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Credit Analyst
Sausalito, CA
Banking, financial, leasing experience;
opportunity to grow, work w/seasoned
professional; small office, Excel a must
e-mail: spickens@oxfordfinance.com or
call 415-331-1725
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Wednesday, June 7, 2006
Headlines---
Classified -Doc. Mgr./Finance /Legal
Archives—June 7,2001—Romoff Resigns
Double Tax Discounting Leases in CA
FASB looking to expense leasing costs
Lahti's Second Son Joins the Firm
Bankers still “mad” -Wal-Mart ILC
Sales Makes it Happen - by T. Winders
--“Financing/Leasing Alternatives”
Classified Ads---Help Wanted
“Sonny” Monosson Tells All---New Book
Microsoft Explorer almost 85%
Cartoon—New Digital Camera Feature
Lee Beaumont Joins Willis Sr.Mgmt
News Briefs---
You May have Missed---
"Gimme that Wine"
Restaurant Review-Casanova, Carmel
Calendar Events
Today's Top Event in History
This Day in American History
Spring Poem
SuDoku Puzzle
######## surrounding the article denotes it is a “press release”
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Classified Ads-- -Documentation Manager / Finance / Legal
in the heart of the Finger Lakes district of New York, Lamoreaux Landing Wine Cellars--Lodi, NY *
Documentation Manager / Finance / Legal
Documentation Manager: New York, NY
10+ years in equipment leasing/secured lending. Skilled in management & training, documentation, policy and procedure development & implementation, portfolio reporting. Strong work ethic.
Email: dln1031@nyc.rr.com |
Documentation Manager: Phoenix, AZ
Lease Administrator with exp. in lease administration, doc. & porfolio management for $200M in IT assets. Additional experience financial analysis process improvement/development.
Email: jeg3894@cox.net |
Finance: Austin, TX
20+ years all facets of lease/finance. Collection and credit management. Equipment & rolling stock structuring. $150k credit authority, $100 million portfolio management.
Email: texmartin@juno.com
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Finance: Chicago, IL
Experienced in big ticket origination, syndication, valuation and workout.
Twenty five years, MBA, CPA, |
JD, LLM (Tax), structuring specialist. Inbound and outbound transactions. Email: pal108381@comcast.net
Transaction Summary
Website: www.tlgattorneycpa.com |
Finance: Orange County, CA
25+ years experience large ticket and mid-market commercial finance. Senior manager in operations, documentation, legal, credit, workouts, portfolio management. $2+Billion portfolio. MBA Finance. Juris Doctor.
Email: finance1000@cox.net
|
Finance: San Jose, CA
15+ years sourcing debt, managing cash and receivables and other treasury functions. Strong background in credit, contract
administration and bankruptcy litigation experience. MBA Finance.
Email: raycis@comcast.net |
Finance: Sausalito, CA
Sr. Corp. officer, presently serving as consultant, fin. service background, M&A, fund raising, great workout expertise, references
Email: nywb@aol.com |
Finance: Toronto
Long diverse career financial services industry. Executed billions of dollars of leases over 20 years; structuring, executing and pricing US/Canadian transactions. Per Diem or full time.
E-mail: eslavens@eol.ca |
Legal: Los Angeles, CA
Experienced in-house corporate and financial services attorney seeks position as managing or transactional counsel. Willing to relocate.
Email: sandidq@msn.com |
 |
Legal: San Francisco, CA
Exper. leasing atty.seeking position w/reputable lessor or broker as in house counsel, Prefer SF Bay Area, will consider relocating for right position. |
Contact Ken Greene at kenlaw100@aol.com or (415) 461 3777.
See Biography |
For a full listing of all “job wanted” ads, please go to:
http://64.125.68.91/AL/LeasingNews/JobPostings.htm
To place a free “job wanted” ad, please go to:
http://64.125.68.91/AL/LeasingNews/PostingForm.asp
* http://www.lamoreauxwine.com/lamld-fr.html
[headlines]
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Archives—June 7,2001—Ira Romoff Resigns
“Viewed as a major blow to the leasing industry, particularly to the East Coast, Citicorp has ordered European American to cease third party origination by June 30. As they did with Copelco, Citicorp does not like brokerage business.
“European American President Ira Romoff has resigned. It is expected Fred Anderson will be on the streets shortly, along with Omar Diaz and Rich Illich ( I hope we have these names spelled correct as this was just telephoned in to us from the crab fest being held by the Eastern Association of Equipment Leasing in Hanover, Maryland.)
“If you will note by the many responses of companies looking for direct salesmen in recent editions of Leasing News, it appears the trend is going back to the 1970's, where companies had their own sales force to secure business.
“We will up-date the Leasing News list soon.”
(Most likely you will not see Ira at Thursday's EAEL Crab Feast:)
June 8th , 2006—Tomorrow
Annual EAEL Crab Feast
This year's event is being hosted by:
Dennis Horner- The Equipment Leasing Company Nancy Pistorio- Madison Capital Bruce Winter- FSG Leasing
The event has been moved to a new location this year:
OBYRCKI's Crab House and Restaurant
1727 E. Pratt Street
Baltimore, Md.21231.
