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Available by e-mail in a text format, sent out at 3:00am, free:
http://www.leasingnews.org/addme-mailing-list.htm
Headlines---
Lessors--
The Truck and Trailer Marketplace
"Losing
the Write-off, Not the Lease?"
Placard---Grow
Where You are Planted
Heritage
Affiliated Corporate Services Relocates
LPC
Adds Another Territory Manager To It's Team
Patriot
Commercial Leasing Partnership AUSA, Barcelona, Spain
Dell
Offers Zero-Percent Thirty-Month Lease
Republic
Acquires Controlling Interest in generalRoofing Services
SunTrust
Expands Commercial Leasing Business in Five U.S. Cities
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
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---------------------------------------------------------------------
"What
Lessors Are Saying About…The Truck and Trailer Marketplace"
ELT News (Equipment Leasing
Association )
The truck and trailer
marketplace definitely was hit by the economic down turn in the last
few years, say lessors in this market. But, a pick-up in certain segments
is occurring with great optimism for the 2005-2006 time frame.
Mike Diromondo of
Trans Advantage, Inc., which finances primarily household goods trailers,
said they saw the slowdown begin in summer 2001.
“The van line business
is seasonal, however,” he noted. “Once through the busy season, we saw
a slowdown in our activity as early as1Q 2001. It was just magnified
by the recession. Then, 9-11 put a halt to everything.
Jim Feenstrom at
Penske Truck Leasing said the market experienced a “perfect storm with
a recession that started pre-9/11 coupled with the actual 9/11 events,
less freight, new EPA regulations, and used truck prices going down
at the same time.”
“But, in 2003, it
picked up a little bit,” Diromondo said. “At first blush in 2004, it’s
going to be a pretty good year. We are seeing the turnaround.”
The real challenge,
said Diromondo, is that manufacturers in response to the down market
cut back their manufacturing. “So in 2004, we’re running out of inventory,”
he said. “But, we will increase the level of operations in order to
accommodate what we’re hoping is going to be a good 2005.”
As for the future,
the largest forces impacting the truck and trailer marketplace over
the next few years include the longer-lasting effects of the recession.
One such effect — people and companies not relocating at the level they
once did — has affected TransAdvantage. Diromondo said: “They are either
cutting back people who will not be replaced or technology has allowed
people to telecommute therefore not relocate.”
Feenstrom says there
also is less freight from a percentage growth standpoint. “Freight usually
grows on average of about 4-5 percent per year,” he said. “It wasn’t
growing the last few years.”
Another factor is
changes to emission standards, which could prove to be positive for
the truck and trailer leasing marketplace. “That will create a flurry
of activity,” said Diromondo. “Companies will want equipment before
a ‘drop dead {environmental standard) date’ so they will be grandfathered
[in to current environmental standards.]”
Feenstrom said there
was a bubble effect due to EP regs in early 2002, where companies wanted
to grandfather trucks in. “What is projected right now,” he said. “Is
that there will be even a stronger – through 2006 – demand for new vehicles.
Upcoming 2007 regulations will be part of that.
Fleets have been
aging, too, which causes optimism for the market.
Lessors in this market
noted that overall demand is accelerating rapidly. Feenstrom believes
Class Eight vehicles, in particular, will experience a big year in 2006.
Patrick Brennan,
spokesperson for GE TIP says they are experiencing a pick-up in the
53 foot length rentals trucks, which he said is “due the increasing
cost for that equipment straight from the manufacturer.” But, he says
anything construction-related has yet to pick-up, noting the modular
trailers are a flat market currently.
But, Feenstrom summed
it up, saying, “Five years ago we had a market with a thyroid condition,
based on different factors. The country didn’t really understand the
recession was starting. 1997 through 1999 was a well-oiled machine,
and the economy was ‘over-churning.’ But, today, we are in a different
world, with a different economy, with different factors, but it will
still be good.”
"Losing
the Write-off, Not the Lease?"
American Banker On
Line
Michelle Heller
The European Union
(EU) is objecting to a provision in a proposed U.S. bill that would
grandfather existing lease deals between American financial institutions
and foreign airlines leasing U.S.-built planes.
Arancha Gonzalez,
the spokeswoman for European Trade Commissioner Pascal Lamy, says the
EU believes that the provision would violate World Trade Organization
(WTO) stipulations.
