My Desultory Blog

Posted By RichC on August 24, 2015

The trading day is not over yet, but the moves on Wall Street and with individual stocks or indices have been unprecedented today. We are currently down 600 points on the Dow Jones Industrial average with an hour left in the day, but that almost seems mild compared to the onslaught of sell ordering in the early morning. At 9:30 when the opening bell rang, the DJIA plummeted 1089 points marking it all time largest move. It was a hair off the NYSE 7% halt trigger, but the impact to portfolios was huge. Those holding stocks of nearly any kind felt the pain.

Those of us brave enough to make a few trades were rewarded as markets rose off the floor and even went positive with a few stock before the selling in the afternoon resumed. Who knows what the end of the day or when the end of this sell off will end?

Those who remember October 1987 are seeing some similarities, but commonsense is all that is needed to realized that the stock market has risen but the economy is not equally as robust. The economy and financial health of banks, companies, housing and individuals is far better than before the 2008 recession, but no where near the pace to justify the market return since that time.

Category: Financial | 1 Comment »
Tags: djia, Financial, investing, markets, stocks

Posted By RichC on August 24, 2015

It is not one of the better quality photos, but my brother Ron (right) sent me a “guess who this is” photo from a trip he took this past weekend. At first I didn’t know who was in the photo with him, but after a close look at the background I deduced that it was a neighbor “boy” who we lived next to up on Lake Erie some 40-plus years ago. Yes, it was “Moose” … or our summer time neighbor Jim Raab. What great memories we had when Jim (and late brother Tom) and their family would move into their cottage next door to us for the summer. Ron and I could not have had a more idyllic childhood … and obviously the same must have been the case for Jim since the cottage is still in his family … and they still escape there to this day!

One final comment Ron left with me by text message … and I too remembered “cupping my hands” like it was yesterday.

Jim even took me inside their cottage. As I stepped in through the door I said I can’t forget how we’d come up to the screen door and ask if Tom and Jim could come out. He cupped his hands up by his face as if to put them up to screen to see in! We laughed!

Category: Memories, Personal, Photos | No Comments »
Tags: brother, family, howard farms, jim raab, lake erie, ohio, ronc, toledo

Posted By RichC on August 23, 2015

Buick Roadmaster Estate Wagon

Mourn the death of the beloved American family station wagon, complete with fake wood paneling. First, Chrysler eliminated its classic wood-paneled wagon in favor of a bland suburban minivan. Then, Buick killed its Roadmaster Estate Wagon in 1996.

Category: Automotive | No Comments »
Tags: buick, cars, Chevrolet, oldsmobile, roadmaster, station, wagon

Posted By RichC on August 22, 2015

Wanted to archive this short article from Quantum Sails on the Cruising World website … good info

Taking your friends and family out for a day cruise is just about the best way we can think of to enjoy the fall colors that are about to start painting the northern parts of the U.S. But dragging the leeward rail in the water, saltwater (or any water) spray mixed in with your hot cider, and snacks splayed out over the deck isn’t fun for anyone. Most people who sail in notoriously windy locals should have a reefable mainsail and headsail. The trick is to put to put the reef in before you need one. Your guests will have a much better time if they feel safe and stay dry, and your boat will be in a lot better shape at the end of the day if you plan ahead for the conditions.

To make sure everyone’s having fun, we put together a few best practices on when and how to reef:

Jib Reefing

An important feature of a roller furling headsails is having a foam or rope luff, that is, a tapered piece of material sewn into the luff that takes up the camber of sail when it rolls around the headstay, ensuring that the sail still has a clean flying shape when it’s rolled down. You can generally roll a headsail up to 30% before it loses its effective flying shape. When furling, you don’t want to fight the sheet, so before you furl, follow good procedure and be prepared: Get ready to ease the sheet, luff up into the wind to take the load off the sail, take up on the furling line to wind the desired amount of sail onto the headstay, and then tack up slack on the sheet and resume sailing. Good care and maintenance will protect your sail, make the job easier, and prevent loose sheets from flogging around and hitting someone in the face. Make sure to maintain control over the sail as you slowly lower it, especially with the high winds!

