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Arlington, Virginia – – The Equipment Leasing Association's (ELA) 4Q 2003 Performance Indicators Report (PIR) shows new business volume grew at 4.0 percent when compared to the 4Q 2002. Total net portfolio slightly declined by 0.4 percent.
Other 4Q PIR Findings:
“All the key metrics are showing positive signs,” said Ralph Petta, Vice President of Industry Services for ELA. “The results show higher new business volume, stable net portfolios, lower charge-offs, higher credit approval ratios, and increased productivity. We expect this year to include more good news of this nature.”
Here are graphs that illustrate the changes:
Total Net Portfolio
Total New Business Volumes
Average Losses (Charge-offs) as a % of net receivables
Credit Approval Ratio
Total Number of Employees
The PIR study is conducted quarterly by ELA, which provides a variety of data, including customized market analyses, to ELA members and organizations involved in the $218 billion equipment leasing industry. The survey is conducted among approximately 20 major leasing companies on a quarterly basis, affording trend analysis across all major performance areas.
Because the same companies were tracked and used in the analysis, the PIR provides fairly reliable trend analysis. Each illustration reflects the data provided by those companies responding to that particular question. Typically, not every company polled responds to every question.
Organized in 1961, the Equipment Leasing Association (ELA) is the premier non-profit association representing companies involved in the dynamic equipment leasing and finance industry to the business community, government and media. As the voice of the leasing industry, ELA promotes the estimated $218 billion industry as a major source of funds for capital investment in the
DF and VF have merged in
"Today we are making an announcement on the continued refinement of our DF Platform. This will help us continue to focus our investment and efforts on the strategic and profitable growth areas within Diversified Flow.
"As part of this, please congratulate Rich Wargo who has accepted a position with GE Energy Financial Services and today will be his last day.
"Larry Kunkel will immediately assume responsibilities as the Broker Sales leader. He will report to Jim Madej.
"Overall DF is strong and growing at an expected rate of 10% in '04."
Growth Leader, Diversified Flow
Express Financial Solutions
847 283 6281
(Reportedly Rich Wargo was there for only 6 months, and another
source told us, "We heard this coming. The only problem with Larry is he is inundated with deals.” Some problem? editor)
Tax Me If You Can, Airs February 19,THURSDAY, PBS; Investigates Abuse of Tax Shelters
It was one of corporate America's biggest hidden profit centers in the past decade -- the tax shelter -- and it became so lucrative that last year it helped major U.S. companies cut their tax rate to just half of what they had historically paid, leaving individual taxpayers to make up the difference. The General Accounting Office estimates that illegitimate tax shelters cost the government more than $85 billion in recent years.
"Anything that's not being paid that should be paid, that's basically what the honest taxpayer is making up," asserts Charles Rossotti, a Republican businessman who became commissioner of Internal Revenue in 1997 and spent five years battling bogus shelters. Rossotti estimates that because the government is not collecting all that is owed -- the biggest piece of which is illegitimate tax shelters -- everyone else is paying 15 percent more than they should.
In "Tax Me If You Can," airing Thursday, February 19, at 9 P.M. on PBS (check local listings), FRONTLINE® correspondent Hedrick Smith investigates the rampant abuse of tax shelters since the late 1990s. Through interviews with government officials, tax experts, and industry insiders, Smith uncovers an avalanche of bogus transactions created by some of
In "Tax Me If You Can," Smith follows the tax shelter trail to some surprising places. Smith discovers that sewer pipes in the city of
It was a deal that
"Amazingly, in 2002 -- even though it reported $4 billion in profits -- [Wachovia] reported that it didn't pay any taxes," McIntyre tells FRONTLINE. "They worked it by sheltering all of their income. They said they saved $3 billion in taxes over the last three years from leasing -- huge write-offs."
"Tax Me If You Can" also reveals how some of
FRONTLINE's Smith notes, "Chasing bogus tax shelters for the IRS was like a game of cat and mouse. The IRS had a terrible time finding them because they were hidden deep in tax returns. Once the IRS spotted one type of shelter and issued a regulation to block it, the shelter promoters had designed a new one. The IRS was forever playing catch-up."
"Tax Me If You Can" concludes by reporting that while the Republican-controlled U.S. Senate has passed broad tax shelter reform legislation, both the Bush administration and private sector companies, such as accounting and leasing firms, oppose a Senate-backed provision requiring that shelters have economic substance and genuine business purpose to be legal. The House of Representatives has so far declined to pass such legislation, which remains bottled up in the Ways and Means Committee.