The lease deals in question, which were ruled illegal by the WTO
in 2000, involve the purchase of aircraft and other types of equipment
by U.S. financial services companies, which then lease the equipment
overseas in order to receive an average 30 percent tax break through
the foreign sales corporation/extraterritorial income tax program (FSC/ETI).
Proposed bills in
both the House and the Senate would repeal the FSC/ETI tax benefits
but would protect existing long-term aircraft lease deals that were
established while the breaks were available.
The Senate bill would
protect leases signed by Sept. 17, 2003, while the House bill would
protect those signed by Jan. 14, 2002. In addition, the Senate bill
includes a provision that allows U.S. companies to make future lease
deals through an offshore entity.
In light of the EU's
latest objections to the legislation, the Treasury is taking a cautious
stance and deferring to Congress. Equipment Leasing Association President
Michael Fleming says that to make a legitimate complaint, the EU "would
have to show reason there is economic harm, and quite frankly they couldn't
do that."
-----------------------------------------------------------------------------
Placard---Grow
Where You are Planted
---------------------------------------------------------------------------------------
Classified ads---Help Wanted
Accounting
 Accounting: PricewaterhouseCoopers seeks executives with experience in equipment leasing to help clients improve their leasing businesses by assessing "as is" conditions and designing and implementing solutions to operational issues. PwC also seeks CPA's with a broad based knowledge of FAS13 and familiarity with accounting for leases with simple and complex transaction structures. Email: anthony.g.anderson@us.pwc.com About the Company: PricewaterhouseCoopers, New York, NY. |
Equipment Sales Representative
|
Equip.
Leasing Sales Rep: Strong sales and bus. dev. skills
needed. Dev/manage portfolio, initiate bus. in upper Midwest .
3-4 yr leasing exp. www.associatedbank.com About the Company: Associated Banc-Corp is a diversified multibank holding company with $15.5 billion in total assets. Headquartered in Green Bay, Wisconsin . Associated has more than 200 banking locations across Wisconsin, Illinois and Minnesota. |
Marketing Indirect Originator
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------------------------------------------------------------------------------------------------------------
#### Press Release #############################
Heritage
Affiliated Corporate Services Relocates
Heritage Affiliated
Corporate Services, LLC
401 East Corporate
Drive, Suite 250
Lewisville, TX 75057
972-221-7335 Fax
972-221-7336
RE: Office Relocation
Heritage Affiliated
Corporate Services, LLC (HACS) announced today that it has relocated
its corporate offices to 401 East Corporate Drive, Suite 250, Lewisville,
TX 75057.
The phone and fax
numbers remain the same. Richard Galtelli, CEO, stated that “although
it was sad to leave our own building after 8 years, we had outgrown
that space and needed larger quarters to better accommodate our growth”.
For additional information
on HACS leasing services, call Jim Lahti at 800-467-5327.
James R. Lahti, CLP
Heritage Affiliated
Corporate Services
401 East Corporate
Drive, Suite 250, Lewisville, TX
75057
972-221-7335, Fax:
972-221-7336
### Press Release
#################################
LPC
Adds Another Territory Manager To It's Team
Wayne, NJ-
Leasing Partners
Capital, Inc., the fastest growing leasing company in the
U.S., has added another
Territory Manager to its Team.
LPC is pleased to
announce the addition of James DePaola as Territory
Manager located in
Litchfield, NH.
Jim holds Associate
degrees in Electro-Mechanical Engineering Technology, as
well as, in Computer
Electronics. He also holds a
Bachelor of Science
degree from River
College in Nashua, NH.
Jim began his career
spending several years in the laser technology
industry, then began
the equipment leasing industry in 2002 after completing
the Willow Financial
training program.
"About the Company"
Leasing Partners
Capital, Inc. (LPC) is a small to lower-middle-market
equipment leasing
company working with vendors and end users, headquartered
in Wayne, NJ. LPC currently has offices in Naples, FL, Louisville,
KY,
Atlanta, GA, Pittsburgh,
PA, Buffalo, NY, Minneapolis, MN, Houston, TX, San
Francisco, CA, St.
Louis, MO, Boston, MA, Detroit, MI , Seattle, WA and
Litchfield, NH.
For additional information
or questions about LPC, contact Bruce Larsen,
National Sales Manager,
877-333-5864 or email him at
blarsen@leasingpartnerscapital.com,
or check out their web site @
www.leasingpartnerscapital.com.
