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Leasing Industry Help Wanted
Pictures from the Past---1997---Victor Harris
March 28,2003 Leasing News ran this picture of Victor. He will be the
News correspondent covering the 5th Annual “Big Deal Bash” at he Fairmont
San Francisco, Crown Room tonight co-hosted by Paul Weiss and
Unfortunately Sue’s 86 year old father had an emergency quadruple by-pass surgery and it has turned our plans upside down, including attending the “Big Deal
Bash.” Right now he is doing “fair,” and his wife of
63 years quite upset. At the last minute, we asked Victor to cover the
event for us, giving him carte blanche, and no time limit condition
to turn in his report. He was
busy, and generous to say, “yes.” I wanted to send him a good bottle
of wine for doing this, and he said, “ It is not necessary, Kit, I am
doing this as a favor for you.”
Victor Harris has practiced law since 1972. He has a litigation and
transactional practice located at the Law Offices Of Victor Harris in San
Mr. Harris has focused on commercial finance for the last
19 years, including equipment leasing, asset-based lending, and secured
transactions. His clients include financial institutions and equipment
leasing companies (funders, lessors and brokers), and his representation
extends to collection and defense litigation, workouts, transactional and
other documentation matters, lender liability, and mixed collateral
He is a 1968 Phi Beta Kappa graduate from the University
of California at Berkeley, and received his J.D. degree with honors from
Harvard University Law School in 1972. For the past 19 years, Victor has
been a contributing author of the California Attorneys’ Damages Guide,
by the California Continuing Education Of The Bar.
has also published the following articles for Monitor Leasing &
Financial Services: "The Distinction Between A True Lease And A
Security Interest" (three part series, November 1998- April 1999);
and "Check Your Lessee’s Insurance To Be Sure It Contains ‘Standard’
Language" (September 1998). He has been a
served as a member of the Financial Institutions Committee for the Bar
Of California (Business Law Section) during 1995-1998.
Harris currently is a member of UAEL’s Board of Directors, and also
is a member of UAEL’s Standards Committee and UAEL’s Legal Committee.
He can be reached at the Law Offices Of Victor Harris, 1050 Northgate
Drive, Suite 360, San Rafael, California 94903-2541, Telephone (415)
479-8000, Facsimile (415)479-8111,
Here is perhaps a more appropriate picture of Mr. Harris at bat in 1993:
Go here to see the “Big Deal Bash” invitation and sponsors:
### Press Release ##########################################
Ameriana Bancorp Will Write Off CMC Bankruptcy Portfolio
NEW CASTLE, Ind.----Ameriana Bancorp (NASDAQ/NM: ASBI) reports that it has completed the previously announced sale of its two Cincinnati-area branches, located in Deer Park and Landen, Ohio, to Peoples Community Bancorp, Inc. (NASDAQ/NM: PCBI) of West Chester, Ohio. In connection with the sale, Ameriana will record an after-tax gain of approximately $2,940,000 or $0.93 per diluted share in the third quarter ending September 30, 2003.
The transaction included Ameriana's real property related to the Deer Park branch and its leasehold on the premises for the Landen branch. Additionally, Ameriana conveyed most consumer and commercial loans at those branches as part of the transaction, as well as the branches' savings deposits, but retained and will continue to service certain single-family residential mortgages originated in those locations.
Commenting on the announcement, Harry J. Bailey, President and Chief Executive Officer, said, "The sale of these branches will allow us to intensify our focus on our core market, one that stretches from New Castle to western Indianapolis, where we currently have nine branches and a stronger presence. We are excited about the prospects for growth in this region and are already working to capitalize on the opportunities we see here with the construction of a new branch in McCordsville. We believe this will be a strategic addition to our franchise that will help fill in the Hancock County corridor."
Separately, Ameriana said it will write off two lease pools in the third quarter, an action that will reduce the quarter's net income by approximately $2,784,000 or $0.88 per diluted share. Heretofore, Ameriana had established reserves against these lease pools equal to approximately 58% of the approximately $10,900,000 that currently remains outstanding.
As previously reported, during 2001 Ameriana purchased two pools of equipment lease receivables originated by the Commercial Money Center ("CMC"), a now-bankrupt equipment leasing company. Each lease in the pools was backed by a surety bond issued by one of two insurance companies guaranteeing payment of all amounts due under the leases in the event of default by the lessee. Both insurers now claim they were defrauded by CMC and are denying responsibility for payment. Ameriana and other financial institutions participating in the lease pools have initiated litigation against the sureties.
