 |
 |
 |
 |
 |
 |
 |
 |
|
|
1995 Cartoon
Headlines---
Classified
Ads—Sr. Credit/Sr. Management
Financial
Pacific Prospectus Available
Balboa
Capital Alumni Association
8
Simple Ways to Control Stress
From Our Archives---April
17,2000
Advisor
Armon Mills Accepts New Position
Marlin Payoff Year
2000 Asset Backed Securitizations
GATX Info Tech Asset Sale to CIT=Both
Press Releases
Dods Retires as CEO from Bank of the
West
Lakeland
Bancorp Reports $3.6 Million in First Quarter Earnings
U.S.
Bancorp Equipment Finance Realigns Indirect Business
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
Classified Ads---Senior Credit Officer/Senior Management
Senior Credit Officer experienced in middle- market
leasing; structured, vendor and 3rd party to the fortune 1000. Proactive
team builder, originations capable with strong work ethic.
Email: kyletrust@hotmail.com
Senior Management: Baltimore, MD
25 year veteran of commercial and equipment leasing seeking
a senior management position with leasing or asset based financing company
in the southeast (Florida preferred)
Email: kellogg_md@yahoo.com
Senior Management: Denver, CO. Fortune 500 GM/SVP
wants to team up with aggressive lender looking for Western expansion
mid-market equip. finance/leasing. 20+ years experience within Rocky
Mountain/ Southwest and Ca markets.Email: legal@csotn.com
Senior management: Hope, NJ.
25 years in optimizing call center operations, collections,
billing, and back end revenue generation. Experienced in $7 + billion
dollar portfolios. Verifiable achievements.E-mail: cmate@nac.net
Senior Management: Irvine, CA.
Credit executive, portfolio manager and syndication facilitator.
Extensive business building experience in small and mid-ticket operations.
Highly innovative. Fortune 100 audit and technology skills. Bottom-line
manager.
Email: lenhubbard@bigfoot.com
Senior Management: Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez
young leasing company where promises were not met. Interested in joining
established firm with future. Email:bob33483@yahoo.com
Senior Management: New York, NY, NJ, Ct Tri-State
Top Exec. middle and big ticket, top skills treasury,funding,
ops,transaction detail, syndication, ready to max profit, help build
quality operation. right now!E-Mail: leasefinance@optonline.net
Senior Management: Portfolio Management Consultant;
25+years experience in Collections, Customer Satisfaction, Asset Management,
Recoveries, Continuous Process Improvement, Back end Revenue Generation,
Cost per Collection Analysis. $5+Billion Portfolio expertise. Email:
efgefg@rogers.com
Senior Management: San Francisco, CA., 25 years
experience w/global leasing company, sales,marketing,business dev.,
P&L responsibility, asset mgmt, brokering and re- marketing. Interested
in joining an est. firm with a future. Email:rcsteyer@yahoo.com
Senior Management: Somerville, NJ.
28 year veteran in Construction Equipment/ Transportation.
Full P&L responsibility, profit driven, team builder,
sales manager, strong portfolio management skills. Will consider relocation.
email: leasingman_95@hotmail.com
full post of
all classified ads at:
http://64.125.68.90/LeasingNews/JobPostings.htm
----------------------------------------------------------------------------
Financial Pacific Prospectus Available
by Christopher
“Kit” Menkin
Leasing News reported that the well-known “C” and “D”
funding
source has filed an IPO to raise $80.5 million dollars.
The actual
prospectus is now available.
Here is the full filing of the prospectus:
http://www.hoovers.com/financial-pacific/--ID__132645,ipage__
2724977--/free-co-secoutline.xhtml
Banc of America Securities LLC and Piper Jaffray will
serve as joint book-running managers for the offering, with SunTrust
Robinson Humphrey acting as co-manager.
Copies of the preliminary prospectus for the offering,
when available, may be obtained from Banc of America Securities LLC,
Prospectus Department, 100 West 33rd Street, New York, New York 10001,
or by telephone at 646-733-4166, or Piper Jaffray, 800 Nicollet Mall,
Minneapolis, Minnesota 55402, or by telephone at 800-333-6000.
For specific questions, please call: Dale A. Winter, 253-568-6120
Financial
Pacific has applied for a Nasdaq listing under the ticker symbol
"FNPC" ---- http://finance.yahoo.com/q?s=fnpc .
Known in the trade as “Fin Pac,” the company innovated
not only “liberal” credit policies in the small ticket marketplace,
particularly under $50,000
transactions, going down as low as $5,000, but also considered equipment types not considered
by others, which are still not highly accepted in the industry, such
as sales from private parties, “I mean old” equipment, restaurants,
new franchise, “owner and operator”
trucks and rigs, tanning booths, and personal property requiring landlord
waivers for the recycling trade, oil and gasoline, ATM machines at one
time, leases to people working out of their homes or those who had no
trades and paid most business bills with cash, young businesses, among
other so called “non-standard” transactions.
Their experience with “A” and “B” credits for this “non-standard”
equipment lead them to a sister company called ‘Affinity Leasing” to reach this market place
with a lower rate than an 18% base “buy rate. ” When they forecast the
tough times for the financial market, they closed this operation down
in the year 2000. Now that the leasing industry is starting to turn
around, they are getting ready to dominate the small ticket marketplace.
Specializing in “story credits” and “unusual” equipment,
along with general small equipment, including “A” and “B” credits, the
company has led the industry primarily via the brokerage business market
with a reported 450 lease broker network. They are well-known for their quick decisions,
spelling out requirements with every approval.
They are similar to Republic Leasing of South Carolina,
who is more in the “A” and “B” marketplace, relying on independent sales
men and women rather than an “in house” sales team. Marlin Leasing, along with Republic Leasing of South Carolina, is
in a similar marketplace, but Marlin differs as they have a minimum
of $1,000, plus state 80% of their business is either vendor or “in
house” direct sales driven. That
leaves Republic Leasing of Southern California and US Bancorp Manifest
who rely primarily on
the independent sales process.
Republic Leasing of South Carolina relatively recently
let go 100 independent brokers. It
should be noted it was a planned decision to accept brokers who had
a high percentage of getting approved leases signed, plus welcoming
larger discounters such as LeaseNow, which specializes in new franchise
equipment leases and LPI Financial, who specialize in medical and dental
unsecured loans. April 1 Republic Leasing of South Carolina was
made a division of Netbank with the rules and regulations of “bankers.”
Everyone
denies there will be changes, but those in the leasing
industry have heard
that before; time will tell.
US Bancorp last year spun off its “C” and “D” credits
to “Navigator,” run by veteran Ron Wagner, CLP, for Pentech Financial. The program is now 100%
in place, reportedly running very smoothly but only available
to
brokers who first go through US Bancorp Manifest. It
should be noted
the company’s president Brian Bjella left last month
to form a partnership with Ken Noyes called Grandview Financial with
sales guru Brad Peterson taking over the reigns.
