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Leasing Message Boards
by Kit Menkin
The Eastern Association of Equipment Leasing Message Board is in beta test and should be announced in a day or two. Leasing News has asked its East Coast correspondent Barry Reitman to write a story on it.
The first leasing industry bulletin board was established by The Monitor. After
a controversy and two “illegal” postings, it apparently was decided not to
bring on line again.
Lessors.com was perhaps the next, and it has changed throughout the years
from “members only” to “registration only.” It was not utilized very much.
The National Association of Equipment Leasing Brokers converted their excellent
Listserve into a message bulletin system. At last count, only 1/3 of the membership utilize the communication system, and it appears a “dedicated group” has valued its many sections and division. Many NAELB members have told Leasing News it is a cumbersome system, which was relayed to the people in charge at the time. A study was to be made. The early listserve was more popular.
The United Association of Equipment Leasing has four “discussions message boards” for “members only” in four division: Broker, Funder, Lessor, Services.
There were three in the broker section, May to June 8th, being the most current.
The same June 8th also posted in the Funder. The Lessor had a 4/21 single posting,
and the services had none. Meaning it does not appear many UAEL members use the “discussion message boards.”
The Equipment Leasing Association does not have a “message board, “ but
they have two listserves and two news subscriptions: ELALeaseTalk, ELATaxTalk,E-Leasing Newsletter, and Industry News Weekly newsletter.
The listserve appears to be both very popular and useful for members.
Jeffrey Taylor Sales Training Schedule At A Glance
New York - August 11
Chicago - August 12
San Francisco - August 14
Boston - September 6
San Diego - October 11
**** announcement ************************************************
End Seen to Prolonged Investor Frenzy
Investors' huge appetite for new asset-backed securities may wane in the weeks ahead, as many buysiders try to pace themselves for the rest of the year.
As the intense demand for securitized products abates over the next month or so, issuers of bonds backed by subprime home loans and off-the-run assets will probably have to offer juicier yields to attract investors. That could eventually wipe out the increased values many of them racked up over the last two months.
The recent flood of subprime-mortgage and home-equity-loan deals will probably contribute to the spread-widening trend. "The market's not sated yet, but there's an awful lot of it out there," said Alex Roever, Banc One's securitization-research chief. "The single-As and the triple-Bs are the most vulnerable. [They] will be softer."
The trend could apply to other assets classes as well. Coming off the busiest first half on record, buysiders have already had plenty of opportunities to purchase all the securitized products they need. That gives them little reason to pick up new paper, especially since many of them are still concerned about the sluggish economy. "As they get toward the close of the year and they're ahead of the game, there's an incentive to control the risk," Roever said.
Money-market buyers, which propel much of the demand for new issues, also don't have a lot of new cash to put to work, since returns on their investments have been lower than normal. And many of those who are spending money are paying more attention to the stock market.
But market players shouldn't expect ABS values to fall off a cliff either. "The demand has been white-hot, and now it will be just hot," Roever said.
To be sure, declining values may not be noticeable right away, and the trend might not affect the top asset classes at all. In fact, asset-backed traders said this week's relatively light flow of new offerings prompted an enthusiastic response to the few issuers who did venture into the market.
For instance, buysiders snapped up all of the publicly offered tranches of Option One's home-equity-loan securitization on July 8. Banc of America and RBS Greenwich Capital sold most of the $380 million issue at spreads 5-10 bp tighter than initial price talk. Those spreads were also 3-15 bp narrower than a comparable issue that Option One priced on June 10.
Buysiders also jumped all over Sallie Mae's $2.5 billion student-loan offering, which Credit Suisse First Boston, Morgan Stanley and J.P. Morgan Chase priced on July 9. The transaction's $296 million tranche of three-year, triple-A notes came in at a mere 3 bp over Libor. Its $270 million class of senior one-year notes priced even better, at 1 bp over Libor.
Industry participants were buzzing about the deal because it offered a specific tranche for non-U.S. investors, totaling 750 million euros ($853.9 million). Those top- rated securities priced at 23 bp over swaps. Sallie Mae has been reaching out to European buyers in an effort to widen its investor base.
