.P. Morgan Chase & Co. .
Shares of Morgan Stanley rose 81 cents on Friday to close at $60.78.
[headlines]
---------------------------------------------------------------
### Press Release ###########################
NACM's CMI: Suggests a Reasonably Strong Economy,
But Worrisome Downward Trend
Columbia, MD:-January's Credit Manager's Index continues to suggest that the economy is reasonably strong, but it also shows a worrisome downward trend, advises Dan North, Chief Economist with credit insurer Euler Hermes ACI. While the Index now stands at 53.7, indicating modest economic growth, it is also down substantially from November's 57.4, and three of the Index's ten components are now below 50. The manufacturing sector has fallen for seven of the last nine months-six out of nine for services-and in January, seven of ten components fell in both the manufacturing and services sectors. This data reflects trends in some of the most recent macroeconomic data: weak fourth quarter GDP of 1.1 percent, a faltering housing market, and below expectations reports for both December job growth and from the Institute of Supply Management (ISM) Index. "Once again, high energy costs, rising interest rates, a flat yield curve, and a weakening housing market are the major drags on the economy," says North. "The consumer has been the offsetting factor, which has kept the economy growing and the CMI above 50, but consumers could hit a rough patch if their two sources of funding dry up-financing from home equity and credit cards, and incomes, which are falling below consumption. The overall picture suggests that business conditions could weaken in the spring, given the possibility of a consumer slowdown and the trends in the CMI."
The first month of the new year saw little change to the manufacturing sector. The CMI ended January 2006 just slightly below the December 2005 level, down 60 basis points, to end at 52.4 percent. A look at the favorable factors shows all levels above 50, reflecting some economic growth. Although there was negative growth in three of the four factors, positive growth was seen in new credit applications, which increased 680 basis points. The index of unfavorable factors fell 60 basis points to 52.4, down from 53 percent. Four of the six factors finished above 50, while disputes and amount of customer deductions finished somewhat below this mark.
The service sector ended January 200 points below year-end 2005. Much of the decline can be seen in the favorable factors-where there were lower levels of sales and amount of credit extended-down 780 and 650 points, respectively. At 54.9 percent, favorable factors recorded its lowest level in ten months. Overall, unfavorable factors dropped 80 points, to end at 51.7 percent. Lower levels of accounts placed for collections were offset by dollar amount beyond terms. Five of the six factors showed some economic growth, posting levels higher than the 50 percent mark.
The CMI, a monthly survey of the business economy from the standpoint of commercial credit and collections, was launched in January 2003 to provide financial analysts with another strong economic indicator.
The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies. A complete index including results from the manufacturing and service sectors, along with the methodology, is attached. A complete view of the index can be viewed online at
http://www.nacm.org/resource/press_release/pressJan06.html.
The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy. www.nacm.org.
[headlines]
### Press Release ###########################
State Bank of Long Island Announces Verdict in
HSA Residential Mortgage Services of Texas, Inc. Trial
(Parent of Studebaker-Worthington Leasing Corp. )
JERICHO, N.Y.-----State Bank of Long Island, (the "Bank") announced that the jury in its recent trial pertaining to the previously disclosed claim by HSA Residential Mortgage Services of Texas, Inc. ("RMST") rendered its verdict on January 30, 2006. The month-long trial resulted in a verdict of $44 million against the Bank. The Bank estimates that the total amount of this judgment may approach $74 million on a pre-tax basis; $44 million after taxes. Notwithstanding the foregoing judgment, the Bank's Tier I Leverage and Tier I Capital/Risk-Weighted Assets capital ratios will remain in excess of the requirements for it to be considered a "well capitalized" institution by its primary regulators.
State Bank of Long Island Chairman and CEO, Thomas F. Goldrick, said, "We are greatly disappointed with the outcome of this trial. We are prepared to continue this fight through the appeals process and are hopeful that we will achieve a positive outcome. This verdict will not affect our business operations or our proven strategy of measured, orderly growth. Our fundamental business plan is sound and remains unchanged. We are eager to move forward so that we can focus completely on the business of banking and continue to build on our long history of growth and profitability."
