Wednesday, November 9, 2022
Today's Leasing News Headlines
Utah's Disclosure Laws Soon to Take Effect
By Ken Greene, Leasing News Legal Editor
New Hires/Promotions in the Leasing Business
and Related Industries
Leasing and Finance Industry Help Wanted
Access Unlimited Income Potential/Working Remotely
Quality Relationships and Generating Quality Assets
Sales Makes it Happen by Scott Wheeler, CLFP
Chesswood Group Limited Announces
$12.3 Million Q3 Compared to $9.1 Million 2021
There's Always Money for Pumpkin Spice Latte
Inflation Hasn't Slowed Down Starbucks Sales
Veterans Day Movies: Sands of Iwo Jima/Fixed Bayonets
The Deer Hunter/Three Kings/Stop-Loss
With Reviews by Leasing News' Fernando Croce
Dallas, Texas Adopt-a-Dog
Compensation & Workforce Trends in Financial Services
Open to Members and Non-Members - Wed., Nov. 15
News Briefs ----
Tesla recalls 40,000 U.S. vehicles over
potential loss of power steering assist
Daimler recalls 218,468 trucks for
possible corrosion on brake module
Where no harvester has gone before
biggest equipment evolution/revolution in Napa/Sonoma
Potential Hurricane Nicole prompts evacuation
orders as it heads toward Florida east coast
Nvidia Offers Alternative Chip for China
to Clear U.S. Export Hurdles
Millennials Are Changing What It Takes to Succeed in Sales
biggest generation in workforce is taking over purchasing
You May Have Missed ---
Le Bernardin at 50: Still Going Strong
one of the world’s most acclaimed dining destinations
Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
Sales Make It Happen
California Nuts Brief---
"Gimme that wine"
This Day in History
Weather, USA or specific area
######## surrounding the article denotes it is a “press release,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer, it is considered a “byline.” It reflects the opinion and research of the writer.
Utah's Disclosure Laws Soon to Take Effect
By Ken Greene, Leasing News Legal Editor
Time to get ready for Utah’s new registration and disclosure laws, which take effect on January 1, 2023. Here is a summary of the new rules and requirements.
1. Who needs a license? Anyone not exempt who extends a business finance, capital lease, or commercial loan to a business.
2. Who and what is exempt? A depository institution.
- A subsidiary of a depository institution (N.B. This is clear, unlike in California, where this is issue remains unsettled)
- A service corporation for a depository institution.
- A provider regulated under the Farm Credit Act.
- A provider that consummates fewer than five financial products in the state in any 12 month period (N.B. Unlike California, there is no requirement that the transactions not be “incidental” to the business of the provider.)
- True leases (as defined under the Utah Commercial Code.)
- Certain motor vehicle loans.
- A commercial transaction in excess of $1 million
- As in California, the provider must make certain disclosures before consummating a commercial transaction.
- The general disclosure categories are:
- Total amount of fund provided
- Total amount of funds disbursed
- Total amount to be paid to provider
- Total dollar cost of financing
- Amounts paid to brokers
- Note you do not have to disclose the APR as in California.
4. What do you need to do?
- Register your company with the Department of Financial Institutions. Registrations expire and must be renewed annually.
- Pay the application/renewal fee.
- Describe your business.
- Provide personal information including criminal convictions.
- Register and provide proof of registration with the NMLS. NMLS login is at: https://mortgage.nationwidelicensingsystem.org/Pages/default.aspx
Ken Greene Leasing & Finance Observations
New Hires/Promotions in the Leasing Business
and Related Industries
Barry Bobrow was hired as Managing Director, Head of Credit Markets, Regions Business Capital Corporation, New York, New York. He is located in Charlotte, North Carolina. Previously, he was Managing Director, Wells Fargo (April, 2004 - April, 2022); Managing Director, Bank of America (April, 1996 - April, 2004); Director, Chase (February, 1994 - April, 1996); Managing Director, Continental Bank (May, 1985 - February, 1994).
Tom Callow was hired as Senior Vice President, Asset Manager, Capteris, Des Plaines, Illinois. He is located in Towson, Maryland. Previously, he was Vice President, Equipment Management, MB Equipment Finance (July, 2015 - November, 2022); Vice President, Senior Asset Manager, Fifth Third Bank (July, 2015 - November, 2022).
Jackie Ettle was promoted to Operations Manager, Northland Capital, St. Cloud, Minnesota.
Dan Karas was hired as Chief Credit Officer, C2FO, Dallas, Texas. He is located in Plano, Texas. He remains Member of the Board of Advisors, WoodRock & Company (April, 2020 - Present). Previously, he was Executive Vice President, Allied Affiliated Funding, a division of Axiom Bank (October, 2020 August, 2022); EVP and Chief Lending Officer, TBK Bank (May, 2012 - August, 2019)
Bryan L. Lucas was hired as Alabama Market Manager, Fountain Equipment Finance, Birmingham, Alabama. Previously, he was Relationship Manager, Commercial Banking Solutions, Regions Bank (September, 2019 - November, 2022); Vice President, BBVA Compass (January, 2017 - September, 2019). Full Bio:
Nicole Montrone was hired as Vice President of Sales, NR Business Credit, Flower Mound, Texas. She is located in Birmingham, Alabama. She remains Managing Director, Kpop Dynamic (January, 2022 – Present). Previously, ENGS commercial Capital, LLC, a division of Engs Commercial Finance (February, 2017 - December, 2021). Full Bio:
Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support/Work
Quality Relationships and Generating Quality Assets
Sales Makes it Happen by Scott Wheeler, CLFP
The success of commercial equipment finance and leasing industry originators is a direct result of their ability to generate quality relationships and quality assets. The current volatility in the economy will force participants throughout the industry to revisit the criteria of quality. Below are a few statements to consider:
- Quality vendors and/or end-users are not necessarily those with whom you do the most business, but those which align with the goals, objectives, and values of the originator's company.