In its field, Fin Pac has no real competition, except
for perhaps some
local lessors who make their own credit decision and
visit their
clients in person. On a volume basis, with loyal, ethical brokers,
they have no peer in their marketplace. With more capital,
they
will be very tough competition to beat.
The Financial Pacific employees for many years has been very active in their
local community, raising funds for charities and schools, especially
active in C.A.P. ( Community Action Program) which assists
the 24-Hour Run Against Cancer, Christmas for Familes in Need, March
of Dimes. The perhaps comes
from former president Douglas G. Erwin, now retired, who was a great
leader in motivation; well-known for ringing the bell
to cheering own his employees.
Doug
Erwin
The
picture above is from a 1995 brochure, and under the picture, he states:
“ I look forward to spending time with all of our brokers. I consider it one of the most important and
pleasant things that I do. As our company has grown, our broker “partners”
have become more and more important to financial Pacific Company. The knowledge, experience and ability of our
brokers has greatly enhanced the quality of our portfolio. We value the relationships we have developed
over the years and look forward to providing the service necessary to
keep our relationships thriving.”
In the 29 years in
business, they have established an excellent reputation in the leasing
community. Originally a local
company, they expanded to the
NorthWest, then opened up the Los Angeles market place,
and after
making it a success, expanded nationwide.
Terey Jennings, one of Doug Erwin protégées, travels
quite bit these
days, but comes home to smell the roses his wife Cherie
grows.
He is also very active in several leasing trade associations.
Jennings Riding the Waves
The company has a reputation in the industry for their
quick response, liberal credit (“putting deals together,”) and great
customer service. Perhaps
In the industry where leases are sold back and forth,
Fin Pac has held on
to all, with superb service, especially compared to others
who treat customers as if they can’t be bothered to answer questions
or research
an account.
Dave
Schafer, SVP
The
above picture is from the 1995 brochure, where he states, “ Providing
a consistent source of available bunds on a long-term basis is an important
inegredient ot developing successful broker relationships.
Portfolio management, finance, operations and account are the
key components in developing adequate sources of funds for a wide range
of transaction types. As always, I am committed to continue our tradition
of always having adequate resources to fund
our
brokers. “
According
to papers filed with the Securities and Exchange Commission, the company
has been profitable for four of the past five years. Its 2003 profit
of $5.3 million was almost two-and-a-half times higher than the 2002
figure. Revenue last year was nearly $43 million, a 5.9 percent increase
from 2002.
And
the spreads are attractive, too, at least for the lender: Interest income,
measured as a percent of average net investment in leases, was 20.16
percent last year, while interest expense as a percent of average revolving
and term debt was just 4.93 percent.
The
company operates nationwide, largely through independent brokers. At
the end of 2003, it had 15,592 active leases in its portfolio and lessees
in 48 states.
( Disclaimer:
Kit Menkin as American Leasing was one
of the first “discounters” with the company and has done
business with
them for ten years plus. Editor )
-------------------------------------------------------------------------------------
Re:
Brad Kissler Starting Strada Capital
Dear Brad:
Welcome to the Balboa Capital Alumni Association.
You should know that we now hold our regular quarterly meetings at Dodger
Stadium. This move occurred when it was realized that there was
no longer
enough room at Staples Center to accommodate us.
Good luck with your new venture.
Ken
Ken Goodman, CLP
Goodman & Associates
949/583-7560
kendg@msn.com
(There
is a rumor that Shawn Giffin is leaving Balboa Capital to join
Strada
Capital, but Kissler reports that is not true, although they
are
good friends, and he would welcome him aboard without
hesitation. Giffin visits Balboa Capital from time to time,
where Patrick Byrne is taking his turn as president, and was not available
for
comment.
As a side note, former Balboa Capital counselor Chris Parsons has become
the full time legal counsel for North American Capital.
(If
you want to reach Mr. Kissler, ask for his secretary Stephanie L. Harris,
she
can also give you thier address to send
flowers or a “grand opening
gift:
Phone = 949-789-8850
Fax = 949-789-8855
Email = bkissler@stradacapital.com )
-------------------------------------------------------------------------------------
8 Simple Ways to Control Stress!
Simple modifications in posture,
habits, thought, and behavior often go a long way toward reducing feelings
of stress and tension. Here are 8 quick and simple things you can do
immediately to help keep your stress level
under control.
1. Control Your Anger:
Watch for the next instance in which
you find yourself becoming annoyed or angry at something trivial or
unimportant, then practice letting go - make a conscious choice not
to become angry or upset. Do not allow yourself to waste thought and
energy where it isn't deserved. Effective anger management is a tried-and-true
stress reducer.
2. Breathe:
Breathe slowly and deeply. Before
reacting to the next stressful occurrence, take three deep breaths and
release them slowly. If you have a few minutes, try out breathing exercises
such as meditation or guided imagery.
3. Slow Down:
Whenever you feel overwhelmed by
stress, practice speaking more slowly than usual. You'll find that you
think more clearly and react more reasonably to stressful situations.
Stressed people tend to speak fast and breathlessly; by slowing down
your speech you'll also appear less anxious and more in control of any
situation.
4. Complete One Simple To Do:
Jump start an effective time management
strategy. Choose one simple thing you have been putting off (e.g. returning
a phone call, making a doctor's appointment) and do it immediately.
Just taking care of one nagging responsibility can be energizing and
can improve your attitude.
5. Get Some Fresh Air:
Get outdoors for a brief break. Our
grandparents were right about the healing power of fresh air. Don't
be deterred by foul weather or a full schedule. Even five minutes on
a balcony or terrace can be rejuvenating.
6. Avoid Hunger and Dehydration:
Drink plenty of water and eat small,
nutritious snacks. Hunger and dehydration, even before you're aware
of them, can provoke aggressiveness and exacerbate feelings of anxiety
and stress.
7. Do a Quick Posture Check:
Hold your head and shoulders upright
and avoid stooping or slumping. Bad posture can lead to muscle tension,
pain, and increased stress.
8. Recharge at the Day’s End:
Plan something rewarding for the
end of your stressful day, even if only a relaxing bath or half an hour
with a good book. Put aside work, housekeeping or family concerns for
a brief period before bedtime and allow yourself to fully relax. Don't
spend this time planning tomorrow's schedule or doing chores you didn't
get around to during the day. Drink good
wine, not the cheap stuff---life
is too short to.....
Remember that you need time to recharge
and energize yourself - you'll be much better prepared to face another
stressful day.
