Headlines--- Alert---The Funding Tree/Legacy Classified ads--68
ads Jobs Wanted---All Types "Slowdown"
reports NACM Credit Manager Index for July,2003 DVI Announces Failure
to Make Interest Payment American Banks
New Talent, New Commercial Banking Service Computer
Sales International Appoints New CFO's "It's
leadership"-Leasing Association Six Month Report Leasing Association Comments
from Readers This
Border ##### Denotes Press Release (Not Written By Leasing News) ------------------------------------------------------------------------------------------
Alert---The
Funding Tree/Legacy A
highly reliable source has informed us Bruce Peterik
has changed his name to Jack
Thompson...and for Funding Tree, and Legacy Leasing, both are closed. The
question is where is Kendra Bernal.
Evidently she did not go to jail, but
appears to have flown the coop. Until
about a month ago, her Leasing News
e-mail worked, but then started to come back. Money
has it she is back in the leasing business under a different name. http://www.leasingnews.org/Conscious-Top%20Stories/Nevada_attorney.htm ------------------------------------------------------------------------------------------- Classified
ads-- 68 ads Jobs Wanted---All Types Contract
Administrator: Lewisville, TX. 2 1/2 Years banking experience & almost 3 years Leasing experience. (
Contract Admin) hard Worker, learns quickly & willing to relocate.
email: talbotjtalbot2@aol.com Documentation/Funding/Collection
Manager: Phoenix, AZ. Five years in Equipment Leasing Industry.
Looking for a Leasing home in Phoenix. Prefer documentation/funding,
but interested/open to managing account portfolios. email:
rrr64@aol.com Finance:
Austin, TX. 20+
years all facets of lease/finance. Collection and credit management.
Equipment & rolling stock structuring. $150k credit authority, $100
million portfolio management. email: texmartin@juno.com Finance:
Lyndhurst, NJ CFO
w/20+ years leasing/financing. Respected by lenders/rating agencies
full & fair financial reporting. Outstanding record restructuring
debt. Adept at investor relations and mentoring people. Email:joemcdev@aol.com Finance:
Atlanta, GA Twenty-five
plus years experience in middle market lease/ asset based/cash flow
transactions. Heavy banking and credit background, with particular expertise
in structure and negotiation. Email:brown235@bellsouth.net Legal:
Los Angeles, CA Experienced
in-house corporate and financial services attorney seeks position as
managing or transactional counsel. Willing to re-locate. email:sandidq@msn.com To view the full list, please go here: http://65.209.205.32/LeasingNews/JobPostings.htm to post a “free” job wanted ad: http://65.209.205.32/LeasingNews/PostingForm.asp ---------------------------------------------------------------------------------- This
Week's Economic Events August 4 MONDAY Factory Orders: June August 5 TUESDAY August 6
WEDNESDAY August 7 THURSDAY U.S.
Productivity: 2nd Qtr. Consumer
Borrowing: June Sales
of Leading Retailers: July Weekly
Jobless Claims August 8 FRIDAY -------------------------------------------------------------------------------------------- ###
Press release ######################################### “Slowdown”
reports NACM Credit Manager Index for July,2003 COLUMBIA,
MD: --The National Association of Credit Management (NACM) has released
its Credit Manager's Index (CMI) for July 2003. The CMI, a monthly survey
of the business economy from the standpoint of credit and collections,
was launched in January 2003 to provide financial analysts with another
strong economic indicator. The
CMI survey asks credit managers to rate favorable and unfavorable factors
in their monthly business cycle. Favorable factors include sales, new
credit applications, dollar collections
and amount of credit extended. Unfavorable factors include rejections
of credit applications, accounts placed for collections, dollar amounts
of receivables beyond terms and filings for bankruptcies. The
NACM Credit Manager's Index (CMI), while showing growth in the economy,
has fallen for the third consecutive month. It has lost 190 basis points
since April's reading of 57.3%, indicating slower growth on a month-over-month
basis. The manufacturing sector is the reason for the slowing. The
manufacturing index has declined 390 basis points since its April high
of 58.0%. Growth in the service sector this month was unchanged from
June. This
performance is positive in the sense that the index didn't decline as
it did in June. The service index of 56.9% is the second highest reading
in the past 12 months for this sector, indicating that growth is still
quite strong. A
complete index including results from the manufacturing and service
sectors, along with the methodology, is here: http://www.nacm.org/resource/press_release/pressJuly03.html The
National Association of Credit Management (NACM), headquartered in Columbia,
Maryland supports more than 25,000 business credit and financial professionals
worldwide with premier industry services, tools and information. NACM
and its network of Affiliated Associations are the leading resource
for credit and financial management information and education, delivering
products and services which improve the management of business credit
and accounts receivable. NACM's collective voice has influenced legislative
results concerning commercial business and trade credit to our nation's
policy makers for more than 100 years, and continues to play an active
part in legislative issues pertaining to business credit and corporate
bankruptcy. Contact:
Norma Heim, NACM 410-423-1842 ###
Press Release ############################################## DVI
Announces Failure to Make Interest Payment JAMISON,
Pa.--3--DVI, Inc. (NYSE:DVI - News) announced
that it will not make the scheduled interest payment due today
on its 9 7/8% Senior Notes due 2004. Under the terms of the Indenture
governing the notes, the failure to make the interest payment may be
cured by DVI within 30 days. DVI's
inability to make the interest payment due on the notes is a result
of the severe liquidity constraints DVI is currently facing. DVI's liquidity
began to tighten as certain of its lenders reduced advance rates following
the announcement of credit rating downgrades. DVI's liquidity problems
were further exacerbated as the result of a shortfall in the amount
of qualifying collateral supporting its borrowings under its principal
bank lending facility. The shortfall has triggered a default under the
facility. DVI is currently in discussions with its bank lenders to resolve
these issues. DVI
intends to consider all alternatives available to it to secure funds
to make the interest payment due on the notes and improve its liquidity.