- The best quality relationships are those to whom an originator can offer the most value, and that enhance the long-term viability of the originator's company.
- Quality assets (transactions) have the ability, capacity, and willingness to fulfill their obligations under the legal contract that they have entered into with the originator's company.
- Quality assets create long-term profitability for the originator's company.
- Quality assets provide security to the originator's company by always being marketable and easily convertible into cash.
- Originators are ultimately judged by the quality of their relationships and the quality of those assets that he generates.
- By seeking quality assets, originators are well rewarded. In volatile times, those originators who play to the lowest common denominator are eliminated.
Enhance your career by focusing on quality relationships and generating quality assets.
Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Sales Makes it Happen articles:
Chesswood Group Limited Announces
$12.3 Million Q3 Compared to $9.1 Million 2021
Chesswood’s President and CEO, declared, “Chesswood generated strong earnings and free cash flow in the third quarter of 2022. Each of our operating companies maintained strong origination volumes despite pricing increases that occurred during the quarter to offset the impact of rising interest rates.
“Our teams remain conservative with their underwriting, as evidenced by the strong credit performance in the quarter,” he added.
“As we draw closer to the end of 2022, our teams can celebrate the tremendous success we have had throughout 2022. With our portfolios having experienced tremendous growth this year, we believe it is prudent to shift our focus towards enhancing liquidity in response to the changing economic environment,” said Mr. Marr
Based in Toronto, Canada, Chesswood Group Limited’s shares trade on the TSX under the symbol CHW.
To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com.
The websites of Chesswood Group Limited’s operating businesses are:
Full Press Release
In another sign that consumers keep spending money, undeterred by inflation, Starbucks reported record sales for its fourth fiscal quarter that ended October 2. The world's largest coffee chain that operates more than 35,000 stores around the world posted $8.4 billion in revenue, up 11 percent from the same quarter last year. That brings the company's total sales for fiscal 2022 to $32.3 billion, up more than 20 percent from its pre-Covid high of $26.5 billion.
Global comparable store sales, a metric used by retail chains to measure performance without the impact of newly opened locations, increased 7 percent in the past quarter, driven by strong results in North America. Internationally, results were dragged down by lockdowns in China, which led to a 16 percent drop in comparable store sales in Starbucks' second-largest market, while the company recorded double-digit sales growth in the rest of the world.
Looking at the full year, comparable store sales growth was not only driven by an increase in average ticket/order value (i.e. rising prices) but also by a small increase in the number of comparable store transactions despite the negative impact of Covid restrictions on store traffic in China. That means, even amidst a global cost of living crisis, which ought to make people think twice about discretionary spending, coffee apparently remains non-negotiable for many consumers. There's always money for Pumpkin Spice Latte, it seems.
By Felix Richter, Statista
Academy for Certified Lease & Finance Professionals
November, December, 2022/January, 2023 - Updated
The Academy for Lease and Finance Professionals (ALFP) is a three-day event designed to fully prepare an individual to sit for the CLFP exam assuming the attendee has already self-studied. A trend has begun in having virtual online sessions.
During the first two days, all of the required sections of the CLFP exam are covered in-depth. On the third day, the exam is offered but is not mandatory and may be taken on another day.
Students are strongly advised to have read and studied The Certified Lease & Finance Professionals' Handbook prior to attending the class in order to ensure success.
CIT Private ALFP
November 16 – 17
Taycor In-Person Private
December 7 – 8, 2022
2022 Private Virtual ALFP Hosted by DLL
December 13 – 14. 2022
Ascentium Capital Private Online ALFP
January 4- 6, 2023
Professional Handbook for Taking the Test in 2022
(Note: for taking test in 2023 Ninth Edition, available.)
Watch at Home
by Fernando Croce, Leasing News Movie Reviewer
Running the gamut from screwball comedy (“Arsenic and Old Lace”), suspense (“Blow Out”) and psychological horror (“Cure”) to a couple of intensely emotional dramas (“Eve’s Bayou,” “Sound of Metal”), Criterion’s latest batch of restored releases has something for almost everyone.
Arsenic and Old Lace (1944): Needing a break from wartime documentaries, classic director Frank Capra (“It’s a Wonderful Life”) turned to this screen adaptation of the popular Broadway play—a screwball comedy about family madness and murder! Cary Grant stars as Mortimer Brewster, a writer who, after avoiding marriage for years, ends up getting hitched to Elaine (Priscilla Lane) on Halloween. The fun starts when he brings his bride home to a most loony household, which includes a pair of sweetly homicidal aunts (Josephine Hull, Jean Adair), one brother (John Alexander) who believes he’s Teddy Rooseveltand another (Raymond Massey) who’s a psychopath on the run from the police. With so much going on around, Mortimer begins to doubt his own sanity. Played with breathlessgusto, this Capra’s movie is atwisted frenzy.
Blow Out (1981): For a caustic take on the American Dream, check out this magnificent thriller from suspense master Brian De Palma (“Carrie”). John Travolta is riveting as Jack Terri, a sound engineer who, while working on a low-budget horror movie, uncovers a political conspiracy. As he records sounds at night, he witnesses a car plunging off a bridge. He manages to save the passenger, Sally (Nancy Allen), but the driver drowns—and is revealed to be a presidential candidate. Piecing together what happened from what he recorded in his tapes, Jack finds himself at the center of a web of lethal intrigue with an assassin (John Lithgow) on his trail. Contrasting American ideals with the brutal reality, De Palma’s film culminates with an unforgettable sequence set against Philadelphia’s Independence Day fireworks.
