Good Bye 2008

I've always been able to maintain an attitude that "you can't do anything about what has already happened!" And that's the way I look at 2008. Adios! You're history! On to 2009 with all the possibilities for improvement in our economy.

More than just wishing all a good economy in 2009, I want to wish all a healthy and happy New Year! In the final analysis, it is not about material things. It's about relationships and how we treat our brothers and sisters.

Greetings, etc

May Peace on Earth somehow be obtained.... and may 2009 be a healthy and happy one for all of you. We are blessed and live in the greatest nation on earth!

Auto Rescue

Philosophically I am opposed to government "rescuing" any business. But these are unique times, to say the least. But I am seeing glimmers of economic recovery. The low interest rate environment is stimulating some home buying. And many households will refinance their mortgages. As a result of lower home payments and gasoline at half the price per gallon as a few months ago, there will be an estimated $500 billion available for saving/investments and spending.

BRRRR!

It is cold!! Again, dressing properly takes some of the sting out of the cold. I personally love wool clothing during this kind of weather. And warm footwear, despite how unattractive, is a must. And keep your head covered. I ran into a native of Door County a few days ago. She said she loved the cold weather .... with snow.

Auto Rescue

I understand the short run implications of a failing American auto industry. But in the long run, they have to be able to compete. Just throwing $14 billion dollars at them now only delays the inevitable if they can't compete. And one of the areas they are non-competitive now is pricing. So unless they can reduce their costs to enable lower sales prices for the vehicles, more money right now may be wasted.

Like the U.P.

Today's snow storm reminds me the Upper Peninsula of Michigan, where I spent some great years. Storms like this are a frequent occurrence there and do not get the media attention like here. And despite perception, it is not really much, if at all, colder than here. Being surrounded by open water like Lake Superior, Michigan and Huron, keeps it warmer. It's just the length of the winter that gets to people there.

Packers and First Snow

Well, another close loss by a Packer team. As I sat in my seat at Lambeau yesterday and saw the catch by Smith in the closing minutes that eventually led to the winning touchdown by Carolina, I once again marveled at the athleticism of those guys. They have God-given talents!

What a beautiful morning! I'm a believer that as long as it is cold, we might as well have snow. What else could anyone expect from a Yooper?

Make someone happy today!

Giving Thanx

Happy Thanxgiving to all!!

Giving Thanks

My pastor had an interesting challenge for me in his sermon this past Sunday. It has to do with Thanksgiving. Each morning as you awake think of 5 things you are thankful for. Then before you retire for the evening, think of 5 things you are thankful for.

Sometimes even the smallest of things are overlooked. Like just waking up!

Worst To Come

Terry Taylor and I attended an all day event at the Federal Reserve in Chicago last Friday. It was an all day event in which there was not a lot of good news! Some takeaways: "The worst is to come." "The earliest we can expect the economy to bottom out is 2nd half of 2009." The two indicators to watch for a sign that the bottom has been reached? 1. Stabilizing of home prices; and 2. Level or improving Consumer Confidence.

How about those Badgers and Packers this past weekend!

Be kind and laugh alot!

History Is Made

I am happy that the election season is over with. However, I do not recall so much banter following an election as we are hearing now. This is a great country! And it will continue to be great. Challenges, yes. But people have spoken and it is obvious, right or wrong, that we need to make some big changes in how government operates.

Two years from now we all get the chance to cast our ballot again. If we are unhappy with the way things are at that time, we'll change our government leaders again. So be patient - work hard - and be happy. Life is too short to look backward.

Good News - Bad News

I found it interesting on October 28 that the mainstream news media could find nothing positive about the 900 point surge in the Dow nor the lowest oil prices in almost 2 years.

Schemes in Turbulent Markets

During periods of financial stress like we are currently experiencing, one has to be on guard for all kinds of schemes to take advantage of the market turbulence. Be careful! If you don't understand what is being offered, walk away or hang up. People peddling these products are very persistent and don't like to take "No" for an answer. So be tough and don't buy in unless you're confident about what you are doing.

On Vacation

I'm on vacation until October 14.

Autumn

Despite the temp today it is autumn, my favorite season! I just returned from the Upper Peninsula of Michigan and northern Wisconsin. The colors should be peaking there within the next week or two. Seeing the hardwoods in its flaming reds and yellows is nature at her best. And while at my meeting in Marquette at Northern Michigan University (my alma mater), I once again saw the awesomeness of Lake Superior. She certainly has her own personality!

