Dext Celebrates One Year Anniversary
Happy New Year to All

 
We know healthcare.

We are direct lenders.
We make common sense decisions.
We have competitive pricing without the bank bureaucracy.

Dext Capital, Lake Oswego, Oregon, celebrates its first year. It actually organized in October of 2018, beginning operations in January, 2019, now with 27 full time employees, including 11 direct sales staff.  Most of the business is direct, with some manufacturers, banks, and brokers with larger deals.  They report having over 250 clients, over 30 key vendors and sources, completing nearly $100 million their first year.

Kyin Lok, Chief Executive Officer, lived in Oregon and decided to come back and form this "dexterous" company. Actually, Dext in Latin means the "the right side."  He attracted top industry veterans to lead the business. Sponsored by Sightway Capital, a Two Sigma company, www.twosigma.com, in October 2019, the company closed a $200 million credit facility with Credit Suisse.

"I proudly reflect on what our team has achieved in our first year," Kyin Lok told Leasing News. “Our accomplishments have gone above and beyond our initial plans and our achievements have strengthened our product offerings and overall support for our clients and partners, as well as our employees."

In addition to opening the company in Oregon last year, Dext also opened a second office in Iowa "...to better serve customers and partners nationally."

Dext Leadership Team
http://www.dextcapital.com/#our-team

 

[headlines]
--------------------------------------------------------------

 

Half of U.S. workers did not receive a raise over the last 12 months, according to a new survey conducted by Bankrate, which polled 1,000 people from November 25 to December 1. Of the people polled, 28 percent saw an increase in their wages.

The finding comes as the U.S. economy continues to do well. There hasn’t been a recession in a decade, which is a first in American history, CNBC reported December 19. For 126 consecutive months the U.S. economy grew, according to National Bureau of Economic Research. Part of the reason the economy has been doing well is because it was coming off a low period, the Great Recession, which occurred in the early 2000s, the publication noted.

By Maria Vultaggio, Statista

https://www.statista.com/chart/20353/us-workers-raise-employment/

New Hires/Promotions in the Leasing Business
and Related Industries

 

Roberto Cortese was promoted to COO, Travelers Finance Group, Burnaby, British Columbia, Canada.  He joined the firm December, 2004 as Chief Operating Officer; promoted May, 2014 Chief Executive Officer.  Previously, he was Vice President and GM, De Lage Landen (1999 - 2005). https://www.linkedin.com/in/roberto-cortese-27034412/

Danielle Delaney was hired as Sales Executive, Zena Financial Services, Chula Vista, California. Previously, she was Sales Executive, Triton Technologies (April, 2019 - October, 2019); Account Executive, Next Leads, LLC (September, 2017 - November, 2019); Account Coordinator, NextGen Leads (July, 2015 - May, 2017); Title Escrow Assistant, Fidelity National Title (October, 2012 - November, 2013); Client Care Director and Short Sale Negotiator, Bernadette & Belland (January, 2010 - December, 2010); Real Estate Agent, Prudential Nevada Realty (January, 2005 - January, 2009). https://www.linkedin.com/in/danielle-delaney/

Edward Dietz was hired as Executive Vice President, General Counsel and Chief Compliance Officer, CAN Capital, Kennesaw, Georgia.  Previously, he was at marlin Business Services Corporation, starting July, 2010, as Assistant General Counsel; promoted May, 2011 as Vice President and General Counsel; promoted November, 2013 Senior Vice President, General Counsel, Chief Compliance Officer and Chief InfoSec Officer.  Associate, Morgan, Lewis & Bockius, LLP (April, 2008 - July, 2010); Associate, Foley and Lardner (September, 2004 - April, 2008). Education: University of Michigan Law School, J.D. (2001 - 2004). Activities and Societies: Legal Assistance for Urban Communities Clinic. Gettysburg College, B.A., Political Science (1993 - 1997). Washington Township High School (1989 - 1993) https://www.linkedin.com/in/edward-dietz-1828112/