"You're talking about powerful accounting firms, powerful legal firms, powerful investment bankers in a conspiracy to promote these tax shelters," declares Senator Chuck Grassley (R-Iowa), chairman of the Senate Finance Committee, who sponsored the Senate bill. "They also have a fourth arm. They hire some of the most powerful lobbyists in town to work against this legislation."
Equipment Leasing Association Responds to Treasury Department Testimony
Association Disputes $750 Billion Number for “SILO” transactions
Aggregate leasing industry data clearly indicates that the value of assets involved in the types of transactions described by the Treasury Department is estimated to be $60-80 billion over a four year period. The Equipment Leasing and Finance Foundation's 2003 State of the Industry Report estimates the size of the entire leasing industry to be $218 billion in 2004.
“Treasury is clearly overstating the size of these types of transactions, which account for only about 10% of all leasing transactions. We question how Treasury came up with their number, which more closely represents the size of our entire industry,” ELA President Michael Fleming. The association also expressed its willingness to work with Congress as it considers legislation in the tax-exempt leasing area.
About The Equipment Leasing Association
Organized in 1961, the Equipment Leasing Association (ELA) is the premier non-profit association representing companies involved in the dynamic equipment leasing and finance industry to the business community, government and media. As the voice of the leasing industry, ELA promotes the estimated $208 billion industry as a major source of funds for capital investment in the
ELA provides its members with comprehensive services, assists in the resolution of industry issues, educates financial decision-makers on the benefits of leasing and promotes high standards of business practices within the industry. ELA maintains an informational portal for financial decision-makers to learn more about leasing and find a leasing company at http://www.LeaseAssistant.org. Headquartered in
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ROSLYN HEIGHTS, N.Y., -- Repossessions of trucks and trailers declined throughout all four quarters of 2003, signaling good news for the U.S. trucking industry, according to Nassau Asset Management's NasTrac Quarterly Index (NQI). In other positive economic trends, repossessions involving printing presses and construction equipment dropped off during the final three quarters. Still, 2003 was not a turnaround economic year for all types of equipment repossessions.
"Just as the overall economy strengthened in 2003, we noted significant improvements in three of the five top equipment repossession categories that we resell -- trucks, printing presses, and construction. But 2003 was not completely rosy when you analyze repossessions of some other types of equipment," says Ed Castagna, senior vice president of Nassau Asset Management.
"While there were 46 percent fewer repossessions of machine tools overall in 2003, they had a roller-coaster year -- a very strong start followed by a weaker showing in the final three quarters. This may reflect the uneven recovery of the manufacturing industry as a whole. Members of the Turnaround Management Association, who are corporate renewal specialists, recently picked manufacturing as one of the industries that suffered the most during 2003," Castagna explains. "In addition, there were actually more repossessions of medical devices in 2003 than in 2002. This may have been due in part to continuing regulatory and insurance pressures on the industry."
Nassau Asset Management has tracked equipment for several decades as a function of its nationwide remarketing operation, which resells all types of assets including trucks, construction equipment, printing presses, machine tools, medical devices, and buses. The company in 2003 launched NQI, which reports on equipment types generating the greatest volume of liquidations.
NQI's public data provides a snapshot of recent recovery and sales activity compared with the same time frame a year before, helping equipment leasing and finance companies forecast current market conditions so they can evaluate the strengths and weaknesses of their portfolios. When viewed over time, NQI also can be leveraged as one of several components to help gauge the economic health of individual industry sectors.
Top Repossessions in 2003
The NQI 2003 year-end analysis reports on trucks/trailers, printing presses, medical devices, machine tools, and construction equipment. These were the top five repossessed capital assets in 2003, according to
Castagna says the 2003 data, when compared with 2002, indicates:
* a 56 percent overall decrease in repossessions of trucks and
trailers. Trucks and trailers were the only one of the five top
equipment categories tracked that showed improvement over all four
quarters. Other positive trends within the industry include the
growth in commercial trucks sales over the latter part of 2003 and
projected into 2004, according to the Truck Renting and Leasing
* a 63 percent overall drop in repossessions of printing presses.
