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Is There a Further Divide in Leasing and Financing?
by Christopher Menkin

As the economy moves with a lower percentage of employed making a higher salary than the higher percentage of employed, is this also occurring in the financial community?

It appears the larger lessors are funding the large corporations but the brokers are seeing mostly small ticket deals from small businesses. It appears small businesses are still hesitant to take on debt. The broker is not getting pushed out. 54% of sales come from small businesses, according to the SBA.

Brokers have told me “They actually like brokers because of what we bring to the table. Many business owners ended up with some dings on their credit as a result of trying to survive the last 8 years, so it's tougher for them to get financing.”

The 28 million small businesses and 18,500 firms with 500 employees or more, according to the SBA.

“Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s. The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.

“Furthermore, the small business sector is growing rapidly. While corporate America has been "downsizing," the rate of small business ‘start-ups’ has grown, and the rate for small business failures has declined.

“The number of small businesses in the United States has increased 49% since 1982.

“Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.”

The Small Business Administration also reports:

How often do small businesses fail?

“About two-thirds of business survive 2 years in business, half of all businesses will survive 5 years, and one-third will survive 10. The longer a company has been in business, the more likely it is to stay in business—it’s those first few years that are the hardest. The Bureau of Labor Statistics also tracked business survival across industries and concluded that these statistics are pretty consistent regardless of industry. Which leads us to our next statistic…

That thing you hear about restaurants being incredibly risky? It’s not really true.

“You might have heard that restaurants are particularly risky, and almost destined to fail. One statistic thrown around often is that 60% of restaurants close within a year of their opening. This is especially easy to believe because it seems to be supported by personal anecdotes: how often do restaurants seem to open and close in your neighborhood?

“But according to a paper published in 2005, the 60% figure applies to the first 3 years of the business, not one year. (According to this chart from the SBA, it’s more like 20% for the first year, which further question the 2005 survey evidently still referred to today by many.) The craziest part? One of the most significant reasons for high restaurant failure rates is a lack of startup capital: banks will often refuse to lend to restaurants because they’re too risky. This creates a vicious cycle in which restaurants can fail simply because they weren’t able to obtain enough startup financing to become profitable. (Luckily, alternative lenders are happy to lend to restaurant owners.)”

What’s the most frequent reason for small business failure?

“According to a U.S. Bank study, a whopping 82% of businesses that fail do so because of cash flow problems. Remember that cash flow doesn’t just mean the amounts of money that are coming in and out: you have to take timing into account, too. If you operate a business based on an invoicing system, for example, and your invoices aren’t paid until after your loan payments are due, you might end up with a cash flow problem”

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The Tsunami of Store Closure is Doubling in Size
by Hayley Peterson, Business Insider

Retailers are closing stores at a staggering rate.

About 2,000 store closures have been announced just within the last six weeks, bringing the total number of planned closures this year to nearly 5,100.

That number is expected to keep growing, and reach more than 8,600 before the end of the year, according to Credit Suisse.

"Store closings have accelerated, even in tier-one markets," Credit Suisse analysts wrote in a recent research note.

Major department stores such as Macy's, JC Penney, and Sears are among those shutting down stores, along with retailers like Payless, Rue21, Michael Kors, and Bebe.

The closures are crippling hundreds of shopping malls across the US.

"This is a death spiral," John M. Clapp, a professor at the University of Connecticut's Center for Real Estate, told Business Insider. "Once a department store goes vacant that tends to be contagious because all those middle-mall stores — the nail salons and the jewelry stores — they are all depending on the traffic coming from the bigger retail stores."

Credit Suisse expects 20% to 25% of malls — or roughly 220 to 275 shopping centers — to shut down over the next five years as a result of all the store closures happening this year.

As malls decline, the communities around them tend to follow suit.

"Retail jobs are lost and eventually tax revenues decline," Clapp says. Ultimately, growing crime rates can become a problem for the surrounding area, as well.

Many local economies will be reeling from the effects of the closures for years, but they have been a long time coming in the US, where the amount of retail space per capita far outweighs any other country in the world.

The US has 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia, the next two countries with the most retail space per capita, according to Morningstar Credit Ratings.

Retailers that don't close enough stores won't survive through the upheaval happening in the industry right now, according to Credit Suisse.

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Half of Millennials Plan to Start a Small Business
in the Next 3 Years by Bob Coleman, Coleman Reports

And 62% say they want a business that makes money, specifically “lots of money,” rather than a business that is “lots of fun.” Being one’s own boss was cited by 40% as motivation to strike out on their own.

More stats provided by an America’s SBDC report.

59% of millennials say that with the right ideas and resources they would start a business within the next year

61% of millennials believe that the best job security comes from owning your own business

45% of millennials say access to capital is the biggest barrier to starting their business

In fact, the entrepreneurial spirit is alive and well throughout all generations across the country.

Even living through the Great Recession, 62% of Americans have a dream business in mind that they would love to start. A staggering 41% say they would quit their job and start a business in the next six months if they had the tools and resources they needed.

Notes Tee Rowe, president of America’s SBDC, “It is clear that the entrepreneurial spirit is not only alive and well in America, but that people are eager to find help to build their dream business.”

One problem is access to capital.

Money was cited by 55% as the most limiting factor in entrepreneurship. When broken down by gender, 63% of women feel most challenged by this barrier.

The lack of knowledge and small business savvy is another roadblock existing for Americans looking to start small businesses. Over half of Americans say they would be encouraged to start a small business if they knew where to go for help.

Even more striking, more than 13 million Millennials cite not knowing where to go for help to start or run a business as the number one reason that keeps them from starting their own business.

