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Equipment Sales Representative
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Equip.
Leasing Sales Rep: Strong sales and bus. dev. skills
needed. Dev/manage portfolio, initiate bus. in upper Midwest .
3-4 yr leasing exp. www.associatedbank.com About
the Company: Associated
Banc-Corp is a diversified multibank holding co., w/ $15.5
billion in total assets. Headquartered in Green Bay, WI . Associated
has more than 200 banking locations across WI, IL and MN. |
Headlines---
Classified
Ads-Asset Management
Two
Bulletin Board Complaints
---Union
Capital, Irvine, California
Complaint Bullletin
Board Postings
Archives—June 1,2001---Tyco
Purchases CIT
NEC Financial Services Selects
eCredit
Fitch Downgrades DVI Securitizations
######## surrounding the article denotes it is a “press
release”
Classified
Ads-Asset Management
Asset Management: Austin, TX. 20+ years exper. lease/finance. P & L responsibility, strong credit & collection management, re- marketing& accounting. Computers, construction, auto & transportation. Both commercial/ consumer portfolios.
Email: kmalone@austin.rr.com
Asset Management:
Bloomfield Township, MI.
15+ yrs experience
asset management and credit analyst.
Leadership and training
skills. Audited returns, max residual, lease end
and resale negotiator.
E-mail: cmcozzolino@msn.com
Asset Management:
Chicago, IL. MBA, 15+ years exp. Long history of success in maximizing
residual position through outstanding negotiation skills & lease
contract management. Third party re-marketing, forecasting etc... email:
jgambla@aol.com
Asset Management:
Oxnard-Hollywood Beach, CA.
19 Years w/Equity
Analysis/Placement and Residual Forecasting of Computer Assets. Portfolio
Manager for Two Major Lessors and Strong Analyst Background w/Leading
Information Services Firm.
email: GregoryMLorenz@aol.com
Asset Management:
Princeton, NJ.
Asset management/credit/collection
20+ years experience in equipment financing. Last five years in Asset Management including remarketing, end of lease negotiations, equipment and market evaluations
E-mail: bgaffrey@earthlink.net
To view 117 Job Wanted ads, please go to:
http://64.125.68.90/LeasingNews/JobPostings.htm
Leasing News helps people find work. We have many testimonials.
Don’t give up hope. We apologize
for e-mails from “super brokers”
or others soliciting you to work for “free.” You never know what
will happen, but remember: “Activity leads to Activity.”
This was my father’s advise when I was looking for a job and
it worked. I took a job
I didn’t really want, but needed the money,
and it changed my luck. Editor.
To place a “free” ad, please go here:
http://64.125.68.90/LeasingNews/PostingForm.asp
--------------------------------------------------------------------------------
Economic
Events This Week
Tuesday
June 1
Construction Spending: April
Thursday
June 3
U.S.
Productivity: First Quarter
Factory
Orders: April
Weekly
Jobless Claims
Friday
June 4
Unemployment: May
--------------------------------------------------------------------------------
Harmon
on His Way Back!!!
El Camino Resources in Woodland Hills, California, was one of the largest independently owned
leasing companies in 2000. It had 1300 employees with over $50 million
a month in originations with more than $1.3 billion in assets installed
on four continents, as well as technology services in both the U.S.
and Europe. Dave Harmon was one of the founders of the
company and was instrumental in its growth that was accomplished over
a twenty year period.
In the year 2000
the El Camino’s bank lines were pulled with the company being forced
into liquidating at any costs to repay the lines.
Harmon worked to repay the obligations and was successful in
doing so without totally closing the company.
Today he is on his
way back up with 50 employees today, specializing in high technology
again, director leasing, looking at repeat customers, his direct salesmen
bringing in accounts, and selective brokers for “fair market value”
leases over $150,000.
Much of El Camino’s
business today comes from Mexico, where Harmon
started to re-build his portfolio.
He specializes in Latin America, but wants to get back into the
“operating lease” marketplace in the US..
El Camino specializes
in technology and is looks for companies that are dependent are dependent
on it. Part of the universe
is companies, such as internet providers, software developers as well
as users with global requirements.
El Camino provides
financial and technical service offerings to business enterprises in
the United States, Mexico and selective other countries in the Americas. In addition to its lease financing activities, El Camino also provides new and used IT equipment where appropriate.
Their website, www.elcamino.com
, states:
“El Camino Resources
gives you choices in client device selection, hardware support, financing
and asset management. We help you plan client strategy based on current
and expected needs, the state of the hardware and software industries,
current and emerging network technologies, budget and the skills of
your end users. If you prefer one or a few particular vendors, that's
fine with us. We are totally vendor independent. If you need information
about our field experience with a large range of client terminals, please
just ask.”
“It has taken me
three years to ramp it back up again, “ Harmon says. “ It has been a
to repay all of the banks from a shrinking asset base.
Restarting the leasing is also taking a good deal
of work in that the
IT leasing business has changed with a diminished volume of good business
remaining available to the independent lessor.
It is now a business of looking at and making very selective
credit decisions. By that I mean ones that
make sense, and if
not, collateralize them.”
He says he has very
good lines with key banks for
transactions, particularly in Mexico.
He wants to stay
independent.
The keys to his success?
“Work hard,” he answered.
“Have sales people that make great relationships with their customers,
and who do it right...treat the customer right. Explain the economic
benefits and find different ways to develop transactions...make it helpful
for the economic benefit of the customer.”
In Mexico, the company
went through a 12-month period of reduced activity, but is now a leader
in independent leasing. ECR has forged relationships with a number of
leading banks in Mexico, and has negotiated several bank lines for leasing
in excess of $20 million, as well as other partnering facilities. In
calendar year 2003, the Mexican operation achieved bookings for its
own account of over $20 million in new leased assets. This year, the
company has extended its reach with new partnering programs and expects
to book in excess of $65 million in new lease receivables.
David Lopez, ECR
country manager, reports “Due to the fast responding banking environment
in Mexico, ECR Mexico has grown organically without an equity infusion
or financial assistance from a U.S. parent. We expect to continue to
utilize our skills and market contacts to substantially grow ECR Mexico’s
leased asset base.”
According to Harmon,
“Our Mexico management team has forged strong and deep relationships
in Mexico with both our clients and financing partners. Recently – and
for the first time ever – we completed the discounting of lease receivables
in Mexico on a non-recourse basis.
“ This speaks to
the strengths of our Mexico operation, its management team, and the
maturing banking system in here.”
Harmon is on his
way back as he has recently announced his company will again write leases
in the U.S. His company has several banking and investor programs under
development, is in negotiations with leading world-scale financial organizations,
and expects to announce details over the near-term future. He states
his company emphasis will be the same as during the company’s previous
20+ years of operation: to write good leases with clients it expects
to service over many years.
He is looking for
good business, and new business
“We expect substantial
growth in leased assets in the U.S., in concert with partners utilizing
El Camino Resource’s expertise and asset management programs. If you
have an operating transaction over $150,000, give us a try.”
Two
Bulletin Board Complaints---Union Capital, Irvine, California
by Christopher Menkin, editor
Kathy Douke of Precision
Concrete Pumping, Citrus Heights, California. called in with the second complaint on May 20th,
Thursday and followed up with the signed agreement, copy of the check,
along with this
cover letter:
“I wasn't happy to say the least, to hear your news about
Union Capital. I have ordered a copy of my check and will forward as
soon as possible. I didn't tell you one very important thing about this lease - because Bryan
and Dan and John all told my vendor "TA Pump" that the lease
would fund they released the pump
to me on "good faith". I left a $20,000.00 check (that has
not been cashed) with the pump company to show my good intentions.”
I
plan on calling the Irvine Police Department today if the money does
not arrive today.
“Please advise what you think my next step should be.