Gary Hanson was hired as Vice President, Sales, Lease Corporation of America, Troy, Michigan.  He is located in Oakland, Michigan.  Previously, he was Senior Vice President and Managing Director, Sterling National Bank (March, 2019 - December, 2019); Senior Vice President, WNB Specialty Finance (acquired by Sterling Bank 3/1/2019) (August, 2017 - March, 2019); Vice President, Huntington Equipment Finance (f.k.a. First Merit Equipment Finance) (February, 2012 - August, 2017); Vice President, PNC Equipment Finance (March, 2004 - February, 2013); VP, Business Development, Hitachi Capital America (2000 - March, 2004); Director, Business Development, Mellon, US Leasing (1999 - 2000); Sr. Account Manager, Verizon Credit (f.k.a GTE Leasing ) 1994 - October, 1996); RSM, Wells Fargo Financial (f.k.a Norwest Financial) (1988 -1994); Vice President, Operations, United Community Bank Leasing (1975 - 1988). Volunteer, Kennel Care Assistant, Leader Dogs for the Blind (January, 2012 - March, 2019). Pawsitive Start Volunteer, Michigan Humane Society (February, 2012 - December, 2016); Adoption Screening Representative, National Great Pyrenees Rescue (May, 2015 - Presdent0.  Education: California Lutheran University. B.S., Business Administration (1978 - 1983). https://www.linkedin.com/in/gary-hanson-71ba316/

Yvan Richard was promoted to Vice President, Clearwater Leasing, Ltd, Winnipeg, Canada. He joined the firm March, 2015, as Territory Manager. Previously, he was District Finance Manager, Volvo Financial Services (October, 2014 - March 2016); Sales Representative, Mercado Capital Corporation (February, 2011 - October, 2014).  Education: Minot State University. Bachelor of Business Administration (BBA). (1996 - 1998).  Activities and Societies: Member of the Minot State University Hockey Team. https://www.linkedin.com/in/yvan-richard-2107a144/

Tom Tocco promoted to Director of Federal Sales, Dell Financial Services, Round Rock, Texas. He is located in Northville, Michigan. He joined the firm 2008 as Global Account Manager; promoted, March, 2014, Sales Director, Large Enterprises.  Previously, he was at GE, Healthcare Finance Services, starting Jun, 2006 as Program Account Manager; promoted, Territory Account Manager; Regional Sales Manager, Huntington National Bank (2004 - 2006); Global Account Manager, Dell Financial Services (2000 - 2004); Vice President, National Accounts, Ervin Leasing (1998 - 2001); Vice President of Business Development, AT&T Capital (1993 - 1998). Education: La Salle University, BBA, Management (1997 – 1999). Activities and Societies: Graduated Cum Laude with a 3.81 GPA. Chaney High School - Comstock High School, Activities and Societies: VP of Class, Football, Baseball, Track. www.linkedin.com/in/tomtocco

Daniel Vilchis was hired as Account Executive, Regents Capital Corporation, Costa Mesa, California.  He remains Music Professional Nostalgic, Freelance (March 2019 - Present). Previously, he was Financial Representative, Northwestern Mutual, Internship (June 2017 - December, 2018). Languages: English. Spanish. Organizations: Sigma Alpha Epsilon Fraternity. American Marketing Association.  Licenses and Certifications. Annuity License. Life, Health, and Accident Insurance License. Long-Term Care Insurance License. Volunteer: Audio Engineer, Newport Mesa Christian Church (August, 2019 - Present). https://www.linkedin.com/in/daniel-vilchis/

 

[headlines]
--------------------------------------------------------------

Help Wanted

 

 

 

 

[headlines]
--------------------------------------------------------------

January 2020

Sales Makes it Happen by Scott Wheeler, CLFP

Wow! A new decade has begun in the commercial equipment leasing and finance industry. Just imagine what the next decade will bring and how professionals will thrive.

In January 2010 no one could have predicted the last ten years:

• The great recovery
• Plenty of capital to fund transactions
• Tremendous growth
• The substantial reduction in size of GE Credit
• Historical low delinquencies
• Plenty of new entries into the market
• Technological advancements
• The decade ending on a high note for most all participants

Equally as unpredictable, the next decade will most likely present new challenges and opportunities for the industry. My nearly four decades of service in the industry allows me to share some factors that will most likely remain the same over the next decade:

• The commercial equipment leasing and finance industry will remain highly competitive.
• Organizations that cut corners, price their products too low, and assume too much risk will be eliminated.
• The industry will continue to innovate and offer flexibility to commercial clients seeking cash flow benefits.
• Sales professionals will continue to claim that their transactions deserve immediate attention.
• Credit professionals will disagree.
• The industry will embrace change and technology will advance the industry beyond our wildest expectations.
• The industry will continue to help small, medium, and large businesses to grow and prosper.
• Professionals who are willing to embrace every aspect of the finance and leasing industry will emerge as leaders.
• Professionals who are willing to give 110% every day will be rewarded with above average incomes and build meaningful careers.

WELCOME TO 2020!

