This Border ##### Denotes Press Release (Not Written By Leasing News)
Listed are Attorneys and law firms who specialize in the leasing industry, belong to a leasing association, and are looking for clients to represent---free ad
California - statewide: CA "ELA"
5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders,plus collection and creditor rep. in bankruptcy. Email:email@example.com
California - statewide: Encino, CA. "ELA"
24 Attorney AV-rated Law firm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court. email:firstname.lastname@example.org
Connecticut, Southern New England: EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates. email: email@example.com EAEL
Law Firm - Service, Dallas, TX. ELA
Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.
Los Angeles, Statewide: CA. "ELA"
Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly basis. email:RGarwacki@prodigy.net
Los Angeles -statewide: CA "ELA "
Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email: firstname.lastname@example.org
Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs: Email:email@example.com
National: Coston & Lichtman: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate; workouts, litigation, bankruptcy. Chicago & Florida offices. Jim Coston, CLP (Members: ELA/UAEL/MAEL)
Northern California - Statewide: CA "EAEL" "ELA" San Francisco expertise at Marin County prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq. 415-721-7900
NY Metro and National: Hackensack, NY
Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. Email:firstname.lastname@example.org "ELA"
#### Press Release ##########################
Law firm of Hemar & Associates announces new member
The law firm of Hemar & Associates is pleased to announce
that Samuel W. Gordon, Esq., has joined the firm. Sam brings more than
30 years of legal experience in the equipment leasing industry to the
firm, and is considered a leading authority in the field of leasing
### Press Release ##########################
ORIX Interim Results/Revenues Down Finance Leases
TOKYO----ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, today announced that revenues in the first six months of the fiscal year ending March 31, 2004 increased 3% year on year to 345,871 million yen, income before income taxes* rose 53% to 58,256 million yen, and net income grew 38% to 31,419 million yen.
Revenues for "direct financing leases" and "interest on loans and investment securities" were down compared to the previous fiscal year as ORIX continued to focus on the profitability of each transaction and carefully selected new assets. However, revenues from "operating leases" increased mainly due to an improvement in the precision measuring equipment rental business along with gains from the sale of some office buildings, while "residential condominium sales" also grew during the period. In addition, lower "write-downs of long-lived assets" and "write-downs of securities," and an increase in "equity in net income of affiliates" contributed to the higher earnings.
2003/4-9 2003/4-9 Change 2003/7-9 Change
US$ JPY on JPY on
millions** millions** 2002/4-9 millions** 2002/7-9
Total Revenues 3,109 345,871 Up 3% 174,954 Up 1%
Income Taxes* 524 58,256 Up 53% 32,336 Up 177%
Net Income 282 31,419 Up 38% 17,321 Up 195%
(JPY/US$) 3.37 375.42 Up 38% 206.96 Up 195%
(JPY/US$) 3.18 353.65 Up 38% 194.94 Up 194%
2003/9 2003/9 Change Change
US$** on on
(JPY millions) 4,864 541,078 Up 3% Up 7%
(JPY millions) 51,098 5,684,598 Down 4% Down 4%
(JPY/US$) 58.11 6,465.22 Up 3% Up 7%
*"Income before income taxes" refers to "income before
extraordinary gain, cumulative effect of a change in accounting
principle and income taxes" in the consolidated statements of income.
**U.S. dollar amounts have been calculated at JPY111.25 to $1.00,
the approximate exchange rate prevailing at September 30, 2003. Unless
otherwise stated, all amounts shown are in millions of Japanese yen or
millions of U.S. dollars, except for per share data, which are in
single yen or dollars.
The "Equipment Operating Leases" segment had higher segment profits thanks to the continued improvement of the precision measuring equipment rental business, while the "Real Estate" segment also performed strongly with contributions from the condominium development business and gains from the sale of office buildings. In the "Asia and Oceania" segment, the strong performance of the automobile leasing operations of each company in the region and the contribution from equity method affiliates also added to segment profits.
Operating assets were down 4% to 4,937,086 million yen and total assets were also down 4% to 5,684,598 million yen compared to March 31, 2003 due to our cautious selection of new assets and our continued attempt to grow profits without increasing assets. Shareholders' equity increased 7% on March 31, 2003 to 541,087 million yen and the shareholders' equity ratio was 9.5% compared to 8.5% at March 31, 2003. ROE (annualized) rose from 9.1% to 12.0% and ROA (annualized) improved from 0.73% to 1.08% compared to the six months ending September 30, 2002.
For details on the interim earnings announcement please access "Interim Results 2003/9" and "Analysis of Interim Results 2003/9" from ORIX's web site at: http://www.orix.co.jp/ir_e/data/report/index.htm.