#### Press Release #########################################
John Deere Credit Implements PDA/Web-Based Inventory Management System Developed by Revoquest, a Division of Quiktrak
LAKE OSWEGO, Ore.---In an effort to expedite data flow and create backroom efficiencies in the inventory auditing process, John Deere Credit has integrated the Revoquest inventory management solution for their entire dealer network in the U.S.
The complete inventory tracking system was developed by Revoquest, a division of the inventory auditing leader, Quiktrak.
Quiktrak has provided auditing services in the field to John Deere Credit since 1994. While field auditing has long been completed manually, Quiktrak has been moving to automate this process with the creation of Revoquest, its technology division. The implementation of this system into John Deere's audit process has streamlined pre-audit scheduling and post audit review. With the Revoquest system, audits can be completed, uploaded, and reviewed within 24 hours.
"The development of an automated inventory verification process was required to improve the integrity of the inventory data that is used by many processes within John Deere," said Mike Mrozowicz, Director Wholesale Financing of John Deere Credit. "Revoquest developed the system that allows for the use of technology tools in the field and real time movement of the information back to the review process."
"It is very satisfying to see an end result that met the needs of our client," said Matt Hennessee, President & CEO of Quiktrak, Inc. "We are a service organization that strives to partner with our customers, and we're always looking to find new solutions that are impactful to their businesses. We've worked closely with John Deere for years, and hope that this new Revoquest integration is yet another enhancement to a long and mutually beneficial relationship."
In the field, Revoquest's inventory auditing system allows the inspectors to utilize PDA's with bar code readers. Real time data links were established to "refresh" the data during the audit. These data links are being further developed to also give inspectors additional work direction based on information obtained during the inspection. During this process, missing units (as well as units reconciled that day) are automatically cleared, saving the auditor and dealer staff time. For John Deere's backroom (which reviews completed audits), the automated data flow system is so efficient that several audit reviewers transitioned to other functions.
About John Deere Credit
John Deere Credit is one of the largest equipment finance companies in the U.S. with more than 2.1 million accounts and a managed asset portfolio of nearly $16 billion. It provides retail, wholesale and lease financing for agricultural, construction and commercial and consumer equipment as well as operating and revolving credit for agricultural inputs and services.
Quiktrak is the leader in providing inspection and inventory auditing services for financial institutions, manufacturers, and leasing firms throughout the U. S., Canada, and internationally. Utilizing a network of over 1500 inspectors worldwide, Quiktrak is able to provide the industry's fastest, most accurate, and reliable service. Founded in 1991, Quiktrak offers services to many of the world's leading financial institutions, including several Fortune 500 companies.
Revoquest, a division of Quiktrak, provides leading-edge technology utilizing PDA's and a web-based interface for the inventory auditing industry. Current products include a mobile workforce auditing application that interfaces PDA's in the field with a web-based host running as an ASP. Revoquest is able to offer tech-only solutions to companies with existing audit staffs, or full-service solutions to companies wanting the technology and the audits conducted by Quiktrak.
For more information on either Quiktrak or Revoquest, please visit them on the web at www.quiktrak.com and www.revoquest.com, or via phone at 800-927-8725 (US)/011.44.208.665.7300 (International).
Shari Soyk, 800-927-8725
### Press Release ###########################################
CVB Financial Corp. Reports Second Quarter Operating Results
ONTARIO, Calif.----CVB Financial Corp. (Nasdaq:CVBF) and its subsidiary, Citizens Business Bank, announced record results for the second quarter of 2003. This included record deposits, record loans, record assets and record earnings. It was the 45th consecutive quarter of record earnings for the company.
CVB Financial Corp. reported net income of $12.5 million for the second quarter ending June 30, 2003. This represents an increase of $900,000, or 7.58%, when compared with the $11.6 million in net income reported for the second quarter of 2002. Diluted earnings per share were $0.28 for the second quarter of 2003.
This is up $0.02, or 7.69%, when compared with earnings per share of $0.26 for the second quarter of 2002. Earnings results for the second quarter of 2003 produced a return on beginning equity of 18.87%, a return on average equity of 18.43% and a return on average assets of 1.48%. The efficiency ratio for the second quarter was 48.23%.
Net income for the six months ending June 30, 2003 was $25.2 million. This represents an increase of $1.3 million, or 5.29%, when compared with net earnings of $24 million for the first half of 2002. Diluted earnings per share were $0.57. This was up $0.03, or 5.56%, from diluted earnings per share of $0.54 for the same period last year.