### Press Release
##################################
Patriot
Commercial Leasing Company, Inc. Announces Leasing Partnership
With
AUSA Corporation, Barcelona, Spain
POTTSTOWN, Pa. — Patriot Commercial Leasing Company, Inc.,
a subsidiary company of Patriot Bank Corp. (Nasdaq: PBIX), announced
a strategic partnership with AUSA Corporation, Barcelona, Spain, to
provide leasing solutions for AUSA’s U.S. network of authorized dealers.
AUSA Corporation’s products include forklifts, dumpers, and utility
vehicles.
AUSA Corporation
is an international manufacturer and markets its products in over 60
countries. Through this new relationship, Patriot Commercial Leasing
Company, Inc. will provide AUSA’s U.S. dealers with a variety of leasing
options for their customers as well as financing for their rental fleets.
“We are very excited
by the opportunity to enter into this partnership with AUSA Corporation
and look forward to working closely with AUSA management,” commented
Ken Collins, president, Patriot Commercial Leasing. “This relationship
is consistent with our strategic plan and allows us to continue our
focus on hard assets that maintain value,” added Collins.
Hard asset equipment
is equipment that holds its value and is considered essential to the
operation of businesses.
Alberto Diez, General
Manager, AUSA Corporation, said, “We are pleased to join a partnership
that allows us to provide leasing products to meet the needs of our
dealers and adds value to the already established commitment of AUSA
lines in the U.S.”
“Working with AUSA
Corporation helps Patriot Commercial Leasing demonstrate our eagerness
to diversify our client base and enter new markets,” added Collins.
Patriot Commercial
Leasing Company, Inc., is a wholly-owned subsidiary of Patriot Bank.
It was formed in 1997 to enhance Patriot’s product lines, differentiate
revenue streams and lessen rate sensitivity.
Patriot Bank Corp.
is a $1 billion full-service financial institution with 17 branches
in Montgomery, Berks, Lehigh, Northampton, and Chester counties. Offering
a complete line of checking, savings, loan, and investment products,
Patriot Bank specializes in providing personalized service to consumers
as well as small and medium-sized businesses.
###
Ken Collins, President
Patriot Commercial Leasing Company, Inc.
610-705-4999
### Press Release
##########################
Dell
Offers Zero-Percent Thirty-Month Lease; Low, Fixed Monthly Payments
and Improved Cash Flow Make Investing in Technology Easy
ROUND ROCK, Texas---Dell,
through Dell Financial Services (DFS), is offering small and medium
businesses the opportunity to obtain the technology they need today
with a zero-percent 30-month lease through July 31, 2004.
This special lease offer is part of Dell's commitment to support
small and medium businesses with products and services that make technology
investment easy. By choosing to lease, customers can improve their bottom
line with a disciplined technology rotation.
"This promotion reflects our strategy to provide aggressive
offers that best fit the needs of our customers," said Suneet Paul,
vice president and general manager of DFS Transaction Group. "Our
goal is to provide flexible financing options and serve as a total financial
solution provider."
Orders of more than $500 placed between now and July 31 may be
eligible for this special promotional offer of a zero-percent 30-month
Fair Market Value lease. Complete offer details can be found at www.dell.com/smb/leasing.
About Dell
Dell Inc. (Nasdaq:DELL) is a premier provider of products and services
required for customers worldwide to build their information-technology
and Internet infrastructures. Company revenue for the past year totaled
$41.4 billion. Dell, through its direct business model, designs, manufactures
and customizes products and services to customer requirements, and offers
an extensive selection of software and peripherals. Information on Dell
and its products can be obtained at www.dell.com.
About Dell Financial Services
Dell Financial Services L.P. (DFS) is a joint venture between Dell
and CIT Group Inc. (NYSE:CIT), a leading commercial and consumer finance
company. DFS provides an array of services ranging from consumer credit
accounts to complex business technology finance agreements. Additional
information on DFS is available at www.dellfinancialservices.com.
Dell is a trademark of Dell Inc.
Dell disclaims any proprietary interest in the marks and names
of others.