Take a vacation every once and a
while ( something I am still learning.editor)
If you missed yesterday’s placard by Maria Martinez-Wong, here
it is again:
----------------------------------------------------------------------------------------------------
From Our Archives---April 17,2000
---"35% of lease applications
are rejected", press release claims, and new service may place
them all. Advisory Board Member Harry Edwards promotes value of LeaseExchange
for his company Avcom.
SAN FRANCISCO--(BUSINESS WIRE)--April
17, 2000--Today, LeaseExchange introduced the first open, fair and efficient
marketplace for business-to-business leases, appropriately named The
Lease Exchange.
The Lease Exchange dramatically reduces
the time required to secure multiple competitive bids for an equipment
lease, and increases the chance a leasing customer will get approved.
"We're turning the $233 billion
equipment leasing industry on its head by creating an online marketplace
that accommodates everyone's needs -- leasing customers, equipment sellers
and leasing companies alike," said LeaseExchange CEO Aaron Ross.
"The Lease Exchange helps get more leases done more quickly, which
is what everyone involved in leasing needs."
According to a 1999 report released
by the Equipment Leasing and Finance Foundation, the average leasing
company rejects 35 percent of the lease applications it receives. Because
each leasing company has different application approval parameters,
other leasing companies would approve most of these applications when
given the opportunity. The Lease Exchange has a broad range of leasing
companies that approve varying credit qualities, geographies and types
of equipment, ensuring the highest possible approval rate.
Through The Lease Exchange, leasing
customers complete a simple, one-time application and quickly receive
bids from multiple leasing companies competing for their business. The
Lease Exchange also offers a live customer care center that can help
leasing customers negotiate the process.
The Lease Exchange benefits equipment
sellers as well. They can refer their customers to The Lease Exchange,
where multiple leasing companies compete for their customer's lease,
vastly increasing the chances of approval, speeding up the process and
ensuring competitive pricing.
"We are looking to The Lease
Exchange to dramatically improve the financial services, specifically
leasing, that AVCOM provides to its customers," said Harry Edwards,
chief operating officer and vice president of business development at
AVCOM Technologies, Inc., one of the nation's leading systems integrators
focused on Sun Microsystems products and solutions. "Having leases
processed through The Lease Exchange will make us more competitive and
create a better quality of service for us and our customers."
Finally, leasing companies also benefit
because they receive qualified applications with the information necessary
to make fast, accurate bids. This access to critical data allows them
to quickly filter applications and efficiently complete more leases.
The Lease Exchange levels the playing
field for customers, equipment sellers and leasing companies. For the
first time, leasing companies and businesses looking to lease equipment
can track the leasing process from beginning to end.
About The Lease Exchange
The Lease Exchange is the first open,
fair and efficient online marketplace where businesses can find the
best value for equipment leases. It is the only exchange that brings
together leasing customers, leasing companies and equipment sellers
to complete the lease transaction. Its customer-centric focus ensures
that all parties operate on a level playing field.
Founded in April 1999, LeaseExchange
received $3 million in first round funding from WaldenVC. Visit The
Lease Exchange at www.LeaseExchange.com.
(The List: LeaseExchange.com (5/2001) hiring salesmen, Tom
Williams making it work, as he did at Paragon (4/2001) "on
a 'Slim Fast' diet." (3/2001) Tom Williams to give it a 90 day trial
run, also trying to raise money (2/2001) reported on "auto-pilot"
(1/2001) Closes Irving office, cuts staff Aaron Ross starts training
for Triathlon.
as a side
note: Tom Williams is now in Florida where he says his “old fashion”
operation is much more fun and less expensive to run, plus profitable)
-----------------------------------------------------------------------------------------------------------------------------
San Jose Mercury Leigh Weimers---April 15th
“I'm almost sorry I happened to read excerpts from David
Cay Johnston's Pulitzer Prize-winning book ``Perfectly Legal'' (Portfolio).
Until then, I'd been like a lot of us -- not looking forward to filing
income taxes this week but resigned to the task. Now, I'm still filing
but plenty perturbed.
“What particularly yanked my chain was this bit of info
from former Merc colleague Johnston, now a tax reporter for the New
York Times: In 1993, the richest Americans paid 30 cents on the dollar
in taxes to the feds. At the end of the Clinton administration, they
were paying 22 cents. And when the Bush cuts come in, they'll pay 17.5
cents. That means the super-rich have gotten a 41 percent reduction
in their tax burden from both Democrats and Republicans.
“Have you gotten a deal like that? Didn't think so. We're
not among the big-bucks contributors to the political parties who pay
for access to the ears of the folks who write the tax laws. And until
enough of us get mad enough to demand real campaign reform, we'll just
continue to be left outside and unheard. Something to think about when
you drop your return in the mail.
“Mad enough yet?”
Leasing News Advisor Armon Mills Accepts New Postion
Leasing News Advisory Board member Armon Mills, co-founder
of the Silicon
Valley Biz Ink and
publisher accepted an offer to become president and publisher of the
San Diego Business Journal. Biz Ink co-founder and media veteran Jim
Evers was named president and publisher of Biz Ink and will assume his
new role on May 1.
Mills remains a key investor and active member of the
publication's board of directors.
"My equity in Biz Ink and [sister publication] Valley
Scene remains in tact and I will continue to be one of the six managing
partners," Mills says.
The decision was based on an offer Mills received from
the San Diego paper, which he says was "too significant" and
ultimately too beneficial for his family for him to ignore.
"It came out of the blue," Mills says. "They
approached me with a very significant offer."
Leaving Biz Ink was as much about timing as opportunity,
he says.
"The hard work and dedication of our talented staff
have positioned both publications for long-term success," Mills
says.
Those in the community who know Mills were surprised
by the decision, but expressed support that the veteran publisher is
making a move that is so beneficial for his family.
The passing of the torch was supported by investors as
well, including Empire Broadcasting president Bob Kieve, who is also
on the Leasing
News Advisory Board.
"Armon's departure is a loss to our community, but
the new ties it will create for Biz Ink are a very substantial plus,"
Kieve says. "And I have the greatest faith in the ability of Jim
Evers to apply all the skills he demonstrated
in his broadcasting skills.”
Mills broke the news to Biz Ink and Valley Scene staffers
on Wednesday, emphasizing the opportunity it provides for him and his
wife, Sandy Mills.
