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Friday, May 5, 2023


Today's Leasing News Headlines

Miss The Good Old Days When “The Only Thing
  We Have to Fear is Fear Itself.”
    By Christopher Menkin, Editor/Publisher
New Hires/Promotions in the Leasing Business
    and Related Industries
Why You Should Hire Athletes
    Ultimate Hire by Ken Lubin, ZRG Partners
The Leasing and Finance Industry Help Wanted
    We Are Growing Our Senior Sales Team Now!
Fast Turnaround Time
    Sales Makes it Happen by Steve Chriest
Disinflation Yes, Deflation No
    Inflation vs CPI (chart)
The Complaint Process for Leasing
  and Finance Associations
    AACFB, CLFP, ELFA, NEFA
Harry Bellefonte (1927 - 2023) Carmen Jones
  Odds Against Tomorrow, Kansas City
   Uptown Saturday Night, BlacKKKlansman
    Reviews by Fernando Croce
Mixed Breed
    West Chester, Brandywine, Pennsylvania
In-Person & Virtual (both open to non-members)
  ELFA Legal Forum May 7 - May 9, 2023
    Marriot Sanibel Harbour & Spa, Fort Myers, Florida
News Briefs ---
United to hire 15,000 workers,
     with focus on Chicago
Burger King Cracking Down on Underperforming Franchisees
    300-400 U.S. restaurants will close in 2023
Comerica Bank Named U.S. Small Business Administration
     Michigan District Lender of the Year
Shell Reports $9.6 Billion Profit,
     Despite Falling Oil Prices
Remote work is straining public transit
    — and many agencies are stuck
Constructions layoffs reach highest level
    since early in the pandemic

You May Have Missed ---
More regional bank stocks slide,
    but deposits aren’t fleeing

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
Sales Make It Happen

Sports Briefs
   California News
    "Gimme that Wine"
 This Day in History
  SuDoku
   Daily Puzzle
    GasBuddy
     Weather, USA or specific area
      Traffic Live----
       Wordle

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


[headlines]
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Miss The Good Old Days When the "Only Thing
We Have to Fear is Fear Itself"
By Christopher Menkin, Editor/Publisher

Leasing News has been keeping track of FDIC Bank Failures since September 2008. In 2019 and 2020 the failures diminished, so we stopped reporting on the Federal Reserve Official Notifications. From 2008 to 2015, more than 500 federally insured banks failed. Readers can see going back several years, that the bank failures have been reduced. (1)

Most of the causes were incompetent boards of directors, as well as executive officers taking care of their friends and special accounts. There were also bank frauds by officers.

It should be noted the FDIC completely resolved these failures according to their FDIC regulations, with funds from the FDIC insurance as well as settling both assets and debts.  


New York Times

The New York Times reported "from 2008 to 2015, more than 500 federally insured banks failed.

"Most were small or midsize regional banks and were absorbed into other institutions, a common outcome for banks that have been put under government control. Washington Mutual, which was heavily involved in risky mortgages and became the largest bank to fail in U.S. history, was sold to JPMorgan Chase." (2)

First Republic Bank was involved in large real estate mortgages with interest only payments to new wealth from the internet and related new companies. Signature Bank fell in similar categories and Silicon Valley Bank fell into the same categories. Many established business leaders and executives in Silicon Valley, as well as from South San Francisco through Santa Clara and surrounding counties, were well aware of the condition. I can personally testify to this. It was common, they were Swingers.

Perhaps added to these three bank failures to date is the growth of the internet, and such programs as Twitter, Facebook, Tik-Tok, Whatsapp, and other instanteous, convenient communications that fed panic much quicker than in 1933.

In the course of the growth of the United States there are been periods of recessions and depressions in all the centuries since our founding. Today we have wide discourse, guns killing all ages, robberies galore closing retail stores, Ukraine-Russia and its threats along with China and North Korea, and the list of hate grows. Oh, for the good old days when the only thing we have to fear is fear itself.

(1) Bank Beat
https://leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

(2) 3 Failed Banks This Year Were Bigger Than 25
That Crumbled in 2008
https://www.nytimes.com/interactive/2023/business/bank-failures-svb-first-republic-signature.html

[headlines]
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New Hires/Promotions in the Leasing Business
and Related Industries


Michael Luke was hard as Vice President of Syndications, SLR Equipment Finance, Wilton Connecticut. He is located in Greenwich, Connecticut. Previously, he was Territory Manager, Signature Financial (September, 2020 - April,2023); Vice President and Managing Director, Sterling National Bank (March, 2020 - September, 2020); Northeast Territory Manager and Executive Director, Chase Equipment Finance, JP Morgan chase (July 2011 - March, 2020); Vice President, Northeast Region, Key Equipment Finance (January, 1997 - July, 2011); District Manger, US Leasing/USL Capital (1994 - 1997).
https://www.linkedin.com/in/michael-j-luke/


