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Here is the latest sports news: The Vikings collapsed again in a loss to the Lions. The Twins topped the Indians. The Lynx advanced to the WNBA Finals on Sunday.
Vikings Meltdown Again In Loss To Lions
(Minneapolis, MN) — For the third straight week, the Vikings blew a big halftime lead in a 26-23 overtime loss to the Lions. Minnesota led 20-0 at intermission, but Jason Hanson's 32-yard field goal in OT gave the Lions the first win in Minnesota since 1997. The 0-and-3 Vikings have been outscored 67-6 after halftime this year. The Vikes face the winless Chiefs next week.
Twins Take Down Tribe In 10
(Cleveland, OH) — Rene Tosoni homered to lead off the 10th as the Twins topped the Indians, 6-4. Chris Parmalee singled in Michael Cuddyer [[ cuh-DIE-er ]] later in the frame for the final run. The win gave Kyle Waldrop his first MLB victory. Joe Nathan closed things out for his 14th save. The Twins begin a season-ending three-game series with the Royals at Target Field at 7:10 tonight. Felipe Paulino will oppose Kevin Slowey.
Lynx Advance To WNBA Finals
(Phoenix, AZ) — Maya Moore and Taj McWilliams-Franklin had 21 points apiece as the Lynx advanced to the WNBA Finals with a 103-86 win over the Mercury. Lindsay Whalen added 18 points for the Lynx, who swept the best-of-three Western Conference finals. Minnesota will face either the Atlanta Dream or the Indiana Fever in the finals. The decisive Game Three in that series is Tuesday.
Gophers Lose To Bison
(Minneapolis, MN) — North Dakota State knocked off Minnesota, 37-24, on Saturday. Marcus Williams, who played at Hopkins High School, had two defensive touchdowns for NDSU in the win. The Gophers will hit the road to face 19th-ranked Michigan next week.
Coach Kill Checks Into Mayo Clinic
(Minneapolis, MN) — Minnesota head football coach Jerry Kill has checked into the Mayo Clinic for his seizure disorder. Kill checked in Saturday and officials for the university say he'll be out for an unknown period of time. Kill said last week he suffered more than 20 seizures since the one he had on the sidelines during a September 10th game.
Wild's Staubitz Suspended Indefinitely
(New York, NY) — Wild forward Brad Staubitz has been suspended indefinitely by the NHL pending a hearing. The penalty has been implemented following a game misconduct and major penalty Staubitz received for checking from behind 4:24 into the third period of Friday's preseason game against Columbus. The incident will be reviewed by the NHL's Department of Player Safety before a final penalty is assessed.


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Monday, October 9, 2006
Baked French Toast with Peaches and Walnuts
Baked French Toast (adapted from a recipe by Pampered Chef )
4 ounces cream cheese, softened
14 slices (1 inch thick) French bread (don't use the smaller baguette size).
1 (29 ounce) can peach slices, drained or a couple of cups of chopped apple slices
1/3 cup walnuts, halved or coursely chopped
3 eggs
1 cup less 1 teaspoon milk
1/3 cup maple syrup
3 tablespoons butter melted (halved)
1 tablespoon granulated sugar
1 teaspoon ground cinnamon
1/4 teaspoon cardamon
1/4 teaspoon nutmet
2 teaspoons vanilla extract
Heat oven to 400 degrees F.
Spread cream cheese over both sides of bread slices. Place bread in 13 x 9 inch or lasagna style baking pan. Prick bread slices several times. Top with fruit; sprinkle nuts over peaches.
In large bowl, whisk eggs, milk, syrup, butter, sugar, cinnamon, nutmeg and cardamon (you can just use cinnamon if you don't have the other) vanilla extract and half the melted butter.Pour mixture over bread. Drizzle the top with the remaining butter. Bake for 22 to 25 minutes or until firm in center.
You could also make this with a couple good sized handfulls of blueberries and 1/3 cup granola or almonds instead of the peaches/walnuts.
Yields 6 servings.
Posted by Brigid at 8:23 PM
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Alissa Scott/ Recorder News Staff - A referee, and player, called the end of one game during the three-on-three basketball tournament Saturday that supported non-violence and the memory of two teens who were killed in the town of Florida last year.
Alissa Scott/ Recorder News Staff - Teams checked out who they would be playing in their next game during the three-on-three basketball tournament Saturday.
By ALISSA SCOTT
Recorder News Staff
Hundreds packed into Veteran's Field Saturday to promote non-violence in a three-on-three basketball tournament hosted by W1SHFUL:TH1NK1NG, a community organization.
The second annual tournament spawned from a dire need, expressed by locals, to remember two teens who were killed just outside Amsterdam's city limits last July. Jonathan Dejesus, 13, and Paul Damphier, 16, were found in a soybean field 10 days after they were shot and killed. Two teens were charged with their death.
The game fell two days after Matthew Phelps, 16, and Anthony Brasmiester, 17, were sentenced to prison terms. Phelps will spend between 15 years and life behind bars and Brasmiester will spend 25 to life in prison.
Wearing T-shirts with the names of Dejesus and Damphier, participants formed teams of three and played against each another.
"I'm doing this for Pauly and Jonathan," Runako Bratchwaite, a friend of the two, said. "They were like friends to all of us. We're respecting their families and supporting them."
Bratchwaite, who had just lost a game, said his team, RAJ, is "about to take it all."
"No, I don't think it," Bratchwaite said. "I know it. We're going to win it all."
Light rain sprinkled throughout the day, but it didn't dampen the spirits of the players or the purpose of the day. TJ Czeski, founder of W1SHFUL:TH1NK1NG said the turnout was much more than he expected and that more than 60 teams registered to play.
"If you look around at everyone, it's unbelievable to reflect on it," Czeski said. "Everyone's happy. It's a little chaotic at times, but it's the community that's making this possible."
Besides those playing, many showed their support by watching the games or enjoying some activities also available to attendees. A bounce house was set up on the lawn behind the basketball court for children and a dunk tank sat in the tennis courts.
Music was played throughout the games and there were also several shop vendors selling T-shirts, hats and food.
During breaks, players could participate in a foul shot, or 3-point shot contest
Players were charged a $10 fee to participate, which John Sumpter, a W1SHFUL:TH1NK1NG member, said will benefit the city of Amsterdam in someway undetermined as of yet. In the past, the organization has used it towards remodeling floors in a school gym.
Last year, $3,000 was raised, but Sumpter thinks they can reach $5,000 this year.
"Just to bring the community together where there's smiles on people's faces, just to remember why we're doing what we're doing," Czeski said. "It's all because of what happened. Unfortunately, those teenagers aren't with us today, but this is them right now. This is their legacy."


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At Lisbon's edition of Vogue Fashion's Night Out, the visitors to Fabrica Features were greeted with a very pleasant surprise – the United Portuguese exhibition.
This exhibition was born from an idea that some of our blog's most frequent readers may recognize. The reinvention of pieces and the United Colors of Benetton brand by a series of Portuguese creators.
To our monthly guests, a set of Portuguese talents was added, in order to build this amazing exhibition.
It was a true source of pride to see "live and colour", the projects developed by our guests and the other 14 invited Portuguese creatives.
Not only because we had a chance to get to know some amazing Portuguese creators, but also because this idea originated from our blog.
From photography to illustration, with re-designed pieces in between, the results were surprising and wonderful.
United Portuguese will be at Fabrica Features (top floor of Chiado's Benetton store) until the 29th September. So be sure not to miss it!
Read more on Portugal's blog