DVI and its financial advisors had already commenced discussions with
various prospective lenders and other sources of funding and has received
several proposals for both short term and long term solutions. However,
there are several conditions that must be met to conclude these transactions,
including completion of due diligence and negotiation of mutually acceptable
documentation. No assurances can be provided that any of the transactions
contemplated will be consummated in the next 30 days or at all. Even
if DVI is able to complete a limited short term financing transaction
of the type discussed with certain potential lenders, it will face significant
future challenges, including the need to refinance or re-negotiate various
credit agreements. The
failure of DVI to obtain additional funding or resolve the defaults
with respect to its bank lending facilities and notes could have a serious
adverse effect on DVI's business and on the value of DVI's debt and
equity securities. DVI
is an independent specialty finance company for healthcare providers
with $2.8 billion of managed net financed assets. DVI extends loans
and leases to finance the purchase of diagnostic imaging and other therapeutic
medical equipment directly and through vendor programs throughout the
world. DVI also offers lines of credit for working capital backed by
healthcare receivables in the United States. Additional information
is available at www.dvi-inc.com. Contact: DVI, Inc. John F. Schoenfelder, 877-219-1001 ### Press Release ######################################## American
Bank Welcomes New Talent, Unveils New Commercial Banking Service American
Bank announces the appointment of Paul Odlaug as Vice President, commercial
banking, leasing specialist. "We
are excited to unveil another valuable American Bank business banking service,"
said John Seidel, President. "The leasing department complements
our other
services - such as the recently-added Wealth Management division - and allows
us to offer our customers more." Paul
comes to American Bank with over 25 years of experience in the equipment finance
and leasing industry. Paul has been involved in all aspects of equipment financing
and leasing - from selling financing and leasing, to marketing, portfolio
management, pricing, pooling of lease transactions, syndicating structures
and transactions, and lease administration. His experience ranges from
large multinational corporations like GE Capital and Citicorp to small, independent
firms. While at Industrial Credit, Paul developed a finance and leasing
program for the machine tool industry that was used nationally. "At
American Bank, I have the opportunity to build a service from the ground up,
based on my years of experience," said Paul. "American Bank
is a perfect size
- small and agile enough to implement new ideas and services as the
market demands,
and large enough to be a stable force in Twin Cities banking." About
American Bank: Created in 2002 through the merger of Midway and Dakota Banks,
American Bank has quickly become a trusted, familiar name in St. Paul. Committed
to the community, they recently received an outstanding rating from the
CRA (Community Reinvestment Act), which encourages financial institutions
to meet the credit needs of the communities in which they operate. American
Bank is the largest independently-owned bank headquartered in the Twin
Cities metro area with several offices in St. Paul and its surrounding
communities. Visit American Bank online at: www.americanbankmn.com.
Sites
of Reference: CONTACT: Mark
Thorkildson American
Bank, St. Paul Phone Number: 651-643-8426
####
Press Release ########################################### Computer
Sales International, Inc. Appoints New CFO's St.
Louis, Missouri - Computer Sales International, Inc. (CSI) is pleased
to announce the joint promotions of Frederick O’Neal and J. Philip Cagney
to the role of Executive Vice Presidents and co-CFO. “CSI
has enjoyed tremendous growth under the guidance of these two outstanding
individuals,” stated Bill Gillula, President and Chief Operating Officer.
“Fred and Phil have played pivotal roles in building our reputation
of providing unparalleled service and flexibility. Sharing their collective
knowledge in the role of CFO extends the strength of our executive management
team well into the future.” J.
Philip Cagney has been employed with CSI since 1986, when he joined
the company as an Executive Administrative Assistant, growing to his
appointment last year to Executive Vice President. In his new role as
EVP and co-CFO, Mr. Cagney will continue to oversee lease pricing, portfolio
management, transaction finance and operations. Holding both Bachelor’s
and Master’s degrees in Chemical Engineering, Mr. Cagney also earned
an M.B.A. from Washington University and has held positions with Monsanto
Company and Eli Lilly & Company. Frederick
O’Neal joined CSI in 1990 as Vice President and Treasurer, after serving
as President of Mark Twain Leasing, and most recently served as CSI’s
Senior Vice President and Treasurer. Mr. O’Neal is a Certified Public
Accountant, holds a B.S. degree in Accounting from the University of
Illinois and an M.B.A. from Washington University. As Executive Vice
President and co-CFO, Mr. O’Neal will oversee financial statements,
accounting, tax, contract processing, billing and accounts receivable.
CSI
is one of the largest independent computer leasing specialists in the
world, with operations in the US, Canada, Mexico, Brazil, Central America,
Germany and the United Kingdom, generating annual revenues in excess
of $500,000,000. More information on CSI is available at www.csileasing.com.
