Subscribe@leasingnews.org

Day in American History

Friday, August 19, 2005

Headlines---

Classified Ads---Sales
    Wachovia faces hit of half a billion
        New York AG Eliot Spitzer Settles 4 More
Classified Ads--Help Wanted
    More about Commercial Money Center
        American Leasefund joins "Story Credit" list
UAEL Lake Tahoe Conference Up-Date
    Brown and Magee at Patriot Capital Funding
        ATEL Hires James as Regional VP
CIT/Riecks EVP, Group Head Construction
    My Trip to New York
        News Briefs---
You May Have Missed---
    California Nuts Briefs---
        "Gimme that Wine"
Today's Event in History
    This Day in American History
        Baseball Poem

######## surrounding the article denotes it is a “press release”

Classified Ads---Sales

Bakersfield, CA.
I have an extensive sales and management background in equipment leasing. My work history exhibits my major strength in small ticket equipment leasing. Email: pangress@msn.com

Boston, MA.
Middle market originator, construction/Trucks / Trailers w/ 8 years in territory, looking for company / bank with competitive products
Email: mrichlease@comcast.net

Cedar Rapids, IA.
Formally trained in Credit, Collections, & Sales with regional bank. Seeking sales or sales management. Over ten years in SM, vendor and end user.
E mail: mjrprime@yahoo.com

Central, NC.
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base.
Email: sunriseleasing@aol.com

Denver, CO.
Experienced Equipment Leasing Broker looking for a in house leasing company. Can bring a book of business with me or develop new territory where needed. Email: Steven@eagle2.net

Detroit Mi
5 yrs sales experience in IT small ticket leasing/Greenbelt Certified with Fortune 100 company/strong communication and negotiation skills/book of business available.
scottpoko@comcast.net

Detroit MI
Motivated self-starter w/5 yrs sales exp. IT leasing. Excellent communicator w/strong negotiation/biz dev. skills. Six-sigma certified w/ Fortune 50 company/book of business.
Email: playmakers1@sbcglobal.net

East Central Florida
20+ years experience in all areas of leasing; sales, credit, operations, syndication. Currently independent seeking position with direct middle market lender in regional capacity
email: southernleasing@bellsouth.net

Fresno CA.
Account Exec/Manager. 7+ years Leasing Sales: underwriting/contract, complex transactions, hi-tech, government, direct & vendor leasing. Captive & syndicator environments. Expert deal closer. Will send resume.
Email: dsp559@pacbell.net

Grand Rapids, MI.
17 years sales/ sales management in Britain specializing in operating leasing/ Asset Management within middle ticket market. Credit/ documentation skills. Previous sales experience in Michigan.
email: pauldear1@comcast.net

Greensboro, N.C .
Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Email: kc1492@aol.com

Kansas City, MO .
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12 Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Email: dhundley1@kc.rr.com

Los Angeles CA .
5 years experience structuring off-balance sheet finance solutions on computer and medical equipment. Perform detailed competitive analysis and market research. I uncover leads and sell.
email: barretthawk@hotmail.com

Louisville, KY
Sales: 20 yr. “go getter” machine tools/const. leasing/finance pro, establishing. vendor/mfg. programs in KY,TN,OH,IN, will travel 3/5 state area, wants stable company + salary/ com./benefits.
Email: jim_jrd@msn.com

Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Email: makelly21@hotmail.com

Montgomery, AL.
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama. Work with leasing company or broker.334-281-5200
E-mail: billmcneal2003@yahoo.com

Nashua, NH.
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
E-mail: RPepa@aol.com

Philadelphia , PA
Seeking an open opportunity to advance in the automotive, commercial leasing & finance industry.........
Email: alexe362002@yahoo.com

Portland, OR.
"Exp. In direct sales and sales mgmt. I love Portland, but decent here jobs are few. Willing to be re-located, would like to work for you.
Email: pthygeson@netscape.net"

Prairie Village, KS
Have substantial deal flow and database of broker referral sources. Generated and closed over $22M LY. Seeking exclusive relationship w/direct founder. Email: fiergl@aol.com

San Francisco Bay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only. Transaction size from $500M to $10.0MM. Client base: printing, food, retail, manufacturing.
Email: edm173@sbcglobal.net

San Francisco Bay Area, CA
Rainmaker / Hunter: Currently employed Vendor Program Originator. Proficient with technology to yellow iron assets and complex program development. Extensive national Rolodex.
Email: VdrPgmBizDev@aol.com

SF Bay Area, CA.
15+ yrs--mid mkt. $500M to $10.0MM. Seeking role w/ captive or global leasing firm. large book to bring with me! Debt, tax, 1st amendment, etc.
Email: lac4002@yahoo.com

Seattle, WA
Over 20 years experience in commercial lending, including sales, management, and credit. Seeking position with major finance company or commercial bank. Email: lc.saxguy@gte.net

Southern California
Equipment Financing Professional with strong background in Sales, Management, Marketing & Operations. Will consider relocation for Senior Sales or Management position offering dynamic growth opportunity.
Email: natsif@hotmail.com

South Central U.S.
TX, OK, KS & AR Territory.
Equipment finance and leasing professional, 20 years experience. Top producer in middle to upper middle markets. Extensive customer base.
Email: usleasingrep@yahoo.com

For a full listing of all “job wanted” ads, please go to:

http://216.66.242.252/AL/LeasingNews/JobPostings.htm

To place a free “job wanted” ad, please go to:

http://216.66.242.252/AL/LeasingNews/PostingForm.asp

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

Wachovia faces hit of half a billion One-time earnings
charge is possible if leasing rule changes

RICK ROTHACKER

Staff Writer

www.charlotte.com

Wachovia Corp. could take a one-time charge to earnings later this year of $500 million to $800 million because of a proposed change in the accounting of controversial leasing transactions.

The possible charge, disclosed in a securities filing this month, is the latest fallout from the bank's use of leasing deals that reduced the company's income taxes.

In 2004, the Charlotte bank's federal tax bill more than tripled to $3.4 billion, partly because of a settlement with the Internal Revenue Service over its use of so-called Lease-In, Lease-Out (LILO) transactions.

The leasing arrangements allowed Wachovia and other companies to receive tax benefits by buying public infrastructure such as subway systems and then leasing them back to the municipality. The companies can gain a tax advantage when the value of the assets depreciate, a benefit governments can't take.

Congress restricted the use of the leases in October. Wachovia said it stopped using them in 2003.

In the filing this month, the company said it would take the charge Dec. 31 if the Financial Accounting Standards Board makes the proposed accounting change.

Under the proposed guidelines, Wachovia would recognize income over the period of the leases that would equal the amount of the one-time charge, the filing said.

The new accounting rules also could affect Wachovia's so-called Sale-in, Lease-out (SILO) leasing arrangements, but the filing said the company could not predict the financial impact. The Internal Revenue Service has labeled SILOs abusive tax avoidance schemes, but Wachovia has said its tax treatment of the SILO transactions is lawful.