The litigation, as previously disclosed in State Bancorp Inc.'s Form 10K and 10Q filings with the Securities and Exchange Commission, arose in 2002 as a result of the Bank's deposit relationship with Island Mortgage Network, Inc., and its affiliates (IMN). Previous cases against the Bank related to IMN have been settled or dismissed.
State Bank of Long Island, the largest independent commercial bank headquartered in Nassau County, is the principal subsidiary of State Bancorp, Inc. (NASDAQ:STBC). In addition to its sixteen branch locations throughout Nassau, Suffolk and Queens Counties, the Bank owns Jericho, N.Y.-based Studebaker-Worthington Leasing Corp., a nationwide provider of business equipment leasing. The Bank also maintains a lending facility in Jericho and has two subsidiaries based in Wilmington, Delaware, which provide investment and balance sheet management services to the Bank. State Bancorp, Inc. (the "Company") has a consistent track record of measured, orderly growth, and has built a reputation for providing high-quality personal service to meet the needs of commercial, small business, municipal and consumer markets throughout the tri-county area. The Company maintains a World Wide Web site at www.statebankofli.com with corporate, investor and branch banking information.
State Bank of Long Island Deborah Kendric, 516-495-5050 dkendric@statebankofli.com
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News Briefs---
Fed Raises Rate as Its Chairman Bows Out
http://www.washingtonpost.com/wp-dyn/content/article/2006/01/31/AR2006013101004.html
Greenspan gets standing ovation and a baseball glove on final day
http://www.signonsandiego.com/news/business/20060131-1442-greenspanfarewell.html
Asset Profit taking picks up, but near-term outlook remains positive
http://www.absnet.net/include/showfreearticle.asp?file=/headlines/2.htm
Former Citigroup V.Chair Victor Menezes Settles Suit
http://www.usatoday.com/money/industries/banking/2006-01-31-citigroup-usat_x.htm
Wounded ABC Anchor and Cameraman Flown to U.S.
http://nytimes.com/2006/02/01/international/middleeast/01anchor.html
Consumer confidence increases to higher-than-expected level in January
http://www.signonsandiego.com/news/business/20060131-1402-economy.html
Savings Rate at 63-year low
http://www.nypost.com/business/62593.htm
http://www.boston.com/business/articles/2006/01/31/saving_takes_a_risky_turn/
Knight Ridder Says Earnings Tumbled 22%
http://www.nytimes.com/2006/02/01/business/media/01paper.html?pagewanted=all
Google's big profits don't impress analysts
http://www.siliconvalley.com/mld/siliconvalley/13759492.htm
Japanese customs storing over 2,000 tons of U.S. beef
http://www.usatoday.com/money/industries/food/2006-01-31-us-beef-japan_x.htm
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You May Have Missed
Plan to run cars on chardonnay
http://www.thecouriermail.news.com.au/common/story_page/0,5936,17952928%255E462,00.html
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Sports Briefs----
Source: Broncos, Owens meet
http://www.denverpost.com/broncos/ci_3459717
CIT Partners With New Jersey Devils and Newark Housing Authority to Finance New Sports Arena
http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=683178&TICK=CIT&STORY=
/www/story/01-31-2006/0004271830&EDATE=Jan+31,+2006
Tuesday's College Basketball
http://www.nytimes.com/aponline/sports/AP-Tue-BKC-Scores.html
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California News Briefs---
Jobs go begging, farmers say in California
http://www.sacbee.com/content/business/agriculture/story/14132707p-14961616c.html
[headlines]
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"Gimme that Wine"
An Australian Sibling Comes Into Its Own-Eric Asimov
http://www.nytimes.com/2006/02/01/dining/01pour.html?pagewanted=all
The big gulp
Will consumers be able to swallow consolidation?
