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About the Company: At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide. |
Monday, January 10, 2005
Headlines---
Classified Ads---Collector/Controller
Cartoon----Human Resources
Economic Events This Week
Fourth Quarter, 2004—The List
Fifth Third Bancorp Catches Major Basel II error
Classified Ads---Help Wanted
Pitney Bowes Settles Lease Disputes 4 $20 Million
Ted Brownrigg Joins Orion First Financial
News Briefs---
Sports Briefs--
California Nuts Brief---
"Gimme that Wine"
This Day in American History
American Football Poem
######## surrounding the article denotes it is a “press release”
|
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Classified Ads---Collector/Controller
Collector: Boston, MA. Challenging position where my skills, professional experience, organization, leadership, strategic thinking, creativity, energy, passion, competitive nature will enable me to define opportunities and personal development.
Email: bernd.janet@verizon.net
Collector: Jacksonville, East Brunswick, FL.
13 years experience with collection, recovery, re-marketing and legal on commercial loans and leases. Expertise with distressed portfolios, Six Sigma trained. Willing to relocate. Email: RichardB12364@aol.com
Collector: West Hartford, CT.
Credit/ Collections /Rental Management in leasing & construction fields. Looking for stable company that will appreciate my 20+ years of experience.
Email: losterastringban@aol.com
Controller
Controller: Seattle, WA
CPA w/ 15 years management exp. as CFO/ Controller/5 yrs w/ PriceWaterhouse Coopers. Extensive exp providing accounting/ tax guidance for the equipment lease industry.
Willing to relocate.
Email: bltushin@hotmail.com
Controller: Southeastern, MI.
Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate.
Email: Leasebusiness@aol.com
Full listing of all 95 “Job Wanted” ads here:
http://64.125.68.90/LeasingNews/JobPostings.htm
The ads are free and all you need to go to is:
http://64.125.68.90/LeasingNews/PostingForm.asp
We will be contacting all those seeking a job to confirm e-mail
addresses are working, suggest making changes to the “copy,”
or adding their picture and/or resume to the ad, also looking
for suggestions or recommendations. We want to help find
people jobs in the equipment leasing industry...There
ads are free---no cost to those seeking work or to those
hiring the experienced people listed here.
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Cartoon----Human Resources
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Economic Events This Week
January 12
Wednesday
Balance of Trade: November
Federal Budget: December
January 13
Thursday
Retail Sales: December
Weekly Jobless Claims
January 14
Friday
Inventory-Sales Ratio: November
Capacity Utilization: December
Industrial Production: December
Producer Prices: December
----------------------------------------------------------------
Fourth Quarter, 2004—The List
This is the chronological sequence for the last three months of 2004. To view the entire year in HTML format or look alphabetically,
please go here: http://www.leasingnews.org/list.htm
To view specific companies and dates, it is suggested instead of doing a search on the archives, go to the year and then month and look for the subject in the headlines of the editions for that month. It will be much quicker than going through six years of archives.
In 1998, when The List was started, there may or may not
have been a related story, but in the last five years, this
has changed, and while the archive search may find the
subject, if you are looking for a specific for “explanation”
of the post, again, we recommend going to the year and
then month, searching the headlines:
http://www.leasingnews.org/archives.htm
December
NorVergence , New Jersey (12/04) More Leasing Companies "Caving In" (12/04) Leasing News Editorial: Amicable, Generous Settlement for NorVergence Lessees (12/04) NY Atty. Gen. Gets Another $11 Million Settlement (12/04) Penn. AG Sues NorVergence/Salzano Brother (12/04) Other leasing companies follow GE's lead. (12/04) GE becomes hero, sets pace for other leasing companies. In a surprise move, GE Capital made a settlement with New York Attorney General Eliot Spitzer and his staff regarding 100 approximate leases for the so-called "matrix box" and long distance telephone service from NorVergence, who filed Chapter 7 bankruptcy in July (11/04) 41 Leasing Companies in NorVergence Dilemma (10/04) ELA meets NY Attorney General's staff (10/04) Leasing companies file on lessees, Weir Group has almost 1300 plaintiffs in class action suit, newspapers print poor picture of leasing companies (9/04) Florida attorney general requests leasing companies cease collecting lease payments; three other state AG's follow (8/04) First class action is filed, two others to follow. (7/2004) Campaign to Stop Leasing Company Payments (7/2004) Robert J. Fine Resigns as EAEL President, ran Finance Division, discounting paper to banks and others (7/2004) Telecom Agent Association starts “Legal Co-Op” to breaking third party leasing contracts sold by NorVergence or involved with NorVergence equipment and service. (7/2004) NorVergence files Chapter 7(7/2004) NorVergence files Chapter 11.(7/2004) NorVergence investigated for failing to pay its employees NorVergence (4/2004) "Mr. Arnold comes to NorVergence Capital from HP Financial Services, where he was the Finance Director for North America. At HP Financial Services, he was responsible for all financial functions and was instrumental in integrating the HP and Compaq Financial services portfolios. Mr. Arnold was part of management team that launched Compaq Financial Services in 1997."
Matsco Financial (12/04) Fitch Withdraws Ratings: -----6 Greater Bay Bancorp Bank Subsidiaries, Leasing News trying to confirm reports that Matsco is for sale, in fact, in negotiations. (10/04) The Wall Street Journal reports "Insiders say that Greater Bay Bancorp is soliciting potential buyers-Matsco is a part of Greater Bay Bancorp. (1/04 ) According to three highly reliable sources at Cupertino National Bank, Cupertino, California, where Matsco was banking ( a Greater Bay Bank,) Matsco gave the bank its highest loan write-off in 2003, resulting in restructuring both at the bank and Matsco. The matter is now resolved, the sources said, and changes have been made. The account is also no longer domiciled at the bank, they reported. Steven C. Smith, Executive Vice President and Chief Financial Officer Greater Bay Bank, said that since Matsco is not a separate segment of the business there will not be a separate financial statements in the bank 4th quarter report. He stated there will be information on segment loan growth and loan charge-offs. adding that he thought it was a very detailed disclosure. He stated the bank always does a full disclosure and it is in compliance with all of the latest SEC required disclosures ,- which he added they have been doing well before all of the focus on accounting issues from the Worldcom and Enron's of the world. He did not want to be quoted directly and did not comment, nor confirm nor deny, any loan write-offs at Cupertino National Bank, referring all information to the SEC filing. (1/04)Matt Shieman, president of Matsco, a Greater Bay Bank company, Emeryville, California, told Leasing News last year "was the best ever. We may have let some people go last year, as many companies were forced to do, but everyone is happy here, business is good... No broker business. We cut down on the commercial sector, but any rumor to the contrary that