In the second quarter, an $800 million charge would have equaled nearly half of Wachovia's $1.7 billion in profits.

In a filing last week, Charlotte-based bank of America Corp. said it was evaluating the proposed accounting change. The bank also says it has stopped making the leasing transactions.

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

Department of Law 120 Broadway New York, NY 10271 Department of Law The State Capitol Albany, NY 12224 For More Information: (518) 473-5525 For Immediate Release  August 18, 2005 FOUR ADDITIONAL SETTLEMENTS REACHED FOR NORVERGENCE CUSTOMERS Relief From Fraudulent Leases Tops $16 Million  Attorney General Eliot Spitzer today announced settlements with four additional financial institutions in connection with widespread telecommunications fraud involving NorVergence, Inc., a bankrupt New Jersey-based telecommunications company. Under the terms of the newly announced agreements, BB&T Leasing Company, Interchange Bank, R-G Crown Bank (d/b/a Crown Bank Leasing), and National Penn Leasing Company, will forgive $2.8 million (90% of the balances on outstanding leases) in payments due from 111 New York customers, who signed long-term contracts with NorVergence. "I would like to commend these financial institutions for offering relief to those small business owners who were duped by NorVergence's false promise of savings," said Spitzer. "Unfortunately, other leasing companies are still trying to collect from consumers based on these fraudulent contracts. Those financial institutions that fail to offer proper financial relief to NorVergence customers should know that my office is prepared to explore further legal options." Nine other financial institutions previously reached agreements with the Attorney General's office regarding leases they acquired from NorVergence. Including today's latest settlements, a total of 711 NorVergence customers from New York have received over $16 million in relief. The chart below outlines the terms of the new settlements: Leasing Company Relief Percentage Total Dollars Forgiven NY Customer Leases Interchange Bank 90% $159,097 8 BB&T Leasing Corporation 90% $1,990,558 67 National Penn Leasing Company 90% $197,063 7 R-G Crown Bank Leasing Company d/b/a Crown Bank Leasing 90% $507,477 29 Under the settlement agreements, the financial institutions also forgive any late fees, penalties and property insurance charges imposed after termination of contracted services, and credit any payments made after service was terminated. The financial institutions will issue refunds to customers where payments exceeded amounts due under the settlements and will terminate all litigation and withdraw any adverse credit reports against former NorVergence customers who elect to participate in the settlements. The financial institutions will also offer the same settlement terms to customers who have already settled on less favorable terms. Currently 12 other financial institutions may face legal action by the Attorney General's office in connection with fraudulent NorVergence telecommunications agreements. Notices regarding potential legal actions have also been previously sent by the Attorney General to Thomas Salzano and Peter Salzano, as officers of NorVergence, which was declared bankrupt in July 2004. NorVergence began aggressively marketing its telecommunications products in 2002, promising potential customers savings of up to 60 percent. It attributed these savings to its use of a proprietary device referred to as a "Matrix box." The company claimed this technological innovation provided customers with wireless, toll-free telephone service and high-speed internet connection, all for a fixed monthly fee. The equipment accomplished none of these functions. Instead, it was a commonly used device in the industry that permits both voice and data transmission over a high-speed service line. NorVergence's sales force was trained to apply deceptive and high pressure sales tactics in recruiting prospective customers, who consisted largely of small businesses, not-for-profits and religious institutions. Nationally, the company secured approximately 11,000 customers; with approximately 1,000 in New York. The company's customers typically signed five-year contracts, which the company then sold at a discount to third-party financial institutions. The financial institutions, in turn, billed customers under the original contract terms. These multi-year commitments purported to obligate customers to pay as much as $340,000 for the Matrix box, even though the market value of the device was no more than $1,500. When a federal bankruptcy court declared NorVergence bankrupt last summer, customers were left without telecommunications services and had to purchase alternative service on a per call basis. Yet the financial institutions continued to bill customers, and in some instances sued to collect on the agreements. Consumers wishing to file a complaint pertaining to a NorVergence telecommunications contract may contact the Attorney General's toll-free consumer helpline (800) 771-7755, or visit his website at www.oag.state.ny.us . This matter is being handled by Assistant Attorneys General Joy Feigenbaum, Keith Gordon, and Shahla Ali under the direction of Thomas Conway, Chief of the Consumer Frauds and Protection Bureau, and Terryl Brown Clemons, Assistant Deputy Attorney General for the Division of Public Advocacy.

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

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

Classified Ads----Help Wanted

Account Executives

Account Executives Positions are available for remote Account Executives with 7+ yrs Equipment Leasing Sales exp.  Work directly with CFOs, CIOs, CEOs and other high-level executives. Please send resume indicating where you saw this ad to:  US_DFS_Staffing@dell.com. About the Company: At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide.

www.dellfinancialservices.com

Credit Analyst

Credit Analyst Campbell, CA. Credit Analyst for middle market commercial/venture leases. Performs financial statement analysis/assesses qualifications w/underwriting criteria. Assists portfolio management. Requires excellent analytical and writing skills. College degree  finance/accounting. Prior exper. financial services industry required. E-mail resume to: pentech@pentechfinancial.com

For more information about Pentech: www.pentechfinancial.com

Lease Representatives

MIS/Business Analyst

MIS/Business Analyst Campbell, CA. Business Analyst needed to assist Ops Department in production and development of business segment reporting, liquidity management; systems integration. College degree/related experience in financial services industry required. E-mail resume to: pentech@pentechfinancial.com

For more information about Pentech: www.pentechfinancial.com

National Account Manager

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

More about Commercial Money Center

The highest weekly search of the Leasing News Web Site archives is always about CMC or Commercial Money Center. There must be those who visit the site just to find “up-dates” on what is happening or are involved in the disposition of the many disputes and problems, including what will happen to the officers, if anything, or who is going to get what money of whatever is left.

Much of our information does not come from the attorneys, or the previous people involved, but from those who are managing the portfolo's.

Here is one that I asked permission to share with readers, and Troy Lang said it was okay to print:

“The latest from Ty Hanson (formerly of the CMC/Conrad & Associates) mess really gave me a chuckle. If you don't mind, I wish to share some of my thoughts.

“I have been involved in the servicing of special asset portfolios (to include the servicing of the Commercial Money Center Portfolio after the fallout) for a number of lenders for several years. Based on my experiences I have seen portfolios that were the true definition of a "well oiled machine". And of course I have seen some real nightmares.

“From the inception of the financial contract to the closure and or collections of fraudulent cases, I have been involved in the services of what some may have considered an impossible collection. In most scenarios the "fraudulent" cases started out as matter of poor underwriting and or poor pre-qualification by the lender and or broker. In my opinion, many losses suffered by lenders can be reduced if the lender and or brokers take the time and effort to do a little better due diligence at the lease inception. And then follow up with swift and intelligent decisions while servicing. But without risk, there is no gain. Which is why there will always be those who will take what some may consider "unnecessary risks". Even so, servicing these less then perfect transactions is not an impossible task when one has the means to properly and diligently pursue those parties who may have taken unjust benefit from such transactions.