The event is close to the Baltimore Inner Harbor, Fells Point, the National Aquarium, Fort McHenry and many other Baltimore attractions.
For more information and to register for this event visit: www.eael.org or contact Dennis Horner at 800 365 6566
Don't miss it!
www.eael.org
Alison@eael.org
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Double Tax on Discounting Leases in California
For almost five years Bette Kerhoulas, CLP, has been trying to resolve an issue with the State Board of Equalization, who after an audit, charged Pacific-Capital, Irvine, California with not paying "sales/use tax" on documentation and filing fees ( if billed separately rather than on the invoice for first and last they would not be subject to tax, they ruled) plus leases the company assigned they consider "sold," meaning the assets were not only taken as collateral in discounting, but title changed hands, therefore the leases were subject to sales/use tax in the transfer.
Several hundred thousand dollars are involved in “double taxation,” and Pacifica-Capital has spent close to $100,000 to date in defending their position. The "event" was discussed at several United Association of Equipment Leaisng Conference, particularly since Ms. Kerhoulas is a past president. On April 25,2006 she e-mailed UAEL members for any assistance or history they had regarding California sales/use tax:
“April 25, 2006
“Dear UAEL Member:
“As part of your UAEL membership benefits, UAEL is informing you of a tax case set for hearing on May 17, 2006 before the California Board of Equalization ("BOE"), which may be important to you. A synopsis of the Taxpayer's Brief which has been filed with BOE is attached to this email. If you want more information concerning this case or want to contribute to a lobbying effort, you may contact the following:
Bette Kerhoulas, CLP
Pafinco
bettek@pacifica-capital.com
Outline attached:
http://leasingnews.org/PDF/TPOutline.pdf
According to the June 6, 2006 edition of ELT News, "The Equipment Leasing Association (ELA) has filed comments with the California Board of Equalization in case #217918 in support of a leasing company contesting application of sales tax to discounted or assigned true leases where the assignment contracts ostensibly transferred title to the property but in reality title was not transferred as the leasing company retained the residual equity interest. The leasing company also argues that for those other transactions in which title was in fact transferred, if the assignment is considered a second sale, then leasing company is entitled to an offset for taxes it originally paid on the equipment. Also in contention is tax on documentation fees in $1 purchase option leases. It is viewed as a case of double taxation since tax was paid up front on the equipment cost providing the State all revenues to which it is entitled.
"You can view ELA comments for the hearing scheduled July 18 at
http://leasingnews.org/PDF/ELASub0506.pdf
"ELA joined the claimant in arguing a second sales tax collection places form over substance by ignoring the reality that title was never transferred. ELA also echoed claimant's position that for those transactions where title was transferred, claimant is entitled to an offset because claimant did not "use" the property before re-selling it. Claimant leased the equipment and then immediately assigned the equipment to the funder. The funder had in each case pre-committed to fund the lease long before any delivery or acceptance under the lease occurred. To argue in the face of a pre-commitment to acquire that taxpayer lessor used the equipment under the lease before selling it and thus is not entitled to the §1701 offset is inequitable, contrary to the regulatory intent and punitive to taxpayer in particular.
" A summary by the claimant outlining these issues is accessible at
http://leasingnews.org/PDF/TPOutline.pdf
"The issue of sales tax application to fees for preparing documents was the result of auditors interpreting transactions as two separate sales; one from the vendor to the lessor and one from the lessor to the customer. Auditors concluded lease financings are analogous to sales by dealers where documentation fees are gross receipts from sales. This analysis ignores the fact that the customer actually negotiates the purchase and purchase price with the vendor and that the lessor is in reality providing financing only. Auditors effectively applied tax to a service extended by the lessor rather than anything substantive that could be subject to sales tax.
“ELA members wishing to learn more or assist as the case nears a hearing on July 18 should contact Bette Kerhoulas at bettek@pacifica-capital.com “
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FASB looking to expense leasing costs
Major companies could be affected by the change
AccountancyAge.com
US accounting standard setter, the Financial Accounting Standards Board, is considering forcing companies to include the cost of leased equipment and property on the balance sheet.
Currently these costs are not included on the debt side of the balance sheet with a company only required to detail its future lease obligations with a special footnote in the annual report.
The actual rent payments during any given quarter are deducted in the income statement for that period.
The new rule would have a major impact on the balance sheet of some of the world's biggest companies including drugstore giant Walgreen Co, and postal services group Federal Express, which have billions of dollars in leasing costs.
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Lahti's Second Son Joins the Firm
December 2, 2005 , Jim Lahti,CLP, Dallas Cowboy fan and owner of Affiliated Investment Group, Inc., “The Flexible Funding Source”, as he calls it, announced on December 2, 2005, his son Stephen M. Lahti joined the firm as National Account Manager. Stephen Lahti was a recent graduate of the McCombs School of Business at the University of Texas.