Joseph Suriano was hired as Vice President, Vendor Financial Services Canada, RCAP Leasing, Canada. He is located in Burlington, Ontario, Canada. He joined RBC April, 2014, Equipment Finance Specialist promoted March, 2019 Commercial Account Manager, Healthcare Professionals, promoted National Enablement Coach, National Specialized Solutions (November, 2021 - May, 2023). Full Bio:
https://www.linkedin.com/in/joseph-suriano-0191649/details/experience/
https://www.linkedin.com/in/joseph-suriano-0191649/


Melissa (Loehndorf) Woltz was promoted to Vice President, Third Party Originations, Dext Capital, Lake Oswego, Oregon. She is located in the Waterloo-Cedar Falls Area. She joined Dext January, 2019, Sales Relationship Manager. Previously, she was Territory Account Manager, TCF Equipment Finance (January, 2013 - December, 2018). Full Bio:
https://www.linkedin.com/in/melissa-woltz-04aa37142/details/experience/
https://www.linkedin.com/in/melissa-woltz-04aa37142/


Kevin Trabaris now a Partner, Edwards Maxon Mago & Macaulay, LLP, a NAMWOLF Membe Law Firm, Greater Chicago Area. He is located in Glencoe, Illinois. Previusly, he was Partner and Chair, Banking and Financial Insitutions Practice Group, Culhane Meadows PLLC (June, 2017 - May, 2023); Partner, Latimer LeVay Fyock, LLC (February, 2015 - June, 2017); Principal, Travris, P.C. (2011 - 2015).Full Bio:
https://www.linkedin.com/in/kevin-trabaris-0b74548/details/experience/
https://www.linkedin.com/in/kevin-trabaris-0b74548/

[headlines]
--------------------------------------------------------------

Leasing and Finance Industry Help Wanted
Highly Trained Operation Staff/Work from Home
Excellent Compensation/Marketing Support


[headlines]
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Why You Should Hire Athletes

The Ultimate Hire by Ken Lubin, ZRG Partners

Athletes are some of the most driven, dedicated, and disciplined individuals out there. They have spent years training their bodies and minds to perform at the highest level, often in highly competitive environments. These traits make them highly desirable employees for any organization. Here are just a few reasons why you should consider hiring athletes for your team:

1. They have a strong work ethic.

Athletes are used to putting in long hours of training and practice, often sacrificing social lives and other activities to achieve their goals. This work ethic translates well into the workplace, where they are likely to be committed to their job and willing to put in extra effort to ensure success.

2. They are team players.

Athletes are used to working with others towards a common goal. They understand the importance of communication, cooperation, and supporting their teammates. This makes them valuable assets in any workplace where collaboration and teamwork are essential.

3. They are adaptable and resilient.

Athletes are used to dealing with adversity and setbacks. They have learned to overcome injuries, losses, and other obstacles in their athletic careers. This resilience makes them well-suited for the fast-paced, constantly changing world of business, where adaptability is key to success.

4. They understand the importance of goal-setting.

Athletes are driven by the pursuit of goals. They know how to set targets and work towards them systematically, often breaking down larger goals into smaller, achievable milestones. This skill is highly valuable in the workplace, where employees who are focused on achieving results are more likely to succeed.

5. They are competitive.

Athletes are naturally competitive individuals who are used to performing under pressure. They thrive in challenging environments and are motivated by the desire to win. This competitiveness can translate well into the workplace, where it can drive innovation and improve performance.

Overall, hiring athletes can bring a range of valuable skills and qualities to your organization. Their work ethic, teamwork, resilience, goal-setting abilities, and competitiveness can all contribute to the success of your team. So the next time you are looking to hire, consider giving an athlete a chance to shine in the business world.


Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
https://www.linkedin.com/in/klubin/

"What is the Ultimate Hire? The Ultimate Hire is the professional that every business, team or leader needs in their organization. This is the high performance individual that always rises to the top, brings the team to the next level and can significantly add to the bottom line. The Ultimate Hire is the person that you can't afford to be without. Finding, Attracting, Hiring and Retaining these professionals is critical to the success of your business. We have identified these traits and can help you find these top professionals.

The Ultimate Hire Collections:
http://leasingnews.org/Conscious-Top%20Stories/ultimate.html


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Fast Turnaround Time


Sales Makes it Happen by Steve Chriest

If you want to avoid the label of a “me-too” player in your industry, you will want to identify your company's Exclusive Strengths.

Because some customers use your services, you have, at least in their eyes, Exclusive Strengths. These are strengths that are exclusive to your company, are recognized as exclusive by your customers, and for which you have earned bragging rights. Exclusive Strengths can only be claimed by you - they cannot also be claimed by any of your competitors.

In the equipment finance business, the claim of “fast credit turnaround time” can be claimed by so many competitors that the claim isn't even a strength today, it's a requirement for staying in business! The same is true for a claim that your company's people truly care about their customers.

You can bet that your competitors are making the same claim to their customers.

So, how do you go about identifying Exclusive Strengths? The process is relatively simple, and deceptively powerful. First, conduct a brainstorming session with everyone involved in the company's revenue generating process. You can do this in an office setting or at a retreat. Ask the participants to answer these questions: What do we have that our competitors cannot offer or what do we do that our competitors don't do? Once answers to these questions are developed into a list, the qualification process begins.

