Sure Sign of a Market Top?

BEIJING (Reuters) - The names of three banks and the word "stocks" beat "sex" to become four of the most Googled words in China last year, according to a Google China list seen on Thursday.

“Business” Relationships

During my 35-year working career, I had just two jobs, the first for nearly six years and the last for thirty. Loyalty to the employer and visa a versa was more typical then. But, more importantly to me, was loyalty to the people, co-workers and vendors alike. In fact, these relationships frequently evolved into deep friendships. And, I think that made the difference between “having” to work and loving work.

I was also fortunate to find the profession that found me. I think of the idiosyncratic title of Anne Tyler’s novel, Accidental Tourist, as I was the accidental publisher. As many others of my generation, I married early. At 21 my first wife became pregnant, erasing plans of going to graduate school. Instead, it was off to work I had to go.

At the time my wife happened to have a summer job at Dell Publishing and her boss agreed to give me a one-hour education in the basics of production as a back door into the publishing industry. Knowing the difference between a point and a pica was invaluable lingo to get a job, but, finally, it was nothing more than my typing skills that prevailed in my job search. In 1964 I began work as a production assistant at the Johnson Reprint Corporation, a division of Academic Press.

Publishing became a continuous postgraduate education, providing an opportunity to work with brilliant authors, skilled vendors, and wonderful staff. And treating business vendors as partners – typesetters, printers, and distributors -- made for relationships that spanned an entire working career.

I was particularly fond of our overseas distribution partners who were expert in markets where different conventions and languages made it difficult for a US publisher to compete. We established long-standing relationships in Europe, Japan, Singapore, and Australia. While contracts governed the major terms of these arrangements, a handshake sometime covered the nuances. We shared budgets, forward plans, openly and honestly back and forth.

Over the course of time, I became close to the principals of these businesses, as well as their families. None were closer than ties to Peter G. who was the founder of a U.K. company that covered the European markets. He was a brilliant and articulate businessperson with savoir-faire.

Although Peter was thirteen years older than I, we met and joined forces when our respective businesses were in their formative stages. We supported each other in our separate but similar endeavors. We spent time together in our respective Westport and London offices as well as the Frankfurt Bookfair, strategizing, sometimes agonizing, and always laughing. I can still see that glint in his eye as he ruminated about an iconoclastic approach to marketing our publishing list in Europe.

In the early 1990’s Peter was diagnosed with cancer. His illness never brought his spirits down, at least in his dealings with me. Hearing this troubling news, Ann and I visited with he and his wife and we went out on the town instead of moping.

Peter died at the age of 63, fifteen years ago last month. Just days after his death I received an extraordinary letter, emblematic of the man and our relationship. “If there is a lesson to be learned here….”

Printed Directly from PG’s Personal Disc
Date as Postmark

Dear Bob & Ann:

Although we have not spoken of it much, you will know, Bob, that I have always valued our very special relationship. Few colleagues in publishing have ever shared such a close understanding of each other’s achievements in the face of, and most usually in spite of, frequent adversity, abiding uncertainty, and the constant fear of failure.

I like to think, on the other hand, that we made good use of such time as we could spend together, helping buttress each other throughout the years. Would that we could have seen the next step through together. But, then, there is always yet another step!

Happily, you have inherited relationships (albethey quite different from ours) with both [my sons]. Thus, there promises to be continuity, as indeed there should. However, it now behooves you to play the father figure! The King is dead; long live the King!

I shall remain ever grateful to my surgeon, whose honest and accurate estimates enabled [my wife] and me to crowd our residual quality time together with joyous and memorable events. And, most of all, to [my wife] whose energy, strength and courage have made all things possible. God could not have blessed me with a more loving, caring, and supportive wife.

I want you both to know that I go in peace and with only the happiest of memories fresh in mind. If there is a lesson to be learned here, it is surely that each and everyone of us should value every day along the way – for, certainly, nary a one is given back to do over!

With much love,
Peter

Mirror within Mirrors

One of our friends wrote a warm and thoughtful note on my modest efforts here. Because some of her comments are so universal I include it below, as well as my reply to her.

