Credit: Well established, highly respected funding source seeks experienced credit officer for unique broker oriented small ticket leasing operation located in San Diego,CA.
email: rwagner4@san.rr.com

About the Company: www.pentechfinancial.com

Credit: Officer with 1+ yrs. experience. Admin. emphasis, high volume, small ticket leasing, average 100 approvals per month.
E-mail: ecarlberg@alliancefunds.com

About the Company: Anaheim, CA. www.alliancefunds.com

Seeking salesperson with 1+ years experience in the Medical Equipment Leasing industry. Great opportunity for growth. Amazing compensation plan, benefits and 401K plan. Second to none work environment.
E-mail: ecarlberg@alliancefunds.com

About the Company: Anaheim, CA. www.alliancefunds.com

Stable funding source seeks experienced leasing representative; book of business required; remote office capability; send resume to jobs@balboacapital.com and reference leasingnews in subject line.

SALES: Los Angeles, CA. Successful leasing company in business 10+years seeking experienced sales professional in vendor programs.Generous commissions,benefits and growth potential.
e-mail:leticia@julesandassociates.com

[Headlines]

________________________________________________________________________

Is mortgage credit deteriorating?

ABSnet

Though delinquency rates for mortgage loans rose for the second quarter report (after three consecutive quarterly declines) and are expected to show a slight up tick in the third quarter report, Jay Brinkmann, vice president of research and economics at the Mortgage Bankers Association (MBA), said that the national delinquency rate would start to trend downward as the economy starts

to improve. The results were reported in the MBA’s National Delinquency Survey.

This optimistic outlook is echoed by Freddie Mac economist Frank Nothaft. He said that this year has probably seen the peak for mortgage delinquencies, but as the economy recovers and the employment picture improves, the delinquency rate will drop gradually.

Borrowers are also not over-leveraged even with many homeowners taking advantage of the cash out refinancing option and home prices growing at a more moderate pace. Nothaft predicts home price appreciation slowing down to 5% for the remainder of the year and 4.5% in 2004, which is still a relatively healthy pace. He explained that borrowers usually exercise the refinancing option responsibly, not moving above the 80% LTV mark. Also, homeowners usually use the money they get from their home equity for home improvement purposes, which increases the value of their homes.

Deteriorating credit fundamentals, according to Fitch

In the most recent edition of its RMBS newsletter Mortgage Principles and Interest, Fitch Ratings looked at the deteriorating credit quality in the mortgage sector, specifically focusing on subprime as mortgage underwriters have had to lower their standards to attract more borrowers in this sector.

In an article called The Economics of RMBS Collateral, Fitch noted the poor household credit conditions, including the record high rate of personal bankruptcies (1.6 million households filing over the past year through the second quarter of 2003) as well as the high number of auto loan repossession and manufactured housing delinquencies.

This worsening credit is reflected in the performance of different vintages of RMBS collateral. Fitch said that the 2000 and 2001 vintages have performed considerably worse compared to prior vintages. This trend applies to the prime, Alt-A and subprime sectors in most delinquency statuses and foreclosure rate statistics. The rating agency said that the 2002 vintage has had some improvement in performance through seasoning. However, since the vintage is less than two years old, there isn’t sufficient history to be more than suggestive.

Fitch said that borrowers leveraging up by utilizing mortgage debt adds to mortgage credit problems. Analysts stated that mortgagors have been aggressive in pulling cash from their homes. Almost $800 billion (annualized rate) has been taken out so far this year. This compares with roughly $700 billion in 2002 and $500 billion in 2001.

"While this extra cash has been instrumental in supporting consumer spending and thus the broader economy, it also has resulted in significant leveraging," Fitch analysts wrote. The aggregate mortgage LTV — measured by the value of all mortgage debt outstanding divided by the value of all housing (this comprises even homeowners without mortgage debt) — is now almost 42%, which increased from just over 38% in late 2001. Aside from this, the mortgage debt service burden — this measuring the proportion of after-tax income reserved for mortgage debt — has been increasing rapidly and is at a record high when mortgage rates are at a record low.

Fitch also analyzed how the different sectors — prime, Alt-A and subprime — utilize mortgage debt differently. Analysts said that Alt-A mortgagors are most reflective of the overall market. As of the beginning of this year, 60% of all refinances were cash-outs from this sector. As interest rates dropped, Alt-A borrowers were more likely to take out cash-out refinance loans. In contrast, prime borrowers had less of a tendency to do a cash-out refinance when interest rates fall.

Subprime borrowers tended to do cash-out refinancings as interest rates increased. This type of refinancing accounted for roughly 80% of all subprime refinancings in 2000, when the benchmark one-year ARM rate was round 7%. However, this number stayed at merely 52% when the benchmark rate fell to less than 4% in 2003. Fitch says that this trend was due to subprime borrowers consolidating nonmortgage debt as their other debt became much more expensive in a rising rate environment. Refinancing through a cash-out mortgage became a more attractive option and offered the lowest cost of funds.

Also, current LTVs in the subprime part of the market have stabilized at about 80%, which rose by roughly 10% from levels in the mid-1990s. In contrast, the LTVs of prime borrowers dropped to 60% from mid-70% in the same period.

Fitch said that overall mortgage credit quality should erode further through 2005 despite forecasts of a better economy. If the job market and the economy improve in the coming months, the Federal Reserve is probably going to tighten monetary policy and cause interest rates to rise sometime late next year, hitting the housing market hard. The significant drop in interest rates in recent years has been capitalized by house prices.

Analysts said that any small rise in interest rates might negate the effect and cause house prices to weaken significantly, particularly in markets where housing price growth has been strong and mortgage credit quality has remained good, such as California and Florida. When interest rates increase, the rating agency thinks housing prices will be weakest in these markets.

"Weak house prices, combined with the aggressive mortgage lending of recent years, will lead to worsening credit performance in these markets, reflected in a rise in delinquencies and foreclosure rates," wrote analysts.

Also, the fact that rates have backed up is a sign that the economy is improving. But this does not mean that credit quality will improve, specifically in the subprime sector. This is because underwriters usually change their guidelines to attract more borrowers, as these originators have ramped up their capacity to deal with the considerably high volume during the refinancing wave. They also generally do not lay off workers right away as volume drops. Originators thus become more aggressive in offering mortgages with higher loan-to-value ratios to borrowers with higher debt-to-income ratios and lower FICOs. Analysts said that these loans have been given out to people who are leveraged out already.

Sarbashi Ghosh, senior director at Fitch, said that in the last couple of years, borrowers were able to refinance out of their debt when it got to a point where loan payments were already proving difficult to maintain. However, previously, they had the benefit of lower rates so that gave them the ability to refinance and reduce their payments. But as rates start backing up, these borrowers won’t have this escape hatch. This is why mortgage quality post-refi wave usually suffers.

