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Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.

Monday, May 16, 2011

Today's Equipment Leasing Headlines

 Archives May 16, 2000--Resource America Announces
  It is Getting out of the Small Ticket Leasing business---
   Classified Ads---Sales Manager
    NFS Leasing Up-dated ---Funder 'A' List"
Get Linked In---
 by Christopher Menkin, Publisher
   Charlie Chan Saying----
Leasing 102 by Mr. Terry Winders, CLP
  FASB Leasing Changes will be good for Leasing
   The Main Reason to Lease
    11th Annual eWomen Network Int. Conference/Business Expo
  Top Stories May 9--May 13
     Five Worst Housing Markets
      The Alta Group/Invigors to Expand Global Consulting
       Baltimore, Maryland Adopt-a-Dog
News Briefs---
 Regional banks hoping for loan growth
  Third generation takes over Kitsap Bank chairmanship
   SunTrust’s TARP exit bolsters hopes
    Porsche's move revs up Atlanta's image

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

 James Durbin wows 30,000 in Santa Cruz
  You May have Missed--- 
   Sports Briefs
    California Nuts Briefs
     "Gimme that Wine"
       This Day in American History
         Daily Puzzle
            Weather, USA or specific area
             Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.


Archives May 16, 2000--Resource America Announces
It is Getting out of the Small Ticket Leasing business---

" Operations for the discontinued small ticket equipment leasing business resulted in an after tax loss of $157,000 and after tax income of $453,000 for the quarter and six months ended March 31, 2000 as compared to after tax income of $1.3 million and $1.5 million for the quarter and six months ended March 31,1999"

"-- On April 13, 2000, the Company announced that it had entered into a preliminary agreement to sell all of the stock of its wholly-owned subsidiary, Fidelity Leasing, Inc. ("FLI") to European American Bank for a combination of cash and notes, including the repayment of FLI inter-company debt to the Company.

Crit DeMent, president/COO (1996-2000) and Miles Herman, VP, of Fidelity Leasing remain with Resource America, and in 2001 DeMent becomes Chairman and CEO of LEAF Financial (a wholly-owned subsidiary of Resource America, Inc.)


Classified Ads---Sales Manager

(These ads are “free” to those seeking employment or looking

Bayville, NJ
Dedicated individual seeking a account management position, 3 years leasing experience and 15+ years sales experience. Resume furnished upon request,
email Frank at .

Fort Myers, Florida
Very experienced and strong skills with both Captive and Specialty Sales Management. Over 25 years , will relocate and travel---successful and team player.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:

Leasing News Help Wanted Ad Pricing

Help Wanted Web Ad New Programs

Classified Ad Section
(rotates chronological above headlines and
also appears in Classified Ad section.) *

15 days in a row:
$395 four lines (a space is a line)
($25 each additional line or space)

30 days in a row:
$595 four lines (a space is a line)
($40 each additional line or space)

Design work is free. Logo is free as well as company description not to exceed the number of lines of the ad.
Also free: click to a click to a web site or a full description of the position.

Ads are placed in the "Help Wanted' section by category, alphabetical, with the ad with the most lines first in the group. They appear on the web site and in each news edition at the top in a rotation basis per issue.

* Help Wanted” ads  appear in each issue on a chronological basis above the top headline as a courtesy. This position is not available as a paid position, but is generally on a rotation basis.  At the same time, the ad continues in the classified help wanted section in the news edition and web site, so in effect appears twice.

Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board


NFS Leasing Up-dated --- "Funder 'A' List"

In Business Since
Leasing Association
Business Reports
NFS Leasing, Inc.
Beverly, Massachusetts
Dean Oliver
NEFA (Footnote)
US and Canada
$50,000 to $3MM

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen

“NFS Leasing is a Technology Leasing Specialist which provides funding for B, C, and D and story credits. We make our own credit decisions, service the full lifecycle of transactions on our own balance sheet.

“We are fast, flexible, and easy to work with. IT & Computer Equipment, Medical, Scientific Equipment, & Office Equipment. We service Canada and the UK as well.”

Funders "A" List:

Story Credit List:


Get Linked In---
by Christopher Menkin, Publisher

The social media frenzy for business to get involved in “or else”---reminds me very much of the Y2K2 frenzy right before the turn of the century: everyone supposedly had to do something about it right away or the computer world as we knew it would come to an end. It was all hype! Just like your business must get aboard Twitter or Facebook or you will be left out! is a completely different concept for business, and should be seriously considered, in my opinion, for business use.

The social media sites should remain “social.”

