Although I’ve been telling people I’m 55 for about six months, it wasn’t official until my birthday this past Monday. While I don’t really mind it, how the heck can I possibly be this old already? It wasn’t that long ago that I was playing with the plastic James Bond Attache Case that could shoot rubber bullets! Sheesh!
Tempus Fugit! (Time Flies - for you non-Latin speakers.) Time is kinda like the guy in that old Abbott & Costello movie. The one that scares the crap out of Lou just by slowly saying, over and over: "Slowly I turned; step by step; inch by inch!" The more it happens, the crazier Lou becomes. Time is kinda like that. The more it happens, the crazier I get. Mostly cuz I know I could die at any moment and I still have more than a few things on my bucket list. Such as . . .
* Seeing Bruce Springsteen and the E Street Band in concert
* Visiting Scotland, Wales and Ireland
* Going back to Israel
* Visiting a couple of other countries in the Middle East (Jordan, Lebanon, Saudi Arabia, Egypt.)
* Living abroad doing something worthwhile like working for an aid organization or a ministry of some kind.
* Getting an MDiv degree from Fuller Seminary
* Touring the White House
* Going to a live taping of Saturday Night Live
* Seeing the Red Sox play in Fenway Park
* Seeing the Seattle Mariners in the World Series
* Going to an NCAA Men’s Basketball Final Four where the Oregon State Beavers are the Cinderella team that wins it all.
* Writing a novel
* A date with any of the following future ex-wives: Amanda Peet, Lauren Graham, January Jones, Danica Patrick, Betty Nguyen and of course, Erin Andrews.
* Retiring to a cabin in the woods where it snows a lot in the winter and is warm in the summer.
* Retiring to a condo in the big city where music, food, books and major leagues sports are all within walking distance.
* Retiring to either of the above locations with one (or more) of my future ex-wives.
* Living somewhere closer to where my kids live.
There are probably others but I’m really old and tired and can’t think of any more right now. Time for a nap . . .
Friday, October 30, 2009
Stock Market Update: Friday, October 30, 2009
Apparently the Halloween edition of Live with Regis and Kelly Lee scared the crud out of Wall Street today because the Dow was down almost 250 points and U.S. Bank stock was down almost a whole dang dollar! And if that weren't weird enough, the only banks seeing a gain on our list are local community banks that could go out of business at any moment! Sheesh!
Speaking of ethics (okay, maybe we weren't but this is still semi relevant) I received a link to a good Business Week article today about the impact that strong ethics have on a business. The article is titled: Why Be an Ethical Company? They're Stronger and Last Longer. The article points out that U.S. Bank has “largely avoided the huge fallout” in the financial services industry and points out that we have “a laser-like focus on customer service and on honesty and transparency” that comes from our culture.
It goes on to say that we did not touch “the subprime mortgage securitization market, because they saw it as risky and simply not the kind of business that served the company's long-term interests. I'd wager, as well, that (U.S. Bancorp) didn't feel comfortable asking their employees to sell unethical mortgages to customers, a practice undertaken by many subsidiaries of the big Wall Street investment banks and large bank-holding companies.”
The best paragraph is the last one:
“The moral here is fairly simple: When a company's ethical compass is pointing true north, everything else falls into line. This isn't to say that companies with great ethics don't fail. But it does seem to indicate that companies without good ethics are far more likely to fail due to their inability to sustain or hear an inner voice to guide them through the dark times to the light.”
Stock Price
Speaking of ethics (okay, maybe we weren't but this is still semi relevant) I received a link to a good Business Week article today about the impact that strong ethics have on a business. The article is titled: Why Be an Ethical Company? They're Stronger and Last Longer. The article points out that U.S. Bank has “largely avoided the huge fallout” in the financial services industry and points out that we have “a laser-like focus on customer service and on honesty and transparency” that comes from our culture.
It goes on to say that we did not touch “the subprime mortgage securitization market, because they saw it as risky and simply not the kind of business that served the company's long-term interests. I'd wager, as well, that (U.S. Bancorp) didn't feel comfortable asking their employees to sell unethical mortgages to customers, a practice undertaken by many subsidiaries of the big Wall Street investment banks and large bank-holding companies.”
The best paragraph is the last one:
“The moral here is fairly simple: When a company's ethical compass is pointing true north, everything else falls into line. This isn't to say that companies with great ethics don't fail. But it does seem to indicate that companies without good ethics are far more likely to fail due to their inability to sustain or hear an inner voice to guide them through the dark times to the light.”
Stock Price
Wednesday, October 28, 2009
Stock Market Update: Wednesday, October 28, 2009
So, apparently I over-celebrated my birthday on Monday and was unable to get my act together to send out a stock update on Tuesday. As Scarlet O'Hara says: "Tomorrow is another day." Tomorrow is now today (or something like that) and here's what I think I know . . .
West Coast Bank is made up largely of former U.S. Bank employees who defected to the Soviet Union at the end of the Cold War. By and large they have run a pretty good operation but the downturn in the economy has hit them pretty hard. An article from Monday's Oregonian titled, "West Coast Bank Lands New Funds, New Problems With A Cease-And-Desist Order" details some of the challenges. The opening paragraph kinda gives the high level view of things:
And how about this fun announcement:
Lastly, most of you have probably picked up that I am a BIG fan of Richard Davis and our leadership team as a whole. Today an organization called Glassdoor.com released the results of a fairly unscientific set of reviews identifying the best and worst CEOs in the country. Richard Davis came in at 100 with a approval rating of 61%. He's doing better than POTUS but I think should be ranked a lot higher. The reviews, by both disgruntled and "gruntled" employees (and some ex-employees) are kind of interesting as well, although your mileage may vary.
As far as the market is concerned, West Coast and Bank of the Cascades were both down sharply today and the Dow was down over 100 points. (Geez, I'm beginning to sound like a local news radio guy!)
Stock Price
West Coast Bank is made up largely of former U.S. Bank employees who defected to the Soviet Union at the end of the Cold War. By and large they have run a pretty good operation but the downturn in the economy has hit them pretty hard. An article from Monday's Oregonian titled, "West Coast Bank Lands New Funds, New Problems With A Cease-And-Desist Order" details some of the challenges. The opening paragraph kinda gives the high level view of things:
West Coast Bancorp revealed Monday it successfully raised $155 million in new capital while also divulging that regulators slammed the bank last week with a cease-and-desist order finding that the bank has been operating in an unsafe manner.
And how about this fun announcement:
The Federal Reserve on Wednesday said it ordered Cascade Bancorp (CACB), the parent of Bank of the Cascades, to halt payment of dividends and . . . will have 60 days to submit the capital plan, taking into account allowances for loan and lease losses, concentration of credit, and projected retained earnings.