"After coming out of a great refinancing boom, the credit quality of the following year’s vintage usually suffers," said Ghosh. — KS

[Headlines]

Orix Financial Services---Gary Gussoff “Chief of Staff.”

by Christopher “Kit” Menkin

Looks like the” Teflon Don,” Gary Gussoff, formerly from CIT, is now saluted

as “chief of staff.” He’s not out, and the questions on the count, how many strikes, balls,

foul hits, is not known at this time. For the record, the “Teflon Don” remains as a “consultant” to help Gary Corr out in the transition. Corr, originally from Charter, met with all department heads to give them the news personally. According to our sources, he did a very good job at Charter, which was purchased by Orix. Where the company

is now headed, or what is going on, is not known---but there is no secret their sole stock holder has been painted into a $49 billion political corner. Indeed they have too much money invested to pull out...and it would also affect their other US relationships.

A memo was sent out last Thursday, Leasing News is told, and anyone who

sends us a copy may wind up in trouble. This is what received from one “insider”:

“ORIX is digging hard to find out who leaked the story to you.

if they can prove a connection (or even have a good suspicion.) they will terminate them.”

The Memo supposedly says:

“Jim Thompson is Chairman and CEO

Gary Corr is COO

Brad DeLong is CIO

Gary Gussoff is Chief of Staff”

It’s now “official” about Jay Holmes.

http://two.leasingnews.org/loose_files/Farewell.jpg

Jay Holmes was appointed president and chief executive officer on June 19,2000. He succeeded John Moss, who served in these positions on an interim basis after. Philip Cooper retired from ORIX CREDIT ALLIANCE in March 2000.

The press release at the time stated, "In his new role, Mr. Holmes will oversee all ORIX CREDIT ALLIANCE interests. Mr. Holmes joined ORIX CREDIT ALLIANCE after nearly two years as President & CEO of Transamerica Equipment Financial Services, a Chicago based provider of equipment financing and leasing for middle-market companies in the United States and selected foreign countries. He previously held senior positions in Heller Financial, Inc., Chrysler Capital Corporation, Citicorp Industrial Credit and Westinghouse Credit Corporation. He has 28 years of commercial finance

experience.

Jay Holmes told several at the Equipment Leasing Association San Diego Conference, that he was asked to leave on October 8^th, with two days to clear out his office; but since, he had the travel, hotel, and registration for the ELA in San Diego, he went. He was not a happy camper. By the way, a similar occurrence happened when WiredCapital took over Capital Stream. Several of the WiredCapital people went, some did not, as the registration, travel, and hotel reservations were made.

Holmes reportedly did not like the Credit Alliance files, especially the avant

guarde transactions such as the ten year Greek diner leases in New Jersey.

Most of the diners were owned by Greeks, at this time, and they were

five year payouts written as ten year leases. Holmes reportedly put one man

on this to find out who was getting all the money, and when the

person spent over a year looking for problems and when he came up empty,

was let go.

A highly reliable source told Leasing News while he was never involved on a direct basis with that portfolio, his remembrance was that the deals were booked with ten year payouts, but the dealer was only for five years worth of payments. The excess was

maintained in a reserve and was used for delinquencies and defaults.

What probably took place is that the accounting records were not in

order and it was difficult to reconcile what money when where and when.

That was a shortcoming in the system that was used, particularly with the

reserve accounts.

An inside source, who does not want to divulge the information as it

will be “traced” back, originally told Leasing News, “You should do some digging into why Jay was cut loose this way...he didn't get the usual treatment...”

Known as the “Teflon Don,” Gary K. Gusoff was group president, serving on the OFS board of directors

The CIO and CAO were let go at the first of the year at about the same time they laid off 10% of their staff. The word is they were given a nice going away party and enough money to keep their mouths shut. It was also reported Holmes also lost half of his responsibilities to Gary Gusoff who was promoted to COO after failing to turn around the Equipment group. Word from insiders is that Gusoff is like a “Teflon don.” Everything he touches seems to fail but for some reason he never gets blamed. He just gets promoted. Now he is “Chief of Staff.”

http://www.leasingnews.org/Conscious-Top%20Stories/Orix.htm

-------------

More Orix Reaction:

Norden Capital was a very small producer for Orix, for a relatively short

period of time, but I was very sorry to see them go.

Steve Geller and all of his staff always treated me in a very professional

and fair manner, and bent over backwards to get deals completed.

Sometimes the documentation process might have gotten a bit excessive, but

you all know the "Golden Rule." These days, the brokerage community

needs more Orix's.

Having lived in and traveled in Asia extensively I would also like to say a

word about the parent company, in Japan. Orix has always been

considered one of the few, perhaps the only, really innovative financial

services firm in Japan, perhaps until recently when the former Long Term

Credit Bank was taken over by the Bank of Japan, bought by US interests and

re-named Shinsei Bank.

As a non-bank lender Orix was not under direct regulation by the Bank of Japan and the Japanese Finance Ministry. Apparently the BOJ and the Finance Ministry were always trying to pressure the large Japanese Banks, which they did regulate, to "reign in" Orix, which they did not regulate.

There is a saying in Japan that the nail that sticks out of the board must

be pounded down. To the Japanese Government., Orix was probably looked at as

one of those nails. I am sure that this attitude, plus the general problems being experienced by many of the biggest Japanese banks, were/are factors effecting Orix.

Bob Homans/Norden Capital

rhomans@nordencapital.com

---

I first want to say that I do enjoy your newsletter which I

read almost daily. What I am contacting you about is to respond briefly to some

comments made recently by parties putting blame on the current situation at

Orix Financial Services with the previous management of Credit Alliance.

I don’t think it was far at all to even mention the Palitz brothers in the same

breath as OFS as they are both like night and day. The Palitz brothers were true

pioneers of this business and knew how to put together a secure deal and to make

money. From a lot of things I have heard about the company(OFS) since I left,

I am certain they aren’t able to do the same. I am a former employee of Credit

Alliance/Orix for almost 17 years so I think I do know what is going on. If

Orix Financial Services was doing such a great job in all aspects of their

business, then how can this situation happen?

I was sitting in the president's office of a large east coast construction dealer recently when they received a telephone call from one of OFS's collectors. They were calling to inform the dealer that OFS had picked up a customers machine due to non-payment and were now asking for the dealer to pay his limited liability amount. They then

proceeded to tell the dealer that at the time this happened, the customer was 336

days past due on the account!

Well, you can just imagine what the reaction was with the dealer, not good at all.

My point is if they cant collect money timely on their portfolio, then there are that and other problems ahead. I do know that this wouldn’t have happened in the old days. The Palitzs' certainly knew how to collect their portfolio.

My last comment also relates to OFS as well. Good luck in calling their office and getting someone to help you. Make sure that you get their name as there is a good chance you may not ever find them again without it. Its a black hole.

Name withheld.

