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Monday,
August 16, 2004
Headlines---
Classified
ads---Asset Management
Leasing
Icon Ira Romoff Back in Business
Archives-Signature
to Run Personal Credit
Alliance
Funding Group & CapitalWerks Respond
Readers
on the NY Times Article
ABS
market at typical August pace
SBA
Breaks All-Time Loan Record
Lessors
Network Launches “Discounted Events”
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
Help
Wanted Ad Hiatus
Effective
today we will stop taking "help wanted" ads until September
7th. The only exception will be advertisers who understand there will
be no new edition from August 31st through September 7th.
We
will continue all “free ad” activity.
No “help wanted” new ads will be posted during this time period until September 8th as Kit Menkin will be on vacation.
-------------------------------------------------------------------------------
|
Your One stop solution for training and reference material for the Leasing Professional
www.theleasinglibrary.com |
Classified
ads---Asset Management
Austin, TX.
20+ years exper. lease/finance. P & L responsibility, strong credit & collection management, re- marketing& accounting. Computers, construction, auto & transportation. Both commercial/ consumer portfolios.
Email: kmalone@austin.rr.com
Bloomfield Township,
MI.
15+ yrs experience
asset management and credit analyst.
E-mail: cmcozzolino@msn.com
Chicago, IL.
MBA, 15+ years exp. Long history of success in maximizing residual position through outstanding negotiation skills & lease contract management. Third party re-marketing, forecasting etc...
Email: jgambla@aol.com
Oxnard-Hollywood
Beach, CA.
19 Years w/Equity
Analysis/Placement and Residual Forecasting of Computer Assets. Portfolio
Manager for Two Major Lessors and Strong Analyst Background w/Leading
Information Services Firm.
Email: GregoryMLorenz@aol.com
Princeton, NJ.
Asset management/credit/collection
20+ years experience in equipment financing. Last five years in Asset Management including remarketing, end of lease negotiations, equipment and market evaluations
E-mail: bgaffrey@earthlink.net
(full list of ads
available here: http://64.125.68.90/LeasingNews/JobPostings.htm)
-------------------------------------------------------------------
Leasing
Icon Ira Romoff Back in Business
“JUST A QUICK NOTE
TO LET YOU KNOW THAT I'LL BE STARTING UP A NEW LEASING COMPANY FOR INDEPENDENCE
COMMUNITY BANK IN NYC STARTING 9/1/2004!
“WE'RE HIRING OPERATIONS,
SALES AND CREDIT PEOPLE NOW.”
IRA
IRAROMOFF@AOL.COM
CELL 201-776-7040
HOME 201-995-9594
-------------------------------------------------------------------------------
Economic
Events this Week
August 17
Tuesday
Consumer Price Index:
July
Housing Construction:
July
Industrial Production:
July
August 19
Thursday
Leading Indicators:
July
Weekly Jobless Claims
-------------------------------------------------------------------------------
Archives, Aug 16,2000---
Signature
Required to Run Personal Credit
“The FTC states that
a consumer credit report may not be used for any purpose, nor may it
be obtained for any purpose, even for a business transaction, without
the prior written consent of the consumer in accordance with the Fair
Credit Reporting Act. The language of the FTC letter is unequivocal,
and the Commission's position is the same.”
Rob Yohe
"Helping Friends
Get Funding From Friends"
------------------------------------------------------------------------
Alliance
Funding Group & CapitalWerks Respond to NY Times Story
(Here is the original
story in the New York Times, if
Let the Renter of Equipment Beware
http://www.nytimes.com/2004/08/12/business/12sbiz.html?pagewanted=all
Alliance Funding
Group:
-- funded well over
5,000 customers.
“The article published
on August 12, 2004 cannot be more erroneous! Fact: Alliance Funding
Group Inc. did fund a couple of leases for Connie’s Disposal Service,
Inc. Fact: All of the monies have been applied to the leases and/or
have been refunded. I have personally left a message for Terrance
Chester (Accounts Payable Manager) without a return phone call.
“As for the complaints
on Better Business Bureau, we have been diligent about responding to
each and every complaint with BBB.
We have a total of 15 complaints and have funded well over 5,000
customers. That equals to three tenths of a percent.
Perfect? Not perfect, but we attempt to meet the expectations
of ALL our customers.
“Without getting
into specifics about each and every complaint, we choose to retain deposits
when one of a couple scenarios unfolds.
A.) There is an attempt to “fraud” the lender. B.) The client
backs out of the transaction while in funding with no material changes
on our end. Our lease proposals/documents clearly spell out the above
conditions of the deposit monies. This has been our policy and we are
not looking to change that in the near future.
This policy provides us the assurance to fund small ticket leases
efficiently in a competitive landscape.
“We have funded over
$120million in small ticket equipment leases over the past six years. Our mission is to be a valuable partner with
our funding sources, our vendors, our lessees and at the same time manage
the business economics.
