This Border ##### Denotes Press Release (Not Written By Leasing News)
Nationwide Funding Seeks Leasing Processor
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MicroFinancial/Leasecomm $2.7 Million Loss 2nd Q
WOBURN, Mass.----MicroFinancial Incorporated (NYSE-MFI), a leader in Microticket leasing and finance, announced today its financial results for the second quarter and the six months ended June 30, 2003.
Second quarter revenue for the period ended June 30, 2003, was $24.0 million compared to $33.0 million for the same period last year. The reduction in revenues is directly related to the Company's decision in October 2002 to cease funding new originations as a result of its Lenders' decision not to renew the revolving credit facility on September 30, 2002.
The net loss for the quarter was $3.7 million, or ($0.29) per diluted share as compared with net income of $2.0 million or $0.15 per diluted share in the prior year's second quarter. The decline in net income for the quarter is primarily the result of a 39.2% decline in lease and loan revenues to $8.4 million, a 46.3% decline in service fee and other revenues to $3.2 million, and a 40.9% increase in the provision for credit losses to $15.2 million as compared with the second quarter ended June 30, 2002. The additional provision for credit losses was required to maintain the Company's reserve policy requirement, which the Company continues to believe is appropriate.
Total operating expenses for the quarter, before the provision for credit losses, declined approximately 21% to $14.9 million as compared to the same period in 2002. Interest expense declined 18.1% to $2.1 million as a result of lower debt balances of approximately $71.5 million offset by an increase in the Company's average interest rates of 139 basis points. Selling, general and administrative expenses decreased 23.7% to $8.7 million for the second quarter ended June 30, 2003, versus $11.4 million for the same period last year. The decrease was attributable to reductions in personnel related expenses of approximately $1.2 million, a $1 million reduction in cost of goods sold, and a $0.4 million reduction in collection related expenses. The provision for credit losses increased to $15.2 million for the quarter ended June 30, 2003 from $10.8 million for the same period last year, while net charge offs increased to $22.4 million. Past due balances greater than 31 days delinquent at June 30, 2003 decreased to 23.0% from 24.3% last quarter. Exclusive of a federal tax refund in excess of $11 million, net cash provided by operating activities for the quarter decreased 20.1% to $20.5 million compared to $25.7 million for the previous quarter. The Company repaid debt of $35.0 million on its senior credit facility and securitizations during the quarter.
Richard Latour, President and Chief Executive Officer stated, "I am pleased that the collections from our existing portfolio remained strong in the second quarter. The Company's ongoing strategy of driving down expenses while maximizing collections continued."
The Company remains in full compliance with the terms and conditions of its securitizations and senior credit facility. The Company operates within all delinquency and charge-off covenants and has made or exceeded all scheduled payments on these debt instruments in a timely manner. During the quarter, MicroFinancial's successful collections efforts allowed the Company to reduce its bank debt by $26.1 million to $88.9 million.
Year to date revenues for the period ended June 30, 2003 decreased 27.4% to $49.5 million compared to $68.2 million during the same period in 2002. The reduction in revenues is directly related to the Company's decision to cease funding new originations since October 2002 as a result of its Lenders' decision not to renew the revolving credit facility on September 30, 2002.
The net loss year to date ending June 30, 2003 was $4.5 million versus net income of $5.2 million for the same period last year. Earnings per share year to date were ($0.35) on 12,917,752 shares.
Total operating expenses for the six months ended June 30, 2003 were $57.0 million compared to $59.6 million in 2002. Interest expense declined 11.0% to $4.8 million as a result of lower average debt balances of approximately $58.2 million. Selling, general and administrative expenses decreased 25.6% to $17.8 million for the six months ended June 30, 2003 versus $24.0 million for the same period last year. The decrease was driven by a reduction in personnel related expenses of approximately $2.9 million, a $1.6 million reduction in cost of goods sold, and a reduction in collection related expenses of $1.3 million. The Company's headcount at June 30, 2003 was 159, down from 356 from the same period last year while depreciation and amortization decreased 1.6% to $8.4 million compared to $8.5 million in 2002. The provision for credit losses increased 19.6% to $26.0 million for the six months ended June 30, 2003 from $21.8 million for the same period last year. Year to date net charge-offs increased to $36.2 million and the Company repaid debt balances on its senior credit facility and securitizations of $58.7 million for the six months ended June 30, 2003.
