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Headlines---
Classified Ads--Contract Administrator
Pictures from the Past--1994-Barry A. Dubin, Esq.
Rodney Dixon Hearing Postponed
Silicon Valley Bank's Art Hiemstra joins VenCore
Equipment Leasing Help Wanted Ads
Free Attendee Registration -Lessors Network
Comments Still Being Accepted for
"Leasing Company Name With Held"
"Don't Call Me"-Ban Home Telemarketers
Fujitsu Computer Chooses Key Equipment Fin.
Pentagon Halts Lease Deal After Firing of Boeing CEO
San Francisco Bay Area UAEL Holiday Mixer
This Border ##### Denotes Press Release (Not Written By Leasing News)
------------------------------------------------------------------------------------------
Two Versions of Leasing News
Free (text format)
HTML: $59.95 yr --- Free 30 Day Trial
The text edition “goes to press” from 2:00am to 3:00am, California time.
It is also available in an "up-grade" format, html, where you may
click on the headlines to go to the story, plus is also in this "new" format
posted daily on our website--- http://www.leasingnews.org/contact_us_news.htm
This addition, and the website, are posted from 8:00am to 9:00am, California time.
If you have not had a prior trial, get 30 days for free and then see if you want to keep the HTML version. Classified ads and subscriptions help support the operation of Leasing
Classified Ads--- Contract Administrator
Name = Shirley M. Grigsby
Address = 2138-1/4 Third Avenue
City = Los Angeles
State = CA
Zipcode = 90018
Phone = 323-734-0754
Fax =
Email = sgrigs@netzero.net
Comments or Questions= My Company recently closed and I am
actively seeking employment in the leasing industry. I am currently utilizing the job search service that the Leasing News offers and would like to continue receiving your newsletter.
Thank you for the informative data that you continue to provide to the
commercial equipment leasing community. Here's wishing you continued
success and good luck.
(Thank you. We wish you success and good luck, too. )
Here is her ad:
Contract Administrator: Los Angeles, CA Documentation Manager; 25+ years experience; strong documentation skills; solid reputation for submitting complete funding packages consistently resulting in same day fundings; will consider reasonable commute.
Email: sgrigs@netzero.net
Here are other Contract Administrator ads---
Contract Administrator: Chicago/Naperville
18+ years experience in leasing US/Europe, as both lessee and lessor. Am versatile and adaptable to lessee, lessor, or lender career opportunity. Email:kris_k11@yahoo.com
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
Contract Administrator: Portland, OR.
6+ years small ticket leasing/financing. Documentation/funding
Policy development &implementation, management &training, process mapping, customer service, broker, vendor, portfolio experience.
Email: susanc777@hotmail.com
Contract Administrator: San Diego, CA.
16 years experience with Capital Equipment and Semiconductor Manufacturing equipment leasing for Asia/Europe/US. Strong communication, documentation, management, negotiation, and training skills.
Email: pcgaynor@adelphia.net
Contract Administrator: Schaumburg, IL
10 yrs. small/mid-ticket leasing. Proficient in documentation, funding and legal. Worked with brokers, portfolio purchases, vendor programs, municipal transactions. Prefer to stay in Suburban Illinois. Email:sophie1900@msn.com
Full List located here: http://64.125.68.90/LeasingNews/JobPostings.htm
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Pictures from the Past---1994-Barry A. Dubin, Esq.
http://two.leasingnews.org/photos/Dubin,Barry.jpg
This is a picture from the Western Association of Equipment Lessor’s Newsline
that featured pictures of the 1994 Board of Directors. Here is a current curriculum vitae:
Barry A. Dubin, a partner of Cooper, White & Cooper LLP, focuses his practice in the commercial finance services industry, specializing in equipment leasing and asset-based lending. He has negotiated and drafted a variety of leveraged and single investor leases covering a wide range of equipment. Mr. Dubin also prepares standard equipment lease documents for clients engaged in the
small ticket and middle market leasing of equipment. In addition to his work in the equipment leasing field, Mr. Dubin has extensive experience in other
areas of asset-based lending, and he has negotiated and documented a wide variety of commercial loan transactions and portfolio acquisitions.
His practice also includes substantial creditor representation in bankruptcy proceedings as well as commercial litigation involving the enforcement of creditors' rights and remedies and lender liability defense.
Mr. Dubin frequently lectures at equipment leasing seminars, and he is the author of several articles, including "Judicial Approval of the Sale of Personal Property," The Secured Lender (May/June 1989), and "A Lessor's Duty to Repair Collateral Prior to Sale," WAEL Newsline (February 1990). He is a contributing author to The Executive's Guide to Lease Documentation and Executive's Guide to Remedies published by the Equipment Leasing Association of America, and has written the chapter entitled "Default, Remedies and Litigation” for the three-volume treatise Equipment Leasing published by Matthew Bender.
Mr. Dubin is a member of the San Francisco Bar Association, the Equipment Leasing Association of America (ELA), and the United Association of Equipment Leasing (formerly WAEL, a national equipment leasing association). He has served as chairman of the WAEL legal committee, as a member of the
WAEL board of directors, and as a member of the ELA legal committee.
Mr. Dubin is a 1968 graduate of Yale University and a 1973 graduate of Columbia University School of Law, where he was a Harlan Fiske Stone Scholar.
______________________________________________________________
Rodney Dixon Hearing Postponed
Jay Chanen Stuart of the United States Attorney's Office, Chicago, Illinois
has filed four charges against Rodney Dixon, the chief executive of
Lacrad International Corp. involving fraud by wire, radio, or television
and violation of interstate commerce. The hearing to be held on December 1 was
postponed until December 11,2003.
This case will most likely supercede the suit by six equipment leasing companies who are suing Rodney Dixon as the chief executive of Lacrad International Corp., a company that sold religious sermons on compact discs, alleging that he purposefully lied about his financial assets. (Leasing News has not been able to find a copy of the actual suit which would name the six leasing companies, although they are referred to in other filings.)
This suit claims he entered into a money laundering charge and the charge that he inflated Lacrad's net worth in order to obtain a $2.25 million bank loan to purchase a corporate jet. The six equipment leasing companies that have sued Dixon say they lost over $11.4 million because of the scheme, in which Dixon allegedly claimed that Lacrad's annual revenue exceeded $100 million in the late 1990s although sales at the company were never higher than $100,000.
