Lender Asks Broker for Vendor Profile
How Unusual is This?

Leasing News received an inquiry from a long- time leasing company head:

“Without naming who, I received a vendor profile today from a lender asking the vendor to provide the usual information in additional to “What leasing companies do you work with?” “What is your volume with these leasing companies?

“And are you happy with the relationship with your current lese companies?”

"I mean really, so a vendor says “I do $5M a year with my lease company, no not happy” I am to assume that lender will call that vendor?

Your thoughts?

First, unless your broker agreement prohibits the vendor from calling your lessees or vendors for business, while you are still doing business with them. You have no idea of your protection.  Basically, it is continuing to do business with the lender.

In signing up for non-recourse or recourse business, it is not uncommon f to not only request financial statements, tax returns, but a background of funders you are working with.  In today’s practice, financial statements and tax returns are not often provided, but current sources used is very common.

As to contacting vendors, Paul Menzel years ago had a Credit Manager who required each submission to also have the vendor provide three of his competitors to contact.  In my relationship, I never had a problem with this. Also, I was told often by the submitting vendor that his competitors called him about it and let him know they gave him a good review.

It was Bernie Boettigheimer who started Lease Police on the concept that it was vendors who were bringing bad deals or playing games that caused most of the defaults and problems. He set the company up on this and grew the reporting on it. When his son John started Four Hour Funding, he had the same concept, but added only doing Equipment Finance Agreements so everything could be done on the internet,  including paying vendors and brokers very fast.

While there is no Lease Police today, there is the American Association of Commercial Finance Brokers that has a closed blog for members only where members can submit problems or occurrences.

I suggest if you are concerned with divulging such information, please join AACFB:  https://www.aacfb.org/membership-join/join

You can also share information at conferences of many leasing and finance associations about situation you have encountered.

Kit Menkin, Editor

Help Wanted Ads

[headlines]
--------------------------------------------------------------

Time with Decision Makers

Sales Makes it Happen by Scott Wheeler, CLFP

Originators in the commercial equipment finance and leasing industry are tasked with the responsibility of directly meeting and communicating with decision makers. How much time do originators (You) spend in direct communication with the decision makers of their (Your) vendors and end-users?

Additional quality time with decision makers will significantly increase an originator's production and her ability to maximize personal income. I often recommend:

• Originators measure their quality calls rather than just the number of calls that they make each day.
• Originators measure the amount of time they spend with decision makers when they are making in-person calls. If an originator spends two hours traveling to see just one vendor and only spends five minutes talking to a decision maker this is not the best use of her time.
• Originators measure the time spent with real decision makers during trade shows or conferences. Trade shows should be well planned to maximize the effectiveness of seeing the most decision makers - those who can maximize an originator's ability to increase production.

In the words of C.W.:
"If an originator wants to increase production, she needs to spend more time with decision makers who can use her services on a regular basis. It seems easy, but it requires daily dedication and perseverance."

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

Sales Makes it Happen articles:
http://www.leasingnews.org/Legacy/index.htm

[headlines]
--------------------------------------------------------------

CLFP Foundation Adds 16 New Members
Hosted by U.S. Bank Equipment Finance

The Certified Lease & Finance Professional (CLFP) Foundation is pleased to announce that 15 individuals who recently sat through the 8-hour online proctored CLFP exam, have passed.  They are:

Nicholas Balzer, CLFP
Credit Analyst
Vision Financial Group, Inc.

Megan Bystol-Olvera, CLFP
Credit Administration Analyst
John Deere Financial

Timothy Creasy, CLFP Associate
Assistant Credit Manager
Crossroads Equipment Lease & Finance LLC

Sylvianne Evans, CLFP
Operations Manager, Bank Markets
U.S. Bank Equipment Finance

Ryan Flores, CLFP
VP & Regional Sales Manager
Capital Equipment Finance
U.S. Bank Equipment Finance

Daniel Kvas, CLFP
Vice President
Falcon Equipment Finance, a division of Falcon National Bank

Jason Manthei, CLFP
Large Transaction Facilitator
U.S. Bank Equipment Finance

Ruth Martens, CLFP
Operational Risk Manager
U.S. Bank Equipment Finance

Crystal Murcha, CLFP
Lead, Relationship Management
Amur Equipment Finance

Jodie Schimek, CLFP Associate
Credit Analyst
Oakmont Capital Holdings, LLC

Jennifer Schreurs, CLFP
Pricing Analytics Manager
U.S. Bank Equipment Finance

Dakota Smith, CLFP
VP of Strategic Operations
Bevel Financial LLC

Steven Strozewski, CLFP
Vice President
U.S. Bank Equipment Finance

Amy Sumerfelt, CLFP
Credit Review Specialist
U.S. Bank Equipment Finance

Edgar Teniente, CLFP
Client Controller
Orion First Financial LLC

Ryan Flores, CLFP, VP & Regional Sales Manager, Capital Equipment Finance, attended the virtual Academy for Lease & Finance Professionals hosted by U.S. Bank Equipment Finance, stated,

“Many of my most respected peers in the Equipment Finance industry obtained their CLFP credential, which is a true testament to their expertise in this space.

“Continuing my education, diversifying my exposure to the various components and intricacies of Equipment Finance, and networking on a national scale with industry peers allows me to become a more effective and dynamic leader in this space.”

The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the commercial equipment finance industry. There are Certified Lease & Finance Professionals and Associates located throughout the United States (including Puerto Rico), Canada, India, Africa, and Australia. For more information, visit http://www.CLFPFoundation.org.

