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About
the Company: |
Sales: Established 20-year
full service lessor seeks sales professional in small or mid ticket
markets. Earn high commissions, with benefits.
Tuesday,
June 22, 2004
Headlines---
Classified
Ads--- Sales Manager
Latest
on “SILO” Leasing Tax Bill
BSB
New Digs, Expands “Risk Adjusted” Program
Alliance
Bank Enters Leasing Fray in Arizona
Alexa
Ranks Leasing Association Web Sites
On-line
Banking, Bill, Loan and Lease Payment Increasing
THE
FUTURE OF LEASING--by Ron Caruso
Greater
Community Bancorp -GFLS- Declares Stock/Cash Dividends
CVB
Financial Corp. Announces 59th Consecutive Cash Dividend
Federal Reserve Beige Report
--- Full Report and by Twelve Districts
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
Classified
Ads--- Sales Manager
Sales Manager:
Atlanta, GA
30 years in transportation Finance with strong management/ sales background. Represented company on national & region markets. Started two successful operations- produce profits and growth.
Email: pml@mindspring.com
Sales Manager:
Chicago, Illinois
Twenty plus years.
Senior sales and marketing management most recently Building "businesses"
from scratch. Leveraging leadership, administrative, operations, financial,
auditing background. WANTED: challenging new opportunity.
Email: edok@sbcglobal.net
Sales Manager:
Dallas/Fort Worth, TX.
Domestic-int'l exp. Small to middle ticket. 24 yrs with Fortune 500 firms(2). Consistently achieves margin/ volume goals.
Email: mfdp1101@charter.net
Sales Manager:
New York, NY
I have over 25 years owning an independent leasing company that specialized in truck leasing. Tow trucks, Limos, ambulances, tractors, etc..
Email: rfleisher@rsrcapital.com
Sales Manager:
Pennsauken, NJ.
17 Years Leasing
in all capacities from CSR and Collections to National Sales Management
and Vice President Vendor Development. Exceptional People Skills. Many
industry references. Email: cherfurth1@aol.com
Sales Manager: Portland, OR. 18+ yrs w/bank leasing company. Supervised 14- 20 sales people. Willing to relocate for the proper position.
Email: pthygeson@netscape.net
Sales Manager:
Seattle, WA
Senior level sales professional w/ (20) plus experience in mid market financing & leasing. The last (8) plus years being self employed in middle market brokerage.
Email: markhenley@qwest.net
Full Listing of all “Job Wanted” ads at:
http://64.125.68.90/LeasingNews/JobPostings.htm
------------------------------------------------------------------------------------------------------
Economic
Events This Week
June
25
Thursday
Durable Goods Orders:
May
New-Home Sales: May
Prices of New Homes:
May
Weekly Jobless Claims
June
26
Friday
G.D.P.: First Quarter
final
Existing-Home Sales:
May
-------------------------------------------------------------------------------------------------------
Latest
on “SILO” Leasing Tax Bill
According to Associated
Press, Lawmakers agreed to prevent companies from leasing public assets
like subways and trains to generate huge tax deductions. The House's
version only looks forward and recoups about $20 billion; the Senate's
broader crackdown covers foreign leased assets and brings in about $40
billion.
Still being debated
and then to a join committee before being sent to the President, it
looks like changes will be made and the question is what the dollar
amount will be.
----------------------------------------------------------------------------------------------------
BSB
Moves into New Digs, Expands “Risk Adjusted” Program
As business continues
to increase, BSB Leasing, Inc., after ten years in the same Denver,
Colorado location has relocated to new and larger facilities. The new
address is 6 Inverness Court East, Suite 125 Englewood, Colorado 80112.
BSB Leasing, Inc.
is a direct funder and syndicator
serving lease brokers nationwide since 1982.
“The new location
will allow BSB to continue hiring additional staff in the short term
and will give us additional capacity to add staff in both the sales
areas and in administration, “
Don Myerson, president,
said. “The need for additional space and facilities is a direct result
of growth achieved by introducing BSB Direct Finance a direct funding
option for brokers, in addition to our traditional syndication programs.
“For 20 years known
primarily as a ‘Super Broker’ added
a direct funding program in early 2003 that offered an application only
product up to $50,000, “ he explained.
After the initial
success of this product, in April, 2004 BSB Leasing decided to expand
its direct funding offerings to include a “risk adjusted” credit philosophy
designed to approve a broader spectrum of credits.
BSB is now approving application only transactions up to $50,000
and transactions up to $100,000 for a single lessee for credits that
fall into an A, B and C category with rates designed to match the quality
of the credit.
“We’re able to handle
a wide variety of credits and transactions, “Myerson said.
Additional changes
at BSB Leasing, Inc. include long time Vice-President of Broker Services,
Bruce Zwillinger moving into a new role as head of the Commercial Group
handling commercial transactions from $50,000 to $1,000,000.
Skip Wehner, formerly
Vice-President of Administration at Granite Financial before joining
BSB in December, 2002 as Vice-President of Business Development takes
over all sales responsibility for our broker network.
BSB Leasing’s new
address is 6 Inverness Court East , Suite 125 Englewood, Colorado 80112.
The telephone numbers remain the same at 303-329-0227 or toll free at
800-945-3372. The fax numbers remain 303-329-0240 or toll free 800-338-5225.
-------------------------------------------------------------------------------
Alliance
Bank Enters Leasing Fray in Arizona
Alliance Bank of
Arizona, part of the Western Alliance Bancorp, also in California and
Nevada, now offers commercial equipment lease financing in Arizona.
