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Financial perspectives
Posted on October 7, 2008 by Mark Skala
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A friend who is president of a local Cape bank and I were recently discussing our retirement finances over lunch — boy what a way to give me acid reflux. While we are both a long way from retirement years, and now it looks like even longer, we couldn’t help but ponder what is happening in our economic world.
As any good financial person will tell someone my age, he urged me not to look at my 401k plan right now. He reminded me it was a useless endeavor given I won’t be relying on that income for another 15 to 20 years. He told me I would only make myself depressed. Now I wish I had listened to him and all the experts in the newspapers and on TV droning on about the financial crisis.
What I discovered wasn’t pretty. In just about a year I had lost about 18 percent of the plan’s total value. I have since queried numerous fellow Cape Codders who have admitted they couldn’t resist the urge to look either. Their discoveries were equally depressing.
I read today in one of the major dailies that US retirement plans have declined $1.2 trillion dollars in recent months. I’m not even sure how many 0s that is…But as my 87-year-old Irish Catholic mother reminded me while visiting her yesterday in Dennis, “at least you have a retirement fund to look at. What about all the other people who don’t.” OK, so that gave me some perspective.
Guess who’s coming to dinner?
Posted on October 1, 2008 by Mark Skala
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Many strange things come across my desk every day — as I’m sure is the case for most of us. Whether through snail mail or email, we get more than our share of crazy stuff. The latest that had me raising an eyebrow is actually something quite legitimate and a full-fledged fundraiser for Plimoth Plantation, just over the bridge in Plymouth.
The plantation is launching a fundraising campaign where people can go to ebay and actually bid on having an native Wampanoag and a Pilgrim come to their home for the holidays. At first, I thought, “OK, this is someone sending me a joke, right?” But no, as I read the official email from Jennifer Monac, a PR flack for the plantation, I knew it was for real. And they were asking me to make sure I join the chorus of people spreading the word about this “unique” and “once-in-a-lifetime” offer.
I don’t know about you, but the holidays are pretty stressful and while I love my family and friends, it is often nice to see them leave after the holiday is over. And now I could actually pay to have visitors come to my home? I know, I’m being a bit facetious here. But you must admit it is odd.
When I mentioned this to a friend, he actually loved the idea. He thought it was incredibly clever and unique, although he wouldn’t be going to ebay to register his bids. But he did think it could be a fun and unique way to help educate children about the Thanksgiving story.
OK, so maybe I’m a bit cynical. He might have a point.
To learn more about the ebay auction log on to: www.plimouth.org
From Wall Street to Main Street
Posted on September 29, 2008 by Mark Skala
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There is little doubt the economic crisis is being felt on Wall Street to Main Street. Most cannot recall a time in recent memory when people were more worried or concerned about their own economic future.
And news that the House of Representatives failed to vote for the federal bailout package isn’t helping. In fact, the stock market plunged today on news of a vote failure.
The economic pain has been something Cape Codders have been feeling for sometime, though. All you have to do is ask people and they will tell you flat out they are trying to spend less and bring down their own personal expenses.
Just yesterday I was talking to a local business owner who knows all about the current hard times. People just aren’t spending like they used, and he has had to get tough with businesses who he previously let pay their bills later than usual. He’s had to crackdown and is also realizing that just isn’t enough to make it. He is considering several drastic measures he doesn’t want to enact — but may not have a choice.
In talking with a Hyannis Main Street shop propietor, he shared a similar story. Business is off and he doesn’t see the light at the end of the tunnel. He tells me he has been conservative and should be able to weather this economic storm — he’s not so sure about his fellow merchants.
He knows it is not time to panic and hopes other businesses on the main streets of Cape Cod will see their way through this. But he is also a realistic, he tells me and knows we may not be seeing some businesses in operation come spring time.
Economic news and the uncertain financial crisis consumed the lunch conversation I had today with the president of one of the Cape’s local banks. He said watching the fallout from such places as Washington Mutual, and Wachovia just today, has been staggering.
What are we all to do? Well, I’m no financial expert but I know for me the answer is to tighten my belt, hunker down and when I am spending for goods and services I need, I’m going to make damn sure I support local businesses whenver possible.
Hunting for gas deals on Cape
Posted on September 16, 2008 by Mark Skala
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The Christmas Tree Shops ads always promote the line “don’t you just love a bargain…” Well, in this state of the economy on Cape Cod, that is certainly the case when it comes to finding good gas prices.
It amazes me how many people have asked me lately “how much have you paid for gas recently and where?” I never paid much attention until a few months ago when prices skyrocketed. And with the recent hurricane battering the Texas coast where many US oil and gas refineries are located, I’m even more aware of gas prices.
As I headed out this morning to bring my son to school, I noticed my fuel gage hovering on the E. I played a game with my car as I tried to get as far as I could without fueling up. I knew if I could make it to Eastham from the Hyannis I had struck it good. At the gas station on Route 6 in Eastham near the police headquarters, Tuesday is discount day. I wanted that 6 cents off per gallon of regular unleaded. Believe me, I am not alone.
