Thursday, January 6, 2022
Today's Leasing News Headlines
Lovern J. Gordon, CLFP, Responded
on being named 2021 Person of the Year
Ralph Mango, located in Northern Virginia, Was Without
Power for 19 hours Monday and Tuesday
Legal Editor Ken Greene Requested a Statement in
Commitment Letters due to California and New York Laws
New Hires/Promotions in the Leasing Business
and Related Industries
Leasing Industry Ads
Now Hiring in Sales and Operations
The House that Jerry Built Redux
by Christopher Menkin, Publisher
US Energy Capital Acquired
Jim Borland Retires
Fairfield Capital Announces Record
eMobility Lease Financing Activity in 2021
AP Equipment Financing 2021 Originations
Up 22% to $238MM
Franklin BSP Lending Corporation & Franklin BSP Capital
Affiliates of Benefit Street Partners,
Acquire Encina Equipment Finance, LLC
Best of 2021 in Film: Annette, Benedetta, Cry Macho
The Card Counter, Drive My Car, The Power of the Dog,
Siberia, West Side Story, Summer of Soul, Velvet Underground
German Shepherd
Martinez, California Adopt-a-Dog
AACFB Webinar Broker Transitions
Monday, January 10, 2022 3:00pm ET
News Briefs---
Inflation could linger longer than previously expected
Federal Reserve officials discussed in December
Supply Chain Woes Prompt a New Push
to Revive U.S. Factories
Toyota Topped G.M. in U.S. Car Sales in 2021,
a First for a Foreign Automaker
Fans Are Celebrating Betty White's 100th Birthday
by Donating to Animal Shelters
You May have Missed---
More than 40 percent of Americans live in counties
hit by climate disasters in 2021
Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
www.leasingcomplaints.com (Be Careful of Doing Business)
www.evergreenleasingnews.org
Leasing News Icon for Android Mobile Device
Sports Brief----
California Nuts Brief---
"Gimme that wine"
This Day in History
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
######## surrounding the article denotes it is a “press release,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer, it is considered a “byline.” It reflects the opinion and research of the writer.
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Lovern J. Gordon, CLFP, Reacts
to being named 2021 Person of the Year
“This is beyond ANYTHING I could have imagined after entering the industry in 1999 under Debbie Monosson at Boston Financial and Equity Corporation...this is insanely humbling and haven't quite found the words to express how much gratitude I feel...THANK YOU VERY MUCH
“I have been blessed to be a part of an industry where folks are always willing to listen, as it relates to the work at Love Life Now Foundation and in turn, many have become part of the solution around DV awareness.
“Reid Raykovich, CLFP, thank you from the bottom of my heart.”
Lovern J. Gordon, CLFP
2021 Leasing News Person of the Year
https://leasingnews.org/archives/Jan2022/01_04.htm#poy
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Ralph Mango, located in Northern Virginia, Was Without
Power for 19 hours Monday and Tuesday
He was unable to proof Tuesday’s news edition and we appreciated readers catching the errors, which we hope all were corrected. We certainly missed Ralph’s contribution in editing and proofing.
-
Editor
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Legal Editor Ken Greene Requested a Statement in
Commitment Letters due to California and New York Laws
In the “Commitment to Lease” or “Make Loan Agreements Often Have Full Disclosure” that he wrote several years ago and recently published, Ken Greene wanted it amended to note that both California and New York Laws will have their rules and procedures in place this year for all non-bank commercial transactions, such as Capital Leases, Equipment Finance Agreements, Factoring, and Merchant Cash Advance.
This means assuring that the licenses of offices and branches located in the state or doing business in the state, follow the law. Most likely this will require a separate document, a legal agreement, a commitment, fully disclosing APR, First and Last payments, and Purchase Option procedure and recognized by both parties (not part of the actual contract.
While Boston Financial has published such rates and software such as True Value, and many companies have such programs on thier website, the law will be different. Other states are going through the process of such a change as California and New York.
The following will still be valid in states not adopting the present law, but readers should be aware these forms are only proposals and are only proposals in states who have not adopted the new
disclosure procedure.
Commitment to Lease or Make Loan Agreements
Often Have Full Disclosure
https://leasingnews.org/Conscious-Top%20Stories/Engagement_letters.htm
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New Hires/Promotions in the Leasing Business
and Related Industries
Steven Barnes was hired as Wireless Equipment Financing Specialist, Navitas Credit Corporation, Ponte Vedra, Florida. He is located in Orange County, California. Previously, he was Senior Account Executive, Lease Corporation of America (May, 2013 - January, 2022); Account Executive, BearCom (May, 2011 - May 2013); Regional Sales Manager, Business Direct Capital (2007 - 2010); Electronics Technician, 3rd Class Petty Officer, US Navy (1998 - 2004). Education: Saddleback College, Associate of Science (A.S.), English Language and Literature/Letter (2015 - 2016). Activities and Societies: Phi Theta Kappa Honors Society.
https://www.linkedin.com/in/stevenbarnes1/
Thomas Borchert was hired as Account Executive, Blue Street Capital, Huntington Beach, California. Previously, he was Senior Recruiting Coordinator, NCSA Next College Student Athlete (July, 2019 - November, 2021); Sales Consultant, Los Angeles Chargers (March, 2019 - July, 2010); Office Manager, American Home Loans (October, 2016 - March, 2019); Recruiter, Insight Global (October, 2015 - October, 2016); Cabin Counselor/Waterfront Assistant, Catalina Island Camp (May, 2015 - August, 2014); Manager, Revo Pizzabar (October, 2014 - May, 2015). Education: Arizona State University, Bachelor of Science (BS), Communications and Media Studies. Activities and Societies: ASU Football Team Walk-On (2014), Linebacker. https://www.linkedin.com/in/thomas-borchert-559599112/
Lainie Coeby was hired as Vice President, Broker Relations, Centra Funding, LLC/4 Hour Funding LLC, Plano, Texas. She is located in Tyron, North Carolina. Previously, she was Vice President, Business Development, Dedicated Funding, LLC (January, 2019 - January, 2022); Senior Account Executive, Patriot Leasing/Susquehanna Commercial Finance/BB&T Commercial Equipment Capital (March, 2004 - January, 2019); Senior Account Executive, Fidelity Leasing/CitiCapital (January, 1999 - March, 2004). Education: Arizona State University, Liberal Arts and Sciences/Liberal Studies. RA, Weidel Real Estate School, Temple University, Mathematics and Sciences. https://www.linkedin.com/in/lainie-coeby-1aa40054/
Ron Elimelekh was hired as Chief Operating Officer and Chief Capital Officer, Sotheby’s Financial Services, New York, New York. Previously, he was Head of Capital Markets, Oak North (September, 2019 - July 2020). Prior, he was at OnDeck, starting January, 2014, Senior Director of Legal Affairs, Capital Markets; promoted August, 2015, VP, Legal Affairs; promoted February, 2017, VP, Capital Markets; promoted June, 2017, VP, Head of Capital Markets; promoted August, 2019, SVP, Head of Capital Markets. Prior, he was at FSI Capital, starting July, 2007, Director and Counsel; promoted, January, 2010, General Counsel. Associate, Weil, Gotshal & Manages, LLP (September, 2004 - June, 2007). Education: New York University School of Law, Juris Doctorate (2001 - 2004). Binghamton University. https://www.linkedin.com/in/relimelekh/
James Friedrichs was hired as Vice President, Verdant Commercial Credit, Cincinnati, Ohio. He is located in Eden Prairie, Minnesota. Previously, he was Sales, TCF Equipment Finance (June, 2017 - January, 2022); Territory Manager, WFEF, Wells Fargo (February, 2003 - June, 2017). Education: Baylor University, Hankamer School of Business. Bachelor of Business Administration, BBA, Finance (1988 - 1992). https://www.linkedin.com/in/james-friedrichs-6a2a8a81/
Lawanna (Lou) Gatton was hired as Managing Director, SLED Equipment Finance, TEQlease Capital, Calabasas, California. She is located in Plattsburgh, New York. Previously, she was VP Public Finance Sales, SunTrust Equipment Finance and Leasing Corp. (June, 2000 - January, 2015); Consultant to Dental Practice, Independent Dental Practice (1999 - 2000); Finance, Carolina Hand Surgery Associates (1996 - 1999); Assistant to Head of Pediatric Orthopedic Surgery, John Hopkins University (1991 - 1996). Education: SUNY Empire State College, Bachelor of Science, BS, Business Management and Economics.
https://www.linkedin.com/in/lawanna-lou-gatton-6357989/
Chris Herman was hired as Relationship Manager, Verdant Commercial Capital, Cincinnati, Ohio. He is located in Troy, Michigan. Previously, he was Vice President, Ascentium Capital (October, 2015 - January, 2022); Vice President, National Account, Tip Capital (May, 2012 - September, 2015): Account Executive, Business Development, Venteon Finance (September, 2011 - May, 2012); Sales Consultant, UniFirst Corporation (June, 2010 - September, 2011). He joined Lease Corporation of American February, 2004, as Account Executive, promoted November, 2007, Business Development Office. Branch Manager, Enterprise Rent-a-Car (November, 1997 - December, 2003). Education: Oakland University, BS, Finance (1992 -1997). https://www.linkedin.com/in/chris-herman-b29ba17/
Mark Messier was hired by First Business Bank, Madison, Wisconsin, as Vice President, Equipment Finance. He is based in Virginia. He has joined the First Business Specialty Finance, LLC, a subsidiary of First Business Bank. David Sook, Senior Vice President, Sales Manager, said, “(He has) more than 25 years of sales and management experience in the towing and recovery industry. His industry connections and previous career within towing companies will serve us well as we seek to provide greater value to our clients.”