He will remain on the Leasing News Advisory Board.
|
Leasing
News
|
|
|
Advisory
Board
|
|
| Bob Baker, CLP. | Wildwood Financial Group, Ellisville, Missouri |
| Edward Castagna | Nassau Asset Management, Roslyn Heights, NY. |
| Steve Crane | Bank of the West, Walnut Creek, CA. |
| Phil Dushay | Global Financial Services, Manhattan, NY. |
| Ken Greene, Esq. | Larkspur, California |
| Dan Janal | Great Teleseminars, Shorewood, Minnesota |
| Theresa M. Kabot, CLP | Kabot Commercial Leasing, Seattle, WA. |
| Robert S. Kieve | Empire Bradcasting, San Jose, CA. |
| Bruce Kropschot | Kropschot Financial Services, Vero Beach, FL. |
| Fred St. Laurent | Z Resource Group, Atlanta, GA. |
| Andrew Lea, M.A. | McCue Systems, Inc. Burlingame, CA. |
| Armon L. Mills, CPA | Silicon Valley Business Ink, San Jose, CA. |
| Steve Reid, CLP | Santa Barbara Bank & Trust, Santa Barbara, CA. |
| Bob Teichman | Teichman Financial Training, Sausalito, CA. |
| Paul B. Weiss | ICON Securities, New York, N.Y./San Francisco, CA. |
| Ginny Young | Brava Capital, Orange, CA. |
|
Publisher/Editor
|
|
| Christopher "Kit" Menkin | |
Classified Ads---Help Wanted
Accounting
 Accounting: PricewaterhouseCoopers seeks executives with experience in equipment leasing to help clients improve their leasing businesses by assessing "as is" conditions and designing and implementing solutions to operational issues. PwC also seeks CPA's with a broad based knowledge of FAS13 and familiarity with accounting for leases with simple and complex transaction structures. Email: anthony.g.anderson@us.pwc.com About the Company: PricewaterhouseCoopers, New York, NY. |
| Accounting: PricewaterhouseCoopers seeks individuals with experience in commercial equipment leasing to help clients improve their leasing businesses by designing, developing, and implementing solutions to accounting & operational issues. Email: anthony.g.anderson@us.pwc.com About the Company: PricewaterhouseCoopers, New York, NY. |
Credit and Documentation Administrator
|
About the Company: www.leasingpartnerscapital.com |
Middle Market Sales Representative
|
About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc |
Sales
|
About the Company: Dimension Funding, LLC Formed in 1979. Located on 17748 Sky Park Circle, Irvine, CA. 92614. Website: www.dimensionfunding.com |
Syndicator
|
About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc |
Title Clerk
|
About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc |
### Press Release##################################
Marlin Business Services Corp. Reports Payoff of Year
2000 Asset Backed Securitization Transaction
MOUNT LAUREL, N.J.----Marlin Business Services Corp.
(NASDAQ:MRLN) reported Marlin
Leasing Receivables III LLC, a wholly-owned subsidiary, exercised its
call option on the Series 2000-1 Equipment Contract Backed Notes and
retired the remaining outstanding debt.
The Series
2000-1 Notes were originally issued in September 2000 for a total of
$96.6 million at a weighted average coupon to investors of 7.96%. There
were approximately $9.4 million of bonds outstanding at the time the
call option was exercised.
The call successfully
completes the company's second asset-backed securitization note refinancing.
The company redeemed its Series 1999-2 Notes in January 2003. Marlin
Business Services Corp. has three remaining asset-backed securitization
transactions outstanding.
About Marlin
Business Services Corp.
Marlin Business
Services Corp. is a nationwide provider of equipment leasing solutions
primarily to small businesses. The company's principal operating subsidiary,
Marlin Leasing Corporation, finances over 60 equipment categories in
a segment of the market generally referred to as "small-ticket"
leasing (i.e. leasing transactions less than $250,000). The company
was founded in 1997 and completed its initial public offering of common
stock on November 12, 2003. Headquartered in Mount Laurel, NJ, Marlin
has regional offices in or near Atlanta, Chicago, Denver and Philadelphia.
For more information, visit www.marlincorp.com or call toll free at
888-479-9111.
CONTACT:Marlin Business Services Corp., Mount Laurel
Bruce Sickel, 888-479-9111 ext. 4108
### Press Release
################################
GATX Corporation To Sell Information Technology Leasing
Assets
(note: two press
releases, one from each company on their viewpoint)
CHICAGO--GATX Corporation (NYSE:GMT) announced that it has agreed to sell substantially
all the assets and related non-recourse debt of its information technology
(IT) leasing business, GATX Technology Services, to CIT Group Inc. The
transaction is expected to close by July 31, 2004. Terms of the transaction
were not disclosed.
The GATX Technology
assets being sold are expected to be approximately $520 million, 7%
of GATX's total assets. GATX currently expects cash proceeds from the
sale, net of non-recourse debt, to be in the range of $200 million.
Ronald H. Zech,
president and CEO of GATX Corporation, stated, "In recent years,
we have increasingly focused on our two largest businesses, railcar
and aircraft leasing, which comprise nearly 80% of our assets. Based
on what we believe will be growing and attractive investment opportunities
in these markets, we concluded that a sale of our IT leasing assets
is the right strategy for GATX and its shareholders.
"GATX
Technology is a solid business with bright prospects and a quality customer
base. However, IT leasing is most valuable to an organization that can
use it to complement an array of corporate finance products, including
mid- and small-ticket leases. This sale will enable us to capture that
value for our shareholders, while also strengthening our focus around
our franchise rail and air businesses."
GATX Corporation
was advised by JPMorgan on this transaction.
COMPANY DESCRIPTION
GATX Corporation
(NYSE:GMT) is a specialized finance and leasing company combining asset
knowledge and services, structuring expertise, partnering and capital
to serve customers and partners worldwide. GATX specializes in railcar,
locomotive, and aircraft leasing.
Investor, corporate,
financial, historical financial, photographic and news release information
may be found at www.gatx.com.
CONTACT:GATX Corporation Robert C. Lyons, 312-621-6633
or Rhonda S. Johnson, 415-955-3211
LIVINGSTON,
N.J-- CIT Group Inc.(NYSE: CIT) announced
that it has agreed to acquire substantially all of the assets
and related non-recourse debt of GATX Technology Services, a business
unit of GATX Corporation. The acquired assets approximate $520 million
and will become part of CIT's middle market leasing unit within the
Specialty Finance Group. The transaction is expected to close before
July 31,
2004. Terms were not disclosed.
Based in Tampa,
Fla., GATX Technology Services, a leading vendor-
independent information technology lessor in North America,
provides leasing solutions from the mainframe to the desktop and network.
"This
acquisition continues CIT's practice of selectively seeking 'bolt-
on' acquisitions in its core businesses to strengthen
our market-leadership
positions," said Jeffrey M. Peek, President and
COO of CIT.
Tom Hallman,
Vice Chairman, Specialty Finance, commented: "Our acquisition of
the GATX Technology Services assets strengthens our existing technology
financing capability, and supports our goal of maintaining a leadership
position in this important and constantly developing industry."