“Thank you, Kathy Douke”
copy of signed proposal:
http://www.two.leasingnews.org/loose_files/Union%
20Capital/Precision_Proposal_from_Union_Capital.pdf
In the agreement was a clause, as in the first complaint,
“ Lessee, upon acceptance of this proposal, shall forward the Commitment
Fee to Lessor. The commitment
Fee will be applied to the first & last billing period upon lease
commencement. (Here
is the kicker:) In the event that the lease fails to commence, expenses,
not to exceed Ten Percent(10%) of the equipment cost, within seven(7)
business days. Expenses and
fees incurred are non-refundable.”
I had called the parties at Union Capital by telephone on
Friday, and sent e-mails. No
response. In the month of placing telephone calls, I never reached anyone
but voice mails, leaving messages. Only two calls out of the dozen or
more were returned in a conference call manner with several people talking
on the other side.
This time I left a voice mail that Leasing News was printing
the complaint next Tuesday, response or no response. The second complaint had been going on for
over a month, and may be more complicated, but this complaint from Precision Concrete Pumping was
“cut and dry.”
In less than an hour, I received a telephone call from Keith
Attlesey of Attlesey and Thomlison, who said he represented Union Capital.
I told him I was going to print the Precision Concrete Pumping
complaint as it was ready to go. He asked me to send a copy of what
I had received
and would look into it.
We then discussed the second complaint, where he again brought
up the agreement in the contract about the 10% expenses. Basically, I told him I did not think it would hold up in a court
of law as they would have to produce receipts
to a judge to prove the expenses. I told him I have appeared
as a
“legal witness” for over thirty years in court, have seen
over 500
such complaints here at Leasing News, and while I was not
an attorney, it was my experience that charging 10% as “expenses” would
not hold up in a court of law, unless you had receipts to
prove it.
He then said he thought Leasing News wanted to test this
in court. I suggested he have
a good retainer. He said he
didn’t need it since he had been representing Union Capital since the
year 2000, when he “...stole the account away from Ken Greene.”
He said some other things about Ken Greene.
I advised him that Ken Greene was working on an agreement
regarding expenses, but employed by ten “sponsors,” and that while he
was on the Leasing News Advisory Board, he does not review any story
or complaint before it is printed, nor does any of the advisory board. Furthermore, Leasing News has utilized five
attorneys, including Mr. Greene, who worked pro bono on the RW Professional
suit against us. As a point
of reference, Leasing News refers calls
seeking an attorney to our web site:
http://64.125.68.90/LeasingNews/JobPostingsAttorney.htm
As a side note, to
insure there was no conflict of interest, I spoke to Ken Greene about
this, who called Mr. Attlesey, who according to Ken Greene, denied what
he had told me over the telephone.
2:01pm the same afternoon, the follow fax was received from
John Wilcox of Union Capital:
“A quick note on
this complaint:
1) Customer has received a refund.
2) Lessee was approved (very good credit) but TA pump (collateral)
after further investigation was not approved.
3) Customer without our consent went down to pick up equipment. We
never authorized release in writing or verbally. She put $20,000 down
with the vendor to get equipment released.”
Kathy Douke told
us she now had a check in the next communication, less $750:
“First I would like
to relate one really crucial series of phone calls that occurred on
Friday May 14' after Bryan Scott telling me just the day before that
our lease would fund and that he would be calling our vendor prior to
us picking up the pump to assure them that our lease would be funding
the next day.
“Friday morning (after
driving 400 miles one-way from Sacramento on Thursday evening) we arrived
at TA PUMP located in Stanton, CA (Southern California) to discover
that Bryan did not call them with a purchase order. I must have made
half dozen phone calls to Bryan Scott and to the General Voice mail
on Friday to find out why he never phoned. TA PUMP relied on my word
that it was funding and made a decision to trust me that the loan was
going to fund either on that day or the next Monday, so released our
$50,000.00 custom concrete pump to me. As a show of good faith I did
leave the vendor with my check for $20,000.00 just in case something
happened and it didn't fund as promised. When Bryan finally did call
TA PUMP, he advised them not to release the equipment to me even though
I had sent them my check for $30,313.52 which had already cleared my
bank on 5 /13 /04!
This back and forth
kind of conversation went on the entire afternoon where Bryan or Dan
would tell me everything was fine and then they would turn around and
tell TA PUMP not to release the equipment (they did not know that I
had already taken possession). A final conversation between Dan and
my husband at 6:00 p.m. on Friday left us with the decision to continue
pursuing the lease since they had already cashed our $30,313. check.
“On the next Monday
(the 17') I had a conversation with both Bryan Scott and John
Wilcox and they assured me that they would both call TA PUMP to let
them know that the lease would be funding that week. Every day Bryan
would call to advise me of the progress and each time he would assure
me again that the lease would fund the next day - until Friday the 21st. That is when he told
me that he would be returning my money because he could not help me
with the lease.
“Per our telephone
conversation today, I am faxing you a copy of Union Capital's "Refund/Lease
Agreement" that was sent along with their check to me in the amount
of $29,563.52. Mr. John
Wilcox has provided a copy of the "agreement" and has highlighted
the areas where he believes the lease entitles them to some kind of
fee.
“Please
note his reasons — 1> Lessee Withdrawal Prior to Funding.
2> Vendor Declined 3> Lessee requesting refund
“1> Bryan Scott
called me on Friday 21" on or about 1:00 p.m. to tell me
that he was not going to be able to help me with obtaining a lease so
he would be refunding my "Commitment Fee" which would be mailed
the same day.
2> After I asked
him why he responded as follows: Sunbridge Leasing told him that after
doing some checking discovered that our vendor, TA PUMP was probably
going to go out of business due to customer complaints about their pumps
and the fact that their just wasn't that many of their pumps in the
industry.
3> Bryan Scott
told me that Union Capital would be refunding my "commitment fee"
since they were not able to help me with a lease.
“Since it was Union Capital that reneged on the agreement and not me I feel that the total amount of $30,313.52 should be refunded. They are not entitled to even $750 for any reason.
They should be
compensating me for the torment and torture they put me through not
to mention making TA PUMP believe that it was me that was lying to them
all along.
“Union Capital should
not be able to treat people this way nor should they be able to profit
from their deceit.
“If it weren't for
you and Cory at Business Finance.com I don't think my story would have
turned out as good as it is and I hope that no one else is taken advantage
of by Union Capital.”
Sincerely,
Kathy Douke
Precision Concrete
Company
PO Box 7087
Citrus Heights, Ca
95621
(916)
826-1719 cell or (916) 722-4499 bus.
kdoukel@comcast.net
The first complaint
came from David Nicol, owner of Azimuth Pavement Markings, San Mateo,
California from an incident that started late May,2003, after they received
this “pre-qualified Equipment Line of Credit” letter:
“Based on yew recent
payment history per company D&B, Union Capital is pleased to offer
a pre-qualified equipment line of credit to Azimuth Pavement Markings
in the amount of $150,000.00 (if your requirements exceed the pre-qualified
amount,, please let us know ) for upcoming equipment acquisitions.
“Some of our products
and service include
- Lease rates as low as 6.5 % (aoc)
- Wide Range of Credit Levels Considered
- No Age Restriction on Equipment, Terms up to 84 Months
- Quick Approvals
- Ready-Mix Trucks, Plants is our specialty!
“Union Capital is
a leading provider business –to- business
for the construction & concrete industry. For more information, please contact your account representative
or visit, our web site and apply online at www.unioncapital-llc.com
“Best Regards,
Bryan Gunn
Sr, Accountant Executive
Construction Finance Division
bgunn@unioncapital-llc.com
800-571-8828 toll
free
949-7894500, ext.
203
949-789-4508 direct
fax”
A proposal was generated
for $202,524:
http://www.two.leasingnews.org/loose_files/Union%
20Capital/Union_%20capital_proposal_July-7.pdf
A lease for $50,000
was secured with a leasing company (who’s owner, who did not want to
be quoted in print, would not consider
the $150,000” and
was surprised that Union Capital would continue
to pursue the matter. The complaint centers on this part of
Union Capital’s original
“approval.”