To qualify as an Exclusive Strength, what you have or what you do must be something your customers care about. For example, if you truly have a system of credit and collection activities that allow you to approve and fund more “D” credits than any industry competitor in a geographical area, and your customers care about this ability, it begins to qualify as an Exclusive Strength. If you can prove your claim to your customers, it will then pass the final test and will qualify as an Exclusive Strength for your company. It's important to note that your claim is an Exclusive Strength only for those customers who are “D” credits or those who provide goods or services to “D” credit customers. “A” credit customers, or those who sell exclusively to “A” credit customers, may have no interest in your sub-prime funding capabilities. In these cases your ability is not seen as an Exclusive Strength because they don't care!

Another, almost failsafe approach to zeroing in on your Exclusive Strengths is to ask your customers! Instead of sending out surveys which ask your customers how you can improve your services, ask them, in person, the following, simple questions: “Why do you do business with us? What do we have or does that distinguish us, in your eyes, from our competitors?” They will tell you how they see you as different from your competitors, and they'll let you know what else they want from you to remain loyal customers.

Steve Chriest
800-570-7145
schriest@sbcglobal.net
http://www.openadvance.com


[headlines]
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When the latest reading of the Consumer Price Index showed that inflation had cooled to the lowest level since May 2021, some people probably thought: “Great, inflation is cooling. Now when will prices be back to normal?” Unfortunately, it's not as simple as that.

Whenever we're discussing inflation coming down, it’s important to distinguish between disinflation and deflation. What we’re currently seeing is disinflation, i.e. a deceleration of price increases (yes, increases). For the overall price level to actually come down, the inflation rate would have to drop below zero, which would signify deflation. While the Fed desperately wants inflation to come back down, it is aiming for 2 percent inflation, not deflation, because the latter creates a whole set of problems on its own.

As the following chart shows, the rate of inflation (yellow line) has come down quite a bit from its June 2022 peak. Consumer prices (blue line) continue to climb, however. So while some prices will certainly come back down from their peaks as supply chain disruptions and global crises recede, the overall price level will remain elevated and us mere mortals are left with hoping for wages to eventually catch up.

[headlines]
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The Complaint Process for Leasing and Finance Associations
AACFB, CLFP, ELFA, NEFA

The Leasing and Finance Associations have procedures to consider complaints about its members, often to resolve an issue or take other action.  

Code Of Ethics and Complaint Procedures:
https://leasingnews.org/PDF/ethics_complaint_procedure.pdf

CLFP Complaint Procedure
https://leasingnews.org/PDF/CLFP_Complaint_Procedure.pdf

Official Procedure:
https://www.elfaonline.org/about/principles-of-fair-business-practices/view-elfa's-code-of-fair-business-practices

NEFA Dispute Resolution Producer:
http://www.leasingnews.org/PDF/NEFAStandardsCommittee2017.pdf

 

[headlines]
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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

A singer with almost 30 albums and a vital activist during the Civil Rights movement, Harry Belafonte (1927-2023) also established himself as an actor over the decades. So check out our list for his best screen roles.

Carmen Jones (1954): Georges Bizet’s classic opera gets a splashy update in this CinemaScope musical, with Otto Preminger (“Laura”) directing an all African-American cast. Set in the American South during World War Two, the film stars Belafonte as Joe, an Army corporal who’s assigned to bring the tempestuous Carmen (Dorothy Dandridge, in an Oscar-nominated performance) as a prisoner to the authorities. Instead, he falls head over heels in love with the fickle spitfire, leaving his fiancée (Olga James) and becoming a fugitive from the military. As Carmen’s attention begins to wonder, Joe’s obsession becomes all-consuming. Working from anOscar Hammerstein II libretto, Preminger stages drama and music with equal excitement. The cast includes Diahann Carroll, Brock Peters, and Pearl Bailey, whose number “Beat Out That Rhythm on a Drum” is a show-stopper.

Odds Against Tomorrow (1959): A tough noirthriller from Oscar-winning director Robert Wise (“West Side Story”), this suspenseful heist drama pits Belafonte against the great Robert Ryan. David Burke (Ed Begley) is a disgraced former policeman who, in dire need of money, plans a bank robbery. He recruits Earl Slater (Ryan), an ex-con and gambler, and Johnny Ingram (Belafonte), a nightclub musician, as accomplices. A bigot who almost quits the job because Johnny is black, Earl brings extra tension to an already dangerous situation. When the crime goes awry, the mismatched robbers must stick together to evade the police. Dealing with race, greed, and the destructive urges of men, the film captures the characters’ desperate actionswith a jazzy, geometric force reminiscent of Stanley Kubrick’s similar underworld classic “The Killing.”

