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Thursday, November 22 ,2001 Happy Thanksgiving ( History of Thanksgiving in This Day in American History , included on line today ) Dwight Galloway, Republic Leasing of South Carolina NAELB Appointed Bill Miller Executive Director Crocker Capital Leaves Many Unhappy Employees Ira Romoff to Announce New Product Soon Commercial Money Center Memo to All Associates UniCapital Plan Filed Mortgage Rates Rise New Jobless Claims Fall for Fourth Week in a Row Full Unemployment Report on Majority of US States Directors of Mellon Authorize 25 Million Repurchase of Shares IFS Announces New President, CEO,
#denotes press release
___________________________________________________________________________ Dwight Galloway, Republic Leasing of South Carolina All of us at Republic are thrilled about the acquisition of our long time parent, Resource Bancshares Mortgage Group, Inc. by NetBank, Inc.! Among the many benefits to us will be the continuity of management (RBMG’s CEO Doug Freeman will become the CEO of NetBank), lower-cost funding for our leases and a corporate culture that stresses acquisition of high quality earning assets through wholesale channels. Our strategy for Republic will be simple: Apply the lower cost of funds to become the very best broker/lessor-funding source in the country. In addition to leveraging NetBank’s technology to provide world-class service to our business sources, we intend to become very competitive in the app-only and lower middle market for better credits. We are especially looking forward to establishing stronger relationships with our lessors that develop programs for their niche vendors. We have no doubt that our many long time brokers will be calling soon with their advice on how we can apply these new tools. In addition, we have already begun to hear from lessors whose needs we will soon be able to meet once the acquisition has closed. You were right in your assessment Kit: we certainly have been given an early present! Dwight Galloway dgalloway@rlclsg.com ( Could not happen to a nicer guy. When he was on the United Association of Equipment Leasing Membership Committee, he worked, attended all meetings, came up with ideas, helped us all, and gives to many associations. He is a “giver.” He also holds the distinction to be the first to securitize deals solely from brokers. He “loves” brokers. He is a wholesaler. A true leader in our industry with the highest ideals. A family man, too. To see him come out of top, should make us all feel good. It is a Christmas present for us, too. Let me know play our own horn, when Leasing News started the eLease section, we made special mention of this company to watch as they were way ahead of their time, run correctly, and were going to become a major player in the financial world and gave them a top review: NETBANK. com (http://www.netbank.com), is a financial services company whose sole subsidiary, NetBank, member FDIC, is the first profitable pure Internet bank in the country, having achieved profitability in the past nine consecutive quarters. With more than $1.6 billion in assets and customers in all 50 states and 20 foreign countries, NetBank was recently recognized as the best online bank by readers of Worth magazine in its annual "Readers' Choice Awards" survey and as a Money.com pick for "Best Online Banks." With its low- cost, branchless business model, NetBank also pays its customers with high interest rates on deposits with low- or no-fee banking services. The company is now tied with Quicken in an internet alliance. While their products and services include free online account access, free checking, free unlimited online bill payment and presentment, free unlimited ATM use, VISA(R) Check Card, VISA(R) credit cards, online brokerage services, mortgage lending, home equity lines and loans, insurance, IRAs, and online safe deposit boxes To add the mortgage company and leasing company to their portfolio is “super!” editor ---------------------------------------------------------------------------------------------------- National Association of Equipment Leasing Brokers Appoints Executive Director From Leasing Logic: NAEB has new staff leadership, Bill Miller, CAE, will serve as NAELB’s executive director---overseeing all of the association’s activities and providing NAELB with the benefit of 16 years of association leadership. As president of the Mid Atlantic Food dealers Association MAFDA), Miller oversaw a membership of over 2,000 stores. “ I am excited about the opportunity to take an active role with NAELB, “ Miller says. “ I look forward to working with NAELB’s board of directors to develop programs and events to keep up with the ever-changing equipment leasing industry.” Miller attended Johns Hopkins University and the University of Baltimore and served as president of the Maryland Society of Association Executives. He is also a