Sites
of Reference: http://www.csileasing.com CONTACT: Melia
Cothran Computer
Sales International, Inc. Phone
Number: 314-810-8979 Fax
Number: 314-997-7852 E-mail:
melia.cothran@csileasing.com
###
Press Release ########################################### “It’s
leadership.” by Christopher Menkin .Each
of the major associations leadership
is responsible for the decline in membership. As
John Deane of the Alta Group so well wrote in 2001 about leadership
in “The Perfect Storm,” ( http://www.leasefoundation.org/pdfs/perfectstorm.pdf)
it also applies to the fraternal and professional “clubs,” who’s membership
has declined for over two year. It’s
not consolidation or GE Capital buying all the major leasing companies
( actually the portfolio’s , not the companies and employees, as US
Leasing went from 186 to 6 and Colonial Pacific Leasing is similar...that’s
another story similar to larger banks buying smaller banks.) Are
leasing associations a “club?” Some aspects, yes. Leasing Associations
fulfill a purpose, whether you agree or don’t agree. They
represent your “business” as no chamber of commerce can; to
your colleagues, to your customers, to Washington ,D.C., and various
state capitals, and more importantly, perhaps, provide a
place to exchange ideas and information. In
the last two consecutive years, four of the five major national equipment
leasing associations lost membership. AGLF
EAEL ELA NAELB UAEL
The
National Association of Equipment Leasing Brokers (NAELB---pronounced
Nah-elb) gained, 45 in 2002. The
Association of Government Leasing and Finance lost the most then, 111,
not counting its executive director. It changed its leadership, Jorie
Lagerwey was replaced by Graham Hauck. ELA This
year, the Equipment Leasing Association lost the most to date: 80 members
from June to June. It was planned.
At the start of the demise in the leasing industry as evidenced
by the Leasing News List, the leadership decided to re-define their
role, their identity, and formed a special “task force.” Perhaps
foreseeing the coming changes in the industry, ELA leadership decided
to look at itself, its role, and the timing could not have been better. As the National Association of Equipment Leasing
did, they planned
their future. The three other
associations reacted to it. Among
the several changes that were made, perhaps the more “controversial” was
raising the minimum dues to $2200, and creating a minimal fee for members
who were active with a company that merger, been purchased, or is no
longer in business. ELA
President Michael Fleming summed it up: “There
are 177 members in the category that currently pays $1,200 in dues -
about 35% of the regular members. They pay 11% of the total dues." http://www.leasingnews.org/Conscious-Top%20Stories/ELA_taskforce.htm According
to Michael Henderson, director of ELA membership and marketing, the
June, 2003 breakdown was: Regular—428 Associate---250 Business
Unit---11 International-25 Arranger-23 “In
the dues category (that was adjusted to $2200) we have 140 that did
not renew for 2003 (compared to 57 in 2002),” Henderson added. That’s
$168,000 out of your “gross income.”
To
look at an association from a “body count” appears to be misleading,
especially in
this instance. While this financial loss may indicate a major concern,
but in reality, services have improved, more features have been added,
more news, involvement in key projects such as “Capital Hill” and the
list serve has never been as
active with great leads, communication, and information. The
major leasing corporations appear to be have more attention to their needs
being addressed, and therefore appear more interested than before. The
staff is more responsive; committees appear to functioning, and more members are getting involved.
There even appears an undercurrent to expand into foreign
leasing marketplaces, such as Europe and elsewhere. All the members are
receiving better benefits for the dollar they spend on belonging to
ELA. “The
Equipment Leasing Association exists to promote and serve the general
interests of the equipment leasing and finance industry by providing
programs of benefit to the industry and its members; providing information,
education and communications to the membership and the public;
leading in the resolution of general industry problems, and promoting
high standards of business practices within the industry. “ELA's
most valuable main offerings are: * Business Development Opportunities * Industry Information * Professional Development & Competency * Industry Advocacy * Access to Capital “Most
important, ELA is a strong and healthy trade association because it remains
true to its mission. “For
ELA programs to be of maximum value to the membership, each member company
must impart value through participation and involvement. Michael
Henderson Director,
Membership & Marketing Equipment
Leasing Association 4301
N. Fairfax Drive, Suite 550 Arlington,
VA 22203 703.527.8655;
Fax: 703.527.2649 <http://www.elaonline.com> http://www.elaonline.org/AboutELA/ NAELB The
National Association of Equipment Leasing Brokers leadership actually
planned their role earlier than ELA. In May, 2000 they let
go their very popular executive director Cindy Spurdle. http://www.leasingnews.org/whateverhappenedto/sprudle.htm The
membership was livid. The reality
was not her performance. Remind
you, she worked for the United Equipment Leasing Association for
a time being, and it was talked at one time she would be the executive
director ( but she didn’t want to move, many said.) She now
works supporting the executive director of the Eastern Equipment
Leasing Association and as director of the Certified Leasing
Professional Foundation. The
board didn’t like the direction, acquiring assets, setting up an office,
looking like their were re-building a UEAL type organization. Their
goal was to have very low membership dues to attract new members,
to continue to hold meetings at inexpensive hotels, not
promote golf, and have members not only vote from the floor for
directors but to get directly involved in the conferences. A
professional management organization would be more effective, they
decided, and the goal was to keep the costs low. NAELB
has the lowest rate to join. All
brokers can join for $295 a year and
get all the full benefits. There
has always been controversy whether “funders”
should join, and while they may, they don’t have any voting rights
and pay a larger fee to mingle with potential sales sources. Perhaps
the major change is the involvement of ex-UAEL and current UAEL
members, such as the former UAEL membership chairman Ginny
Young serving on the conference
committee or CLP champion Bob Teichman, who currently is on the UAEL
board, serving on the same committee. In
Leasing New’s 2002 survey, we found many belonging to two leasing associations. You will see from the email that follows part
1 that many belong
to three leasing associations, plus most funders belong to at least four. For years, active UAEL directors were also
active directors or committee
chairman for ELA. “A
few years ago we went to a January 1 billing system for our membership,
“explains NAELB President Bob Bell as the reason for the June to June membership
drop. “In
an effort to make membership even more affordable (I don't know how
you can
get much more affordable than $295.00 a year) we adopted a mid year membership
of $150.00. This means anyone wishing to join can get all of our
benefits ($7.95 for overnight letters with no weight limit, $2.00 credit
reports, .039 per minute long distance, $1.00 BusinessCreditUSA reports,
access to the online leasing forum, legal support, and many more)
for this reduced priced. “The
credit reports for $2.00 is an NAELB exclusive and is formatted expressly
for leasing professionals. It contains a "quick look" summary,
scoring model, 24 months of inquiries, online directory, and much
more relevant information. All for two bucks! “If
anyone wishes to join our merry band of men and women they can e-mail Tammy
Marsh at tammyh@clemonsmgmt.com. We hope to have 500 by the end of
the year. “Associates
-13 Brokers
-380 Funders
-44 Total
-437 members” “I
thought I would give you a heads up on the up coming NAELB Summer Board
of Directors meeting," Bob Bell e-mailed recently " Every
year we meet for a weekend in the summer at the facility where we will
be holding our next Annual Conference.