Recently, the uncertainty surrounding the prospects for eventual recovery from the sureties increased due to a ratings change on one of the two sureties involved in the transaction, the Kemper Insurance Companies, which was downgraded to "D" by A.M. Best.
"While we continue to believe that the surety bonds are enforceable against the insurers, and we intend to pursue that issue aggressively, it is clear that current litigation in this matter will be more protracted and challenging than we originally thought," Bailey said. "Aside from the inherent uncertainty surrounding the potential for recovery and its timing, we believe regulators will be increasingly conservative in their stance toward the level of reserves they consider prudent in this matter. Already, we have witnessed this, and the recent questions about Kemper's financial strength will likely intensify regulatory concerns. Accordingly, in keeping with Ameriana's conservative method for reserving against its assets, we believe that it is in the interest of our shareholders to take this final step to write off these lease pools completely." Bailey noted that despite the write off, Ameriana's regulatory capital is expected to remain well above required levels at September 30, 2003.
Ameriana Bancorp, New Castle
Harry J. Bailey, 765-529-2230
(Note: NetBank and others have taken over certain aspects of the defaulted
portfolio, as reported earlier, and suits with the insurance agency surety
continue, while the class action suit continues taking depositions, while
the former officers have started new leasing and finance ventures. editor)
For related stories, please go here:
### Press Release ################################################
Milestone Capital, Inc. Files for Chapter 11 Bankruptcy Protection
FAIRFIELD, N.J.----Milestone Capital, Inc. (OTCBB:MLSP), announced it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company said this action was necessary to restructure its finances. The petitions, filed on Friday, September 26, 2003, in the U.S. Bankruptcy Court for District of New Jersey, in Newark, also seek bankruptcy protection for a subsidiary of the Company: EliteAgents Mortgage Services, Inc. The Newark office of Duane Morris, LLP is counsel to the Company.
The Company said the filing would enable it to refocus on operating its businesses and serving its customers while it develops a plan of reorganization to resolve its debt liabilities.
About Milestone Capital, Inc.
Milestone is a diversified financial services company whose objective is to develop a product offering, which will include residential and commercial mortgages, equipment leasing, insurance products, SBA loans and selected consumer loans.
Milestone Capital, Inc.
Howard Conyack, 800-848-5442 ext. 3009
SOURCE: Milestone Capital, Inc.
E-Mail Removal Form: \http://220.127.116.11/LeasingNews/removalform.asp
### Press Release #################################################
Aimbridge and MacDill FCU Build Indirect Lending Connectivity; New Technology Decreases Time to Enter Loan Data from Eight Hours to Five Minutes
DENVER----Aimbridge Indirect Lending and Tampa Bay-based MacDill Federal Credit Union announced the development of technology that connects the credit union to their funded loan application data, enabling MacDill FCU to automatically retrieve loan data using electronic file transfer technologies in a batch format. After the data is retrieved, it is prepopulated in the MacDill database fields so that the credit union can complete the automobile loan process. For new credit union members, the technology will also automatically create new accounts before entering the loan information. Aimbridge Indirect Lending is a division of The Aimbridge Group and a financing channel that links credit unions with an automotive dealer network to provide members and potential members with automobile loans and leases.
Prior to developing the connectivity technology, MacDill FCU received a faxed funding report from Aimbridge detailing pertinent information the credit union needed to create a loan, including the member's name, address and vehicle information. Four employees from MacDill Federal Credit Union's Loan Advantage Center had to manually enter each one of the loans into the credit union's core system, Symitar. Each loan took approximately 10 to 15 minutes to complete.
Brad Sears, CIO of MacDill FCU, said, "The first day we tested the new connectivity technology, we processed more than 100 loans in five minutes. It would have easily taken our employees eight hours to enter that loan information into our system. The faxed information was often difficult to read, which allowed room for errors. Developing this technology with Aimbridge saves us a tremendous amount of time, and it also ensures that our accuracy increases by 100 percent."
Steve Bentley, CEO of The Aimbridge Group said, "This file transfer solution is the first phase in developing PowerBridge, an online, real-time system that sends loan information to credit unions at the same time we receive it. The results MacDill experienced are an excellent example of faster and more efficient technology that we continue to provide for our partnering credit unions."
About MacDill Federal Credit Union
MacDill Federal Credit Union, based in Tampa, Fla., serves active and retired military, MacDill Air Force Base civilian personnel and select employee groups. The credit union has 15 locations throughout the Tampa Bay area and offers mortgages, low rate auto loans, online banking, auto buying services, direct deposits and other services. For more information on MacDill, visit www.macdill.org.