But, Tee Rowe has a solution, “We at America’s SBDCs could not be more ecstatic or well positioned to help them grow with our nearly 1,000 locations across the country filled with dedicated professionals.”

bob@colemanreport.com
Coleman Report, 28081 Marguerite Pkwy., #4525, Mission Viejo, CA 92690

Full Report: America's Voice on Small Business (19 pages)
http://www.leasingnews.org/PDF/VoiceSmallBusiness2017.pdf

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Leasing Industry Help Wanted

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http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees

10 Avoidable Mistakes Salespeople Make

by Jim Acee

I have met, managed and observed hundreds of sales people in my career. I’ve always appreciated the good ones, worked to improve the mediocre ones and tended to question the career choices of the bad ones. Below are a handful of basic mistakes I see sales reps make every day and all of them are avoidable.

Lack of meeting preparation – Hands down, this is the single biggest mistake sales reps make. Over confidence in sales skills causes sales people to employ fly-by-the-seat-of-the pants selling. While I’ve observed this in new sales reps, I see it mostly in seasoned reps. Completing a sales call planner is a good first step in meeting preparation (I’ve always been a fan of Miller-Heiman’s ‘Green Sheets’ in The New Conceptual Selling).*

No research - Failure to do your homework prior to a meeting is a bush league mistake. If you find yourself asking what products your prospect sells, how many locations they have or what’s the name of the CEO, you are setting yourself up to fall into the bad sales rep category. With the advent of the internet, Google and business resources like LinkedIn, you can find out everything from products to where your prospect went to college.

No Goals – If I had a dime for every time I got a blank stare when I asked a sales rep what their goals were for their upcoming meeting, I’d be retired, living off my blank stare income. It’s a simple question: what do you want to accomplish at this meeting? Articulating your meeting goal in a simple statement (i.e. I want to get a commitment for X dollar/unit sales by July 1, 2017). Writing down a meeting goal is a way to tell whether your sales meeting was a success when measured against the actual results of the meeting.

Showing up late – If you are going to arrive late to your appointment have the common courtesy to call the person you are meeting with to tell them you are going to be running late. Offer to reschedule the meeting if warranted. You can avoid this mistake by simply taking the time to map out your day’s appointments beforehand so you know how long it will take to get from one place to another.

Meeting with the wrong person – He/she is the VP of Whatever and you love it because they will always give you the appointment. The problem is that no decisions are ever made. Telltale signs are: they just keep asking for more information, block you from meeting with the owner/president, tell you they are the decision maker but don’t have the authority to sign the contracts (Miller Heiman’s The New Strategic Selling definition of buying influences is the best I’ve read). Bottom line is that this person is not the decision maker and almost always will be a waste of time.

No rapport – If people don’t like you, they won’t buy from you. Take the time at the beginning of the meeting to build rapport with your prospect. It doesn’t have to be fake or gratuitous. Just look around the office, do they have a golf club sitting in the corner? How about a stuffed fish on the wall? Family pictures? Chances are very good that you have something in common that you can bond with if you take the effort to look around.

Poor questioning skills – There are whole books and more than enough sales training seminars based around questioning skills, so I won’t spend time covering the subject here. Most sales reps know to use open ended questions, but tend to wing it during the meeting. Take the time to write out your questions beforehand. It will allow you time to actually listen to what your customer is saying and spend less time thinking about what question to ask next.

Talk too much – A rookie mistake salespeople make is to think that they must blurt out their whole product suite before ever finding out what the customer needs. It’s always better to ask questions first and listen to what your customer needs before offering your product solution. I once read that the average sales person will answer their own question, if there is more than a 4 second silence from their customer. They key is to keep your mouth shut to give your customer a chance to answer the question. If you find yourself talking more than your customer during meetings, chances are good you don’t have a clue what your customer needs or wants.

Don’t verify (check) to see if customer agrees – Most sales reps have no idea why they did not get the sale. Chances are they failed to ask the ‘checked’ questions after presenting any product information to find out if the customer had objections. (i.e. How do you see this working in your company?)

No follow-up appointment – Every outside sales rep that has ever worked with me has heard me say ‘never leave an appointment, without an appointment’. Unless you are a one stop sale, follow-up is key to keeping the sales process moving forward in a complex sale. Take the time to set up your next appointment before your current appointment ends.

* Miller Heiman's Sales Access Manager
http://help.saleswebserver.net/MillerHeiman/MHgreen/Welcome.htm

Previous Jim Acee columns plus Sales Makes it Happen
http://www.leasingnews.org/Legacy/index.html

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Brief Survey Request on Leasing Associations
by National Association of Equipment Leasing Brokers

“As an organization we are constantly evolving to meet the needs of a changing industry and global marketplace. As part of our evolution, we invite members and non-members to take this brief survey to help focus our efforts to better serve our members and the industry. We would greatly appreciate a few minutes of your time to assist in this endeavor.”

(No "name in" requirement or NAELB membership. Program allows you to only respond once. Short survey)

https://www.surveymonkey.com/r/NAELB_Membership

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

Adobe Sign Free Webinar Self-Service e-Signature
Wednesday, June 14 10:00 a.m. PDT

To Learn how to create self-service e-signature processes.
For more information and to register:

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

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“Positioning Today’s Lessors for Tomorrow” in Dubai,
United Arab Emirates / October 30 – 31, 2017

Amembal & Halladay is pleased to announce that our Management Symposium, “Positioning Today’s Lessors for Tomorrow”, will be held in Dubai, United Arab Emirates from October 30th – 31st of 2017.