 

[headlines]
--------------------------------------------------------------

Companies with Three or More CLFP Members
1,164 total members with EIGHT More ALFPs Scheduled

First American Equipment Finance	141
U.S. Bank Equipment Finance	55
DLL	50
Key Equipment Finance	46
Ascentium Capital LLC	44
Oakmont Capital Holdings, LLC	29
The Huntington National Bank	29
Amur Equipment Finance	28
Financial Pacific Leasing, Inc.	28
Arvest Equipment Finance	27
AP Equipment Financing	26
Stearns Bank NA-Equipment Finance Division	21
Channel	17
KLC Financial, Inc.	17
North Mill Equipment Finance	16
Orion First Financial LLC	15
Northland Capital Financial Services, LLC	13
Odessa	13
Ivory Consulting Corporation	12
1st Source Bank	11
Fleet Advantage, LLC	11
Wintrust	11
Alliance Funding Group	10
ECS Financial Services, Inc.	10
Lease Corporation of America	10
Navitas Credit Corp.	10
Stryker	10
Canon Financial Services, Inc.	9
Great American Insurance	9
BancorpSouth Equipment Finance	8
BMO Harris	8
LTi Technology Solutions	8
Solifi	8
Beacon Funding Corporation	7
Crossroads Equipment Lease & Finance LLC	7
Quality Leasing Co., Inc.	7
Truist	7
GreatAmerica Financial Services	6
CoreTech Leasing, Inc.	5
Nexseer Capital	5
Tokyo Century (USA) Inc.	5
Univest Capital, Inc.	5
Cisco Systems Capital Corporation	4
Commercial Equipment Finance, Inc.	4
Falcon Equipment Finance	4
First Foundation Bank	4
FIS	4
Hanmi Bank	4
UniFi Equipment Finance, Inc.	4
Vision Financial Group, Inc.	4
APEX Commercial Capital Corp.	3
BankFinancial, NA	3
Commerce Bank	3
Commercial Capital Company, LLC	3
ENGS Commercial Finance Co.	3
First Commonwealth Bank	3
NCMIC Finance Corporation	3
Northteq, Inc.	3
Tamarack Technology, Inc.	3
Taycor Financial	3
TD Equipment Finance, Inc.	3
Thermo Fisher Financial Services	3
Western Equipment Finance	3

 

CLFP Day is August 25th
Call will be held on August 25th at 2:00 Pacific
Zoom link has been sent to all members

This year marks the 5th anniversary of CLFP Day in which CLFPs and Associates gather across the country to celebrate the designation. Past events have included charity drives, escape rooms, golfing, mini-golfing, dinner, coffee, drinks and much more.

Of course, during the pandemic, the meetups had to change so a quick, celebratory Zoom call was put together and will continue for the foreseeable future. The current President of the Board, Jenny Wood, CLFO, and the CEO of the Foundation, Reid Raykovich, CLFP, will review the journey of the Foundation, thank all of the volunteers, review the accomplishments for the year, and also present the Cindy Spurdle Award of Excellence.

Reid Raykovich, CLFP, CEO, states, “It’s my favorite day of the year. It’s amazing to see so many faces that I don’t get to see on a regular basis, and the excitement and joy to all celebrate together never gets old.” 

That call will be held on August 25th at 2:00 Pacific and the Zoom link has been sent to all members.

Additionally, due to the restrictions being lifted from the pandemic, the in-person celebrations are back and located across the country in 13 different cities.

All CLFPs and Associates are welcome to attend, and the locations may be found here: https://clfpfoundation.org/2022-clfp-day-celebrations

Half of All Banks in the U.S. Will Disappear
in the Next 20 Years

The number of banks have been declining at an average annual rate of over 3% since the late 1980s. The number of bank branches have mirrored this decline since 2013.

By Jeffry Pilcher, CEO of The Financial Brand,
with additional reporting by special contributor John Ginovsky

Over the last 40 years, some major historical events have rocked the US banking landscape, including the savings and loan crisis, and more recently, the mortgage meltdown that sparked the Great Recession. Along the way, there were also major technological developments like ATM cards and mobile banking that helped transform the industry in positive ways.

Nothing, however, had a more profound impact on the banking sector than the Great Depression. When the stock market crashed in 1929, there were over 25,000 banks in the US. By the end of the Great Depression, around 10,000 of them had failed.

This utter collapse of the banking system triggered monumental changes to the regulatory framework in the US, including the creation of the FDIC. Every year since 1935, the FDIC has released volumes of data about the banks they insure.

According to the FDIC’s data, the number of banks in the US held basically steady for 50 years. Between 1935 and 1987, the number of FDIC-insured institutions never fell below 13,000 and never rose above the 1983 peak of 14,469.

But then things started to change… with a downward trajectory. In the 10-year stretch from 1988 through 1998, the S&L crisis claimed roughly 5,000 banks among its victims. During this period, the number of banks contracted an average of 4% annually. Within a decade, one third of the banks in the US disappeared, dropping from 12,971 FDIC-insured institutions to 8,709.

Source: Financial Brand

 

[headlines]
--------------------------------------------------------------

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

ELFA Releases 2022 Software Guide
Highlighting Solutions for the Equipment Finance Industry

Washington, D.C. – The equipment finance industry has seen an explosion of technological advances in recent years. As firms seek to select new software solutions for their business—whether to increase efficiency or solve business challenges—the Equipment Leasing and Finance Association has released its 2022 ELFA Software Guide to assist in the decision-making process, open to members and non-members.

The 2022 ELFA Software Guide includes:

• Checklist for Evaluating Your Software Solution – What to consider when selecting software for your business, from defining your strategic goals to assessing the software’s flexibility to support growth.

• Look Ahead: Opportunities and Risks of New Tech Trends – A snapshot look at how equipment finance firms may respond to new opportunities—such as incorporating “emerging technologies” into sales and business operations to maintain a competitive edge—as well as threats, such as new cyber threats.