MicroFinancial Incorporated continues to operate without the use of gain on sale accounting treatment and a balance sheet with total liabilities less subordinated debt to total equity plus subordinated debt of 1.7 to 1.
Mr. Latour concluded, "MicroFinancial's capital structure and cash flow remain strong. We continue to seek various financing, restructuring and strategic alternatives that will enable the Company to reenter the financing market."
Richard F. Latour, 781-994-4800
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Capital Stream, (6/03) Raises money for acquisitions, first move is to buy Decision Systems International American operation. (1/2003)John Kruse has left the building. (10/2002) Corporate take-over by Wired Capital, complete new management team and officers, John Kruse now "salesman." For a full story click here (3/2002) Steve Campbell Resigns as CEO, (8/2001) John Kruse, VP, Account Development, announces another reduction of staff as "... precautionary measures because we don't see an immediate resolution to the economic downturn. We still remain financially healthy, and believe that reducing our capacity is a prudent business decision." Hal Hayden, Jim Buckles, Randy Anderson, many sales people gone.
Microfinancial/Leasecomm (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.
Matsco Financial (5/2003) Reliable sources report commercial and broker division shut down, people let go, company to work solely on captive vendor, dentistry, veterinarian, 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 (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. " firstname.lastname@example.org
The full list is available in chronological and alphabetical form at:
Greater Bay Bank Financial Announcement at 8am Today California time
Replay of announcement along with questions and answers will be available
on the website and audio. Please go here for full story and directions:
Eastern Association of Equipment Leasing Luncheon
EAEL's New York Chapter Networking Luncheon was held July 22, 2003 at
the Garden City Country Club in Garden City, NY hosted by Robert
Goeller, Sierra Credit Corp. Along with yours truly ( Steve Geller, filling in for the
intrepid reporter who is twelve minutes past of the Red Apple Rest and
preoccupied with serious computer problems), the following companies and
individuals were represented: All Points Capital Corporation: Anthony
Perettine, Walter Rabin, Kathy Flaherty, W. Kerry Mach; Bank of the
West: Omar Diaz; CDS Leasing Solutions: Leonard Leff; DLC Commercial
Corporation: Diane Schueller, Karen Malamud; Gateway Funding, Inc:
Charles Salit; ICON Capital: Mark Hilton, Sean Hoel; John Stockwell
Finance Corporation: David Morse; M&T Credit Corporation: Jamie Kurisko,
Keith Kiendle, Tiffany Clark; Macrolease International Corporation:
Daniel West, Jerry Ennella; Nassau Asset Management, Robert Malichio;
Parimist Funding Corporation: Paul Eidelkind, Howard Lebowitz; RER
Leasing Corp: Raymond Cole; SCG Capital Corp: Sam Goichman; Sierra
Credit Corp: Robert Goeller; U S Bancorp: Ed Piszko; U.S. Bancorp
Manifest Funding Services: Kennedy Gilbertson, GE Capital: Tom Creal;
Sterling National Bank: Bob Ingram, as well as Marc Hamroff, Esq., legal
counsel to the stars. I apologize for those names that I may have
A short presentation was made by five of the lenders, whose
common theme was one of the need for a partnership between brokers and
funders and a good understanding of the funders credit requirements and
its credit box. Little deviation is occurring from that box, unless
there is a very sound reason to do so.
We concluded with a short presentation of the new EAEL Message Board, and those interested EAEL members should contact Alison Pryor at the EAEL office, myself or Barry Reitman (Leasing News cub reporter—He asked me for a press
pass for his dog. editor )
Steven B. Geller, CLP
Leasing Solutions LLC
20 Dike Drive, Wesley Hills, New York 10952
(845) 362-6106 fax (845) 354-2803
cell (914) 552-0842
Looking for a “correspondent” to cover the Mid-America Association of
Equipment Leasing Golf Tournament. Must understand handicaps and be
a good listener.
### Press Release ###########################################
Fitch Formal Launch New Ratings for Banks
Fitch Ratings-London/New York- Fitch Ratings, the international rating agency, has formally launched its new Support ratings for all 1,264 banks to which it ascribes such ratings. The new ratings have been assigned in accordance with April's announcement of the new bank Support rating methodology. Fitch remains the global market leader in bank ratings, and its Support ratings are unique to the industry. They are the agency's assessment of the probability of external support being provided - by either a sovereign state or an institutional owner - should a bank be in imminent danger of defaulting.
