Nostalgia: 2008: The Wild West: The Deregulation of Wall Street

 Tuesday, February 5, 2008 "Cold Calling Cowboy"----The Wild West ; The Deregulation of Wall Street Over the past thirty years there has been a transition from a structured investment environment to one that is "deregulated"---it has been marked by the end of the era of salaried brokers with higher commissions and research, to a world of $7 trades and computer simulations. It has been a movement from wise older traders to young, churn and burn robots. "Where has been the saving,?" you might ask. I like to compare the situation to the airline industry. Years ago, when airfares were higher, and Northwest Airlines had ZERO debt, the transportation industry and financial services industry was seen as a public sector, where the government had a say in an organized and supervised code of conduct for all participants----those days are gone. When I fly, I always feel more comfortable when I know there has been maintanance done on the engines. The cheapest fare is not consoling if I see flames coming from the engines. Ditto for the financial services industry. When investment just becomes a transaction, when people just become a transaction, and when "churn and burn" becomes the overriding element in business, the customer always loses. Consequently, I reject the notion that nostalgia for the good old days of regulation is senile and old fashioned. I believe it just makes economic sense for the investor. Recently a lone French trader for a bank, using "proprietary trading funds", in the throes of breaking up with his girlfriend, took enormous options risk and....despite the bank even knowing about his risks, but not understanding it or choosing to ignore it for fear they would impede some gains, caused a 7 billion dollar loss. Imagine what would happen worldwide if just a dozen or so financial professionals broke up with their girlfriends. Yes. Girls that is something to consider. You may think you are just breaking up....but you might just be causing a global catastrophe. Be True to your man....o.k. In summary. The incredible catastrophe of ENRON was not just ENRON. The real catastrophe was that as a nation we have modeled our financial institutions on ENRON. And we have the major tactic of DELAY, the verb, not the noun. Posted by Evansville Observer at 1:20 PM

Nostalgia: 2013: What President Bush told the Pope

 I spoke with the Pope and disagreed about the Iraq war----I told him "Don't worry it will be a short war."

Nostalgia: 2007: Memories of Northfield, Mn. "Just Like Jesse James"

 In one of those old Cher crooning songs, she sings that she will shoot him down in flames, "Just like Jesse James." Yes. You would have to find an old Cher cassette to get that track, but I did have one for the trip to Northfield this weekend. And---it brought back memories of the fate of Jesse James----and why each year in Northfield, Mn., they celebrate "The Defeat of Jesse James Days" as the centerpiece of their historic heritage. Yes. They have the bricks. They have the historic homes. They celebrate the Defeat of Jesse James.

Click on the post for all the history. Click the link for the Cher video.



In the old days, the banks were not insured. You lose your savings and it is curtains for your family. Jesse James had made quite a name for himself as a bank robber. He was feared nationwide.

On that fateful morning as word spread that Jesse was robbing the bank, each man went and got his gun. They waded in and made a celebrated accounting of themselves. The Jesse James Gang was over. 

Singlehanded, no one of them could have managed it. Together they got the job done.

Nostalgia: OpEd. 2008: "The Fix". ( ed.note. adjust for inflation)

 The Crisis of the Stock Market today was caused, according to the analysts, by the failure of the legislative fix funding the bailout of certain banks by purchasing worthless or mostly worthless securities that had been inappropriately marketed to unsuspecting investors and consisted mostly of very complicated hot air.

On a more concrete level---the fix will be when my children are able to purchase a fairly valued home, at fairly attainable down payment terms, in a loan application that sees their employment at fairly priced wages.

Until all that happens---no matter what the mumbo jumbo of the pundits---there will be no fix. After all it is only the children of the baby boomers who could buy their homes---who else would it be?  

The small rambler homes that sold for $10,500 in 1950 and are now priced for $225,000---what should these homes be priced at in order for any young wage earner making $9.00 an hour in order to purchase it? The higher the wages....the higher the price would be.  