About The Aimbridge Group
Founded in 1984 and headquartered in Denver, The Aimbridge Group markets financial products, such as auto loans and leases, mortgages and insurance products through partnerships with credit unions. The company helps their partners attract members and deepen their relationships by providing members with more reasons to do business with their credit unions.
The Aimbridge Group is comprised of five divisions, including Aimbridge Indirect Lending, Aimbridge Leasing, Aimbridge Mortgage, Aimbridge Financial Services and Aimbridge Automotive Group. While the company is headquartered in Denver, it has remote offices located across the United States.
For additional information, write The Aimbridge Group at 4610 S. Ulster St., Suite 300, Denver, Colorado 80237 or contact Andrea Harris at 303-306-3231. Visit its Web site at www.aimbridge.com.
Media Contact for The Aimbridge Group, Denver
Katie Hogan, 678-781-7225
#### Press Release #############################################
Edmunds.com Reports Automakers' True Cost of Incentives: 2004 Model Year Vehicles Average Over $1500 Incentives Per Vehicle; Domestics Spend a Record High While Market Share Drops to Historic Low
SANTA MONICA, Calif., - Edmunds.com (http://www.edmunds.com), the premier online resource for automotive information, reports that the average manufacturer incentive per vehicle sold in the United States was $2,630 in August 2003, up $524 or 24.9% from August 2002 and down 1.4% from July 2003.
"The decline from August is caused by the sales-weighted averaging of 2003 and 2004 model year vehicles, and reflects the higher level of sales of 2004 model year vehicles in the more recent month. Incentives for 2003 model year vehicles averaged $2,842 -- up $36 for the month -- while 2004 models averaged a lower, but remarkable, $1,547 -- up $89 for the month," stated Dr. Jane Liu, Executive Director of Data Analysis for Edmunds.com.
Edmunds.com's monthly True Cost of Incentives(SM) (TCI(SM)) report takes into account all of the manufacturers' various United States incentives programs, including subvented interest rates and lease programs as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
Incentives spending for domestic Chrysler, Ford and General Motors nameplates hit a record high of $3,687 per unit in August, compared to $1,752 for European automakers, $1,484 for Korean automakers, and $1,032 for Japanese automakers.
Despite the increased incentives spending by the domestic manufacturers, their market share declined to an historic low of 57.6%. In August, Ford's incentives spending went up by 2.8% to $3,472 per unit while its market share dropped 0.6% to 17.5%. General Motors' incentives spending per vehicle went over the $4,000 mark for the first time in August, up 1.4% to $4,025 per unit, while its market share declined 1.3% to 28.4%. Chrysler increased its incentives spending by 0.7% to $3,193 but saw its market share decline 0.1% to 11.7% in August.
Among vehicle segments, large SUVs had the highest average incentives last month at $4,166, followed by vans at $3,597 and large cars at $3,536. Sports cars had the lowest average incentives at $1,124, followed by luxury SUVs at $1,599 and compact SUVs at $1,619. Large trucks have gained the most market share since August 2002, up 2.1% to 14.1%, while compact cars have lost the most market share during that period, down 2% to 14.2%.
Industry average 'days-to-turn,' which measures how many days on average it takes to sell a vehicle after it hits the dealer's lot, reached a record level of 74 days in August, compared to 61 days last August. Mitsubishi had the longest days-to-turn at 132, followed by Saturn at 109. The quickest inventory turnaround was for Mini, at 18 days, followed by Lexus at 28 days.
About Edmunds.com True Cost of Incentives(SM) (TCI(SM))
Edmunds.com's TCI(SM) is a comprehensive monthly report that measures automobile manufacturers' cost of incentives on vehicles sold in the United States. These costs are reported on a per vehicle basis for the industry as a whole, for each manufacturer, for each make sold by each manufacturer and for each model of each make. TCI covers all aspects of manufacturers' various incentives programs (except volume and similar bonus programs), including dealer cash, manufacturer rebates and consumer savings from subvented APR and lease programs (including subvented lease residual values used in manufacturer leasing programs). Data for the industry, the manufacturers and the makes are derived using weighted averages and are based on actual monthly sales and financing activity.
About Edmunds.com, Inc.
Edmunds.com (http://www.edmunds.com) is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value(R) pricing, is generated by Edmunds Data Services and is licensed to third parties. For example, the company supplies over 800,000 pages of content for AOL's auto channel and NYTimes.com's auto section and delivers monthly data reports to Wall Street analysts. Edmunds.com was named "best car research" site by Forbes ASAP, is viewed by consumers as the "most useful Web site" according to the J.D. Power and Associates New Autoshopper.com Studies(SM) for both 2001 and 2002, and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, California and maintains a satellite office in Troy, Michigan.