"Dear Bob,

I read, with great interest, your entire blog entries (skipping over, I'm afraid, the tech speech) and found it to be so fascinating because it's such a part of you that has been hinted at in various conversations but never really spoken about in detail. I loved reading it. You are ….so thoughtful and reflective about your life.

It also makes me aware and a bit sad that we spend so much time with people we love, but do we ever really listen to them, do we care about what they think and feel, or, are we just interested in "having a fun time and passing the evening?" Why don't we spend more time talking about life instead of which restaurant we should try next? Is listening and caring something of the past? Did it ever exist? This is something I will think about today, as I am afraid I am as guilty of this as the next person.

Thanks for sharing your blog with me; I will look forward to the next entry."


Dear Friend,

Thanks for taking the time to read the blog and making such insightful comments. It seems that so much of socialization is merely passing time. I don’t tell jokes, not that I don’t enjoy hearing a good one, but I neither remember them nor see the point in retelling them. For the same reason, I don’t forward (or want) broadcasted emails containing jokes, advice, political views, warnings, etc.

Socialization is more challenging as we age. Our working lives are over, although some people still constantly talk about their former working lives as if they are still employed. Everything seems to turn to chitchat. But the kind of personal issues I try to write about are difficult subjects and maybe that’s why “blogging” is a more ideal venue for reflective thought and feelings. Working them out in writing, for me at least, gives them a level of meaningfulness and accountability lacking in conversation.

As to the “next entry,” that is one of my concerns. Once embarked on this path, there are expectations, mostly ones on my part. I’d love to write often but there are other conflicting interests, including my music and a stack of unread books. Eventually I will get around to other projects, mostly autobiographical. May they be worthy of your note.

Wintry Moorings

Halyards slap
in the winter morning’s
northwest wind.

The boat yard
is a lonely place.

Hulls are awkward hulks
beached on parking lots,
stringers and fiberglass
settled on blocks and cradles.

Some boats still endure the water,
lines urging
finger slips to test pilings;
ice-eaters drone in the briny dark.

On land they are shrink-sealed in plastic
or framed under bulky tarpaulins,
riding out the wintry bombardment,
awaiting next summer’s voyages.

Others lay abandoned
by Captains who are no more

On Turning 65

Yes that is me, some 64 years ago.

Ever since I've received statements from Social Security or a retirement account I have seen the ominous words “you are eligible to retire December, 2007…” etc. When I first saw those words they seemed to belong to someone else, perhaps another person in the future? I never thought about retirement, turning 65, my future health, etc. as I simply loved working and never thought it would end. But, before I realized it, some aspects of my health deteriorated, work ended, and this week I turn 65.

I had thought 50 was a milestone but nothing really changes at 50 other than your age. There are no other markers such as the onslaught of statements from Social Security, Medicare and the endless solicitations for supplemental health insurance, reminding you, reminding you…ad infinitium.

Ann is planning a birthday party for me at our home with friends and relatives. While I look forward to that, the high point will be a musicale I will give, accompanying my friend, Kate, who sings pieces from the Great American Songbook, songs I love. I occasionally accompany her on the piano at benefit concerts in the Palm Beach area. Our brief selection for the party is:

They Say It’s Wonderful by Irving Berlin
So Far by Oscar Hammerstein II and Richard Rodgers
I Won’t Send Roses by Jerry Herman
Anyone Can Whistle by Stephen Sondheim
Thanks for the Memory by Robin and Rainger.

I’ll conclude with two solos, both for my wife, Ann (pictured with me at Looking Glass Falls, NC), without whom I would have never made it to my 65th birthday:

I’ve Grown Accustomed to Her Face by Lerner and Loewe
and Annie’s Waltz, which I wrote when I first met her. (Someday, when I figure out how to put a sound track on this blog, I’ll post a recording.)

At 50 one is forward looking, and at the prime of one’s life. At 65 one seems to be drawn back into the past. While I am not a naturally gifted pianist, I work at it and it is an important part of my future. Moving forward in some creative endeavor, I think, is the best anti-aging tonic. The little musical selection above has some my favorite artists, especially Richard Rodgers and Stephen Sondheim. I will give you “my take” on the Great American Songbook genre at a later date.