Tim Brooks, Chief Financial Officer, for
NLB Corporation
http://www.nlbcorp.com/ said Union Capital did not return
telephone calls, and in the beginning they
kept saying
they had an approval, but never sent a
purchase order
or gave him the source of the funds. The
topic of vendor recourse
never came up in any conversation with
Union Capital.
“Never asked me. The topic never came up,” he said. “ If it
did, I could have done it with any of the
leasing companies
we regularly work with. Why would we use them?
“In reference to the rental payments, yes,
they were making
them, and the credit of the payments were
part of the transaction,”
he explained. “ I never got a call from
Union Capitalabout it and no one discussed it with us. He just could
not afford to keep making
the rental payments. ”
Here is a copy of the rental payment made
by Azimuth Pavemement Markings:
http://www.two.leasingnews.org/loose_files
/Union%20Capital/rental-payments.pdf
December 4,2003 a
new proposal was signed for $150,000:
http://www.two.leasingnews.org/loose_files
/Union%20Capital/Union_%20capital_proposal_Dec-4.pdf
The proposal was
sent in with the dates of performance circled and an e-mail sent with
this paragraph:
“I do not want to
extend the agreement for another 40 working days as it says in the now
acceptance documents. I can only agree to this
if (the vendor) is
confident that they will be paid the $150,000.00 that
is owed by me.”
A copy of the e-mail
and proposal:
http://www.two.leasingnews.org/loose_files
/Union%20Capital/Email_from_David_Nickol.pdf
From this time period, Mr. Nicol states
he was never able to reach anyone at Union Capital. They did not return telephone calls. The
vendor says they did not return telephone
calls.
Bryan Gunn and John Wilcox at Union Capital
deny this, first stating the contract had not been met, meaning conditions
of the proposal,
such as vendor recourse. They then said they had an approval and
Mr. Nicol never signed the contract.
Mr. Nicol said he never received
a contract. The vendor was never informed a purchase order
was in the works. Union Capital did not
produce a contract or the source of their approval.
Telephone calls to Union Capital were not
returned to Leasing News and it was not until an e-mail was sent that
we would print the complaint without a statement, since it appeared
they had “no comment.” This
brought a telephone conference from John Wilcox
and Bryan Gunn, who denied everything.
After asking for a written
statement, they said they would get back.
Another telephone conference call was initiated by John Wilcox
and Bryan Gunn, who said
they had an approval, wanted to go ahead
on the lease, but Mr. Nicol
did not. Mr. Nicol said he had not heard from them and was tired
of all the promises and wanted his money
back. This was conveyed
to Union Capital, who then on May 14th
supplied the following:
“This letter is in response to a complaint
filed by Azimuth Paving Markings (APM). Our agreement dated December
4, 2003 will provide clarity on what transpired on this transaction.
The following is a summary of details pertaining to the processing of
this lease:
“1> Union Capital, LLC issued a check
in the amount of $3,094.38 to Azimuth Paving Markings. This refund was
to be forwarded for first and last payment on a $50,000 approval that
was funded through Amerifund. A copy of the lease documents for that
transaction has been provided for you (exhibit 1). A request for the
cancelled check has been made and we will fax that to you immediately
upon receipt.
“2> A balance of $17,636.22 was maintained
by Union Capital for the lease agreement dated December 4, 2003 for
a lease amount $150,000. A copy of that agreement has also been provided
for you (exhibit 2). The lease agreement required vendor recourse, additional
financial information and additional collateral. A conditional approval
was secured on the basis of our agreement with APM. Upon acceptance
of agreement, we proceeded to complete transaction. Most of the requirements
needed to complete transaction are listed on the first page of the agreement
which APM failed to provide or execute on.
“I have attached both exhibits to this
letter for your review. Union Capital, LLC at all times performed its
responsibilities required under the agreement entered in by both parties.
APM failed on many instances to complete transaction as documented.
“In closing we would like to proceed with
the transaction per last agreement or offer a refund that both parties
can agree to. We welcome the opportunity to present our case in more
detail by phone or appointment. If you have any questions regarding
this matter, please give me a call.
“Sincerely,
John Wilcox
Legal / Accounting Union Capital, LLC 949-789-4500,
ext. 201 949-789-4501 fax”
In trying to seek a clarification of the
letter, the voice mail message identified Mr. Wilcox in the “Credit
Department.”
Mr. Nicol again repeated he did not want
to have anything to do with
Union Capital and wanted his money returned.
He had lost two
major city contracts because he did not
have the equipment, he
told us, plus the rental payments he had
made on the equipment,
which was to apply toward the purchase.
Again, Union Capital said they wanted to
move forward on the lease
as they had an approval as all the conditions
had been met of
the proposal.
In the course of the conversation with
Keith
Attlesey of Attlesey and Thomlison, he had said that Union Capital had
made an offer of
a settlement. I told
him according to Mr. Nicol that was not true,
but that I would act as an ombudsman and see if I could help.
He then said, ”Then you are a legal mediator.” After a few words,
he suggested I offer $8,000 to Mr. Nicol.
Mr. Nicol wanted a full refund, reiterating
the jobs he had lost,
the turmoil he had been through, and anger
in dealing with
this company.
After several days of trying to reach Mr.
Attlesey and Union Capital
by telephone and fax, on May 25th,
John Wilcox of Union Capital
responded:
“This is in response to your last fax.
Yes, this is our response however Keith Attlesy is working on
the file and would like to provide a more comprehensive analysis of
file. In the meantime go ahead
and print
this one:
Dated May 25,2004
“This letter is a follow-up to our previous
correspondence regarding Azimuth Paving. After further investigation
on the file and events that transpired, the following facts should provide
additional clarity on this deal:
• The
first takedown was funded for 50K, of which $3,094.38 was forwarded
back to Azimuth Paving. A check Azimuth Paving still denies receiving.
A copy of the cancelled check was faxed to you yesterday.
• The
second takedown was approved and an agreement based on that approval
was signed and initialed by Azimuth Paving on December 4, 2003. The
agreement was clear and concise on the terms and conditions of approval.
Azimuth Paving backed out less than a week later. Confirmation of this
action was done by email.
• Azimuth
Paving was utilizing equipment for 9 months, refusing to pay rental
payments to the vendor violating an agreement signed with vendor.
- Agreement
signed allowed up to 90 days to complete transaction. Union Capital
had submitted and worked on second takedown for several months before
structuring deal for approval.
• Lessee
stated to Leasing News, that calls were never returned or communication
was poor. In actuality over 25 documented phone calls and emails were
made and information required by Azimuth Paving to be turned over, never
materialized.
• Agreement
states a 10% fee based on total equipment cost would be withheld in
the event of default. This clause was initialed by Lessee. Please see
a copy of agreement for clarification.
• Attorney
for Azimuth Paving never challenged the agreement and failed to discuss
a resolution on matter. Continued...
“Union Capital would like to make the following
concessions:
1) Provide
a lease on any equipment needed or
2) Offer
a refund that is fair and equitable for both parties.
“Union Capital has also forwarded this
file to our General Counsel for review. We would like to reach a resolution
quickly so that both sides can move on with business. Union Capital
primary concern is funding transactions for clients and vendors in an
efficient and ethical manner.
“In closing, I would like to make some
clarifications on our conversation with you:
“We never told you verbally or in writing
that we "justified" expenses or claimed that.
We never said our expenses equaled our
internal cost such as D&B, telephone, etc.
“You stated deposit held would be "justified"
for lost commission if we had the appropriate language in our agreement.
We would like to see how that language reads in an effort to incorporate
that on future agreements.
“We wish to contact client, however per
email, he wished no further communication.
“Regardless, we will attempt this call
in order to resolve this matter. We will keep you abreast of any developments
and ask that you give us a few days to reach a conclusion.”
Sincerely,
John Wilcox
General Manager
Legal / Accounting
Union Capital, LLC 949-789-4500, ext. 201
949-789-4501 fax
The issue that Union Capital had kept more
than 10% as per their
contract was not addressed. After repeated attempts by Mr. Nicol
to communicate that he did not want to
do business with Union
Capital and wanted his money back, John
Wilcox was continuing
to ask for additional time “to resolve
this matter.”