ST: California, Michigan
SU: SVY ECO
Web site: http://www.edmunds.com
Classified Ads---Senior Management
Senior Management: Baltimore, MD
25 year veteran of commercial and equipment leasing seeking a senior management position with leasing or asset based financing company in the southeast (Florida preferred)
Senior Management: Denver, CO. Fortune 500 GM/SVP wants to team up with aggressive lender looking for Western expansion mid-market equip. finance/ leasing.20+ years experience within Rocky Mountain/Southwest and Ca markets. email: email@example.com
Senior Management: Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future. Email:firstname.lastname@example.org
Senior Management: San Francisco, CA., 25 years experience w/global leasing company, sales,marketing,business dev., P&L responsibility, asset mgmt, brokering and remarketing. Interested in joining an est. firm with a future. email:email@example.com
Senior Management: Portfolio Management Consultant; 25+years experience in Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous Process Improvement, Backend Revenue Generation, Cost per Collection Analysis. $5+Billion Portfolio expertise. email: firstname.lastname@example.org
71 Job Wanted Ads at:
Motors Acceptance Corp. and MBNA Corp. on Tuesday sold $2.6 billion
Sun stock plummets after company announces $1.05 billion charge
Slowing Stream of New Jobs Helps to Explain Slump
Verizon offers buyout to its 74,000 management employees
Ford plans to cut 3,000-plus jobs, including 1,700 contract workers
Car-Loan Rates Marked Up More for Blacks, Report Says
Consumer confidence plummets in September
Isabel Leaves N.C. Farmers Struggling
Study finds traffic congestion bad and getting worse, especially in L.A.
After Los Angeles, the San Francisco-Oakland area was next at 68 hours,
followed by Denver (64), Miami (63) and Chicago and Phoenix, which tied for fifth (61).
Twins Have Field Day With Yankees' Imperfections
Wood and Cubs Act as if They've Been Here Before
Strong Pitching and Muffed Bunt Lift Giants
Schmidt: The best since Marichal?
Best of All Possible World Series
Panthers sign Jenkins to $31 million, five-year extension
Packers acquire Swinton From Cowboys
California Nuts Briefs—
Huffington Drops Out Of Race in California/Back "No Recall"
Recall, Schwarzenegger ahead in new LA Times poll
Many Heads Could Roll if Schwarzenegger Wins
$24,000 ASKING PRICE FOR NUDE ARNOLDS...
(A funny one, but a long down load)
This Day in American History
1608- a glass factory was established in Jamestown, VA. Eight German and Polish mechanics were imported to start the new industry. Among the factory’s products were glass beads for use in trade with the Native Americans. The factory remained in operation spasmodically for about seven years and was then disbanded, owing chiefly to the fact that the workers found it more profitable to grow tobacco for shipment to England. It appears Europe had never chewed,
snuff, smoked in a pipe, paper, or tobacco wrapper before. They quickly
became quite addicted to the import from the colonies. The London Company later sent Captain William Norton, accompanied by four Italians and two servants, to revive the Jamestown glass factory, which resumed operations on July 25,1621. The massacre of the colonists by Native Americans in 1622 put an end to it.
1781-Birthdday of James Lawrence, brilliant American naval officer, whose last battle was a defeat, but whose dying words became a most honored navlal motto. Lawrence, born at Burlington, NJ, was captain of the Chesapeake when she engaged in a naval duel with HMS Shannon off Boston, June 1, 1813. The Chesapeake was captured and towed to Halifax, as a British prize. Lawrence was mortally wounded by a musket ball during the engagement and uttered his famous last words, “ Don’t give up the ship,” as he was being carried of the ship’s deck.
1861-The first Union ship captured in the Civl War was the U.S.S. Fanny, an Army stream tug that grounded on a shoal in Pamilico Sound, NC, while it was en route to Chicomacomica, the encampment of the 20th Indiana Regiment. The pilot and deckhand escaped by swimming ashore, but the ship was caputred by Confederate naval forces. Also caputred were the Raleigh, a small iron-hull propeller-driven towing steam, the Jualuska, a vessel of 79 tons, and the Culew, 260 tons.
1864- Rose O'Neal Greenhow drowned when her small open boat overturned while attempting to run the blockade of the harbor of Wilmington, North Carolina. Her clothes were weighed down with gold coins she was attempting to smuggle into the cash-poor South. Before her death, she was a spy for the confederacy and had been imprisoned by the Union secret service. After being released, she traveled to Europe to aid the Confederacy by collecting funds. It was those funds, sewn into her clothes, that caused her death. A monument in Wilmington commemorates her accomplishments as well as a marker in the marvelous historical district of that city.