CONTACT:Dell Financial
Services, Round Rock Media Contacts: Laura Thomas, 512-725-3334 laura_thomas@dell.com
or Investor Contacts: Lynn A. Tyson, 512-723-1130 lynn_tyson@dell.com
or Robert Williams, 512-728-7570 robert_williams@dell.com
### Press Release
########################
Republic
Financial Acquires Controlling Interest in generalRoofing Services
Transaction Will
Result in Recapitalization of gR Through Chapter 11
DENVER, -- Republic
Financial Corporation, a privately held investment company with ownership
interests in assets of more than $1 billion, said today that its partially
owned subsidiary GR Investment Holdings L.L.C. has completed the purchase
of a controlling interest in generalRoofing Services, Inc. (gR), the
nation's leading contractor and provider of commercial and industrial
roofing solutions.
At the same time
Republic said that, as a result of the transaction, gR has filed to
reorganize under Chapter 11 of the Bankruptcy Code in order to obtain
better access to working capital and to restructure its balance sheet
to more realistically reflect current market conditions and provide
the appropriate financial foundation for sustainable growth in the future.
The filing took place in U.S. Bankruptcy Court for the Northern
District of Texas in Dallas.
GR Investment Holdings
has purchased the approximately $46 million senior debt facility and
committed $25 million in debtor-in-possession (DIP) financing. It believes this is sufficient to fund post-petition operating expenses
and supplier and employee obligations.
"This transaction
provides gR with an opportunity to restructure and become more efficient,"
said Bart Roggensack, a former director of gR who has been named chief
executive officer of the company. "With
Republic as an active participant in our business, we have acquired
both the financial and management resources we need to realize the promise
of a truly national roofing company that meets the roofing needs both
of large national accounts and local builders and developers. The filing will enable us to continue to operate
the business while we develop a realistic capital structure and business
organization under which gR can become a profitable business in the
future."
"gR has a terrific
future. That's why we invested
in it," said James H. Possehl, chairman and chief executive officer
of Republic, "and that's why we intend to work with gR for the
best possible long-term outcome for its stakeholders.
"Despite recent
liquidity problems resulting from an unprecedented downturn in commercial
and industrial construction over the past three years, we have every
confidence in the fundamental strength of gR's unique business model
and are convinced that the national platform gR has created is ultimately
workable and is fast becoming the preferred approach of customers and
suppliers alike.
"There is no
doubt in my mind that with intensive, long-term management focus and
dedicated operational expertise, we can successfully revitalize the
business and enhance the enterprise value for all stakeholders,"
Mr. Possehl said.
The company said
that during the reorganization, daily operations would continue as usual. It also said it planned to accelerate efforts
to consolidate and become a leaner, more efficient and cost-effective
organization.
According to Mr.
Roggensack, "Rapid expansion has left gR with duplicative functions
in virtually all areas of operation.
It's been confusing for customers and costly for the company. The job is just starting, but I can assure
everyone that we can and will emerge as one company with effective economies
of scale and clear points of differentiation from competitors."
During the reorganization,
he said, "Employees will continue to be paid as usual. We have already asked the Court for permission
to continue medical and other company benefits, and as this permission
is routine, employees will be on the job and at the jobsite helping
us complete our commitments to customers and win new business, as well.
"We will be
hard at work re-establishing terms with suppliers.
With the DIP financing in place and the protections afforded
under the Bankruptcy Code for post-petition purchases, we expect the
process to move along more quickly for our mutual benefit.
"gR is perhaps
one of the largest purchasers of roofing materials and processes in
the country, and the success of our suppliers is closely tied to that
of gR."
In an October 1,
2003 article, RSI magazine awarded gR the top spot in its annual survey
of "Top 100" contractors.
"Safety, reliability and technical superiority are what
makes gR the leader in its industry.
The recapitalization enables us to redouble our efforts, assure
continued leadership and meet rapidly changing customer demands.
"Customer needs
have become national and global; they require rigorous maintenance of
their real estate assets and prefer to work with national services to
accomplish this. They want a
value-added partner and no one is in a better position to provide those
resources than gR."
gR was founded in
1998. It provides new roof construction,
restoration of existing roofs, replacement of significantly damaged
roofs and emergency and maintenance services to commercial multi-property
owners and managers in a variety of industries both nationally and regionally.
gR employs approximately 2400 in 36 operating locations and six
service centers in 23 states.
About Republic Financial
Corporation
Republic Financial
Corporation, located in Aurora, Colorado, is a privately held investment
company specializing in private equity, equipment leasing portfolios,
aviation, structured finance transactions, distressed commercial debt
and turnaround management expertise.