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/01/26/WIGOSGPRO11.DTL
U.S. wine consumption keeps going up
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/01/19/WIGJGGOS9V1.DTL
www.winezap.com
http://www.wine-searcher.com/
If you want to know if you got a value for your wine, or what the wine price is today, go to www.winezap.com Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1999 Viader
[headlines]
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Calendar Events This Day
Freedom Day
Robinson Caruso Day
Anniversary of the rescue of Alexander Selkirk, a Scottish sailer who had been put ashore in September 1704 on the uninhabited isaldn Juan Fernandez, at his own request, after a quarrel with his capitain. His adventures formed the basis for Daniel Defoe's book, Robinson Crusoe. A day to be adventurous and self-reliant.
Woman's Heart Health Day
As American Heaart Month begins, here is a day to promote awareness that heart disease is the number one killer of American Women. www.libov.com
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Today's Top Event in History
1865- President Abraham Lincoln's signed into law the 13th Amendment to the US Constitution (abolishing slavery): "1. Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States or any place subject to their jurisdiction. 2. Congress shall have power to enforce this article by appropriate legislation." The amendment had been proposed by the Congress Jan 31, 1865; ratification was completed Dec 6, 1865.
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This Day in American History
1790- The Supreme Court of the United States met for the first time in New York City with Chief Justice John Jay presiding.
1859-Considered one of America's greatest composers, Victor Herbert, was born in Dublin, Ireland.
http://memory.loc.gov/ammem/today/feb01.html
1860-The first Rabbi to open the House of Representatives with prayer was Rabbi Morris Jacob Raphall, rabbi of Congregation B'nai Jeshurn, New York City, who delivered the invocation at the first session of the 36 th congress.
1860-Decree from Norton I, Emperor of the United States & Protector of Mexico, orders representatives of the different states to assemble at Platt's Music Hall in Frisco to change laws to ameliorate the evils under which the country is laboring.
http://www.sfmuseum.org/hist1/norton.html
http://www.zpub.com/sf/history/nort.html
1861 - Texas seceded from the Union and joined the Confederate States of America.
1862 - Battle Hymn of the Republic, written by Julia Ward Howe, was first published in the Atlantic Monthly. The song's music was inspired by the song "John Brown's Body." Howe just wrote new words for the existing music.
1865- President Abraham Lincoln's signed into law the 13th Amendment to the US Constitution (abolishing slavery): "1. Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States or any place subject to their jurisdiction. 2. Congress shall have power to enforce this article by appropriate legislation." The amendment had been proposed by the Congress Jan 31, 1865; ratification was completed Dec 6, 1865.
1865-The first lawyer admitted to practice before the Supreme Court who was African-American was John S. Rock,. His admittance was moved by Senator Charles Sumner of Massachusetts. Chief Justice Salmon Portland Chase presided. It would be the last triumphant act in a life overflowing with achievement, for Rock died suddenly on December 3, 1866. He was interred at the Twelfth Baptist Church and buried with full Masonic honors at Woodlawn Cemetery in Everett, MA.
http://www.nps.gov/boaf/johnsrock.htm
http://www.state.nj.us/state/history/rock.html
1878- Hattie Wyatt Caraway, born at Bakersville, TN, Hattie Caraway became a US senator from Arkansas when her husband died in 1931 and she was appointed to fill out his term. The following year she ran for the seat herself and became the first woman elected to the US Senate. She served 14 years there, becoming an adept and tireless legislator (once introducing 43 bills on the same day) who worked for women's rights (once cosponsoring an equal rights amendment), supported New Deal policies as well as Prohibition and opposed the increasing influence of lobbyists. Caraway died at Falls Church, VA, Dec 21, 1950.
1893- The first moving picture studio was built at Thomas Edison's laboratory compound at West Orange, NJ, at a cost of less than $700. The wooden structure of irregular oblong shape was covered with black tar paper. It had a sharply sloping roof hinged at one edge so that half of it could be raised to admit sunlight. Fifty feet in length, it was mounted on a pivot enabling it to be swung around to follow the changing position of the sun. There was a stage draped in black at one end of the room. Though the structure was officially called a Kinetographic Theater, it was nicknamed the "Black Maria" because it resembled an old-fashioned police wagon.