ORIX Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value- added products and services to both corporate and retail customers. With operations in 23 countries worldwide, ORIX's activities include: leasing, corporate finance, real estate-related finance and development, life insurance, and investment and retail banking. For more details, please visit our web site at: www.orix.co.jp/index_e.htm.
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission.
Leslie Hoy, +81-3-5419-5102
### Press Release #########################
Premier Names Randal Smith Program Manager
Intensified Focus on New Product Development for Commercial Lessor
Seattle, WA and Cincinnati, OH - - Randal Smith was
recently named Program Manager for the Commercial Lessor Customer
Segment of Premier Lease & Loan Services, located in Seattle, WA.
Smith will identify the insurance and risk management needs of
commercial equipment lessors and will incorporate delivery,
distribution, product positioning and specialized processing needs into
the design of new product solutions.
According to Vic Villegas, Vice President, Commercial Lessor Customer
Segment, "The addition of Randal to our team represents an investment by
Premier Lease & Loan Services to provide additional solutions to our
current and future customers. We have some great opportunities, and
Randal will be a great resource to get focused on the best ones."
Smith brings with him more than 10 years of industry experience gained
through positions including profit center manager for the Great American
Insurance Company's trucking division where he designed and implemented
the distribution of commercial insurance products via Freightliner
dealerships. After which, he joined Premier Lease & Loan Services as
General Sales Manager of the Northeast and Midwest regions. Prior, he
was the managing partner of a Transportation Specialists Insurance
Agency, program manager of several national programs at TIG, and
National Sales Director for Transport Insurance Company.
About Premier Lease & Loan Services
Premier Lease & Loan Services offers a broad range of insurance products
and outsourcing solutions with a focus on customer satisfaction to meet
the needs of equipment lessors. Premier's creative and flexible programs
provide risk management, fee income and product enhancement benefits.
Headquartered in Cincinnati, Premier Lease & Loan Services has offices
in Seattle, Chicago, San Diego, and New York City in the United States,
as well as in Canada, the United Kingdom and Germany. Premier Lease &
Loan Services is a member of Great American Insurance Group. Great
American's parent company, American Financial Group, Inc. is a publicly
owned New York Stock Exchange listed corporation (NYSE: AFG) based in
Premier Lease & Loan Services
Premier Lease & Loan Services
Member Great American Insurance Group
49 East Fourth Street, Ninth Floor
Cincinnati, Ohio 45202
(513) 763-6191 tel
(513) 763-8308 fax
### Press Release ######################
Letters---We get E-mail---
Rob Yohe Doing Okay
In the “coda” to Loni Lowder’s report on theUnited Association of Equipment
Leasing , we reported that Rob Yohe, bank negociant and portfolio
appraiser/buyer/seller consultant, had fallen and broken his hip. After
spending almost a week in the Portland hospital, he is now home
“I am doing O.K. It has been 2 weeks since my fall. I still cannot sit up for
very long. Having troubles with my laptop working upstairs and have difficulty
getting downstairs to my office. I'll have an "official" press release for
you next week (I hope) as there are many people I'd like to thank. I am just too
tired and in too much pain to write right now.”
Holmes will be missed----
I am a long time employee of Orix and I was never aware of this web site until last week. There is seems to be a lot of controversy and misinformation on this site about Orix. I was never here during the Palitz era, but I would say that they had nothing to do with the portfolio problems that Mr. Holmes encountered when he joined in 2000. It seems most if not all of the negative comments are from ex employees like Steve Geller who could not adjust to the new strategy. The old OCAI strategy produced a portfolio that generated hundreds of millions of losses in the past 3 years.
Not only did Holmes clean the old portfolio up, but he built 3 new profitable business groups. Your copy of his farewell letter shows his class and also speaks to the profitability of Orix. He created a team culture. He was a true leader and was very much respected and will be missed.
Goodbye, Leasing World
I wanted to take a minute to thank you for your free classified ads and your help to me in this industry. I recently moved from San Diego to New Jersey (NYC area) and hoped to stay in the leasing industry.
I put an ad in your newsletter and did find one company that was hiring, unfortunately we couldn't agree on salary and I had to keep looking. I have now found a great job with an electronics company. The company is international
and trades on six world stock markets.
I am very excited about the new possibilities with this company but will miss the leasing biz. The good news is that they are considering offering leasing to their customers so I might just be able to keep in touch that way.
So, thanks again Kit for being such a great resource. With that said, I would now like to be taken off your mailing list, at least for now.
(Leasing News has seen a considerable series of requests to be removed
from our mailing list, primarily because the reader has left the industry.
Several have said they were retiring, such as Gary Pallades, but had
no parting words. While the economy may appear to be recovering,
many employees are leaving the industry all together. editor.)
Cristo Colombo Controversy
Although I don't get the opportunity to read your newsletter every day I do when I can. I know that you welcome discussion regarding everything and anything that you publish, as any good editor should.