Chad Owens was hired as Head of Equipment Finance, CF Bank, Columbus, Ohio. Previously, he was Vice President, Key Equipment Finance (November, 2013 - January, 2022). He joined Huntington National Bank November, 2005 as Business Development Executive, promoted April, 2012, Associate Director, Foreign Exchange; Practice Finance, Bank of America (2002 - 2005). Education:
Ohio University (1994 - 1999). ESC Rennes, International Banking (1997 - 1997).
https://www.linkedin.com/in/chad-owens-7563b37/
Joshua Patton was hired as Vice President, Verdant Commercial Capital, Cincinnati, Ohio. He is located in Rochester, Michigan. Previously, he was Vice President, Sales, Ascentium Capital (May, 2012 - December, 2021); Regional Sales Manager, London Leasing (December, 2011 - May, 2012). He joined Lease Corporation of America January, 2005, promoted July, 2007, Business Development Officer; Account Executive, MedCap Leasing, LLC (May, 2004 - December, 2004). License: Content Marketing: Blogs, Lynda.com. Issued September, 2016. Expired September, 2016. Education: Oakland University, Bachelor of Science, Marketing (2000 - 2004). Activities and Societies: Oakland University Basketball Team 2000 - 3004). Minor in Economics.
https://www.linkedin.com/in/josh-patton/
Sean D. Ransom was hired as Program Analyst, NVE, Philadelphia, Pennsylvania. Previously, he was at Marlin Capital Solutions, starting August, 2006, Consumer Visa Credit, March, 2009; Small Business Credit Loan Administration II; TD Equipment Finance Operations Officer V, TD Equipment Finance, Inc. (October, 2017 - November, 2019); Shipping Receiving Supervisor, Burlington Coat Factory (August, 2004 - July, 2006); Local Network Porting, Paetec Communications, Inc. (October, 2003 - July, 2004); Home Mortgage Consultant, JP Morgan Chase & Company (November, 2001 - September, 2003); Credit Collections Specialist, Sears, Roebuck & Co. (September, 1999 - November, 2001). Volunteer: Special Olympics Volunteer, TD (April, 2016 - Present). Volunteer Staff, National Kidney Foundation (June, 2015 - Present). Education: Camden County College, Business Administration and Management, General (2014 - 2016). Grade A-B. University of Phoenix, Accounting and Business Management (2010 - 2012). Grade: B.; Edgewood Senior High School, H.S. Diploma, Business Administration and Management, General (1994 - 1998). Grade B. Harvard University. Business Administration and Management, General. 2020. https://www.linkedin.com/in/sean-d-ransom-b5595bab/
Mark Sheehan, CLFP, was hired as Vice President and General Manager, Capital Markets and Strategic Partnerships, Burlington, Massachusetts. He is located in Flower Mound, Texas. Previously, he was a Lease Corporation of America, starting March, 2020, as Vice President, National Account Business Development, promoted March, 2020, Vice President, National Accounts and syndication; National Account Executive, Crestmark Bank (November, 2016 - May, 2020);. Vice President, Wintrust Capital (December, 2014 - October, 2016); Vice President, Business Development, EverBank (December, 2012 - December, 2014); Vice President, Sales, PNC Financial Services Group (February, 2013 - December, 2012); Vice President, Sales, First Data Corporation; Account Sales Manager, Comdisco (January, 2000 - October, 2001); Regional Account Manager, Extricity Software (April, 1999 - January, 2000); Senior Account Manager, Versant (March, 1994 - February, 1999); Managing Director, Director of Vendor Relations and Sales Support, Platinum Technology (September, 1991 - March, 1994); Sales Support/Manager, XA Systems (April,1988 - August, 1991); DBA, EDS (1980 - 1988). Education: University of Cincinnati. https://www.linkedin.com/in/mark-sheehan-77b64b2/
Cody Sanguinetti, CLFP, was promoted to Divisional Assistant Vice President of Business Development for Specialty Equipment, Great American Insurance Group, Cincinnati, Ohio. He is located in Hillsboro, Oregon. He joined the firm April, 2008, Senior Account Manager, promoted March, 2013, Manager, Account Management; promoted January, 2017, Product Manager, promoted August, 2020, Business Development Manager. He joined AIM Healthcare March, 2005, Regional Account Manager, promoted March, 2006, Assistant Regional Director. Certificate: Certified Leasing and Finance Foundation, August, 2020. Education: University of Cincinnati Carl H. Lindner College of Business. Master of Business Administration (MBA) Business. (2018 -2020). Grade: 3.94. University of Oregon, Charles H. Lundquist College of Business. Bachelor's Degree, Business Administration and Management, General. (2000 -2004). Grade: 3.06. Minor in Computer Information Technology.
https://www.linkedin.com/in/codysanguinetti/
Gavin Shea was promoted to Managing Director, Small Business Lending, First Republic Bank, San Francisco, California. He is located in the greater San Francisco area. He joined the bank August, 2020, as Managing Director, Professional Services. Previously, he was Senior Vice President, National Director, Healthcare, Wells Fargo (January, 2015 - August, 2020); SVP, Equipment Lease and Finance Manager, Umpqua Bank (December, 2011 - December, 2014); Director of Sales, Healthcare, Wells Fargo (October, 2007 - November, 2011); Regional Production Manager, Matsco (June, 2004 - September, 2007). Education: California State University, Fresno. Bachelor of Science (BS), Marketing (1992 - 1996). https://www.linkedin.com/in/gavin-shea-10838a51/
Kirk Stone was hired as Senior Vice President, Commercial Laundry, Prime Capital Funding. Previously, he was Senior Vice President, Commercial Laundry Division, United Financial Corporation, West Des Moines, Iowa. He joined Eastern Funding, LLC, as Loan Officer, starting June, 2017; Vice President, Vendor Group, US Capital Corporation (February, 2007 - May, 2017). Education: American Institute of Business (1976 -1978).
https://www.linkedin.com/in/kirk-stone-085464b/
Heather Valvoada was promoted in October, 2021 but announced as Strategic Technology Analyst, GreatAmerica Financial Services, Cedar Rapids, Iowa. She joined the firm October, 2014, as Sales Support Specialist. https://www.linkedin.com/in/heather-valvoda-965296147/
Paul Witte was promoted to Executive Vice President/Chief Lending Officer, First Bank Richmond. He joined the bank November, 1996 as Senior Vice President, Commercial Lending, Commercial Leasing, Business Development and Senior Management. Previously, he was Assistant Branch Manager, First of America Bank (1995 - 1996). Volunteer: Board President, Economic Development Corporation of Wayne County, Indiana (January, 2016 - Present). Board Member, Way County Area Chamber of Commerce (January, 2016 - Present).
https://www.linkedin.com/in/paul-witte-a337957/
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Help Wanted Ads
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The House that Jerry Built Redux
By Christopher Menkin, Publisher
In writing the article "Bank of the West Sold for $16.3 Billion” the treatise was “Once very active in the leasing and finance business marketplace when the vendor and indirect operations were moved to Arizona from San Francisco and Dublin, California. “This was referring to the history of the “house” that Jerry built, which was a very active and growing indirect and then direct leasing/finance group.
A reader questioned the reference. It was stated in the article that BNP Paribas made a lot of money in the transaction, as well as BMO Harris Bank picked up a lot of customers and a direct leasing/finance market portfolio. These were the buyer and seller achievements.
However, change brings similar occurrences such as what to what occurred when CIT bought Direct Capital, or GE bought Colonial Pacific
To understand this better, there was the link about change to the “House Jerry Built” written in February, 2013:
Jerry Newell, CLP, Executive Vice President, Equipment Finance Division, Bank of the West, San Francisco, California is planning to retire in 30 days, on March 1, 2013. The bank announced that John Evans who has led the Vendor business will be promoted to Equipment Finance Division Manager.
“John has a deep understanding of the business and he and I have partnered closely for 7 years so he is well positioned to continue the bank’s focus on our clients’ growth,” Jerry said.
When Jerry took over Bank of West Leasing in July, 1994, (formerly CenVal Leasing, and part of the acquisition of Central Bank) from Manager Doug Hatch and business development head Russ Rickards, there were six employees who produced $20 million in annual sales. All business was indirect. He had a plan in mind. He is leaving March 1st, having grown the business to 210 employees, $1.5 billion in sales and $3.6 billion in assets, and created a multi-channel business that includes indirect, direct, and vendor equipment finance units, a "back office" operation in Oregon, and an inventory flooring business, now spread across the United States.