Cure (1997): Japanese horror is noted for its remarkably unnerving qualities, and few titles better illustrate that than this blood-chilling psychological thriller from director Kiyoshi Kurosawa (“Pulse”). When a series of gruesome deaths hit the city, Detective Takabe (Koji Yakusho) takes on the case. Though seemingly unconnected, the crimes eventually lead to a single person—a mysterious amnesiac named Mamiya (Masato Hagiwara), whose low-key demeanor conceals a devilish power to enter the minds of his victims. Can Takabe get to the bottom of this enigmatic evil, or is he doomed to turn into just another one of Mamiya’s murderous pawns? With an implacable style that can go from tranquil to hallucinatory, Kurosawa weaves an indelible atmosphere of pervasive dread, creating horror in its purest sense. With subtitles.
Eve’s Bayou (1997): Writer-director Kasi Lemmons (“Harriet”) made an exceptionalfeature debut with this moody, emotionally intense drama set in Louisiana’s Creole-American community in the 1960s. Eve Batiste (Jurnee Smollett) is the ten-year-old protagonist, whose world is turned upside-down after she accidentally witnesses her father Louis (Samuel L. Jackson) cheating on her mother Roz (Lynn Whitfield). As her entry into adolescence is complicated by supernatural gifts, Eve struggles to sort out her familial bonds—specially with her aunt Mozelle (Debbie Morgan) and older sister Cisely (Meagan Good). With strikingconfidence and delicacy, Lemmons elevates the coming-of-age template into a complex, fluid Gothic landscape of power and beauty. Aided by strong performances from the entire cast, the filmbuilds up a heady blend of magical realism and melodrama.
Sound of Metal (2020): Screenwriter Darius Marder (“The Place Beyond the Pines”) madean impressive directorial debut with this absorbing drama about loss, change, and transcendence. Riz Ahmed delivers an Oscar-nominatedperformance as Ruben Stone, a heavy-metal drummer traveling with his singer girlfriend, Lou (Olivia Cooke). When he develops sudden problems with his hearing, however, he’s unable to keep up with the band and reluctantly looks for support with a local community for the deaf. There he meets a seasoned counselor named Joe (Paul Raci), who tries to help Ruben despite his anger at his situation. Suspended between familiar and newfound cultures, Ruben more than ever becomes obsessed with finding his place in the world. Patient yet immersive, Marder’s film assuredly fuses imagery and sound with poignant and rewarding results.
Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since the summer of 2008. His reviews appear each Friday.
Fernando's Reviews: https://leasingnews.org/Conscious-Top%20Stories/Fer-Review.htm
Dallas, Texas Adopt-a-Dog
4 years old
Meet Diamond IV!
I am a 4 year old girl who is a total sweetheart and loves pets. I'm a first-class smuggler and enjoy lying next to you and watching TV. I love to take naps with my people. I'm a LOVER of so many things... I love humans, my 2 dog foster siblings, going for walks, riding in the car, playing fetch, exploring in the backyard, playing with my doggy brothers inside and out. I also LOVE food & treats, chewing on antlers, belly rubs and chilling.
I am potty trained, walk well on a leash, and take treats gently. I know lots of commands including sit, down, rollover, stay, come and especially love to shake your hand for a treat. Although, I will go into a crate, I am well behaved and prefer a comfy doggie bed instead of a crate. I can be left out in the house while my people are gone with no issues.
An ideal home for me would be one with a yard to play in and a quiet neighborhood to go on short walks in AND a dog or two that love to play.
All Dallas Pets Alive adoptable pets are spayed or neutered, microchipped, and up to date on vaccines upon adoption. The standard minimum donation for dogs over six months to seven years is $200,
You can view all adoptable pets and fill out an adoption application online on our website at http://dallaspetsalive.org/adopt/adoptable-dogs/ .
For more information, you can email email@example.com.
Dallas Pets Alive
1700 Preston Rd., Suite 660 #263
Dallas, TX 75230
Compensation & Workforce Trends in Financial Services
Open to Members and Non-Members - Wed., Nov. 15
Don't miss the ELFA Wednesday Webinar "Compensation and Workforce Trends in Financial Services" on Wed, Nov. 16, 1-2pm EST. Open to ELFA member and non-members.
The presentation will cover human capital / workforce trends in banking and financial services, company retention strategies, and highlights from ELFA's 2022 Equipment Leasing & Finance Compensation Survey.
Our research shows that compensation in the equipment finance industry returned to steady increases in 2021,” said Choi. “Webinar attendees will have the opportunity to learn about compensation rates as reported by more than 80 equipment finance companies representing a cross section of the equipment finance sector, including independent, bank and captive equipment finance companies.”
Bill Choi, CAE, Vice President, Research & Industry Services, ELFA
Steven Hurd, Associate Partner, AON Human Capital Solutions
Dave Rosenthal, Senior Consultant, AON Human Capital Solutions
Registration (ELFA Members and Non-Members welcome)
This Day in History
1646 - The Massachusetts Bay Colony passed a law making it a capital offense to deny that the Bible was the Word of God. Any person convicted of the offense was liable to the death penalty.
1791 - General Arthur St. Clair, governor of Northwest Territory, was badly defeated by a large Indian army. Miami Indian Chief Little Turtle led the powerful force of Miami, Wyandot, Iroquois, Shawnee, Delaware, Ojibwa and Potawatomi that inflicted the greatest defeat ever suffered by the U.S. Army at the hands of North American Indians. Some 623 regulars were killed and 258 wounded on the banks of the Wabash River near present day Fort Wayne, Indiana. The staggering defeat moved Congress to authorize a larger army in 1792.