June 22, 2001, it appears Winthrop Resources filed against Rodney T.E. Dixon et. all for $9,999,999 plus expenses. Mentioned in the case were Wells Fargo Equipment Finance Corp., European American Bank, American Equipment Leasing, Balboa Capital Corporation, CIT Group Equipment, and Regions Bank for information. A receiver was appointed and assets to be discovered and to go to the favor of the Winthrop Resources.
The U.S. Attorney General's case has been assigned to Hon. Geraldine Soat Brown.
The docket states:
For the reasons stated on the record, the Court revokes the order of release and sets this matter
for detention hearing on 12/1/03 at 1:30p.m. The defendant
shall be taken into custody for appearance before Judge
Gettleman 11/26/03 at 9:30a.m. in connection with 01 C
4296, and shall remain in custody until the hearing date
before this Court. Mailed notice (emd) [Entry date 11/26/03]
11/26/03 10 NOTICE regarding passport by USA as to Rodney Dixon (ip)
[Entry date 12/01/03]
12/1/03 11 MINUTE ORDER of 12/1/03 by Hon. Geraldine Soat Brown as to
Rodney Dixon : Detention hearing held and continued to
12/11/03 at 2:30 p.m. Mailed notice (ip)
[Entry date 12/01/03]
---------------------------------------------------------------------------------------------------
Silicon Valley Bank's Art Hiemstra joins VenCore
VenCore Solutions LLC, a Portland-based equipment leasing company specializing in serving emerging growth companies, has hired Northwest banking executive Art Hiemstra to fill a top post. Vencore is a leader in the smaller market of venture leasing on the West Coast.
VenCore said Hiemstra will serve as executive vice president, and will help guide the company's national expansion.
The company also hired Tim O'Loughlin, formerly senior vice president with Silicon Valley Bank. O'Loughlin will lead VenCore's recently established Boston office, which serves New England.
VenCore now has satellite offices in Seattle, San Francisco, Denver, Chicago, Boston and Southern California. Recently John Pritchard
(john@vencore-solutions.com) appeared at a UAEL Regional Meeting
Conference. Pritchard said his company starts at $50,000, buy rate 11% to 14%
and often tops out at $250,000, rarely goes higher, but has, and pays brokers two points referral fee.
Letters—We get eMail
The cartoon is all wrong--Fred Van Etten never owned a pair of cowboy
boots in his life. I doubt if he has ever even owned a pair of socks. It
is loafers, no socks and a big smile for Freddie aka The Texas Teddy
Bear.
Charlie
Charlie Lester
clester@lpifinancial.com
http://www.leasingnews.org/archives/November%202003/11-25-03.htm#cartoon
--
Love your communication. Even on a "No Regular Edition Today" issue, it is
insightful and rewarding. It is too bad that it is not available to the
general public.
Keep it up!
Dave Brownlee
(To a degree it is available to the public, as it is printed on our website
www.leasingnews.org . I think the only time the "general public" finds us is when they have a "lease complaint," as we come up in the top on all the browsers when someone is looking for a place to place a complaint regarding equipment leasing.
( Thank you for the compliment. editor)
--
Kelly Long
I moved to Sioux Falls where I lead Sales and Marketing efforts for two non-banking divisions of a Regional Bank. The first division is a Payroll/Benefits service, specializing in small/middle size firms. The Second division is a Leasing Company, primarily focusing on Industry Programs in the Midwest. I am working with the Sioux Falls Chamber of Commerce and recently asked to be on the Advisory Board of the South Dakota Technology Business Center.
Kelly Long
HF Financial Group, Inc.
225 S Main Ave / PO Box 5000
Sioux Falls, SD 57117-5000
605-373-1372 or 800-244-2149
Cell: 605-261-0656
klong@hffgroup.com
--
Marlin IPO –Bob Rodi, CLP
While I do not purport to be a stock market analyst I did the simple math on the Marlin IPO. By my calculations, out of approximately $61MM that they expect to raise, roughly $18MM goes to the "selling shareholders", $4.8MM goes to fees which I assume encompasses the attorney, accountants and underwriter, and $38MM finally makes it to the company providing for a grand total of about $60MM in proceeds from the IPO.
Now, if I am an investor, do I ask myself, "Why would I want to invest in a company where the "selling shareholders" are going to engineer a major liquidity event with absolutely no intention of putting dime one back into the company? What kind of signal does that send to the market? Isn't it customary for the initial shareholders to let the public get some of their money before they make a grab and run? I recall that when our former partner, Rich Masterson, took his company public, he, nor any of the founding shareholders were allowed to sell any stock for 6 months.
Also, if I am one of the "lucky" investors that pays $14 per share, but only about 60% of my money is actually "invested" in the company, how profitable does Marlin have to be before they achieve a valuation that makes up for the 40% that the selling shareholders, accountants and lawyers are whacking up. Again, by my calculations, it looks like that stock would have to reach a valuation of $22 per share to make up for the 40% that the selling shareholders, underwriters and attorneys will be whacking up.
I guess the hope is that you get in at $14, get a quick run up and then sell and take the profit. Somehow, based on recent history in the equipment finance industry, I would bet against that. It also sounds suspiciously like the old Industrial Leasing IPO. Anyone remember that? They hurried up the IPO because there were some questions about whether or not they could keep the ship afloat. I am anxious to see if investors are going to leap at this "opportunity" or if they come to the same conclusion I did--if the selling shareholders don't have the confidence to re-invest, why the heck would I?
Bob Rodi, CLP
President
LeaseNOW, Inc.
drlease@leasenow.com
www.leasenow.com
1-800-321-LEASE (5327) x101
---------------------------------------------------------------------------------------------
Equipment Leasing Help Wanted Ads
|
_________________________________________________________________
### Press Release ####################################
Free Attendee Registration –Lessors Network
Lease Funding & Distribution Showcase To
Provide Free Attendee Registration To Borrowers & Lessees
(Lessors Network) Atlanta, GA - The Lessors Network
announced today it will provide free Lease Funding & Distribution
Showcase Attendee Registration to select borrowers and lessees from the
primary markets.
Last year, the Lessors Network launched an innovative low-tech showcase
format where industry representatives alternated delivering five-minute
oral (no PowerPoint) presentations introducing their companies and
investment strategies. The results were overwhelming with more than $10
billion in buy/sell opportunities represented by 64 pre-screened funding
sources.