It would be silly to think that everyone is agreeable to every report made whether it be in your newsletter, a newspaper, magazine or on the TV News. But that doesn't mean that I am going to stop reading, stop watching TV and stop all my subscriptions every time I come across something I don't agree with.
Of course I am generalizing here, but I feel that our society has completely become over sensitive and has lost the ability to have and understand that there are different points of view, and that unfortunately some of the "history" that we were all taught as youngsters (and some that is still being taught today) has a slant to it.
You work hard to get us the information. Whether we choose to read it, like it or dislike it, is up to us.
Keep up the good work.
Regarding the controversy over Christopher Columbus I would like to add my
comment: Yawn. Keep up the day in history. For those who asked to be removed
from your list I would say that the professors that I was knew, from my time
in academic publishing, would groan, once again, about the shallow
intellectual level of the students they had in class. Now I see some those
students are in leasing.
Who Are the Two with Debbie Monosson?
That picture was taken at least 10 years ago. Along with Debbie and
myself is Kelly Long at that time with First Concord Financial. Such a good
Memory of Great Times and wonderful colleagues.
Robert Searcy Robert@FirstFinancialLeasing.com
The two men are Kelly Long, First Concord Acceptance, Denver Co on the left in
blue shirt and Robert Scearcy, First Financial Brokerage, Princeton NJ on the Right
in brown coat.
Hope this helps.
Park Western Leasing, Inc.
The person standing to Debbie's left is Kelly Long, now retired from the
leasing industry and living in South Dakota.
Kelly has retired from the leasing industry in Denver. He may very well be in the leasing industry in South Dakota (if there is one).
MARK H. SPEROS, Director
I'm pretty sure that the fellow on Debbie's right (viewer's left) is Kelly Long, who was with First Concord in Denver..
forced lease insurance
Please review civil action no. CV-02-1133 (Slocum Properties, Inc. et al v General Electric Capital Corp, et al) filed in Mobile County (AL)circuit court. It is a class action suit that revolves around force placed insurance on leased equipment. According to the court, a settlement of $11.8 million has been reached between GE and the class of plaintiffs. The root of their claim was that the practice of procuring insurance for those customers that failed to satisfy the insurance requirement of the lease was unlawful and involved 'excessive charges and fees.' I suspect that most of your readership would sympathize with GE (there's a first time for everything). 'Excessive charges and fees' aside, an action like this will probably degrade, either actual or perceived, the asset value of a securitization pool or even a bank line secured by leases since there will be less assurances that the risk of equipment loss will be transferred to an insurance company. Prices go up and availability of credit goes down. Simple economics that will be lost on the majority of borrowers.
NAELB Atlanta, GA
I thought I would give you a heads up on the upcoming conference in Atlanta on November 7-8. During the past month I have traveled from Atlanta to California to Oregon and back. Everywhere I go I sense a renewed vigor and optimism among the broker/lessor community, and the early registration numbers seem to bear this out.
To give you a bit of perspective about our expectations, three weeks before the Irvine meeting we had 22 registered attendees and our final count was 82. We are about three weeks away from the Atlanta meeting and we have 59 registered thus far. We have had to increase our room block and well as arrange for larger meeting accommodations. Good problems to be sure.
We are repeating the New Member Special. If a non member attends the Atlanta conference and joins NAELB at the meeting they get $50.00 off their 2004 dues and the balance of the year free.
Leasing professionals can view the agenda and register at www.naelb.org. For hotel reservations at the Sheraton Gateway Hotel at 770-997-1100. If they are full, there is a Hampton Inn next door 770-996-0427.
On behalf of the 500 plus members of the NAELB I would like to invite everyone to attend what is shaping up to be a fantastic meeting.
Bob Bell, CLP
(Charlies Lester will be covering this event for Leasing News.)
*** announcement *******************************
Teichman Financial Training Presents
The Deal is in the Details
A WORKSHOP IN FINANCIAL STATEMENT ANALYSIS & INTERPRETATION
WHEN: MONDAY, NOVEMBER 17, 2003
WHERE: RAMADA INN, 324 East Shaw, Fresno, CA 93710
Tel: 559 224-4040
TIME: 9:00 a.m. to 4:00 p.m. (lunch on your own)
How to read and interpret your prospect's financial statements.
How to qualify your prospects.
How funders look at full disclosure transactions.
How to understand what the real story is in your story credit.
How to explain your deal to your credit manager or funder.
How to make the best use of your selling time.
The class will be presented by Bob Teichman, CLP, an industry veteran
celebrating his 40th year in the equipment leasing business.
