Leasing News
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Monday, June 15, 2009
Actress Helen Elizabeth Hunt born June 15, 1963 Culver City, California, winner of Academy Award for "As Good as it Gets," but best perhaps remembered for the TV series "Mad about You" (161 episodes, 1992-1999).
http://hunthelen.blogspot.com/
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Headlines---
Bulletin Board Complaint-up-date
Balboa Capital, Irvine, California
Bank Beat-Leasing Rates Are Going Up
Beige Book-Reflects Bank Problems
Leasing 102 by Mr. Terry Winders, CLP
Sale-lease back Transactions
Classified Ads---Help Wanted
New Hires---Promotions
Media for Employment
Leasing News Top Stories--June 8-June 12
Top Leasing Industry Influence-
---Granat/Steinberg/Teichman
Classified ads- Re-Seller / Sales
Franchise Group---Congress Promote More Lending
News Briefs---
The Recovery Will Take Another Year
Homeowner assoc. start foreclosures collect dues
Insurance Giant A.I.G. Takes Ex-Chief to Court
A Virtual Bank with Real Woes
Checkmate at the Yellowstone Club
You May have Missed---
California Nuts Brief---
Sports Briefs---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
Baseball Poem
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
######## surrounding the article denotes it is a “press release”
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Bulletin Board Complaint-up-date
Balboa Capital, Irvine, California
Phil Silva, President, Balboa Capital
(Photo: www.balboacapital.com)
Phil Silva, the relatively new president of Balboa Capital has emailed
Leasing News and spoken over the telephone that things have changed at Balboa. He also is trying to change the relationship with the news media, specifically Leasing News. Without his permission, his emails will not be printed, but the gist is he stated there is a change under his regime.
During this time of communication, Leasing News continued to get complaints from ex-Balboa brokers about their customers and vendors being called, from vendors being called, as well as other sales techniques they question. This one in particular, which appear
in "We get eMail," sent by a CDW sales representative.
It should be noted that it is a $1.00 purchase. Other complaints
center around Balboa Capital's use of "Evergreen Clauses" and
specifically $1.00 purchase options not being exercised in writing
180 days in advance or paperwork not being received, which is
the up-date of this complaint.
Mr. Silva received email regarding this, and follow-up emails and
follow-up telephone calls, but not a response as the question centered around his claim that things had changed in the way Balboa Capital
conducts business---but here the pursuit of what the lessee claims
is a $1.00 purchase option continues. No statement or comment
was received.
This goes back to an August, 25,2008 Leasing News Bulletin Board complaint about an "unsigned addendum" and despite the original proposal and the difficulty in forging such a document, Balboa Capital was claiming monthly rentals and fair market value.
Robert Moore received notice that Balboa Capital was taking him
to court. The emails and telephone calls to President Phil Silva
concerned an answer to the claim that things have changed
under his regime and Leasing News stated to him it looked
like he could talk the talk, but not walk the wall.
Robert Moore of Roseville, California was summed to a court trial and to "an answer or legal response" by July 17, 2008 at Harbor-Newport Beach Facility, 4601 Jamoree Road, Newport Beach, California (447 miles from Roseville, via Highway 99, Google says a 7 hour drive.
Balboa Capital Request to set Trial:
http://leasingnews.org/PDF/CW_20090608_0107pm_PST.pdf
August 25, 2008 Complaint:
http://www.leasingnews.org/archives/August%202008/08-25-08.htm#bbc
Current BBB rating:
http://leasingnews.org/PDF/bbb.pdf
"Complaints" Bulletin Board
http://www.leasingnews.org/bulletin_board.htm
California Finance Lender's License:
http://leasingnews.org/PDF/bbb_license.pdf
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Bank Beat-Leasing Rates Are Going Up
Banks are informing their leasing and finance clients that rates are going up. A major funder informed all brokers
and discounters on Friday:
"The 5-year Treasury yield has increased nearly 100 basis
points over the past month, which is in direct proportion to our cost of funds. Therefore, we find it necessary to increase
our buy rates accordingly. Effective Monday, June 15th rates
will increase by 50 basis points across the board."
Mortgage rates are approximately 6%, as the financial industry quandaries where it will wind up. Many believe the central bank will stand aside, allowing the market place to move the rates higher. Paying off a mortgage in the last few months has been viewed as a safer investment than plowing more money into markets.
The banks have been expanding these re-financing, and not
putting as many into new mortgages. They still have subprime mortgages, difficult commercial real estate loans, and even better credits are now slow pay due to unemployment.
Despite so-called Federal Government plans and new programs, the commercial real estate market finds many empty retail store property, business offices, and manufacturing facilities for rent.
Many banks have cut back on "new opportunity" loans and leases, and if they are going to continue "re-financing," they want to increase their margins as foreclosures have not slowed down.
RealtyTrac CEO James Saccacio said in a news release that bank repossessions were up 2% "thanks largely to substantial increases in several states, including Michigan, Arizona, Washington, Nevada, Oregon and New York.
Nevada, California, Florida and Arizona, in that order lead the foreclosure rate, as the foreclosure rate is the third highest of record.
How this affects the leasing industry can been seen in Marlin
Business Services SEC filing on the states where they are
getting their most business.
http://leasingnews.org/PDF/Marlin_2008_year_end.pdf
In California, one in every 144 properties received a foreclosure filing in May. A new state law may slow this statistic down as mortgage holders must meet new requirements. Florida was one in every 148 properties. Arizona one in every 158 properties. Nevada holds the record with one in every 64 properties. To give a better idea of these numbers, the state next in line is Utah with one in every 316.
Following the top four, in order, are Michigan, Ohio, Illinois, Georgia, Texas and Virginia. In population of 200,000 or more, Las Vegas is seven times the national average, one in every 54.The metro area saw foreclosure filings reported on 14,681 properties in May.
It can be assumed the area is overbuilt and having great financial difficulties. It affects business growth and therefore all financing
of equipment. Leasing is popular with business expansion and
growth. The areas are seeing less of this.
As the commercial real estate finds more empty stores and other
locations, perhaps indicating being overbuilt, it adds to the bank
woes that understand that the one time collateral is no longer
worth the appraised price of a few years ago. This is not as
apparent yet, as it is in consumer real estate.
It appears the forecasting of the economy in January was not accurate, in fact, economists are saying it was in reality worse
than they originally projected. Unemployment with city, counties,
and state governments as well as industry is adding to the woes,
with the hope the stimulus will begin to see some results by this
fall.
List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html
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Beige Book-Reflects Bank Problems/Mortgage Foreclosures
See how your area that you service is doing, and also see
the comments regarding the top ten states in foreclosures.
"Reports from the twelve Federal Reserve District Banks indicate that economic conditions remained weak or deteriorated further during the period from mid-April through May. However, five of the Districts noted that the downward trend is showing signs of moderating."
By District:
Boston
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/1.htm
New York
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/2.htm
Philadelphia
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/3.htm
Cleveland
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/4.htm
Richmond
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/5.htm
Atlanta
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/6.htm
Chicago
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/7.htm
St. Louis
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/8.htm
Minneapolis
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/9.htm
Kansas City
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/10.htm
Dallas
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/11.htm
San Francisco
www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/12.htm
Full Report
http://www.federalreserve.gov/FOMC/BeigeBook/2009/20090610/FullReport.htm
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Leasing 102
by Mr. Terry Winders, CLP
Sale-lease back Transactions
In a year where profits are rare and companies are looking for some method to improve bottom line performance some are approaching leasing companies to arrange a sale-lease back. If an asset retains useful life and has a value above its book or tax un-depreciated value then by selling it to a leasing company and passing title but retaining possession, and use, the lessee can book a gain on the sale of a capital asset and improve its bottom line.