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Many Institutions Believe Ireland To Be A Model of Austerity Implementation But the Facts Beg to Differ!
ZeroHedge ran an interesting article yesterday, IMF Prepares For Global Cataclysm, Expands Backup Rescue Facility By Half A Trillion For "Contribution To Global Financial Stability", stating that the IMF will surcharge larger developed countries to raise an enormous amount of money for what apparently is preparation for a massive increase in default risk throughout the world. One of the countries in line for a significant charge is Ireland. This is interesting, for it plays directly into the Pan-European Sovereign Debt Crisis theory that we have been working for all of 2010. It is our belief that the very real threat of defaults will reverberate throughout a material portion of Europe. Even countries that are supposed to be on the right track, are in reality, skating the brink of insolvency. A forensic look of Ireland brings this thesis into focus.
We have performed a cursory overview of the risks inherent in Ireland though previous "preview" posts: Ovebanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe and Reggie Middleton on the Irish Macro Outlook. For the most part, Ireland has considerable embedded risk through both foreign claims on troubled countries (ex. PIIGS) and significant bank NPAs as a percent of its GDP.
Below is an excerpt from our recent forensic Ireland analysis. Subsccribers, please download the most recent report here: Ireland public finances projections_040710:
So, Are Thing Over For Greece Now That They Received (the promise of) Money (for the 4th time)?)
I was having a conversation with a very respectable young man from the press, and he asked me the following question, "Last week, I remember you saying that you thought Greece would default and that could put Europe into recession or worse. Does the fact that Greece was able to raise debt in the past few days change your view on that?".
I thought I would post my answer to the blog, for I want my views on this to be crystal clear.
Answer: Absolutely not! Greece has three primary problems.
a. One, it has cash flow issues. The recent bailout "promise" potentially alleviates the cash flow issues, and at the same time exacerbates them. Although the 5% rate promise that was offered is less than the market is charging, it is still more than what will put Greece on sustainable footing. In addition, since this (4th) bailout "promise" was announced (and still has to be voted on), Greek banks, stocks and bonds have tanked further, as well as Greece being but on rating watch negative by the ratings agencies (one of the very few times we agree on something). I warned months ago about the very banks that have collapsed (price wise), stating that they were virtually guaranteed to see hard times. See the Greek banking attachment included (banks exposed to central and eastern Europe and the Greek Banking Fundamental tear sheet). I warned this time last year about the Spanish banks. We shall see if that warning bears fruit as well.
Euro-Gossip Debunked, Courtesy of Trichet and the IMF!
Italy on the right track, IMF says: Wall Street Journal
- Italy's economy continues to be based off of external demand, and that is important to maintain fiscal discipline (We may never hear Italy and fiscal discipline in the same sentence again)
- IMF predicts that Italian unemployment rates will continue to rise, and that native banks will continue to see credit risk rise as loans are appearing to be less profitable.
Greek Soap Opera Update: Back to the Bailout That Was Never Needed?
Of course, what would a weekend be without another installment in the Grecian soap opera: Greece Bailed Out.....Again: Bloomberg
- European governments have offered up a $61 billion Greek rescue package, meanwhile (and of course), Greece has not asked for any sort of package, insisting it can pay its debts
- Greece plans to offer €1.2 billion in 6 month and 1 year notes tomorrow (April 12th)
- So, the EMU pledges aid that Greece does not want to accept right before a bond auction that would have otherwise failed, and Germany after months of demanding Greece be punished for its profligacy, has backed off and agreed to an emergency plan that offers aid at a significant DISCOUNT to the market rate. How does this pass the mainstream smell tests?
- "The package "sends a clear message that nobody can play with our common currency and our common fate," Greek Prime MinisterGeorge Papandreou told reporters in Larnaca, Cyprus." Actually, the package sends a clear message that moral hazard abounds over there in Euroland and their will be no market discipline for financial profligacy.
Germany "has lost the competition," said Carsten Brzeski, an economist at ING Group in Brussels who used to work at the European Commission. "All that fuss and talk about not putting taxpayer money at risk has been made obsolete."
... the European loans would be tied to Euribor and priced above rates charged by the IMF, a nod to German opposition to subsidizing a country that lived beyond its means. The EU will offer a mix of fixed- rate and floating rate loans. Tis not much of a nod since it substantially undercuts the market rates. Yes, its more than the IMF rates, but the IMF rates were closer to zero, not withstanding the fact that the IMF would cause them to contort the spending.
- Greece last week raised its estimate of the 2009 deficit from 12.7 percent of gross domestic product to 12.9 percent, the highest in the euro's history and more than four times the EU's 3 percent limit.
While rules dictated by Germany in the 1990s foresee fines for countries that go over the limit, no penalty has ever been imposed. Germany also led the charge to loosen the rules in 2005 after three years of excessive deficits. Basically, the rules are a joke and there is no wonder why not even a single country in the EU has respected them.
While all euro-region governments vowed to contribute, some would need parliamentary approval. Ireland, itself reeling from the financial crisis, would require "national legislation," Finance Minister Brian Lenihan said in an e-mailed statement.Ireland is quite the interesting case in and of itself. Subscribers who have not done so are strongly recommended to carefully review the Ireland public finance review thatI will be posting later on. It's a doozy! It will be very interesting to see how a country such as Ireland who actually needs a bailout, will be bailing out another country that needs a bailout. For a sneek preview, see Ovebanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe and Reggie Middleton on the Irish Macro Outlook.
Notice how Ireland is the nation with the second highest NPA to GDP ratio.
Overall, in terms of total financing needed for 2010 (which includes 2010 bond maturities, short-term roll over debt and fiscal deficit), France and Germany top the list with € 377.5 billion and €341.6 billion, respectively while the total finance needed as percentage of GDP is expected to be highest for Belgium and Ireland at 26.3% and 22.4%, respectively.
Now, to focus on the contagion effect of Ireland, specifically, let's borrow from our yet to be released foreign claims model in order to see who may be effected from the rush to pull capital out of extant positions to fill the leveraged NPA holes left by the banks...
Ireland has the largest claims against the UK as a percentage of the its respective GDP, the largest in the world. In the rush to raise cash to sell assets, expect some fire sales in the UK. For those who may be wondering how this may affect the UK, see our premium subscription report on the UK's public finances and prospects (recently updated to include the last round of government projections): UK Public Finances March 2010 2010-03-29 06:20:38615.90 Kb
Ireland can also be expected to pull assets our of the ailing PIIGS group as well, since they are, bar none, the biggest lender to that group as a percentage of GDP. No wonder their banks are having problems.
The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious! to find that Ireland can exacerbate the problems of Austrian, Swedish and Belgian banks by pulling capital out of the CEE region, and yes, they are truly in a depression:Ireland also has the second highest claims (as percent of GDP) against the central and eastern European nations, who happen to be in a full blown depression. The withdrawal of assets, banking support and credit will exacerbate both Ireland's problems and that of these nations. See
The Greek government has yet to request a European lifeline, confident that this year's planned budget cut of 4 percentage points will stem speculation that it is heading for the euro region's first-ever default. Fitch Ratings highlighted that risk by shaving Greece's debt rating to BBB-, one level above junk, on April 9.
A combination of higher taxes, lower spending and salary cuts for public workers have prompted strikes and protests against Papandreou, a socialist elected in October on promises of raising wages.
- The EU showed no sign of demanding further Greek austerity measures. Rehn hailed the Greek government for implementing "a very bold and ambitious program."This is interesting since our analysis shows that the plan as Greece has announced it, just won't be able to cut the butter. Either the guys at the EU didn't read the plan, their spreadsheets need to be recalibrated, or they aren't being totally upfront. Then again, maybe I can be totally wrong and all of the EU/IMF/Greek government super rosy estimates illustrated below will turn out to be different this time around????
Greece needs to raise 11.6 billion euros by the end of May to cover maturing bonds, and another 20 billion euros by the end of the year to pay debt coupons and finance this year's deficit. The debt agency plans to offer 1.2 billion euros of six- month and one-year notes tomorrow, in a test of investor confidence. So far, all of the recently issued bonds are totally undewater. Is this really a worthwhile investment?
Greece is likely to need money by the end of April, said Erik Nielsen, London-based chief European economist at Goldman Sachs Group Inc. Noting that the budget cuts threaten to cripple the economy, he said in a research note that "this thing is unlikely to go to bed anytime soon." "Cripple" the economy is right. They will throw themselves into a deeper depression, and it is doubtful that the cuts go anywhere near far enough, thus they will either have to cut deeper or face the fact that they will still be running an inappropriate deficit anyway.
Let's take a visual perusal of what I am talking about, focusing on those sovereign nations that I have covered thus far.
Notice how dramatically off the market the IMF has been, skewered HEAVILY to the optimistic side. Now, notice how aggressively the IMF has downwardly revsied their forecasts to still end up widlly optimistic.
Ever since the beginning of this crisis, IMF estimates of government balance have been just as bad...
The EU/EC has proven to be no better, and if anything is arguably worse!
and the EU on goverment balance??? Way, way, way off.
If the IMF was wrong, what in the world does that make the EC/EU?
The EC forecasts have been just as bad, if not much, much worse in nearly all of the forecasting scenarios we presented. Hey, if you think tha's bad, try taking a look at what the govenment of Greece has done with these fairy tale forecasts, as excerpted from the blog post "Greek Crisis Is Over, Region Safe", Prodi Says - I say Liar, Liar, Pants on Fire!...
Think about it! With a .5% revisions, the EC was still 3 full points to the optimistic side on GDP, that puts the possibility of Greek government forecasts, which are much more optimistic than both the EU and the slightly more stringent but still mostly erroneous IMF numbers, being anywhere near realistic somewhere between zero and no way in hell (tartarus, hades, purgatory...).
Now, if the Greek government's macroeconomic assumptions are overstated when compared with EU estimates, and the EU estimates are overstated when compared to the IMF estimates, and the IMF estimates are overstated when compared to reality.... Just who the hell can you trust these days??? Never fear, Reggie's here. Download our "unbiased, non-captured, empirically driven" forecast of the REAL Greek economy - (subscribers only, click here to subscribe) Greece Public Finances Projections 2010-03-15 11:33:27 694.35 Kb. Related banking research can be downloaded here:
It really is a shame when you have to pay for the truth, isn't it? If you think you've witnessed an example of social unrest in Greece, you ain't seen nuthin' yet. Wait until the reality of these faked numbers start hitting home...
The Pan-European Sovereign Debt Crisis, to date (free to all):
1. The Coming Pan-European Sovereign Debt Crisis - introduces the crisis and identified it as a pan-European problem, not a localized one.
2. What Country is Next in the Coming Pan-European Sovereign Debt Crisis? - illustrates the potential for the domino effect
3. The Pan-European Sovereign Debt Crisis: If I Were to Short Any Country, What Country Would That Be.. - attempts to illustrate the highly interdependent weaknesses in Europe's sovereign nations can effect even the perceived "stronger" nations.
4. The Coming Pan-European Soverign Debt Crisis, Pt 4: The Spread to Western European Countries
5. The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious!
6. The Beginning of the Endgame is Coming???
7. I Think It's Confirmed, Greece Will Be the First Domino to Fall
8. Smoking Swap Guns Are Beginning to Litter EuroLand, Sovereign Debt Buyer Beware!
9. Financial Contagion vs. Economic Contagion: Does the Market Underestimate the Effects of the Latter?
10. "Greek Crisis Is Over, Region Safe", Prodi Says - I say Liar, Liar, Pants on Fire!
11. Germany Finally Comes Out and Says, "We're Not Touching Greece" - Well, Sort of...
12. The Greece and the Greek Banks Get the Word "First" Etched on the Side of Their Domino
13. As I Warned Earlier, Latvian Government Collapses Exacerbating Financial Crisis
14. Once You Catch a Few EU Countries "Stretching the Truth", Why Should You Trust the Rest?
15. Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse!
16. Ovebanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe
17. Moody's Follows Suit Behind Our Analysis and Downgrades 4 Greek Banks
The EU Has Rescued Greece From the Bond Vigilantes,,, April Fools!!!
How BoomBustBlog Research Intersects with That of the IMF: Greece in the Spotlight
Grecian News and its Relevance to My Analysis
A Summary and Related Thoughts on the IMF's "Strategies for Fiscal Consolidation in the Post-Crisis
A Summary and Related Thoughts on the IMF's "Strategies for Fiscal Consolidation in the Post-Crisis
The IMF has recently released a white paper labeled "Strategies for Fiscal Consolidation in the Post-Crisis World". Here's a synopsis:
- The fiscal state of the developed world is facing the question of solvency for the first time since WWII, and this time demographic trends are incredibly unfavorable. See Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse! for explicit evidence.
- Current fiscal models for the developed world see fiscal tightening starting in 2011 [in 8 months governments are going to start tightening liabilities? Possible, but I wouldn't hold my breath for this one]
- The only G-7 economy with debt projected at <85% of GDP is Canada [True, but is that because it is temporally behind the curve? See Easter Weekend News Update:
Canadian Dollar Too Strong? Bloomberg.com:
- Minority opposition in Canadian Parliament is growing over strengthening Loonie
- Leaders fear fallout in exports from CAD nearly at parity with USD
- CAD strength is directly tied to Chinese commodity demand (is the CAD bubblicious, too?)
- Relevant BoomBustBlog content (we gave you an explicit warning of this in early January): China's Most Expensive Export: Price Inflation
- Canada is undergoing the beginnings of a housing bubble as I type this!]
- Debts in emerging markets are beginning to look safer as they pare down stimulus packages plus old debt.
Potential Exit Strategies:
- Inflating (debasing) one's own currency to pay off debt is too dangerous on a social level to be seriously considered, especially for emerging markets
- Over the past three decades, the most successful method of managing debt and securing social safety has been to expand the primary balance surplus
Reference What Country is Next in the Coming Pan-European Sovereign Debt Crisis? - illustrates the potential for the domino effect
Click to enlarge...
- Currently, the biggest step toward renewing primary surpluses in the developed world would be to phase out entitlement/pension funding or drastically modify payout schemes
[But who really knows where all of the bodies are buried? Reference Smoking Swap Guns Are Beginning to Litter EuroLand, Sovereign Debt Buyer Beware!
The French
In 1997, the French government received an upfront payment of £4.7 billion ($7.1 billion) for assuming the pension liabilities for France Telecom workers in return. This quick cash injection helped bring down France's deficit, helping the country to meet the pre-condition to join the Euro zone. You may reference the Laurent_Paul_and Christophe_Schalck_study for a background on the deal. I don't necessarily concur with their conclusions, but it does provide some info
For the record and according to the doc referenced above, according to the State balance sheet for 2006, total pension liabilities of civil servants have been estimated at 941 billion €, i.e. 53% of annual GDP in France. An attempt to reform all special schemes in 1995 collapsed because of severe strikes on the railways. Sounds awfully Hellenic in nature, doesn't it??? I, for one, believe that Greece is getting a bad rap, and not becaue it is being falsely accused but because it is just a lot sloppier at covering up its shenanigans than its European neighbors.
Now, back to France. A transaction similar to the France Telecomm deal took place in 2006 with La Poste which still employs 200,000 civil servants, but is now facing the same evolution as France Telecom in 1997. But an important difference with France Telecom is the obvious insufficiency of the lump sum paid by the postal company (2 billion €) compared to the amount of pension liabilities transferred (70 billion € at the end of 2006).
- Almost 1/5 of public spending stabilization could come without affecting public investment, and simply cutting wage and transfer payments
- The IMF recommends setting up government institutions to enforce budget restrictions (the ridiculousness of one government entity stopping a handful of spendthrift entities is mind boggling)
Global Adjustments:
- Emerging markets that have opted to inflate away debt have seen interest rates skyrocket for years, while other who opted to adjust the primary balance deficit have seen interest rates fall