1894-Birthday of rag time pianist/composer James P. Johnson
http://blackhistory.eb.com/micro/727/42.html
http://www.jazzradio.org/jpjohnsn.htm
http://www.jass.com/jamesp.html
1895--Film director John Ford was born at Cape Elizabeth, ME, as Sean Aloysius O'Feeney; he changed his name after moving to Hollywood. Ford won his first Academy Award in 1935 for The Informer . Among his many other films: Stagecoach, Young Mr. Lincoln, The Grapes of Wrath, How Green Was My Valley, Rio Grande, What Price Glory? and Mister Roberts . During World War II he served as chief of the Field Photographic Branch of the OSS. Two documentaries made during the war earned him Academy Awards. He died Aug 31, 1973, at Palm Desert, CA.
1898- Travelers Insurance Company issued the first car insurance against accidents with horses.
1901- actor Clark Gable birthday. His first film was The Painted Desert in 1931, when talking films were replacing silent films. He won an Academy Award for his role in the comedy It Happened One Night , which established him as a romantic screen idol. Other films included China Seas, Mutiny on the Bounty, Saratoga, Run Silent Run Deep and Gone with the Wind , for which his casting as Rhett Butler seemed a foregone conclusion due to his popularity as the acknowledged "King of Movies." Gable was born at Cadiz, OH, and died Nov 16, 1960, at Hollywood, CA, shortly after completing his last film, Arthur Miller's The Misfits , in which he starred with Marilyn Monroe.
1902- birthday of Langston Hughes. African American poet and author, born at Joplin, MO. Among his works are the poetry collection Montage of a Dream Deferred , plays, a novel and short stories. Hughes died May 22, 1967 at New York, NY.
What happens to a dream deferred?
Does it dry up
like a raisin in the sun?
Or fester like a sore--
and then run?
Does it stink like rotten meat?
Or crust and sugar over-
like a syrupy sweet?
Maybe it just sags
like a heavy load
Or does it just explode?
- Langston Hughes, "Dream Deferred"
( lower part of http://memory.loc.gov/ammem/today/feb01.html )
1906-- 1st federal penitentiary building completed, Leavenworth KS. The penitentiary is the largest maximum-security prison in the United States, housing more than 2,200 inmates. Famous inmates over the years included Al Capone, Machine Gun Kelly, and Robert Stroud - the famous "Birdman of Alcatraz." Actually, Stroud's bird work began at Leavenworth, where he served 28 years before being transferred to Alcatraz. The Immanuel Church, located on the grounds, was made famous in Ripley's Believe it or Not as the only church in which Protestant and Catholic services were conducted simultaneously.
http://www.lvarea.com/data/usp_info.htm
http://www.lvarea.com/data/usp_info.htm#USP%20Background%20Information
http://www.leavenworthdirectory.com/leavenworth.htm
1911- Thomas Jennings was found guilty and sentenced to death for the murder of Clarence B. Hiller in the Criminal Court of Cook County, Illinois. He was convicted because of his fingerprints and is the first to be found guilty. The Illinois Supreme Court rule that fingerprints were admissible evidence.
Hiller was hanged for his crime.
1919 - The first Miss America was crowned in New York City. The winner, Edith Hyde was found by the judges not to be a Miss. She was a "Mrs." named Mrs. Tod Robbins, the mother of two children.
1920 - The North West Mounted Police ("The Mounties") became the Royal Canadian Mounted Police.
1922-Birthday of 1922, Renata Tebaldi - Italian operatic soprano whose rich, sumptuous voice made her the operatic star at the Metropolitan Opera, Covent Garden, and LaScala in the 1950s and 60s. She was known for her acting ability. In 1946, along with Arturo Toscanini, RT performed at the reopening concert of La Scala, which had been closed during World War II. Her great roles included Giacomo Puccini's Mimi ( La Boh è me ) and Tosca , Giuseppe Verdi's Desdemona ( Otello ) and Aida , and Umberto Giordano's Madeleine ( Andrea Ch é nier ).
1934- Bob Shane of the Kingston Trio was born in Hilo, Hawaii. The trio was credited with starting the folk craze of the late 1950's and early '60s with their hit recording of "Tom Dooley" in 1958. The Kingston Trio had a clean-cut collegiate image which helped them win acceptance among the trendy college crowd. The trio broke up in 1968.
