Author: Harman Stinson

  • Macau

    Macau FlagColonized in the 16th century by the Portuguese, Macau has the distinction of being the first European settlement in East Asia. After four centuries of growth under Portugese rule, much of that time fending off other European aggressors, the two islands and peninsula that make up Macau were turned over to China as a Special Administrative Region, or SAR.

    Currently, Macau is known more for its multitude of casinos and capitalist leanings than for its colored history or the policies of its current administrator. Still, history shines through the glitzy surface of Macau: there is a distinct air of colonial Portugal in its cobble-stone streets, open markets, and historic architecture. And as Macau has transformed itself from colonial underdog to wealthy destination, it is now undergoing another transformation, trying to attract a less adult and more family-oriented kind of tourist.

    Traveling in Macau
    There are regular flights to Macau from major Asian cities, such as Bangkok, Singapore, Seoul, and Manila; however, because there are so few direct flights from Europe and beyond, the brand new, state-of-the-art airport on Taipa Island is very underused. Getting from the plane, through customs, and on your way is a breeze. And if flying is not your prefered method of travel, there are many daily trips over sea from Hong Kong and elsewhere, and road crossings from mainland China.

    Once you’ve arrived, the best way to stay mobile is via minibus. Taxis are a pretty good deal too, if you are willing to struggle with a potential language barrier. Unless you’re into the novelty, steer clear of the three-wheeled triciclos: they’re cramped, slow, and restricted to traveling only at the waterfront.

    Weather in Macau
    Macau is at its most comfortable in the fall (October-December), when the air is clear and dry. March through May is nice as well; but hands down, the worst times to go to Macau are during the chilly winter months or in the hot, humid, and wet summer.

    Macau MapMacau Special Administrative Region Information
    Population: 438,000
    Government: Special Administrative Region of China (Province)
    Square Miles: 9 sq mi (23.8 sq km)
    Languages: Cantonese, Portuguese, English
    People: 95% Chinese, less than 2% Portuguese

  • Bahamas

    Bahamas FlagBeing so close the United States has made the Bahamas one of the easiest of the “island paradises” to visit. From its sprawling capitol Nassau, to its many smaller islands, the Bahamas have everything other Caribbean islands have and more. The Bahamas are made up of 700 islands and 2500 cays, which make it a wonderful place for sailing and diving, and with so many locations, you’ll never get bored.

    The islands are very different from one another as some have been “built up” while others still have a more West Indies-like style. If you have been to one island you shouldn’t judge all of the Bahamas by what you found there; inter-island cultures often seem like night and day. Only a true local could tell you about all the hidden gems in this island chain, but travel there just once and you can find some of them on your own.

    Christopher Columbus landed in the Bahamas on his first voyage to the Americas, in 1492. His landfall was made on the island of San Salvador. At that time the islands were inhabited by the Lucayan indians; sadly the indians were enslaved by the Spanish and, within 25 years, the entire population of 50,000 indians was gone.

    Traveling in Bahamas
    Bahamas MapYou can travel to the Bahamas by either plane or boat: there are regular flights from many airports in Florida, as well as ferries leaving from Miami and Fort Lauderdale (most of these travel to the more popular ports, such as Nassau or Freeport).

    Traveling between the islands is easier on a plane than a ferry, as there are few commercial boats connecting the islands, and those that do are not on regular schedules. There are water taxis between many of the closer islands, but if you’re looking to travel farther down the chain a plane may be your best bet.

    U.S. citizens do not need a passport or visa for stays of less than eight months in the Bahamas, but must show proof of citizenship. Citizens of Canada or the United Kingdom and Commonwealth countries do not need a visa for stays of three weeks or less. Visitors from most other European countries need passports but not visas for stays up to three months. Air passengers must have a return or ongoing airline ticket.

    Weather in Bahamas
    The weather in the Bahamas is some of the nicest in the world. Temperatures rarely drop below 60°F (16°C) and don’t usually go above 90°F (32°C). The sun shines on average 320 days a year and the islands, being right in the path of the trade winds, normally have a nice cooling breeze. The rainy season is between May and November, but with an average of only 45 days of rain a year you can bet that you’ll see plenty of sun during this period as well. This time of year is also the hurricane season, but the islands seem to generally escape the damage caused by many of these storms.