business is not very good here is definitely not true." (7/03) Greater Bay Bancorp Reports Net Income of $48 Million for the First Six Months of 2003; Credit Quality Stable and now in compliance. Greater Bay Bank telephone conference:" Didn't sell any Matsco loans (securitizations last quarter due to operational problems, these loans are in the 1 ½ million to 2 million dollar range---problem is primarily due to a front system conversion, not complete, that will allow Matsco to save a quarter million a month in operation expenses when it is up and running (said in question and answer session at end of conference). Basically Greater Bay Bank is a "business bank" and should not be compared to peers who are more into consumer finance; they are a relationship bank and want to continue in that manner. Personal guarantees are important in real estate because in many instances the president of the bank can go to the person directly and ask them to stand up; the bank plans to be tight on operations and even more so, the local economy has been one of the toughest, especially the last couple of years, but the bank is in a strong position when the bay area turns around, capital levels very strong, although loans have been sluggish recently, but perhaps will move soon as there are some signs, less commercial real estate loans, no residential mortgages on balance sheet, loans were "flat," didn't sell any Matsco loans this last quarter due to operational problems, but plan to soon in the 1 ½ to 2 million dollar range (7/03) Having problems with vendors (Patterson Dental), real problem with operation system, while parent Greater Bay has their own with their last audit. Shieman to make announcement (but does not.) (5/2003) Reliable sources report commercial and broker division shut down, people let go, company to work solely on captive vendor, dentistry, veteran, CPA marketplace. President Matt Shieman was to give a statement on this at the beginning of this week, but has apparently changed his mind. (12/2000 purchased by Greater Bay Bank)
Fisher-Anderson/Firerock Capital (12/04) While no confirmation from former president Bob Fisher, all e-mail comes back and only telephone goes to a salesman, who does not answer telephone. Let us assume they are no longer in business, until confirmed or denied by a former officer. (4/2003) Bob Fisher becomes sales manager for Douglas-Guardian, leasing service company. He remains a partner in Firerock Capital. Scott Anderson is president. http://www.leasingnews.org/archives/April%202003/4_29_03.htm#bob (2/2002) Bob Fisher resigns to form Firerock Capital; Scott Anderson stays behind to wind down portfolio; company was sold to MarCap, Fisher reveals; MarCap reportedly having problems with many of its leasing portfolio's and wants to get out of small ticket marketplace (8/ 2001) Many sales people let go the last few months, company cuts back, Don Shadel, former Commercial Vehicle Division Manager of Fisher Anderson L C, and several CVD staff members, have started a new company named Mark III Credit Corp. The focus will continue to be new and used work oriented vehicles in the small ticket range from $15,000 to $150,000. Our prior company, Atlas Funding Group, Inc. was acquired by Fisher Anderson L C in September of 1998 to market a national titled vehicle program for brokers and lessors." Our affiliation with Fisher Anderson L C the last three years has been a pleasant experience, however recent changes in the transportation industry dictated that we both move in different directions. " dshadel@markiiicredit.com
Main Street National Bank , Texas (12/04) Thomas J. Depping, former president of Sierra Cities/First Cities, makes it official, that he has raised $21 million to become chairman of bank to specialize in equipment leasing; hires Douglas Guardian, sales director Bob Fisher, who leaves on good terms to establish national broker program. Fisher is very well respected in the equipment leasing industry.
HP/Compaq Financial (12/04) HP Financial Services recently announced that they are closing their Colorado small ticket operations center and moving to Murray Hill, NJ. All of the employees in Colorado will be laid off. (3/ 2003) closes originations by third party, told doing leases without running personal credit on president, not requiring personal guarantees, plus doing start-up restaurants, among other type credits at very low rates, $1.00 out, no additional collateral-puts on a lot of business after merger of parent.
American Express/Sierra Cities/Rockford (12/04) "AMEX turned over control to Key Bank last night and on the way out the door AMEX funded EVERYTHING in the system,.....verbals were not completed on many transactions, nor had delivery of the equipment occurred for many deals as well.....random attempts were made to complete verbals however after a message was left the deal was BOOKED.... "Nice to see Integrity rises to the upper levels of management in this industry!!" (10/04) American Express Business Finance Sold to Key Equipment Finance. (10/04)Former Sierra Cities President Thomas J. Depping reportedly raises $21 million from investors and buys bank in Texas to go back into the equipment leasing business. (9/04) The Gazelle is Back! Registered for the October 27th Equipment Leasing Association Conference in Palm Desert, California: Mr. Thomas J. Depping MAIN STREET INVESTMENT PARTNERS Mr. Robert H. Quinn, Jr. MAIN STREET INVESTMENT PARTNERS (3/2004) 40 Amex Leasing Employees let go in Santa Ana, closing down the office imaging-copier processing center in Santa Ana, CA.---- where the old Rockford use to be in the Xerox building on Third Street. Much of the health operation went back to Parsippany (NJ), and some moved to the old Sierra Cities location in Houston, Texas. The main reason for the closing of the operation here-- the building lease was originally to Rockford and it expired. Some HR and marketing employees will remain in Santa Ana., about ten. All employees were offered jobs in other American Express locations. (11/2002) Lays off salesmen, rumors float they are about to get out of leasing business; Richard Anderson does not return telephone calls to confirm or deny. (09/2001) American Express Business Finance has closed down their broker division. We can submit deals until 10/12/01. All deals must be funded by 12/31/01. Unconfirmed rumors that salesmen are now going after the broker vendor accounts. We are seeking to confirm or deny this. (8/2001) Discovers up to $20 million write-off with RW Leasing portfolio, other portfolio's, alleged stock fraud, Amex declares they are investigating (7/2001) pretax write-down of $826 million that will pummel, second-quarter profits. The company also unveiled plans to cut as many as 5,000 more jobs because of the weak economy. Rumors abound about portfolio performance and major problems in the woodpile/going the way Rockford Industries went. (5/2001) New Name: "American Express Business Finance" (4/2001) Merger complete, Depping resigns as "gazelle" (3/31/2001) American Express completes purchase/merger (3/2001) Sierra Cities-Amex Merger gets green light by authorities (2/2001) offer from American Express for $5.68 per share in cash. We predicted this last week, naming the company and floor price. American Express active in equipment leasing, likes what it sees, and Sierra Cities is the vehicle, not Advanta or others that it has viewed to purchase. (1/2001) VerticalNet Merger falls apart. (1/16/01) Sells Off UK Assets. (7/2000) 2nd quarter loss, see report http://www.leasingnews.org/articles.doc/newsletter3.htm.
