The Economy and its Impact on Us

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All right, folks, Conejo Joe here.  I've been on a week long trip to San Diego with my family and am back in action. 

The economy has been a major concern and drag on all of us.  What a year.  Gas prices rising to over $4 a gallon and now we're seeing prices below $2.  The stock market has been hammered over 50% from its highs and it has hit all of us hard in our retirement savings.  We've seen dozens of companies filing bankruptcy or scaling back.  Foreclosures all over the place.  Real estate prices are way way down.  Unemployment rates are sky high.  It has certainly been a stressful year.

But you know what?  We are resilient and we will come back.  We are all in this together and we have seen this cycle before.  We have a broad, diversified economy and somehow, some way, we will all make it through these economic doldrums.

Our trip gave me hope.  We visited Legoland, Sea World, Downtown San Diego and we saw lots and lots of people out there, experiencing life, enjoying themselves, spending money, regardless of the bad economy.  Heck, we even had to stand in lines!!  There are too many things in life to live for and enjoy.  Why let a little recession ruin the fun!? 

If you are unemployed, there are still plenty of jobs out there!  They may not pay exactly what you want, but sometimes we need to step back to move forward.  Check out Monster.com, Craig's List, the local newspapers.  Network in LinkedIn and other social networking sites.  Make something happen.  Our country needs each and every one of you.  There are jobs out there for everyone.  They don't always hit you in the face.  You need to take action and FIND them!

OK, OK, Mervyns went bankrupt, Linens & Things went bankrupt, Sharper Image went bankrupt, Circuit City just filed for bankruptcy and the banking industry changed so much that we hardly recognize it.  But ya know what, I HATED Mervyns, Linens & Things, Sharper Image and Circuit City.  Last time I visited Circuit City I waited 20 minutes for help and there were no customers in the store.  Mervyns was never exactly enjoyable.  Times change and some businesses can't keep up with change.  (I do like the Janss Marketplace very much and hope that the void left by the loss of Mervyns and Linens & Things is filled quickly).

In the meantime, The Oaks mall has been through a major upgrade and a large new Nordstrom store opened in September.  And a high-end Muvico movie theatre is slated to open at The Oaks in early 2009.  The U.S. Government has stepped in and provided a backstop for large financial institutions like Citigroup, Bank of America, Wells Fargo, Goldman Sachs, Morgan Stanley and JP Morgan Chase by investing in these companies.

So bottom line is this.  We live in a very cyclical, dynamic and changing world.  Don't overreact.  Don't not act.  Now is the time to start investing in your future.  Make things happen.  Everything is a two-edged sword.  Real estate and stock prices have tumbled.   But perhaps that gives us the buying opportunity of a lifetime.  Your company went bankrupt and you are out of a job.  Well maybe you hated that job and this gives you the opportunity to find what you enjoy.  Or become a consultant.  Or start your own business!

We have seen how quickly things can change.  TAKE ACTION!  Don't just sit there!  Don't wait for the "perfect" opportunity or situation.  Now is the time.  If you snooze, you lose!  Try something new!  Don't rely on others to make it happen for you.

There is too much to enjoy in life to sweat the current economic situation we face.  As the Resident Rabbit of this website of local goings on, I can tell you that hundreds of hundreds of events and activities take place locally each year and thousands upon thousands of us participate.  Yeah, yeah,  Conejo Valley Days may be history, but you know what, there are dozens upon dozens of other events that have taken its place.

So in this holiday season, enjoy yourselves, have FUN and remember...we are all in this together.  After all is said and done, our goals are all similar.  We want to live happy, healthy, loving lives.  Let's work together and make it happen!

Only in L.A.: Los Angeles Regional Paparazzi Task Force Citizen's Guide

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We have so many things that make where we live such a wonderful, unique place...the weather, the beaches, the climate, and now, The Los Angeles Regional Paparazzi Task Force. Formed by Los Angeles City Councilmember Dennis Zine, the goal is to address ways of dealing with issues related to paparazzi.

The Task Force came up with a one page "Citizen's Guide" (also see below) to dealing with paparazzi. As I am famous celebrity Conejo Joe, I have already printed the guide and glued it to my dashboard. 

What does paparazzi mean anyway? Well no one is completely sure according to this Wikipedia article but one source says papparazi (plural for papparazo) came from an Italian dialect that describes a particularly annoying noise, that of a buzzing mosquito. Federico Fellini, director of the 1960 film La dolce vita, remembered a boy who was nicknamed "Paparazzo" (Mosquito) because of his fast talking and constant movements, a name Fellini later applied to the fictional character in the movie.  Sounds plausible.  Another line of thought is that Fellini discovered the name by randomly opening the 1901 book "By the Ionian Sea," which has a hotel owner by the name Signor Paparazzo.  Hmmm.  All right, all right, I'll stop this nonsense.

Thousand Oaks Crime Alert: Catalytic Converter Thefts are on the Rise Throughout Ventura County

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From a 10/21/08 Thousand Oaks Police Department Media Release:

Nature of Incident: Crime Alert: Catalytic converter thefts on the increase

Location: Throughout Thousand Oaks and Ventura County

The price of recycled metals has skyrocketed in recent years due to high demand and surging commodity prices. Although prices have eased since the recent economic downturn, thieves have capitalized on the trend by stealing manhole covers, bronze statues, irrigation pipes, and copper wiring. One item that has captured the attention of thieves is the catalytic converter. The emission control device found on all modern gas-powered cars is being removed from parked cars across the country.