On most Tuesdays when I have passed there on my way to our Provincetown office, there is quite a line. In fact, most Tuesdays there is a cop directing traffic on busy Route 6 at the station location. Today was no exception for lines. But I didn’t care how long I waited, I wanted that $3.69.9 gallon gas. It made me a bit late for an appointment in Provincetown, but it didn’t matter. I had just enough cash in my wallet to fill up and I drove away with a sense of accomplishment. No big oil company was about to gouge me this day. I was a bargain hunter.
I travel the Cape a lot for business and I’m scouting out all gas discounts from now on. And I’m going to let anyone who is interested know where they can find a gas bargain. I hope you do the same. It’s one small way we can rebel against corporate gas companies.
Cast your vote in primary
Posted on September 15, 2008 by Mark Skala
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The national presidential election certainly has captured the attention of voters. It’s one of the most exciting and close races in recent history. People are focused on the candidates as we head to the Nov. 4 election.
It’s no wonder there has been little attention paid to tomorrow’s state primary. But there is indeed an important primary vote Tuesday — even if it isn’t commanding the attention of our national races.
Voters are being asked to consider several key races — including county commissioner and Register of Probate. Five Democrats for county commission are vying to secure the most votes in tomorrow’s primary so two of them can then face off again two Republicans in the November election for the two available seats on the board. The Democrats are: Lance Lambros, Tom Bernardo, Sheila Lyons, J. Gregory Milne and Mary Pat Flynn. The Republicans they will compete against are Brad Crowell and Ricardo Barros.
On the state level, U.S. Sen. John Kerry has an opponent in the Democratic primary and he’s Ed Reilly, a lawyer from Gloucester. I’ve heard many town clerks say this race will help drive up primary voter numbers. That would be a good thing.
So, I’m planning to do my civic duty and get to the polls early in the day. And then it is on to an exciting November.
Barnstable land purchase makes sense
Posted on August 28, 2008 by Mark Skala
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Cheers to the Barnstable Town Council for giving serious consideration to buying the now-vacant Suni-Sands Motel on Craigville Beach Road in Centerville.
A public auction was held for the former motel but didn’t receive a high enough bid to satisfy bankruptcy trustees. The town is considering spending up to $750,000 for the land. (Check out reporter Jennifer Ouelette’s story on this purchase) The town has various options on what to do with the motel, if it does successfully buy it, including turning it to open space.
As a resident of the area, and someone who rides my bike past there and walks past there numerous times a week, I’m thrilled about the possible town purchase. It is such a beautiful area right there, and has so much Cape Cod flavor — except for the ramshackle old motel.
It would be a huge improvement for the area if the town does purchase the property. Using it as open space, a park or even spill-over parking from Craigville Beach would be far better use of this small parcel of land. Funds for the purchase would come from the Community Preservation Fund. To me, that’s money well spent.
Gearing up for election season
Posted on August 25, 2008 by Mark Skala
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It’s still officially summer. That’s what my son keeps telling me. He reminds me I’m always too quick to say summer’s over. I think he is prolonging the inevitable return to school (which for him is tomorrow 8-26).
The calendar still says we have plenty of summer weekends left. I will enjoy everyone of them as much as possible. But I can’t help but think fall and the upcoming election season. The fact that the Demcoratic convention gets underway today — and next week the Republican’s get their turn in the convention spotlight – makes me think fall all the more.
Election seasons on the Cape can sometimes be an iffy proposition — few contested races and therefore a lackluster showing. This fall should prove otherwise.
There are a number of contested county races, and a few local statewide elections — that should heat up the otherwise crisp fall season. Add to that a presidential election and we have a full slate ahead of us. One of the more interesting local races, even if the job isn’t that sexy to us average voters — is Barnstable County Register of Probate. Essentially (and I’m over-simplifying the job, I realize) the register of probate functions to make sure all legal paperwork is up to snuff before a probate or family court judge can hear a case.
We have two people running in the Republican primary on Sept. 16, candidates Anatasia Welsh Perrino facing off again Priscilla Young. The winner will then challenge Democrat Eric Turkington in the November election.
There are also about eight candidates running for county commissioner. It has pretty large field and should result in interesting choices for voters. Yes, choices. What a luxury for all of us voters.
In the weeks and months ahead our websites and newspapers will be devoting a fair amount of space to upcoming elections. We face some important decisions and our goal is to educate voters as much as possible. We’ll have stories, as well as welcome debate from voters, whether as guest commentaries, letters to the editor or people on the street interviews.
While I dread putting away the beach chairs and saying goodbye to summer, I also know this election season both locally and nationally should prove to be dynamic.
Four-day work weeks
Posted on August 21, 2008 by Mark Skala
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There’s been a fair amount in the news lately about many employees, government agencies and businesses considering a move to a four-day work week.