The 2004 conference will be at the Alexis Park Hotel in Las Vegas
April 29-May 1. This is an all suite hotel and we have negotiated very
reasonable rates. The decision to have it in Las Vegas reflects how
universal our membership has become, as we now have as many West Coast
members as we do in the Southeast. “Here
are a few examples based on the survey: .
69% of our member companies have been in business over 5 years. The
geographic breakdown goes like this: Northeast
18%, Southeast
26%, Midwest
20%, Southwest
12%, West
Coast 24%. 86%
use the internet daily. 59%
responded that they were highly or moderately involved in financial
package transactions. “This
is certainly not the ‘old NAELB’. “This
year we've added an extra day (in Las Vegas) to allow Cal Clemons, owner
of our management
company, to give us the benefit of his three decades of Association
Management expertise by conducting a strategic planning session.
This was the idea of our former President Gerry Egan and was scheduled
last fall. What a concept, planning in advance for a strategic
planning session! After Cal's intensive 8 hour interactive session,
the Board will examine in detail the 56 pages gleaned from the survey
and make long range plans based
on our member's responses. “We
will be announcing shortly our Fall Regional Meetings. After the incredible
success last year with our meeting in Marina del Rey with over
120 attendees, we have decided to have two this year. The West Coast
Regional will be in Irvine on September 19-20 and Atlanta on November
7-8.” September
19,2003 Irvine,
California Regional
Conference November
7-8, 2003 College
Park, Georgia Regional
Conference Agenda
and more information available at: http://two.leasingnews.org/temporary/NAELB%20flyer%202003.pdf Certainly,
NAELB is no longer your grandmother’s automobile. They plan
ahead. Tomorrow: The three leasing
association who “reacted.” Leasing Association Comments from Readers: I
personally think anyone big or small, who does not belong to at least one
Leasing Association is crazy. It's
no different than any other professional
who needs to have their skills honed and upgraded at least once
a year. I feel this certainly
is true for funders and brokers alike. As
a charter member and Past President of the NAELB, I have found that membership
to be invaluable. You get to
know others in the industry and you
get to be known. Hopefully you
will be known and respected by many folks
who can help you succeed, as well as being in a position to help others
learn, grow and prosper. It's
a wonderful two-way street to be strolling and/or running down, when
suddenly you need help or advice in your business. It's also nice to
make friends with peers who are not potential competitors so you can freely
share information. My company
was blessed last year and able to double
our business. It was almost
embarrassing to talk to other folks who
were crying the blues about how bad things were.
We are continuing this
year with another 20% growth in the first 6 months.
Without the things
I learned and the people I met in the NAELB, none of that would have
been possible. Thanks and hats
off to the NAELB Founders and the hundreds
of you that continue to support that organization. For
any of you that don't agree with the way any of the Associations are being
run or the directions they are taking, feel free to contact their officers
and board members and discuss your views.
Better yet, find out how
you might assume a leadership role within the Association if you feel
you have talent and ideas to offer.
Be a participator, now a complainer! Be a winner, not a whiner! Ciao
and best of luck to all of you! Gerry
Oestreich Adirondack
Leasing Associates Ltd PS Sorry Kit, I couldn’t shorten this up! There's just too much good to say
that really has to be said! --- ----- On
the subject of Associations...Boston Financial & Equity belongs
to the ELA,
EAEL, UAEL, CFA (Commercial Finance Association), TMA (Turnaround Management
Association),ELFF(Equipment Leasing & Finance foundation), ACG (Association
for Corporate Growth) and the MIT Enterprise Forum. As
Randy Haug said it...belonging to an association should be considered
a marketing
and sales tool..not an expense as such. We have made valuable contacts
from each association. I have sourced new deals, made new friends, used
many an attorney, equipment appraisers/auctioneers, bank contacts, received
advice, asked advice, educated myself as well as my employees, received
the benefits of government lobbying efforts, UCC information, new legal
developments...etc etc etc. Why would anyone NOT belong? To
take it a step further..I am on the boards of 3 of these organizations and
have enjoyed every minute of it. Yes, its takes some time out of my schedule
but it is worth the time and money.