Uptown Saturday Night (1974): Belafonte revealed a marvelous comic side working with Sidney Poitier in the Seventies, and in this enjoyablecomedy he offers a riotous lampoonof Marlon Brando’s indelible “Godfather” persona. Poitier (who also directed the film) plays Steve Jackson, a steel-mill worker who, with his married life and steady demeanor, is the opposite of his best friend, the impulsive Wardell Franklin (Bill Cosby). Their breezy Saturday night takes a sharp turn when they’re held up by robbers, and realize that the lottery ticket in Steve’s stolen wallet is worth a fortune. Locatingthe missing ticket requires the help of gangster honchoGeechie Dan (Belafonte), who uses the opportunity to defeat his rival, Silky Slim (Calvin Lockhart). Keep an eye out for a young Richard Pryor.

Kansas City (1996): Belafonte delivered arguably his richest performance in this moody, unfairly overlooked, Depression-era drama from the legendary Robert Altman (“Nashville”). He plays gangland capo “Seldom Seen,” who lords over a Kansas City jazz club and captures Johnny O’Hara (Dermot Mulroney), a petty thief who tried to rip him off. Johnny’s wife, Blondie (Jennifer Jason Leigh), tries to help her husband by kidnapping Carolyn (Miranda Richardson), the wife of a local politician. Hoping to force him to use his influence to release her husband, Blondie instead finds herself forming a prickly bond with Carolyn. Intercut with the main story are political machinations on election night, and exceptional period jazz performances. Though not as well-remembered as other titles in Altman’s Nineties renaissance, this is an offbeat, flavorful, thoroughly rewarding film.

BlacKkKlansman (2018): Perennial maverick Spike Lee (“Do the Right Thing”) won an Oscar for Best Adapted Screenplay for this timely and darkly satirical blast. Set in the 1970s, the story follows Ron Stallworth (John David Washington), who’s determined to make the most of his position as the first Black detective in the Colorado Springs police department. He teams up with a fellow investigator (Adam Driver) to embark on a dangerous undercover mission: Infiltrating the local chapter of the Ku Klux Klan, standing side by side with a pack of volatile racists. Combining funky style and humor with disturbing social commentary, Lee’s film is an attack on the absurd and deadly nature of racism. In his final screen appearance, Belafonte brings enormous dignity and gravitas to his cameo as activist Jerome Turner.

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Mixed Breed
West Chester, Brandywine, Pennsylvania


Alfie

ID: 516308810
Male
2 Yeas, 4 months
Brindle
Neutered
Location: Brandwine Valley SPCA
Copeland Center fo Animal Welfare

“Alfie is super affectionate and full of energy. He loves tennis balls, biting on bones, ripping up stuffed animals, and playing tug of war with rope. He also enjoys long walks, especially by the water. He's super friendly with people. Alfie is house trained and loves sitting on the couch and does bird watching. If you are interested in meeting this sweet pup.”

please email Liz at our New Castle campus at
Nicole Cameron    ncameron@bvspca.org

Brandyine Valley SPCA
1212 Phoenixville Pike
West Chester, PA 19380
Phone: (610) 692-6113
https://bvspca.org/

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In-Person & Virtual
ELFA Legal Forum May 7 - May 9, 2023
Marriot Sanibel Harbour & Spa, Fort Myers, Florida

Providing Legal Direction and Valuable Counsel for over 50 Years

The PREMIER EVENT for attorneys serving the equipment leasing and finance industry. The best place to OBTAIN UPDATES ON LEGAL ISSUES that impact your company UNMATCHED NETWORKING OPPORTUNITIES with your peers in the industry.

The Equipment Leasing and Finance Association is offering the Legal Forum as a hybrid event! You have the flexibility to choose the option that works best for you:

In-Person: Attend the Legal Forum in-person to connect with colleagues in Fort Myers. Onsite attendees will enjoy unparalleled opportunities to network, do business and uncover ideas to help your business grow. All in person attendees will also have access to attend virtually to education sessions as well.

Virtual: Attend the Legal Forum remotely to hear from industry experts from the comfort of your home or office. Watch livestreams of high-quality educational sessions and top-notch keynote speakers when and where it’s most convenient for you—for a discounted price.

Conference Qualifies CLE Credits 

Full Information:
https://cvdata.elfaonline.org/cvweb/cgi-bin/eventsdll.dll/EventInfo?sessionaltcd=LF23

[headlines]
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News Briefs---

United to hire 15,000 workers,
    with focus on Chicago
https://www.aviationpros.com/airlines/news/53059418/united-to-hire-thousands-in-chicago-as-the-airline-looks-to-continue-adding-employees

Burger King Cracking Down on Underperforming Franchisees
    300-400 U.S. restaurants will close in 2023
https://www.qsrmagazine.com/fast-food/burger-king-cracking-down-underperforming-franchisees

Comerica Bank Named U.S. Small Business Administration
    Michigan District Lender of the Year
https://www.prnewswire.com/news-releases/comerica-bank-named-us-small-business-administration-michigan-district-lender-of-the-year-301815914.html

Shell Reports $9.6 Billion Profit,
    Despite Falling Oil Prices
https://www.nytimes.com/2023/05/04/business/shell-1q-earnings-oil-gas.html

Remote work is straining public transit
    — and many agencies are stuck
https://www.politico.com/news/2023/05/03/public-transit-office-workers-00094999

Constructions layoffs reach highest level
    since early in the pandemic
https://www.constructiondive.com/news/constructions-layoffs-reach-highest-level-since-early-pandemic/649238/