Positioning Today’s Lessors for Tomorrow is a learning experience different than any other event that you have attended – actual practice, not theory, is the theme of our Symposium. The real-world experience of the faculty will provide unique insights and clarity as delegates apply the subject matter in a hands-on environment through team activities and case studies. Templates and guides will provide additional value.

Critical operational factors such as funding, improving profitability, identifying vulnerabilities and assessing the company’s financial health are explored in depth. The speakers, including leasing company executives, will provide insights into successfully shepherding the leasing company into the future.

All members of management will greatly benefit from attending this symposium, including CEOs, CFOs, COOs, middle managers, and those being groomed for management positions.

Registration is now open with an early bird discount in effect until August 15, 2017.

Amembal & Halladay, formed in 1978, was the first entity to serve the global equipment leasing industry and is the world's premier service provider to its many leasing industries and companies. Amembal & Halladay has trained over 80,000 leasing professionals in 80-plus countries; and, has authored 16 industry bestsellers. It also has provided consultancy services to over 20 governments as well as numerous well-known, blue chip leasing companies around the globe.

Contact Kelly Farnham for more information and to register:
kelly@amembalandhalladay.com

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        1498 - Christopher Columbus left on his third voyage to the New World.
    1639 – The Massachusetts Bay colony granted 500 acres at Pecoit to Edward Rawson for the establishment of a gunpowder mill. The enterprise failed, as did various other attempts. It was not until 1675, at Milton on the Neponset River, that a successful gunpowder mill remained a going concern.
    1712 - The Pennsylvania Assembly banned the importation of slaves.
    1716 - The first slaves arrived in Louisiana.
    1755 - Birthday of Nathan Hale (d. 1776), Coventry, CT. The American Patriot was caught behind lines gathering troop movements by British General William Howe, who ordered him to be hung in the morning, as he was a spy. His alleged last words have become a symbol of American Patriotism: “I only regret that I have but one life to lose for my country." They were attributed to a news story printed in the 19th century, and were not heard by contemporaries of his time, nor commented upon. A 1777 newspaper article reported Hale as saying that “if he had ten thousand lives, he would lay them all down, if called to it, in defense of his injured, bleeding country.'' Four years later, another newspaper story quoted Hale's last words as: “…my only regret is, that I have not more lives than one to offer in its service.'' Hull's 1848 memoirs give us the pithier version we know today: “I only regret that I have but one life to lose for my country.'' According to Captain Frederick Mackenzie, a British officer who witnessed Hale's death, “he may have been young and courageous, but he never said these words.” According to Mackenzie's diary, he wrote that Hale's last words were: “It is the duty of every good officer to obey any orders given him by his commander-in-chief.” James A. Barnes, “Myths of the Bryan Campaign,” Mississippi Valley Historical Review (1947). Also see:
http://www.lihistory.com/4/hs413a.htm
    1756 - Birthday of American painter John Trumbull (d. 1843), Lebanon, Conn. He was notable for his historical paintings. His ‘Declaration of Independence’ (1817) was used on the reverse of the two-dollar bill.
lower half of: http://memory.loc.gov/ammem/today/jun06.html
    1769 - Daniel Boone first began to explore the present-day Kentucky.
    1775 - The United Colonies changed their name to United States.
    1776 - Richard Henry Lee of Virginia proposed to the Continental Congress the resolution calling for a Declaration of Independence: that "these United Colonies are, and of right ought to be, free and independent States..." Congress delayed the vote on the resolution until July 1.
    1785 [approximately] - Haitian explorer Jean Baptiste-Pointe Dusable settled Chicago. In 1779, he was living on the site of present-day Michigan City, IN when he was arrested by the British military on suspicion of being an American sympathizer in the Revolution. In the early 1780s, he worked for the British lieutenant-governor of Fort Michilimackinac on an estate at what is now the city of St. Clair. MI, before moving to settle at the mouth of the Chicago River. He is first recorded living in Chicago in early 1790, having apparently become established sometime earlier. He sold his property in Chicago in 1800.
    1816 - The temperature reached 92 degrees at Salem, MA during an early heat wave, but then plunged 49 degrees in 24 hours to commence the famous "year without a summer."
    1828 - A party led by Jebediah Smith completed a journey down the Klamath River and were on the verge of starvation when they were visited by Indians who brought food. Smith's party proceeded north to Oregon and most of the party was killed by Umpqua Indians. Smith was killed in 1831 by Comanches on the Cimarron River. Smith’s party was the first white people to see Lake Earl, the biggest lagoon on the West Coast.
    1831 - “People of Color” Convention held for the first time.
    1833 - Andrew Jackson became the first President to ride on a train.
    1861 - President Lincoln's cabinet declared that the Union government will pay for expenses once states have mobilized volunteers.
    1862 - Confederate gunboats engaged a Union flotilla near Memphis, TN. As crowds of spectators watched from the riverbanks, the outgunned Confederates were defeated. The city of Memphis surrendered shortly before noon of that day, effectively opening up the Mississippi region. The war would rage on as the Union Army through shear source of "numbers of soldiers" would prevail.
http://www.cr.nps.gov/hps/abpp/battles/tn004.htm