Not only have I been able to get to know
a great group of people in a smaller setting...I get to give back to the
industry and am able to put my 2 cents in (which most times is more
than just
2 cents)...why just sit back and let everyone else do the work? Think about
not just joining...but joining a committee..you may find it's actually fun
and enjoyable. Sincerely, Deborah
J. Monosson President BOSTON
FINANCIAL & EQUITY CORPORATION 20
Overland Street Boston
MA 02215 617-267-2900
Tel 617-437-7601 --- I
work for a large finance company and I am sure they have corporate
leasing association memberships, although they want us
to be more active in trade organizations... construction. I
think a connection to your target industry is very important.
When I serviced the electronics industry I joined the
SMTA( Surface Mount Technology Association ). I became the
chapter president for 3 years. It was a big boost for my career.
I am now a member of the AGC. There
is only so much time for organizational work. I think the
big choice is whether to be very active in a targeted trade
industry or leasing organization. Maybe a better option is
to be somewhat active in both. Given
the state of the leasing industry, it is important to at
least receive leasing industry news sources such as The Monitor
and Leasing News. Best
Regards, Brian
Carey CIT e-mail: brian.carey@cit.com phone
number: 408/997-2456 fax
number: 408/927-8069 Cell: 408/623-5571 --- Regarding
today’s leasing associations… The
promotion of “education, fellowship, and betterment of one’s occupation”,
might be a just and noble cause; however, my 35 years (I told
you I was a “Jurassic Lessor”!) in this industry have primarily been
motivated by my desire to make money. I
have long supported our industry associations, but I do think they have
lost sight of the real mission. I founded the Lessors Network to accomplish
one simple objective, to provide a forum for the proactive participants
in our industry to identify new business opportunities. We leave
the education, political action committees, etc, to the associations,
and I think they’re doing a good job, but I can’t remember the
last time I found a real business opportunity at one of their meetings. I
don’t know about the rest of you, but I’m interested in closing deals and
making money. After that I'll play golf. Remember, it’s all about networking! The
Last Capitalist (grin) John
Semon The
Lessors Network --- (
More reaction tomorrow ) --------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------
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http://www.leasingnews.org/contact_us_news.htm This
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you may click
on the headlines to go to the story, plus is also in this "new"
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Briefs--- Bond
Prices May Fall, but the Market Can't Really Crash http://www.washingtonpost.com/wp-dyn/articles/A14114-2003Aug2.html As
interest rates rise, bond mutual funds pummeled http://www.usatoday.com/money/markets/us/2003-08-04-bonds_x.htm Market for Guaranteed Bonds Shriveling http://www.absnet.net/include/showfreearticle.asp?file=/headlines/aba.htm Prepayments
set for slowdown in the fall http://www.absnet.net/include/showfreearticle.asp?file=/headlines/asr.htm Why rates leaped for business
mortgages. New tax laws changes stock option
strategies
Sports
Briefs--- Redskins
re-sign QB Wuerffel http://www.theredzone.org/news/showarticle.asp?ArticleID=222 Stram's
taped speech highlights Hall enshrinement http://www.theredzone.org/news/showarticle.asp?ArticleID=221 Terrell
Davis: "I've Pretty Much Moved On" http://www.denverpost.com/Stories/0,1413,36~86~1549556,00.html Emmitt
rips Cowboys in Sports Illustrated article http://eastvalleytribune.com/index.php?sty=7888 Tyson's
finances down for the count, Files Chapt. 11 http://www.usatoday.com/sports/boxing/2003-08-03-tyson_x.htm This
Day in American History and Two French Events--- 1693
- It is believed that a monk named Dom Perignon invented champagne at
the Benedictine Abbey of Hautvillers in the region of Champagne, northern
France. He made the first champagne by re-fermenting a certain wine
in the spring and then placing it in strong, sealed bottles so that
the wine would become sparkling. Dom Perignon was the Cellar master
for 47 years until his death in 1715. The sparkling wine was crude and
perhaps the first one to produce what we drink today was Mme. Nicole-Barbe
Clicquot, who developed the sur pointe process that clarified the sediment
out of sparkling wines. She was also an astute business person, especially
in a day that women did not run business. Nicole Barbe Clinquot was the daughter of the mayor of Reims who
at 20 was widowed with a daughter after three years of marriage to a
vintner. She vowed to carry on her husband's business.
She developed the process of remuage (moving) in which the bottles
of wine are stored upside down (on their corks or sur pointe) and then
the bottles are shaken periodically and then rotated to force the sediments
in the wine to settle down on the cork.
After a certain period, the cork is quickly removed, the sediment
is expelled by the wine gases and then the bottle is quickly re-corked.
The widow Clinquot also invented pink champagne. My favorite in Louis
Roederer, but a Grand Madame Clinquot, now that is a fine sparkling
wine! Here
is a secret. You can serve “Champagne”
with everything. If you cannot match
a wine to a food, serve “Champagne.”
Next, a very good beer. Don’t laugh,
some fine beer goes with everything ( especially if it is “fresh.”)
http://www.umc.fr/encyclopedie/vignes_au_plaisir/veuve_clicquot.htm 1735 - Freedom of the press was established
in the United States when John Peter Zenger, publisher of the New York
Weekly Journal, won an acquittal of the libel charges placed by Gov.
William Crosby. The royal governor had tried to censor Zenger's attacks
on the British crown. 1753 - George Washington became a Master Mason. http://memory.loc.gov/ammem/today/aug04.html1790-U.S.Coast
Guard founded. http://www.uscg.mil/hq/g-cp/history/collect.html 1810-Birthday of abolitionist Robert Purvis.