The key is the selling price. It needs to be high enough to warrant the work necessary to arrange the transaction. Plus the customer needs to understand both the book and tax effect of the gain. The transaction will in most cases be a capital lease and have a double impact on the balance sheet. The sale cash will increase cash on the balance sheet plus the net present value of the rent stream will be placed as a leased asset. The un-depreciated asset value will come off the balance sheet. Net worth will increase and the net present value of the rent stream will become a lease liability. The difference between the un-depreciated book value and the sale value will show up as a gain on the sale of a capital asset however a recapture of income tax will be required on the difference between the un-depreciated tax value and the selling price. On occasion an operating loss may shelter any tax requirements making the profit more important because it is tax free.
A Sale Lease-back is a lease where the equipment is purchased from the Lessee instead of an equipment vendor. The Lessee retains the possession and use of the equipment, after the sale, but surrenders legal title and ownership to the Lessor. An appraisal of the equipment is necessary to show the Lessor is acquiring the asset(s) at its then Fair Market Value to avoid "fraudulent connivance claims" from other creditors.
When the Asset is sold to the Lessor it must be free of liens requiring the Lessor to check for liens recorded on financing statements (UCC-1) in the State where the lessee has registered his Charter papers and then you should require proof of purchase from the Lessee to establish their clear ownership.
To complete the sale it is recommended that the Lessor take possession of the Asset along with a "bill of sale". If no possession is registered perhaps a disgruntled creditor would argue that "no possession, no sale" because the equipment never left the customer's facilities. Most States require possession to complete the sale. Occasionally equipment is too large, or hard to move, so standing next to the equipment (with your hands on it) and have your picture taken and will help prove you took possession.
In a Sale-Lease-Back the lessee has to look to the cost. If assets are free and clear of liens then they could use it as collateral and borrow any required cash for operations. In a sale lease-back the gains and the tax effect plus the sales tax on the rentals may make it a very expensive way to borrow cash. Therefore a sale lease-back to raise cash is a very poor reason but it is the one we hear most often. Now we are hearing that the cost is offset by the ability to show a better return and keep the company alive.
It is important to dig deep into the financials of any company wanting a sale lease back because the reasons for the request usually indicate a poor financial position.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666.
He invites your questions and queries.
Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm
(This ad is a "trade" for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)
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Classified Ads---Help Wanted
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VENDOR SALES SPECIALISTS
LEASING SALES PROFESSIONALS
Like selling vendor programs and large transactions?
Enjoy international financing programs?
Prefer the advantages of a commission only environment with the security of health and welfare benefits?
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[headlines]
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New Hires---Promotions
Alan Collier was named managing director of Mosaic Capital, Sherman Oaks, California. He previously was vice-president of Corporate Capital Group, LLC and Managing Director of Greenbridge Capital. He was president and founder of Totalfunding.com, one of the first internet aggregate companies.
Larry Hegeman has returned to the leasing business, joining Kingswood Leasing Inc., Wolfeboro Falls, New Hampshire as a sales account executive. He previously was with People's Bank Leasing Group, Waterbury, Connecticut, and Alter Moneta, who were purchased by the HSBC Leasing Group. Prior to this he was National Sales Manager at Bombardier. HE left the leasing industry to try
real estate for several years, but reports he ran across Kingswood Leasing,"… a very successful vendor finance company that does extensive financing in the restaurant industry. , I will be charged with increasing direct calling efforts on truck and construction equipment dealers and area transportation companies."
Doug Houlihan has started Maxim Commercial Capital, LLC. He formerly long time sales manager with Allegiant Partners, San Rafael, California, where he remains a stockholder. He reports his company has already funded a couple million dollars and is excited about the opportunities in this market with our access to capital and no toxic balance sheet to weigh us down.
http://www.leasingnews.org/PDF/NAELB.pdf
Doug McCarthy has joined Latitude Equipment Leasing, Marlton, New Jersey, to man the Milwaukee, Wisconsin sales office. He reportedly has 25 years experience in the finance industry.
Timothy Morse has moved from Altera, San Jose, California as CFO to become Yahoo's CFO, in nearby Sunnyvale, California, charge of company's finance, investor relations and mergers and acquisitions groups and will report to Yahoo!'s CEO Carol Bartz. Morse, 40, will start at Yahoo with a $500,000 salary ($375,000 was his
salary at Altera.) Yahoo also is paying him a $500,000 signing bonus, 400,000 shares of stock options and 150,000 shares of restricted stock. He is reported in Leasing News as he was with GE for 15 years, where he had a reputation for following Jack Welch philosophy of cutting. If ten people were in a group, he would cut it to 7 to due the work of 10, and when they happened, it cut it again to 5.With the over bureaucracy reported at Yahoo, he will be worth every penny he gets for doing the job he learned at GE. Altera, an international semiconductor company, says they will miss him as he was making a major difference at their company.
http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=389254
Michael A. Petruski was hired as Senior Vice President of Advisory & Valuation Services, Great American Group, Woodland Hills, California. He previously served as the Director of the Collateral Evaluation Group at Wachovia Capital Finance, a Wells Fargo Company. Prior to Wachovia, he was the Vice President of Collateral Evaluations at Citigroup's Structured Finance Division. He also is a former executive with the American Can Company. As a collateral expert, Michael led and participated in ABL appraisal panels for the Commercial Finance Association, the American Society of Appraisers and the Association of Machinery and Equipment Appraisers. He will be based in Great American Group new office in Charlotte, North Carolina.
Connie Schmidt appointed National Vice President of Sales, Graphic Savings Group, Brooklyn, New York. She has 17 years experience in leasing, served in a number of roles with Bank of America Leasing, most recently as Regional Vice President of Sales where she managed territories on both the East and West Coasts. She received a BS from Central Michigan University.
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Media for Employment
Leasing News has on its web site and brings to its news edition
monthly the web sites for both employers and employees. Leading
the list is Craig's List.
Not only has this program affected all classified ads from local
services, products for sale, but employment, including executive
positions. Readers have reported their children, neighbors, and friends
have found $70,000, $100,000 and $120,000 a year jobs via
Craig's List.
accountingweb.careerbank.com
www.adams-inc.com
www.affinitysearch.com
www.aol.com
www.bajobs.com
www.BayJobs.com
www.careerbank.com
www.careerbuilder.com
www.careerpath.com
www.careerjet.com
www.careerjet.com
www.craigslist.org (available in many cities now, use scroll feature)
www.credittoday.com
ELFA Career Center
www.elaonline.com
www.FinanceLadder.com
www.goldenparachute.com
www.Headhunter.net
www.hotjobs.com
www.jobs.net
www.jobsearchusa.org
www.JobSpin.com
www.jobsinthemoney.com
www.leasingworld.co.uk
www.lessors.com
www.MarketingJobs.com
www.monitordaily.com
www.monster.com
www.monstertrak.monster.com/
www.Postonce.com
www.RecruiterConnection.com
www.resumeblaster.com
www.theleasebog.com
www.vault.com
www.vetjobs.com
www.worktree.com
www.worldleasingnews.com
When Leasing News first put Craig's List on line it was only
available in the San Francisco Bay Area, and then expanded
to other cities and other areas.
When Leasing News advertised for a new web master on Craig's List,
over 600 applications replied in the first week. Michael Garcia
working out of San Francisco was hired, primarily from his recommendations and experience in Bakersfield,
As the internet expands in its services, the news media industry
is changing with the use of portable telephone, internet, video
devices, and what started out as "blogs" have become world
wide web programs such as Facebook, now a $10 Billion Company
Facebook, still a private owned company, sold a few days ago 1.96% of its capital to the Russian internet firm Digital Sky Technology's (DST), for $200 million.