About CIT
Specialty Finance:
Specialty Finance provides global financing solutions
for commercial and
consumer customers of manufacturers, distributors, dealers
and brokers. Its
five divisions include Consumer, International, Major
Vendor Partners, Small
and Mid-Ticket Financing, and Small Business Lending.
About CIT:
CIT Group
Inc. (NYSE: CIT), a leading commercial and consumer finance
company, provides clients with financing and leasing
products and advisory
services. Founded
in 1908, CIT has nearly $50 billion in assets under
management and possesses the financial resources, industry
expertise and
product knowledge to serve the needs of clients across
approximately 30
industries. CIT,
a Fortune 500 company, holds leading positions in vendor
financing, U.S. factoring, equipment and transportation
financing, Small
Business Administration loans, and asset-based and credit-secured
lending.
CIT, with its principal offices in Livingston, New Jersey
and New York City,
has approximately 6,000 employees in locations throughout
North America,
Europe, Latin and South America, and the Pacific Rim.
For more information,
visit http://www.cit.com.
SOURCE CIT Group
Inc.
### Press Release ###################################
Walter
A. Dods, Jr. to Retire as C.E.O. at Year-End, but Remain as Chairman
of BancWest, First Hawaiian Bank; Don J. McGrath Will Become BancWest
Corporation C.E.O.
Donald
G. Horner Will Step Up to C.E.O. of First Hawaiian at Year-End
HONOLULU,
/ -- Walter A. Dods, Jr., 62, will retire as Chief Executive Officer
of BancWest Corporation and First Hawaiian Bank at the end of this year,
but will continue to serve as Chairman of both companies. BancWest Corporation,
a subsidiary of BNP Paribas, is a financial holding company whose main
subsidiaries are Bank of the West and First Hawaiian Bank.
Don
J. McGrath, 55, President and Chief Operating Officer of BancWest, will
continue as President and also succeed Dods as Chief Executive Officer
at year-end. McGrath will remain President and Chief Executive
Officer of Bank of the West, a position he has held since 1996.
"We
are delighted that Walter Dods has agreed to stay on as Chairman of
BancWest and First Hawaiian Bank. His
leadership, advice and wisdom have been vital in planning BNP Paribas'
growth in the Western United States," said Baudouin Prot, Chief
Executive Officer of BNP Paribas. "We
are also fortunate to have Don McGrath, a talented and experienced executive,
fully prepared to step right in as CEO as BancWest continues to grow."
McGrath
has been an executive with Bank of the West since 1980. On behalf of the bank, he negotiated the 1998
merger with First Hawaiian, Inc. which created today's BancWest Corporation.
"Don
has been involved in strategy, planning and management of BancWest from
the beginning. Nobody is better
equipped to lead our company into the future," Dods said.
A
native of Springfield, Illinois, McGrath received a B.S. in Marketing
from the University of Illinois in 1970 and an M.B.A., with honors,
in Finance from Boston University in 1973.
After experience with Illinois National Bank in marketing and
investment positions, McGrath joined Bank of the West's then parent
company, Banque Nationale de Paris (now called BNP Paribas), as Treasurer
of its Western U.S. operations in 1975.
He
was named Vice President and Treasurer of Bank of the West in 1980,
then served in various positions including Chief Financial Officer before
being named as a Director and Senior Executive Vice President &
Chief Operating Officer in 1988. He
was elected President of the bank in 1991, and became Chief Executive
Officer in 1996.
McGrath
is a public member of the Pacific Stock Exchange Board of Governors
and a member of its Compensation Committee.
He is active in community and industry affairs and serves on
the boards of the Nature Conservancy of California, Commonwealth Club
of California, Resources Legacy Fund, and Operation HOPE, Inc. As a Dominican University Trustee, he serves as Co-Chair of the
Finance Committee and as a member of the Executive Committee of the
Board. He is a past Trustee of the Alameda County
Retirement Fund and has served on the Board of the California Bankers'
Association.
Donald
G. Horner, a 25-year employee at First Hawaiian Bank, will continue
as President of First Hawaiian Bank and succeed Dods as Chief Executive
Officer. Horner, 53, began his banking career as a credit
analyst with First Hawaiian Bank in 1978 and steadily moved up the ranks
to positions of increasing responsibility, including President of its
First Hawaiian Leasing and First Hawaiian Creditcorp subsidiaries.
In
1994, he was named head of the Retail Banking Group, responsible for
all of First Hawaiian's consumer and business banking in Hawaii, Guam
and Saipan including the 61-branch network, business banking centers
and private banking. He was named President in January 2003.
"He's
an outstanding leader," Dods said of Horner. "He has been a success in every area of our bank. Don is more prepared to take over as CEO than
anyone in our bank's history."
Dods,
a leader of the banking industry in Hawaii and nationally, joined First
Hawaiian Bank in 1968. Over
the years, he worked his way through management in every part of the
bank -- marketing, consumer loans, auto loans, wholesale lending, retail
banking. He was named President in 1984 at the age of 43, one of the youngest
presidents in the nation for an institution its size. He has been Chairman and CEO of the bank and
its holding company since 1989.
When
he took over, First Hawaiian was a Hawaii-based company that earned
$57 million a year and had assets of $5 billion.
BancWest had earnings of $436 million in 2003 and now has $38.9
billion in assets and more than 350 branches in California, Hawaii,
Oregon, Washington, Idaho, Nevada, New Mexico, Guam and Saipan.
Completion of the upcoming acquisition of Community First Bankshares
will push BancWest's asset size to nearly $45 billion.
With
the Hawaii economy stuck in the doldrums during the 1990s, Dods took
First Hawaiian to the Mainland. In
1996, the company acquired branches in Oregon, Washington and Idaho
and formed a new Pacific One Bank subsidiary.
In
1998, he created today's BancWest Corporation by negotiating a merger
with Bank of the West in California, which had been a subsidiary of
France's Banque Nationale de Paris (BNP).
Pacific One Bank merged into Bank of the West, which has since
expanded into Nevada and New Mexico as well.
In
2001, the French bank, now known as BNP Paribas, bought out the rest
of BancWest's stock for $2.5 billion and BancWest became a wholly owned
subsidiary of BNP Paribas. In
2002, BancWest Corporation and BNP Paribas acquired United California
Bank -- the largest Los Angeles-based institution -- for $2.4 billion.
Last
month, BancWest agreed to acquire $5.5-billion asset Community First
Bankshares, Inc., whose Community First National Bank operates 155 branches
in 12 states in the Southwest, Rocky Mountains, Great Plains and east
to the Great Lakes. That transaction requires approval from Community
First shareholders and federal and state banking regulators. Once all regulatory approvals have been received,
the merger is expected to close during the third quarter of 2004, at
which time Community First branches will become part of Bank of the
West.