Mainsail Reefing

It is good tradecraft for a sailor to reef the mainsail before they have to—and a lot easier. When reefing, the most important thing is to protect the luff of the sail. Whether you have a bolt rope main or a slide main, something is likely to get broken if you don’t have the luff tension on first. Let the outhaul and the vang completely off, and then drop the main halyard down to the desired reef position. Get the tack of the reef fixed and then winch up the halyard to put good tension on the luff—this keeps the sail pulled forward. Once the luff is taught, you can take up the slack on the reef line on the clew, again making sure to put good tension on the foot of the sail. If you have a loose-footed sail—most cruisers do—roll the reefed portion into itself and secure with sail ties or a heavy-duty shock cord. Take care not to tie the sail around the boom—it wouldn’t be the first time someone goes to shake out a reef and forgets a sail tie through a grommet and around the boom, ripping the sail down the middle. If you have a fixed foot, using one long shock cord to secure the sail (standard procedure on many racing boats) will help to prevent unnecessary damage. Once the reef is set and the sail is properly secured you can resume sailing.

P.S.—Furling mainsails can be reefed too. Just follow the procedure for your sail and system.

When & What to Reef

If the boat is heeling over and main is washing out, the first thing to do is roll the jib down, but smart seamanship requires looking at the conditions ahead and setting up the boat early before you get overpowered. You’ll see the water start to whitecap consitantly between 11-16 knots. If you see whitecaps ahead, you should be thinking about a reef in the main. Look to where you want to go—if the boats already there are well heeled over, put in a reef. Depending on where you live, other telltale signs may include kite surfers ripping across the waves, a low fog blowing in, or racing boats crashing and burning—you don’t want that to be you! Don’t wait until the conditions are too much. Being conservative is not only good for the enjoyment of your guests; it’s also good for your boat.

Motorsailing Home

If the conditions do get to be too much and you’re ready to head home, you may want to furl the jib and motorsail home. Don’t go straight upwind; it’s not fast or good for the sail. Move the traveler to centerline, and sheet the main on fairly tight. Sail off the wind just enough to keep the sail just filled and have a slight heel. You’ll use half the amount of fuel and go the same speed making the engine more efficient. It’s okay to tack back and forth while motorsailing, and it will be a lot more pleasant than bashing straight upwind. You don’t have to shy away from windy fall days, just follow these tips and your cruise will be that much more enjoyable for everyone onboard!

Category: Archive, Sailing | No Comments »
Tags: cruising world, encore, quantum, reefing, sailing

Posted By RichC on August 21, 2015

Even though I’ve already posted on the recent plummet in the financial markets , the heavy volume and substantial daily moves like we’ve seen the past couple of days deserves a second post.

Dow Jones Industrials on Friday afternoon August 21, 2015

Friday (August 21, 2015) was another sour day for investors who are holding stock and is particularly painful for those (like me) flirting around with oil stocks and adding a few shares in hope of finding a bottom. Of course all of us calling for a bottom in oil have been wrong so far, so there is little reason to think Friday’s crude oil trading under $40/barrel is the end to the weakening world economy. We definitely live in an age where all trading partners are interconnected. Maybe in the long term we will look back on this as the best opportunity to rebalance a portfolio and in particular pick up leading companies “on sale?” The optimist in me would like to think that.

Apple joined the list of Dow companies leading the market lower.  Although $AAPL still sits on a pile of “offshore” cash, they are currently struggling to convince investors that they have products in the pipeline that will continue to keep consumers paying a premium for their products. I suspect the big worry is China and if the iPhone will continue to be desirable?