“As for Elizabeth
Olson of NY Times, she inquired about the treatment of deposit monies.
We addressed her questions openly and honestly.
With respect to Connie’s Disposal Service, Inc., she asked to
speak with someone. We indicated that we would pull the funded files
and answer her factually. She went no further.
We are actively seeking our counsel’s advice related to this
matter and we will update the leasing world as the story unfolds.”
Brij Patel, President
Alliance Funding Group
Anaheim, California
from CapitalWerks:
--- targeted to exceed
$125,000,000 this year,
up from $55,000,000 in ’03
“Most of the time
when one thinks of an inheritance, one’s mind conjures up images of
a nice little windfall. Well,
it seems we continue to pay (and pay!) the “death taxes”, in one form
or another, on behalf of some of the dearly departed leasing co’s, whose
assets we have acquired over the last several years (including, but
not limited to: Preferred Capital; MSM; Saddleback et al.), to the extent,
our projected and much anticipated “nice little windfall”, seems to
have morphed, once again, into a PR headache.
“Would that I had
known, that when acquiring a failed company’s assets, you inherit their headaches and the ensuing windfall to be had, may
take the form of detritus on spoiled fruit, with the decay’s lingering
effects, never quite dissipating with time.
“With respect to
the recent article in the small business section of the NY Times, much
of what Elizabeth Olson, a freelance writer for the NY Times, has opined
and alluded to, is a prime example of the fictional, creative writing,
masquerading as fact-based journalism, that the NY Times has in more
recent years, become infamous for and which has repeatedly landed the
paper in hot water. This journalistic fraud perpetrated by Ms Olson,
continues in this pedigree. It is nothing more than a thinly veiled
hatchet job perpetrated on CapitalWerks.
She willfully ignored the facts, as were clearly explained to
her in the numerous conversations with her over the last 12 to18 months.
Furthermore, not only has she lied to her readers, she has clearly deceived
her editors along the way. On who’s directive?
I am truly curious as to her motivations
“It is precisely
because of this sloppy style of journalism, the maxim, “the NY Times…the
paper of record”, no longer applies…the spirit of Jayson Blair? The Grey Lady is not what she used to be.
“She cites two examples
in her screed. One is a complete
fabrication and the other is a legitimate dispute between business entities,
both confident in their competing positions on the facts of the case,
of the sort that is a common practice and a daily part of commerce in
a capitalist society.
“Perhaps it is the
raw capitalist nature of our business that so offends Ms Olson’s delicate
eastern sensibilities. Perhaps
a day in the life of a hardworking commission-only sales rep – who wakes
up every day, essentially unpaid and unemployed, and who can only eat
after the kill – will shake her ivory tower sufficiently enough, to
awaken her to the realities that we, yes, the whole industry (as her
article is an indictment and smear on all of us, as attested to by the
ELA rebuttal), face daily. That we are the little people locked in a
daily struggle to survive, that she should take great pains to defend.
“An in-depth examination
of the daily regimen of the hardworking sales men and women who make
up our industry should be on her “to do” list.
These are real people who toil incessantly under the yoke of
quotas, with no minimum wage and confront daily, the rejection and thankless, unreciprocated courtship of would-be
clients. These are the one’s
who close these deals, then invariably end up suffering due to the lies
and distortions of their clients, then end up being sued for only doing
their job.
“Ms Olson would be
doing far more to assuage her conscience would that she sung the praises
of this forgotten class. They
are the true unsung heroes of the business world, and who should be
lauded as such, not vilified as Ms Olson alludes to in her smear on
our industry.
I have communicated
the many falsehoods, smears and distortions in her article to her editor,
Brent Bowers, in the several conversations I have had with him, while
out here in New York. His shock and surprise was genuine and he has
committed to conduct a serious investigation.
Furthermore, The NY Times legal dept. has been notified of the
immediate and on-going damages sustained by CapitalWerks, as a result
of this sloppy, fictional piece of journalism.
“Our position on
commitment fees was stated three years ago when this debate first made
your column. A policy adopted
and practiced by the majority of Lessors and brokers in our industry.
“Even after providing
verifiable proof to Ms Olson regarding the origin of these enumerated
complaints, she continued to disregard these facts and others. As I related to her and again to you, much
of these are the result of a lingering liabilities hangover from the
acquisition of Preferred Capital Corp., MSM Corp., and other asset acquisitions.
Although only the
assets were purchased, including their names and databases, unsecured
small creditors failed to understand the transaction and sought recovery
wherever possible. Even the
Neoforma situation was the result of several underwriters providing
approvals, and although funding some of the business, the commitments
for the balance vanished after 9/11, as did most venture leasing commitments,
during this difficult economic downturn.