Founded in 1971, Republic has ownership interests in assets of
more than $1 billion and has achieved commercial success by structuring
creative financial solutions and employing intensive due diligence and
asset management to generate profitable returns.
For further information,
please contact: Sara Meaney of Republic Financial Corporation, +1-303-923-2516;
or Sandra Sternberg, +1-310-788-2850, for Republic Financial Corporation.
SOURCE Republic Financial Corporation
CO: Republic Financial Corporation; GR Investment
Holdings L.L.C.; gR; generalRoofing
Services, Inc.
#### Press Release
########################
SunTrust
Expands Commercial Leasing Business in Five U.S. Cities
SunTrust Banks, Inc.,
(NYSE: STI) announced that its
commercial leasing subsidiary, SunTrust Leasing Corporation, has opened
five new offices in key U.S. markets. The new offices are located in
Boston, Chicago, Long Island, Minneapolis and Columbus, Ohio.
"Continued expansion
into high-potential markets is a strategic priority for us," said
Dan McKew, President and CEO of SunTrust Leasing Corporation. "Our
presence in these cities allows us to better serve our existing clients
and attract new ones. We are excited about this opportunity and look
forward to providing our financing expertise, specialized industry knowledge,
and high-quality service to clients in these cities and surrounding
markets."
With $3.6 billion
in assets, Baltimore-based SunTrust Leasing Corporation has become the
nation's ninth-largest bank leasing company by providing strategic financing
solutions to a broad range of municipalities and organizations. With
specific expertise in a variety of industries including construction,
energy, manufacturing, food and beverage, healthcare and transportation,
SunTrust Leasing offers an alternative, and often tax- advantaged, financing
vehicle for a variety of commercial equipment including construction,
printing, medical and computer equipment as well as corporate aircraft.
SunTrust Leasing Corporation serves clients nationwide and in select
markets overseas through its offices in Atlanta, Baltimore, Boston,
Chicago, Columbus, Ft. Lauderdale, Los Angeles, Long Island, Minneapolis,
Nashville, Orlando, Raleigh-Durham, Richmond, Sarasota and Washington,
D.C.
SunTrust Banks, Inc.,
headquartered in Atlanta, Georgia, is one of the nation's largest commercial
banking organizations. As of March 31, 2004, SunTrust had total assets
of $125.2 billion and total deposits of $80.9 billion.
The company operates
through an extensive distribution network primarily in Florida, Georgia,
Maryland, Tennessee, Virginia and the District of Columbia and also
serves customers in selected markets nationally. Its primary businesses
include deposit, credit, trust and investment services. Through various
subsidiaries the company provides credit cards, mortgage banking, insurance,
brokerage and capital markets services.
SunTrust's Internet
address is www.suntrust.com.
CONTACT:
Hugh Suhr
SunTrust Banks, Inc.
Phone Number: (404)
827-6813
### Press Release
#################################
--------------------------------------------------------------------------------------\
News Briefs---
Fed Stays Put on
Rates
http://www.washingtonpost.com/wp-dyn/articles/A2153-2004May4.html
http://www.nytimes.com/2004/05/05/business/05fed.html
Fires Erupt in Southern
Calif.
http://www.washingtonpost.com/wp-dyn/articles/A1874-2004May4.html
http://www.signonsandiego.com/news/state/20040504-2058-wst-
Auto Sales Lower
Than Expected in April
http://www.nytimes.com/2004/05/05/business/05sales.html
Truckers again protest
at Port in Oakland, California
http://www.contracostatimes.com/mld/cctimes/business/8584518.htm?1c
No end in sight for
high oil and gasoline prices, analysts say
http://www.signonsandiego.com/news/business/20040504-1411-worldoil.html
Factory orders jump
by 4.3 percent in March, good sign for economy
http://www.signonsandiego.com/news/business/20040504-1359-economy.html
Citizens Financial
to Buy Charter One
http://www.washingtonpost.com/wp-dyn/articles/A2677-2004May5.html
Jurors, experts talk
about Tyco, Stewart cases' hits and misses
http://www.usatoday.com/money/2004-05-04-jury_x.htm
----------------------------------------------------------------------------------------------------
Sports Brief
Sharks oust Avs
http://www.mercurynews.com/mld/mercurynews/sports/8590870.htm?