“You know Kit, I have been told by one of my associates that "the leasing industry as a whole is nothing more then a license to steal". While, I don't share this opinion, it does seems to fit when one considers the actions taken by the principals of CMC, the principal of Conrad & Associates and the principals of Anthony Morgan. I stress to you that the principals of these organizations are most at fault. After the fallout my staff and my agents found that many of the collectors, underwriters and servicing agents within the CMC organization took note of what was going on. And in a number of cases these folks did a hell of a job trying to avoid the fallout and collect for the investors. These folks know who they are and I wish to congratulate each of them for their efforts.

“It's just such a shame to see the people whom are truly responsible for such losses often walk away from the wake they have caused. I think the leasing industry and the insurance industry have learned a great deal from such matters. But, as I suggested before. Without risk there is no gain.

“Keep up the good work Kit.”

Respectfully,

Troy Lang
Tierra Portfolio Services
tierraservices@qwest.net

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

American Leasefund joins the "Story Credit" list with geographic Area: Idaho, Montana, Oregon, Washington and Minimum Dollar Amount: $3,500 - $50,000. You will find many of these companies have their own niche, specialties, and accordingly have a good reputation. If any reader should have any different information, please do not hesitate to contact
kitmenkin@leasingnews.org

Story Credit Lessors

These companies specialize in "C" and "D" credits, often news businesses, or businesses where the principal(s) have Beacon score around 600 or previous difficulties; meaning to become comfortable with the credit and financial situation you need to learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. Many of these companies may also be a "B," but appear otherwise without the "story" to understand the full financial picture.

(To qualify for this list, the company must be a lessor and not a broker or superbroker, along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. We reserve the right to not list a company who does not meet these qualifications.)

(A) Pawnee Leasing Corporation; Some times we go higher than $30,000, but our marketplace is from $1,000 to $30,000.

(B) Allegiant.pdf

(C) Mesa Leasing, Inc., Industries served: Titled vehicles (Trucks, trailers, OTR, etc.), Construction, Restaurants, and all the other "hard to get approved" industries.

(D) ABCO Leasing, Inc. in Seattle area has been operating since 1974 serving the broker community. We required full financial disclosure on every transaction. We do story transaction, but do not like to refer to them as "C" of "D" credits. We think of therm as "A" type credits that have not been discovered yet. In actuallity, we do not really like to look at what most describes as "D" credits.

(E) Black Rock Capital comment: We book anywhere between $15 to 20 million per year. We do no "app only" business and require a full financial package for each transaction. Our average size transaction is approximately $250k and, although, we concentrate in printing, packaging (steel rule die industry) and road construction equipment we do not rule out anything that makes sense. More information can be found at www.blackrockcapital.com.

(F) Black Rock Capital (Ireland) Limited and Black Rock Capital (UK) Limited provide the same services for small to middle market corporations in the European Economic Community and the United Kingdom.

(G) Cobra Capital, LLC. Comments: Our registered trademark "Making impossible possible" is our central marketing tagline for both strong and weak credits. I have developed a 10 year history, (from Cobra and my prior company GALCO), with specialty, non-conforming transactions (story credits) and have a solid reputation for candidly responding to our originators and lessees and working diligently to mitigate deal risk rather than making excuses to turn deals down. Our originators prefer our underwriting approach to non-conforming transactions since unlike most non-conforming funders, we prefer to mitigate risk versus jacking our return. Both Originators and Lessee's prefer our candid approach as we are also frequently asked to advise lessee's and lessors on the best way to structure their bank loans and raise capital due to our 25+ year banking and accounting backgrounds as my partner and I are both former bankers and CPA's.
| Partners Bio | LaSalle Bank Reference | Cole Taylor Bank Reference |

(H) Pentech is the lessor partner with Manifest Funding Services for their Navigator, Navigator Plus & Navigator Direct. This is through our sister company Pentech Funding Services, located in San Diego and headed up by Ron Wagner.

(I) Sunrise International Leasing Corporation Comment: The broker program is "...an informal program as our primary business is still vendor leasing."

(J) Boston Financial & Equity Corporation, most of our leases are venture capital backed startups and turnarounds. We require full financial disclosures, CPA and internal statements, no tax returns. We do not required additional collateral, no PG's or RE needed. Do not send deals with large tax liens, especially if they are payroll taxes.

(K) Dakota Financial is a collateral-based direct funding source that specializes in C & D level transaction for customers who are unable to receive funding from traditional sources. Our nationwide program provides funding for start-ups as well as credit profiles that have prior bankruptcies, judgements, tax liens, repossessions or slow pays. I would say that the average credit score of our transactions is in the mid 500s. We have done many deals in the sub 500 range. Although we do all kinds of equipment, we specialize in trucks (including over the road owner operators), trailers, yellow iron and logging equipment. I encourage you to go to our website, www.dakotafinancial.com to find out more information including examples of recent funded transactions.

(L) IFC Credit Corporation also services on a regular basis "A" and "B" credits, but it also considers "story credits."  "As you say, we need to become comfortable with the credit and financial situation and learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. I would describe the B and C type credits we fund as companies having 'checkered earnings'."

(M) Creative Capital Leasing Group: "We are able to fund tough deals, bad credits, BK's, past tax liens, start ups, used equipment, etc., because we look outside the transaction for real estate, and marketable securities to take as additional collateral."

(N) Blackstone Capital Partners, L.P. lends up to 50% of verified auction value for working capital and/or equipment financing requests (we of course include equipment to be acquired in our valuation). Using this formula, allows Blackstone to approve deals on the assets rather than the credit or cash flow that other lenders desire. Also being an asset lender, we are looking for hard assets i.e. yellow iron, machine tool, manufacturing lines, textile etc... We do not care for soft assets such as computers, furniture, restaurant, or "white elephants" (equipment that is too specific to the clients needs and was specially built for them - there would be no resell available and our liquidity if repossessed would be in jeopardy). If you have any questions, please feel free to call, we will do our best to help or seek the answer for you.

(O) Bankers Capital " We will do ANY Type of Equipment, in ANY industry, in ANY state.  We especially like 6-figure transactions with full financial packages no matter how good or bad they look.  We look to structure the story C&D credits with any kind of additional collateral that makes sense.  It could be with 2nd or 3rd mortgages on residential or commercial Real Estate, additional equipment, cash value life insurance, security deposits, vendor agreements.  We look for any way to make the deal work instead of looking for any way to decline the deal."

(P) Financial Pacific Leasing supports a nationwide network of Brokers and Lessors. We specialize in "B" and "C" credits for established companies as well as companies under two years in business.

(Q) American Leasefund, Inc. funds small hard to do transactions under $50,000.00. Most of the transactions are "app only". We look for additional collateral or larger first payments to help the weaker credits. We maintain and service our own portfolio. All of our lessee billings are done via ACH.

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

(Here's a tip from leasing portfolio expert Rob Yohe ( MLOST@aol.com )

who is going to the Lake Tahoe conference. He is flying into Reno, Nevada, where he can take the hotel shuttle or get another shuttle.