Net income for the first half of 2003 produced a return on beginning equity of 19.58%, a return on average equity of 18.82% and a return on average assets of 1.57%. The efficiency ratio for the first half was 47.36%.
During the first six months of 2002, the company realized a net gain after taxes of $1.8 million from the sale of securities. This increased earnings from $22.2 million from operations to the $24.0 million total for the six-month period. In the first six months of this year, the net gain after taxes from securities sales was $477,000.
This increased net income from $24.7 million from operations to a total of $25.2 million for the first six months ended June 30, 2003. Net income from operations for the first six months of 2003 of $24.7 million was up $2.5 million, or 11.26%, over the net income from operations for the first six months of 2002 of $22.2 million.
At June 30, 2003, total assets were $3.52 billion. This represents an increase of $656.7 million, or 22.97%, over the $2.86 billion in total assets reported on June 30, 2002. Total deposits rose to $2.41 billion. This is up $295.7 million, or 14.00%, from $2.11 billion last year.
Gross loans and leases grew to $1.50 billion as of June 30, 2003. This is an increase of $238.5 million, or 18.85%, from $1.27 billion in gross loans and leases on June 30, 2002. The Wealth Management Group has approximately $1 billion in assets under administration.
CVB Financial Corp reported non-performing assets of $1.1 million as of June 30, 2003. This represents a ratio of non-performing assets to total assets of 0.03%, and it represents 0.07% of gross loans and leases. The allowance for loan and lease losses was $20.8 million as of June 30, 2003. This represents 1.38% of gross loans and leases, and it compares with 1.88% on June 30, 2002. Non-performing loans and leases were 5.41% of the allowance for loan and lease losses.
Citizens Business Bank is the largest financial institution with headquarters in the Inland Empire Region of Southern California. It serves 26 cities with 33 business financial centers in the Inland Empire, Los Angeles County, Orange County and the Central Valley areas of California. It's subsidiary, Golden West Financial Services, provides vehicle leasing, equipment leasing and real estate loan services. Shares of CVB Financial Corp. common stock are listed on the Nasdaq under the ticker symbol of CVBF.
CVB Financial Corp., Ontario
D. Linn Wiley, 909-980-4030
### Press Release ###########################################
Decision Systems for Sale—Up-Date
Latest posting at Press Time:
Robert W. Baird Limited (Summit National?)
Date of disclosure
17th July 2003
Name of offeree/offeror with whom connected
IDS Group PLC
Total number of securities purchased
Highest price paid*
Lowest price paid*
Total number of securities sold
Highest price received*
Lowest price received*
Universities Superannuation Scheme
15 July 2003
Date of Disclosure 15 JULY 2003
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 10 JULY 2003
Dealing in I D S GROUP (name of company)
1) Class of securities (eg ordinary shares) ORDINARY 10P SHARES
2) Amount bought Amount sold Price per unit
3) Resultant total of the same class owned or controlled
(and percentage of class) 0 (0%)
4) Party making disclosure UNIVERSITIES SUPERANNUATION SCHEME LIMITED
Here is address of all postings:
U.S. Auto ABS Issuance Volume Expected to Decline by 15% in 2003 Publication date:
Joseph F Sheridan, New York (1) 212-438-2605; Michael Binz, New York (1) 212-438-2401; Amy S Martin, New York (1) 212-438-2538
NEW YORK (Standard & Poor's) July 14, 2003--Standard & Poor's Ratings
Services expects total issuance volume of U.S. auto loan asset-backed
securities (ABS), from public and private transactions, to decline by 15%
to roughly $85 billion in 2003, compared with $98.5 billion in 2002. This
expectation is largely attributed to the use of other financing sources by
Big Three captive finance subsidiaries, a drop in auto unit sales, lower
origination volumes, and financial constraints on auto finance companies,
which force some of those companies to conserve much needed liquidity and
"Some top issuers of auto ABS have been absent from the market in 2003,"
said credit analyst Joseph Sheridan, a managing director in Standard &
Poor's Structured Finance Ratings group. The two most notable absentees
this year have been DaimlerChrysler AG and Mitsubishi Motors Credit of
America Inc. (MMCA). DaimlerChrysler has yet to close a term transaction
in 2003. The company has been funding its 2003 loan contract volume
through its new single-seller CP conduit, as well as in the unsecured
corporate bond market where its pricing has recently improved. Following
deterioration in the performance of several of its outstanding
transactions, MMCA has not tapped the market this year. Standard & Poor's
placed various classes of MMCA auto loan-backed securities on CreditWatch
with negative implications in February. On June 9, 2003, Standard & Poor's
lowered its ratings on various classes of MMCA Auto Owner Trust's series
2001-3, 2001-4, 2002-1, and 2002-2, the first time an investment-grade
auto loan transaction was downgraded based on collateral performance.