When I turned 50 I wrote a poem that now seems more apt for turning 65 so I incorporate it below. It still expresses my feelings:

Measurements

Faceless faces wander through his past:
at crowded airports and baseball games;
at conventions and business meetings,
lips, teeth and tongues articulating
understandings and arrangements.

And the faces marching in the
Memorial Day parade,
year after year after year.

Numbers of his life parading past,
some fractional and unmemorable
and others round and etched by
calendars marking milestones.

Friends from childhood
up and down the city street
and now in the suburbs or lost
elsewhere in the cosmos.

Adult friends too,
gradually fall away into the past,
documented by photographs in
albums no one ever sees.

His children move away into distant galaxies
with gravitational forces not
understood by him.

Do they carry his genetic message
to be read in another time,
across light years connecting the past and the future?

The random culmination of today
connected by geocentric lines
to all he has ever known,
translucent as a snowflake
falling to the ground,
this one life.

Politics as Usual – Where is a Leader?

It is that time of the year – political demagoguery to seek the presidential nomination. No wonder it is easy to become inured to politics. Not one candidate exhibits the qualities of leadership but, instead, each is busy tearing down the other, trying to appease every voter. Politics as usual. Leadership as usual.

Whatever you might think of John F. Kennedy, he knew how to articulate an objective and rally the nation behind his viewpoint, albeit he was also a crafty politician – perhaps one of the best in my lifetime.

The Cold War was at its peak when he took office and behind the guise of exploring space and shortly after the Bay of Pigs fiasco in Cuba, Kennedy threw down the gauntlet on May 25, 1961: “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the Earth.” It was a masterful stroke to rekindle American pride in the post Sputnik era and to establish a battleground in the Cold War (unfortunately, the other one being Viet Nam which was gradually being funded at the same time).

I remember how preposterous and unbelievable this objective seemed at the time, surely an impossible one to achieve. It was something more likely to come out of H. G. Wells or Jules Verne rather than the President of the United States. But I also remember sitting in an apartment on the upper west side of NYC with my future wife (Ann) on July 20, 1969 watching Neil Armstrong taking that “one small step for [a] man, one giant leap for mankind.”

How does this relate to today’s Presidential race? Where is the candidate who says, “If you elect me I will dedicate our country to achieving energy independence within a decade.” And this must be the central message of our future leader as all other issues, and in particular the economy and the environment, stem from our addiction to oil.

I remember the GE science fairs that were given at NYC high schools in the 1950’s. The prototype of a solar power car was shown on stage and, then, when a spotlight was focused on its solar cells, the car slowly moved across the stage. It was proclaimed that this would be the car of the future in twenty-five years! The rudimentary technology existed even then, but as gas was 23 cents a gallon and we were able to produce the majority of our energy needs domestically, we did not need the backbone to commit our nation’s resources to alternative energy. And at that time we were unaware of the long-term effect of fossil fuels on our environment.

While the goal of putting a man on the moon with the decade sounded impossible in 1961, energy independence indeed will be impossible without committing to it as a national goal. Failing to achieve that will leave our nation hostage to foreign interests. We think we are fighting the war on terrorism in Iraq. That war is stealthy brewing closer to home as our dollar declines, foreign interests are buying up assets, and we continue to mortgage our future by borrowing.

Not only do we have to create better incentives for conservation, but we have to use, further perfect, and expand our proven nuclear, solar, fuel cell, hydrogen, and wind technologies not to mention the newer tidal and wave technologies. Honda has already produced a hydrogen car that gets 68 miles to the gallon, the only “waste” product being water http://automobiles.honda.com/fcx-clarity/. Is anyone in Detroit or Washington listening?

If one of the presidential candidates ran solely on the platform of energy independence by 2017, he/she has my vote.

Ikey Lubin's and Letters from the Past

I finished Russo's Bridge of Sighs and like many of the characters in the book, I am drawn into Sara’s drawings of Ikey Lubin’s, the family grocery store that survives three generations of Lynches and their extended family. At first Bobby enters their lives, then Kayla, but, and this is Russo’s genius, it is you, the reader that is swept into the store as well and into the novel.