“We want to service
our customers, make sure they don’t go to an outside leasing company,”
Dave Johnson said, located in Tucson. “The bank is focusing on equipment
lease financing for medical, office, manufacturing and distribution
purposes,
“We
are not interested in broker business or those who do not bank with
us. We primarily want to take excellent care of
our current customers in this great, fast growing state of Arizona.”
http://www.westernalliancebancorp.com/
Alexa Ranks Leasing Association Web Sites
|
Rank
|
06/17/2004
|
05/19/2004
|
WEBSITE
NAME
|
|
| 1. |
96,839
|
94,369
|
www.aba.com American Bankers Association | |
|
2.
|
118,569
|
143,996
|
www.leasingnews.org Kit Menkin's Leasing News | |
| 3. |
144,833
|
126,780
|
www.elaonline.com Equipment Leasing Association | |
| 4. |
220,945
|
184,793
|
www.monitordaily.com Monitor Daily | |
|
5.
|
224,133
|
198,923
|
www.nacha.org The Electronic Payments Association | |
|
6.
|
315,101
|
280,068
|
www.Leasingpress.com Leasing Press | |
| 7. |
500,865
|
594,497
|
www.uael.org United Association of Equipment Leasing | |
|
8.
|
503,080
|
525,544
|
www.ibaa.org Ind Community Bankers of America | |
|
9.
|
592,514
|
529,480
|
www.naelb.org National Assoc. of Equip Leasing Brokers | |
|
10.
|
578,419
|
570,970
|
www.cfa.com
Commercial Finance Association
|
|
|
11.
|
703,599
|
552,384
|
www.leasefoundation.org Equip. Leasing & Fin Fndn | |
| 12. |
710,473
|
722,522
|
www.nvla.org National Vehicle Leasing Association | |
|
13.
|
809,419
|
738,101
|
www.us-banker.com U.S.Banker | |
| 14. |
1,022,962
|
1,405,098
|
www.executivecaliber.ws Exec Caliber-Jeffrey Taylor | |
|
15.
|
1,142,410
|
708,538
|
www.leaseassistant.org Lease Assistant | |
|
16.
|
1,282,752
|
1,036,995
|
www.lessors.com eLessors Networking Association | |
|
17.
|
1,293,598
|
1,520,784
|
www.iicl.org Institute of International Container Lessors | |
|
18.
|
2,446,035
|
4,460,674
|
www.eael.org Eastern Association of Equipment Leasing | |
|
19.
|
3,114,349
|
3,240,509
|
www.aglf.org Assoc of Government Leasing Financing | |
|
20.
|
3,598,580
|
No Data
|
www.efj.com Equipment Financial Journal | |
|
21.
|
3,730,853
|
1,549.040
|
www.clpfoundation.org CLP Foundation | |
| 22. |
4,914,446
|
4,641,957
|
www.nationalfunding.org The National Funding Assoc | |
|
23.
|
5,411,405
|
2,358,687
|
www.mael.org Mid-America Association of Equip Lessors | |
|
24.
|
No Data
|
No Data
|
www.leasecollect.org Lean -Lease Enforcement Att Net |
Business Leasing News
is not included in the Alexa report list as it does not have its own
individual site and Alexa finds Patton Boggs, LLP Attorneys at Law. The rating is not valid as it includes all
those who visit and communicate with the law firm. When Business Leasing News has its own individual web site, it will
be included in the Alexa survey.
It should also be noted
that several of the web sites have their "list serve" posted
via their site, meaning their e-mails are counted as a visit to the
site, whereas they are "list serve" communication. These are technically visits to the web site,
but primarily to use "list serve."
These comparisons are
compiled by Leasing News using Alexa and should be viewed as a "sampling,"
rather than an actual count from the website itself. Other than as noted above, we believe the ratings
are reflective as most have stayed in the same position, basically,
for over a year.
The Alexa tool bar works
on most browsers.
They are partnered with
Google.
You may download their
free tool bar A graph and analysis of the last three months are available.
( Note: the lower the
number, the higher you are on the list. It is based on all web sites.
Leasing is only a very small part of the various sites such as Yahoo,
MSN, Google, etc. )
--------------------------------------------------------------------------------------------------------
On-line
Banking, Bill, Loan and Lease Payment Increasing
Loan and lease payment
payments are replacing direct required payments from
bank accounts.
On-line banking and
bill payment is on the rise in the U.S., with more than 22 million Americans
logging into Web accounts at the 10 largest banks during the first quarter,
according to Bank Technology News. That’s an increase of 29 percent
from first quarter 2003, according to ComScore Networks.
The firm also says
on-line bill payment grew 37 percent in first quarter 2004 from first
quarter 2003. ComScore reports on-line banking and bill payment are
among the fastest growing applications on the Internet.
More than 4.6 million
consumers, or about 20 percent of the Web banking market, used Web bill
payment during the first quarter, paying an average of 14 bills.
-----------------------------------------------------------------------------------------------------
|
The only annually-updated international reference book for the asset financing and leasing industry available. The new 25th edition includes the latest market trends, over 100 authoritative articles and reports on the leasing software and IT market, an exclusive ranking of the top 50 leasing markets by size worldwide with feature profiles from Africa to Venezuela PLUS a directory of over 4,400 contacts.
Alternatively visit https://www.euromoneyplc.com/ to order online |
THE
FUTURE OF LEASING
efj.com
By: Ron Caruso
( Is leasing in the smaller market place a “finance” instrument
rather
than a “tax” instrument?
And what is “smaller?” Even in the municipal marketplace,
“smaller” is more
“finance” than “tax.” Ron Caruso again brings an intellectual
viewpoint to the
changing world of equipment finance and leasing, or has it not
changed, but we have? Editor )
While Congress is
redefining the rules of the game as they may apply to certain types
of equipment financing, there are other sectors of the leasing industry
that are unaffected by this outcome that are continuing to do business,
some more successfully than others.