- The average G-20 nation will need to adjust its balance sheet 8.8% by the end of the decade to reach public debt targets [RIIIGHT!!!! Like the Maastricht Treaty which, after 18 years has been respected by exactly 0.000000% of its members, all of whom are well below the 3% debt to GDP threshold by about an average of negative 300%!!!!]
- Over the past 30 years, Greece has made a "large fiscal adjustment" once (1995), where they had more success generating new revenue, andbarely managed to cut expenditures. Greece's inability to make any sort of cuts to preserve fiscal responsibility is going to embarrass the cheerleaders looking to save Europe without lifting a finger. Spanish and Italian efforts have yielded similar results
Long Term Growth:
- Over the previous 15 years, a clear inverse relationship has developed between debt ratios and real GDP growth
- Evidence on whether adjustments should be upfront (shock therapy 1990's) or gradual is inconclusive according to IMF staff
- One of the easier methods of reducing public expenditures is to tighten and reform pension policy (the days of mandatory retirements, backloaded payouts based on final five years average salary, etc, are numbered)
- Countries with higher domestic debt ownership are more likely to honor debt and have higher debt tolerances among citizenry (i.e. Japanese JGB hoarding vs. USA tea parties)
The IMF has an incredible data set to work with yet somehow continues to see a picture far rosier than what meets the eye. The impacts of measures to manage sovereign debt loads seemed to be futile in the medium-long term. The situation we currently see is similar to the 1950's in data only. The demographic makeup of the world today (particularly in Europe) is one that is aging, dependent on entitlement programs, and underfunded pensions that are seeing falling/no incoming revenue. This is a clear contradiction to the call for managing or reducing entitlement and wage expenditures at the government level (globally), and is a sign that fears over a global sovereign default among advanced economies is a legitimate threat over the next decade.
Related Subscriber Content:
- Spain public finances projections_033010 (Global Macro, Trades & Strategy)
- UK Public Finances March 2010 (Global Macro, Trades & Strategy)
- Italy public finances projection (Global Macro, Trades & Strategy)
- Greece Public Finances Projections (Global Macro, Trades & Strategy)
- Banks exposed to Central and Eastern Europe (Commercial & Investment Banks)
- Greek Banking Fundamental Tear Sheet (Commercial & Investment Banks)
- Italian Banking Macro-Fundamental Discussion Note (Commercial & Investment Banks)
- Spanish Banking Macro Discussion Note (Commercial & Investment Banks)
- China Macro Discussion 2-4-10 (Global Macro, Trades & Strategy)
The Pan-European Sovereign Debt Crisis, to date (free to all):
1. The Coming Pan-European Sovereign Debt Crisis - introduces the crisis and identified it as a pan-European problem, not a localized one.
2. What Country is Next in the Coming Pan-European Sovereign Debt Crisis? - illustrates the potential for the domino effect
3. The Pan-European Sovereign Debt Crisis: If I Were to Short Any Country, What Country Would That Be.. - attempts to illustrate the highly interdependent weaknesses in Europe's sovereign nations can effect even the perceived "stronger" nations.
4. The Coming Pan-European Soverign Debt Crisis, Pt 4: The Spread to Western European Countries
5. The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious!
6. The Beginning of the Endgame is Coming???
7. I Think It's Confirmed, Greece Will Be the First Domino to Fall
8. Smoking Swap Guns Are Beginning to Litter EuroLand, Sovereign Debt Buyer Beware!
9. Financial Contagion vs. Economic Contagion: Does the Market Underestimate the Effects of the Latter?
10. "Greek Crisis Is Over, Region Safe", Prodi Says - I say Liar, Liar, Pants on Fire!
11. Germany Finally Comes Out and Says, "We're Not Touching Greece" - Well, Sort of...
12. The Greece and the Greek Banks Get the Word "First" Etched on the Side of Their Domino
13. As I Warned Earlier, Latvian Government Collapses Exacerbating Financial Crisis
14. Once You Catch a Few EU Countries "Stretching the Truth", Why Should You Trust the Rest?
15. Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse!
16. Ovebanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe
17. Moody's Follows Suit Behind Our Analysis and Downgrades 4 Greek Banks
The EU Has Rescued Greece From the Bond Vigilantes,,, April Fools!!!
How BoomBustBlog Research Intersects with That of the IMF: Greece in the Spotlight
Grecian News and its Relevance to My Analysis
Greece has been in the news a lot over the last 24 hours. Let's recap:
Bloomberg: Greece May Find Lukewarm U.S. Reception for Its Bonds
April 7 (Bloomberg) -- Greece may discover it's no cheaper to sell bonds in the U.S. than in Europe as the government seeks to persuade investors it can plug the region's biggest budget deficit.
Investors may demand a yield of as much as 7.25 percent to buy Greek 10-year dollar bonds, 410 basis points more than benchmark German bunds and 330 basis points more than Treasuries, according to Paris-based Axa Investment Managers, which oversees about $669 billion. TCW Group Inc., which manages $115 billion in assets from Los Angeles, says Greece may have to offer a premium of as much as 400 basis points over Treasuries.
Petros Christodoulou, director general of Greece's Public Debt Management Agency, said March 31 the country planned a "roadshow" in the U.S. and maybe Asia to drum up investor demand for a sale of dollar-denominated bonds. The country may offer as much as $10 billion of the securities, the Wall Street Journal reported the same day. Greece is struggling to tackle a budget deficit that is equivalent to 12.7 percent of gross domestic product, more than four times the European Union's 3 percent limit.
Anybody present at these road shows should print out a copy of the post Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse! and"Greek Crisis Is Over, Region Safe", Prodi Says - I say Liar, Liar, Pants on Fire!. Be sure to have the salespersons answer the hard questions posed in those pieces. Subscribers can feel free to whip out the subscription material and ask for explanations and clarifications - Greece Public Finances Projections. I am anxious to hear what would be said in response. At this point, I see a Greek effective default as a foregone conclusion.
More on this topic: Euro, Greek Bonds Drop on Rescue Concern; Most U.S. Stocks Gain
From CNBC: Greek Banks Hit by Money Moved Offshore: Report
Greek banks are being hit by a wave of redemptions as rich citizens and companies look to move their money to big global banks or offshore as the country's debt crisis rages, the Telegraph newspaper reported on its website.
The report appeared to contradict recent data from the European Central Bank and comments to Reuters by analysts and Greek banking sources, who said there was no clear evidence of a major, extended deposit outflow from Greek banks.
The UK newspaper said late on Monday that big depositors have been clamoring to move their cash to international financial firms such as HSBC or France's Societe Generale, which operate large branches in the country.
They are among those to have received several billion euros of new money, it said without specifying sources.
... More than 3 billion euros ($4.05 billion) of deposits held by Greek households and companies left the country in February, while in January about 5 billion euros of deposits were moved out, the Telegraph quoted figures from Bank of Greece as showing.
Switzerland, the UK and Cyprus have been the largest recipients of the money, with the wealthiest Greeks looking to move their deposits to Swiss banks accounts to escape the more punitive tax measures many fear will be introduced in the wake of the country's economic crisis, the newspaper said.
Subscribers should reference:
From the Greek banking site, bankingnews.gr: [coarsely translated] Greek long bond investors - <a href="http://www.bankingnews.gr/ΟΛΑ-ΤΑ-ΝΕΑ/item/2159-Πουλάνε-ελληνικά-ομόλογα-και-οι-long-επενδυτ
Easter Weekend News Update
Canadian Dollar Too Strong? Bloomberg.com:
- Minority opposition in Canadian Parliament is growing over strengthening Loonie
- Leaders fear fallout in exports from CAD nearly at parity with USD
- CAD strength is directly tied to Chinese commodity demand (is the CAD bubblicious, too?)
Relevant BoomBustBlog content (we gave you an explicit warning of this in early January): China's Most Expensive Export: Price Inflation
Ukraine is dangerously close to the brink http://www.bloomberg.com/apps/news?pid=20601095&sid=aNw4Q7ntlMqc
- Ukraine is about to use up the remainder of a $16.4 billion IMF loan
- Premier Mykola Arazov has applied for another loan to "reform the economy" (what the hell did they do with the first $16.4 billion?)
- Ukraine has needed assistance to make good with about 20 lenders
We have went through this in exquisite detail, both in the public sections of the blog and particularly in the subscriber-only content. See The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious! Professional and institutional subscribers should carefully reference "Banks Exposed to CEE & SEE" while all paying subscribers should review the "Greek Banking Industry Tear Sheet".
How BoomBustBlog Research Intersects with That of the IMF: Greece in the Spotlight
The IMF has recently released the results of their staff consultations with Greece. Some may find it interesting, particularly where it intersects with relevant BoomBustBlog research. Let's not mince words here. Greece is going to effectively default on its debt, one way or another, and it is probably going to do it relatively soon. Shall we walk through the IMF findings from LAST YEAR and how they are actually optimistic compared to the facts that my team and I have dug up?
IMF Consultation: Greece (2009)
· After joining the EU, the income gap between Greece and the Eurozone fell on lower interest rates and the resulting "demand boom"
· Through the boom, fiscal deficits stayed at >95% of GDP, fiscal condition continues to aggravate 10 year spreads & contributes to credit downgrades (arguably a lagging indicator)
· Private Greek debt is below the Eurozone average, as is the case for non-financial corporations (governments and financial services therefore must be the source of Greek leveraging)
· Even as output has dropped, Greek wages have remained comparably high, and saw a 12% nominal increases in from 2008 - 2009
· Quality of assets on Grecian balance sheets continues to erode with end of credit based consumption in Southeastern Europe (SEE)
· Household and corporate credit growth has slowed, probably due to rising interest rates causing the opportunity cost of taking on new debt to be unmanageable (directly causing revenue shortfall at the government level)
· IMF forecasted uncertain, and potentially negative growth from 2009 through 2010 on stagnant trade and policy based mistakes
· The EU had a much rosier forecast, citing a rise in tourism, lower dependency on trade, and government based infrastructure projects (that are paid in money taken from bond offerings and paid to construction workers at far greater than average Eurozone wages)
I have sourced the accuracy of both the IMF and the EU's forecasting in "Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse!. If your well being relies on this stuff, you would be well served to subscribe to our research services. Let's take a visual perusal of what I am talking about in regards to Grecian GDP, the IMF and the EU.
The EU/EC has proven to be no better, and if anything is arguably worse!
Here are our considerably more realistic forecasts (premiums content: Greece Public Finances Projections).
The EU Has Rescued Greece From the Bond Vigilantes,,, April Fools!!!
On March 26, EU endorsed the proposal of extending aid to Greece (in case it faces shortage of funds to meet the refinancing and new debt requirements) wherein each euro nation would provide loans to Greece at bend over market rates based on its stake in the European Central Bank. EU would provide more than half the loans and the IMF would provide the rest. The official estimates for the size of the planned assistance have not been disclosed since it would depend on Greece's actual need. Erik Nielsen, Chief European Economist at GS, estimates Greece will need an 18-month package of as much as €25 billion, with the IMF providing about €10 billion of that. The French newspaper Le Figaro reports that German officials are estimating the total assistance of nearly €22 billion.
Overbanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe
Ireland has finally admitted the horrendous condition of its banking system. I actually give the government kudos for this, and await the moment when the US, China and the UK come forth with such frankness. That being said, things are a mess, I have forewarned of this mess for some time now.First, the lastest from Bloomberg: Ireland's Banks Will Need $43 Billion in Capital After `Appalling' Lending
March 31 (Bloomberg) -- Ireland's banks need $43 billion in new capital after "appalling" lending decisions left the country's financial system on the brink of collapse. The fund-raising requirement was announced after the National Asset Management Agency said it will apply an average discount of 47 percent on the first block of loans it is buying from lenders as part of a plan to revive the financial system. The central bank set new capital buffers for Allied Irish Banks Plc and Bank of Ireland Plc and gave them 30 days to say how they will raise the funds.
"Our worst fears have been surpassed," Finance Minister Brian Lenihan said in the parliament in Dublin yesterday. "Irish banking made appalling lending decisions that will cost the taxpayer dearly for years to come."
Dublin-based Allied Irish needs to raise 7.4 billion euros to meet the capital targets, while cross-town rival Bank of Ireland will need 2.66 billion euros. Anglo Irish Bank Corp., nationalized last year, may need as much 18.3 billion euros. Customer-owned lenders Irish Nationwide and EBS will need 2.6 billion euros and 875 million euros, respectively.
'Truly Shocking'
The asset agency aims to cleanse banks of toxic loans, the legacy of plunging real-estate prices and the country's deepest recession. In all, it will buy loans with a book value of 80 billion euros ($107 billion), about half the size of the economy. Lenihan said the information from NAMA on the banks was "truly shocking."
Capital Target
Lenders must have an 8 percent core Tier 1 capital ratio, a key measure of financial strength, by the end of the year, according to the regulator. The equity core Tier 1 capital must increase to 7 percent.
AIB's equity core tier 1 ratio stood at 5 percent at the end of 2009 and Bank of Ireland's at 5.3 percent. Those ratios exclude a government investment of 3.5 billion euros in each bank, made at the start of 2009.
Credit-default swaps insuring Allied Irish Bank's debt against default fell 6.5 basis points to 195.5, according to CMA DataVision prices at 8:45 a.m. Contracts protecting Bank of Ireland's debt fell 7 basis points to 191 and swaps linked to Anglo Irish Bank's bonds were down 3.5 basis points at 347.5.
Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a company fail to adhere to its debt agreements. A decline signals improving perceptions of credit quality.
State Aid
If Allied Irish can't raise enough funds privately, the state will step in with aid, Lenihan said. It is "probable" the government will then end up with a majority stake, he said.
Ireland may not be able to afford to pump more money into the banks. The budget deficit widened to 11.7 percent of gross domestic product last year, almost four times the European Union limit, and the government spent the past year trying to convince investors the state is in control of its finances.
The premium investors charge to hold Irish 10-year debt over the German equivalent was at 139 basis points today compared with 284 basis points in March 2009, a 16-year high.
Ireland's debt agency said it doesn't envisage additional borrowing this year related to the bank recapitalization. It is sticking to its 2010 bond issuance forecast of about 20 billion euros, head of funding Oliver Whelan said in an interview.
"The bank losses, awful as they are, represent a one-off hit. It's water under the bridge," said Ciaran O'Hagan, a Paris-based fixed-income strategist at Societe Generale SA. [What is the logic behind this statement? Has the real estate market started increasing in value? Are the banks credits now increasing in quality? Will the stringent austerity plans of the government create an inflationary environment in lieu of a deflationary one for the bank's customer's assets???] "What's of more concern for investors in government bonds is the budget deficit. Slashing the chronic overspending and raising taxation by the Irish state is vital." [This is a circular argument. If the government raises taxes significantly in a weak economic environment, it will put pressure on the bank's lending consituents and the economy in general, presaging a possible furthering of bank losses!]
Juckes Says Outlook `Frightening'
March 31 (Bloomberg) -- Kit Juckes, chief economist at ECU Group Plc, talks with Bloomberg's Linzie Janis about the outlook for Ireland's banks after the government set out plans to revive the country's financial system.
Now, notice how prescient my post of several months ago was, The Coming Pan-European Sovereign Debt Crisis:
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Awards & Grants
Throughout the year, National PTA offers awards or grants to honor or support PTAs as they: engage families, support student success, improve the health and safety of students and families, increase access to arts education or celebrate advocacy and diversity.
PTA Life Achievement Awards
Give the award of a lifetime. Give the National PTA Life Achievement Award—the highest honor from the nation's largest child advocacy organization—to the person who daily lives out his or her commitment to children. Complete the Form or call (800) 307-4782 to submit your request.
Mary Lou Anderson Grants
The National PTA Mary Lou Anderson Reflections Arts Enhancement Grant provides up to $1,000 in matching funds to support local PTA arts projects within their school community. Funded projects will increase access to learning opportunities in the literary, media, visual and/or performing arts for at-risk or underserved audiences. Arts projects must actively engage families and community partners to strengthen family-school partnerships. Deadline for 2016 applications has passed. Applicants will receive award status notification on March 11.