“Oakdale Cemetery 520 N. 15th St., Wilmington When Nance Martin died at sea in 1857, her body was preserved, seated in a chair, in a large cask of rum. Six months later she was interred at Oakdale Cemetery, cask and all. Her monument and many other curious, beautiful and historic markers are to be found within the labyrinth of Oakdale Cemetery, Wilmington's first municipal burial ground, opened in 1855. At the cemetery office, you can pick up a free map detailing some of the more interesting interments, such as the volunteer firefighter buried with the faithful dog that gave its life trying to save his master, and Mrs. Rose O'Neal Greenhow, a Confederate courier who drowned while running the blockade at Fort Fisher in 1864. Amid the profusion of monuments lies a field oddly lacking in markers-the mass grave of hundreds of victims of the 1862 yellow fever epidemic. The architecture of Oakdale's monuments, its Victorian landscaping and the abundance of dogwood trees, make Oakdale beautiful in every season. The cemetery is open until 5 PM every day. Bicycles are not permitted.”
1867-Morgan State College Founded in Maryland.
1880 - A new director of the United States Marine Corps Band was named. John Philip Sousa became the band’s 17th leader. In 1888 he composed "Semper Fidelis", traditionally known as the official march of the Marine Corps.
-American churchman A. B. Simpson founded the first school in America
to train missionaries, in New York City. Called the Missionary Training
Institute in 1894, its name was changed to Nyack College in 1972.
1889 -Birth of Ralph W. Sockman, American scholar and devotional writer. His best-remembered poem begins: "I met God in the morning, when my day was at its best...."
1890-Yosemite Valley and Mariposa Big Tree Grove, granted to the State of California June 30, 1864, were combined and established as a national park.
1892-The university of Chicago opened with an enrollment of 594 and a faculty of 103, including eight former college presidents.
1893-Birthday of singer Kid Sox Wilson, Jacksonville, FL.
1896-Rural Free delivery mail was established.
1896- the first all-fiction pulp magazine was the Argosy, 1092 pages, 7 by 10 inches. It was published in New York City, starting a craze of such magazines.
1903-The First Modern World Series Game: The Pittsburgh Pirates defeated the Boston Pilgrims ( later the Red Sox ), 7-2, in the first game of the 1903 World Series, the first postseason series matching the champions of the National League and the American League. Jimmy Sebring of Pittsburgh hit the first World Series home run. Deacon Phillippe was the winning pitcher. Cy Young the loser.
( bottom half of: http://memory.loc.gov/ammem/today/oct01.html )
1904-Bulk mail was authorized by Congress on April 28, 1904, and went into use this day. It permitted 2,000 or more identicalpieces of third-class or foruth-class mail to be mailed without stamps, affixed, in exchange for a fee.The denomination of the postage, the place of mailing, and the permit issued by the post office for the mailing was printed in place of the stamp.
1908-Ford introduced the Motel T at a price of $850 but by 1924 the basic model sold for as little as $260. Between 1908 and 1924 Ford sold 15,007,033 Model Ts in the US. Although the first Model Ts were not built on an assmelby line, the demand for the cards was so high that Ford developed a system where workers remained at their stations and cars came to them. This enabled Ford toturn out a Motel T every 10 seconds. 1920-Birthday of guitarist/harmonica player Johnny “ Blind” Brown, Montgomery, AL.
1913-The first monument to a bird was unveiled at Salt Lake City, UT. It was designed by Mahonri Young, a grandson of Brigham Young, to commemorate the sea gulls from teh great Salt Lake that attacked a devouring horde of black crickets, or grasshoppes, that were destroying the weat fields of the Mormon settlers in May, 1848.
1921- Margaret Hillis birthday - One of this nation's most distinguished conductors .
* received Master's degree in choral conducting from Juilliard School of Music (1949),
* Robert Shaw's assistant for two years,
* resident conductor of the Chicago Civic orchestra,
* formed the American Concert and American Concert Orchestra in 1950,
* founded and became music director of the American Choral Foundation in 1954,
* appointed chorus director of the Chicago Symphony in 1957,
* appointed chorus director of the Cleveland Symphony in 1969.
She also created, organized and conducted the Chicago Symphony Chorus and the Elgin (Illinois) Symphony Orchestra, was resident conductor of the Civic Orchestra of Chicago, and chaired the Department of Choral Activities at Northwestern University. In 1977 she subbed for an ailing George Solti to conduct Mahler's monumental Eighth Symphony which has 400 musicians and singers. She got rave reviews - but was sent back to the chorus podium. Hillis won a Grammy award for "the best choral performance of 1977" for the Verdi Requiem with Solti conducting, and again in 1978 for the Beethoven Missa Solemnis. From early childhood in Kokomo, Indiana, she accompanied her mother to travel to concerts, sometimes 16 in two weeks. Her grandmother had a full pipe organ in her living room (pipes in the basement). She died in Febuary 6, 1998.