As I look at the
leasing industry today, more than ever it appears to consist of whales
and minnows, aptly predicted by the ELA’s Futures Council many years
ago. What is lacking is a middle size range of leasing
companies. This was once the domain of independent leasing companies
that had grown to a point of super-regional or national coverage and
had their own funding capability. Even the
population of the whales, due to the continued consolidation
among major banks, is being reduced.
What we have today
more than ever is a handful of billion dollar+ leasing companies and
a large number of small leasing companies serving specific niches. Looking
into my crystal ball, there does not appear to be a wave of new entrants
ready to enter the fray and re-energize the leasing industry. Why not?
Well, at least partially because the cost of entry today is much higher
than in the past and the rewards are not as great. Measured by either
ROE or ROA, leasing is not providing the same returns for most companies
that it has in the past. Sure, the portfolios are larger, but the bottom
line results are not as compelling. There are many reasons for this,
i.e., competition from within as well as outside of the leasing industry,
and greater lessee negotiating ability.
These trends are
leading some financial institutions to re-evaluate the role of leasing
within their respective financial families. Some are now changing the
role of leasing from being a profit center, to being another product
offered to its customers. The term that is heard more frequently is
“following the bank’s footprint.” For these financial entities, leasing
is a capability embodied in a few individuals who also provide other
alternatives to the bank’s customer base, including pure lending. The
lines of distinction for leasing are becoming blurred as it succumbs
to the economic reality of its potential.
It is difficult to
conceive of a start-up leasing company today able to reach a critical
mass of several billion dollars in its portfolio, and thus be considered
a whale. Competitive forces and new rules of the game from Congress
mitigate against this. Without the critical mass, the cost of entry
in people and technology becomes a prohibitive burden, restricting a
company’s competitive position. Additionally, when a leasing company
decides to close its doors, the company is usually sold as a portfolio
purchase, absent some specific expertise in a niche market. The result
is a whale-purchaser becomes larger, able to spread its fixed costs
over a larger portfolio. Will this trend continue? The answer is probably.
It will still leave room for leasing as a financial product as well
as “minnows” that specialize in specific niche markets.
Leasing has long
since legitimized itself as a “viable financial alternative’, responsible
for a major portion of equipment financing. However, it may have peaked
in that regard, growing in the future only as capital expenditures grow.
Given this premise, new entrants merely are new mouths to feed from
a market that isn’t growing.
The solution? More
comprehensive alternatives that include equipment financing, wrapped
with other necessities, such as maintenance, floor planning, asset disposition.
These options require different capabilities and a different risk/reward
perspective. However, they also provide a way to distinguish one’s capabilities
from the “pure vanilla” others may offer. Food for thought? Stay tuned.
|
About the Company: www.odysseyequipfinance.com |
###
Press Release ###################################
Greater
Community Bancorp -GFLS- Declares Stock and Cash Dividends
TOTOWA,
N.J.--The Board of Directors of Greater Community Bancorp (Nasdaq:GFLS)
have declared a 2.5% stock dividend and a quarterly cash dividend
of $0.12 per share on the Company's common stock, both payable July
31, 2004 to shareholders of record as of July 15, 2004. The combined
stock and cash dividends represent an increase of 11.59% over the
cash dividend paid in the first quarter and a projected annualized
cash dividend of $0.48.
About the Company
Greater Community Bancorp is a $792 million
financial holding company headquartered in Totowa, New Jersey. The
Company operates fifteen branches in the northern New Jersey counties
of Bergen, Passaic and Morris through its three state-chartered commercial
bank subsidiaries: Greater Community Bank, Bergen Commercial Bank
and Rock Community Bank. They provide traditional commercial and retail
banking services to small businesses and consumers in New Jersey.
The Company, through its bank subsidiary Greater Community Bank, owns
a non-bank subsidiary Highland Capital Corp., an equipment leasing
and financing company. Greater Community Bank also owns Greater Community
Financial.
Forward-Looking Statements
This release contains forward-looking statements
relating to present or future trends or factors affecting the banking
industry, and specifically the financial condition and results of
operations, including without limitation, statements relating to the
earnings outlook of the Company, as well as its operations, markets
and products. Actual results could differ materially from those indicated.
Among the important factors that could cause results to differ materially
are interest rate changes, continued softening in the economy, which
could materially impact credit quality trends and the ability to generate
loans, changes in the mix of the Company's business, competitive pressures,
changes in accounting, tax or regulatory practices or requirements
and those risk factors detailed in the Company's periodic reports
and registration statements filed with the Securities and Exchange
Commission. The Company undertakes no obligation to release revisions
to these forward-looking statements or reflect events or circumstances
after the date of this release.
CONTACT:Greater Community Bancorp Anthony M. Bruno, Jr., 973-942-1111 x 1001 anthony.bruno@greatercommunity.com
or For Media: Margolin & Associates, Inc. Linda Margolin, 216-765-0953
###
Press Release #################################
CVB
Financial Corp. Announces 59th Consecutive Cash Dividend
ONTARIO,
Calif--CVB Financial Corp. (NASDAQ:CVBF) announced a twelve-cent ($0.12)
per share dividend for the second quarter of 2004. The dividend was
approved at the regularly scheduled Board of Directors meeting on
June 16, 2004. It will be payable on July 15, 2004, to shareholders
of record as of June 30, 2004.
"This represents our 59th consecutive
quarterly cash dividend," commented D. Linn Wiley, president
and chief executive officer. "It reflects the continued strong
performance of our company and the positive outlook for the future."
