Happy 2014

Today ends a successful year for Oak Bank.  But as of tomorrow, it is history and we start all over.  There is still a lot of uncertainty in our economy.  But we are optimistic that our team will do what it takes to make 2014 special.  Happy New Year to all!!

Do You Believe?

I really had mixed feelings as the clock wound down yesterday.  The Packers were driving and on four different occasions they were down to a critical fourth down play.  I had pretty much prepared myself for a Bear win.  But somehow I felt Rodgers might find a way to pull it out.  After all, the most frequent criticism I hear about him is his inability to win the close ones.  But he combined with Cobb for what will be a win to remember!  Bring on the 49ers!

Winter & Economy

I am not sure if its the time of the year or the impending snow storm (I like snow storms!) or what, but I am mildly optimistic that 2014 is shaping up to be a good year for our economy.  While there seems to exist a lot of uncertainty about taxes and healthcare, the recent budget compromise along with some of the economic indicators have produced some confidence in the Market.  Yet, some central bankers (like the Federal Reserve) are concerned about the low inflation rate and whether deflation should be a concern.  But overall, I am optimistic about 2014.

Can You Believe It?

Give the Packers credit.  They have character!  Yesterday's comeback victory is a perfect example of why we remain fans!  The game is never over till it's over.

Winter

Being from the Upper Peninsula of Michigan, I really don't have a problem with snow.  But I really don't care for bitter cold.  You might say, but isn't it colder in the U.P.?  No, not normally.  Being surrounded by the Great Lakes which are 32 degrees or warmer while still open, the U.P. is normally milder and does not experience the chill factors we do here in south-central Wisconsin.  But that open water certainly encourages the snow effect snow fall.  I never owned a snow blower while living up there.

Feliz dia del pavo

Feliz dia del pavo.  Be thankful for all your blessings!

Kissing Your Sister

It was a cold November day in Lambeau yesterday.  And a tie left the fans kind of unfulfilled.  The defense once again let us down.  And now its going to be interesting to see who starts at quarterback this Thursday against the Lions.  If Rodgers is unable to play, I fully expect it will be Matt Flynn.  And what about Eddie Lacy?  Once Rodgers is back, it is going to be interesting to watch the combination of him and Lacy. 

Badgers/Packers

While the Badgers are still in contention for a BCS Bowl, the Packers will not make the NFL playoffs.  I am normally not one to jump off the bandwagon, but with all the injuries, and especially the Aaron Rodgers injury, make me a little pessimistic. 

Packers Season Over?

I can't be very optimistic right now about the Packer season.  It is not just Aaron's absence, but all the other injuries that is hurting them right now.  I felt Scott Tolzien did a very creditable job on Sunday having only been involved for a week.  But one should not underestimate Mike McCarthy's ability to work miracles!

Give to Your Community

When was the last time you did something for your community?  Or for a non-profit?  Or your church, synagoque, or temple?  At the end of the day, it is all about how we influenced our fragile earth to leave it better for our children and grandchildren. 

We Have A Deal

According to the news just released, we have a deal in Washington to avoid the default issue.  The devil will be in the details, I expect.  And I doubt if it is a long-term solution.

Been A While

Wow, have I been out of circulation or what?  What a hectic couple of months August and September were.  The highlight was the completion of a 102.4 mile bike ride in Nashville, Tn.  A very challenging ride but Nashville is a great and fun city!

Possible government shutdown is an example of lack of leadership from the top.  They ought to lock eht various players in a room and not let them out till they can find a compromise.

Community Banking

It appears regulators are finally getting the message that community banks play a very important role in the health of local economies.  I think they also realize the Great Recession was not caused by community banks. 

Braun

The mistake Ryan Braun made was not fessing up to everything when the initial investigation too place a year ago.  I just hope people can forgive and forget.  Everyone makes mistakes.  As long as he owns up to his mistakes, I will still support him. 

Interest Rates

It is true that interest rates have jumped about 1% over the past couple of months.  But I don't think the Fed is going to risk rates moving up too rapidly due to the impact that would have on a recovering economy. 

New Banking Rules

As part of the 2010 Dodd-Frank Act, several major changes to the mortgage industry will take effect on Jan 1, 2014.  Efforts by the Consumer Financial Protection Bureau, the federal agency with rule-making authority under Dodd-Frank, to reform the mortgage lending industry from the gound up has resulted in an avalanche of new regulations, totaling nearly 4,000 pages.