Essentially, there are two components to this assessment. First, the potential supporter's ability to provide support is measured in terms of its own Fitch Long- term debt rating. Second, its willingness to provide support is assessed on the basis of a number of criteria, including systemic importance, and, in the case of institutional support, strategic significance and potential reputation risk. An important feature of the new Support ratings is that they are explicitly linked to the familiar Long-term debt ratings by means of rating "floors", e.g. the Long-term debt rating of a bank, whose Support rating is '1', should not fall below 'A-' (A minus). As before, the assessment of the intrinsic stand-alone credit quality of a bank is indicated by Fitch's Individual ratings, first introduced to the market in 1980.
Fitch has today posted to its website a list of banks, showing their Support ratings under both the new and the previous methodologies. This is available free of charge on www.fitchratings.com by selecting 'Sectors'/'Banks and Securities Firms'/'New Support Ratings List'.
In making today's announcement, Gerry Rawcliffe, a managing director within the Financial Institutions group, commented that "Fitch's track record in analyzing bank support is very strong. The new methodology builds on that. It enhances transparency, and, by means of explicit Long-term rating floors, adds value, in particular to the capital markets, which will now have a clear opinion on the scale of the down-side risk they face." It should be stressed that, although the old and the new ratings are designated in terms of the same numeric scale (1-5), the new Support ratings are based on a revised methodology and new rating definitions. It is, therefore, incorrect to refer to Support ratings having been raised or lowered as a result of this process, and a movement from one category to another does not imply a shift in Fitch's fundamental view of the likelihood of support for any given bank nor of its actual creditworthiness. Thus, the introduction of the new methodology has not resulted in changes to our Long- and Short-term debt ratings of banks.
A criteria report backing today's announcement, which includes the new rating definitions, is also available on www.fitchratings.com by selecting 'Sectors'/'Banks and Securities Firms'/'Criteria Reports'. The report also includes an analysis of the migration from the old ratings to the new.
Fitch Ratings' Individual and Support ratings are assigned to banks that are legal entities. The agency notes that the term "banks" includes bank holding companies and bancassurance holding companies, bancassurance companies operating as single legal entities, investment banks and private banks. These ratings are not assigned to insurance companies even if these form part of a bancassurance group. Individuals and families who own banks are not taken into account in Fitch's Support ratings criteria. It is the agency's opinion that their motivation is likely to be ruled by sentiment and the instinct of self-preservation and therefore their propensity to provide support is impossible to predict. Further, their ability to support cannot usually be assessed. Thus, unless there is a possibility of support from the state, banks with such ownership are assigned the lowest Support rating.
Contact: David Andrews, London, Tel: +44(0)20 7417 4302 Gerry Rawcliffe, London, Tel: +44(0)20 7862 4019 Fred Puorro, New York, Tel: +1 212 908 0356
### Press Release ##############################################
Sacramento, California Area Broker's Meeting Tomorrow
Several lease brokers have expressed a desire to meet with other
local brokers from time to time. We have planned a meeting for the
Sacramento Area Lease Brokers for Thursday July 24. The purpose of this
meeting is to give you and other brokers an opportunity to meet and talk
about our industry, funding sources, and other topics of interest.
It will be held at the Sheepherder Inn located at 11275 Folsom
Boulevard in Rancho Cordova (near the intersection of Highway 50 and Sunrise
Boulevard). The meeting will begin with no host cocktails around 6:30.
Dinner will be served around 7:00. The cost is $35.00 per person. Documentation/Operations-Irvine,CA. Nationwide Funding, LLC, an estab. Chicago based lessor looking for experienced processors to help staff our new Irvine office. Duties include generation of lease documentation, acquiring credit
Cary Boyden, of the law firm Boyden, Cooluris, Livingston & Saxe is
the featured speaker. His specialty is leasing law and he will talk about
the California Finance Lenders License. This topic has generated a lot of
discussion among brokers. Several articles relating to this topic have
appeared in LeasingNews mostly as a result of CMC's demise.