Mr. Nicol stated:
“They never gave me the contract only the
proposal and the invoice of 6/12/2003 for 1st & last payments of
$5730.60 and $15,000.00 10% pre paid P.U. T. total due $20,730.60. There
proposal states that if through no fault of mine the lease does not
commence within SEVEN DAYS that they will return my commitment fee,
I sent all the doc’s to you in order starting with there advertisement.
I will mail a copy of all of them to you today.
“ They keep on stating that they have the
time to do this deal and that I gave them another 90 days from December
12th 2003 did I miss something it’s the end of May 2004 and I have not
heard from them since February with NO LEASE NO FINANCING NO EXPLANATION
except I signed a new deal in December.
“It’s been over 12 months..... “
-------------------------------------------------------------------------------
Complaint Bulletin Board Postings
http://www.leasingnews.org/bulletin_board.htm
From our Archives—June 1,2001---Tyco
Purchases CIT
Tyco Purchases The CIT Group, Inc.
PEMBROKE, Bermuda, June 1 /PRNewswire/ -- Tyco International Ltd., (NYSE:
TYC; LSE: TYI; BSX: TYC), a diversified manufacturing and service company, announced today that it is completing the acquisition
of The CIT Group, Inc. (NYSE: CIT, TSE: CIT.U
and Exchangeable Shares: TSE: CGX.U), a leading source of financing
and leasing capital in more than 30 industries.
CIT shareholders approved the transaction
on May 23, 2001. As part of the acquisition, Tyco purchased from The
Dai-Ichi Kangyo Bank approximately 71 million shares of CIT at a price
of $35.02, in cash, per CIT share. The remaining shareholders received
0.6907 Tyco shares for each share of CIT, or a value of $39.68 per share,
based on Tyco's May 31, 2001 closing price on the New York Stock Exchange
of $57.45 per share. The total transaction is valued at approximately
$10 billion.
According to L. Dennis Kozlowski, Tyco's
Chairman and Chief Executive Officer: "We believe that the CIT
acquisition will provide immediate growth opportunities for Tyco and
CIT. It is an ideal fit for Tyco and adds great value to our businesses
as part of a total package, including financing, which we can offer
customers. Like other landmark Tyco transactions such as Kendall, ADT,
AMP, Mallinckrodt, US Surgical and Raychem, we are acquiring a premier
franchise and global platform for growth. Not only will CIT be immediately
accretive to Tyco's earnings, but it will also provide ongoing benefits
to the shareholders and customers of both Tyco and CIT. Overall, we
believe that this transaction will result in enhanced levels of organic
growth, recurring revenue, stable profitability and competitiveness
across our Tyco divisions."
Albert R. Gamper, Jr., CIT President and
CEO added: "We believe that the Tyco alliance will enhance our
leadership position as an innovative global source of financing and
capital leasing. Our shareholders voiced strong support in last
week's vote approving the transaction. We are delighted to become part
of Tyco International and look forward to realizing the many synergistic
growth opportunities that now lie ahead of us." Mr. Gamper will
remain with Tyco as CEO and President of CIT and will join Tyco's Board
of Directors.
Consistent with its strategy to capitalize
on synergistic opportunities presented by the acquisition, Tyco announced
that two of its leading business units, ADT and M/A-COM have entered
into arrangements with CIT to provide financing to their qualified,
credit-worthy customers. In the case of ADT, CIT's Specialty Finance
Group will offer financing programs and tailored financing solutions
in support of ADT's more than 600,000 commercial customers. These programs
will be made available through CIT's DigitalEdge web-based origination
system.
"Our commercial customers have been
asking for financing and leasing options for years and through our new
relationship with CIT, we have the ability to quickly and knowledgeably
respond to our clients' financing needs effectively providing a higher
level of customer service," said Mike Synder, President of Tyco's
ADT business.
CIT's arrangement with Tyco Electronics'
M/A-COM, a world leading developer and manufacturer of radio frequency
(RF) and microwave semiconductors, components and IP (Internet Protocol)
Networks to the wireless telecommunications and defense-related industries,
gives M/A-COM the ability to give its OpenSky Wireless IP Network customers
access to CIT's financing. According to Tyco Electronics President Juergen
Gromer: "CIT provides an excellent opportunity to Tyco Electronics
to better serve its clients by providing access to financing capabilities
in various sectors such as telecommunications and for business in various
countries. Our customers are showing great interest."
Mr. Kozlowski concluded, "Tyco has
an established track record of success in building leadership positions.
We expect the addition of CIT will be groundbreaking in terms of new
capabilities and opportunities for Tyco as well as CIT."
About Tyco International
Tyco International Ltd. (NYSE: TYC; LSE:
TYI; BSX: TYC) is a diversified manufacturing and service company. Tyco
is the world's largest manufacturer and servicer of electrical and electronic
components; the world's largest designer, manufacturer, installer and
servicer of undersea telecommunications systems; the world's largest
manufacturer, installer and provider of fire protection systems and
electronic security services, and the world's largest manufacturer of
flow control valves. Tyco also holds strong leadership positions in
disposable medical products, diagnostic imaging, bulk pharmaceuticals,
wound closure, plastics and adhesives. Tyco operates in more than 100
countries and has expected fiscal 2001 sales of $38 billion.
Forward-Looking Information
This release contains certain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's current
expectations and are subject to uncertainty and changes in circumstances.
Actual results may vary materially from the expectations contained in
the forward-looking statements. The forward- looking statements in this
release include statements addressing the following subjects: future
financial and operating results; and timing and benefits resulting from
the acquisition.
The following factors, among others, could
cause actual results to differ materially from those described in the
forward-looking statements: the risk that the businesses of Tyco and
CIT will not be integrated successfully; and other economic, business,
competitive and/or regulatory factors affecting Tyco's and CIT's businesses
generally.
More detailed information about these factors
is set forth in Tyco's and CIT's filings with the Securities and Exchange
Commission, including Tyco's Annual Report on Form 10-K for the fiscal
year ended September 30, 2000 and CIT's Annual Report on Form 10-K for
the fiscal year ended December 31, 2000 and their most recent quarterly
reports on Form 10-Q. Tyco and CIT are under no obligation to (and expressly
disclaim any such obligation to) update or alter their forward-looking
statements whether as a result of new information, future events or
otherwise.
http://tbutton.prnewswire.com/prn/11690X71444428
SOURCE Tyco International Ltd.
CO: Tyco International Ltd.; The CIT Group,
Inc.; The Dai-Ichi Kangyo Bank
ST: Rhode Island, Bermuda, Canada
#### Press Release #############################
NEC Financial Services Selects eCredit
to Drive Credit Automation
- nFusion(R) Chosen as Strongest Competitive
Offering for Business Technology
Leasing and Financing Company -
DEDHAM, Mass / -- eCredit, the leading
provider of Web-based credit and collections automation applications,
today announced that NEC Financial Services, a subsidiary of NEC USA,
Inc., has selected the eCredit(R) nFusion(R) suite to automate its credit
processes. As part of a company wide initiative to improve
service to its leasing customers, NEC has chosen nFusion 4.0's integrated
suite over a combination of independent credit automation solutions
from different competitive software vendors.
As the subsidiary of NEC USA, Inc. responsible
for customer financing for NEC Group companies and affiliated third
parties, NEC Financial will meet a critical operational need by using
nFusion to establish a streamlined and efficient credit automation process
both internally and throughout its extensive dealer and distributor
network. NEC anticipates significant cost savings, not only by taking
advantage of nFusion's hosted model, but also by using nFusion to procure
credit data from multiple credit bureaus, and by leveraging process
automation capabilities to eliminate redundant and manual tasks.
"After an extensive survey of the
market for credit automation providers, we conducted an in-depth analysis
of competitive offerings and found that eCredit nFusion was the clear
winner," said Herschel Salan, General Manager, NEC Financial Services.