“I am very pleased to announce my son as the newest addition to our team," he said then, and noted that his son "... business skills are apparent and his enthusiastic approach to Leasing Life has been well received by all”.
Yesterday he announced that because Stephen was doing so well, David A. Lahti joined the firm as a Leasing Specialist. David is a full time student at the Communications School at The University of Texas at Austin and will work as a summer intern.
“I am very pleased to have my other son join the company and begin to learn the leasing business, "he said." As a straight ‘A' student at UT, I anticipate he will catch on quickly to the administrative and marketing tasks in Leasing Life...
"Kit, here's a picture of David at a UT football game with his sister (the next in line to join Leasing Life) as well a real life picture of David next to Kobe and the rest of the Lakers team. Thought your readers might get a kick out of both of them."
James R. Lahti, CLP
Affiliated Investment Group, Inc.
"The Flexible Funding Source"
930 S. Bell Blvd, Suite 104
Cedar Park, TX 78613
512-336-7335
512-336-7336 Fax
"p.s Kit, Go Mav's"
[headlines]
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Bankers still “mad” about Wal-Mart ILC
banknews.com
The Independent Community Bankers of America is urging members to contact their representatives to sign a drafted letter to the FDIC by Rep. Paul Gillmor, R-Ohio, and Rep. Barney Frank, D-Mass. The representatives ask the FDIC to “... impose a moratorium on approving any applications for deposit insurance for any new industrial loan companies owned by commercial firms and on approvals for acquisitions of existing ILCs until Congress has had an opportunity to consider the ILC issue.”
The representatives pointed to House approvals on limitations on ILC activities, legislation introduced that would close the ILC loophole and legislation that is being formulated to address the ILC issue in a comprehensive manner.
“The issue of the powers of ILCs, and the extent of who may own an ILC, is an issue that Congress has begun to address, and the FDIC should wait until Congress has acted before authorizing any additional commercially-owned ILCs,” the letter concludes.
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Sales Make it Happen
Financing/Leasing Alternatives
By Terry Winders, CLP
Both leasing and financing may have the same mark-up (interest) for the funding source, but the impact of the “ True Cost” on the business depends on all these issues and matching them to the complete list of wants and needs of the business.
When considering how best to finance equipment, many business owners and managers are faced with a broad range of wants and needs. If you ask them, which is the most important “want” or “need,” they will usually select interest rate. What they really mean is what is “ the cost of financing.”
The question that needs to be answered to help your customer is: What is the true cost of financing? Is it interest expense or cash expense? And then is it book expense, tax expense or maybe is it matching expenses to revenue?
True cost has many answers depending on what the customer is trying to accomplish. An answer to this question will put you on the road to creating the proper financing package for your customer.
There are four parts to True Cost:
- Cash expense,
- Book expense,
- Tax expense,
- Term of use.
To the average business manager the control of the expense and its timing is almost as important as the expense itself. The True Cost takes into account many different aspects. It depends on how they manage their business, when they take expenses and what results they want to show to their stockholders, suppliers, creditors, or bankers. This, for the most part, depends on how they arrive at, or control revenues and expense.
The appearance of true cost in traditional financing looks easy because financing provides an interest rate cost and a purchase price to be depreciated over time.
“When and How the expense is taken”
The timing of the expense is dependent on accounting rules that depreciate the purchase price on a straight line basis over the assumed average term of use. This expense usually does not coincide with the financing that creates a cash cost by requiring a down payment and a short term of financing. Thereby the cash required to pay for the equipment is greater that the book expense because they are on different terms. Therefore the cash cost is larger than the assumed interest and depreciation because of the drop in equity to offset the excess cash cost. This is sometimes referred to as “opportunity cost.”
The expense for tax is accelerated; however, it is usually over a different term than the book depreciation and is no longer tied to the actual term of use. Therefore true cost is a mixture of when and how the expense is taken.
The True Cost of Leasing is different than the True Cost of financing because of both tangible and non-tangible issues.
The tangible issues are:
- The cash requirements to pay the rent connected to the type of lease for expense purposes;
- The term of lease as it relates to how long the equipment will be of “use” to the business (lessee), and;
- The adjustment of the rent to take into account cash cost for maintenance, insurance, or seasonal revenue flow.
Some of the non-tangible issues are:
- Control of expense timing;
- The time delay prior to the beginning of rent to allow equipment to become productive before the expense begins;
- The control of the expense by arranging irregular rent to coincide with cash revenues, so no line of credit from the bank with additional interest is required for cash shortfalls;
- The matching of expense and cash cost;
- No capital investment or down payment required and;
- 6) Off balance sheet approach when following accounting rules.