Printing presses overcame a poor showing in Q1 2003 (up 141 percent
compared with Q1 2002) to improve over the last three quarters of
the year. This correlates with findings from the National
Association of Printing Leadership (NAPL), which reported in
November that the printing industry was "finally showing signs of
what may be a sustainable upturn, following more than two years of
steep and broad sales declines."
* a 24 percent overall decline in repossessions of construction
equipment. Construction equipment had a rough first quarter, (up
452 percent from Q1 2002) but improved over the final three
quarters. Other signs of a strengthening construction industry
include a U.S. Commerce Department report released Feb. 2 that
showed construction spending in January rose for the seventh
* a 16 percent overall increase in repossessions of medical devices,
despite a strong first quarter (down 63 percent from Q1 2002). This
may reflect a number of pressures within the industry. A 2003
survey of members of the Advanced Medical Technology Association
(AdvaMed), for example, painted a picture of "a highly competitive
industry that is increasing its focus on developing next-generation
and breakthrough technologies. The findings also paint a picture of
an industry that is encountering significant FDA regulatory hurdles
in getting these advances approved as well as intense pressure to
assure that their technologies are cost saving or cost effective."
* a 46 percent overall decrease in repossessions of machine tools.
Repossessions of machine tools dropped dramatically in Q1 (down 76
percent from Q1 2002), increased slightly by 4 percent in Q2
compared with the same timeframe the previous year, then jumped
significantly during the final two quarters (up 83 percent from Q3
2002 and 52 percent from Q4 2002). Despite some positive news in
the machine tool industry during 2003, including reports of
increased demand in November, members of the Turnaround Management
Association recently picked manufacturing as one of the industries
that suffered the most during 2003.
Readers should keep in mind that the assets NQI covers may change from quarter to quarter since
To view NQI charts on repossessions as they are available, please visit the Web sites of equipment leasing and finance industry trade journals or contact
Nassau Asset Management of Roslyn Heights, NY, has been providing full- service asset management, including asset recovery, collections, remarketing, full plant liquidations, and appraisals for more than 25 years to the equipment leasing and finance industry.
For more information, please visit www.nasset.com or call 1-800-4.NASSAU.
### Press Release ###############################
Eagle Broadband, a leading provider of broadband and communications products and services, announced the appointment of Don Bresina, formerly with Koch Industries and Crocker National Bank, as general manager of security and financial services, effective immediately.
In this newly created position, Bresina will report directly to CEO Dave Weisman and will be responsible for leading Eagle's security division, the company's strategic business investment and M&A activities as well as assisting Eagle's broadband customers with their financing needs. In managing Eagle's security business, strategic investments and financial services functions, his responsibilities will include:
Full profit-and-loss responsibility for Eagle's security business with a focus on rapidly growing subscribers nationwide (both standalone and as part of our “four-play” suite of Bundled Digital voice, video, high-speed data and security services).
Evaluating, structuring and financing strategic investment, mergers and acquisition opportunities that can drive short- and long- term revenue and earnings growth.
Assisting Eagle's broadband municipality, utility district, real estate developer and hospitality customers with a comprehensive range of public and private financing, underwriting and leasing services.
“Don brings a truly unique combination of senior executive management, financing and strategic investment experience to Eagle Broadband,” said Weisman. “He has a proven track record of growing businesses and creating value for investors and shareholders. With a blue chip public and private sector client list, deep investment banking relationships, access to a myriad of capital sources and the knowledge and experience to structure and close innovative accretive transactions, he brings a range of strategic capabilities to Eagle enabling us to better meet customer needs and achieve our aggressive revenue and profit goals.”
“I have been very impressed with Eagle's vision, their team and industry-leading capabilities and am very excited about joining the company,” said Bresina. “Eagle has gained tremendous momentum and is in a unique position to capitalize on its strong partnerships and highly competitive product portfolio. I look forward to working with Dave and the entire Eagle team to fully capitalize on the company's terrific market opportunities,” Bresina added.