Lastly, most of you have probably picked up that I am a BIG fan of Richard Davis and our leadership team as a whole. Today an organization called Glassdoor.com released the results of a fairly unscientific set of reviews identifying the best and worst CEOs in the country. Richard Davis came in at 100 with a approval rating of 61%. He's doing better than POTUS but I think should be ranked a lot higher. The reviews, by both disgruntled and "gruntled" employees (and some ex-employees) are kind of interesting as well, although your mileage may vary.
As far as the market is concerned, West Coast and Bank of the Cascades were both down sharply today and the Dow was down over 100 points. (Geez, I'm beginning to sound like a local news radio guy!)
Stock Price
Monday, October 26, 2009
Stock Market Update: Monday, October 26, 2009
Everybody sing!
Happy Birthday to me!
Happy Birthday to me!
The Ducks win.
The Beavs lose.
The Yankees win.
The weather is crappy.
The check engine light came on in my car and it wouldn't get out of 2nd gear.
Someone I used to know and love sent me a birthday greeting with a verse about the importance of avoiding evil.
Some nut case tried to sneak across the border from Denmark to Norway with fourteen (14) pythons and 10 lizards in his pants!
And I turn 55 today. Could die at any moment.
Happy Birthday to me!
So, if you're wondering why the stock market is down, blame me. (Except for Bank of the Cascades which must have had some good news in some of the valuation reports released today . . .)
Stock Price
Happy Birthday to me!
Happy Birthday to me!
The Ducks win.
The Beavs lose.
The Yankees win.
The weather is crappy.
The check engine light came on in my car and it wouldn't get out of 2nd gear.
Someone I used to know and love sent me a birthday greeting with a verse about the importance of avoiding evil.
Some nut case tried to sneak across the border from Denmark to Norway with fourteen (14) pythons and 10 lizards in his pants!
And I turn 55 today. Could die at any moment.
Happy Birthday to me!
So, if you're wondering why the stock market is down, blame me. (Except for Bank of the Cascades which must have had some good news in some of the valuation reports released today . . .)
Stock Price
Friday, October 23, 2009
Stock Market Update: Friday, October 23, 2009
I ran across an article on Motley Fool last week titled, "The Biggest Failure of the Year." It discusses the 500,000 mortgages that are now in "trial modification plans" and how successful (or not) this approach may be. What the article points out is that "within three months of modification, more than 40% of borrowers found themselves back in delinquency" of 30 days plus. AND a year after the modifications, about 50% of borrowers were delinquent 90 days or more! Yeesh!
The reason (according to the article) is that "modifications aren't targeting the right issue." In most cases, the average LTV (loan to value) actually increased as a result of the modifications because, generally, late payments and fees, are just "capitalized onto the existing balance." As a result, many borrowers end up feeling an even stronger incentive to walk away from the debt.
The article also pointed out that, by and large, banks aren't doing that many modifications anyway, (only 3% or so at U.S. Bank) so it's not likely to have a significant impact.
I think the article is worth a read and, if you're like me (and I know you're glad you're not) it may leave you with an even stronger sense that homeowners who are underwater are just gonna have to figure out how to swim on their own. As Dr. Phil says: "No matter how thin the pancake is, there's always two sides to it." In this case, this article only looks at one side of the story . . .
In other news . . .
Due to the crummy "I just want to be at home and read a book in front of the fireplace" weather today AND the genuine concern both Duck and Beaver fans should have about beating their opponents this weekend, the stock market fell a bit today . . .
Stock Price
The reason (according to the article) is that "modifications aren't targeting the right issue." In most cases, the average LTV (loan to value) actually increased as a result of the modifications because, generally, late payments and fees, are just "capitalized onto the existing balance." As a result, many borrowers end up feeling an even stronger incentive to walk away from the debt.
The article also pointed out that, by and large, banks aren't doing that many modifications anyway, (only 3% or so at U.S. Bank) so it's not likely to have a significant impact.
I think the article is worth a read and, if you're like me (and I know you're glad you're not) it may leave you with an even stronger sense that homeowners who are underwater are just gonna have to figure out how to swim on their own. As Dr. Phil says: "No matter how thin the pancake is, there's always two sides to it." In this case, this article only looks at one side of the story . . .
In other news . . .
Due to the crummy "I just want to be at home and read a book in front of the fireplace" weather today AND the genuine concern both Duck and Beaver fans should have about beating their opponents this weekend, the stock market fell a bit today . . .
Stock Price
Stuff My Mom Says
I spent last week in Salt Lake City with my Mom and her two sisters, Eleanor and Irene. My Mom is 80, Eleanor is 76 and Irene is 72. I got to see a few friends while I was there, as well, but most of my time was spent with my Mom and my two aunts. Truth be told, I had a GREAT time! There is something pretty dang fun about hearing about all those family secrets, I guess.
Even more fun is listening to some of the funny things my Mom comes up with. I’ve probably told you that she suffers from a type of dementia that sometimes makes it hard for her to remember specific words or put together sentences as easily as she once did. I kinda suspect, however, that she knows exactly what she’s doing and uses it as an excuse to say whatever she wants.
In any event, the things she said struck me as so funny that I began to tweet about them and post them to Facebook as well. So, here are some of the things I sent out last week to let the world know how funny my Mom is – with a few other random thoughts along the way . . .
Saturday, October 10th:
* From the Portland Airport: WHAT?!?!? Delta charges $20 for EVERY BAG you check? Not even ONE free? Screw health care! Congress needs to deal with this issue NOW!
Sunday, October 11th:
* Stuff my Mom says: (While watching football - against her will) “Is that what your son does?" "No Mom. Jeremy is a basketball coach."
Monday, October 12th:
* Stuff my Mom says: (After my Aunt Irene turns on a small indoor water fountain) "Who's peeing?
* Stuff my Mom says: "Do you have a girlfriend here?" Me: "No Mom, I don't have a girlfriend in Utah or anywhere else, for that matter."
Tuesday, October 13th:
* Stuff my Mom says: "Opa . . . setic. Opra . . .setic" "No that's no right Mom. It's COPAsetic." "Yes, that's it. I like that word. What does it mean again?" (It means “everything is just fine, A-OK, groovy, etc., by the way.)
Wednesday, October 14th:
* Stuff my Mom says: (Pointing to the "OS" on my Oregon State jacket) "O S . . ." "Do you know what that stands for Mom?" "Uh, ass? Oh no!"
Thursday, October 15th:
* Stuff my Mom says: (after picking up a piece of French toast she accidentally dropped on the floor) "Does anyone want this?"