Commercial Money Center (CMC) , Southern CA. (12/04) Reportedly the settlements over unpaid leases continue two years after the bankruptcy of Commercial Money Center (CMC). Officers have been back in business since then, but under different names. The latest agreement involves Lakeland Bank and Royal Indemnity. Allegedly both firms filed claims against each other over the pools of commercial leases Lakeland purchased from CMC and surety bonds Royal issued that guaranteed lease income. Under terms of a recent agreements. Royal will pay $1.85 million to Lakeland, which in turn gets to retain $531,000 Royal already paid. The deal must still be approved by the U.S. Bankruptcy Court (5/2004) CMC Cases Like Timex—Keeps Going and Going. (11/03)The officers of this company are back in business while the "disputes" continue among insurance companies, banks, vendors, lessees, and perhaps only the attorneys are being remunerated (10/03) Ameriana said it will write off two lease pools in the third quarter, an action that will reduce the quarter's net income by approximately $2,784,000 or $0.88 per diluted share. Heretofore, Ameriana had established reserves against these lease pools equal to approximately 58% of the approximately $10,900,000 that currently remains outstanding. Note: NetBank and others have taken over certain aspects of the defaulted portfolio, as reported earlier, and suits with the insurance agency surely continue, while the class action suit continues taking depositions, while the former officers have started new leasing and finance ventures. (3/2002) Court filing agreements http://www.leasingnews.org/archives/March%202003/03-13- 03.htm#cmc (3/2003) NetBank Lakeland settle BK for portfolio http://www.leasingnews.org/archives/ March%202003/03-12-03.htm#new (3/2003) CMC attorney withdraws, not getting paid http:// www.leasingnews.org/archives/March%2020 03/03-06-03.htm#cmc (3/2003) Class action lawsuit regards not being licensed in California for lease financing http://www.leasingnews.org/archives/March%202003/03-05-03.htm#believe 12/2002---Commercial Money Center Bankruptcy Docket for case 02-09721 http://two.leasingnews.org/temporary/bankruptcy.htm (12/2002) Ameriana Bancorp to Boost Reserves 4Q re: Commercial Money Center (Nasdaq: ASBI) announces that it will set aside additional reserves of up to $5.6 million in the Company's fourth quarter ending December 31, 2002. This action will reduce fourth quarter after-tax net income approximately $3.4 million or $1.08 per share, resulting in a net loss for both the quarter and full year. In 2001, Ameriana reported net income of $1,216,000 or $0.39 per diluted share for the fourth quarter and full-year net income of $3,800,000 or $1.21 per diluted share. Approximately $4.7 million of the additional reserves to be set aside pertain to Ameriana's investment in a pool of leases acquired from the Commercial Money Center ("CMC"), a now- bankrupt equipment leasing company. Ameriana originally purchased two separate pools of equipment lease receivables totaling $12,000,000 from CMC in June and September 2001, of which approximately $10,900,000 currently remains unpaid. Each lease in the pools was backed by a surety bond issued by one of two insurance companies rated at least "A" by Moody's Investors Services. The bonds guaranteed payment of all amounts due under the leases in the event of default by the lessee. Each pool was sold under a Sales and Service Agreement by which the insurers serviced the leases. In each case, the insurers assigned their servicing rights and responsibilities to Commercial Servicing Corporation, an affiliate of CMC, which also has filed bankruptcy. When the lease pools went into default earlier this year, one insurer made payments for several months under a reservation of rights while the other refused to make any payments. Both insurers now claim they were defrauded by CMC and are denying responsibility for payment. Ameriana is one of a number of financial institutions around the country that purchased interests in lease pools from CMC. All of the CMC lease pools are in default and in litigation. The Federal Panel on Multi-District Litigation has taken control over most of the federal actions involving the insurers of the lease pools and has assigned them to the U.S. District Court for the Northern District of Ohio, Eastern Division, for consolidated pre-trial purposes. (NetBank has $80 million as part of the suit, among others.) (10/2002) Deadline for filing for claims for Commercial Money Center has been extended since the proceedings were converted to a Chapter 7. The CURRENT attorney is Bradley Shraiberg and his phone number is 561.395.0500. He is the contact until a further motion is filed to have him removed (he said for geographical reasons, as it is now moving to the Southern District of California Bankruptcy court in San Diego .) ( Read about CMC ) (6/2002) files voluntary bankruptcy, #11, in Florida, all hell breaks loose (5/2002) Gets worse, officers may go to jail (4/2002) Many, many complaints; reports of leases where equipment never existed, paying for leases that do not exist, much behind the scenes on the reputation of the founders, lawyers having a field day, San Diego FBI investigating all.(3/2002) Throws in the towel, 128 employees out of work, Dir. of Marketing Bill Hanson not paid, goes back to work for himself, bringing Gil Evans and his son Ty with him. closes door, leaving many unpaid bills and questions, especially about Kiosk leasing. (2/2002) Returns $1.2 Million to Date admit many complaints by applicants, vendors, and brokers. Fails to secure insurance line of credit after September 11th
RW Professional , Long Island, NY (12/04) Bank of New York pays $24 million fine in order to avoid criminal indictment for allegedly failing to report suspicious activity at a branch. "Bank of New York eats $24,000,000 for not handling the infamous "E" account properly. Barry will never serve time in jail, but the deep pocket guys will roll to cover their ****." (9/04) Drayer Fires Attorneys, Trial Postponed until March, 2005 (8/04) Trial scheduled for October 14,2004. http://www.leasingnews.org/archives/August_2004/8-09-2004.htm#rw (6/2004) Trial to start October 14 th , 2004 http://www.leasingnews.org/Conscious-Top%20Stories/RW_update7.htm (11/03)Jury to be selected for trial on April 12,2004 (9/03) Defendants on bail, "house confined," with trial to start April 12, 2004. "Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnaires two weeks before jury selection on 3/30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt. to move documents to another location and keep boxes (2nd set) for the Courthouse." Last file is a letter: "Ms. Besser is currently subject to a 7:00 p.m. curfew as part of her pre-trial supervision and requests that the curfew be lifted on 10/19/03 so she may participate in a gathering in Manhattan." It appears for the defendants to ask to either/or travel from their home or at certain hours, as they are remanded to their residence with electronic monitors on their ankle. "MINUTE ENTRY; before USDJ Spatt on 9/5/03 @ 11:30 a.m., for Criminal Cause for Status Conference as to Dfts Payaddi Shivashankar, Susan Cottrell, Adam Drayer, Roger Drayer, RW Professional Leasing Services Corp., Rochelle Besser, Barry Drayer. Dft RW Professional Leasing Services Corp. present on bail with retained counsel Stuart E. Abrams. Dft Rochelle Besser present on bail with retained counsel Stuart Abrams. Dft Barry Drayer present on bail with retain counsel Stephen L. Cohen. Dft Roger Drayer present on bail with retained counsel Jerald Rosenthal. Dft Adam Drayer present on bail with retained counsel Thomas Marino. Dft Susan Cottrell present on bail with retained counsel Jerald Rosenthal. Dft Payaddi Shivashankar present in custody with CJA counsel Edward Jenks. Govt: Geoffrey Kaiser. Court Reporter: Harry Rapaport. Case called. Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnaires two weeks before jury selection on 3/ 30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt to move documents to another location and keep boxes (2nd set) for the Courthouse. Notice of Appearance filed by Jerald Rosenthal for dft #4. (Coleman, Laurie)" (6/2002) 40 FBI agents raided the offices and arrested Barry and Rochelle, Roger and Jennifer Drayer. The investigation found $6.5 Million of fraud. Prosecutors said that the company, the RW Professional Leasing Corporation, concocted elaborate schemes using up to 100 rented mailboxes as far away as California to send phony checks, sham invoices, bogus leases and other false documents to banks in various states. Based on those documents, the banks lent RW millions of dollars to buy equipment and lease it out, prosecutors said. The schemes included multiple loans from different banks for the same medical equipment and loans for equipment that was never bought or leased, prosecutors said. Take the Money and Run:
Part I, http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun1.htm
Part II, http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun2.htm
Part III http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun3.htm
November
Citigroup , New York (11/04) Citigroup Inc. announced that it has agreed to sell a unit that lends to the trucking industry to General Electric Co. for about $4.4 billion. The business provides financing, leasing, and asset-based lending. It has about 600 employees, two-thirds of whom are in Dallas. The rest are in Toronto. Citigroup stated the reason for the cash sale was to divest itself of a business that doesn't offer viable cross-selling opportunities. The deal is the last in a series of recent sales of leasing businesses at its CitiCapital unit.