Newell is retiring at the young age of 57, after 35 years of employment in the banking industry, rising through several banks starting with Lloyd’s Bank for ten years, including one year with Sanwa, which purchased the bank where he was working. He then joined Bank of the West in 1987; he received his Bank of the West 25 year anniversary wrist watch last November.
In the interview with Leasing News, with a bank public relations officer approving what he was revealing, he started with his graduation from Georgetown University, BSFS, Economics, followed by an MBA in Finance from Golden University. As he explains it, he went through the Lloyds Bank management training program, then started advancing through the corporate lending organization.
After moving to Bank of the West, Newell continued in corporate lending and then credit administration until he was offered the opportunity from now former CEO Don McGrath, as he explains it, to “manage and grow his own business within the bank. I have been fortunate to have had a very entrepreneurial experience running this specialized business, but always with the strong backing and support of Bank of the West.”
As Newell explains in "Why I became a CLP," "I had 15 years of bank commercial lending and credit administration experience, but no background in the equipment leasing and finance industry. I learned the business through on the job experience, working with knowledgeable colleagues, reading and course work." (2)
When Newell started managing Equipment leasing in 1992 it was a broker funding source only. He grew this broker business significantly, but also one of the first changes he made was to go "direct," meaning business from bank branches, expanding to help bank customers. The direct business was further expanded in early 2002 with the bank’s acquisition of United California Bank (formerly Lloyds and then Sanwa Bank) when Newell employed that leasing team to focus on Direct. (3)
In November 2002, Bank of the West Equipment Finance took a big step forward into the Vendor and Managed Services business channels with the acquisition of Trinity Capital Corporation. "Partnering with Bank of the West will allow us to expand our offerings to the industries we serve and will also contribute significantly to the success of Bank of the West," said Jim Halow, President of Trinity Capital. Trinity owners Jim and Donna Halow will continue in their executive positions. No staff reductions are planned. Trinity Capital Corporation was launched in San Francisco by the Halows in 1980, and specializes in nationwide vendor leasing programs for manufacturers in specific vertical markets.” (4)
Nick Gibbens, vice president of Trinity Sales at the time, is today Vice-President, Equipment Finance, located in San Francisco, managing two business units within Bank of the West's Equipment Finance Division Vendor unit: Diversified Equipment Solutions and Third Party Originations.
In 2007, Newell also launched Dealer Financial Services to provide dealer inventory flooring, with the goal of providing full service retail and wholesale offerings to their Vendor relationships. Managed Services is also now located in Portland, Oregon under the direction of Eric Gross, primarily involved in what is known as providing “back office” for smaller banks, leasing companies and other financial entities.
Bank of the West’s Equipment Finance Division is now quite large and profitable, and meeting Jerry’s original goal: a national, multi-channel equipment finance business to not only service lease brokers, but also bank customers and Vendors, both manufacturers and their dealers.
Senior executive vice president Jean-Marc Torre, head of Bank of the West’s Commercial Banking Group, said:
“Jerry’s smooth and consistent management style, precision in setting and achieving targets, unique blend of deep experience and fresh insight, and utmost professionalism have been great assets for Bank of the West…
”We thank Jerry for his contributions to our business and wish him all the best.”
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As a side note, Jerry should get the credit for a major change in Leasing News. The internet was still text as was Leasing News and going into HTML. Leasing News decided to design its HTML program for portrait and digital readership, not magazine or newspaper style, as well as the freedom of advertising placement and size. The trend was going to flash, banners, and reproduction of press release. Jerry said he read Leasing News for the news about the industry on his hand held blackberry while traveling from his office in San Francisco to the indirect leasing operation in Walnut Creek, California (at the time.) Leasing News realized if Jerry was doing it, other would follow as he was not only a leader in finance and leasing ---but in viewing the future.
We certainly will miss him, too. A straight shooter.
Leasing News
(1) http://two.leasingnews.org/archives/October2002/10-21.htm#trinity
(2) Why I Became a CLP
http://leasingnews.org/archives/Apr2012/4_12.htm#clp
(3) http://www.leasingnews.org/Conscious-Top%20Stories/BOW_New_program.htm
(4) http://two.leasingnews.org/archives/Nobember_2002/11-13.htm#old
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US Energy Capital Acquired
Jim Borland Retires
Jim Borland, President of US Energy Capital, just announced that he has sold the company. Jim was the founding president of the National Association of Equipment Leasing Brokers (NAELB), now the American Association of Commercial Finance Brokers. This association is one of the nation’s largest equipment financing and lease broker associations.
Jim has been very active in our industry for over 40 years. USECC specialized in the retail petroleum and c-store industries. The company has over the years had a close relationship with the marketers for Conoco, Texaco, Citgo, Star Enterprises and Shell Oil Company.
Jim has been very active speaking at various conventions and trade shows of the following associations: FPMA, NACS, NASM, PEI AND THE PMAA
US Energy Capital was acquired by MORNINGSTAR ENERGY CORPORATION in Stuart, Florida and is becoming a leader in the mandated US Government program to reduce CO2 emissions by 2027.
Jim is very excited to be acquired and is now is living a good life with his wife of 52 years on the Lake Oconee about an hour’s drive East of Atlanta.
Jim can still be reached on his cell of 770-354-9933 and his new e-mail as of Jan 1st is: gembo9541@gmail.com
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Fairfield Capital Announces Record
eMobility Lease Financing Activity in 2021
Naples, -- Fairfield Capital Group, LLC (www.fairfieldcapital.net) today announced that its renewable energy practice advised, arranged and closed almost $360 million of lease financings for renewable energy equipment in 2021.
Fairfield Capital, which was founded in 2004, is a boutique investment firm that provides equipment financing advisory and placement services for both manufacturers and users of capital equipment with its primary focus being the renewable energy/clean technology market. Fairfield Capital has closed almost $1 billion of equipment used in eMobility applications in just the last few years.
According to Dana J. Pasternak, Managing Director and Founder of Fairfield Capital, “We fully expect another year of 50%+ growth in our renewable business in 2022 as the American economy has clearly reached a tipping point and extremely robust growth is occurring in all aspects of the green economy. Although the Green Energy provisions that the Biden Administration proposed in its Build Back Better legislation would provide a big boost to the renewables business, the existing momentum is this market is so great that extremely rapid growth will occur whether or not the proposed tax incentives and credits are enacted.”
“We expect to add several new investment banking clients in 2022 and believe that we will close as much as $600 million in new business. In some segments of the renewables market—specifically hydrogen—we believe that we have more experience and a longer track record than any other advisor in the market and hope to further capitalize on that advantage.”
For more information, visit our website at www.fairfieldcapital.net or contact us at info@fairfieldcapital.net.
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AP Equipment Financing 2021 Originations
Up 22% to $238MM
AP Equipment Financing funded a record $239 million in 2021, a 22 percent growth over 2020. AP’s growth came despite supply chain issues and equipment shortages that affected its vendors' customers in 2021.
AP Equipment Financing President Chris Lerma, CLFP, said, “The year started off slow with some lingering uncertainty from 2020, but we continued to stay focused on the strategy of leveraging our technology, systems, industry expertise and dedicated team to finish with our strongest year to date. We are grateful for all of our employees’ hard work and dedication while continuing to work in a remote environment.”
AP Equipment Financing has continued to fine-tune its systems to enhance efficiency and create opportunities for optimal growth through optimizing its digital technologies, enhancing back-end efficiencies and revamping its dedicated vendor origination program. These efforts were rewarded with a record-breaking fourth quarter funding volume of $86 million.
AP Equipment Financing now actively manages a portfolio of 12,000 contracts and over $500 million of receivables. The company is grateful to be in a position to help so many small businesses expand and grow through new equipment purchases.
Chris Enbom, CLFP, CEO, commented, “We continue to invest heavily in technology, and the investments are paying off with very high customer satisfaction with our financing and affiliated products. I am very proud of our highly professional staff who have positioned AP to continue to grow quickly in 2022 and beyond.”
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Franklin BSP Lending Corporation & Franklin BSP Capital
Affiliates of Benefit Street Partners,
Acquire Encina Equipment Finance, LLC
NEW YORK, N.Y. – Franklin BSP Lending Corporation (“FBLC”) and Franklin BSP Capital Corporation (“FBCC”), business development companies advised by affiliates of Benefit Street Partners L.L.C. (“BSP”), today announced the acquisition of substantially all of the equity interests of Encina Equipment Finance, LLC (“Encina Equipment” or “EEF”), a leading non-bank equipment finance platform providing secured leases and loans to middle-market companies. The acquisition provides EEF with a capital base to support the continued expansion of its platform as a leading equipment finance solutions provider in the US and Canada.
Encina Equipment provides leases and loans secured by revenue-producing, essential-use equipment ranging in size from approximately $5 million to $50 million to middle-market, non-investment grade companies across a range of industries. Since its inception in 2017, EEF has underwritten more than 125 transactions totaling over $1 billion in cumulative funded volume.