"While Ford Credit continues to be the most active player in the
market, its issuance is down by approximately $1.2 billion compared with
last year," said credit analyst Amy Martin, a director in Standard &
Poor's Structured Finance Ratings group. "Additionally, its $22 billion in
issuance in 2002 will not be matched in 2003 because sales are down and
Ford is curtailing its origination of used-car loans and loans for
non-Ford vehicles to focus on its core business and to improve overall
losses," said Ms. Martin. AmeriCredit Corp.'s issuance is also down
markedly from last year as it has scaled back its origination volume to
As the traditional big issuers in the auto ABS market seem to be slowing
down, two new entrants have emerged: Volkswagen and Credit Acceptance
Corp. (CAC), Southfield, Mich. VW Credit Inc. (Auburn Hills, Mich.) will
be closing its first retail auto loan ABS transaction this month since
1988. Its recent transaction is a high-quality prime paper deal valued at
$1.3 billion. CAC's $100 million transaction is subprime.
"Performance in the auto ABS market remains weak, as reflected by the
continued increase in losses, and the outlook remains worrisome,"
explained Ms. Martin. The unemployment rate grew to 6.4% in June, up from
5.8% a year earlier and unemployment claims have been above 400,000 for 20
consecutive weeks. Further, there were more bankruptcies during the first
quarter of 2003 than during any other quarter.
Other trends affecting performance include lower used car recovery rates
and the movement toward longer-term loans. "Recoveries have declined
significantly, from about 50% of the outstanding loan amount a couple of
years ago to about 40% today," said credit analyst Michael Binz, a
director in Standard & Poor's Structured Finance Ratings group. "We do not
see any improvement on the horizon because of the continued heavy
incentive activity on new vehicles." Longer-term loans, such as 72-month
loans, have also affected performance, as the severity of loss is
generally higher on these loans than on 60-month loans because of the
slower amortization of the loan balance.
Overall, 2003 will continue to be a challenging year in the auto loan
market: Vehicle sales are expected to decline to 16 million units from
last year's 16.8 million; the employment market will remain weak;
bankruptcies will remain high; and no significant improvement is seen in
used car values. "Despite these factors," explained Mr. Binz, "some
companies, like Onyx Acceptance Corp. and Chase Manhattan Bank, have
successfully tightened their underwriting standards and are reporting
lower delinquencies and losses in 2003 compared with 2002."
#### Press Release ########################################
M & C Leasing Co. and Gateway Partnered to Offer Lease Financing
M & C Leasing Co., Inc., a 50-year old national equipment leasing company based in Buffalo, New York, has partnered with Gateway, Inc., to provide lease financing of Gateway products to customers interested in purchasing
computer products for their growing businesses.
M & C Leasing Co. provides financing from $1,000 to $1,000,000, on
virtually any equipment a business needs to operate. This new partnership
will allow M & C Leasing to offer customers an affordable lease financing
plan when selecting computer products for their businesses.
1050 Union Road, Suite 2 * West Seneca, New York 14224 * (716) 873-1002 *
Fax (716) 873-1002 * (800) 416-9080
Contact: Patrick Gallo
Sales Consultant, M & C Leasing
(716) 873-6800, (800) 416-9080
### Press Release #########################################
Letters---We get eMail---
Matsco was thrown out of PATTERSON DENTAL due to
horrendous customer service (HELLO DOES ANYBODY EVER
ANSWER THE PHONE THERE???)!!! HPSC is now the Number
2 dog at PATTERSON with BofA being number one!!
PLEASE KEEP MY NAME CONFIDENTIAL!!