[headlines]
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More regional bank stocks slide,
   but deposits aren’t fleeing
https://www.washingtonpost.com/business/2023/05/04/pacwest-bank-stock-drop/

 

[headlines]
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Sports Briefs---

Bucks fire coach Mike Budenholzer after early exit
https://www.espn.com/nba/story/_/id/37424110/sources-bucks-fire-coach-mike-budenholzer-early-exit

Seven Big Questions for NFL Teams After the Draft
https://www.theringer.com/nfl-draft/2023/5/4/23710236/seven-big-questions-for-teams-after-2023-nfl-draft-aaron-rodgers-brock-purdy-mac-jones

The Warriors have their Jack Nicholson: Her name is Zendaya
https://www.sfchronicle.com/sports/warriors/article/the-warriors-jack-nicholson-her-name-zendaya-18080308.php

[headlines]
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California News Briefs---

Oakland Faces a ‘Devastating’ Future
    Without Pro Sports
https://www.nytimes.com/2023/05/04/sports/baseball/oakland-athletics-fans-las-vegas.html

Big San Jose office building within tech
    campus lands city approval
www.mercurynews.com/2023/05/04/san-jose-office-real-estate-tech-office-economy-covid-build-develop/

[headlines]
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Gimme that Wine

 

Gloria Ferrer vineyards a Sonoma County pioneer
     in using AI to monitor crops
https://www.pressdemocrat.com/article/lifestyle/gloria-ferrer-vineyards-a-sonoma-county-pioneer-in-using-ai-to-monitor-crop/

The 15 Best Wines In 2023 So Far
https://www.tastingtable.com/1255933/best-wines-2023/

Archaeologists uncover elaborate ancient
winery among Roman ruins
https://www.thedrinksbusiness.com/2023/04/archaeologists-uncover-elaborate-ancient-winery-among-roman-ruins/

Oregon State researchers make breakthrough in
   understanding the chemistry of wildfire smoke in wine
https://today.oregonstate.edu/news/oregon-state-researchers-make-breakthrough-understanding-chemistry-wildfire-smoke-wine

[headlines]
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This Day in American History