1. MMM 3M Co
2. AXP American Express Co
3. AAPL Apple Inc
4. BA Boeing Co
5. CAT Caterpillar Inc
6. CVX Chevron Corp
7. CSCO Cisco Systems Inc
8. KO Coca-Cola Co
9. DD E I du Pont de Nemours and Co
10. XOM Exxon Mobil Corp
11. GE General Electric Co
12. GS Goldman Sachs Group Inc
13. HD Home Depot Inc
14. INTC Intel Corp
15. IBM International Business Machines Corp
16. JPM JPMorgan Chase and Co
17. JNJ Johnson & Johnson
18. MCD McDonald’s Corp
19. MRK Merck & Co Inc
20. MSFT Microsoft Corp
21. NKE Nike Inc
22. PFE Pfizer Inc
23. PG Procter & Gamble Co
24. TRV Travelers Companies Inc
25. UTX United Technologies Corp
26. UNH UnitedHealth Group Inc
27. VZ Verizon Communications Inc
28. V Visa Inc
29. WMT Wal Mart Stores Inc
30. DIS Walt Disney Co

Category: Financial | No Comments »
Tags: aapl, commoditiies, djia, energy, investing, oil, stocks

Posted By RichC on August 21, 2015

We often hear the “firing on all cylinders” comment when talking about fiscal execution in managing companies … well the U.S. and World economy is not currently firing on many cylinders. Countries in Asia have been taking their lead from the 2008 model enacted by the US Fed which devalues currency in relation to other countries; the hope is that this will keep their industries running. Unfortunately there aren’t any countries interested in purchasing even cheaper products and the slowdown is starting to look contagious.

The bright hope for the U.S. has been that cheaper oil will put more dollars in consumers pocket … stimulating buying of other goods and services. Unfortunately job grow has been anemic and wages stagnate. Few people feel or have the extra dollars to spend in order to move the economy into a higher gear. Two percent growth has been about all we can muster … especially since the federal government counters every glimmer with more roadblocks, uncompetitive tax structures and anti-business regulations (navigating the labyrinth of regulations and reporting can be a full time job for entrepreneurs – enough to deter me starting another company).

The two most affected groups in my opinion are the 20-30 year olds trying to get a start. Finding a job that offers the promise of a career is tough … once found, there isn’t the security one “thought” they had years ago. That confidence is needed to start a family, buy a home and take risks. Often they start deeper in debt and are paying more to support the previous generations due to shortfalls in all the government promises made to their elders … Medicare and Social Security being the looming problem (not that paying the interest or any principle of our nation’s debt is a small potato.) The second group are those a few years from retirement with declining health, occupational skills and a shortfall in savings due to the recent recession. Their nestegg (if they had one) has often been tapped due to job loss, medical issues or an attempt to save their home. Working “productively” into their golden years may not even be an option?

When the economy is sour .. it is hard to be positive.

Category: Financial | No Comments »
Tags: economy, investing, markets

Posted By RichC on August 20, 2015

Those watching the Atlantic and Caribbean this time of year are keeping their eye on Tropical Storm Danny as it slowly spins towards the Leeward Islands. So far the hurricane season in the Atlantic has been gentle … but that’s not necessarily true for those in the Pacific.

I’ll be keeping my eye on tropical activity for the next couple month and hoping any big storms steer clear of the Florida coastline and our “in the water” Encore.

Category: Weather | 3 Comments »
Tags: danny, hurricanes, tropical storm, weather

Posted By RichC on August 20, 2015

It has been a long week already and my brother and I are already having conversations about dad’s house and contents. I know it is something we need to do, but it seems so final … and I guess it is? We did talk about this a little bit with dad, but it wasn’t the easiest topic of conversation.

The talking we did do had me thinking about the things dad treasured most … and there were not many, considering all the items stored at the house. I’ll start with mom (early days photo on the left) … they were a perfectly matched couple. Not that they were the same, but they complemented each other right from the beginning.

A close second were his boys … yes that would include me (above).