Three NAELB Conferences , including April 29,2004 Las Vegas
“I thought I would give you a heads up on the up coming NAELB Summer
Board of Directors meeting. Every year we meet for a weekend in the summer at the facility where we will be holding our next Annual
Conference. The 2004 conference will be at the Alexis Park Hotel in Las
Vegas April 29-May 1. This is an all suite hotel and we have negotiated
very reasonable rates. The decision to have it in Las Vegas reflects
how universal our membership has become, as we now have as many West
Coast members as we do in the Southeast (see survey information below).
“This year we've added an extra day to allow Cal Clemons, owner of our
management company, to give us the benefit of his three decades of
Association Management expertise by conducting a strategic planning
session. This was the idea of our former President Gerry Egan and was
scheduled last fall. What a concept, planning in advance for a
strategic planning session! Earlier this month Cal conducted an
extensive online survey of our membership and almost 40% responded.
After Cal's intensive 8 hour interactive session, the Board will examine
in detail the 56 pages gleaned from the survey and make long range plans
based on our member's responses.
“Kit, the reason I'm sending this information to you is that your
readership is much greater than our membership, and I want the hundreds
of Brokers, Lessors, Discounters, Funding Sources, and other leasing
professionals to understand how much the membership of the NAELB has
matured and diversified over the past several years.
“Here are a few examples based on the survey:
. 69% of our member companies have been in business over 5 years. The geographic breakdown goes like this:
West Coast 24%.
86% use the internet daily.
59% responded that they were highly or moderately involved in financial package transactions.
“This is certainly not the ‘old NAELB’.
“We will be announcing shortly our Fall Regional Meetings. After the
incredible success last year with our meeting in Marina del Rey with
over 120 attendees, we have decided to have two this year. The West
Coast Regional will be in Irvine on September 19-20 and Atlanta on
“A detailed agenda will be available in the next few weeks
and I will forward it to you. I hope you will be able to attend at
least one of them.”
Best personal regards,
Bob Bell, CLP
(I’ll be in Las Vegas, you can bet on it. Can’t make September 19th –20th as going to a wedding of a very close friend (his fifth) in Hawaii (Mauna Kea)http://www.maunakeabeachhotel.com/page_server/Mauna%20Kea%20Beach/
--- and November 9th the Jets come to the Coliseum to play the Raiders—I’ve got tickets... but count on me for Las Vegas. It is in the calendar April 29-May 1.
November 7-8, 2003
College Park, Georgia
Agenda and more information available at:
Van Etten Leasing
(“Vel, vhat da you tink?” asked the Dutchman.)
Leasing News has confirmed a good portion of this, but do not know if Sterling Bank is involved and whether “Salesstream” is the marketing concept, or
“broker business.” Fred Van Etten good naturedly just laughed and asked us to wait.
Is Sierra Cities rising from the ashes, without Thomas J. Depping. One thing for sure, Jim Raeder and Mark McQuitty are expanding their current business across the country, most of the other officers have retired, even Charlie Lester now only does medical/dental working capital loans, not leases.
There definitely are not that many national players in the broker funding
marketplace compared to several years ago. Come to think of it, there
are less leasing brokers around, too.
Leasing News is told a formal announcement will be made to the leasing community within 30 days.
In case you missed it in our “odds and ends” on Monday, July 21st:
“I heard that Hernan Traversone, VP Credit and Ric Anderson have left AMEX
BF as of this week. If that s the case, they would certainly represent more than
just . . . another shoe dropping.”
(name with held)
(I am trying to confirm ( or get denial) on this. I do know that Michael Galan
Collections Team Leader of American Express Business Finance is leaving
to move back to Florida, but believe it was voluntary. Maybe he knows
something, too, as if Sandy Weill, the CEO of Citigroup, is stepping down at the end of the year, as the New York Post reported, will he try and close out his career with the acquisition of American Express to top his deal with Sears
As to Traverson and Andersson, I have heard from the grapevine they have joined
Fred Van Etten, who they worked with at Sierra Cities. A well-informed source
also tells me he thinks Roger Gephardt is with Van Etten. He was VP of First Sierra handling the securitizations. He came to First Sierra from First Union Bank in 1995 or 96. Brilliant man that knows everything about securitization, Leasing News is told. He also left American Express to join Van Etten, maybe as long ago as 18 months ago...