Bresina brings more than 25 years of proven executive management and financial experience growing and operating businesses in telecommunications, electronic security, energy, merchant banking, public and private financing, and equipment leasing. He has led or participated in transactions totaling more than $5 billion. Bresina currently leads a private investment group, Sweetwater Ventures, LLC, focusing on strategic investments in electronic alarm monitoring and will continue to serve as its Chairman. Sweetwater has made five acquisitions in the past 18 months, growing to one of the top 50 (out of more than 14,000) alarm companies in the
Prior to Sweetwater, Bresina held senior executive positions at Koch Industries, Inc., a $35 billion private energy and commodity trading company which served large consumers of natural gas and power. While at Koch he developed commodity-based trading, hedging and asset optimization strategies for industrial customers, investor-owned and municipal utilities and cooperatives. Bresina-led investments included profitable ventures in energy development and technology and specialty finance and he also managed a $255 million private equity investment fund. He served on the boards of directors of several portfolio investments; as executive vice president of $2 billion Koch Energy, Inc.; as president of Koch Industrial & Utility Services, Inc.; and as managing director of Koch Ventures, Inc.
Bresina also was president and founder of Public Leasing Corporation which provided financing and leasing services for state and local governments, municipalities, public utilities and educational institutions. At Public Leasing, he led more than 15 equity investments and more than 100 debt transactions. Public Leasing was also was selected as a joint marketing partner by Pacific Bell to provide financing to state and local governments for telecommunications services. While at Public Leasing, he developed an innovative approach to the securitization of telecommunications services as an emerging securitization asset class by issuing Centrex contract-backed bonds and assisted a number of California state and local governments with a range of financing needs. Bresina was also president of R.H. Moulton an underwriter of municipal and government securities which he grew to become the nation's 10 largest underwriter of multifamily housing bonds. Bresina also was vice president/manager of the capital markets division at Crocker National Bank where he led the municipal and
Bresina holds a B.S. in Business Administration and Accounting from the
For more information about Eagle Broadband, visit www.eaglebroadband.com.
#### Press Release ##########################
Monthly AutoVIBES Report Provides Demographics of Vehicle Shoppers
Before Cars Hit Marketplace
IRVINE, Calif., -- AutoVIBES, a monthly automotive omnibus study from Harris Interactive(R) and Kelley Blue Book tracking new vehicle nameplates, now provides customized shopper profiles for vehicle and vehicle segments before the first vehicle is ever sold.
Since October of 2003, AutoVIBES has tracked car shoppers' awareness, attribute ratings, favorability and buying intentions of new vehicle nameplates before they hit the marketplace. Detailed demographic information is collected as part of the study allowing Harris Interactive and Kelley Blue Book to identify profiles of shoppers of each new vehicle. Additionally, data can be compiled and trended beginning several months before a vehicle is sold and tracked all the way through its consumer introduction and sale.
"Many marketers look at the demographics of vehicle registrations months after a car has been in the consumer marketplace to determine whether or not it's being purchased by its intended segment," said Rick Wainschel, director of marketing research at Kelley Blue Book. "Through AutoVIBES, manufacturers and vehicle marketers can see intender profiles long before the first car is ever sold."
SAMPLE DEMOGRAPHIC DATA AVAILABLE
Demographic Information by Make/Model
Chevy Aveo: 41% of those considering an Aveo are age 45 or older
Ford Freestar: 44% of Freestar considerers do not have kids under the
age of 18 living in the household
Kia Amanti: 20% of those considering an Amanti are African American
Nissan Pathfinder Armada: 52% of shoppers considering the Armada
Scion xA: 75% of xA intenders are male and 41% are age 45 or older
- Above data is a compilation of results from
AutoVIBES October 2003 through January 2004.
DEMOGRAPHIC INFORMATION BY VEHICLE SEGMENT
Among those who intend to buy a hybrid vehicle:
61 % are men
71 % are age 35 or older
56 % are college graduates
35 % have an annual household income under $50,000
75 % are Caucasian
83 % are considering a
61 % are considering a Honda
- Above data is a compilation of results from
AutoVIBES October 2003 through December 2003.
AutoVIBES is a monthly omnibus survey of 1,500 - 2,000 in-market vehicle buyers who plan to purchase or lease a new vehicle within the next 12 months. The survey is conducted on Kelley Blue Book's Web site, (www.kbb.com) the most visited Web site among in-market vehicle buyers, and is designed and analyzed jointly by Harris Interactive and Kelley Blue Book Marketing Research. Based on the first several months of AutoVIBES, 15% of omnibus respondents are within one week of purchasing or leasing a new vehicle and 50% are between eight and 90 days of purchasing or leasing a new vehicle.