* Stuff My Mom Says: (Special "Mom laughing after she stuck her tongue out at me for taking her picture" edition")
* Stuff my Mom says: "When we were growing up my sisters and I were all swingers . . . er, I mean singers!"
* Stuff my Mom says: (Me) "Dad fell for you because of a picture of your sister, Clara, holding a huge salmon that you said was YOU?" "Yes."
NOTE: Below is a picture of my grandpa and my aunt Clara, from when she was in high school. She was just two years younger than my Mom and looked a lot like her, so I can see why my Dad might have mistaken her for my Mom. My Mom, on the other hand, was apparently some kind of scheming , man-hungry, manipulator!
* Stuff my Mom says - special Aunt Irene edition: "Billie you could have your marriage annulled for getting married under false pretenses!"
* Stuff my Mom says: "Then there Hollis. His wife died and he was looking for a new husband." "Really Mom?" "No, I mean, you know - a her!"
Friday, October 16th:
* Stuff my Mom says: (after telling about some incident where I did something stupid) "I'll never forgive, I mean forget you for that
* Stuff my GRANDMA said: "If I had gotten divorced I wouldn't have fought for the children." (As a mother of 12 it's kinda understandable!)
* Stuff my Mom says: "I was so surprised to find out I wasn't normal."
* Stuff my Mom says: "It's 'you're smarter than I' not 'you're smarter than ME.'" (Once an English major, always an English major!)
Saturday, October 17th:
* Stuff my Mom says: "What's happening?" "The TSA picked you for screening 'cuz no one looks more like a terrorist than an 80 year old woman."
NOTE: Yep, that’s right. As we’re going through the airport screening process in Salt Lake City, they singled out my Mom for additional screening! We were escorted into a room where they frisked her from head to toe, looked through her purse and asked her some questions to make sure that (at 80 years of age, suffering from dementia and riding in a wheelchair) she didn’t have some plastic explosives or a box cutter that she could have used to overpower the flight crew and take over the plane. (Thankfully they never found the Glock she had concealed in a holster on her right leg.)
And finally . . .
* Stuff my Dad does while I'm gone: Puts this fabulous home made bumper sticker on my car!
Even more fun is listening to some of the funny things my Mom comes up with. I’ve probably told you that she suffers from a type of dementia that sometimes makes it hard for her to remember specific words or put together sentences as easily as she once did. I kinda suspect, however, that she knows exactly what she’s doing and uses it as an excuse to say whatever she wants.
In any event, the things she said struck me as so funny that I began to tweet about them and post them to Facebook as well. So, here are some of the things I sent out last week to let the world know how funny my Mom is – with a few other random thoughts along the way . . .
Saturday, October 10th:
* From the Portland Airport: WHAT?!?!? Delta charges $20 for EVERY BAG you check? Not even ONE free? Screw health care! Congress needs to deal with this issue NOW!
Sunday, October 11th:
* Stuff my Mom says: (While watching football - against her will) “Is that what your son does?" "No Mom. Jeremy is a basketball coach."
Monday, October 12th:
* Stuff my Mom says: (After my Aunt Irene turns on a small indoor water fountain) "Who's peeing?
* Stuff my Mom says: "Do you have a girlfriend here?" Me: "No Mom, I don't have a girlfriend in Utah or anywhere else, for that matter."
Tuesday, October 13th:
* Stuff my Mom says: "Opa . . . setic. Opra . . .setic" "No that's no right Mom. It's COPAsetic." "Yes, that's it. I like that word. What does it mean again?" (It means “everything is just fine, A-OK, groovy, etc., by the way.)
Wednesday, October 14th:
* Stuff my Mom says: (Pointing to the "OS" on my Oregon State jacket) "O S . . ." "Do you know what that stands for Mom?" "Uh, ass? Oh no!"
Thursday, October 15th:
* Stuff my Mom says: (after picking up a piece of French toast she accidentally dropped on the floor) "Does anyone want this?"
* Stuff My Mom Says: (Special "Mom laughing after she stuck her tongue out at me for taking her picture" edition")
* Stuff my Mom says: "When we were growing up my sisters and I were all swingers . . . er, I mean singers!"
* Stuff my Mom says: (Me) "Dad fell for you because of a picture of your sister, Clara, holding a huge salmon that you said was YOU?" "Yes."
NOTE: Below is a picture of my grandpa and my aunt Clara, from when she was in high school. She was just two years younger than my Mom and looked a lot like her, so I can see why my Dad might have mistaken her for my Mom. My Mom, on the other hand, was apparently some kind of scheming , man-hungry, manipulator!
* Stuff my Mom says - special Aunt Irene edition: "Billie you could have your marriage annulled for getting married under false pretenses!"
* Stuff my Mom says: "Then there Hollis. His wife died and he was looking for a new husband." "Really Mom?" "No, I mean, you know - a her!"
Friday, October 16th:
* Stuff my Mom says: (after telling about some incident where I did something stupid) "I'll never forgive, I mean forget you for that
* Stuff my GRANDMA said: "If I had gotten divorced I wouldn't have fought for the children." (As a mother of 12 it's kinda understandable!)
* Stuff my Mom says: "I was so surprised to find out I wasn't normal."
* Stuff my Mom says: "It's 'you're smarter than I' not 'you're smarter than ME.'" (Once an English major, always an English major!)
Saturday, October 17th:
* Stuff my Mom says: "What's happening?" "The TSA picked you for screening 'cuz no one looks more like a terrorist than an 80 year old woman."
NOTE: Yep, that’s right. As we’re going through the airport screening process in Salt Lake City, they singled out my Mom for additional screening! We were escorted into a room where they frisked her from head to toe, looked through her purse and asked her some questions to make sure that (at 80 years of age, suffering from dementia and riding in a wheelchair) she didn’t have some plastic explosives or a box cutter that she could have used to overpower the flight crew and take over the plane. (Thankfully they never found the Glock she had concealed in a holster on her right leg.)
And finally . . .
* Stuff my Dad does while I'm gone: Puts this fabulous home made bumper sticker on my car!
Wednesday, October 21, 2009
Stock Market Update: Wednesday, October 21, 2009
At one point today U.S. Bank was well over $25 a share as a result of today's announcement of our great third quarter results - not to mention beating analysts expectations for the quarter! However, it settled down a bit in the final hours and we ended the day at $24.43. Still a dang good day for U.S. Bank, especially considering the Dow dropped back below 10,000 points.
If you want to see how folks have reacted to our earnings announcement, check out the links on the Yahoo Finance page for U.S. Bancorp. It has lots of links to what folks are saying about us today. In addition to great comments about beating analysts expectations for the quarter, there was this, in the lead paragraph from the Wall Street Journal story: "U.S. Bancorp views its rising revenue and profits in the third quarter as confirmation that, in banking, boring is better." Boring is better. Sheesh! I know what they mean but my feelings are still hurt.