And finally, dad’s many cars over the years (not unlike me) … particularly his 1958 Packard Hawk that he inherited from his mother via his Uncle Ed. Oh, he did so enjoy the cars shows and talking about “all” classic cars … particularly anything pre-1960. We always had a good time together when on the subject of cars (he even approved of my Mercedes) and maybe I can at least try to carry on the “car-loving” ways?

Dad driving his 1958 Packard Hawk

Category: Archive, Automotive, Personal, Photos | 2 Comments »
Tags: cars, dadc, family, hawk, momc, packard, Photos, remembering

Posted By RichC on August 19, 2015

Well … one of the positive things that happen at funerals (and weddings) is that families get together. Taylor took a funeral day (plus weekend) from his job and Katelyn and Drew drove home from Wayzata (Minneapolis, MN) and brought along his “new toy” … quadcopter with a camera – what a great distraction.

We enjoyed the nice weather for both pool and flying this new gadget (it was surprisingly easy) … although as expected, we had a few mishaps on landing – nothing that couldn’t be fixed. All in all, this relatively inexpensive Chinese model offered impressive “bang for the buck,” especially since we were all new to flying by radio control. I’ve got the feeling that there may be a more advanced model in Drew’s future … maybe even one with a GoPro camera?

 
Drew turning on the camera before flying and a “semi-selfie” dinner together photo.

Category: Aviation, Personal, Photos, Recreation, Technology | No Comments »
Tags: controlled, drew, drone, family, quadcopter, radio

Posted By RichC on August 18, 2015

On Monday (August 17, 2015), we held the memorial service for my dad at St. John’s Lutheran Church in Sidney, Ohio. Dad died on August 12th after his “thankfully” short hospice care after suffering a stroke and brain bleed. The burial urn (above) was surrounded by flowers and a lifetime of memory photos (our families brought photos spanning his 86 years of life) … along with family and friends. Pastor John Schriber performed the service and he included a very personal memorial since he has known my dad and mom (and both Ron and me) for years. It was heartwarming to hear such kind and compassionate words about our father.

My brother Ron also said a few words and shared a little past and present history which really rounded out my dad’s life for those who knew him in different roles throughout his life. Having spent the last 4 decades in a small town like Sidney, people connect with him in many different circumstances; some from work, some from church and a lot from the many groups both he and mom were involved with. I was wonderful to see the many faces of friends.

My dad also has his “guy” friends … a bunch of WWII, Korea and Vietnam veterans that gathered for cards and jovial friendship every month. They have looked out for each other over the past few decades and bonded even closer during a honor trip to Washington DC (both Ron and I were privileged to be volunteers on that trip). Jim Hall offered kind words at my dad’s memorial from the perspective of a fellow war veteran. Over the years, this group formed a unique bond and “most likely without words” were able to help fill a void after the loss of a spouse, the challenge of declining health that come with age or just to offer the comradely of a buddy. Thank you Jim and those from this group (past and present)who checked in on my dad … just as he did in years past for others.

For those of us who by fate were spared from conscripted military service or by choice did not volunteer, my admiration and appreciation to those who DID served our country grows everyday. Thankfully my dad’s Korean War service did not go unappreciated or unrecognized while he was alive or in passing. The American Legion was at the cemetery with 13 men; 4 Color Guard, 7 Firing twenty-one rounds, 1 bugling Taps and 1 presenting me a flag. Very humbling.

“Fathers, do not exasperate your children; instead, bring them up in the training and instruction of the Lord.”
— Ephesians 6:4

My dad lived a wonderful life. He left this earth for eternity a very wealthy man when looking at the good friends and loving family he had. Every person I knew held him in high regard and treated him with respect  – my brother and I included. His opinion was always trusted and valued. I’ve always looked up to him and can’t think of anyone I would have rather have had as a mentor, a teacher, an example … or as a father.

“Train a child in the way he should go, and when he is old he will not turn from it.” Proverbs 22:6 

My dad with me … just a few years ago.

Category: Obituary, Personal, Photos | 2 Comments »
Tags: cemetery, dadc, family, funeral, honor, memorial, obit, respect