CVB Financial Corp., with $4.0 billion in
assets, operates Citizens Business Bank. Citizens Business Bank is
the largest bank with headquarters in the Inland Empire. It is the
dominant community bank in the Inland Empire, Los Angeles County,
Orange County and Central Valley areas of California.
The Citizens Business Bank Wealth Management
Group has over $1.1 billion in assets under administration. The company
also operates Golden West Financial Services. Golden West Financial
Services provides auto leasing, equipment leasing and real estate
loan brokerage services.
Shares of CVB Financial Corp. common stock
are listed on the NASDAQ under the ticker symbol of CVBF. For more
information, please visit the company's Web site at www.cbbank.com.
CONTACT:CVB
Financial Corp., Ontario D. Linn Wiley, 909-980-4030
###
Press Release ################################
News
Briefs---
Business Development Office
|
Business Development Officer,leasing exp.,min 3 yrs business & direct sales exp. Banking procedure knowledge helpful. Gilroy, CA location, serving four surrounding counties. E-mail valdezd@1stnational.com or see Career Opportunities www.pcbancorp.com About the Company: Pacific Capital Bancorp is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness and personalized attention of a local community bank. |
Silicon Valley (Version
2.0) Has Hopes Up, But Still “Fragile”
http://www.nytimes.com/2004/06/22/technology/22VALL.html
Stock Market Waiting
for Technical Break
http://www.internetnews.com/bus-news/article.php/3371521
----------------------------------------------------------------------------
Sports
Briefs---
Finally, Bryant has
Lakers in his hands
http://www.mercurynews.com/mld/mercurynews/sports/columnists/
Renovated Lambeau
creates cash windfall
http://www.jsonline.com/packer/news/jun04/238017.asp
CBS has eye on NFL
switch
http://www.nydailynews.com/sports/football/story/204420p-176425c.html
-------------------------------------------------------------
California
Nuts Briefs---
More Slot Machines
for Tribes, and $1 Billion for California
http://www.nytimes.com/2004/06/22/national/22casinos.html
Governor, five tribes
sign gambling agreement with wide implications
http://www.signonsandiego.com/news/state/20040621-1920-cnscasinos.html
---------------------------------------------------------------------------
“Gimme
that Wine”
Washington Wine Company
Stimson Lane Adopts New Name
http://www.winespectator.com/Wine/Daily/News/0,1145,2511,00.html
$1.99 Charles Shaw
wine strikes gold at competition
http://www.montereyherald.com/mld/montereyherald/news/politics/8940207.htm
http://www.sfgate.com/cgi-bin/article.cgi?file=
/chronicle/archive/2004/06/17/WIGDI76NFV1.DTL
Cult mentality Scarcity, stratospheric scores and collectors'
compulsions to buy Napa Valley
Cabernet have created a . . .
http://www.sfgate.com/cgi-bin/article.cgi?file=/
chronicle/archive/2004/06/17/WIGT8767PK1.DTL
Glass Stopper Replacing
Cork
http://msnbc.msn.com/id/5218305/
Uncorking a dream:
http://www.sacbee.com/content/business/story/9670881p-10594194c.html
Hop Kiln Winery sold
to Seattle group
http://www.pressdemocrat.com/business/news/18hopkiln_e1e01_biz_e1streete.html
Wine Spectator buys
historic Noyes Mansion
http://www.napanews.com/templates/index.cfm?template=story_full&id=B0B9BCCE-5384-42D0-B7F3-60E1567E29F2
---------------------------------------------------------------------------------------------------------
|
About the Company: www.odysseyequipfinance.com |
This
Day in American History
June 22, 1903 Ben Pollock Birthday
1807
- The crew of the British man-of-war, "Leopold," fired upon
and boarded the United States frigate "Chesapeake." The commander
of the "Chesapeake," James Barron, was court martialed and
convicted for not being prepared for action. Along with some others,
this incident led to the War of 1812. Eight years after the war, Stephen
Decatur, a judge in the court martial, was killed in a duel. The victor
of the duel was James Barron.
1832-
John Ireland Howe of Derby, CT, obtained a patent for manufacturing
pins. He exhibited it at the American Institute Fair in New York City,
receiving a silver medal for his contribution to Manufacturing.
He later founded the Howe Manufacturing Company and made improvements
on his design. It was a great
boon
to the clothing industry, among others.
1846-
Adolphe Sax patented his invention - the saxophone. He had invented
the instrument early in the decade, and by the time the patent was granted
there were 14 different saxophones - seven designed for orchestras and
seven for bands. The saxophones designed for bands are the ones in common
use today.
1847-The
doughnut with a hole was first invented in 1847 by American sea captain
Hanson Crocket Gregory.
http://www.etni.org.il/challenge/challenge5.htm
1896-
Dr. Mary Stone ( Shih Mai-Yu), graduated from the Medical School of the University
of Michigan, Ann Arbor, MI, becoming
the first
physician
who was a Chinese woman. She
founded the Women’s Hospital
at
Kiukiang, China, under the auspices of the Methodist Foreign Mission
and served as its head for 25 years.
1894-Legendary
magician and escape artist Harry Houdini married Wilhelmina Beatrice
Rahne.
(lower part of: http://memory.loc.gov/ammem/today/jun22.html
)
1903-Birthday
of Ben Pollack, Chicago Dixieland drummer, who owned a “pizza/beer/jazz
“ joint on Sunset Blvd in Hollywood, California, with a cover
charge. When I was growing up, this was one of best
hang outs as those under
18
could get in, and often, we had beer, although we were also not 21. Pollack was a “boom-chick-a-boom” drummer,
but played with some of the best and is mentioned in many Chicago jazz
era books. Warren Luening, Jr. would
sometimes
sit in and play trumpet with the band. Pollack really liked
his
playing, and it may have been one of the reason we were always
able
to drink beer here.