Dods
was 1996-97 president of the American Bankers Association. He also served a two-year term (1998-2000)
on the 12-member Federal Advisory Council to Chairman Alan Greenspan
and the Federal Reserve Board of Governors, advising the Fed on issues
related to the financial industry.
He is the Hawaii chairman of the Japan-Hawaii Economic Council.
Among
the corporate boards Dods serves on are Alexander & Baldwin, Inc.,
Matson Navigation Company, Inc., First Insurance Company of Hawaii,
Ltd., Grace Pacific Corporation and Pacific Guardian Life Insurance
Co., Ltd.
Dods
has spearheaded major fundraising efforts for Hawaii nonprofit organizations
and has been a director of numerous charities including the Coalition
for a Drug-Free Hawaii; The Nature Conservancy of Hawaii; East-West
Center Foundation; Hawaii Visitors Bureau; Hawaii Employers Council
and Aloha Council -- Boy Scouts of America.
He has also served as chairman of the Hawaii Visitors Bureau;
Blood Bank of Hawaii; and Honolulu Board of Water Supply.
About
BancWest: BancWest Corporation (www.bancwestcorp.com) is a financial
holding company with assets of $38.9 billion.
It is a wholly owned subsidiary of Paris-based BNP Paribas. BancWest is headquartered in Honolulu, Hawaii,
with an administrative headquarters in San Francisco, California. Its principal subsidiaries are Bank of the
West (295 branches in California, Oregon, New Mexico, Nevada, Washington
state and Idaho) and First Hawaiian Bank (61 branches in Hawaii, Guam
and Saipan).
. Investors may obtain a free copy of the proxy
statement and other relevant documents when they become available as
well as other materials filed with the Securities and Exchange Commission
concerning Community First and these individuals at the Securities and
Exchange Commission's website at http://www.sec.gov.
These materials and other documents may also be obtained for
free from: Community First Bankshares, Inc., 520 Main Avenue, Fargo,
North Dakota 58124, Attn: Investor Relations.
For
further information, please contact Gerry Keir of BancWest Corporation,
+1-808-525-7086, or +1-808-282-2768.
SOURCE BancWest Corporation
CO: BancWest Corporation; BNP Paribas; First Hawaiian
Bank; Bank of the West; Community
First Bankshares, Inc.
ST: Hawaii, California
###
Press Release ##################################
Lakeland
Bancorp Reports $3.6 Million in First Quarter Earnings
OAK RIDGE, N.J., / -- Lakeland Bancorp, Inc.
(Nasdaq:
LBAI) reported first quarter Net Income of $3.6 million, which was
Annualized
Return on Average Assets was 0.91% and Annualized Return on Average Equity
was 12.73% for the first quarter 2004.
Lakeland Bancorp also announced that it has
declared a quarterly cash
dividend
of $0.10 per common share. The cash dividend will be paid on May 14,
Roger Bosma, Lakeland Bancorp's President
and CEO said, "While our core
Shareholders
of both Newton and Lakeland have now formally approved the
merger.
In addition, Newton has agreed on a course of action necessary to
obtain
a declaratory judgment confirming that their currently outstanding
shares
are validly issued and outstanding. Past and present Newton
shareholders
have been notified and Newton has requested a court hearing in
May
2004 on the merits of its declaratory judgment."
Earnings
Net Interest Income
Net interest income for the first quarter
of 2004 was $13.6 million or 10%
higher
than the $12.3 million earned in the first quarter of 2003. Net
interest
margin was 3.86% compared to 4.49% in the first quarter of 2003,
primarily
reflecting a 67 basis point decline in the yield on interest earning
assets
due to the declining interest rate environment, and to a higher
proportion
of investment securities to total earning assets as deposit growth
outpaced
loan growth during 2003. The Company's average cost of interest
bearing
liabilities decreased 9 basis points from the first quarter of 2003
to
the
first quarter of 2004. This decline was due to a reduction in the yields
on
deposits partially offset by the cost of $56.7 million in trust-preferred
securities
funded in the latter part of 2003.
###
Press Release ################################
U.S.
Bancorp Equipment Finance Realigns Indirect Business to Better Serve
Customers
PORTLAND,
Ore. U.S. Bancorp Equipment
Finance, Inc., the unit of U.S. Bancorp that finances and leases business
equipment acquisitions, has realigned its structure to better serve
customers of its third-party sales or indirect business unit.
Effective
April 1, the activities of three formerly separate units ? the vendor
finance group, syndications buy desk and all broker originated business
? have combined under the Indirect Finance Group, led by Paul Frisch,
executive vice president of U.S. Bancorp Equipment Finance.
"The
move makes the unit more cohesive, resulting in greater efficiencies
and enhancing our ability to deliver Five Star Guaranteed Service to
the customer, which is core to the overall success of our company,"
said Bill Purcell, president and chief executive officer of U.S. Bancorp
Equipment Finance, Inc.
The
businesses that have come together are similar in that they all require
a high degree of customer and portfolio segregation and confidentiality,
utilize similar documentation fundamentals and disciplines, occasionally
require private label servicing and share common characteristics related
to underwriting and monitoring third-party sources of business.
Peter
Dess and Keith Wiencek will continue to buy syndicated business, Lou
Zangara and Deborah Paine will continue to serve the broker community,
all under the greater and more dedicated resources of the Indirect Finance
Group. Dennis Brooks moved to the Capital Equipment Group, where he
is more closely aligned with the sources of most of the syndication
sales business for U.S. Bancorp Equipment Finance.
U.S.
Bancorp (NYSE: USB), with assets of $189 billion, is the 7th largest
financial services holding company in the United States. The company
operates 2,282 banking offices and 4,472 ATMs in 24 states and provides
a comprehensive line of banking, brokerage, insurance, investment, mortgage,
trust and payment services products to consumers, businesses and institutions.
U.S. Bancorp is home of the Five Star Service Guarantee which assures
customers of certain key banking benefits and services or customers
will be paid for their inconvenience. U.S. Bancorp is the parent company
of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.
Contact:
Teri
Charest
U.S.
