Author Archives: Jon Lowder

Battle of the Green Eyeshades

Winston-Salem is home to one large bank, BB&T.  We used to be home to Wachovia but then they went and "merged" with First Union and moved HQ to Charlotte, so we here in Winston have just one major bank that we call our own.  Thus it was with a little bit of hometown pride that I read in today’s paper that the bank’s head honcho sent a letter to the Congress critters detailing why he thinks the bailout stinks.

For John Allison, the high-risk rollers on Wall Street are getting
too much of the ear of Congress and having too much say in resolving
the financial nightmare that they created.

That’s why Allison, the chairman and chief executive of BB&T
Corp., submitted a 14-point letter Tuesday to all 535 members of
Congress with a simple message regarding the proposed $700 billion
bailout.

"There is no panic on Main Street and in sound financial
institutions," he wrote. "The problems are in high-risk financial
institutions and on Wall Street."

He said that it is important that "Congress hear from the well-run
financial institutions, as most of the concerns have been focused on
the problem companies. It is extremely important that the bailout not
damage well-run companies." Allison’s opinion is seconded by local
community-bank officials and community-bank trade groups.

"Community bankers did not create this financial crisis, but our
banks and communities are clearly feeling the impact," the Independent
Community Bankers of America said in a statement. "As the fundamental
drivers of local economies — we could be in a strong position to help
resolve this crisis."

Go get ’em Mr. Allison.

links for 2008-09-24

DIY Wi-Fi Signal Booster

Normally I would put an item like this in my "links" post, but I know so many people who have problems with their home wi-fi network that I thought it important enough for a solo post.  Here’s the deal: if you have a wire strainer you can use it to boost your wi-fi receiver’s power since it acts as a parabola that focuses the signal for your receiver.  Check out the post on Instructables for details on how they used a dumpling strainer to do the deed. They call it a "WokFi" which I like.

I’m willing to bet that any wire strainer will help, but since the dumpling strainer offers a wider surface than the average strainer it probably works better than a standard strainer.

Instructables also provides a DIY tip on how to extend the signal of your wireless router using tinfoil sails. Very cool.

links for 2008-09-23

Want to Dump Your Teenager? Move to Nebraska

In a true example of unintended consequences, Nebraska’s recently passed "safe haven" law that allows parents of unwanted infants to drop off their babies without any questions asked was written in such a way that parents (or other caregivers) of older children can also legally drop off their kids with no questions asked.  Of course the law was intended to address the problem of babies being left in dumpsters and such places by young parents who don’t want them, but so far the first three cases of people taking advantage of the law are caregivers of a 15-year old, a 13-year old and an 11-year old.

As the parent of a teenager I can tell you that there are occasions when you’re ready to throw in the towel, or at least throw your kid, but I can’t imagine literally just dropping them off somewhere and saying "adios" forever.  Of course I think we have great kids and we’ve never had real nasty issues to deal with, knock on wood, so I’m not going to sit in judgment of these people without knowing the whole story. However, it seems to me that if you make it easy for parents to give up then more than a few are going to do it.

Who knows, maybe it will end up being better for the kids.  After all, you need a license to drive but any fool with a hormone can be a parent.  That doesn’t mean I think this is a good thing, though, because in my mind people need to be held responsible for their actions and a parent being able to just abandon their child because things get tough just doesn’t seem right.  If nothing else the state should make sure the parents are held accountable for the child’s future care until the child is 18 through something like child support payments.  In addition maybe they could require counseling for the parents with the goal to move the children back into the parent’s home if appropriate.  Anything would be better than enabling abandonment with no questions or consequences.

Hopefully My Obit Will Read Something Like This

The obituaries that appear in the Winston-Salem Journal are a tad dry, and they tend to involve people walking with Jesus or entering God’s embrace.  They’re usually quite nice and heartfelt, but they really aren’t the kind of thing I envision for myself when the time comes.  Me, I want mine to read something like this one in the Casper Star Tribune (Wyoming) newspaper.  An excerpt for you:

Jim, who had tired of reading obituaries noting other’s courageous
battles with this or that disease, wanted it known that he lost his
battle. It was primarily as a result of being stubborn and not
following doctor’s orders or maybe for just living life a little too
hard for better than five decades…

He
was sadly deprived of his final wish, which was to be run over by a
beer truck on the way to the liquor store to buy booze for a date. True
to his personal style, he spent his final hours joking with medical
personnel, cussing and begging for narcotics and bargaining with God to
look over his loving dog, Biscuit, and his family.

He would like to thank all "his ladies" for putting up with him the last 30 years.

You’d have to change that last line from the plural "all his ladies" to the singular "his lady", but other than that I think it reads well.  Celeste really could be classified as "long suffering wife " but she’s a trooper and I think she’d appreciate the acknowledgment one way or another.

Why I Haven’t Been Wasting My Time the Last Four Years

For all my friends (Ted) who think I’ve been wasting my time the last four years writing this blog, I would like you to read the following from non-other than Tom Peters.

"If you’re not blogging, you’re an idiot," management uber-guruTom Peters
told hundreds of attendees at the Inc. 5000 conference yesterday. "No
single thing in the last 15 years has been more important to me
professionally than blogging… It’s changed my thinking, it’s changed
my outlook… it’s the best damn marketing tool and it’s free."

Tom’s blog is featured on his company home page.

Peters’ fellow presenter at the conference was Seth Godin, and he had this to say about blogging:

Fellow panelist Seth Godin
agreed: "What matters is the humility that comes from writing (a blog),
that forces you to describe why you did something. It doesn’t matter if
anyone is reading your blog. You’re doing it for yourself."

So there!

links for 2008-09-22

More Wolves

Fec quotes someone who, like me, doesn’t trust the government’s bailout.  I think he does a better job explaining why:

Hat tip to my excellent commenter, RBM.  From the comments at Sic Semper Tyrannis:

The DK writer who claims to know financial markets says there are
estimates of $400 billion in outstanding private offers for these
securities, but the institutions just don’t feel inclined to sell at a
loss right now, thank you very much. If that is true, the Paulson
scheme is just a scam, a pure and simple scam.

Again, we see the perverse incentives created by this completely
unregulated securities market regime. The paper is held by large
corporations that do not want to take a loss. So they use their crony
capitalist buddies in Washington to scare the public into a premature
bail out, before any bankruptcy, before anyone has to deal with any
losses. Nice work if you can get it.

And from what I read, the miserable incompetent and crook, Paulson
does not even feel inclined to discuss reforms right now (dire
sitation, don’t you know). Therefore, as best I can tell, the very
flawed and perversely functioning (IMH economist’s opinion, very
inefficient!) unregulated mortgage securities financiing system will
continue. Forget about whether this will happen again five years down
the road, how do we know this flawed system will not malfunction again
as the real asset values (housing prices) continue to fall towards a
realistic long run equilibrium. It is crazy, crooked and dangerous.
Unless rich crony welfare is the only objective.

I’m telling you, this thing stinks to high heaven.

Tasty!

It’s not often you hear a US presidential candidate described as "tasty", but then again this is the first time John McCain’s gotten the nod from his party.  The quote comes from a Brazilian model that McCain had a McFling with when he was a midshipman over 50 years ago:

While John McCain
attended his 50th Naval Academy reunion Saturday, a Brazilian beauty
fondly recalled the affair she had with the young "good kissing"
midshipman she met a half a century ago.

"He was tasty, loving
and romantic," says Maria Gracinda Teixeira de Jesus, 77, a former
beauty queen and dancer, of the young John McCain, whom she met in Rio de Janeiro in 1957.