One other big weird interesting thing in the market today. In addition to U.S. Bank, Morgan Stanley and Wells Fargo also announced really great quarterly results today. However, there is this big hotshot analyst named Richard Bove, who raised some concerns about Wells Fargo's non-performing loans, which have been increasing at a much faster pace than other peer banks. That drove their stock price down pretty steeply, as a result. Imagine how they must feel. Announcing GREAT financial results in the morning, only to have some dude throw cold water on the whole thing in the afternoon! (By the way, U.S. Bank looks dang good in comparison to our peers.)
Stock Price
If you want to see how folks have reacted to our earnings announcement, check out the links on the Yahoo Finance page for U.S. Bancorp. It has lots of links to what folks are saying about us today. In addition to great comments about beating analysts expectations for the quarter, there was this, in the lead paragraph from the Wall Street Journal story: "U.S. Bancorp views its rising revenue and profits in the third quarter as confirmation that, in banking, boring is better." Boring is better. Sheesh! I know what they mean but my feelings are still hurt.
One other big weird interesting thing in the market today. In addition to U.S. Bank, Morgan Stanley and Wells Fargo also announced really great quarterly results today. However, there is this big hotshot analyst named Richard Bove, who raised some concerns about Wells Fargo's non-performing loans, which have been increasing at a much faster pace than other peer banks. That drove their stock price down pretty steeply, as a result. Imagine how they must feel. Announcing GREAT financial results in the morning, only to have some dude throw cold water on the whole thing in the afternoon! (By the way, U.S. Bank looks dang good in comparison to our peers.)
Stock Price
Tuesday, October 20, 2009
Stock Market Update: Tuesday, October 20, 2009
Reason #401 in our continuing series: Why U.S. Bank is the Best Bank in America and Other Banks Are Just Big Fat Losers:
* On his own initiative, Richard Davis took a 5% pay cut like the rest of us this year AND (according to our annual report) refused his 2008 bonus.
* According to The Wall Street Journal, the "Treasury Department's pay czar pushed outgoing Bank of America Corp. Chief Executive Kenneth D. Lewis into giving back about $1 million he received so far this year and forgoing the rest of his $1.5 million salary for 2009." He was also asked to give up any 2009 bonus.
One voluntarily goes above and beyond what is required. The other has to be told "no soup for you!"
Reason #402 in our continuing series: Why U.S. Bank is the Best Bank in America and Other Banks Are Just Big Fat Losers:
* The (My Little) Ponemon Institute, “a privacy and information management research firm, has released the 2009 Privacy Trust Study for Retail Banking. For the fourth year, U.S. Bank has ranked first. U.S. Bank has also ranked in the top five each year since the study’s inception in 2003.”
And with tomorrow's earnings report (along with one for Wells Fargo) we may have "Reason #404" to add to the list! It all goes to explain why we dropped a whole entire penny today!
One more thing . . . I added a few new banks to the list today. Some big. Some small.
Stock Price
* On his own initiative, Richard Davis took a 5% pay cut like the rest of us this year AND (according to our annual report) refused his 2008 bonus.
* According to The Wall Street Journal, the "Treasury Department's pay czar pushed outgoing Bank of America Corp. Chief Executive Kenneth D. Lewis into giving back about $1 million he received so far this year and forgoing the rest of his $1.5 million salary for 2009." He was also asked to give up any 2009 bonus.
One voluntarily goes above and beyond what is required. The other has to be told "no soup for you!"
Reason #402 in our continuing series: Why U.S. Bank is the Best Bank in America and Other Banks Are Just Big Fat Losers:
* The (My Little) Ponemon Institute, “a privacy and information management research firm, has released the 2009 Privacy Trust Study for Retail Banking. For the fourth year, U.S. Bank has ranked first. U.S. Bank has also ranked in the top five each year since the study’s inception in 2003.”
And with tomorrow's earnings report (along with one for Wells Fargo) we may have "Reason #404" to add to the list! It all goes to explain why we dropped a whole entire penny today!
One more thing . . . I added a few new banks to the list today. Some big. Some small.
Stock Price
Monday, October 19, 2009
Stock Market Update: Monday, October 19, 2009
Sheesh! I'm gone for a week and the Dow climbs over 10,000, Sterling Financial gets a "cease and desist" order and Bank of the Cascades finally plunges below a dollar a share on news that they believe they can pull a rabbit out of a hat by selling "up to $70,000,000 of its common stock . . . to support its regulatory capital needs and growth and to use the remainder for general working capital purposes." (At their current stock price, any one of us can probably afford to buy them outright!)
But the coolest news should come Wednesday when U.S. Bank announces our third quarter earnings! An article on TheStreet.com pointed out something I didn't realize: "Among the largest 10 banks, U.S. Bancorp is among only three to post profits each quarter for the year ended June 30, along with JPMorgan Chase and Bank of New York Mellon." I'm confident the trend will continue!
Stock Price
But the coolest news should come Wednesday when U.S. Bank announces our third quarter earnings! An article on TheStreet.com pointed out something I didn't realize: "Among the largest 10 banks, U.S. Bancorp is among only three to post profits each quarter for the year ended June 30, along with JPMorgan Chase and Bank of New York Mellon." I'm confident the trend will continue!
Stock Price
Friday, October 9, 2009
Stock Market Update: Friday, October 9, 2009
What crummy day. Once again I lost out on my bid to win the Nobel Peace Prize to some new guy with no experience. Then I hear that NASA flew a rocket into the Moon - on purpose! That really doesn't five me that good, "Everything's Gonna Be All Right" feeling! So, I've decided to take refuge in the Rockies for a week or so until things cool down.
From the "This Kind of Publicity We Don't Need" department comes this story about a woman who blames Bank of America for her husband's death! She “blamed the stress and anxiety caused by Bank of America's unresponsiveness to their repeated efforts to get a (mortgage) loan modification. “I hold you responsible for killing my husband," she told them. She is still fighting to hold onto her house."
As far as the market is concerned, it was another good day with the Dow climbing by 78.07 and closing at 9864.94. Who knows, it might even creep up over 10,000 while I'm gone. (And I plan to take full credit for it when it does!) U.S. Bank stock ended the week strong as well, closing at just under $23 a share.
Stock Price
From the "This Kind of Publicity We Don't Need" department comes this story about a woman who blames Bank of America for her husband's death! She “blamed the stress and anxiety caused by Bank of America's unresponsiveness to their repeated efforts to get a (mortgage) loan modification. “I hold you responsible for killing my husband," she told them. She is still fighting to hold onto her house."