Bancorp Media Relations
800
Nicollet Mall, 23rd floor
Mail
Code BC-MN-H23K
Minneapolis,
MN 55402
(612)
303-0732 phone
(612)
303-0735 fax
###
Press Release ##############################
News Briefs
Tax
refunds aren't as hefty as expected
http://www.usatoday.com/money/perfi/taxes/2004-04-14-tax-refunds_x.htm
Mortgage
rates hit high for year/Leap to 5.89% may shift housing market
http://www.boston.com/business/globe/articles/2004/04/16/mortgage_rates
_hit_high_for_year/
U.S.
mortgage bonds slip but find buying support
http://www.absnet.net/include/showfreearticle.asp?file=/headlines/r.htm
UN
forecasts strong growth for world economy, warns US
Manufacturing
growth posted/Leap downplayed in jobless claims
http://www.boston.com/business/globe/articles/2004/04/16/manufacturing
_growth_posted/
Rise
in unemployment claims does not shake economists' belief that job market
is rebounding
http://www.signonsandiego.com/news/business/20040415-1455-economy.html
Citigroup
Net Is a Record $5.27 Billion For Quarter
http://www.nytimes.com/2004/04/16/business/16citi.html
IBM
Meets Forecast With $1.6B Earnings
http://www.washingtonpost.com/wp-dyn/articles/A16507-2004Apr16.html
Profitable
quarter for AMD/Chipmaker's sales increase by 73%
IPods
polish Apple profits/Firm's performance exceeds Wall Street expectations
Real
Seeks 'Tactical Alliance' with Apple
http://www.internetnews.com/bus-news/article.php/3340801
Idealism
in Search of a Plan---David S. Broder
http://www.washingtonpost.com/wp-dyn/articles/A13297-2004Apr14.html
Have team, will sail, need $35 million
America's Cup crew selling sponsorship, marketing rights
in priciest EBay auction
American Idol-In cased you missed it: Jon Peter Lewis
Voted Off
http://www.idolonfox.com/contestants/index.htm
http://www.americanidol2.com/forum/portal.php
---------------------------------------------------------------------------
Sports Briefs--
Sharks shake the Blues/ San Jose eliminates St. Louis
in 5 games
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/04/16/SHARKS.TMP
With best yet to come, 661 is ho-hum---by Skip Bayless
http://www.mercurynews.com/mld/mercurynews/sports/baseball/mlb/san_
francisco_giants/8427571.htm
QB McNair's DUI case still up in the air
http://tennessean.com/sports/titans/archives/04/04/49905184.shtml?
Element_ID=49905184
Denard Walker To Join Raiders
http://www.theredzone.org/news/showarticle.asp?ArticleID=1087
Mora returns to San Francisco for opener
http://www.mercurynews.com/mld/mercurynews/sports/football/8431939.htm
Walsh, now at Stanford, is drafted into duty again
http://www.mercurynews.com/mld/mercurynews/sports/football/nfl/san_
francisco_49ers/8436455.htm
NFL Dates:
Apr 24
NFL Draft
Apr 25
NFL Draft
Jun 12
World Bowl XII
Aug 8
Hall of Fame Inductions
Aug 31
Roster cutdown to 65
Sep 5
Roster cutdown to 53
California
Nuts Briefs---
Schwarzenegger packs film panel with stars, experience
http://www.mercurynews.com/mld/mercurynews/entertainment/
movies/8440655.htm
----------------------------------------------------------------------------------
“Gimme that
Wine”
California Gets In on the Pinot Noir Game
http://www.nytimes.com/2004/04/14/dining/14WINE.html
Napa? What about Sonoma?
Another reason to drink wine: Doctors blame
purine in beer for most gout flare-ups
Direct-shipping controversy swirls in the Northwest
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/
04/15/WIGEM64LR81.DTL
US 32nd in World Consumption of Wine/Wine
Institute aims to win over consumers
http://www.pressdemocrat.com/business/news/15wine_e1.html
Antinoris of Tuscany to Launch Second New Zealand Brand
http://www.winespectator.com/Wine/Daily/News/0,1145,2407,00.html
Wine Courses
http://wine.about.com/cs/classes/
New house rules
Modern maitre d's welcome diners back to the table
http://www.sfgate.com/cgi-bin/article.cgi?f=/chronicle/archive/2004/04/14/FDGJC633H91.DTL
------------------------------------------------------------------------------------
Note from Editor
Leaving tomorrow
for Kauai, Hawaii, otherwise known as Don Myerson
Country (the
BSB’s leaders home away from home.)
I am
going to try and write Leasing News during my vacation, so if the news
is more intermittent than usual, blame it on the Mai Tai’s.
Aloha.
Kit and Sue.
This
Day in American History
1813-the
first federal government mandated of factory standardization was made
with a contract specifying interchangeable parts.
The contract was with Colonel Simeon North of Berlin, CT.
The contract was for 20,000 pistols at $7 each to be produced
within five years. It stipulate that the “component parts of the
pistols are to correspond so exactly that any limb or part of one pistol
may be fitted to any other pistol of the 20,000”. Colonel North established his pistol factory in 1810 in Saddle Hill,
a suburb of Middletown. The
factory produced about 10,000 pistols a year.
1851
- The famous "Lighthouse Storm" raged near Boston Harbor.
Whole gales and gigantic waves destroyed Minot Light with its two keepers
still inside. The storm resulted in great shipping losses and coastal
erosion.
1861-
President Abraham Lincoln made a call for volunteers to serve three
months, the day after the surrender of Fort Sumter, South Carolina.
His call was for 75,000 volunteers.
The first regiment to respond to the call was the Ringgold Light
Artillery of Reading ,PA, known as the "First Defenders,"
commanded by Dr. John Keys. Their first engagement took place on September
24,1861, at Hanging Rocks, West Virginia. When men were not volunteering, a draft was called with a fee if
you did not join. More than one hundred thousand soldiers were hired
to fight for the North. Many of these were immigrants, expressly brought
over, says Shelby Foote,” by companies newly formed to supply the demand.”. More than eighty-five thousand Americans who
were drafted in the war got out of going by paying a $300 commutation
fee. Among these were banker J.P. Morgan and Theodore
Roosevelt, Sr., father of President Theodore Roosevelt. So many young
men with means remained civilians that northern universities were able
to enroll about as many students from the North during the war as they
had before when students came also from the South.
No doubt the people who stayed home later suffered guilt feelings,
but the fact is they did stay home.
And more than two hundred thousand Americans who joined the Union
Army subsequently deserted.( Sherby Foote, The Civil War: A Narrative(1863).
1863-
Congress abolished slavery in the District of Columbia. One million
dollars was appropriated to compensate owners of freed slaves, and $100,000
was set aside to pay district slaves who wished to emigrate to Haiti,
Liberia or any other country outside the US. http://memory.loc.gov/ammem/today/apr16.html
1869-the
first Consul who was African-American was Ebenezer Don Carlos Bassett,
consul general to Haiti, where he served from this date until November
27,1877.
1880
- A tornado near Marshall, MO, carried the heavy timbers of an entire
home a distance of twelve miles
1905-birthday
of Memphis “Piano” Red, Germantown, TN
1908-
Utah. Natural Bridges National Monument was established http://www.americansouthwest.net/utah/natural_bridges/national_monument.html
1911-birthday
of pianist Alton Purnell, New Orleans, LA http://www.interstatecd.com/bio/biopage.P+++++9465.html
1919-birthday
of Merce Cunningham, dancer, choreographer, born Centralia, WA. http://www.merce.org/
1924
Henry Mancini birthday. Born at Cleveland, OH, Mancini made his mark
in Hollywood composing film scores and songs. He won 20 Grammy Awards
and four Oscars (song "Moon River" and score for Breakfast
at Tiffany's; song "Days of Wine and Roses" for the film;
score for Victor/Victoria). He also composed The Pink Panther,
"Peter Gunn" and "Mr. Lucky" themes. Died June 14,
1994, at Beverly Hills, CA.