Certified Association Executive as designated by the American Society of Association Executives. Please feel free to contact Miller at bmiler@clemonsmgment.com or at NAELB headquarters, 410-931-8100 Dee DiBenedicts, who currently sits on the NAELB board, will handle the Help desk. With over 15 years experience in the industry working for funding sources such as Denrich Leasing and Unicyn Funding Group in capacities ranging from credit and documentation through collections and marketing, DiBenedictis should be able to answer just about any question relating to the industry…. Inquiries regarding general association information such as membership information and renewals, conference and meeting schedules should be direct to NAELB headquarters at 800-9096-2352. The Help Desk should be called for question sand issues that need to be addressed to a peer in the industry. The toll free Help desk number is 866-NAELB71 or 866-623-5271. The Phone will be answered don Tuesday and Thursday from noon until 4-m. Voicemail can be left at anytime. In addition, you can e-mail the Help ‘desk at helpdesk@naelb.org ----- Let Leasing News blow our own horn again, as our other special mention when we started the eLease section, we predicted Listserve would be a big “hit” and very helpful to its members: Post@NAELB.org This may be considered a "portal" or "EIP", but does not fit into the category. The fee for this "portal" consists of becoming a member of the National Association of Equipment Leasing Brokers ( $295 a year for professional lease brokers/costs vary for other professions). Members then can send a message ( post an e-mail ) to all other members requesting information for where is the best place for a certain type of lease, post a complaint, request legal help, pass on information important to others in the leasing industry, and as important, communicate with each other. All members who join the e-mail network receive the message. It is quite unique in the industry. 2002 NAELB Conference will be April 10-14,2002 Caribe Royale Resort Suites & Villas, Orlando Florida Please mark your calendar. --------------------------------------------------------------------------------------------------------------- Great National Sales Manager Now on the Marketplace Richard Baccaro is a great leasing guy. If American Express continues to get rid of the good talent it will be interesting to see where they are in a year or two from now. Todd Kaufman <tkaufman@keystoneefc.com>
Crocker Capital Leaves Many Unhappy Employees Yes, that’s right, Dimension Funding only bought the assets…not the liabilities. The Morris had one of the first “hard deal” companies and when Datronics turned them off due to alleged fraud by the president of Datronics closing the company down ( a summation of the circumstances ), they allegedly never really recovered to the powerhouse they once were. What happened at SDI Capital by the Daniels is now happening to Crocker Citizen employee: “The sales people were told that they weren't being picked up and they can't get calls back. I have a list of deals from one of them with almost 100k in profit.” “ Larry Wagner that any commission I had due to me on the deals that Dimension is now doing is owed to me by Crocker. (they no longer exist)( that is 30k in commissions ++) and Larry made a comment that "there isn't enough to pay anyone.." to me yesterday.” “They sure didn’t give me a happy thanksgiving. We don’t know about our benefits or other plans. Please let the rest of the industry know how we were treated.” Leasing News has more, but I don’t want to reveal their names as they may seek legal action, and do not want to jeopardize their chances. editor _________________________________________________________________________ A NEW PRODUCT TO SUPPLEMENT US DURING THIS TOUGH TIME IRA ROMOFF Phone = 201-995-9594 Fax = 201-327-2011 Email = IraRomoff@aol.com I'M ABOUT TO EMBARK ON A NEW VENTURE AFTER CREATING EAB LEASING OVER THE PAST TEN YEARS AND RUNNING THE TILDEN COMPANIES BEFORE THAT. THIS OPPORTUNITY WILL ENABLE ALL INDEPENDENT LESSORS, AND THEIR SALESMEN, TO EARN RESIDUAL TYPE MONEY WITH NO CREDIT RISK OR CAPITAL OUTLAY. WE SHOULD BE UP AND RUNNING BY YEAR END. I LOOK FORWARD TO HEARING FROM MY MANY FRIENDS AND FORMER "INDEPENDENT" CUSTOMERS. THIS IS JUST WHAT THE LEASING INDUSTRY NEEDS, A NEW PRODUCT TO SUPPLEMENT US DURING THIS TOUGH TIME. IRA National Association of Equipment Leasing Brokers Expels CMC November 20, 2001 To: All Associates From: Mark Fisher, Chief Operating Officer Re: Commercial Money Center, Inc. Response to NAELB Expulsion We have been expelled from the NAELB for what they have termed “ethical violations”. The specific reason for expulsion was Commercial Money Center’s refusal to violate our lease agreement’s contractual requirements on one specific lease. Commercial Money Center’s lease agreement involves a third party. As a part of the documentation, their