While advertising and promotion of products, perhaps services, can be likened to what has made Google popular to business, the social media can be best seen as a television show with commercial popping up, often aimed at specific users; as Amazon was one of the first to define repeat users who came back to their web site. If you bought this before, you are interested in this, if you are a chess player or have a dog, you are interested in this. The advertising is specifically aimed at you and your interests. Google brought this to the browser wars.

The fact here is the “social” blogs are not “business” blogs.

First, Twitter, Facebook, and the many like them, have limited use as once you start popping your ad or press release on, the user then blocks you for life. It's like having the ability to turn off commercials of specific products on your television. They may advertise one time, but that's it! One of the advantages of many television recoding devices is often commercial are deleted so you can see a show in often in less than 40 minutes than 60 minutes.

Twitter and Facebook among others are first a social blog, a group of friends who share experiences, photographs, and often limit who can view what is posted. They also may be fans of a singer or entertainer or a product that they enjoy and want to be informed of the latest news---but most of it is personal---not business related. They would be classified as "consumers." They are excellent programs and growing worldwide---for “consumers” primarily. They may be for the use of followers of a product or singer or movie star, but it is “social.”

The difference is is designed primarily for businesses, meaning not just entrepreneurs, but those seeking information, products, services for their business, as well as those looking for a job or a better position than they presently have in employment. It is for "commercial" use.

If you will, look at one as "consumer loans" and "commercial loans." Quite different, and that is what offers.

The key is networking which is one of the main purposes of leasing associations, but here you don't have to get on an airplane, rent a hotel room, or even leave your house. You can join a group or groups or start your own and network---meaning if you are looking for information, want to share information, or promote your services, make friends, find customers, all you need to do is participate.

What makes it even more useful is like the "Six Degrees of Kevin Bacon." The concept rests of the assumption that any individual can be linked through his or her film roles to actor Kevin Bacon within six steps.

  • Elvis Presley was in Change of Habit (1969) with Edward Asner

  • Edward Asner was in JFK (1991) with Kevin Bacon

At, the connections are noted along with the relationship person, and become a reason to include a person in your network or join their network. In fact, it is actually even more sophisticated as you not only get this information, but can view their profile and other connections.

In the method you can do this for free or join any of the tiers, depending on your purpose. Remember, in any of these internet sites, and it goes back to AOL the first with chat rooms, blogs, even free web sites (all they had was dial-up and were one of the last to get into broadband, but that is another chapter.) The key point is the originator is the one in control of how they use their profile, their "page," or group or participation in group(s).

Many groups are wide open, many also want to qualify members who join, as well as many may also pre-screen discussions, meaning allow or not allow specific discussions, especially if unflattering.

You can join as many groups as who will have you. You can also leave them if you find them too full of "commercials" or a waste of time. You can set information for daily, weekly, or whatever time period you want as well as put other perimeters, including accepting people into your network or rejecting them.

Many of the groups are dominating by those who want broker, lessor, vendor business, or those with specific transactions where they are looking for help or a better rate of return. Of course, you don't know about either party until after the transaction takes place, although you can look at their web site, look for references, view their profile and thier references, as well as the people in their network.

If you have not joined, I recommend that you do, as it is "free." And don't forget to upload a photograph so people can see who you are!




Leasing 102
by Mr. Terry Winders, CLP

FASB Leasing Changes will be good for Leasing

For those who forgot what they learned in Leasing #101: “It is the use of equipment, not ownership” that is the fundamental reason to lease. This means the concept is not to own, but to be able to use, meaning the latest, most efficient, most productive, more profit making equipment. Possessing old, out of date, less efficient equipment is not the goal. Making a profit and controlling cash flow utilizing the best equipment available to do so is the goal, especially at the best monthly cash outgo as possible.

The idea behind this is not to own the laptop or computer in three or five years, or IPod 1 or IPhone model 1, or worn out copier, or out of date equipment. It is to put the user in the position of getting the latest model, up-to-date equipment, or letting the user decide when it is time to up-date or perhaps even purchase for the long term what they have been using. The idea is to be more competitive.

This concept of “use” rose above other issues, although included tax issues, cash flow, or cost of money, although all were important, including convenience. They certainly should be considered, but the goal was to be able to use the equipment rather than want to “own” it. No money down, lower payments, easier to acquire made leasing very popular. Cash Flow.

Even small ticket users of equipment might not want to keep the equipment after three years or five years of use, or even one year or two years, depending on how they budgeted their cash flow and the value of up-dating what they were leasing.