"We were particularly attracted by the potential benefits of nFusion's
tight integration to our back-end financial systems, and look forward
to nFusion helping us streamline our internal operations processes and
provide improved levels of service to our customer base, allowing us
to increase our sales and marketing reach."
nFusion will not only enable real-time
risk management and credit line assignments for NEC, but will also provide
the company with in-depth analysis capabilities that allow credit decisions
to be based on the most complete information available. This will ensure that nFusion handles all credit requests efficiently
and consistently, from lower value transactions that can be fully automated,
to high-value credit applications that require thorough risk and portfolio
analysis.
"Of critical importance to NEC and
other vendors in the leasing space is the ability to create business
processes that can be audited and replicated easily," said Jeff
Dickerson, President of eCredit. "We are extremely pleased that
NEC has recognized the value that nFusion can provide, helping automate
credit processes and delivering outstanding service to its customers."
About NEC Financial Services
NEC Financial Services, Inc., a wholly
owned subsidiary of NEC USA, Inc., was established in 1986 to offer
financing services to NEC Dealers and their customers in the United
States. NEC Financial Services delivers flexible leasing structures
to customers nationwide. With a staff of seasoned leasing professionals
in a highly automated office, NEC helps keep its customers on the cutting
edge of leasing innovation. For more information, please visit http://www.neclease.com/.
About nFusion
eCredit nFusion is the most comprehensive
Web-based credit and collections automation suite of applications available
today. The nFusion suite offers
credit and collections modules which can be utilized by themselves,
or in a completely integrated and seamless environment. As a result, nFusion combines the power of credit decision automation,
portfolio and customer risk analysis, and scoring with workflow management
capabilities and collections automation features to streamline the financial
value chain. As the only solution
available today to truly integrate both collections and credit functionality,
nFusion offers breakthrough advancements to improve business credit
decision processes, reduce costs, optimize risk exposure, improve revenues,
reduce DSO, accelerate cash flow and improve productivity.
About eCredit
Since 1993, eCredit has delivered credit
risk management and collections software and services to Fortune 1000
companies and financial institutions. The Company improves credit and
collections decision-making practices to deliver process efficiencies,
optimized risk management, reduced operating costs, and increased revenues.
Included among the Company's customers are ChevronTexaco, Cisco, CIT
Group, Sun Microsystems, and Ryder System, Inc. Headquartered in Dedham,
Massachusetts, eCredit is an Internet Capital Group (Nasdaq:ICGE) partner
company with additional venture backing from Apex Venture Partners and
Sterling Venture Partners. For additional information, visit eCredit
on the Web at http://www.ecredit.com.
SOURCE
eCredit
CO: eCredit;
NEC Financial Services
ST: Massachusetts
SU:
Web site: http://www.ecredit.com
### Press Releae ###############################
Fitch Downgrades DVI Medical Equipment
Securitizations
Fitch Ratings-Chicago- Fitch Ratings takes
rating actions on the classes of DVI, Inc. securities listed below.
Additionally, all noted ratings are removed from Rating Watch Negative.
These rating actions affect 55 classes of notes in 9 transactions totaling
$1.3 billion in securities. Many of these classes were placed on Rating
Watch Negative by Fitch on May 20, 2004.
Fitch's actions are based on continued
loan performance deterioration as reflected in the servicer reports
for the period ending April 30, 2004. While the rate of defaults has
slowed, actual delinquency rates, particularly later stage delinquencies,
are higher than expected and may result in defaults in excess of conservative
expectations applied by Fitch at the time of Fitch's March 5, 2004 rating
actions. As of the January 2004 reporting period, total delinquencies
averaged approximately 28% and delinquencies over 90 days averaged approximately
12.0%. As of the April 2004 reporting period, total delinquencies averaged
approximately 27.4% and delinquencies over 90 days averaged approximately
15.4%.
Fitch has had discussions with U.S. Bancorp
Portfolio Services (USBPS) which replaced DVI, Inc. as servicer for
each of the securitizations under the terms of each transaction's Contribution
and Servicing Agreements in February 2004. While Fitch acknowledges
the prior experience of USBPS in taking over the servicing of distressed
portfolios, reduced collections efforts by DVI prior to the servicing
transition combined with the volume of leases that are currently delinquent
and in default have contributed to severe loan performance deterioration.
USBPS has dedicated substantial resources to collections and work out
activities on the portfolios, but Fitch expects that it will be difficult
to realize significant near- term improvements in performance given
the magnitude of loan performance deterioration.
Fitch will continue to closely monitor
performance of the transactions, will have regular contact with USBPS,
and may raise, lower or withdraw ratings as appropriate.
Contact: Joseph S. Tuczak +1-312-368-2083
or Du Trieu +1-312-368-2091, Chicago.
### Press Release ##############################
---------------------------------------------------------------------------
Classified Ads---Help Wanted
Accounting
 Accounting: PricewaterhouseCoopers seeks executives with experience in equipment leasing to help clients improve their leasing businesses by assessing "as is" conditions and designing and implementing solutions to operational issues. PwC also seeks CPA's with a broad based knowledge of FAS13 and familiarity with accounting for leases with simple and complex transaction structures. Email: anthony.g.anderson@us.pwc.com About the Company: PricewaterhouseCoopers, New York, NY. |
|
About the Company: Nationwide Funding, Irvine, CA. |
Equipment Sales Representative
|
Equip.
Leasing Sales Rep: Strong sales and bus. dev. skills
needed. Dev/manage portfolio, initiate bus. in upper Midwest .
3-4 yr leasing exp. www.associatedbank.com About
the Company: Associated
Banc-Corp is a diversified multibank holding co., w/ $15.5
billion in total assets. Headquartered in Green Bay, WI . Associated
has more than 200 banking locations across WI, IL and MN. |
Marketing Indirect Originator
|
|
Sales
|
About the Company: www.odysseyequipfinance.com |
|
About
the Company: |
Sales: Established 20-year
full service lessor seeks sales professional in small or mid ticket
markets. Earn high commissions, with benefits.
--- to post a "Help
Wanted" ad, please go to:
http://64.125.68.90/LeasingNews/PostingFormWanted.asp
News Briefs---
Crude Oil Rises After Saudi Attack Raises
Concern About Supply
http://quote.bloomberg.com/apps/news?pid=71000001&refer=
top_world_news&sid=aduLcWjbJPLA
Income gap linked to prices of houses
http://www.signonsandiego.com/news/business/20040530-1035-incomegap.html
Meet Tim Russert - analyst, TV moderator
and son of "Big Russ"
http://www.stltoday.com/stltoday/entertainment/stories.nsf/Entertainment
/TV+%26+Radio/9B431206DC33552186256EA5007103E6?OpenDocument&
Headline=Meet+Tim+Russert+-+analyst,+TV+moderator+and+son+of+%22Big+Rus
Oldest Person Dies at 114 in Puerto Rico
http://www.newsday.com/news/nationworld/wire/sns-ap-obit-oldest-person,
0,3280868,print.story?coll=sns-ap-nationworld-headlines
Civil War widow, final link to old Confederacy,
dies
http://www.usatoday.com/news/nation/2004-05-31-war-widow_x.htm
-----------------------------------------------------------------------------
Sports Briefs---
With Rush, Lakers Go To Finals
http://www.washingtonpost.com/wp-dyn/articles/A5211-2004Jun1.html
By George, could Eagles have it?
