Economy

Don't panic!  In fact, if you have some excess cash, it might be a good time to invest in the market.  You would be buying good companies cheaper than several weeks ago!

Interest Rates

If you believe what you read, it appears the Fed is hell bent on increase rates a bit by year end.  For those on fixed incomes and depending on income from fixed income type securities, this would be good news.  For borrowers, should not make a great difference.

Memorial Day

The Memorial Day weekend kicks off summer.  People travel.  And then there is Brat Fest.  But let us not forget the real meaning of the Day.... to remember and honor those who have served our country to protect the freedoms we enjoy!

Interest Rates

Bloomberg reports that Fed Chair Yellen warned investors in a recent speech that long term interest rates are at very low levels and that once the Fed begins to raise Fed funds, longer term rates "can move very rapidly" and investors could see "a sharp jump in long-term rates."

Florida

I recently spent a week in Vero Beach, Florida.  It is on the east coast of Florida.  The traffic there seems much less congested than on the west coast.  One feeling I came away with after a week there...... I am not ready to retire!

Packers

Some of you know that I am the holder of Green Bay Packer season tickets.  The schedule just came out.  And it was announced that Brett Favre's #4 will be retired at the Thanksgiving Day night game with the Bears.  I can't understand why I am getting so many requests to attend that game with me!  LOL. 

Bankers Without A Pen

Last night was the annual Juvenile Diabetes Research Foundation's spring gala.  Always a fantastic time and cause.  Last night alone over $450,000 was raised for Type 1 Diabetes research!!  One of the more humorous times was when a pen was needed for filling out a form and out of 6 bankers at the table, no one had a pen!!

What A Day

I have a tough schedule today.  Brewer opener followed by UW win over Duke!  Make 'em believe!

Granddaugher's Blog

I have a granddaughter, Lydia Eager, who is spending a semester in Alicante, Spain.  She has a blog and has convinced me she's got her head screwed on right.  Her blogs are incredible.  But as we approach Easter weekend, a couple things she has blogged are very pertinent.  " If you are reading this, please breathe in, breathe out, and thank God for this beautiful world we have and life we are living."  Another quote:  "  While the week leading up to Easter is not nearly as important (in Spain) as in other places, I hope anyone reading this does their best (even if not Christian) to spend this week feeling nothing but gratitude."

Happy Easter ..... and go Badgers!

Frank the Tank

If you haven't picked up a copy of the recent Sports Illustrated with Frank Kaminsky on the cover, you should.  Good, interesting article.  Go Badgers!

Sun is Shining

It is fantastic to see the change in peoples' moods as a result of the sun and warmer air! 

Spring

50 degree temperatures next week!  Boo yah!

Hoqw About Those Badgers

It is so refreshing to be a fan of the UW men's basketball team!  When we hear so much about individuals in sports who set a poor example for our youth, with the UW guys we have a group who we'd all like our kids to emulate.  Congratulations to some great people for their Big 10 championship. 

Right To Work

Can someone tell me why opposition claims Right to Work is bad for workers?  If it is so important, wouldn't those currently in unions want to remain.  So what's the issue?  Or is it big government telling us they know what's right for us again?  Right to work does not take away the right to join a union does it?  What am I missing?

Mayor of Fitchburg

Our current Mayor, Shaun Pfaff came in second in yesterday's primary.  I can only say it is my opinion that Shaun has done an excellent job as Mayor. 

Vote

A number of communities, including Fitchburg, have primaries next Tuesday, February 17.  Turnout is usually very low.  But these elections are important.  Exercise one of your most important freedoms and vote next Tuesday!

Vaccines

This year's flu season was expected to be bad and it is mostly living up to that expectation.  Even those who have been vaccinated are at risk, because of mutations in the virus that came about after the vaccine was designed.  Even so, health officials say it still pays to get vaccinated, as its the best way to reduce the chances you'll get the flu and spread what can be a deadly disease. 

Interest Rates

After the Fed Open Market Committee yesterday, their announcement implies no change in interest rates for next few months.  But longer term uncertain. 

Ouch!

I'm still suffering from "the" game last Sunday.  Can't imagine how those guys feel.

Dangerous Jobs

I came across some interesting information recently regarding risky occupations.  You would think that the most dangerous is being a police officer or a fireman.  But according to fatality statistics being a fisherman is by far the most dangerous.... 200 deaths per 100K.  Fireman have 4.4 deaths per 100K and police around 13.  Other professions with more on-the-job fatalities than cops and firemaen are airline pilots with 57 fatalities, loggers, roofers, sanitation workers and farmers. 

Go Pack Go

I was at the Packer/Cowboy game yesterday with 4 grandchildren, 3 daughters and 2 son-in-laws.  What a special place Lambeau Field is!  The trip home was also fun;  much more so than it would have been with a loss.  Recommend it for everyone's bucket list!

