Leasing News

IFC Credit Corporation is seeking Account Executives ready to roll up their sleeves in establishing strategic financing alliances with select vendors and manufacturers in healthcare, industrial and technology marketplace segments. Proven track record of success in equipment financing a must. Specific industry and collateral experience a plus. Hiring now in major markets throughout the country. Email your resume to eokeeffe@ifccredit.com

Contract Administrator: Newton, MA,
Proficiency in docs, funding & customer service required, Broker exp a plus. Salary w/possible bonuses. Email resume to: markg@integrityleasing.com

About the Company: www.integrityleasing.com

In-house Sales: Scottsdale, AZ.
Proven producer.Salary.comm.bonus. Leads furnished. 5K to 150K avg Contact:john@odysseyequipfinance.com

Sales: Amerifund, a nat'l equip fin company growing at 100%+ per year, is looking for add'l exp'd Lsg Sls People in AZ. Compensation=Base salary+ commission +benefits.Ideal candidate=2+ yrs exp in lsg sls with doc'd performance. Fax resume:
480-607-0125.

Sales: Novato, CA
Aggressive, polished, ethical salesperson wanted to join our 19 year old company. 2+ yrs financial sales experience required. Must be based in Bay Area. Prefer candidates with established vendors. ted@warrencapital.com

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Wall Street Goes Up, but T-bill goes down

Desperate for any good news, the stock market went up 210 points yesterday, their best performance , reaching its highest close in nearly a year, 9,318.96, while Monday's US Treasury securities action dropped to their lowest level on record on

six-month bills.

The Treasury Department sold $18 billion in three- month bills at a discount rate of 0.840 percent, down from 1.005 percent last week. An additional $18 billion was sold in six-month bills at a rate of 0.845 percent, down from 0.980 percent.

The three-month rate was the lowest since June 30, 1958, when the bills sold for 0.768 percent. The six- month rate was the lowest since the government began selling these bills on a regular basis in 1958.

The new discount rates understate the actual return to investors 0.854 percent for three-month bills with a $10,000 bill selling for $9,978.80 and 0.862 percent for a six-month bill selling for $9,957.30.

In a separate report but related report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 0.97 percent last week from 1.08 percent the previous week.

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Cartoon----Rusty

http://two.leasingnews.org/cartoons/RUSTY-(5).jpg

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ABS CDOs look to snag top billing as summer blockbusters

ABSNet

As the mid-year point rapidly approaches, CDO professionals are not looking forward to the relaxed pace of a summertime market. After all, new issuance slowed early on this year. Market mavens are doing all they can to keep investors from singing the summertime blues and from sliding too deeply into secondary market activity.

Taking into account the current pipeline and recent new issues, it is clear firms are focused on selling structured product CDOs. The last three most recent U.S. market pricings were CDOs comprised mainly of asset-backed securities. Lubeck CDO Ltd., Callidus Debt Partners and Trapeza CDO LLC all issued ABS CDOs in June. Reportedly, CDO Repackaging Trust also issued an ABS CDO last week.

According to Deutsche Bank, of the $8 billion to $9 billion in the firm’s current U.S. CDO pipeline, roughly $5 billion is comprised of structured product CDOs.

Of the approximately $20 billion in year-to-date global volume, half has come from the structured product sector: CDOs backed by ABS, RMBS and CMBS. So while high yield loans have garnered the most attention this year, according to Deutsche Bank, U.S. market issuance for CDOs backed by high yield loans is $3.1 billion compared to $8.9 billion for CDOs backed by ABS, CMBS and MBS.

Ratings actions this year have shined a positive light on asset-backed CDOs. While total downgrades is approximately $33 billion, ABS CDOs account for just 5% of that figure.

According to sources, two of the newest additions to the U.S. CDO pipeline are deals stemming from structured products,Independence IV CDO Ltd. and Lennar CDO 2003-1.

Lennar Partners’ Lennar CDO 2003-1 is a $763 million structured finance vehicle containing real estate collateral with a weighted average life of 10.22 years. The arbitrage cash flow deal is agented by three firms — Deutsche Bank, Merrill Lynch and Morgan Stanley — an unusual sight on the CDO front. The Lennar CDO features a plethora of tranches — A through F — and the lowest tranche comprises the majority of the deal, 45%, or $343.2 million. The CMBS collateral pool breaks down as: retail, 34.5%; office, 26.8%; and multifamily properties, 22.8%.