---

Any hint that the Palitz Brothers had any part in the slide of ORIX is based

on shear ignorance of the actual history. After First Interstate Bancorp

ended the management agreement with them they waited out the non compete

agreement and then started the new company in Texas with the former Credit

Alliance managers who understood what business they were in. The Palitz

brothers both said it would take less than 10 years for the new management

to run the company into the ground when they departed First Interstate

Credit Alliance. With the boom of the 90's it took 10 extra years but the

day of reckoning for ORIX has arrived.

The success of the new Palitz venture headquartered in Texas is proof

positive of the enlightened toughness that produced 30-40 years of

controlled growth and profitability in this business niche. It is not the

good times that determine greatness in this business, it is the lean times.

The Palitz's always expanded their business when times were tough as they

had conservatively positioned their businesses for long term success. While

not flashy, that is true brilliance and integrity amid the rancor of mere

mouthy mortals long departed.

(name with held)

[Headlines]

U.S. Postal Alert re: Leasing Fraud in New York—Up-Date

The sentencing of Victor Einhorn's s has been postponed to 12/1/03 at 3:30 p.m. The sentencing will be held at Federal District Court for the Southern District of New York

before the Honorable Judge Barbara Jones. Victim claims are being reviewed

by the defense attorneys. He is still incarcerated at MCC in lower Manhattan awaiting his sentencing.

BUSINESS FRAUD INVESTIGATION - U.S. District Ct. Southern District of NY

U.S. v. Victor Einhorn Et. Al. Docket 01 Cr. 939 (BSJ)

Professional Leasing Community:

In the course of an official investigation, the U.S. Postal Inspection

Service has determined that many companies were defrauded in connection with

one or more equipment leases or credit accounts. Please see the attached

documents and check your default lists vs. the following lists of companies,

addresses, and individuals for further losses.

You may send a restitution request to U.S. Probation Officer Claude J.

Baptiste (212) 805-5187 (secondary: Emily Weinblatt (212) 805-5193) for your

total loss amount (for only the value of the equipment; interest, attorney's

fees and records/copying costs are not included in restitution calculations

under the Federal Sentencing Guidelines) and any supporting documentation

for that loss by 7/7/03 to:

U.S. Probation Department

Attn: Mr. Claude J. Baptiste, U.S. Probation Officer

500 Pearl St., 7th FL North

New York, NY 10007-1316

Kindly cc me. Copies of UCCs, invoices and equipment pictures, lists and

serial numbers would also be very helpful in case your actual equipment is

recovered co-mingled with other similar equipment. Also a list of equipment

subject to the Court's jurisdiction in this case is available. If your

equipment is included on this list please list those items within your

claim. Thank you for your assistance in this matter.

Very Truly Yours,

J.R. Goodman, Inspector

U.S. Postal Inspection Service

New York Division

(212)330-3342

http://two.leasingnews.org/temporary/Einhorn%20AKAs%20Bus%20Addrs%20no%20ltrhd.htm

http://two.leasingnews.org/temporary/SUMMARY%202.htm

http://two.leasingnews.org/temporary/SUMMARY%201.htm

[Headlines]

-------------------------------------------------------------------------------------------------------

Carlile to be at UAEL San Jose Regional Meeting ( Silicon Valley )

Ben Carlile, President & Chief Credit Officer, Allegiant-Partners

will be sitting in for Doug Houlihan. This session is on “story credits,”

meaning explaining the cash flow and credit situation and not relying

on a Fair-Issac or Beacon credit score to approve a lease. In the 90’s,

“application only” became the trend. Those that made decisions

from financial statements, analyzing the company and relationship

to its industry, were considered “too slow.”

Here are three in the Silicon Valley area who specialize in these

types of transactions, and appear to be doing a lot of business.

Joining him will be Archie Julian of Dumac Leasing ( Exchange Bank)

where Ken Taylor has brought his expertise from “Taylor Leasing”

and changed the way business is done. They are not loose with

credit or with their criteria, but know how to analyze financial

statements and understand the risk from the old way of looking

at a profit and loss along with a balance sheet.

Third on the panel is Peter Eaton, who specializes in $250,000

and above transactions; all types of situations and credit with

a thorough old style bank “investigation,” often including meeting

with the applicant and their financial team.

There is a second panel, with Peter Eaton also on it, as Pentech

Financial specializes in Venture leases over $25,000.

Joining him is John Pritchard of Vencore Solutions, who

does all sizes of Venture leasing, even smaller dollar

size, along with Russ Wilder of ATEL, who has a lot

of money to put out. Russ could join the “Story Credit”

group as he has much experience in this, but ATEL

has changed direction. He will be there to talk about it.

UAEL CEO Joe Woodley plans to be there, too.

This Wednesday, October 22---

3:30pm to 7:30pm at Napredak Hall, 770 Montague Expressway, San Jose

( 1 1/2 blocks off Highway 880.)

Two Separate Sessions

Venture Leasing

4:30pm to 5:30pm

Peter Eaton, Pentech Financial

John Pritchard, Vencore Solutions

Russ Wilder, Atel Leasing

(break)

6:00pm to 7:00pm

"Decision Not Based on Credit Scoring"

(also known as "Story Credits" or "Cash Flow Analysis."

Peter Eaton ( does story credits $250,000 minimum)

Doug Houlihan, Allegiant-Partners ($30,000 +)

Archie Julian, Dumac Leasing (Exchange Bank)

Open to All

Host: Kit Menkin, American Leasing

$15.00 800-727-3844

kitm@americanleasing.com

to register:

http://www.uael.org/indexlow.asp

At this time, as you see on chiropractor office doors, “Walk Ins Welcome.”

We may not be able to fix your back, but we can tell you how to make

more money.

[Headlines]

Classified Ads---Finance/Legal/Operations

Finance: Atlanta, GA

Twenty five plus years experience in middle market lease/ asset based/cash flow transactions. Heavy banking and credit background, with particular expertise in structure and negotiation. Email:brown235@bellsouth.net

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20+ years all facets of lease/finance. Collection and credit management. Equipment & rolling stock structuring. $150k credit authority, $100 million portfolio management.

email: texmartin@juno.com

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CFO w/20+ years leasing/financing. Respected by lenders/rating agencies full & fair financial reporting. Outstanding record restructuring debt. Adept at investor relations and mentoring people. Email:joemcdev@aol.com

Finance: Chicago, IL

Experienced in big ticket origination, syndication, valuation and workout. Twenty five years, MBA, CPA, JD, LLM (Tax), structuring specialist. Inbound and outbound transactions.

email:pal108381@comcast.net

Legal: Los Angeles, CA

Experienced in-house corporate and financial services attorney seeks position as managing or transactional counsel. Willing to re-locate. email:sandidq@msn.com

Operations: Wayne, NJ

20+ heavily experienced collection/ recovery VP looking to improve someone's bottom line. Proven, verifiable track record. Knowledge of all types of portfolio. Will relocate Email:cmate@nac.net

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Post Your “free” Job Wanted ad at: http://64.125.68.90/LeasingNews/PostingForm.asp

We find jobs...many testimonials. Not everyone, but our goal is

to help you. Go here for more places to let people know you are looking.