1924- birthday of Jimmy Carter, thirty-ninth US President (1977-81).
1928 - Duke Ellington recorded "The Mooche" on the Okeh label.
1928 - "Forever", by Ben Pollack and his band, was recorded on Victor Records. In Pollack’s band were two talented young musicians: Benny Goodman and Jack Teagarden,
1932- Babe Ruth, In the fifth inning of game three of the World Series, with a count of two balls and two strikes and with hostile Cubs fans shouting epithets at him, Babe Ruth pointed to the center field bleachers in Chicago’s Wrigley Field and followed up by hitting a soaring home run high above the very spot to which he had just gestured. With that homer Ruth squashed the Chicago Cubs’ hopes of winning the game, and the Yankees went on to sweep the Series with four straight victories. For more than half a century the question has remained: Did Ruth actually call his shot that day? Even eyewitnesses disagree. Joe Williams of The New York Times wrote, “In no mistaken motions, the Babe notified the crowd that the nature of his retaliation would be a wallop right out of the confines of the park.” But Cubs pitcher Charlie Root said, “Ruth did not point at the fence before he swung. If he’d made a gesture like that, I’d have put one in his ear and knocked him on his ass.” Ruth’s daughter has said that he denied it. But the Babe himself also claimed he had. Fact or folklore? Either way, legend!
1932-Birthday of guitarist Albert Collins, Leona, TX.
1933- Babe Ruth had pitched only once in 12 years when he took the mound for the New York Yankees in their final game of the season. Ruth hurled all nine innings, hit a home run in the fifth and beat his original team, the Boston Red Sox, 6-5. It was a fitting finish to his 20th season in the majors: because this turned out to be his last pitching appearance, his 1-0 record in 1933 meant that Ruth never had a losing season as a pitcher.
1935-Birthday of Ulie Andrews ( Julia Wells, singer, actress, born Walton-on’Thames, England.
1935-Benny Goodman Band closes at Palomar, LA, after launching big band era with its August 21st opening.
1935-Birthday of singer Ann Richards http://www.mrlucky.com/songbirds/html/may99/a_arichards.html
1936-Birthday of harmonica player George “Wild Child” Collins, Autaugaville, AL.
1940-Birthday of accordian player Marc Savoy, Eunice, LA
1942- The first jet airplane designed and built in the United was the XP-59, an Airacomet, built by the Bell Aircraft Corpporation, Buffalo, NY, and flown for the first time at a secret testing base in Muroc,CA, by Robert Morris Stanley. It was rated over 400 miles per hour and in excess of 40,000 feet. The hgiher the latidue ( up to a certain maximum,) the faster it flew. It employed two turbojet engines built by the Generla Electric Company from designs made by Group Captain Frank Whittle, the British inventor. The fuel was generally kerosene, although anythign that burned could be used as a subsittute. There was no propeller.
1944- Emil “Dutch” Leonard defeated the Detroit Tigers, 4-1, to pitch the St. Louis Browns to the only American League Pennant in their history. The Browns went on to lose the World Series to the St. Louis Cardinals, four games to two.
1947-On this day the first residents moved into what would become Levittown at Long Island, NY. The community developed by William Levitt and his borther Alfred with their father Abraham started as affordable rental houses bu lt for returning World War II vbeterans. In 1948 the Levitts began to sell the 800-square-foot homes for under $8,000. By 1951, when the first community was finished, the Levitts had built 17,447 mass-produced Cape Code and ranch homes. In 1952, they started construction of a new Levitttown in Bucks County, PA, where they built another 17,000 houses, and beginning in 1958, they build another 12,000 homes in Wilingboro, NU.
1951- the first commercially made transistor was produced by the Western Electric Company, Allentown, PA, for long-distance dialing equipment of the Bell Telephone System.
1952- “This is Your Life” premiered on TV. Ralph Edwards hosted this program that lured unsuspecting guests on the show and surprised them by detailing their lives and achievements with their family and friends. It began as a radio show in 1948. 1957 - U.S. B-52 bombers in the Strategic Air Command went on 24-hour alert status because of the perceived threat of an attack from the Soviet Union.