Independence IV is a $400 million cash flow CDO backed by ABS and MBS collateral with a weighted average life of 7.5 years. The deal

is managed by Declaration Management & Research LLC, which was previously known as Independence Fixed Income LLC. Declaration’s parent company is John Hancock Life Insurance Co, a double-A rated credit by Fitch Ratings. Credit Suisse First Boston is the deal’s agent. One noteworthy item of the deal is that excess spread exceeding a 10% equity cap will be used to pay down subordinate notes.

Circulating

At press time spreads on Duke Funding Ltd. tightened from last month; the deal’s I-B $12 million tranche reportedly saw spread talk go from 125 basis points over the three-month Libor to current talk of 100 basis points over the same benchmark. Duke Funding’s top tranche, I-A, worth $300 million, is heard to be at 65 basis points over the three-month Libor, or at 55 basis points with a wrap. The CDO’s manager is Ellington Capital Management and the deal is comprised of diversified structured finance collateral.

Finally, with so much focus on the high yield loan market, recent pipeline entrant NYLIM Flatiron CLO 2003-1 already has price talk. Sources report the $350 million leveraged loan-backed CDO has top tranche talk at 54 basis points over the three-month Libor and B tranche talk at 90 basis points over the same benchmark. — CMO

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

U.S. ABCP Outstandings Rise to $737.8B; New FIN 46 Compliant Vehicle Enters Market

Fitch Ratings-New York- U.S. Asset-Backed Commercial Paper (ABCP) outstandings rose 1.92% to $737.8 billion in May from $723.9 billion the month prior, according to Fitch Ratings' latest edition of 'ABCP Paper Trail,' a monthly digest of the rating and research activity of the firm's asset-backed commercial paper group.

The U.S. ABCP market's share of all outstanding CP improved for the third consecutive month to 53.89% from 53.12%. As total secured outstandings increased to near year-end levels, so too did secured CP's share of overall CP outstandings. Market participants remain buoyed by the likelihood of successful FASB Interpretation No. 46 (FIN 46) restructurings as well as the possibility of regulatory capital relief.

Fitch issued 12 ratings confirmations during the month of May in connection with 12 ABCP programs, a majority of which were in response to program amendments. In addition, several new ratings were assigned during the month. The most notable of such ratings was the 'F1+' assigned to the Bank of America's new ABCP program Yorktown Capital, LLC, which is designed to comply with FIN 46 and avoid consolidation by Bank of America.

The latest edition of 'The ABCP Paper Trail' can be found on Fitch's web site at 'www.fitchratings.com' in the 'newsletters' section corresponding with the 'ABS sector' or by contacting the Ratings Desk at 1-800-893-4824.

Contact: Brent Griffith, +1-212-908-0737 or Darryl J. Osojnak, Esq., +1-212-908-0602, New York.

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

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Complaint Bulletin Board Weekly Report

The purpose of the Bulletin Board is to post legitimate complaints. Often Leasing

News acts as an ombudsman, a third party that helps negotiate a settlement. When

it is resolved, it no longer is a complaint and is not posted.

Readers have not been seeing many postings, as many of the complaints get

“resolved.”

(These “cases” have been altered to hide the identity of the people involved.)

Last week we were successful in returning a $2,400 advance rental to an applicant

who did not receive an approval on a lease he had signed a commitment. While

it was not requested, the check was sent back next day Federal Express.

A printer claimed a $862 deposit was not returned to him from a commitment letter signed in November. The complaint was made in March, and took this

time to contact all the parties, re-interview the lessee, the salesman who had

left the original company, the company, the vendor, the lessee, and another

leasing company. What makes this a real comedy of errors is the applicant

not only could not prove his case, but the vendor of the equipment admitted

to receiving a second approval, but by this time, the lessee had found a third

party, who consummated the lease, and the vendor delivered, but the equipment

did not work as promised, so it was returned. And the original applicant

wanted his money back from the first broker, who he had signed a commitment

letter. We decided this was a “civil issue” at best. The broker appeared to

be in the right with his commitment letter.