Although CapitalWerks had a valid contractual claim for the majority
of the commitment fee, we agreed to return it in good faith.
“Our underwriters,
bankers, and funding sources applaud our approval to funding ratios,
as a result of providing them with committed transactions. Our agreements are written in bold, plain English, pursuant to how
all fees are applied. Clients
are well informed ahead of time on all structured transactions of the
work and time necessary to process their deals and the costs associated
with the work.
All one-sided, anti-business
stories are alike, in that they neglect to mention the good that is
done on behalf of SMALL BUSINESS, BY SMALL BUSINESS (without the government’s
help…here’s the real story, Ms Olson and the NYT should be focusing
on). Specifically, in this story, they neglect to mention the record-breaking
amount of small business finance provided by CapitalWerks, which is
targeted to exceed $125,000,000 this year, up from $55,000,000 in ’03,
and its positive effects on the health of small business hiring.
“This overwhelming
success can only be attributed to our much maligned and dedicated sales
and support staff, of which Ms Olson is so quick to discredit, and to
the many repeat customers and relationships they have cultivated.
“Our commitment to
propelling CapitalWerks to become an industry leader and small business
success story, is evident by our rapid growth and by offering the highest
compensation structure in the business.
All top producers
please forward your resume to Ashley Verb to join our team in over seven
major cities.”
Mark McQuitty
CapitalWerks/Preferred
Lease
MMcQuitty@preferredlease.com
for readers who did
not read Equipment Leasing Association President
Michael Fleming “Letter
to the Editor,” here it is:
from Michael Fleming,
President of
the Equipment Leasing Association:
Letter to the Editor:
“In Equipment Leasing Deals, Let the Renter Beware” (August 12,
2004).
“Dear Mr. Feyer,
“I would like to clarify a few points in the article “In Equipment
Leasing Deals, Let the Renter Beware” (August 12, 2004). The article
is misleading as it implies that so called “access fees” -- more commonly
referred to as application or commitment fees -- are unusual. The article
also suggests that such fees should always be fully refundable. Whether
a home mortgage, line of credit or an equipment lease, the application
or commitment fee document should clearly spell out the responsibilities
of the parties, including conditions such as refundability.
“ In most financial businesses it is common for credit application
fees or commitment fees to be part of the financing transaction. Similar
to loan application fees when applying for a mortgage, lessees pay a
commitment fee to a lessor. These fees pay for the research and due
diligence before credit is extended. As standard practice, commitment
fees aren’t refunded if the lease deal does not go through because the
organization needs to defray costs for work already conducted.
“Every day 30,000 to 40,000 leases are written for hundreds of
thousands of companies from small bakeries to multi-national companies
in the U.S. The overwhelming number of these transactions proceed routinely
as reflected by an industry-wide delinquency rate of less than 2 percent.*
“The industry, as a whole, produced between $100 billion and
$300 billion additional real GDP, produced between $227 billion and
$229 billion additional real equipment investment, and created between
three million and five million additional jobs between 1997-2002.**
“But, the most important contribution of the equipment leasing
industry lies in providing access to capital. If leasing were unavailable
many entities, from non-profit to private organizations, from tax-exempt
entities to public companies, would not be able to acquire the equipment
they need.”
Michael Fleming
President
Equipment Leasing
Association
*The Equipment Leasing
Association’s (ELA) 2002 Survey of Industry Activity (SIA) report.
**The Economic Contribution
of the Equipment Leasing Industry to the U.S. Economy, a study conducted
by Global Insight, a global economic and financial forecasting company,
August 2003.
------------------------------------------------------------------------
Readers
on the NY Times Article
Leasing News has
received many e-mails on this. We
are printing
only e-mails where
people would allow us to use their name, as
in this instance,
if you have an opinion, you will need to sign
your name to get
published regarding this issue;
“Really enjoyed the
article and your excellent reporting of it.
However...who cares what the NY Times thinks about our industry?
We don't tell them what to charge for newspapers and advertising do
we?The cost of the Sunday NY Times has become almost criminal.
“And then there is
always the issue of Jason Blair...the "honest
reporter”. So who the hell cares what the NY Times thinks?
And you can forward
this email all over the world for all I care.”
Steve Nardi
“ I don't suppose
they would print a correction, but they are implying that this is "typical"
in the leasing business. I
think we know it is
not...unfortunately, I guess, it is also not "uncommon"
enough.
“I will however call
the Better Business Bureau of the Southland (of
which I am a member)
and express my displeasure of his blanket agreement.”
Scott Wingate
swingate@gameplan-inc.com
GamePlan Financial, Inc.
“I too have written
a letter to the editor of the NY Times and I would
suggest that every
one else should as well. This article, while it may have merit in some
of its points, paints a very bad picture of the leasing industry as
a whole and the skepticism that will arise from prospective clients
will resonate to all of us who run ethical businesses.”