Encina Equipment will continue to be led by Rick Matte, its President and CEO, and remain headquartered in Westport, CT. As part of the transaction, members of the management team will retain a minority ownership interest in EEF. Encina Equipment will operate independently as a portfolio company of FBLC and FBCC.
In connection with this announcement, Mr. Matte said, “We are excited to embark on our company’s next stage of growth and look forward to collaborating with BSP to continue to provide critical equipment financing solutions to our clients. BSP’s credit expertise and cultural fit, combined with a permanent capital base, make it an ideal partner for EEF. The management team and I are also incredibly appreciative of the foundation and support we have received from our founding partners at Encina Capital Partners and funds managed by Oaktree Capital Management, L.P. to position our firm for this next phase.”
Richard Byrne, President of BSP and CEO of FBLC and FBCC, said, “EEF represents a compelling investment opportunity for our two BDCs. The Encina Equipment team has built a best-in-class equipment finance platform that is well positioned for continued growth. EEF complements our core private debt business and broadens the suite of financing solutions across our platform. We are excited to partner with Rick and the rest of the EEF team.”
Andrew Salter, Founder and CEO of Encina Capital Partners, commented, “I am grateful for the tremendous support that we’ve received from funds managed by Oaktree Capital Management, L.P. and our lender group as well as the significant contributions from my partners Willie Brasser, Ron Fontana and Jason Wolff, and I’m confident that EEF is well positioned for a highly successful next chapter with BSP.”
BofA Securities served as exclusive financial advisor to FBLC and FBCC. Wells Fargo Securities, LLC served as exclusive financial advisor to EEF. Skadden, Arps, Slate, Meagher & Flom LLP and Reed Smith LLP served as legal advisors to EEF. Hogan Lovells US LLP, Dechert LLP and Ropes & Gray LLP served as legal advisors to BSP.
About Encina Equipment Finance
Launched in June 2017, Encina Equipment Finance provides loans and leases ranging in size from $5 million to $50 million secured by essential-use machinery and equipment. The platform provides financing to both privately owned (sponsor and non-sponsor) and publicly traded companies across a wide range of collateral types and industries (including, but not limited to, construction, distribution, energy, food processing, health care, information technology, manufacturing, mining, paper & packaging, and transportation). To learn more, visit http://equipmentfinance.encinacapital.com/.
About Franklin BSP Lending Corporation
FBLC is a non-listed business development company with a $2.5 billion investment portfolio as of September 30, 2021. FBLC’s investment portfolio primarily consists of loans to middle-market companies. FBLC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. FBLC is managed by its investment adviser, Franklin BSP Lending Adviser, L.L.C., an affiliate of Benefit Street Partners L.L.C. For further information, please visit www.bdcofamerica.com. This press release is not an offer to sell any securities issued by FBLC and is not soliciting an offer to buy such securities.
About Franklin BSP Capital Corporation
FBCC is a non-listed business development company with $600 million of investor commitments as of September 30, 2021. FBCC’s investment portfolio primarily consists of loans to middle-market companies. FBCC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. FBCC is managed by its investment adviser, Franklin BSP Capital Adviser L.L.C., an affiliate of Benefit Street Partners L.L.C. This press release is not an offer to sell any securities issued by FBCC and is not soliciting an offer to buy such securities.
About Benefit Street Partners
Benefit Street Partners L.L.C. is a leading credit-focused alternative asset management firm with approximately $36 billion in assets under management as of November 30, 2021. BSP manages assets across a broad range of complementary credit strategies, including private/opportunistic debt, structured credit, high yield, special situations, long-short liquid credit and commercial real estate debt. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.benefitstreetpartners.com.
About Franklin Templeton
Franklin Resources, Inc. (NYSE:BEN) is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience over $1.5 trillion in assets under management as of November 30, 2021. For more information, please visit franklintempleton.com.
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The Best of 2021 in Film
As the year winds down and we look forward to 2022, it’s time to take stock of its most indelible cinematic achievements. So we offer a list, in alphabetical order, to help viewers catch up with the gems they may have missed and the discoveries that do the medium justice. Check out later issues for fuller coverage as titles become available for streaming.
Annette: French auteur Leos Carax brings his fantastic imagination to this outlandish blend of melodrama and musical. Made in collaboration with veteran pop band Sparks (who composed the songs), the plot charts the ups and downs in the relationship between Adam Driver’s avant-garde stand-up comic and Marion Cottilard’s opera star, doomed lovers whose mysterious daughter, Annette, becomes a success with audiences. Though its boldly surreal nature may prove alienating viewers, there’s no denying the passion that goes into every exhilarating frame.
Benedetta: Cinema’s reigning artist-pervert, Paul Verhoeven continues his twilight provocations with this ecstatically transgressive drama about the perilous junctions of religion, politics and eroticism. Unfolding in a Tuscany convent during the 17th-century, it follows the eponymous real-life Italian nun, who caused a stir with her mystical visions and was arrested for lesbianism. Combining luridness with inquisitive intelligence and devilish humor, the film is both libidinous and thoughtful—a vital examination of power, sex and faith, and of the eternal struggle between flesh and spirit.
The Card Counter: Paul Schrader’s forte arehaunting portrait of a righteous, deeply conflicted protagonist, and he’s in top form in this engrossing drama.Oscar Isaac is terrific as a casino-dweller with a talent for counting cards acquired during his years in a military prison. Leading a severe life of gambling dens and hotels, he finds hisself-control thrown off-kilter by reminders of a violent past. Slow-burning and deeply moral, Schrader’s late-period vision of redemption in a debased world continues to unsettleand thrill.
Cry Macho: Entering his fifth decade as a filmmaker, Clint Eastwood brings aching majesty to this shadowy, poignant character study. Asan aged Texas rodeo star who embarks on a journey to track down a friend’steenage son, he chronicles aninitially adversarial bond growingand deepeningwith mutual admiration. As unapologetically cranky and sentimental as its star, Eastwood’s autumnal examination of his own screen persona isan affecting, pepperytip of the hat from the cinema’scowboy.
Drive My Car: Japanese director Ryusuke Hamaguchi adapts Haruki Murakami’s short story, fashioning a breathtaking portrait of mysterious human connection. Chronicling the bond that grows between a widowed actor and his chauffeur, a 20-year-old woman, it keeps the audience as surprised as the characters about where their journey leads to. Hamaguchi’s touch is delicate and exacting, tackling shades of sorrow and grace until we’re faced with a quietly overwhelming humanistic epic. It’s a long ride, and worth every minute.
The Power of the Dog: Too long absent from movie screens, director Jane Campion scored a remarkable comeback with this rich, resonant take on the Western genre. Taking place in Montana during the 1920s, it scrutinizes masculinity in the open spaces as represented by a couple of contrasting siblings, as well as a wandering widow and her son. The suggestive dynamics between the characters are expressed by Campion’s sensuous compositions, and by the precise performances of a cast that includes Benedict Cumberbatch and Kirsten Dunst. A work of tender, harrowing poetry.
Siberia: Passionate (and controversial) director Abel Ferrara offers some of his most challenging work yet with this offbeat psychological thriller. Willem Dafoe stars as an American expatriate who, eager to start a new life, runs a bar in the frozen, desolate expanses of Siberia. Structured less asa narrative as a string of emotional visions minglingmemories anddreams, the film is strongly reminiscentof Russian master Andrei Tarkovsky’s similarly obscure “Mirror.” A beautiful example of thegritty filmmaker’s penchant for the ethereal and the surreal.
Summer of Soul: As historically important a pop event as Woodstock, 1969’s Harlem Cultural Festival isvibrantly explored in this revelatory documentary. Thefootage of remarkable performances by Stevie Wonder, BB King, Nina Simone, Mahalia Jackson and others is used bydirector Ahmir Thompson to investigate thecultural and political relevance of the event. Making use of interviews with musicians and attendees, the filmoffers an illuminating snapshot of Black power, pride, and conscience at a crossroads in American history.
The Velvet Underground: The premier sound of the Sixties, the story of the Velvet Underground makes for a fascinating musical tour of the decade, and Todd Haynes does it justice in this exceptional documentary. A filmmakerendlessly fascinated by the myths and cultural intimations of pop music, Haynespeels back the layers of the band’s mystique for its subversive essence. Making judicious use of interviews and performance footage, the movie is a poem on the Velvet Underground’s rebellious art.
West Side Story: A rare remake that outclasses the original, Steven Spielberg’s new version of the famous musical is one of the year’s most exhilarating cinematic spectacles. The story remains the same, a transposition of “Romeo and Juliet” to Manhattan’s Upper West Side, where young delinquent gangs clash with lyrics and switchblades and star-crossed lovers struggle for their romance to transcend violence. What makes it endlessly fresh is Spielberg’s camera, which has rarely been more expressive, kinetic, or passionate, masterfully making this American fable sing anew.
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German Shepherd
Martinez, California Adopt-a-Dog
Macho
ID #A0895387
Male
6 years old
Tricolor
Neutered
Shelter Staff made the following comments about this animal:
Meet Magnificent Macho! He's a beautiful 6-year-old boy who is intelligent and knows "sit"! He's easy to take on walks and is the full package all ready to go. He's waiting for you to make him your bundle of joy today! He can't wait to get to know you!