Two separate brokers were involved in submitting a million dollar lease to a company who is not a member of any leasing association, has no website, or any

means to indicate they could consummated a million lease. After two months,

the applicant wanted an answer, then the so called funder produced a letter

that the applicant had no complaint, then the applicant said it wasn’t partially

true. We advised the applicant there was a two part situation: one, getting the deposit back; two, getting the lease approved. Perhaps the two should not

be mixed. The commitment letter also had an out for keeping a fee, plus it appeared both brokers belonged to the National Association of Equipment Brokers(NAELB). We suggested that the brokers seek legal advice from their association, if this could not be resolved. The applicant did not want to make a formal complaint to Leasing News, at this time.

A broker/lessor made two separate complaints about two commissions from two separate funders. The funders had a different story than the broker/lessor, which

appeared to have merit. Since all parties belonged to the United Association

of Equipment Leasing(UAEL), it was suggested that the UAEL Standards

and Ethics Committee make a judgment on the matter, as a committee of

their peers might be able to sift out who was right and who was wrong.

Part of the issue also centered around “ethics” and this venue would

be less expensive and would understand the complexities of the

transactions. The funder was in accordance with this procedure. We are not aware

of the status of the original complaint, except it was not clear enough

to print on the Leasing News Bulletin Board.

A $1800 deposit for a limousine was held by a company, which started out

as a lease and became a finance through CIT. The applicant could not

pay the up-front sales tax or money “down,” and asked to have its

deposit returned. The “broker” allegedly hired an attorney. In

discussing the matter for over a month, it was learned the attorney

was a golfing buddy of the broker, and after persuasion, the broker

agreed to refund the deposit in three monthly installments. The attorney

now wants the original applicant to sign a settlement agreement not to

discuss the matter or fly a “class action case” and the three page agreement

is a condition to obtain the original deposit back in three equal installments

(the broker was not licensed in California for automobile or equipment

leases, and this, including having the funder testify before the department

of corporations, was instrumental in the attorney recommending

the deposit be returned ( the commitment letter was explicit

to terms and conditions which were not met, by the way. )

The lease had ended, but the lessee said the purchase option was a $1.00.

The actual contract had “fair market value” on its face. The original cover

letter sent by the lessor had “fair market value” in the description of

the proposal. The price for the equipment was a “wholesale,” or

“low value” amount, and the lessor had offered terms. The lessee

was advised to see if the lessor would take a “cash price” today,

lower than the offer, and if not, to take the terms as he would

have a tough time proving that it was a $1.00 purchase option

based on the papers that he submitted. He was advised the

attorney fees would undoubtedly be more than the “fair market

value” purchase option. We did not contact the lessor.

(This e-mail was received ( it has been altered to disguise the identity)

We had competition from a broker, who told our client to visit your website, Leasing News, and was told to read the complaint board. I lost a deal called *****************. I am personally trying to do damage control on the second deal from the same broker. Obviously, this is hampering my business especially since those complaints were long ago at my previous company. With this tough economy and the cut throat industry we are in, its hard enough to just get by. Now I have a competitor that is using your website as a sales tool. Do you still

have to post the complaint?

(The question is how long should we post the complaint:One year, two years, three years, five years? We will reach a five-year point. There are people on the list who have repeated their pattern. Don’t have an answer to the question, but

if you have an opinion, would like to hear from you—perferably “on the record.” editor.)

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Abacus Equipment Leasing., Inc. v. Christopher L. Menkin, et al

Hon. Donna M. Siwek, State of New York, Supreme Court, County of Erie,

“ORDERED, that the action is dismissed for lack of personal jurisdiction as against Menkin, Leasing News, and American Leasing.”

Abacus has until July 16 to file a Notice of Appeal.

For readers not familar with the Abacus Bulletin Board complaint and

the story:

http://www.leasingnews.org/Conscious-Top%20Stories/abacus_sues_LN.htm

http://www.leasingnews.org/Conscious-Top%20Stories/abacus.htm

Please send to a colleague as we are trying to build our readership.

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****Announcement*************************************************

The Lessors Network Annual Networking Conference

Which Funding Sources | Which Service Providers

August 25 & 26 | The Ritz-Carlton, Buckhead | Atlanta, GA

Which Funding Sources? | Which Service Providers?

Overview

Today's quickly evolving leasing markets require you to have access to the right information all the time, to spot new business opportunities, identify emerging resources, products and services, and react quickly. For the past four years, the Lessors Network's Annual Networking Conference has set the standard for meeting these challenges.