(Name With Held )
Good morning Kit. The exodus at BancPartners seems to be continuing. I
heard Sunday morning that Mark Waters, CFO had left the company recently.
Also, recently I ran into one of their "leasing specialist" and was told the
company had definitely downsized in personnel. Whatever that means.
Hope your day goes well. Good Business!!
(Name With Held)
(Mr. Hawkins has recently inquired about placing a help wanted ad, and it appears
his company is growing, not “retreating.” I have asked him several
times how business was doing, and he has always been very positive,
quite the contrary than expressed in this e-mail. editor)
If you have any knowledge or information about Wasco Funding Corp. New York,
NY I would appreciate it. Nothing urgent just looking at them as possible
Equipment Leasing Options
(Could find no web site, and the good news is there is no negative ( or record) in
the Better Business Bureau, but the best sign is they belong to a leasing association: Equipment Leasing Association:)
WASCO CAPITAL SERVICES, LLC Type of Business: Independent
55 Harristown Road Annual Sales: 0-20 Million
Glen Rock, NJ 07452 Geographic Areas: Regional
Phone: (845) 353-0219
Markets Small-to-Middle Ticket ($25 000-$250,000)
ELA Activity ELA Member Since October 2002
Ruth hit 60 round-trippers in 1927, not 1922. With your grasp of historical data, I'm sure that was just a typo.
And no, please don't publish this email. thanks
(name with held )
(1920-In his first season with the New York Yankees, Babe Ruth hit his 30th home run to break his own record set in 1919 as a member of the Boston Red Sox. Ruth finished the year with 54 home runs. He hit 59 in 1921 and 60 in 1927.)
Name = Dan
Address = Volungis
City = Cohasset
State = MA
Zipcode = 02025
Phone = 781-383-8876
Fax = 781-383-8875
Email = email@example.com
Comments or Questions= Re: This day in history for 1970: John F. Kennedy, he was assassinated in 1963, maybe the date
should read 1960?
I am sure that this is not the first email sent to you regarding today's newsletter, but in 1970 JFK was dead seven years, and thus
could not have appointed a woman general. Also, the Baker Eddy home is a mansion in Chestnut Hill, MA, and is open to the public.
Regards from Boston,
Avalon Leasing, Inc.
David Meltzer, Pres.
132 Adams Street, Suite 1
Newton, MA 02458
(Yes, received several. In fact, this mistake was to have been correct in the prior year, when it was first discovered. The source book I took the information had
President John Fitzgerald Kennedy, and perhaps I ,too, should have caught
that. One of the reasons I have been getting footnotes to verify this
information is by finding the person on the web. In doing that, the date
was also incorrect, it was 1973; Richard M. Nixon was president.
typo on CIT - founded in 1908, not 1980
(We will correct the typo in the “on line” edition at www.leasingnews.org.
For readers who are not aware, the news is also posted and archived on
our website.editor )
As editor and publisher, I was quite surprised at the lack of response to the three part series on RW Professional: “Take the Money and Run.” I originally thought
it was overlooked because the articles were not mentioned in the “headlines,”
but as a special at the bottom of the headlines, so this week, there were
in the headlines, like today. The “Day in History” and other “typo’s” are
seen, and corrected, appreciate it, but the lawsuits, arrests, and alleged
fraud seems to be “ho-hum.”
Greenspan Sees Danger In Deficits
Chief of Citigroup Says He'll Step Down at Year's End
Mortgage Requests Up
PC Sales Grow at Highest Rate Since 2000
American Airline Slashes Operations in St. Louis/No Hub Now
Harley-Davidson has best sales quarter in 100 year
1. LIVING HISTORY / CLINTON Week: 55,330 YTD: 835,864
2. KATE REMEMBERED / BERG Week: 44,377 YTD: 44,380
3. BENJAMIN FRANKLIN / ISAACSON Week: 42,945 YTD: 72,207
4. TREASON / COULTER Week: 37,533 YTD: 153,166
Raiders boss told of sales before move
TILLMANS HONORED FOR MOVE FROM SPORTS TO ARMY
This Day in American History
1763-birthday of John Jacob Astor, Germany, fur trader become banker,
at one time, the richest man in US.