1798 - Congress agreed to pay a yearly tribute to Tripoli, considering it the only way to protect U.S. shipping. The US has no appreciable Navy at this time. This is the most expedient and assured way to protect American shipping in the Mediterranean. Thus, the part of the Marine Corps hymn, “…to the shores of Tripoli…”
1856 - James Buchanan was elected President. Stephen A. Douglas coveted the Democratic nomination in 1856 but his reputation had been badly tarnished by ongoing violence in Kansas. In his place, the Democrats turned to James Buchanan, who had been the minister to Britain from 1853 to 1856 and was not linked to the Kansas issue. The Republicans ran their first presidential campaign in 1856, choosing noted Western explorer John C. Frémont, “The Pathfinder." Frémont had no political record (regarded as a plus), but held abolitionist views (a negative in the eyes of many moderates). The Republicans ran a campaign calling for repeal of the hated Kansas-Nebraska Act, opposition to the extension of slavery into the territories and support for internal improvement projects. They also took every opportunity to blame the Democrats for the horrors of “Bleeding Kansas." Buchanan emerged the victor, but failed to gain a majority of the popular vote. In fact, a shift of a small number of votes in several states would have tipped the electoral tally to the Republicans. Mirroring the sectional feelings of the day, the Democrats were strong in the South, the Republicans in the North. The election in 1856 brought a weak President to leadership in a badly divided nation.
1873 - Dentist John Beers of San Francisco patents the gold crown
1898 - The first church to bear the Pentecostal Holiness name was organized at Goldsboro, NC, under the leadership of Methodist evangelist Ambrose Blackman Crumpler, 35.
1864 - Battle of Johnsonville, Tennessee. In the summer of 1864, Sherman captured Atlanta, and by November, he was planning his march across Georgia. Meanwhile, the defeated Confederates hoped that destroying his line would draw Sherman out of the Deep South. Nobody was better at raiding than Confederate Gen. Nathan Bedford Forrest, but Union pursuit had kept him in Mississippi during the Atlanta campaign. Johnsonville was an important transfer point from boats on the Tennessee River to a rail line that connected with Nashville to the east. When Sherman sent part of his army back to Nashville to protect his supply lines, Forrest hoped to apply pressure to that force. Forrest began moving part of his force to Johnsonville on October 16, but most of his men were not in place until early November. Incredibly, the Union forces, which numbered about 2,000, seem to have been completely unaware of the Confederates just across the river. Forrest brought up artillery and began a barrage at 2 p.m. on November 5. The attack was devastating. One observer noted, "The wharf for nearly one mile up and down the river presented one solid sheet of flame." More than $6 million worth of supplies were destroyed, along with four gunboats, 14 transports, and 20 barges. General George Thomas, commander of the Union force at Nashville, had to divert troops to protect Johnsonville. After the raid, Forrest's reputation grew, but the raid did not deter Sherman from embarking on the March to the Sea, his devastating expedition across Georgia.
1879 - Birthday of Will Rogers (d. 1935) at Oologah, Indian Territory (now Oklahoma). American writer, actor, humorist and grassroots philosopher, he was killed in an airplane crash with aviator Wiley Post near Point Barrow, AK, August 15, 1935. “My forefathers,” he said, “didn't come over on the Mayflower, but they met the boat.”
1879 - African-American T. Elkins patents the refrigerating apparatus.
1884 - Grover Cleveland was elected President of the United States and Thomas A. Hendricks was elected Vice-President. The electoral vote was: Cleveland, 219; James G. Blaine, Republican of Maine, 182. The popular vote was: Cleveland 4,911,017; Blaine 4,848,334. In congressional elections, the Republicans gained five seats in the Senate to gain a 43-34 majority. In the House, the Republicans gained 22 seats, but the Democrats held a 183-140 majority. Robert M. La Follette, Republican of Wisconsin, was elected to his first term in the House of Representatives. A celebrated presidential campaign slogan aimed at Grover Cleveland was, “Ma, Ma, where's my Pa?”---a reference to Cleveland's admission that he fathered a child out of wedlock. To this query the Democrats would reply, “Gone to the White House, ha, ha, ha.”
1889 - After a formal meeting of representatives from all National League chapters, the Brotherhood issued a "manifesto" in which it claimed that "players have been bought, sold and exchanged as though they were sheep instead of American citizens." This led to a declaration of war between the Brotherhood and Major League officials which soon exploded into the formation of the Players League. The Brotherhood of Professional Baseball Players represented the first serious effort to organize a labor union consisting of baseball players. It was launched in 1885 with the aim of raising player salaries in recognition of the growing popularity of professional baseball and the growth in revenues generated by the game. It also aimed to combat the reserve clause which restricted player movement and helped to keep salaries down. The organization gained official recognition when NL owners first met with the Brotherhood's representatives in 1887. However, relations between the two soon became difficult as owners were unwilling to make significant concessions. The impasse led to the creation of the Players League in 1890, which included many of the most famous stars of the time and which was owned and operated by the players themselves.
1897 - The first Library of Congress building opened its doors to the public. Previously, the Library had been housed in the Congressional Reading Room in the U.S. Capitol.
1906 - Birthday of Robert Bernard “Bob” Considine (d. 1975), sportswriter and author, at Washington, DC. Considine parlayed some early success as a tennis player and a job as a federal government clerk into a career as a sportswriter. He covered baseball starting in 1933 and soon became a columnist for the Hearst newspapers. He branched out into politics and national affairs and served as a war correspondent during World War II. He wrote or coauthored more than 25 books, including the screenplay for “Pride of the Yankees,” the film biography of Lou Gehrig.
1916 - Birthday of Walter Leland Cronkite, Jr., (d. 2009), St. Joseph, MO. Journalist, war correspondent, former anchor for “CBS Evening News.” During the heyday of CBS News in the 1960s and 1970s, he was often cited as "the most trusted man in America" after being so named in an opinion poll. In mid-February 1968, Cronkite journeyed to Vietnam to cover the aftermath of the Tet Offensive. Upon return, Cronkite wrote an editorial report based on that trip. On February 27, 1968, Cronkite closed that editorial report: “We have been too often disappointed by the optimism of the American leaders, both in Vietnam and Washington, to have faith any longer in the silver linings they find in the darkest clouds…” Following Cronkite's editorial report, President Lyndon Johnson is claimed by some to have said, "If I've lost Cronkite, I've lost Middle America.”