Alpine Capital , Cincinnati, Ohio (11/04) acquired by National City Bank, a subsidiary of National City Corporation, announced that it acquired Alpine Capital Corporation, an equipment leasing organization. Alpine Capital will continue to be managed by Michael Morris, who will report to Vince Rinaldi, president and CEO of the National City leasing entity, National City Commercial Capital
Monroe Capital , Chicago, IL.(11/04) Theodore L. Koenig forms company to originate, structure, and provide "customized financing to corporate, real estate and asset-based borrowers based in the U.S. and Canada in amounts of $3 million to $40 million, with an ability to agent and syndicate larger transactions."
October
Universal Express (10/04) (OTCBB:USXP), sells 75% of Universal Express Capital Corp. its former subsidiary, to Capitalliance, a $350,000,000 insurance and funding operation. USXP will retain 10% of the shares of the new Company and 15% of the shares of the Company will be distributed to USXP shareholders.
Microfinancial/Leasecomm (10/04) Announces 3rd Q 2004 Results: Loss PDS Gaming Corporation dba PDS Leasing, Nevada (10/04) the remaining requisite conditions to the merger of PDS Acquisition Sub, LLC and PDSG, with PDSG as the surviving corporation (the "Merger"), having been satisfied PDS Holding Co., Inc. is now the sole shareholder of PDSG. The common stock of PDSG is no longer publicly traded or quoted on the Nasdaq SmallCap Market (10/04) Secures $30 Million Line of Credit from CIT(4/2004) Reports $7.6 Million revenue loss first quarter, resulting in $4.7 million net loss. (11/03) Changes name to Transaction Enabling Systems http://www.tes-edi.com/ (10/03) Net Loss $3.2 million for 3rd Q (10/03) class action filed. (5/03) Record Fine/Judgment Under the terms of the settlement with the Federal Trade Commission, Leasecomm will stop collection efforts on all outstanding judgments, totaling $24 million, involving the financing of the software and equipment for processing credit-card transactions. The company also agreed to stop financing those kinds of business opportunities in the future. Leasecomm will also pay a $1 million fine to be split by the states of Massachusetts, Florida, Illinois, Kansas, North Carolina, North Dakota and Texas. The district attorney for Ventura County, Calif. will also receive a portion of that fine. The company was looking for a financial partner, and there is the question regarding the selling of $500,000 stock by an executive officer before the stock took a nose dive. The company was also recently "re- listed" on the exchange. http://www.leasingnews.org/archives/June%202003/06_02_2003.htm#24 (5/03) New York Stock Exchange has accepted the Company's proposed compliance plan for continued listing on the Exchange (5/2003) Files $0.8 million quarter loss http://www.leasingnews.org/archives/May%202003/05_08_2003.htm#micro (4/2003) delays filing for 15 days with SEC (3/2003) to be de-listed (3/2003) Net loss for year-end was $7.7 million. http://www.leasingnews.org/archives/March%202003/03-11-03.htm#micro (2/2003) Stocks Falls to .73 cents on Friday, 12/2002-----The Board of Directors of MicroFinancial Inc. (NYSE:MFI) has suspended its dividend to comply with the Company's banking agreements. (11/2002) Leasecomm closes, shuts off all brokers, won't fund deals approved "Goes Down---CEO Sells $500,000 Stock Before the News." ( Microfinancial Stories )Waltham, MA (8/2001) Leasecomm, Attorney General investigating, many complaints on line .
Bay4 Capital , LLC, Danbury, Conn. (10/04) The independent information technology lessor is acquired by GE Commercial Finance.
Republic Leasing of South Carolina/NetBank (10/04) "Production within our business finance division (formerly known as Republic Leasing) increased by $4.4 million or 10% for a record of $46.9 million." (7/2004) New name :NetBank Business Finance (6/2004) July 1, 2004, Republic Leasing, a subsidiary of NetBank, will become a division of NetBank. (4/2004) ” The commercial equipment leasing business had production of $39 million, a decrease of $5.2 million or 12% “ (3/2004) Republic Leasing of South Carolina to Become Division NetBank April 1,2004. (7/2003) Jim Merrilees, CLP leaves to join Santa Barbara Bank & Trust Leasing Division as Vice President. Laura Poore also joins the Leasing Division as Marketing Representative. The division specializes in small-ticket leasing transactions originated through equipment leasing companies and brokers nationwide (2/2003) Forms a new division with Jim Merrilees heading it up in Portland-Merrilees left First Corp after Textron, Nations Credit, Greybank, Colonial Pacific Leasing. To concentrate on vendor/captive lessor marketplace. (1/2003) NetBank reported a net loss of $15.9 million (or $.36 per share) for the full year 2002 (12/2002)"The aim is to package the loans and sell them to investors for fatter, "banklike" profits; armed with new management and a coterie of experienced bankers plucked from rivals. .. languished since the Internet bubble burst. At their peak, the shares were trading at more than six times what they are fetching now. NetBank, with total assets of $3.76 billion, operates the nation's largest independent retail Internet bank. It also is a wholesale and retail mortgage lender. No one doubts that Internet banking is here to stay. Most banks -- large and small -- offer online banking in some form." Atlanta-Journal. $80 million loan Commercial Money Center insurance question. http://two.leasingnews.org/ archives/December%202002/12-30-02.htm#NetBank (7/2002) cuts over 100 brokers, wants to become more efficient with remaining 150 brokers. (11/2001) parent and company now owned by NetBank; Dwight Galloway gets early Xmas present, broker community cheers the good news too. http://www.leasingnews.org/Conscious- Top%20Stories/dwight.htm 9/27/2000 "The expected result will be a sale of Republic Leasing" --- Dwight Galloway. He adds, "We have always been for sale for the right price, but in 13 years we have not sold off any leases or gone direct after broker's business, ever".
Orix Financial (10/04) ORIX Announces Interim Results-Leasing Revenue Down. (7/2004) Reports Closing Kennesaw, GA Office, rental available. (4/2004) Gary Corr, president and COO of ORIX Financial Services, Inc. (OFS) announced the promotion of Bill G. Fite to group president of ORIX's equipment finance group (EFG). Many complaints by employees continue over lack of communication and broker promises. (1/04) On February 13th, forty people will be let go in Orix's New York Office and twenty-five in Kennesaw with layoffs continuing every two weeks from then on through the end of the fiscal year (3/31). “The layoffs will hit IT and Accounting the hardest but they will be across the board (SFG, EFG, RPG, Operations, HR).“Also, apparently there is an internal memo among the Dallas Executives that has a timeline for vacating Kennesaw entirely (1/04) “We Need Your Help!” Orix Employee Cries Out Loud ( http://www.leasingnews.org/archives/January%202004/01-16-04.htm#we ( 1/04) Orix Capital Markets will announce that they are shutting down the NY office. Major layoffs will hit the Kennesaw, Georgia office either mid or late February. Nothing is certain yet but it is probably safe to say that Orix will be out of the leasing business altogether at this time in 2005. (1/04) “ They have also already told the CIO, Chief Legal Officer, EFG Group President, and some other senior level people when their last day will be (1/04) Gary Gusoff is Gone---Five More to Follow (12/03) Despite the press releases and hoopla, according to a highly reliable source, Gary Gussoff last day will be December 31, with more officers to follow, with rumors Orix may be getting out of the leasing business in the USA (11/03)Fitch Withdraws ORIX Financial's Senior Debt Rating (11/03) " Holmes had four businesses reporting to him, the ones run by Hidder, Crain, Neptune and Fite. Today after the reorganization Corr gets only one of those businesses, the old Credit Alliance portfolio run by Fite. The other three organizations that Holmes recruited and nourished at OFS are all reporting elsewhere. How long will those guys stay around, they jumped ship from elsewhere to follow Holmes? And what is the fate of Fite, is he really necessary if all Corr has is the Equipment business?" (11/03)Fitch Places ORIX Special Servicer Rating Watch Negative| (10/03) http:// two.leasingnews.org/loose_files/Orix_Motivational_Posters.ppt (10/03) Beyond comedy. (10/03) Holmes gone! (10/ 03) Orix floundering, Holmes to going, going... (9/03) US team in trouble, look for shake-up on top. (8/2001) "Orix Corporation was raised to "outperform" from "hold" by analyst Tomotaka Ohio at UFJ Capital Markets Securities". In a related story, Orix was reiterated "hold" by analyst Edward Gordon at WestLB Panmure. Insider tells us not much action happening at Orix. Shows what a press release about a new president coming on board and new credit manager. Hype still works on Wall Street. (7/2001) Hires Donald Cox as Exec.VP/CFO-30 years exp. at BofA. Many predict he will be a "figure head" and the company will not be around in two to three years---history will tell if this is correct or not. (4/2001) Orix to "consolidate;" close offices, moving to Atlanta, GA. (2/2001) Closes re-discount center, Steve Geller says "goodbye." (11/10 First six months profits up 14% at Orix! ) (11/8) New President at Orix appointed. 10/2000 "long-term Outlook has been revised from Stable to Negative". Credit Alliance has changed its name to ORIX Financial Services, 9/2000 Japanese Bank President commits Suicide (Orix is a 14.7% shareholder in bank having problems), (8/2000) closes small ticket vendor division in Portland Oregon, "Business as usual in New Jersey and with Brokers" says Steve Geller.