It truly is the golden rule at work. As soon as those compassionate seller agents begin to be very concerned about the wages of the buyers,,,then there may be progress. And as soon as everyone is concerned with developing jobs that pay living wages, then the sooner the homes they have invested a lifetime in, will be able to be sold.

Nostalgia: 2014: Tales From Normal, Mn: Distinguished Economist fears the Poor will cause spike of INFLATION: FICTION

 Just got the tweet...from the bass fishermen at Betty Lou's coffee shop...in Normal, Mn....the iconic coffee shop where all the coffee is double black, and the whipped cream is no extra charge...and where this very morning there was a special guest from the Twin Cities...a celebrated economist who during coffee this morning shared his latest theory...and a theory he has written of in his latest book, well..in fact a theory that he has written about over and over and over again in all of his twenty books over the past 30 years...and that theory is that the very poorest of the poor of America risk the entire economy of the USA by triggering inflation by buying goods during the upcoming Christmas season, with money that they do not have, but might spend anyway with credit that they do not have, but might somehow get...and all this spending will trigger inflation, which could ruin American prosperity, or at least the prosperity of those who have it presently.... The bass fishermen just smiled...and finally after a few minutes, one old guy spoke up: "Ya mean that Wal Mart sales will rise?" The economist replied that he did not understand the question...so the old bass fishermen persisted: "WalMart sales and earnings have been a big disappointment lately since the poor do not have the money to buy much...and consumer staples stocks have also suffered because of the same problem....So it seems that you are fearing that the poor will get jobs that they have stuggled to get in the past, and that they will buy goods that they have not been able to buy in the past...in short...you are saying that if a miracle occurs, there will be inflation...." The economist replied that he still did not understand.

Nostalgia: 2014: Tales from Normal, Mn: Publishers scramble to remove Lies from Books: FICTION

 Just got the tweet from the bass fishermen at Betty Lou's---wild celebrations this morning with free coffee for all as they celebrated the legal victory of Jesse "the body" Ventura in his lawsuit for defamation....and in a postscript, the publisher of the book, HarperCollins is removing the chapter of the book in question...and all over New York this morning, and yes in Wisconsin too, publishers, who are people, cause corporations are people under the Constitution now---publishers are rushing to review their books to see whether they can paste over the lies, or maybe just remove the books from publication...and in related news, the Normal Minnesota Library announced today that they have removed 500 books from circulation...and they were non-fiction...they kept all the light romance novels...which are the most popular requests in the frozen tundra...and all over America online book publishers are wondering where to begin....their first thought is to just publish fiction....stay tuned as I follow this story.

Nostalgia: 9/1/2005: The Power of "NO"; Or How to Sculpt a David

 Any parent who has lived through the "terrible two's" knows how long a day can be when a child first learns the word "no." Thank goodness those terrible days pass. They are a key time of awareness though as the child begins to articulate what he/she likes and dislikes and in the process becomes a unique person.

When Michelangelo was asked by a pundit, "How did you go about sculpting the statue of David?", Michelangelo just answered, " I just cut out the parts that were not David."  

When we know what our goal is, the next key is to say no to the parts that do not fit with the goal. Whether it is athletic training or any endeavor, the power of saying "NO" to the habits and activities that are not part of the champion result we seek is what the game is all about.

Saying NO as a government to the poor and weak is easy. What is required is to say NO to the rich and powerful as well... To administer the law evenly regardless of position. As a community, saying no is important also. Saying NO to greedy special interests and those who disregard the public good for their own end is necessary if we are to sustain the public trust in a government of laws and not just politics. 

Saying No to ones kids, ones friends, (insert your special no here) sure is difficult. In doing so, though, one finally defines who one is. Saying only YES does not define anything. Saying NO got to David. Saying YES alone would have created just a block of granite.

Nostalgia: (11/2005): Why Due Process Matters: Or The Coincidence of Opposites

 Thursday, November 17, 2005

The Coincidence of Opposites; Or, Why Due Process matters 

In any dialogue, in any debate, in any reflection, there are two sides. Two points of view. From ancient times it has been known that the secret of wisdom is getting to the thing that unites them, the central thing they share. This is the "coincidencia oppositorum" or just simply the coincidence of opposites. Once you understand what this is, you can understand how to get beyond it. 