For me, it raises my consciousness of my family and the family business, which is no longer. It reminded me that somewhere in my home I had a few letters that my father wrote during WW II to his brother, my Uncle Phil. After finishing Russo’s novel, those letters called out to me, demanding that I locate them, which I did.

Reading them puts some of what I’ve already written in earlier posts in perspective. They actually exaggerate a sadness I feel concerning my immediate family, with my parents living out their lives in discord and unhappiness, sharing their pain with my sister and myself.

Now that I’ve located those letters and have read most, I will occasionally transcribe parts of them. The one that follows was written on August 12, 1945 when my dad was younger than my youngest son is now. It is particularly momentous as it was written only days after the first atomic bomb was dropped on Hiroshima on August 6 and the second bomb was dropped on Nagasaki three days after. Until that time, his letters expressed the foreboding that he will be shipped off to Japan with his unit, the 3264 Signal Service that had recently become attached to the famous “Screaming Eagles” 101st Airborne Division.

The contents are also bittersweet as he laments about possibly being held in Germany as part of the occupational force and his desire to return home to his wife (“Penny”). Little did he know that upon his return my mother would “joke” that she had hoped his transport ship would sink.

In my last blog entry I made the connection between literature and family. For me, Russo offers a glimpse of family, although troubled at times, that holds together in spite of declining mill towns and changing ways of life. Hence, we are taken into Ikey Lubin’s, coming together “in the present to recall the past and share a vision of the future.”

Here are my father’s hopes and thoughts on Aug. 12, 1945, in a letter to his brother, Phil, from Wiesbaden, Germany:

“As you no doubt already know, I informed my sweetheart some very discouraging news – that is being stuck here as [part of the] occupational [force]. On the heals of that letter came the wonderful news that Japan is asking for surrender. As this wasn’t definite as yet, I can’t say that finally war is ended, but I’m sure it’s only a matter of a day or two.

The Atomic bombings, and Russia’s entry into the conflict just overwhelmed the Japanese, especially the Atom smasher, a deadly and destructive thing, which has great future development for the betterment of mankind, but what I fear is some nation to use it for a complete destruction of civilization. I hope that this fear never will materialize.

What I began to say concerning the news [staying here as part of the occupational force], which I hated to tell Penny, is this – the sudden ending of all hostilities can possibly bring me and hundreds of other guys back to homes sooner than is predicted. I’m sure that those who are the law makers at home aren’t going to leave us in these foreign lands against our will – especially as there are millions of other Joes who have never left the good old USA and faced a future of sudden death.

I fought for freedom, freedom for all peoples. Now that we have won victory over the oppressors, haven’t I the right to enjoy that freedom? The Army is composed of civilians. Is it not the democratic way that we all share the fruits of victory, especially those who fought for it and were fortunate enough to be sparred a hideous death?

I don’t want you to feel, Phil, that I’m preaching or insinuating directly at you – only my desire is so strong, the urge so great to be able to come home again – this is now it is with most of the soldiers. I feel if we all write our families, congressmen and such something will be done. How about it, Phil, will you write a note to our congressman expressing your views

Now here’s some big favor you can do for me, Phil – I’m going to miss Penny’s and mine anniversary – we will be married seven years this September 4th. God, how those years flew and how I love my sweetheart. Will you buy a big bouquet of flowers, spend what you think will fill an order of a large one, but beautiful and then in the evening take her to dinner at that Swedish restaurant and musical show afterwards? I know this is a tall request and maybe puts you in a sort of embarrassing position, but I hope not. I want it to be all a surprise for Penny and I’d leave that to you as how to do it.

Have the flowers delivered in the morning of that day with an enclose card which simply says [unfortunately, and ironically, this portion of the letter was destroyed when it was sliced open]. The amount of money this involves I know won’t be cheap – and I can’t at present send anything to cover it, but I will repay you fully Phil, not only in money, but with my sincerest appreciation and many thanks. Do you think you can do this for me and for Penny? The main thing Phil – keep it a surprise somehow. Let me know your answer and details.

So, Phil, this is all for now. I hope everyone is well and of course yourself and that the business is beginning an upward surge. Give my regards to everyone.

Love, Robert”