### Press Release #####################################
Siemens Names Veteran Gregg Simpson VP/Senior Officer
Siemens Financial Services, Inc. (SFS) announces that Gregg Simpson joins as a vice president and senior business development officer in its Asset-Based Lending (ABL) division. With Simpson's arrival, SFS is opening an office in Charlotte, North Carolina to expand the region's access to the company's comprehensive suite of corporate financial services.
From the new office, Simpson will be serving the Carolinas, Eastern Tennessee, Georgia and Florida. He will be leading SFS' origination efforts in the Carolinas while supporting the ABL group's initiative to provide working capital financing to the middle market. This office will enhance SFS' presence in the Southeast, which has been served through offices in Atlanta.
"As an industry veteran with more than 28 years of successful corporate lending experience in the Southeast, Gregg is very well suited to manage SFS' Charlotte office," said Mike Coiley, senior vice president and managing director of the Asset-Based Lending division at SFS. "The Southeastern US is a strategically important market for SFS. With Gregg as the newest member of the team, we expect to quickly expand our efforts in the Carolinas and beyond."
Simpson was most recently with Sunrock Capital, where he managed the company's Charlotte office. Prior to that, he was with National Canada Business as vice president, Fremont Capital and Dana Business Credit. He is a graduate of University of North Carolina and Wingate College.
This expansion is evidence of Siemens Financial Services' commitment to see its clients grow and prosper. By offering a variety of financing options, SFS can present clients with a solutions-based approach that best meets each company's individual financing requirements.
For more information: www.usa.siemens.com.
#### Press Release ##########################################
Free Equipment Leasing Events From The Lessors Network?
(Lessors Network) Atlanta, GA - After five years of successfully producing high profile networking events for the commercial and municipal equipment leasing industries, the Lessors Network confirms it is exploring a creative new sponsorship program designed to subsidize the total cost of attendee registration.
"The problem with traditional sponsorship programs", says John Semon, CEO of the Lessors Network, is that they provide little, if any, value to the sponsor. Generally, they get their name on a sign at the event, but no assurances the event will deliver an audience for their products and services. While attendees are being asked to pay high registration fees for events that seldom deliver content directly enhancing their equipment lease origination, administrative and/or funding networks. We think we can improve on this."
Ideally, a Lessors Network event might line up 10 to 12 sponsoring companies, agreeing to subsidize the full attendee registration cost for a set number of attendees. The Lessors Network probably has the largest database of email addresses for equipment leasing personnel in the industry. This database will be used to advertise sponsored events and the Lessors Network web site will accommodate attendee registration pursuant to the sponsor's guidelines.
The result is a smaller, more focused, event delivering an audience with a predetermined interest in the sponsor's products and services.
Semon advised a beta version of this new strategy has just been launched for their upcoming annual conference in August. Attendees can request a $500 sponsor subsidy reducing their attendee registration cost from $675 to $175.
About The Lessors Network
The Lessors Network facilitates new business development opportunities within the corporate and municipal equipment leasing markets. John Semon may be contacted via email at email@example.com. Additional information can be viewed from their web site at - www.lessors.com
### Press Release #############################################
Summer Rentals As Economic Indicator
Weill's Departure Shows Good Timing
Sun's fourth-quarter revenue falls 13 percent
UPS' domestic volume rises; international profit soars/Leasing Sucks
Army to Keep 145, 000 GIs on Duty in Iraq
QB Garcia enters 49ers camp with back pain http://www.bayarea.com/mld/mercurynews/sports/football/nfl/san_francisco_49ers/6356516.htm
Crouch Quits Again
Billick to Boller: Be there or forget chance to start
Texans sign first-round pick WR Andre Johnson
This Day in American History
1829-William Austin Burt of Mount Vernon, Michigan, patented the first typewriter on July 23, 1829. The design of the keyboard was changed several
times without much thought, but the most common was the one designed basically so you could use the keys on one line to type out “typewriter.”
1827-The first swimming school in the US opened at Boston, MA. Its pupils included John Quincy Adams and James Audubon.
1885- Ulysses S. Grant died at 63 and was buried this day in a mausoleum on Riverside Drive, New York City, overlooking the Hudson River. The funeral of Gen. Grant was designated a day of national mourning. The body was taken to New York City on a special train shrouded in black curtains The former president lay in state at City Hall, where citizens who wished to pay their last respects gathered in a line a mile long Day and night for two days the mourners filed past. The funeral procession to the tomb was enormous and people packed the sidewalks and rooftops along its route.