http://www.americancivilwar.com/statepic/tn/tn004.html
    1872 - Susan B. Anthony tests the rights of women and black males to vote under the 14th and 15th amendment, registering and voting in Rochester, New York. She would be arrested, tired, and sentenced to pay a fine. She refused. The judge backed down, fearing she would take this to the Supreme Court for appeal, but nevertheless, the votes were all disqualified and both women and blacks would not be allowed to vote in this century.
    1889 - Great Fire in Seattle, Washington destroys 25 downtown blocks.
    1892 – Benjamin Harrison became the first U.S. President to attend a Major League game as he watched the Cincinnati Reds defeat the hometown Washington Senators, 6-5, in 11 innings.
    1892 - Birthday of bandleader Ted Lewis was born Theodore Leopold Friedman (d. 1971), Circleville, OH.
http://www.redhotjazz.com/tedlewis.html
    1892 – The famous “L” began operation in Chicago. The Chicago and South Side Rapid Transit Railroad began revenue service when a steam locomotive pulling four wooden coaches, carrying over a couple of dozen people, departed the 39th Street station and arrived at the Congress Street Terminal 14 minutes later, over tracks that are still in use by the Green Line.
    1894 - One of the greatest floods in U.S. history occurred as the Willamette River overflowed to inundate half of the business district of Portland OR.
    1899 - Birthday of pianist William “Fats” Jefferson, Waco, TX.
    1889 - Bryn Mawr College awarded the first graduate fellowship to a woman in the history of the United States. It went to Emily Greene Balch (B. 01-08-1867) for "prosecuting sociological studies." Balch went on to win the Nobel Peace Prize in 1946. Half the human race is a terrible thing to waste... Bryn Mawr was under the direction of M. Carey Thomas who developed the college to an academic par with Harvard University.
    1902 - Birthday of band leader Jimmy Lunceford (d. 1947), Fulton, MS.
http://www.pbs.org/jazz/biography/artist_id_lunceford_jimmie.htm
http://www.amazon.com/exec/obidos/search-handle-form/104-3603723-3237564
    1904 - Helen McCloy (1904-1993) was born in NYC. American mystery writer under the pseudonym Helen Clarkson, she was the first woman to serve as president of Mystery Writers of America. In 1953, she received Edgar award from the same organization for her criticism.
http://www.kirjasto.sci.fi/hmccloy.htm
    1907 – Bill Dickey (d. 1993), was born in Bastrop, LA. He played for the New York Yankees for 19 seasons (1928-1943). After serving in the US Navy during World War II, Dickey returned to the Yankees in 1946 as a player and manager. He retired after the 1946 season, but returned in 1949 as a coach, where he taught Yogi Berra, himself a veteran of the Normandy invasion, the art of catching. During Dickey's playing career, the Yankees went to the World Series nine times, winning eight championships. He was named to 11 All-Star Games. As a manager and coach, the Yankees won another six World Series titles. Dickey was elected to the Baseball Hall of Fame in 1954.
    1918 - Casey Stengel returned to Ebbets Field for the first time since being traded from the Brooklyn Dodgers to the Pittsburgh Pirates over the winter. Stengel celebrated the occasion by striding to the plate for his first at-bat, calling time, doffing his cap and letting a live bird fly out. Fans broke into laughter. He was giving them the bird.
    1918 – The Battle of Belleau Wood saw the US Marines suffer its worst single day's casualties while attempting to recapture the wood at Chateau-Thierry.
    1920 - The St. Louis Cardinals played their last game at Robison Field (renamed "Cardinal Field" in 1917), their home field since 1893, beating the Chicago Cubs, 5-2. One of new owner Sam Breadon’s first decisions was to agree to a ten-year lease for $20,000 annually, allowing his team to move six blocks to share Sportsmen’s Park with the St. Louis Browns. He used the money from selling the aging ballpark to finance Branch Rickey’s idea of establishing a fam system by investing in a club affiliation with a minor league team in Houston.
    1921 – Bill Gatewood of the Detroit Stars pitched the first no-hitter in the history of the Negro National League, defeating the Cuban Stars, 4-0.
    1925 - Birthday of trombonist Al Grey (d. 2000), Aldie, VA.
http://www.jazzcanadiana.on.ca/_GREY.htm
http://www.trombone.org/articles/library/algrey-tribute.asp
    1925 – Walter P. Chrysler founded Chrysler Corporation. Chrysler had been an auto enthusiast for over five years by the time he was introduced to Charles Nash, then president of the Buick Motor Company, who was looking for a smart production chief. Chrysler, who had resigned from many railroading jobs over the years, made his final resignation from railroading to become works manager (in charge of production) at Buick in Flint, MI. He found many ways to reduce the costs of production, such as putting an end to finishing automobile undercarriages with the same luxurious quality of finish that the body warranted. Chrysler was then hired to attempt a turnaround by bankers who foresaw the loss of their investment in Willys-Overland in Toledo. He demanded, and received, a salary of $1 million a year for two years, an astonishing amount at that time. When Chrysler left Willys in 1921 after an unsuccessful attempt to wrestle control, he acquired a controlling interest in the ailing Maxwell Motor Company. Chrysler phased out Maxwell and absorbed it into his new firm, the Chrysler Corporation, in Detroit, in 1925. In addition to his namesake car company, Plymouth and DeSoto marques were created, and in 1928, Chrysler purchased Dodge. Chrysler was named Time Magazine’s Man of the Year for 1928.
    1930 - Dillard University, a private, historically black liberal arts college in New Orleans, was founded, incorporating earlier institutions dating to 1869. It is affiliated with the United Church of Christ and the United Methodist Church.
http://www.dillard.edu/
    1931 - Birthday of guitarist Grant Green (d. 1979), St. Louis, Mo.
http://website.lineone.net/~johnharris/grant_green.htm