COST: $245 (first attendee from a company)
$225 (for each additional attendee from a company)
Pre-register by sending your check to Teichman Financial Training, 3030
Bridgeway, Sausalito, CA 94965. Registration at the door on a space-available basis
For more information call: 415 331-6445 or e-mail BoTei@aol.com
Bob Teichman, CLP
Teichman Financial Training
3030 Bridgeway, Suite 213
Sausalito, CA 94965
"Providing education and training to the equipment leasing and financing
**** announcement ***************************
Please see our Job Wanted section for possible new employees:
### Press Release ########################
MB Financial, Inc. Reports Record Earnings for the Third Quarter, an 11.8% Increase in Net Income
CHICAGO--(BUSINESS WIRE)----MB Financial, Inc. (NASDAQ:MBFI) (the Company), the holding company for MB Financial Bank, N.A. and Union Bank, N.A. (collectively, the Banks), announced today third quarter results for 2003. The Company had net income of $13.6 million for the third quarter of 2003 compared to $12.2 million for the third quarter of 2002, an increase of 11.8%. Fully diluted earnings per share for the third quarter of 2003 increased 10.3% to $0.75 compared to $0.68 per share in the third quarter of 2002.
Mitchell Feiger, President and Chief Executive Officer of MBFI said, "We experienced another quarter of record-breaking performance, as we continue to expand our service offerings and grow both net interest income and non-interest income."
In addition to the operating results noted above, the Company had the following significant items that occurred during the third quarter of 2003:
-- Return on average equity of 14.95% for the quarter;
-- Return on average assets of 1.28% for the quarter;
-- Net gains on sale of securities available for sale increased $805 thousand to $827 thousand from the third quarter of 2002;
-- Reclassified the Company's $7.7 million mobile home loan portfolio to loans held for sale and recorded a lower of cost or market adjustment of $800 thousand;
-- Increased the Company's quarterly cash dividend 20% over the second quarter of 2003 to $0.18 per share;
-- Approved plans to repurchase up to 300,000 of the Company's outstanding shares;
-- Acquired a new corporate headquarters building in Rosemont, Illinois for $19.3 million.
See "Selected Financial Ratios" section below for additional statistical data regarding the Company's 2003 third quarter and year to date performance.
RESULTS OF OPERATIONS
Third Quarter Results
Net income was $13.6 million for the third quarter of 2003 compared to $12.2 million for the third quarter of 2002. Net interest income, the largest component of net income, was $36.4 million for the three months ended September 30, 2003, an increase of $1.9 million, or 5.5% from $34.5 million for the third quarter of 2002. Net interest income grew primarily due to a $432.3 million, or 12.6% increase in average interest earning assets, which offset a 22 basis point decline in the net interest margin, expressed on a fully tax equivalent basis, to 3.83% from the comparable 2002 period. The increase in average interest earning assets was due to the acquisition of South Holland Bancorp, Inc. (South Holland) in the first quarter of 2003 and continued growth of the Company's commercial lending business.
The provision for loan losses increased by $2.0 million to $5.4 million in the third quarter of 2003 from $3.3 million in the comparable 2002 period. The increase was due to increases in non-performing loans and net charge-offs during the quarter.
Other income increased $7.7 million, or 81.1% to $17.1 million for the quarter ended September 30, 2003 from $9.4 million for the comparable 2002 period. Net lease financing increased by $2.4 million, due to $1.1 million in additional revenues resulting from the acquisition of LaSalle Systems Leasing, Inc. (LaSalle) in the third quarter of 2002 and improved residual performance within the lease investment portfolio. Trust asset management and brokerage fees increased by $2.3 million due to a $1.6 million increase in brokerage fees and a $707 thousand increase in income from trust asset management activities. Brokerage fees increased due to additional revenues generated by MB Financial Bank's wholly owned full service broker/dealer, Vision Investment Services, Inc. (Vision), acquired in the South Holland merger. The $707 thousand increase in trust asset management income was due to an additional $722 thousand in revenues generated by the South Holland trust business. Deposit service fees increased by $1.9 million due to a $1.6 million increase in NSF and overdraft fees, which grew due to the acquisition of South Holland, as well as the introduction of a new overdraft protection product and other deposit service pricing methods that went into effect in January 2003. Net gains on sale of securities available for sale increased by $805 thousand due to a $827 thousand gain incurred in 2003 compared to a $22 thousand gain in 2002. Loan service fees increased by $688 thousand to $1.6 million due primarily to increases in prepayment fees and letter of credit fees of $318 thousand and $162 thousand, respectively. Other operating income declined by $303 thousand due primarily to an $800 thousand lower of cost or market adjustment on mobile home loans transferred to loans held for sale.
Other expense increased by $5.6 million, or 24.3% to $28.5 million for the three months ended September 30, 2003 from $22.9 million for the three months ended September 30, 2002. Salaries and employee benefits increased by $3.0 million due to the South Holland and LaSalle acquisitions and the Company's continued investment in personnel. Brokerage fee expense increased by $1.1 million due to the Vision acquisition during the 2003 period. Other operating expense increased $901 thousand primarily due to the LaSalle and South Holland acquisitions referred to above.