1918 - Birthday of Art Carney (d. 2003), Mount Vernon, NY.
An actor, he won an Oscar for “Harry and Tonto” and six Emmys for “The Honeymooners” as Ralph Kramden’s (Jackie Gleason) sidekick, Ed Norton.
1919 - Birthday of bass player Joe Benjamin (d. 1974), Atlantic, City, NJ
1920 - Women voted nationally for the first time, enabled by the 19th Amendment which prohibits any United States citizen from being denied the right to vote on the basis of sex.
1922 - Birthday of pianist Ralph Sutton (d. 2001), Hamburg, MO.
1924 - Calvin Coolidge was elected to the top office of the United States. Coolidge was already in the office as President having to complete Warren G. Harding's term (Harding died in office). The electoral vote was Coolidge 382; John W. Davis, Democratic candidate, 13. The popular vote was Coolidge 15,725,016; Davis 8,385,503, La Follette, 4,822,856. The huge Republican victory in the presidential election was anticipated. The Democrats had torn themselves apart in a struggle for the nomination. Gov. Alfred E. Smith of New York represented the East and the big cities, and William G. McAdoo of Tennessee, the southern and western parts of the country. The eventual nominee was John W. Davis, an able man but almost unknown to the voters. The Republicans, on the other hand, could point with pride to Calvin Coolidge and a record of prosperity. The Democrats tried to make much of the scandals of the Harding administration but failed to stir the electorate. In fact, despite a strong third party in the field, only about half of those eligible to vote did so.
1924 - The first woman governor was Nellie Taylor Ross, Wyoming, elected to fill the unexpired term of her late husband, William Bradley Ross. From 1933 to 1935, she served as Director of the Mint, the first woman to do so.
1926 - Birthday of percussionist Carlos “Patato” Valdez (d. 2007), Havana, Cuba
1927 - A great Vermont flood occurred. Tropical rains deluged the Green Mountain area of Vermont causing the worst flood in the history of the state. Torrential rains, up to 15 inches in the higher elevations, sent streams on a rampage devastating the Winooski Valley. Flooding claimed 200 lives and caused $40 million damage. The town of Vernon reported 84 deaths. Flooding left up to eight to ten feet of water in downtown Montpelier. (2nd-4th)
1928 - Arnold Rothstein, New York's most notorious gambler, is shot and killed during a poker game at the Park Central Hotel in Manhattan. After finding Rothstein bleeding profusely at the service entrance of the hotel, police followed his trail of blood back to a suite where a group of men were playing cards. Reportedly, Rothstein had nothing good in his final hand. In the 1920's, Rothstein began purchasing nightclubs, racehorses, and brothels. He had such a formidable presence in the criminal underworld that he was reportedly once paid half a million dollars to mediate a gang war. As Rothstein's fortune grew to an estimated $50 million, he became a high-level loan shark, liberally padding the pockets of police and judges to evade the law. He is fabled to have carried around $200,000 in pocket money at all times. Rothstein's luck finally ran out in 1928 when he encountered an unprecedented losing streak. At a poker game in September with "Hump" McManus, "Nigger Nate" Raymond, and "Titanic" Thompson, Rothstein lost a cool $320,000 and then refused to pay on the grounds that the game had been rigged. Two months later, McManus invited Rothstein to play what would be his final poker game. Police were never able to identify Rothstein's murderer. Asked who had shot him before dying, Rothstein reportedly put his finger to his lips and kept the gangsters' code of silence. Rothstein was widely reputed to have organized corruption in professional athletics, including conspiring to fix the 1919 World Series.
1928 - Birthday of drummer Larry Bunker (d. 2005), Long Beach, CA.
1935 - The so-called Yankee Hurricane hit Miami with winds of 95 mph. It was unusual in that it moved into the area from the northeast
1936 - Future U.S. Senate Chaplain Rev. Peter Marshall, 34, married Catherine Wood, 22. Following Peter's premature death at age 46, Catherine immortalized his name through her 1951 best-selling biography, "A Man Called Peter."
1939 - The Packard Motor Car Company, Detroit, publicly exhibited the first air-conditioned car at the 40th Automobile Show, Chicago, IL. Air in the car was cooled to the temperature desired, dehumidified, filtered, and circulated. The refrigerating coils were located behind the rear seat in an air duct, with heating coils into another compartment of the same duct. The capacity of the unit was equivalent to 1.5 tons of ice in 24 hours when the car was driven at 60 miles per hour, or 2 tons at 80 miles per hour. The invention was first offered to the Ford Motor Company, invented by the Greenberg Brothers. It was a sweltering August day when the three Greenberg Brothers entered the posh Dearborn, Michigan offices of the notoriously anti- Semitic carmaker, Henry Ford. "Mr. Ford," announced Hyman Greenberg, the eldest of the three, "we have a remarkable invention that will revolutionize the automobile industry."