Less than an hour rather than flying to Sacramento, San Francisco, or Oakland. Another tip, if you can't go direct, either Las Vegas or Salt Lake City have several flights and are a shop hop.editor)

United Association of Equipment Leasing

September 22-25, Lake Tahoe, California

Make your room reservation as soon as possible at Caesars Tahoe (1-866-89-Tahoe for the UAEL block) as the hotel expects to be sold out.

If you haven't booked your room at Caesars Tahoe (866-844-2696 UAEL block) for the UAEL Fall Conference and Exposition please do so as soon as possible.

The complete brochure has been mailed and is also available at
www.uael.org

. Register for the conference before August 15 to take advantage of the UAEL discounted rate.

The event will also feature the exclusive buyout of the M.S. Dixie for the Saturday Sunset Dinner/Dance Cruise.

UAEL is the sole occupant of the M.S. Dixie for our Saturday Evening Sunset Dinner/Dance Cruise and have ordered perfect weather for the event!

Lake Tahoe 's Zephyr Cove Resort serves as a homeport to the M.S. Dixie II Paddle wheeler. Lake Tahoe 's original paddle wheeler company welcomes you aboard the M.S. Dixie II. Voted Lake Tahoe 's best boat cruise.

for more information, please go here:

http://www.leasingnews.org/items/Tahoe_Conf.htm

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

Patriot Capital Funding Adds Two Experienced Industry Professionals

WESTPORT, Conn.-- --Patriot Capital Funding, Inc. (Nasdaq: PCAP), a specialty finance company providing customized financing solutions to private equity sponsors focused on making investments in small- and mid-sized companies, today announced the hiring of Andrew Brown as Vice President and Ryan Magee as Assistant Vice President.

Messrs. Brown and Magee were both previously with the Global Sponsor Finance unit of GE Commercial Finance ("GE"), where they worked with private equity sponsors and their portfolio companies. Prior to joining GE, Mr. Brown spent two years at Knox & Company, a middle market investment bank, and has several years of experience with PricewaterhouseCoopers.

Mr. Magee is a graduate of GE's Financial Management Program and has held several different risk and origination roles within GE.

"We enthusiastically welcome Andy and Ryan to the Patriot Capital Funding team. Given their relevant industry experience at GE and elsewhere, we expect immediate and valuable contributions from both," stated Patriot Capital Funding President and CEO Richard Buckanavage.

About Patriot Capital Funding

Patriot Capital Funding, Inc. (www.pat-cap.com) is a specialty finance company providing customized financing solutions to private equity sponsors focused on making investments in small- and mid-sized companies. Patriot Capital Funding typically invests in companies with annual revenues between $10 million and $100 million, and which operate in diverse industry sectors. Investments usually take the form of senior secured loans, junior secured loans and subordinated debt investments - sometimes containing equity components. Patriot Capital Funding also offers "one-stop" financing, which includes a revolving credit line, one or more term senior loans and a subordinated debt investment.

Patriot Capital Funding, Inc.
Richard Buckanavage,
203-227-7778
OR
Jaffoni & Collins Incorporated
Robert Rinderman/David Collins,
212-835-8500
PCAP@jcir.com

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

ATEL Hires James as Regional VP

Phil Litchenstein, Senior Vice President and National Sales Manager of ATEL Leasing Corporation, announced the hiring of Jay L. James as Regional Vice President for the South Central region. Jay will work out of an office near Dallas, TX.

Jay began his career with Bank of America in Texas before getting into leasing in 1997 with American National Bank. He joins ATEL from Wells Fargo Equipment Finance. Prior to Wells Fargo, Jay worked for several years with Mellon Leasing.

Litchenstein said, “Jay will be an excellent addition to the ATEL sales team. He has established himself in the territory and brings a wealth of product knowledge and credibility.”

ATEL Leasing Corporation, a wholly owned subsidiary of ATEL Capital Group, works closely with investment-grade and near investment-grade companies in the United States, Europe, and Asia to structure creative financing solutions for the leasing of business-necessary equipment. Each lease transaction is customized to preserve cash resources and optimize accounting and tax planning objectives.

Some of the types of equipment in ATEL's nearly $2 billion portfolio are: aircraft, communications equipment, machine tools, materials handling equipment, off-shore marine vessels, medical equipment, tractors, trailers, helicopters, and various types of manufacturing equipment.

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

CIT Names Riecks EVP, Group Head of Construction

Tempe, AZ – - CIT Group Inc. (NYSE: CIT), announced the appointment of Ron Riecks to Executive Vice President and Group Head of the company's Construction unit. He will be responsible for overseeing all aspects of the construction division including sales, credit, funding and customer relationships for CIT Construction North America. Riecks will take over for Roy Keller, who recently retired from CIT after three decades with the company.

“Ron has been an integral member of the CIT team for the past 27 years and has shown terrific initiative and leadership throughout his tenure with the company. In his new role, Ron will capitalize on CIT's strong market position to explore new and promising opportunities for the future growth of the Construction unit,” said Rick Wolfert, Vice Chairman, Commercial Finance. “His drive and dedication to our customers will be central to the next phase of growth for CIT's Construction unit. Ron is a natural fit to succeed Roy Keller.”

Riecks' first charge in his new position is to support customers through the implementation of CIT FASTAPP - an improved business model designed to help companies secure instant leasing/financing approvals companies.

Prior to joining CIT, Riecks was branch manager for Old National Bank of Washington.

About CIT Construction

CIT Construction - U.S. is a leading lessor and lender in the construction, printing, machine tools, plastics, healthcare, and manufacturing markets. Further information can be obtained at the company's website at www.cit.com or www.efinance-it.com.

About CIT Group

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 $60 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 and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based 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 www.cit.com.

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

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

My Trip to New York City

Thank you readers who pointed out that I had misspelled the Mayor of Chicago's name, it is Daly, Richard M. Daly.

“THANKS FOR THE ARTICLE ON YOUR VISIT TO CHICAGO. HOWEVER, OUR MAYOR'S NAME IS SPELLED "DALEY", ALTHOUGH IT SOUNDS LIKE THE DAILEY PLAZA IN SAN FRANCISCO. THANKS”

RAPHAEL LAVIN, CLP

SPSLLC@AOL.COM

I also did not mention visiting Millennium Park or visiting the Art Institute of Chicago Museum to see the Toulouse-Lautrec & Montmartre exhibit or going to the 94th-floor observatory, more than 1,000 feet above Chicago at the John Hancock Center, featuring an open-air Skywalk, the Midwest's highest open-air. One of our neighbors, also who was attending the Colvin's 50 th Wedding Anniversary, lived in Chicago for over twenty years, fourteen years in the Hancock building with a fabulous view. We had the advantage of several tours and places to see in addition to what the Colvins had arranged.

I should also have mentioned the Miracle Mile shopping, and then going down Oak Street with their great shops; one I spent 45 minutes in, almost buying a Toulouse-Lautrec original print.