Deborah J. Monosson
President
Boston Financial
& Equity Corporation
1260 Boylston Street
Boston, MA 02215
617-267-2900
---------------------------------------------------------------------------
Classified
Ads---Help Wanted
Account Executive / Small ticket
leasing account reps
|
|
Credit-Funding-Operations
|
Credit Analyst: Seeking an energetic and organized Credit Analyst. At least one to two years of experience as a Credit Analyst in financial services (banking, insurance, leasing, or mortgage) is required. Funding Manager: Seeking a very organized, detail oriented Funding Manager. Minimum two years experience in brokering and discounting commercial equipment transactions is required. Operations Manager: Seeking an experienced Operations Manager with knowledge of all sides of operations. Must have a minimum of five years related experience. Send
email or fax to Ryan Johnson, Corporate Recruiter. |
|
|
Equipment Finance Sales Executive
|
|
Marketing Indirect Origination
 MARKETING INDIRECT ORIGINATION: New York. One of the largest ind. equip.lessors needs motivated, self-starter to purchase single investor leases from institutional investors; min.transaction $1 million; portfolio of primarily investment grade lessees/good "story credits". Min 3 yrs exp. sourcing/ originating leasing transactions, knowledge of credit and pricing. E-mail: jobposting1@leasingnews.org |
Senior Contract Specialist
|
|
---------------------------------------------------------------------------
ABS
market at typical August pace
ABSnet
Last week marked
another slow session in the U.S. ABS primary market, as August rolled
on and the Republican National Convention neared. As of Thursday evening,
roughly $4.8 billion in new-issue ABS had priced, while close to $2
billion in mortgage ABS was still making the rounds.
With the FOMC raising
short-term interest rates 25 basis points to 1.5% early in the week,
and a new set of disappointing employment numbers coming late the week
before that, the market had a lot to digest. However, secondary liquidity
improved dramatically on Wednesday, the day after the Fed’s announcement,
according to research from Credit Suisse First Boston. The overall tone
of the secondary market remains positive, CSFB analysts said.
Real estate ABS was
responsible for the bulk of volume, with about $4.7 billion having priced
for the week. AmeriQuest Mortgage had a big week and priced roughly
$3 billion in two separate transactions from its new subprime MBS shelf.
The first, pricing
Monday, was a $2.89 billion subprime MBS offering via Citigroup Global
Markets off AmeriQuest’s Park Place Securities Trust vehicle. The series
2004-WCW2 deal widened across the capital structure, with the triple-A
rated, 2.40-year notes coming in at 38 basis points over one- month
Libor versus guidance in the 35 basis point area over. The one-year
triple-A class came outside of expectations at 17 points over, while
the 2.7-year triple-A class was four points outside of talk, at 34 basis
points over. Meanwhile, the 5.20-year triple-B rated notes priced at
205 points over Libor relative to guidance in the 195 to 200 point range.
Later in the week,
AmeriQuest tapped the market again for $982 million in traditional home
equity led jointly by Banc of America Securities and Morgan Stanley.
The triple-A rated one-year notes were a touch wide at 17 basis points
over one-month Libor versus talk in the 16 basis point area over. Down
in credit, spreads tightened on the 5.02-year triple-B plus notes, pricing
at 190 points over one-month Libor versus guidance in the 200 basis
point area over.
Soundview Mortgage
was also in the market with $463.4 million in subprime MBS led jointly
by RBS Greenwich Capital and Wachovia Securities. The offering priced
largely in line with guidance, as both the 2.44- and 6.51—year triple-A
rated notes came on target at 16 and 35 basis points over one-month
Libor, respectively. The 4.73-year double-A rated notes priced wide
at 68 basis points over Libor relative to talk in the 65 basis point
area over.
Additionally, Barclays
Capital issued $392.5 million of home equity loan-backed notes off of
its SABR shelf. The spread on 2.63-year triple-A rated notes was 38
basis points over one-month Libor.
In the equipment
sector, Trinity Leasing came in with a $157.6 million transaction backed
by railcar leases via Credit Suisse First Boston, completed with a full
Ambac wrap. The single-tranche fixed-rate offering came in at 60 basis
points over swaps, the tight end of guidance.
At week’s end, GMAC-Residential
Funding Corp. was still shopping a $600 million mixed-collateral subprime
deal from its RASC shelf. The three-year triple-A rated notes were being
talked in the 50 basis point area over swaps. Meanwhile, price guidance
for the three-year, triple-A floaters was set at 28 points over one-month
Libor. — SM
-------------------------------------------------------------------------------
Dash in Kuwait Waters
(Dash
is in the middle)
My only son is 5’10;
all muscle. In the pictures
he looks smaller, I assume, but most of the men on this detail are “big.” He was in Florida when they asked him to try
out for the Seals, but wanted to finish he college courses and was very
glad that he did. He strung
mining wires in Nevada, two miles down, plus built “robots” when he
lived with me here, so has an electrical background.