This year the Lessors Network will expand the showcase to the primary
markets, providing free attendee registration to targeted borrower and
lessee members of select industry associations. Initial association
targets include the National Business Aircraft Association, American
Trucking Associations, North American Equipment Dealers Association,
Association of American Railroads, Government Finance Officers
Association and the National Association of Counties, whose membership
clearly benefit the funding services presented at this showcase.
As John Semon, CEO, explains, "When a room full of funding source
professionals gathers to talk about secondary market buy/sell investment
strategies and you introduce borrowers and lessees from the primary
markets, something good is bound to happen !"
Additional information about the Funding & Distribution Showcase is
available from the Lessors Network web site at www.lessors.com.
About The Lessors Network
The Lessors Network is a global sales & marketing network for the
equipment leasing industry, facilitating new business development
opportunities within the corporate and municipal markets. Additional
information can be viewed from their web site at www.lessors.com.
### Press Release ##################################
----------------------------------------------------------------------------------
Comments Still Being Accepted for "Leasing Company Name With Held"
As stated yesterday, we seek comments on this complaint:
Due to the nature of the controversy of this complaint, it is being printed
without names. Several of the Leasing News Advisory Board members do not
want it printed with names as "Mr. Leasing Company Name With Held" is their friend, several believe it should be printed with names as it is a "legitimate complaint," some don't want to get involved "at all, and others say it is the "editor's job" to make these decisions.
"Mr. Leasing Company Name With Held" believes "Leasing News" is trying to "smear" him and appears to have started such a campaign against us in his circles.
As editor, it appears to be a question of "ethics; despite the popularity
of the person, it is a legitimate complaint for the Leasing News Bulletin Board.
Please read it and let me know your opinion by e-mail (I will not use
any that makes this a "popularity" contest, as the issue is "ethics," not
whether "Mr. Leasing Company Name With Held" is a nice guy.
-----
The Applicant signed two separate lease contract with " Leasing Company Name With Held" on April 23,2003, including acceptance of equipment, along with a check for "first months rent" and "security deposit" for $5,949.72 with two separate checks, one for $3,683.16 and the other, $,2266.56.
**** (The Adobe Acrobat copy of both leases would normally be here, but
it has the parties names on it, plus the signature of the applicant, including
the delivery and acceptance form.)
Mr. Applicant states he sent his application and financial statements in early April for $94,500 in CD replication equipment less the $40,000 he had given the vendor as a "down" with the remainder to be "financed." It also was submitted as "corporate only" (no personal guarantee) as he had put $40,000 down, $20,000 on each machine, as understood by both parties.
According to Mr. Applicant, the lease was approved, he was told, so he
signed the two leasing contracts and sent in the two checks. He waited
until funding and then was finally told by " Mr. Name With Held" that he had made "misleading statements" and therefore " Leasing Company Name With Held" would not proceed with funding nor return the "first months rent" and "security deposit" on either of the two leases.
There was no bilateral agreement on terms and conditions for "Leasing Company Name With Held" to retain the monies if the lease did not fund, according to both parties. In addition, Mr. Applicant specifically points out the leases were not "funded" and the vendor was not paid: the lease did not commence. He also
said he never received a call for a verbal acceptance nor was any insurance certificate issued . Mr. Applicant states he has not received a signed copy of the two lease contracts to date from "Leasing Company Name With Held ", and his main point: the two leases never commenced, and therefore the terms
do not apply ( in addition, there is no provision regarding the disposition
of the money if the lease does not commence.) "Mr. Applicant" categorically
denies that he made any intentional misrepresentations and was "up-front"
on all aspects of the application.
The probable funder involved (as it appears to be their contract via the insurance provision where liability names the funder with his address) would make no comment as to whether the leases were approved, documents and money received or returned, or whether there was any provision for the lessor to keep any funds, whether the leases were funded or were not funded.
There is a law in the State of New York concerning "security deposits" and
advance rentals, requiring that they be held in escrow and returned if
the transaction does not move ahead. Here is one reference to it:
State of New York Security Deposit Law Section 7-101 Money deposited or advanced for use of personal property. Leasing News is not giving any
legal advice or interpretation, but bringing the fact of the law existing
in New York State. There were several opinions regarding this law
and it does appear a common practice to "co-mingle" security deposits
into a general account by many leasing entities, although the disbursement requires both parties and the law requires a separate account.
" Mr. Name With Held" claims to have many hours into the transaction, and due to this fact, and the alleged misleading statements, he states he is entitled to
keep the money.
Mr. Applicant is willing to negotiate a settlement due to the actual time " Mr. Name With Held" spent on the transaction. He is also willing to accept terms of repayment, if it is a "cash flow" situation. Neither offer was acceptable by" Leasing Company Name With Held."
In the meantime, Mr. Applicant has spoken with "customer service" of the probable funder, and says that he will file a complaint with the leasing
associations that are advertised of "Leasing Company Name With Held"
website.
" Mr. Name With Held" submitted a statement, but due to derogatory and libelous comments, in this editor's opinion, the remarks were removed (as per our written policy .*) " Mr. Name With Held" then asked us not to print anything that he has sent.
"Please do not publish anything over my signature if you are going to edit it
in any fashion."
Very truly yours,
Mr. Name With Held
* Our policy appears in our daily publication and on the web site:
http://www.leasingnews.org/policy.htm
Either hit "reply" if you are reading this in the e-mail version,
or send to kitmenkin@leasingnews.org for comments regarding this
bulletin board complaint.
----------------------------------------------------------------------------------------------
**** announcement ***********************************
“Don’t Call Me”—Ban Home Telemarketers
Go here to sign up now to prevent home telemarketing calls:
www.dontcall.gov
You
will receive an email from Register@donotcall.gov.
To complete your registration, you must open the email and click on the
link provided.
Important: If you do not click on the
link in the email within 72 hours, your phone number will not be registered
Most telemarketers* should not call your number once it has been on the registry for three months. If they do, you can file a complaint at this Website. You can register your home or mobile phone for free. Your registration will be effective for five years.
The web site recommends not calling them, but using the forms on line, also
to make complaints. If any difficulties, their telephone number is 1-88-383-1222.