http://members.tripod.com/vermontreview/CD%20Reviews/gamut.htm
    1932 - The Revenue Act of 1932, in the beginning of the Great Depression, was enacted, creating the first gasoline tax in the United States, at a rate of 1 cent per gallon.
    1933 - Richard M. Hollingshead, Jr., a chemical company magnate, opened America's first drive-in movie theater on Admiral Wilson Boulevard in Pennsauken Township, NJ. In 1932, Hollingshead conducted outdoor theater tests in his driveway at 212 Thomas Avenue in Riverton. After nailing a screen to trees in his backyard, he set a 1928 Kodak projector on the hood of his car and put a radio behind the screen, testing different sound levels with his car windows down and up. Blocks under vehicles in the driveway enabled him to determine the size and spacing of ramps so all automobiles could have a clear view of the screen. Hollingshead applied for a patent of his invention on August 6, 1932, and he was given US Patent 1,909,537 on May 16, 1933. At the height of their popularity in 1958, there were more than 4,000 drive-ins across America. As of March 2014, a figure of 348 drive-ins has been published for the United States. In the Fall of 2014, the burger chain Johnny Rockets announced that it would team up with USA Drive-Ins to open 200 drive-ins by 2018 serving Johnny Rocket's food at the concession stands.
    1934 - President Franklin D. Roosevelt signed the Securities Exchange Act that established the SEC. Wall Street had operated almost unfettered since the end of the eighteenth century. However, the stock market crash of 1929 necessitated regulation of the exchanges. The Securities and Exchange Commission is composed of five members appointed by the President.
    1939 - Singer Gary (US) Bonds, whose real name is Gary Anderson, was born in Jacksonville, Florida. Bonds had a string of energetic dance records in the early 1960's, the biggest of which was "Quarter to Three," which reached number one in 1961. Bonds' career was revived in 1981 by Bruce Springsteen. "The Boss" wrote "This Little Girl of Mine," which became Gary (US) Bonds' first hit in nearly 20 years. Bonds' comeback album, "Dedication," also made the charts.
    1939 - Bert and George Bebble and Carl Stotz formed Little League Baseball in Williamsport, PA. The three youth teams in the league have uniforms thanks to a $35 donation.
    1941 – The New York Giants became the first team to wear protective headgear as they used plastic helmets in a game against the Pittsburgh Pirates.
    1942 - Birthday of Marian Wright Edelman, activist and founder of the Children's Defense Fund, Bennettsville, SC.
http://cdfweb.vwh.net/mwe.html
http://bss.sfsu.edu/edelman/aboutmwe.htm
    1942 - The Battle of Midway--one of the most decisive U.S. victories in its war against Japan--comes to an end. Occurring only six months after Japan’s attack on Pearl Harbor and one month after the Battle of Coral Sea, mmilitary historian John Keegan called it "the most stunning and decisive blow in the history of naval warfare." In the four-day sea and air battle, the outnumbered U.S. Pacific Fleet succeeded in destroying four Japanese aircraft carriers with the loss of only one of its own, the Yorktown, thus reversing the tide against the previously invincible Japanese navy.
    1943 - The worst of the L.A. Zoot Suit Riot violence, a series of racial attacks, occurs as soldiers, sailors, and marines from as far away as San Diego travel to Los Angeles to join in the fighting. During a period when many Mexican migrants arrived for the defense effort and newly assigned servicemen flooded the city, Mexican youths, recognizable by the zoot suits they favored, were attacked as being unpatriotic. Taxi drivers offer free rides to servicemen and civilians to the riot areas. Approximately 5,000 civilians and military men gather downtown. The riot spreads into the predominantly African American section of Watts.
    1944 – “D-Day, the 6th of June.” In the early-morning hours, Allied forces landed in Normandy on the north coast of France. In an operation that took months of planning, a fleet of 2,727 ships of every description converged from British ports from Wales to the North Sea. Operation Overlord involved 2,000,000 tons of war materials, including more than 50,000 tanks, armored cars, jeeps, trucks and half-tracks. The US alone sent 1,700,000 fighting men in the largest amphibious military operation in history. The Germans believed the invasion would not take place under the adverse weather conditions of this early June day, especially with their number one General, George S. Patton, deployed elsewhere. But as the sun came up, the village of Sainte-Mère-Eglise was liberated by American parachutists, and by nightfall the landing of 155,000 Allies attested to the success of D-Day. The long-awaited second front had at last materialized.
General Patton joined the war with his tank brigade, pushing toward the Rhine River before the other generals told him he couldn't do that.
http://memory.loc.gov/ammem/today/jun06.html
    1944 – Honoring the D-Day invasions, Major League Baseball cancelled all games for the day.
    1944 – Tommie Smith was born in Clarksville, TX. At the 1968 Summer Olympics, Smith won the 200-meter dash finals and gold medal in 19.83 seconds – the first time the 20-second barrier was broken legally. His Black Power salute with John Carlos atop the medal podium caused controversy at the time as it was seen as politicizing the Olympics. It remains a symbolic moment in the history of the Civil Rights Movement.
    1944 - Birthday of pianist Monty Alexander, Kingston, Jamaica
http://www.montyalexander.com
    1945 - McTUREOUS, ROBERT MILLER, JR., Medal of Honor