"AutoVIBES truly offers a prescient view of consumer attitudes and vehicle buying intentions in this ultra-competitive
For more information on AutoVIBES or obtaining customized demographic intention profile reports for specific makes, models or vehicle segments, contact Harris Interactive or Kelley Blue Book at: 1-877-919-4765, email@example.com or firstname.lastname@example.org.
About Harris Interactive(R)
Harris Interactive (www.harrisinteractive.com) is a worldwide market research and consulting firm best known for The Harris Poll(R), and for pioneering the Internet method to conduct scientifically accurate market research. Headquartered in
To become a member of the Harris Poll Online(SM) and be invited to participate in future online surveys, visit www.harrispollonline.com.
About Kelley Blue Book (kbb.com)
Kelley Blue Book is the most trusted vehicle information resource by both consumers and the auto industry, providing research tools and up-to-date pricing on thousands of new and used vehicles, including the company's New Car Blue Book Value, which reveals what a new car is actually selling for. Since 1926, car buyers and sellers have relied upon Kelley Blue Book for authoritative and unbiased information to make well-informed automotive decisions. The company reports vehicle prices and values via products and services including the famous Blue Book Official Guide(TM), software and Internet site, kbb.com. Kbb.com has been rated the No. 1 automotive information site by Nielsen//NetRatings and No. 1 and first visited automotive site by J.D. Power and Associates five years running. No other medium reaches more in-market car-buyers than kbb.com; one in every four American car-buyers complete their research on kbb.com.
SOURCE Kelley Blue Book
CO: Kelley Blue Book; Harris Interactive
Web site: http://www.hieurope.com
### Press Release ##############################
Short-term T-bill rates dip http://www.boston.com/business/markets/articles/2004/02/18/short_term_t
Fannie Mae Jan duration gap at minus one month
Two banks offering small businesses free checking http://www.boston.com/business/globe/articles/2004/02/17/two_banks_offering_
Court upholds do-not-call list http://www.boston.com/business/globe/articles/2004/02/18/court_upholds_
Tyco Officer Tells of Board Reaction to Fee http://www.nytimes.com/2004/02/18/business/18tyco.html?pagewanted=all
Accusations against Tyco executives
Tyco probes alleged improper payments
Survey of about 900 people age 50 and older
Working on wellness http://www.signonsandiego.com/news/business/20040217-9999-1b17obesity.html
Strong sales boost Deere profits 151 percent in first quarter
Bonds's Trainer Admitted Giving Steroids to Major League Players
Rodriguez T-Shirts a Hot Item http://www.nytimes.com/2004/02/18/sports/baseball/18UNIF.html
Greg Maddux Signs Deal With
German scientists say they have come up with a way to stop wine tasting of cork.
1571- A group of Spanish Jesuits in the
1668-Protest against slavery of importance was made by the German Friends, or Quakers, at a meeting in
in the new colonies.
1685 -Explorer Renee-Robert Cavelier Sieur de La Salle established a French colony at
1795- George Peabody birthday, American merchant philanthropist, born at
1834- 1st US labor newspaper, "The Man", published,
1839 -Detroit Boat Club forms (still exists today). http://www.detroitboatclub.com/
1841- First Continuous filibuster in the Senate began over the issue of dismissal of the printers of the Senate. The filibuster continued until March 11. The first extended filibuster, debating the establishment of a national bank, began on June 21 and lasted fourteen days. First continuous filibuster in US Senate began, lasting until March 11
1848- Louis Comfort Tiffany birthday, American artist, son of famed jeweler Charles L. Tiffany. Best remembered for his remarkable work and with decorative iridescent “vavrile” glass. Born at
1859-Scholem Aleichem birthday , pen name of Russian-born author and humorist Solomon Rabinowitz. Affectionately known in the
Mark Twain,” Died at
while he was pruning the roses for the winter with his wife, and was inaugurated at
1865 - In the American Civil War, the Unionist fleet took the town of
1874- Mary Williams Dewson birthday, political reformer. Her studies helped pass the Massachusetts minimum wage law in 1913 (the first in the U.S.), instrumental in the passage of New York State's unemployment insurance program and helped establish minimum wage laws in other parts of the country. While superintendent of the
1882- violinist Alfred De Seve, a native of
1885 - Mark Twain's Adventures of Huckleberry Finn was published in the
1892-Wendell Wilkie birthday, American lawyer, author, public utility executive and politician, born at Elwood, IN. Presidential nominee of the Party in 1940. Remembered for his book, ‘One World,” published in 1943.”