requirements as well as CMC’s are fully disclosed. The costs associated with our leases are fully disclosed. The ramifications to the lease in the case of a default are fully disclosed. Commercial Money Center incurred an actual monetary loss on the deal in question. The NAELB thought the ethically appropriate response to their inquiry was for Commercial Money Center to incur further losses. We respectfully disagreed. The result has been expulsion from their organization. We regret the NAELB decision, but believe that our actions in this matter were legal, ethical and appropriate for the individual situation. It should be of interest to all, that the Broker making the complaint continues to submit deals to our company despite on his apparent ethical opposition to our contract as they were written and our company policies. Mark Fisher, Chief Operating Officer ___ The question(s) I - and a lot of brokers who have CMC deals pending - is : What is the status of getting these "bundles" funded and when. Some transactions are pending as much as 6 months I understand. My transactions are probably over 120 days depending upon what date is used as the starting point (docs in , or audit done). What is the companies security for future deals? Why should brokers send more deals in for approval and documentation when there is so much trepidation about current fundings or lack thereof? Perhaps if Leasing news could get the scoop on the "status of the business", the broker community would better understand where CMC fits into the funder universe. Regardless of their NAELB status. We've done many transactions with CMC and - until this current problem (since about May) not being able to get "bundles" funded - we have been stressed , but not disappointed. Accountants use the term "going concern". Many brokers, vendors and lessee's are on the ropes right now due to these "bundles" not being funded. Their main concern is whether CMC is a going concern now, in three months, in six months ... etc. I'm sending this in confidence though you can use the content in contacting CMC if you feel this has merit. Most brokers that do business with CMC don't want to cause terminal bleeding. They just don't know if the wounds are stable, critical or fatal. If CMC goes down before all these deals are funded the negative ripple effect will be great among brokers, vendors and lessees. Name With Held ( My old mentor Mac Pollock of Key Lease, Redwood City, California, said, ” If you sleep with dogs, you get fleas.” Depending on your point of view, this may refer to CMC… but in my mind, it is the point of view of the lessee or applicant. When you are dealing with difficult situations, difficult credits who will accept a high rate, terms, conditions, you have a lot o fleas. It often is extremely difficult for the broker, the vendor, the fundor, and all those involved to hold this together, particularly when there may be a long check list and difficulties ahead. These are not transactions that get approved in an hour or funded by “fax-to-fund.” They often takes months, yes, months, and that is typical of this marketplace. So you have to decide, why is the lessee willing to enter into these terms; usually because they have no where else to go. Therefore, CMC is serving a special part of the marketplace. They have the knowledge and experience. The problem that occur primarily is because the lessee and vendor are not prepared for the time involved to complete the process; often, new brokers are not either. If you are going to “entertain” such credits, prepare your customer and vendor that the train ride will be long unless everyone cooperates and plays by the rules. editor ) Employment Rates Kit, There are only 40 states listed. Where are the other 10 states? Sincerely, Todd Schwartz todds@leaseapp.com Capital Funding Group Washington State Your list cuts off after RI and does not include all 50 states.... Wyoming may sue... I wonder if it's still the only state in the union with diminishing population because of lack of jobs. :) DuaneRuss@aol.com Archie Julian of Dumac and others have asked the same question. This story came from Associated Press. I went back, and I did reproduce their list. I did not count the states in advance. I am assuming readers looked for their state, such as Duane, and when they didn’t find it, realized it was not a complete list. For those interested in the original report where the statistics came from, you will find it as the last story. editor ) UniCapital Plan Filed UniCapital Corp. filed a First Amended Plan of Reorganization and related Disclosure Statement with the U.S. Bankruptcy Court. ____________________________________________________________________________ Mortgage rates rise
By
Associated Press, WASHINGTON (AP) Mortgage
rates around the country rose this week after 30-year mortgage rates
recently dropped to their lowest level in 30 years of record keeping.