He ran all the Underground Railroads from his home and was the founder
of the American Leasing Anti-Slavery
Society. http://www.nyjournalnews.com/blackhistory/purvis.html http://www.spartacus.schoolnet.co.uk/USASpurvis.htm 1830- Plans for the city of Chicago laid out. http://www.1upinfo.com/encyclopedia/C/Chicago-history.html http://www.aviewoncities.com/chicago/chicagohistory.htm 1838-Emancipation of slaves in the Bahama’s and Grenada this day by the
British . A rumor started in the South that salves would try to escape
to the Bahama’s and fear of this lead to stricter attitudes and positions
of slavery, especially by the many large slave owner who relied on the
“free” labor at their farms, called plantations. 1873- While protecting a railroad survey party
in Montana, Custer and his 7th Cavalry clash for the first time with
the Sioux Indians, who will defeat them three years later at Little
Big Horn. During the previous two years, Lieutenant Colonel George Armstrong
Custer and his 7th Cavalry had not fought a single battle against the
hostile Indians of the western Plains. Hungry for action, Custer was
pleased when the 7th Cavalry was ordered to help protect a party of
surveyors laying out the route for the proposed Northern Pacific Railroad.
The new transcontinental railroad (the third in the United States) was
to pass through territory controlled by hostile Sioux Indians. Custer
was optimistic that the assignment would give him a chance to improve
his reputation as an Indian fighter. Initially, the military escort
saw little action. The hostile Indians seemed to be avoiding or ignoring
the survey party. For Custer, the mission turned into something of a
lark. He spent much of his time shooting buffalo, antelope, elk, and
other animals. To find good hunting, he often led the 7th Cavalry far
away from the survey party and the main body of the military escort. On
this day in 1873, Custer was far ahead of the rest of the force, camping
along the Tongue River in southeastern Montana. Suddenly, a large band
of Sioux warriors appeared on the horizon and attacked. The Indians
were led by Crazy Horse and Sitting Bull, but the young braves seemed
to have attacked impetuously and with little planning. Custer, who had
been taking an afternoon nap, reacted quickly and mounted an effective
defense. After a brief skirmish, the Indians withdrew. Since only one
soldier and one Indian were killed in the skirmish, Custer's short battle
along the Tongue River seemed relatively insignificant at the time.
However, Custer's easy escape in his first encounter with Sitting Bull
and Crazy Horse may have given him a dangerously scornful view of their
fighting abilities. It helped to confirm his belief that the Plains
warriors tended to flee rather than fight. As a result, when Custer
again encountered Sitting Bull and Crazy Horse at the Little Big Horn
River three years later, his greatest fear was that they would withdraw
before he could attack, and he rushed in without proper reconnaissance.
That time, though, the Indians stood and fought, leaving Custer and
more than 200 of his men dead. 1874 -Methodist clergyman John H. Vincent
(1832-1920) and Ohio manufacturer Lewis Miller established the Chautauqua
Assembly in northwest New York state a summer retreat center combining
recreational activities with the training of Sunday School teachers
and other church workers. 1875 - The first Convention of Colored Newspapermen
was held in Cincinnati, Ohio. The convention's aim was to promote the
establishment of United States newspapers that would focus on the African
American community. 1881- 122ø F (50ø C), Seville, Spain (European
record) 1897-Blackman Henry Rucker appointed Collector
of Internal Revenue for Georgia http://www.ga3d.net/sweetauburn/rucker.htm 1900-Louis Armstrong, Jazz musician extraordinaire
born at New Orleans, LA. Died at New York, NY, July 6, 1971. Perhaps
the greatest jazz trumpet player who
ever lived. Asked to define jazz, Armstrong reportedly replied, "Man,
if you gotta ask, you'll never know." The trumpet player was also
known as Satchmo. He appeared in many films. Popular singles included
"What a Wonderful World" and "Hello, Dolly" (with
Barbra Streisand) and “High Society.” Two of my favorite albums
are “Armstrong Plays W.C. Handy” and “Ella and Louis.” http://www.redhotjazz.com/louie.html http://www.amazon.com/exec/obidos/search-handle-form/103-5362656-4423850 Best
Louis Armstrong Vocal: My
favorite single Armstrong Album: 1904-Trumpet player Bill Coleman birthday,
Centreville, KY1904-pianist/alto sax/trumpet player Kenneth Anderson
born Pittsburgh, PA (see
the list: http://jazzinstituteofchicago.org/index.asp?target=/jazzgram/bronzeville/union/part3.asp ) 1905- Piano player Joseph Louis “Red” Cayou
born New Orleans, LA" ,
LA Died May 12, 1994. 1910-Birthday of American composer William Howard Schuman who won the first Pulitzer
Prize for composition and founded the Juilliard School of Music, born
at New York. His compositions include American Festival Overture, New
England Triptych, the baseball opera The Mighty Casey and On Freedom's
Ground, written for the centennial of the Statue of Liberty in 1986.
He was instrumental in the conception of the Lincoln Center for the
Performing Arts and served as its first president. In 1985 he was awarded
a special Pulitzer Prize for his contributions. He also received a National
Medal of Arts in 1985 and a Kennedy Center Honor in 1989. Schuman died
at New York City, Feb 15, 1992. 1916 - Denmark agreed to cede the Danish West
Indies, including the Virgin Islands, to the United States for $25 million.