Don’t keep it a secret. Tell everyone from your minister to your babysitter.

You never know where you will get a lead—network, tell everyone:

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[Headlines]

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

Class Action Suit Against Leasecomm/Microfinancial

NEW YORK--(--Lasky & Rifkind, Ltd., a law firm with offices in New York and Chicago, announces that a lawsuit has been filed in the United States District Court for the District of Massachusetts, on behalf of persons who purchased or otherwise acquired publicly traded securities of MicroFinancial Inc. ("MicroFinancial" or the "Company") (NYSE:MFI) between February 5, 1999 and October 30, 2002, inclusive, (the "Class Period"). The lawsuit was filed against MicroFinancial and Peter R. Bleyleben, Richard F. Latour and James R. Jackson Jr.

If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at investorrelations@laskyrifkind.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than December 15, 2003 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.

The complaint alleges that MicroFinancial materially overstated its revenues and earnings by improperly recognizing tens of millions of dollars of financing income, fees and other revenues arising from delinquent and defaulted commercial leasing, rental and finance contracts that defendants knew, or recklessly disregarded, were uncollectable because the contracts were unenforceable in their terms.

On October 11, 2002, defendants stunned the market by announcing that MicroFinancial was ceasing to make new lease originations as a part of a new business strategy to leverage the Company's technology and loan servicing platform. Market reaction to the Company's announcement was swift and severe, losing 37% of its value to close at $2.14 per share on October 11, 2002.

If you bought MicroFinancial securities between February 5, 1999 and October 30, 2002, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (800) 495-1868 to speak with an advisor.

FORMAL ANNOUNCEMENT:

CONTACT:The Law Firm of Lasky & Rifkind, Ltd. Leigh Lasky, Esq., 800-495-1868

Shareholder Class Action Filed Against MicroFinancial, Inc. By the Law Firm of Schiffrin & Barroway, LLP

BALA CYNWYD, Pa., -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit was filed on September 26, 2003 in the United States District Court for the District of Massachusetts on behalf of all purchasers of the common stock of MicroFinancial, Inc. ("MicroFinancial" or the "Company") (NYSE:MFI) from February 5, 1999 through October 30, 2002, inclusive (the "Class Period"). Notice was published in "Investor Business Daily" on October 15, 2003, and a corrective notice was subsequently published in "Investor Business Daily" on October 16, 2003. As such, if you are a member of the class described above, you may, not later than December 15, 2003, move the Court to serve as lead plaintiff of the class, if you so choose.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.

The complaint charges MicroFinancial, Peter R. Bleyleben, Richard F. Latour, and James R. Jackson Jr. with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market between February 5, 1999 and October 30, 2002, thereby artificially inflating the price of MicroFinancial's common stock. More specifically, the Complaint alleges that the defendants represented that the Company's business and operations were being conducted in a profitable and lawful manner. In offering documents issued in connection with its 1999 initial public offering and in the Company's periodic filings with the SEC, the Company described itself as a "specialized" commercial finance enterprise that leases and rents "low-priced" equipment and provides other financial services. Throughout the Class Period, the Company issued highly positive earnings reports, as well as forecasts for the Company's continued growth and profitability.

Unknown to the investing public, however, the Company materially overstated its revenues and earnings by improperly recognizing tens of millions of dollars of financing income, fees and other revenues arising from delinquent and defaulted commercial leasing, rental and finance contracts that defendants knew, or recklessly disregarded, were uncollectible because the contracts were unenforceable by their terms. Additionally, defendants materially understated MicroFinancial's credit losses on tens of thousands of delinquent customer accounts and certain third-party "dealer receivables" which defendants never intended to collect but, in many instances, offset against the Company's funding of new contracts. As a result, defendants materially misrepresented the Company's current and future revenues and profits and issued financial statements that violated generally accepted accounting principles ("GAAP") and SEC reporting requirements throughout the Class Period.

On August 14, 2002, MicroFinancial disclosed in its Form 10-Q for the quarter ended June 30, 2002, that the Company was the target of a combined federal and state inquiry into the Company's leasing and credit collection practices, among other things. Then just two months later on October 11, 2002, defendants stunned the market by announcing that MicroFinancial was ceasing to make any new lease originations as part of a "new business strategy to leverage the Company's technology and loan servicing platform."

Market reaction to the Company's "new business strategy" announcement was swift and severe. The Company's common stock lost 37% of its value to close at $2.14 per share on October 11, 2002. The Company's stock price has never recovered, and its common shares have continued to trade at or below that level to the current date, representing more than an 85% loss in value from MicroFinancial's IPO price of $15.00 per share.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com/currentcases.cfm.

If you are a member of the class described above, you may, not later than December 15, 2003, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action.

CONTACT: Schiffrin & Barroway, LLP

Marc A. Topaz, Esq.

Stuart L. Berman, Esq.

Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004

1-888-299-7706 (toll-free) or 1-610-667-7706

Or by e-mail at info@sbclasslaw.com

SOURCE Schiffrin & Barroway, LLP

CO: Schiffrin & Barroway, LLP; MicroFinancial, Inc.

[Headlines]

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

Sterling Bancorp Announces Record Results for Third Quarter of 2003

Net Income Increases 10.3% Year-Over-Year

NEW YORK, -- Sterling Bancorp (NYSE: STL - News), a financial holding company and the parent company of Sterling National Bank, today reported record results for the third quarter and nine months ended September 30, 2003.

Highlights of the quarter:

* Net income increased 10.3% compared to the third quarter of 2002

* Diluted earnings per share increased $0.03 from the third quarter of

2002 to $0.39

* Average total loans and average demand deposits each grew 20.0%

year-over-year

* Noninterest income grew to 28% of gross revenues

* Return on average tangible equity was 21.11%

* Five-for-four stock split effectively increased cash dividend by 25%

"Sterling again reported year-over-year, double-digit net income growth, in spite of industry-wide margin compression, interest rate volatility and an overall challenging economic environment," commented Louis J. Cappelli, Chairman and Chief Executive Officer. "In the third quarter of 2003, we focused on building shareholder value and enhancing the value of the Sterling franchise, demonstrated by strong increases in loans, demand deposits and noninterest income. Furthermore, we recorded an 8.5% increase in total deposits and customer repurchase agreements."

"We were excited to kick off the year-long celebration of Sterling National Bank's 75th anniversary in August with the ringing of The Opening Bell(TM) at the New York Stock Exchange," continued Chairman Cappelli. "Our longevity and continued success as a New York banking company with national reach reflects the expertise of Sterling's management team, the diversity of our products and services, and the strength of our balanced business model. Our employees' exemplary efforts and dedication to high-touch personal service continue to differentiate us from our competitors."'