An interesting point I should mention is the Thursday we left, I had exchanged for Sue a top at the Saks Fifth Avenue store in San Francisco ( I was signing a lease down town, so it was not difficult for me to swing over to Union Square.)

In Chicago, we also visited the Saks Fifth Avenue, and then in New York, we visited the flag ship store, so within one week's time I had been in their three top stores.

I liked San Francisco, as the service was terrific, and everyone could not do enough for you. Chicago had a bigger collection of Zoran, the unit I went to exchange an item, but New York had the largest selection. Chicago was fair in service, New York was very poor; however, I should mention the manager of the woman's division was running around with other managers as she was getting several hundred “units” in the next day, so they were all very, very busy.

To say the least, I was not impressed with New York. Now you have to understand I was born in Manhattan, came back in the late fifties to study with Bill Russo, attended classes at Julliard, and definitely love the restaurants, museums and theaters. We visited both the Metropolitan Museum, and the Museum of Modern Art with the special Cézanne and Pissarro showing ( I am a big Camillee Pissarro fan, and I also go “ape” when I see original Van Gogh's, Monet, and Sue makes me move on when I stand too long in front of these paintings, as I am in awe of what I am able to view in person---to me, it is overwhelming.)

Katz is the best for corned beef, not Stage or Carnegie Deli, and while I have been to the top ten Zagat's rated restaurants in the last several years, I keep going back to Jean George at the George Trump International Building ( lunch, especially.) We had dinner at Veritas, great wine menu, so-so food; dinner at Gramercy Tavern, same food at Veritas, expensive; Blue Fin, changed our minds about Spice Market, and spent a lot of money on cabs.

While it was hot in Chicago, the wind cooled you off, and we hit New York City in a heat wave, 97 degrees and at midnight on Broadway it is perhaps more than 80 degrees and you could hardly breath in the overwhelming group of people.

A car burst into flames near the Blue Fin restaurant. It must have taken fifteen minutes or more to get cars to move so the fire truck could come to the scene. By that time, the car was fully engulfed, and I am surprised it did not explode.

Quite a site at midnight on Broadway.

I really enjoyed Broadway the next day on Saturday as the streets turned into the largest “open market” I have ever seen; block to block almost all the vendors were the same, several with different prices, but almost the same merchandise. But to look down the street for perhaps twenty blocks and see nothing but people!!!!

What I didn't like was the very dirty sidewalks and streets. Filthy.

At all times of the day there were bags of garbage on the sidewalks from the restaurants, retail shops, and office buildings, and garbage trucks going up and down the streets during the day and at night, plus many construction trucks as there was a lot of work going on at stores, office buildings, apartments, and debris all over the place, and homeless people actually asleep against buildings and on sidewalks you had to step over.

If I were to run against New York Mayor Bloomberg in the next election, I would just take a few pictures on the city streets, and I mean in Broadway, and lower Manhattan, and all the places we visited, putting them on as an ad of why to vote for me. Compared to Chicago, New York was the lowest--- New Yorkers should be ashamed about Manhattan sidewalks and streets. As an outsider, Bloomberg doesn't look like he is doing any great job as mayor.

We saw “Wicked,” great, different than I suspected, took a ferry ride around the city ( covered, and on the river, the cool breeze was beautiful, as was New York and New Jersey from this view, especially the Statue of Liberty, and Staten Island, that always brings tears to my eyes, since I have visited them many times, from when my mother first took me, until my last visit about a year ago. Each visit, I usually take a Ferry ride, as I have always loved this since I was a little kid.) It appears the Brooklyn side is changing, growing, even Domino Sugar, in existence in its location since the 19 th century closed down to make room for condominiums.

The talk of the town while we were there was the news that Donald Trump wanted to re-building the United Nations. My friend Dan Sorkin sent me a copy of his appearance. Here is a transcript of his appearance, which I found fascinating to read (especially as a businessperson.)

http://www.leasingnews.org/items/Donald_Trump.htm

Here is the audio, a long down load, over a minute on T1, and about 21 minutes long, but in the Donald's voice. I prefer the written one, but if you are busy, you can listen to it while you work.

http://www.radioblogger.com/images/07-22thedonald.mp3

I was glad to get back home, and if I ever go back East for another visit, it will be Chicago over New York City.

Kit Menkin

(The panoramic photograph by James Blakeway is from one from the largest collection of cities, and highest quality. The above is an expanded “thumb nail” version. The original is clearer and more colorful, available for $35 plus shipping/handling, please go to:
http://www.retrocollection.com/htmlpages/panorama.htm)

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

News Briefs----

More and More, Expert Witnesses Make the Difference
http://www.nytimes.com/2005/08/19/business/19legal.html
?pagewanted=all

Full List (229 cities) Houses Over-valued by City
http://www.usatoday.com/money/perfi/housing/2005-08-17-housing-valuations.htm

Calculate your mortgage payments under different scenarios
http://financenter.usatoday.com/money/calculate/us-eng/home02.fcs

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

You May Have Missed

Reduced pension benefits leave no parachute
http://www.dallasnews.com/sharedcontent/dws/bus/stories/
081805dnbuspensions.1773653b.html

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

California News Briefs---

Some Democrats think they can take down Schwarzenegger. They lack only one thing: The right candidate
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/08/19/DEMOCRATS.TMP

FEC allows unlimited money against Calif. redistricting
http://www.usatoday.com/news/washington/
2005-08-18-fec-redistricting_x.htm

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

“Gimme that Wine”

Former Stanford vineyard yields first wines in nearly a century
http://www.mercurynews.com/mld/mercurynews/living/food/12403200.htm

Burgundy's bouquet on a budget Taste the region's
famous character for $30 or less
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/08/18/WIGP0E8N5S1.DTL

$100 Bottle Beer Debuts At East Village Bar
http://1010wins.com/topstories/local_story_230065527.html

Just what San Francisco needed -- a $650 cocktail
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/08/18/WIGDEE8P9R1.DTL

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

Today's Top Event in History

    1814- Mary Ellen "Mammy" Pleasant birthday - Afro-American activist. She is often called the mother of black civil rights in California. Much of her life is clouded in legend which says that she freed slaves who were being held illegally in free California. She worked to win the rights at African Americans to have their testimony accepted in court (1863) and helped to end discrimination on California streetcars with Pleasant v North Beach and Mission Railroad Company (January 1868). Her civil rights actions are part of the black folklore of California in which some claim she worked as a stop on the underground railway before moving to California while others say she helped financed John Brown's raid on Harper's Ferry.
http://www.kn.pacbell.com/wired/BHM/mepleasant.html
http://www.sfmuseum.org/hist10/mammy.html
http://sunsite.berkeley.edu/ImageFinder/Bancroft/z024.html
http://www.shapingsf.org/ezine/afamerican/mpleasant.html
http://www.mepleasant.com/story2.html
http://www.press.uillinois.edu/f02/hudson.html
http://www.amazon.com/exec/obidos/ASIN/0912238046/fast-bkasin-20/
103-5362656-4423850