1885-the first state banking association was the Texas Bankers’ Association, which was organized at Lampasas, TX, with an initial membership of 31. The first president was James Francis Miller.
1886- a 23 year-old unemployed Irish immigrant Stephen Brodie was pulled from the East River, claiming that he had just jumped off the Brooklyn Bridge. The newspapers of
the day headlined his survival. Although Brodie was unable to produce any objective witnesses to say he had performed the feat---he was accused of having his friends drop a dummy from the bridge while he slipped unnoticed into the water from the riverbank---the newspapers made him famous. In 1894, he starred in a play called “On the Bowery,” during which he rescued the heroine by jumping off a bridge built onstage.
1904-Charles E. Menches of Akron, Ohio, Missouri “discovers” the ice cream
cone. The City of Akron gives him credit for hamburgers and corn snacks. While
many give him credit, there are others who also have claim.
The Official Day in History gives the credit to Menches:
As does the official website for the City of Akron, Ohio
It also may be that he invented the hamburger as we know it, too:
1908-Birthday of Charles Melvin “Cootie” Williams, Mobile, AL
1915-birthday of trumpet player Emmett Berry, Macon, GA http://www.harlem.org/people/berry.html
1918- birthday of Harold Henry “Pee Wee” Reese, famous short stop player for the
Brooklyn Dodgers, who I saw play often. Died August 14,1999
http://www.baseballhalloffame.org/hofers_and_honorees/hofer_bios/reese_pee_wee.htm ( perhaps my favorite personal baseball player, captain of the team, short stop. Readers probably get sick of me saying how baseball players would stay after games to autographs balls or pictures for free, thank you for coming to the game. )
1924-Birthday of African American physician Louis Tompkins Wright. Louis Tompkins Wright, a young African American physician interning at Freedmen’s Hospital in Washington, DC, created a way to observe the Schick test on darkly pigmented skin. His discovery opened the way for the immunization of people of color against diphtheria and contributed to saving countless lives.
1925-Lou Gehrig of the New York Yankees hit the first grand slam of his career as the Yankees defeated the Washington Senators, 11-7. Gehrig hit 22 other grand slams and still holds the major league record.
1930-Tenor saxophone player Richie Kamuca Birthday
( lower part of: http://memory.loc.gov/ammem/today/jul23.html )
1934-Birthday of soprano sax player Steve Lacy, New York, NY.
1935-Birthday of Cleveland Duncan, lead singer of the 1950's rhythm-and-blues group, the Penguins, was born. The Los Angeles-based Penguins were responsible for one of the great r-and-b songs of the decade, 1954's "Earth Angel," which by 1966 had sold four-million copies. The record went to number eight on the Billboard pop chart, but a white Canadian group, the Crew Cuts, had an even bigger pop hit when they covered "Earth Angel" in 1955. "Earth Angel" hit the Billboard Hot 100 again in 1986 in a revival by the New Edition.
1936- birthday of Don Drysdale, elected to the Baseball Hall of Fame in 1984. He was a pitcher for the Brooklyn and Los Angeles Dodgers from 1956 to 1969, compiling a Won-lost record of 209—166 with a career ERA of 2.95. Following his Playing career he became successful and popular broadcast announcer for the Chicago White Sox and then the Dodgers. He was born at Van Nuys, CA, and died at Montreal, Canada, July 3, 1993.