Electricity in Lambeau

I was at the Packer game last nite. The electricity in Lambeau surpasses Camp Randall consistently.

Did you vote today? I believe the right to vote and the right to a trial by a jury are two of our most important rights as Americans.

Rather than listen to all the rhetoric from candidates for public office, take a look at their voting record prior to running for whatever they're running for. That will tell you what the candidate truly represents.

Politics

I have a suggestion for all when trying to decide which candidate for any office is the best choice for you. Rather than listen to what they say when running for the office, take a look at their voting record prior to their candidacy. This will really tell you more about the person that what they say. Furthermore, you can't rely on what they say, anyway.

Olympics

The tv coverage of this year's summer olympics has been superb, in my opinion. The commitment of these young people is unbelievable. And the time the parents have spent in getting them to this point in their lives is something few of us appreciate. Many have been soccer and hockey moms and dads. I have an idea you could multiply that commitment 10 times and still wouldn't be close to the olympic experience.

Good Start & Home News

I attended the Packer preseason game last nite in Green Bay. The crowd was a little subdued, in my opinion. Despite Mitch Henck's objection about Aaron Rodgers new moniker, I thought A-Rod did a commendable job at quarterback. Brett who?

Most pronosticators see the end of 2009; early 2010 as the bottom of dropping home values.

Are you enjoying this beautiful summer?

Ooops

Wrong again! Jet Favre traded instead of Rogers. (See previous blog.)

30 year fixed rate mortgage loan now at 6.75%. With the steep yield curve, look for higher yields on certificates of deposit. But then again, look at my prediction on who would be traded at Green Bay!

Favre Saga Continues

Here's a gut feeling I have.... the Packers will trade Aaron Rodgers!

Cubs Go For Sweep

Three significant news items this a.m.

1. Cubs win third in a row from Brewers. My comment: Cubs are flat out kicking our butts right now.

2. Favre still in limbo. Packers presumedly offer him $20 million to stay retired. My comment: Brett, take the money and run!

3. McCain comparing Obama to Britany Spears and Paris Hilton. My comment: I wish someone would compare me to Britany and Paris!

Enough bad humor for this day.

I'm Back

Well, by popular demand, I'm back. My iBank manager tells me there are a fair number of hits on my blog regularly. So, while I doubted anyone actually reads this stuff, apparentely a few do.

Went to the Brewer/Cubs game last nite. A playoff atmosphere existed. I still am amazed at how the Cubs fans get so many tickets.

As to the stock market.... I still think there are a lot of bargains out there in the market. If you are still holding a stock whose price has dropped and you haven't sold, why wouldn't you buy it now at a discount? If you don't think the price is coming back, why wouldn't you sell what you have?

Adios

Oak Bank is always looking for ways to improve its delivery of financial services to its clientele. This blog is just a small piece of that effort. But it appears it is adding little value to your overall experience with us. Therefore, discussion is being held regarding whether to continue this. Stay tuned.

Am I Wasting My Time

I often wonder if the time, though brief, I spend on adding to this blog is worth it. Does anyone really read it? I know our security prevents readers from being able to respond on this blog, but you can e-mail me at rgorsuch@oakbankonline.com.

Keep the flood victims in your thoughts and prayers.

Stay Positive

Boy, it is tough to keep a positive attitude with all this weather being piled on top of gas prices and rising food costs. This morning a woman was interviewed by one of our local TV stations. Her home was flooded in the LaValle area. While having to cope with her problems, she was able to smile and comment that many people have it a lot worse. Don't we really have to remind ourselves of this!

Americans have a history of pulling through the toughest of times. When things get tough, we get tougher!

No Call

If you have not already done so, you may want to register on the Wisconsin No Call List. You can go to www.nocall.wisconsin.gov or call 866-966-2255 to register your phone numbers, including your cell numbers.

Keep all those folks currently under water in your thoughts.

Dane County Day Trips

In 1996, former county exec, Rick Phelps, wrote 5 articles for "The Capital Times" on Dane County day trips that are off the beaten path. I have copies of those articles. If you'd like a set, e-mail me at rgorsuch@oakbankonline.com.

A Great School System

I have 5 grandchildren who live in the Evansville, Wisconsin school district. Over the years my wife and I have had many opportunities to attend musical and drama events at the grade, middle and high schools. What an impressive program! A high percentage of their student body is involved in either the concert band, jazz band, choral groups or plays. And believe it or not; they still have a Christmas program!

If our entire education system had the leadership and parental involvement that Evansville experiences, we would have a lot fewer problems in this great country.