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Running back Adrian Peterson started in the Vikings' season opener against the Jacksonville Jaguars on Sunday just over nine months after tearing two ligaments in his left knee.
Peterson rushed for 84 yards and two touchdowns on 17 carries in Minnesota's 26-23 overtime victory.
He scored his first touchdown of the season just before halftime, rushing the ball into the end zone from 3 yards out. He scored another touchdown in the third quarter, this time on a 2-yard run.
"My legs are loose," Peterson said. "Seriously, I'm feeling really good. I'm ready to carry the load."
The Vikings had announced that Peterson would start, posting on their twitter page: "He's back! Adrian Peterson is active AND will start today for the #Vikings."
Peterson was listed as questionable to play the Jaguars on the injury report, which by definition gave him a 50-50 chance. The 27-year-old two-time All-Pro pick is recovering from reconstructive surgery to repair two torn ligaments in his left knee last Christmas Eve. He's had no setbacks during his rehabilitation.
Information from The Associated Press was used in this report.


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Forms Jobs
Meet the Winston-Salem Recreation and Parks Leisure Team. Below is a brief description of responsibilities and an e-mail address that allows you to contact each person directly. Please read the job descriptions to aid in delivering your comments, questions, and concerns to the appropriate person.
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Last night's How I Met Your Mother was supposed to explode but instead it imploded. "Vesuvius" was supposed to rely on Barney's suit's and Lily's fights for fireworks. Instead, a tiny inkling blew up the entire episode. Prepare yourselves: This isn't a happy thought.
The Players:
- Director: Pamela Fryman
- Writers: Barbra Adler
- Cast: Josh Radnor, Jason Segel, Cobie Smulders, Neil Patrick Harris, Alyson Hannigan, Cristin Milioti, Bob Saget, Roger Bart, Chris Kattan, Lucy Hale, Jon Heder, Barbara Nathanson, Tracey Ullman
Episode Title: "Vesuvius"
Future Ted tells The Mother the story of Robin and Lily's wedding day fight while Present Day Ted helps Barney pick a suit for the ceremony.
The Good:
- Boned: Barney is the perfect man to highlight the plight of the groom's wedding day rebuff. No one stands when the most important man enters the room; there is no exaggerated stroll down the aisle. Though that will never change, let's pay homage to Barney's genuine shock and hilarious disappointment. The only thing better was watching Ted scream, "Say yes to the suit," into a sobbing Barney's face. Your suits will always get a standing ovation from us Mr. Stinson.
- Momma Scherbatsky: The Mother was right; there was no way Genevieve Scherbatsky was going to miss her daughter's wedding. Next week will shed some light on the very little we know about the Scherbatsky matriarch. The good news is with Tracy Ullman filling the role, whatever they have planned will be worth the wait.
The So-So:
- No Can I Do's-ville Baby Doll: If Robin and Lily are best friends shouldn't Lily have been prepared for Robin's aloof attitude? Making Lily so crazed to see Robin loose it on the day of her wedding cheapened Lily's character. Marshall shouldn't have to remind Lily that everyone experiences things a different way. The argument could be made that Lily was so blinded with grief over when the gang would be together again that her judgment was clouded. The prospect of Ted not being a part of the group is upsetting even though the show will be over at the end of March. When it comes down to it, Lily jumping into her wedding dress to provoke an emotional reaction out of Robin just wasn't funny. Watching Robin and Lucy Hale call each other Scherbatsky and say, "hosier," in full on Canadian was light-years better.
The Bad:
- Mrs. Susan Tup: This is the reason why a show like this has to come to a close. Suits have been the bread and butter of the series since its inception. For gosh sakes, the suit song from season five is practically an institution. However, all those amazing jokes and gags left a chasm for last night's episode. Combing through Barney's racks of suits to find one without the stain of a woman of the night on it is the kind of fruitless task we've lived before. So it's not exactly like the many other suit fueled stories we've been through, but it feels way to familiar to be funny.
- Where's the Poo: So what's up with Ted and The Mother? Something very ominous was alluded to throughout the night, but it's not exactly clear what it was. When Ted first began his tale at the Farhampton Inn, The Mother thanked him for bringing them there. That seemed a little odd considering all this season's flash forwards make it clear that the Mosby's frequently visit the place of their first meeting. Shortly after, the two traded nostalgic stories and celebrated making it to old married couple status even though they are obviously still young. Next, The Mother worried that Ted would remain a man trapped in his stories right before Ted got chocked up at the thought of a mother missing her daughter's wedding. The final nail in the coffin was their warm embrace over the idea to let certain things go unspoken and enjoy time together. We've got a number of theories, but it all points to The Mother dying young.
"Vesuvius" was less of a volcano and more of a minefield. There were a few humorless duds buried in the ground, and a slightly surprising belated arrival. The real explosion was the new theory burrowing in our brains: Is the Mother dying? Sure Ted could be getting chocked up because his mother passes away, but it's more likely that the love of his life is ill. That would explain why Ted takes so much time and care in telling his kids the story of how he met their mom—because she's not around to help tell it. For once we're hoping we're wrong. Some things are just too heartbreaking to be true.
Rating: 6/10
How I Met Your Mother airs Mondays at 8 p.m. on CBS.
What did you think of the episode?