He ran for the nomination in 1944 but suffered a series of four heart
attacks and lost to New York Governor Thomas Dewey.
1908 - For the first time,
1928- Tenor Sax player Harold Land birthday,
1924-Bix Biederbecke and the Wolverines cut first records in
1930-Cow milked while flying in an airplane. Elm Farm Ollie became the first cow to fly in an airplane. During the flight, which was attended by reporters, she was milked and the milk was sealed in paper containers and parachuted over
1930-Planet Pluto discovered. Pluto, the ninth plant, was discovered by astronomer Clyde Tombaugh at the Lowell Observatory at
1931-Toni Morrison birthday, Nobel Prize-winning novelist (Beloved, Jazz Tar Baby, Sual), born
1932 - In
1938 –“The Big Broadcast of 1983” was released, one of the most famous motion pictures of all time hit the silver screen, as "The Big Broadcast of 1938" was released. The film featured Bob Hope singing his version of, "Thanks for the Memory", which got an Oscar for Best Song. Also starring in the film were Dorothy Lamour and W.C. Fields.
1939- Golden Gate International Exposition opens on
1942 – The Mills Brothers on Decca records recorded one of their three all time greatest hit, "Paper Doll". The other two classics by the Mills Brothers are: "You Always Hurt The One You Love" (1944) and "Glow Worm" (1952).
Don't Fence Me In - Bing Crosby & The Andrews Sisters
Accentuate the Positive - Bing Crosby & The Andrews Sisters
I Dream of You - The Tommy Dorsey Orchestra (vocal: Freddy Stewart)
I'm Losing My Mind Over You - Al Dexter
1949 - On CBS radio, "Yours Truly Johnny Dollar" debuted on CBS radio, starring Charles Russell as the insurance investigator. The show was the last of radio's major, dramatic network programs. Johnny Dollar continued until 1962.
Don't Let the Stars Get in Your Eyes - Perry Como
Till I Waltz Again with You - Teresa Brewer
Keep It a Secret - Jo Stafford
I Let the Stars Get in My Eyes - Goldie Hill
1953 – 3D, the new fad in
seen through Polaroid viewers. Historians believe the advancement of
color, sound, and now 3-D was to combat the emergence of television,
which they thought would put the motion picture industry out of business.
1953 - Lucille Ball and Desi Arnaz signed a contract worth $8,000,000 to continue the "I Love Lucy" TV show through 1955. The deal was the richest contract in television. “Babaloo!”
The hour TV Show: http://timstvshowcase.com/lucydesibak.jpg
1953-Robbie Bachman birthday, drummer for Bachman-Turner Overdrive, was born in
1955-John Travolta birthday; dancer, singer, actor John Travolta ( Pulp Fiction, Look Who's Talking, Urban Cowboy, Saturday Night Fever, “Welcome Back Kotter) Born, Englewood, NJ.
1956-The Platters hit "The Great Pretender" peaks at #1 on the pop chart.
1956-Pat Boone's cover version of Little Richard's "Tutti Frutti" hits #12 on the pop chart.
1957-Birthday of Vanna White ( Wheel of Fortune), born
1959-some of the higher elevations of
1960-The first artificial ice skating rink of Olympic size was formally opened by Vice President Richard Milhous Nixon at Squaw Valley, CA., for the Eighth Olympic winter Games. Freezing brine was piped into the rink through 70 miles of steel tubing. It had 300 feet of roof floating on cables suspended from 80-foot steel and concrete pillars.
1960 - The VIIIth Winter Olympic Games were opened in
Shop Around - The Miracles
Calendar Girl - Neil Sedaka
1964 - "Any Wednesday" opened at the Music Box Theatre in
1965 -- Civil rights worker Jimmie Lee Jackson is beaten & shot by state police in
Everyday People - Sly & The Family Stone
Touch Me - The Doors
Build Me Up Buttercup - The Foundations
Until My Dreams Come True - Jack Greene
1970 -- Federal jury finds the "
1972 – Death Penalty declared by the California Supreme Court to be cruel and unusual punishment in violation of the state constitution. 107 inmates were taken off death row. Among those spared by the ruling was Charles Manson.