The average interest
rate on 30-year fixed-rate mortgages climbed to 6.75 percent from 6.51
percent last week, according to a nationwide survey released Wednesday
by Freddie Mac, the mortgage company. Two weeks ago, 30-year
mortgage rates fell to 6.45 percent, the lowest level since Freddie
Mac began conducting its nationwide survey in 1971. Even with the uptick,
this week's rate of 6.75 percent marked the 15th week in a row that
30-year mortgages have been under 7 percent. Fifteen-year mortgages,
a popular option for refinancing, rose to 6.24 percent this week. That
compared with 5.98 percent the previous week. A year ago, rates for
30-year mortgages averaged 7.73 percent and rates for 15-year mortgages
averaged 7.41 percent. On one-year adjustable-rate
mortgages, lenders were asking an average initial rate of 5.18 percent,
up from 5.06 percent from the previous week. Last year at this time,
ARMs stood at 7.28 percent. These rates do not include
add-on fees known as points, which averaged around 1 percent of the
loan amount for all three types of mortgages. Mortgage rates rose in
response to some recent economic indicators in November suggesting that
the recession may be shallow, said Freddie Mac's chief economist Robert
Van Order. ''With mortgage rates rising this week, the industry may
well see a rush to lock in or refinance at current mortgage rates.''
Invitation You
are invited to celebrate Jeff Wong’s life on Wednesday, November
28 at 6:30 p.m. at 624 Taylor Street in San Francisco. _____
#### ################## ########################## The board of directors of Mellon Authorize 25 Million Repurchase of Shares
Financial Corporation (NYSE: MEL) today authorized a new repurchase program
covering 25 million shares of Mellon common stock. This new program will take
effect following the completion of an existing 25 million share repurchase
program approved in May 2001, which is expected to be completed by the end of
2001. Mellon had about 468 million common shares outstanding as of
September 30, 2001.
"Consistent with Mellon's strategy to aggressively manage our capital
base, Mellon will invest its excess capital in our high-growth, high-return
businesses, acquisitions that are consistent with our growth strategy, and
share repurchases," said Martin G. McGuinn, Mellon chairman and chief
executive officer.
Since January 1, 1999, Mellon's board has authorized six repurchase
programs for a total of 125 million shares.
Mellon Financial Corporation is a global financial services company.
Headquartered in Pittsburgh, Mellon is one of the world's leading providers of
asset management, trust, custody, benefits consulting and administration,
shareholder services and cash management, and offers a comprehensive array of
banking services for affluent individuals and corporations. Mellon has more
than $2.6 trillion in assets under management, administration or custody,
including more than $545 billion under management. Its asset management
companies include The Dreyfus Corporation and Newton Investment Management
Limited (U.K.). #### ######### ###### ############################# IFS International Holdings, Inc. Announces Appointment Of New President and CEO
Strategic Review Results in Unwinding of Global Insight Group Ltd. Acquisition
And IFS International Inc. Staff Reductions
TROY, N.Y., / --
IFS International Holdings, Inc. (OTC Bulletin Board: IFSH) (BSE: EFT) (IFS or
the Company) has appointed Mr. Per Olof Ezelius as IFS' new President and CEO
for both IFS International Holdings, Inc. and its subsidiary IFS International
Inc. Mr. Ezelius is also the President and CEO of Network Controls
International Inc. (NCI) and was the owner of NCI before merging with IFS in
January 1998.
Mr. Simon Theobald has resigned as the President and CEO of the Company,
as well as including all other executive and board positions within the IFS
Group. A mutually agreed upon Release and Separation Agreement has been
executed.
Mr. Ezelius said, "I am honored by the vote of confidence of the IFS
Board, and I appreciate the opportunity to address the significant challenges
currently facing the Company. I have a strong personal vested interest in
seeing the Company succeed. IFS has great potential, and it will take a lot
of dedication and team effort to properly explore and realize that potential."
Mr. James Denney, Chairman of IFS, stated, "Per Olof has the support and
confidence of the entire board. As part of the Strategic Review process
currently under way, we will be making some difficult, but essential,
decisions regarding the Companies' business and structure. We are very
fortunate to have Per Olof's talent, experience, commitment and vision for the
future to lead the Company in that effort."