1929-
birthday of vocalist Ed Townsend, Fayetteville, TN
http://home.earthlink.net/~drbeetle/OurHistory.htm
http://www.amazon.com/exec/obidos/ASIN/B0000008V0/ref=ase_
avsearch-musicasin-20/002-9883931-7701629
1929-
The Yankees become first team to wear numbers on uniforms.
1930-Jazz
fluitist Herbie Mann Birthday
http://www.herbiemannmusic.com/
http://www.jimnewsom.com/HerbieMann.html
1935-birthdy
of singer Bobby Vinton, Canonsburg, PA.
1935-
On snowy day and near freezing day as the band plays Jingle Bells at
Boston's Braves Field, Babe Ruth makes his National league debut as
he homers and singles off Giants' legend Carl Hubbell. Although the
Braves beat New York,4-2, the team will go on to win only 37 more games
this season.
1937-birthday
of vocalist Artie “Blues Boy” White, Vicksburg, MS http://www.interstatecd.com/bio/biopage.P++++++573.html
1938-Gene
Krupa’s first big band debuts at Steel Pier, Atlantic City.
1940-
the first major league no-hitter baseball game on opening day; Bob Feller
of the American League Cleveland Indians retired 15 men in a row from
the fourth inning to the eighth inning against the Chicago White Sox.
1940-
On Opening Day, Franklin D. Roosevelt's errant ceremonial first pitch
smashes a Washington Post camera. The Chief Executive is not charged
with a wild pitch as Red Sox hurler Lefty Grove blanks the Senators,
1-0.
1947-birthday
of Lewis Ferdinand Alcindor,Jr., who later changed his name to Kareem
Abdul-Jabbar, great basketball play and Hall of Fame center, born New
York, NY.
1948
-The future super station WGN-TV televises a baseball game for the first
time. With Jack Brickhouse doing the play-by-play, the White Sox beat
the Cubs 4-1 in the first game of the Windy City Classic played at Wrigley
Field.
1962---Top
Hits
Johnny
Angel - Shelley Fabares
Good
Luck Charm - Elvis Presley
Slow
Twistin’ - Chubby Checker
She’s
Got You - Patsy Cline
1964-
The Mets new home, Shea Stadium, is christened with Dodgers' Holy Water
from the Gowanus Canal in Brooklyn and Giants' Holy Water from the Harlem
River at the location where it flowed passed the Polo Grounds.
1970---Top
Hits
Let
It Be - The Beatles
ABC
- The Jackson 5
Spirit
in the Sky - Norman Greenbaum
Tennessee
Bird Walk - Jack Blanchard & Misty Morgan
1972-Apollo
16: Astronauts John W. Young, Charles M. Duke, Jr and Thomas K. Mattingly
II (command module pilot) began an 11-day mission that included 71-hour
exploration of moon (Apr 20-23). Landing module (LM) named Orion.
Splashdown in Pacific Ocean within a mile of target, Apr 27.
1978
- St. Louis Cardinals pitcher Bob Forsch pitched a no-hitter beating
the Phillies 5-0. His brother, Ken, repeated the feat with the Houston
Astros a year later, making them the first brothers to throw major-league
no-hitters. Bob tossed a second no-hitter in September, 1983, to set
a record for Cardinal pitchers.
1978—Top
Hits
Night
Fever - Bee Gees
Stayin’
Alive - Bee Gees
Lay
Down Sally - Eric Clapton
Someone
Loves You Honey - Charley Pride
1978-at
the first US power-lifting championships held in Nasua, NH, Jan Todd,
a teacher from Nova Scotia, broke her own world record with a dead lift
of 453 ¼ pounds. Cindy Reinhoudt won the award for best lifter
after squatting 385 pounds, bench pressing 205 pounds and dead-lifting
385 pounds for a 975-pound total.
1979-the
first Coast Guard ship commander who was a woman was Lieutenant(j.g.)
Beverly Gwin Kelley, who was appointed to command the 95-foot cutter
Cape Newagen, with a crew of 14, based in Maalaea, Maui, HI. Her assignment
included search missions, boating safety, antipollution patrols, and
law enforcement.
1985
- Mickey Mantle, banned from baseball in 1983 because of his association
with an Atlantic City casino, was reinstated on this day. He threw out
the first pitch to a standing ovation as the New York Yankees played
their home opener against the Chicago White Sox.
1986---Top
Hits
Rock
Me Amadeus - Falco
Kiss
- Prince & The Revolution
Manic
Monday - Bangles
She
and I – Alabama
1987
- A slow moving storm system produced heavy rain over North Carolina
and the Middle Atlantic Coast States. More than six inches of rain drenched
parts of Virginia, and flooding in Virginia claimed three lives. Floodwaters
along the James River inundated parts of Richmond VA.
1996-the
Chicago Bulls became the first NBA team to win 80 games in the regular
season by defeating the Milwaukee Bucks, 86-90.
After this game, Chicago’s record stood at 70-9. The Bulls finished
the year at 72-10 and won their fourth NBA title in six years.
1997
-Extending their losing streak to 12 with a 4-0 loss to the Colorado
Rockies, Cubs set the record for worst start in league history surpassing
the overall NL record of 0-11 established by the Detroit Wolverines
1884.
Stanley
Cup Champions This Date
1939—Boston
Bruins
1949 Toronto Maple Leafs
19534 Montreal Canadiens
1954 Detroit Red Wings
1957 Montreal Canadiens
1961 Chicago Blackhawks.
Baseball
Poem
First
Time At Third
by
Jacqueline Sweeney ©
Published:
At The Crack Of The Bat (1992)
First
time at third
nothing
but nerves.
He
fist-whomps his glove,
tucks
in his shirt,
kicks
up the dirt
for
the twenty-fifth time.
Gets
in position
pumped
up to win,
ump
sweeps the plate.
Will
it ever begin?
A
quick-line drive!
He
leaps for the sky.
His
body's an arrow,
glove
aimed high.
What's
this?
He
stumbles,
he
tumbles to earth.
His
glove is still empty,
face
red as his shirt.
The
game hasn't started?
"Play
Ball!" can be heard
and
he's tried to snag
a
lowflying bird;
fastflying,
linedriving
feathers
and all.
How
could he think
that
a bird was a ball!
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
www.leasingnews.org |
 |