Perhaps the earliest use of this concept was leasing a car that you could return because you wanted a new one, or a large piece of equipment such as a mainframe computer or harvesting machine that you knew in three years there would be better, more efficient, and maybe even less cost cash flow as prices in certain fields went down, such as computers and laptops, just to name one, as the price or ram, storage, and speed seems to come down every three to six months.

So understanding this basic philosophy, the changes in lease accounting are going back to the fundamental. Those who realize this can take advantage of it. First will be the captive lessors and those who structure for the return of the equipment. But those who realize the changes can take advantage of them in the leasing models and sales presentations.

It appears that the GAAP rules will eliminate off balance sheet operating leases in the near future. That is with the exception of leases for 12 months or shorter. The current protest papers have objected to the crystal ball effect of requiring the present value of renewal options if there is any thought of accepting the option. While it is true that if they are compelled to renew then it should be included in the present value requirement at lease commencement. However they seem to be on the verge of eliminating the “what if” requirement. Therefore I suspect there will be 12 month leases with the following requirements:

Let’s say a typical true lease over 60 months on $100,000 with a 12% residual, one payment in advance, monthly payments in advance on a depreciation term class of 15.000, and a MISF yield of 10% would yield a payment of $1,887.80. The new GAAP rules would require this lease to be placed on the balance sheet for the present value of the rent stream, discounted at the lessee’s incremental borrowing rate.

To make this lease an “off balance” sheet lease the maximum term would have to be: 12 months---allowing the lessee to return the equipment. Therefore, the lessor would have to accept the risk that the sale of the equipment would not bring the remaining investment or unpaid balance. There are to pieces to this risk. The first is the tax effect that makes the recapture of federal income tax an “add on” to the payoff to come out whole or the dilemma of re-leasing the equipment to avoid the tax consequences but losing the protection of the “finance lease” provisions of Article 2A. The actual value of the re-lease may reduce the risk, but it requires additional costs and time to secure a new lessee. Also it would only work on assets that maintain their value over the life of the lease.

A possible solution to the short term risk of the difference between the stipulated loss value at the end of each 12 month term and the equipments wholesale value may be to implement some additional requirements:

First, a two month notice period of the lessee’s intention to release or return the equipment.

Second, a well written return requirement, and third a restocking fee, each year, equal to the difference between the stipulated value and the predicted wholesale value. This may be shored up by equipment repurchase agreements from manufacturers, distributors, or secondary market vendors.

The restocking fee would be considered additional rent if the equipment was returned but would be a non event if the lease was renewed for another 12 months.

If the restocking fee is not acceptable then the rent requirement would reflect the actual loss in value of the equipment each year. The first year you would subtract the predicted wholesale value one year out from the cost and create a rent to accomplish the reduction in value keeping in mind that the tax effect would require a higher payment to cover it at the end of the year. Then create the rent stream each year for the full five years. Again the notice period and the condition of the equipment upon return need to be included.

Clearly this type of structure becomes very difficult as you lease equipment that has a limited market or has its value decrease very rapidly. Equipment studies for return language and yearly values will add a new dimension for lessor’s to consider in the future.

It will be an interesting question on how a $1 lease is handled if it follows this same structure with a 12 month term offering renewals with a restocking fee or decreasing rents over the five year term as the loss in value slows down.

Solutions to these types of structures are always a part of being in this industry so put your thinking caps on and try to view how to approach the future. This is only one solution and it remains to be seen if the accounting rules will allow it to happen.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at or 502-649-0448

He invites your questions and queries.

Previous #102 Columns:

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)



The Main Reason to Lease




Top Stories May 9--May 13

Here are the top ten stories opened by readers:

(1) Evergreen Illegal in Which States?

(2) Nations Equipment Finance Joins “Funder ‘A’ List”
also "Funder Looking for New Broker Business List”

(3) Adrian Weber is Back!!! + Member ELFA

(4) Northwest Leasing Company joins Three Lists
“Funder”/”Looking for Broker”/”Story Credits”

(5) Shivers Secures $25 Million Line with Wells

(6) Leasing 102 by Mr. Terry Winders, CLP
Provisions left out of Lease Documents”

(7) Sales makes it Happen---by Christopher "Kit" Menkin
Getting Vendors by using the back door”

(8) Resource America/LEAF Financial---Trend Continues Down by Christopher Menkin

(Tie) (9) Little Known BK Code eliminates Second Mortgage liens

(Tie) (9) The Strange Case of Sheldon Player

(10) Navitas joins "Funder 'A' /Looking for Broker Lists


Five Worst Housing Markets

1. Gulfport-Biloxi, Mississippi
2011 Q1 Median home price $99,400
Down: 22.8%

2. Akron, Ohio
2011 Q1 Median home price: $74,000
Down: 21.4%

3. Salem, Oregon
2011 Q1 Median home price: $153,500
Down: 20.6%

4. Dayton, Ohio
2011 Q1 median home price: $78,000
Down: 20.3%

5. Cleveland-Elyria-Mentor, Ohio
2011 Q1 median home price: $87,000
Down: 19.7%

Gary DiLillo, President 216-658-5618 or

To learn more about the benefits of
outsourcing personal property tax, please click here.