Rank and organization: Private, U.S. Marine Corps. Born: 26 March 1924, Altoona, Fla. Accredited to: Florida. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty, while serving with the 3d Battalion, 29th Marines, 6th Marine Division, during action against enemy Japanese forces on Okinawa in the Ryukyu Chain, 7 June 1945. Alert and ready for any hostile counteraction following his company's seizure of an important hill objective, Pvt. McTureous was quick to observe the plight of company stretcher bearers who were suddenly assailed by slashing machinegun fire as they attempted to evacuate wounded at the rear of the newly won position. Determined to prevent further casualties, he quickly filled his jacket with hand grenades and charged the enemy-occupied caves from which the concentrated barrage was emanating. Coolly disregarding all personal danger as he waged his furious 1-man assault, he smashed grenades into the cave entrances, thereby diverting the heaviest fire from the stretcher bearers to his own person and, resolutely returning to his own lines under a blanketing hail of rifle and machinegun fire to replenish his supply of grenades, dauntlessly continued his systematic reduction of Japanese strength until he himself sustained serious wounds after silencing a large number of the hostile guns. Aware of his own critical condition and unwilling to further endanger the lives of his comrades, he stoically crawled a distance of 200 yards to a sheltered position within friendly lines before calling for aid. By his fearless initiative and bold tactics, Pvt. McTureous had succeeded in neutralizing the enemy fire, killing 6 Japanese troops and effectively disorganizing the remainder of the savagely defending garrison. His outstanding valor and heroic spirit of self-sacrifice during a critical stage of operations reflect the highest credit upon himself and the U.S. Naval Service.
    1946 - The Basketball Association of America was founded at a New York meeting of hockey team owners and arena managers interested in having their buildings used on open dates. The original BAA franchises: Boston Celtics, Chicago Stags, Cleveland Rebels, Detroit Falcons, NY Knickerbockers, Philadelphia Warriors, Pittsburgh Ironmen, Providence Steamrollers, St. Louis Bombers, Toronto Huskies, Washington Capitols. The BAA played three seasons (1946-49), after which it merged with the National Basketball League, founded in 1937, to form the National Basketball Association. Three original BAA teams remain: the Boston Celtics, the Philadelphia Warriors (now the Golden State Warriors) and the New York Knicks.
    1949 - Top Hits
“Riders in the Sky” - Vaughn Monroe
“Again” - Doris Day
“Some Enchanted Evening” - Perry Como
“Lovesick Blues” - Hank Williams
   1951 - HANSON, JACK G., Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company F, 31st Infantry Regiment. Place and date: Near Pachi-dong, Korea, 7 June 1951. Entered service at: Galveston, Tex. Born: 18 September 1930, Escaptawpa, Miss. G.O. No.: 15, 1 February 1952. Citation: Pfc. Hanson, a machine gunner with the 1st Platoon, Company F, distinguished himself by conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty in action against an armed enemy of the United Nations. The company, in defensive positions on two strategic hills separated by a wide saddle, was ruthlessly attacked at approximately 0300 hours, the brunt of which centered on the approach to the divide within range of Pfc. Hanson's machine gun. In the initial phase of the action, 4 riflemen were wounded and evacuated and the numerically superior enemy, advancing under cover of darkness, infiltrated and posed an imminent threat to the security of the command post and weapons platoon. Upon orders to move to key terrain above and to the right of Pfc. Hanson's position, he voluntarily remained to provide protective fire for the withdrawal. Subsequent to the retiring elements fighting a rearguard action to the new location, it was learned that Pfc. Hanson's assistant gunner and 3 riflemen had been wounded and had crawled to safety, and that he was maintaining a lone-man defense. After the 1st Platoon reorganized, counterattacked, and rescued its original positions at approximately 0530 hours, Pfc. Hanson's body was found lying in front of his emplacement, his machine gun ammunition expended, his empty pistol in his right hand, and a machete with blood on the blade in his left hand, and approximately 22 enemy dead lay in the wake of his action. Pfc. Hanson's consummate valor, inspirational conduct, and willing self-sacrifice enabled the company to contain the enemy and regain the commanding ground, and reflect lasting glory on himself and the noble traditions of the military service.
    1955 - Bill Haley & Comets, "Rock Around the Clock" hits #1
    1956 - Gogi Grant (born Audrey Brown) reached the top spot on the "Billboard" singles chart for the first and only time in her career. Her hit, "The Wayward Wind", stayed at the top of the top-tune tabulation for eight weeks and on the music charts for 22 weeks. It was her second record release. The first, in October, 1955, was "Suddenly There's a Valley" which climbed to number nine.
http://www.gpproductions.com/acts/grant.html
http://art.staviator.com/G/Gogi_Grant.html
    1956 - Gene Vincent's recording of "Be Bop A Lula" was released. The song was co-written by Vincent and (Sheriff) Tex Davis, a deejay at a Norfolk, Virginia radio station. "Be Bop a Lula" was a hit on both sides of the Atlantic, selling a million copies. Vincent never was able to match the success of his initial hit. He died in 1971 of a seizure brought on by a bleeding ulcer.
    1957 - Top Hits
“Love Letters in the Sand” - Pat Boone
“A Teenager's Romance/I'm Walkin'” - Ricky Nelson
“A White Sport Coat (And a Pink Carnation)” - Marty Robbins
“Four Walls” - Jim Reeves
    1960 - Tony Williams left Platters for a solo career. Williams was the lead singer on the Platters' big hits in the '50s - "Only You," "The Great Pretender" and "Smoke Gets in Your Eyes," among others. In the 1970's, Williams and Buck Ram, manager of the Platters, battled in court over who had the right to use the group's name. Ram won the case, but both later toured with groups billed as the Platters, Williams calling his the International Platters.
    1960 - Roy Orbison's "Only the Lonely" was released. It would reach number two on the Billboard Hot 100 and inspire Bruce Springsteen to write "Born to Run."