Access the 2022 ELFA Software Guide
Visit the ELFA website to access the 2022 ELFA Software Guide, including detailed listings for 19 software vendors and links to the latest ELFA technology resources:

• Browse the digital publication at https://www.mydigitalpublication.com/publication/?i=754877
• Download a PDF of the guide or search the online listing at https://apps.elfaonline.org/directories/software/

About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the nearly $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA has been equipping business for success for more than 60 years. For more information, please visit www.elfaonline.org.

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

Pekingese Mix
Oakland, California  Adopt-a-Dog

Yuki Kirby

Male
10 Years Old
12 lbs.
Housetrained
Great with other Dogs
Probably okay with cats
Prefers home without small children

My name is Yuki Kirby and I’m a 10 year-old Pekingese mix who weighs around 12lbs. I’m a very friendly little guy who enjoys the finer things in life like long naps in a pile of laundry, cuddle sessions, and short strolls. I’m also great with other dogs and would do great with a dog sibling,
but my foster thinks I’d be equally as happy being your one-and-only. I’m a pretty small and jolly little guy so I’d probably be okay with a cats, too.

Not much is known about my life before coming to Rocket Dog but it seems like I didn’t have the best care. My skin was super dry and I lost a lot of the hair on my back. I’ve been eating a healthy diet and taking my fish oil and now my long luxurious hair is starting to grow back!

Rocket Dog Rescue
3561 Foothill Blvd,
Oakland, CA 94601
(415) 756-8188
info@rocketdogrescue.org
https://www.rocketdogrescue.org

[headlines]
--------------------------------------------------------------

“Sitting on the Dock of the Bay" with Ken Greene
Comments from Readers

“Great article in Leasing News today, I’ve already been sharing it. Looking forward to hearing about your next steps there.”

John Turnacliff
Golden Gate Equipment Finance

-----------

“This is an interesting article, for me because I was a part of that music scene in San Francisco in the late 60's- early 70,'s. I recorded some tracks for John Lennon’s manager, met and sang Journey songs, performed all over the San Francisco Bay Area including The Filmore where we opened for Hot Tuna. Sang “Dock of the Bay” in various clubs, including the Playboy club in San Francisco. Performed Fleetwood Mac, and Santana songs as well as Grateful Dead.

“Rehearsed and played a gig at the Art College in Sausalito, played at the Lion Share in Marin, which was one of Janis Joplin’s favorite clubs.

“Rehearsed in the same studio with Ronnie Montrose and watched as he put together one of his classic songs, "Rock Candy". Sammy Hagar was his lead singer.

“I'm also good friends with Bill Church who along with Ronnie played on Van Morrisons' albums. I heard Metallica’s demo tapes before they got signed.

“So you see that article you sent me brought back a lot of memories.”

-Ron Barron

----------

“Thanks Kit and Ken for sharing your article.”

Respectfully,

Gary Anderson,
CNG Leasing

Sitting on the Dock of the Bay" with Ken Greene
By Kit Menkin and Ken Greene, Legal Editor
The Sausalito Music Factory"
https://leasingnews.org/archives/Aug2022/08_15.htm#sitting

News Briefs---

U.S. manufacturing production accelerates in July
    rebounded 0.7% after declining 0.4% in June
https://www.reuters.com/markets/europe/us-manufacturing-production-accelerates-july-2022-08-16/

Apple pushes Bay Area employees into
    stringent return-to-office plan
https://www.sfgate.com/bayarea/article/apple-pushes-return-to-office-17377296.php?IPID=SFGate-HP-CP-Spotlight

Seattle’s rising Kia car thefts linked to TikTok
    videos, police say
https://www.seattletimes.com/seattle-news/seattles-rising-kia-car-thefts-linked-to-tiktok-videos-police-say/

Gannett Lays off Hundred, Maybe More Journalists  
    after dismal second quarter results
https://www.poynter.org/business-work/2022/gannett-lays-off-journalists-after-dismal-second-quarter-results/

[headlines]
--------------------------------------------------------------

You May Have Missed---

Dog Reportedly Contracts Monkey Pox
    from Owners
https://nypost.com/2022/08/14/dog-reportedly-contracts-monkeypox-from-owners/

[headlines]
--------------------------------------------------------------

Sports Briefs---

Tiger Woods to meet with top players against LIV Golf
https://www.pressdemocrat.com/article/sports/ap-sources-tiger-woods-to-meet-with-top-players-against-liv-golf/

Someone sent Aaron Rodgers a bust of 'Nicolas Cage,'
and it's on display in Packers QB's locker
https://www.usatoday.com/story/sports/nfl/packers/2022/08/16/aaron-rodgers-packers-quarterback-bust-actor-nicolas-cage-locker/10344499002/

[headlines]
--------------------------------------------------------------

California Nuts Briefs---

Feds order Arizona, Mexico, and Nevada to cut water us
     as Colorado River levels drop to historic lows
https://www.latimes.com/environment/story/2022-08-16/colorado-river-basin-states-fail-to-reach-drought-agreement

Locals part of team trying
to extend battery life, reduce waste
https://www.pressdemocrat.com/article/news/benefield-locals-part-of-team-trying-to-extend-battery-life-reduce-waste/

Netflix puts an entire Long Time Los Gatos, Ca. campus up
for sublease amid turbulent year
https://www.sfgate.com/bayarea/article/Netflix-subleases-Los-Gatos-offices-17374369.php

[headlines]
--------------------------------------------------------------

"Gimme that wine"

12 Reasons to Love California Chardonnay
     By Eric Asimov
https://www.nytimes.com/2022/08/16/dining/drinks/wine-review-california-chardonnay.html

10 best winery hotels in the United States
https://www.10best.com/interests/hotels-resorts/10-best-winery-hotels-united-states-readers-choice-awards-2022/

Walla Walla for wine lovers
- Elaine Chukan Brown, jancisrobinson.com
https://www.jancisrobinson.com/articles/walla-walla-wine-lovers