1955- "Honeymooners" premieres on TV. Originally a skit on the “Jackie Gleason”, Ralph Kramden ( Jackie Gleason), bus driver, Ed Norton (Art
Carney), sewer worker, Alice Kramden (Audrey Meadows), Ralph’s wife,
and Trixie Norton ( Joyce Randolph), Ed’s wife had a two year run (39)
episodes that are still re-running on TV today. There was little rehearsal--Gleason liked it that way--and there were no second takes--the show went out live. The sets were painted cardboard (with the only apartment doors in the world that opened out instead of in). And nobody imagined this short run series of half-hour episodes would rerun continuously somewhere on TV for the next 50 years They are on video today, including the four lost episodes.
1955- In Game 4 of the World Series at Ebbets Field, the Dodgers defeat the Yanks, 8-5.
Wake Up Little Susie - The Everly Brothers
Honeycomb - Jimmie Rodgers
Chances Are/The Twelfth of Never - Johnny Mathis
My Shoes Keep Walking Back to You - Ray Price
1961- Roger Maris of the New York Yankees hit his 61st home run, breaking Babe Ruth’s record for most home runs in a season. Maris hit his homer against Pitcher Tracy Stallard of the Boston Red Sox as the Yankees won 1-0. Controversy over the record arose because the American League had adopted a 162-game schedule in 1961 and Maris played in 161. In 1927, when Ruth set his record, the schedule called for 154 games and Ruth played in 151. On the this date, exactly two years later, a baby named Mark McGwire will be born. On September 8, 1998, Mark McGuire of the St. Louis Cardinals hit his 62nd home run, breaking Maris’ record.
(box score ) http://www.nationalpastime.com/100161bs.html
1962 - “From New York ... heeeeeeeeeere’s Johnny!” Ed McMahon introduced the new host of NBC’s "Tonight Show" for the first time. Johnny Carson entertained late-night America for nearly three decades. His first guest was Barbara Stanwick. He is reportedly sufferring from emphysema.
1962- Barbra Streisand signs her first recording contract (with Columbia)
1962-“The Merv Griffin Show” premiered on TV. Singer and game show king Merv Griffin’s first effort as an afternoon talk-show-host premiered on NBC but was later dropped for syndication. The afternoon show continued until 1969 when Griffin was tapped to host a late-night program on CBS to complete with “The Tonight Show” with Johnny Carons.
1963-Birthday of baseball player Mark McGuire, Pomona, CA.
Eve of Destruction - Barry McGuire
Hang on Sloopy - The McCoys
You Were on My Mind - We Five
Is It Really Over? - Jim Reeves
1971- Disney’s second theme park opened at Orlando, FL.
The opening was planned for October when the crowds were slower. Disney planners wanted everything to move slowly at first, so any problems that sprang up could be fixed with minimal guest inconvenience. The dedication of the park was held on October 25, 1971. Roy O. Disney stood with Mickey Mouse in Town Square and read the dedication plaque: “Walt Disney World is a tribute to the philosophy and life of Walter Elias Disney . . . and to the talents, the dedication, and the loyalty of the entire Disney organization that made Walt Disney's dream come true. May Walt Disney World bring Joy and Inspiration and New Knowledge to all who come to this happy place . . . a Magic Kingdom where the young at heart of all ages can laugh, and play, and learn - together.” Walt Disney World eventually became the world’s largest, man-made, tourist attraction.
1972-“Kung Fu” premiere on television. David Carradine starred in this unusual ABC western as Kwai Chang Caine, a half-Chinese marital arts master drifter who was exiled from China. Appearing in flashback were Keye Luke as Master Po, Philip Ahn as Master Kan and Radaman Pera as the younger Caine. The show ran for three years. “Kung Fu” returned in a 1986 TV movie introducing the late Brandon Lee as Caine’s son. A sequel series currently appears in syndication staring a much older Carradine.
1973- In the first game of a scheduled make-up double-header at Wrigley Field, a day after the regular season ends, the Mets beat the Cubs, 6-1,to capture National League East flag. The Miracle Mets, who were 11 and half games behind and in last place on August 5, by winning its 82nd game, (the lowest number victories ever to win a title) clinch the division making the second game of the twin bill unnecessary to play.
We’re an American Band - Grand Funk
Half-Breed - Cher
Loves Me like a Rock - Paul Simon
Blood Red and Goin’ Down - Tanya Tucker
1975- Muhammad Ali scored a 15-th round TKO against Joe Frazier to retain the heavyweight championship in a fight billed as the “Thriller in Manila.”
1977- Pele, generally considered the greatest soccer player ever, played the last game of his career before 75,646 fans at Giants Stadium. Pele played the first half for the New York Cosmos and the second for Santos of Brazil, his original team.