My son Dash is an
electrician on the USS Preble. Sailors
also serve
many other positions,
such as he is a second class diver and is called
up when needed here,
plus he is an “expert” in light weapons ( plus
heavier machine gun
weapons” and participates in boarding
of small ships. He is a “hot dog,” as we used to say in the
US Army.
He is a professional,
whereas we were volunteers (in reality, we
thought it stupid
to volunteer for any extra duty, whereas my
son has certificates
in anything the Navy offers him, works out every day, and I don’t know
when he finds time to sleep.)
While off the coast
of South America, before going to Kuwait,
he participated in
“boarding” of ships in the high seas that
are suspected of
running cocaine, illegal goods, or do not
respond to registry
calls, and a few other things, he explained
one day.
He has been on nine
“boardings” since his arrival in the waters off Kuwait. He sends eMail
to me in “real time” on the internet, by the way. They are approximately
10 hours ahead of us. He says
it is night, 112 degrees in the sun and very humid. It is public knowledge
he is part of the Navy group that not only “transports” US Marines,
participates in landings, but “....... guarding the ABOT oil platforms
and all vessels in the area
are under our coalition forces.... we are smack dab in the middle of
the s**t that is making the news ....keeping America alive and doing
our jobs... It's what I was training for... now it's my routine... it's
my life and my teammates life.
Good night ... good
day to you!!!
I think of you always... I try to be honorable!
I honor you every day!
Dash”
(Dash:
far right )
### Press Release
############################
SBA
Breaks All-Time Loan Record
U.S. Small Business
Administration Administrator Hector V. Barreto announced that, with
almost two full months still remaining in the fiscal year, the SBA has
already backed more loans in its 7(a) and 504 programs than ever before
in its 51-year history.
As of August 6 –
eight weeks before the end of fiscal year 2004 – the SBA’s 7(a) loan
program had guaranteed 67,493 loans in fiscal year 2004, more than the
record 67,306 7(a) loans made in all of fiscal year 2003. In addition,
the agency has backed 6,974 loans through its 504 program, surpassing
the 2003 record of 6,863. The 2004 fiscal year ends on September 30.
When compared to the same time period last year, these record-breaking
numbers represent dramatic increases: 23 percent for 7(a) and 27 percent
for 504.
“In 2003, the SBA
set all-time records in its two major loan programs. It took us less
than a year to break those records,” Barreto said. “I am proud that
our loan programs, and especially our flagship 7(a), are growing and
reaching out to more small businesses than ever before. I am hopeful
that we can continue this trend, particularly if the President’s proposal
to make 7(a) self-sustaining is approved by Congress.
“Breaking records
like this is about more than making history,” Barreto added. “This is
good news for America’s small business owners. It means that we are
making a real difference in the lives of more and more entrepreneurs,
and that they are going on to make a real difference in our economy.
Over the last 11 months, American farms and businesses have created
1.5 million new jobs. We know that when the economy is growing and jobs
are being created, small businesses are always in the lead. They are
the engine of our economy, and I am proud to be able to work with President
Bush to help create an environment in which they are succeeding.”
Not only has the
SBA broken overall lending records, but it has also already exceeded
2003 numbers for some of the fastest growing segments of the small business
community. With almost two months still remaining in the 2004 fiscal
year, the SBA has already surpassed the total 2003 number of loans to
African Americans, Hispanics, Asian Americans, women and rural entrepreneurs.
When comparing with the same time period last year, the increases are
even more dramatic. Loan guarantees to African Americans, Hispanics,
and Asian Americans are 30 percent ahead of their totals at the same
date last year. Loans to women are up by 25 percent, and rural loans
are 11 percent ahead.
For more information
about the SBA, visit http://www.sba.gov.
### Press Release
############################
Lessors
Network Launches “Discounted Events” Service For Equipment Leasing Industry
Weeks before scheduled equipment leasing events, promoters would
rather discount unsold seats than to see them go empty
ATLANTA, GA ( The
Lessors Network has launched a new free service facilitating filling
unsold seats at industry networking events a few days before they begin.
Like retailers selling
overstock inventory on eBay, a few weeks before scheduled events, promoters
would rather discount unsold seats than to see them go empty.
Because of today's
busy schedules, many industry professionals may not be able to commit
to events months in advance; however, they may still be interested in
attending networking events scheduled in just a few days.
The Lessors Network,
the world’s largest equipment leasing network, now provides free advertising
for event promoter’s offering discounted attendee registration including
links back to their web site were attendee registration utilities are
available to prospective attendees.
For details, visit
- http://www.lessors.com/discounted-events.html
ABOUT THE LESSORS
NETWORK:
The Lessors Network
is a sales & marketing network facilitating new business development
opportunities within the corporate and municipal equipment leasing markets.