    1960 - The RIAA presents Bing Crosby with a special platinum record honoring the sale of his 200 millionth record, a total which includes not only 125 albums but 2,600 singles!
    1962 - The Beatles audition for EMI, recording four demos, the first material the band ever recorded at Abbey Road: three original compositions called "Love Me Do," "Ask Me Why," and "P.S. I Love You," and a cover of the standard "Besame Mucho." Producer George Martin is not at the session, but is called in by engineer Norman "Hurricane" Smith when he hears something he likes in "Love Me Do." Martin is not impressed with the group's songwriting, scruffy outfits, and even scruffier equipment (one of the band's amps blows during the audition), and he tells them so, finishing, "Look, I've laid into you for quite a time, you haven't responded. Is there anything you don't like?" To which George quips, "I don't like your tie!" The tension is broken, and Martin, charmed by the group's personality, agrees to work with them. (Though he later says, "They were pretty awful. I understand why other record companies turned them down.") The band members are paid US $12 each for the session; drummer Pete Best, with whose skills Martin remains unimpressed, would soon be sacked from the group.
    1964 - The Dixie Cups' "Chapel of Love" hits #1
    1965 - General Westmoreland requests a total of 35 battalions of combat troops, with another nine in reserve. This gave rise to the "44 battalion" debate within the Johnson administration, a discussion of how many U.S. combat troops to commit to the war. Westmoreland felt that the South Vietnamese could not defeat the communists alone and he wanted U.S. combat troops to go on the offensive against the enemy. His plan was to secure the coastlines, block infiltration of North Vietnamese troops into the south, and then wage a war of attrition with "search and destroy" missions into the countryside, using helicopters for rapid deployment and evacuation. Westmoreland had some supporters in the Johnson administration, but others of the president's advisers did not support Westmoreland's request for more troops, because they disagreed with what would be a fundamental change in the U.S. role in Vietnam. In the end, Johnson acquiesced to Westmoreland's request; eventually there would be over 500,000 U.S. troops in South Vietnam.
    1965 - Top Hits
“Help Me, Rhonda” - The Beach Boys
“Wooly Bully” - Sam The Sham and The Pharaohs
“Crying in the Chapel” - Elvis Presley
“What's He Doing in My World” - Eddy Arnold
    1966 - Civil rights activist Stokely Carmichael launches “Black Power” Movement. Died Nov 15, 1998.
http://www.blackhistory.eb.com/micro/727/78.html
    1966 - Author Truman Capote holds famous "Black & White Ball" — widely regarded as most glittering bash of the decade.
    1966 - No. 1 Billboard Pop Hit: "Paint It Black," The Rolling Stones.
    1966 - The Turtles and Oxford Circle at the Fillmore Auditorium in San Francisco.
    1966 - The Beatles record "Eleanor Rigby."
    1968 - McDonald, Phill G., Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company A, 1st Battalion, 14th Infantry, 4th Infantry Division. place and date: Near Kontum City, Republic of Vietnam, 7 June 1968. Entered service at: Beckley, W. Va. Born: 13 September 1941. Avondale, W. Va. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Pfc. McDonald distinguished himself while serving as a team leader with the 1st platoon of Company A. While on a combat mission his platoon came under heavy barrage of automatic weapons fire from a well concealed company-size enemy force. Volunteering to escort 2 wounded comrades to an evacuation point, Pfc. McDonald crawled through intense fire to destroy with a grenade an enemy automatic weapon threatening the safety of the evacuation. Returning to his platoon, he again volunteered to provide covering fire for the maneuver of the platoon from its exposed position. Realizing the threat he posed, enemy gunners concentrated their fire on Pfc. McDonald's position, seriously wounding him. Despite his painful wounds, Pfc. McDonald recovered the weapon of a wounded machine gunner to provide accurate covering fire for the gunner's evacuation. When other soldiers were pinned down by a heavy volume of fire from a hostile machine gun to his front, Pfc. McDonald crawled toward the enemy position to destroy it with grenades. He was mortally wounded in this intrepid action. Pfc. McDonald's gallantry at the risk of his life which resulted in the saving of the lives of his comrades is in keeping with the highest traditions of the military service and reflects great credit upon himself, his unit, and the U.S. Army.
    1970 - MURRAY, ROBERT C., Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company B, 4th Battalion, 31st Infantry, 196th Infantry Brigade, 23d Infantry Division. Place and date: Near the village of Hiep Duc, Republic of Vietnam, 7 June 1970. Entered service at: New York, N.Y. Born: 10 December 1946, Bronx, N.Y. Citation: S/Sgt. Murray distinguished himself while serving as a squad leader with Company B. S/Sgt. Murray's squad was searching for an enemy mortar that had been threatening friendly positions when a member of the squad tripped an enemy grenade rigged as a booby trap. Realizing that he had activated the enemy booby trap, the soldier shouted for everybody to take cover. Instantly assessing the danger to the men of his squad, S/Sgt. Murray unhesitatingly and with complete disregard for his own safety, threw himself on the grenade absorbing the full and fatal impact of the explosion. By his gallant action and self-sacrifice, he prevented the death or injury of the other members of his squad. S/Sgt. Murray's extraordinary courage and gallantry, at the cost of his life above and beyond the call of duty, are in keeping with the highest traditions of the military service and reflect great credit on him, his unit, and the U.S. Army.