YouTube wine star tastes 100-year-old First Growth Bordeaux
https://www.thedrinksbusiness.com/2022/08/youtube-wine-star-tastes-100-year-old-first-growth-bordeaux/

“Gimme that Wine”
http://www.youtube.com/watch?v=EJnQoi8DSE8

Free Wine App
https://www.nataliemaclean.com/mobileapp/

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

This Day in History

      1585 - The Roanoke Island colony, sponsored by Sir Walter Raleigh, was established on Roanoke Island, off the northeast coast of what is now North Carolina, under the leadership of Sir Richard Gren­ville and Sir Ralph Lane. The settlers fared badly and returned to England in June of 1586. In 1587, Raleigh sent out another group, under John White, consisting of 117 men, women, and children. White returned to England for supplies but was unable to get back to Roanoke until Aug. 17, 1590. He found all the colo­nists gone; the only clue to their fate was the word Croatoan carved on a tree. The meaning of this remains unexplained and no trace was ever found of the settlers.
    1635 - English Puritan Richard Mather, 39, first arrived in Boston. A staunch defender of the congregational form of church government, Mather is remembered today for founding the "dynasty" to which was born his son Increase Mather in 1639, and his grandson Cotton Mather in 1663.
    1735 - Evening Post began publishing, Boston, by T. Fleet.
    1786 - American Frontiersman Davy Crockett was born at Hawkins County, TN, then a part of North Carolina. He died during the final heroic defense of the Alamo, March 6, 1836, at San Antonio, TX. In his autobiography, 1834, when he was a congressman, Crockett wrote, “I leave this rule for others when I am dead. Be always sure you’re right—then go ahead.”  Crockett served two separate terms in the House, representing Tennessee.
    1788 - Losantville, OH (now Cincinnati), was founded.
    1790 - First presidential declaration of the free and equal status of Jewish-American citizens.
http://memory.loc.gov/ammem/today/aug17.html
    1807 - Robert Fulton began the first American steamboat trip between Albany and New York, New York. He revolutionized transportation and the growth of the country, but was laughed at for his invention. The US Minister of France, Robert R. Livingston, raised money to allow Fulton to design and construct his “steamboat” in France. He launched his proto-type on the Seine in 1803. He then secured exclusive rights to operate steamboats on the New York waters. The first Albany-to-New York trip took 32 hours to travel the 150-mile course. Although his efforts were labeled “Fulton’s Folly” by his detractors, his success allowed the partnership to begin commercial services. Fulton became a wealthy man, but when his exclusive contract was up, he lost most of his business to Cornelius Vanderbilt, who parlayed his capital into banks, railroads and real estate. Excellent book at
www.amazon.com, “The Vanderbilts and the Story of Their Fortune” by W. A. Croffut (Hardcover - June 1975). I also recommend the next time you are either in Chicago or New York to take a “river” trip to not only see
architecture and historical landmarks, but to understand why these cities grew, primarily due to their water access, and by understanding the Ferry between New York and New Jersey and other states, you can understand how Vanderbilt became a multi-millionaire.  He built a monopoly by undercutting his competition, and when they went out of business, he raised his prices and was basically the only game in town.
    1809 - In Pennsylvania, Thomas Campbell, 46, and his son Alexander, 20, formed the American Movement for Christian Unity, which later became the Disciples of Christ Church.
    1846 - U.S. fleet officer Robert F Stockton annexed California after capturing it from Mexico during the Mexican War.
    1858 – The first bank in Hawai’i opened.
    1859 – The first air mail, in a balloon, took off from Lafayette, IN.
    1862 - Minnesota erupts in violence as desperate Dakota Indians attack white settlements along the Minnesota River. The Dakota were eventually overwhelmed by the U.S. military six weeks later. The Dakota Indians were more commonly referred to as the Sioux, a derogatory name derived from part of a French word meaning "little snake." They were composed of four bands, and lived on temporary reservations in southwestern Minnesota. For two decades, the Dakota were poorly treated by the Federal government, local traders, and settlers. They saw their hunting lands whittled down, and provisions promised by the government rarely arrived. Worse yet, a wave of white settlers surrounded them. The summer of 1862 was particularly hard on the Dakota. Cutworms destroyed much of their corn crops, and many families faced starvation. Skirmishes and war then developed. Over 500 white settlers lost their lives along with about 150 Sioux warriors. President Lincoln dispatched General John Pope, fresh from his defeat at the Battle of Second Bull Run, to organize the Military Department of the Northwest. Some Dakota fled to North Dakota, but more than 2,000 were rounded up and over 300 warriors were sentenced to death. President Lincoln commuted most of their sentences, but on December 26, 1862, 38 Dakota men were executed at Mankato, Minnesota. It was the largest mass execution in American history.
    1862 - Major General J.E.B. Stuart was assigned command of all the cavalry of the Confederate Army of Northern Virginia.
    1885 – Amos, in extreme southeastern California, hit 130 to set the August U.S. record high.
    1887 - Birthday of Marcus (Moziah or Mosiah) A Garvey (1887-1940), St. Ann’s Bay, Jamaica, well-known Black leader of the “Back to Africa” movement.
http://search.eb.com/blackhistory/micro/227/63.html
http://www.finalcall.com/perspectives/m_garvey8-17-99.html
http://www.africawithin.com/garvey/garvey.htm