Networking Lounge - Shake hands with fellow conference participants as we prepare for a fast-paced, informative and highly productive day. No boring exhibitor booths or appointments needed here. The Networking Lounge provides a warm and relaxed enclave of elegance facilitating private conversations between all conference participants. All Attendees are invited to bring a supply (suggest 200 printed copies) of either their Funding Source Profile or Service Provider Profile for free distribution in the Networking Lounge. Now everyone you meet enhances your equipment leasing networks!

General Session | Theme Specific Roundtables - An elite group of business executives will discuss current industry dynamics of outsourcing products and services within the equipment leasing and finance industries.

Service Providers Showcase View Past Participants - Service Provider representatives will alternate introducing innovative outsourcing resources, technology products and services, etc. targeting the equipment leasing and finance markets.

Funding Source Showcase View Past Participants - Funding Source representatives from the corporate and public finance markets will alternate delivering brief oral presentations showcasing their buy/sell "investment" strategies in the primary and secondary markets.

It's quick and easy! Sellers inform attendees what they have for sale and Buyers inform attendees what they are looking to buy enabling attendees to quickly identify and evaluate which funding source representatives they need to seek out for further consultation. An extraordinary opportunity for portfolio managers responsible for adjusting their portfolios at year end.

Networking Reception | Tabletop Exhibits - A new standard in distinctive elegance and business sophistication, the Networking Reception represents a key networking opportunity where private dinner plans often originate. Exhibitor's tabletop exhibits provide convenient access to Exhibitor representatives and promotional material.

From the elegant Ritz-Carlton, Buckhead hotel in Atlanta, this high-profile event uses an upscale, "professionally intimate" conference culture (see Why We Limit Attendance & Attendee Invitation Policy) to deliver a highly productive networking forum designed to enhance new business opportunities in the corporate and municipal equipment leasing markets.

Whether you represent a...

Corporate or governmental agency lessee/borrower

Corporate and/or public finance lessor/lender (funding resource), or a

Company that provides products and services to funding resources

Don't Miss The Most Productive Equipment Leasing Event Of The Year !

Agenda: http://www.lessors.com/Events-2003/Annual/agenda.html

Registration: http://www.lessors.com/Events-2003/Annual/registration-info.html

Venue: http://www.lessors.com/Events-2003/Annual/venue.html

Questions: Events@lessors.com

http://www.lessors.com/Events-2003/Annual/annual.html

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National Association of Equipment Leasing Broker Newsletter

This was sent by a reader, and does not open to the front page.

You can access the pages from the content page on the left.

http://64.82.65.38/newsletter/cole.htm

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

U.S. Transit Responds to Growing Financial Challenges

Fitch Ratings-New York- Fitch Ratings expects U.S. transit management to pursue a number of initiatives to maintain fiscal stability and service competitiveness in the face of rising financial pressures resulting from an economic downturn and funding constraints, according to a new report published today by the bond rating agency. These measures include focusing on core services, managing the pace of wage and benefit increases, selectively expanding networks where demand is demonstrated and when resources are available, and raising fares to provide sufficient revenues along with other sources to meet operating and capital needs.

Fitch will hold a teleconference to discuss the new report on Thursday, June 19, at 2:00PM Eastern Daylight Time (EDT).

'Transit agencies have seen a fall off in their funding sources and now must adjust their operations and capital programs to this new fiscal reality,' said Scott Trommer, senior director, Fitch Ratings. 'Since transit operates in a highly political environment, agencies will need to navigate through the public's resistance to proposals that raise fares, reduce service and delay or reduce the scope of new projects.'

Fitch rates $24 billion of debt involving 27 securities issued by 16 transit agencies and related authorities. Debt issued by these agencies has been secured primarily by a gross lien on one or more dedicated tax sources. Fitch currently maintains a stable outlook on debt in this sector, generally rated in the 'A' and 'AA' categories by the bond rating agency. However, structural deterioration of an individual transit agency's overall financial condition could trigger a credit review by Fitch.

'Fitch anticipates that management will employ alternative capital financing measures to help address transit's capital needs, including leveraging of federal grants, operating revenues on a gross lien basis, subordinated debt structures, and COPs, among others,' said Trommer. 'Fitch also expects transit agencies to pursue a range of other initiatives to maximize resources and enhance efficiency, including alternative service delivery strategies, asset-liability management, and use of public-private partnerships.'