Networking showcases are traditionally held from the Ritz-Carlton in
Atlanta each spring and fall. Website programs and services provide
free access to news, events and important resources facilitating funding/syndication,
technology and outsourcing services exclusive to the equipment leasing
& finance markets.
Additional information
can be viewed at www.lessors.com
Contact:
John O. Semon
semon@lessors.com
### Press Release
##########################
News
briefs---
NYMEX Crude Hits
Record $46.90
http://cnn.netscape.cnn.com/ns/news/story.jsp?id=2004081
600450002310156&dt=20040816004500&w=RTR&coview=
Former S.D homeowners
find real estate profits go a long way
http://www.signonsandiego.com/news/business/20040815-9999-1n15goldpot.html
Empty Olympic stadiums
set off alarm bells
http://news.yahoo.com/news?tmpl=story&cid=1503&u=/afp/
20040815/ts_afp/oly_2004_gre_greece_040815143723&printer=1
Sports
Briefs---
Little to differentiate
Gannon from Collins
(What I saw: The
49ers stink with all their Oregon State
Where is George Seifert
when we need him? Fishing in Bodega Bay.
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/
archive/2004/08/15/SPGNJ88GVM1.DTL
Patriots have staying
power
http://www.sfgate.com/cgi-bin/article.cgi?f=/chronicle/
archive/2004/08/15/SPGNJ88GV11.DTL
------------------------------------------------------------------------------
“Gimme
that Wine”
Washington Wine-grape
harvest down about 3 percent from 2003
http://seattle.bizjournals.com/seattle/stories/2004/08/09/daily23.html
Napa Growers to Create
Registry of Historic Vineyards
http://www.winespectator.com/Wine/Daily/News/0,1145,2570,00.html
Madonna £500,000 to help her father's ailing wine business
http://www.sky.com/skynews/article/0,,30500-13189500,00.html
Wine, Freezers and
Freezing Points (better to add ice cubes)
http://wine.about.com/od/fridgesandcoolers/a/winefreeze.htm
---------------------------------------------------------------------------
August 16, 1929 Bill
Evans Birthday
http://www.downbeat.com/artists/window.asp?action=new&aid=50&aname=Bill+Evans
http://members.aol.com/gsonjazz/evans/be-home.htm
http://www.billevans.org/BBS/index.asp
1777-Bennington
Battle, a major victor for the colonial army, primarily because the
battle
was delayed by rain. The rain delayed British reinforcements, and
allowed the Vermont Militia to arrive in time, enabling the Americans
to win a victory by defeating two enemy forces, one at a time
http://darter.ocps.net/classroom/revolution/benn.htm
http://www.matmice.com/home/hockey
http://www.virtualvermont.com/history/benbattle.html
http://www.revolutionaryday.com/usroute7/bennington/
1780-In
the Battle of Camden, S.C., American forces under Gen. Horatio Gates
were defeated by the British under Gen. Charles Cornwallis. Baron Johann de Kalb, a Prussian officer who
was commissioned a general in the Continental Army, was mortally wounded
in the battle. Gates suffered
disastrous losses. Nearly 1,000
Americans killed and another 1,000 captured by the British. British
losses about 325. One of America’s worst defeats in the war.
General Washington replaced
gates with Nathaniel
Greene, who is credited with “brilliance” in turning the war situation
around
as outlined on his
birthday, August 7.
http://www.multied.com/Bio/RevoltBIOS/KalbJohann.html
http://home.sprintmail.com/~robtmarj/thecollinsfamily.html
http://www.co.dekalb.ga.us/history.htm
1812
-- A mass meeting in NYC denounces the War of 1812.
1812-Brigadier General William Hull surrendered Detroit to British forces under General Isaac Brock, making no attempt to defend the city though the attacking force was smaller than his own. Hull was court-martialed two years later for yielding without resistance.
http://www.factmonster.com/ce6/people/A0824487.html
http://www.cr.nps.gov/museum/exhibits/revwar/image_gal/indeimg/hullgen.html
1813-,
Sarah Porter - U.S. educator. SP created Miss Porter's school in Farmington,
CN, one of the outstanding school for girls in the nation.
Raised in an exceptional family that produced a president of
Yale College allowed her to study the classics to an extended degree,
this brilliant woman started her successful school in 1843.Initially
she kept the school small teaching Latin, French, German, chemistry,
natural science, mathematics, history, geography, and music in addition
to the basic subjects. She gradually added staff and accommodations
but took pains to maintain the schools standards which were unique in
the nation for their excellence. , She also demanded strong characters.
She was also way ahead of her times by insisting on daily exercise for
the girls.