Indy 500

I spent the Memorial Day weekend in Indianapolis visiting my sister and her family. While there, we also took in the Indy 500. Now I am not a big race fan. But this was some spectacle. Over 250,000 at one event! The crowd was definitely supportive of Danica Patrick and Sarah Fisher's attempt to win it. Neither finished. The 33 cars that started the race use 100% ethanol.

It is good to see patriotism in action. Prior to the race, members of our armed services are motored around the track in slick Chevy pick ups. As they went around everyone stood and applauded. Very touching.

We Need To Remember

I have quite a few pictures, plaques and framed certificates hanging on my walls in my office. The one I am most proud of is my Honorable Discharge certificate from the U. S. Army. I served in Missouri, Korea and Texas from May 1959 to May 1962. And yet, I know I take for granted the freedoms I have because of the sacrifice of lives by many, many men and women who have served this great country. Let us all pause and reflect on the positives of living in this great land. There is too much negativity in the media.

Thank God for America!!

Morels & More

I've had my first taste of morels for this year! Two of our clients who know of my love of these tasty morsels brought me a mess. I love to pick morels but have a problem finding them. People who know where to find them protect the location like a trout fisherman protects his favorite trout hole!

I'm off to Hayward this afternoon. Our Zor Shrine has a big event there over the weekend. I have been thru Hayward, but have never spent any time getting to know the area. Perhaps this weekend.......

Our thoughts and prayers include the families who have lost loved ones in the med flight crash.

Housing Boom & Other

On May 6 an article in "The Wall Street Journal" claims the housing crisis is over. The article stated that April 2008 will mark the bottom of the U.S. housing market.

I just returned from 3 days in the Eagle River area. It is a very beautiful area. On Saturday morning we couldn't get off the first tee on time due to frost on the greens. But it warmed up and we had a beautiful day. We saw a pileated woodpecker which are pretty rare. A magnificent bird!

I kind of think we have seen the last drop in interest rates by the Fed. As gas and food prices trend upward, it is going to be interesting to watch inflation numbers. Any show of an increase in the CPI could well lead to increases in rates late this year (after the election) or early next.

Annual Shareholders' Meeting

Tonight is our 8th annual Shareholders' Meeting. It will be held at Promega in Fitchburg's research park. My comments to the shareholders' present will stress that the current economic news is reminiscent of previous challenges to the community banking industry. In the 70's we had the real estate problems; in the 80's the ag crisis and another commercial real estate downturn.

The banks who focus on sound credit principals during good times will survive the bad. The FDIC is predicting about 100 bank failures as a result of the home mortgage situation. Those 100 banks probably did not ever think the business cycle is a cycle. What goes up, must come down.

Been A While

Wow, almost a month since last posting. People who periodically look at my blog tell me I'm too brief and don't post often enough. Brevity is part of my nature, I guess.

Last night Carol and I were honored by the Juvenile Diabetes Research Foundation. There are a lot of more deserving supporters of that great organization, but we are proud nevertheless. I was surprised by having my sister, Sandi, from Indianapolis, and her daughter, Susan, from the Washington, D.C. area, show up for the occasion. It was a marvelous evening during which over $350,000 was raised for diabetes research. I just have a feeling we are not far from a cure for this "silent" disease. In fact, Dr. Hans Sollinger, noted transplant specialist at UW, told Carol and me last night that he also feels we are not far from a cure. Let's pray.

Yesterday was also the funeral for Jodi Lou Barlow Rickert, a former personal banker here. It was a sad day. Our Jim McNulty did a wonderful talk on his reflections about Jodi. Jodi was only 36 years old and leaves a infant daughter, Sophie, husband Ray and parents. Knowing we will all be together again gives us hope, doesn't it?

Well, a little longer than usual. Life is good!

Taking A Break

I don't know about you but I am ready for some warm weather! One of the fun things to do this time of year is drive or bike on the back roads of Dane County. If you have an interest in copies of six articles written by former Dane Co Exec Rick Phelps on neat drives in Dane County, e-mail me at rgorsuch@oakbankonline.com.

Another Opener

I've been going to Brewer openers for 33 years. I recall that two of those 33 were "nice" days for baseball. Today would have been another. But with the roof, weather is not near the factor it used to be.

Economic news continues to dominate the airwaves. We are fortunate to live in a community that is somewhat economic downturn resistant. If one listens or reads about all the economic woes that presumedly exist, it is difficult to not find yourself putting off purchasing decisions, isn't it?