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A Model of Exchange-Rate-Based Stabilization for Turkey
Ozlem Aytac
Indiana University Bloomington - Department of Economics
January 16, 2008
CAEPR Working Paper No. 2008-001
The literature on the exchange-rate-based stabilization has focused almost exclusively in Latin America. Many other countries however, such as Egypt, Lebanon and Turkey; have undertaken this sort of programs in the last 10-15 years. I depart from the existing literature by developing a model specifically for the 2000-2001 heterodox exchange-rate-based stabilization program in Turkey: When the government lowers the rate of crawl, the rate of domestic credit creation is set equal to the lower rate of crawl, bond sales finance the fiscal deficit, and money growth occurs only through capital inflows. Without appealing to high intertemporal elasticity of substitution, the model does very well at replicating the magnitude of the current account deficit (5.5% of GDP predicted vs. 5% of GNP actual), the peak in total consumption spending (10.08% predicted vs. 9.6% actual), average growth rate in total consumption spending (6.7% predicted vs. 6% actual), the peak in durables spending (37.06% predicted vs. 39.5% actual), and the average growth rate in durables spending (24% predicted vs. 27.4% actual) observed in Turkey following the inception of the program.
Number of Pages in PDF File: 53
Keywords: inflation, exchange-rate-based stabilization, durables
JEL Classification: E31, E63, F41
Date posted: January 22, 2008
Suggested Citation
Contact Information


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UJA Women's Philanthropy
Annual Luncheon
Marlene Gilbert, Randye Kwait, Bryanna Kallman and Debbie Rosmarin
The UJA women's philanthropy annual luncheon celebrated the group's year of activities. Cochairs Kim Kassin, Sheila Neilinger, Kelli Roth and Carolyn Surgent, UJA vice president welcomed the crowd to the luncheon, held at the Milbook Club. This year, guest speaker Alina Spaulding, originally from the Soviet Union and now head of Akiva Day School in Atlanta, received a standing ovation when she shared her personal journey of rescue and survival. For more than fifty years, UJA Greenwich has served as a humanitarian and philanthropic organization for the Greenwich Jewish community, providing funds for food, clothing, counseling and shelter for those in need locally and around the world. ujafedgreenwich.org


text: James Bond : all the stars in London for the premiere of Quantum of solace Show biz London, United Kingdom - 29 October 2008 The stars turn out on the red carpet for the world premiere of the latest James Bond film "Quantum of Solace" on 29th October 2008 in London's Leicester Square: Gemma Arterton, 22nd James Bond girl Olga Kurylenko, Prince Harry talking to injured serviceman, top-model Elle MacPherson, producer Michael Wilson, and Barbara Broccoli. Vote Vote Tweet Report Related images Elle McPherson and Prince Williams at the world premiere of... By davidthompson Share The Royale World Premiere of Quantum of Solace, the new James Bond movie opened at the Odeon in Leicester Square last night, as... Read story London: James Bond Aston Martin car at Canary Wharf Motorexpo By Velar_Grant Share James Bond's famous Aston Martin was put on display at the 19th annual Canary Wharf Motorexpo on June 9, 2014 in London. The... Read story Richard Kiel, James Bond villain 'Jaws' dies aged 74 By richgold Share The US actor Richard Kiel has died in a hospital in Fresno, California USA aged 74. The actor was best loved for the 007... Read story Behind-the-scenes of the new James Bond movie, "Skyfall" in London By Sharmag Share Actors and staff were filming the latest James Bond film, "Skyfall" on April 1, 2012 at London, England's Whitehall. Pictured... Read story Comments (1) Write your comment * Display name * Please use only letters, numbers or '_'. Email * Please provide your email address. Human check: * Have an account? Log in Send Cancel mattintouch - 11/3/2008 9:25 AM Report Reply Like (0) Wow! Gemma Arterton is stunning in her purple dress! Great pics Ollie, share some more :) Show more Show more


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I'm hosting the Peter Schiff Show all this week, 10am-12pm ET. Listen live during showtime!
I'm hosting the Peter Schiff Show all this week, 10am-12pm ET. Listen live during showtime!
Good job today! Looking forward to the rest of the week!
I kept tellin' him he's a born talk radio host!! Woodsian dittoheads in our future??
Woods auditory is like velouté sauce.
I heard that Bob Murphy and Peter Schiff are having fun without you :P
Tom Woods is the smartest guy in the room.
Senior Judicial Analyst, FOX News Channel
Tom Woods is one of the libertarian movement's brightest and most prolific scholars. I strongly recommend his work.
12-term U.S. congressman
Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy.
New York Times bestselling author of Crash Proof CEO, Euro Pacific Capital
During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods.
former Member of Congress


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I'm thinking about a suggestion to improve the website (I already love it though, but there's still something I miss in Curltalk).
When I read some topics, people react on each other and sometimes want to ask something to a person that just reacted.
Wouldn't it be nice to be able to get a notification if someone mentions your nickname?
(I'm referring to something like Facebook has, where when you type someone's name it highlights the name in blue and the person gets a notification that his/her name is mentioned).
Would that be possible here as well?