As part of the Strategic Review, IFS has entered into a Termination
Agreement that will unwind the acquisition of Global Insight Group Ltd (GIG),
based in the UK and acquired by the Company in December of 1999. The
separation will enable both Companies to focus on their respective core
businesses. Both Companies hope to leverage their respective core
competencies by continuing to partner on projects in the future.
As part of that agreement, the founding GIG principals will return 431,531
IFS common shares to the IFS corporate treasury in exchange for the GIG shares
held by IFS. Also, IFS has agreed to a payment plan for a total of $52,500 to
be paid to GIG over a five-month period beginning in November 2001. The IFS
shares will be held in escrow until IFS has completed its payment obligation
to GIG.
The Company has recently reduced staff at IFS International Inc. by a
total of 12 positions. Based on the current financial and operational
situation, it is anticipated that there will be no further reductions of IFS
International Inc. staff levels in the near future.
The Company will conduct a conference call on November 29, 2001, at 10:00
a.m. to discuss the Strategic Review, financial and operational issues, and to
provide an update of the financial projections for the current fiscal year.
All interested parties may access the conference call by dialing
(800) 500-0311 for domestic calls and (719) 457-2698 for international calls.
About IFS International Holdings, Inc.
IFS International, Inc. and Network Controls International, Inc. are
subsidiaries of IFS International Holdings, Inc. that has headquarters in the
USA and subsidiary offices in the USA, UK and Australia.
IFS International, Inc. develops, markets and supports software products
for the electronic financial market. IFS International's TPII and TP-CMS
products provide support for ATMs, Point of Sale devices, network switches,
smart cards and card management.
NCI, Inc. develops innovative retail delivery applications like NCI
Business Centre(TM) which combines network centric and browser based
technologies in "One Application" to automate all delivery channels such as
branch teller, platform service, call center, internet banking and customer
relationship management.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including, but not limited to, risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions, and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
#### ############################# ####################
Unemployment rates Regional and state unemployment rates generally moved upward in October. Unemployment rates were higher over the month in 33 states, lower in 8 states and the District of Columbia, and unchanged in 9 states, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The national jobless rate rose to 5.4 percent in October. Nonfarm employment decreased
in 35 states and the District of Columbia.
The regional and state labor market data for the month of October reflect the impact of the terrorist attacks of September 11. The labor market had
been weakening before the attacks, and those events exacerbated this weakness.
While it is not possible to quantify the terrorist attacks' effect on
employment and unemployment, the broad impact of these events is evident, particularly in the nonfarm employment data.
Regional Unemployment (Seasonally Adjusted)
The West continued to report the highest unemployment rate, 5.6 percent in October. The Midwest and Northeast registered the lowest rates, 4.6 percent
each. All four regions posted rate increases of 0.8-1.0 percentage point over
the year. (See table 1.)
Among the nine geographic divisions, the Pacific division continued to
record the highest unemployment rate, 5.9 percent in October. The West North Central division again reported the lowest rate, 3.8 percent, slightly
below the 3.9 percent registered in New England. The Mountain and South
Atlantic divisions had the largest rate increases from September, 0.4 percent-
age point each. Over the year, New England experienced the sharpest increase
in its jobless rate, 1.4 percentage points. The next largest increases were
reported in the East North Central, Mountain, and South Atlantic divisions,
1.2 points each over the year.
State Unemployment (Seasonally Adjusted)
All four states with unemployment rates of 6.0 percent or more in October were in the West. Washington and Oregon reported the highest rates, 6.6 and
6.5 percent, respectively. The District of Columbia's rate was 6.3 percent.
Three of the four states with the lowest rates in October were located in the Great Plains--North Dakota, 2.0 percent, Nebraska, 3.0 percent, and South
Dakota, 3.1 percent; Delaware also had a rate of 3.0 percent. (See table 3
and chart 1.) West Virginia recorded a new series low of 4.4 percent.
(Virtually all regional and state series begin in 1978.)
Twelve states recorded over-the-month increases of at least 0.4 percentage point, while only four had decreases of an equal magnitude. Nevada recorded
the largest over-the-month rate increase, 1.5 percentage points, due in large
part to declines in hotel and casino employment. Hawaii registered the
second largest increase, 0.9 point, following a drop-off in tourism and related
activities. The largest over-the-month declines in jobless rates were
reported in Arkansas, -0.6 percentage point, and Alaska and West Virginia,
-0.5 point each.