I am available for adoption! Want to know more about me? Call 925-608-8400 for more information about my medical and behavior history, or submit a Dog Adoption Application and somebody will call you soon to discuss my needs and next steps. You may also visit the shelter to adopt in-person.
Contra Costa County Animal Services Department
4800 Imhoff Pl
Martinez, CA 94553
(925) 608-8400
https://www.contracosta.ca.gov/2424/Available-Animals
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This Day in History
1782 - The first commercial bank in the US, the Bank of North America, was opened at Philadelphia, PA. The bank was the brainchild of Robert Morris. Despite the bank's success, Philadelphia's run as America's leading home of private financial institutions was short-lived. Soon after the Bank of North America opened, the Pennsylvania legislature moved to outlaw private banks in the state, a decision that led scores of prospective bankers to set up shop in the nation's eventual financial center, New York City.
1784 - David Landreth established the first organized seed business in Philadelphia, PA. Previously, seeds had been imported from Europe or saved from each crop by individual farmers. The firm incorporated in 1904 as the D. Landreth Seed Company, later became a subsidiary of the Robert Buist Company, founded in Philadelphia in 1828.
1789 - The first national presidential election in the United States was held.
George Washington, Virginia: 69 (85.2%)
John Adams, Massachusetts: 34 (42.0%)
John Jay, New York: 9 (11.1%)
Robert Harrison, Maryland: 6 (7.4%)
John Rutledge, South Carolina: 6 (7.4%)
Other: 14 (17.3%)
Electoral votes not cast: 24 (29.6%)
Note that prior to the ratification of Amendment XII to the Constitution in 1804, each Elector cast two votes for President (instead of one vote for President and one vote for Vice President). The candidate receiving the most votes became President and the candidate receiving the second most votes became Vice President. George Washington received one vote from each elector that cast a ballot. The New York legislature failed to appoint its allotted 8 Electors in time. Two Electors from Maryland did not vote. One Elector from Virginia did not vote and one Elector was not chosen because an election district failed to submit returns.
1799 – Birthday of Jedidiah Smith (d. 1831), Jericho, NY. One of the first explorers of the American west, he helped develop the Oregon Trail. He was the first to reach California by land and the first to travel by land to the Canadian border from San Diego. He was killed by Comanches on the Santa Fe Trail in Kansas.
1800 - Millard Fillmore (d. 1874) was born at Summerhill, NY. 13th President of the US (July 10, 1850—Mar 3, 1853). Fillmore succeeded to the presidency upon the death of Zachary Taylor, but he did not get the hoped-for nomination from his party in 1852. He ran for president in 1856 as candidate of the “Know-Nothing Party,” whose platform demanded, among other things, that every government employee (federal, state and local) should be a native-born citizen. Now his birthday is often used as an occasion for parties for which there is no other reason.
1811 – Charles Sumner (d. 1874) was born in Boston, for whom the Sumner Tunnel is named. As a lawyer and a powerful orator, Sumner was the leader of the antislavery forces in Massachusetts and a leader of the Radical Republicans in the United States Senate during the Civil War, working to destroy the Confederacy, free all the slaves, and keep on good terms with Europe. During Reconstruction, he fought to minimize the power of the ex-Confederates and guarantee equal rights to the freedmen. Sumner changed his political party several times as anti-slavery coalitions rose and fell in the 1830s and 1840s before coalescing in the 1850s as the Republican Party, the affiliation with which he became best known. He devoted his enormous energies to the destruction of the influence of Southern slave owners over the federal government, thereby ensuring the survival and expansion of slavery. In 1856, a South Carolina Congressman, Democrat Preston Brooks, nearly killed Sumner on the Senate floor two days after Sumner delivered an intensely anti-slavery speech called "The Crime Against Kansas." In the speech, Sumner characterized the attacker's cousin, South Carolina Senator Andrew Butler, a Democrat, as a pimp for slavery. The episode played a major role in the coming of the Civil War. During the War, Sumner was a leader of the faction that criticized President Abraham Lincoln for being too moderate on the South. One of the most learned statesmen of the era, he specialized in foreign affairs, and worked closely with Lincoln to keep the British and the French from intervening on the side of the Confederacy during the Civil War. Sumner's expertise and energy made him a powerful chairman of the Senate Committee on Foreign Relations.
1830 - The first passengers boarded the first commercial transportation of passengers and freight, on the Baltimore and Ohio Railroad Company. Tickets were 9 cents each, or three for 25 cents, for a ride from Pratt Street in Baltimore to the Carrolton Viaduct. At first, passengers rode primarily for the novel experience.
1838 – Alfred Vail demonstrated a telegraph system using dots and dashes (this is the forerunner of Morse code). After having secured his father's financial backing, Vail refined Morse's crude prototype to make it suitable for public demonstration and commercial operation. The first successful completion of a transmission with this system was at the Speedwell Iron Works near Morristown, NJ, across two miles of wiring. The message read "A patient waiter is no loser.” Over the next few months, Morse and Vail demonstrated the telegraph to Philadelphia's Franklin Institute, members of Congress, and President Martin Van Buren and his cabinet.
1853 – President-elect Franklin Pierce and his family were involved in a train wreck near Andover, MA. Pierce's 11-year-old son Benjamin is killed in the crash.
1861 - Florida troops takeover Fort Marion at St Augustine. The Confederates take over many forts until Union Troops invade Florida, taking back some of the forts, securing ports, to cut off trade with European nations. http://www.nps.gov/casa/
1862 - An advance guard of Confederates was defeated by about 2,000 Federals under Col. Dunning at Blue's Gap in Romney, West Virginia.
http://www.historichampshire.org/rom-cw.htm
http://members.aol.com/DWMellott/7wv.htm
http://www.romneywv.com/
http://www.amazon.com/exec/obidos/ASIN/096282187X/
inktomi-bkasin-20/104-3547695-1517507
1864 - Mary Kenney O'Sullivan (d. 1943), first American Federation of Labor (AFL) woman organizer, was born in Hannibal, Missouri. A skilled bookbinder, she organized the Woman's Bookbinder Union in 1880 and was a founder of the National Women's Trade Union League (WTUL) in 1903.
http://womenshistory.about.com/library/bio/
blbio_osullivan_mary_kenney.htm
http://www.spartacus.schoolnet.co.uk/USAWkenney.htm
1865 - Near present-day San Angelo, 370 Texas militiamen attacked what was assumed to be an encampment of 1400 Comanche's (they were actually peaceful Kickapoo). This engagement, called the Battle of Dove Creek, was one of the last battles in Texas between Anglos and Native Americans. The militia lost 36 men, with 60 wounded; the Indians lost 11, with 61 wounded.
http://www.tsha.utexas.edu/handbook/online/articles/view/DD/btd1.html
1873 - A blizzard raged across the Great Plains. Many pioneers, unprepared for the cold and snow, perished in southwest Minnesota and northwestern Iowa.
1878 – Carl Sandberg (d. 1978) was born Galesburg, IL. Poet, writer, and editor, he won three Pulitzer Prizes, two for his poetry and one for his biography of Abraham Lincoln. During his lifetime, Sandburg was widely regarded as "a major figure in contemporary literature", especially for volumes of his collected verse, including “Chicago Poems” (1916), “Cornhuskers” (1918), and “Smoke and Steel” (1920). He enjoyed "unrivaled appeal as a poet in his day, perhaps because the breadth of his experiences connected him with so many strands of American life", and at his death in 1967, President Lyndon Johnson observed that "Carl Sandburg was more than the voice of America, more than the poet of its strength and genius. He was America.”
1880 – Tom Mix (d. 1940) was born in Mix Run, PA. Actor and the star of many early western movies between 1909 and 1935, Mix appeared in 291 films, all but nine of which were silent movies. He was Hollywood's first Western megastar and is noted as having helped define the genre for all cowboy actors who followed.
1884 - The temperature dipped to one degree below zero at Atlanta, GA. It marked the final day of a severe arctic outbreak in the South and Midwest.
1886 - A severe cold wave in the southern section of the country brought the worst freeze since 1835 in Florida.
1887 - In April, 1884, Thomas Stevens started what would be the first completed worldwide bicycle trip. Stevens and his bike traveled 13,500 miles, arriving back in San Francisco, California nearly three years later.
1893 – The Washington National Cathedral was chartered by Congress.
1894 – W.K. L. Dickson was given a patent for motion picture film. The 2- second demonstration was a 47-frame film showing a man sneezing.
http://www.biographcompany.com/dickson/
1896 - Fannie Farmer publishes her first cookbook
http://womenshistory.about.com/library/bio/blbiofarmerf.htm
1901 - Birthday of writer Zora Neale Hurston (d. 1960), born Eatonville, Fla., an all-black town. Although at the time of her death, Hurston had published more books than any other black woman in America, she was unable to capture a mainstream audience in her lifetime, and she died poor and alone in a welfare hotel. Today, she is seen as one of the most important black writers in American history. Unfortunately, near the end of her life she worked as a maid and died in poverty. In the 1970s, her work, almost forgotten, was revived by feminist and black-studies scholars, and an anthology, “I Love Myself When I Am Laughing...And Then Again When I Am Looking Mean and Impressive,” was published in 1979.
http://www.csustan.edu/english/reuben/pal/chap9/hurston.html
http://www.hurston-wright.org/
1912 – New Mexico became the nation’s 47th state.
