Saturday, April 17, 2010

Sounds like it is now time to buy.......

The Global Real Estate Monitor reports:

"U.S. Industrial Property Review: Sector outperforms
other property types.

It may not be considered the sexiest or most exciting
property type, but industrial real estate’s stability and
growth opportunities in 2010 put the sector head and
shoulders above other types of commercial property."

Faithful readers will recognize that I believe insanity
ruled the investment real estate market from about
2003 to 2007. For various reasons, intelligent buyers
paid way, way too much for investment property.
Likewise, intelligent lenders lent way, way too much
on those same investment properties. Our current
economic situation is in large measure due to the
exessess in the real estate world.

I am hopeful that sanity has returned to the market
place and real estate will once again become the dull,
but steadily profitable, investment it once was.

You can read a longish article about smart people
predicting a rebound in investment in industrial
real estate here. All markets are local. I know there
are some very attractive opportunities available in
ours. Historic opportunities. It is hard to predict bottoms
and tops of markets. Even if we are not at the bottom, I
will be very surprised if we don't look back on this month
a year from now and say, 'sure wish we had bought that'.
The trick is being able to carry the investment until a
tenant comes along to rent it. Timing may not be
everything, but it is pretty important.

The article in Global Real Estate Monitior says:

“In my opinion, the biggest story for industrial is the
supply side – we’ve never seen so little industrial
construction,” Moore says, pointing out that occupier
design-build business has halted. “When demand
returns, the vacancy rate will come down very quickly.”

and this as well:

"Moore forecasts a further increase in vacancy early
this year, although at a much reduced rate, with
vacancies reaching a plateau as early as the second
quarter. With almost no construction coming onto the
market and forecasts for continued economic growth
over the next few quarters, occupancies should begin
to rise by midyear and show firmer fundamentals by
year-end, he says. Rental growth, however, is not
likely during 2010, and many markets may have to
wait until 2012 before rents start to rise."

It is my firm belief that investors make their money
when they buy. I think a whole bunch of money is
going to be made this year.

Thursday, April 15, 2010

The check is in the mail........

Happy April 15th!

"Patrick Henry should come back to see what taxation
with representation is like."
-Bob Phillips

"Those who want to reap the benefits of this great nation
must bear the fatigue of supporting it."
-Thomas Paine

"For every benefit you receive a tax is levied."
-Ralph Waldo Emerson

"The power to tax is the power to destroy."
-Chief Justice John Marshall

"America is a land of taxation that was founded to avoid
-Laurence J. Peter

"The Nation should have a tax system that looks like
someone designed it on purpose."
-William J. Simon

"I like to pay taxes, with them I buy civilization."
-Oliver Wendell Holmes, Jr.

"Tax Reform means; 'Don't tax you, don't tax me. Tax
that fellow behind the tree'."
-Russell B. Long

"People try to live within their income so they can afford
to pay taxes to a government that can't live within its
-Robert Half

"Taxes are our way of feeding the goose that lays the
golden eggs of freedom, democracy, and enterprise.
Someone says, 'Well, the goose eats too much'. That's
probably true. But better a fat goose than no goose
at all."
-Jim Rohn

"Friends and neighbors complain that taxes are indeed
very heavy, and if those laid on by the government were
the only ones we had to pay, we might more easily
discharge them; but we have many others, and much
more grievous to some of us. We are taxed twice as
much by our idleness. Three times a much by our pride,
and four times as much by our folly."
-Benjamin Franklin

"There is nothing wrong with the next generation that
becoming taxpayers won't cure."
-Dan Bennett

"The income tax has made more liars out of the American
People than golf has."
-Will Rogers

"The flat tax would be so simple, you could fill it out on
a post card. A post card that would say, in effect, having
a wonderful time; glad most of my money is here."
-Steve Forbes

"Whoever hopes a faultless tax to see, hopes what ne'er
was, is not, and ne'er shall be."
-Alexander Pope

"Intaxification: Euphoria at getting a refund from the
IRS, which lasts until you realize it was your money to
start with."

Happy Birthday Leonardo....

I have this handsome hardbound
Flights of the Mind, by Charles
Nicholl, in the biography bookcase.

I'd like to tell you that I have read it.

Maybe by next year.

Leonardo was born on April 15, 1452. The original
'renaissance man', Da Vinci was a painter, sculptor,
architect, musician, journaler, weapons designer, free
thinker, and a seeker of knowledge beyond compare.

Wednesday, April 14, 2010

Seth on 'The New American Dream'.......

The OLD way:

"Keep your head down
Follow Instructions
Show up on time
Work hard
Suck it up will be rewarded. As we've seen, that dream is

The NEW way:

"Be remarkable
Be generous
Create art
Make judgement calls
Connect people and ideas

....and we have no choice but to reward you."

This brief excerpt was brought to you by Linchpin.

If happiness is an 'inside job'........

Leo Babuta wrote Zen Habits: A Handbook for Life.
He has a whole bunch of lists, including this one on
"a true path to happiness".

1. Gratitude list- give thanks daily, hourly, or whenever
the dark side shows up.

2. Stay positive- thoughts, both positive and negative, arise
of their own accord. Choose to not dwell on the negative.
See #1.

3. Small pleasures- it is the little things that can bring
spontaneous joy, if I make room for the noticing of them.
Be like a child.

4. Kindness- one of my teachers says that the simple path
to enlightenment is 'to be loving and kind to all of life in all
of its expressions- including my own'.

5. Love- not the romantic kind, although that is pretty
much fun too, but the 'connecting, accepting, listening,
understanding, non-judgemental, forgiving' kind.