The new Fitch report includes a broad discussion of the state of U.S. transit, including an overview of federal, state and local support for transit, the growing challenges faced by the sector, details on Fitch's rating process, and an assessment of alternative financing options and financial management and service delivery initiatives.

Fitch will hold a teleconference on the new report on Thursday June 19 at 2:00 p.m. EDT. Domestic participants should call +1-888-266-4139 and international participants should dial +1-706-643-1860 five minutes prior to the 2:00 p.m. EDT start time and give the title of the call, 'U.S. Public Transit'. To ensure that sufficient telephone lines are available for all companies, we would appreciate you using internal conferencing capabilities.

Interested parties who are not available for the teleconference will be able to hear a replay of the call starting on Thursday, June 19 at 5:00 p.m. EDT until Wednesday, June 25 at 6:00 p.m. EDT. Domestic listeners should dial +1-800-642-1687 and international listeners should dial +1-706-645-9291 and use the access code '1306166'.

Additionally, a replay of the teleconference will be archived on the Fitch Ratings web site for three months. Interested parties can find the appropriate link at the 'Company Events & Online Media' link, which is located under the heading 'About Fitch' at 'www.fitchratings.com'.

Interested parties can e-mail pfconference.calls@fitchratings.com.

'Running for the Train: The Path Ahead for U.S. Transit' is available on the Fitch web site at www.fitchratings.com. The report can be found by linking to the 'U.S. Public Finance' sector and clicking on 'Special Reports.'

Contact: Scott Trommer +1-212-908-0678 or William Streeter +1-212-908-0508 New York.

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News Briefs---

Government may hit national debt ceiling next year

http://www.boston.com/dailynews/167/economy/Government_may_hit_national_de:.shtml

Job seekers face worst market Ten Years; Teenagers/Colleges Students no luck

http://www.boston.com/dailynews/168/economy/Job_seekers_face_worst_market_:.shtml

Tyco restates results back before CIT takeover http://www.boston.com/dailynews/167/economy/Tyco_restates_results_back_to_:.shtml

At the Air Show, the U.S.-France Rift Shows

http://www.nytimes.com/2003/06/17/business/17SHOW.html

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Sports Briefs---

J.J. Stokes Agrees To One Year Deal With Jaguars

http://espn.go.com/nfl/columns/misc/1568724.html

NBA Finals Fizzle for Broadcast Network ABC

http://www.washingtonpost.com/wp-dyn/articles/A2357-2003Jun16.html

Wilstein: Tennis Needs Andy Roddick

http://www.nytimes.com/aponline/sports/AP-TEN-Steve-Wilstein.html

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Highlights This Day in American History

1579- the expedition of Sir Francis Drake anchored in a harbor just north of present-day San Francisco Bay in California, during drake’s celebrated circumnavigation of the globe. Drake named the land Nova Albion and claimed it for England. The members of the expedition spent a month repairing their ship. Then on July 26 Drake sailed from California, continuing north and then west across the Pacific Ocean. The precise spot that Drake and his men landed and stayed for a month is a controversy between historians and the actual spot bay is not known. All Drake’s records were destroyed for political reasons and this event is also part of the controversy. ( Encyclopedia of American Facts, Gordon Carruth ). http://legends.dm.net/pirates/drake.html

1742-birthday of William Hooper, signer of the Declaration of Independence, born at Boston, MA. Died Oct 14, 1790 at Hillsboro, NC. The British in retribution burned his house and farm during the war. http://www.williamhooper.com/

1775-Suffolk County, MA, celebrates a county holiday to commemorate the Battle of Bunker Hill. According to the same source quoted above, the Battle of Bunker Hill was actually fought on Breed’s Hill. British forces under General Howe assaulted the Continental position three times before the Americans, under Col. William Prescott, ran out of gunpowder and were forced to retreat. The British then occupied Bunker Hill after another skirmish. For this reason, it is referred to as the Battle of Bunker Hill in history books. Today when you visit Boston, and the guide takes you to Bunker Hill, it is really Breed’s Hill, as historians decided to change the name rather than explain the story.