1935 -- James T. Farrell finishes his Studs Lonigan trilogy ( Judgment Day ).
1937- Don Everly of the Everly Brothers was born in Brownie, Kentucky. The brothers were one of the most important acts of early rock 'n' roll. Their music, a mixture of close country harmonies over a rocking beat, resulted in two dozen chart entries, including such number-one records as "Wake Up Little Susie," "All I Have to Do Is Dream" and "Cathy's Clown." The brothers broke up in 1973, reunited in 1983 and again in 1985. They were last seen touring with Garfunkle and Simon, who re-united, and confessed on stage, before the introduction, when they started, they were trying to sound like their idols, the Everly Brothers.
1939 - On Victor Records, Benny Goodman and his orchestra recorded "And the Angels Sing". The vocalist for that song went on to find fame at Capitol Records, Martha Tilton.
1940 - For his first recording session, held in Chicago, Illinois, with the Tommy Dorsey Band, Frank Sinatra sang "Too Romantic" and "The Sky Fell Down". Sinatra replaced Jack Leonard as the band's lead singer.
1941 - "Downbeat" magazine reported Glenn Miller had signed a new three-year contract with RCA Victor Records, guaranteeing him $750 a side, the largest record contract signed to that date.
1944---Top Hits
My Heart Tells Me - The Glen Gray Orchestra (vocal: Eugenie Baird)
Shoo, Shoo, Baby - The Andrews Sisters
Besame Mucho - The Jimmy Dorsey Orchestra (vocal: Bob Eberly & Kitty Kallen
Pistol Packin' Mama - Al Dexter
1945-- US Army arrives at Siegfriedlinie, a major defense of the Nazi regime.
http://mohaa.com/forum/viewtopic.ph http://copernicus.subdomain.de/Siegfried_Line p?p=117338&sid=d4b2df326cdcad65d492d560b41a5cc6
1949 - Louis B. Mayer, of Metro Goldwin Mayer (MGM), became a millionaire all over again when he sold his racehorse breeding farm for one-million dollars.
1949 - 1949, RCA Victor introduced the 45 rpm record. It was designed as a rival to Columbia's 33 1/3 rpm long- playing disc, introduced the previous year. The two systems directly competed with each other to replace 78 rpm records, bewildering consumers and causing a drop in record sales.
By the end of 1949, all the major companies, except RCA, had committed themselves to the LP record, seemingly putting an end to the 45. Even RCA itself announced it would issue its classical library on 33 1/3 rpm discs. But RCA was not ready to admit the demise of the 45 rpm record. The company spent $5-million publicizing 45 rpm as the preferred speed for popular music. The campaign worked. Buyers of non-classical records turned increasingly to the 45 rpm record, so that by 1954, more than 200-million of them had been sold. And all the major companies now were producing both 33 1/3 and 45 rpm records.
1951 -50ºF (-46ºC), Gavilan NM (state record)
1951 - The greatest ice storm of record in the U.S. produced glaze up to four inches thick from Texas to Pennsylvania causing twenty-five deaths, 500 serious injuries, and 100 million dollars damage. Tennessee was hardest hit by the storm. Communications and utilities were interrupted for a week to ten days.
1952---Top Hits
Slowpoke - Pee Wee King
Cry - Johnnie Ray
Anytime - Eddie Fisher
Give Me More, More, More (Of Your Kisses) - Lefty Frizzell
1953 - "Private Secretary" debuted on CBS-TV starring Ann Southern as Susie McNamera, the private secretary to New York talent agent, Peter Sands played by Don Porter. With its last show airing on September 10, 1957, the show ran on CBS during the regular television seasons and ran on NBC-TV in the summers of 1953 and 1954.
1953- "Your Are There" premiered on Television. The program began as an inventive radio show in 1947. News correspondents would comb the annals of history and "interview" the movers and shakers of times past. Walter Cronkite hosted the series on CBS for four seasons. The show's concept was revived for a season in 1971 with Cronkite gearing the program toward children.