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

This Day in American History

    1099- The armies of the First Crusade defeated the Saracens at the Battle of Ascalon (an historic Palestinian city on the Mediterranean), one month after they had captured Jerusalem. As they did in the Holy City, they killed all “non-believers,” including men, women, and children.
    1791-African-American Benjamin Banneker published his first Almanac.
http://www-groups.dcs.st-and.ac.uk/~history/
Mathematicians/Banneker.html
    1812- Lucy Brewer, alias George Baker and Louisa Baker, concealed her sex and served on board the Constitution as a US Marine in its battle with the Guerriere. She thus became the first woman to serve as a US Marine. This also was considered by historians to be the most important Naval action of the war that took place in the Atlantic Ocean about 750 miles east of Boston. The American loss was 14 killed or wounded; the British, 79 killed or wounded and Congress awarded $50,000 to Captain Isaac Hull and his crew for the victory over the Guerriere.
    1814-The British land in Maryland to invade Washington, DC.
http://memory.loc.gov/ammem/today/aug19.html
    1814- Mary Ellen "Mammy" Pleasant birthday - Afro-American activist. She is often called the mother of black civil rights in California. Much of her life is clouded in legend which says that she freed slaves who were being held illegally in free California. She worked to win the rights at African Americans to have their testimony accepted in court (1863) and helped to end discrimination on California streetcars with Pleasant v North Beach and Mission Railroad Company (January 1868). Her civil rights actions are part of the black folklore of California in which some claim she worked as a stop on the underground railway before moving to California while others say she helped financed John Brown's raid on Harper's Ferry.
http://www.kn.pacbell.com/wired/BHM/mepleasant.html
http://www.sfmuseum.org/hist10/mammy.html
http://sunsite.berkeley.edu/ImageFinder/Bancroft/z024.html
http://www.shapingsf.org/ezine/afamerican/mpleasant.html
http://www.mepleasant.com/story2.html
http://www.press.uillinois.edu/f02/hudson.html
http://www.amazon.com/exec/obidos/ASIN/0912238046/fast-bkasin-20/
103-5362656-4423850
    1846 -Gen Stephen W Kearney's US forces captures Santa Fe, NM
http://bchs.kearney.net/BTales_197901.htm
    1871-Birthday of Orville Wright, aviation pioneer, born at Dayton, OH, and died there January 30, 1948. There has been controversy as to who launched the first air plane flight in the United States, but he certainly is the one he made flying famous.
    1871- Florine Stettheimer birthday - U.S. artist. After failing to sell a single painting in her first showing, she never offered for sale a single painting in her lifetime although in her maturity, her work was sought after. At her death, her sister Ettie mounted a memorial show at the Museum of Modern Art that received rave reviews and Columbia University established a room for her work. Her refusal to sell was backed by a substantial fortune which she shared with her two sisters. At an early age, the three sisters decided they would never marry (forming what has been called a "cult of virginity" and do creative things. One sister became a novelist under the name "Henrie Waste." The sisters were described by contemporaries as having "exquisite taste." They opened the memorable Stettheimer gallery which drew many of the top artists of the day. The sisters themselves were works of art as they dressed in old-fashioned Bohemian styles.
http://www.hollistaggart.com/Exhibitions/BakerPisano2002/
Stettheimer.html
http://www.diamondial.org/cgi-local/DiaImage.cgi?acc=51.12
http://www.americanart.si.edu/journal/v14n1/whitingabstract.html
http://www.annasuibeauty.com/site/genius_florine_stettheimer.htm
http://www.artcyclopedia.com/artists/stettheimer_florine.html
http://www.amazon.com/exec/obidos/external-search/103-5362656-4423
850?tag=fast-bkasin00-20&keyword=Florine%20Stettheimer&mode=books
    1873- Mt Whitney, the second highest peak in the US, was con­quered for the first time by a trio of American climbers, Charles D. Begole, A.H. Johnson and John Lucas.
http://www.tsha.utexas.edu/handbook/online/articles/view/DD/fduqk.html
http://www.americasroof.com/ca.html
http://www.nps.gov/seki/whitney.htm
    1883-Birthday of 1883, Coco Gabrielle Chanel - French dress designer. The Museum of Modern Art in New York has a full showing of her “work” which is fascinating to view, including jewelry and perfume bottles. Coco Chanel was the preeminent Parisian haute couture and premier arbitrator of western women's fashions for almost six decades. Coco Chanel almost single-handed changed women's wardrobes from works of architectural wonders to clothes that allow a woman to move. Her clothes were first designed for working girls, but soon wealthy women flocked to her small shop to find the clothes that freed them from the abusive corsets. Chanel, for the first time in history, presented women with clothing that fit a woman's body and did not force a woman to fit her designs. She was also one of the first women to make it big in the women's fashion industry. She presented bobbed hair, trench coats, jersey dresses, sweaters, bell-bottom slacks/trousers as well as the classic straight-line skirt as knee length with a boxy jacket that allowed freedom of motion. She retired in 1939 but came back in 1954 when Dior and others started a "romantic" fashion that threatened to return women's clothing to the turn of the century. She raised hems, introduced the chemise dress, the classic Chanel suit look we know today as a simple boxed jacket with a straight skirt with enough room to walk and climb, and, of course, the staple in every wardrobe, "the little black dress." In 1922 she developed a fragrance that is still one of the most highly sold fragrances in the world: Chanel #5. She was orphaned a age six. Her early years are obscure but there were no wealthy men behind her when she opened a small millinery shop in Paris in 1913 and within a very short time, her comfortable clothing had made her the rage of post World War I Paris. At her height, she employed 3,500! She was described by Vogue as "a revolutionist, a non-conformist, a lone rebel who let women out of the prison of tight corsets. She led women to cut their hair in the 1920's, raise hemlines, stripped away trimmings and feathers, and produced a simplicity that freed women." Coco Chanel said in a 1954 interview, "There are too many men in this business and they don't know how to make clothes for women. All this fantastic pinching and puffing. How can a woman wear a dress that's cut so she can't lift up her arm to pick up a telephone?" One of the most influential of women's clothing in America.
    1886 -The Christian Union was founded by Baptist clergyman Richard G. Spurling (1858-1935) in Monroe County, Tennessee. In 1923, this Pentecostal denomination changed its name to the Church of God. Headquartered today in Cleveland, Tennessee, its current membership is nearly 500,000.
http://earth.vol.com/~lmartin/EARLYDOC.HTM