    Bahamas Information
    North / Central AmericaPopulation: 294,982
    Government: Independent state within the British Commonwealth
    Square Miles: 5380 sq miles (13,940 sq km)
    Capitol: Nassau (pop 190,000)
    Official Language: English
    People: African descent (85%), European descent (12%), Asian & Hispanic (3%)
    Religion: Baptist (32%), Anglican (20%), Roman Catholic (19%)
    Major products/industries: Tourism, finance/banking

  • Paradise Found and Lost, August 2003

    Paradise Found, Friday, August 1, 2003
    We had not been out on the boat in over a month–a few weddings and visiting friends and family had kept us away–so by the time August came, we were ready to do a little cruising in the warmer dryer summer months. I had been on the boat for a week, doing work on her and getting her ready for a long weekend of cuising the Elizabeth Islands.

    Buzzard’s Bay Regatta LasersLiving on the boat for a week, I had gotten very comfortable with BumbrÉ and had enjoyed the lovely weather. It was also the weekend of the Buzzard’s Bay Regatta, that was being sponsored by the New Bedford Yacht Club, so many mornings I was awakened by what seemed like thousands of Lasers parading out of the harbor for the day’s races. It was quite a wonderful site that was repeated in reverse during the late afternoon when they started back in.

    On Friday, I was joined by Jen before our Saturday morning sail to Cuttyhunk. After all the work I’d done, most everything was stocked and ready to go on-board. We had dinner at the Riverhouse Grill in South Dartmouth with the regatta crowd before heading back to the boat for a good night’s sleep.

    The morning was wet and foggy, and we slept late. At 8:45 we crawled out of bed to watch the procession of regatta boats out of the harbor. As we were waiting for the weather to improve I gave Jen a short navigation lesson and showed her how to check the engine oil. At about 10:45, just as the sun peaked out from behind the clouds, we headed south toward Cuttyhunk.

    Cuttyhunk HarborAs we tacked back and forth in the fog toward Cuttyhunk Island, we heard numerous boats and waited to watch them pass. As this was happenning, I remembered our radar, which we had yet to use. I switched it on and we started to pinpoint the boats on the radar, which we could hear far before we were able to spot the boats through the fog.

    As we neared Cuttyhunk, the fog began to lift until we had about a 1 nautical mile of visiblity. About 1:20 P.M., we spotted Penikese Island just north of Cuttyhunk and kept it on our starboard so we could head into the channel leading to Cuttyhunk. Soon after, we lowered the sails and headed toward Cuttyhunk Harbor.

    Cuttyhunk Church with the striped bass weathervaneWe entered the harbor and started searching the mooring field for one of the $35 moorings. We found one in the midst of the crowded mooring field surrounded by other boats no more then 20 feet from the next boat.

    The harbor was packed, but at Cuttyhunk that doesn’t seem to matter–you just don’t seem to notice the other boats. You seem to get lost in the natural unspoiled beauty of the place. We headed into shore to have a walk around. It had been years since I had walked on Cuttyhunk, and Jen had never been there. We just hoped the weather would improve a little.

    We checked out the market and the famous church with the striped bass weathervane before walking up the hill toward the uninhabited part of the island. After walking back toward town, we started for the beach on Buzzard’s Bay–on the northern part of the island. After a cool swim we started back toward town past the Cuttyhunk Yacht Club. After spending the summer near the New Bedford Yacht Club, the Cuttyhunk Yacht Club was a welcome disappointment. The modest club is housed in a small shack-like structure on the outskirts of town in an area of the harbor goes dry at low tide. Its small porch is shaded by an old sail, draped overtop like an awning.

    Cuttyhunk Yacht ClubWe got back to the boat and started preparing dinner and settling down to enjoy the rest of the day on the water. We would have loved to take a shower but our $35 payment did not include such amenities. During this three-day weekend, it would be saltwater showers for us. After dinner and a movie on the laptop computer, we got to bed looking forward to our sail to Hadley Harbor tomorrow.

    Saturday, August 2, 2003
    We awoke in the morning to much of the same foggy weather we had the day before. Since the weather wasn’t cooperating, we were in no rush to get going, so I headed in to fill the water jug and check out the action on the docks. We finally got under way about 9:30 A.M. with a parade of other boats.

    With a light wind we put up all the sails and hoped we could make a fast run up the Elizabeth Islands. This didn’t happen and we slowly made our way past Quick’s and Robinson’s Holes, making under 4 knots.