Wheeler Business Consulting works with management teams to further develop their human capital, to identify and strengthen weak links within the organization, and to improve overall efficiencies. Wheeler Business Consulting works with banks, independents, captives, origination companies, and investors in the equipment leasing and finance arena. We provide training, strategic planning, and acquisition services. Scott Wheeler is available to discuss your long-term strategy, to assist your staff to maximize outcomes, and to better position your organization in the market.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com 

Sales Makes it Happen articles:
http://www.leasingnews.org/Legacy/index.html

US Economic Growth predicted to slow to 1.7 percent in 2020
Pacific Capital Advisors

Experts reveal 2020 Economic Outlook forecasts of 1.1%+ equipment
and software investment, 1.7% GDP growth

According to experts, investment in equipment and software will expand by 1.1 percent in 2020 despite the U.S. economic growth slowing to 1.7 percent. This is coming from the 2020 Equipment Leasing & Finance U.S. Economic Outlook released by the Equipment Leasing & Finance Foundation.
The report also indicates that the U.S. economy is poised to soften further in 2020 after a not too favorable 2019. The report further revealed that equipment and software investment will likely post its weakest year of growth since 2016.

Scott Thacker, Foundation Chair and CEO of Ivory Consulting Corporation, said, “After robust growth in 2018, equipment and software investment slowed markedly throughout 2019 and contracted in the third quarter as the effects of unresolved trade tensions and a slowing global economy took hold.”

“I believe a strong labor market and still-confident U.S. consumer base should keep the broader economy above water, even as investment in several key equipment verticals slows or remains weak,” Scott added.

Another highlight of the study is the possibility of political uncertainty, tariffs, and a slowdown in growth in several key trading partners, which should lead to another year of decelerating economic growth in 2020. The study also revealed that demand for credit—especially by businesses—has weakened notably, and this may lead to a further slowdown in business investment in 2020.

The report also highlighted the fact that the Federal Reserve cut its benchmark policy rate three times in the second half of 2019 in an attempt to insulate the U.S. economy from the effects of trade headwinds, industrial sector weakness, and a global economic slowdown. Based on Fed’s willingness to cut rates in the face of economic weakness and the expectation of weaker macroeconomic fundamentals, experts predicted that Fed will cut the federal funds rate at least twice in the coming year.

[headlines]
--------------------------------------------------------------

Growth and Decline: Visualizing U.S. Population
Which Counties are Growing the Fastest?

America’s economy has grown for over a decade, but that growth increasingly concentrates in 1% of the nation’s counties.

click image to view larger

 

Full Story:
https://www.visualcapitalist.com/u-s-population-change-by-county-2010-2018/

[headlines]
--------------------------------------------------------------

##### Press Release ############################

CIT Completes Acquisition of Mutual of Omaha Bank
Advances Strategic Plan

Advances strategic plan to enhance funding profile, expand middle market banking capabilities
and create shareholder value

NEW YORK -- CIT Group Inc. (NYSE: CIT)  announced that its banking subsidiary, CIT Bank, N.A., completed the acquisition of Mutual of Omaha Bank on Jan. 1, 2020. This transaction advances CIT's strategic plan through the addition of a stable, lower-cost homeowner association deposit channel from the market-leading community association banking business. The acquisition will also build on CIT's commercial banking strengths through the addition of relationship banking teams and expanded product and technology solutions.
  

 CIT Chairwoman and Chief Executive Officer Ellen R. Alemany, said, "The completion of this transaction accelerates CIT's strategic plan to further enhance our capability as a leading national bank and create additional long-term shareholder value.

"The addition of the homeowner association deposit channel has significant growth potential and will reduce CIT's overall cost of funds, and the middle market banking franchise will expand our footprint and customer base. These capabilities complement CIT's core strengths and will allow us to unlock greater potential and create an even stronger company."

The purchase price was approximately $1 billion, comprised of $850 million in cash and about 3.1 million shares of CIT stock, which were issued to Mutual of Omaha Insurance Co. The transaction includes $6.8 billion in deposits, $4.5 billion of which are community association deposits, and $8.3 billion of total assets, including $3.9 billion of middle-market commercial loans, as of Sept. 30, 2019. In total, CIT now has approximately $42 billion of total deposits and $60 billion of total assets1.   

"We are excited to welcome the teammates and clients of Mutual of Omaha Bank to the CIT family," Alemany continued. "We look forward to strengthening existing relationships, building new ones, and continuing to deliver value for our customers, colleagues, shareholders and communities." 

Mutual of Omaha Bank will begin to transition to the CIT brand and the retail branch locations will adopt the CIT Bank brand over the coming months. Customer accounts remain unchanged at this time and can continue to be accessed through Mutual of Omaha Bank branches, website, mobile apps and relationship managers.   