You all know this. I say it's hot. She says it's cold. The thing that unites ---- the evaluation of life by temperature. There is more. To get to the more, you get separate heated seats or blankets or whatever. O.K. 

This coicidence of opposites is why the US Military Lawyers are so insistent on the Geneva Convention. The enemy says all tactics, all terror is available. We say there is a code of conduct. Once we say everything is on the table, we are them. And, we lose. The thing that makes us free is the dignity we live by. That is why the Pentagon rank and file and all veterans want the Geneva Convention upheld. That is why John McCain, the war prisoner, is leading the way for a prohibition against terror tactics by the U.S. Military.

So, it is also that in all violence and abuse of power---- Whether it is local or national, the tendency is for the victim of abuse of power to turn to the same tactic. That is why the U.S. has the concept of due process. That is why we have the rule of law and not tribal eye for eye justice. Something to think about.

Nostalgia: August 2007: Orange Alert: View from the Bridge: Need for Independent Engineering Review

 

Nostalgia: Orange Alert: Reflection: Post Mortem; View from the Bridge: INDEPENDENT ENGINEERING REVIEW

(Ed. note: This is a follow up of the bridge incident in Mpls last week, as well as a reflection on process of all "orange alert" incidents. What it means for us.)

I only was acquainted with one "orange alert." It was a very dark afternoon about "3:20PM. Change of shift in the hospital. A "orange alert" was called. A trailer park had been hit in North Mpls and there were supposedly 15-20 injured. Heavy smoke inhalation. Tornados had ignited a fire. Sketchy info. Staff was alerted by page to stay. 

In an "orange alert" all the usual routine stops and patients are tagged with numbers and they come through "triage" that determines priority.

The problem in this orange alert was that we had sketchy info on what the injuries were. Ambulances were on the way. 

I was the administrative supervisor of admitting, but in a crisis, the triage took over everything. My job that night was to see if I could locate a next of kin of a man who was unconscious from smoke inhalation. I remember the feeling today. Searching through the smokey wallet. Looking for some info to trace who he was. 

After the incident was all over----was the post mortem. The police, fire, and rescue as well as the medical staff met for a brief 20 minute postmortem----what happened, what could have done better, what was done well, done very quickly in sharp professional fashion. No blame. No resentment. I was impressed. 

Last week at the bridge. When the collapse happened, we see the citizens of Minneapolis-----what did they do? Did they say "OH my ...." did they deny? No ---they engaged the situation and rushed to help the victims and the result was impressive. Yes the first responders did a great job. The response of the regular citizen was outstanding as well. Beyond blame and denial. Active and vigorous. 

What does this mean for us? In crisis--professionals act with independent professional conduct, not blame and denial. After two incidents of flooding here in Evansville that have been termed "100 year events", I call for an INDEPENDENT ENGINEERING REVIEW. Without such an independent review, the cost to our community will be enormous. We need to know. We cannot afford not to know.

Nostalgia: 2005: On why the HIGH ground is always the cheapest ground: Memories of Don Sheehan

 

On Why the High Ground is always the cheapest ground; Memories of Don Sheehan-Dale Carnegie Superstar

Don Sheehan was a world famous Dale Carnegie trainer, and in fact won the Carnegie salesman of the year once in the 80's. He was a legend in training business owners in Minnesota, and also trained many in Wisconsin, doing seminars at the Holiday Inn on East Washington for almost a decade. I knew him as a mentor, trainer, and friend.

In his seminars, he would chant out, " Who has the best chocolate? We would all yell out "Hershey". Who has the best ketsup? We would yell, "Heinz". "Yes," he would say, "How interesting that you all agree on this without any discussion. "
He would then go on to show that the best and most profitable way to sell is to be the market leader. To have the HIGH GROUND. To have the highest standards of business conduct. To treat employees the best in the industry. To treat customers the best etc.