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

The Alta Group and Invigors Form Invigors EMEA to Expand Global Consulting

RENO, NEVADA, -- The Alta Group and Invigors – premier providers of equipment leasing and asset finance advisory services – today announce that they have formed Invigors EMEA LLP as part of The Alta Group, a global consultancy.

Invigors EMEA combines the wide-ranging complementary skills and geographic coverage of the former businesses in Europe, the Middle East, and Africa, augmented by the powerful team of leading advisors that constitute Alta worldwide. This uniquely positions Invigors EMEA within the region and will strengthen the services that it offers to its clients and those of The Alta Group worldwide, which include many of the world’s leading lessors, asset finance companies, equipment manufacturers, vendors and service providers.

John Deanne

“The demand for global knowledge and resources has never been stronger in our industry,” said John Deane, the CEO and a principal founder of The Alta Group 20 years ago. He said many industry leaders are realizing that business models must change in order to foster growth, particularly after the deep recession, and meet the challenges of fast-changing technology and a new regulatory environment.

Invigors EMEA provides a broad and comprehensive array of strategic support services that include consulting; corporate restructuring; strategic marketing; research; legal support services; mergers and acquisitions; tax, regulatory and accounting services; business process re-engineering; sales performance management; learning and development; and vendor and captive programs.

Invigors EMEA has seven UK-based Partners - Chris Boobyer, Richard Guilbert, Malcolm Ogle, Mike Roberts, Richard Ryan, Marc Tendler and George Tonks, together with strong business relationships throughout EMEA, including Benelux, Central and Eastern Europe, France, Germany, Italy and Spain. It intends to increase its pan-European coverage in the near future.

Invigors EMEA comprises highly experienced, senior executives with many years of practical and strategic experience across the equipment leasing and asset finance spectrum and who are recognized as some of the most knowledgeable and thoughtful experts in the global industry.

This strategic step is further progress in the expansion of the global consultancy with local resources. All of Alta’s regions are closely aligned and are now coordinated by a worldwide Management Committee with members from the USA, Canada, China, EMEA and Latin America.

Chris Boobyer

Chris Boobyer and Malcolm Ogle, Invigors EMEA Partners, explained the rationale for the new partnership: “Many of us have had a competitive business relationship for a number of years and we are delighted to now have this opportunity to combine our knowledge and skills to enhance our portfolio of services to our many clients as part of The Alta Group, with its unique, specialist and global capabilities,” Boobyer said.

Malcolm Ogle

“We are optimistic about the industry’s future, both in EMEA and in the regions that The Alta Group serves,” Ogle added. “The Industry’s needs are changing and our strengthened presence in EMEA comes at the right time in this developing economic cycle. We are actively planning for the future and gearing up to provide the resources necessary for clients to achieve their local and international goals."

Questions and Answers

Q: What is the rationale for combining the businesses?
A: The Alta Group Ltd and Invigors LLP have wide-ranging complementary skills and geographic coverage and want to strengthen and expand the advisory and consulting services that they offer to their clients in the equipment leasing and asset finance industry.

Q: Why launch now?
A: There are real signs of optimism in some parts of the EMEA region and the industry is beginning to see some signs of economic recovery. The needs of our clients are changing and the new Invigors EMEA is positioning itself to support them as they start to plan and take advantage of the emerging opportunities.

Q: Why the choice of name?
A: Both Alta and Invigors are strong brands in the industry and this solution allows both names to continue and benefit from their heritage. Invigors will be the regional brand for EMEA and will identify itself as part of The Alta Group worldwide. Elsewhere, Alta will include the Invigors brand as its EMEA region.

Q: What is the structure of the business?
A: Invigors EMEA has seven UK-based Partners and existing business relationships in Benelux, Central and Eastern Europe, France, Germany, Italy and Spain. The business will expand further into other countries within EMEA when suitable resources and clients are identified.

The UK Partners are: Chris Boobyer, Richard Guilbert, Malcolm Ogle, Mike Roberts, Richard Ryan, Marc Tendler and George Tonks.