    1893 - Birthday of Mae West (1893-1980) in Brooklyn.  US burlesque, stage, radio, and movie star who specialized in double-entendre and sensuality. She had a regal bearing and her wisecracks were legend. She was sexual and was proud of it. She was once arrested for "corrupting" youth for her stage work. One of the problems was not the throw of the hips or the sexual comments, but her very strong woman roles. She was in charge of her life, her sexuality, and men went to her. Her personal life mirrored her public presentation. During World War II, the inflatable life jacket was named after her because of its large curves. She starred in vaudeville and on Broadway for a number of years. She made 11 motion pictures including “She Done Him Wrong” (1933) and “My Little Chickadee” (1940). She was pure camp. Her autobiography is “Goodness Had Nothing to Do With It” (1959). She invested in real estate, especially in Hollywood and became a very, very wealthy woman. Some of the famed "wise-cracks" of Mae West who never married:
"Give a man a free hand and he'll run it all over you."
"He who hesitates is last."
"I only like two kinds of men: foreign and domestic."
"I feel like a million tonight, but one at a time."
"It's not the men in your life who count. It's the life in your men."
"So many men, so little time."
"I've been in more laps than a napkin."
"Come up and see me sometime....."
"When I'm good, I'm very, very, good, but when I'm bad, I'm better."
"She's the kind of girl who climbed the ladder of success wrong by wrong."
"When a girl goes bad - men go right after her."
"I generally avoid temptation unless I can't resist it."
"I've been rich and I've been poor. Believe me, rich is better."
"It's better to be looked over than overlooked."
"I wrote this story myself, It's all about a girl who lost her reputation, but never missed it."
    1894 - Skookum Jim and Tagish Charlie, members of the Tagish First Nations people, and George Carmack found gold in the Yukon, Canada, starting what became known as the Klondike Gold Rush. The three men were prospecting in Rabbit Creek (which they renamed Bonanza), a tributary of the Klondike River, when they made their discovery. Over 100,000 people stampeded to the Yukon in search of gold.
    1897 - WB Purvis patented the electric railway switch. Among the black inventor’s patents was the first fountain pen, patented bag machines, a bag fastener, a hand stamp, and the edge cutter for such products as aluminum foil, wax paper, cling wrap.
    1903 - The first Pulitzer Prize was awarded, when Joseph Pulitzer contributed a million-dollar donation to Columbia University providing the funds for the Pulitzer Prize awards made in his name.
    1906 - Birthday of Hazel Gladys Bishop (1906-98) in Hoboken, NJ.  U.S. inventor, chemist, business tycoon. While employed as an organic chemist for Standard Oil she conducted a series of home experiments to develop a lipstick that stayed on the lips and didn't smear to everything else they touched. In 1950, she formed the Hazel Bishop, Inc. Later she formed Hazel Bishop Laboratories which developed a series of home care products. A partner forced her out of the $10 million company she created and then, through court action, forbade her from using her own name in her future careers or in personal appearances. She became financial analyst for Evans & Company and Bache and Company with her opinions actively sought on matters of the burgeoning cosmetics business. In 1978, she became an adjunct professor at the Fashion Institute of Technology in Manhattan specializing in training students for careers in cosmetics.
    1907 – Pike Place Market, a popular tourist destination and registered historic district in Seattle, opened.
    1908 – From the ashes of the great earthquake and fires, the Bank of Italy opened its new HQ at Clay and Montgomery in San Francisco.
    1909 - Bandleader Larry Clinton (1909-85) was born in Brooklyn, NY.
    1915 - Dayton, Ohio resident Charles F. Kettering patented the electric automobile self-starter.
    1915 - Mob lynches Jewish businessman Leo Frank in Cobb County, Ga after death sentence for murder of 13-year-old girl commuted to life.
http://www.crimelibrary.com/classics/frank/
http://www.cviog.uga.edu/Projects/gainfo/leofrank.htm
http://www.leofranklynchers.com/
    1915 - A hurricane hit Galveston, TX, with wind gusts to 120 mph and a twelve foot storm surge. The storm claimed 275 lives, including forty-two on Galveston Island, with most deaths due to drowning. Of 250 homes built outside the seawall (which was constructed after the catastrophic hurricane of 1900), just ten percent were left standing.
    1918 - Tenor sax player Ike Quebec (d. 1963) was born Newark, NU.
    1918 - Samuel Riddle bought Man o'War, one of racing’s great horses, for $5,000.  
    1920 - Cleveland shortstop Ray Chapman (1891-1920) dies as a result of being hit the day before by a pitch thrown by Yankee submariner Carl Mays. The tragedy remains the only on-field fatality in Major League history.  The sound of the ball smashing into Chapman's skull was so loud that Mays thought it had hit the end of Chapman's bat, so he fielded the ball and threw to first base.  His death led to Major League Baseball establishing a rule requiring umpires to replace the ball whenever it became dirty, and it was partially the reason the spitball was banned after the 1920 season. Chapman's death was also one of the examples used to emphasize the need for wearing batting helmets (although the rule was not adopted until over 30 years later).
    1920 - Bassist George Duvivier (1920-85) was born in NYC.
    1933 – Lou Gehrig, on the way to a record of 2,130, played in his 1308th consecutive game to break the Major League record held by Everett Scott.  Gehrig’s consecutive games-played streak was the record until 1995 when Cal Ripken, Jr of the Baltimore Orioles broke it on the way to the current record of 2,632.
    1939 - The magical "Wizard of Oz," the first movie to combine the uses of black and white, and color film, premiered. It starred Judy Garland as Dorothy Gale; Bert Lahr as both the Cowardly Lion and Zeke; Ray Bolger as the Scarecrow and Hunk; and Jack Haley as both the Tin Woodsman and Hickory. Buddy Ebsen originally cast as the Tin Man; but sickness forced him to leave the production before its completion. The movie was based on L. Frank Baum’s 1900 "The Wonderful Wizard of Oz," which had previously adapted into a musical play. The Hollywood version, directed by Victor Fleming, won an Oscar for best movie score (Harold Arlen and E.Y. ‘Yip’ Harburg), and for best song, "Somewhere Over the Rainbow."