*Political solicitations and genuine surveys are not prohibited. To see more
information on the program, please go here:
https://www.donotcall.gov/FAQ/FAQConsumers.aspx#Exceptions
*** announcement *************************************
#### press release ############################
KEY EQUIPMENT FINANCE SELECTED AS A FINANCING PARTNER
BY FUJITSU COMPUTER SYSTEMS
SUPERIOR, Colo., Key Equipment Finance, one of the
nation¹s largest bank-affiliated equipment leasing companies and an
affiliate of KeyCorp (NYSE: KEY) today announced that it has been selected
by Fujitsu Computer Systems Corporation as a financing partner. Fujitsu
Computer Systems offers a complete line of high-performance mobile and
desktop computers, scalable and reliable servers as well as managed and
professional services for the business enterprise.
"We believe that flexible leasing options are an important component to
delivering a total IT solution," said Farhat Ali, chief operating officer
and chief financial officer for Fujitsu Computer Systems. "Key Equipment
Finance has a solid history with expertise in providing technology financing
solutions. This agreement will give us greater flexibility in meeting our
customers¹ overall financing needs."
The relationship with Key Equipment Finance enhances the equipment financing
options Fujitsu Computer Systems currently offers for customers in the
United States and Canada. With support from partners such as Key Equipment
Finance, Fujitsu customers can bundle hardware, software, professional
services, support and maintenance into one financing instrument.
"By providing lease options directly to customers, Fujitsu Computer Systems
Corporation is demonstrating its commitment to being a complete solution
provider," said Karen Larson, president and chief operating officer of Key
Equipment Finance¹s global vendor services unit. "We anticipate that
supporting a comprehensive lease program will play an important role for
Fujitsu in North America."
About Fujitsu Computer Systems
Headquartered in Sunnyvale, Calif., Fujitsu Computer Systems is a wholly
owned subsidiary of Fujitsu Limited (TSE:6702) committed to the design,
development and manufacture of advanced computer systems and managed
services for the business enterprise. The company offers a complete line of
high-performance mobile and desktop computers, scalable and reliable servers
as well as managed and professional services. Fujitsu Computer Systems
emphasizes leading-edge technology, exceptional product quality and user
comfort and productivity, as well as outstanding customer service. More
information on Fujitsu Computer Systems is available at
us.fujitsu.com/computers.
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides
business-to-business equipment financing solutions to businesses of many
types and sizes. They focus on four distinct markets:
businesses of all sizes in the U.S. and Canada (from small business to
large corporate);
equipment manufacturers, distributors and value-added resellers
worldwide;
federal, provincial, state and local governments as well as other
public sector organizations; and
lease advisory services for manufacturers¹ captive leasing and finance
companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance oversees an
$8.7 billion equipment portfolio with annual originations of approximately
$3.5 billion. The company has major management and operations bases in
Toronto, Ontario; Albany, New York; London, England; and Sydney, Australia.
The company, which operates in 24 countries and employs more than 600 people
worldwide, has been in the equipment financing business for 30 years.
Additional information regarding Key Equipment Finance, its products and
services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation¹s largest bank-based financial
services companies, with assets of approximately $84 billion. Key companies
provide investment management, retail and commercial banking, retirement,
consumer finance, and investment banking products and services to
individuals and companies throughout the United States and, for certain
businesses, internationally. The company's businesses deliver their products
and services through KeyCenters and offices; a network of approximately
2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site,
Key.com, that provides account access and financial products 24 hours a day.
# # #
Fujitsu is a registered trademark of Fujitsu Limited.
Contact: Cori Keeton
Barnhart/CMI
303-626-7248
### Press Release ##########################
Pentagon Halts Lease Deal After Firing of Boeing CEO
WASHINGTON, -- In response to the sudden resignation of Phil Condit and the hiring of Harry Stonecipher as CEO of Boeing, the Council for Citizens Against Government Waste (CCAGW) warned against forgiving-and-forgetting the embattled defense contractor. Despite today's announcement that the Pentagon will postpone the $18 billion plan to lease and buy 100 Boeing re-fueling tankers, Stonecipher has named the tanker deal one of his highest priorities and the plan still has defenders in Congress.
"The tanker lease deal is expensive, unnecessary, budget-busting, scandalous, and the worst example of corporate welfare in recent memory," CCAGW President Tom Schatz said. "It violates federal law and sets an ominous precedent for similar deals in the future. With a projected $500 billion deficit and our troops facing danger around the world, the Pentagon senior staff is the last resort to end this outrageous waste of tax dollars."
Deputy Defense Secretary Paul Wolfowitz said the postponement was prompted by Boeing's firing of Chief Financial Officer Michael Sears after he discussed the lease deal with Air Force official Darleen Druyun, the lead player on the lease deal. The original plan called for leasing all 100 767 re-fueling tankers, but investigations by the Congressional Budget Office and the General Accounting Office (GAO) revealed that the lease plan could cost as much as $5.5 billion more than buying the planes outright. The cost to upgrade, modernize, and repair planes the Air Force already owns would be approximately $3.2 billion, a difference of $13.9 billion. A compromise version, which calls for leasing just 20 of the tankers and purchasing up to 80 more in the years ahead, was included in the 2004 defense spending bill signed into law by President Bush. But Senators John McCain (R-Ariz.) and Peter Fitzgerald (R- Ill.) warned the Pentagon to proceed carefully.
"The best of all scenarios would be to scrap the entire proposal," Schatz continued. "If the Air Force truly deems these planes as necessary to its mission, it should procure them competitively, fairly, and openly like any other major weapon system and reduce spending elsewhere in its budget in order to accommodate its priorities. But the Pentagon, by heeding the advice of the Senate and stopping the deal to allow further investigation, provides some reassurance to taxpayers."
The reshuffling of CEOs is the latest fallout from widespread allegations of ethical violations at Boeing. In the last year alone, the Pentagon punished Boeing for stealing trade secrets from rival Lockheed Martin by banning Boeing from bidding on satellite-launching contracts, costing the company $1 billion. The GAO found that Boeing had obtained and misused proprietary information from rival Raytheon as they competed for a missile- defense contract.
"It is amazing the Boeing won the tanker contract despite the ongoing investigation," Schatz concluded. "When CAGW decided to name Boeing its Corporate Turkey of the Year, it was not a close contest."