1977- the first member of the American Revolution who was African-American was Karen Batchelor Farmer of Detroit, MI, who became the 623,128th member of the Daughters of the American Revolution. She traced her ancestry to William Hood, who served in the militia of Lancaster, PA, during the Revolutionary War.
1979-The first Pope to visit the White House in Washington, DC, was Pope John Paul II, who flew across the Atlantic in the Shepherd I, landing in Boston, MA. In six days, he visited Boston, New York, Philadlephia, Urbandale, IA, Chicago and Washington. He returned to Rome from Andrews Air Force Base, near Washington, ON October 6.
1980 -With much media and fan pressure Red Sox fire manager Don Zimmer.
1980 - "Ladies’ Home Journal" startled readers. Robert Redford became the first male to appear alone on the cover. It had taken 97 years for the magazine to change its no-men-on-the-cover policy.
Endless Love - Diana Ross & Lionel Richie
Queen of Hearts - Juice Newton
Stop Draggin’ My Heart Around - Stevie Nicks with Tom Petty & The
Tight Fittin’ Jeans - Conway Twitty
1982-The first compact disc player, developed jointly by Sony, Phillips and Polygram, went on sale. It cost $625 ( more than $1,000 in current dollars ).
1982- Remington Steele” premiers on TV. Laura Holt (played by Stephanie Zimbalist, daughter of Efrem Zimbalist, Jr), an imaginative private detective, could not get a case of her own—until she made up a partner, Remington Steele, who was conveniently out of the office when clients came-a-calling. Then she met the suave stranger (Pierce Brosnan) with a foreign accent who called himself Remington Steele. They began a working partnership.., which ended in marriage. The show aired on NBC for five years, with the last telecast on Mar 9, 1987, and costarred James Read, Janet DeMay and Doris Roberts
1983 - Bonnie Tyler’s "Total Eclipse of the Heart" began a four-week run as the number one single in the U.S. The song, from her "Faster Than the Speed of Night" album, ran 5 minutes, 36 seconds and it took a day or two to get out of your head after you listened to it...
1987 - An earthquake in Los Angeles (eleven miles southeast of Pasadena) killed eight people and injured 200. The quake caused $358 million in property damage and measured 5.9 on the Richter scale.
Girl I’m Gonna Miss You - Milli Vanilli
Heaven - Warrant
If I Could Turn Back Time - Cher
Let Me Tell You About Love - The Judds
1990- President George H. Bush at the United Nations in New York City condemns Iraq's takeover of Kuwait, seeks support from the United Nations.
Even though he was the former US Ambassador to the UN and knew the
“system, “ it took him almost six months to get support after August 2,
when the Iraqi armed forces invaded Kuwait and overran it in a matter of hours.
We sent troops to Saudi Arabia on August 7, started a Naval Blockage on
August 9. August 10, at a meeting in Cairo, 12 of the 21 member nations of the Arab League voted to support the UN and U.S. action. By November 8, some 230,000 American troops were in Saudi Arabia and President Bush announced that 150,000more would be sent. The UN Security Council on November 29 voted to authorize the US and its allies to use force to expel Iraq from Kuwait if its troops did not leave by January 15, 1991. By the end of 1990, 580,000 Iraqi troops were believed to be in Kuwait or southern Iraq. Facing them were 485,000 troops of 17 allied countries, with many skirmishes, while Iraq exterminated tribes, took over
land, ransacked the country, and eventually set fire to the oil wells, disregarding all UN sanctions and the alliance of Arab nations supporting his ouster of
Kuwait and other areas he claimed as now belonging to him.
1993 - The hauntingly beautiful "I Know I Got Skill", by Shaquille O'Neal, was released. Just a sample: “...I’m big like Gorilla, 6-7, large, I kick rhymes like moduck-kwong you, I smoke-smoke the mic-mic, I Cheech and Chong you, you don’t like Shaq, frankly I don't give a damn, I know I got skills man, I know I got skills man...”
1994 - Eric Clapton’s album "From the Cradle" was number one in the U.S. The rest of the top five for the week: "II" (Boyz II Men); "Rhythm of Love" (Anita Baker); "The Lion King" (soundtrack); "Dookie" (Green Day).
1995- The Yankees and Rockies become first wild-card teams in new major league baseball playoff system.
1996 - Theodore Kaczynski was charged by a U.S. federal grand jury with mailing a bomb that killed advertising executive Thomas Mosser in 1994. Kaczynski, known as the Unabomber, pleaded guilty in January 1998 to mail bombings that killed three people and injured 23. He was sentenced in July 1997 to life without possibility of parole by a federal court in Sacramento, California.