Leases that meet operating classification for accounting and can be expensed for income tax put everything in tandem. If the term of the lease is equal to the term of the equipment use, then a True Cost can be assumed because the expense is properly placed over the term of use with a structure that controls the timing of the rental payments. If the lessee wants a level cost over the term then level rents are offered. However, if the lessee wants to increase the rentals in the beginning when there are no maintenance costs and reduce rentals in the future when maintenance cost materialize or to reduce them in the beginning until revenue is received in the future, they both can be accomplished by adjusting the rent to control the cost.
In addition to preserving cash flow and other lines of credit, whether the company is a large corporation or entrepreneur, what is the effect of the cost, when it is recorded and placed on the income statement and the tax return is an important factor to consider.
Leasing offers the best method to control costs and support the lessee's need to present it in the financial records to show the company's best results.
Terry Winders, CLP
Lease training and Consulting
502-327-8666
leaseconsulting@msn.com
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Classified Ads---Help Wanted
Account Executive
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Exp. Account Executive
Salt Lake City, Utah
Intermediaries--Background in sales/leasing and/or finance required/credit experience preferred. Salary plus commission. Fax resume: 801-733-2363 or email: clong@acccapital.com
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Jr. Analyst
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Credit Analyst
Sausalito, CA
Banking, financial, leasing experience;
opportunity to grow, work w/seasoned
professional; small office, Excel a must
e-mail: spickens@oxfordfinance.com or
call 415-331-1725
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|
Operations Manager
|
Operations Manager for growing equipment leasing/broker services co. in Costa Mesa, CA to oversee syndication, docs, & credit functions. Prior leasing experience pref. Salary with benefits. Send resume to: Sarah@Podiumfinancial.com
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VP-Manager of Equipment Lease Division
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VP-Manager of Equipment Lease Division
Costa Mesa, CA
Responsibilities include managing and directing marketing staff from solicitations through credit submission and doc signing.
Email: sltidland@goldenwestfinance.com
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“Sonny” Monosson Tells All---New Book
The legendary venture/high risk/leasing innovator Adolp F. “Sonny” Monosson tells all in his book “ Turning Problems in Profit.” His business memoirs on his truly legendary impact in the used computer and leasing and financing industry marketplace is now available for $19.95 plus shipping and handling.
In 1979, Sonny Monosson gained national attention when he nearly went to jail for wearing a sandwich board sign to sell used computer equipment outside a computer conference in Atlantic City. It was the start of another business for Monosson, whose adventures spanned nearly eight decades.
As an entrepreneur, Sonny Monosson considered starting new companies to be a hobby, and over the course of his career, founded seventeen in all. He started his first company, Berkeley Finance Corp., in 1956 after receiving a degree in Electrical Engineering from MIT (1948) and an MBA from the Harvard Graduate Business School (1950).
After starting another commercial finance company, Boston Financial & Equity Corporation in 1968, Sonny Monosson saw the possibilities and created a market for used computers with the launching of America Used Computer Corporation in 1969. He leveraged that experience as a columnist for Digital News in the 1980s and wrote and published a newsletter, Monosson on DEC, read by observers and insiders at Digital Equipment Corporation.
"Turning Problems into Profit" includes an insider's account of the legendary rivalry between DEC and IBM. The book also features recollections and anecdotes of prominent leaders in the Boston business community, from the 1974's to the present. You'll take away life lessons from an innovative thinker whose views and adventures will open your eyes to possibilities you never considered.
All proceeds (less shipping and handling) to be donated to the Monosson Prize for Entrepreneurship Mentoring, established at MIT in 2005.
For more information contact: debbie@bfec.com or send check for $19.95 plus $1.00 Massachusetts per copy plus $3.50 for shipping and handling to Boston Financial, 1260 Boylston Street, Boston, Mass. 02215 (Please make check out to: Boston Financial & Equity Corporation.)
[headlines]
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Microsoft Explorer almost 85%
May 2006 netapplications.com is starting to regain its lead in the browsers war with its release of beta 2 of Explorer 7.
Once the testing is complete, the other browsers will most likely see further declines. The once 85% network browser, Netscape, who basically changes the world wide web into what we can find today, has fallen to below 1%.
Only Opera grew in users, but to a mere .59%. This is perhaps the fastest browser, but has no where near the features or ability of Explorer and many of the others browsers.
[headlines]
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[headlines]
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### Press Release ###########################
Lee Beaumont Joins Willis Lease Finance Senior Management Team; Veteran Industry Leader Named Executive Vice President for Strategy and Business Development
SAUSALITO, Calif.----Willis Lease Finance Corporation (Nasdaq:WLFC), a leading lessor of commercial jet engines, today announced it has hired Lee G. Beaumont to the newly created position of Executive Vice President for Strategy and Business Development.
"Lee brings substantial in depth aviation industry experience to our Company, and I am delighted to welcome him to our team," said Charles F. Willis, President and CEO. "His well-rounded background makes him exceptionally well qualified to help us achieve our future growth goals. He knows engines from both the technical and marketing perspectives. This experience is nicely complimented by his finance and accounting credentials. In addition, he has solid relationships with maintenance, repair and overhaul facilities, and airlines, which will serve us well, not only in growing our existing leasing franchise, but also as we evaluate new markets. Initially, Lee will focus on developing and enhancing our current hourly maintenance and pooling agreements in China, Europe and North America. In addition to those responsibilities, he will be working to promote strategic alliances and exploring investment opportunities which can propel Willis Lease to the next level of growth and profitability."