1744-Gerry Elbridge, Fifth vice president of the US (1813—14), born at Marblehead, MA. He was a well-known “gadfly” and signer of the Declaration of Independence. His name became part of the language (gerrymander) after he signed a redistricting bill favoring his party while governor of Massachusetts in 1812. http://www.elbridgegerry.com/ http://bioguide.congress.gov/scripts/biodisplay.pl?index=G http://odur.let.rug.nl/~usa/B/gerry/gerry.htm 000139
African Church of St Thomas in Philadelphia, dedicated http://www.pbs.org/wgbh/aia/part3/3h471.html
1854—King’s College opened in New York City. It later changed its name
to Columbia University ( lower half of: http://memory.loc.gov/ammem/today/jul17.html
1861- Congress authorizes paper money. the notes were $5( Hamilton), $10 (Lincoln), and $20 (Liberty.) They were called “demand notes” because they were payable on demand at certain designated subtreasuries. There were not legal tender when first issued but were made so by the act of March 17,1862.
1862-Senator Henry Wilson of Massachusetts introduced and Congress passed the military act to authorized military service by African-Americans. President
Abraham Lincoln signed it. The act empowered the president to accept “persons of African descent for the purpose of constructing entrenchments or performing camp competent. There was debate on blacks serving in the military, primarily from
states who had seceded from the Union. There was a contingency of African-Americans
who originally were going to fight on the side of the Confederates, primarily thought
to protect their homes, property, and family. The government of the Confederate States refused to accept blacks into the Confederate army, whether “free man” or
“slaves”, plus issued declaration of forfeiture to those who joined the Union army.
1863- Battle of Honey Springs, largest battle of war in Indian Territory http://www2.cr.nps.gov/abpp/battles/ok007.htm
1864 –Confederate States of America President Davis replaces Gen Joseph Johnston with John Bell Hood, against the recommendation of General Robert E. Lee. Johnston was Lee’s roommate at West Point. Hood was more allied to Davis, and a very find general, but the chain of command was disrupted and Hood found himself without the confidence of the higher military command. September 1, Hood evacuates Atlanta, Ga. The next day the city was occupied by Union forces under Gen. William Tecumseh Sherman. November 15, General Sherman’s march to the sea with 62,000 men began, leaving Atlanta, GA., in flames and sweeping across a 60-mile front with little serious opposition, Sherman’s army destroys everything useful to the Confederates and ravages the countryside, and marches to Savannah. The appointment of Butler became one of the major mistakes of Jefferson Davis, who often acted alone in making major military decisions, as he was first a “politician.”
1867 - Harvard School of Dental Medicine was established in Boston, MA. It was the first dental school in America.
1867- Linda Anne Eastman birthday- U.S. librarian. LE developed the children's rooms at the Cleveland Public Library, developed library extensions in hospitals, developed a Braille collection. In 1918 she became the first woman to head a metropolitan library system, that, under her tutelage became one of the largest and most complete library systems in the United States, its collection grew from 57,000 volumes to more than 2,000,000.
1888- Erle Stanley Gardner ( yes, Erle )American author of detective fiction, born at Maiden, MA. Best remembered for his series about lawyer-detective Perry Mason, Gardner also wrote novels under the pen name A.A. Fair.
1891- Anna Moscowitz Koss birthday - social-minded U.S. judge who devoted much of her private life to working for improving the services for women, juveniles, and children
1898-Birthday of Berenice (sic.) Abbott, born at Springfield, OH, and went on to become a pioneer of American photography. She is best remembered for her black and white photography of New York City in the 1930’s, many of which appeared in the book Changing New York. After published his collection, she began photographing scientific experiments that illustrated the laws and processes of physics. She died at Monson, ME, December 11,1991. . Her work was once described by an art critic as "...a chess game between light and shadow." Her portraits are among the most outstanding ever done, although she is best known for her studies of New York city.
1920 - Sinclair Lewis finished the now-famous novel, "Main Street".