http://www.nj.com/eagles/times/index.ssf?/base/columns-0/1085818066260170.xml
Colts may fill NFL's L.A. void
http://www.tennessean.com/sports/titans/archives/04/05/52058077.shtml?Element_ID=52058077
A perfect 10/Bonds, Tucker homer as win
streak continues
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/06/01/GIANTS.TMP
-------------------------------------------------------------------------------
“Gimme that Wine”
Family-owned company offers free Internet
service to military
http://www.nctimes.com/articles/2004/06/01/news/californian/murrieta/5_31_0420_49_37.txt
“Gimme
that Wine”
Protein in red wine can kill cancer cells
http://www.timesdispatch.com/servlet/Satellite?pagename=RTD%2FMGArticle%2FRTD
_BasicArticle&c=MGArticle&cid=1031775800328&path=%21news%21localupdates&s=1045855935074
New York City Vineyard
http://www.winespectator.com/Wine/Daily/News/0,1145,2487,00.html
Tedeschi Vineyards debuts new blanc: Maui
Wine
http://www.bizjournals.com/pacific/stories/2004/05/31/daily6.html
The Late Gil Nickel’s Far Niete Winery
http://www.usatoday.com/travel/destinations/2004-05-27-napa-main_x.htm
At Wine Festival, Paso Robles Shows It
Has Bounced Back From Quake
http://www.winespectator.com/Wine/Daily/News/0,1145,2488,00.html
Italian Street Painting Festival to be
Held June 12-13 Mill Valley, Ca.
http://www.vino.com/press/press_release.asp?PRID=346
Marvin Shanken The Grand Tour Rolls Again
http://www.winespectator.com/Wine/Daily/News/0,1145,2471,00.html
Harper’s Interview Rubicon Larry Stone,
Wine director, Rubicon, SF
http://www.harpers-wine.com/featuresitem.cfm?featureID=171
California Supreme Court Hears Case on
Use of ‘Napa’ in Wine Names
http://www.winespectator.com/Wine/Daily/News/0,1145,2489,00.html
-------------------------------------------------------------------------------
This
Day in American History
National
Rose Month: To recognize American-grown
roses, our national floral emblem America’s
favorite flower is grown in all 50 states and more than 1.2 billion
fresh cut roses are sold at retail each year. For info: www.rosesinc.org
1540-The
first settlement in America in continuous habitation is the mountain
village of Acoma, NM. First
settled in the 11th century by Indians from nearby Enchanted
Mesa. Francisco Vaques de Coronado's army visited Acoma in the year
1540 and became the first white man to enter Sky City. He described
Acoma as:
"One
of the strongest ever seen, because the city was built on a high rock.
The ascent was so difficult that we repented climbing to the top. The
houses are three and four stories high. The people are of the same type
as those in the province of Cibola (Zuni) and they have abundant supplies
of maize, beans and turkeys like those of New Spain"
http://www.puebloofacoma.org/index2.htm
1586
- After a surprise raid on the village the night before, Ralph Lane
and English garrison murder the Indian chief Pemisapan, behead and mutilate
his corpse, announcing "Christ our Victory" as they lay siege
to Dasemunkepeac. This was in retaliation to
Pemisapan
trying to organize the Indians against the European way of life.
When
Sir Walter Raleigh returns to the area, he finds the white settlement
has
“vanished.”
They state in their journals they don’t know why. Other patriot chiefs
such as King Phillip, Pontiac, Tecumseh, Sitting bull, et al, will suffer
similar fates, as the pattern is set. The citing of journals that follow
are fascinating.
The
Indian population of what was to become the U.S. was about 1,000,000
when European exploration began. Pioneer
groups of European colonists were small.
They entered regions with sparser populations and more fluid
cultures, bringing
with
them diseases unknown to the area, perhaps the main killer of the Indian
population. In retrospect, the first decade of the seventh
century was the twilight
of
aboriginal Indian life.
http://www.nps.gov/fora/teacher.htm
http://homepages.rootsweb.com/~jmack/algonqin/mook3.htm
1638-
the first earthquake in the US to have been recorded and described in
writing occurred at Plymouth, MA, at 2 PM. Governor William Bradford
described the event in his History: ... it was very terrible for ye
time; and as ye men were set talking in ye house, some women and others
were without ye doors, and ye earth shooke with ye violence as they
could not stand without catching hold of ye posts . . . but ye violence
lasted not long. And about halfe an hower, or less, came an other noyse
& shaking, but neither so loud nor strong as ye former, but quickly
passed over, and so it ceased.”
1660-
Mary Dyer, American colonial-British Quaker convert whose conscience
forced her back to Boston in spite of official warnings.
There she was arrested for teaching a religious belief other
than those approved by the Puritan church leaders
and
hanged this day. While the history
books state religious groups came to
practices
except their own. Mary Dyer was executed under the strict anti- Quaker
laws enacted by the very same people who came to the "New World"
for religious freedom. Dyer's
hanging was not part of the witchcraft panic that gripped Salem, Massachusetts
later.
http://www.geocities.com/Heartland/Valley/2822/marydyer.html
http://www.gale.com/free_resources/whm/trials/dyer.htm
1792-
Kentucky became the 15th State of the Union. Since its name is an American
Indian word for "great meadow", it is fitting that Kentucky’s
nickname is the Bluegrass State, and its flower is the goldenrod. The
official state bird is the cardinal. The capital of Kentucky is the
city of Frankfort.
1796
- Tennessee joined the United States of America on this day. Long before
it officially became the 16th state, Tennessee had already begun to
earn its nickname, the Volunteer State, as it sent large numbers of
volunteers to fight in the American Revolution. The tradition continued
for the War of 1812, the Mexican War and the Civil War. The country-music
capital of the world, Nashville, is also the governmental capital of
Tennessee. The state’s official flower is the iris, its bird, the mockingbird.
1801,
Bringham Young, Mormon church leader born at Whittingham, VT.
Known as “the American Moses,” having led thousands of religious followers
across 1,000 miles of wilderness to settle more than 300 towns in the
West. He died at Salt Lake City, UT, Aug 29, 1877, and was survived
by 17 wives and 47 children. Utah observes, as a state holiday, the
anniversary of his entrance into the Salt Lake Valley, July 24, 1847.
1843-Sojourner
Truth begins travel as abolitionist speaker.
http://www.lkwdpl.org/wihohio/trut-soj.htm
http://www.geocities.com/Athens/Oracle/9840/sojourn.html
http://www.noho.com/sojourner/
1860-The
first census compiled by machines was the 1890 census, which recorded
a population of 62,979,766. According to the U.S. Bureau of the Census,
the resident population of the United States, projected to 5/29/2004
at 3:48:56 PM EDT is
293,364,634COMPONENT
SETTINGS
One birth every..................................
8 seconds
One death every..................................
12 seconds
One international migrant (net) every............
25 seconds
Net gain of one person every..................... 12 seconds
Historic
Census by Year
http://eire.census.gov/popest/archives/pre1980/popclockest.txt
1861- John Quincy Marr of Warrenton, VA, commander of the Warrenton Rifle
Guards ( designated Company K of the 17th Virginia Infantry
Regiment ) was the first Confederate
officer killed in the Civil War; in a skirmish at Fairfax Court House,
VA. Marr was actually a lieutenant colonel, having been commission on
May 2, 1861, but his letter of commission from Governor John Letcher
had not been delivered to him.
1862—General
Robert E. Lee was appointed commander of the Confederate Army of Northern
Virginia.
1898-
Molly Picon birthday: U.S. actor and singer, the star of New York Yiddish
theater. Known as the Sweetheart of Second Avenue, she projected a light,
charming character with a great sense of humor.
http://www.jwa.org/exhibits/wov/picon/index.html
http://www.jwa.org/archive/picon/mpcl.html
http://us.imdb.com/name/nm0682000/
1899-The
annual parade of "New York's Finest" was filmed on June 1,
1899 in Union Square.
http://memory.loc.gov/ammem/today/jun01.html
1901-The
first motorcycle powered by a gasoline engine was demonstrated
in
a climbing hill exhibition. The
first motorcycle with a built-in gasoline engine was manufactured in
Springfield, MA, by George M. Hendee, who formed the Hendee Manufacturing
Company, which began to market the Indian motorcycle.
Previously, motorcycles had been ordinary bicycles to which motors
were attached. Three motorcycles
were built in 1901. The following
year, production was increased to 143.
The motors were made by the Aurora Machine Company, Auroa, IL,
and were mounted to the motorcycle frames in Springfield.