Preferred Lease/CapitalWerks (10/04) A number of readers questions how Kinko's turned over a video so quickly, others believe it is an ex-employee that is the culprit and thus the real reason the name is not being revealed(10/04) “We do not receive any benefit in publicly humiliating the individuals responsible for this misconduct. Our intentions are to hold them responsible and liable for the consequences of their statements, and to recover damages they have caused to our business,” says Raeder (10/04) Survey Results: “Let Us Know the Name” http://www.leasingnews.org/archives/October%202004/10-01-04.html#survey (9/04) Jim Raeder to reveal culprits name(8/04) Jim Raeder allegedly sees video at Kinko's, sales slip, talks to clerk, knows party's name and company (8/04) derogatory and malicious accusations spread around internet and to funders, industry readers, becomes “chain letter.”(8/04) New York Times criticizes company for not returning advance rentals. Controversy grows regarding story and commitment fees in general (5/2001) Preferred Lease, A CapitalWerks Company Mark Seif now in private law practice, company one of his clients (3/2001) Rumor close to sell to Capital Werks, and will become Preferred Leasing, a Capital Werks Company, this month (2/2001) internal memo about training by company about to take over, supposedly there for several months, "training" employees (01/2000 Mark Seif confirms for sale; will make no further comments (12/2000) Company reportedly on the block "one the block." ( 11/2000). David Murray left 11/7 "didn't like letting his friends go." (Reportedly now at VenServe ).
Both alphabetical and chronological in HTML at:
http://www.leasingnews.org/list.htm
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Fifth Third Bancorp Catches Major Basel II error
American Banker
According to recent announcements from the Federal Reserve Board, the Federal Deposit Insurance Corp., and other regulators, there is an error in the Basel II capital requirements formula, a mistake that could have caused bankers and lenders to underestimate their capital needs by 60 percent to 70 percent for retail credit portfolios.
The problem lies in a square root sign that is extended over too many figures, which would have had an effect on capital holdings for mortgages, credit cards, and small business loans.
Government officials claim that the error was made by the publisher of the guidelines, but critics are concerned that many banks have already used the incorrect formula.
Fifth Third Bancorp officials stated that they had caught the formula error in their application of the guidelines, but analysts are concerned that banks that have never used Basel formulas before will be using the incorrect calculations.
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To order call +44 (0) 20 7779 8999 or toll free in the US +1 800 437 9997 to receive your 10% discount. You can also order on line at |
Classified Ads---Help Wanted
Account Representative & Inside Sales Manager
About the Company: At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide. |
Accounting
|
Business Development Officer
|
About the Company: Santa Barbara Bant & Trust is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness |
Funding Manager
|
About the Company: Advantage Funding is the leader in automotive and equipment lease financing, Long Island City, NY. |
Middle Market Sales Representative
|
About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc |
Business Channel Manager / National Sales Manager/ Small Ticket Leasing Sales People
MSI International is a global recruiting firm that has been supporting the grown and success of companies and enhancing the careers of professionals since 1968. |
National Accounts Manager
Trinity Capital, a subsidiary of Bank of the West, is a national leader in the equipment financing industry with a consistent presence and superior reputation. |
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#### Press Release ####################
Pitney Bowes Settles Equipment Lease Disputes for $20 Million
Pitney Bowes Inc. Stamford, Conn. (NYSE: PBI) and its wholly-owned subsidiary Pitney Bowes Credit Corporation (PBCC) reached a nationwide settlement of the remaining lawsuits concerning a program offered by PBCC to some of its leasing customers to replace equipment if it is lost, stolen or destroyed. Though the company prevailed in several prior, similar litigations concerning this program, it decided to settle in light of the costs, distractions and risk of ongoing litigations. The company continues to deny any liability in the lawsuits that generally allege that the program is mischaracterized in the lease contract and is not properly communicated.
Under the terms of the settlement, members of the class will receive certificates that may be used for purchases from the company's diverse supply operations. The company has also agreed to pay the attorneys' fees for the class of customers and the costs of administering the settlement. The company estimates that it will record a pre-tax charge in the fourth quarter of 2004 of approximately $20 million. The settlement is subject to approval by the state court in the pending Alabama case. The other cases, pending in state courts in California, Texas, and West Virginia, have been or will be dismissed as part of the settlement.
Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $4.8 billion company helps organizations of all sizes efficiently and effectively manage their mission-critical mail and document flow in physical, digital and hybrid formats. For more information about Pitney Bowes please visit
Press - Sheryl Y. Battles
VP, Corporate Communications
(203) 351-6808
(In 1998, they sold their division Colonial Pacific to GE for $800 million dollars: http://www.leasingnews.org/list_alpha_new.htm#col )
#### Press Release ####################
Orion First Financial Announces the Addition of Ted A. Brownrigg,
CLP to its Management Team
(Gig Harbor, WA) -- Orion First Financial, LLC (Orion) announced that Ted A. Brownrigg has joined the company in a senior management position to assist the company in expanding overall operations and to further establish the unique joint venture program offered by Orion First Financial.
Ted Brownrigg has served in various management capacities in the leasing industry over the last 25 years. Most recently as the Senior Vice President, Sales and Marketing for Financial Pacific Leasing, a nationwide small ticket leasing company. His previous experience includes every facet of the leasing business from sales to collections with Westinghouse Credit Corporation and Pitney Bowes Credit/Colonial Pacific Leasing. Ted earned a BA in Economics from Northwest Missouri State University, and is a Certified Lease Professional.
David T. Schaefer, President and Managing Member said: "I am pleased to be working once again with Ted and excited to have him as part of the team at Orion First Financial. Ted's years of experience and his understanding of the leasing marketplace will greatly benefit Orion and our joint venture partners.”