ERIGHTS=1506007211110609788mercurynews::kitmenkin@leasingne
ws.org&KRD_RM=8oppqqutwvrusqvxuqpooooooo|Kit|N
------------------------------------------------------------------------------------------------------------
California Nuts
Brief---
Austrians' zeal for
native son Schwarzenegger fades
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/05/05/SCHWARZENEGGER.TMP
------------------------------------------------------------------------------------------------------------
“Gimme that Wine”
A Rustic Retreat
Became a Vineyard---Frank J. Prial
http://www.nytimes.com/2004/05/05/dining/05WINE.html
Altered crop bans
growing in popularity
http://www.pressdemocrat.com/local/news/04crop.html
This
Day in American History
1494-- Columbus discovered Jamaica
in 1494, meeting the Arawak Indians, who reportedly celebrated the event
with a rum drink. He would eventually enslave or
kill all on the many islands by disease or violence.
http://www.picturehistory.com/find/p/1405/mcms.html
http://www.hartford-hwp.com/archives/41/038.html
http://www.webster.edu/~corbetre/haiti/history/precolumbian/tainover.htm
1847-The American Medical Association
was organized at a meeting at Philadelphia attended by 250 delegates.
This was the first national medical convention in the US.
1864-
The forces of Union General Ulysses S. Grant and Confederate General
Robert E. Lee clash in the Wilderness, beginning an epic campaign for
the capture of the Confederacy capital. Lee had hoped to meet the Federals,
who plunged into the tangled Wilderness west of Chancellorsville, Virginia,
the day before, in the dense woods in order to mitigate the nearly two-to-one
advantage Grant possessed as the campaign opened. For the next six weeks
the battle continued off and on.
1867-
Nelly Bly (Elizabeth Cochran Seaman) - U.S. journalist.
The first woman superstar of journalism, NB was a fighter for
women's rights and the underdog. She once feigned insanity to get inside asylum
to expose the dismal conditions for the emotionally ill. Her fame, however, rests on a publicity race
around the world to beat the 80-day around the world fictional trip
authored by Jules Verne. Her
career that started at $5 a week and reached a high point of $25,000
a year. Her first articles were about the slum life
of her home area of Pittsburgh and the dismal conditions forced on the
working girls of the city because of low wages and social stigmas. She then went to Mexico where she wrote of
the poor there and the overt official corruption that kept so much of
the culture in poverty while making others super rich.. She was expelled
from Mexico when the articles appeared. The articles were later collected
in Six Months in Mexico (1888). She
moved to New York to work for Joseph Pulitzer's New York World at a
much higher salary. Her first
assignment was feigning insanity and being committed to an asylum. Her
exposes resulted in a grand jury hearing and some changes in care of
the insane. The articles were collected in Ten Days in a Mad House (1887)
Her career included exposes of sweatshops, the jail system (she
was arrested after pretending to shoplift), and even the briberies inherent
in the lobbying system that influences legislatures.
Then came her high publicized trip around the world to break
the Jules Verne fictional record of "Around the World in 80 Days."
Traveling alone on whatever transportation was available, she sent back
dispatches that were eagerly read by the public so that when she returned
to New York in 72 days, 6 hours and 11 minutes, she was the most famous
woman in America - perhaps in the world. She published her exploits in a successful
Nellie Bly's Book: Around the World in Seventy-two Days 1890). She was
23 years old. She also described
using a diving bell to descend into the ocean and then floating above
the earth in a balloon. Her
real name was Elizabeth Cochran Seaman. The pen name "Nellie Bly"
came from a Stephen Foster song.
1891-
the world-famous Carnegie Hall opened in New York. Among the opening
night attractions ... Tchaikovsky conducting his "Marche Solennelle."
On this date in 1991, a 100th birthday celebration for the hall included
two concerts, featuring the likes of violinist Isaac Stern, tenor Placido
Domingo, soprano Jessye Norman, cellist Mstislav Rostropovich and conductor
Zubin Mehta.
1893-Stock
Market Crash: Wall Street stock prices took a sudden drop. By the end
of the year 600 banks had closed. The Philadelphia and Reading, the
Erie, the Northern Pacific, the Union Pacific and the Atchison, Topeka
and Santa Fe railroads had gone into receivership; 15,000 other businesses
went into bankruptcy. Other than the "Great Depression" of
the 1930s, this was the worst economic crisis in US history; 15-20 percent
of the workforce was unemployed.