http://memory.loc.gov/ammem/today/jun17.html

1837- Strong Vincent is born in Waterford, Pennsylvania. After working as a lawyer, he went on to become a hero at the Battle of Gettysburg, where he was mortally wounded defending Little Round Top. When hostilities erupted in April 1861, Vincent left the law to become an officer in the Erie Regiment, Pennsylvania Volunteers. By early 1862, he rose to commander of the 83rd Pennsylvania. Vincent served in several campaigns with the Army of the Potomac, fighting at Yorktown, Fredericksburg, and Chancellorsville. He was promoted to colonel after Yorktown, and prior to Gettysburg, Vincent was given command of the Third Brigade, First Division, of the Fifth Corps. On the night of July 1, 1863, Vincent and his men were hurrying toward the battlefield under a bright moon. When the soldiers passed through a small town near Gettysburg, the regiment bands began to play and residents came to their doors to cheer the Yankee troops. Vincent remarked to an aide that there could be a worse fate than to die fighting in his home state with the flag overhead. The next day, as Vincent and his brigade were arriving behind the Union lines, General Governor K. Warren frantically summoned Vincent's force to the top of Little Round Top, a rocky hill at the end of the Federal line. Warren observed that the Confederates could turn the Union left flank by taking the summit, which was occupied by only a Yankee signal corps at the time. So Vincent and his men hurried up the hill, arriving just ahead of the Rebels. The brigade held the top, but just barely. Vincent was mortally wounded in the engagement and died on July 7. He was promoted posthumously to brigadier general. http://members.aol.com/CWSurgeon0/indexV.html

http://www.oldgloryprints.com/What%20Are%20Your%20Orders.htm

http://www.hauntedfieldmusic.com/Vincent.html

1849-birthday of African-American Congressman Thomas Ezekiel Miller. http://bioguide.congress.gov/scripts/biodisplay.pl?index=M000757

http://www.scsu.edu/News/lineage.htm

1863-Battle of Aldie, Confederates fail to drive back the Union Army in Virginia. http://americancivilwar.com/statepic/va/va036.html

http://members.cox.net/johnahamill/aldie.html

1865- Dr. Susan LaFlesche Picotte birthday - Native American and U.S. physician. Under the sponsorship of the Women's National Indian Association that was founded in 1880 by Mary L. Bonney and Amelia S. Quinton, SLP graduated a 3-year medical course in 2 years. She finished at the head of her class not yet 24 years of age. She returned to practice medicine primarily with the Omaha tribe although her practice at times included almost as many whites as Indians. It has been estimated that this remarkable woman who braved blizzards and dust storms treated every member of the Omaha tribe in the 25 years of her practice.

http://www.americanwest.com/pages/picotte.htm

http://www.nde.state.ne.us/SS/notables/picotte.html

http://www.cfra.org/center/picotte.htm

1871-birthday of James Weldon Johnson, African American poet, diplomat, songwriter and culturist of black history, born Jacksonville, FL. ( lower half of http://memory.loc.gov/ammem/today/jun17.html )

1894-A poliomyelitis epidemic occurred in Vermont. Between June 17 and September 1, 123 cases appeared in Rutland and Wallinigford. The first major urban polio epidemic took place in the summer of 1916 in New York City, where 9,000 children were stricken and 2,400 died.

1907-jazz reedman Gene Sedric born St. Louis, Mo. http://www.rainerjazz.com/Interpreten/Sedric_G_001.htm http://www.centrohd.com/biogra/s1/gene_sedric_b.htm

1910- country music star Red Foley was born in Bluelick, Kentucky. Foley, elected to the Country Music Hall of Fame in 1967, was the first country star to have a network radio show, "Avalon Time," in which he co-starred with Red Skelton, beginning in 1939. Foley's recordings for the Decca label were extremely popular, and in 1950 he had no less than three million-sellers - "Chattanoogie Shoe Shine Boy," "Steal Away" and "Just a Closer Walk With Thee." He continued his success with religious material in 1951, scoring another million-seller with "Peace in the Valley." Foley was a star on the Grand Ole Opry in the 1940's. In 1954, he moved to Springfield, Missouri, where he became the host of "Ozark Jubilee," one of the first successful country TV series. During the early '60s, he starred with Fess Parker in the TV series "Mr. Smith Goes to Washington." Red Foley died in 1968.

http://www.bellenet.com/foley.html

http://www.countrypolitan.com/bio-red-foley.php

1914-birthday of John Hersey, American novelist, born at Tientsin, China, who wrote “A bell for Adano”, which won the Pulitzer Prize in 1945. “The Wall” and “Hiroshima” are both based on fact and set in Poland and Japan respectively in World War II. Died at Key West, FL March 24,1993.