Interest Rates

Each year I get guesstimates from all of our officers on what they feel the prime rate will be by year end.  For 2014 several of our officers guessed 3.25%, which is where the prime rate ended up.  One of our more accurate guessers is saying the 2015 ending prime will be up to 4.00%.  Only a couple officers are predicting rates not to increase. 

Good Year

2014 has been an excellent year for Oak Bank.  We are blessed with great associates, clients, directors and shareholders.  I just want to wish you a prosperous and healthy 2015! 

Last Minute Shopping

Some of you may be heading out of the office early today to do a little last minute holiday shopping for friends and family.  How you go about that shopping is probably quite different from even five years ago when people primarily shopped in person and usually went to the shopping mall if they were looking for a variety of items.  Some 1,500 malls were built between 1956 and 2005, but barely 1,000 malls remain today (not one new mall has been built since 2006).

Lump of Coal for Christmas

I came across an interesting story on the connection of coal with Christmas.  As we know, our Western culture legend has it that naughty children wake up Christmas morning to find their stockings filled with lumps of coal instead of the desired toys and delicacies.  The negative association between coal and Christmas dates back thousands of years.  In folklore, people's homes are entered via the fireplace, bearing gifts for well-deserving boys and girls and coal for the badly behaved. 

Cool Place in Chicago

In case you visit the Windy City, you may want to visit the Money Museum at the Federal Reserve Bank of Chicago on LaSalle Street.  And its free!  Lots of history on money.

Happy Thanksgiving

Tomorrow is America's official Thanksgiving holiday.  While it is a day to enjoy good food, spend time with friends and family, and maybe watch some football, it is much more.  Thanksgiving Day is a reminder to reflect and be thankful. 

Other countries also have dates set aside for similar purposes and, while the fourth Thursday in November is just the American date for this, it is a perfect time to express our thanks for each and every one of you - wherever you live.

Great State of Affairs

When was the last time you saw UW Men's basketball ranked third in the nation;  the Packers leading their division; the Bucks 7 and 5; and UW football moving toward a Big 10 championship?  And all at the same time?  Great time to be a Wisconsin sports nut!

Brand Recognition

Research finds the three main drivers of consumer brand equity are awareness (recognition), associated qualities (BMW = quality German engineering), and loyalty (I love my Apple).  Recognition alone isn't enough.  After all, the largest banks have recognizable brands, but what they signify is a different question.  Consistently high quality client experiences.  All the image ads in the world will not overcome a lousy experience when a potential client engages with the staff.  For that reason, a bank's image is almost entirely dependent upon its employees.  We think our staff is client-centric and that they create a lasting emotional impression of competence and concern.

Better by the Growler

Here's a continuation of my prior blog post.

Most businesses would love to see the same kind of percentage business increase that small brewers achieved over the last year.  Craft brewers rely upon there being demand for a unique, high quality product that is local in its business focus as well as in its image.  The same should follow for small businesses, but the brand recognition of the large businesses often overwhelms a smaller organization's attributes.

More later.

Craft Beer and Banks

The other day a German fellow at a beer festival in Bavaria set a record for transporting beer mugs, carrying 27 one-liter beer glasses for 40 meters.  The beer alone would weigh almost 60 pounds! But the point of this blog is that craft breweries are successful.  The sale of craft beers increased by more than 17% last year vs big market brands at 2%.  Do you suppose big market brands will attempt to make a higher quality product to capitalize on the trend that Americans are drinking less but buying higher quality?  More later........

How High Will They Go?

All indications from the Fed still point to policy tightening and a rising rate environment sometime around mid-2015.  How high rates will go remains a question though.  It could be we are approaching yet another time of change and recent market volatility is simply an expression of concern.  

Vote Vote Vote

A week from today some significant decisions, by you the voter, will be made.  Be sure to either vote early or be at your polling place on November 4!

Early Voting

I usually am one of the first voters at my voting site each election.  But this year I did something new....  I voted early yesterday.  The only downfall is that if you make an error on your ballot, it will be a wasted vote.  Whereas, voting on election day your ballot would normally be rejected if an error is made.

Cybersecurity

I cannot say it too strongly:  you need to protect yourself from cyber attacks!  The easiest way to do this is to do away with weak passwords that are easy to guess or can be easily obtained in cyberspace by would-be criminals.

Good Year for the Bank

I don't often write specifically about Oak Bank but thought a couple comments about our year is timely.  There was some plans of moving to a new location in Fitchburg.  Those plans are on hold right now.  Financially, we are pleased with our results through the first nine months of 2014.  Loan demand is still a little weak, but improving. 

Economy

While there does appear to be any intent of the Federal Reserve to raise interest rates, geo-political situations could effect interest rate levels.  And the one that seems most serious right now is the Russia - Ukraine problem. 