The Council for Citizens Against Government Waste is the lobbying arm of Citizens Against Government Waste, the nation's largest nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.
SOURCE Council for Citizens Against Government Waste
CO: Council for Citizens Against Government Waste; CCAGW; Boeing
ST: District of Columbia
SU: LEG NPT EXE
Web site: http://www.cagw.org
### Press Release ##############################
*** announcement ********************************
S.F. Bay Area UAEL Holiday Mixer
Date: Wednesday, December 10, 2003
Time: 4:00 pm to 6:00 pm
Location: McCovey's Restaurant
1444 North California at Bonaza
Walnut Creek, CA
925-944-1444
Details: No Host Bar
Hors d'oeuvres compliments of the
Bank of Walnut Creek
Confirmation: Please RSVP - Paul Knowlton
888-278-1079 ext 253
**** announcement ******************************************
__________________________________________________________________
News Briefs---
CIT
Group sells $750 mln in 7-year notes
http://www.forbes.com/markets/newswire/2003/12/02/rtr1166807.html
Dollar Sinks to New Lows Vs Euro
http://www.washingtonpost.com/wp-dyn/articles/A30242-2003Dec3.html
Gold closes above $400 an ounce
http://www.signonsandiego.com/news/business/20031202-9999_
1b2calbrfs.html
Auto Sales Rise With Economy
http://www.nytimes.com/2003/12/03/business/03auto.html
U.S. Firms' Job Cuts Plunge 42 Pct in Nov
http://www.boston.com/business/articles/2003/12/02/
us_firms_job_cuts_plunge_42_pct_in_nov/
Fitch Releases Its First Private School Rating Guidelines-Great Leasing Market
http://www.fitchratings.com/corporate/events/press_releases_
detail.cfm?pr_id=101823
Online Retail See Big Holiday Sales
http://www.washingtonpost.com/wp-dyn/articles/A30188-2003Dec3.htmlers
In Seattle, a New Life for a Once-Derelict Lakefront
http://www.nytimes.com/2003/12/03/business/03prop.html
The tortilla will surpass white bread as the top-selling bread in the US
http://www.bayarea.com/mld/mercurynews/business/7393376.htm
Top Fifty News Web Sites—Alexa Report
http://www.alexa.com/site/ds/top_sites?catid=8&ts_mode=subject&lang=none
Singer Ray Charles Recovers From Surgery
---------------------------------------------------------------------------------------------------
Sports Briefs---
49er
Hearst to have surgery, will miss at least 1 game
http://www.bayarea.com/mld/mercurynews/sports/footbal
l/nfl/san_francisco_49ers/7393519.htm
Cowher apologizes for remarks about replay official
http://www.theredzone.org/news/showarticle.asp?ArticleID=675
Rams mix more blitz into defense
Would-Be Marciano Faces Test at Garden
http://www.nytimes.com/2003/12/03/sports/othersports/03MESI.html
---------------------------------------------------------------------------------------------------
California Nuts Brief---
Schwarzenegger launches drive for economic plan in San Diego
http://www.signonsandiego.com/news/politics/20031202-2244-arnold.html
----------------------------------------------------------------------------------------------------
“Gimme that Wine”
Hints of Wine? Chocolate Enters the Tasting Room
http://www.nytimes.com/2003/12/03/dining/03CHOC.html
Glossary: How to Speak Chocolatese
http://www.nytimes.com/2003/12/03/dining/03CHOC.html
Woodstock
Wine & Deli celebrates 18 years/Oregon Wine Events
http://www.oregonlive.com/foodday/oregonian/index.ssf?/base/
living/1069937967158010.xml
Wine Events in the United States
http://www.localwineevents.com/
Wine on Web Reviews-copy and paste for review
http://www.wineontheweb.com/a-z/a-z.html
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This Day in American History
1755-Birthday of Gilbert Charles Stuart, American portrait painter whose most famous painting is that of George Washington. He also painted portraits of Madison, Monroe, Jefferson and other important Americans. Stuart was born near Narragansett, RI, and died July 9, 1828 at Boston, MA.
1799-Margaret O'Neale Eaton birthday. Her marriage to the man who would become a cabinet officer resulted in a scandal that caused Andrew Jackson to dismiss his entire cabinet. It led to a permanent breach between Jackson and John C. Calhoun which resulted in Martin Van Buren becoming president rather than Calhoun and Calhoun backing the South Carolina resolution on tariffs, which many believe hastened the civil war between the states. Living well is said to be the best revenge and the Eatons lived well, in fact said to have had a brilliant social life when he served as governor of Florida and U.S. minister to Spain. She lived until she was eighty years old; marrying her grandchildren’s dance teacher after her husband died.
http://www.floridamemory.com/OnlineClassroom/Governors/Eaton.cfm
http://www.benet.org/teachers/lbrown/WebSites/TheEatons
/Newsletter_2/newsletter_2.html
http://www.booknotes.org/Program/?ProgramID=1403
http://www.army.mil/cmh-pg/books/sw-sa/Eaton.htm
1818-Illinois became the 21st state. The strange but beautiful prairie lands east of the Mississippi and north of Lake Michigan presented a difficult challenge to the tide of westward-moving immigrants. Accustomed to the heavily forested lands of states like Kentucky and Tennessee, the early immigrants to Illinois did not know what to make of the vast treeless stretches of the prairie. Most pioneers believed that the fertility of soil revealed itself by the abundance of vegetation it supported, so they assumed that the lack of trees on the prairie signaled inferior farmland. Those brave souls who did try to farm the prairie found that their flimsy plows were inadequate to cut through prairie sod thickly knotted with deep roots. In an "age of wood," farmers also felt helpless without ready access to the trees they needed for their tools, homes, furniture, fences, and fuel. For all these reasons, most of the early Illinois settlers remained in the southern part of the state, where they built homes and farms near the trees that grew along the many creek and river bottoms. The development of heavy prairie plows and improved access to wood and other supplies through new shipping routes encouraged even more farmers to head out into the vast northern prairie lands of Illinois. By 1840, the center of population in Illinois had shifted decisively to the north, and the once insignificant hamlet of Chicago rapidly became a bustling city. The four giant prairie counties of northern Illinois, which were the last to be settled, boasted population densities of 18 people per square mile. Increasingly recognized as one of the nation's most fertile agricultural areas, the vast emptiness of the Illinois prairie was eagerly conquered by both pioneers and plows. The Railroad and Great Lakes made Chicago a significant center of transportation.