About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments solutions, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

### Press Release ############################

[headlines]
--------------------------------------------------------------

### Press Release ############################

IRS issues standard mileage rates for 2020
“Use of a car (also vans, pickups or panel trucks)”

WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019,
• 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and
• 14 cents per mile driven in service of charitable organizations.

The business mileage rate decreased one half of a cent for business travel driven and three cents for medical and certain moving expense from the rates for 2019. The charitable rate is set by statute and remains unchanged.

It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except members of the Armed Forces on active duty moving under orders to a permanent change of station. For more details, see Rev. Proc. 2019-46.

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than five vehicles used simultaneously. These and other limitations are described in section 4.05 of

Rev. Proc. 2019-46.
Notice 2020-05, posted today on IRS.gov, contains the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.  In addition, for employer-provided vehicles, the Notice provides the maximum fair market value of automobiles first made available to employees for personal use in calendar year 2020 for which employers may use the fleet-average valuation rule in § 1.61-21(d)(5)(v) or the vehicle cents-per-mile valuation rule in § 1.61-21(e).

#### Press Release #############################

German Short-hair Pointer
Lake Oswego, Oregon  Adopt a Dog

KayDee
Female
76 pounds
2 years, 3 months old

“Hi! My name is Kaydee, I am a young pointer mix with lots of energy. I love toys and games, especially running and playing chase.

“I also enjoy snuggling and cuddling with the youth here, and belly rubs are my FAVORITE.

“I’m okay with other dogs, especially with a careful introduction, but a home without cats would be ideal. I would thrive in a home with a securely fenced yard (did I mention I can jump over 6 feet?), and an active family!

“Please call the kennel at (503) 981-2570 to schedule a visit.”

Project POOCH, Inc.®
Community Outreach Office
NEW LOCATION:
15800 Boones Ferry Rd. Suite A2
Lake Oswego, OR 97035

Phone: (503) 697-0623
General Inquiries
info@pooch.org

To visit the dogs
MacLaren Youth Correctional Facility
2630 N. Pacific Highway
Woodburn, OR 97071
(503) 981-2570
Visits by appointment only

We DO NOT take dogs relinquished by individuals. We only get our dogs from shelters.

[headlines]
--------------------------------------------------------------

Asset-Based Capital Conference 2020
February 4-5, Las Vegas, Nevada

February 4-5, 2020
Encore at Wynn Las Vegas

Our Asset-Based Capital Conference brings together key players from the major asset-based market participants. Join your colleagues in asset-based lending, alternative asset management, private debt, private equity, distressed debt, and service providers such as attorneys and appraisers for two days of panels focusing on the rapidly changing economic environment and the way it is impacting our portfolios and our business opportunities.

After an afternoon networking event on the second day, the program will finish with the Capital Markets Update panel, followed by our popular joint reception with the TMA Distressed Investing Conference.

ABCC is the only conference where you will find outstanding networking opportunities combined with in-depth presentations and discussions geared just for asset-based lenders in the capital markets.

Hotel Information: Encore at Wynn Las Vegas is the official hotel of ABCC 2020. A special discounted rate of $249.00 + tax per night has been negotiated for ABCC attendees. The rate is available until January 13th, 2020. You will receive the link to book your hotel room in your registration confirmation email.

Agenda:
https://www.sfnet.com/home/events/event-detail/2020/02/04/default-calendar/asset-based-capital-conference-2020

Contact for More Information:
https://www.sfnet.com/home/contact-us

News Briefs----

The End Of An Era – deBanked Through the Decade
  Merchant Cash Advance by Sean Murray
https://debanked.com/2019/12/the-end-of-an-era-debanked-through-the-decade/

From plastic bags to natural hair,
  here are the new laws coming in 2020
https://www.cnn.com/2020/01/01/us/new-laws-coming-in-2020-trnd/index.html

CFO Departures 2019
   Record numbers of chief executives left their jobs in 2019
https://www.cfo.com/job-hunting/2020/01/cfo-departures-2019/

More than 400 restaurants closed in San Francisco during 2019
   S.F. restaurateurs decided that enough was enough
https://www.sfgate.com/food/article/411-restaurant-closures-San-Francisco-Jardiniere-14928007.php

A Visual History of the Largest Companies
 By Market Cap (1999-Today)
https://www.visualcapitalist.com/a-visual-history-of-the-largest-companies-by-market-cap-1999-today/

 

 
[headlines]
--------------------------------------------------------------

You May Have Missed---

This simple trick stops Google, Amazon and Facebook
   from listening to you all the time
https://www.usatoday.com/story/tech/2019/12/31/stop-google-home-amazon-echo-facebook-portal-listening/2777408001/

[headlines]
--------------------------------------------------------------

Football Poets

 The famous “beat writer” Jack Kerouac, football scholarship got him into Columbia University in New York.