While the goal of the nearly dozen new regulations is to prevent another housing crisis like the one that led to the worst recession in the U.S. since the Great Depression, the sheer volume of regulations may hurt consumers more than help them.  The pendulum has swung too far the other way.  Under some of these provisions, none of us would qualify for a mortgage loan.

What it all means for the consumer?  Fewer, more difficult to obtain loans, which are more costly and statistically less risky but also less helpful for consumers.  The intent of the rules is to help consumers, but the very people they're trying to protect will be hurt.

Diabetes Breakthrough

Some great news was recently released indicating a device to regulate insulin needs for diabetics while sleeping is now being used in Europe and being evaluated by the FDA here.  Diabetics are especially vulnerable to dangerous variations in their blood sugar levels during sleep leading to coma and even death.  My oldest grandchild was diagnosed with Type 1 diabetes at age 8.  He is now 23, but the disease is ever present.  It is because of this I do a 100 mile bicycle ride each year for him with my fund raising benefitting Juvenile Diabetes Research Foundation.

Interest Rates Again

As I think I have somewhat predicted, interest rates are on the move.  Good news for those on fixed incomes!  Even though they are higher for the borrower, they are still very good rates when one looks from the historical perspective.

Good Read

If you are interested in knowing more about what goes on in Washington when significant matters arise that involve Congress and the White House, read Bob Woodward's novel "The Price of Politics."  It is definitely the most insightful book on politics I have ever read.

Summer and Interest Rates

Is summer finally here?  What a beautiful day today!  Makes one forget the weather we've had so far this spring.  Remember, summer is officially still almost 2 weeks away.

Interest rates have started to move higher.  They are still at historic lows.  If a person is thinking about refinancing now is the time.  If your home loan has a remaining balance greater than $200,000, a half point reduction in your rate makes sense.  Under $200,000 a full point reduction makes sense.

Weather

This has been an interesting spring weather-wise.  Each day has been a different weather day.  But we kind of got spoiled last year.  So if you put last spring together with this spring and divide by 2, you get an average spring.  No?

Road Trips

Each year I offer off the beaten path Dane County day road trip maps.  They were published in 1996 and were written by then County Exec Rick Phelps.  There are six of them.  If you would like a set of them, call 608-250-5500 and leave either your e-mail address or your snail mail address on my voice mail.

Annual Shareholders' Meeting

Oak Bank held its annual shareholders' meeting last night at Promega's Biopharmaceutical Center.  Directors were elected and a minor by-law change was made.  After the meeting refreshments and food was provided.  I think the turnout was affected somewhat by the beautiful weather, but all in all, a very good meeting and excellent news from management about the Bank.

Change

There is nothing so so constant in our universe as change.  Yet, mankind seems to fear and fight change at every turn.  This is something that Henry Ford, founder of Ford Motor Co., knew all too well:

"Businessmen go down with their businesses because they like the old way so well they cannot bring themselves to change.  One sees them all about - men who do not know that yesterday is past and who woke up this morning with their last year's ideas."

Interest Rate Trends

It has been a while since I have weighed in on where I think interest rates are headed.  Much to the chagrin of those in fixed investments, I do not see rates changing for at least two years. 

Boston

I am somewhat surprised it took over 11 years for another terrorist attack on the U. S.  We are such an open and expansive country with so many heavy concentrations of people all over the place.  But if we become terrorized, they win.  We will win!!

Boston

The question of the day on radio station WIBA - AM this morning was whether I felt the tragedy in Boston yesterday was precipitated by international or domestic terrorist?  My response was domestic.  For some reason this seems an act of a domestic radical group.  Time will tell.

Election Day

Madison continues to amaze me with its political thinking.  Why do you reject the candidate for judge that was recommended by both sides of the aisle just because she was appointed by Governor Walker?  How selfish and shortsided can a person be?  We have way too many people in this town who have never created a job in their lifetime.  People who have lived off taxpayer money all their life, either at the university or in some form of government employment.  Oh well, it's still a great town.

Vote

Surprises from yesterday's election.  Longtime Madison alderman Tim Breur getting beat was the big shocker for me.  I was disappointed in the Fitchburg election results in two cases;  Dorothy Krause from District 1 is an example of why we have such bad leadership in our city.  And Steve Arnold getting reelected from District 4 was a disappointment.  His spending wishes only leads to higher taxes.  Just amazes me that so many people have no idea of what it takes to run a business and the risks you take.  It's like they think we have an endless pit filled with money.  They just don't get it as to how we have to fill that pit.