    1893- Frank J. Wisner, owner of Cripple Creek Brewing, served the first “Black Cow” root beer float in Cripple Creek, CO. Inspired by the moon-lit view of the snow-capped Cow Mountain which reminded him of vanilla ice cream floating on top of the pitch-black mountain, he added a scoop of ice cream to his Myers Avenue Red root beer and began serving it as the “Black Cow Mountain Ice Cream Root Beer Float.” Kids loved it and short­ened the name to “Black Cow.” Cripple Creek Brewing, now located in Warrenville, IL, celebrating its 107th anniversary, sells beverages based on the original formulas, including Myers Avenue Red root beer.lbartl64lS@aol.com.
Web: www.cripplecreekbrewing.com
    1896---In the Klondike region of the Yukon, at Bonanza Creek (formerly known as Rabbit Creek), George Washington Carmack discovered gold August 16 or 17 ( it is considered the 16 as an anniversary date in Canada ). During the following year more than 30,000 people joined the gold rush to the area. Anniversary is celebrated as a holiday ( Discovery Day) in the Yukon, on nearest Monday.
    1902-Birthday of Ogden Nash, American writer, best remembered for his humorous verse.
http://canada.gc.ca/canadiana/cdaind_e.html
Born at Rye, NY, died May 19, 1971. “ Undeniably brash/Was young Ogden Nash/ Whose notable verse/Was admirably terse/ And written with panache.”
http://www.aenet.org/poems/ognash1.htm
    1905-Birthday of drummer Tommy Benford, Charleston, WV. Died March 24,1994
http://www.musicweb.uk.net/encyclopaedia/b/B352.HTM
    1906-Birthday of trombone player/guitarist/arranger Eddie Durham, San Marcos, TX Died March 6, 1967
http://www.tsha.utexas.edu/handbook/online/articles/view/DD/fduqk.html
http://www.umkc.edu/orgs/kcjazz/jazzfolk/durhe_00.htm
http://www.craftone.co.jp/solo_flight/guitarist/durham,e/discography.html
    1907-Birthday of sax player Joe Rushton, Evanston, IL.
http://www.artistdirect.com/music/artist/bio/0,,487951,00.html?
artist=Joe+Rushton
    1909 -- First edition of The Little Red Songbook published.
http://www.bloomington.in.us/~mitch/iww/lrs.html
    1912- Jimmie Shields, one of the most popular Irish tenors in Canada during the 1930's, was born in St. Catharines, Ontario. Shields rose to further fame in the US from 1937 to 1941 when he appeared with the orchestras of Eddie Duchin and Morton Gould. He also appeared on several leading radio shows, and in 1939 had his own weekly program on NBC, "Enna-Jettick Melodies." Shields was a regular performer on the CBC from 1948 until his retirement in 1964.
    1913-Birthday of Harry Mills, leader singer of the famed Mills Brothers, Piqua, OH
    1915- the Boston Braves opened their new ballpark, Braves Field, with a 3—1 victory over the St. Louis Cardinals. The Braves called this park home through the 1952 season.
    1915-Birthday of famed writer Ring Lardner, Jr., son of fabled baseball writer and humorist Ring Lardner. Lardner, Jr., was an Academy Award winning screenwriter ( Oscar for Woman of the Year; M*A*S*H) and he also wrote for television. He was a member of the Hollywood Ten, a group of film industry executives sent to federal prison in 1950 for their refusal to tell the House Un-American Activities Committee if they were members of the Communist Party. He served nine months, and was blacklisted for many years. Died at New York, NY. Oct 31,2000.
    1918—Pianist Jimmy Rowles birthday
http://www.lajazzsociety.org/LAJS/Programs/Tribute/Past/
Jimmy%20Rowles.htm
    1921-Birthday of Gene Roddenberry, the creator of the popular TV series “Star Trek”. Gene Roddenberry was born at El Paso, TX. Turning from his first career as an airline pilot to writing, he created one of the most successful TV science fiction series ever. The original series, which ended its run in 1969, lives on in reruns, and the “ Star Trek: The Next Generation.” Star Trek Deep Space Nine” and “ Star Trek: Voyager” series have continuing popularity. Eight films also have been spawned from the original concept. Roddenberry died October 24, 1991 at Santa Monica, Ca.
    1921- At the age of 34, Ty Cobb becomes the youngest player to reach 3000 hits when he singles of off Red Sox hurler Elmer Myers.
    1927-Henry and Edsel Ford drove the fifteen millionth Model T off the assembly line at the Highland Park plant in Michigan, officially ending Model T production. Production in England ended on August 19; in Ireland on December 31. After revolutionizing the automobile market, sales of the Model T had started to falter due to its failure to keep up with the competition. Total world Model T production: 15,458,781.
    1928- Canadian pop singer Norman Brooks was born in Montreal. He is best known for singing in the style of Al Jolson. Brooks played Jolson in the 1956 film "The Best Things in Life Are Free," and also starred in "The Magic of Jolson" on Broadway in 1975. His 1953 recording of "Hello Sunshine" was a substantial hit.
    1934- Roberto Walker Clemente, Baseball Hall of Fame outfielder born at Carolina, Puerto Rico. Clemente, one of the game's best and most exciting outfielders, played his entire career with the Pittsburgh Pirates, lead­ing them to a World Series in 1971 and collecting 3,000 hits. While on a mission of mercy to deliver supplies to victims of a Nicaraguan earthquake, he perished in a plane crash. Inducted into the Hall of Fame in 1973 after the mandatory 5-year waiting period was waived. Died at San Juan, Puerto Rico, Dec 31, 1972.
    1942- First offensive action in the Guadalcanal where J.F.Junkin, Army air pilot, shoots down a German flown aircraft ( allies of the Japanese ) in the Solomon Islands, after Carlson's Raiders, a special guerrilla unit led by Lt. Col. Evans Fordyce Carlson, landed on Makin Island, at the northern end of the Gilbert Islands, with orders to destroy the radio station on the island. In 40 hours, every Japanese member of a force of 350 was killed, 1000 gallons of gasoline were set aflame, and the island was rendered militarily useless.
    1943- singer Billy J. Kramer, whose real name is William Ashton, was born in Bootle, England. It was Beatles' manager Brian Epstein who brought Kramer together with a Manchester band, the Dakotas, and introduced them to the songs of John Lennon and Paul McCartney. Billy J. Kramer and the Dakotas had their first hit in 1963 with Lennon and McCartney's "Do You Want to Know a Secret." Kramer's other chart records included "Little Children" and "Trains and Boats and Planes." Kramer and the Dakotas parted company in 1966, with Kramer turning to performing in small English clubs.
    1946- William Jefferson Clinton, The 42nd US President (1993—2001 ), born at Hope, AR. Re-elected to a second term in 1996; left in disgrace due to lying and having an affair with one of his young interns; however, remained popular with those who forgave him. His autobiography was read by over a million people. Accordingly, he appointed more women to important government posts than all the presidents in history combined. There is no controversy that he liked women.
    1946-Woody Herman Band, directed by Igor Stravinsky, records his” Ebony Concerto, “ Los Angeles.
    1946-Nat King Cole records “ For Sentimental Reasons,” Capital 304.
    1950-ABC-TV airs the first children's shows.
( bottom of: http://memory.loc.gov/ammem/today/aug19.html )
    1954---Top Hits
Sh-Boom - The Crewcuts
The Little Shoemaker - The Gaylords
Hey There - Rosemary Clooney
I Don't Hurt Anymore - Hank Snow
    1954-Ralph J. Bunche, diplomat and first Black winner of Nobel Peace Prize, named undersecretary of the United Nations.
    1957-New York Giants vote to move their franchise to San Francisco in 1958.