Jack Kerouac (1922-1969), U.S. author. In an interview in Playboy, June 1959, Kerouac explained the origin of the label "Beat Generation": "John Clellon Holmes ... and I were sitting around trying to think up the meaning of the Lost Generation and the subsequent Existentialism and I said, 'You know, this is really a beat generation' and he leapt up and said 'That's it, that's right!'" The phrase also appeared in Holmes's novel, Go (1952).

Born Jean-Louis Lebris Kerouac, in Lowell, Massachusetts, to a family of Franco-Americans. His parents, Leo-Alcide Kerouac and Gabrielle-Ange Lévesque, were natives of Quebec. Like many other Quebecers of their generation, the Lévesques and Kerouacs emigrated to New England to find employment. Jack didn't start to learn English until the age of six. At home, he and his family spoke Quebec French. At an early age, he was profoundly marked by the death of his elder brother Gérard, later prompting him to write the book Visions of Gerard.

Later, his athletic prowess led him to become a star on his local football team, and this achievement earned him a scholarship to Columbia University in New York. It was in New York that Kerouac met the people whom he was to journey around the world with, and return to write about: the so-called Beat Generation, which included people like Allen Ginsberg, Neal Cassady and William S. Burroughs. After breaking his leg and arguing with his coach, the football scholarship did not pan out, so Kerouac left to join the Merchant Marine in 1942. In 1943, he joined the United States Navy but discharged during World War II on psychiatric grounds.

In between his sea voyages, Kerouac stayed in New York with his friends from Columbia. He started writing his first novel, called The Town and the City, which was published in 1950 and earned him some respect as a writer.

Kerouac wrote constantly, despite not publishing another novel until 1957 when On the Road, published by Viking Press, finally appeared in print. From the point of view of the character Sal Paradise, this mostly autobiographical book dealt with his road trip adventures across the United States and into Mexico with Neal Cassady (represented as Dean Moriarty). The novel is often described as the defining work of the post-war jazz-, poetry-, and drug-affected Beat Generation. He wrote it in an extended session of "spontaneous prose", or stream of consciousness, which created a style of writing entirely of Kerouac's own making. He was hailed in some circles as a major American writer, and reluctantly as the spokesman for the Beat Generation.

His friendship with Allen Ginsberg and William Burroughs, among others.

[headlines]
--------------------------------------------------------------

Report: NFL clears Patriots football staff of wrongdoing
    in sideline video scandal
http://www.theredzone.org/Blog-Description/EntryId/79906/Report--NFL-clears-Patriots-football-staff-of-wrongdoing-in-sideline-video-scandal
        

Warriors’ Steve Kerr: David Stern’s impact on NBA
     greater than any other non-player
https://www.mercurynews.com/2020/01/01/former-nba-commissioner-david-stern-dies-at-77-after-brain-hemorrhage/

Why the 49ers signed a 'retired' Niner for their playoff run
https://www.sfgate.com/49ers/article/49ers-signed-retired-earl-mitchell-lineman-tackle-14945316.php

Raiders Got an Interesting Few Rewards For Losing
    to the Broncos on Sunday
https://www.raidersbeat.com/raiders-got-an-interesting-few-rewards-for-losing-to-the-broncos-on-sunday/

Mario Balotelli’s Italian Homecoming
https://www.nytimes.com/2020/01/02/sports/soccer/mario-balotelli-brescia.html?action=click&module=Editors%20Picks&pgtype=Homepage

[headlines]
--------------------------------------------------------------

California Nuts Briefs---

Fry's Electronics Closes Flagship Store in Palo Alto, CA
  Full Size Basketball Court where Brother Owners Played
https://www.sfgate.com/bayarea/article/Bay-Area-locations-Frys-Electronics-closed-14939907.php

California Passes Bill Giving Homeowners
    The Options to Solar Programs
https://primesolarquotes.com/california/congress.html

CA REAL ID Deadline in 2020: What to Know
https://patch.com/california/losgatos/s/gyrlb/ca-real-id-deadline-in-2020-what-to-know

 

[headlines]
--------------------------------------------------------------

“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

Australian Farmers count cost of fires,
   but hopes new vintage not up in smoke
https://www.brisbanetimes.com.au/politics/federal/farmers-count-cost-of-fires-but-hopes-new-vintage-not-up-in-smoke-20191228-p53nbb.html