As far as the market is concerned, it was another good day with the Dow climbing by 78.07 and closing at 9864.94. Who knows, it might even creep up over 10,000 while I'm gone. (And I plan to take full credit for it when it does!) U.S. Bank stock ended the week strong as well, closing at just under $23 a share.
Stock Price
Viewer Mail
I’m heading out tomorrow for a weeklong “personal stimulus recovery program.” Well, actually it may be more like an “oblication.” (See the newsletter for the definitions.) In plainer English, I am taking next week off to head to Salt Lake City with my Mom! She has two sisters who live there that we’ll be staying with. They are a blast and I always have a good time hanging out with these three blue-haired ladies cuz they are so dang funny! I’m sure I’ll have a few stories to share when I return! Plus, I will get to see a couple of friends while I’m there as well! All the way around, it should be a pretty groovy week. The benefit for all of you is that you get a week off from all the annoying crap I send your way!
Today, however, I thought I might take time to answer a few questions that have come my way. Kind of a Viewer Mail / Letters to the Editor thing . . .
Q. Where do you find your inspiration each week (favorite writer? wealth of knowledge you pull from? bathroom book?) to keep us all entertained with your daily updates with our stocks, and the newsletter.
A. My “inspiration,” if you can call it that, usually comes through theft and plagiarism. Because I have no life, I read and watch a lot of stuff and have developed a habit of making notes of things I think are funny. (Your mileage may vary.) I have no problem recycling those things into stuff I write and while I generally try to give credit where credit is due, I probably don’t do that as consistently as I should. This is especially true with some of the phrases I seem to use again and again. For example:
* Thanks for coming. Good night and drive safely. Although Sandy and I had a lengthy discussion about whether this came from Dave Garroway on the original Today Show OR maybe Arthur Godfrey, I’m pretty sure I first heard it from David Letterman.
* If you’re like me and I know you’re glad you’re not – Definitely David Letterman
* Holy crap! That’s just me (although I’m convinced that Peter Whatshisname who played Ray Romano’s Dad on Everybody Hates Raymond stole it from me.)
* As a condition of my parole – my old friend Ed Burke
* But I don’t know nuthin’ bout birthin’ no babies – Gone with the Wind via someone I worked with back at the bank who would say this whenever she knew the answer to some operations question.
* Your mileage may vary – Dave Barry – the funniest writer in the world.
* May not be used without the express written consent of Major League Baseball – Uh, Major League Baseball, of course, although this is their OLD disclaimer. Now they say something like “may not be reproduced or rebroadcast without involving a lot of attorneys in ridiculous lawsuits.” Or something like that.
* Okay, sports fans! – George Carlin
* Your Momma Don’t Dance and Your Daddy Don’t Rock and Roll – Loggins & Messina
* It’s only a matter of time – Shawn Crawford (in reference to his wife, Lori)
Q. Have you ever thought to go public?
A. Yes, I have thought to “go public” but I think state law prohibits it. Okay, well, I’ve only gone public in the sense that I write this stuff for people at the bank and I also post stuff to this blog I have. That's all the outlet I need. For now.
Q. Are you depressed? Should we be worried about you?
A. My coworkers ask me this every once in a while, maybe because I kinda hole up in my office to work. Or to pretend to work, anyway. While they usually act as if they don't care if I live or die, my best guess is that they ask because they'll be gunning for my job in the event of my untimely demise. Okay, that’s not really true and it’s nice that they care about me. To answer the question, I’m not someone who is depressed very often. I can usually see the lighter side of things in any situation. Even death can be funny! (Divorce, I’m not so sure about though.) I don’t get down very often BUT I am a real live, over the top, hardcore INFJ introvert and am pretty happy being on my own. At work. At home. Wherever. So just leave me alone, okay?
Q. Who are the four main stars of Leave It To Beaver?
A. Hugh Beaumont as Ward Cleaver. Barbara Billingsley as June Cleaver. Tony Dow as Wally Cleaver. And Jerry Mathers as The Beaver. (And just to take my nerdiness one step further – Ken Osmond as Eddie Haskell.)
And with that, I think I’ll be done for a week or so. See you when I get back. Or annoy you anyway . . .
Today, however, I thought I might take time to answer a few questions that have come my way. Kind of a Viewer Mail / Letters to the Editor thing . . .
Q. Where do you find your inspiration each week (favorite writer? wealth of knowledge you pull from? bathroom book?) to keep us all entertained with your daily updates with our stocks, and the newsletter.
A. My “inspiration,” if you can call it that, usually comes through theft and plagiarism. Because I have no life, I read and watch a lot of stuff and have developed a habit of making notes of things I think are funny. (Your mileage may vary.) I have no problem recycling those things into stuff I write and while I generally try to give credit where credit is due, I probably don’t do that as consistently as I should. This is especially true with some of the phrases I seem to use again and again. For example:
* Thanks for coming. Good night and drive safely. Although Sandy and I had a lengthy discussion about whether this came from Dave Garroway on the original Today Show OR maybe Arthur Godfrey, I’m pretty sure I first heard it from David Letterman.
* If you’re like me and I know you’re glad you’re not – Definitely David Letterman
* Holy crap! That’s just me (although I’m convinced that Peter Whatshisname who played Ray Romano’s Dad on Everybody Hates Raymond stole it from me.)
* As a condition of my parole – my old friend Ed Burke
* But I don’t know nuthin’ bout birthin’ no babies – Gone with the Wind via someone I worked with back at the bank who would say this whenever she knew the answer to some operations question.
* Your mileage may vary – Dave Barry – the funniest writer in the world.
* May not be used without the express written consent of Major League Baseball – Uh, Major League Baseball, of course, although this is their OLD disclaimer. Now they say something like “may not be reproduced or rebroadcast without involving a lot of attorneys in ridiculous lawsuits.” Or something like that.
* Okay, sports fans! – George Carlin
* Your Momma Don’t Dance and Your Daddy Don’t Rock and Roll – Loggins & Messina
* It’s only a matter of time – Shawn Crawford (in reference to his wife, Lori)
Q. Have you ever thought to go public?
A. Yes, I have thought to “go public” but I think state law prohibits it. Okay, well, I’ve only gone public in the sense that I write this stuff for people at the bank and I also post stuff to this blog I have. That's all the outlet I need. For now.
Q. Are you depressed? Should we be worried about you?
A. My coworkers ask me this every once in a while, maybe because I kinda hole up in my office to work. Or to pretend to work, anyway. While they usually act as if they don't care if I live or die, my best guess is that they ask because they'll be gunning for my job in the event of my untimely demise. Okay, that’s not really true and it’s nice that they care about me. To answer the question, I’m not someone who is depressed very often. I can usually see the lighter side of things in any situation. Even death can be funny! (Divorce, I’m not so sure about though.) I don’t get down very often BUT I am a real live, over the top, hardcore INFJ introvert and am pretty happy being on my own. At work. At home. Wherever. So just leave me alone, okay?