1895-
Peggy Margaret Francis Bacon - U.S. artist. Her main media were painting,
dry point etching, and lithography. PFB once gave up painting because her husband
derided her and made her think her efforts were inadequate. She was
able to fashion a great career in caricatures and book illustrations.
Her work was often featured in the New Yorker magazine. She resumed serious painting after her divorce at age 45. At age
80, in 1975, she became the first living woman to be given a retrospective
at the National Museum of American Art. Her witty, much praised caricatures
of the famous of her era were collected in the best-seller Off With
Their Heads (1934).
1903-James
Beard birthday, the Father of American Cooking was born at Portland,
OR. In a long and busy culinary career, he penned more than 20 classic
cookbooks, appeared on television’s first cooking show in 1946 and was
an enthusiastic ambassador for the American style of cooking.
He died Jan. 21, 1985. His Greenwich Village brownstone is America’s
only culinary historic landmark and serves as the headquarters of the
James Beard Foundation.
1904-Baseball’s
Perfect Game: Denton T. "Cy" Young pitched baseball's first
perfect game, not allowing a single opposing player to reach first base.
Young's outstanding performance led the Boston Americans in a 3-0 victory
over Philadelphia in the American League. The Cy Young Award for pitching
was named in his honor.
1925-
High school science teacher John Scopes was arrested for teaching evolution
in one of Tennessee's public schools
http://lcweb2.loc.gov/ammem/today/today.html
1936-The
first bottle with a screw cap and a pour lip was patented by Edward
A. Ravenscroft, Glencoe, Il. The bottles were manufactured by the Abbott
Laboratories, North Chicago, Il.
1942-
country superstar Tammy Wynette, whose real name is Virginia Wynette
Pugh, was born in rural Mississippi, near Tupelo. "D-I-V-O-R-C-E"
and "Stand By Your Man," which is also the title of her autobiography,
are typical of her country ballads, backed by the lush orchestral arrangements
of Billy Sherrill. "Stand By Your Man," which topped the country
charts in 1968, was the biggest-selling single by a woman in the history
of country music. Her other number-one hits include "The Ways to
Love a Man" from 1969, "He Loves Me All the Way" from
1970 and "We're Gonna Hold On," a 1973 duet with George Jones.
Wynette and Jones were married from 1968 to 1975. In 1992, she teamed
up with pop-pranksters The KLF. Together they scored a modest hit with
a reworking of "Stand by your Man", called "Justified
and Ancient (Stand by the Jams)."
Tammy
Wynette died last month of natural causes.
1946—Birthday
trumpet player, composer Jack Walrath
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clink=dmmu.artist&a=b
Cruising
Down the River - The Blue Barron Orchestra (vocal: ensemble)
Forever
and Ever - Perry Como
Again
- Doris Day
Lovesick
Blues - Hank Williams
1949-“Stop
the Music” Premiers. ABC's prime-time musical-game show hosted by Bert
Parks. Featured the singing talents of Kay Armen, Jimmy Blaine, Betty
Ann Grove, Estelle Loring, Jaye P. Morgan and June Valli, and the dancing
numbers of Sonja and Courtney Van Horne. Harry Salter conducted the
band.
1955-
- The musical, "Damn Yankees" opened in New York City for
a successful run of 1,019 performances. The show, at the 42nd Street
Theatre mixed both baseball and ballet. It is an adaptation of the book,
"The Year the Yankees Lost the Pennant". Gwen Verdon starred
in the role of Lola. Whatever Lola wants Lola gets including the Tony
for Best Actress in a musical for her performance. My mother took me to the matinee and Ray Walton
as the devil was my favorite.
1955
-Dodger rookie hurler Tommy Lasorda, making his major league debut,
ties a record by throwing three wild pitches in the first inning of
a 4-3 victory over the Cardinals. The future Dodger Hall of Fame skipper
doesn't get the decision and will end his playing days after the 1956
season with a lifetime record of 0-4.
1957---Top
Hits
All
Shook Up - Elvis Presley
School
Day - Chuck Berry
A
White Sport Coat (And a Pink Carnation) - Marty Robbins
Gone
- Ferlin Husky
1961-
Astronaut Alan B. Shepard Jr. became America's first space traveler
as he made a 15-minute suborbital flight in a capsule launched from
Cape Canaveral
http://www.nytimes.com/learning/general/onthisday/big/0505.html
1962
-"West Side Story" soundtrack album goes to #1 & stays
#1 for 54 weeks which is more than 20 weeks longer than any other album
1965---Top
Hits
Mrs.