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Last Saturday a controversial plebiscite took place in Ecuador. It consisted of two parts: five questions regarding press regulation, employees' enrollment in the state pension system, unjustified enrichment, bullfighting, and gambling. The other five questions attempted to reform the three-year-old Ecuadorean Constitution in aspects such as justice authority and preventive detention.
The $30 million plebiscite itself didn't take place without convolution. After an early count, the exit poll elaborated by Santiago Perez, the pollster hired by the government, stated the "triumph" of the majority supporting the regime. Indeed, the official newspaper's headlines indicated the victory of the referendum by 62%.[1] Even Venezuela's President Hugo Chávez, President Correa's close ally, congratulated him for his "great victory".[2]
While the officialism celebrated, the National Election Council undertook the official vote count. Soon the President was informed that the error in the exit poll had been of around 19,5% and the victory might not has been as absolute as he was told by his contracted pollster.[3] The victory margin appeared much lower than expected, and thus the celebration ended up in worries and uncertainties.
Forty-eight hours after de polls closed, the Council had only counted 41% of the total votes but the margins between "yes" and "no" are indeed very small, with some questions barely receiving support from half the voters. Although the small margins, the government declares victory and announces that it has its plan to apply the plebiscite results immediately.[4]
Two days later the balance of the Ecuadorean referendum was $30 million less in treasury, a divided nation, increasing doubt on where the country will stand, and multiplying uncertainty for the future. After this referendum, President Correa may have more power than before, but this election probably shows that the unconditional support he used to have is decreasing as his power increases.
[2] Diario Expreso. "Chávez saluda "gran vitoria" de Correa en referéndo de Ecuador". May 9th, 2011
[3] El Comercio. El "exit poll" de Pérez falló en un 19,5%." May 9th, 2011
[4] El Universo. "Presidente dice que tiene listo su plan para aplicar consulta". May 8th, 2011


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Profile of Matharoo Associates, headquartered in India. Seven projects submitted by Matharoo Associates have been published on Architecture News Plus (ANP).
Gurjit Singh Matharoo was born in Ajmer, Rajasthan, in 1966. In 1992 after a brief stint in Ticino in Switzerland he established Matharoo Associates in Ahmedabad and also began teaching at the Centre for Environment, Planning and Technology.
Throughout its relatively short life Matharoo Associates has stood out due to its innovative concepts, out of the box thinking and high quality construction and execution in a third world scenario. Gurjit Singh Matharoo has lectured internationally and been the recipient of multiple international design awards. The recent ones being the Architectural review award emerging architecture award in 2009 and The AR house 2010 which celebrates the best house of the year.
At Matharoo Associates we believe in a clear emphasis of functionality and services, in exercising an extreme restraint whenever designing and using natural exposed materials where sunlight becomes the only embellishment as it varies and changes through the day and across the seasons. Our buildings are designed to be discovered; as one moves through them they unfold around one's body to reveal their secrets and meanings over time and over spatial layers
Our office undertakes design work ranging from architecture, structural design and master-planning to product and automobile design, so despite our dedication to clarity we work in many different ways. We see all design disciplines as one, to remove boundaries and work with a fully combined approach. Interdisciplinary practice has become an important dimension of how we make all our designs.


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Fort McDowell Yavapai Nation Energy Efficiency Audits on Government Buildings
CX(s) Applied: B5.1, A9
Date: 11/23/2009
Location(s): Arizona
Office(s): Energy Efficiency and Renewable Energy
Energy Efficiency and Conservation Block Grant Program. The tribe proposes to utilize technical consulting services to conduct energy efficiency audits on 13 tribal buildings (tribal headquarters, public safety complex (police, fire, courts), health center school, recreation center, library, environmental/legal, planning/economic development/engineering, day care center, elder center). Tribal staff will accompany a technical consultant to learn the procedures associated with audits.


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Recipe: Paleo Apple & Strawberry Crumble
When I was a little girl I would often come home from school to smell some sort of fruit crumble pie baking in the oven. My grandmother made the most delicious fruit pies – plums, blackberries, apples, peaches – she would use whatever was in season and the aromas would fill our home as well as our neighbours'. This crumble recipe is paleo friendly as it contains no grains, no refined sugars or dairy but as many of the ingredients still contain natural sugars (dates, fruit, coconut) and carbs, I would recommend saving it for special occasions or weekends.
Cooking notes: I used small individual ramekins but you can easily use one baking dish and serve it as a whole pie.
For crumble
- 1 cup macadamia nuts
- 4 dates
- 1 cup coconut flour
- 1/2 cup shredded coconut
- 3 1/2 tbsp coconut oil
For filling
- 15 strawberries, diced
- 3 1/2 large Pink Lady or Granny Smith apples, peeled, cored and cut into cubes
- 1 vanilla bean or 1 tbsp vanilla extract
- juice from 1 small to medium orange
- A pinch of nutmeg powder
- A pinch of cinnamon powder
- 1 tbsp ghee
- Heat ghee in a medium saucepan. Cut vanilla pod in half going lengthways and scoop some of the seeds out. Add all filling ingredients, stir and bring to boil. Turn the heat to low and simmer for 20-25 minutes or until apples have softened and the mix has thickened and caramelized slightly.
- Half way through cooking the apple and strawberries, pre-heat oven on 150C.
- Using a food processor, grind macadamia nuts and dates into crumbs. Add coconut flour and coconut oil and process into moist crumbs. Finally add shredded coconut and blend together until well incorporated. Set aside.
- Divide apple and strawberry filling between four small baking dishes and fill with 1 ½ centimeter thick layer of crumble mixture. Bake in the oven, on the middle shelf, for 15-20 minutes or until brown crust forms on top.
- Serve with fresh strawberries and some coconut cream or as is.
Preparation time: 15 minutes
Cooking time: 40 minutes
Number of servings: 3-4


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UE Music Management Association
The University of Evansville Music Management Association (UEMMA) is a student organization to help promote all aspects of music management. Membership is open to any full-time or part-time music student.
The purpose of the organization is to provide unique opportunities and experiences outside of the classroom in order to enhance and compliment their music management studies. Bi-weekly meetings are held to host guest speakers, discuss upcoming projects, and to plan for professional conference trips.
UEMMA attends the Winter NAMM Show every year in Anaheim California. Each year students apply for and receive partial scholarships to attend this international conference associated with the music products industry. Additionally, UEMMA hosts an annual fundraising event each year (Swing Dance Fundraiser) in conjunction with the UE Jazz Ensemble. Profits from this fundraiser help to defray expenses for guest speakers and conference attendance. UEMMA also accomplishes projects within the Department of Music. Most recently they produced a YouTube video promoting our department.
2013-2014 UEMMA Executive Board
- President: Kathryn Von Der Heide
- Vice President: Brittany Smith
- Secretary/Treasurer: Lucas Pate
- Faculty Mentor: Dr. Timothy Zifer
Music Management
Related Links
Office Phone:
Office E-mail:
Office Location:
Room 133, Krannert Hall