Our local communities are no exception. There have been 56 thefts of catalytic converters throughout Ventura County since June 1, 2008. Forty seven of the thefts were from Toyota vehicles, and 17 occurred in Thousand Oaks. Thieves typically target sport utility vehicles, since the ground clearance allows them to easily work underneath the vehicle. They either cut the device off the vehicle with power tools, or unbolt it, depending on the configuration.

Catalytic converters contain small amounts of platinum, palladium, and rhodium, which are highly prized metals. They can be sold to metal recyclers for amounts that vary between $25.00 and $100.00 apiece, depending on market prices.

The biggest cost of these thefts ends up on the shoulders of the victims. Replacement catalytic converters cost between $1,000.00 and $1,500.00, depending on the make and model of the vehicle.

Many of the thefts have occurred in public parking lots during daylight hours. If you observe suspicious activity, such as someone working underneath a vehicle in a public area, contact your local law enforcement agency immediately.

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Photos From Huangshan and Hongcun in China

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My talented photographer friend in China has supplied us with a fresh set of pictures from Huangshan (literally Yellow Mountain) and Hongcun, a village near the southwest slope of Huangshan.  Hongcun was made popular in 2000, with the release of Academy Award for Best Foreign Language winner (and Best Picture nominee) Crouching Tiger, Hidden Dragon that was filmed there.

 

 

 

 

 

 

 

 

 

 

 

Mortgage Meltdown Musical Chairs

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As I type this post on a windy Columbus Day holiday in Ventura County, the stock market is up over 11%, thanks in part to an announcement that the U.S. Treasury may buy some bank stocks!  Talk about a volatile market!  Stocks were down 18% last week, 24% over the last 2 weeks and 40% over the last year! 

What prompted me to write this was that my wife mentioned we have a savings account at Washington Mutual.  There have been so many banking changes that I couldn't even remember who now owns WaMu (it is now JP Morgan Chase)!  So here's a high level compilation of some of the major events of the year...so far!

10/13/08 (today):  The Federal Reserve approved Wells Fargo's purchase of Wachovia.  This deal is expected to close by the end of the year.  Wachovia is (soon to be was) the 4th largest bank in America.  Originally Citigroup tried to buy Wachovia but Wells Fargo offered more $$.

10/3/08:  FDIC deposit insurance limits are temporarily raised from $100K to $250K per account until 12/31/09.  Now if they could just tell me where I can get this much money fso I can utilize these limits.

9/25/08:  Washington Mutual is shut down by the Office of Thrift Supervision and FDIC (the largest bank failure in U.S. history), only to be immediately sold to JP Morgan Chase that same day.  JP Morgan Chase now claims to be the largest U.S. bank.

9/16/08:  Bank of America bought Merrill Lynch for $50 billion (way to go, B of A!).  The deal will close sometime in Q1 2009.

9/15/08:  Lehman Brothers files Chapter 11.  Sorry guys, no bailout for you!  But the next day, Barclay's Bank bought Lehman's businesses and assets.  So Lehman is still around.

9/7/08:  The Government takes over Fannie Mae and Freddie Mac.  Maybe they should upgrade their names to something like Angelina and Brad or other more popular names.

9/6/08:  The Government steps in and saves AIG from its liquidity issues by taking the equivalent of an 80% stake in the company.

7/11/08:  IndyMac, with local branches in Thousand Oaks, Camarillo and Ventura, is the 2nd largest bank failure in history (now the 3rd largest, thanks to WaMu).  But that's o.k., they are now owned and operated by the Feds and all's fine.  Anyone wanna buy a bank?  How about McDonald's?  Rename it BigMac bank and pay interest in french fries??

7/1/08:  Countrywide officially becomes owned by Bank of America.  So now the big question is...when are they gonna change it to the Thousand Oaks Civic Arts Plaza's "Bank of America Performing Arts Plaza"??

5/31/08:  JP Morgan Chase bought Bear Stearns.  They opted against calling the new entity JP Morgan Chases Bears.

Well let's all hope that we are headed in the right direction!

Visit the New City of Thousand Oaks "BikeSafe" Website!

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BikeSafe is a new bicycle safety campaign launched in April 2008 designed to educate the Thousand Oaks community about good riding and driving practices that help keep everyone safe on the road. The campaign focuses on youth and adult cyclists, with an emphasis on the importance of riding with the traffic not against it.

BikeSafe has tips for local bicyclists and drivers, a great local area bike map, bicycling brochures for adults and children (in both English and Spanish), links to other bicycling website, information about local events and other information.

Check it out at www.toaks.org/bike or call the Thousand Oaks Public Works Department at 805.449.2400 for more information.

Two Scenic Pictures...Can Anyone Guess the Location?

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The location of these pictures is Mount Huang (also known as Huangshan, which literally means "yellow mountain" in Chinese), located in eastern China.  This is one of the most popular tourist destinations in China, known for scenery, sunsets, granite peaks, pine trees and views of the clouds.  My friend who took the pictures tells me Huangshan is the Chinese equivalent of Yosemite.

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