1908
- John Krohn decided to take a walk around the United States - with
his wheelbarrow! He completed the walk around the perimeter of the U.S.
in 357 days. He walked 9,024 miles, went through 11 pair of shoes, 112
pair of socks, five wheels for his trusty wheelbarrow and never walked
on Sunday.
1911-
the first life insurance group policy was written for 121 employees
of the Pantasote Leather Company of Passaic, NJ, by agent William J.
Graham of the Equitable Life Assurance Society.
Each employee was given insurance protection amounting to a year’s
salary and a funeral benefit of $100.
1915-
country singer Johnny Bond was born in Enville, Oklahoma. He is best
known as the composer of "Hot Rod Lincoln," a hit for both
Bond and Charlie Ryan in 1960, and for Commander Cody and the Lost Planet
Airmen in 1970. Bond also appeared in more than 50 movies. And in the
less-enlightened days of the 1950's and '60s, he wrote a series of comic
songs about drunkenness, the most famous of which is "10 Little
Bottles." Bond died of a heart attack on June 12th, 1978.
1919-Birthday
of singer/pianist Lafayette Leake, Winona, MS
http://mp3.com/artists/78507/summary.html
http://www.artistdirect.com/music/artist/card/0,,457357,00.html
http://www.joes-corner.de/dawkins/disco/dawkins_rec82.htm
http://community-2.webtv.net/W-Media-Player/BLUESPIANOGREATS/
1903
- A strong tornado just 50 to 75 yards in width killed many persons
around the Gainesville GA Cotton Mill. The tornado strengthened and
widened near the end of its four mile path, killing 40 persons at New
Holland GA. A total of 104 persons were killed in the tornado.
1920--WEB
DuBois, civil right activist and educator, awarded Spingarn Medal,
http://or.essortment.com/springarnmedal_rlwp.htm
http://www.wlib.com/BlackHistory.htm
No.
27 here: http://or.essortment.com/springarnmedal_rlwp.htm
1921 -- More than 300 killed in race riot in
Tulsa, Oklahoma. The black community of Greenwood is destroyed by a
white mob, who murdered many & burned down nearly the entire area,
destroying over 1,000 homes & businesses in a 35 block area. No
one was ever charged with any wrongdoing, no reparations were ever made
and accounts of the riot were literally cut out of the newspaper archives
as Tulsa (read "white" Tulsa) tried to erase accounts &
memories of the events...
http://www.forgottenhistory.org/exhibits/tulsa.html
http://www.lib.utulsa.edu/speccoll/tulsa_race_riot.htm
1921-
composer and arranger Nelson Riddle was born in Ordell, New Jersey.
Well-known as an orchestrator for such singers as Frank Sinatra and
Linda Ronstadt, Riddle also had several hits under his own name, including
the 1956 million seller "Lisbon Antigua." He died on October
6th, 1985.
1922
Birth of Ray Knighton, who in 1954 founded the Medical Assistance Program
(MAP International) in Chicago.
1924-Alto-Clarinet
player Hal McKusick born Medford, Mass.
http://www.mmguide.musicmatch.com/artist/artist.cgi?ARTISTID=600294&TMPL=LONG#bio
http://www.fantasyjazz.com/catalog/mckusick_h_cat.html
1924---Birthday
of drummer Herbie Lovelle, New York City, NY
1926-Marilyn
Monroe’s birthday, American actress and sex symbol of the '50s, born
at Los Angeles as Norma Jean Mortensen or Baker. She had an unstable
childhood in a series of orphanages and foster homes. Her film career
came to epitomize Hollywood glamour. In 1954 she wed Yankee legend "Jolting
Joe" DiMaggio, but the marriage didn't last. Monroe remained fragile
and insecure, tormented by the pressures of Hollywood life. Her death
from an overdose Aug 5, 1962, at Los Angeles shocked the world. Among
her films: The Seven Year Itch, Bus Stop, Some Like It Hot, Gentlemen
Prefer Blondes and The Misfits.
http://www.ellensplace.net/marilyn.html
1934-Singer
Pat Boone birthday, considered the second most popular
singer
in the 50’s, after Elvis Presely. Also an
actor (State Fair), author, born Jacksonville, FL. At his peak
in the late 1950's, Boone was considered a rock 'n' roller, a sort of
sanitized, parent approved alternative to Elvis Presley. The first of
his more than 50 chart records came in 1955 a cover version of Fats
Domino's "Ain't That a Shame." Boone's record went to number
one while Domino's version made it only to number 16. Pat Boone became
one of the all time biggest selling pop singers, and from 1957 to 1960
had his own network television series. His daughter, Debby Boone, had
a number one record in 1977 with "You Light Up My Life."
http://home.att.net/~boomers.fifties.pinups/page7.html
http://www.tsimon.com/boone.htm
1936-Brithday
of Sandra Scoppetone, U.S. writer of mysteries featuring Lauren Laureno,
Lesbian private eye who has a wonderful view of New York City.
Her
conversations with the natives are priceless.
http://www.imt.net/~gedison/scoppett.html
http://www.xs4all.nl/~embden11/Engels2/scoppetone.htm
http://www.amazon.com/exec/obidos/tg/detail/-/0316776483/102-7693729-8155316?v=glance
http://encarta.msn.com/text_761559994___10/Detective_Story.html
http://www.thrillingdetective.com/trivia/triv140.html
1938
- The first issue of the comic book "Superman" appeared in
news stands throughout the country. "Superman" was created
by two teenagers: Jerome Siegel and Joseph Shuster. Originally a newspaper
comic strip, Superman was changed to a booklet format to immediate acclaim.
It became a movie and one of the first
television
series hits. The story idea came from
Jerry Siegel in a dream he had about the baby, Moses, who was abandoned
by his parents in order that his life be saved. This dream prompted
Siegel's creation of the ‘Man of Steel’. Artist Joe Shuster made the
comic book hero come alive. The first story, in this first issue, took
place on the planet, Krypton, where baby Kal-El was born. The infant
was shot to Earth in a rocket just before Krypton exploded.
1938
- Batters wore protective baseball helmets for the first time. Helmets
were brought into use in a game between the Springfield Greys and the
House of David in New York City.
1944---Top
Hits
Long
Ago and Far Away - Helen Forrest & Dick Haymes
I’ll
Get By - The Harry James Orchestra (vocal: Dick Haymes)
I’ll
Be Seeing You - The Tommy Dorsey Orchestra (vocal: Frank Sinatra)
Straighten
Up and Fly Right - King Cole Trio
1947-
guitarist Ron Wood of the Rolling Stones was born in London. A veteran
of the Jeff Beck Group and Faces, Wood was chosen by the Stones to replace
Mick Taylor in 1974. Wood was also a member of Keith Richards's New
Barbarians, the group that shared billing with the Rolling Stones at
a free concert for the blind in Oshawa, Ontario in April 1979. The concert
was in lieu of a jail sentence for Richards, who had been convicted
of possession of heroin.
1949
- Subscribers to "Newsweek" magazine were offered microfilm
copies of the magazine for the first time. The weekly publication cost
$15 a year.
1950—birthday
of singer Charlene (CHARLENE D'ANGELO) Hollywood, Ca.
http://www.imdb.com/name/nm0152965/
http://shopping.yahoo.com/p_charlene_artist_1927012792;_
ylt=Aigw8fFcuX290VsHKd2ruNdUvQcF;_
ylu=X3oDMTBudjI1N2xwBF9zAzg0MzkzMzAwBHNlYwNhcnRmZWF0?a=b
http://www.westword.com/extra/jukebox/bh10-17.html
1952---Top
Hits
Kiss
of Fire - Georgia Gibbs
Blue
Tango - The Leroy Anderson Orchestra
Be
Anything - Eddy Howard
The
Wild Side of Life - Hank Thompson
1957-
at the Pacific Amateur Athletic Union Meet at Stockton, CA,
Don
Bowden of the University of California became the first American to
break the four minute mile ( 3 minutes 57.7 seconds )
1959
- Columbia Records' "Johnny's Greatest Hits" celebrated a
full year at the top of the album charts. The LP continued to stay at
or near the top of the charts for several more years. The album became
the album leader of all-time after 490 weeks. Johnny Mathis went on
to have an LP on the charts nearly every year for over three decades.