http://memory.loc.gov/ammem/today/dec03.html
1826-Birthday of Union General George McClellan, born in Philadelphia. Although McClellan emerged early in the war as a Union hero, he failed to effectively prosecute the war in the East. McClellan graduated from West Point in 1846, second in his class. He served with distinction in the Mexican War under General Winfield Scott, and continued in the military until 1857. After retiring from the service, McClellan served as president of the Illinois Central Railroad, where he became acquainted with Abraham Lincoln, who was then an attorney for the company. When the war began, McClellan was appointed major general in charge of the Ohio volunteers. In 1861, he command Union forces in western Virginia, where his reputation grew as the Yankees won many small battles and secured control of the region. Although many historians have argued that it was McClellan's subordinates who deserved most of the credit, McClellan was elevated to commander of the main Union army in the east, the Army of the Potomac, following that army's humiliating defeat at the First Battle of Bull Run. 1979-. McClellan was beloved by his soldiers but was arrogant and contemptuous of Lincoln and the Republican leaders in Congress. A staunch Democrat, he was opposed to attacking the institution of slavery as a war measure. While his work as an administrator earned high marks, his weakness was revealed when he took the field with his army in the spring of 1862. He lost to Robert E. Lee during the Seven Days' battles, and as a field commander he was sluggish, hesitant, and timid. President Lincoln then moved most of McClellan's command to John Pope, but Pope was beaten badly by Lee at the Second Battle of Bull Run. When Lee invaded Maryland in September 1862, Lincoln restored McClellan's command. McClellan pursued Lee into western Maryland, and on September 17 the two armies fought to a standstill along Antietam Creek. Heavy loses forced Lee to return to Virginia, providing McClellan with a nominal victory. Shortly after the battle, Lincoln declared the Emancipation Proclamation, which converted the war into a crusade against slavery, a measure bitterly criticized by McClellan. The general's failure to pursue Lee into Virginia led Lincoln to order McClellan's permanent removal in November. The Democrats nominated McClellan for president in 1864. He ran against his old boss, but managed to garner only 21 of 233 electoral votes. After the war, he served as governor of New Jersey. He died on October 29, 1885, in Orange, New Jersey.
1828-Andrew Jackson was elected seventh president of the United States. Jackson, a senator from Tennessee until his nomination, received 647,231 popular votes and 178 electoral votes against 509,097 popular votes and 83 electoral votes for John Quincy Adams, candidate of the National Republican Party. John C. Calhoun was reelected vice president, receiving 171 electoral votes. Martin Van Buren of New York swung the election on the understanding that he would continue to exercise power in the state through the spoils system. Jackson was reelected in 1832. by 687,502 popular votes and 219 electoral votes, against 530,189 popular votes and 49 electoral votes for Henry Clay. Martin Van Buren was elected vice-president.
1833- the first college to enroll women and men on equal terms was Oberlin Collegiate Institute, Oberlin, OH, with 44 students, 29 men and 15 women. March 21, 1930, the name of the school was changed to Oberlin College. It was the first school to advocate the abolition of slavery and to accept African-American men and women on equal terms with white students.
1842- Phoebe Apperson Hearst birthday - renowned philanthropist whose contributions - based on her husband's gold and silver mining fortune - put a lot of the gold in the reputation of California. Her donations to the University of California that she served as a regent from 1897 to her death in 1919 helped make it a major institution. She endowed nurseries and kindergartens, helped rebuild many institutions after the San Francisco earthquake/fire, and later her financial aid to numerous archaeological expeditions carried the stipulation that the finds go to the UC and thus came about the University Museum. Later she endowed UC's department of anthropology. She also set up the first refuge for redwood trees. When her husband George was appointed to the U.S. senate, she turned her philanthropy to that area's institutions and was, among other things, a major contributor to the National Cathedral and the restoration of Mount Vernon. Her son was William Randolph Hearst, the newspaper publisher. She died April 13,1919, a victim of the worldwide influenza epidemic of 1918-1919.
http://www.hearstcastle.org/history/phoebe_hearst.asp
http://www.pleasantonweekly.com/morgue/2001/
2001_04_13.phoebe13.html
http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=2345
1847-Frederick Douglass, along with Martin R Delaney, start The North Start, an anti-slavery paper.
http://www.famousamericans.net/frederickdouglass/
http://www.us-civilwar.com/douglass.htm
http://www.lib.rochester.edu/rbk/douglass/thompson.stm
http://itech.fgcu.edu/faculty/wohlpart/alra/douglass.htm
http://www.jameslandrith.com/freebies/fdouglass.html
1864- Salmon P. Chase was appointed chief justice of the Supreme Court. His most significant achievements came when he held the office of secretary of the treasury under Lincoln. He was partly responsible for saving the country from financial ruin with the Legal Tender Act, which he sponsored in 1862. The act allowed 150,000,000 greenbacks to be issued. The phrase “In God We Trust” was put on national coins by order of Chase.
1868- Trial of Jefferson Davis starts; first blacks on US trial jury. He refused
to honor the trial and sat in jail for two years. Horace Greely, democratic candidate for President of the United States, 1872. Founder and editor of the New York Tribune, became advocate of universal amnesty for Confederates, and in May 1867 offered bail for Jefferson Davis . He was pardoned by President Johnson under the influence of Southern Democrats who had swung the
electoral vote in an alleged backroom deal. Some other “trivia,” Davis was the son-in-law of former president Zachary Taylor (who was prepared to hold the Union together by armed force rather than by compromise) and US Secretary of War (53-57).
(see Horace Greely: http://politicalgraveyard.com/bio/graybill-greely.html )
http://www.ngeorgia.com/people/davisj.html
http://www.whitehouse.gov/history/presidents/zt12.html
1878- Settlers arrive at Petach Tikvah Israel from various parts of the world, including America.
http://www.index.co.il/trips/engcity/petachtikva.htm
1879-Thomas Edison said he could invent a safe electric light bulb. Although electric arc lights had existed for more than ten years, their high intensity made them a fire hazard Financiers, including J.P. Morgan and the Vanderbilt family, took Edison at his word and established the Edison Electric Light Company later that year. After more than a year of experiments, Edison and his young assistant, Francis Upton, finally developed a carbon filament that would burn in a vacuum in a glass bulb for forty hours. They demonstrated the light bulb to their backers on Dec. 3, 1879, and by the end of the month, were exhibiting the invention to the public. On December 31, 1879, the Pennsylvania Railroad ran special trains to Edison's Menlo Park laboratory to let the public witness a demonstration of the invention.