      1494 - Columbus discovered Jamaica in 1494, meeting the Arawak Indians, who reportedly celebrated the event with a rum drink. He would eventually enslave or kill all on the many islanders by disease or violence.
The European nations would then bring over mostly African slaves to do the work on the land. 
http://www.picturehistory.com/find/p/1405/mcms.html 
http://www.hartford-hwp.com/archives/41/038.html 
http://www.webster.edu/~corbetre/haiti/history/precolumbian/tainover.htm
    1780 – The second oldest learned society in the U.S., the American
    1847 - The American Medical Association was organized at a meeting at Philadelphia attended by 250 delegates. This was the first national medical convention in the US.
    1864 - The forces of Union General Ulysses S. Grant and Confederate General Robert E. Lee clash in the Wilderness, beginning an epic campaign for the capture of the Confederacy capital. Lee had hoped to meet the Federals, who plunged into the tangled Wilderness west of Chancellorsville, Virginia, the day before, in the dense woods to mitigate the nearly two-to-one advantage Grant possessed as the campaign opened. For the next six weeks, the battle continued off and on.
    1867 - Nelly Bly was born Elizabeth Cochran Seaman (d. 1922), Cochran’s Mill, PA.  The first woman superstar of journalism, she was a fighter for women's rights and the underdog. She once feigned insanity to get inside asylum to expose the dismal conditions for the emotionally ill. Her fame, however, rests on a publicity race around the world to beat the 80-day around the world fictional trip authored by Jules Verne. Her career started at $5 a week and reached a high point of $25,000 a year. Her first articles were about the slum life of her home area of Pittsburgh and the dismal conditions forced on the working girls of the city because of low wages and social stigmas. She then went to Mexico where she wrote of the poor there and the overt official corruption that kept so much of the culture in poverty while making others super rich. She was expelled from Mexico when the articles appeared. The articles were later collected in “Six Months in Mexico” (1888). She moved to New York to work for Joseph Pulitzer's New York World at a much higher salary. Her first assignment was feigning insanity and being committed to an asylum. Her exposes resulted in a grand jury hearing and some changes in care of the insane. The articles were collected in “Ten Days in a Mad House” (1887). Her career included exposes of sweatshops, the jail system (she was arrested after pretending to shoplift), and even the briberies inherent in the lobbying system that influences legislatures. Then came her high publicized trip around the world to break the Jules Verne fictional record of "Around the World in 80 Days." Traveling alone on whatever transportation was available, she sent back dispatches that were eagerly read by the public so that when she returned to New York in 72 days, 6 hours and 11 minutes, she was the most famous woman in America, perhaps in the world. She published her exploits in a successful “Nellie Bly's Book: Around the World in Seventy-two Days” (1890). She was 23 years old. She also described using a diving bell to descend into the ocean and then floating above the earth in a balloon. The pen name "Nellie Bly" came from a Stephen Foster song.
    1891 - The world-famous Carnegie Hall opened in New York. Designed by architect William B. Tuthill and built by philanthropist Andrew Carnegie, it is one of the most prestigious venues in the world for both classical music and popular music. Among the opening night attractions ... Tchaikovsky conducting his "Marche Solennelle." On this date in 1991, a 100th birthday celebration for the hall included two concerts, featuring the likes of violinist Isaac Stern, tenor Placido Domingo, soprano Jessye Norman, cellist Mstislav Rostropovich and conductor Zubin Mehta.
    1892 – Congress extended the Chinese Exclusion Act for 10 years. The first significant Chinese immigration to North America began with the California Gold Rush of 1848–1855 and it continued with subsequent large labor projects, such as the building of the Transcontinental Railroad.  During the early stages of the gold rush, when surface gold was plentiful, the Chinese were tolerated, if not well received.  As gold became harder to find and job competition increased, animosity toward the Chinese and other foreigners increased.  The Chinese Exclusion Act signed by President Chester A. Arthur on May 6, 1882, prohibiting all immigration of Chinese laborers. The act followed the Angell Treaty of 1890, a set of revisions to the US–China Burlingame Treaty of 1868 that allowed the US to suspend Chinese immigration. The act was initially intended to last for 10 years and this extension in the Geary Act was made permanent in 1902. The Chinese Exclusion Act was the first law implemented to prevent a specific ethnic group from immigrating to the United States. It was repealed by the Magnuson Act on December 17, 1943.
    1893 - Stock Market Crash: Wall Street stock prices took a sudden drop. By the end of the year, 600 banks had closed. The Philadelphia and Reading, the Erie, the Northern Pacific, the Union Pacific and the Atchison, Topeka and Santa Fe railroads had gone into receivership; 15,000 other businesses went into bankruptcy. Other than the "Great Depression" of the 1930s, this was the worst economic crisis in US history; 15-20 percent of the workforce was unemployed.
    1895 - Margaret Francis “Peggy” Bacon (d. 1987) was born in Ridgefield, CT.  U.S. artist. Her main media were painting, dry point etching, and lithography. She once gave up painting because her husband derided her and made her think her efforts were inadequate. She was able to fashion a great career in caricatures and book illustrations. Her work was often featured in the New Yorker magazine. She resumed serious painting after her divorce at age 45. At age 80, in 1975, she became the first living woman to be given a retrospective at the National Museum of American Art. Her witty, much praised caricatures of the famous of her era were collected in the best-seller “Off with Their Heads” (1934).
    1903 - James Beard (d. 1985) birthday at Portland, OR.  The Father of American Cooking. In a long and busy culinary career, he penned more than 20 classic cookbooks, appeared on television's first cooking show in 1946 and was an enthusiastic ambassador for the American style of cooking. His Greenwich Village brownstone is America's only culinary historic landmark and serves as the headquarters of the James Beard Foundation.