Full Press Release at: http://biz.yahoo.com/prnews/031020/nym031_1.html

[Headlines]

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

(Lessor Addresses New Way of Sending Airline Passenger Luggage)

Transportation Security White Paper Generates $16bil: Universal Express -USXP- Proposal Enhances Security Favoring Taxpayers, Travelers, Airlines

NEW YORK----Transportation logistics company, Universal Express, Inc. (OTCBB:USXP), has prepared a Transportation White Paper for members of the House and Senate and Congressional staff, Department of Commerce, and Transportation Security Administration staff. The White Paper "More Security, Less Hassle for American Travelers: A Private Sector Solution for the Airline Industry" proposes enhancements to Homeland Security. It is expected to generate $16 billion annually transporting luggage for travelers and saving $1.4 billion in baggage screening and $4 billion in labor costs. Universal Express CEO Richard Altomare will personally disseminate his White Paper on Capitol Hill Tuesday October 21.

The White Paper plan resolves shortfalls in the Aviation and Transportation Security Act. It specifically addresses the costs of moving airline passengers' luggage and the inherent major security problems associated with transporting baggage.

"The airline industry transports nearly three times more bags than passengers. Clearly identifiable cost savings occur when a traveler arrives at the airport with luggage and another traveler sends his luggage ahead using a separate carrier. The White Paper that I am presenting tomorrow reveals detailed plans involving the supplemental and unique utilization of functioning organizations and operations. Implementation of our proposal will save money for taxpayers, Homeland Security, travelers and the travel industry," states Mr. Altomare.

Altomare will present his plan on Capitol Hill today.

Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp. (USXP Cash Express division), Universal Express Logistics, Inc. (The Virtual Bellhop, LLC and Luggage Express) and the WorldPost(TM) Private Postal Network, Inc. These subsidiaries and divisions provide the private postal industry and customers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods worldwide.

More information and website locations are available at www.usxp.com.

CONTACT:Equitilink Ron Garner, 877-788-1940

SOURCE: Universal Express, Inc.

[Headlines]

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

Fitch Rates $1.835B State of California 2003-2004 RANs 'F1+'

Fitch Ratings-New York-October 20, 2003: Fitch Ratings has assigned ratings to the $1.835 billion State of California, 2003-2004 revenue anticipation notes, consisting of $1.41 billion fixed rate notes and $425 million variable rate demand notes, as described below. The ratings are based on irrevocable, direct-pay letters of credit (LOCs) as follows:

--$375 million fixed rate notes, series A-1, rated 'F1+' based on the LOC severally provided by HSH Nordbank AG, New York Branch, and Bayerische Landesbank, New York Branch;

--$420 million fixed rate notes, series A-2, rated 'F1+' based on the LOC provided by Citibank, N.A.;

--$455 million fixed rate notes, series A-3, rated 'F1+' based on the LOC severally provided by Bank of America, N.A., UBS AG, New York Branch, and BNP Paribas, San Francisco Branch;

--$160 million fixed rate notes, series A-4, rated 'F1+' based on the LOC provided by The Bank of Nova Scotia, New York Agency; and

--$425 million variable rate demand notes, consisting of $125 million series B-1 (weekly rate), $100 million series B-2 (weekly rate), $100 million series B-3 (daily rate) and $100 million series B-4 (weekly rate), each rated 'F1+/F1+' based on the LOC provided by Depfa Bank plc, New York Agency (Depfa).

Pursuant to the LOCs, the banks are obligated to make payments of principal of and interest on the notes at maturity and, with respect to the Depfa LOC, purchase price for tendered notes. The ratings will expire on the earlier of: (a) June 23, 2004, the stated expiration date of the LOCs; and (b) any prior termination of the LOCs. The fixed rate LOCs provide full coverage of principal plus 239 days of interest at the actual rate of interest borne by the fixed rate notes. The Depfa LOC provides full coverage of principal plus an amount of interest equal to 34 days of interest at a maximum rate of 11% based on a 365-day year and purchase price for tendered variable rate notes. Lehman Brothers Inc. is the representative of the underwriters for the transaction. The notes are expected to be delivered Oct. 28, 2003.

Interest is payable on the fixed rate notes at maturity. While the variable rate notes bear interest in the daily or weekly rate modes, interest is payable on the first business day of each month, commencing Nov. 3, 2003. Holders of variable rate notes may tender their notes for purchase with prior notice. The variable rate notes are subject to mandatory tender: (i) on the fixed rate conversion date; and (ii) upon substitution of the variable rate LOC.

Note proceeds will be used to assist in cash flow management for the State of California's 2003-2004 Fiscal Year.

Contact: Mary Jane Ziga +1-212-908-0529, New York.

[Headlines]

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

( New Chrome "Blue Book" )

Chrome Introduces Pre-Owned Vehicle Configuration and Valuation Tool with Market-Reflective Values From NADAguides

PORTLAND, Ore.----Chrome Systems Corporation, provider of automotive data, configuration technology and commerce solutions, today announced the release of Chrome Pre-Owned(TM), a used vehicle configuration and valuation tool for the web. The tool combines Chrome's configuration technology with used values from NADAguides to give auto buyers and sellers the capability to easily research, price and compare used vehicles online, as well as determine used values.

Chrome Pre-Owned(TM) seamlessly integrates with Chrome Carbook(R), Chrome's new vehicle configurator and pricing tool. When the two products are integrated, online shoppers can access Chrome's new vehicle information and pricing and used values from NADAguides from within the same application. Chrome Pre-Owned is also available as a stand-alone product for businesses that do not require new vehicle configuration.

"We've been wanting a solution like this," said Deborah Lohrke, president of Procter & Gamble Texas Federal Credit Union. "Accessing new car data from Chrome and used values from NADAguides together in one application not only helps streamline our site, but gives our staff and our members a one-stop-shop for our vehicle pricing needs."

Chrome and NADAguides recently announced a significant data sharing partnership where Chrome became the new vehicle pricing and configuration services provider for NADAguides.com and NADAguides became the pre-owned vehicle valuation provider for Chrome's research and pricing tools.

"Chrome Carbook(R) combined with the newly launched Chrome Pre-Owned(TM) product fills a significant void in the marketplace," said Len Sims, vice president, NADAguides.com. "No other competitive valuation company offers more market-reflective data in a more streamlined solution than the products provided by Chrome and NADAguides.com. This is a win for businesses and consumers alike."

According to a study in 2002 by Friedman-Swift Associates, nearly 50% of car shoppers research both new and used vehicles before making a purchasing decision.

"Chrome's core strength is new vehicle data and configuration, while NADAguides has long been the recognized authority in used valuations," said David Mingle, Chrome's president. "We're pleased to offer our clients a solution that combines our dual strengths."

About Chrome

With more than 13,500 clients, including half of all automotive dealers in the U.S. and Canada, Chrome provides vehicle content, vehicle ordering and inventory management tools, configuration technology and professional services to deliver complete enterprise solutions to all segments of the retail automotive industry. These segments include manufacturers, fleet companies, dealers, Internet sites, supply chain providers, and financial institutions.