1917- singer and actor Dean Martin, whose real name was Dino Crocetti, was born in Steubenville, Ohio. He first gained fame as part of a comedy team with Jerry Lewis. When the duo broke up in 1956, Martin's career as both a singer and actor blossomed. His nonchalant, tongue-in- cheek approach proved very popular, as evidenced by his long-running TV show in the 1960's and '70s. Martin's record hits in the 1950's and '60s included "That's Amore," "Memories Are Made of This" and "Everybody Loves Somebody." He died on Christmas Day 1995.

http://www.deanmartinfancenter.com/

http://www.deanmartin.com/

http://www.monmouth.com/~rio1dude/

http://www.sinatra.clanpage.de/

1921-clarinest Tony Scott born Morristown, NJ. http://www.tonyscott.it/

1933-birthday of Maurice “Mo” Stokes, basketball player born at Pittsburgh, PA. Stokes played at S. Francis College (PA and was drafted by the Rochester Royals of the NBA in 1955. He quickly became a top performer, winning the Rookie of the Year award in 1955-56 and making the All-Star team three years in a row. Following the 1957-58 season, Stokes collapsed and went into a coma. Encephalitis made him an invalid, but treammate Jack Twyman cared for him the rest of his life. Died at Cincinnati, OH, April 6, 1970.

1938-the first ski lift to operated in the United States was the Cannon Mountain Tramway at Franconia, NH, a 5,400-foot suspension ride. It was suspended by giant cables 40 feet above the trees and ran from the base of Cannon Mountain to one of it speaks. I had two cars, each accommodating 27 persons, which made the trip up or down in eight minutes at the speed of a thousand feet a minute.

1944---Top Hits

Long Ago and Far Away - Helen Forrest & Dick Haymes

I’ll Be Seeing You - The Tommy Dorsey Orchestra (vocal: Frank Sinatra)

I’ll Get By - The Harry James Orchestra (vocal: Dick Haymes)

Straighten Up and Fly Right - King Cole Trio

1946-the first mobile telephone commercial service was inaugurated by the Southwester Bell Telephone Company, St. Louis, Mo. Installations were completed in the automobiles of two subscribers, the Monsanto Chemical Company and Henry L. Perkinson, a contractor. Conversation was possible with any Bell Telephone System or connecting company telephone.

1946-- Barry Manilow Birthday (“This One’s for You”)

http://www.manilow.com/
***My high school friend, Bruce Johnston, who played piano in my band, and I would sit in his as a "pick-up" bass player, wrote " I Write the Songs," which Barry Manilow made famous. Sue and I go to all Barry's concerts, even belong to his fan club, and suffice it to say, we have all his albums, some in duplicate and triplicate for the car, and for trips. We don't go anywhere with "Barry."

1947-The radio show The Adventures of Philip Marlowe debuts. Based on Raymond Chandler's groundbreaking series of hard-boiled detective novels, the producers hoped to reproduce the success of the hit radio drama The Adventures of Sam Spade, which ran from 1956 to 1941. Chandler's character Marlowe had already appeared on the silver screen four times, notably in The Big Sleep (1946), starring Humphrey Bogart. The character failed to translate well to the radio, though, and the series lasted only a few months.

1950-In a 45-minute operation witnessed by 40 visiting surgeons and doctors at Mary Hospital, Chicago, Il, Dr. James Ward West removed a healthy kidney from the body of a woman who had died. Dr. Richard Harold Lawler transplanted the kidney into the renal pedicle of a patient from who a polycystic left kidney had been removed, and the first kidney transplant was complete.

1952---Top Hits

Kiss of Fire - Georgia Gibbs

Be Anything - Eddy Howard

I’m Yours - Eddie Fisher

The Wild Side of Life - Hank Thompson

1954-The US organized the government of the US Virgin Island.