Net income was $39.1 million for the nine months ended September 30, 2003 compared to $34.1 million for the nine months ended September 30, 2002, an increase of 14.8%. Net interest income, the largest component of net income, was $105.0 million for the nine months ended September 30, 2003, an increase of $5.3 million, or 5.3% from $99.7 million for the first nine months of 2002. Net interest income grew primarily due to a $464.8 million, or 14.0% increase in average interest earning assets, which offset a 30 basis point decline in the net interest margin, expressed on a fully tax equivalent basis, to 3.78%. The increase in average earning assets was primarily due to the acquisition of the First National Bank of Lincolnwood (Lincolnwood) in the second quarter of 2002, South Holland in the first quarter of 2003, and growth of the Company's commercial lending business.
The provision for loan losses declined by $301 thousand to $10.2 million in the first nine months of 2003 from $10.5 million in the comparable 2002 period.
Other income increased $22.2 million, or 81.8% to $49.3 million for the nine months ended September 30, 2003 from $27.1 million for the comparable 2002 period. Net lease financing increased by $7.4 million primarily due to $5.1 million in additional revenues from LaSalle, which was acquired in the third quarter of 2002, and improved residual performance within the lease investment portfolio. Trust asset management and brokerage fees increased by $6.4 million due to a $4.4 million increase in brokerage fees and a $2.0 million increase in income from trust asset management activities. Brokerage fees increased due to the acquisition of Vision. The $2.0 million increase in trust asset management income was primarily due to an additional $1.8 million in revenues generated by the South Holland trust business. Deposit service fees increased by $4.8 million primarily due to a $3.9 million increase in NSF and overdraft fees, which grew due to the acquisition of South Holland as well as the introduction of a new overdraft protection product and other deposit service pricing methods that went into effect in January 2003. The sale of Abrams Centre National Bank (Abrams) in the second quarter of 2003 resulted in a $3.1 million gain. Other operating income increased by $966 thousand primarily due to the LaSalle, South Holland, and Lincolnwood acquisitions referred to above, as well as $1.1 million in gains on sale of real estate loans which were offset by an $800 thousand lower of cost or market adjustment on mobile home loans transferred to loans held for sale in the third quarter of 2003.
Other expense increased by $20.4 million, or 30.6% to $87.1 million for the nine months ended September 30, 2003 from $66.7 million for the nine months ended September 30, 2002. Salaries and employee benefits increased by $10.4 million due to the South Holland, Lincolnwood and LaSalle acquisitions and the Company's continued investment in personnel. Brokerage fee expense increased by $2.7 million due to the acquisition of Vision. Other operating expense increased by $2.2 million due to the acquisitions referred to above. Professional and legal expense increased by $1.6 million. This increase was primarily due to the write off of $1.0 million in costs associated with planning construction of a new corporate headquarters prior to management's decision to pursue the more cost-effective option of purchasing an existing building in Rosemont, Illinois. In conjunction with the sale of Abrams, the Company settled litigation costing approximately $300 thousand. Additionally, the Company incurred approximately $400 thousand in legal expense as the plaintiff in litigation defending its corporate trademark. Prepayment penalty on Federal Home Loan Bank advances increased by $1.1 million due to a penalty incurred in the 2003 period on the payoff of $8.1 million in long-term advances as the Company attempted to better position its balance sheet. Occupancy and equipment expense, computer services expense and advertising and marketing expense increased by $1.0 million, $579 thousand and $566 thousand, respectively, due to the acquisitions referred to above.
B Financial, Inc.
Jill York, 773-645-7866
### Press Release ########################
Making a Stand as Blaze Closes on Los Angeles
Current Satellite View of Fire in Southern California
Fire Wrap-Up by San Diego Tribune-Union
California Top Cost Fires---History
Bank of America, FleetBoston Plan to Merge
American Express Profit Jumps 12 Percent
Tyco Trial Turns to 'Birthday Bash'
This Tyco Videotape Has Been Edited for Content
Unions anticipate grocery strikes in Northern California in 2004
ABC News reconstructs Kennedy assassination, confirms Warren Commission conclusion
North Korea has delivered 400 ballistic missile to Mideast
U.S. Rugby Team Ends 16 - Year Losing Skein
"Gimme that Wine"
Wines for Halloween (Available at Cost Plus & other retailers)
Thanksgiving Wine Poll
This Day in American History
1646- At Nonantum, Mass., colonial missionary John Eliot ("Apostle to the New England Indians"), 42, conducted the first Protestant worship service for the Indians of North America. He also delivered the first sermon preached to the Indians in their native tongue.