1910
-- .. Dancer, anthropologist, humanitarian, philanthropist.
Katherine
Dunham born, Chicago, Il
http://www.eslarp.uiuc.edu/kdunham/bio.htm
http://www.pbs.org/wnet/freetodance/biographies/dunham.html
1912—The
Republican party under President Roosevelt got into a bitter
feud
between the various faction of the party, starting out in the open
with
Roosevelt asking a faction to leave the convention; resulting in
a
split party, basically giving the election to Democratic candidate
Woodrow
Wilson, who was not that popular but won because
of
the Republican split party.
http://www.canoe.ca/MusicHistoryAugust/home.html
1918-A
Michigan Central Railroad troop train, after several days shuttling
soldiers to New York from Chicago, was deadheading back to the Midwest
when it struck the rear of the Hagenback-Wallace Circus train.
The circus trained has stopped to have its brake box overhauled
in Ivanhoe, Indiana. Fifty-three circus performers were killed.
Of the circus animals not killed outright, many that were crippled
and maimed had to be destroyed by police officers. The performers, of
who only three could be identified, were buried in a mass grave.
The engineer, A.K. Sargent, who was accused of falling asleep
at the throttle, was tried and acquitted.
1919-An
F5 tornado struck the town of Fergus Falls, Minnesota. 59 people were
killed and 400 buildings were destroyed. Lumber was carried for 10 miles
and
other
debris were found 60 miles away.
1933-Birthday of Diane Feinstein - U.S. Senator from California, former mayor of San Francisco. In 1969, she first woman to be elected president of the San Francisco Board of Supervisors and then succeeded the murdered mayor serving 1978-88. She was defeated in a try for Governor of California but lost and then was elected U.S. Senator in 1992. She is known as a consensus builder.
1936—Birthday
of singer/actor Kris Kristofferson, born Brownsville, Texas.
1937-At
Chicago’s Comiskey Park Joe Louis won the World Heavyweight Championship
title by knocking out James J. Braddock (eighth round). Louis retained
the title until his retirement in 1949. Exactly one year after the Braddock
fight, on June 22, 1938, Louis met Germany’s Max Schmeling, at New York
City’s Yankee Stadium. Louis knocked out Schmeling in the first round.
1938
-- Joe Louis knocks out "Aryan supremacy claimant Max Schmeling.
http://www.ibhof.com/jlouis.htm
1944
- The GI Bill of Rights was signed by President Franklin D. Roosevelt.
One of the most important governmental measures of the post-World-War-II
era, the bill was designed to provide greater opportunities for returning
war veterans. An important result of the bill was the training of almost
8 million veterans.
1945-
Howard Kaylan, one of the two lead singers of the Turtles, was born
in New York City. The Turtles had hit singles with "It Ain't Me
Babe" in 1965 and "Happy Together" and "She'd Rather
Be With Me," both in 1967. Some members of the Turtles wanted the
group to be more than a band that made hit singles. The resulting dissension
led to the Turtles' breakup in 1968. Lead singers Howard Kaylan and
Mark Volman joined the Mothers of Invention, and then embarked on a
duo career as Flo and Eddie.
1947-
12 inches of rain fell in 42 minutes at Holt, Missouri, setting a new
rainfall intensity world record. That record was tied on January 24-25,
1956, at the Kilauea Sugar Plantation in Hawaii, as their state record
was established with 38 inches of rain in 24 hours.
1949---Top
Hits
Again
- Gordon Jenkins
Some
Enchanted Evening - Perry Como
Bali
Ha’i - Perry Como
One
Kiss Too Many - Eddy Arnold
1957---Top
Hits
Love
Letters in the Sand - Pat Boone
Teddy
Bear - Elvis Presley
I
Like Your Kind of Love - Andy Williams
Four
Walls - Jim Reeves
1959
- Eddie Lubanski bowled 24 consecutive strikes, that is two perfect
games, back-to-back, in a bowling tournament in Miami, Florida.
1959-Chuck
Berry's "Memphis" is released.
1959
- Starting its fourth week at the top of the Tunedex was "The Battle
of New Orleans" by Johnny Horton. The song spent six weeks at number
one. It was Horton’s only number one record and million copy seller.
He had other big hits with movie music like "Sink the Bismarck"
and "North to Alaska" from the film by the same title, starring
John Wayne. Horton, from Tyler, Texas, married Hank Williams' widow
Billie Jean Jones. On November 5, 1960, Johnny Horton was killed in
a car crash.
1962
- St. Louis Cardinal veteran Stan Musial broke the late Ty Cobb's major
league record of 5,863 career total bases.
1963
- "Fingertips - Pt 2," by Stevie Wonder, was released, and
became his first number one single on August 10th. From 1963 to 1987,
Wonder had 46 hits on the pop and R&B music charts, eight of which
made it to number one.
1963--The
Safaris' "Wipe Out" is released.
1964
- The United States Supreme Court voted that "Tropic of Cancer,"
Henry Miller’s controversial book, could not be banned.
1965---Top
Hits
I
Can’t Help Myself - The Four Tops
Mr.
Tambourine Man - The Byrds
For
Your Love - The Yardbirds
Ribbon
of Darkness - Marty Robbins
1968---Mason
Williams' "Classical Gas" is released.