Q. Who are the four main stars of Leave It To Beaver?
A. Hugh Beaumont as Ward Cleaver. Barbara Billingsley as June Cleaver. Tony Dow as Wally Cleaver. And Jerry Mathers as The Beaver. (And just to take my nerdiness one step further – Ken Osmond as Eddie Haskell.)
And with that, I think I’ll be done for a week or so. See you when I get back. Or annoy you anyway . . .
Thursday, October 8, 2009
Stock Market Update: Thursday, October 8, 2009
So, this has nothing to do with anything but, holy crap! Check out this seven (7) foot long dog!!! He's drinking straight out of the faucet!
Here's an excerpt from the article in the Bismarck Tribune:
Okay then . . .
Tomorrow's Bismarck Tribune headline: "Several Casselton Toddlers Mysteriously Missing. Ginormous Dog Said To Be 'Person of Interest'"
And in other news . . .
UBS has begun rating some financial institutions and ranked U.S. Bancorp as better than most. Wells Fargo, on the other hand, they see as maybe having some rough times ahead.
The Treasury Department released a report that shows 34 banks who received TARP money did not make dividend payments to the Treasury in August as they should have. While most are small community banks, among them are a couple of biggies: AIG and Citigroup. Is it a sign that these institutions are struggling even more than most? Who knows, but I'm just glad U.S. Bancorp ain't on that list! That's mostly cuz we paid off our TARP money and didn't owe anything as a result. (Although, we did pay in excess of $195 million to the Treasury in prior quarters.)
Stock Price
Here's an excerpt from the article in the Bismarck Tribune:
Boomer may be a buster: Measuring 3 feet tall at the shoulders and 7 feet long from nose to destructive wagging tail, he might be the world's tallest living dog. Owner Caryn Weber says her 3-year-old Landseer Newfoundland keeps all four paws on the floor when he drinks from the kitchen faucet in her family's (Casselton) North Dakota farm house. Boomer stares into car windows eye to eye with drivers. A 20-pound bag of dry dog food lasts the 180-pound canine a couple of weeks. Weber says her furry black and white dog "comes into the house and his tail is so high everything gets knocked around." Weber plans to send Boomer's measurements to Guinness World Records. The previous record holder was a nearly 4-foot-tall Great Dane that died this summer.
Okay then . . .
Tomorrow's Bismarck Tribune headline: "Several Casselton Toddlers Mysteriously Missing. Ginormous Dog Said To Be 'Person of Interest'"
And in other news . . .
UBS has begun rating some financial institutions and ranked U.S. Bancorp as better than most. Wells Fargo, on the other hand, they see as maybe having some rough times ahead.
The Treasury Department released a report that shows 34 banks who received TARP money did not make dividend payments to the Treasury in August as they should have. While most are small community banks, among them are a couple of biggies: AIG and Citigroup. Is it a sign that these institutions are struggling even more than most? Who knows, but I'm just glad U.S. Bancorp ain't on that list! That's mostly cuz we paid off our TARP money and didn't owe anything as a result. (Although, we did pay in excess of $195 million to the Treasury in prior quarters.)
Stock Price
Wednesday, October 7, 2009
Stock Market Update: Wednesday, October 7, 2009
After yesterday's update, a friend sent me a link to a Newsweek article that was written by a guy named Steve Tuttle and is titled, "Welcome To Overdraftville. Population: You. Do we really need Wells Fargo to be our mommy?" I may not agree with everything he says, but he certainly makes some good points, including:
None of this had any impact on the market, of course, which, as usual, did whatever it wanted to do . . .
Stock Price
* Lawmakers want to help people by lowering these fees when what they should be doing is raising them much, much higher. Why not charge at least $100 if you overdraft at the ATM?
* The politicians think they're doing the right thing. They argue that the bank fees disproportionately hurt poor people. Wrong. They disproportionately hurt people who spend money they don't have.
* Really, do you need to be told by the bank that you're about to overdraw your account? Are we so pathetic that we need Wells Fargo to be our mommy? You're the one who spent money you didn’t have. You're lucky they cover it and only charge you a fee instead of letting you go to jail for kiting checks. In the old days they used to have a thing called debtor's prison, and people did not like to go there.
* It really comes down to a simple truth that we seem to have forgotten as a nation: if you spend money that is not yours, guess whose fault that is? And guess who should suffer the consequences of your profligacy? Your bank? The store? No. Welcome to Overdraftville. Population: You.
* Maybe they should put one of those warning labels on your ATM card: "For best results, have money before using."
None of this had any impact on the market, of course, which, as usual, did whatever it wanted to do . . .
Stock Price
Tuesday, October 6, 2009
Stock Market Update: Tuesday, October 6, 2009
The Center for Responsible Lending released a study today titled, "Overdraft Explosion: Bank fees for overdrafts increase 35% in two years." I've never heard of this organization before and their web site says they are, "a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices." While these folks may not be a banker's best friend, their study is getting some notice and it's worth reviewing.
The summary findings, as detailed in this article on The Consumerist, are:
Finding 1: Over 50 million Americans overdrew their checking account at least once over a 12-month period, with 27 million account holders incurring five or more overdraft or non-sufficient funds (NSF) fees.
Finding 2: Banks and credit unions collected nearly $24 billion in overdraft fees in 2008.
Finding 3: Overdraft fee income for banks and credit unions rose 35 percent from 2006 to 2008.
The good news is that U.S. Bank's recent changes to our overdraft policy go a long ways in addressing these concerns - and more!
Speaking of good news, it was another good day on the stock market. Probably because investors heard the news about this clueless guy who left his $100,000 watch in his Ferrari Modena which he parked overnight on the streets of Jersey City only to find the car had been broken into and the watch and other items stolen. More proof that there is one born every minute!
Stock Price
The summary findings, as detailed in this article on The Consumerist, are:
Finding 1: Over 50 million Americans overdrew their checking account at least once over a 12-month period, with 27 million account holders incurring five or more overdraft or non-sufficient funds (NSF) fees.
Finding 2: Banks and credit unions collected nearly $24 billion in overdraft fees in 2008.
Finding 3: Overdraft fee income for banks and credit unions rose 35 percent from 2006 to 2008.
The good news is that U.S. Bank's recent changes to our overdraft policy go a long ways in addressing these concerns - and more!
Speaking of good news, it was another good day on the stock market. Probably because investors heard the news about this clueless guy who left his $100,000 watch in his Ferrari Modena which he parked overnight on the streets of Jersey City only to find the car had been broken into and the watch and other items stolen. More proof that there is one born every minute!