Andrew Wright named winemaker at Merryvale Vineyards
https://napavalleyregister.com/community/star/news/andrew-wright-named-winemaker-at-merryvale-vineyards/article_7e5d33a3-a9a0-5058-b0b6-773eff11dba2.html

Free Wine App
https://www.nataliemaclean.com/mobileapp/

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm

This Day in History

  1749 - Benning Wentworth issued the first of the New Hampshire Grants, leading to the establishment of Vermont.
    1777 - General George Washington’s Continental Army defeated British forces at the Battle of Princeton, New Jersey.
    1793 - Political and social reformer Lucretia Coffin Mott (d. 1880) born in Nantucket, MA.
http://memory.loc.gov/ammem/today/today.html
    1823 – Stephen F. Austin received a grant of land in Texas from the government of Mexico.
    1831 – The building & loan association in the US organized at Frankford, Pennsylvania.
    1834 – The government of Mexico imprisoned Stephen F. Austin in Mexico City.
    1852 – The first Chinese emigres landed in Hawaii.
    1861 – Delaware rejected a proposal to join the Confederate States of America, deciding to remain in the Union.
    1870 – Construction began on the Brooklyn Bridge.
    1876 - Hill Institute opened in Florence, MA. Originally called the Florence Kindergarten, because it was in the home of its founder, Samuel Lapham Hill, it become known as the Hill House and later to the name known today as the first free Kindergarten.
    1888 - Marvin Stone, of Washington, D.C., filed a patent for a drinking straw made out of paraffin-covered paper, replacing natural rye straws. It revolutionized drinking soda pop, not only a drug store fountains, but baseball games, beach, and all outdoor events. 
    1889 – The world’s largest telescope at the time, the James Lick telescope at the Lick Observatory, east of San Jose, measuring 91 cm in diameter, was used for the first time.
    1889 – An admissions convention seeking statehood was held in Ellensburg, WA. 
    1897 - Marion Davies, born Marion Cecilia Douras (d. 1961) at Brooklyn, NY. She made her first appearance on film in 1917. Her romantic and professional involvement with newspaper magnate William Randolph Hearst ensured the type of publicity that would launch her to stardom. Her films included When Knighthood Was in Flower, The Patsy and Show People. She had a mansion on Santa Monica Beach and as kids we would visit. When she was in a good mood, she was friendly and gave us soda. When her house was vacant, it became a place for us to meet as we knew how to enter, plus guards remember us as her friends.
    1899 – The first known use of the term “automobile” appeared in an editorial in The New York Times.
    1903 - President Theodore Roosevelt signed a bill establishing South Dakota's Wind Cave as a national park and preserve. It was the first national park established for the preservation of a cave.
    1904 - Eddie Lang Birthday 
http://www.redhotjazz.com/lang.html
    1907 – Ray Milland was born Alfred Reginald Jones (d. 1986) in Wales. 
His screen career ran from 1929 to 1985, and he is best remembered for his Academy Award-winning portrayal of an alcoholic writer in “The Lost Weekend” (1945), a sophisticated leading man opposite a corrupt John Wayne in “Reap the Wild Wind” (1942), the murder-plotting husband in Hitchcock’s “Dial M for Murder” (1954), and as Oliver Barrett III in “Love Story” (1970).
    1909 - Victor Borge was born Børge Rosenbaum (d. 2000) in Denmark.  Comedian, conductor, and pianist who achieved great popularity in radio and television in the US and Europe, his blend of music and comedy earned him the nicknames "The Clown Prince of Denmark," "The Unmelancholy Dane," and "The Great Dane.”
    1910 - Stanley George "Frenchy" Bordagaray (d. 2000) was born in Coalinga, CA.  He played Major League Baseball with several clubs between 1934 and 1945 with a .283 career batting average.  Bordagaray gained publicity through the press through his colorful personality and various gimmicks. He grew a mustache in a time when baseball players were expected to be clean shaven.  He told the following story, "I was making $3,000 a year playing baseball, so I figured I could at least have fun while I was not getting rich. But after I had [the mustache] about two months, Casey [Stengel] called me into the clubhouse and said, 'If anyone's going to be a clown on this club, it's going to be me.'"
    1919 – Herbert Hoover was put in charge of war relief in Europe.
    1920 - Boston Red Sox owner and theatrical producer Harry Frazee sold pitcher-outfielder Babe Ruth to the New York Yankees for $125,000 and a $300,000 loan. Frazee used the loan several years later to produce “No, No, Nanette,” a hit musical.
    1921 - The University of Wisconsin, Madison, WI on station 9XM made the first weather broadcast.  Other radio stations copied this popular news.