1968-
the Jeff Beck Group, with Rod Stewart and Ron Wood, made its US debut
at the Fillmore East in New York City. Stewart was said to have had
such a severe case of stage fright that he hid behind the speakers for
the first couple of songs. The band, which had a major influence on
the heavy metal groups that followed, broke up after two LPs and several
North American tours.
1972-
Hurricane Agnes, a category 1 storm, made landfall near Apalachicola,
Florida on the 19th, moved northeast, joined up with an upper level
disturbance, and unloaded anywhere from 10 to 20 inches of rain across
Maryland, Virginia, Pennsylvania, and New York during the period from
the 20th to the 25th. Extreme flooding was the result -- the worst in
U.S. history. A dike was breached at Wilkes-Barre, Pennsylvania and
the resultant wall of water destroyed much of the city. Total damage
was $3.5 billion and 122 lives were lost.
1973---Top
Hits
My
Love - Paul McCartney & Wings
Playground
in My Mind - Clint Holmes
I’m
Gonna Love You Just a Little More Baby - Barry White
Kids
Say the Darndest Things - Tammy Wynette
1981
- A young woman from Lubbock, TX, was struck by lightning. The bolt
of lightning struck just above her right shoulder near her neck, and
passed right to left through her body, tearing her warm-ups, causing
her tennis shoes to explode, and lifting her two feet into the air.
1981---Top
Hits
Stars
on 45 medley - Stars on 45
Sukiyaki
- A Taste of Honey
A
Woman Needs Love (Just like You Do) - Ray Parker Jr. & Raydio
But
You Know I Love You - Dolly Parton
1985
- "People" took count of the deaths in Sylvester Stallone’s
"Rambo" movie, finding that 44 people directly killed. Those
at "People" figured out this was an average of one person
dying every 2.1 minutes. There were also 70 explosions that killed an
uncountable number of people.
1987
- Thunderstorms in southern Texas produced wind gusts to 116 mph near
Quemado. Thunderstorms in New York State produced 5.01 inches of rain
in 24 hours at Buffalo, an all-time record for that location, and produced
an inch of rain at Bath, PA. The temperature at Fairbanks AK soared
to 92 degrees, establishing a record for the date.
1988
- Sixty-five cities in twenty-four states reported record high temperatures
for the date. Tucson AZ reported an all-time record high of 114 degrees,
surpassing the previous record of 112 degrees established a day earlier.
Highs of 98 degrees at Pittsburgh, PA, and 100 degrees at Baltimore,
MD, tied records for the month of June.
1989-
White Sox Carlton Fisk surpasses Yogi Berra as the American League
leader for career home runs by a catcher as his 307th home run helps
to beat the Yanks, 7-3.
1989---Top
Hits
I’ll
Be Loving You (Forever) - New Kids on the Block
Satisfied
- Richard Marx
Buffalo
Stance - Neneh Cherry
Love
Out Loud - Earl Thomas Conley
1990
- The last-place Atlanta Braves fired manager Russ Nixon and replaced
him with GM Bobby Cox, who last managed Toronto in 1985. Good move.
Cox led the Braves to a dramatic worst-to-first turnaround, the first
of its kind in the National League. In the World Series his team lost
to the (also) resurgent Minnesota Twins. Cox was name AP Manager of
the Year (the first manager to be so named in both leagues). The Braves
followed 1991 with NL East championships in 1992, 1993, 1995, 1996,
and 1997, becoming the first team to win division titles in six straight
completed seasons. Those division titles also let to NL pennants, except
for 1993 and 1997.
1998
- CompUSA announced that it was buying Computer City from Tandy for
$275 million. Tandy was selling the sickly chain as part of a turnaround
it had started the previous year. Tandy president Leonard Roberts said,
“Computer City was a losing operation for the company. The sale will
allow us to completely focus on Radio Shack at a time when profits are
at an all-time high.”
1990-
Billy Joel became the first rock artist to perform at Yankee Stadium.
2001--
Returning to major leagues after a stint with Newark Bears of the independent
Atlantic League, Jose Canseco starts as the designated hitter for the
White Sox. The former All Star, who has 446 career home runs (23rd all
time), didn't get any offers after being released by the Angels in the
spring.
2003--
In the 13th inning at Veterans' Stadium, pinch-hitter Todd Pratt hits
a two-run giving the Phillies a walk-off 6-5 victory over the Red Sox.
Boston's shortstop Nomar Garciaparra's club tying record 6-for-6 (all
singles) performance could not prevent the bullpen from blowing three
late leads; 2-1 in the 8th (Thome's HR ties it), 3-2 in 12th (Thome's
second HR ties it).
NBA Finals Champions This Day
1994 Houston Rockets
---------------------------------------------------------------------------------------------------
Baseball
Poem
Play
at the Plate
From
the book
"That
Sweet Diamond"
by
Paul B. Janeczko, Carole Katchen (Illustrator)
Some
watch the ball
short hop the wall and
the right fielder-who
can't pick it up fast enough -
finally snatch it
sling it
to the impatient cut-off man,
who throws home
almost before he turns.
Some
watch the runner
barely
toe the inside corner of third,
eyes on
the coach's windmill arm
signaling haste.
All
watch the meeting place:
the catcher begging for the ball
so he can sweep the tag
at the runner beginning
his slide
before the umpire,
holding his mask
behind his back
as casually as a satin heart
of valentine candy,
signals the meeting over,
the runner safe.
---------------------------------------------------------------------------------------------------
Federal
Reserve Beige Report
Prepared at the Federal
Reserve Bank of St. Louis and based on information collected before
June 7, 2004. This document summarizes comments received from businesses
and other contacts outside the Federal Reserve and is not a commentary
on the views of Federal Reserve officials.