    1904 - Denton True "Cy" Young pitched baseball's first perfect game, not allowing a single opposing player to reach first base. Young's outstanding performance led the Boston Americans in a 3-0 victory over Philadelphia in the American League. Young will eventually complete 24 straight hitless innings, still the record, and 45 shutout innings in a row, a record until broken by Jack Coombs’ 53 scoreless frames in 1910.  The Cy Young Award for pitching was named in his honor.
    1925 - High school science teacher John Scopes was arrested for teaching evolution in one of Tennessee's public schools
http://lcweb2.loc.gov/ammem/today/today.html
    1936 - The first bottle with a screw cap and a pour lip was patented by Edward A. Ravenscroft, Glencoe, Il. The bottles were manufactured by the Abbott Laboratories, North Chicago, Il.
    1938 - Soul singer Johnnie Taylor (d. 2000) was born in Crawfordville, Arkansas. One of the mainstays of the Stax-Volt label in Memphis during the late '60s, his best-known recording is his 1968 million-seller "Who's Making Love?"
    1942 - Country superstar Tammy Wynette was born Virginia Wynette Pugh (d. 1998) near Tupelo, Mississippi. "D-I-V-O-R-C-E" and "Stand by Your Man," which is also the title of her autobiography, are typical of her country ballads, backed by the lush orchestral arrangements of Billy Sherrill. "Stand by Your Man," which topped the country charts in 1968, was the biggest-selling single by a woman in the history of country music. Her other number-one hits include "The Ways to Love a Man" from 1969, "He Loves Me All the Way" from 1970 and "We're Gonna Hold On," a 1973 duet with George Jones. Wynette and Jones were married from 1968 to 1975. In 1992, she teamed up with pop-pranksters The KLF. Together they scored a modest hit with a reworking of "Stand by your Man," called "Justified and Ancient (Stand by the Jams)."
    1945 - In Lakeview, Oregon, Mrs. Elsie Mitchell and five neighborhood children are killed while attempting to drag a Japanese balloon out the woods. Unbeknownst to Mitchell and the children, the balloon was armed, and it exploded soon after they began tampering with it. They were the first and only known American civilians to be killed in the continental United States during World War II. The U.S. government eventually gave $5,000 in compensation to Mitchell's husband and $3,000 each to the families of Edward Engen, Sherman Shoemaker, Jay Gifford, and Richard and Ethel Patzke, the five slain children. The news was never printed in newspapers and other balloons were handled by the army. The Japanese were unaware that the balloons reached the United States. The explosive balloon found at Lakeview was a product of one of only a handful of Japanese attacks against the continental United States, which were conducted early in the war by Japanese submarines and later by high-altitude balloons carrying explosives or incendiaries. In comparison, three years earlier, on April 18, 1942, the first squadron of U.S. bombers dropped bombs on the Japanese cities of Tokyo, Kobe, and Nagoyo, surprising the Japanese military command, who believed their home islands to be out of reach of Allied air attacks. When the war ended on August 14, 1945, some 160,000 tons of conventional explosives and two atomic bombs had been dropped on Japan by the United States. Approximately 500,000 Japanese civilians were killed as a result of these bombing attacks.
    1945 - The War Department announces that about 400,000 troops will remain in Germany to form the US occupation force and 2,000,000 men will be discharged from the armed services, leaving 6,000,000 soldiers serving in the war against Japan.
    1946 - Birthday trumpet player, composer Jack Walrath, Stuart, FL.
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    1949 - Top Hits
“Cruising Down the River” - The Blue Barron Orchestra (vocal: ensemble)
“Forever and Ever” - Perry Como
“Again” - Doris Day
“Lovesick Blues” - Hank Williams
    1949 - “Stop the Music” Premiers. ABC's prime-time musical-game show hosted by Bert Parks. Featured the singing talents of Kay Armen, Jimmy Blaine, Betty Ann Grove, Estelle Loring, Jaye P. Morgan and June Valli, and the dancing numbers of Sonja and Courtney Van Horne. Harry Salter conducted the band.
    1955 - The musical, "Damn Yankees" opened in New York City for a successful run of 1,019 performances. The show, at the 42nd Street Theatre mixed both baseball and ballet. It is an adaptation of the book, "The Year the Yankees Lost the Pennant." Gwen Verdon starred in the role of Lola. “Whatever Lola Wants Lola Gets,” including the Tony for Best Actress in a musical for her performance. My mother took me to the matinee and Ray Walton as the devil was my favorite.
    1955 - Dodger rookie hurler Tommy Lasorda, making his Major League debut, ties a record by throwing three wild pitches in the first inning of a 4-3 victory over the Cardinals. The future Dodger Hall of Fame skipper doesn't get the decision and will end his playing days after the 1956 season with a lifetime record of 0-4.
    1957 - Top Hits
“All Shook Up” - Elvis Presley
“School Day” - Chuck Berry
“A White Sport Coat (And a Pink Carnation)” - Marty Robbins
“Gone” - Ferlin Husky
    1961 - Astronaut Alan B. Shepard Jr. became America's first space traveler as he made a 15-minute suborbital flight in a capsule launched from Cape Canaveral
http://www.nytimes.com/learning/general/onthisday/big/0505.html
    1962 - "West Side Story" soundtrack album goes to #1 and stays there for 54 weeks which is more than 20 weeks longer than any other album
    1962 - No. 1 Billboard Pop Hit: "Soldier Boy," The Shirelles.
    1965 - Top Hits
“Mrs. Brown, You've Got a Lovely Daughter” - Herman's Hermits
“I Know a Place” - Petula Clark
“I'll Never Find Another You” - The Seekers
“This is It” - Jim Reeves
    1966 - Willie Mays hit home run number 512 of his career. The San Francisco Giants' superstar became the greatest home run hitter in the National League to that time, passing New York Giant Mel Ott.
    1967 - "San Francisco" by Scott McKenzie enters the charts and will eventually hit #4. The song became kind of an anthem during the hippie movement.