In 2007, Facebook sold 1.6% to Microsoft for $240 Million.
Facebook has more than 200 million active users,
Google's initial public offering took place on August 19, 2004 and gave Google a market capitalization of more than $23 billion.
Google's market value is today a $134 billion.
Time Warner $31 billion.
News Corporation, $27 billion.
Yahoo, $22 billion.
And The New York Times, $905 million.
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Leasing News Top Stories--June 8-June 12
Here are the top ten stories opened by readers:
(1) Churchill Group/Churchill Leasing, Jericho, NY
Bulletin Board Complaint
http://www.leasingnews.org/archives/June%202009/06-10-09.htm#BulletinBoard
(2) Correction-
Remembering Leah Marks/Wear Your Seat Belt
http://www.leasingnews.org/archives/June%202009/06-05-09.htm#jewishfoundation
(3) FBI Seize Otto Company Jet
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#fbiactive
(4) Ex-Popular Salesmen Start New Leasing Business
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#expopular
(5) Sales makes it Happen-by Scott Wheeler
Taking "Only" out of "Application Only"
http://www.leasingnews.org/archives/June%202009/06-10-09.htm#salesmakeithappen
(6) Country Leasing Closing its Doors
http://www.leasingnews.org/archives/June%202009/06-10-09.htm#countryleasing
(7) Leasing Employment Bottoms Out?
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#leasingemployment
(8) (Tie)
Ben Millerbis, CLP Exclusive Interview: HL Leasing
http://www.leasingnews.org/archives/June%202009/06-10-09.htm#clpexclusive
(8) (Tie)
Lakeland Bank takes $9.5M hit on lease portfolio
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#lakeland
(8 (Tie)
Leasing Industry Influence-Two New Nominees
http://www.leasingnews.org/archives/June%202009/06-08-09.htm#influence
(9) 25 Top Leasing Industry Influence-35 nominated
http://www.leasingnews.org/archives/June%202009/06-10-09.htm#35nominated
(10) What is a "rotation lease?"
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#rotationlease
(Leasing News provides this ad "gratis" as a means
to help support the growth of Lease Police)
[headlines]
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Top Leasing Industry Influence-Granat/Steinberg/Teichman
"Influential" as "a person whose actions and opinions strongly influence the course of events" {Online Dictionary}. They
must be alive, and do not need to be active any longer in
the leasing or finance industry.
Please Send nominations to: kitmenkin@leasingnews.org
New nominees to appear in the next list:
Harvey Granat-The founder and CEO of Granite Equipment Leasing Corp., an American Stock Exchange listed company, which he ran as a financial services company for sixteen years. He also was
president and CEO of Sussex Leasing Corp., and he also founded and served as the President and Chief Executive Officer of Sterling/Carl Marks Capital, Inc. Past President and Director of The American Association of Equipment Lessors, the equipment leasing industry's association. Past Chairman of The National Association of Small Business Investment Companies (NASBIC) and continues to serve on its Executive Committee. He also received the 1995 Entrepreneur of the Year Awards sponsored by Ernst & Young, INC Magazine. He is a frequent lecturer and contributor of articles related to financial services, and has participated at the White House Conference on Small Business.
http://www.csgfin.com/bio_granat.html
Saul Phillip Steinberg -Born Brooklyn, August, 1939 is a Jewish American businessman who first became wealthy in the 1960s by leasing IBM computers. He proved so creative at the practice that his company, Leasco, became valuable enough in 1968 for him to use its stock to buy Reliance Insurance, a 150-year-old Philadelphia firm. He was just 29 years old. At the time, Forbes reported that he made more money on his own that year than anyone else in America under 30. Steinberg used Reliance as his base of operations. In 1969, he mounted a takeover of Chemical Bank, then one of the nation's largest financial institutions. Chemical and its allies in the establishment beat him back. President Nixon personally called Steinberg to dissuade him from continuing with his acquisition. In a now famous quote in Business Week, Steinberg said, "I always knew there was an Establishment ... I just used to think I was a part of it." For the next 30 years Steinberg used Reliance, and its steady cash flows, to finance numerous acquisitions and attempted acquisitions, including Flying Tigers, Days Inn, Telemundo, Frank B. Hall, Pargas, and the Disney Company.
http://en.wikipedia.org/wiki/Saul_Steinberg_(business)
Robert Teichman, CLP--Bob has probably instructed more currently influential people in the equipment leasing industry than any other individual. He has given and participated in an incalculable number of seminars and workshops under the auspices of UAEL (nee WAEL) and NAELB. Since the inception of the CLP program which he was instrumental in developing, he has been a primary instructor of classes for those preparing to take the CLP exam. These accomplishments and many more were recognized at the 2009 NAELB Annual Meeting where he received a commemorative trophy recognizing him as the "Leasing News" Equipment Leasing Person of the Year.
Bob's bio listing his many other accomplishments runs to multiple paragraphs and I am sure that as chairman of your Advisory Board, you have a much more complete and current list than I do. I cannot imagine anyone who has had a greater positive influence on the industry by raising the educational bar and thus raising the performance level of the entire industry. He should be at the top of your list.
http://www.leasingnews.org/Advisory%20Board/Teichman_Bob.htm
June 15
List (click on name for full description:)
Jim Adler
Sudhir P. Amembal
A.J. Batt
Joe Bonnano, CLP
Bernie Boettigheimer, CLP
John P. Colton
Clark Covert
John C. Deane
Thomas Depping
Michael J. Fleming
Al Gamper, Jr.
Paul Gass
J. Stephen (Steve) Gagne
Bruce Kropschot
John Kruse
Paul A. Larkins
Elaine Litwer
Charlie Lester
Lisa A, Levine
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Curt Lysne, CLP
Barry Marks, CLP
Dan Michalek
Jim Merrilees, CLP
Paul Menzel, CLP
Ben Millerbis, CLP/Brad Peterson
Alan J. Mogol
Ned Mundell
Deborah Monosson
David Murray
Walter Rabin
Jim Renner
Gary Shivers
Robert W. Stubbs
Ron Wagner, CLP
Paul Weiss
David Wiener
Mr. Terry Winders, CLP
Joe Woodley, CLP
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Classified ads- Re-Seller / Sales
|
Re-Seller: Orem, UT
CVI is an asset recovery company that collects on accounts,repossesses equipment and remarkets throughout the united states. For more information call David at
801-765-9939
E-mail:canyonviewinc@juno.com |
Sales: Glen St. Mary, FL
Southeast Sales Rep,To Promote Specialty Pasture-Turf Agricultural Equipment. Will Find Aggressive Dealers and Locations. North Florida Area Between 2 Major Interstate.
E-mail: kenneth@thompsonaeration.com |
Sales: Seasoned and fair priced workforce (Nationwide) is at your service for all lease collections, repossessions, and asset liquidations, appraisals. Call Nassau Asset Management 800-462-7728 dcastagna@nasset.com |
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Leasing Industry Outsourcing
(Providing Services and Products)
All "Outsourcing" Classified ads (advertisers are both requested
and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
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### Press Release ##########################
Franchise Group Asks Congress to Promote More Lending
WASHINGTON, America's small businesses offer the best opportunity to promote a strong economic recovery by sustaining and creating jobs, but more needs to be done to promote capital access to create new businesses and to keep existing businesses growing, the International Franchise Association said today.
"The current credit crisis is keeping America's entrepreneurs on the sidelines and the negative impact this is having on our country's economy could not be more real," Lawrence "Doc" Cohen, a franchisee of the Great American Cookie Company, told members of the House Small Business Committee. "Small businesses are struggling to access the capital needed to stay open, pay debts, maintain payroll and expand operations. The problem is worse for those looking to get into business for themselves for the first time."