Chrome pioneered the technology behind electronic vehicle configuration and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers. Chrome provides the North American ordering system for General Motors and its 8,300 dealers. Chrome sets the standard in ordering systems for fleet management, serving 9 of the 10 largest fleet leasing companies.

CONTACT:Chrome Systems Ali Livolsi, 503/963-6345 800/936-8906 alivolsi@chrome.com

[Headlines]

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

News Briefs---

Citigroup Earnings Increase 20%

http://www.washingtonpost.com/wp-dyn/articles/A55916-2003Oct20.html

Treasury Chief Sees a Jobs Boom, but Most Don't

http://www.nytimes.com/2003/10/21/business/21SNOW.html

Leading indicators slip in September after four monthly rises

http://www.signonsandiego.com/news/business/20031020-1418-economy.html

Federal deficit hits record $374.2 billion

http://www.usatoday.com/news/washington/2003-10-20-federal-deficit_x.htm

Zagat Listing Jolted by a Small Brooklyn Spot

http://www.nytimes.com/2003/10/20/nyregion/20ZAGA.html

Judge refuses Caterpillar request to block Disney release
http://www.signonsandiego.com/news/business/20031020-1402
-caterpillar-disneysuit.html

Single women outnumber bachelors in most of California
http://www.bayarea.com/mld/mercurynews/news/local/states
/california/northern_california/7062077.htm

UPS, DHL in bitter battle

http://www.ajc.com/business/content/business/1003/19ups.html

[Headlines]

-------------------------------------------------------------------------------------------------------

Sports Briefs---

Baseball Today

http://www.nytimes.com/aponline/sports/AP-BBO-Baseball-Today.html

Raiders' comeback comes up a yard short

AFTER GANNON IS HURT, TUIASOSOPO NEARLY SAVES DAY

http://www.bayarea.com/mld/mercurynews/sports/

http://www.bayarea.com/mld/mercurynews/sports/7063552.htm

Rice to Retire? When?

http://www.bayarea.com/mld/mercurynews/sports/7063478.htm

The longest yard

Raiders' rally ends at K.C. 1 after pass by Tuiasosopo

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2003/10/21/RAIDERS.TMP

Sherman: Favre's fractured thumb not serious

http://www.theredzone.org/news/showarticle.asp?ArticleID=466

Testaverde will start vs. Eagles but Pennington will play

http://www.theredzone.org/news/showarticle.asp?ArticleID=467

[Headlines]

This Day in American History

1520- Magellan entered the strait which bears his name.

1692- William Penn was deposed as Governor of Pennsylvania. His overtures of gratefulness to James II for permitting religious freedom for dissenters of the Church of England led William and Mary to charge Penn with being a papist:

A Roman catholic; one who adheres to the Church of Rome and the authority of the pope; -- an offensive designation applied to Roman Catholics by their opponents. He was not.

http://xroads.virginia.edu/~CAP/PENN/pnintro.html.

1751- The first Baptist association in the American South was organized at Charleston, SC. It was formed under the initiative of Oliver Hart, who had left the Philadelphia area to become pastor of the Charleston Baptist Church in 1749.

1805 -- Battle of Trafalgar, where Nelson defeats Spain and France, establishes British naval supremacy for the next centuries, including trying to re-take its

colonies now united in North America.

http://www.nelsonsnavy.co.uk/battle-of-trafalgar.html
1808- Birth of American Baptist clergyman Samuel Francis Smith. Credited with writing over 100 hymns, Smith is best remembered as the author of "America" ("My Country, 'Tis of Thee"), written at age 23, while a student at Andover Seminary.

1845-Birthday of Will Carleton, American poet, born Michigan. Michigan schools will honor his anniversary (by 1919 statue) bye reading his poems on this day. Best known of his poems: “Over the Hill to the Poorhouse.” Carleton died 1912.

1861-Union troops suffer a devastating defeat in the second major engagement of the war. The Battle of Ball's Bluff produced the war's first martyr and led to the creation of a Congressional committee to monitor the conduct of the war. General Charles Stone to watch the nearby town of Leesburg, Virginia, while McCall's men were moving. Stone sent a detachment across the river on the night of October 20, and the inexperienced soldiers reported seeing a Rebel camp that turned out to be shadows. Stone decided to move more men over until a force of 1,600, under the command of Colonel Edward Baker, was poised for an attack the next morning. Baker was a close friend of President Lincoln, and Lincoln had named his second son after him. Baker placed his men in a dangerous position. They were in a clearing with their backs to the edge of Ball's Bluff, a 100-foot high cliff above the Potomac. They faced a wooded ridge that was rapidly filling with Southerners. The Confederates launched an attack at 3 p.m., and Baker's command was in trouble. Baker was killed, and many of his men jumped from the bluff to their deaths or scrambled down a narrow trail only to find their boats swamped in the river. Less than half made it back to the other side of the Potomac. The Union suffered 49 killed, 158 wounded, and 714 missing and captured, while the Confederates suffered 33 killed, 115 wounded, and one missing. Lincoln was stunned by the loss of his friend Baker, who became a Northern martyr despite his ineptitude in conducting the battle. The political fallout was swift. Angry Republicans were highly suspicious of McClellan, a Democrat, and other generals. The Joint Committee on the Conduct of the War was formed in December. This group was stacked with Radical Republicans who favored tougher treatment of the South and slaveholders. The committee's first investigation was the disaster at Ball's Bluff, and General Stone became the scapegoat. He was arrested for treason soon after and was jailed for six months.

1864-Battle of Westport, MO (Kansas City) A major union victory as after the

loss of this battle, the rebels were in retreat in this area until the end of the Civil

War. It is called the “last great rebel raid” and a popular song to the tune of “The Yellow Rose of Texas” was often sun at Confederate camps.

http://www2.cr.nps.gov/abpp/battles/mo027.htm

http://bartonpara.com/civilwar/jw/rebraid.htm

1865-George William Gordon, Jamaican national hero, is unfairly arrested

and sentenced to death.

http://www.moec.gov.jm/heroes/george.htm

http://www.jnht.com/jamaica/gordon.html
http://www.famousamericans.net/georgewilliamgordon

1868- Severe earthquake at 7:53 AM, centered in Hayward, Calif. Magnitude

was 7.

http://www.seismo.berkeley.edu/seismo/faq/1868_0.html

1879-Thomas A. Edison demonstrated the first incandescent lamp that could be used economically for domestic purposes. the prototype, developed at his Menlo Park, NJ, laboratory, could burn for 13 ½ hours.