Economy

While I am not excited about the economic growth outlook, I do feel we have bottomed out.  I am also seeing signs that the housing market is beginning a turn around. 

Spring

Quite a winter!  But being from the U.P. I am used to longer winters.

UW men's basketball team had quite a run this year.  Most people I know who follow them would say they would not have expected them to have the season they have had.  Basketball is such a momentum game.  And they just could not get the momentum yesterday.

Coach of the Year

I know my posts to this blog often are sports oriented.  But that's Madison.  It is a very sports oriented town. 

Bo Ryan being named Coach of the Year in the Big 10 is well deserved.  I know of noone who thought they'd have the season they have had.  Granted, it is the guys who are out on the floor who execute  plays and fight as hard as they do.  But Bo's ability to get the maximum effort from his guys game after game is a true testament to his coaching and to his assistant coaches'. 

Daylight Savings

I was listening to WIBA this morning and the discussion very early was about the pros and cons of daylight savings time.  I like having more daylight later in the day.  So I guess that makes me in favor of it.  I find people tend to be in much better moods when the sun shines, too.  And for those who love to bike, it leaves more time to hit the roads and trails after work. 

Tired Yet

Are you tired of the snow yet?  Having grown up in the Upper Peninsula of Michigan, I find this winter reminescent of those I got used to.  The difference is that while we are approaching 60 inches of snow here, which I believe is above average, Marquette, Michigan has had over 130 inches, a normal year.

Get out and enjoy it.  Temperatures are great for it. 

Vote

There will likely be a low turnout today at the polls.  Despite the cold weather and slippery roads, we all should get out and vote.  I still believe our two most important rights are the right to a trial by a jury and the right to vote!

Special Time

Happy Valentines Day!  I am having a hard time believing what I heard yesterday... there is a school in Madison where kids are not allowed to bring Valentine Day cards for their classmates!! 

Super Bowl Ads

Frankly, I found most of the Super Bowl tv ads to be a waste of money.  The two or three I did think were really good was the Budweiser clydesdale spot;  the Oprah/Jeep spot on our military;  and the spsot where the nursing home residents snuck out to party, though I do not remember the product/service being sold.

Wait Until Tomorrow

57 degrees today and 3 - 6 inches of snow tomorrow!  That's Wisconsin!  But January is almost over and we can start looking forward to spring thaws beginning in February.  And bicycling enthusiatists are beginning to get their bikes ready to hit the roads and trails!

Community Banks Are Special

As of 2011, community banks made up 92 percent of insured banks and 95 percent of U.S. banking organizations.  They hold the majority of deposits in rural and micropolitan counties.  History has shown that well-managed and innovative community banks are well-positioned to handle the challenges of the future and to take advantage of new opportunities.  All of this confirms:  Community Banks are special!

Oh Brother!

On February 3 we will witness something we likely have never nor will we ever see again.......  brothers being the head coach of each of the two teams in the NFL Super Bowl!  John & Jim Harbaugh.  Former head UW football coach Dave McClain and his wife Judi used to babysit these two.

Gun Control

I have mixed feelings about all the rhetoric regarding guns.  I came from a family that did a lot of hunting.  Guns were a part of our life.  Yet, I don't feel assault type weapons are needed for hunting and other sporting activities.  But I am concerned about new government involvement in regulating what we can own.  My concern is the continued increase in government involvement in our lives.  And regulating guns, in my opinion, would not have prevented the Sandy Hook tragedy.  I believe the guns his mother had were legal and would be legal even under the proposed gun control ideas. 

Community Banking

This may be too repetitive but the banking problems of the past four to five years were not created by community banks.  But many community banks throughout the country were impacted by the problems created by investment and mortgage bankers.  We are now seeing significant improvement in the financial stability and earnings at community banks. 

Happy 2013

Happy New Year to all!  The new year always ushers in hope and optimism.  Let's hope we can come to grips with this country's debt situation.

As the Badgers prepare to defeat Stanford today in the Rose Bowl, here's a little Packer trivia.  The Packers won three consecutive NFL championships from 1929 to 1931, and nearly had a fourth in a row in 1932.  They finished 10-3-1 that year, and second to the 7-1-6 Bears only because ties did not count in the standings at the time.

Stay healthy!