How Blessed We Are

When you consider all the turmoil and killing in the world, you realize how blessed we are to live in this country!  When you hear about Ebola, you realize how fortunate you are to live in this country!  When  you hear about the children starving in various parts of the world, you should realize how fortunate we are.  Let us never take for granted our blessings!

Mystert

How tragic the two murders in Fitchburg.  How can we know the pain the families are going through and the long-term pain the six children will have to live with.  While I believe everything happens for a reason, just can't figure out why this has to happen. 

Vote

Hopefully you all voted yesterday.  Despite what many felt was not an important election, the consequences of many of the races may prove very important.  I was the third person to vote in my ward.  As I was standing in line I had conversation with voters from both parties.   I sensed a feeling that we are tired of the polarization that seems to exist in politics today.  Whatever happened to the ability to reach a consensus through compromise?

Favre's Number

I am pleased to hear the Packers are planning to retire Brett Favre's number "5" next year.  Really wish it could have been this year but another year may get rid of a few boo birds.

Trivia

The most obsolete job in America is the milkman - what is the second most obsolete?  The elevator operator! 

Baby Boomers

Pew Research reports Baby Boomers started turning 65 years old in 2011 and every day for the next 16 years about 10,000 more will reach that threshold.  That means in 16 years about 20% of the population will be 65 years old or older! 

More on Credit Cards

A study on habits of the Millennial generation (ages 19-29) also indicated that family members were cited as a significant influence, with 49% reporting that their parents shaped their views on money matters.  54% reported going to their banks for financial advice.  This is interesting given about 90% of them bank online or on their smartphone.

More on Credit Card Debt

TD Bank did a study focusing on the habits of the Millennial generation (ages 19 - 29 yrs) and found some interesting results.  This group has entered the workforce in the worst of economic times and as such seems to have tendencies towards financial conservatism quite similar to people who grew up in the Great Depression.  Job prospects have been difficult for this group at best and financial markets were roiled within their formative years.  Many also carry high levels of student debt.  More later.......

Credit Card Debt

The average credit card debt is $28,000.  The average number of cards per person is 2.2the average utilization is about 30%.   The age group carrying the highest average balance per card and the highest number of cards is the baby boomers (ages of 47-to 65 yrs.), many of whom are both sending kids to college and caring for elderly parents.  More later......

Smart Phones

Predictably, there are more urban mobile banking users (64% in cities versus 60% in suburbs and 43% of rural dwellers.  58% of Americans have a smartphone and the highest use is by those under age 39.  Further, almost 50% of people between ages 50 and 64 are smartphone users.

Technology Change

Another amazing technological change over a short time is the use of broadband in homes.  When the Pew Internet Project began studying this in 2000 only 3% of homes had broadband, and now 70% of homes have broadband and internet use is above 80%, regardless of whether one is an urban or rural dweller.

Mobile Technology

You may wonder how many people still try to avoid omnipresent technology these days.  The Pew Internet Project found in Jan. 2014 that 90% of American adults have a cell phone and only 14% do not use the internet at all.  This really is astounding considering that in 1995, 86% of the population did not use the internet.  More to come......

Dane Day Trips

In 1996 the Capital Times did a series of articles on Dane County Day Trips.  These trips take you to places in Dane County you don't even know exists.  If you'd like a copy of the five trips, e-mail me at rgorsuch@oakbankonline.com.

Beauty of Nature

Occasionally one has an experience that reminds them to be aware of your surroundings.  I had one such experience the other day when an Oriole flew unto and landed on the railing of my deck.  It proceeded to go to the patio table that had a little puddle of rainwater on it and took a drink.  What beauty!

State of the Economy

Oak Bank had its annual Shareholders' Meeting last night.  A highlight of the meeting was a talk by the economist for Legacy Private Trust, a firm we have partnered with for trust and related services.  Paul Kasriel who has an impressive background with the Federal Reserve Bank of Chicago and Northern Trust Co of Chicago as an economist feels we will see significant growth in our economy over the balance of this year.  In addition to his outlook, it also appears the U. S. Government is backing off some of its stringent mortgage lending rules passed down after the home loan bubble burst.  Good news for the housing industry and the economy.

Small Business & Jobs

Often overlooked when discussing economic conditions is the impact small business has on the number of jobs being created.  Small firms with less than 500 employees accounted for 63% of the net new private-sector jobs created between 1993 and mid-2013.  What's more, small businesses make up 99.7% of U.S. employer firms and 48.5% of private-sector employment.  Clearly small businesses are important to our economy and the community banks that largely serve them.

Your Branch is your Phone

The use of mobile devices is increasing at a pace that is impacting business sales like nothing before!  This includes banking.  Eventually, it's inevitable that more consumers will turn to mobile and new merchants will come up to speed.  20 years from now I envision banks looking entirely different than we know them today.