    1968 - New York Senator Robert Francis Kennedy dies after being shot while campaigning for president. The assassination took place shortly after midnight on June 5, 1968, in the Ambassador Hotel in LA, after winning the California and South Dakota Democratic primaries. Kennedy died in the Good Samaritan Hospital twenty-six hours later. Sirhan Sirhan, a 24-year-old Palestinian/Jordanian immigrant, was convicted of Kennedy's murder and is serving a life sentence for the crime. The shooting was recorded on audio tape by a freelance newspaper reporter, and the aftermath was captured on film. There are many who believe this was a conspiracy, and there are many sites on the internet making all kinds of noise, but history is full of loners who manage to assassinate famous people, including American presidents.
    1986 - Manager Steve Boros of the San Diego Padres was ejected before the first pitch of a game with the Atlanta Braves when he attempted to give umpire Charlie Williams a videotape of a disputed play in the previous night's game, a 4-2 Braves victory.
    1971 – Ed Sullivan said goodbye as "The Ed Sullivan Show" left CBS-TV. He reportedly lived in my home town of Port Chester, New York, married to a Jewish lady who reportedly ruled the roost at home. As a newspaper columnist, he was very popular and it was told a mention in his column was very important for one’s career. When his variety shows appeared on television, with him as the host, due to his fame as a columnist, he was able to attract the top stars that were originally afraid of the medium. He also brought in new talent and had a real circus from Polish dancing bears, a little mouse named Topo Gigio, and “discovered” Elvis Presley, The Beatles, The Dave Clark Five, the comedy of Jackie Mason, John Byner, Rich Little, Allen King, Richard Pryor and so many more. Gladys Knight and The Pips and singer Jerry Vale appeared on the final show. "The Ed Sullivan Show" had been a showcase for more than 20 years for artists who ranged from Ethel Merman to Ella Fitzgerald, from Steve and Eydie to the Beatles. "The Ed Sullivan Show" was the longest running variety show on TV.
    1973 - Barry White was awarded a gold record for "I'm Gonna Love You Just a Little More Baby." It was his first hit and his first of five number one million-sellers. White began recording in 1960. He formed the group, Love Unlimited, in 1969 and married one of the group's singers, Glodean James. He also formed the 40-piece Love Unlimited Orchestra which had the number-one hit, "Love's Theme" in 1973.
    1973 - Top Hits
“My Love” - Paul McCartney & Wings
“Daniel” - Elton John
“Pillow Talk” - Sylvia
“Satin Sheets” - Jeanne Pruett
http://members.rott.chello.nl/p.klein6/bwindex.htm
    1977 - Severe thunderstorms with large hail and winds to 100 mph caused one million dollars damage around Norfolk, VA. A forty-two foot fishing boat capsized near the Chesapeake Bay Bridge Tunnel drowning 13 of the 27 persons on board.
    1977 - Stevie Wonder appears, sponsored by Billboard, as a guest music lecturer at a UCLA symposium, talking about his early Motown days and illustrating his points with performances.
    1978 - Proposition 13 passed in California. Voters joined Senator Howard Jarvis in cutting property taxes by 57 percent. This was seen as the birth of a taxpayer's revolt against high taxes and excessive government spending. It also spelled the end of the higher education system in California, and brought the secondary schools from number one to number thirty and lower in score testing today.
    1978 - “20/20” premiered on TV. An hourly news magazine developed by ABC to compete with CBS's “60 Minutes”. Its original hosts, Harold Hayes and Robert Hughes, were cut after the first show and replaced by Hugh Downs. Barbara Walters became co-anchor in 1984. The show consisted of investigative and background reports. Contributors to the show have included Tom Jarriel, Sylvia Chase, Gerald Rivera, Thomas Hoving, John Stossel, Lynn Sher and Stone Phillips.
    1981 - Top Hits
“Bette Davis Eyes” - Kim Carnes
“Being with You” - Smokey Robinson
“Stars on 45 medley” - Stars on 45
“Friends” - Razzy Bailey
    1988 - Seventeen cities in the north central U.S. reported record high temperatures for the date, including Williston, ND with a reading of 104 degrees. Thunderstorms in Florida produced wind gusts to 65 mph which damaged two mobile homes northwest of Melbourne injuring six people.
    1989 - Top Hits
“Rock On” - Michael Damian
“Soldier of Love” - Donny Osmond
“Wind Beneath My Wings” - Bette Midler
“Where Did I Go Wrong” - Steve Wariner
    1996 - San Francisco became the first city in the nation to sue the tobacco industry.
    1998 - "The Boy is Mine," by Brandy and Monica, zoomed to number 1 on the "Billboard" pop chart. It ruled the Hot 100 roost for 13 weeks -- putting it in the top ten of longest-running #1 singles in the modern rock era.
    2000 - Thanks to the Angels' video crew playing a clip from the 1994 movie "Ace Ventura, Pet Detective" on the JumboTron, the Rally Monkey is born. With the words "Rally Monkey" superimposed over a monkey jumping up and down in the Jim Carrey movie, the crowd goes wild as Anaheim scores two runs in the bottom of the ninth to beat the Giants, 6-5.
http://imagesource.allposters.com:80/images/pic/PHOTOFILE/AADT038~
Anaheim-Angels-Rally-Monkey--Photofile.jpg
    2003 - Insisting the corked bat, designed to put on home run displays during batting practice, was accidentally used in the Devil Rays' game, Cubs' slugger Sammy Sosa is suspended for eight games by Major League Baseball. Bob Watson, baseball's vice president of on-field operations, agreed the Chicago's outfielder use of an illegal bat was an "isolated incident," but one that still deserved a penalty.
    2004 – Phylicia Rashad became the first African-American actress to win a Tony award for a leading dramatic role in a revival of “A Raisin in the Sun.”
    2005 - In Gonzalez v. Raich, the Supreme Court upheld a federal law banning cannabis, including medical marijuana.
    2014 - Telecom company Vodafone, an original investor in Verizon Wireless, reported that certain nations allow authorities direct access to citizen communications data without a warrant. The company is prohibited from revealing the names of these nations.

NBA Finals Champions:
1976 - Boston Celtics

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