The deal took effect the following March 31. 1919-Birthday of Glenn Clarence Cunningham,
the "Kansas Ironman," American track athlete and 1934-37 world
record holder for the mile, member of the US Olympic teams in 1932 and
1936, was born at Atlanta, KS. On June 16, 1934, at Princeton, NJ, Cunningham
set a world record for the mile (4:06.7 min). Cunningham died at Menifee,
AR, Mar 10, 1988. 1920- Birthday
of Helen Thomas - U.S. journalist..
One of nine children of Lebanese immigrants who arrived in the
U.S. with $17, she worked her way through college. Her parents ran a
grocery store. Her parents kept the accounts in their heads because
they could not read or write. Like typical immigrants who wanted a better
life for their children, they encouraged Helen Thomas and all of her
sisters and brothers to get an education She went to Washington, DC
got a job for the-then United Press (later United Press International)
to write women things for radio but her ambition and willingness to
work on her own enabled her to move up to covering the Justice Department,
various government agencies, even Congress.
After covering, mostly on her own, the newly elected John Kennedy,
she began attending White House press conferences, also on her own. She was promoted to White House correspondent
in 1970 just in time for the Watergate scandals. She was the only member
of the print media to accompany President Nixon on his noted trip to
China in 1972. She became bureau chief in 1974, the first woman to ever
hold such a post with any news service.
She made friends with Martha Mitchell, the wife of Nixon's attorney
general John N. Mitchell who was jailed for his involvement in the Watergate
break-in cover-up. Martha Mitchell, in late night phone conversations,
confided to her suspicions and outrage over the Watergate
incident and attempts to hide it. A determined feminist, she forced the National
Press Club to "allow" women journalists to attend the luncheon
that would be address by visiting Soviet premier Nikita Khrushchev.
Thomas later became an officer with the Press club and would become
president of the Gridiron Club, an exclusive press organization. Her questioning of presidents, demanding that
they be held accountable made her many enemies, but she was seen as
one of the most reliable reporters in Washington. Because of her Lebanese
ethniticity, she was accused of being pro-Arab, which she was not. Such
as charge of prejudice was never made towards any male reporter no matter
what their religion, ethnic background, or social connections were. Because of her seniority, she had the singular
honor of being the regular whose dignified "Thank you, Mr. President"
signaled the end of White House press conferences. But before the honored
phrase, she was known to ask devastating and perceptive questions of
all eight of the presidents she reported on. She was tough, shrewd,
and always fair gaining respect from all of the eight presidents she
made squirm with her no nonsense questions. She was one of the few reporters
who sought answers rather than positioning themselves for promotions. When UPI was sold in May 2000 to a communications
corporation with ties to the Unification Church that owns a right-wing
newspaper, MT, 79, said she'd step down. She said she intends to write
a book, may syndicate a column, and give speeches. "Presidents come and go, but Helen's
been here for 40 years now, covering eight presidents and doubtless
showing the ropes to countless young reporters and, I might add, more
than a few press secretaries," President Clinton said at her retirement. "Whatever she decides to do, I'll feel
a little better about my country if know she'll still be spending some
time around here at the White House. After all, without her saying,
'thank you, Mr. President,' at least some o us might never have ended
our news conferences," he said. "Even though she has her own opinion,
her reporting is straight down the middle and it's all hard news - none
of this analysis and chin-stroking that goes on in journalism today,"
former White House press secretary Mike McCurry said. 1921-guitarist Herb Ellis born McKinley, Texas http://www.arjazz.org/artists/hof/1994/94_herb_ellis.html http://www.classicjazzguitar.com/artists/artists_page.jsp?artist=12 http://www.guitar-masters.com/Players/Player-Ellis.html http://www.canuck.com/jazz/Ellis.html 1927 - The General Electric Station in Schenectady,
New York, station 2XAG which was later named WGY, began experimenting
with operations from a 100,000-watt transmitter. The FCC would later
regulate the power of AM radio stations to not go over 50,000 watts
on "clear channels" where few stations would interfere with
each other. 1927 - For Victor Records in Bristol, Tennessee,
singer Jimmie Rodgers recorded his first songs. On the record he sang
"Sleep Baby Sleep" and "Soldier’s Sweetheart". 1933-Sax player Sonny Simmons born Sicily Island,
Louisiana. http://www.gallery41.com/JazzArtists/SonnySimmons.htm
http://www.vh1.com/artists/az/simmons_sonny/bio.jhtml http://www.hollowear.com/reviews/simmons.html http://ubl.artistdirect.com/music/artist/bio/0,,493395,00.html?artist=Sonny+Simmons 1934
- The first major league baseball player to score 6 runs in one game
became Mel Ott today. 1936-"Long" John Woodruff wins an
Olympic gold medal in the 800-meter run http://www.fay-west.com/connellsville/historic/woodruff.php http://www.greaterconnellsville.org/woodruff/commemorativeprintform.htm 1940 - "Crime Doctor" introduced
a new radio hero. CBS radio presented Dr. Benjamin Ordway, the show’s
main character, as an amnesia victim. A former criminal, he got hit
on the head, and began to work as a crime fighter. 1944 - Nazi police found Anne Frank and her
family, hiding in secret rooms above her father’s factory in Amsterdam,
Holland. Anne was 15 years old at this time and had kept a diary during
the two years of hiding from the Nazis. After the arrest, Anne and her
sister were taken to a concentration camp. Anne Frank would die at Bergen-
Belsen. Later Anne's diary was found and has since been translated into
30 languages, and adapted as both a play and a Hollywood film. 1947---Top Hits Peg
o’ My Heart - The Harmonicats That’s
My Desire - The Sammy Kaye Orchestra (vocal: Don Cornell) I
Wonder, I Wonder, I Wonder - Eddy Howard Smoke!