Over the year, jobless rates were up in 42 states and the District of Columbia, down in 6 states, and unchanged in 2 states. South Carolina recorded the largest rate increase, 2.3 percentage points, with Indiana and
Nevada posting the next largest increases, 2.0 points each. In South
Carolina, joblessness rose steadily over the last year, while the increase
in Indiana was concentrated in the last six months and most of the Nevada
increase occurred abruptly. Nineteen additional states experienced over- the-year rate increases of at least 1.0 percentage point, and 12 more had
increases of at least one-half point. West Virginia posted the largest
rate decline from a year ago (-1.1 percentage points), followed by Delaware (-0.9 point) and North Dakota (-0.6 point). No other state reported a decline larger than 0.3 percentage point.
Nonfarm Payroll Employment (Seasonally Adjusted)
From September to October, total nonfarm employment rose in 15 states and decreased in 35 states and the District of Columbia. The largest employment gains were reported in New Jersey (15,400), followed by Florida (11,800) and Louisiana and Wyoming (3,100 each). Wyoming had the largest
over-the-month percentage increase in employment (1.3 percent), trailed by New Jersey (0.4 percent) and Florida, Louisiana, Rhode Island, and Vermont
(0.2 percent each). The largest over-the-month employment decreases
occurred in New York (-62,200), Texas (-27,800), Georgia (-25,000), and
North Carolina (-21,200). The largest percentage declines were posted in
Hawaii (-2.1 percent), Nevada (-1.2 percent), and Maine and New York
(-0.7 percent each). (See table 5.)
While it is not possible to precisely quantify the job-market effects of
the terrorist attacks of September 11, the broad impact of these events is
evident in certain states and industries. The events of September 11 contributed to employment declines in travel-related industries, which were
already weak. Most travel-related industries are found in transportation
and public utilities (air transportation and transportation services) and
in services (hotels). Thirty-five states reported over-the-month employment decreases in transportation and public utilities, and 32 states and the District of Columbia had declines in services. Nevada and Hawaii, two states where tourism-related industries are a significant portion of services,
reported the largest percentage declines in services employment, -2.4 percent
and -2.0 percent, respectively. Of the 62,200 jobs lost in New York, 22,800
were in finance, insurance, and real estate, 13,700 were in services, and 11,200 were in trade. Some of the job loss experienced in New York, parti-
Particularly in the finance, insurance, and real estate industry, results from firms relocating to New Jersey following the September 11 building destruction-
in New York City.
Over the year, employment increased in 28 states and the District of Columbia, with 3 states reporting gains of 2.0 percent or greater. The largest employment increases were in Florida (196,300), Texas (136,800),
and California (103,200). Wyoming recorded the biggest percentage increase
in employment (2.8 percent), followed by Florida (2.7 percent) and Alaska (2.1 percent). The states with the greatest percentage decreases in employment were Oregon (-1.8 percent), Mississippi and Missouri (-1.7 percent
each), and Alabama and Indiana (-1.6 percent each). (See chart 2.)
Employment increased in most industry divisions over the year. Gains in
government were widespread, with 43 states and the District of Columbia experiencing increases. Services and finance, insurance, and real estate also showed widespread employment gains, with increases in 38 and 37 states, respectively. Manufacturing remained the weakest industry division, with
47 states posting over-the-year employment losses and 2 states unchanged. This is the “signature” to the e-mail version, included today because it is Thanksgiving November 22,1899 Hoagie Carmichael Birthday http://www.firstmonday.org/issues/issue5_6/brancolini/ Moon enters First Quarter phase at 9:31pm, California time.
1621,history records the earliest American harvest festival was celebrated in early December by the Pilgrims at Plymouth, Mass. A peace treaty and defensive alliance between the Wampanoag Indians and the Pilgrims was concluded at Strawberry Hill, Plymouth, Mass. Arranged by Squanto, an English-speaking Indian, it was one of the earliest recorded treaties between Europeans and Indians in North America. Squanto had been kidnapped and sold as a slave in Spain. He escaped to England, where he learned English, and lived in Newfoundland for a time before returning to Massachusetts in 1619.