1891-Birthdy of Ted Shawn, born Kansas City, MO. Partially paralyzed by diphtheria, Shawn was introduced to ballet for the therapeutic purposes and became a professional dancer by the age of 21. The Denishawn School of Dancing was established with the help of his wife, Ruth St. Denis, and became the epicenter of much innovation in 20t-century dance and choreography. Among his many achievements is Jacob’s Pillow Dance Festival, which he inaugurated and directed for the remainder of his years, and such modern ballets as “Invocation to the Thunderbird,” “Osage-Pawnee,” “Labor Symphony” and “ John Brown. “ He died January 8,1972. 1892- Birth of James L Kelso, American Presbyterian archaeologist. He participated in digs at the biblical sites of Debir, Bethel and Jericho, and authored the text "Ceramic Vocabulary of the O.T." http://members.tripod.com/~hardbop/byas.html

1912-Tenor Saxophone player Don Byas born, Muskogee, OK. Died August 24, 1972.

http://www.oklahomajazz.com/byas.htm

1912-Birthday of Comedian Minnie Pearl, destined to become a longtime fixture of Nashville's Grand Ole Opry Pearl was famous for her comic monologues about hillbilly life and was featured on the long-running syndicated show Hee Haw from 1970 to 1990. Pearl died in 1996.

http://www.cnn.com/SHOWBIZ/misc/9603/pearl_obit/index.html

http://www.150.si.edu/150trav/remember/r1117.htm

1916-Birthday of Floyd Clifford “Bill” Bevens, baseball player born at Hubbard, OR. Bevens nearly pitched the first no-hitter in World Series history, pitching for the New York Yankees against the Brooklyn Dodgers. In Game 4 of the1947 Series, he carried his no-hitter into the ninth inning. With two out and two on, Cookie Lavagetto doubled home both runners, spoiling the no-hitter and winning the game, 3-2.Died at Salem, Or. Oct. 26,1991

1917—Composer/trumpet player John Birks “Dizzy” Gillespie Birthday:

Also a presidential candidate ( I voted for him as “start of stage, screen,

and outer space” Mad Magazine)---one of the founding fathers of modern jazz, born at Cheraw, SC. In the early 1940s, Gillespie and alto saxophonist Charlie (Yardbird) Parker created be-bop. In the late 40s, he created a second music revolution by incorporating Afro-Cuban music into jazz. In 1953 someone fell on Gillespie’s trumpet and bent it. Finding he could hear the sound better, he kept it that way; his puffed cheeks and bent trumpet became his trademarks. He won a Grammy in 1975 for “Oscar Peterson and Dizzy Gillespie” and again in 1991 for “Live at the Royal Festival Hall.” He died January 6, 1993, Englewood, NJ.

1928-Birthday of Edward Charles “Whitey” Ford, Baseball Hall of Fame pitcher, born New York, NY.

http://www.duke.edu/~jrw5/

http://www.cosmopolis.ch/english/cosmo2/dizzy.htm
http://www.downbeat.com/artists/window.asp?aid=161&aname=Dizzy+Gillespie

http://www.geocities.com/BourbonStreet/8446/

http://www.harlem.org/people/gillespie.html

1937-Birthday of Norman Wright, lead singer with the Del Vikings,

born Philadelphia, PA

http://www.destinationdoowop.com/delvikings.htm

1938-Jan Savitt records “Quaker City Jazz.

1940-Birthday of Jimmy Beaumont, lead singer with the Skyliners, born

Pittsburgh, PA.”

http://www.vocalhalloffame.com/skyliners.htm

http://www.theskyliners.com/

http://www.amazon.com/exec/obidos/ASIN/B00000EP1O/ref=ase_avsearch-musicasin-20/103-0570268-6906239#product-details

1941-Benny Goodman, the “King of Swing,” cuts “ Clarinet Ala King.”

1942-Birthday of guitarist Elvin Bishop, Glendale, CA.

1943-Birthday of Brian Piccolo, born Pittsfield, MA. He played running back at Wake Forest and with the Chicago Bears. His interracial friendship with Gale Sayers earned him a certain fame, but at age 26 he was stricken with embryonal cell carcinoma, a virulent form of cancer that took his life seven months later. Died at New York, NY. June 16, 1970. His life became the subject of a book, Brian Piccolo: A Short Season, and a made-for television movie, “Brian’s Song.”

1945—Top Hits
I’ll Buy That Dream - The Pied Pipers
Till the End of Time - Perry Como
On the Atchison, Topeka and Santa Fe - Johnny Mercer
You Two Timed Me One Time Too Often - Tex Ritter

1948-Birthday of William Ellis “Bill” Russell, former baseball manager and player, born Pittsburgh, KS.

1950-Earl Lloyd, first NBA Black Assistant Coach and the first Black chief scout, becomes the first Black person to play in an NBA game ( beating out Charles cooper and Nat Clifton by a day.)

1950-“The Stu Erwin Show.” This often-imitated sitcom was one of the first of its kind and immensely popular. Stu Erwin starred as himself, a bumbling high school principal; June Collyer ( his real-life wife) as his level-headed wife, June; Ann Todd and Merry Anders as their daughter, Joyce; Shelia James Kuehl as younger daughter, Jackie; Martin Milner as Joyce’s boyfriend and alter husband, Jimmy Clark; and Willie Best as Willie, the handyman. The show was also called, “ Life with the Erwin’s,” “the New Stu Erwin Show,” and “The Trouble with Father.”

1953—Top Hits
Vaya Con Dios - Les Paul & Mary Ford
You, You, You - The Ames Brothers
Crying in the Chapel - June Valli
I Forgot More Than You’ll Ever Know - The Davis Sisters

1954 - Ian Fleming's aristocratic spy, James Bond, made his film debut when first portrayed by actor Barry Nelson in an episode of the television series Climax, titled "Casino Royale" in 1954. Peter Sellers and David Niven play in the 1967

movie. http://www.all-reviews.com/videos-2/casino-royale.htm
1956-Quarterback and place-kicker George Blanda of the Chicago Bears missed his first extra-point attempt after a record-setting 156 in a row. His kick sailed off to the left, but it hardly mattered as the Bears defeated the Baltimore Colts, 58=27.

1957 - The Elvis Presley movie, "Jailhouse Rock", opened in U.S. theatres. The flick also starred Judy Tyler, Mickey Shaughnessy, Vaughn Taylor, Jennifer Holden, Dean Jones and Anne Neyland. Elvis Presley fans consider it to be

his favorite. It was not Elvis’s favorite, as he wanted to do “serious acting,”

rather than just appear in “costumes and sing,” he said often.

1958 - Orchestral strings were used for the first time in a rock and roll tune. Buddy Holly recorded "It Doesn’t Matter Anymore", written by Paul Anka. Sadly, it would be Holly’s last studio session. The song wasn’t released until after his death in February of 1959.

1959— The Solomon R. Guggenheim Museum of modern and contemporary art opened in New York City.