    1939 - The markets came down with a case of the war jitters. World War II was a few weeks from officially starting, but Wall Street could smell trouble brewing. After refusing U.S. requests to enter into peace agreements and breaking a non-aggression pact with Poland, Hitler had readied his troops to seize the Polish port city of Danzig. The markets reacted to these overtures by posting their biggest decline since July. Bond ratings followed suit, prompting fears that the troubles in Europe would torpedo whatever progress the American economy had made since the Depression.
But Wall Street's misgivings were otherwise misplaced: the war helped kick-start the American economy, pushing it from a lingering Depression-era funk into a prolonged state of abundance.
    1943 - On CBS radio, writer Norman Corwin’s first success "Passport for Adams" debuted. It starred Robert Young, who played a small town newspaper editor. Corwin would go on to have many radio successes including radio classics: "This is War," "An American in England" and "We Hold These Truths" all of which he wrote and produced.
    Lieutenant General George S. Patton and his 7th Army arrive in Messina, Sicily before British General Bernard Law Montgomery and his 8th Army, winning the unofficial "race to Messina," and completing the Allied conquest of Sicily.
    1944 - BENDER, STANLEY, Medal of Honor.
Rank and organization: Staff Sergeant, U.S. Army, Company E, 7th Infantry, 3d Infantry Division. Place and date: Near La Lande, France, 17 August 1944. Entered service at: Chicago, 111. Born: 31 October 1909, Carlisle, W. Va. G.O. No.: 7, 1 February 1945. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty. On 17 August 1944, near La Lande, France, he climbed on top of a knocked-out tank, in the face of withering machinegun fire which had halted the advance of his company, in an effort to locate the source of this fire. Although bullets ricocheted off the turret at his feet, he nevertheless remained standing upright in full view of the enemy for over 2 minutes. Locating the enemy machineguns on a knoll 200 yards away, he ordered 2 squads to cover him and led his men down an irrigation ditch, running a gauntlet of intense machinegun fire, which completely blanketed 50 yards of his advance and wounded 4 of his men. While the Germans hurled hand grenades at the ditch, he stood his ground until his squad caught up with him, then advanced alone, in a wide flanking approach, to the rear of the knoll. He walked deliberately a distance of 40 yards, without cover, in full view of the Germans and under a hail of both enemy and friendly fire, to the first machinegun and knocked it out with a single short burst. Then he made his way through the strong point, despite bursting hand grenades, toward the second machinegun, 25 yards distant, whose 2-man crew swung the machinegun around and fired two bursts at him, but he walked calmly through the fire and, reaching the edge of the emplacement, dispatched the crew. Signaling his men to rush the rifle pits, he then walked 35 yards further to kill an enemy rifleman and returned to lead his squad in the destruction of the 8 remaining Germans in the strong point. His audacity so inspired the remainder of the assault company that the men charged out of their positions, shouting and yelling, to overpower the enemy roadblock and sweep into town, knocking out 2 antitank guns, killing 37 Germans and capturing 26 others. He had sparked and led the assault company in an attack which overwhelmed the enemy, destroying a roadblock, taking a town, seizing intact 3 bridges over the Maravenne River, and capturing commanding terrain which dominated the area.
    1944 - Top Hits
“I’ll Be Seeing You” - Bing Crosby
“Amor” - Bing Crosby
“Milkman, Keep Those Bottles Quiet” - Ella Mae Morse
“Is You is or is You Ain’t (Ma’ Baby)” - Louis Jordan
    1945 – Korea divided at the 38th parallel with the US occupying the south.
    1948 - An estimated crowd of nearly 100,000 fans pass by the body of Babe Ruth which is on display at Yankee Stadium following his death from cancer the day before.  His funeral Mass took place at St. Patrick’s Cathedral; a crowd estimated at 75,000 waited outside. Ruth was buried at the Gate of Heaven Cemetery, Valhalla, NY.
    1950 - No. 1 Billboard Pop Hit:  “Goodnight Irene”, Gordon Jenkins Orchestra & the Weavers.
    1950 – The Hill 303 Massacre:  41 American POWs were shot to death by the N. Korean Army.
    1952 - Top Hits
“Walkin’ My Baby Back Home” - Johnnie Ray
“Auf Wiedersehn, Sweetheart” - Vera Lynn
“Half as Much” - Rosemary Clooney
“A Full Time Job” - Eddy Arnold
    1953 – Narcotics Anonymous co-founded by Jimmy Kinnon, held its first meeting, near LA.
    1954 - In Rhode Island, the Newport Jazz Festival opened at the Newport Casino. The festival featured jazz legends Dizzy Gillespie, Gerry Mulligan and Ella Fitzgerald.
    1955 - Hurricane Diane, following Hurricane Connie, floods Connecticut River, killing 190 and causing $1.8 billion damage
http://www.erh.noaa.gov/er/nerfc/historical/aug1955.htm
    1956 - Shelly Manne, with Previn and Vinnegar, cuts jazz version of “My Fair Lady.” I used to see them in person at the Lighthouse in Hermosa Beach, every weekend I could when I went to high school.  They made one of the best jazz albums in history.
    1957 - Richie Ashburn, Phillies Hall of Fame CF, hit fan Alice Roth twice in same at bat with foul balls.  The first one broke her nose, and the second hit her while she is on the stretcher.
    1958 – Pioneer 0, America's first attempt at lunar orbit, was launched using the first Thor-Able rocket and failed. This is also notable as one of the first attempted launches beyond Earth orbit by any country.
    1958 - Belinda Carlisle is born in Hollywood. She becomes the lead singer of the all-female group the Go-Go's and has a solo No. 1 hit in 1987 with “Heaven Is a Place on Earth.”