1951 - The temperature at Taylor Park Dam plunged to 60 degrees below zero, a record for the state of Colorado
1953- General Electric Theater premiered on TV. CBS's half-hour dramatic anthology series was hosted by Ronald Reagan (in between his movie and political careers). Making their television debuts were Joseph Cotten (1954); Fred MacMurray, James Stewart and Myrna Loy (1955); Bette Davis, Anne Baxter, Tony Curtis and Fred Astaire (1957); Sammy Davis, Jr (1958); and Gene Tierney (1960). Other memorable stars who appeared on the series include: Joan Crawford, Harry Belafonte, Rosalind Russell, Ernie Kovacs, the Marx Brothers and Nancy Davis Reagan, who starred with her husband in the premonitory episode titled "A Turkey for the President" (1958).
1954 - On CBS-TV, "The Secret Storm" was shown for the first day of a 20-year run.
1955--Elvis Presley records, "Baby, Let's Play House"
1956 -- Martin Luther King, Jr.'s Montgomery Improvement Association files suit in federal court against Alabama for segregation of buses.
1957--Birthday of Donna Adamek, known as "Mighty Mite", DA dominated women's professional bowling from 1978 through 1981.
She was Woman Bowler of the Year each year and, in that four-year period, she won the Women's Open in 1978 and 1981, the WIBC Queens in 1979 and 1980, and the WPBA National Championship in 1980. Adamek led the WPBA tour in winnings for three consecutive years, 1978 through 1980.
During the 1981-82 season, DA rolled three perfect 300 games. {{The compiler of WOAH whose highest average was 194 (287 game) remembers when ONE 300 GAME was memorable before the change in bowling ball construction and the way bowling lanes are dressed
1958-- Elvis Presley records: "My Wish Came True," "Doncha' Think It's Time," "Your Cheatin' Heart," "Wear My Ring Around Your Neck."
1960- Greensboro Sit-In. Commercial discrimination against blacks and other minorities provoked a nonviolent protest. At Greensboro, NC, four students from the Agricultural and Technical College (Ezell Blair, Jr, Franklin McCain, Joseph McNeill and David Richmond) sat down at a Woolworth's store lunch counter and ordered coffee. Refused service, they remained all day. The following days similar sit-ins took place at the Woolworth's' lunch counter. Before the week was over they were joined by a few white students. The protest spread rapidly, especially in southern states. More than 1,600 people were arrested before the year was over for participating in sit-ins. Civil rights for all became a cause for thousands of students and activists. In response, equal accommodation regardless of race became the rule at lunch counters, hotels and business establishments in thousands of places.
http://www.greensboro.com/sitins/media_headlines.htm
1960---Top Hits
Running Bear - Johnny Preston
Teen Angel - Mark Dinning
Where or When - Dion & The Belmonts
El Paso - Marty Robbins
1962 -- US: Ken Kesey's One Flew Over Cuckoo's Nest is published.
http://wild-bohemian.com/kesey.htm
1963-- Paul Simon graduates from New York City's Queens College.
1964- "I Want to Hold Your Hand" by the Beatles reached number one on the Billboard Hot 100 chart. It stayed there for seven weeks.
1964- The Beatles' "Please Please Me" enters the pop charts
1964-The governor of Indiana declared "Louie, Louie" pornographic. The song was about seven years old when the Kingsmen recorded their version in 1963, and the fantastic legend that grew up in its wake--a legend that even an FCC investigation couldn't kill--seems to have sprung solely from their extraordinary lack of elocution. Berry, who spoke on the subject a while back to a Los Angeles interviewer named Bill Reed, explains the song as the lament of a seafaring man, spoken to a sympathetic bartender named Louie. Here, without further ado, are the "official" published lyrics:
"Louie Louie, me gotta go. Louie Louie, me gotta go. A fine little girl, she wait for me. Me catch the ship across the sea. I sailed the ship all alone. I never think I'll make it home. Louie Louie, me gotta go . Three nights and days we sailed the sea. Me think of girl constantly. On the ship, I dream she there. I smell the rose in her hair. Louie Louie, me gotta go. Me see Jamaican moon above. It won't be long me see me love. Me take her in my arms and then I tell her I never leave again. Louie Louie, me gotta go." (By Richard Berry. Copyright 1957-1963 by Limax Music Inc.)