The discussion has gained some momentum lately given the high price of fuel and other utilities. Municipalities are giving it some serious thought as a way to reduce expenses and balance budgets. The most recent town to chime in is right here on the Cape, that of Provincetown. The union which represents most of the town employees is considering the measure as it gets ready to renegotiate a three-year contract. Employees would still work 40 hours, it would just be spread over four days instead of five.
Other municpalities in Massachusetts are also consdering the move. In addition to supposed savings on fuel and energy costs, many believe the longer work day the four days of the week would fit better into people’s lives. Residents, the proponents suggest, could take care of their town business after they get through with their own jobs, rather than rushing at a lunchhour at leaving their own jobs early to pay a tax bill, get a beach sticket…you name it.
It’s an interesting concept. And it is certainly a creative way to deal with economic shortfalls in the current fiscal climate. Many people I have casually talked to say they would love a four-day work week; others say they are already working 10 hours a day, just five days a week.
Some business leaders I have talked to about this concept say they think it has merit, but question whether people will be as productive while working a longer day. Others fear the switch could hit working families, given that most day cares aren’t open 10 or more hours a day and schools would close long before a parent got home. Child care concerns are very real and most be taken into consideration when any town or business considers this creative four-day work week approach.
While most towns are a long way from instituting this change, including Provincetown, it definitely is worth exploring.
(For more on the Provincetown story, click on the link below.)
http://www.wickedlocal.com/capecod/news/cape_cod_news/x1543321001/Provincetown-union-weighs-4-day-work-week
Cape keeps you connected
Posted on August 11, 2008 by Mark Skala
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It never ceases to amaze me how Cape Cod can keep you connected to people through many years.
Recently an old friend from high school — whom I had not communicated with in more than 25 years — reached out to me. She was visiting family on the Cape and knew I had moved her after college. She looked me up on the Internet and found, indeed, I am living and working on Cape Cod. The Internet is an amzing resource and it astounishes me what you can find with a bit of digging. Anyway, she emailed me and we met up today for lunch. What a blast from the past.
We reminisced about our high school days and spending time on the Cape. We had a lot of laughs recalling some of our antics, especially a few outings during the summer here. We exchanged numbers and email addresses and promised to stay in touch. I hope we do.
I feel fortunate to live here as it is a place many people like to visit and friends from days past always reconnect with me when they are here. Tonight I’m meeting up with some “summer friends” from New York — who are here for their annual two-week vacation. We’ll banter back and forth about the Red Sox and Yankees, have a few refreshments and spend quality time together. I can’t think of a better way to spend a summer evening.
Winkler strikes right chord
Posted on August 4, 2008 by Mark Skala
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All too often we hear and read about endless accounts of celebrities gone bad. They have their temper tantrums and diva moments. They can be demanding prima donas and downright nasty if they don’t get exactly what they want. Too many celebrities let their fame and good fortune go to their heads.
Henry Winkler is not one of those celebrities.
He rose to fame as the leather-clad character “The Fonz” on the popular ’70s television show, “Happy Days.” In fact, next week in Milwaukee a life-sized statue of “the Fonz” will be unveiled. He has been featured in numerous films, including “Holes” and “Water Boy.” He is also a respected author of more than 14 children’s books, selling more than 2 million copies. A pretty amazing resume for a guy who has dyslexia and says he was in the “bottom 3 percent” of learners.
Winkler spent the last several days on Cape Cod as part of his stint as guest conductor for Sunday’s annual Pops by the Sea concert featuring the Boston Pops. He had a whirlwind few days, including a guest speaking engagement Friday evening at Sandwich High School and concluding with the Pops event on the Hyannis Village Green. He could not have been a more gracious individual.
Those who attend Friday’s event in Sandwich tell me he was inspirational, motivational and real. Winkler stayed well beyond the appointed time, so that he could sign more than 800 books! At an Arts Foundation gala (the foundation hosts the annual Pops event) on Saturday, he helped raise a record amount of money at an annual auction to benefit arts programs on Cape.
He performed his guest conducting duties brilliantly Sunday, leading the Pops Esplanade Orchestra’s rendition of John Phillip Sousa’s “the Washington March.” Afterwards at a reception for him, he worked the crowd tirelessly, thanking all of us who attended. He said he had “the time of his life” while on the Cape. And like many tourists, he feasted on lobster rolls while here.
I was completely struck by how genuine and down to earth he is. He had no pretenses and was so grateful for having been given this honor as a guest conductor – a volunteer gig. In fact, one of the Pops benefactors commented Sunday how Winkler had one more book to write — how to be the ideal guest conductor!
I would add one more chapter — how to be the ideal celebrity, gracious and grounded.
For photos of the Pops event, check out this link:
http://www.wickedlocal.com/capecod/multimedia/x781538209/Pops-goes-the-Cape
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