Q: How can two businesses which were previously major competitors now work together?
A: Whilst the two businesses have been competing for a number of years, the respective Partners and Principals have always had respect for each other’s skills and experience. This new business will therefore bring together a number of complementary skill sets and experience to provide a full array of services to its combined EMEA customer base.

Q: How does it fit with other Alta regions?
A: This strategic step for both parties is further progress in the expansion of a global consultancy with local reach. All of Alta’s regions are closely aligned and are to be coordinated by a worldwide Management Committee involving members from the USA, Canada, China, EMEA and Latin America.

Q: What advisory services are offered by the business?
A: Invigors EMEA LLP provides key support in the following areas of expertise throughout Europe, the Middle East and Africa:

• Consulting
• Corporate Restructuring
• Strategic Marketing
• Research
• Legal Support Services
• Mergers and Acquisitions
• Tax, Regulatory and Accounting Services
• Business Process Re-engineering
• Sales Performance Management
• Learning and Development
• Vendor and Captive Programmes.

However, the depth and detail of its expert knowledge goes far beyond these headlines and this geographical scope. With the support of the powerful Alta global team of leading advisors, Invigors EMEA is ideally positioned to provide the advisory and consultancy resources necessary to meet local and international challenges today and in the future.

Q: Is the business planning to grow?
A: Yes, it will be actively expanding its pan-European reach to support an expanding client base.

Q: Is there a Chairman, Managing Partner or spokesperson?
A: All seven UK Partners have equal status and are all available to speak on behalf of Invigors EMEA. That said, the EMEA executive will be chaired by Chris Boobyer who will be joined on the Alta worldwide Management Committee by Malcolm Ogle and Richard Guilbert.

Alta Spokespersons Worldwide are:

North America: John Deane
Europe: Chris Boobyer, Malcolm Ogle, Richard Guilbert
Canada: Hugh Swandel
Latin America: Rafael Castillo-Triana
China: Jonathan Fales

Q: When was this combined business structure officially launched?
16 May, 2011

For more information please visit:

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


Baltimore, Maryland-- Adopt-a-Dog

Susie Q

Animal ID: 61173
Breed: Shepherd Cross
Sex: Female
Color: Brown
Spayed: Yes
Age: Juvenile (6 months)
My health has been checked.
M y vaccinations are up to date.
My worming is up to date.

Please take note of the Animal ID before contacting us.

I am at the Baltimore location.
You can contact me by

Phone 410-235-8826
Address 3300 Falls Road Baltimore, MD 21211

Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet

John Kenny Receivables Management

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs
John Kenny
315-866-1167 |

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

--- News Briefs

Regional banks hoping for loan growth

Third generation takes over Kitsap Bank chairmanship

SunTrust’s TARP exit bolsters hopes

Porsche's move revs up Atlanta's image

You May Have Missed---

James Durbin wows 30,000 in Santa Cruz

Sports Briefs----

A Sports Executive Leaves the Safety of His Shadow Life

NBA Eastern Conference finals: Bulls cool off Heat in Game 1,0,6693622.story

Sharks fall 3-2 to Canucks

California Nuts Briefs---

Bay to Breakers Photos:

Silicon Valley Residents delaying retirement, major purchases

“Gimme that Wine”