    1968 - Buffalo Springfield played its final show in Long Beach, California. There were reports of persistent squabbling between group members Stephen Stills and Neil Young. But Stills and Young would go on to form Crosby, Stills, Nash and Young with David Crosby and Graham Nash. Buffalo Springfield was together only two years and released just three albums, but their 1967 hit "For What It's Worth" became an anthem for the hippie generation.
    1973 - Secretariat, ridden by Ron Turcotte, won the Kentucky Derby in record time of 1:59.2. “Big Red,” as he was known, beat Sham by 2 ½ lengths and went on to win the Triple Crown.
    1970 - No. 1 Billboard Pop Hit: "American Woman," Guess Who.
    1973 - Top Hits
“Tie a Yellow Ribbon Round the Ole Oak Tree” - Dawn featuring
   Tony Orlando
“The Cisco Kid” - War
“Little Willy” - The Sweet
“Behind Closed Doors” - Charlie Rich
    1973 - The University of Miami breaks away from the unstated but clearly understood rules and offers the first athletic scholarship ever made to an American WOMAN (Terry Williams). YES - the date was 1973.
    1978 - Pete Rose of the Cincinnati Reds got the 3,000th hit of his career, a single off Steve Rogers of the Montréal Expos. Rose played in the Majors from 1963 through 1986 and wound up with 4,256 hits, more than any other player.
    1979 - Thirteen years after the original duo of Peaches and Herb split up, Herb Feemster teamed up with a new Peaches, Linda Greene, to enjoy a four-week run at #1 on the US singles chart with "Reunited."
    1979 - 28-year-old Suzi Quatro reached #5 on the Hot 100 with a duet with Chris Norman called "Stumblin' In." It would be the only time she cracked the Top 40.
    1981 - Top Hits
“Morning Train” (“Nine to Five”) - Sheena Easton
“Just the Two of Us” - Grover Washington, Jr./Bill Withers
“Being with You” - Smokey Robinson
“Rest Your Love on Me” - Conway Twitty
    1981 - Mobile, Alabama had its worst flash flooding ever as thunderstorms unloaded 8 to 16 inches of rain over the metro area in a couple of hours. Damage was $36 million.
    1982 - No. 1 Billboard Pop Hit: "Chariots of Fire," Vangelis. The performer, whose real name is Evangelos Papanthanassiou, wins an Academy Award for the score to the film "Chariots of Fire."
    1986 - Sacramento, California hit the 100 degree mark, breaking the previous record for this day of 92 degrees which was set in 1944. This is the earliest in the season Sacramento has hit the 100 mark.
    1987 - Unseasonably hot weather prevailed in the western U.S. A dozen cities in California reported record high temperatures for the date. Afternoon highs of 93 degrees at San Francisco, 98 degrees at San Jose, 100 degrees at Sacramento, and 101 degrees at Redding, were the warmest of record for so early in the season. The high of 94 degrees at Medford OR was also the warmest of record for so early in the season.
    1989 - Top Hits
“Like a Prayer” - Madonna
“I'll Be There for You” - Bon Jovi
“She Drives Me Crazy” - Fine Young Cannibals
“Young Love” - The Judds
    1989 - Thunderstorms swept across Georgia and the Carolinas during the late afternoon and evening hours spawning seventeen tornadoes. A tornado at Toccoa, GA injured 15 persons, and a tornado at Chesnee, SC killed two persons and injured 35 others. Five tornadoes in North Carolina accounted for five deaths, 88 injuries, and $60 million damage. Thunderstorms also produced baseball size hail at Lake Murray, SC, and wind gusts to 78 mph at Brooklyn, MD.
    1990 - A strong Pacific cold front moving rapidly inland caused weather conditions at the east end of the Strait of Juan de Fuca in Washington State to quickly change from sunny and calm to westerly winds of 60 mph and ten-foot waves. Three recreational fishing boats capsized in heavy seas off Port Angeles resulting in five deaths. In California, temperatures soared above 90 degrees across much of the state. The high of 101 degrees in downtown Los Angeles was eight degrees hotter than their previous record for the date
    1993 - Microsoft announced it would bundle its popular database software, Microsoft Access, with its Microsoft Office package, which already included MS Word and Excel. Microsoft's competitors, including Lotus and WordPerfect, also added database software to their office software suites.
    1995 - A supercell thunderstorm rapidly developed just ahead of a fast-moving bow echo squall line and blasted Tarrant County, Texas. Large hail up to 5 inches in diameter, driven by 80 mph winds, caused a tremendous amount of damage. 10,000 people were caught out in the open at Mayfest in Downtown Fort Worth, resulting in 109 injuries from the large hail. Torrential rains of up to 3 inches in 30 minutes and 5 inches in one hour across Dallas caused unprecedented flash flooding, resulting in 16 deaths. Total damage in Fort Worth alone was estimated at $2 billion, making this the costliest thunderstorm event in U.S. history. This was the third severe hailstorm to strike the area in only a little over a month.
    1997 - Crosby, Stills and Nash helped mark the 27th anniversary of the Kent State University shootings with a concert at the Ohio campus. The group performed their hit "Ohio," written by Neil Young after the killings of four students by National Guardsmen during an anti-war demonstration on May 4th, 1970.
    1999 - At the 34th annual Academy of Country Music Awards, Garth Brooks is named artist of the decade, Dixie Chicks' critically acclaimed multiplatinum debut "Wide Open Spaces," is named album of the year, and Faith Hill wins top female vocalist, as well as single and video of the year honors for "This Kiss."
    2000 - Cardinal first baseman Mark McGwire hits the longest home run in the 30-year history of Riverfront/Cinergy Field, but the 473-foot shot isn't enough as Ken Griffey Jr.'s homer leads the Reds past St. Louis, 3-2.
    2005 - Mavis Staples and Charlie Musselwhite lead the field with three trophies each at the 26th W.C. Handy Awards, held in Memphis.
    2013 - The world's first plastic gun, produced by a 3-D printer by Defense Distributed fired successfully in Austin, Texas. Security officials fear plastic weapons would not be detected at airport screenings.
    2020 - Global confirmed cases of COVID-19 reach 3.65 million, US cases pass 70,000 while the UK becomes the most affected in Europe with 29,427 known deaths.

NBA Champions:
    1969 - Boston Celtics
Stanley Cup Champions:
    1966 - Montréal Canadiens


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