1892- Harriet Stratemeyer Adams birthday, claimed to be the author of all 55 of the Nancy Drew mysteries and most of the Hardy Boys and Toms Swift Jr., series as well as numerous books in the Bobbsey Twins and other books in the Stratemeyer publishing empire. Took over the organization in 1930 when her father died. Most of the books were ghosted by writers she hired, but the fable that she both created the series and write the stories still lives on.
http://www.fantasticfiction.co.uk/authors/Harriet_Stratemeyer_Adams.htm
http://www.hindu.com/thehindu/yw/2002/03/30/stories/2002033000130300.htm
1896-Hermann Hollerith incorporated the Tabulating Machine Company. At age twenty-nine, Hollerith, who had worked at the Census Bureau in 1880, won a competition to develop the most efficient counting system for the 1890 census. His tabulating machine counted punched cards, inspired by a card system developed by Joseph Jacquard of France to program patterns into textile looms. Through a series of mergers and reorganizations, the Tabulating Machine Company eventually became IBM.
1897-Birthday of social artist William Gropper. Died 1977.
http://www.artcyclopedia.com/artists/gropper_william.html
1902- Birthday of Mitsuo Fuchida, the pilot who flew the lead plane in Japan's air attack on Pearl Harbor (12/7/1941). Following WWII, through representatives of the Pocket Testament League, Fuchida was converted to Christianity in 1950.
1902-Birthday
of clarinet player Joe “Brother Cornbread” Thomas, New Orleans,
LA
http://jazz-band.net/band.php?id=8d057992joethom4fe214b32a67f640d
1903-Birthday of trombone player Brad Gowans , Billerica, MA,
1907-singer Connie Boswell birthday, perhaps best known as part of the Boswell Sisters singing group. After her sisters married, she continued as a solo performing mostly from a wheelchair. She'd been a victim of polio as a child and then had a fall that aggravated the situation. She played a number of instruments and was a gifted arranger.
http://www.otrcat.com/connieboswell.htm
http://www.amazon.com/exec/obidos/tg/guides/guide-display/-/
2GC0M8R0CLCO5/104-3191958-8595946
1919-Birthday of piano player/composer Herbie Nichols, New York City, NY,died 1963.
http://ourworld.compuserve.com/homepages/damonshort/nichols.htm
http://www.amazon.com/exec/obidos/ASIN/193008000X/inktomi-
bkasin-20/002-5410374-3716044
1922-The first movie in Technicolor that was considered released for commercial purpose plus was “really successful” was “ The Toll of the Sea,” released this day at the Rialto Theater, New York City. The process was developed by Dr. Herbert Thomas Kalmus, president and general manager of the Technicolor Motion Picture Corporation form its inception until 1959.
1922-Birthday of Joseph Edward “Joe” Collins, baseball player born at Stanton, PA. As a first baseman for the New York Yankees, Collins played in seven World Series. He hit tow home runs off Don Newcome in Game 1of the 1955 series (I was there and remember it, too). August 30, 1989.
1925 - The first jazz concerto for piano and orchestra was presented at Carnegie Hall in NYC. Commissioned by Walter Damrosch, American composer George Gershwin presented "Concerto In F", and was also the featured soloist playing a flugelhorn in a slow, bluesy style as one of his numbers.
1929-Birthday
of sax/clarinet player Clarence Ford, New Orleans, LA
http://www.artistdirect.com/music/artist/card/0,,431599,00.html
http://www.rasputinmusic.com/albumpage.cfm?sku_num=7464663392
1929-Birthday of trombone player Fred Assunto , New Orleans, played with the Dukes of Dixieland http://www.jazzbymail.com/artists/dod.html
1929- Showing extreme optimism, if not foresight, President Herbert Hoover declared to Congress that the nation had shaken off the impact of the recent stock market crash and regained its faith in the economy. “Happy Days Were Here Again,” he tried to make his theme song( Ironically, it became FDR’s theme song, along with “Brother Can You Spare a Dim.” ). The Teapot Dome scandal and trial under undermined his leadership, but it was his lack of understanding the
economy that did him in. In the 1930, he called a special session of Congress to take up tariff revisions, which he had promised in his presidential campaign the previous fall. Hoover primarily wanted to have tariff rates raised on agricultural products. By the time it was over, the Smooth-Hawley Act also included some of the highest rates in history on manufactured products. Hoover signed the act into law on June 17 despite the fact that on May 4 a petition singed by 1028 economists had been sent to Washington urging defeat of the proposed legislation. Within two years, 25 nations retaliated by raising duties on US Goods. The economic nationalism triggered by this legislation had been blamed for deepening the worldwide depression. A report in 1931 recommended repealing
the anti-probation law, however, Hoover opposed it. In the 1932 election,
Hoover received a popular vote of 15,761,841 with 59 electoral votes to
Roosevelt’s 22,821,857 and 472 electoral vote. The democrats also gained
13 senate seats and 90 house seats.
http://www.utu.fi/hum/historia/yh/scarry/USDocuments/HappyDays.htm
1930-Birthday of singer Andy Williams, born Walt Lake, IA. Platinum album: Love Story, 13 gold albums.
1931 -- Unemployment in American reaches 13.5 million — almost 1/3 of the American work force. In Los Angeles alone, shelters give asylum to over 200,000 persons. Many choose instead to hit the road — another 200,000 become freight car migrants on the Missouri Pacific Line. Severe drought hits the midwestern and southern plains. As the crops die, the 'black blizzards" begin. Dust from the over-plowed and over-grazed land begins to blow.
1932-Birthday of singer/actress Jaye P. Morgan, ( Mary Morgan )New York, NY, 1932. http://us.imdb.com/Name?Morgan,+Jaye+P. http://www.darkpeak.freeserve.co.uk/forfemmes/page43.html
http://www.amazon.com/exec/obidos/ASIN/B0000036LU/
avsearch-df1-9-20/002-5410374-3716044
1932-Birthday of trumpet player Webster Young, Columbia, SC
http://www.fantasyjazz.com/catalog/young_w_cat.html
1942- Frank Sinatra’s first solo engagement, Paramount Theater, New York City.