Beaumont spent the last two years as a consultant with The Carlyle Group of Washington, DC. Previously, he was with Standard Aero Limited for 17 years, including four years as President of their US subsidiary. Under his leadership the company more than tripled its share of the engine remanufacturing market to 45% and generated more than $400 million in revenue.
A 1997 graduate of the Stanford Executive Program, Beaumont holds both Bachelor of Commerce and Bachelor of Sciences degrees from the University of Manitoba. He is a member of the Canadian Institute of Chartered Accountants and has lectured at the University of Manitoba on computer accounting systems.
About Willis Lease Finance
Willis Lease Finance Corporation leases spare commercial aircraft engines, rotable parts and aircraft to commercial airlines, aircraft engine manufacturers and overhaul/repair facilities worldwide. These leasing activities are integrated with the purchase and resale of used and refurbished commercial aircraft engines.
Contacts
Willis Lease Finance Corporation
Charles F. Willis, 415-275-5100
[headlines]
### Press Release ###########################
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News Briefs----
Fed, Bernanke take blistering flak
http://www.usatoday.com/money/markets/us/2006-06-06-bernanke-usat_x.htm
Dell to Upgrade Its Line of Server Computers
http://www.nytimes.com/2006/06/07/technology/07place.html?_r=1&oref=slogin
Hurricanes forced 350,000 to leave Louisiana
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/
060706dntexnucensus.17d3be2d.html
Annual Lessor Resources Showcase | Agenda At-A-Glance
Atlanta, GA | August 30-31 | Ritz Carlton, Buckhead
http://www.lessors.com/Events-2006/Fall/agenda.html
[headlines]
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You May have Missed---
Bank's manager of the year. 2006: Guilty of £21m bank fraud
http://www.timesonline.co.uk/article/0,,2-2214644,00.html
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“Gimme that Wine”
New York State will make $500,000 available to wineries and vineyards to improve their Web sites.
http://albany.bizjournals.com/albany/stories/2006/06/05/daily10.html
On Long Island, a Case for Respect
http://www.nytimes.com/2006/06/07/dining/07pour.html
Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas/\
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
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Restaurant Review
Casanova Restaurant
5th Street between Mission and San Carlos
Carmel, CA 93921
(831)625-0501
Open Every Day
Dinner 5:00 to 10:00
Lunch 11:30 to 3:00
This restaurant has many levels. It was originally purchased from the housekeeper for Charlie Chaplin, who bought this house many years ago for her. It has expanded to two levels, and several banquet rooms. One of the rooms holds the actual table Vincent Van Gogh ate on daily at his favorite restaurant in France. The owner was a fan and traded him food for art.
Great for lunch. Dinner, you better have a reservation!!! Also for weddings, events, groups-this is the place. Wonderful wine list. Great food-French-Provence-Italian-Spanish-Greek/fish/meat/pasta and an award winning wine list at reasonable prices. Service is outstanding. Great attitude by everyone from the wine captain down to the bus boys. Great atmosphere for both lunch and dinner. Casual, too.
Casanova's wine cellar was hand dug 14 feet under the restaurant in 1987. Walter Georis, one of the owners, has carefully developed the list to include a large variety of local and international wines. The cellar is now home to about 30 thousand bottles of wine, valued at over a $1.5 million plus is the annual recipient of the Wine Spectator Grand Award.
Visits to the wine cellar can be arranged through the Maitre D'.
Walter Georis is also a wine maker. He produces the Georis family Merlot from his winery in Carmel Valley. He grows roses here, too, which are also on the wine label.
Perhaps one of the best restaurant web sites, too:
www.casanovarestaurant.com/
(For other reviews: please go here:
http://two.leasingnews.org/Recommendations/rstrnt.htm 0
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Calendar Events This Day
Boone Day
Each year on June 7, the Kentucky Historical Society celebrates the anniversary of the day in 1767 when Daniel Boone reportedly first sighted the land that would become Kentucky. The date and event are probably fabrications, as most of Boone's life was made up by him, and historians, including writer John Filson, who wrote “The Adventures of Colonel Daniel Boone” with the date of the sighting.
Boone was involved in several ventures that went broke in his day. It was Fess Parker in Walt Disney's TV series that made Boone as famous as he is today rather than the reality when he was alive.