Stock Price
Monday, October 5, 2009
Stock Market Update: Monday, October 5, 2009
A good day for the Dow and for U.S. Bank stock as well. While I have no idea how any of these things might have an impact on the stock market, my best guess for today's results is that it has something to do with any or all of the following:
* Oregon and Oregon State winning on the same day
* USC demonstrating that beating Cal is no big deal - anyone can do it.
* The Twins and Tigers deciding to postpone the final day of the MLB season until tomorrow
* Bret Favre fans / haters likely needing to leave work early to get ready for the big Green Bay / Minnesota Vikings game tonight.
Take your pick!
Stock Price
* Oregon and Oregon State winning on the same day
* USC demonstrating that beating Cal is no big deal - anyone can do it.
* The Twins and Tigers deciding to postpone the final day of the MLB season until tomorrow
* Bret Favre fans / haters likely needing to leave work early to get ready for the big Green Bay / Minnesota Vikings game tonight.
Take your pick!
Stock Price
Friday, October 2, 2009
Stock Market Update: Friday, October 2, 2009
So, despite Oprah, Michelle and Barack's best efforts, the 2016 Summer Olympics will not be held in Chicago but in Rio de Janeiro, Brazil. While it would be cool to have the Olympics in the U.S. I think this may be the first time a city in South America has gotten a shot - and that's cool too. And, being a big fan of the Olympics and The Girl From Ipanema, let me just say that if any of you would like to sponsor me to be your personal correspondent for the games, I'm in!
As far as the market is concerned, not much impact . . .
Stock Price
As far as the market is concerned, not much impact . . .
Stock Price
We've All Got Stuff!
So, last night I’m sitting at home, snuggling with Rudy on the couch, watching Survivor, surfing the web and keeping my phone handy just in case an important text message or Twitter Tweet Thingy comes through. (This is pretty much the same thing I do every evening ‘cuz that’s just how boring my life is.)
My phone “dings” and I look down to see a tweet that announces UO coach Chip Kelly might reinstate suspended running back LeGarrette Blount! Over the next few minutes I get a few more tweets saying the same thing.
And, when I go on Facebook, I see that one of my FB friends, Ryan (famed sports announcer who works with me at U.S. Bank) has posted about it and said, “I’m hoping it’s just a rumor . . .” Me too! I thought Chip Kelly did the right thing the first time. I can’t imagine what he can say that will make me feel any different.
And now, this morning, the rumor became official with the announcement that Chip Kelly says there is “potential opportunity for senior running back LeGarrette Blount to be allowed to have his playing status be reinstated prior to the conclusion of the 2009 season.”
Hmmm . . .
If that wasn’t weird enough, a few minutes later I run across something even more outrageous! It’s a story about David Letterman (my TV hero and mentor) admitting to affairs with female staff members AND that someone tried to extort him for $2 million dollars. The scum! He’s been in a relationship with his now wife (Regina Lasko) for over 20 years and they have a cute 5 year old boy together. And now he acknowledges that he’s done some “terrible, terrible things.” The whole story is pretty bizarre. Letterman talked about it for ten minutes or so on his show last night and while he was very up front about things, it was weird to hear him talk so snarkily (if that’s a word) and, even weirder, to hear the audience clap and laugh along the way.
Hmmm . . .
Both of these situations reminded me of something I have long believed: We’ve all got stuff!
Everyone has things they’ve done in their lives that they are not very proud of. Maybe even humiliating and shameful things. Sometimes they come out into the light of day for the world to see but most often they are buried in the deepest recesses of our hearts.
A few weeks ago I wrote about some of the more embarrassing moments in my life, such as, sending emails to the wrong person, having an “accident” on the berry picking bus, letting the anchor of my Dad’s boat slip quietly off the rope and into the river. In the big scheme of things, those things are pretty mild. If I really wanted to come clean, I’m pretty sure I could come up with a few things that you’d find surprising. However, until the statute of limitations passes, I think I’ll just keep that stuff to myself. (Just kidding!)
It is easy for us to judge others. Even though we all live in glass houses, we’re more than willing to throw the first stone! It’s easy for us to call others weasels (or worse) because of things they’ve done that we find distasteful or even disgusting.
* Mark Sanborn, governor of South Carolina, telling everyone he was hiking the Appalachian Trail while he was really cheating on his wife with a woman from Argentina.
* Michael Vick running a dog fighting competition where the dogs literally fight to the death.
* Eliot Spitzer, former governor of New York, cheating on his wife with a high priced call girl.
* Pete Rose betting on baseball.
* Merrill Lynch and AIG executives taking HUGE bonuses while American taxpayers are bailing out their companies because of their incompetence.
* Former Oregon governor, Neil Goldschmidt, admitting he had sex (raped) a 14 year old girl. (What is it with governors anyway?)
* Legarrette Blount punching people
* David Letterman messing around with his staff.
And we all know friends, family members, co-workers who have done some pretty awful stuff. For example:
* Abusing a spouse or their kids
* Stealing money from where they work or from others
* Driving drunk
* Not being honest about the hours they worked on their time card
* Cheating on their taxes
* Getting some “freebie” because were able to work the system
where they work
What a bunch of weasels, right? Throw the book thrown at ‘em! Send ‘em to jail. Give ‘em the death penalty! Hanging’s too good for ‘em!
But, before heading down that path, take a close look at yourself. Deep down all of us would have to admit that some of these kinds of things are true of us as well. We’ve all got stuff.
I’m not at all saying that we shouldn’t hold people accountable for their mistakes. In fact, the world would be a better place if everyone was held accountable for their actions and not given an easy way out. BUT I do think we shouldn’t rush to judgment when an athlete, talk show host or just someone we work with does something wrong and gets caught. Chances are, we’ve done something equally crummy – but we just haven’t been caught yet.
We’ve all got stuff.
Philip Yancey tells a story in his book “What’s So Amazing About Grace” about Will Campbell, Yale Divinity school graduate who was involved in the civil rights movement. As Yancey relates, “Campbell's theology was undergoing some testing in those days. Much of the opposition to his civil rights work came from "good Christians." Campbell found allies more easily among agnostics, socialists, and a few devout Northerners.”
One of those was a newspaper editor, P.D. East who asked Campbell to define the Christian message in ten words or less. Campbell responded with, “We’re all bastards, but God loves us anyway.”
Later on, after a close friend in the civil rights movement was murdered, East put Campbell’s definition to the test.
First, he asked him whether his friend had been a “bastard.” Campbell replied that, even though he was a gentle and loving man, that everyone is a sinner and in that sense he was a bastard.
Then, East asked if his murderer was a bastard. That was easy to answer. “You bet” was the reply.