About Orion First Financial, LLC
Orion First Financial, LLC located in Gig Harbor WA, provides a complete and comprehensive suite of services to assist lending institutions and lessors successfully compete in the commercial equipment leasing industry. With a concentration in small-ticket leasing, Orion provides consulting, treasury and advisory services, lease servicing and complete portfolio management.
Orion First has developed a funding mechanism by creating joint ventures with lease originators and arranging warehouse and permanent financing. The joint venture program is unique in that it provides a level of control and flexibility needed in today's leasing marketplace. This program allows participants to expand funding resources, improve transaction flow and build lasting value. The company employs state-of-the-art technology combined with years of management experience to insure lease portfolios are managed in a sound and cost-effective manner. For more information about Orion First Financial visit their website at www.orionfirst.com.
CONTACT:
David T. Schaefer, CLP
Orion First Financial, LLC
PO Box 2149
Gig Harbor, WA 98335-4149
Phone: 888.705.8778 ext. 210
http://www.orionfirst.com
dtschaefer@orionfirst.com
#### Press Release ####################
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News Briefs---
Wireless is the word for 2005
http://www.boston.com/business/personaltech/articles/
2005/01/10/wireless_is_the_word_for_2005/
Israel Asks Citigroup Vice-Chair Stanley Fischer to Run Its Bank
http://www.nytimes.com/2005/01/10/business/worldbusiness/
10citi.html?pagewanted=all
Observers Wonder If Apple Plans Low-Cost Macintosh
http://www.nytimes.com/2005/01/10/technology/
10newcon.html?pagewanted=all
String of storms gives parts of Sierra most snowfall in nearly 90 years
http://www.signonsandiego.com/news/state/20050109-1556-nv-sierrastorm.html
Weak dollar encouraging foreigners to visit United States
http://www.signonsandiego.com/news/business/20050109-9999-m1b9tourism.html
Group aims to capitalize on Firefox success
http://www.boston.com/business/personaltech/articles/2005/01/10/
group_aims_to_capitalize_on_firefox_success/
'9/11,' 'Passion' Tops at People's Choice
http://www.ajc.com/metro/content/shared-gen/ap/
Movies/Peoples_Choice_Awards.html
Movie Box Office Results ( by the way, saw “The Aviator” over the weekend, great acting, directing, and the gal who played Katherine Hepburn deserves an Oscar; looks like tough competition this year with many great pictures.
http://www.boxofficemojo.com/daily/chart/?
sortdate=2005-01-07&p=.htm
----------------------------------------------------------------
Sports Briefs---
Moss Moons Green Bay fans in response to boo's
Culpepper Finally Makes His Gaudy Numbers Count Minnesota quarterback Daunte Culpepper threw 11 touchdown passes and no interceptions against the Packers this season.
Brett Favre threw four interceptions in the loss
http://www.nytimes.com/2005/01/10/sports/football/10vikings.html
Favre discusses possibility of retirement
http://www.usatoday.com/sports/football/nfl/packers/
2005-01-10-favre-retirement_x.htm
Rampaging Colts Ride a Blue Streak Past the Broncos
http://www.nytimes.com/2005/01/10/sports/football/10colts.html
Schottenheimer's gaffes propel Jets
http://www.boston.com/sports/football/articles/
2005/01/10/cleared_for_takeoff/
Rice a forgotten man, on and off field, in Seattle's defeat
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/01/09/SPGLNANKHB1.DTL
Donahue deserves most of blame for 14 losses
http://sfgate.com/cgi-bin/articlhttp:// e.cgi?f=/c/a/2005/01/09/SPGLGANM761.DTL
To interview, 49ers sent their comedy players
http://www.mercurynews.com/mld/mercurynews/sports/10603331.htm
Crennel may have options
http://www.boston.com/sports/football/articles/2005/01/10/
crennel_may_have_options/
Atlanta next stop for Rams
http://www.stltoday.com/stltoday/sports/stories.nsf/rams/story/
E0AC3344CD165C0B86256F850020C2C8?OpenDocument&Headline
=Atlanta+next+stop+for+Rams
Rams: We're not so sorry now
http://www.ajc.com/sports/content/sports/0105/10rams.html
NFL Standings
http://sportsnetwork.com/default.asp?c=nytimes&page=
nfl/stand/standingABA.htm
A.F.C.
Jets at Pittsburgh
Sat., 4:30 p.m. on CBS *
Indianapolis at New England
Sun., 4:30 p.m. on CBS
N.F.C.
St. Louis at Atlanta
Sat., 8 p.m. on Fox
Minnesota at Philadelphia
Sun., 1 p.m. on Fox
------------------------------------------------------------
California Nuts Brief---
Governor in a clash with titans on reforms Result could influence his next career decision
http://www.signonsandiego.com/news/politics/
20050109-1142-part.html
Governor's call to arms causing deep divisions
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/
2005/01/09/MNGM1ANKIO1.DTL
“Gimme that Wine”
Bordeaux wine exports sink in 2004
http://www.expatica.com/source/site_article.asp?subchannel_id=58&story
_id=15497&name=Bordeaux+wine+exports+have+that+sinking+feeling
Constellation to boost Mondavi production back to 500,000 cases
http://www1.pressdemocrat.com/apps/pbcs.dll/article?AID=/20050107/
NEWS/501070370/1036/BUSINESS
Michigan's Fenn Valley Vineyards celebrates a record harvest
http://info.detnews.com/wine/columns/silfven/details.cfm?id=271
----------------------------------------------------------------
This Day in American History
1776- Thomas Paine published "Common Sense" The pamphlet, 50 pages, according to Chase, contained the first demand for independence for the American colonies, sold 100,000 copies the first three months and up to 500,000 before the year-end. No other book in the U.S. has had such a quick or large sale relative to population. The pamphlet was highly influential in swinging the tide of the popular opinion toward a clean break with the mother country. It is said the pamphlet influenced the authors of the Declaration of Independence who followed its objectives very closely. Paine was born in England in 1737 and worked as a corset maker in his teens. He also worked as a sailor and schoolteacher before becoming a prominent pamphleteer. In 1774, Paine arrived in Philadelphia and came to support American independence. His 47-page pamphlet sold some 500,000 copies and had a powerful influence on American opinion. Paine served in the U.S. Army and worked for the Committee of Foreign Affairs before returning to Europe in 1787. Back in England, he continued writing pamphlets in support of revolution. He released The Rights of Man, supporting the French revolution in 1791-2, in answer to Edmund Burke's famous Reflections on the Revolution in France (1790). His sentiments were highly unpopular with the British government, so he fled to France but was later arrested for his political opinions. He returned to the United States in 1802 and died in New York in 1809.
http://memory.loc.gov/ammem/today/jan10.html
1800 - Savannah, GA, received a foot and a half of snow, and ten inches blanketed Charleston SC. It was the heaviest snowfall of record for the immediate Coastal Plain of the southeastern U.S.
1860 -- Pemberton Mill in Lawrence, Massachusetts, suddenly collapses, trapping 900 workers, mostly Irish women. Fire breaks out, adding to the terror and destruction. 116 women are seriously hurt, while 88 are killed. The fire inquest reveals the cast-iron pillars used to support construction were too weak for the brick walls and heavy machinery..
1861 - Florida became the third state to secede from the Union to join the Confederacy.