1946 -- General Strike in Oakland, California. 100,000 workers from 142 AFL unions — including workers from factories, industries, services, retail stores, transportation systems and more — declare a "work holiday" and walked off their jobs. The three-day General Strike of more than 130,000 workers in Alameda County (Oakland) CA, opposed police brutality and supported striking Oakland department store workers. It lasted until city and labor leaders settled on a compromise agreement, returning workers to their jobs on Dec. 5. In following months, the populist Oakland Voters League brought together progressive factions in the city to elect four out of five labor candidates to the city council.
1947 -- Tennessee Williams' A Streetcar Named Desire, opens today at New York's Ethel Barrymore Theater and runs for 855 performances. Jessica Tandy, Marlon Brando, Kim Hunter, & Karl Malden star.
1948—Top
Hits
Buttons and Bows - Dinah Shore
On a Slow Boat to China - The Kay Kaiser Orchestra (vocal: Harry Babbitt
& Gloria Wood
You Were Only Fooling - Kay Starr
One Has My Name (The Other Has My Heart) - Jimmy Wakely
1951-
Paul Harvey begins his national radio broadcast.
http://www.610wtvn.com/staff/paulharvey/
http://www.klmj.com/harvey.htm
1953-President Eisenhower criticizes McCarthy for saying communists are in Republican party.
1953 - "Kismet" opened on Broadway in New York. The show ran for 583 performances.
1955 - Elvis Presley’s first release on RCA Victor Records was announced. No, it wasn’t "Hound Dog" or "Heartbreak Hotel". The first two sides were actually purchased from Sam Phillips of Sun Records: "Mystery Train" and "I Forgot to Remember to Forget". Elvis was described by his new record company as “The most talked about personality in recorded music in the last 10 years.”
1956- Wilt Chamberlain's 1st collegiate basketball game (scores 52).
http://www.nba.com/history/chamberlain_bio.html
1956—Top
Hits
Singing the Blues - Guy Mitchell
Blueberry Hill - Fats Domino
True Love - Bing Crosby & Grace Kelly
Singing the Blues - Marty Robbins
1960 - "Camelot" opened at the Majestic Theatre in New York City. Richard Burton and Julie Andrews played the leading roles in the musical written by Lerner and Loewe. Robert Goulet also got rave reviews. "Camelot" had a run of 873 performances. Broadway went Hollywood in the 1967 film version of "Camelot". Its run was not quite as successful.
1962- Roger Hilsman, director of the State Department Bureau of Intelligence and Research, sends a memorandum to Secretary of State Dean Rusk pointing out that the communist Viet Cong fighters are obviously prepared for a long struggle. Hilsman felt that a noncommunist coup against Diem "could occur at any time," and would seriously disrupt or reverse counterinsurgency momentum. As it turned out, Hilsman was eventually proven correct. On November 1, 1963, dissident South Vietnamese generals led a coup resulting in the murder of Diem. His death marked the end of civilian authority and political stability in South Vietnam. The succession of military juntas, coups, and attempted coups in 1964 and early 1965 weakened the government severely and disrupted the momentum of the counterinsurgency effort against the Viet Cong. While the administration had accurate intelligence reports, they ignored them as Lyndon B. Johnson feared being perceived as weak against communist expansion in the far east.
1964- Police arrests 733 sit-in students at University of California at Berkeley
( I helped cover this for KFRC radio, San Francisco, stringing also for UPI audio/AP.
http://www.fsmitha.com/h2/ch28.htm
1964—Top
Hits
Leader of the Pack - The Shangri-Las
She’s Not There - The Zombies
Mr. Lonely - Bobby Vinton
Once a Day - Connie Smith
1965-Birthday
of Olympic gold medal figure skater Katrina Witt, born Karl-Marx-Stadt,
East Germany.
1967- Dr. Christian Bernard, a South African surgeon, performed
the world's first successful heart transplantation at Cape Town, South Africa.
1969 -- John Lennon is offered role of Jesus Christ in "Jesus Christ Superstar."
1972—Top
Hits
Papa Was a Rollin’ Stone - The Temptations
I Am Woman - Helen Reddy
If You Don’t Know Me by Now - Harold Melvin & The Bluenotes
She’s Too Good to Be True - Charley Pride
1977 - After 29 weeks in the #1 position on the album charts (a record, literally...), "Rumours", by Fleetwood Mac, was replaced at the top spot by the album "Simple Dreams", sung by Linda Ronstadt.
1979- Nearly a dozen young people are killed at concert of the rock band The Who in Cincinnati, Ohio. Eleven victims were trampled to death during a stampede for seats at the Riverfront Coliseum. The band was not informed of the deaths until after the show.
1980—Top
Hits
Woman in Love - Barbra Streisand
Another One Bites the Dust - Queen
He’s So Shy - Pointer Sisters
If You Ever Change Your Mind - Crystal Gayle
1984 - Miss America 1971, Phyllis George, wife of the Governor of Kentucky and an heiress to the Kentucky Fried Chicken fortune, signed a multiyear contract with CBS-TV. Her work as co-anchor of the "CBS Morning News" began in January 1985.
1986 - Bobby Knight led the Indiana Hoosiers past Notre Dame 67-62. For only the second time in his 22-year basketball-coaching career, Knight relied on a zone defense. He also threatened to throw 20 chairs onto the floor to trip Fighting Irish players, so maybe that had something to do with it, too.
1988—Top
Hits
Baby, I Love Your Way/Freebird Medley (Free Baby) - Will To Power
Look Away - Chicago
How Can I Fail? - Breathe
I Know How He Feels - Reba McEntire
1994 - "On Bended Knee", by Boyz II Men, hit number one on the "Billboard" "Hot 100". The smash was #1, off and on, thru January 1995.
2001- Although Enron has filed for Chapter 11 bankruptcy, the corporation is current on its payments and plans to keep the company's name on Astros' new ballpark, according to Astro officials.. The downtown stadium will stay Enron Field as long as Enron continues to exist and makes regular payments on its 30-year, $100 million commitment they stated.
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