6. Be healthy- in eating, drinking, and taking care of my
body. The unconscious mind is always 'taking it
all in', be healthy in choosing 'it all'.

7. Meaning- get out of my own narrow paradigms
and spend time and energy on, or with, something
greater than myself.

8. Flow- limit the multi-tasking, focus on the person or
task at hand.

9. Know yourself- accept myself while I am at it.
We all have gifts, it is a lot more fun to utilize them than
it is to ignore them.

I think my sweetie would approve of these.....

Tuesday, April 13, 2010

Thomas Jefferson would be 267 years old today.

He is one of my favorite historical figures. It is hard to
know where to start. How about we just read this excerpt
from the Declaration of Independence:

"We hold these truths to be self-evident, that all men are
created equal, that they are endowed by their Creator
with certain unalienable Rights, that among these are Life,
Liberty and the pursuit of Happiness. — That to secure
these rights, Governments are instituted among Men,
deriving their just powers from the consent of the
governed, — That whenever any Form of Government
becomes destructive of these ends, it is the Right of the
People to alter or to abolish it, and to institute new
Government, laying its foundation on such principles
and organizing organizing its powers in such form, as to
them shall seem most likely to effect their Safety and

I know that Jefferson's draft was edited by a committee
(as committees go, this one was pretty special), but most
of the words and underlying philosophy are his.

You can read the full text of the Declaration here. It
is worth it.

A reminder....

thanks Hugh

I've always thought that Charles Darwin..... a bum rap from the misapplication of his (well, actually
Herbert Spencer's) phrase "survival of the fittest".

Alan Webber, in Rule #42 in his book Rules of Thumb,
nicely captures the thought:

"Survival of the fittest. Survival, not of the strongest or
richest, but of the most adaptable
. Survival of the species
with a gene pool diverse enough to keep it from becoming
more and more specialized to conditions less and less likely
to continue. A diverse gene pool could prevent a species- or
a company- from driving headlong into a dead-end future.

You could think of a diverse gene pool as an insurance
policy for change. And you could think of Charles Darwin
as the most important management guru for business

In case you couldn't tell, Rule #42 is "The Survival Of
The Fittest Is The Business Case For Diversity".

Monday, April 12, 2010

The home page of the Newark Catholic web site..

...always has an interesting quote. One from yesterday

"Never tell a young person that anything cannot be done.
God may have been waiting centuries for someone ignorant
enough of the impossible to do that very thing."
- John Andrew Holmes

It is no wonder that Tom Peters is so highly regarded...

"Enterprise* (*at its best):

An emotional, vital, innovative, joyful, creative,
entrepreneurial endeavor that maximizes individuals’
growth and elicits maximum concerted human potential
in the wholehearted service of others.

On the one hand, this definition is pretty high-stepping.
Idealistic beyond the realm of common sense. But examine it ...
one word at a time. Conjure up each word’s opposite, and consider
the possibilities......."

Download the entire essay here.

A poem for Monday......

The Contrariness of the Mad Farmer

I am done with apologies. If contrariness is my
inheritance and destiny, so be it. If it is my mission
to go in at exits and come out at entrances, so be it.
I have planted by the stars in defiance of the experts,
and tilled somewhat by incantation and by singing,
and reaped, as I knew, by luck and Heaven’s favor,
in spite of the best advice. If I have been caught
so often laughing at funerals, that was because
I knew the dead were already slipping away,
preparing a comeback, and can I help it?
And if at weddings I have gritted and gnashed
my teeth, it was because I knew where the bridegroom
had sunk his manhood, and knew it would not
be resurrected by a piece of cake. “Dance” they told me,
and I stood still, and while they stood
quiet in line at the gate of the Kingdom, I danced.
“Pray” they said, and I laughed, covering myself
in the earth’s brightnesses, and then stole off gray
into the midst of a revel, and prayed like an orphan.
When they said “I know that my Redeemer liveth,”
I told them “He’s dead.” And when they told me
“God is dead,” I answered “He goes fishing every day
in the Kentucky River. I see Him often.”
When they asked me would I like to contribute
I said no, and when they had collected
more than they needed, I gave them as much as I had.
When they asked me to join them I wouldn’t,
and then went off by myself and did more
than they would have asked. “Well, then” they said
“go and organize the International Brotherhood
of Contraries,” and I said “Did you finish killing
everybody who was against peace?” So be it.
Going against men, I have heard at times a deep harmony
thrumming in the mixture, and when they ask me what
I say I don’t know. It is not the only or the easiest
way to come to the truth. It is one way.

-Wendell Berry

Sunday, April 11, 2010

A Verse for Sunday....

Water flows continually into the Ocean
But the Ocean is never disturbed:
Desire flows into the mind of the seer
But he is never disturbed.
The seer knows peace:
The man who stirs up his own lusts
Can never know peace.
He knows peace who has forgotten desire.
He lives without craving:
Free from ego, free from pride.

Chapter II

That was then.......

The north corner of East Main and North Second as shown
in a postcard dated May 6, 1909. The building is identified
in the small print at the bottom of the card as the H & S
Building and Knights of Pythias Temple. I suspect that
H & S stands for Hibbert & Scott. My very first visit to
Newark occurred in the Spring of 1966. My sister was
interviewing at Denison. As a ninth grader I got to come
along for the ride. We ate dinner at the Carousel Restaurant
which was located in this building (I think- that was a long
time ago). It was prom night, so we dined with many
well dressed and corsaged teenagers. I was impressed.

This is now.....

First Federal Savings and Loan's main office
located at the north corner of East Main and North
Second Streets.