Ford looked skeptical, but their threats to offer it to the competition kept his interest piqued. Hi Greenberg continued, "We would like to demonstrate it to you in person." After a little cajoling, they brought Mr. Ford outside and asked him to enter a black car that was parked in front of the building. Norman Greenberg, the middle brother, opened the door of the car. "Please step inside, Mr. Ford." "What!" shouted the tycoon, "are you crazy? It must be one hundred degrees in that car!" "It is," smiled the youngest brother, Max, "but sit down, Mr. Ford, and push the white button." Intrigued, Ford pushed the button. All of a sudden, a whoosh of freezing air started blowing from vents all around the car, and within seconds the automobile was not only comfortable, it was quite cool! "This is amazing!" exclaimed Ford. "How much do you want for the patent?" Norman spoke up. "The price is one million dollars." Then he paused, "And there is something else. We want the name 'Greenberg Brothers Air Conditioning' to be stamped right next to the Ford logo." "Money is no problem," retorted Ford, "but no way will I have a Jewish name next to my logo on my cars!" They haggled back and forth for a while and finally they settled. One and one half million dollars, and the name Greenberg would be left off. However, the first names of the Greenberg brothers would be forever emblazoned upon the console of every Ford air conditioning system. And that is why today, whenever you enter a Ford vehicle you will see those three names clearly defined on the air-conditioning control panel: Max-Hi-Norm
1946 - Birthday of Laura Bush, born Laura Lane Welch, Midland, TX. Former First Lady, wife of President George W. Bush, she attended Southern Methodist University in Dallas, Texas, where she earned a Bachelor of Science degree in education in 1968. After college, she worked as a teacher at Longfellow Elementary School in the Dallas Independent School District until 1969 and then moved to Houston, Texas, where she taught at John F. Kennedy Elementary School in the Houston Independent School District until 1972. Later, she enrolled at the University of Texas at Austin and earned a Master of Library Science degree in 1973. Afterward, she worked at the Houston Public Library, Kashmere Gardens Branch until she moved back to Austin in 1974. She worked as a librarian at Dawson Elementary School until 1977, when she met George Walker Bush at the home of mutual friends. They married in November, 1977 and made their home in Midland. In 1981, George and Laura Bush became the proud parents of twin girls, who are named Barbara and Jenna, after their grandmothers.
1946 - UNESCO, the United Nations Educational, Scientific and Cultural Organization formed.
1949 - “One Man's Family” premiered on TV and is the longest-running uninterrupted dramatic serial in the history of American radio. This series occurred at the same time as the popular radio drama of the same name. In the first season, the cast included Bert Lytell as Henry Barbour, a wealthy San Francisco stockbroker and Majorie Gateson as his wife, Fanny. Also included were Eva Maria Saint and Tony Randall. The second time the show came to TV it was a 15-minute serial and had an entirely new cast. It debuted as a radio series on April 29, 1932 in Los Angeles, Seattle and San Francisco, moving to the full West Coast NBC network the following month and ended in 1959.
1950 - *POYNTER, JAMES I., Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps Reserve, Company A, 1st Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Near Sudong, Korea, 4 November 1950. Entered service at: Downey, Calif. Born: 1 December 1916, Bloomington, Ill. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a squad leader in a rifle platoon of Company A, in action against enemy aggressor forces during the defense of Hill 532, south of Sudong, Korea. When a vastly outnumbering, well-concealed hostile force launched a sudden, vicious counterattack against his platoon's hasty defensive position, Sgt. Poynter displayed superb skill and courage in leading his squad and directing its fire against the onrushing enemy. With his ranks critically depleted by casualties and being critically wounded himself, as the onslaught gained momentum and the hostile force surrounded his position, he seized his bayonet and engaged in bitter hand-to-hand combat as the breakthrough continued. Observing 3 machineguns closing in at a distance of 25 yards, he dashed from his position and, grasping hand grenades from fallen marines as he ran, charged the emplacements in rapid succession, killing the crews of 2 and putting the other out of action before he fell, mortally wounded. By his self-sacrificing and valiant conduct, Sgt. Poynter inspired the remaining members of his squad to heroic endeavor in bearing down upon and repelling the disorganized enemy, thereby enabling the platoon to move out of the trap to a more favorable tactical position. His indomitable fighting spirit, fortitude, and great personal valor maintained in the face of overwhelming odds sustain and enhance the finest traditions of the U.S. Naval Service. He gallantly gave his life for his country.
1951 - Top Hits
“Because of You” - Tony Bennett
“I Get Ideas” - Tony Martin
“Down Yonder” - Del Wood
“Slow Poke” - Pee Wee King
1952 - America said, “I Like Ike.” The Dwight D. Eisenhower/Richard M. Nixon ticket won a sweeping (55%-44%) victory over Democrat Adlai E. Stevenson and running mate John J. Sparkman. Eisenhower became the 34th President of the U.S. The electoral vote was Eisenhower, 442-89. The popular vote was Eisenhower, 36,938,285; Stevenson 27,312,217; Vincent Hallinan, Progressive, 140,138. The Republicans gained one Senate seat for a 48-47 majority with one seat going to a minor party. In the House, they gained 22 seats for a 221-211 majority, one seating to a minority party. On Election Day, 1952, UNIVAC, the world's first commercially available electronic computer, predicted a landslide for Eisenhower. In a test televised by CBS, the computer used early returns from key states to predict the election, based on voting patterns from 1944 and 1948. However, the computer's predictions were radically different from polls taken by Gallup and Roper, which predicted a close race, and the computer's programmers made adjustments so that the computer's first broadcast prediction corresponded more closely to the polls. Only an hour after the polls had closed with less than ten percent of the votes had been counted, the CBS TV Network, which employed the computer, was able to predict Eisenhower's landslide victory, trumping human experts who had predicted a close race. Ironically, the computer's original prediction of 438 electoral votes for Eisenhower and 93 for Stevenson was only off by four votes. The nation watched with interest as a Republican administration took over the reins of government for the first time in 24 years. The most explosive internal problem was Joseph R. McCarthy. Republican of Wisconsin, charging Soviet espionage activities in the U.S. The administration’s most outstanding success was a peace agreement in Korea. Pres. Eisenhower announced the agreement to a relieved country, but warned, “We have won armistice on a single battleground, but not peace in the world.”
1953 - Hulan Jack elected first Black Borough President of Manhattan, NYC.
1953 - “How to Marry a Millionaire” premiered, starring Marilyn Monroe, Betty Grable and Lauren Bacall. One of the most popular films with the most beautiful women, it is about three women whose goal in life was to marry a rich man. The ending: love triumphs over all, and to the surprise of all, the richest man of the group.