Vines and Valleys in Oregon

US becomes Canada's third-largest supplier

New Napa Valley tourism book published

Drinks giants in $1.9m fines for "slotting fee" violations in Las Vegas

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in American History

     1775-The first constitution adopted by a state was that of Massachusetts by the Provincial congress of Massachusetts. the motto of the state was Ense Petit placidam sub libertate quietem ( “with the sword she seeks peace under liberty.”) The constitution was temporary. A new one was framed in Boston on September 1,1779, and was completed on March 2, 1780, and ratified by a two thirds vote. John Hancock served as the first governor under the permanent constitution.
    1777-birthday of Button Gwinnett, signer of the Declaration of Independence, born at Down Hatherly, Gloucestershire, England, about 1735 ( exact date unknown). Died following a duel at St. Catherine’s island, off of Savannah, GA.
    1804-birthday of Elizabeth Palmer Peabody, born at Billerica, MA. Peabody opened a bookstore that quickly became the intellectuals’ hangout. With her own printing press, Peabody became the first woman publisher of Boston and possibly the US. She published three of her brother-in-law Nathaniel Hawthorne’s books. For two years, she published and wrote for The Dial, the literary magazine and voice of the Transcendental movement. Peabody’s enduring accomplishment was the establishment of the first kindergarten in the US, in 1860, at Boston. She created a magazine, Kindergarten Messenger, in 1873.Died January 3, 1894, at Jamaica Plain, MA.
    1862-,General Benjamin Butler, military governor of New Orleans, issued what became known as the “Woman Order.” The text of General Order Number 28 read, in part, ‘As the officers and soldiers of the United States have been subjected to repeated insults from women (calling themselves ladies) of New Orleans.
• . when any female shall . . . show contempt for the United States, she shall be regarded as a woman of the town plying her avocation.” This order typified Butler’s attitude toward the captured city and its populace and, along with other controversial acts, set the stage for his dismissal as military governor in December of 1862. It was not uncommon for a stupid, rude person to be called a Benjamin Butler in New Orleans He was also known as “Spoons,” for reportedly stealing silver from estates in the area. He was also known as “Beast.” Jefferson Davis branded him an “outlaw” and put a bounty on his head. He then botched up his next assignment and resigned to run for Congress and was elected five times, serving once as Governor of Massachusetts.
    1836 -- Edgar Allan Poe marries Virginia Clemm, his 13-year-old tubercular cousin.
(Possibly secretly married previously, on September 22, 1835.)
    1863- After a standoff of nearly a year around the strategic Mississippi River city of Vicksburg, MS, Union forces under Ulysses S. Grant defeated Southern forces under General John Pemberton at Champion’s Hill, MS. on this date. Pemberton’s forces withdrew into Vicksburg, and the siege of Vicksburg began. Gettysburg was only a few months away.
    1866-Issuance of the nickel, a new five-cent coin, was authorized by Congress. It was minted of copper and nickel with not more than 25% nickel.
    1868- the U.S. Senate failed by just one vote to convict President Andrew Johnson of "high crimes and misdemeanors," as he was charged under the articles of impeachment. A second vote, taken on May 26, also fell short, by just one vote, of the two-thirds majority required to convict the president.
( lower half of
    1874 -the mill creek disaster occurred west of Northampton, Massachusetts when dam slippage after rain caused a flash flood with the loss of 143 lives. Total damage was about one million
    1888-Emile Berliner of Washington ,DC. first publicly demonstrated before the Franklin Institute in Philadelphia, PA the first modern disk he called a “phonograph.” Berliner’s “Gramophone” record was a flat disk in which the grooves were cut in a lateral spiral, making it much easier to duplicate for the mass market than Edison’s recording cylinder.
    1891- George A Hormel & Company introduce Spam.
    1893-Herman L. Wagner of Brooklyn, NY obtained a patent on a typewriter, which produced a line of writing visible as it was being type. This machine went through an experimental period with the Wagner Typewriter Company and then was sold to John T. Underwood, who had been associated with Wagner’s father in the ribbon and carbon business of John Underwood and Company. The Underwood Typewriter Company, incorporated in March 1895, undertook the manufacture of Wagner’s machine in New York City.
    1913—Birthday of Woody Herman Birthday, born Milwaukee, WI.
He had joined Isham Jones' band in 1934 and took over that orchestra two years later when Jones retired because of ill health. The band became the first Woody Herman Herd, and was known as "The Band That Plays the Blues." The band's fortunes began to grow following the release of their recording of "Woodchopper's Ball" in 1939. By the following year, the Woody Herman band was beginning to score in the popularity polls. Herman changed the direction of his band in the mid-1940's - it's music became louder and more and more dependent on a screaming brass section. The change found favor with the public - the Herman Herd was number one in polls conducted by national music magazines. Woody Herman continued to lead a big band long after the swing era ended. In the 1960's, the band moved in a jazz-rock direction, but in the following decade moved to a more pure jazz style. Herman died in Los Angeles of congestive heart failure on October 29th, 1987.