Brown You’ve Got a Lovely Daughter - Herman’s Hermits
I
Know a Place - Petula Clark
I’ll
Never Find Another You - The Seekers
This
is It - Jim Reeves
1967-"San
Francisco" by Scott McKenzie enters the charts and will eventually
hit #4. The song became kind of an anthem during the hippie movement.
1973-Secretariat,
ridden by Ron Turcotte, won the Kentucky Derby in record time of 1:59.2
“Big Red,” as he was known, beat Sham by 2 ½ lengths and went on to
win the Triple Crown.
1973---Top
Hits
Tie
a Yellow Ribbon Round the Ole Oak Tree - Dawn featuring Tony Orlando
The
Cisco Kid - War
Little
Willy - The Sweet
Behind
Closed Doors - Charlie Rich
1978-Pete
Rose of the Cincinnati Reds got the 3,000th hit of his career,
a single off Steve Rogers of the Montréal Expos.
Rose played in the majors form 1963 through 1986 and wound up
with 4,256 hits, more than any other player.
1981---Top
Hits
Morning
Train (Nine to Five) - Sheena Easton
Just
the Two of Us - Grover Washington, Jr./Bill Withers
Being
with You - Smokey Robinson
Rest
Your Love on Me - Conway Twitty
1987
- Unseasonably hot weather prevailed in the western U.S. A dozen cities
in California reported record high temperatures for the date. Afternoon
highs of 93 degrees at San Francisco, 98 degrees at San Jose, 100 degrees
at Sacramento, and 101 degrees at Redding, were the warmest of record
for so early in the season. The high of 94 degrees at Medford OR was
also the warmest of record for so early in the season.
1989---Top
Hits
Like
a Prayer - Madonna
I’ll
Be There for You - Bon Jovi
She
Drives Me Crazy - Fine Young Cannibals
Young
Love - The Judds
1989
- Thunderstorms swept across Georgia and the Carolinas during the late
afternoon and evening hours spawning seventeen tornadoes. A tornado
at Toccoa GA injured 15 persons, and a tornado at Chesnee SC killed
two persons and injured 35 others. Five tornadoes in North Carolina
accounted for five deaths, 88 injuries, and sixty million dollars damage.
Thunderstorms also produced baseball size hail at Lake Murray SC, and
wind gusts to 78 mph at Brooklyn MD.
1990
- A strong Pacific cold front moving rapidly inland caused weather conditions
at the east end of the Strait of Juan de Fuca in Washington State to
quickly change from sunny and calm to westerly winds of 60 mph and ten-foot
waves. Three recreational fishing boats capsized in heavy seas off Port
Angeles resulting in five deaths. In California, temperatures soared
above 90 degrees across much of the state. The high of 101 degrees in
downtown Los Angeles was eight degrees hotter than their previous record
for the date
1993- Microsoft announced it
would bundle its popular database software, Microsoft Access, with its
Microsoft Office package, which already included MS Word and Excel.
Microsoft's competitors, including Lotus and WordPerfect, also added
database software to their office software suites.
1995
-a supercell thunderstorm rapidly developed just ahead of a fast moving
bow echo squall line and blasted Tarrant County, Texas. Large hail up
to 5 inches in diameter, driven by 80 mph winds, caused a tremendous
amount of damage. 10,000 people were caught out in the open at Mayfest
in Downtown Forth Worth, resulting in 109 injuries from the large hail.
Torrential rains of up to 3 inches in 30 minutes and 5 inches in one
hour across Dallas caused unprecedented flash flooding, resulting in
16 deaths. Total damage in Forth Worth alone was estimated at 2 billion
dollars, making this the costliest thunderstorm event in U.S. history.
This was the third severe hailstorm to Strike the area in only a little
over a month.
2000
-Cardinal first baseman Mark McGwire hits the longest home run in the
30- year history of Riverfront/Cinergy Field, but the 473-foot shot
isn't enough as Ken Griffey Jr.'s homer leads the Reds past St. Louis,
3-2.
NBA Finals Champions
This Date
1969 Boston Celtics
Stanley Cup Champions
This Date
1966 Montréal Canadiens
|
Baseball Is by Greg Hall
© |
|
Published:
ESPN Radio
(2000) |
|
Baseball is grass, chalk, and dirt displayed the same yet
differently |
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