1954 - Florence Henderson, who was all of 20 years old, joined with Ezio Pinza and Walter Slezak in "Fanny." The show lit up Broadway 888 times.
1954 - Philadelphia A's move to Kansas City. In 1901, the Western League had been renamed the American League and declared itself the second Major League. New franchises in the east were created and some franchises were eliminated in the West. Philadelphia had a new franchise created to compete with the National League’s Phillies. Former catcher Connie Mack was recruited to manage the club. Mack, in turn, persuaded Phillies minority owner Ben Shibe and others to invest in the team called the Philadelphia Athletics. Mack himself bought a 25 percent interest. In the early years, the A’s established themselves as one of the dominant teams in the new league, winning the A.L. pennant six times (1902, 1905, 1910, 1911, 1913 and 1914), and winning the World Series in 1910, 1911 and 1913. They won over 100 games in 1910 and 1911, and 99 games in 1914. In 1909, the A's moved into the Majors' first concrete-and-steel ballpark, named Shibe Park. Lean years followed but a ‘second dynasty’ emerged in 1927-33 when, in 1927 and 1928, the Athletics finished second to the Yankees, then won pennants in 1929, 1930 and 1931, winning the World Series in 1929 and 1930. In each of the three years, the A's won over 100 games. The Depression took its toll and many of the ‘dynasty’ players were sold off to reduce expense in an era of low attendance. This continued to decimate A’s teams and finally forced the sale to Arnold Johnson, who moved the team to KC. They have been the Oakland A’s since new owner Charlie Finley moved them there in 1968.
1956 - The top six songs on the pop and R&B charts are identical: Elvis Presley's "Jailhouse Rock," the Everly Brothers' "Wake Up Little Susie," Sam Cooke's "You Send Me," the Rays' "Silhouettes," Rickie Nelson's "Be-Bop Baby" and Jimmie Rodgers' "Honeycomb."
1958 - African-American Shirley Verrett, world renowned opera singer, makes her debut in New York City.
1958 - No. 1 Billboard Pop Hit: “It's Only Make Believe,'' Conway Twitty.
1959 – Cubs SS Ernie Banks won his second consecutive MVP award on the strength of his 45 home runs and 143 RBI.
1959 - Top Hits
“Mack the Knife” - Bobby Darin
“Mr. Blue” - The Fleetwoods
“Put Your Head on My Shoulder” - Paul Anka
“The Three Bells” - The Browns
1959 - After 17-year-old gang member Salvador Agron fatally stabbed two teens in New York, radio station WCBS banned the Bobby Darin hit "Mack the Knife."
1961 - Bob Dylan makes his debut at the Carnegie Chapter Hall in New York City. Most of the fifty people in attendance are his friends who paid two bucks to get in. Dylan was paid twenty dollars for the night.
1963 - The Beatles appear at the Royal Command Performances at the Prince of Wales Theatre in London. In attendance are the Queen Mother, Princess Margaret and Lord Snowden. It was here that John Lennon made his now famous announcement: "For our last number, I'd like to ask for your help. The people in the cheaper seats clap your hands and the rest of you, if you'd just rattle your jewelry. We'd like to sing a song called Twist and Shout."
1967 - Smokey Robinson and the Miracles' "I Second That Emotion" is released.
1967 - Top Hits
“To Sir with Love” - Lulu
“Soul Man” - Sam & Dave
“It Must Be Him” - Vikki Carr
“You Mean the World to Me” - David Houston
1968 - Shirley Chisholm became the first black woman elected to the House of Representatives.
1970 - King Peter II of Yugoslavia became the first European king to be buried in the United Sates. His Serbian name was Petar Karadjordjevic. He became King on October 11, 1934. He left Yugoslavia in 1941 after it was invaded by Germany and headed the exiled Yugoslav government during World War II. After 1945, when Yugoslavia became a republic, he lived in New York City.
1972 - "I Can See Clearly Now" by Johnny Nash topped the charts and stayed there for 4 weeks.
1973 - The Chicago Bears set a National Football League record by holding the Green Bay Packers to a minus 12 passing yards.
1973 - The De Franco Family enjoyed their biggest hit when "Heartbeat - It's a Lovebeat" topped out at #3 on the Billboard chart.
1975 - Top Hits
“Island Girl” - Elton John
“Lyin' Eyes” - The Eagles
“They Just Can't Stop It” (“Games People Play”) - Spinners
(“Turn Out the Lights And”) “Love Me Tonight” - Don Williams
1975 – The Orioles’ Jim Palmer won his second consecutive Cy Young award after pacing the AL in wins (23), shutouts (10), and ERA (2.09).
1976 - Major League baseball held its first draft of players who had declared themselves free agents. 24 players from 13 clubs were available for selection. Reggie Jackson eventually signed the most lucrative contract in this group, $2.9 million over five years, to play with the New York Yankees.
1978 - "You Needed Me" by Anne Murray topped the charts and stayed there for a week.
1979 - 500 Iranians seized the US Embassy in Teheran, taking some 90 hostages, of whom about 60 were Americans. They vowed to hold the hostages until the former Shah, Mohammed Reza Pahlavi, who was in the US for medical treatments, was returned to Iran for trial. The Shad died July 27, 1980, in an Egyptian military hospital near Cairo. The remaining 52 American hostages were released and left Teheran on January 20, 1981, after 444 days of captivity.
1980 - Republican Ronald Reagan won the White House defeating President Jimmy Carter. Reagan was the 40th President of the U.S., carrying 44 states winning by a landslide (489 electoral votes to Carter's 49). The popular vote was Reagan, 42,797,153; Carter 34, 424,100, John Anderson, independent candidate 5,533,927. In congressional elections, the Republicans picked up 12 Senate seats for a 53-46 majority, with one independent seat. In the House, the Democrats lost 33 seats but kept a majority of 242-192, with one seat going to an independent. On January 20, as Ronald Reagan was being inaugurated, Iran released the 52 captives seized at the U.S. embassy in Teheran, in Nov. 1979, thus ending the Iranian hostage crisis.