    1959 – Quake Lake was formed by the magnitude 7.5 Hebgen Lake earthquake in Montana.
    1960 - Top Hits
“It’s Now or Never” - Elvis Presley
“Walk--Don’t Run” - The Ventures
“Walking to New Orleans” - Fats Domino
“Please Help Me, I’m Falling” - Hank Locklin
    1960 - The Beatles begin the first of forty-eight nights playing the Indra Club on Grosse Freiheit in Hamburg, Germany, playing for four-and-a-half hours every day (six on the weekends), an arrangement that leads to twenty-minute versions of songs like Little Richard's "Long Tall Sally." Notable as the first time the group performed under the name "The Beatles" (having dropped the "Silver" from their name en route), the gigs feature John Lennon yelling at the German audiences, calling them Nazis, shouting "Sieg Heil!" at them, and wearing outlandish outfits -- at one point appearing on stage in only his underwear, at another with a toilet seat around his neck.
    1961 - Birthday of American Composer David "Uncle Dave" Lewis in Cincinnati, Ohio.  Radio programmer on WAIF-Radio, Cincinnati and co-founder of the still-active "Art Damage" radio program begun in 1985, devoted to experimental music. He is a music expert and author of hundreds of articles on music and musicians, mostly published by the All Music Guide 2001-present, however also for ARSC Journal, WAIF Alert, WCBN Program Guide, www.redhotjazz.com and others
    1961 – The construction of the Berlin Wall began.
    1962 - L.A. County Coroner officially labels Marilyn Monroe's death a "probable suicide." Norman Mailer, author of “The Naked & the Dead” subsequently theorized she was murdered, partly on the grounds that "it is extremely rare for a woman to commit suicide in the nude." Rumors that she was both acquainted with John F. Kennedy, and was in love with Bobby Kennedy, who the night before told her he could not continue to see her, were alleged as the reason she committed suicide.  However, this is from the Cal Neva Resort website: During the Sinatra ownership years of 1955 to 1968, along with his associates "Wingy" and "Skinny," Sinatra built the now famous Celebrity Showroom and installed a helicopter pad on the roof in an attempt to make access easier for his colleagues and guests appearing at the Cal Neva during summer months. Hollywood followers were enamored with Sinatra and the "Rat Pack," an unforgettable fraternity that linked itself with the White House through Peter Lawford, brother-in-law of the then-President John F. Kennedy. Dean Martin, Sammy Davis, Jr., Juliet Prowse and Marilyn Monroe (among others) "sang for their suppers" in the Celebrity Showroom and the Indian Room while politicians and Hollywood stars played at the tables and in the private cottages overlooking Lake Tahoe. Marilyn Monroe was a frequent guest of the Lodge and scandal generally surrounded her because of the "alleged" secret rendezvous with John F. Kennedy. Then, when the presence of one particular guest, mobster Sam Giancana of Chicago, was noticed by authorities, it finally cost Sinatra his gaming license in a losing battle with the Nevada Gaming Control Board.
    1962 - A riot broke out during a Gary U.S. Bonds performance at the Boston Arena.
    1962 – Ringo Starr replaced Pete Best as the drummer of The Beatles.
    1963 – Current and former Raiders’ Head Coach Jon Gruden’s birthday in Sandusky, OH.  After coaching the Oakland Raiders from 1998-2001, he was traded to the Tampa Bay Buccaneers by Raiders owner Al Davis for four first and second round draft picks and $8 million.  The Bucs defeated the Raiders in the next Super Bowl, 48-21, making Gruden the youngest NFL head coach to win the Super Bowl at age 36.
    1966 - Psychedelic fashion show and tarot reading at the SF Fillmore. The Jefferson Airplane and Mimi Fariña entertained.
    1967 – Gary Puckett and The Union Gap record "Woman Woman." The song would break first in Cleveland in November and would rise to number four on the US national charts.
    1968 - Deep Purple's "Hush" is released in the US, where it will climb to #4 by mid-September.
    1968 – “People Got to Be Free,” the hit single by The Rascals, rocketed into the top slot on Billboard's record charts and stayed there for 5 weeks.
    1968 - Top Hits
“People Got to Be Free” - The Rascals
“Born to Be Wild” - Steppenwolf
“Light My Fire” - Jose Feliciano
“Heaven Says Hello” - Sonny James
    1969 – Third day of Woodstock: Richie Havens, Jefferson Airplane, Grateful Dead, Crosby, Stills, Nash and Young, Creedence Clearwater Revival, The Who, The Band, Janis Joplin, Jimi Hendrix.
    1969 - Donny Wahlberg, one time member of New Kids on the Block and current star of CBS’ “Blue Bloods,” was  born in Dorchester, MA. His younger brother is former rapper/current actor Mark Wahlberg, who had a top 10 hit in 1991-92 with the million-selling single, “Wildside.”
    1969 - Camille, the second worst hurricane in U.S. history, smashed into the Mississippi coast. Winds gusted to 172 mph at Main Pass Block, LA and to 190 mph near Bay Saint Louis, MS. The hurricane claimed 256 lives, and caused $1.3 billion in damage. Several ocean going ships were carried over seven miles inland by the hurricane. The hurricane produced winds to 200 mph, and a storm surge of 24.6 feet. Complete destruction occurred in some coastal areas near the eye of the hurricane.
    1973 - At Shea Stadium, 42-year old New York Mets' outfielder, Willie Mays, hits his 660th and final home run of his career off Reds' lefty Don Gullett.  Mays would retire later that season with the third highest HR total, to Henry Aaron’s 755 and Babe Ruth’s 714.
    1974 - Bad Company's "Can't Get Enough" is released.
    1975 - No. 1 Billboard Pop Hit: “Fallin' in Love,” Hamilton, Joe Frank & Reynolds.
    1976 - Top Hits
“Don’t Go Breaking My Heart” - Elton John and Kiki Dee
“You Should Be Dancing” - Bee Gees
“Let ’Em In” -Wings
“Say It Again” - Don Williams