1941-Sonny Dunham records big band version of “Memories of You.” http://220.127.116.11/.WWW/d3.html#SDunham
1943-birthday of guitarist/song writer Tony Joe White, Oak Grove, LA
1947-Birthnday of Don Imus, radio personality (IMUS in the Morning)
You Can’t Be True, Dear - The Ken Griffin Orchestra (vocal: Jerry Wayne)
Woody Woodpecker Song - The Kay Kaiser Orchestra (vocal: Gloria Wood & The Campus Kids)
It’s Magic - Doris Day
Bouqeut of Roses - Eddy Arnold
1950- the “Gene Autry Show” premiered on television. The popular CBS western ran for six years starring movie actor Gene Autry. Along with sidekick Pat Buttram. His horse’s name was Champion. Autry helped bring criminals to justice. He later founded the California Angel’s baseball team ( a statue of him is at the Anaheim stadium ). He has a museum of Western History http://www.autry-museum.org
The Wayward Wind - Gogi Grant
Hound Dog/Don’t Be Cruel - Elvis Presley
Whatever Will Be Will Be (Que Sera Sera) - Doris Day
I Walk the Line - Johnny Cash
1960-Betsy Rawls became the first golfer to win the US Women’s Open four times, adding the 1960 title to those won in 1951, 1953 and 1957. http://www.reedsweb.com/drtbird/golf/html/brawls.htm
1962 - The "Telstar" communications satellite sent the first live TV broadcast to Europe. It was used to send TV programs between the United States and Europe
Rag Doll - The 4 Seasons
Can’t You See that She’s Mine - The Dave Clark Five
The Girl from Ipanema - Stan Getz/Astrud Gilberto
Dang Me - Roger Miller
1965-In a 5-1 win over the Mets, Phillies' first baseman Dick Stuart homers at Shea Stadium becoming the first player to have gone deep in 23 major league ballparks
1966 - Frank Sinatra hit the top of the pop album chart with his "Strangers in the Night". It was the first #1 Sinatra LP since 1960. The album’s title song had made it to number one on the pop singles chart on July 2nd.
1966-Napoleon XIV releases "They're Coming to Take Me Away, Ha! Ha!"
1969- James Brown walked out of Los Angeles Mayor Sam Yorty's office when the mayor failed to show up on time to present him with a proclamation for James Brown Day http://www.funky-stuff.com/jamesbrown/
Lean on Me - Bill Withers
Too Late to Turn Back Now - Cornelius Brothers & Sister Rose
Alone Again (Naturally) - Gilber O’Sullivan
It’s Gonna Take a Little Bit Longer - Charley Pride
It’s Still Rock & Roll to Me - Billy Joel
Little Jeannie - Elton John
Cupid/I’ve Loved You for a Long Time - Spinners
True Love Ways - Mickey Gilley
1984 - Miss America, Vanessa Williams, turned in her crown. It had been discovered that she had posed nude for "Penthouse" magazine. Williams, the first black Miss America, relinquished her title to Suzette Charles, the pageant’s runner-up. http://www.celebritycd.com/vanessawilliams/
1988- Saskatchewan's Dave Ridgway kicks record 8 field goals vs. Edmonton
Hold on to the Nights - Richard Marx
Pour Some Sugar on Me - Def Lappard
New Sensation - INXS
’Em Up Joe - Vern Gosdin
1996- the first television station to regularly broadcast high-definition television was WRAL, a CBS affiliate in Raleigh, NC. There are many prime time television shows now broadcast in HD, but not many sets sold that will receive the broadcasts.
1997- Netware International Bank was shut down by the FBI. The bank had been accused of improperly making loans and collecting deposits over the Internet.
2000- Joining his grandfather Gus and father Buddy, Reds' third baseman Mike Bell becomes part of the first three-generation family to play for the same team.
2000 -The Astros hit four homers off Cardinal hurler Andy Benes to tie the major league record for homers allowed by one pitcher in an inning. The second inning uprising help Houston set a team record for homers in one inning and tie a team record with six home runs for the game.
2000- After rejecting a trade to the Mets, Reds' All-Star shortstop Barry Larkin agrees three-year, $27 million contract extension that will keep him Cincinnati until 2003.
2000 - Tiger Woods won the British Open at St. Andrews, Scotland to become the youngest player (24 years of age) to win the career ‘Grand Slam’ of golf (The Masters, PGA Championship, U.S. Open and British Open) and the first to win all four majors since Jack Nicklaus’ victory in the 1966. Woods not only was the youngest player to win the career Grand Slam, he completed it faster than any of the four greats who did it before him. The other players to win the Grand Slam were Gene Sarazen in 1935, Ben Hogan in 1953, Gary Player in 1965 and Jack Nicklaus in 1966 (age 26) at Muirfield. (Nicklaus went on to win the Grand Slam two more times.) Woods finished the British Open at 19-under-par 269, the best score ever at St. Andrews (Nick Faldo shot an 18- under in his 1990 win), and the lowest score ever at a major championship.
2002- Celebrating his 29th birthday by hitting three homers Boston's 22-4 rout of the Devil Rays, Nomar Garciaparra ties the major league record becoming the 26th player to hit five home runs in two games. It was Red Sox shortstops second three-homer game, who also accomplished the feat against the Mariners on May 10, 1999.