1921-birthday of guitarist Mary Osborne, Minot, ND
1925-birthday of singer Jimmy Little Scott, Cleveland, OH
1926-birthday of trumpet player Ray Copeland, Norfolk, VA
1928-birthday of drummer Joe Morello , Springfield MA
1928--pianistVince Guaraldi birthday
1933-birthday of drummer Ben Riley, Savannah, GA
1936- General Francisco Franco led an uprising of army troops based in North Africa against the elected government of the Spanish Republic. Spain was quickly divided into a Nationalist and a Republican zone. Franco’s Nationalists drew support from Fascist Italy and Nazi Germany. Many saw this as a war to follow in Europe later. The USA had their foreign policy as “Me First.” Ernest Hemingway is best known as a correspondent covering this war and for his short stories and novel, “For Whom the Bell Tolls.” On Apr 1,1939, the Nationalists won a complete victory when they entered Madrid. Franco ruled as dictator in Spain until his death in 1975. http://memory.loc.gov/ammem/today/jul17.html
1933- Dr. Albert Ernest Forsythe of Atlantic City, NJ, became the first African-Americans to make a transcontinental flight ( made by African-American Charles Alfred Anderson of Bryn Mawr, PA. ) He left Atlantic City on July 17 at 2:49am and arrived at Los Angeles, CA, on July 19 at 5:30pm.
1938-Douglas Grace Corrigan, an unemployed airplane mechanic, left Brooklyn, NY’s Floyd Bennet field, ostensibly headed for Los Angeles, CA, in a 1929 Curtis Robin monoplane. He landed 28 hours, 13 minutes later at Dublin, Ireland’s Baldonnel airport, after a 3,150 mill nonstop flight without radio or special navigation equipment and in violation of American and Irish flight regulations. Born at Galveston, Texas, January 22,19-7. Corrigan received a hero’s welcome home; he was nicknamed “ Wrong Way” Corrigan because he claimed he accidentally followed the wrong end of his compass needle. Died at New York, NY December 9, 1995.
1939-Charlie Barnet Band records “Cherokee” ( Bluebird 10373)
1941-birthday of Daryle Lamonica Oakland Raider QB (AFL leading passer 1967)
Bewitched - The Gordon Jenkins Orchestra (vocal: Mary Lou Williams)
My Foolish Heart - The Gordon Jenkins Orchestra (vocal: Eileen Wilson)
Mona Lisa - Nat King Cole
Mississippi - Red Foley
1952-Goerge Shearing Quintet records “Lullaby of Birdland” MGM 11354)
1953-The first Navy ace in Korea was Lieutenant Guy Bordelon, who achieved his fifth victory in a World-War-II-vintage propeller-driven F-4U Corsair. He was awarded the Navy Cross
1954- the First Newport Jazz Festival. The 1956 movie “High Society” made this become a worldwide event each year.
1954 –The first major league baseball game in which the majority of the players on one team were African-American was played between the Brooklyn Dodgers and the Milwaukee Braves at Milwaukee, WI. the Braves won 6-to-1. The black players on the Brooklyn team were Donald N. Newcombe, pitcher; Roy Campanella, catcher; James William Gilliam, second base; Jackie Robinson, third base, and Edmundo Isasi Amoros, left field.
1955- Disneyland, America’s first theme park, opened at Anaheim. I remember visited it in 1956 and playing Dixieland at the frontier saloon, and watching it grow into an international attraction and destination site. Many did not know that Walt Disney had an apartment there and supervised all during the week. He would stay some weekends, and since the saloon originally did not serve anything alcoholic, he would attend some Dixieland sets with his famous paper cup.
The Purple People Eater - Sheb Wooley
Hard Headed Woman - Elvis Presley
Poor Little Fool - Ricky Nelson
Guess Things Happen that Way - Johnny Cash
1960-birthday of Scott Norwood NFL kicker (Buffalo Bills-Superbowl XXV goat)
1961- Roger Maris loses a HR (of his 61) due to a rain-out . Ford Frick rules that if anyone breaks Babe Ruth 60 HR record, it must be done in 1st 154 games
1966- Jim Ryun sets mile record (3m51s3)
Hanky Panky - Tommy James & The Shondells
Wild Thing - The Troggs
You Don’t Have to Say You Love Me - Dusty Springfield
Think of Me - Buck Owens
1974-Bob Gibson of the St. Louis Cardinals struck out Cesar Geronimo of the Cincinnati reds to become the second pitcher in baseball history, after Walter Johnson, to strike out 3,000 batters. Gibson pitched in the major leagues from 1959 through 1975 and finished with 3, 117 strikeouts.