1793-Eli Whitney applies for a patent on the cotton gin. According to history one of his black slaves had come up with the idea from using a comb to a cylinder, in which he had made a prototype of
wood. Upon seeing it, Whitney made some experiments, put it to paper, and sent a letter to register the idea. He then spent a year making a metal prototype. He called it a cotton gin ( short for “engine.” It turned quickly, easily separating cottonseed from the short-staple cotton fiber. Whitney's cotton gin was capable of maintaining a daily output of 23 kg (50 lb) of cleaned cotton, and its effect was far-reaching, making southern cotton a profitable crop for the first time. Whitney, however, failed to profit from his invention. Numerous imitations appeared, and his 1794 patent was not validated until 1807. In 1798, Whitney obtained a government contract to make 10,000 muskets. He demonstrated that machine tools--manned by workers who did not need the highly specialized skills of gunsmiths--could produce standardized parts to exact specifications, and that any part could be used as a component of any musket. The firearms factory he built in New Haven, Conn., was thus one of the first to use mass production methods.
of Levi Coffin, founder of The Underg
1842-Birthday of Anna Elizabeth Dickinson, influential American orator and author of the Civil War era, born at Philadelphia, PA. As an advocate of abstinence, abolition and woman suffrage, she earned the nickname, “ American Joan of Arc.” She died on October 22,1932.
1846-The pioneering Donner Party, a group of 90 people consisting of immigrants, familes and businessmen led by George and Jacob Donner and James F. Reed, head toward California from Springfield, IL, in hopes of beginning a new life. They experienced the normal travails of caravan traveluntil their trip took several sensational twists, Indian attacks and winter weather which forced them to interrupt their journey led to famine and outright cannibalism which took their toll on members of the party whose numbers dwindled to 48 by joruney’s end.
1864- Second Battle of Fair Oaks located on the defensive perimeter around the Confederate capital of Richmond. General Robert E. Lee's army constructed five lines of trenches that stretched 25 miles south to Petersburg. For five months, Lee's troops had been under siege by the forces of Union General Ulysses S. Grant. The monotony of the siege was broken only periodically by a Union attempt to break Lee's lines. One such attack came at Hatcher's Run, southwest of Petersburg, on October 27. At the same time, Grant ordered an attack at Fair Oaks, about 24 miles from the assault at Hatcher's Run.
The Richmond defenses were formidable, so any direct assault was unlikely to succeed. By attacking at Fair Oaks, Grant hoped to prevent Lee from shifting any troops along the Richmond-Petersburg line to reinforce the lines at Hatcher's Run. Some 1100 Union men were killed, wounded, or captured during the attack, while the Confederates lost just 450. The planned diversion did not work--at the far end of the defenses, the Yankees failed to move around the end of the Confederate line at Hatcher's Run.
1864- Battle of Wauhatchie, TN, one of the few night engagements of
the Civil War, won by the Union troops to open up a badly needed
supply route, establishing what was then called “The Cracker Line.”
1864- In the midst of the Battle of Burgess' Mill VA , cavalry commander CS Gen Wade Hampton came upon his sons - mortally wounded Frank Preston Hampton and Wade Hampton, Jr. who had been shot while coming to his brother's aid.
1875- Birthday of Gilbert H. Grosvenor, the editor credited with transforming National Geographic Magazine from a small scholarly journal into a dynamic world-renowned monthly, born at Istanbul, Turkey, died 1966.
( lower half of: http://memory.loc.gov/ammem/today/oct28.html)
1886- Frederic Auguste Barthold's famous sculpture, the statue of Liberty Enlightening the World, on Bedloe's Island in New York Harbor was dedicated. A sonnet by Emma Lazarus, inside the pedestal of the statue, contains the words: "Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tost to me, I lift my lamp beside the golden door." Here is a little known fact, when the Statue of Liberty was dedicated in New York Harbor,d women were barred from the ceremony because it would be too crowded and rough for the ladies, but a group of women chartered a boat and circled the island singing and shouting women's rights messages.
1896-Birthday of Howard Hanson, composer/conductor/educator born Wahho, NE. In 1921 he became the first American to win the Prix de Rome. In 1924 eh became head of the Eastman School of Music at the University of Rochester, NY, where he served for 40 years. Best known for the music he composed, Hanson was awarded the Pulitzer Prize as outstanding contemporary composer in 1944 for his composition Symphony No. 4, the George Forster Peadboy Award in 1946, the Laurel Leaf of the American Composers Alliance in 1957 and the Huntington Foundation Award in 1959. He died at Rochester, Feb 26, 1981 949-Helen Eugene Moore Anderson became the first woman to hold the post of US ambassador when she was worn in by President Harry S. Truman . She served as Ambassador to Denmark.
1904-St Louis police try a new investigation method-fingerprints.