    1977 - The day after Elvis Presley's death, President Jimmy Carter issues the following statement: "Elvis Presley's death deprives our country of a part of itself. He was unique and irreplaceable. More than twenty years ago, he burst upon the scene with an impact that was unprecedented and will probably never be equaled. His music and his personality, fusing the styles of white country and black rhythm and blues, permanently changed the face of American popular culture. His following was immense and he was a symbol to people the world over, of the vitality, rebelliousness and good humor of his country." Or as James Brown once put it, "he taught white America to get down."
    1977 - Florists Transworld Delivery (FTD) reports that in one day, the number of orders for flowers to be delivered to Graceland has surpassed the number for any other event in the company's history.    
    1982 – The first CDs, compact discs, were released to the public in Germany.
    1984 - Top Hits
“Ghostbusters” - Ray Parker Jr.
“What’s Love Got to Do with It” - Tina Turner
“State of Shock” - Jacksons
“That’s the Thing About Love” - Don Williams
    1987 - No. 1 Billboard Pop Hit: “Who's That Girl,” Madonna.
It is the title song of Madonna's third film.
    1988 - Fifty-five cities, from the Middle Mississippi Valley to the Middle Atlantic Coast Region, reported record high temperatures for the date. Beckley, WV reported an all-time record high of 96 degrees, and Baltimore, MD hit 104 degrees, marking their thirteenth day of the year with 100 degree heat. Chicago, IL equaled a record with 46 days of 90 degree weather for the year. Thunderstorms produced severe weather from Wisconsin to New Jersey. Thunderstorms in New Jersey produced high winds which gusted to 92 mph at Wrightstown, and blew down a circus tent at Lavallette on the Jersey Shore, injuring fourteen persons.
    1992 - Woody Allen admitted to being romantically involved with Soon-Yi Previn, adopted daughter of Mia Farrow, Allen's longtime companion.
    1993 - Pop star Michael Jackson became the subject of an investigation of child molestation of a 13-year-old boy. Police confiscated video tapes and photographs from Jackson's Neverland ranch home, but found nothing to support the allegation. The charge was that Jackson had fondled and engaged in oral sex with the boy over a period of several months. It was believed that the child-abuse allegation grew out of an "extortion gone awry," after a purported demand for $20 million by the boy's father, a dentist, was denied. Charges were later dropped, and an unidentified source leaked to the press that a hefty settlement, possibly as high as $15 million, was paid to the boy's family. More than a year after the damaging allegations were made, the Santa Barbara County and Los Angeles County district attorneys publicly announced that they didn't have enough evidence to charge the pop singer with a single crime.
    1994 - Boise, ID recorded its 41st day in a row with 90 plus temperatures, a record for that city.
    1994 - Severe thunderstorms belted central Oklahoma. Winds gusted to 113 at Meno, 104 at Mangum and 97 at Hobart. Hail up to 4.5 inches in diameter driven by the winds totaled 30 mobile homes at Okarche
    1996 - Ross Perot announced he was the Reform Party's presidential candidate.
    1998 - United States President Clinton admitted to having an improper relationship with former White House intern, Monica Lewinsky….so that’s what they call it!
    2002 - Homering in the seventh inning of Mariner starter James Baldwin, Yankee All-star Alfonso Soriano becomes the first second baseman to hit 30 home runs and steal 30 bases in the same season. Bobby Bonds is the only other Yankee to post a 30/30 season, accomplishing the feat in 1975.
    2002 - Alex Rodriguez becomes the sixth player and the first infielder to compile five consecutive 40-home run seasons. The Rangers' shortstop joins Ralph Kiner (1947-51), Duke Snider (1953-57), Ken Griffey Jr (1996-2000), Sammy Sosa (1998-2002) and Babe Ruth (1926-32), who established the record with seven straight 40-homer seasons.  He admitted in 2009 that he was taking PEDs during this period.
    2003 - Peanuts character Charlie Brown joins late broadcaster Bob Prince, Negro League star Josh Gibson, former catcher Manny Sanguillen current shortstop Jack Wilson to be honored by the Pirates with a bobble head doll give-away day. Almost ten percent of the nearly 18,000 Peanuts strips created by Charles Schulz focused on baseball.
    2003 - The Rally Monkey, the Angels' unofficial mascot, is honored for its contribution to last season's world championship with its own bobble head doll promotion. The Rally Monkey Bobble Belly joins other dolls given to fans this year paying tribute to Troy Glaus' (2002 World Series MVP), Adam Kennedy' (ALCS MVP), and Mike Scioscia (AL Manager of the Year) and will wear an Anaheim jersey with a name of an honored player on the back.
    2004 - As she enters Raley Field at 6:27 p.m., five year old Olivia Perez is honored by the Sacramento River Cats as she becomes four millionth fan in franchise history. The Triple A affiliate of the Oakland A’s reaches the milestone faster than any club in minor league baseball history.
    2005 - St. Louis announces the franchise has broken its single-season attendance record of 3.43 million set in 1989. The first-place Cardinals have sold 3.45 million tickets for the team’s farewell season at 40-year old Busch Stadium     
    2008 - In a pre-game 55-minute ceremony at Minute Maid Park, Craig Biggio becomes the ninth Astro to have his jersey number retired. The Smithtown, N.Y. native, who wore number 7, is the team's all-time leader in games (2,850) and seasons (20) played.  He was elected to the Baseball Hall of Fame in 2015.
    2008 – Swimmer Michael Phelps became the first person to win eight gold medals in one Olympic Games.
    2012 - The United Kingdom's Treasury Committee of the House of Commons releases the first of two volumes reporting on the LIBOR fixing scandal.
    2013 - A wildfire near Yosemite National Park burned over 25 square miles, forcing residents of the Pine Lake community to evacuate.
    2013 - UN inspectors arrive in Damascus to determine whether chemical weapons were used in the Syrian conflict.
    2015 – The IRS revealed that hackers stole taxpayer data in May from as many as 334,000 taxpayers.