Then he went on to cars. What is the best car? We all yelled out "Toyota". He then told a story about one of the cars that he bought that was the cheapest available. ( Insert your own experience here.)
"When you buy the best, he went on, it only hurts once. When you buy the worst, it keeps on hurting forever." Amen. 

Just when I thought he would go on to a moral discussion, since I knew him to be a very devout man, he said, "It has NOTHING to do with morals. It is just BUSINESS. It is the CHEAPEST and most efficient thing to do". He would say," When you tell the truth, you never have to try to remember what you said last time. When you do the books straight, you never have to be afraid of anything."


When we take the high ground, build on the high ground, conduct business on the high ground, we become winners according to Don Sheehan. We avoid the water and snake pits of the lower ground. It has nothing to do with morals. It is just the most economical thing to do. 

Don Sheehan was the author of "Shut up and Sell," and "The Price Book."

Nostalgia: August 2010. Normal Mn celebrates historic destination: FICTION

 

"Normal, Mn. Declares Local Cemetary National Historic Tourist Destination:" FICTION

What a bunch of totally excited folks today in Normal, Mn. as they marched to the local cemetary to celebrate the designation of it as a National Tourist Destination.

It seems that Normal, Mn. wanted to get caught up in the craze of creating tourist destinations, but had just one simple problem....the most substantial and the longest lasting structures were in the cemetary---all of the cheap shacks of the treasured forefathers had long been demolished as unfit for human habitation. 

If you are thinking of a short daytrip from Garrison, or Lake Winnie, or even St. Cloud, think of making the Normal, Mn. graveyard one of your destination points.....This message brought to you by the Grave Society...a 501(3)c organization dedicated to uplifting and caring.

Nostalgia: 2012: Tales From Normal, Mn: FICTION: All the clergy are married in Normal, Mn

All the Clergy are Married in Normal, Mn.: FICTION Well it's spring, and now that the frozen tundra has warmed up, it is time for me to get back up to the cabin in Normal, Mn., the small fishing village near Garrison where I get away from the wild and crazy politics in Wisconsin, and settle in to some peaceful walleye fishing and such, and start each day off at Betty Lou's Cafe, where all the coffee is double strong black, and in a tall blue Minnesota Vikings mug, which are in short supply because Betty Lou is unsure whether the Vikings are going to stay in Minnesota, so the mugs are available for sale, but for $19.95 as a tourist item.....but I digress. I stopped in last Sunday at the Church of the Perpetual Fisherman, and chatted with the resident pastor, who travels between three parishes in Northern Minnesota, but makes his home in Normal, MN with his wife and 3 children...yes he is married, and in fact, he is my hero, along with all of Christ's apostles who were ALL married. Ah if only we could purify the Church and take it back to the days when the focus was on reaching out to spread the WORD rather than whether the proper response is "With your Spirit" or the more correct Hebrew version....." But I digress....and ALL the nuns in Normal, Mn. are Married too....that's the way it always has been in Normal, Mn...Where the nuns have been involved in teaching and such.... 

Nostalgia: Jan 2006: Memories of Judge Ali, or "A Modest Proposal for the Improvement of Justice in Evansville.

 Beloit is about to begin it's own version of Court TV. It will begin broadcasting the municipal court on TV. It's going to be "Judge Joe." It will appeal to those viewers who need to know about their neighbors and what they have been up to, as in disorderly conduct and such. (Click on the post for the full story.)

We in Evansville know a bit about marketing and we can certainly do better. We have seen Judge Judy. O.k. Let's see. We have Judge Tom Alisankus. Now "Judge Tom" would not seem to rhyme much. We need something like "Judge Rocky" to really get attention. But------ if we just shortened the last name a bit-----yes-----Judge Ali---

It's now "Court TV with Judge Ali"-----that's catchy. 

All the revenue from ads would go to support the municipal court. That would be instead of going on high speed chases. Think of the benefits.