1907-Birthday of alto sax player Rudy Power, New York City, NY
1914-Birthday of Jonas Salk, developer of the Salk polio vaccine, born at New York, New York.
Salk announced his development of a successful vaccine in 1953, the year after a polio epidemic claimed some 3,300 lives in he US. Polio deaths were reduced by 95 percent after the introduction of the vaccine. Salk spent the last 10 years of his life doing AIDS research. He died June 23, 1995 at La Jolla, CA. 1919- Congress passed the Volstead Act ,prohibiting the "manufacture, sale, or transportation of intoxicating liquors" in the United States. The Roaring Twenties
were about to begin. A little known fact, the Volstead Act did cut down the alcoholic rate in the United States, with less fatalities and family problems. Many
of the nightclubs legally sold alcohol beverages as anything in their inventory
was “legal.” Crime in the Midwest was rampant before the 1920’s. The advent
of the machine gun and automatic weapons increased the crime rate, not the commerce of alcohol from Canada and Mexico.
1916- Birthday of trombonist Bill Harris.
1928-Birthday of accordion player Iry LeJeune, Point Noir, LA
1928-The First Men’s Field Hockey Game: The Westchester Field Hockey Club of Rye, NY, defeated the Germantown Cricket Club of Germantown, PA, 2-1, in the first organized men’s field hockey game played in the US.
1938-John Kirby records his trumpet man Charlie Shavers’s “Undecided,” Decca.
1939-Birthday of singer Andy Bey, Newark, NJ
1946 - Our favorite flying cowboy was heard on ABC radio for the first time. "Sky King" starred Jack Lester, then Earl Nightingale, and finally, Roy Engel, as Sky. Beryl Vaughn played Sky’s niece Penny; Jack Bivens was Chipper and Cliff Soubier was the foreman. "Sky King" was sponsored by Mars candy.
1949-Birthday of William Bruce Jenner, sportscaster., Olympic gold medal decathlete, born Mount Kisco, NY.
1950-“The Jack Benny Program” premiered on television. One of radio’s favorite comedians, Jack Benny made the transition to favorite TV personality with this situation comedy-variety show in 1950.
In March 1932, then-newspaper columnist Ed Sullivan, dabbling in radio, asked Benny, a star in vaudville, to do an on-air interview. Benny reluctantly agreed. His comedy, though, was so successful that Benny was offered his own show In many of these skits, Benny portrayed himself as a vain egomaniac and notorious pinchpenny who refused to replace his (very noisy) antique car and who kept his money in a closely guarded vault. His regulars included his wife, whose character, Mary Livingstone, deflated Benny's ego at every opportunity; Mel Blanc, who used his famous voice to play Benny's noisy car, his exasperated French violin teacher, and other characters; and Eddie Andersen, one of radio's first African American stars, who played Benny's long-suffering valet, Rochester Van Jones. The program ran until 1955. One of my favorite lines came from
a skit where a robber sticks a gun in his ribs and says, “Your money or life? “ The silence went on for many minutes, until Benny turns deadpan to the camera and answers, “I’m THINKING! “
1955 –Birthday of William H. Gates, Seattle, Washington. Gates and his childhood friend Paul Allen began programming in high school, when they created and sold a program to control traffic patterns in Seattle. Gates dropped out of Harvard in 1975 after he and Allen created a compiler for the BASIC computing language and sold it to fledgling PC company MITS. In 1977, Gates and Allen founded Microsoft and built the company by creating versions of BASIC for various personal computers. The company's biggest break came in 1981, when IBM introduced the IBM PC, running Microsoft DOS as its operating system. Microsoft's lock on the operating system market grew stronger, and Gates became one of the wealthiest men in America by the time he turned thirty-five.
1958- In San Francisco, construction begins on the Giants' new ballpark in an area where the rocks look like candlesticks jutting into the San Francisco Bay. The developer gifts the land with the stipulation the park be named after him.
I Want to Be Wanted - Brenda Lee
1960--- -The American Football League granted their seventh franchise to Buffalo with Ralph C. Wilson, Jr. of Detroit as principal owner
-Ground is broken for the Flushing Meadow Stadium; the future home of
the New York Mets will be known as Shea Stadium in honor of Bill Shea,
a lawyer who helped to bring back the NL to the Big Apple.
1961 - Brian Epstein, a record store owner in London, was asked by a customer for a copy of the record, "My Bonnie", by a group known as The Silver Beatles. He didn’t have it in stock so he went to the Cavern Club to check out the group. He signed to manage them in a matter of days and renamed them The Beatles.
1961 - Groundbreaking ceremonies were held for the Municipal Stadium at the former site of the New York World’s Fair in Flushing, NY. The name was later changed to Shea Stadium, after New York Commissioner William A. Shea.
1964-Marietta Peabody Tree was sworn in to the Trusteeship Council of the United Nations, becoming the first United Nations permanent ambassador who was a woman. She had served since 1961 as a United Nations delegate.