    1914-The Grand League of the American Horseshoe Pitchers Association was formed. The league set its first championship for October 23, 1915, at Kellerton, IA.
    1919-pianist Liberace, whose full name was Wladziu (VLA'-JAH) Valentino Liberace, was born in West Milwaukee, Wisconsin. His overly sentimental pop tunes and frilly, condensed versions of the classics built him into one of the hottest show business personalities in the 1950's. Liberace's trademarks included candelabra on the piano and outlandish costumes that weren't matched until some of the rock groups of the '70s came along. His audience consisted mainly of middle-aged women, some of whom behaved much as rock groupies did a decade later. Liberace died on February 4th, 1987 from conditions related to AIDS.
    1924 - The temperature at Blitzen, Oregon soared to 108 degrees to establish a state record for the month of May. The record was later tied at Pelton Dam on May 31, 1986.
    1928-birhday of Billy Martin, baseball player and manager born at Berkeley, CA. Billy Martin’s baseball career included managerial stints with five major league teams, the New York Yankees, Minnesota Twins, Detroit Tigers, Texas Rangers and the Oakland Athletics. After a successful playing career, he compiled a record of 1,258 victories to 1,018 losses in his 16 seasons as manager. His combative style both on and off the field kept him in the headlines, and he will long be remembered for his on-again/off-again relationship with Yankees’ owner George Steinbrenner, for whom he managed the Yankees five different times. Martin died in an auto accident near Fenton, NY, Dec 25, 1989.
    1929-about 270 people attended a dinner at the Hollywood Roosevelt Hotel in Los Angeles. at which the first Academy Awards was given in 12 categories. It was hosted by Douglas Fairbanks, Sr and Cecil B. De Mille. The silent film Wings won Best Picture. (The statuette we know so well as Oscar was not included in this first presentation for films made in 1927-1928. Oscar didn’t make an appearance until 1931.) Janet Gaynor was named Best Actress for her performance in "Seventh Heaven", which also won the Best Director/Dramatic Picture for Frank Borzage, and the Best Writing/Adaptation for Benjamin Glazer. Lewis Milestone was named Best Director/Comedy Picture for "Two Arabian Knights". Emil Jannings received two Best Actor awards, one for the 1927 ,"The Way of All Flesh", the other for "The Last Command" (1928) . A second Best Film award was presented to "Sunrise" for Unique and Artistic Production. It also won for Best Cinematography (Charles Rosher and Karl Struss). A committee of only 20 members selected the winners that year. The first included 1927-28 awards plus some 1928 again and 1929, which also was splint into 1930. By the third year, the entire membership of the Academy voted. The Academy Awards were first televised in 1953.
    1929- singer Betty Carter birthday. Died September 26, 1998
    1930—birthday of singer Betty Carter ( Lillie Mae Jones), Flint, MI Died Sept. 26, 1998.
    1937-Dizzy Gillespie records first solo with Teddy Hill’s band on King Porter Stomp, NYC ( Bluebird B-69888)
    1943- a major turning point of World War II occurred when the Royal Air Force Lancasters began bombing three dams in the Germany Ruhr Valley. This lasted two days and was the start of the strategic bombing effort to end the war. They dropped 4.5 ton bombs designed specifically for this mission. The Mohne and the Eder ( the largest dams in Europe a the time) were both damaged. These two dams provided drinking water for four million people and supplied 75 percent of the electrical power for industry. Widespread flooding and many deaths resulted. The planned raid also greatly affect military production. It began the assault on Germany, who's population until this time was not affected as France, England, Russia and other countries were experiencing from the Nazi's.
    1946 - The Irving Berlin musical, "Annie Get Your Gun", opened at New York’s Imperial Theatre. Once of the most successful shows presented on a Broadway stage, the show ran for 1,147 performances.
    1947- Barbara Lee of the Chiffons was born in New York City. The group had several hits in the early 1960's, including "He's So Fine," which went to number one in 1963.
    1952—Top Hits
Blue Tango - The Leroy Anderson Orchestra
Kiss of Fire - Georgia Gibbs
Blacksmith Blues - Ella Mae Morse
The Wild Side of Life - Hank Thompson
    1953 - Bill Haley and His Comets made it to the "Billboard" music charts for the first time with "Crazy Man Crazy". The tune went to number six and became the first rock ’n’ roll record to make the pop music chart.
    1959-Sam Snead shot an 11-under-par round of 59 at The Greenbrier in White Sulphur Springs, WV. He became the first golfer to break 60 for 18 holes in a major tournament( 31 out, 28 coming home), 11 strokes under par, in the third round of the Sam Snead Festival Golf Tournament. He had a score of 196 for 54 holes and won $4,500. The tournament was originally named the Greenbrier Open.