Cohen, former chair of the IFA, is founder and CEO of DOC & Associates based in Tomball, Texas and a leading franchisee of the Great American Cookie Company. He is one of many examples of entrepreneurs who have founded and grown successful businesses because of solid access to credit. Cohen started his company over 30 years ago when there was a functioning credit market, including the Small Businesses Administration (SBA) loan guarantee program. The SBA loan program helped him initially to grow his franchise business, which today includes 30 stores in the Houston area, employing almost 300 people.
Cohen told committee members that despite his business success and many years of strong partnerships with lenders to grow his business, last year he was forced to take on additional personal risk to open two new stores creating 74 new direct jobs because the recession was creating unacceptable and prohibitive loan terms. He explained that it was unlikely that he will open additional stores until the restrictions on credit are eased and until small business regains its ability to access the capital necessary to fuel expansion and growth.
"I would suggest that the solution to adequately addressing the economic struggles facing small businesses is for the federal government to promote more lending-not more federal government spending," he said. "As shown in my experiences and the hundreds of thousands of small franchised businesses in every local community, lending leads to more sustainable and renewable job growth and economic recovery."
Capital investments in small businesses create jobs, and according to the SBA, small businesses have created 60 to 80 percent of new jobs annually over the last decade. The findings of the recently released study, Small Business Lending Matrix and Analysis , prepared for the IFA Educational Foundation, support the notion that meaningful economic recovery and meaningful job creation will start with small business lending. In fact, the study determined that for every $1 million in new small business lending, the franchise business sector would create 34 jobs and generate $3.6 million in economic output.
Cohen said that the franchise business community recommends that Congress consider the following steps to make it easier for entrepreneurs to access capital and create jobs:
o Make further changes, even temporarily, to SBA programs including increases in the dollar amounts for SBA 7(a) loan guarantees to accommodate the needs of larger- and intermediate-sized small businesses. Congress should increase the standard 7(a) maximum loan limit from $2 million to $4 million and increase the maximum guarantee amount provided to $3.6 million,
o Consider examining a market-based loan pricing model for the SBA loan programs,
o Look at new ways to stimulate small business lending so that funds are available for business start-up and expansion, including reserving a portion of the available loan proceeds solely for business start-ups and expansion, and
o Entirely rescind the SBA's newly established cap of $250,000 on goodwill financing while data is gathered to determine if any changes are needed.
Cohen concluded that franchised businesses play an important role in the economic health of the U.S. economy, and they are poised to help lead the economy on the path to recovery. An IFA Educational Foundation report shows that the franchise industry consistently outperforms the non-franchised business sector, creating more jobs and economic activity in local communities across the country. Franchising grew at a faster pace than many other sectors of the economy from 2001 to 2005, expanding by more than 18 percent. During this time, franchise business output increased 40 percent compared to 26 percent for all businesses.
"The message is clear, provide small business entrepreneurs and franchisees with access to capital, and we will create jobs," he said.
About The International Franchise Association
The International Franchise Association, the world's oldest and largest organization representing franchising, is the preeminent voice and acknowledged leader for the industry worldwide. Approaching a half-century of service with a growing membership of more than 1,250 franchise systems, 10,000-plus franchisees and more than 500 firms that supply goods and services to the industry, IFA protects, enhances and promotes franchising by advancing the values of integrity, respect, trust, commitment to excellence, honesty and diversity. For more information, visit the IFA Web site at www.franchise.org.
### Press Release ############################
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News Briefs----
The Recovery Will Take Another Year
http://www.forbes.com/2009/06/12/jacquemin-credit-cards-intelligent-investing-short.html?feed=rss_popstories
Homeowner associations start foreclosures to collect dues
http://www.usatoday.com/money/economy/housing/2009-06-11-homeowner-association-foreclosures_N.htm
Insurance Giant A.I.G. Takes Ex-Chief to Court
http://www.nytimes.com/2009/06/15/business/15aig.html?ref=business
A Virtual Bank with Real Woes
http://www.nytimes.com/2009/06/15/business/15views.html?ref=business
Checkmate at the Yellowstone Club
http://www.nytimes.com/2009/06/14/business/14yellow.html?em
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You May have Missed---
What will $400,000 buy today?
http://www.bankrate.com/finance/real-estate/what-will-400-000-buy-today.aspx
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Sports Briefs----
Kobe Bryant, Lakers capture 15th NBA title
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/06/11/sports/s194703D07.DTL
For Disappointed Fans, Consolation in Magic's Youth
http://www.nytimes.com/2009/06/15/sports/basketball/15magic.html
Mike Martz speaks on Alex Smith
http://www.examiner.com/x-2712-San-Francisco-49ers-Examiner~y2009m6d14-Mike-Martz-speaks-on-Alex-Smith
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California Nuts Briefs---
Deadline day for state leaders to close deficit
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/14/MNMK186EV1.DTL&tsp=1
Without a budget, California could issue IOUs
http://www.sacbee.com/topstories/story/1944954.html
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“Gimme that Wine”
Jean Hugel, Alsace Winemaker, Dies at 84
http://www.nytimes.com/2009/06/12/world/europe/12hugel.html?ref=dining
A Fresh Approach to Designating New Appellations
http://wine.appellationamerica.com/wine-review/710/New-AVA-approach.html
Online Tasting Reservation System Works 24/7
http://www.winesandvines.com/template.cfm?section=news&content=65211&htitle=Online%20Tasting%20Reservation%20System%20Works%2024%2F7
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
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/
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Today's Top Event in History
1779 - General Anthony Wayne captured Stony Point, New York, from the British. "I'll storm the Gates of Hell if you will but plan the attack," Wayne told Gen. Washington.
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This Day in American History
1215-King John officially “sealed the Magna Carta “in the meadow called Ronimed between Staines. This document is the first charter of English liberties and one of the most important documents in the history of human freedom. Four original copies of the 1215 charter survive.
1607 - Colonists in North America completed James Fort in Jamestown.
1686 -In Boston, the King's Chapel was organized. It was the first Anglican church established in colonial New England.
http://www.kings-chapel.org/
http://www.ci.boston.ma.us/freedomtrail/kingschapel.asp
http://travel.yahoo.com/p-travelguide-1245504-king_s_chapel_boston-i
http://www.centaurgalleries.com/Main/Item.cfm?ItemNo=03946
1752 - Benjamin Franklin affixed an iron wire to a kite and proceeded to fly it from a long piece of twine tied to a silk ribbon. Where the twine met the silk, Franklin attached a metal key. His thesis was any overhead electricity would be attracted to the wire at the top of the kite. As it began to lightning, he placed his hand near the key and sparks shot out; proving his experiment a success. Franklin used this discovery to start a new business selling and making lightning rods. The rods were attached to the tops of buildings. A wire ran down the side of the structure to the ground. When lightning struck the top of the rod, it ran down the wire and safely to ground without doing damage to the building. His letter to Peter Collison dated October 19,1752, describing his experiments was read before the Royal Society of London in December, 1752.
1775- The Second Continental Congress chose George Washington commander in chief of the Continental Army. He declined to accept pay for his services, but in 1783, after eight years of war, submitted records of his expenses totaling 24,700 pounds, roughly over $125,000, $15,625 to feed, clothe, and provide food and transportation for his army of men.
[detail of 1780 portrait by Charles Willson Peale (1741–1827)
http://www.safran-arts.com/42day/history/h4jun/15gwpeal.jpg
1779 - General Anthony Wayne captured Stony Point, New York, from the British. "I'll storm the Gates of Hell if you will but plan the attack," Wayne told Gen. Washington.