1965 - The Gateway Arch (630ft/192m high), St. Louis, Missouri, was completed. Construction had begun Feb 29, 1964.
1967- Actress/producer Julia Roberts birthday, born Smyrna, GA.
1969-Charges that an illegal war in Laos was being conducted without congressional knowledge or consent were leveled against President Richard Nixon, the administration and the Pentagon by Senator J. William Fullbright, chairman of the Senate Foreign Relations Committee.
1970-Ky marshals were appointed in accordance with President Richard M. Nixon’s presidential directive to deal with the proliferation of hijackings of commercial airplanes. The Treasury Law Enforcement Officers Training School graduated 46 marshals on December 23, 1970, and 81 marshals, including four women, on April 9, 1971.
1972-Birthday of football player Terrell Davis, San Diego, CA.
1973 –Secretariat, the colt many considered the greatest thoroughbred race of all time, concluded his career with a victory in the Canadian International Championships at Woodbine Race Course. His jockey on this occasion was Eddie Maple, substituting for the suspended Ron Turcotte..
1974 - Rhoda Morgenstern made TV history as she married Joe Girard on "Rhoda" on CBS. The show was a spin-off from the hugely successful "The Mary Tyler Moore Show".
1978 - Nick Gilder’s "Hot Child in the City" was the number one single on the "Billboard Hot 100". The hit was a track from Gilder’s "City Nights" album.
1980 - Annette Funicello, Cubby O’Brien, Tommy Cole, Sherry Alberoni and Dickie Dodd joined other Mouseketeers wearing black ears and white shirts on a sound stage in Burbank, CA. They were celebrating the 25th anniversary of the "Mickey Mouse Club". While we’re celebrating the "Mickey Mouse Club", do you remember the five special events each week? There was Fun with Music Day on Monday, Guest Star Day on Tuesday, Anything Can Happen Day on Wednesday, Circus Day on Thursday and Talent Roundup Day on Friday. “Y? Because we LIKE you!”
1981 - Game 6 of the World Series saw the Los Angeles Dodgers storm back, winning their forth straight game (9-2), and the championship, after having been down two games to none to the New York Yankees. Rookie pitcher Fernando Valenzuela started the Dodger comeback, and batters Ron Cey, Pedro Guerrero, Steve Garvey, and Steve Yeager took them the rest of the way. There had been genuine concern that snow might interfere with the Fall Classic since it was being played so late in the season in New York City. And we worry about that every year that there’s a World Series game in a northern city...
1986 - In the Neiman-Marcus catalogue this day, the store offered, as a unique holiday gift, a 100-year subscription to "The Wall Street Journal" -- for just $6,000. That was a $5,400 saving over the regular 100-year rate!
1989 - The Oakland Athletics beat the San Francisco Giants 9-6 to complete a four-game sweep of the World Series, the first World Series sweep since 1976. The A’s scored first in every game and never lost the lead once. Oakland pitcher Dave Stewart pitched two games, won two games, struck out fourteen hitters in sixteen innings, had an earned run average of 1.69 and was named MVP. The Series will be remembered not only for the A’s dominance, but also for the earthquake before game three that killed sixty- seven people in the San Francisco Bay area.
1995 - Atlanta Braves right fielder David Justice broke a scoreless tie with the Cleveland Indians. It was a solo home run in the bottom of the sixth in Game 6 of the World Series, and it was all the Braves would need. Pitcher/Series MVP Tom Glavine allowed just one hit in eight innings, and Mark Wohlers pitched a perfect ninth to seal the championship, the first in Atlanta’s history.
1996-Newspapers reported that Egghead, Inc. had started delivering software via the Internet directly to customers' computers, a major innovation at the time.. The move made Egghead the first major software retailer to deliver programs over the Internet. Egghead closed about half its retail stores in 1996, and in 1998, the company closed all its bricks-and-mortar stores and moved its entire sales operation to the Web.
1997-The National Basketball association hired five new referees for the 1997-98 season, including the first two women ever, Dee Kanter and Violet Palmer both had extensive experience working women’s college games and both worked exhibition games as a trial. Palmer got her first regular season assignment on October 31 in Vancouver. Kantner worked her first game on November 5, Philadelphia.
2002 -The Mets, after being unable to get permission to talk to Lou Piniella from Seattle and deciding not to wait ten days after World Series for the availability Giant skipper Dusty Baker, give Art Howe a four-year, $9.4 million deal to manage the team. New York's new skipper managed the A's to two AL West titles (2000, 2002) championships with his teams winning 383 games during the last four seasons matching Joe Torre's Yankee total.
World Series Champions This Date
1981 Los Angeles Dodgers
1989 Oakland Athletics
1995 Atlanta Braves