50 years

It is not often someone spends 50 years in a profession and is starting on their second 50!  But that's me.  Doubt if I will complete the next 50, but who is counting?  I could talk for hours about how banking used to be and how it is today.  But with all the changes interest rates today are actually lower than when I started in banking in 1964. 

Elite We Are!

Bo Ryan never ceases to amaze me.  I knew after watching Baylor play last Sunday, and listening to everyone comment about how tough Baylor would be for Wisconsin, that Bo would see it as a challenge.  And he met the challenge!  Someone who has been around as long as he has needs that special challenge once in a while to keep the fun in what they're doing!

Madness!

Well, my possibility of winning the billion dollars by getting all 64 games in NCAA tourney correct ended yesterday!  The wins of No. Dakota State; Dayton and Harvard took my money away!

Savings VS Debt

A recent bankrate.com report shows that nearly 50% of Americans have more credit card debt than emergency savings.  What's more, Americans' comfort levels with their savings have fallen to their lowest point in a year.

Ethics

As we see the corruption that exists in big government, it is refreshing to be led in this state by one who, in my opinion, exemplifies courage and ethics like not often seen.

Happy States

I saw a results of a recent study on what states in the U.S.A. have the happiest people and which the unhappiest.  Surprisingly, the top 5 happiest states are all in the north;   No. Dakota, So. Dakota, Nebraska lead the list for the happiest.  West Virginia is the most unhappy state, followed by Mississippi and Alabama.  Wisconsin was not in the top 10.

Business Cheerleader

We like to think of ourselves as a cheerleader for small business.  Beyond providing loans and business banking products, we also have an important role to play as a sounding board and trusted advisor.  We think being an effective cheerleader is not waving pompoms, shouting morale-boosting chants into megaphones, or flying 15 feet in the air.  Instead we try to focus on being a good friend to small business owners.  We try to tailor our offerings to our clients and perform a supporting role with gusto and a high level of enthusiasm.  Rah, rah, rah......

American TV

The small business community has been rocked by the news of American TV's closing.  Here is a Madison-based business that has been around for 30 years closing shop.  Just down the road a 50 plus year business, Johannsen's closed not that long ago.  While all the talk is about the future plight of small business, I can tell you that small business is alive and well.  There are thousands of small business in Wisconsin thriving and who have a bright future.  So don't despair, quality personal service and products is still here!

Why Do You Leave

Research indicates there are two leading reasons people leave their preferred banking institution:

1.  An increase in a fee or fees;
2.  Poor customer service.

Any change we make in fees we feel is necessary and justified.  Those of you on the receiving end of these fees should call us anytime you feel a fee is not understood by you or justified.  And it goes without saying that we always encourage input on our client service level.

Student Loans

Student loans and the repayment of student loans is a real problem in our economy.  It seems those who own up to their commitment to repay the loans are being penalized by those who do not repay.  The rates on the loans to those who are paying keeps going up to offset the losses of those who do not.  I think getting these loans is too easy.  Another example of government taking over what had been a rather successful program and turning it into a mess.

Markets

A little correction in the stock market is taking place.  Was due. 

Arctic Air

A person certainly gets a feel for what those who live inside the Arctic Circle experience!  It is damn cold out.  People are always telling me this must remind me of Upper Michigan, where I grew up.  The fact is, it seems colder here.  Granted winters up there are longer with lots of snow.  But I much prefer snow over brutal cold!  Another factor is that the U.P. is almost completely surrounded by open water, which at 32 degrees or more tends to produce snow and milder temps.  So if you want to escape this cold, go to the U.P.  (tongue in cheek!) 

Here and There

One has to wonder where the 110,000,000 credit and debit card theft from Target will end up.  It also sounds like this is only the tip of the iceberg and that many other retailers may have also been hit.  Does that mean 90% of people in the U.S. have already had their information stolen?  One has to wonder.

Global Warning

I am aware that the issue of global warming is more than just one winter, but I sure am not hearing much about global warming this winter around here!

Target

Target Corporation is offering one year free credit monitoring and identity theft protection to anyone who was affected by the recent Target data breach.  So if your credit or debit card was affected, you can go to the following site to get the free monitoring and protection.

https://corporate.target.com/discover/article/free-credit-monitoring-and-identity-theft-protection

Weather

Yesterday when the temperature got way up to 9 degrees ABOVE zero with the sun shining, one could not help buy notice the lift in peoples'  spirits!  The sun is a powerful intoxicant! 

Fair Weather Fans

Minus 7 degrees at kickoff in Lambeau this Sunday.  I'll be there and not in a suite.  I have a outfit worn by those who compete in the Alaska Iditarod and boots good to minus 130!  Two son-in-laws; 2 daughters and 3 grandchildren accompanying me.  They have been to cold games before, but not as cold as this will be.  Hope it beats the 1967 Ice Bowl for low temp!

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.