1789- Josiah Henson, abolitionist, author born in Charles County, Maryland. His autobiography, The Life of Josiah Henson (1849) was read by Harriet Beecher Stowe and inspired her best-selling novel, Uncle Tom's Cabin.
http://www.spartacus.schoolnet.co.uk/USAShenson.htm
http://authors.aalbc.com/josiah.htm
http://www.msdmv.k12.in.us/mvjhs/staff/Teacher's%20Web%20Sites/Orisky/third.html
1804- the 12th Amendment to the Constitution was ratified. It changed the method of electing the president and vice president after a tie in the Electoral College during the election of 1800. Rather than each elector voting for two candidates with the candidate receiving the most votes elected president and the second-place candidate elected vice president, each elector was now required to designate his choice for president and vice president, respectively.
1835-Adah Isaacs Menken - U.S. poet and one of the most notorious actresses on the international stage. The part that made her (in) famous was when she was bound, nearly naked, to the back of a horse that galloped about the stage. She fascinated a number of famous men including Mark Twain and Charles Dickens.
“Life in the mining towns of the far West was boisterous and extravagant in 1867. The height of fun and games was achieved in Virginia City, Nevada, site of the fabulous Comstock Lode, in the period from 1860 to 1880. The town had more than 100 saloons, five legitimate theaters, six variety houses, and other establishments such as dance halls. The single most popular performer was Adah Isaacs Menken, known for performing while clad only in a flimsy gown.” The actress and equestrienne Adah Menken was a brilliant self-publicist, and though her fame didn't last, she was very well known in her day. She shocked the public in the 1860s with her short hair, short skirts and decadence. She once gave a press conference lying in a short skirt on a tiger-skin, sipping champagne and smoking a cigarette (smoking was still considered rather daring for a woman). Adah Menken was quick to see the promotional potential of photographs in her campaign to make herself famous. She distributed a prolific number of publicity portraits such as this one. She was particularly keen to get herself photographed with famous men of the day, and managed to persuade the novelist Alexander Dumas and the poet Algernon Charles Swinburne to pose with her. The picture of herself and Swinburne, taken at an informal meeting, was then rushed off to a photographic studio so that it could be reproduced and sold in the street. Swinburne was reportedly furious.
http://www.judaicacollection.com/images/menken.jpg
http://www.us-israel.org/jsource/biography/AMenken.html
http://lsm.crt.state.la.us/painting/baker2.htm
http://www.cadytech.com/dumas/related/la_belle_menk
http://www.peopleplayuk.org/collections/object.php?search_result=true&object_id=318&
back=%2Fcollections%2Fdefault.php%3Fsearch_name%3Dobject_category_search%26a
mp%3Brun_search%3Dtrue%26amp%3Bcobject_type%3D33%26amp%3Bctab%3D
17 en_by_stoddard.php
http://www.gabrielleray.150m.com/ArchivePressText/20021207.html
1836- Arkansas became the 25th state this day in 1836. The Land of Opportunity as Arkansas is called, was founded in the late 17th century by Frenchman Henri de Tonti. His interpretation of Quapaw, the Indian tribe that lived in the area, was Arkansas. Little Rock, the state’s largest city is also its capital. The state bird and the state flower are the mockingbird and apple blossom, respectively.
1844 - Inventor Charles Goodyear received a patent for vulcanizing rubber. Prior to this no one knew how to keep natural rubber from melting in the summer and hardening in the winter. Reputedly Goodyear discovered the process by accident, after years of experimentation, when he dropped some rubber mixed with sulfur on a hot stove. The resulting substance resembled charred leather, but was still resilient and elastic. Goodyear called the process "vulcanization," after the Roman God of Fire, Vulcan. He had received a previous patent on June 17, 1837, for a method of destroying the adhesive properties of rubber by applying bismuth, nitric acid with copper or other materials.
1846-The Oregon Treaty with Great Britain was signed. It established the 49th parallel as the boundary between the U.S. and the British Northwest territory. Idaho, Oregon, Washington, and part of Montana became undisputed U.S. territory. This was a compromise from the campaign slogan of Polk in 1844: “Fifty-four Forty or Fight.” Canada was granted navigation rights to part of the Columbia River, south of the 49th parallel.
1846 - Representatives of Great Britain and the United States sign the Oregon Treaty, which settles a long-standing dispute with Britain over who controlled the Oregon territory. The treaty established the 49th parallel from the Rocky Mountains to the Strait of Georgia as the boundary between the United States and British Canada. The United States gained formal control over the future states of Oregon, Washington, Idaho, and Montana, and the British retained Vancouver Island and navigation rights to part of the Columbia River.
After 1838, the issue of who possessed Oregon became increasingly controversial, especially when mass American migration along the Oregon Trail began in the early 1840s. American expansionists urged seizure of Oregon, and in 1844 Democrat James K. Polk successfully ran for president under the platform "Fifty-four forty or fight," which referred to his hope of bringing a sizable portion of present-day Vancouver and Alberta into the United States. However, neither President Polk nor the British government wanted a third Anglo-American war, and on June 15, 1846, the Oregon Treaty, a compromise, was signed. By the terms of the agreement, the U.S. and Canadian border was extended west along the 49th parallel to the Strait of Georgia, just short of the Pacific Ocean.
1863 - President Abraham Lincoln calls for help in protecting the capital. Throughout June, Confederate General Robert E. Lee's Army of Northern Virginia was on the move. He had pulled his army from its position along the Rappahannock River around Fredericksburg and set it on the road to Pennsylvania. Lee and the Confederate leadership decided to try a second invasion of the North to take pressure off Virginia and to seize the initiative against the Army of the Potomac. The first invasion, in September 1862, failed when the Federals fought Lee's army to a standstill at Antietam. Lee later divided his army and sent the regiments toward the Shenandoah Valley, using the Blue Ridge Mountains as a screen. After the Confederates took Winchester, Virginia, on June 14, they were situated on the Potomac River, seemingly in a position to move on Washington, D.C. Lincoln did not know it, but Lee had no intention of attacking Washington. All Lincoln knew was that the Rebel army was moving en masse and that Union troops could not be certain as to the Confederates' location. On June 15, Lincoln put out an emergency call for 100,000 troops from the state militias of Pennsylvania, Maryland, Ohio, and West Virginia. Although the troops were not needed, and the call could not be fulfilled in such a short time, it was an indication of how little the Union authorities knew of Lee's movements and how vulnerable they thought the Federal capital was.
1864-During the Civil War, Ulysses S. Grant’s Army of the Potomac and Robert E. Lee’s Army of Northern Virginia collide for the last time when the first wave of Union troops attack Petersburg, a vital Southern rail center thirty-seven kilometers south of the Confederate capital of Richmond, Virginia. The two massive armies would not become disentangled until April 9, 1865, when Lee surrendered and his men went home.
1877- Henry Ossian Flipper, born a slave in Thomasville, Georgia, in 1856, becomes the first African-American cadet to graduate from the US Military Academy at West Point, New York. Flipper, who was never spoken to by a white cadet during his four years at West Point, is appointed a second lieutenant in the all-African-American 10th Cavalry, stationed at Fort Sill in Indian Territory.