Smoke! Smoke! (That Cigarette) - Tex Williams 1953-drummer Jeff Hamilton born Richmond,
Indiana http://www.hamiltonjazz.com/hamiltonbio.html 1954 - In Saskatchewan, Canada, the uranium
rush began. 1954 - Alfred Hitchcock's Rear Window had
its world premier at New York's Rivoli Theater. 1955---Top Hits Rock
Around the Clock - Bill Haley & His Comets Ain’t
That a Shame - Fats Domino Learnin’
the Blues - Frank Sinatra I
Don’t Care - Webb Pierce 1955 - To Catch a Thief, starring Cary Grant
and Grace Kelly and directed by Alfred Hitchcock, debuted in New York
on this date. The film later received an Oscar for Best Color Cinematography.
1956 - at Wendover, Utah, Wilhelm Herz was
clocked at 210 miles per hour, making him the first person to race a
motorcycle over 200 miles-per-hour. 1957 - A world record was set by Florence
Chadwick who swam the English Channel in 6 hours, 7 minutes. 1957 - Juan Fangio won his last car race,
winning the world auto driving championship for the fifth consecutive
year. 1958- Billboard magazine introduces its "Hot
100" chart, a list of the 100 best-selling pop singles in the country.
This list replaced multiple charts the magazine had previously published,
including Best Sellers in Stores and Most Played in Juke Boxes. The
first song to top the Hot 100 list was "Poor Little Fool"
by Ricky Nelson. 1958- Dumont TV Network crumbles. My father
was a producer/writer/director for the Dumont network, creating among
shows such as “Harlem Detective,” “Captain Video,” “Hands of Murder.” He met often with Dr. Dumont, who
he once gave one of the exploding cigars I put in his pocket as a kid. Dumont was a scientist and not a “showman,”
losing Jackie Gleason
among others. My father worked
right under Ted Bergman, who
I remember my father respected, but Dr. Dumont was not a
businessman ( nor was my father. ) http://members.aol.com/cingram/television/dumont2.htm http://www.museum.tv/archives/etv/D/htmlD/DuMont/DuMont.htm 1961- 108ø F, Spokane, WA (record) >http://aviationweather.gov/wxfact/AUG.html 1962-Jamaica Independence Day. National holiday
observing achievement of Jamaican independence form Britain August 6,
1962. Annually the first Monday in August. 1963---Top Hits So
Much in Love - The Tymes Fingertips
- Pt 2 - Little Stevie Wonder (You’re
the) Devil in Disguise - Elvis Presley Ring
of Fire - Johnny Cash 1964-After disappearing on June 21, three
civil rights workers were found murdered and buried in an earthen dam
outside Philadelphia, MS. The three young men were workers on the Mississippi
Summer Project organized by the Student Nonviolent Coordinating Committee
(SNCC) to increase black voter registration. Prior to their disappearance,
James Chaney, Andrew Goodman and Michael Schwerner were detained by
Neshoba County police on charges of speeding. When their car was found,
burned, on June 23, President Johnson ordered an FBI search for the
men. 1971---Top Hits You’ve
Got a Friend - James Taylor Mr.
Big Stuff - Jean Knight Draggin’
the Line - Tommy James I’m
Just Me - Charley Pride 1972
- Superfly, starring Ron O'Neal, opened in theaters. Starring Ron O'Neal
and directed by Gordon Parks, Jr., Superfly's success at the box office
and unexpected acclaim prompted two sequels. The plot centers on a Harlem
drug dealer who wants to retire. Curtis Mayfield's dynamic soundtrack
set it apart from similar low-budget films. 1979---Top Hits Bad
Girls - Donna Summer Good
Times - Chic Ring
My Bell - Anita Ward You’re
the Only One - Dolly Parton 1981 - A United States court ordered striking
air traffic controllers back to work and fined their union $2.4 million
a day for the duration of the strike. 1983 - During warm-ups, New York
Yankee outfielder Dave Winfield threw a baseball and accidentally killed
a seagull. When the game was over, Toronto police surrounded the batter
and arrested him for "causing unnecessary suffering to an animal." 1987---Top Hits Shakedown
- Bob Seger I
Still Haven’t Found What I’m Looking For - U2 I
Want Your Sex - George Michael Snap
Your Fingers - Ronnie Milsap 1995- Long time coach Jimmie Reese, whose 23 years in an Angels uniform
equals longest in club history is inducted into the Angels' Hall of
Fame. The former roommate of Babe Ruth began his career as a batboy
for the Pacific Coast League's Los Angeles Angels in 1917. 1995 - Babe, the charming sleeper hit about
a pig who learns to be a sheep dog, debuted in United States movie theaters.
The gentle film, with state-of-the-art computer technology, thrilled
audiences young and old, and the film garnered many awards and nominations,
including the Golden Globe for Best Motion Picture - Comedy/ Musical,
and it was nominated for a Best Picture Oscar. Veteran actor James Cromwell
received an Oscar nomination for Best Supporting Actor for his role
as Farmer Hoggett, and director Chris Noonan received the New York Film
Critics Circle Awards for Best New Director. The National Society of
Film Critics declared it Best Film of the Year. Christine Cavanaugh
supplied the voice of the hero pig, and Roscoe Lee Browne was a moving
narrator. Babe was based on the book "The Sheep-Pig" by Dick
King- Smith. 1997 - The world's oldest person, Jeanne Calment,
died aged 122 years and 164 days in Arles, France.
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