    1959 - No. 1 Billboard Pop Hit: "Kansas City," Wilbert Harrison. The song debuts at No. 100 on the Hot 100.
    1960—Top Hits
Stuck on You - Elvis Presley
Cathy’s Clown - The Everly Brothers
Night - Jackie Wilson
Please Help Me, I’m Falling - Hank Lockin
    1960-Billboard reports Berry Gordy Jr, a songwriter and publisher in Detroit, is working on his own record label after succesfully producing a bunch of hit records.
    1963 - Ray Charles' "I Can't Stop Loving You" wins Grammy as best R&B recording.
    1964---21 year old Mary Wells led the Billboard Pop chart with the Smokey Robinson written "My Guy". The record was Wells' 9th Top 40 entry and would prove to be her highest charting US single.
    1965 - "The Roar of the Greasepaint, The Smell of the Crowd", a Broadway musical starring Anthony Newley, made its premiere at the Shubert Theatre in New York City. Cyril Ritchard appeared in the production which entertained audiences for 231 performances.
    1965-The Rolling Stones appear with Chuck Berry on the television show "Hollywood A-GO-GO." The Stones, trying to drive off in a Limo after the show, are attacked by a mob of fans.
    1965-The Beach Boys appear on the "The Ed Sullivan Show" performing their latest hit, "Help Me Rhonda."
    1966--Frank Sinatra records "Summer Winds"
    1966- the Beach Boys album "Pet Sounds" was released. Although it only barely made the top 10, the album has since become regarded as a classic and the Beach Boys' best. "Pet Sounds" is gaining new fans through its 1990 release on CD.
    1966-. Janet Jackson is born in Gary, Ind., the youngest of the Jackson family. She is married briefly in 1984 to James DeBarge of DeBarge. She signs a $32 million contract with Virgin Records in 1991.
    1968—Top Hits
Honey - Bobby Goldsboro
Tighten Up - Archie Bell & The Drells
The Good, the Bad and the Ugly - Hugo Montenegro
Have a Little Faith - David Houston
    1971 - An ounce of first-class mail rocketed to eight cents for delivery -- two cents more than the previous stamp
    1972-Goal posts offset from the goal line, pained bright yellow, and with uprights 20 feet above the crossbar were made standard in the NFL.
    1976—Top Hits
Boogie Fever - Sylvers
Silly Love Songs - Wings
Fooled Around and Fell in Love - Elvin Bishop
What Goes on When the Sun Goes Down - Ronnie Milsap
    1980- Dr. George C. Nichopoulous, known to his patients as Dr. Nick, was indicted in Memphis on 14 counts of illegally prescribing drugs to Elvis Presley, Jerry Lee Lewis and others.
    1981 - "Bette Davis Eyes", by Kim Carnes, climbed to the top spot of the pop music chart and stayed there for five straight weeks, took a week off (replaced by "Stars on 45 Medley" by Stars on 45) and came back to number one for four more weeks! It was, obviously, a gold record winner and was played over and over and over for 20 weeks before becoming an instant oldie but goodie. "Bette Davis Eyes", incidentally, was written in part by Jackie DeShannon, who had two top ten hits in the 1960s: "What the World Needs Now is Love" in 1965 and the million-seller, "Put a Little Love in Your Heart", in 1969. 1985 - Michael ‘Air’ Jordan was named Rookie of the Year in the National Basketball Association. Jordan of the Chicago Bulls was the number three draft choice. At the time, he was third in league scoring with a 28.2 average and fourth in steals with 2.39 per game.
    1984—Top Hits
Hello - Lionel Richie
Hold Me Now - The Thompson Twins
Let’s Hear It for the Boy - Deniece Williams
To All the Girls I’ve Loved Before - Julio Iglesias & Willie Nelson
    1986—The move "Top Gun" premieres.
    1990 - Thunderstorms produced severe weather from eastern Oklahoma and northeastern Texas to the Upper Ohio Valley. Thunderstorms spawned seventeen tornadoes, including a twister which killed one person and injured another north of Corning, AR. There were 128 reports of large hail or damaging winds. Strong thunderstorm winds killed one person and injured six others at Folsomville, IN, and injured another five persons in southeastern Hardin County KY. In Arkansas, baseball size hail was reported near Fouke and near El Dorado.
    1993—Top Hits
That s The Way Love Goes- Janet Jackson
Freak Me- Silk
Love Is (From "Beverly Hills, 90210")- Vanessa Williams/Brian McKnight
    1999-Mia Hamm, the most recognized female soccer player in the world, she broke the all-time international scoring record, for men and women against Brazil in Orlando, Fla. with her 108th career goal.
    2002-Top Hits
Foolish- Ashanti
What's Luv?- Fat Joe Featuring Ashanti
I Need A Girl (Part One)- P. Diddy Featuring Usher & Loon
U Don't Have To Call- Usher
    2006-- After drawing a warning from home plate umpire Joe West for throwing a ball behind Barry Bonds, Astros hurler Russ Springer strikes the Giants slugger on the shoulder with the fifth pitch of the at-bat. This incident will cost the 37-year old right-handed reliever 4 games as he will be suspended by MLB for his action against the San Francisco superstar, who needs just one home run to equal Babe Ruth's career home run mark.

NBA Finals Champions This Date

    1980 Los Angeles Lakers

Stanley Cup Champions This Date

    1976 Montreal Canadiens
    1982 New York Islanders





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