1972- Neil Young receives a gold record for "Harvest," the only Number One record of his lengthy career. The album includes the Number One single "Heart of Gold."
1973- the syndicated radio show "The King Biscuit Flower Hour" debuted with Blood, Sweat and Tears and a then- unknown Bruce Springsteen. The program, which is still on the air, would go on to feature live performances from some of the greatest names in rock, including the Rolling Stones, U2, Elton John and David Bow. 1973---Richard Petty, the "King of Stock Car Racing," won the Daytona 500 before a crowd of over 103,000 spectators, marking the first time a stock car race had drawn over 100,000 spectators. No longer would there be questions about NASCAR's mainstream popularity.
Torn Between Two Lovers - Mary MacGregor
New Kid in Town - Eagles
Blinded by the Light - Manfred Mann's Earth Band
Near You - George Jones & Tammy Wynette.
1979-Richard Petty became the first man to win six Daytona 500s. Winning the most prestigious event in any sport six times is enough to earn the nickname "The King," but Petty is perhaps most famous for his 1967 season in which he won twenty- seven of forty-eight races, including a record ten straight victories. In a sport where mechanical failure is commonplace, Petty's total domination was seen as superhuman. "The King" came from royal stock. His father, Lee Petty, was the first man to win the Daytona 500.
1979 -52º F (-47º C), Old Forge NY (state record)
1979 --Miniseries "Roots: The Next Generations" premieres on ABC TV.
There is controversy that the original story was plagiarized from a 1967 novel by white author Hal Courlander. This miniseries two years after the original concerns
Arthur Haley's actual life, and begins where the original series left off, 1882.-
1993 -Howard Stern's radio show begins transmitting to
(this is x-rated, and typical Howard Sterns: http://www.howardsterndivorce.com/
1980 -a series of 6 major storms hit
1981 – The first budget of United States President Reagan proposed the largest tax cuts and spending curbs ever for an administration. In his first State of the Union message, Pres. Reagan called for cuts of $41,000,000,000 in the budget President Carter had submitted. He also proposed a 10% income tax cut in each of the next three years, an increase of about $5,000,000,000 in defense spending and more liberal depreciation rules for business.
1983 -- The Wah Mee Massacre in
1984 –Reed Larson,
1984 -a major storm system dumped heavy snow in the Midwest with the heaviest amounts in
Careless Whisper - Wham! featuring George Michael
Method of Modern Love - Daryl Hall John Oates
Make My Life with You - The
1985 –Greg Louganis: When he received the James E. Sullivan Award of the Amateur Athletic Union, today, diver Greg Louganis was recognized as the top amateur athlete in the
1987 – Girl Scouts Change Color of Uniform: The executives of the Girl Scout movement decided, because the older girls wanted a change, that it was time to change the color of the scout uniform from the traditional Girl Scout green to the newer Girl Scout blue.
1992 -a thunderstorm spawned an unusually strong tornado for so far north for the time of the year in southern Van Wert County in
1995-Jansen Wins Gold: American speed skater Dan Jansen won a gold medal in the 1,000 meter race at the Winter Olympics in
1995-Hootie and the Blowfish's "Hold My Hand" peaks at #10 on the pop chart.
1997 – Pat Boone Cancelled: Trinity Broadcasting Network, a U.S. Christian TV net, cancelled Pat Boone's weekly gospel music show after he appeared in black leather and fake tattoos on the American Music Awards show. The network said it received thousands of protest phone calls and letters from its ‘prayer partners'. Boone explained that his garb was designed to promote his album "In a Metal Mood: No More Mr. Nice Guy".
1998-New standard for 56k modems: As speeds from ISDN connections, DSL, and now cable were threatening dials-up, the two major rival modem makers 3Com Corporation and Rockwell International announced a new standard for 56K modems. There still was confusion and it was hoped the new “high speed” would boost sales and overcome the growing competition. It battle over the protocol gave
the rivals more sales, enabling them to lower prices even further.
1998 – Harry Caray, long-time Chicago Cubs broadcaster died at the age of 83; in Rancho Mirage,
1999 – Dr.Ross Leaves “ER:” The much-anticipated departure episode on NBC's ER of Dr. Doug Ross, played by George Clooney, aired, and was the top-rated show for the week and earned a higher Nielsen rating than it had in many months; each ratings point represents 994,000 households. ER earned a 23.8 rating, watched in 23.7 million homes.