    1929 – William S. Paley, 27, became the president of CBS.  In 1927, Samuel Paley (William’s father), Leon Levy (Leon Levy was married to Paley's sister, Blanche), and some business partners bought a struggling Philadelphia-based radio network of 16 stations called the Columbia Phonographic Broadcasting System.  Samuel Paley's intention was to use his acquisition as an advertising medium for promoting the family's cigar business, which included the La Palina brand. Within a year, under William's leadership, cigar sales had more than doubled, and, in 1928, the Paley family secured majority ownership of the network from their partners. Within a decade, William S. Paley had expanded the network to 114 affiliate stations.  Paley's recognition of how to harness the potential reach of broadcasting was the key to his growing CBS from a tiny chain of stations into what was eventually one of the world's dominant communication empires. During his prime, Paley was described as having an uncanny sense for popular taste and exploiting that insight to build the CBS network. As war clouds darkened over Europe in the late 1930s, Paley recognized Americans' desire for news coverage of the coming war and built the CBS news division into a dominant force just as he had previously built the network's entertainment division.  The lessons of his success in radio carried well into the booming pst-war medium, television.
    1930 - The first diesel engine car trip was made by Clessie Lyle Cummins of the Cummins Engine Company, Columbus, IN, with a stock model engine weighing 1,200 pounds, delivering 50 horsepower at 1,000 revolutions per minute with four cylinders of 4.5x6 inch bore, installed in a seven-passenger Packard sedan. He left Indianapolis, IN this day and arrived in New York City on January 6, covering 792 miles at a total fuel cost of $1.38.
    1933 – Minnie D. Craig became the first woman elected as Speaker of the North Dakota House of Representatives, the first woman to hold a Speaker position anywhere in the United States.
    1938 – The March of Dimes was established by President Franklin D. Roosevelt, himself a victim of the disease, to fight polio.
    1939 - Hockey Hall of Fame Left Wing Bobby Hull birthday, Point Anne, Ontario, Canada.  In his 23 years in the NHL and WHA, Hull played for the Chicago Black Hawk, Winnipeg Jets and the Hartford Whalers.  He won the Hart Trophy as the NHL's most valuable player twice and the Ross Trophy as the NHL's leading point scorer three times, while helping the Black Hawks win the Stanley Cup in 1961. He also led the WHA's Winnipeg Jets to Avco Cup championships in 1976 and 1978. He led the NHL in goals seven times, the most of any player in history (tied by Alexander Ovechkin in 2017–18) and led the WHA in goals one additional time while being the WHA's most valuable player two times. He was elected to the Hockey Hall of Fame in 1983 and in 2017, Hull was named one of the '100 Greatest NHL Players' in history.
    1939 - Gene Cox, 13, served on the House floor as aide to her father, Representative Eugene Cox (D-GA), on opening day of the 76th Congress. She was paid $4 for three hours of work and there were no objections to her one-day service. More than 30 years later, however, there was much debate when Senator Jacob Javits (R-NY) nominated a female to be a real Senate page.
    1945 - Admiral Chester Nimitz, placed in command of all US naval forces, began planning assaults on Okinawa and Iwo Jima in Japan.
    1945 – Stephen Stills of Crosby, Stills, Nash and Young, was born in Dallas.
    1946 – As a reward for his wartime cooperation, NY Governor Thomas Dewey commuted Charles "Lucky" Luciano's pandering sentence on condition that he not resist deportation to Italy.  Luciano was tried and successfully convicted for compulsory prostitution and running a prostitution racket in 1936 after years of investigation by DA Thomas E. Dewey. He was given a thirty-year prison sentence, but during World War II an agreement was struck with the Department of the Navy through his associate Meyer Lansky in order to protect New York's harbors from Axis U-boats.  Dewey almost failed to keep his end of the bargain and it took months to finally come up with a solution to release Luciano. He was deported to live his life freely outside the U.S.
    1947 - For the first time, the opening of Congress was televised.
    1947 – William Dawson became the first African American to head a Congressional committee.
    1949 - Metronome All-Stars (Parker, Gillespie, Ventura, etc.) cut “Victory Ball,” “Overtime,” and many more, New York City