1966-The first Navy captain who was African-American was Thomas David Parham, Jr., of Newport News, VA, a Presbyterian chaplain, whose rank was raised from commander to captain.
1966-Bill Graham resigns as business manager of the San Francisco Mime Troupe in order to devote himself full-time to the business of acid rock concert promotion, initially at the Fillmore Auditorium.
1966--Birthday of soccer great Michelle Akers.
1967- the American Basketball Association (ABA) was born with 10 teams and George Mikan as commissioner in hits first season. The ABA lasted nine years before four teams, the Denver Nuggets, the Indiana Pacers, the New Jersey Nets and the San Antonio Spurs, were absorbed into the NBA.
1967-- The Beatles record "Sgt. Pepper's Lonely Hearts Club Band"
1968---Top Hits
Judy in Disguise (With Glasses) - John Fred & His Playboy Band
Chain of Fools - Aretha Franklin
Green Tambourine - The Lemon Pipers
Sing Me Back Home - Merle Haggard
1968- Green Bay Packers head coach Vince Lombardi resigned after nine seasons, five NFL titles and victories in the first two Super Bowls. Oddly enough, Green Bay's founding coach, Curly Lambeau, resigned on the same day in 1950 after 29 years on the job.
1968- Elvis Presley's only child, Lisa Marie, was born. Elvis and his wife, Priscilla, were married in Las Vegas the previous May. They were divorced in 1973.
1968 -The Jimi Hendrix ExperienceJohn Mayall and the Bluesbreakers, at the Fillmore Auditorium.
1969- Tommy Roe's "Dizzy" enters the pop charts
1969- Tommy James & the Shondells' "Crimson and Clover" hits #1.
1970-Timothy Leary sentenced to 10 years for Texas/Mex marijuana bust.
1971- The Love Story soundtrack album is certified gold.
1974- "Good Times" premiered on TV. A CBS spin-off from "Maude," which was a spin-off of "All in the Family." "Good Times" featured an African American family living in the housing projects of Chicago. The series portrayed the Evans family's struggles to improve their lot. The cast featured Esther Rolle and John Amos as Florida and James Evans, Jimmie Walker as son J.J., Bernadette Stanis as daughter Thelma, Ralph Carter as son Michael, Johnny Brown as janitor Mr. Bookman, Ja'Net DuBois as neighbor Willona Woods, Janet Jackson as Willona's adopted daughter Penny and Ben Powers as Thelma's husband, Keith Anderson.
1975- Neil Sedaka's "Laughter in the Rain" hits #1.
1976---Top Hits
Love Rollercoaster - Ohio Players
Love to Love You Baby - Donna Summer
You Sexy Thing - Hot Chocolate
This Time I've Hurt Her More Than She Loves Me - Conway Twitty
1978- the first postage stamp depicting an African-American woman was issued. It showed the likeness of Harriet Tubman, the escaped slave and abolitionist who led more than 300 slaves to freedom along the Underground Railroad.
1978- Bob Dylan's film "Renaldo and Clara," a documentary of the Rolling Thunder Revue tour mixed with surrealistic fantasy sequences, premieres in Los Angeles.
1979-Patty Hearst released from jail.
1982- "Late Night with David Letterman premiered.." This is when it all began: the stupid pet tricks, stupid human tricks and the legendary top ten lists. "Late Night" premiered on NBC as a talk/variety show appearing after "The Tonight Show with Johnny Carson." Host David Letterman was known for his irreverent sense of humor and daffy antics. The offbeat show attained cult status among college crowds and insomniacs, as many tuned in to see a Velcro-suited Letterman throw himself against a wall. The show also featured bandleader-sidekick Paul Shaffer, writer Chris Elliott and Calvert DeForest as geezer Larry "Bud" Melman. In 1993, Letterman made a highly publicized exit from NBC and began hosting "The Late Show" on CBS.