1954-Televised Senate Army McCarthy hearings ends; perhaps

the finest hour of this medium which exposes McCarthy as a charlatan

who many are afraid to oppose because they do not want to be labeled

a communist ( ironically, McCarthy never exposed one unknown communist).

1960---Top Hits

Cathy’s Clown - The Everly Brothers

Everybody’s Somebody’s Fool - Connie Francis

Burning Bridges - Jack Scott

Please Help Me, I’m Falling - Hank Locklin

1968---Top Hits

Mrs. Robinson - Simon & Garfunkel

This Guy’s in Love with You - Herb Alpert

Mony Mony - Tommy James & The Shondells

Honey - Bobby Goldsboro

1972-Five are arrested for the break-in at Democratic Party Headquarters ( in Watergate complex, Washington, DC). They had previously placed wire taps

and searched the headquarters on a regular basis, but leaving a rear-door unlocked

made a building security guard suspicious. The arrests led to revelations of political espionage, threats of imminent impeachment of the president, and, on August 9,1974, the resignation of President Richard M. Nixon. It is doubly

ironic that Nixon was way ahead in the poll primarily because his opponent

Senator George McGovern of South Dakota was not strongly supported by the Democratic Party, although he had sworn he would end the Viet Nam War

90 days after he was elected.

http://www.watergate.com/

http://sc94.ameslab.gov/TOUR/watergate.html

1976---Top Hits

Silly Love Songs - Wings

Get Up and Boogie (That’s Right) - Silver Convention

Misty Blue - Dorthy Moore

I’ll Get Over You - Crystal Gayle

1976-Four teams from the American Basketball Association joined the National Basketball association as the ABA went out of business after nine years. The four teams, the Denver Nugges, Indiana Pacers, New York Nets and San Antonio Spurs bought the total number of teams in the NBA to 22.

1978 - "Shadow Dancing", by Andy Gibb, reached the number one spot on the pop music charts for the first of seven weeks. Gibb had two other number one hits: "I Just Want to Be Your Everything" and "(Love is) Thicker than Water". Gibb, the youngest of the Gibb brothers who made up the Bee Gees, hosted TV’s "Solid Gold" in 1981-82. Andy scored nine hits on the pop music charts in the 1970s and 1980s. He died of an inflammatory heart virus in Oxford, England in 1988. http://www.andygibb.net/ 1988-Microsoft releases MS DOS 4.0

1984---Top Hits

Time After Time - Cyndi Lauper

The Reflex - Duran Duran

Self Control - Laura Branigan

I Got Mexico - Eddy Raven

1988-Bruce Springsteen separates from Juliette Phillips

1988-The Givens' Family reports heavyweight Mike Tyson beats his wife actress wife Robin Givens. They later divorce on the grounds of “extreme

cruelty

1988—Top Hits

Foolish Beat- Debbie Gibson

Dirty Diana- Michael Jackson

Together Forever- Rick Astley

Make It Real- The Jets

1991-The body of Zachary Taylor, the 12^th US President, was exhumed from a cemetery in Louisville, KY. Taylor died suddenly of acute gastrointestinal illness on July 9, 1850. Some historians suggested that he might have been poisoned. To test this theory, his remains were exhumed ( the first presidential body to be exhumed ). A coroner’s report dated June 26 found no evidence of foul play.

1993-Top Hits

That s The Way Love Goes, Janet Jackson

Weak- SWV

Knockin Da Boots- H-Town

Freak Me- Silk

1994-the first World Cup soccer tournament was held at Soldier Field, Chicago, IL. Fourteen nations competed in the marathon tournament, with games held in nine American cities. Brazil won the cup after defeating Italy at the Rose Bowl in Pasadena,CA.

1994-Former football player and announcer O.J. Simpson was arrested in connection with the murder of his wife, Nicole Brown Simpson, and Ronald Goldman. Simpson had fled his home in the morning rather than be arrested. In the evening eh and his friend Al Cowlings were in Simpson’s white Ford Bronco. They led a horde of police cars on a long but slow car chase on Los Angeles’s freeways and eventually wound up back at Simpson’s home where he was apprehended. Television stations around the country followed these vents live, and an estimated 90 million people watched. Simpson was later acquitted. The killer(s) have allegedly never been caught.

****by the way, Bruce Johnston's birthday is June 24---learn more about

him ( the girls used to fight over him)w.geocities.com/Hollywood/Lot/3813/

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