    1952 – “Dragnet” starring Jack Webb, premiered, on NBC.  “The facts, ma’am, just the facts.”  During its early success on radio, “Dragnet” was popular enough to move to television. More important was that it brought continuity between the television and radio series, using the same script devices and many of the same actors.  This original ran through 1959, then became “Badge 714” in syndication that may still be seen on cable networks occasionally.  On Webb's death in 1982, LA Police Chief Daryl Gates announced that badge number 714, which was used by Joe Friday in “Dragnet”, would be retired. Los Angeles Mayor Tom Bradley ordered all flags lowered to half-staff in Webb's honor for a day, and Webb was buried with a replica LAPD badge bearing the rank of sergeant and the number 714.       
    1957 - Hamilton Watch Company, Lancaster, PA introduced to the public the first electric watch.  The movement was powered by a small energy cell guaranteed to operate the watch for a year. It had no mainspring and had 35 percent fewer parts than an automatic or self-winding watch.
    1959 - Alaska, which had been purchased from Russia in 1867, became the 49th state. The area of Alaska is nearly one-fifth the size of the rest of the United States.
    1962 – Ground was broken for the 8th Wonder of the World, the Houston Astrodome. 
    1965 - Three brothers became the first from one family to serve in the Senate. Three sons of Joseph Patrick Kennedy and Rose Kennedy of Boston, MA. are John Fitzgerald Kennedy, senator from Massachusetts, who was sworn in on January 3, 1953; Edward Moore Kennedy, also from Massachusetts, who was sworn in on January 9, 1963; and Robert Francis Kennedy, senator from New York, who was sworn in on January 3, 1965.
    1971 – NFL football, Bay Area chapter.  AFC Championship Game: Baltimore Colts beat Oakland Raiders, 27-17; NFC Championship Game: Dallas Cowboys beat San Francisco 49ers, 17-10.
    1973 - A group headed by shipping executive George M. Steinbrenner, III, bought the New York Yankees from CBS for $10 million.  During Steinbrenner's 37-year ownership from 1973 to his death in July 2010, the longest in club history, the Yankees earned seven World Series titles and 11 AL pennants.  The team continues under the family ownership with Steinbrenner’s sons, Hal and Hank.
    1976 - Martha Elizabeth Keys, Democrat of Kansas and Andrew Jacobs, Jr, Democrat of Indiana, were married at Topeka, KS, to become the first congressional representatives to marry each other.
    1977 – Apple Computer incorporated
    1980 – One of the greatest catches in Super Bowl history was made by David Tyree, born in Livingston, NJ.  His “Helmet Catch” in 2008 on the New York Giants' final drive of Super Bowl XLII, came at a crucial moment in continuing the drive that eventually resulted in the Giants scoring a last-minute touchdown, resulting in a 17–14 victory over the previously undefeated New England Patriots.  The pass was thrown by QB Eli Manning, see below.
    1981 – Eli Manning was born Elisha Nelson Manning IV in New Orleans.  Son of QB Archie Manning and brother of Peyton Manning, Eli is the winner of two Super Bowls with the Giants, MVP in each and holds Giants franchise records for most passing yards, TD passes, and completed passes in a career.
    1983 – Dallas Cowboys running back, Hall of Famer Tony Dorsett, set the NFL record for the longest run from scrimmage, ripping off a 99-yarder against the Minnesota Vikings.
    1987 - Cleveland quarterback Bernie Kosar passed for 487 yards, an NFL playoff record to date, to lead the Browns to a double-overtime 23-20 victory over the New York Jets in an AFC divisional playoff game. The following week, Cleveland lost the AFC championship game, also in overtime, to the Denver Broncos by the identical score.
    1987 – The Rock and Roll Hall of Fame inducted its first female artist, Aretha Franklin.
    1989 - “The Arsenio Hall Show” premiered on TV. Arsenio Hall became the first African-American to host a successful syndicated late-night talk show. The show attracted a younger audience than that of Johnny Carson's “The Tonight Show” and effectively limited the impact of CBS's 1989 late-night entry, “The Pat Sajak Show.” Hall was successful in booking soul and rap music acts that had rarely been seen on other shows. His was also the show on which presidential candidate Bill Clinton appeared, playing the saxophone in dark glasses. Hall was named by TV Guide (June 1990) as its first “TV Person of the Year.”
    1991 – Wayne Gretsky scored his 700th career goal, against the NY Islanders.
    1993 – The greatest comeback in NFL history occurred when the Buffalo Bills’ backup QB, Frank Reich, engineered a 41-38 OT victory over the Houston Oilers in the AFC wild card game.
    1996 – The first clamshell flip mobile phone, the Motorola StarTAC, goes on sale. Eventually 60 million are sold….and many are still in service!
    2004 - After hosting the show for over 30 years, Casey Kasem gave up the hosting duties of radio’s "American Top 40" to Ryan Seacrest.
    2018 - Previously unknown, the ancient Beringians people were unearthed in Alaska; they are believed to be the earliest known Native Americans at 11,500 years old.