1864-George Washington Carver, scientist and discoverer of over 300 products from the peanut and sweet potato, may have been born (Carver was apparently born a slave, and we don't know even the year of his birth; however, it seems to have been between 1858 and 1865)
http://www.princeton.edu/~mcbrown/display/carver.html#birthdate
http://www.infoplease.com/ce6/people/A0810661.html
http://www.amazon.com/exec/obidos/ASIN/0826207855/
inktomi-bkasin-20/104-3547695-1517507
1880 -- American Emperor Norton I, self-proclaimed, is buried today at Masonic Cemetery in San Francisco. The funeral cortege was two miles long, 10,000-30,000 people turned out to pay homage and celebrate.
http://www.zpub.com/sf/history/nort.html
http://www.sfmuseum.org/hist1/norton.html
1887- Robinson Jeffers, American poet and playwright, born at Pittsburgh, PA. He died at Carmel, CA. Jan 20,1962.
http://www.kirjasto.sci.fi/jeffers.htm
http://norton3.wwnorton.com/naal/explore/jeffers.htm
http://www.jeffers.org/
http://www.torhouse.org/
1897-Birthday of guitarist Sam Chatman, Bolton, MS Died 2/2/83
1908- birthday of actor Paul Henried, Trieste, Austria. He once estimated that he had played in or directed more than 300 feature or made-for-TV films. Though a staunch anti-Nazi, his early film roles included a number of German roles, including Goodbye Mr. Chips and Night Train. He eventually moved away from the German stereotype in such films as Of Human Bondage, and The Four Horsemen of the Apocalypse . His film career cut short by the anti-Communist blacklist in Hollywood during the 1940s, Henried found a second calling as a director, directing more than 80 episodes of TV's “Alfred Hitchcock Presents.” Born at Tri. He is perhaps best known however for his role as Victor Laslo in "Casablanca." He is best known to me as I dated his daughter in high school. He died Mar 29,1992, at Pacific Palisades, CA.
1910-Birthday of sax player Budd Johnson, Dallas, TX
http://artisttv.artistdirect.com/music/artist/bio/0,,449700,00.html?
artist=Budd+Johnson
1920- Due to the Treaty of Versailles, the League of Nations came into existence. Fifty nations entered into a covenant designed to avoid war. The US never joined the League of Nations, which dissolved April 18,1946
1925—Birthday of jazz drummer Max Roach.
http://www.thejazzfiles.com/JazzRoach.html
http://members.tripod.com/~hardbop/roach.html
1927- blues singer Johnny Ray born, Dallas, Oregon
http://www.johnnieray.com/
1927-Birthday of sax player Allan Eager, New York.
1935- singer Eddy Clearwater, Macon Mississippi. http://www.eddyclearwater.com/eddy/bio.html
http://www.drbillbluesafterhours.com/Music-EddyTheChiefClearwater2.htm
http://search.centerstage.net/music/whoswho/EddyClearwater.html
http://www.jellyroll.com/03/clearwater.html
http://www.guitar-masters.com/Players/Player-Eddy_Clearwater.html
http://www.blindpigrecords.com/artists/Clearwater,+Eddy.html
1935- Ronnie Hawkins, a pioneer of rock 'n' roll in Canada, was born in Huntsville, Arkansas. Hawkins has been a father figure to many of Canada's leading rock musicians, and the graduates of his bands include the groups Crowbar and The Band, as well as Dom Troiano, King Biscuit Boy and David Clayton-Thomas. (Rompin') Ronnie Hawkins began touring the Ontario night club circuit in 1958 with his band the Hawks. In 1959, he scored on the US charts with "Mary Lou" and "40 Days." Hawkins has remained in Canada since then, leaving his Ontario base only occasionally, as he did in 1976 to appear at The Band's farewell concert in San Francisco.
1938- Willie McCovey, Baseball Hall of Fame San Francisco first baseman born in Mobile, AL
1939- actor-singer Sal Mineo was born in New York City. Better known for his acting than his singing, he did manage a top-ten record in 1957, "Start Movin'." On February 12th, 1975, Mineo was found murdered in Los Angeles.
1943- Singer Jim Croce was born in Philadelphia. His narrative songs, such as "Bad Bad Leroy Brown" and "You Don't Mess Around With Jim," were extremely popular in the early '70s. Like Otis Redding, Croce's greatest popularity came after his death. And like Redding, Croce was killed in a plane crash - in 1973. http://www.jimcroce.com/
1945-Erskine Hawkins records “ Tippin' In.” Victor 20-1639
1945-Birthday of singer Rod Stewart, London, England.
1946- on the 26th anniversary of the establishment of the unsuccessful League of Nations, delegates from 51 nations met at London, England, for the first meeting of the UN General Assembly.
1946---Top Hits
Symphony - The Freddy Martin Orchestra (vocal: Clyde Rogers)
It Might as Well Be Spring - The Sammy Kaye Orchestra (vocal: Billy Williams)
I Can't Begin to Tell You - Bing Crosby with the Carmen Cavallaro Orchestra
White Cross on Okinawa - Bob Wills.
1947-U.S. Senate Chaplain Peter Marshall prayed: 'May we resolve, God helping us, to be part of the answer, and not part of the problem.'
1949 - The Radio Corporation of America, known as RCA, announced the new 7-inch, 45 rpm phonograph record. Known familiarly as the 45, the record with the big hole in the middle, the invention would forever change the pop music business. RCA manufactured a record player that would only play 45s, that had a fat spindle to made "stacking wax" easy and automatic.
1949 - Snow was reported at San Diego, CA, for the first and only time since 1882. Snow was noted even on some of the beaches in parts of the Los Angeles metropolitan area. Burbank reported 4.7 inches, and Long Beach and Laguna Beach received one inch of snow.
1952 - Cecil B. DeMille's circus extravaganza, The Greatest Show on Earth, opened in the United States. Starring Betty Hutton, Cornel Wilde, Charlton Heston, and Dorothy Lamour, the film did well at the box office, and won Oscars for Best Picture and Best Writing. Famous clown Emmett Kelly appeared in a cameo.
1954---Top Hits
Oh! My Pa-Pa - Eddie Fisher
Changing Partners - Patti Page
The Gang that Sang ‘Heart of My Heart' - The Four Aces
Bimbo - Jim Reeves
1956 - Elvis Presley made his first recordings as an RCA Victor artist. At sessions in Nashville, Tennessee, Elvis recorded "Heartbreak Hotel", "I Was the One", "I'm Counting On You", "I Got a Woman" and "Money Honey". By April 11, 1956, "Heartbreak Hotel" was #1, staying there for eight weeks. It was #1 on both the pop and rhythm and blues charts, as well at placing fifth on the country music list.
1958- "Great Balls of Fire" by Jerry Lee Lewis became the number-one song in the US. Later in the year, many radio stations began banning his records because of his marriage to his 13-year-old cousin.
1960 - To this date, Marty Robbins' "El Paso", held the record for the longest #1 song. The song was 5 minutes and 19 seconds long, sending radio station Program Directors into fits; because the average length at that time was around 2 minutes. Formats at stations didn't allow for records much longer than that. For example, 2-minute record, 3 minutes for commercials, 60 seconds for promo, 2-minute record, etc. DJs quickly got used to the longer length, realizing it gave them time, to think of what to say next.