1829-
Taking the country by storm, Robert Hung of Boston, MA, brought the
Siamese twins Chang and Eng into the United States. They were born on
April 15, 1811, in Bangesau, Siam, of a Chinese father and a -Siamese
mother. They were joined at the waist by a cartilaginous band about
four inches
long and eight inches
in circumference. They grew to be about 5 feet 2 inches in height, and,
since they faced
in the same direction, could walk, run, and swim. They were exhibited
throughout the United States and later in Europe.
They were married in April, 1843 to two sisters, Sarah and Adelaide
Yates. Chang had 10 children and Eng nine children.
They died within three hours of each other on January 17,1874.
The name “Siamese twins,” meaning twins whose bodies are connected
in any of a variety of ways, is derived from them.
http://engandchang.twinstuff.com/
http://bullseyedesigns.com/sideshow/people/twins/chang_eng.htm
1861-
Several newspapers in the Union states were brought to court for alleged
pro-Confederate sympathies, including the Brooklyn Eagle, the New York
Journal of Commerce, and
Southern leanings
expressed in the newspaper.
1915-Birthday
of singer Al Hibbler, Little Rock, AR
1909
- A dry spell began in San Bernardino County of southern California
that lasted until the 6th of May in 1912, a stretch of 994 days! Another
dry spell, lasting 767 days, then began in October of 1912.
http://www.arjazz.org/artists/hof/1995/95_al_hibbler.html
1922-
Louis Lomax, author, born.
http://www.alan-lomax.com/about_bio.html
1916
- Altapass NC was deluged with 22.22 inches of rain in 24 hours to establish
a state record
1926-Birthday
of pianist Mal Waldron, New York City
http://www.enjarecords.com/mal-waldron.htm
http://www.jazzinbelgium.org/guest/waldron.htm
1929—Pianist
Bill Evans birthday
http://www.downbeat.com/artists/window.asp?action=new&aid=50&aname=Bill+Evans
http://members.aol.com/gsonjazz/evans/be-home.htm
http://www.billevans.org/BBS/index.asp
1931-Birthday
of Eydie Gorme - U.S. pop vocalist. EG was a popular nightclub and recording
star. She often appeared with her husband Steve Lawrence, but she maintained
a much better separate recording career that kept her near the top of
the charts for a long, long time. The duo had a TV show (1959).
1936
-- Jesse Owens leaves Berlin Olympics with four gold medals.
1938 - Benny Goodman and his band, and a quartet, brought jazz
to Carnegie Hall in New York City. When asked how long an intermission
he wanted, Benny said, "I don’t know. How much does Toscanini get?"
1942
- For Columbia Records, Kay Kyser and the band recorded "A Zoot
Suit", about the problems associated with wearing the garish, fashion.
1942
- A TWA transport carrying film actress Carole Lombard, her mother,
and 20 other passengers, crashed near Las Vegas, Nevada. All aboard
were killed.
1944
- General Dwight Eisenhower was appointed Commander-in-Chief of the
Allied Expeditionary Force and asked to plan the launch of a second
front in Western Europe.
1950-Nat
“King” Cole with the Stan Ken Band, records “ Orange Colored Sky, “
Los Angeles.
1950-Birthday
of drummer Alvin Queen, New York City.
1951—Top
Hits
Too Young - Nat King
Cole
Come on-a My House
- Rosemary Clooney
My Truly, Truly Fair
- Guy Mitchell
Hey, Good Lookin’
- Hank Williams
1953-Birthday
of singer James “JT” Taylor, South Carolina.
1958-Birthday
of Madonna Louis Veronica Ciccone, known popularly as “Madonna, “ born
Bay City, MI.
1952-Baritone
saxophonist Gerry Mulligan, with Chet Baker, cuts first piano less quarter,
Los Angeles ( Pacific Jazz is born!!! )
1959—Top
Hits
A Big Hunk o’ Love
- Elvis Presley
My Heart is an Open
Book - Carl Dobkins, Jr.
There Goes My Baby
- The Drifters
Waterloo - Stonewall
Jackson
1961
- Mickey Mantle signed the contract that made him the American League's
highest paid baseball player. "The Mick" played the 1961 season
for $75,000. In the National League, Willie Mays, made more money than
any other baseball player with a contract for $85,000.
1964
- In New York City, "Hello Dolly!" starring Carol Channing
opened at the St. James Theatre. A musical adaptation of Thornton Wilder’s
play, "The Matchmaker", the show, was called the "possible
hit of the season" by critics. "Hello Dolly!" played
for 2,844 performances, before returning to in the 1990s with, again
star, Carol Channing.
1965
- Reportedly, the San Francisco Giants continued to pay Willie Mays
$105,000 a year. In exchange, he gave them a .317 batting average, a
slugging percentage of .645, and 52 home runs in return. In 1965, Willie
took home the MVP award.