    1958-The production of the elegant Packard line came to a halt on this day. Studebaker-Packard attributed the decision to lagging luxury car sales, but many Packard fans were disgruntled by the decision, which came shortly after Packard's acquisition of Studebaker. Many wondered why Packard, with its reputation for high-quality cars and knowledgeable management, would buy the debt-ridden Studebaker Company. Studebaker management assumed the company reins after the merger, not Packard. It was common to call the new car a “stupid-baker.”
    1962---Top Hits
Breaking Up is Hard to Do - Neil Sedaka
The Loco-Motion - Little Eva
You Don't Know Me - Ray Charles
Wolverton Mountain - Claude King
    1962- Homer Blancos plays the finest round in golf, shooting a 55.
    1963-National Association of the Advancement of Colored People Youth Council begins sit-ins at lunch counters in Oklahoma City, Oklahoma.
    1964- The Beatles opened their first US tour at the Cow Palace in San Francisco. Others to cross the stage include Jackie DeShannon and the Righteous Brothers.
    1967-The Beatles' "All You Need Is Love" hits #1 the pop charts. On the same day, Ringo Starr and his wife Maureen have a baby boy named Jason.
    1969-Trumpeter Miles Davis began recording sessions in New York for what would eventually become the ground-breaking jazz-rock fusion album "Br*tches Brew." Among the musicians taking part were Chick Corea, Wayne Shorter and Joe Zawinul. There were no rehearsals and Davis gave the musicians only minimal directions.
    1969 - 'Never say die' Camille let loose a cloudburst in Virginia resulting in flash floods and landslides which killed 151 persons and cause 140 million dollars damage. Massies Hill VA received 27 inches of rain
    1970---Top Hits
(They Long to Be) Close to You - Carpenters
Make It with You - Bread
Spill the Wine - Eric Burdon & War
Don't Keep Me Hangin' On - Sonny James
    1972 - NBC-TV presented "The Midnight Special" for the first time. John Denver was the host for the first show. Wolfman Jack was the show's announcer. "The Midnight Special" proved to be a ratings success.
    1976-The Republican National Convention nominates President Gerald Ford for reelection in a narrow victory over former governor Ronald Reagan of California. Senator Robert J. Dole of Kansas was nominated for the vice-presidency. November 2 James Earl “Jimmy” Carter, Jr. was elected president of the United States with Walter F. Mondale as vice-president. Electoral vote was 297 to Ford's 240. The popular vote was Carter, 40,828,929, Ford, 39,149,940. The Democrats kept a 61-38 Senate Majority and House majority of 292-143. The first thing he did after being sworn in office was to issue a presidential pardon to the nation's Vietnam draft resisters. He found problems with his own party controlled congress with a major setback regarding financial dealings of Bert Lance, director of the Office Management and budget, plus one of Carter's closest supports. Vernon Jordan of the National Urban League charged the administration with not doing enough to reduce unemployment among blacks, inflation plague the economy and the most serious problem he had was the continuing hostage crisis. November 4, 1980 Ronald Reagan received 489 electoral votes to Carter's 49, and the popular vote was Reagan 42,797,153; Carter 34,434,100; John Anderson, independent candidate, 5,533,927. The Republicans picked up 12 senate seats for a 53-46 majority, with one independent seat. In the House, the Democrats lost 33 seats but kept a majority of 242-192, with one seat going to an independent.
    1977- Fleetwood Mac's reunion album "The Dance" is released. The disc was taken from two shows that were recorded live at a Warner Brothers soundstage a few months earlier.
    1978---Top Hits
Three Times a Lady - Commodores
Grease - Frankie Valli
Miss You - The Rolling Stones
Talking in Your Sleep - Crystal Gayle
    1978-Alicia Bridges enters the soul chart with "I Love the Nightlife." Though the single will only reach as high as #31 in its seventeen weeks on the chart, the song's title will become a disco-era catch-phrase.
    1980- Christopher Cross comes from nowhere and has one of the biggest hits of the year off his debut album which goes platinum on this date. He has three top fifteen hits, including the Number One, "Sailing." He will take home five Grammies in February
    1984 Lee Trevino wins the PGA
http://igolf.golfonline.com/profiles/profile.dbm?golfer_id=1240
    1986---Top Hits
Papa Don't Preach - Madonna
Higher Love - Steve Winwood
Venus - Bananarama
Your the Last Thing I Needed Tonight - John Schneider
    1986 - The temperature at San Antonio, TX, soared to an all-time record high of 108 degrees
    1987 - It was on this day that consumer reporter David Horowitz was held at gunpoint on camera. During a KNBC-TV newscast in Burbank, CA, Horowitz was forced to read the assailant's rambling note. The news director took the program off the air until police could get the gunman off the set. Horowitz was unharmed.
http://www.cspc.org/founders/horowitz.htm
    1988 - Raleigh, NC, reported a record hot temperature reading of 103 degrees. Afternoon thunderstorms in Oklahoma produced wind gusts to 75 mph in southern Pittsburgh County. Thunderstorms in Indiana produced 4.50 inches of rain at Morgantown
    1990- White Sox Bobby Thigpen records his 40th save as the Chicago White Sox beat the Rangers, 4-2. He becomes the only eighth reliever to reach this milestone in major league history.
    1991 - Hurricane Bob was located 30-35 miles east of Cape Hatteras NC, and was at its peak intensity of 115 mph. Damage from Bob was estimated at $1.5 billion, making it the 15th most costly hurricane in U.S. History. A total of 18 people died in the storm: six in Connecticut, three in both New York and Maine, two in both Nova Scotia and New Hampshire, and one in both North and South Carolina.
    1992 -When Mariner second baseman Bret Boone, the grandson of Ray Boone (1948-60) and son of Bob Boone (1972-90) makes a start against the Orioles, he becomes part of the first three-generation family to play in the major leagues.
    1992-- IBM and Sears, Roebuck & Co. announce they are working together to create a voice-and-data network service called "Advantis." The two companies had already been working together since the mid-1980s to create the online service Prodigy. With their entry into Internet provider services, the companies expected to generate at least $1 billion a year in revenue.

[headlines]

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

Baseball Poem

Rainbow Slugger

    by Tim Peeler

The people that "love" you
Whip your butt raw,
Drop you head first
Into a locked-closet weekend.
You will grow up
To play mailbox baseball,
You will apply the geometry of your schooling,
See the flat plane,
The simple dimension of your swing,
A hand flies at the face of your dream,
Your home plate points toward hell,
The extended angles climb
Toward the misty heights of a rainbow.
The rainbow on the side of a mailbox
Explodes in chips of pastel paint
As you connect so perfectly,
A cannon blast against a siren
Against the black hide of the night.

(with permission of the author from his book:
“Touching All the Bases”
Poems from Baseball
available from Amazon
or direct from the publisher at: www.mcfarlandpub.com

[headlines]