Malta: National Day
National Day or (in Maltese) Sette Giugno
National Tailor's Day
To honor tailors across the USS.
www.tomjamesco.com
Trial Technology Day
A day to mark the emerging technologies used for trails. www.doar.com
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Today's Top Event in History
1975-the Sony Corporation released its videocassette recorder, the Betamax, which sold for $995. RCA and other introduced the VHS format, selling originally for $1,295. The Betamax was cheaper and supposedly a better system, but Sony would not release the patent and more manufacturers produced VHS, making it cheaper and cheaper, and perhaps what happened to Apple not releasing its software to programmers and Microsoft giving it to software developers for free, happened as Sony stopped making Betamax. If your remember, people were saying the video tape would put the movie industry out of business---just as they are saying today the internet will put the retailers out of business. In reality, both were enhanced and the consumers became the winners. Today VHS has been replaced by the DVD.
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This Day in American History
1769-Daniel Boone arrives in Kentucky, celebrated today as “Boone Day.”
http://memory.loc.gov/ammem/today/jun07.html
( as stated by a relative here, many of the stories about Daniel Boone were invented and are not true; however, he was an American pioneer, nevertheless).
1777-The Second Continental Congress voted to replace the phrase “United Colonies” in all legislation with the phrase “ United States of America.” The Congress represented only twelve colonies at this date, Georgia not having sent delegates yet.
1816 -At Danville, Vermont, snow and sleet drifted to a depth of 20 inches. The higher elevations remained white the entire day. snow flurries were reported as far south as Boston, Massachusetts. Waltham, Massachusetts reported a low temperature of 33 degrees and New Haven, Connecticut had a low of 35 degrees.
1862- the first citizen of the United States to be hung for treason was Williams Bruce Mumford, a retired gambler. During the Civil War, Captain Theodorus Bailey was sent by Admiral David Glasgow Farragut to New Orleans, LA, where he hoisted the American flag over the min on April 28, 1862. After the troops left, Mumford tore down the flag. On May 1, General Benjamin Franklin Butler arrived in New Orleans with 2,000 troops and took possession of the St. Charles Hotel. A crowd gathered in front of it, among them Mumford, who boasted of his exploits in humbling the “old rag of the United States.” Mumford was arrested, tried under the direction of the provost marshal of the district of New Orleans, convicted, and hanged on June 7, 1862. We were serious about people who burned the American Flag in those days.
1860-As more Americans could read, the first mass-market paperback book was a fiction entitled: Malaeska: Indian Wife of the White Hunter, by Mrs. Ann S. Stephens. It was the trend then to hire writers, such as done for the Nancy Drew series, give them an outline and flat fee, no royalties. Mrs. Stephens had never left New York City, had never met an Indians. It was published by Irwin P. Beadle and Company, New York, and first advertised this day in the New York Tribune as “Beadle's Dime Novels No. 1.”
1862-Union General Benjamin Franklin Butler was hated in New Orleans and it perhaps started with this incident, which saw the first person hanged for treason, William Bruce Mumford, a retired gamble. During the Civil War, Captain Theodurs Bailey was sent by admiral David Glasgow Farrague to New Orleans, LA, where he hoisted the American flag over the mint on April 28, 1862. After the troops left, Mumford tore down the flag. On May 1, General Butler arrived in New Orleans with 2,000 troops and took possession of the St. Charles Hotel. A Crowd gather in front of it, among them Mumford, who boasted of his exploit in humbling the “old rag of the United States.” Mumford was arrested, tried under the direction of the provost marshal of the district of New Orleans, convicted, and hanged on June 7, 1862.
1864-BURGLAR ARRESTED written by Mark Twain for The San Francisco Daily Morning Call :John Richardson, whose taste for a cigar must be inordinate, gratified it on Saturday night last by forcing his way into a tobacconist's on Broadway, near Kearny street, and helping himself to fourteen hundred "smokes." In his hurry, however, he did not select the best, as the stolen tobacco was only valued at fifty dollars. He was congratulating himself last evening in a saloon on Dupont street, in having secured weeds for himself and all his friends, when lo! a Rose bloomed before his eyes, and he wilted. The scent of that flower of detectives was too strong even for the aroma of the stolen cigars. Richardson was conveyed to the station-house, where a kit of neat burglar's tools was found on his person. He is now reposing his limbs on an asphaltum floor - a bed hard as the ways of unrighteousness..
1887-revolutionizing printed, Tolbert Lanston of Washington, DC, received five patents for a monotype machine. The machine cast new type, letter by letter, from matrices that were used over and over again.
http://www.agfamonotype.co.uk/DynamicPage/View.cfm?PageName=tl_1844_94
1892-African-American GJ Sampson received patent for clothes dryer.
http://inventors.about.com/library/inventors/blwashingmachines.htm
1892—Wyoming, who recognized women's rights early ( perhaps to attract more women to the state), also became the first women to a national political convention. Therese A. Jenkins of Cheyenne, WY, and Cora G. Carleton of Hilliard, WY, were sent as alternate delegates to the 10 th Republican Party convention at Minneapolis, MN, on June 7-10, 1892.
1892-Homer A. Plessy refuses to move to segregated railroad coach in New Orleans, initiating Plessy v Ferguson.
http://www.watson.org/~lisa/blackhistory/post-civilwar/plessy.html
1897-Birthday of George Szell, Hungarian-born American conductor.
