Greinke

I have a feeling a trade of Zack Greinke is right around the corner. 

Financial Cliff

The Federal Home Loan Bank of Chicago held an economic conference last week at which leading nationally known economists discussed the mess we are in.  There were democrats and republicans on the agenda who spoke.  The one common thread that seemed to run throughout their comments was that the U.S. is on a financial cliff;  a cliff we are on the verge on falling over the edge.  Probably not this year nor the next;  but no one would take bets on the next five years.  Our debt and deficit situation is untolerable.

Even though some disagreed with the Paul Ryan plan as not containing specifics, they did agree something needs to be done with our budget and spending programs as a nation.

Been A While

Wow, it's been quite a while since I've posted.  This has been quite a summer weather-wise.  You have to feel for our farmer friends.  I am feeling like we are in for a winter like we haven't had for sometime. 

Since we talked last, I have been to Charlotte, No Car.  Nice city.  Other than that, been doing some road biking which once out, is just great!  It's good for the mind and body.

Politics haven't changed.  It was interesting how the "Recall Walker" yard signs disappeared the day after the recall election! 

VOTE!!

I've always said the two most important rights we have is the right to a trial by jury and the right to vote.  So be sure and vote today.  Long line at my polling place this morning.  Looks like a record turnout.

UW Football

I know it is only May, but football season is already on the agenda.  Yesterday the Big 10 schedule for the next 4 years was released.  No Michigan State on the schedule for 4 years!  And another reminder was when I was notified that I can select my parking locations starting on June 4th.  But there is plenty of baseball left, so let's forget about football for a while. 

Vote

Today is one of those days where we exercise one of our greatest freedoms.... the right to vote. 

I still have copies of some very interesting Dane County day trips.  Call me at 608-250-5500 if you have an interest in getting a copy of five trips.

Annual Shareholders' Meeting

Our annual shareholders' meeting occurred last night at the Promega headquarters building in Fitchburg.  A positive review of 2011 accompanied with some good food and drink made for an enjoyable evening.  It is always good seeing shareholders, some who I haven't seen since last year's meeting. 

WWII Honor Flight

If you ever have the opportunity to go the the Dane County Regional Airport and be there when the World War II honor flight returns from Washington, D.C. take advantage of the opportunity.  It will bring tears to your eyes to see the joy in the eyes and on the faces of those veterans.  We owe so much to them.  The first person off the flight was an 102 year old woman.  She had tears in her eyes, too.

Steve Jobs

I am almost finished reading the book "Steve Jobs."  Something I just read needs to be shared.  Shortly after he was diagnosed with pancreatic cancer, he delivered the commencement address at Stanford Univ.  The following was part of that address.

"Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life.  Because almost everything -- all external expectations, all pride, all fear of embarrassment or failure -- these things just fall away in the face of death, leaving only what is truly important.  Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose.  You are already naked.  There is no reason not to follow your heart."

Lightning Strikes!

On Saturday night, at about 11:30 p.m. our building was struck by lightning.  The strike was on the second floor of the building and immediately set off the sprinkler system.  Any fire as a result of the strike was extinquished.  But the sprinklers kept running for sometime before the fire department arrived and was able to turn them off.  We have incurred significant water damage and as a result, our drive up is closed.  We estimate it will be about 10 days before we are back in operation.

We are in the process of replacing lots of drywall and equipment.  In the meantime our staff is working hard to be sure our clients get the same service as normally expected.

Compliance Costs

During a recent compliance exam I was again reminded of the tremendous cost to our society for consumer compliance issues that are well intended, but fail miserably to really address the problem.  Take for example:  Privacy Notices.  How many of you have ever read one of those notices that you receive from every credit card company and bank you do business with?  And every one of them is required to send you the same notice.  Billions and billions of dollars of waste.  And all these costs get passed on to you, the consumer.  As long as no one complains to our legislators, it will only get worse. 

Greece & Debt

There was a segment on "60 Minutes" last night about the debt crisis in Europe. The bottom line is the countries who are in crisis have incurred too much debt and are in danger of defaulting on it. And all the social welfare programs they have implemented over the years are unaffordable and creating social unrest in those countries.

How far are we away from this situation?

Elections

Certainly one of the main challenges of political leaders is building consensus among opposing sides. I am concerned that we have allowed our financial situation to deteriorate to the point where I am not sure if we have the time it will take to build this consensus.

Almost Here

While this weekend's college basketball NCAA finals are truly exciting, my eye is on the Brewer opener next Friday, April 6. A lot of pundits are picking the Cardinals to win the NL Central but I think the Brewers could actually be better this year than last when they won the division. Whatever, the start of baseball means summer isn't far off.

New Technology

On the back of my business card I now include a QR code which when scanned by a smart phone will automatically add all my contact data directly to your contact list. If you'd like to see what I've done, just e-mail me at rgorsuch@oakbankonline.com.

Interest Rates

The Federal Reserve has decided to keep the benchmark Fed Funds Target Rate at a range of 0.00 - 0.25%. They also decided yesterday to keep the Discount Rate at 0.75%. They stated, "Labor market conditions have improved further; the unemployment rate has declined notably in recent months but remains elevated. Strains in global financial markets have eased, though they continue to pose significant downside risks to the economic outlook."

Home loan rates will continue to be at historical lows. However, the bad news is that those on fixed incomes who depend on deposit interest income are negatively impacted.

Spring

We'd all like to think spring is here. But I fully expect we will see at least one more snowy blast.

It appears interest rates are going to remain at these historical low levels through mid-2014. At least, that's what Chairman Bernanke of the Fed leads us to believe. If you have a home loan and have not refinanced, you need to check with us. If your loan balance is over $200k and you can lower the rate 0.50% or more, it makes sense. For smaller loan balances you need more of a spread.

Rhetoric Continues

I listen to the Mitch Henck show on WIBA-AM each morning. I find his talk show one of the more sensible; not all the ranting and raving you hear on other talk shows. But the division of views in our state and country is still evident. It becomes difficult to really know who is right. Compromise is needed but it doesn't appear to be in the making.

Country Divided

For some time I have been bothered about the political extremes and the tension it has created in this country. Never have I felt the divisiveness I do now. Compromise seems so difficult to be reached in our state house or Washington. Here's a wild idea: An Obama/Santorum ticket in 2012!

Winter is Over

Regardless of the snow storms we will get this month of March, winter is all but over. What a winter! Now we get to Big 10 basketball tourneys; NCAA tourney. Great beginning to the spring.