1912 – Danny Thomas (d. 1991) was born in Deerfield, MI. A nightclub comedian and television and film actor and producer, whose career spanned five decades, Thomas was best known for starring in the television sitcom “Make Room for Daddy” (also known as “The Danny Thomas Show”) that ran from 1953-1965. He was also the founder of St. Jude Children’s Research Hospital. He was the father of Marlo Thomas.
1913 - Tucson, AZ set its all-time record low temperature with a frigid 0 degrees.
1913 - William M. Burton of Chicago, IL, received a patent for the “manufacture of gasoline.” He developed the thermal-cracking technique for refining oil. His method of treating the residue of the paraffin group of petroleum by distillation and condensation of the vapors was used by the Standard Oil Company of Indiana, to whom the patent was assigned.
http://www.invent.org/hall_of_fame/24.html
1914 - The National Commission granted some demands of the Players’ Union: players are to be notified in writing of their transfer or release and to receive a copy of their contract; players with 10 years in the Major Leagues are eligible to become free agents; clubs will pay traveling expenses to spring training and furnish all uniforms, and outfield fences in ballparks should be painted green to provide a better hitting background for batters.
1924 - George Gershwin completed the score for his classic, “Rhapsody in Blue.” He was only 26 years old. Gershwin did not have an interest in music until his family bought him a piano when he was twelve. Nine years later he had his first hit, at age 21, "Swanee," with lyrics written by Irving Caesar.
1926 - George Burns and Gracie Allen were married by a Justice of the Peace in Cleveland, Ohio. They had been a comedy team for 4 years prior to getting married and worked successfully for decades together in radio, film, and television until Allen's fatal heart attack in 1964.
1926 – Ralph Branca (d. 2016), the Dodger pitcher who surrendered the “Shot Heard ‘Round the World,” was born in Mt. Vernon, NY. In game 3 of the best of three 1951 NL Championship playoffs against the rival NY Giants, Branca relieved starter Don Newcombe in the bottom of the ninth with two on to protect a 4-2 Dodger lead that would have sent them to the World Series. On a 0-1 pitch, Bobby Thomson homered over the left field wall at the Polo Grounds, giving the Giants the pennant. Giants’ announcer Russ Hodges’ call: “There’s a long drive... it's gonna be, I believe...THE GIANTS WIN THE PENNANT!! THE GIANTS WIN THE PENNANT! THE GIANTS WIN THE PENNANT! THE GIANTS WIN THE PENNANT! Bobby Thomson hits into the lower deck of the left-field stands! The Giants win the pennant and they're goin' crazy, they're goin' crazy! HEEEY-OH!!!'' [ten-second pause for crowd noise] I don't believe it! I don't believe it! I do not believe it! Bobby Thomson... hit a line drive... into the lower deck... of the left-field stands... and this blame place is goin' crazy! The Giants! Horace Stoneham has got a winner! The Giants won it... by a score of 5 to 4... and they're pickin' Bobby Thomson up... and carryin' him off the field!” Once a mainstay of the Dodgers’ staff, Branca’s career never recovered.
1927 - The inauguration of the transatlantic commercial telephone service began when Walter Sherman Gifford, president of the American Telephone and Telegraph Company, who was in New York, talked to Sir George Evelyn Pemberton Murray, secretary of the British Post Office, who was in London. Thirty-one commercial calls were made the first day. The charge was $75 for a three-minute conversation. The first private conversation was made by Adolph Simon Ochs, publisher of The New York Times, to Geoffrey Dawson, editor of The Times of London. The messages were transmitted from Rocky Point, NY.
1927 - Harlem Globetrotters, basketball team, make their debut. http://www.africana.com/Articles/tt_059.htm
http://www.harlemglobetrotters.com/
1930 - The first diesel-engine automobile trip is completed, from Indianapolis to NYC.
1931 - The nation was mired in the depths of the Great Depression. On January 7, the Committee for Unemployment Relief, formed at President Hoover's command, in October 1930, released a report that detailed the depths of the nation's woes. According to the committee, some 4 to 5 million Americans were unemployed. However, the Depression only continued to grow worse, which further swelled the unemployment rolls; by 1932, some 13 million Americans were without jobs.
1933 – Fred Turner (d. 2013) was born in Des Moines, IA. Turner began his career at McDonald's in 1956 as a grill operator, and quickly rose through the ranks. He was named Operations Vice President in 1958. In that role, he established strict guidelines for how McDonald's hamburgers and other products had to be served - including that fries "had to be precisely 0.28 inches thick," and that "exactly ten patties had to be formed from each pound of beef." "Quality, Service and Cleanliness" became his motto. He became Executive Vice President in 1967, then President and Chief Administrative Officer in 1968. He replaced Ray Kroc as Chairman in 1977, then was named Senior Chairman upon Kroc's death. Under Turner, McDonald's expanded its operations to 118 countries, with over 31,000 outlets, and more than a billion hamburgers had been sold.
1934 - Converted Major League baseball player Billy Sunday, at age 72, began a two-week revival at Calvary Baptist Church in NY City. Sunday was an evangelist from 1893 until his death in 1935.
1935 - Anarchist Feminist Emma Goldman talks to Jewish audiences at the Temple Emanu-El adult school, the second meeting arranged by Rabbi Harry Stern, and the women's branch of the Arbeiter Ring on Jan. 12. Both are well received.
1937 – Doris Troy (d. 2004) was born Doris Elaine Higginsen in The Bronx. Known to her many fans as "Mama Soul,” she worked with Solomon Burke, The Drifters, Cissy Houston, and Dionne Warwick, before she co-wrote and recorded "Just One Look,” which hit #10 in 1963
1939 - The United States Trotting Association, the governing body for the sport of harness horse racing, was founded in Indianapolis, IN, at a meeting called by horseman Roland Harriman. The founding was actually a joining of several regional organizations resulting in uniform rules and regulations. This unification spurred the growth of harness racing, now followed by nearly 25 million fans in North America each year.
1939 - Tom Mooney, a labor activist wrongly convicted of murder in the San Francisco Preparedness Day bombing in July 1916, is freed after 22 1/2 years in jail on false charges, after being granted an unconditional pardon by Governor Culbert Olson. See: “Frame-up” by Curt Gentry, © 1967, WW Norton, New York; “Life of an Anarchist: The Alexander Berkman Reader,” ed. Gene Fellner, “Four Walls Eight Windows,” New York: 1992.
http://www.dartmouth.edu/~library/Library_Bulletin/
Nov1989/LB-N89-VClose2.html
1940 - Gene Autry's musical variety show premieres on CBS radio, where it will run for the next 16 years. Autry was born in Tioga, Texas, in 1907, the son of a livestock and horse trader who was also a Baptist minister. The family later moved to Oklahoma. In high school, Autry worked as a railway telegrapher at the local railroad depot, where he spent slow moments strumming his $8 guitar and singing. Passing through the depot one day, a stranger, who turned out to be Will Rogers, suggested that Autry try singing on the radio. Inspired, Autry traveled to New York City to look for a singing job but had no luck. Back home, he began working for a local radio station and found success as "Oklahoma's Yodeling Cowboy.” Eventually, Autry and railroad dispatcher Jim Long wrote several country songs, including the world's first gold record, "That Silver-Haired Daddy of Mine.” Autry became a regular on Sears Roebuck's “National Barn Dance,” the forerunner of the Grand Ole Opry. In 1934, producer Nat Levine was looking for a guy who could sing, ride a horse, and act in western movies. Autry wasn't an actor but had already established a loyal radio audience, so Levine put him in numerous B-grade westerns. Playing the lead role in a long-running series of Saturday matinee films, Autry became "America's favorite cowboy." In 1940, his musical variety radio show, “Gene Autry's Melody Ranch,” debuted and took only one hiatus, when Autry joined the Army Air Corps after taking his oath on the air in 1942. Roy Rogers took his place on the television show while he was gone. He became America's favorite TV cowboy in 1950 when he debuted “The Gene Autry Show,” which ran through 1956. In each episode, he and his sidekick, Pat Buttram, rode from town to town, maintaining law and order. From "Back in the Saddle Again" to yuletide mainstays such as "Rudolph the Red-nosed Reindeer" and "Frosty the Snowman," Autry's music has etched itself into Americana. “The Cowboy” was also an entrepreneur; he owned hotels, gas stations, and the California Angels baseball team, among other ventures. He also owned a television production company and was proud of discovering "Annie Oakley" star Gail Davis, whom he had featured in dozens of his movies and television program episodes and who had performed in his traveling rodeo. Her appearances spun off into her own series, which Autry's company produced. Autry was inducted into the Country Music Hall of Fame in 1969.