1880-Birthday of blind singer/violinist Alfred Reed, Floyd City, VA
http://ubl.artistdirect.com/music/artist/bio/0,,483645,00.html?artist=Blind+Alfred+Reed
http://www.fortunecity.com/tinpan/parton/2/explo.html
http://www.camsco.com/artists/reed.html
http://www.earfloss.com/page12_2459_a.html
1885-Birthday of Malvina Cornell Hoffman - U.S.sculptor. Internationally admired, MCH received the largest sculptural commission ever given to man (or woman). It consisted of 110 life-sized bronze statues for the Hall of Man, Field Museum, Chicago. She studied with Rodin in Paris (after being turned away five times) and made a series of sculptures interpreting dance. Her forte was portraiture busts. Her mother was a talented amateur pianist.
http://www.getty.edu/research/conducting_research/finding_aids/hoffman_m4.html
http://www.nationalacademy.org/perm/hoffman2.html
http://www.sandycline.com/sculpture/malvhoff4.html
1887-Henry O Flippea became the first Black graduate of West Point.
1896 - The temperature at Fort Mojave, CA, soared to 127 degrees, the hottest reading of record for June for the U.S. The low that day was 97 degrees. Morning lows of 100 degrees were reported on the 12th, 14th and 16th of the month.
1898-Annexation of Hawaii was approved in a joint resoultion adopted by teh House of Representaives, and by the Senate on June 17. It was signed by President McKinley on July 7.
1901—Birthday of co-founder of Decca records Jack Kapp, one of the first to record Black music, including Jazz artists. Died March 25,1949.
http://www.kcmetro.cc.mo.us/pennvalley/biology/lewis/crosby/jackapp.htm
1909- Benjamin F. Shibe of Bala, PA, obtained a patent for a baseball with a cork center. It was first manufactured by A.G. Spalding and Brothers, Chicago, IL, and was used in occasional league games in 1909 and in regular play in 1910. The ball was first used in a World Series game on October, 20, 1910, in Chicago, IL. Sorry, don’t know who was playing whom. If you find out, please let me know with a footnote to authenticate your source. 1934-Great Smoky Mountains National Park established. Area along southern section of Tennessee—North Carolina boundary was authorized May 22,1926, established for administration and protection only Feb. 6,1930, and finally established for full development as a national park in 1934.
1917—The first army training camp for African-American officers was established at Fort Des Moines, Des Moines, IA, and was known as the 17th Provisional Training Regiment. On October 15, 1917, the first commissions were granted, with 106 African-Americans commissioned as second lieutenants.
1917 - Congress passed and President Woodrow Wilson signed into law the Espionage Act, authorizing the Treasury Secretary to assume control of U.S. ports, control ship movements, establish anchorages and supervise the loading and storage of explosive cargoes. The authority was immediately delegated to the Coast Guard and formed the basis for the formation of the Coast Guard's Captain of the Ports and the Port Security Program.
1920- Canadian record retailer Sam Sniderman was born in Toronto. Sniderman began selling records in his family's radio store in 1937. He opened a second Toronto outlet in a furniture store in 1959. Two years later, Sniderman opened the now-famous Sam the Record Man store on Yonge Street. The store once claimed the largest selection of retail records in the world. A Sam the Record Man franchise chain was established in 1969, and the stores now are a familiar sight across Canada.
1921—Errol Garner born, Pittsburgh, Pa. I believe I have every album he recorded, and two copies of several as I play them at my office and home all the time. He, Oscar Peterson, Fats Waller, and James Johnson as well as classical piano and clavichord music are played often in my office. “Concert by the Sea” is his best selling album. Died Jan. 2, 1977.
http://www.erroll-garner-archives.com/
http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=1774
1921- Bessie Coleman becomes the first Black woman to earn a aviation pilot's license in the world - and the first woman to earn an international aviation license from the from the Federation Aeronautique Internationale. A native of Texas, she went to France to get her pilot's license because of the bigotry of those in U.S. aviation who opposed her training because she was a woman and because she was black. No black U.S. aviator would train her either. A native of Texas, BC learned to speak French and saved enough money to go to France. It was not simple but BC got through it and fulfilled her dream of flying. On her return to the U.S. she taught other black women to fly as well as doing the usual (for the time) barnstorming in air circuses to keep flying. "Queen Bessie," as she was known was a highly popular draw for the next 15 years. However, on 04-30-1936, while practicing for a show in Orlando, Fla., a loose wrench fell into the engine and she did not have a parachute or seat belts and actually fell out of the plane to her death.
http://www.tsha.utexas.edu/handbook/online/articles/view/CC/fcobq.html
http://www.pbs.org/wgbh/amex/flygirls/peopleevents/pandeAMEX02.html
http://www.ninety-nines.org/coleman.html
1924- Ford Motor Company manufactures its 10 millionth automobile. It would eventually build and sell 15 million models of this vehicle.
http://www.ford.com/en/heritage/history/default.htm
http://www.modelt.org/
1928 -- Republicans, convening in Kansas City, name Herbert Hoover their candidate for President and Charles Curtis of Kansas for the vice-president.
1937-Jimm ie Lunceford records his them “For Dancers Only,” Decca 1340.
1937— Waylon Jennings, a leader of the outlaw country movement of the 1970's, was born in Littlefield, Texas. Jennings, along with Willie Nelson, spearheaded the movement away from heavy orchestral backing, opting for a leaner, harder sound which edged close to rock. Jennings met Buddy Holly in 1958, and ended up touring as Holly's bass player. When Holly's plane crashed in February 1959, killing Holly, Ritchie Valens and the Big Bopper, it was Jennings who had given up his seat to the Bopper. Jennings signed with RCA in 1965, but by 1970 he was becoming disenchanted with not being able choose his own material, musicians and production. On the 1972 album, "Ladies Love Outlaws," he was at last able to use his own band, the Waylons, and to record current material, such as the Three Dog Night hit, "Never Been to Spain." The following year, the album "Honky Tonk Heroes" solidified his reputation as a country outlaw. In 1976, the album "Wanted - the Outlaws," featuring Jennings, his wife, Jessi Colter, Willie Nelson and Tompall Glaser became the first country LP to be certified platinum - one million copies sold.
1941 - Singer Nilsson (Harry Edward Nelson III) is born in Brooklyn, N.Y. His biggest hit is the million-selling No. 1 single ``Without You.'' He scores the film ``Skidoo'' and the TV show ``The Courtship of Eddie's Father.''
1942- Congress of racial Equality (CORE), founded as the Committee of Racial Equality by an interracial group of students in Chicago. Many of these students were members of the Chicago branch of the Fellowship of Reconciliation (FOR), a pacifist organization seeking to change racist attitudes. The founders of CORE were deeply influenced by Mahatma Gandhi's teachings of nonviolent resistance. CORE started as a nonhierarchical, decentralized organization funded entirely by the voluntary contributions of its members. The organization was initially co-led by white University of Chicago student George Houser and black student James Farmer. In 1942, CORE began protests against segregation in public accommodations by organizing sit-ins. It was also in 1942 that CORE expanded nationally. James Farmer traveled the country with Bayard Rustin, a field secretary with FOR, and recruited activists at FOR meetings. CORE's early growth consisted almost entirely of white middle-class college students from the Midwest. CORE pioneered the strategy of nonviolent direct action, especially the tactics of sit-ins, jail-ins, and freedom rides.
http://www.core-online.org/features/what%20is%20core%20frame.htm
http://www.interchange.org/jfarmer.html
http://www.highbeam.com/library/doc3.asp?docid=1P1:22137547
James Farmer’s father
http://www.cets.sfasu.edu/Harrison/Farmer/ETHA.htm
http://www.spartacus.schoolnet.co.uk/USAhouser.htm
http://www.afsc.org/about/gunnarjahnspeech.htm
1941- Singer and songwriter Harry Nilsson was born in Brooklyn, New York. His breakthrough came in 1968 with the album "Aerial Ballet," which contained the hit single, "Everybody's Talkin'." It stayed in the top ten for much of 1969 and was the theme from the film "Midnight Cowboy." Nilsson's 1970 LP, "Nilsson Schmilsson," sold a million copies. From it came the chart-topping single, "Without You." Harry Nilsson held the distinction of never performing in public. And he only rarely appeared on TV. Nilsson died at his Los Angeles-area home on January 15th, 1994, 11 months after suffering a serious heart attack.