--------------------------------------------------------------------------------
Reports from the
Federal Reserve Banks indicate that economy activity in April and May
continued to expand across the nation. Manufacturing activity continued
to rise in most districts, with several districts describing the increases
as broad-based. Most Federal Reserve districts reported increased demand
for services. Retail sales remained even or rose in most districts.
Residential real estate markets remained strong, and a few districts
noted stable or improving conditions in commercial real estate markets.
Bank lending activity increased in most districts. Conditions in the
agricultural sector were reported as favorable, and the demand for agricultural
products remained solid. Employment activity continued to improve, with
hiring increasing at a faster pace in most districts; meanwhile, wages
and salaries experienced little or muted upward pressures. Many Reserve
Banks reported modest increases in consumer prices, but most districts
noted rising prices of inputs, especially energy-related products, building
materials, and steel.
Consumer Spending
The reports on overall
retail sales in most Federal Reserve districts were generally positive.
Sales were strong at discount and drug stores. Apparel and accessories,
office supplies, food and other consumables, home products, and summer
seasonal items were strong sellers in most districts. In contrast, sales
of high-end electronics and appliances and specialty and gift items
were soft in most districts. Districts reporting strong sales growth
include New York, Philadelphia, Atlanta, and San Francisco. Minneapolis,
Kansas City, Richmond, Chicago, and St. Louis reported slight to moderate
increases in sales. Retailers in the Dallas district offered mixed reports
of both strong and soft sales growth, while Cleveland reported sales
about even with 2003 levels. Boston reported year-over-year increases,
but noted that sales growth had slowed since the first months of this
year. General retailers throughout the districts expressed cautious
optimism about sales in the coming months. Retailers in the Boston,
Philadelphia, Dallas, and San Francisco districts expressed concerns
about the effects of increasing energy prices on sales.
Vehicle sales increased
modestly in many districts and remained flat or slightly down in the
others. San Francisco reported strong auto sales, attributing the continued
strength to the availability of financing incentives. A number of districts
noted that sales of light, fuel-efficient autos had increased; dealers
in Philadelphia and San Francisco also noted that sales of trucks and
sport utility vehicles had decreased because of rising gasoline prices.
Minneapolis also reported strong sales, while dealers in Kansas City
saw a modest increase; both districts noted that rising gasoline costs
had not impeded sales of sport utility vehicles. In Dallas, Philadelphia,
Cleveland, Richmond, Chicago, and St. Louis auto sales were flat or
slightly up from 2003 levels. Atlanta reported sales growth in April,
although sales are still below 2003 levels. In Philadelphia, Chicago,
St. Louis, Dallas, and San Francisco auto dealers reported inventories
above desired levels.
Manufacturing and
Other Business Activity
Overall manufacturing
activity increased in all Federal Reserve districts in April and May.
Districts noted particularly strong growth in the defense, semiconductor,
food processing, paper, lumber and other building products, textiles,
automotive parts, furniture, heavy and other industrial equipment, metal
products, transportation equipment, packaging, and recreational equipment
and parts sectors. Districts reporting declines in activity in some
sectors were Boston (home goods), Philadelphia (transportation equipment
and food products), Richmond (furniture), St. Louis (paper materials
and textiles), and San Francisco (commercial aircraft). Boston, New
York, Cleveland, Atlanta, and Chicago reported intensifying cost pressures
because of rising input costs, especially for steel and related products,
petrochemical products, and wood products. Chicago and Cleveland reported
robust demand for steel. Chicago also reported that steel producers'
orders were booked for the foreseeable future and that heavier shipping
volumes were leading to a surge in truck demand.
Activity in the services
sector increased in most areas throughout the districts. Demand for
freight transportation services increased in the Cleveland, New York,
Richmond, Atlanta, Chicago, and St. Louis districts. Rising demand for
trucking services, coupled with limited capacity, led some firms to
announce new hires and capital expansions. In addition, transportation
firms are more readily passing on cost increases from rising fuel and
healthcare coverage costs to their customers. Tourism was up in most
districts, including Boston, New York, Richmond, Atlanta, St. Louis,
and San Francisco, although some contacts expressed concerns that rising
fuel costs will dampen summer travel. Other services sectors reporting
growth were the software and information technology, financial, insurance,
healthcare, and telecommunications sectors.
Real Estate and Construction
Residential real
estate activity remained robust in most districts. Home sales were exceptionally
strong in the Richmond district, and Kansas City had sales in April
and May that were much higher than the previous year's levels. Some
areas in the San Francisco district had an increase in sales at a near-record
pace. Home price appreciation was steady in Philadelphia ; however,
contacts remarked that homes were taking longer to sell than earlier
in the year. The New York district reported that the housing market
was still strong but indicated that sales were leveling off in New York
City. Single-family housing permits were up in most of the St. Louis
district, as well as in the Minneapolis and New York districts. One
exception was the Chicago district, where permits were down. Dallas
reported a large increase in home construction, leading to a rise in
inventories. Kansas City reported that the high-end market was weaker
than the entry-level market, and in Chicago sales of both new and existing
high-end homes softened. According to contacts in the Chicago, Dallas,
and Richmond districts, "fence-sitters" were jumping into
the market in anticipation of a rise in mortgage rates.