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This Week In Celebrity Fashion: Uma Thurman, Mena Suvari & More
Uma Thurman showed up to the 2011 Golden Heart Awards in New York City yesterday wearing a darling little red and white dress. We love Uma's subtle style for the event.
She's not the only star who stepped out in style this week. Check out the slideshow below:
You may like
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Principle 1 - Grant recipients will base their programs on a thorough assessment of objective data about the drug and violence problems in the schools and communities served.
Principle 2 - Grant recipients will, with the assistance of a local or regional advisory council, which includes community representative, establish a set of measurable goals and objectives, and design their activities to meet those goals and objectives.
Principle 3 - Grant recipients will design and implement their activities based on research or evaluation that provides evidence that the strategies used prevent or reduce drug use, violence, or disruptive behavior.
Principle 4 - Grant recipients will evaluate their programs periodically to assess their progress toward achieving their goals and objectives ans use their evaluation results to refine, improve, and strengthen their program and to refine their goals and objectives as appropriate.
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BOL provides a weekly report card for the Alabama football team during the 2006 season. Here's a look at how we graded the Crimson Tide in it's 38-3 win over Florida International on Saturday after...
Grading the Tide: Alabama 38, FIU 3
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NHL star invites former Caronport coach to his farewell game
Lloyd Friesen vividly remembers the first time he saw Ryan Smyth play hockey.
© THE CANADIAN PRESS/Jason Franson
Edmonton Oilers' Ryan Smyth waves to the crowd after playing his last game in the NHL Saturday.
Smyth's former Midget AA coach isn't going to forget the last time he watched Smyth play either.
Friesen was in the Smyth family box Saturday night at Rexall Place as the Edmonton Oilers legend played his 1,270th — and final — National Hockey League game.
"Ryan called me earlier in the week and indicated that that was probably going to happen and invited me to come and watch the game," said Friesen who coached Smyth in Caronport during the 1991-92 season. "It was a nice gesture on his part. He's a very loyal individual. He has a lot of respect for people around him.
"It was a special occasion. He's kept in touch over the years and we've developed a great friendship."
Smyth's parents Jim and Dixie, along with his wife Stacey and their children were in the same box as Friesen and some other family friends.
It was an emotional night for Smyth who fought back tears on the bench before taking his final shift. The fans in Edmonton roared their appreciation for him every time he was on the ice.
"It was emotionally for me too," said Friesen. "The emotional part of it was the respect that the fans had for him. The way they responded to Ryan throughout the night — just from the get-go when he came out for warm-ups — they were pulling for him all night. They were there to help him finish with a good feeling."
Ryan's older brother Kevin Smyth played in Caronport for two seasons. Ryan came out to visit from his hometown of Banff, Alta. and Friesen knew he was a special player.
"He came to visit Kevin and got on the ice with us at practice and I looked at the kid and thought 'oh my goodness we have to get him back here,'" said Friesen.
Both Smyth brothers would go on to play in Caronport before joining the Moose Jaw Warriors.
"(The talent) was obvious with both of them. Kevin's skill-set was higher than Ryan's, but Ryan was able to cover a lot of that up with his work ethic and his passion for the game," said Friesen who is currently the Sask. Midget AAA Hockey League president.
Sparrow Gardens in Caronport was a rink so cold that water bottles would turn to ice on the bench, but there was nowhere Smyth would rather be.
"He was always on the ice," recalled Friesen. "His work ethic on the ice was the same as it was academically. He was determined to do well in both areas. Whenever he had time, he put his skates on and was on the ice. You never really saw him anywhere but on the ice or with his books."
Friesen said Smyth arrived with a vision of what he wanted out of his career on the drive to achieve it.
"It was apparent right away. He and I chatted right away and he was passionate about reaching his goal and his goal wasn't only to make the NHL, but his desire at that time was to play for the Edmonton Oilers," said Friesen.
Smyth had served as a stick boy in Banff for the 1987 Canada Cup team that was loaded with Oilers. He had wanted to join their ranks ever since.
Not only did Smyth play parts of 15 seasons with the Oilers, but 'Captain Canada' also represented his country at eight world championships, a pair of Olympics, a World Cup and a world juniors. He has an Olympic gold from 2002, a world junior title from 1995 plus world championships in 2003 and 2004.
Smyth also played for Colorado, Los Angeles and the New York Islanders. He amassed 296 goals and 631 points over his NHL career.
Both Smyth brothers played three seasons with the Warriors including one season as teammates.
Kevin Smyth ended up with 242 points in 201 career WHL regular season games with the Warriors. He played 58 NHL games with the Hartford Whalers by the age of 22 before an eye injury curtailed his career.
Ryan Smyth scored 55 goals and had 116 points in 35 games with Caronport as a 15-year-old.
The next season he joined the Warriors. He had 50 goals and 105 points in 72 games in 1993-94 before the Oilers made him the sixth overall pick in the 1994 NHL Entry Draft. Smyth finished his WHL career with 224 points in 188 career regular season games.


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Introduction: Prophylactic taping is commonly used to prevent ankle injuries during sports. However, unnatural constraint of the ankle joint may increase the risk of injury to proximal joints such as the knee. The association between ankle taping and knee joint loading during open sporting tasks has not been quantified. This research aimed to measure changes in knee and ankle kinetics and kinematics during dynamic athletic activities undertaken with and without ankle taping.
Methods: A kinematic and inverse dynamics model was used to determine ankle and knee joint motion and loading in 22 healthy male participants undertaking running and sidestepping tasks. Both tasks were randomized to planned and unplanned conditions and undertaken with and without the use of ankle tape.
Results: At the knee, peak internal rotation moments (P < 0.001) and peak varus moments (P < 0.05) were significantly reduced during all running and sidestepping trials (planned and unplanned) when undertaken with ankle tape. Internal rotation impulse (P < 0.001) was reduced for sidestepping tasks. Varus impulse during unplanned sidestepping maneuvers (P = 0.04) was reduced with the use of ankle tape. However, there was a trend toward increased valgus moments and impulse for planned sidestepping trials undertaken with ankle tape (P = 0.056). Taping reduced the range of motion at the ankle in all three planes (P < 0.05). Peak inversion (P < 0.001) was reduced for running trials only. Average eversion and peak dorsiflexion moments were significantly reduced in sidestepping tasks by use of taping.
Conclusions: By limiting motion at the ankle, taping increased mechanical stability at this joint. Ankle taping also provided protective benefits to the knee via reduced internal rotation moments and varus impulses during both planned and unplanned maneuvers. Medial collateral and anterior cruciate ligament injuries may, however, occur through increased valgus impulse during sidestepping undertaken with ankle tape.
©2010The American College of Sports Medicine
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Alfred Heber Hutty
The Life and Art of Alfred Hutty Woodstock to Charleston
Edited by Sara C. Arnold and Stephen G. Hoffius
Foreword by Angela D. Mack
With a Catalog of Known Prints by Edith Howle
Buy Online
Alfred Heber Hutty (1877 – 1954) was born in Grand Haven, Michigan. He showed a talent for draftsmanship at a young age and was given a scholarship to study stained glass design at the KansasCity School of Fine Arts. After marriage and the birth of his only child, he moved to St. Louis, where he met his mentor Birge Harrison. Hutty followed Harrison to the burgeoning art colony in Woodstock, New York in 1908 and studied painting under Harrison's tutelage at the New York Art Students League Summer School. To supplement his income, Hutty temporarily relocated to the New York area where he gained employment in stained glass window design at Tiffany's Studios for eight years, until the outbreak of World War I. While in New York, Hutty studied anatomy and life drawing under George Bridgman, and impressionist landscape painting with Frank Vincent DuMond at the Art Student's League. Later, Hutty would return to Woodstock, having purchased a farm with panoramic views of the Catskills, aptly named 'Broadview'. He devoted the first decade of his career at Woodstock painting impressionistic landscapes.
At the end of World War I, Hutty applied for a position to direct an art school in Charleston, South Carolina. He was the first professional director of the Carolina Art Association Art School. The CAA managed the Gibbes Art Gallery that would later become the Gibbes Museum of Art. During his first season in Charleston, Hutty was encouraged to learn etching and did so when he returned to Woodstock in the summer of 1920. A talented draftsman, Hutty's hand captured the quite charm of Charleston façades and the landscape around Charleston and Woodstock. In the years that followed he was praised for his etchings, especially those of Charleston and trees, two of his most beloved subjects. From 1920 onward, Alfred Hutty and his wife Bessie shared their time between the two art colonies. Hutty was one of the principle artists of the Charleston Renaissance along with Elizabeth O'Neill Verner, Alice Ravenel Huger Smith and Anna Heyward Taylor. His evocative paintings, drawings, etchings and drypoints have earned him the reputation of a master, and his work is exhibited in museums and private collections around the United States. He has been critically acclaimed and the subject many articles, books and solo museum exhibitions. Alfred Hutty died in 1954.
Alfred H. Hutty
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Economics Departments, Institutes and Research Centers in the World
Abteilung Volkswirtschaftslehre, insbesondere Finanzwissenschaft
Wirtschaftswissenschaftlichen Fakultät
Eberhard-Karls-Universität TübingenTranslation: Department of Economics (Public Economics)
Translation: School of Business and Economics
Translation: University of Tubingen
Location: Tübingen, Germany
Homepage: http://www.wiwi.uni-tuebingen.de/cms/lehrstuhl-homepages/home-goerke.html
This link seems to be broken. We welcome a better address.
Phone: ++49 7071 297 - 49 11
Fax: ++49 7071 29 55 90
Postal: Melanchthonstr. 30, D - 72074 Tübingen
Handle: RePEc:edi:futuede
Areas or Functions: Public Economics, Political Economy
Additional details:
People who have registered with RePEc and have claimed to be affiliated with this institution:Find all publications of all authors listed below conveniently compiled on IDEAS. Authors with publications are listed below with . We have lost contact with authors marked with ?, and they do not count towards the ranking of this institution.
People who have registered with RePEc and have received their terminal degree from this institution according to the RePEc genealogy:Find all publications of all alumni listed below conveniently compiled on IDEAS. Alumni with publications are listed below with .
- Mattes, Anselm (2010)
This listing is provided to you by EDIRC at the Economic Research Department, Federal Reserve Bank of St. Louis.
Please send additions and corrections to Christian Zimmermann.