Meat and bird were rare. Turkeys flourished in Pennsylvania, but not here. Seafood was the main source of nutrition women and children arriving in New England year to join their Pilgrim husbands and fathers. settlers were feasted with “a lobster or a piece of without bread or anything else but a cup of spring water.” Many lobsters weighed 25 lbs. and were so abundant that the smallest child could catch them. Clams, mussels, and fish stew were also popular dishes.
1631, the first public thanksgiving, a fast day, was celebrated in Massachusetts Bay Colony, on February 22, though history records many private celebrations before this date.
1789, Thanksgiving Day was celebrated for the first time as a national holiday. Pres. Washington, at the request of Congress, had proclaimed it a day of thanksgiving for the Constitution. Anti-Federalists protested that his proclamation violated states rights.
1864, Oct 3, Thanksgiving Day was proclaimed a national holiday by Pres. Lincoln, to be observed on the last Thursday in November. In 1939, Pres. Franklin D. Roosevelt moved Thanksgiving Day one week back to stimulate Christmas shopping.
In 1941, Congress adopted a joint resolution confirming the fourth Thursday, not the last T Thursday, as Thanksgiving Day. IN most states, the Friday after Thanksgiving is also a holiday. In Nevada, it is called Family Day.
1899, Hoagland Howard Carmichael, attorney who gave up the practice of law to become an actor and songwriter. American songwriter, pianist, and singer, b. Bloomington, Ind. While still a student at Indiana Univ. he was influenced by a number of jazz musicians. Several of his jazz tunes, e.g., "Riverboat Shuffle (1924), became popular in the 1920s. He went on to write many songs, of which "Stardust (1929) is best known. Others include "Georgia on My Mind (1930), "The Nearness of You (1938), "Skylark (1942), and "In the Cool, Cool, Cool of the Evening (1951, Academy Award). Carmichael also played in and recorded with a number of bands. His easygoing charm made him a popular celebrity and was apparent in his film roles, e.g., in To Have and Have Not (1944) and Young Man with a Horn (1950). Carmichael died at Rancho Mirage, CA. Dec 27,1981
1910, Arthur F. Knight of Schenectady, NY obtained a patent for a golf club with a steel shaft; it had tapered and tempered steel tubing. Before this date, all clubs were made of wood.
1925, birthday of French hornist-musicologist Gunther Schuller, Jackson Height, NY.
1942, birthday of Guion S. Bluford, Jr., first African-American astronaut in space, West Philadelphia, PA.
1959, The Fort Wayne Pistons used a stall tactic to defeat the Minneapolis Lakers, 19-18, in the lowest-scoring NBA game ever. the game drew a large crowed for fifty cent tickets for father-son night, but was so boring that people were reading newspapers in the stands during play. The game led to the adoption of the 24-second clock in 1954.
Frank Robinson was the first baseball player to win Most Valuable Player in both major leagues. He was elected on November 22,1961, by the Baseball Writers Association for his efforts as a outfielder with the National League’s Cincinnati Reds, and again on November 8, 1966, unanimously, for services with the American League’s Baltimore Orioles. He developed a reputation as an aggressive outfielder and hard-charging base runner. Also a feared hitter, Robinson ranks fourth on the all-time home run list with 586, trailing only Hank Aaron, Babe Ruth and Willie Mays. His intelligence and leadership helped him become the major leagues' first African-American field manager in 1975, when he skippered the Cleveland Indians 1986, center Wayne Gretzky of the Edmonton Oilers scored the 500th goal of his National Hockey League career in only his 575th game, a 5-2 victory of the Vancouver Canaucks.
1963, there are certain days of the month we never forget. One of my most vivid is this day when President John F. Kennedy was slain by a sniper while riding in an open automobile at Dallas, Texas. Accused assassin Lee Harvey Oswald was killed in policy custody awaiting trail. There has been much controversy about his death and perhaps we would not have escalated the Viet Nam war and the succession of leadership would have changed differently in our country.
Happy Thanksgiving, and please don’t forget our fighting forces in your prayers at dinner tonight. |
Jobless
Claims Fall for Fourth Week in a Row
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