Commercial real estate
markets were mostly slack, although a few districts noted signs of moderate
improvement. Areas with continuing high vacancy rates, slow leasing
activity, and low or flat rents in April and May were downtown Boston
and the St. Louis and Chicago districts. One major exception was the
Washington, D.C., area of the Richmond district, where leasing activity
increased substantially in recent weeks. Leasing activity improved somewhat
in the Philadelphia district. Contacts in Dallas were optimistic that
commercial markets were recovering, particularly since industrial demand
had increased slightly over the past six weeks. Contacts had a positive
outlook for the near future in Atlanta and Kansas City, where vacancies
are expected to decrease over the remainder of the year. Nonresidential
construction activity was mixed. Although construction in Atlanta remained
at low levels, the Minneapolis, St. Louis, and Cleveland districts reported
some improvement.
Banking and Finance
In most Federal Reserve
districts, lending activity increased. Only the St. Louis and Chicago
districts reported that overall lending activity was flat. Atlanta,
Cleveland, and San Francisco reported strong loan demand, while Philadelphia,
New York, Kansas City, Dallas, and Richmond indicated a slight increase
in loan demand. Mortgage loan demand remained strong in the San Francisco,
Cleveland, Chicago, and Philadelphia districts, held steady in the St.
Louis and Richmond districts, and fell in the New York district. The
decline in refinancing activity reported in Philadelphia, New York,
Chicago, San Francisco, and Richmond districts was often linked to the
rise in mortgage interest rates. Only the Cleveland district reported
strong refinancing. Deposits were flat in the Kansas City district,
down in the Dallas district, and up in the Cleveland district. Lending
standards were generally unchanged in the St. Louis, New York, and Kansas
City districts; however, the Chicago district reported some lowering
of standards because of competition.
Agriculture
Agricultural conditions
across the nation were generally favorable. Recent rains have brought
relief from drought conditions in the Minneapolis and Kansas City districts
and have improved soil moisture levels in St. Louis, parts of Richmond,
and Dallas, where contacts reported the most favorable levels in five
years. However, heavy rains have necessitated the replanting of some
acres in the St. Louis, Minneapolis, and Chicago districts. Spring planting
was progressing ahead of the average pace in several districts, and
demand for agricultural products remains solid. Minneapolis, Kansas
City, Dallas, and San Francisco reported strong livestock prices. Dairy
prices have increased in San Francisco, and Minneapolis expects record
May milk prices in Wisconsin. Boosted in part by the weakened dollar,
exports have increased in the Dallas and San Francisco districts. Dallas
reported concerns about a possible negative impact of the preliminary
World Trade Organization rulings against cotton subsidies.
Natural Resource
Industries
Activity in the mining
and energy sectors remains strong in the Minneapolis district, where
oil and natural gas exploration and production increased slightly from
mid-April. In the Kansas City district the number of active oil and
gas drilling rigs rose slightly from the previous survey, but the expansion
was limited by rising equipment costs and shortages of labor. Nonetheless,
contacts in this district anticipate further increases in drilling,
given the high energy prices. Meanwhile, the Dallas district saw little
change in drilling activities, and its offshore activity remained weak.
Contacts in San Francisco have experienced an increased demand for crude
oil and natural gas and want to expand capacity, but are dealing with
constraints in obtaining raw materials. Minneapolis reported that the
iron ore shipping season was well under way.
Labor Markets, Wages,
and Prices
Most districts indicated
strengthening of labor markets. Boston, New York, Chicago, Minneapolis,
St. Louis, Kansas City, and San Francisco reported increasing employment,
plant expansions, and plant openings across several sectors, including
manufacturing, construction, freight transportation services, and healthcare
services. Richmond reported soft labor demand in the retail sector but
stronger demand for temporary production and distribution centers, administrative,
financial, and customer service workers in recent weeks. Manufacturing
employment in the district continued to expand. In Atlanta, small businesses
reported rising labor demand, as did firms in the construction, services,
and automotive parts manufacturing sectors; layoffs continued in the
apparel and industrial chemical sectors, however. Contacts in the Dallas
district reported continuing weakness in the labor market but indicated
that some firms were planning to hire new employees.
District reports
indicated little or muted upward pressures on wages, although the rising
cost of health insurance remained a key issue. The San Francisco and
Kansas City districts noted that sufficient labor availability was leading
to limited wage pressures. The New York and Dallas districts reported
little pressure on wages, while the Minneapolis and Boston districts
saw moderate increases in wages. The New York district noted scattered
reports that starting salaries were rising in some industries. In the
Boston district, contacts in the retail sector expect wages to increase.
Manufacturing firms kept the wage rates of new hires stable in the Cleveland
district. Contacts in the San Francisco and Dallas districts noted high
costs of health insurance. Contacts in the trucking and shipping sectors
in the Cleveland district also expressed concerns over health insurance
costs.
Consumer price increases
were generally modest, but most districts reported increasing input
prices, particularly of energy-related products, building materials,
and steel. Retail prices in the Boston, Philadelphia, and San Francisco
districts remained generally stable and increased modestly in the Kansas
City and Dallas district. Merchandise is being marked down less in the
Cleveland district. Meanwhile, merchants have seen increases in vendor
prices in the Cleveland and Philadelphia districts. In response to higher
input prices, some businesses were able to push up prices to their end
consumers in the Philadelphia, Cleveland, Atlanta, Chicago, Kansas City,
and Dallas districts.
Reports per Twelve
Federal Reserve Districts
Boston
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/1.htm
New York
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/2.htm
Philadelphia
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/3.htm
Cleveland
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/4.htm
Richmond
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/5.htm
Atlanta
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/6.htm
Chicago
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/7.htm
St. Louis
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/8.htm
Minneapolis
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/9.htm
Kansas City
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/10.htm
Dallas
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/11.htm
San Francisco
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/12.htm
Full Report including all 12 Districts
http://www.federalreserve.gov/FOMC/BeigeBook/2004/20040616/FullReport.htm
----------------------------------------------------------------------------------------------------------
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