http://movies.yahoo.com/shop?d=hc&id=1800122204&cf=biog&intl=us
http://199.173.162.18/lateshow/topten/archive/
1984---Top Hits
Owner of a Lonely Heart - Yes
Karma Chameleon - Culture Club
Talking in Your Sleep - The Romantics
The Sound of Goodbye - Crystal Gayle
1985 -69ºF (-56ºC), Peter's Sink UT (state record)
1985 - Snow, sleet and ice glazed southern Tennessee and northern sections of Louisiana, Mississippi and Alabama. The winter storm produced up to eleven inches of sleet and ice in Lauderdale County AL, one of the worst storms of record for the state. All streets in Florence AL were closed for the first time of record
1987 - Terry Williams from Los Gatos, California, won the largest slot machine payoff, to that time, pocketing $4.9 million after getting four lucky 7s on a machine in Reno, Nevada.
1988 - Thirty cities in the eastern U.S. reported new record high temperatures for the date, including Richmond VA with a reading of 73 degrees. Thunderstorms in southern Louisiana deluged Basile with 12.34 inches of rain. Arctic cold gripped the north central U.S. Wolf Point MT reported a low of 32 degrees below zero
1989 - While arctic cold continued to invade the central U.S., fifty- four cities in the south central and eastern U.S. reported new record high temperatures for the date. Russell KS, the hot spot in the nation with a high of 84 degrees the previous day, reported a morning low of 12 above. Tioga ND reported a wind chill reading of 90 degrees below zero
1989- a Spokane, Washington, funeral director revealed that jazz saxophonist and pianist Billy Tipton, who had lived his life as a man, was a woman. Tipton played for years in the US northwest after a career with several big bands. He appeared to have a wife and adopted three sons.
1990---Top Hits
How Am I Supposed To Live Without You- Michael Bolton
Opposites Attract- Paula Abdul (Duet With The Wild Pair)
Downtown Train- Rod Stewart
Two To Make It Right- Seduction
1992 - United States President George Bush and Russian President Boris Yeltsin signed the Camp David declaration which states t hat their two countries no longer regard each other as adversaries
1992--Barry Bonds signs baseball's highest single year contract ($4.7 million)
1993- On Lisa Marie's 25th birthday, it was announced that she wouldn't be taking over her father's estate as provided in his will. Lisa Marie left management of Graceland and other parts of Elvis's multimillion-dollar estate to Jack Soden, head of Elvis Presley Enterprises.
1993-- First Lady Hillary Rodham Clinton is given an office in the West Wing of the White House and named January 25 to head a commission charged with creating a health plan for the nation. It is the most influential position a president's wife has ever had. she bans smoking in the White House February 1. Will she return in the next presidential election?
1995---Top Hits
Creep- TLC
On Bended Knee- Boyz II Men
Another Night- Real McCoy
Take A Bow- Madonna
2000---Top Hits
I Knew I Loved You- Savage Garden
What A Girl Wants- Christina Aguilera
Smooth- Santana Featuring Rob Thomas
Back At One- Brian McKnigh
2003- After a successful 16 day mission, the space shuttle Columbia, with a crew of seven, perished during entry. Kalpana Chawla, 41, emigrated to United States from India in 1980s and became an astronaut in 1994, was one of seven astronauts who died in an explosion that streaked across the Texas sky on a clear, beautiful morning .Laurel Clark, 41, a Navy diving medical officer aboard submarines, then flight surgeon who became an astronaut in 1996. On board Columbia to help with science experiments. Had 8-year-old son. Her home was in Racine, Wis. Commander Rick Husband, 45, Air Force colonel; Pilot William McCool, 41;.Payload commander Michael Anderson, 43; David Brown, 46, a Navy captain, pilot and doctor;Ilan Ramon, 48, a colonel in Israel's air force and the first Israeli in space.
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Coach Bear Bryant's Poem
This is the beginning of a new day.
God has given me this day to use as I will.
I can waste it or use it for good.
What I do today is important as I am
exchanging a day of my life for it.
When tomorrow comes, this day will be gone forever.
Leaving something in its place I have traded for it.
I want it to be a gain, not loss--good, not evil.
Success, not failure, in order that I shall not forget
the price I paid for it.
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