Rock Your Baby - George McCrae
Annie’s Song - John Denver
On and On - Gladys Knight & The Pips
He Thinks I Still Care - Anne Murray
1978-Pitcher George “Doc” Medich of the Texas Rangers saved the life of a fan suffering a heart attack before a game in Baltimore gains the Orioles. Medich, a medical student, administered cardiac first aid until additional help arrived.
1966- Jim Ryun sets mile record (3m51s3)
1980- Ronald Reagan formally accepts Republican nomination for president. George Bush of Texas, former ambassador to the UN and former director of the CIA, was nominated for the vice-presidency. The Democratic National
Convention in August then President Jimmy Carter and vice-president Walter
Mondale for vice-president. Carter defeated Sen. Edward M. Kennedy of Massachusetts by a margin of nearly two to one. In November, Reagan gets 489 electoral votes to President Carter’s 49, carrying 44 states with a popular vote of 42,797,153 to 34,434,100 with John Anderson, an independent candidate picking up 5,533,927.epublicans picked up 12 Senate seats for a 54-46 majority, one independent. In the House, the Democrats lost 33 seats but kept a majority of 242-192, one seat independent.
1981-About 1,5000 people were attending the popular weekly tea dance at the Hyatt Regency Hotel at Kansas City, MO,, when, about 9pm, two concrete and steel skywalks that were suspended from the ceiling of the hotel’s atrium broke loose and fell on guests in the crowded lobby, killing 114 people. In 1986, a state board revoked the licenses of two engineers convicted of gross negligence for their part in designing the hotel.
Don’t You Want Me - The Human League
Rosanna - Toto
Hurts So Good - John Cougar
’Till You’re Gone - Barbara Mandrell
1985 - The nation’s second largest banking company, Bank of America of San Francisco, CA, reported a second-quarter loss of $338 million.
1986 - The largest bankruptcy filing in U.S. history took place as LTV Corporation asked for court protection from more than 20,000 creditors. LTV Corp. had debts in excess of $4 billion.
1990-the Minnesota Twins became the first team in major league history to record two triple plays in the same game when they turned the trick against the Boston Red Sox. But the Red Sox won, 1-0.
Step By Step - New Kids on the Block
She ain’t Worth It - Glenn Medeiros featuring Bobby Brown
Hold On - En Vogue
The Dance - Garth Brooks
1995-Netscape announced its Secure Sockets Layer (SSL) security product, designed to encourage Internet shopping, on this day in 1995. The company said the technology could conceal customers' credit card numbers from Internet merchants and hackers. At the time, the theft of credit card numbers on the Internet was costing merchants $100 million a year, Netscape officials said. The race to create security standards in the mid-1990s was followed by the explosion of Internet shopping's popularity in 1998 and 1999.
1996 - TWA (Trans World Airlines) flight 800, carrying 230 people, including four cockpit crew members and 14 flight attendants, exploded, falling into the Atlantic Ocean off the coast of Long Island, New York. The Boeing 747 had lifted off from New York’s John F. Kennedy Airport at 8:19 p.m. bound for Paris, France. The explosion happened about 26 minutes later, some 40 miles east of New York, as the plane was climbing through 13,800 feet. The victims included celebrities in sports, entertainment and the arts, business people, and vacationers. Possibly the most poignant were the deaths of sixteen teen-agers, all students from the Montoursville, PA high school French club, and their five chaperones. There are several theories as to the cause of the explosion. Some believe that the airliner was sabotaged and destroyed by a bomb planted on board. Others swore they knew the plane had been struck by a U.S. missile. But, after a 16-month probe, the FBI announced it had found no evidence of a criminal act or stray (or otherwise) missile. It has concluded that the crash was caused by electrical arcing in the plane’s center fuel tank igniting fuel vapors.
1997-The Georgia O’Keefe Museum, opened in Santa Fe, NM. It housed major works by O’Keefe, whose paintings of desert scenes and flowers made her the best-known 210th-century artist of the American Southwest. It was the first art museum of importance devoted to the work of an individual woman. The museum, which contained 116 paints and one sculpture, was housed in a sprawling adobe building renovated and expanded by architect Richard Gluckman. Peter H. Hassrick was the first director.