We would create jobs for camera folks and make up and lighting. What a fantasy! Revenue way over budget!

Let's not rush too fast on the idea though----We should talk to the Judge first. After all, we should let him have a say in his own name change. Then, there is the question of whether "Judge Ali" is dignified enough." I will let the bloggers weigh in on that. However, it sure is powerful enough. It would strike fear. It sure would deter crime. Just think of the headlines, "Judge Ali levys huge fine...." So it all comes down to the "fear" and "respect" aspects of the name change.

I will leave it up to you.

You make the call.

Nostalgia: 2011: On Plenty: On Satisfaction : On Much much More

 On Plenty; Or, Why a lot of a little is a little and a little of a lot is a lot; Or, a thought on parables

Phil Laut was a new age author that I had the pleasure of meeting in 1984 just after he had published his first book, “Money is my Friend.” In the beginning of this book, Phil examines the nature of “satisfaction.” In real life it is clear that some folks cannot be satisfied by the amount of money they have. Their life is a constant quest followed by the feeling of being disappointed. The question is whether the feeling or the fact comes first? According to Phil Laut, the sense of having plenty comes before the plenty itself, and also the sense of scarcity always comes before the scarcity itself. The feeling comes before the fact. Anyway, this was a pretty striking thought for me back in 1984. Being a man of action. Who would have thought that feeling had anything to do with it. Anyway. 

Phil Laut's whole discussion makes me think back on the parable of the loaves and fishes. The verse goes that the crowd was fed and was “ satisfied. ‘ Now was it that the loaves and fishes were so much multiplied, or was it that in the state of peace their anxiety was reduced and hunger was taken away? From the story, one cannot say for sure. Was the multiplication of the loaves and fishes all about the feeling or the fact ? The reason I point this out is that the parables tell a story to make a point. Might the point have been lost? Lost right in the midst of doing the math. 

Along with the concept of plenty, is the concept of what a “ little” is. And what a “lot” is. We often see people that want to dominate every transaction but in their enthusiasm to get every dime, make sure they fail.. The effort to dominate does not result in huge success. Thus comes the saying, "a lot of a little is a little." 

On the other hand, there is the rule that “ a little of a lot is a lot.” A good example of this is the computer programmer that comes up with a novel idea of how to handle text that can be used worldwide. However, it is just a part of a larger program, a fact he recognizes. In working for the larger program success, his element gets worldwide sales and he becomes rich. 

The key thing that makes this happen is an attitude of allowing others to participate in a large idea and just keep a little for oneself. The attitude comes before the reality. Feeling before fact. 

I still do really like those action movies. This all does make me wonder about those loaves and fishes though.

Nostalgia: 2007: The bin Laden Videos---the challenge

 The BinLaden Videos---the challenge 

Recently the two videos from Osama Bin Laden had put the Evansville Observer himself in quite a tizzy. After all. Imagine an aging guy like Osama, working out of a cave somewhere in Pakistan with a wireless laptop maybe, or maybe with an expensive MAC PRO with video and Final Cut Pro software ---and yes an external generator outside the cave to provide some power once in a while to recharge the batteries.

In short---the guy had some adversity to his production schedule---and yet he publishes two 15 minute videos---and with complex editing and with compression. Yes. 
It appears that he knows far MORE about video than the Observer does. 

Just when I was getting a little jealous about this guys ability to learn new technology while hunkered down in a cave----the news came out that indeed the video was a total fake. What a relief!!!!!

The whole incident could have been a huge black eye to all of us bloggers and yes--even cities too. Imagine being a city, even a city here in God's county, midst the plenty of cheese and the Green Bay Packers....and saying that we just cannot do video and audio for our community civic meetings----but Osama seems to have the ability right out of a cave. Yes. That comparison might have harmed our reputation. 

Relax. They were just a fake.

Nostalgia: 2007: Mason Speaks: No TIF for Eastside per "No But" rule.

 Evansville Observer: Nostalgia: 2007: Mason speaks: NO TIF for Easts...