1967—Top
Hits
Light My Fire - The
Doors
All You Need is Love
- The Beatles
Pleasant Valley Sunday
- The Monkees
I’ll Never Find Another
You - Sonny James
1969-The
second day of three for The Woodstock Music and Art Fair
on Max Yasgur's farm in Bethel, New York. Over 400,000 attend,
most without tickets, which prompts officials to say the festival is
open and free. Those up on stage include Jimi Hendrix, Santana, Sly
and the Family Stone, the Who, the Grateful Dead, Joan Baez, Janis Joplin,
Joe Cocker, Canned Heat, Crosby, Still Nash & Young and the Jefferson
Airplane among others. Things that helped make Woodstock a unique event
included, but were not limited to, rampant drug use, not enough food,
and sanitation, three deaths, two births and four miscarriages. (1969)
1975—Top
Hits
Jive Talkin’ - Bee
Gees
One of These Nights
- Eagles
Someone Saved My
Life Tonight - Elton John
Wasted Days and Wasted
Nights - Freddy Fender
1976
- A&M Records released the album, "Frampton Comes Alive".
The double LP soon reached the top spot of the album charts for a 17
week stay. Its first year out, it sold 19 million copies.
1977-
TCB ( Taking Care of Business ), Elvis Presley leaves Earth, as he was
pronounced dead at the Memphis
Baptist Hospital at 3:30pm, Eastern time, at the age of 42. In the first “Men in Black,” we see him leave our planet. Here it is the anniversary of his death is
an occasion for pilgrimages by admirers to Graceland, his home and gravesite
at Memphis, Tennessee. ( official site for “live” coverage and movies:
http://www.elvis-presley.com ).
1979--The
biggest single of the summer is The Knack's "My Sharona,"
which goes gold. The success of the group is the gimmick of Beatle-esque
posturing which the group treats as tongue-in-cheek. The Knack disbands
less than two years later.
1983-Paul
Simon and actress Carrie Fisher get married. They would divorce in 1985
1983—Top
Hits
Every Breath You
Take - The Police
Sweet Dreams (Are
Made of This) - Eurythmics
She Works Hard for
the Money - Donna Summer
He’s a Heartache
(Looking for a Place to Happen) - Janie Fricke
1984
- The U.S. Jaycees voted to admit women to full membership in the organization.
1984
- At the 11th annual American Music Awards, Michael Jackson received
eight awards, including favorite pop and soul male vocalist, pop and
soul album winner for "Thriller", pop and soul video winner
for "Beat It" and best pop song for "Billie Jean".
1985-Madonna
and actor Sean Penn get married in Malibu, as helicopters with photographers
hovered overhead. They would divorce in 1989
1985
- Hugh Hefner took the staples out of "Playboy" magazine,
ending its 30-year tradition of stapling centerfold models in the bellybutton.
The decision made the centerfold more difficult to remove it.
1984-Los
Angles federal jury acquits auto maker John Z DeLorean on cocaine charges.
http://babbtechnology.com/thecar/index.htm
1986-
Madonna's "True Blue," album goes #1 for 5 weeks & her
single "Papa Don't Preach," goes #1 for 2 weeks
1988-
IBM introduces software for artificial intelligence.
1991—Top
Hits
(Everything I Do)
I Do It for You - Bryan Adams
P.A.S.S.I.O.N. -
Rhythm Syndicate
Every Heartbeat -
Amy Grant
She’s in Love with
the Boy - Trisha Yearwood
1999—Top
Hits
Genie In A Bottle-
Christina Aguilera
Bills, Bills, Bills-
Destiny s Child
Tell Me It s Real-
K-Ci
Summer Girls- LFO
2001--
After piloting the team 13 games above .500 in spite of numerous injuries
to key players, manager Jimmy Williams is fired by the Red Sox. The
ousted skipper is replaced by the club's well respected pitching coach,
Joe Kerrigan.
2001-
Barry Bonds' second home run of the game and 53rd of the season breaks
the
franchise record
established by his godfather, Willie Mays. With his first homer, the
left fielder eclipses the National League record for home runs by a
left handed batter established in 1947 by another Giant, Johnny Mize.
2002
-after four days of delaying the decision, the executive board of the
Major League
Players' Association
votes 57-0 to set an August 30 strike date. All eight previous negotiations
since 1972 have resulted in work stoppages in the national pastime.
Baseball
Poem
Three Strikes, Yer
Out
..... written by
Greg Salts, Chula Vista, Calif.
The first pitch was
heat that looked more like meat.
You swung awful fast
but it fouled off my mask.
You looked far too
long at the base coach's face.
Your task here is
simple, just get to first base.
You step in the box
and shuffle your feet.
"O-2 on the
batter," I said,
and was glad I glanced
at him then and he really looked mad.
The catcher laid
down number three as a sign
A change-up it was
and it looked mighty fine.
I can't figure out
why you stood there and looked.
But now there's a
backward K in the book.
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