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Clicking When Playing Music/Radio?
I picked up an 8GB Fuze at Best Buy last night, and immediately dumped eight Channels and about 500 songs from Rhapsody To Go onto it. Occasionally, when playing this content as well as the FM Radio, I'll experience a repetitive clicking noise instead of the expected audio. The clicking will continue for anywhere from one second to ten, then the song picks up again.
I think it's a buffering issue, but it's intermittent, rather than on each startup or song change. One weird thing is that sudden motion or slight torsion on the frame seems to set it off...
Anyone else gotten this problem?
Also, the FM Radio in the Fuze is kickass compared to the e200 or c200 series... I have all three, and the Fuze is the first one that is able to get signal in the big concrete block that I work in.
Update: Ok, wait a second. Are there two different versions of the Fuze? One with a hard drive, one with flash memory? I saw the mem chip on the teardown post, but Best Buy is listing my version of the device as a HD player. Why would Sandisk, a major player in flash memory, make a HD player? >.<;
Update v2: So, apparently compressing the casing just to the right of the scrollwheel temporarily fixes it... possibly a loose connection inside?
Last edited by ROMzombie; 03-28-2008 at 01:15 PM. Reason: added FM comment, observation, update
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Calif. county outsourcing paramedic calls
The Selma, Calif., City Council is moving forward with plans to outsource ambulance services to American Ambulance, which will result in at least three layoffs.
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20 YEARS at JGR: Robin
As we celebrate our 20th Anniversary, we want to take the time to recognize those who have been with us since the beginning! They have some great stories to tell and provide a fascinating glimpse into the history of our team. We hope you enjoy this series. Our third installment focuses on Robin, who has worn many hats at JGR:
What did you do before you came to Joe Gibbs Racing?
I studied engineering and mathematics in college. After college, I moved to Alaska to do short term mission work. I worked out in Kodiak, Alaska with juvenile delinquent Eskimo and Indians in a residential treatment center for two and a half years. I also taught fourth grade there for a year.
After that I had the chance to travel with the music ministry team. I traveled all around the world for about a year and a half. Then my parents said it was time to come home, settle down and use my college degree. I came back here to North Carolina. I grew up four miles from the race shop, so this is home to me. I taught school and worked construction for a general contractor, because I had some engineering in college. I did that for about three years. Then a British company bought them out, and the British company wanted to downsize and lay off. I was in the first group to get laid off, since I was the low man on the totem pole. I was actually unemployed for fourth months before I came to Joe Gibbs Racing.
How did you come to work at Joe Gibbs Racing?
There was a friend of a friend that knew they had an opening for a secretary. I came over to interview for the secretary's position, and it had just been filled. They did need a bookkeeper, and because of my math background they hired me to do the bookkeeping. The first year I was here I did the bookkeeping.
When was that?
It was September 1991. I think I was one of the fourth or fifth people hired. It has been fun to be here from the beginning.
What have been your responsibilities here at Joe Gibbs Racing over the years?
I was the bookkeeper for the first year, and then the secretary left. I said I would rather work with people than with numbers and figures, holed up in a room all day balancing the budget. I moved into that position, and it was kind of like a one girl office. I answered the phone, greeted people, ordered office supplies, did the race travel uniforms, NASCAR licenses, paperwork entries and all that stuff. I also helped the guys create worksheets and checklists for all of the cars. I did that for a few years. I did the paperwork for the company vehicles, DOT, OSHA and workers comp. Then we started the Ladies Night Out, which met once a month, and I was organizing that too. It grew and grew.
By 1995, we had Cindy Magnum and Fran Jordan, and the three of us shared all of the administrative duties. We kept growing and adding more people. I was also the event planner, if we had blood drives or fundraisers. We didn't have a crisis committee yet, if there was a need we just passed around the hat and took up money. We bought things and did things to help. We found a family on the coast after Hurricane Andrew and collected money and bought appliances for them. Anytime there was a situation where we wanted to help an employee or a member of a community, I was the point person. When we started the crisis committee, it helped a lot because that took care of that function.
Fran and I were the souvenir people. As we started selling souvenirs, Dave Alpern came to do the licensing and needed an assistant. I became the licensing assistant to help him with approvals and things like that. Dave was in charge of making them and getting them processed and approved. Fran and I sold the hats and t-shirts out of the drawers in the lobby as best as we could, because we didn't have a real gift shop yet.
In 1999, we bought Diamond Ridge Motorsports. We took on about 40-45 employees at once. I had been the HR person so to speak, so we were processing paper and doing things for 40-45 people at once. We were so busy. By 2000, JGR decided they needed a full time HR person and a full time assistant to the crew chiefs and engine builders. I could either stay in HR or do the racing side. I opted to go with the racing part, because I wanted to stay connected to the sport. I figured I could be doing HR for a corporation anywhere, but as the admin assistant, the duties would be unique to racing. We hired Gwen and she developed the HR program. I have probably done about every job that a female has done in being here.
Why do you choose to stay at JGR?
I love it here. There is nowhere else I would rather work. I cannot imagine being anywhere else, unless I was in full time missions. That would be the only thing that would take me away from Joe Gibbs Racing. I look at this as my mission field for the time being at least. My husband teaches school, and he is happy where he is. He is not ready to go anywhere. There is really nowhere else I would rather be.
What has been one of your biggest challenges?
I think just trying to keep my head above water with all the growth. We would add more to the company, and it would require more hours and more energy to get things going. I think in the late 90s we decided we would do our own dental reimbursements instead of doing dental insurance. Every Friday one of my jobs was to reconcile every ones dental bills, calculate what they should get back and go issue checks to everyone on Friday afternoon. That's just an example of trying to keep up with the growth and trying to maintain good customer service inside the company despite the number of people we have working here.
What moment will always remember from Joe Gibbs Racing?
Our very first win was the Daytona 500 with Dale Jarrett and that was a huge deal to be here. We were the dark horse and no one expected us to win our second year out. We celebrated for a week. We had flowers and gifts, but I don't think I appreciated it so much because it was the first win. Our next win was October a year later. We got a few things, but I didn't realize what a great accomplishment it was to win the 500. I would like to win that one again, because I know I would appreciate it so much more this time around. Also, Bobby Labonte's first cup win at Charlotte was good, because it was our first win with him and his first cup win ever. It was real exciting because it was a local race. I got to be there and go to victory lane. Of course the championships also, in 2000 with Bobby and 2002 and 2005 with Tony. I think those five things stick out in my mind as wow moments. Also getting to go to the Super Bowl in 1992. Joe Gibbs took all of us. Getting the chance to attend a Super Bowl was a once in a lifetime experience.
How have you seen Joe Gibbs Racing change over the past 20 years?
Our first shop was a leased warehouse about 17,000 square feet. Then a few years later we built a new shop that was designed by Jimmy, and it was 34,000 square feet. In 2000, we moved into this shop, which is 250,000 plus square feet and a state of the art facility. Physically, there has been growth going from this modest little rented space to where we are now. I just never imagined it would become what it is. Personally, it has changed by going from a group of 15 to 18 people who worked our guts out to a company of 450 plus people where each department is so specialized. Everybody is working so hard, but you can't honestly say you know everybody who works here any more. Before everybody knew everybody and it was really tight nit. Now within departments there is community and family.
How was the first year at Joe Gibbs Racing?
We worked our guts out. We had none of the government holidays. We got a couple days at Thanksgiving, a couple days at Christmas, and that was it. There were so few of us, and there was so much work to be done, especially starting with nothing. We bought two tractor-trailers of junk from Hendrick, and they sifted through it and built some cars from it. We hit the ground running. It was a challenge. Having not been in racing, I had no idea of the task before us, because it was all new to me.
I will never forget the first year, it was Memorial Day, and we had been working really hard. At that time the break truck came early in the mornings. We would stop and meet in the common area as our team meeting time. It was my time to get insurance forms signed, to give announcements and hand out uniforms. When the break truck came that was our time to stop and to communicate. We didn't have voicemail or anything like that, it was just word of mouth. We were coming up on Memorial Day and the guys asked if we were going to be off. I didn't know, and being naïve I thought we might get Memorial Day off, because that is a real holiday in the rest of the world. One of the guys told me to ask Jimmy. Well, Jimmy's nickname at that time was Mad Dog, and he earned every bit of that nickname. I asked him about Memorial Day, and he just turned around, slammed his fist on his desk, glared at me, and in some colorful language told me that I could pack my belongings and go work at the bank down the street if I wanted banking holidays. My mouth dropped open and my eyes welled. I just back out of his office, went out to the guys and told them that we were working.
To have seen him and his days of Mad Dog, and the team and everyone just working so hard to try to get the cars to the track to make Joe proud. It was fun. I have never worked any harder in my life then I did that first year, because we wanted so much to be successful, and to make the sponsors and owners proud. It was a lot of fun.
What has been your favorite part of working at Joe Gibbs Racing?
Definitely the people. I have been here for 20 years now. It is almost like my extended family. Just being able to come to work and feel like you are among friends is the best part for me. Also, it great to meet the fans who come in to talk. The people are really what have kept me in this business.
What memories will always bring a smile to your face?
It would be some of those funny stories like the Memorial Day question. I know the first year I was here, Joe Gibbs was still in DC coaching the Redskins, Don Meredith was in Florida with his ministry, and they would converge here one day a month and do business. Depending on how things were going and what the budget was looking like sometimes when the came to town they may be eliminating a position or having a talk with an employee they didn't think was performing like they should. Also the sponsors are giving us money and expecting great things, knowing that we are a fledgling team, and it was going to be hard to produce.
One of the times Joe was in town, he was pacing by my office, because he is a very driven person. Now it's a one girl office, so your answering the phones, greeting people, selling whatever souvenirs there are to sell, while working on travel arrangements and typing a report for Jimmy. So I am doing all this stuff, and he comes by and says, "Robin, get Lou Holtz on the phone," and he kept walking. I thought, "OK, who is Lou Holtz?" But I knew if I asked him then he will think I am stupid and would fire me for sure. My husband is a teacher, and I got on the phone real quiet and said, "I can't talk really loud, but who is Lou Holtz?" He tells me the coach for Notre Dame, and I hung up. I thought, "Ok, Where is Notre Dame?" I don't know where Notre Dame is, and this is before the Internet. I called my husband back and said, "One more question, where is Notre Dame." He tells me Indiana. The whole time Joe is pacing back and forth and asks "Have you got him on the phone yet?" Finally, I ask him if he has a number for him. Of course he did, but he is just so use to the admin assistant at the Redskins who could read his mind. I was just like, "Oh my gosh, I have to call somebody, and I don't know who he is, I don't know where he works, I don't know where he lives. How am I going to get a hold of him?" Now I just ask if he has a number, or to tell me who the person is. Then I was just so afraid of disappointing him or losing my job. I still get nervous thinking about that. Just wanting so much to please and do the job. I have learned now to just ask questions and not stress about it.
Another big thing for me was seeing the transition in Jimmy Makar from Mad Dog to the person he is now. That has been amazing to see how he has mellowed, how he became a Christian in the process, got married, had kids, and became a dad. The growth in him as a person has been really neat to watch from the sidelines. He has been the glue here and the backbone that brought the racing expertise and knowledge to this company. When it came to the decision to stay in HR and build that department or move into the racing side. I just valued my work and relationship with the guys too much to give that up. It has been fun to see the growth and be a part of it. At the same time I am humbled to know that I have been a part of it, I have experienced different jobs and responsibilities and have worked for the Gibbs family for so long. I always say if they get out of racing, then I will sell bananas on the side of the road, I will run the Gibbs fruit stand just to be a part and to give my gratitude back to family for allowing me to work at such a great place. It is hard to believe that it has been 20 years.