(lower half of: http://memory.loc.gov/ammem/today/oct21.html )

1960 - The fourth -- and last -- debate preceding the presidential election between U.S. Senator John F. Kennedy and U.S. Vice President Richard M. Nixon was televised from New York City. Kennedy would go on to win with an electoral vote of 303; Nixon 219, and Sen. Harry F. Byrd, 15. Kennedy won 94.7% and Nixon 49.6% of the popular vote, making the election one of the closest in U.S. history at the time. In congressional elections, the Democrats took a 65-35 majority in the Senate. In the House, they lost 20 seats but kept a majority of 263-174.

http://memory.loc.gov/ammem/today/oct21.html

1960-The Accutron, the world's first electronic watch, went on sale. The watch, produced by Bulova Watch Company in Jackson Heights, New York, used transistorized electronic circuits and a miniature power cell, instead of a spring and gears, to move the watch's hands.

1961—Top Hits
Hit the Road Jack - Ray Charles
Runaround Sue - Dion
Bristol Stomp - The Dovells
Walk on By - Leroy Van Dyke.

1961 -- Bob Dylan records his first album, "Bob Dylan," for Columbia Records. The albums presents the 20-year old singer accompanied by his guitar & harmonica. The recording is done in a day & productions costs run $400. Filling out his income-tax form, Dylan gives his name as Blind Boy Grunt.

http://www.rockmine.music.co.uk/BobBooks.html

1963-Michigan Bell Telephone, Detroit, MI, at Jackson, MI, placed into service the4 first “trimline telephone.” The dial was mounted in the receiver midway between the mouth and the ear pierces, eliminating the need to reach for the base when dialing. It introduced the telephone to its entire territory on learning

its popularly on August 2, 1965, at a monthly charge of $1.00.

1964- The Rolling Stones appear on Ed Sullivan's TV variety show. It was the first time American audiences had seen the Stones. Founding Stones Mick Jagger and Keith Richards met during grade school and ran into each other when Jagger was studying at the London School of Economics and Richards was at art school. They formed the Rolling Stones in 1962 and were soon playing a steady series of nightclubs and bars in London. They released their first single in Britain in 1963. Before long, the Stones became known as the anti-Beatles: They were long-haired, grungy, and wild, while the Beatles seemed wholesome and safe. A string of drug-related arrests plagued various band members--Brian Jones' drug problems probably led to his death in 1969, and Keith Richards struggled with heroin addiction before getting clean in 1977. They are on another tour. I can personally testify they are still quite the performers. “I Can’t Get No Satisfaction” has been voted by Billboard magazine as still the most popular rock and roll song.

1966 -- Grateful Dead, Lightnin' Hopkins & Loading Zone at the Fillmore, with dancing & strobe light show, San Francisco

1969—Top Hits
I Can’t Get Next to You - The Temptations
Hot Fun in the Summertime - Sly & The Family Stone
Suspicious Minds - Elvis Presley
Since I Met You, Baby - Sonny James

1967-Over 250 protestors were arrested when thousands of the 50,000 participants in a rally against the Vietnam War at Washington, DC, crossed the Potomac River and stormed the Pentagon. No shots were fired, but many demonstrators were struck with nightsticks and rifle butts.

1972-John H. Conyers becomes the first African-American to enter the US Naval Academy.

1972 - Chuck Berry’s "My Ding-a-Ling" hit #1 in the U.S. It was number one for two weeks.

1973-Fred Dryer, defensive end for the Los Angeles Rams, became the first player in NFL history to score two safeties in the same game in the Rams’ 24-7 victory over the green Bay Packers.

1975-Catcher Calrton Fisk of the Boston Red Sox hit a home run in the 12^th inning to defeat the Cincinnati Reds, 7-6, in the sixth game of the world Series. Fisk’s dramatic homer forced a seventh game in the what is generally considered one of the best World Series ever.

1976 - The Cincinnati Reds beat the New York Yankees in the World Series four games to zip. In game four, played this day, with Johnny Bench slugging two home runs for five RBIs, the Reds rang up a 7-2 victory. It was the Red’s second straight World Series championship.

1977---Top Hits
You Light Up My Life - Debby Boone
Nobody Does It Better - Carly Simon
That’s Rock ’n’ Roll - Shaun Cassidy
Heaven’s Just a Sin Away - The Kendalls

1980 – After failing short in 1915 and 1951, The Phillies won their first World Series title. Mike Schmidt knocked in two runs and Tug McGraw stopped Kansas City’s hitters, 4-1, in Philadelphia. The Phils won the Series, 4 games to 2.

1985 - William ‘The Refrigerator’ Perry of the Chicago Bears led his team to a 23-7 win over the Green Bay Packers. Perry, weighing in at 325 pounds (more than some Frigidaires), became a folk hero as he cut a path for Walter Payton’s two TDs. He then plodded over the goal line himself for another score.

1985—Top Hits
Take on Me - a-ha
Saving All My Love for You - Whitney Houston
Part-Time Lover - Stevie Wonder
You Make Me Want to Make You Mine - Juice Newton

1989 -First black owners (Betram Lee and Peter Bynoe) to own a major sports team, purchasing Denver Nuggets for $65 million.

http://www.piperrudnick.com/lawyers/AttorneyBio.asp?id=20881

http://www.geocities.com/~arthurh/Denver-Nuggets.html

http://www.nba.com/nuggets/

1995 - Mariah Carey’s "Daydream" was the number one album in the U.S. The album featured the smash hits "Fantasy" and "One Sweet Day" (both debuted on the singles chart at #1).

1997 - Elton John’s tribute to Princess Diana, "Candle in the Wind 1997", was declared by "The Guinness Book of Records" to be the biggest-selling single record of all time. In 37 days, the single reached 31.8 million copies sold, eclipsing the previous record held by Bing Crosby’s "White Christmas". The Crosby song sold an estimated 30 million copies worldwide -- in 55 years.

1998 - Patch Adams, starring Robin Williams, opened in the United States. The film was based on the '70s true story of a man who wanted desperately to be a doctor and help people, but spurned the melancholy protocol of medical school in favor of clowning and making a personal connection with patients. Williams and the film were both nominated for Golden Globes.

1998 - The invincible New York Yankees won their 24th World Series. They beat the San Diego Padres 3-0 this day to take the Series 4-0. It was New York’s second title in three years and its first sweep since 1950. Scott Brosius was MVP after finishing with a .471 batting average, eight hits, two home runs and six runs batted in. Mariano Rivera and Jeff Nelson both pitched in three Yankee games and both finished with a 0.00 ERA.

2000- In the longest World Series game ever played, the Yankees take Game 1 of the Subway Series, thanks to Jose Vizcaino's 12th inning two-out single, defeating the Mets, 4-3 in four hours and fifty-one minutes. The victory surpasses the streak established by the Murderers' Row clubs as the present Bronx Bombers win their 13th consecutive World Series game.

2002- Florida team president David Samson, in an effort to get fans "falling back in love with the Marlins,'' announces plans which includes free hot dogs and a cozier atmosphere at Pro Player Stadium. The average crowd of 10,038 per home game, more than a third less than the previous season, was next-to-last in the major leagues in attendance this year.

World Series Champions This Date

1973 Oakland Athletics

1976 Cincinnati Reds

1980 Philadelphia Phillies

__________________________________________________________________

[Headlines]