1902--birthday of trombonist Ed cuffee, Norfold, VA.
1906-birthday of bandleader Glen Gray, Roanoke,IL
http://www.lib.neu.edu/archives/collect/findaids/m31find.htm
1909-birthday of Virginia Apgar. Dr. Apgar developed the simple assessment method that permits doctors and nurses to evaluate newborns while they are still in the delivery room to identify those in need of immediate medical care. The Apgar score was first published in 1953 and the Prenatal Section of the American Academy of Pediatrics is named for Dr. Apgar. born at Westfield, NJ. Apgar died Aug. 7, at New York,NY.
1915-William Jennings Bryan resigned as secretary of state in a disagreement with President Woodrow Wilson over the wording of a second note to Germany. Robert Lansing was named acting scretary of state.
1917-birthday of Gwendolyn Brooks, poet and first African-American awarded a Pulitzer prize
http://www.math.buffalo.edu/~sww/brooks/brooks.html
1917- Birthday of singer/straight man and movie/tv star Dean Martin (Dino Crocetti), perhaps made more famous with Jerry Lewis and then part of the Frank Sinatra “Rat Pack.”.
1921-Guitarist Tal Farlow birthday
http://www.jazzguitar.com/features/talbook.html nStreet/5563/
http://www.myjazzhome.com/tal_2.htm
http://elvispelvis.com/talfarlow.htm
1930—The New York Times agreed to capitalize the word from n- to Negro.
1930-Gallant Fox, with jockey Earle Sande, became the second horse to win the Triple Crown. Trained by Sunny Jim Fitzsimmons, Gallant Fox won the Belmont Stakes by three lengths over Wichone in 2:31.3
1934-- country honky-tonk and ballad singer Wynn Stewart was born in Morrisville, Missouri. He is best known for his 1967 country chart-topper, "It's Such a Pretty World Today."
1940- singer Tom Jones was born in Pontypridd, Wales.
After building a reputation in London clubs, Jones was offered a recording contract in 1964. His first records weren't successful, but in 1965 he achieved international success with "It's Not Unusual," a song written by his manager, Gordon Mills. Jones next reached the top of the charts with the title song from the Peter O'Toole movie "What's New Pussycat?" He followed this with a series of country-flavored pop hits, among them "Green, Green Grass of Home," "Delilah" and "Love Me Tonight." Tom Jones became one of the biggest selling acts in Las Vegas, and had his own US network TV show for a few seasons.
He returned with much gusto in 1994 with a new image, a new label and a new record. Titled 'The Lead and How to Swing It', the ZTT (Trevor Horn's label) released disc featured the hit single 'If I Only Knew' and a duet with Tori Amos called 'I want you back'. Tom also covered the early 80s Yaz tune 'Situation'. 
1941-Whirlaway won the Belmont Stakes by 2 ½ lengths over Robert Morris to become the fifth horse to win the Triple Crown. Trained by Ben Jones for Calumet Farms and ridden by Eddie Arcaro, Whirlaway finished the Belmont in 2:31.
1942- It is not very well remembered today, but was very important to the building fear of the times when this day in 1942 the Japanese occupied the undefended island of Attu and the island of Kiska in the Western Aleutian, which was American territory. The capture was announced by the Navy on June 13. The islands were retaken by American Forces in May, 1943 is the only battle fought on U.S. soil during World War II.
1944-Birthday of 1944 guitarist Clarence White of the Byrds was born in Lewiston, Maine. After appearing as a session musician on recordings by such artists as Rick Nelson, the Everly Brothers and the Byrds, he became a permanent member of the Byrds in 1968. White remained with them until the group broke up in 1973. In July of that year, White was killed by a drunken driver in Lancaster, California, while he was loading equipment on to a van following a concert.
1950---Top Hits
My Foolish Heart - The Gordon Jenkins Orchestra (vocal: Eileen Wilson)
Bewitched - The Bill Snyder Orchestra
The Third Man Theme - The Guy Lombardo Orchestra
Birmingham Bounce - Red Foley
1953-Mary Church Terrell, political activist, wins struggle to end segregation in Washington, DC, restaurants.
http://www.npg.si.edu/exh/harmon/terrharm.htm
http://www.africana.com/Utilities/Content.html?&../cgi-bin/banner.pl?banner=
Education&../Articles/tt_1054.htm
http://www.americaslibrary.gov/pages/jb_0923_terrell_1.html
1953- Kukla, Fran (Allison) and Ollie, along with the Boston Pops Orchestra under the direction of Arthur Fiedler, were featured on the first network telecast in ‘compatible color'. The program was broadcast from Boston, MA.
1953--At age 90, Mary Church Terrell lead the struggle to end segregation in Washington DC restaurants, culminating at the Supreme Court. On June 8, 1953, the court ruled that segregated eating places in Washington, D.C., were unconstitutional.
http://www.cr.nps.gov/nr/travel/civilrights/dc2.htm
http://memory.loc.gov/ammem/aap/terrell.html
http://www.tnstate.edu/library/digital/terrell.htm
1954- Dodger catcher Roy Campanella steals home in the 12th in a 7-5 victory over the Cardinals.