1941 – President Franklin Roosevelt delivered his “Four Freedoms” speech (freedom of speech and worship; freedom from want and fear) during his State of the Union address to the nation.
1942 – Cleveland Indians pitcher Bob Feller reported to Norfolk for duty in the United States Navy. Feller led the AL in wins in three previous seasons and missed all of the 1942, 1943 and 1944 seasons before returning for nine games in 1945. Despite missing the time during World War II, Feller will lead the league in wins in 1946, 1947 and 1951, amassing 266 victories during an 18-year Major League career.
1942 - Pan American World Airways became the first commercial airline to schedule a flight around the world ("Pacific Clipper").
1944 - SPECKER, JOE C., Medal of Honor
Rank and organization: Sergeant, U.S. Army, 48th Engineer Combat Battalion. Place and date: At Mount Porchia, Italy, 7 January 1944. Entered service at: Odessa, Mo. Birth: Odessa, Mo. G.O. No. 56, 12 July 1944. Citation: For conspicuous gallantry and intrepidity at risk of life, above and beyond the call of duty, in action involving actual conflict. On the night of 7 January 1944, Sgt. Specker, with his company, was advancing up the slope of Mount Porchia, Italy. He was sent forward on reconnaissance and on his return, he reported to his company commander the fact that there was an enemy machinegun nest and several well-placed snipers directly in the path and awaiting the company. Sgt. Specker requested and was granted permission to place 1 of his machineguns in a position near the enemy machinegun. Voluntarily and alone he made his way up the mountain with a machinegun and a box of ammunition. He was observed by the enemy as he walked along and was severely wounded by the deadly fire directed at him. Though so seriously wounded that he was unable to walk, he continued to drag himself over the jagged edges of rock and rough terrain until he reached the position at which he desired to set up his machinegun. He set up the gun so well and fired so accurately that the enemy machine-gun nest was silenced and the remainder of the snipers forced to retire, enabling his platoon to obtain their objective. Sgt. Specker was found dead at his gun. His personal bravery, self-sacrifice, and determination were an inspiration to his officers and fellow soldiers.
1945 - Anthony Richard (Tony) Conigliaro (d. 1990), Baseball player born at Revere, MA. Conigliaro led the American League in home runs in 1965 and was one of the most beloved Boston Red Sox players of his generation. He was beaned by Jack Hamilton on August 18, 1967, and after missing all of 1968, made a comeback.
1945 - SHOUP, CURTIS F, Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Company I, 346th Infantry, 87th Infantry Division. Place and date: Near Tillet, Belgium, 7 January 1945. Entered service at: Buffalo, N.Y. Birth: Napenoch, N.Y. G.0. No.: 60, 25 July 1945. Citation: On 7 January 1945, near Tillet, Belgium, his company attacked German troops on rising ground. Intense hostile machinegun fire pinned down and threatened to annihilate the American unit in an exposed position where frozen ground made it impossible to dig in for protection. Heavy mortar and artillery fire from enemy batteries was added to the storm of destruction falling on the Americans. Realizing that the machinegun must be silenced at all costs, S/Sgt. Shoup, armed with an automatic rifle, crawled to within 75 yards of the enemy emplacement. He found that his fire was ineffective from this position, and completely disregarding his own safety, stood up and grimly strode ahead into the murderous stream of bullets, firing his low-held weapon as he went. He was hit several times and finally was knocked to the ground. But he struggled to his feet and staggered forward until close enough to hurl a grenade, wiping out the enemy machinegun nest with his dying action. By his heroism, fearless determination, and supreme sacrifice, S/Sgt. Shoup eliminated a hostile weapon which threatened to destroy his company and turned a desperate situation into victory.
1947 - Rolling Stone publisher Jann Wenner birthday, born NY, NY.
http://207.171.166.140/name/nm0921048/bio
http://207.171.166.140/name/nm0921048/
1947 – Pan American World Airways becomes the first commercial airline to schedule a flight around the world.
1948 - Birthday of singer Kenny Loggins, Everett, Washington. He wrote the "House at Pooh Corner”, a hit for the Nitty Gritty Dirt Band, before teaming with Jim Messina for several albums and the top-10 single "Your Mama Don't Dance" in the 1970's. The duo split in 1976, and Loggins did well on his own with such hit singles as "Footloose," the theme from the 1984 movie, and "Danger Zone" in 1986.
1949 - Gene Autry's "Rudolph, the Red-Nosed Reindeer" hits #1. The song was first introduced live on New York Radio (WOR) by crooner Harry Brannon in November 1949. Autry recorded the song on June 27, 1949; by November, Columbia began pushing the record to the pop music market. It hit No. 1 in the US charts during Christmas 1949. Autry’s and many cover versions have sold/downloaded the second-most in history to Bing Crosby’s “White Christmas.”
1950 - Nova Scotia native Hank Snow made his debut on the Grand Ole Opry. Later that year, his recording of "I'm Movin' On" stayed on the Billboard country chart for 44 weeks, selling more than a million copies.
1950 - In Nashville, Tennessee, Ernest Tubb made his first appearance at "The Grand Ole Opry.” Ernest also did a daily 15-minute radio program that was very popular in West Texas. In fact, the show was so popular, Tubb bought the radio station that aired the program for years, KGKL in San Angelo, Texas.
1951 - Top Hits
“Tennessee Waltz” - Patti Page
“The Thing” - Phil Harris
“Nevertheless” - Jack Denny
“I Love You a Thousand Ways” - Lefty Frizzell
1952 - Actor Phillip Loeb, blacklisted in 1950 as a possible Communist sympathizer, is fired from highly successful TV comedy "The Goldbergs" because no one would sponsor it otherwise.
http://www.pbs.org/newshour/bb/entertainment/july-dec97/
blacklist_10-24.html
http://www.tvparty.com/vaultgold.html
http://www.woolmancentral.com/famcou.html
http://www.sag.com/blacklist.html
1953 - Birthday of Malcolm Young (d. 2017), rhythm guitarist with AC/DC, Glasgow, Scotland.
1954 - The Duoscopic television receiver debuted. It allowed the viewer to watch two different shows at the same time. It was a very early, very primitive, picture-in-picture, split-screen, tested in New York City and Chicago, Illinois. DuMont Laboratories, owner of the DuMont Television Network produced the set.
1954 - Muddy Waters records "Hoochie Coochie Man"
1955 – At the Metropolitan Opera House, New York City, Marian Anderson, contralto, became the first African-American opera singer there when she sang the role of the fortune teller Ulrica in Giuseepe Verdi's “Un Ballo in Maschera.”
(Lower half of: http://memory.loc.gov/ammem/today/jan07.html )
1956 - Dean Martin's "Memories Are Made of This" hits #1
1957 – Women’s golf champion Nancy Lopez was born in Torrance, CA.
1957 - Elvis Presley makes his third, final, and most famous appearance on CBS' “Ed Sullivan Show.” After numerous "Elvis the Pelvis" complaints during his first two appearances, Sullivan decides that Presley is to be filmed from the waist up only. Elvis sings seven numbers: "Hound Dog," "Don't Be Cruel," "Love Me Tender," "Heartbreak Hotel," "Peace in the Valley" (at the request of the network), "Too Much," and "When My Blue Moon Turns to Gold Again." After the performances, Ed Sullivan attempts to fend off controversy yet again by declaring: "I just wanted to say that this is a real decent, fine boy. We want to say that we've never had a pleasanter experience with a big name than we've had with you."
1958 - The Gibson Guitar Company patented the Flying V guitar, favorite instrument of many rock musicians
1958 - Danny and the Juniors' Rock 'n' Roll classic, "At the Hop," was the number one song in the US. Originally written as "Do the Bop," American Bandstand host Dick Clark advised the group to re-write the lyrics because the dance known as The Bop was on its way out. Clark was right and the Philadelphia quartet's record stayed in the top spot for a month.
1959 - Top Hits
“The Chipmunk Song” - The Chipmunks
“Smoke Gets in Your Eyes” - The Platters
“Problems” - The Everly Brothers
“City Lights” - Ray Price
1959 - "GE College Bowl" quiz show premieres on NBC TV
http://www.jumptheshark.com/c/collegebowl.htm http://www.classicthemes.com/50sTVThemes/themePages/collegeBowl2.html
1960 – National Airlines Flight 2511 was destroyed in mid-air by a bomb, while en route from New York City to Miami. Twenty-nine passengers and five crew perished. The Civil Aeronautics Board concluded that Flight 2511 was brought down by a dynamite explosion in the passenger cabin.
1960 – NFL Hall of Famer and Super Bowl XVIII champion Howie Long was born in Charlestown, MA. He was the Oakland Raiders second round pick in the 1981 draft and went on to 8 Pro Bowls and was named to the NFL’s All-1980s team. He is currently an analyst on Fox Sports Sunday.