Badgers

With new milestones being reached in snowfall and deaths in Iraq, we should be thankful for the Badger men's basketball success! It certainly helps us keep a positive attitude, doesn't it?

Interest Rates Keep Falling

One has to ask if more interest rates are coming. Probably yes, but my guess is not many. With inflation running higher than the Fed wants it to be, two of the Board of Governors voted against the recent 75 basis point drop. I'm not sure lower rates is the answer. While we are not one, many banks are unwilling to take on credit risk due to a lack of confidence in the economy. No amount of rate cutting will change that.

My Take On Spitzer

All I can say about about the Spitzer ordeal is people who live in glass houses should not throw stones.

Bill Wineke's column in this morning's edition of "The Wisconsin State Journal" left me a little confused.

On another matter, I hear that another bank is considering entering the Madison area market. I fail to understand why outside banks want to enter a market where the margins are already so thin. Maybe it is because the new banks have done so well during the past decade.

A Beautiful State

With all the negative vibes we continually get through the media outlets, one tends to forget the beauty of the creation that surrounds us! As I drove to and from Eau Claire this past weekend I could not help but be taken in by the beauty of our state. One of the joys of road biking is watching the countryside change from winter to spring to summer to autumn.

A Tear Is Shed

Like many watching yesterday's Brett Favre press conference I shed a tear. He just gets it, doesn't he? Be it the game of football or the game of life, he gets it.

Another Farewell

The media is fixed on Brett's retirement. And why shouldn't they? I have witnessed the retirement of Al Kaline of the Tigers; Robin Yount of the Brewers; Ted Williams of the Red Sox; Mickey Mantle of the Yankees; Bart Starr of the Packers, among others. But none of these were felt with the emotion that I am experiencing now. Over the last 16 years there have been lots of ups and downs in Wisconsin and the U.S.A. But the one constant has been # 4. God bless him and his family.

Mortgage Woes

I am often asked if Oak Bank is being impacted by the sub-prime mess. A short answer: No. We service over a thousand mortgages and not a one is past due.

Special Places

I have a series of articles written by former Dane County Exec Rick Phelps in which he details day trips within Dane County that are off the beaten path. If anyone wants a set of those, e-mail me at rgorsuch@oakbankonline.com.

Think Positive

This weather can turn the most optimistic personality toward negativity. But hang in there. The sun will come out; the snow will melt away; and we will be enjoying warm weather. It will happen!

Brrrr

Looks like we set a new seasonal snowfall record tonight. This is the kind of winter I grew up with in the U.P. of Michigan. Even they, though, got tired of shoveling and snow blowing by the first of March.

Super Tuesday After Super Bowl

I looked forward to last Sunday's Super Bowl football game a lot more than I look forward to today's Super Tuesday. When the final whistle blew on Sunday, I knew the outcome of the game. After today, I will still be doubtful about any of the candidates being able to deliver on all their promises.

What A Game

The Wisconsin/Indiana men's basketball game last nite was a prime example of the quality coaching these young men are getting from Bo Ryan. I continue to be impressed with how he gets so much out of his men. They are the true epitomy of "teamwork!"

Now, Giants beat the Patriots!!

Out of Mourning

Well, it has been a week and one day since that cold day in Lambeau. I am pretty much out of mourning and mildly interested in the outcome of this Sunday's Super Bowl. Never in my sports spectating life have I witnessed the change in emotion that I witnessed in Lambeau that day. If you have not seen the Rep play, "Musky Love" you need to go. In it the love for our Packers is acted out in a fun and humorous way.

It won't be long and the Brewers will be in action!!

Stocks May Be On Sale

It's interesting that when department stores have sales, people flock to the store to find bargains. I happen to feel stocks may be on sale right now. In looking at recessions in the U. S. going back to 1953, the average recession lasts about 10 months. During these recessions (nine of them) the S&P 500 dropped an average of 25.6% from its peak prior to each downturn to its trough during the recession. It is down 9.8% already in January. According to the January 21, 2008 edition of "Barron's", a feeling that a full-fledged recession is now priced into the bond market and is increasingly priced into stocks is being expressed by investment strategists.

So it might be a good time to go shopping!

Economic Concerns

One of the problems with living in Dane County is that we are quite insulated from the real economic world. Our steady and growing employment base is one of the best in the nation. And while one gets unduly pessimistic if you get all your news from the electronic media, I do feel there are some concerns about 2008. Rising energy and healthcare costs could result in reduced customer spending. However, one thing I think we often forget is how powerful the international economies are to us. Bottom line: there may be lots of opportunities in the equity market right now.