1944- In a continued effort to penetrate the Japanese inner defenses, US amphibious forces invaded the Mariana Islands. A huge fleet, as documented in "Victory at Sea", of 800 ships from Guadalcanal and Hawaii carried the 2nd and 4th Marine Divisions, consisting of 162,000 men. By the end of the day, 20,000 of these men had established a 5 ½ mile-long beachhead on the island of Saipan. Though the American forces suffered heavy losses during an overnight counterattack, on the morning of June 16 the Marines still held the area they had taken the day before. A huge victory for the U.S. Marines.
1944—Birthday of guitarist, pianist, songwriter Eddie Hinton
Died July 28, 1995.
http://www.cdbaby.com/cd/hinton?cdbaby=b5516bd0b7d346eb4d2acb6f324352de
http://www.amazon.co.uk/exec/obidos/ASIN/B00004WHRS/026-7205197-9822825
1948—Football Coach Mike Holmgren birthday, born San Francisco, CA.
1949—Baseball coach, manger and form player Johnnie B. “Dusty” Baker, Jr. born Riverside, Ca.
1949 - Russell Hitchcock of Air Supply is born in Melbourne, Australia. The group has three million-selling singles, including the No. 1 hit ``The One That You Love.''
1950---Top Hits
My Foolish Heart - The Gordon Jenkins Orchestra (vocal: Eileen Wilson)
Bewitched - The Gordon Jenkins Orchestra (vocal: Mary Lou Williams)
The Third Man Theme - Alton Karas
Why Don’t You Love Me - Hank Williams
1952 - U.S. Air Force Second Lieutenant James F. Low, 4th Fighter-Interceptor Wing, became the 17th ace of the Korean War with his fifth MiG kill. The most junior in grade ace of the war, Low had been in combat for only six days.
1952 - Anne Frank: Diary of a Young Girl, was published on this date in the United States. It contained the memoirs of Dutch-Jewish teenager Anne Frank and her time spent with her family and others in hiding during World War II. She later died in a Nazi concentration camp, and many years later, her father, the only surviving member of her family, found her diary.
1952—“My Little Margie” premieres on TV. A very popular show in its day, "My Little Margie" was a half-hour sitcom about a "womanizing widower and his meddlesome daughter." Margie was played by Gale Storm and Charles Farrell played her father, Vern Albright.
1953 - The USS Princeton launched 184 sorties and established a single-day Korean War record for offensive sorties flown from the deck of a carrier.
1954-Courtney Cox Arquette birthday, ("Family Ties," "Friends"), born Birmingham, AL.
1954- Blind country singer Terri Gibbs birthday born Miami, Florida.
http://augusta.com/leaders/slideshow_national/slide22.html
http://www.vh1.com/artists/az/gibbs_terri/bio.jhtml
http://biologybooks.net/search_Terri_Gibbs/searchBy_Author.html
1957 - East Saint Louis was deluged with 16.54 inches of rain in 24 hours, a record for the state of Illinois.
1958---Top Hits
The Purple People Eater - Sheb Wooley
Do You Want to Dance - Bobby Freeman
Yakety Yak - The Coasters
All I Have to Do is Dream - The Everly Brothers
1958-The Platters sing "Twilight Time" on Ed Sullivan.
1961 - No. 1 Billboard Pop Hit: ``Moody River,'' Pat Boone.
1963—Actress Helen Hunt’s birthday, ("Mad About You," Peggy Sue Got Married, Twister), born Los Angeles, CA.
1963 – Seattle, Washington first civil rights march:
More than 700 people attended a "freedom march" protesting racial discrimination in Seattle. The marchers, many of whom were white, walked in silence but carried signs. The Rev. Mance Jackson announced that the Bon Marché promised 30 new jobs for African Americans in its downtown & Northgate stores.
http://seattlepi.nwsource.com/lifestyle/59696_blackhistory26.shtml
1963-Jan and Dean's "Surf City" is released. The song featured Brian Wilson on backing vocals and would prove to be the duo's only US number 1 record.
1963-21 year old Kyu Sakamoto became the first Japanese artist to hit the top of the US singles chart with a song called "Sukiyaki". It was also a #6 hit in the UK. The original title of the song was "Ue O Muite Aruko", which translates "I Look Up When I Walk". Sakamoto was killed on August 12th, 1985, when JAL Flight 123, a 747, crashed and burned on a thickly wooded mountain about 60 miles northwest of Tokyo. He was 43.
1965- Bob Dylan recorded "Like a Rolling Stone," the first of his recordings to feature electric instruments. Dylan's emerging rock 'n' roll leanings proved popular - "Like A Rolling Stone" reached number two on the Billboard chart.
1965 - Elvis Presley film ``Tickle Me'' premieres.
1966---Top Hits
Paint It, Black - The Rolling Stones
Did You Ever Have to Make Up Your Mind? - The Lovin’ Spoonful
I Am a Rock - Simon & Garfunkel
Distant Drums - Jim Reeves
1966-- The Beatles album, "Yesterday & Today" is released by Capitol in the controversial "butcher" sleeve, with the Beatles smiling amongst a group of decapitated baby dolls. The original photo quickly became a problem for Capitol, so it was pulled and replaced by a more conventional cover. Could not find it for sale on eBay.
June 15-18- 1967, the first rock musical festival was held in Monterey, CA. I was there. It was a mad house. Promoter Alan Pariser and booking agent Ben Shapiro assembled the largest roster of rock and soul acts up to that time, including the Who, the Grateful Dead, Otis Redding, Jefferson Airplane, Big Brother and the Holding Company with Janis Joplin, and the Jimi Henrix Experience. More than 50,000 fans attended the non-profit event, which inaugurated a decade of ever-larger rock festivals.
1969-KELLEY, THOMAS G. “Medal of Honor”
Rank and organization: Lieutenant Commander, U.S. Navy, River Assault Division 152. place and date: Ong Muong Canal, Kien Hoa province, Republic of Vietnam, 15 June 1969. Entered service at: Boston, Mass. Born: 13 May 1939, Boston, Mass. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty in the afternoon while serving as commander of River Assault Division 152 during combat operations against enemy aggressor forces. Lt. Comdr. (then Lt.) Kelley was in charge of a column of 8 river assault craft which were extracting 1 company of U.S. Army infantry troops on the east bank of the Ong Muong Canal in Kien Hoa province, when 1 of the armored troop carriers reported a mechanical failure of a loading ramp. At approximately the same time, Viet Cong forces opened fire from the opposite bank of the canal. After issuing orders for the crippled troop carrier to raise its ramp manually, and for the remaining boats to form a protective cordon around the disabled craft, Lt. Comdr. Kelley realizing the extreme danger to his column and its inability to clear the ambush site until the crippled unit was repaired, boldly maneuvered the monitor in which he was embarked to the exposed side of the protective cordon in direct line with the enemy's fire, and ordered the monitor to commence firing. Suddenly, an enemy rocket scored a direct hit on the coxswain's flat, the shell penetrating the thick armor plate, and the explosion spraying shrapnel in all directions. Sustaining serious head wounds from the blast, which hurled him to the deck of the monitor, Lt. Cmdr. Kelley disregarded his severe injuries and attempted to continue directing the other boats. Although unable to move from the deck or to speak clearly into the radio, he succeeded in relaying his commands through 1 of his men until the enemy attack was silenced and the boats were able to move to an area of safety. Lt. Comdr. Kelley's brilliant leadership, bold initiative, and resolute determination served to inspire his men and provide the impetus needed to carry out the mission after he was medically evacuated by helicopter. His extraordinary courage under fire, and his selfless devotion to duty sustain and enhance the finest traditions of the U.S. Naval Service.