1960-
The popular and enigmatic British mini-series, "The Prisoner,"
aired for the first time in US television. Starring Patrick McGoohan
as a secret agent held against his will in a remote, controlled environment
known as the Village, "The Prisoner" was one of TV's most
imaginative series. In both the US and England, The Prisoner became
an instant cult series. "The Prisoner" was one of the most
imaginative shows on TV, regarded by some as the finest dramatic series
in TV history. Patrick McGoohan, who produced and starred in the series,
also wrote and directed some episodes. In the series, McGoohan found
himself in a self-contained community known as "the village"
where he was referred to, not by name, but as Number 6. Number 6 realized
he was a prisoner, and spent most of the series trying to escape or
to learn the identity of the leader, Number 1. In the last episode,
he learned that he was Number 1.
1960-The
first parking meter enforcement division of a police department was
appointed by Mayor Robert F. Wagner of New York Ci9ty. The “meter maids”
underwent about two weeks of training and received salaries ranging
from $3,150 to $4,830 a year. The first summons was issued on June 6, 1960.
1960---Top
Hits
Cathy’s
Clown - The Everly Brothers
He’ll
Have to Stay - Jeanne Black
Paper
Roses - Anita Bryant
Please
Help Me, I’m Falling - Hank Locklin
1963
-- 531, including NAACP Executive Secretary Roy Wilkins, arrested at
a peaceful civil rights march in Jackson, Mississippi.
1964
- Leslie Gore's hit single, It's My Party, rose to the Number 1 spot
on Billboard's record charts on this date, and stayed there for 2 weeks.
Gore was just 17 when she recorded the song, and she became one of the
youngest solo female artists in music history to top the charts (1963).
The Rolling Stones landed at JFK International Airport in New York for
their first U.S. tour, which began the next day at the Manning Bowl,
a high-school football stadium in Lynn, Massachusetts.
1964-
the Rolling Stones arrived in New York to begin their first American
tour. Their first date was at a high school stadium in Lynn, Massachusetts.
The Stones also stopped in Chicago to record an EP at the Chess studios,
and when they tried to hold a news conference, a riot broke out.
1966
-- June 1-2, White House Conference on Civil Rights with Roy Wilkins
of NAACP; Whitney Young Jr. of National Urban League;
Floyd McKissick & James Farmer of CORE; Martin Luther King Jr. of
SCLC; Stokely Carmichael of SNCC ("We feel that integration is
irrelevant. We have got to go after political power.").
1967
- "Sgt. Pepper’s Lonely Hearts Club Band" was released by
The Beatles
in
England. The North American release came two days later. "Sgt.
Pepper's" became one of the first rock albums to be critically-acclaimed,
and went on to become the number one album in the world. It spent 15
weeks at the top of the album list in the United States
It took 700 hours over three months to record under the direction
of George Martin, Britain's top pop producer. A then state-of-the-art
four track recorder was used to build each song layer by layer. The
cost of recording - $75,000. "Sergeant Pepper's" wide range
of styles and sounds and its use of electronic noises ushered in the
psychedelic era. Some of its songs, such as "Lucy in the Sky With
Diamonds" and "A Day in the Life" were carefully examined
for hidden meanings. The album is estimated to have sold more than 15
million copies, and stayed on the Billboard chart for 113 weeks. On
June 1st, 1987, 20 years to the day after it originally came out, the
compact disc version of "Sergeant Pepper's" was released.
The CD contained what some might consider a bonus - a two-second burst
of laughter and gibberish which had only been available previously on
European versions of the album, and a high frequency note at the end
of the LP audible only to dogs.
1968-
Simon and Garfunkel reached the top of the US charts with "Mrs.
Robinson," a song featured in the soundtrack of the film "The
Graduate." The song won a Grammy Award for the Best Contemporary
Pop Performance by a Vocal Duo or Group.
1968---Top
Hits
Mrs.
Robinson - Simon & Garfunkel
The
Good, the Bad and the Ugly - Hugo Montenegro
Yummy
Yummy Yummy - Ohio Express
Honey
- Bobby Goldsboro
1973-The
James Bond thriller, "Live and Let Die" opens. The movie features
the title track by Paul McCartney and Wings.
1974-Heimlick Maneuver introduced: the June issue of the journal Emergency Medicine published an article by Dr. Henry Heimlich, outlining a better method of aiding choking victims. Instead of prevailing method of backslaps
(
which merely pushed foreign objects further into the airways), Dr. Heimlick
advocated “subdiaphragmatic pressure” to force objects out. Three months
later the method was dubbed, the Hemlich Maneuver” by the Journal of the
American Medical Association.
1974-Birthday
of Alanis Morissette, Ottawa, Ontario
http://www.alanis-morissette.com/biography.html
http://www.alanis.com/socalledchaos/socalledchaos.html
http://www.canehdian.com/artistlinks/artists/alanis.html
1975
- Nolan Ryan of the California Angels threw his fourth career no-hitter
game with a 1-0 win over the Baltimore Orioles. As a result, Ryan tied
the major league baseball no-hit record.
1976---Top
Hits
Love
Hangover - Diana Ross
Get
Up and Boogie (That’s Right) - Silver Convention
Misty
Blue - Dorthy Moore
One
Piece at a Time - Johnny Cash
1980-,
CNN debuted, the Cable News Network, TV’s first all-news services
went
on air.
1980
- A man from Falmouth ME was struck by lightning restoring his eyesight.
The man had been blind and partially deaf since a truck accident in
1971
1984---Top
Hits
Let’s
Hear It for the Boy - Deniece Williams
Time
After Time - Cyndi Lauper
Oh
Sherrie - Steve Perry
As
Long as I’m Rockin’ with You - John Conlee
1987-Niekro
Brothers the Winninest. Phil Niekro pitched the Cleveland Indians to
a 9-6 victory over the Detroit Tigers to put himself and his brother
Joe into the lead as the winningest brothers in major-league pitching
history. Their 530 combined victories surpassed Gaylord
and Jim Perry. The Niekros ended
their careers with 539 wins, 318 by Phil and 221 by Joe.
1989
- Thunderstorms developing during the afternoon over the Southern Plains
Region produced severe weather through the evening and the night, spawning
nine tornadoes. Thunderstorms produced wind gusts to 80 mph at Alpine
TX, and baseball size hail at Balmorhea, TX, Fluvanna, TX, and in Borden
County, TX
1990
- U.S. President George Bush and Soviet President Mikhail Gorbachev
signed a bilateral agreement to stop producing chemical arms and to
begin destroying stocks by the end of 1992.
1995-
Joe Garagiola Jr. is named as the Diamondbacks first general manager.
1997-Canadian
sprinter Donovan Bailey won a special 150-meter match race against American
Michael Johnson to reassert his claim to the title of the “World’s Faster
Human.” After Bailey had won
the 100 meters at the 1996 Summer Olympics and Johnson had won the 2200
meters and the 400 meters, the two engaged in a nasty bragging-rights
battle. This special race was supposed to put an end
to their flap. But the race in Toronto proved inconclusive as Johnson,
well behind at the halfway point, pulled up short, claiming that he
had injured his left quadriceps.
Stanley Cup Champions This Date
1992 Pittsburgh Penguins
----------------------------------------------------------------------------------------------
Baseball
Poem
Three
Run Homers, or, Rupert Brooke Celebrates Baseball
I
think that I shall never see
A
poem lovely as a three
Run
homer when the team is pressed
Against
the wall and quite distressed,
A
homer that may at evening scare
A
nighthawk circling in the air,
Or,
'neath the arc lights blazing bright,
Restore
the score and set things right,
Rescue
the pitcher and save the game,
And
set the home team crowd aflame:
Poems
are made by fools like me,
But
only heroes knock in three.
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