1962 - The Western Division defeats the Eastern Division 47-27 in the first AFL All-Star Game played before 20,973 in San Diego.
http://images.nfl.com/history/images/0107.jpg
1962 - Chubby Checker's "The Twist" hits #1 -- again
1967 - Top Hits
“I'm a Believer” - The Monkees
“Snoopy Vs. the Red Baron” - The Royal Guardsmen
“Tell It Like It Is” - Aaron Neville
“There Goes My Everything” - Jack Greene
1967 - The Doors, Sopwith Camel, The Young Rascals play at the Fillmore Auditorium in San Francisco. This was the first time the L.A. band "The Doors" played at the Fillmore.
1968 - Postage rates in the United States went up by a penny, making the cost to send an ounce of mail six cents.
1971 - The temperature at Hawley Lake, AZ dipped to 40 degrees below zero, setting a new record low temperature for the state.
1972 - The Los Angeles Lakers defeated the Atlanta Hawks, 134-90, to win their 33rd game in a row, an NBA record.
1972 - The NCAA announced that freshmen would be eligible to play varsity football and basketball starting in the fall of 1973.
1973 - Carly Simon's "You're So Vain" leads the US hit parade, stirring speculation about exactly who she was singing about. Although suggestions run from actor Warren Beatty to Mick Jagger to James Taylor to Kris Kristofferson, Simon has steadfastly refused to divulge her secret. Finally, in November 2015, Simon, promoting her about-to-be-published memoir, said, "I have confirmed that the second verse is Warren," and added that while "Warren thinks the whole thing is about him," he is the subject only of that verse, with the remainder of the song referring to two other, still-unnamed men. You’ll have to read the book to find out that Beatty was indeed not the only one.”
1973 - The first vote for a woman in the history of the U.S. Electoral College is cast for Theodora Nathan of Oregon, the vice-presidential candidate for the Libertarian party.
1974 - In response to the 1973 oil crisis, daylight savings time commences nearly four months early in the United States.
1975 - Boston Mayor Kevin White cancels Led Zeppelin's upcoming show at Boston Garden when approximately a thousand Zep fans riot while waiting for tickets to go on sale. Total damage to the facility: $30,000.
1975 - Top Hits
“Lucy in the Sky with Diamonds” - Elton John
“You're the First, the Last, My Everything” - Barry White
“Kung Fu Fighting” - Carl Douglas
“The Door” - George Jones
1978 - The soundtrack album of the hit disco movie "Saturday Night Fever," featuring the Bee Gees, the Trammps, Tavares, K.C. & the Sunshine Band, Kool & the Gang, MFSB and others enter the soul album chart. It will peak at Number One for six weeks starting February 18 in its 39 weeks on the chart.
1978 - The Bar-Kays' "Let's Have Some Fun" enters the soul charts
1979 - Vietnamese forces, aided by Cambodian insurgents, captured Phnom Penh after a two-week invasion and overthrew the Khmer Rouge regime of Pol Pot.
1979 - In the AFC title game, the Pittsburgh Steelers beat the Houston Oilers 34-5 for a Super Bowl trip and their third AFC championship title. They played in a steady rain at Three Rivers Stadium. In the NFC championship game, the Dallas Cowboys shut out the Los Angeles Rams 28-0. The Steelers beat the Cowboys 35-31 in Super Bowl XIII Jan 21.
1980 - Led Zeppelin's "In Through the Out Door" is awarded a platinum disc. It's the last album issued before the September 25th death of drummer John Bonham.
1981 - The "Eagles Live" album goes platinum. The two-record set will turn out to be the final Eagles album until 1994's comeback LP, "Hell Freezes Over".
1982 - The Islanders' Bryan Trottier had his 10th career hat trick.
1982 - "Hooked on Classics," using the extended medley format made popular by "Stars on 45," sets popular classical music to a disco beat. The result: It goes platinum on this date.
1983 - Top Hits
“Maneater” - Daryl Hall & John Oates
“The Girl is Mine” - Michael Jackson /Paul McCartney
“Dirty Laundry” - Don Henley
“Wild and Blue” - John Anderson
1984 - The Seattle Seahawks reached the AFC Title game for the first time in their history but were defeated by the Los Angeles Raiders, 30-14.
1988 - It was a bad day for chickens. Heavy snow in Arkansas, with totals ranging up to 16 inches at Heber Springs, claimed the lives of 3.5 million chickens, and snow and ice up to three inches thick claimed the lives of another 1.75 million chickens in north central Texas. Up to 18 inches of snow blanketed Oklahoma, with Oklahoma City reporting a record 12 inches of snow in 24 hours.
1989 - A tornado in southern Illinois obliterated half the community of Allendale, injuring fifty persons and causing more than five million dollars damage, while thunderstorm winds gusting higher than 100 mph caused ten million dollars damage at Franklin, KY. Twenty-five cities, from the Gulf coast to Michigan, reported record high temperatures for the date.
1990 - Rain and gale force winds prevailed along the Northern Pacific Coast. Winds at Astoria, OR gusted to 65 mph. Unseasonably warm weather prevailed over Florida. Five cities reported record high temperatures for the date, including Miami with a reading of 86 degrees. The hot spot in the nation was West Palm Beach with a high of 87 degrees.
1990 - A rapidly intensifying low-pressure system and a vigorous cold front brought heavy rain and high winds to the Pacific Northwest. Two to five inch rains soaked western Washington and western Oregon, and winds gusting above 70 mph caused extensive damage. Wind gusts on Rattlesnake Ridge in Washington State reached 130 mph
1991 - Top Hits
“Justify My Love” - Madonna
“High Enough” - Damn Yankees
“Love Will Never Do (Without You)” - Janet Jackson
“I've Come to Expect It From You” - George Strait
1992 - A rare January thunderstorm rumbled over Sioux Falls, SD. This was the first January thunderstorm recorded in the city since 1939. Meanwhile, thunderstorms produced 6 tornadoes (one F2 and five F1) near Grand Island, NE -- the first tornadoes ever recorded in Nebraska during January.
1993 - Michael Jordan scored 35 points to lead the Chicago Bulls to a 130-95 win over the Milwaukee Bucks. The points gave Jordan exactly 20,000 in the 620th game of his career and made him the second fastest NBA player to reach the mark behind Wilt chamberlain, who did it in 499 games.
1994 – Nancy Kerrigan was clubbed on the knee at the US Figure Skating Championships in Detroit. The attack was planned by Jeff Gillooly, the ex-husband of fellow American figure skater, Tonya Harding, and his co-conspirator Shawn Eckardt. They hired Stant, and his uncle Derrick Smith, to carry out the attack. Gillooly and Eckardt both claimed that Harding was involved in the attack and had knowledge of it beforehand. Harding initially denied all knowledge of the attack but soon accepted a plea agreement admitting to helping cover up the attack after the fact. Later, both a grand jury and a disciplinary panel from the US Figure Skating Assn would find further evidence of her involvement during the planning and execution phases. The attack was intended to prevent Kerrigan from taking part in the ongoing 1994 US Figure Skating Championships and the forthcoming Winter Olympics, thus increasing the prospects of Harding in both figure skating events. Kerrigan could not compete in the US Championship but recovered in time to compete in the Winter Olympics. Both women competed in the 1994 Olympics, and Harding was later banned for life from USFSA figure skating events.
1995 - A severe thunderstorm produced a downburst wind gust to 146 mph at Seymour-Johnson AFB in Goldsboro, NC.
1996 - A blizzard paralyzed the Eastern U.S. The storm moved slowly, taking five days to reach New England from the Gulf of Mexico. The National Weather Service called it a storm of “historic proportions” with more than two feet of snow in the Baltimore and Washington, DC area. The mountains of Virginia and West Virginia got up to three feet. More than 100 deaths were blamed on the storm -- the majority from heart attacks. This event was the second in an unrelenting, paralyzing "siege of snowstorms" along the east coast during a ten-day period.
1997 - In Los Angeles, California, Heidi Fleiss, known as the "Hollywood Madam", was sentenced to 37 months in prison for cheating on her taxes, laundering call-girl profits, and conspiring to hide her wrongdoing. According to news sources, Fleiss choked back tears, saying, "I'm sorry. I'm a different person now."
1997 – LA Dodgers owner Peter O’Malley, son of the man who brought the team to LA from Brooklyn, announced that he is putting the team up for sale. In 1998, he sold the team to Fox Broadcasting.
2001 - After a five-week long debate regarding Florida voting ballots, George W. Bush was finally declared official winner of the Presidential election. This was one of the closest presidential election races in U.S. history.
2012 - Salesforce.com signed an 18-year, 400,000-square-foot lease at 50 Fremont St. in San Francisco for nearly $340 million. The software company was founded by Marc Benioff in a Telegraph Hill apartment in 1999.
2014 – Dr. Janet Yellen became the first women to head the Federal Reserve Bank.
2015 - Randy Johnson, Pedro Martínez, John Smoltz and Craig Biggio are inducted into the Baseball Hall of Fame.
2021 – Supporters of President Trump, challenging the presidential election results that stopped his re-election, stormed the US Capital during the congressional certification of President Joe Biden and Vice President Kamala Harris victory. Five deaths and innumerable injuries resulted and lawmakers and Vice President Mike Pence were evacuated to safety. The investigations into this insurrection continue.
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