1969—“Hee Haw” TV premiere. The show has been described as a country-western version of "Laugh-In," composed of fast-paced sketches, silly jokes and songs. Though critics didn't like it, it had popular appeal and did well as a syndicated show. It was co hosted by Buck Owens and Roy Clark, alternating with guest hosts. Regular performers included Louis M. "Grandpa" Jones, Junior Samples, Jeannine Riley, Lulu Roman, David "Stringbean" Akeman, Sherry Miles, Lisa Todd, Minnie Pearl and Gordie Tapp.
1970- Jimi Hendrix records his first session at his Electric Ladyland Studio in New York City. It was the guitarist's state of the art "dream" studio.
1971-The Guess Who's "Best of the Guess Who" LP goes gold.
1974---Top Hits
Billy, Don’t Be a Hero - Bo Donaldson & The Heywoods
You Make Me Feel Brand New - The Stylistics
Sundown - Gordon Lightfoot
I Don’t See Me in Your Eyes Anymore - Charlie Rich
1976-“Rain in” at the Astrodome. A 10-inche rainstorm caused the postponement of a regular season baseball game between the Pittsburgh Pirates and the Houston Astros at the Astrodome, a domed stadium. The rain caused flash floods that prevented everyone except members of both teams form getting to the ballpark.
1980---Jack Nicklaus won his fourth US Open, shooting a record score of 272 at Baltusrol Golf Club. The previous record score for the Open was 275, held by Nickalus (1967) and Lee Tevino(1968.)
1982---Top Hits
Ebony and Ivory - Paul McCartney with Stevie Wonder
Don’t Talk to Strangers - Rick Springfield
Don’t You Want Me - The Human League
For All the Wrong Reasons - The Bellamy Brothers
1988 - Severe thunderstorms in the Central High Plains Region spawned five tornadoes around Denver, CO, in just one hour. A strong (F-3) tornado in southern Denver injured seven persons and caused ten million dollars damage. Twenty-six cities in the eastern U.S. reported record high temperatures for the date. The high of 97 degrees at Portland ME was a record for June.
1989 - Thunderstorms produced severe weather over the Southern and Middle Atlantic Coast States. The thunderstorms spawned eight tornadoes, including strong (F-3) tornadoes which injured three persons at Mountville PA and four persons at Columbia, PA. There were 111 reports of large hail and damaging winds, including wind gusts to 80 mph at Norfolk, VA, and Hogback Mountain, SC.
1990-The Rolling Stones song, "Paint It Black", hit number 1 in the Netherlands for the second time, twenty-four years after it first topped the singles chart. The song was included on their "Singles Collection" box set the previous year.
1990---Top Hits
Hold On - Wilson Phillips
Poison - Bell Biv DeVoe
It Must Have Been Love - Roxette
Love Without End, Amen - George Strait
1993-Ray Charles made music history when his album "My World" showed up on Billboard's Hot 200, marking the sixth decade he had a charted LP.
1992-The second largest two-day tornado outbreak in U.S. history commenced as a developing cumulus cloud broke through the cap in north central Kansas and exploded into a huge supercell thunderstorm. Between 4:15 and 8:35 pm cdt, this supercell produced 39 tornadoes in north central Kansas, including 12 in Mitchell County and 9 in Osborne County. A farmer living south of Cawker City reported going to the basement in his farm home 5 different times and each time he came out of the basement, his farm had additional damage. He also reported that at one time, he counted 3 tornadoes on the ground and 4 funnels in the air. Damage to property in Mitchell County exceeded $12 million.
1999- Oriole Will Clark gets his 2,000th career hit in the 10-inning victory over the Royals, 6-5.
2001---The Los Angeles Lakers take their second in a row NBA Championship
beating the Philadelphia 76ers in game 5.
http://espn.go.com/nba/playoffs2001/2001/0615/1214516.html
2003---The Los Angeles Lakers take their third in a row NBA Championship.
http://www.nba.com/spurs/news/finals_index.html
2004—Detroit Pistons play as a team and dominated the Los Angeles Lakers, who’s players are charged as being “old and slow” by the sports press.
http://www.detnews.com/2004/pistons/0406/15/index.htm
2005--- Joining Mayor Michael Bloomberg, Governor George Pataki, and team officials, George Steinbrenner announces plans for new ballpark in the Bronx. The Yankee-financed $800 million facility, which will be built north of the current stadium in Macombs Dam Park, will seat at least 51,800 and will mirror the ‘The House that Ruth Built’ including limestone walls and the familiar copper frieze.
Stanley Cup Champions This Day
1998 Detroit Red Wings
NBA Champions This Day
2001---Los Angeles Lakers
games MVP
2000-01 Los Angeles Lakers Philadelphia 76ers 4-1 Shaquille O'Neal, L.A..
2002---Los Angeles Lakers
2002-03 San Antonio Spurs New Jersey Nets 4-2 Tim Duncan, San Antonio
2003-- Detroit Pistons/Los Angeles Lakers 4-1 Chauncey Billups, Detroit
[headlines]
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Baseball Poem
WHEN THE YANKEES WIN
WHEN THE YANKEES WIN IT'S PURE DELIGHT,
I CAN SUFFER FOOLS I CAN SLEEP AT NIGHT
I CAN SIT IN TRAFFIC ULCER-FREE
EVEN LETTING CARS IN FRONT OF ME.
I'VE A QUICKER STEP I'VE A BROADER GRIN
WHEN THE LAST OUT'S MADE AND THE YANKEES WIN.
ELOQUENT I WAX, CLEVERLY I PUN
WHEN WE'VE GOT TORONTO ON THE RUN
AND WHEN THE RED AND WHITE SOX SLIP,
MY HEART FILLS UP WITH FELLOWSHIP
AND PRIDE AS I REFLECT THEIR GLORY,
WATCHING SCOTT PUNCH FISTS WITH TORRE.
JOYFULLY I'M GIVING THANKS
AS EMPTY BASES FILL WITH YANKS
AND WHEN AND IF THEY'RE CLEARED BY JETER
STARS ARE BRIGHTER AIR IS SWEETER,
RICH THE COFFEE CRISP THE BAGEL
WINNING GAMES WITH CONE AND NEAGLE.
HOW MY FORTUNES RISE AND FALL
WITH BERNIE, TINO, CHUCK AND PAUL
GOODEN, JUSTICE, JORGE, ROCKET,
PUTTING PENNANTS IN THEIR POCKETS,
EL DUQUE, MARIANO, HILL,
PETTITTE, OH MY HEART BE STILL !
HOW LIGHT THAT HEART, HOW FREE OF CARES
WHEN OUR SHOES TOUCH HOME MORE THAN THEIRS !!
NO NEED FOR THEM TO WIN EACH DAY,
JUST LET THEM WIN ON DAYS THEY PLAY !
Carol P, Yankee Poet Laureate (self-proclaimed)
[headlines]
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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
[headlines]
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Daily Puzzle
How to play:
http://www.setgame.com/set/puzzle_frame.htm
Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm
[headlines]
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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx
[headlines]
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Weather
See USA map, click to specific area, no commercials
http://www.weather.gov/
[headlines]
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Traffic Live---
Real Time Traffic Information
You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live
--------------------------------
[headlines]
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