1955--First President to appear on color TV (Dwight Eisenhower)
1958-Prince (Prince Roger Nelson) is born in Minneapolis. His biggest hit is "When Doves Cry," which tops Billboard's Hot 100 for five weeks and sells more than 2 million copies. On his 35th birthday in 1993 he changed his name to a symbol.
1958---Top Hits
The Purple People Eater - Sheb Wooley
Secretly - Jimmie Rodgers
Do You Want to Dance - Bobby Freeman
All I Have to Do is Dream - The Everly Brothers
1963- The Rolling Stones' first record, “Come On”, was released
http://personal.redestb.es/jmunoz/stones/comeon.html
1965-The executive committee of the American Football League met in New Jersey and voted to expand the league from eight teams to nine. Tow months later, the league awarded the expansion franchise to Miami for $7.5 million. The ownership group headed by Joe Robbie and entertainer Danny Thomas named its team the Dolphins.
1966---Top Hits
When a Man Loves a Woman - Percy Sledge
A Groovy Kind of Love - The Mindbenders
Paint It, Black - The Rolling Stones
Distant Drums - Jim Reeves
1968-The Grateful Dead and The Airplane at the Carousel Ballroom in San Francisco.
1969 - The rock group Blind Faith made its British debut at a free concert at London's Hyde Park. Over 100,000 fans attended what was called “the most remarkable gathering of young people ever seen in England.” The group was composed of Eric Clapton, Ginger Baker, Stevie Winwood and Rick Grech.
1969—The Johnny Cash Show premiered on television, CBS.
http://www.johnnycash.com/
1974---Top Hits
The Streak - Ray Stevens
Band on the Run - Paul McCartney & Wings
You Make Me Feel Brand New - The Stylistics
Pure Love - Ronnie Milsap
1975 --~ Thank God I'm a Country Boy, by John Denver hits #1.
1971-Carole King's album "Tapestry" goes gold. The album retains on the charts for three years and produces her biggest single, "It's Too Late".
1971-Elton John's album, "Captain Fantastic and the Brown Dirt Cowboy" enters the U.S. chart at #1 where it stayed there for seven weeks.
1972- The musical Grease opened on Broadway. It had been playing off-Broadway for about 4 months
http://www.geocities.com/TelevisionCity/Studio/8849/Moviemusicals/
Rydell/Grease.htm#stag
1974 - "The Entertainer", the original music from the motion picture "The Sting", earned a gold record for pianist and conductor, Marvin Hamlisch
1975-the Sony Corporation released its videocassette recorder, the Betamax, which sold for $995. RCA and other introduced the VHS format, selling originally for $1,295. The Betamax was cheaper and supposedly a better system, but Sony would not release the patent and more manufacturers produced VHS, making it cheaper and cheaper, and perhaps what happened to Apple not releasing its software to programmers and Microsoft giving it to software developers for free, happened as Sony stopped making Betamax. If your remember, people were saying the video tape would put the movie industry out of business---just as they are saying today the internet will put the retailers out of business. In reality, both were enhanced and the consumers became the winners. Today VHS is being replaced by DVD.
1976 - "The NBC Nightly News", with John Chancellor and David Brinkley, aired for the first time. The partnership lasted until Brinkley moved to ABC News. Chancellor then held the lone, anchor spot until retiring.
1982---Top Hits
Ebony and Ivory - Paul McCartney with Stevie Wonder
Don't Talk to Strangers - Rick Springfield
I've Never Been to Me - Charlene
Finally - T.G. Sheppard
1982-- Dodger first baseman Steve Garvey becomes only the fifth player in major league history to play in 1,000 consecutive games.
1984 -42 tornadoes touched down in the upper Midwest with 21 of them occurring in Iowa. An F4 tornado tracked 30 miles through Mahaska and Keokuk counties in Iowa, killing 2 people and injuring 51. The small town of Wright was practically wiped out. Barneveld, Wisconsin was devastated shortly before midnight as a F5 tornado chewed up the town. 90 percent of the town was damaged or destroyed, 9 people were killed, and 197 were injured.
1990---Top Hits
Vogue - Madonna
All I Wanna Do is Make Love to You - Heart
Hold On - Wilson Phillips
I've Cried My Last Tear for You - Ricky Van Shelton
NBA Finals Champions This Date
1978 Washington Bullets
Stanley Cup Champions This Date
• Detroit Red Wings
[headlines]
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Spring Poem
Shift
Up and down
A vertical vacuum
Floats the steel cage
Gulping twelve men a minute,
Dumping them into the silence of a deep pit.
Breeders of fire and stewards of furnaces,
Waiting in the silence of a deep pit.
Stanley Kimmel, “Kingdom of Smoke.”
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SuDoku
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
http://leasingnews.org/Soduku/soduko-main.htm
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