Then the reporter pulled his chair close and said, “Now which of these two bastards do you think God loves the most?” Here’s how Campbell describes his response:
The love at the center of the Good News is not just for the deserving, but for those who deserve the opposite.
It may be that we’ve all got stuff but even so: We’re all bastards, but God loves us anyway.
My phone “dings” and I look down to see a tweet that announces UO coach Chip Kelly might reinstate suspended running back LeGarrette Blount! Over the next few minutes I get a few more tweets saying the same thing.
And, when I go on Facebook, I see that one of my FB friends, Ryan (famed sports announcer who works with me at U.S. Bank) has posted about it and said, “I’m hoping it’s just a rumor . . .” Me too! I thought Chip Kelly did the right thing the first time. I can’t imagine what he can say that will make me feel any different.
And now, this morning, the rumor became official with the announcement that Chip Kelly says there is “potential opportunity for senior running back LeGarrette Blount to be allowed to have his playing status be reinstated prior to the conclusion of the 2009 season.”
Hmmm . . .
If that wasn’t weird enough, a few minutes later I run across something even more outrageous! It’s a story about David Letterman (my TV hero and mentor) admitting to affairs with female staff members AND that someone tried to extort him for $2 million dollars. The scum! He’s been in a relationship with his now wife (Regina Lasko) for over 20 years and they have a cute 5 year old boy together. And now he acknowledges that he’s done some “terrible, terrible things.” The whole story is pretty bizarre. Letterman talked about it for ten minutes or so on his show last night and while he was very up front about things, it was weird to hear him talk so snarkily (if that’s a word) and, even weirder, to hear the audience clap and laugh along the way.
Hmmm . . .
Both of these situations reminded me of something I have long believed: We’ve all got stuff!
Everyone has things they’ve done in their lives that they are not very proud of. Maybe even humiliating and shameful things. Sometimes they come out into the light of day for the world to see but most often they are buried in the deepest recesses of our hearts.
A few weeks ago I wrote about some of the more embarrassing moments in my life, such as, sending emails to the wrong person, having an “accident” on the berry picking bus, letting the anchor of my Dad’s boat slip quietly off the rope and into the river. In the big scheme of things, those things are pretty mild. If I really wanted to come clean, I’m pretty sure I could come up with a few things that you’d find surprising. However, until the statute of limitations passes, I think I’ll just keep that stuff to myself. (Just kidding!)
It is easy for us to judge others. Even though we all live in glass houses, we’re more than willing to throw the first stone! It’s easy for us to call others weasels (or worse) because of things they’ve done that we find distasteful or even disgusting.
* Mark Sanborn, governor of South Carolina, telling everyone he was hiking the Appalachian Trail while he was really cheating on his wife with a woman from Argentina.
* Michael Vick running a dog fighting competition where the dogs literally fight to the death.
* Eliot Spitzer, former governor of New York, cheating on his wife with a high priced call girl.
* Pete Rose betting on baseball.
* Merrill Lynch and AIG executives taking HUGE bonuses while American taxpayers are bailing out their companies because of their incompetence.
* Former Oregon governor, Neil Goldschmidt, admitting he had sex (raped) a 14 year old girl. (What is it with governors anyway?)
* Legarrette Blount punching people
* David Letterman messing around with his staff.
And we all know friends, family members, co-workers who have done some pretty awful stuff. For example:
* Abusing a spouse or their kids
* Stealing money from where they work or from others
* Driving drunk
* Not being honest about the hours they worked on their time card
* Cheating on their taxes
* Getting some “freebie” because were able to work the system
where they work
What a bunch of weasels, right? Throw the book thrown at ‘em! Send ‘em to jail. Give ‘em the death penalty! Hanging’s too good for ‘em!
But, before heading down that path, take a close look at yourself. Deep down all of us would have to admit that some of these kinds of things are true of us as well. We’ve all got stuff.
I’m not at all saying that we shouldn’t hold people accountable for their mistakes. In fact, the world would be a better place if everyone was held accountable for their actions and not given an easy way out. BUT I do think we shouldn’t rush to judgment when an athlete, talk show host or just someone we work with does something wrong and gets caught. Chances are, we’ve done something equally crummy – but we just haven’t been caught yet.
We’ve all got stuff.
Philip Yancey tells a story in his book “What’s So Amazing About Grace” about Will Campbell, Yale Divinity school graduate who was involved in the civil rights movement. As Yancey relates, “Campbell's theology was undergoing some testing in those days. Much of the opposition to his civil rights work came from "good Christians." Campbell found allies more easily among agnostics, socialists, and a few devout Northerners.”
One of those was a newspaper editor, P.D. East who asked Campbell to define the Christian message in ten words or less. Campbell responded with, “We’re all bastards, but God loves us anyway.”
Later on, after a close friend in the civil rights movement was murdered, East put Campbell’s definition to the test.
First, he asked him whether his friend had been a “bastard.” Campbell replied that, even though he was a gentle and loving man, that everyone is a sinner and in that sense he was a bastard.
Then, East asked if his murderer was a bastard. That was easy to answer. “You bet” was the reply.
Then the reporter pulled his chair close and said, “Now which of these two bastards do you think God loves the most?” Here’s how Campbell describes his response:
“Suddenly everything became clear. Everything. It was a revelation I began to whimper. But the crying was interspersed with laughter I was laughing at myself, at twenty years of a ministry which had become, without my realizing it, a ministry of liberal sophistication....
I agreed that the notion that a man could go to a store . . . fire a shotgun blast at one of the customers, tearing his lungs and heart and bowels from his body... and that God would set him free is almost more than I could stand. But unless that is precisely the case then there is no Gospel, there is no Good News. Unless that is the truth we have only bad news, we are back with law alone.”
The love at the center of the Good News is not just for the deserving, but for those who deserve the opposite.
It may be that we’ve all got stuff but even so: We’re all bastards, but God loves us anyway.
Thursday, October 1, 2009
Stock Market Update: Thursday, October 1, 2009
Ken Lewis, CEO of Bank of America announced he is stepping down before the end of the year, about a year and a half before he had intended to retire. As this article from Fortune speculates, "with the Merrill deal, Bank of America's Ken Lewis finally falls victim to the pressure of lawsuits and regulators." Those golden commodes will send you up the proverbial creek every time!
The market reacted by plunging over 200 points today! And U.S. Bank stock was down 75 cents as well. Percentage wise we fared better than most but the day was still one for the crapper, so to speak . . .
Stock Price
The market reacted by plunging over 200 points today! And U.S. Bank stock was down 75 cents as well. Percentage wise we fared better than most but the day was still one for the crapper, so to speak . . .
Stock Price
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