1980 - Japan's all-time HR hitter, Sadaharu Oh, retires from professional baseball. The Tokyo Yomiuri Giants' first baseman hit a record 868 home runs in his 22-year playing career.
1980 – Steve Carlton of the Philadelphia Phillies won his second consecutive Cy Young Award. He posted a 24-9 record with a 2.34 ERA and a league-leading 286 strikeouts. He joined Sandy Koufax, Tom Seaver and Jim Palmer as the only three-time Cy Young Award winners to that point.
1981 - “The Fall Guy” premiered on TV. An hour-long adventure series, the story centered around a Hollywood stuntman, Colt Seavers, played by Lee Majors, who also moonlighted as a bounty-hunter, catching bail-jumpers. It also starred Douglas Barr, Heather Thomas, Jo Ann Pflug, Markie Post and Negra Volz. Lee Majors also sang the theme song for the show.
1983 - Top Hits
“All Night Long” (“All Night”) - Lionel Richie
“One Thing Leads to Another” - The Fixx
“Telefone” (“Long Distance Love Affair”) - Sheena Easton
“Islands in the Stream” - Kenny Rogers with Dolly Parton
1983 - The temperature at Billings, MT soars to 77, a new record for the data and month
1984 - Seattle sets an NFL record by returning four interceptions for touchdowns in a 45-0 victory over Kansas City. Dave Brown scores twice while Kenny Easley and Keith Simpson also return interceptions for touchdowns. All of the scores are longer than 50 yards.
1987 - The NBA announces four new franchises; Charlotte (Hornets) and Miami (Heat) for 1988 and Minneapolis (Timberwolves) and Orlando (Magic) for 1989.
1987 - Thirty-two cities in the eastern and south central U.S. reported record high temperatures for the date. Highs of 74 degrees at Portland ME and 86 degrees at Fort Smith, AR equaled November records. It was the fourth day of record warmth for Beckley, WV, Memphis, TN and Paducah, KY. A cold front ushered much colder air into the north central U.S. Gale force winds lashed all five Great Lakes.
1989 - Snow and high winds plagued parts of Colorado and Wyoming. Winds gusted to 71 mph near Wheatland, WY, and reached 80 mph west of Fort Collins, CO. Up to five inches of snow blanketed Yellowstone Park, WY closing many roads. Snow also blanketed northern Minnesota, with seven inches reported at Baudette.
1991 - The Ronald Reagan Presidential Library & Museum was dedicated by five American presidents (the first gathering of five U.S. presidents). Reagan, President George Bush, and former presidents Jimmy Carter, Gerald R. Ford and Richard M. Nixon attended the ceremonies in Simi Valley, California.
1991 - Top Hits
“Romantic” - Karyn White
“Cream” - Prince & The N.P.G.
“Can't Stop This Thing We Started” - Bryan Adams
“Anymore” - Travis Tritt
1991 - Bobby "Blue" Bland, Booker T. & The M.G.s, Johnny Cash, Jimi Hendrix, The Isley Brothers, Sam & Dave and The Yardbirds are elected to the Rock and Roll Hall of Fame.
1992 - Elton John and his songwriting partner Bernie Taupin sign a $39 million publishing contract with Warner-Chappell music -- the largest music publishing firm.
1993 - The NBA Board of Governors accepted a recommendation from the Expansion Committee to award a franchise to a Toronto group headed by John Bitlove, Jr. The team, later named the Raptors, began play in the 1995-96 season.
1997 - After an 18-month delay, Capitol Records releases The Beach Boys' "The Pet Sounds Sessions," a 4-CD boxed set which details the creation of The Beach Boys' album "Pet Sounds." Overseen by producer Brian Wilson, the collection allows the listener to hear a capella vocals from the master tapes and alternate mixes of the songs.
2001 - In Game 7 of a classic World Series, Arizona rallies for two runs in the bottom of the ninth, defeating the Yankees and their usually unbeatable closer, Mariano Rivera, 3-2. The four-year old Diamondbacks, the youngest franchise to win a Fall Classic, end New York's string of three consecutive World Championships. This was also the first World Series to have been played in November, delayed out of deference to those who lost their lives on 9/11.
2002 - Colorado Rockies right-hander Jason Jennings (16-6, 4.52) becomes first member of the Rockies to be selected by the BBWAA as the National League Rookie of the Year. The 24-year old right-hander receives 27 first-place votes from the 32 writers participating in the balloting.
2003 - Miami-Dade County Commissioners approved a plan committing $73 million in tax money toward a new Major League ballpark for the Marlins. The World Champions, who have agreed to change their name to the Miami Marlins if the city builds the ballpark, want to begin playing in the $325 million new park in 2007, but still doesn't have a plan for raising $137 million needed as part of their commitment.
2008 - Democrat Barack Obama was elected the first black President of the United States, defeating Republican John McCain; Democrats gained seats in the Senate and House.
2013 - A successor to the SR-71 Blackbird is being built by Lockheed Martin. The company's Advanced Development Programs, known by the alias Skunk Works, has taken on the challenge to build the SR-72, capable of flying at Mach 6 with expected delivery in 2023.
2013 - A private collection of 1,500 works of art plundered by the Nazi's and discovered in a Munich apartment in 2012, has an estimated worth of $1 billion; lost works include paintings by Matisse, Paul Klee, Marc Chagall and Picasso.
2014 - Tim Scott becomes the first African-American Senator in the south since the Reconstruction.
World Series Champions
2001 - Arizona Diamondbacks.
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