1962---Top Hits
The Lion Sleeps Tonight - The Tokens
The Twist - Chubby Checker
Peppermint Twist - Joey Dee & The Starliters
Walk on By - Leroy Van Dyke
1967- the National Educational Television (NET), New York City, interconnected 70 of its 100 independent affiliated educational stations for a live broadcast and analysis of President Lyndon Baines Johnson's State of the Union message. Regularly scheduled noncommercial network broadcasting began on November 5, 1967, with the premiere of the Public Broadcast laboratory over the NET network. Until around this time television news went from 15 minutes to 30 minutes formats. The only long standing news programs were “60 Minutes” and “ Meet the Press.”
1967 -- Lester Garfield Maddox, a restaurant owner and avowed racist with an axe to grind who made national headlines for his opposition to desegregation, is sworn in as governor of Georgia. Maddox, a high school dropout, achieved notoriety in 1964 when he used violence to drive African Americans from his Pickrick Restaurant in Atlanta, Georgia. In defiance of federal civil rights legislation calling for desegregation of restaurants and other public places, he passed out ax handles to white customers at his eatery to prevent its integration. Later in the year, he closed the establishment rather than be forced to serve African Americans.
1968-Aretha Franklin earns her fourth gold single with "Chain of Fools." The record goes on to win the 1968 Grammy for Best R&B Performance by a female.
1969 - Elvis Presley's, "Don't Cry Daddy" entered the pop music charts' Top 10. The song contains a duet with country artist Ronnie Milsap.
1969 - After 147 years in publication, the final issue of "The Saturday Evening Post" was produced, although years later it would return in limited publication. Norman Rockwell's art was popular in the "Post".
1970---Top Hits
Raindrop Keep Fallin' on My Head - B.J. Thomas
Someday We'll Be Together - Diana Ross & The Supremes
I Want You Back - The Jackson 5
Baby, (Baby I Know You're a Lady) - David Houston
1972- the Milwaukee Bucks defeated the Los Angeles Lakers, 120—104, to snap the longest winning streak in major professional sports at 33 games. Milwaukee's Kareem Abdul-Jabbar, later to play for the Lakers, scored 39 points to hand Los Angeles its first loss since Oct 31, 1971.
1975 - The "Storm of the Century" hit Minnesota. A severe blizzard moved northward across the state producing up to two feet of snow. High winds drove wind chill readings to 80 degrees below zero, and at Duluth MN the barometric pressure dipped to 28.55 inches. The storm, which claimed 35 lives, occurred on the 102nd anniversary of the infamous "Pioneer Blizzard" in Minnesota.
1978---Top Hits
How Deep is Your Love - Bee Gees
Baby Come Back - Player
You're in My Heart (The Final Acclaim) - Rod Stewart
Take This Job and Shove It - Johnny Paycheck
1980- composer John Williams succeeded the late Arthur Fiedler as the conductor of the Boston Pops.
1982- San Francisco 49ers wide receiver Dwight Clark jumped high in the Candlestick Park end zone to snare a touchdown pass from Joe Montana as the 49ers defeated the Dallas Cowboys, 28-27, in the NFC championship game. “The Catch,” as the play came to be called, propelled San Francisco to Super Bowl XVI, which they won, 26—2 1, over the Cincinnati Bengals.
1982 -- Cincinnati defeats San Diego 27-7 in the coldest game in NFL history. The temperature at kickoff of the AFC Championship Game is -9, with a wind-chill factor of -59.
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1982 - The temperature at O'Hare Airport in Chicago, IL, plunged to an all-time record of 26 degrees below zero, and high winds drove the wind chill reading to 77 degrees below zero. The temperature in Downtown Chicago reached 23 degrees below zero. A week later a second arctic surge sent the temperature plunging back down to 25 degrees below zero
1984-Cyndi Lauper becomes the first female recording artist since 1967 to be nominated for five Grammy Awards, for her debut album, She's So Unusual . Lauper was nominated for Album of the Year, Best New Artist, Best Pop Vocal Performance (Female), Record of the Year, and Song of the Year. She won the Best New Artist award. Lauper became the first artist in rock history to achieve four Top 10 singles from a debut album, including "Girls Just Want to Have Fun," "She Bop," and her first No. 1 single, "Time After Time."
1986---Top Hits
Say You, Say Me - Lionel Richie
Party All the Time - Eddie Murphy
That's What Friends are For - Dionne & Friends
Morning Desire - Kenny Rogers
1987- Madonna's video about a pregnant teenager, "Papa Don't Preach," won the top award on the first World Music Video Awards. The three-hour program was co-produced by Canada's MuchMusic Network and Europe's Sky Channel. It was telecast live via satellite to five continents.
1989 - The first documented January tornado of record in Utah struck the south part of Sandy. Asphalt shingles were driven one half inch into a fence. (The Weather Channel) Clear skies, light winds, and up to 24 inches of snow cover, allowed the temperature to plunge to 45 degrees below zero at Roseau MN, and to -43 degrees at Warroad MN. The afternoon high at Grand Forks ND was 16 degrees below zero.
1990 - Strong southerly winds ahead of a Pacific cold front helped temperatures in the central U.S. soar as much as 50 degrees during the day. A total of fifty cities in the central U.S. reported record high temperatures for the date, with afternoon highs in the 70s reported as far north as Nebraska and eastern Colorado. Highs of 53 at devils Lake ND, 76 at Grand Island NE, 73 at Lincoln NE, and 73 at North Platte NE, established records for the month of January.
1991- Clint Black became the 66th member of the Grand Ole Opry during the taping of the show's 65th anniversary celebration.
1994- WordPerfect announced it would begin charging for telephone support. Previously, the company had not only provided free support but also picked up the tab for the phone call through a toll-free line. The move reflected the growing battle for revenue in the software business, as lower prices hurt profit margins. It also was a poor business judgment as it drove more users toward Microsoft Word.
1995- "Late Late Show" with Tom Snyder premieres on CBS at 12 30 AM
1995—Top Hits
On Bended Knee- Boyz II Men
Creep- TLC
Another Night- Real McCoy
Always- Bon Jovi
1997- Arnold Palmer, perhaps the most charismatic golfer of all time, was diagnosed with prostate cancer. Palmer underwent surgery at the Mayo Clinic on Jan 15, and on Mar 20 he returned to golf, carding an 81 in the first round of the Bay Hill Invitational. He also became a spokesman for the prevention of prostate cancer.
1997-James Brown, the Godfather of Soul, gets his star on the Hollywood Walk of Fame.
2000 - America Online, “the company that brought the Internet to the masses,” announced that it had agreed to buy Time Warner, the largest traditional media company in the U.S., for $165 billion.
2000—Top Hits
What A Girl Wants-- Christina Aguilera
Smooth- Santana Featuring Rob Thomas
Back At One- Brian McKnight
I Knew I Loved You- Savage Garden
American Football Poem
they came from another land on ships they sailed in
today they are a football team with touchdowns they will win
runnin' onto the football field Daunte Culpepper leading the pack
wearing purple, white, and gold ability and determination they do not lack
the Daunte with his batman eyes randy moss with a panther's speed
cris carter breaking records still I know they'll take the lead
Culpepper is certainly the best, he meets every quarterback test
now leaving the football field with yet another win
to the Super Bowl they will climb this year they are in
Yes, Packer fans got too big for their britches,
How does it feel to be the Vikings new bitches?
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