    The upside is that we had time for some slow-sailing maintenance: we oiled the teak rails and soon were headed past the Weepecket Islands. At 12:30, we entered the channel between Wood’s Hole and Naushon Island following another boat who had left Cuttyhunk with us into Hadley Harbor. What few moorings there were in Hadley were taken, so after a search for the perfect spot, we picked a place south of Bull Island in about 12 feet of water. We set down the hook hoping our audience didn’t know it was our first time anchoring Bumbré. Fortunally, there was no need to worry as we caught on the first try and settled into what was slowly becaming a beautiful day.

    Trees on Bull Island Hadley Harbor is the main harbor for the Elizabeth Islands. The Elizabeth Islands are a private group of islands off Cape Cod owned primarily by the Forbes family. Most of the islands are part of a land trust, which means they are protected from development. Unfortunately, because the islands are privately owned, they are not generally accessible to the public. The only island you are aloud to explore is Bull Island, which is a small island just to the north of the main anchorage.

    When we got there we headed off to Bull Island to have a look around and swim. We walked the trails, avoiding the acres of poison ivy, until Dingy Dock Bull Islandwe reached a nice pebble beach where we good relax. We collected a few shells and continued our walk, which didn’t take long as the island is quite small and the parts that aren’t covered in poison ivy are covered with swampy lowlands. It’s still beautiful, but a nature walk on the island will certainly take less than an hour.

    Gunkholing in Hadley HarborWe’d read in the cruising guide about all the great gunkholing to do around near the harbor, so we decided to take the dingy and explore some of the smaller islands that surround the anchorage near the main island of Naushon. Most of these island have at least one large house on them and nothing else.

    We headed out exploring the different holes around the islands and even finding a few outlets into the Vineyard Sound. Since we were only in a nine-foot dingy we didn’t venture out too far. The day, which had begun much like the previous one with foggy overcast skies, was now beautiful and sunny. After a little while, we decided to take a dip, so we headed back to Bumbré to swim off the transom.

    After our “bath,” it was time to enjoy the rest of the afternoon from the cockpit. This is where the yachtsmen participate in one of there favorite activities, watching others anchor. We were fortunate this day as, besides the normal issues people have while trying to put down the hook, we had gold medal winner for incompetence in our midst.

    At around 4:30 we witnessed a brand new 42-foot Hunter named Idle Flyer come into the anchorage under power. We should have known by the fact that her port of call was in West Virginia, a landlocked state, that this was not going to be just another simple anchoring.

    One of the few houses around Hadley HarborThe effort started the way most unsuccessful anchoring attempts do: they dropped anchor too close to the boat behind them with most of the chain from the anchor locker, and before long they had drifted into that neighboring boat. They of course were so concerned with whether the anchor was holding that they didn’t notice this until the other boat made enough fuss of fending off that the skipper decided that this first attempt was not going to work. From here things really started to get interesting. After shouts at his wife to raise the anchor using the electric windlass failed to get the desired effect, the skipper stomped forward to do it himself, whereupon he failed to get the anchor chain to move. As the people from the other boat fended him off, he went down below to investigate the problem. The problem must have been a blown fuse, and soon the windlass was working again, briefly. After about 10 seconds it was again not doing its desired function. After pulling away from the other boat, the skipper again disappeared below, and again the windlass started working again–this time a little longer than before. By now, everyone in the anchorage had taken their seats for the show, which was starting to get interesting. After a verbal exchange between the fustrated skipper and his confused wife, the skipper decided he had better cut his losses. This is when he did the most unadvised thing anyone could have done in his situation. He decided to motor out of the crowded anchorage full of buoys and anchored boats (including ours) with his hook dragging on the bottom. I couldn’t take my eyes off this spectacle. All I could manage was to stare in shock as the left the harbor still working on getting the anchor up. Just as they were close to leaving view, I watched as the large CQR anchor surfaced from the water slamming into the side of the boat before coming to rest in the pulpit. My wife and I wondered if they would come back and give it another shot, but we didn’t see them again that day.

    We awoke the next morning and went on deck for some breakfast. Once outside we noticed commotion on Bull Island. It seems, sometime early in the morning, our friends on Idle Flyer had returned and run themselves hard aground. Now a few other people in the harbor were helping in their tenders. It looked as if they could use another hand so I put down my granola bar and headed over in our dink.

    When I got there the wife of the skipper and two others in there dinghies were struggling with the CQR anchor so they could take it out to help kedge the boat off the bottom. They had soft bottom boats so I put it in our hard bottom dinghy and threw it over about 75 feet off the port bow. It seemed that turning the bow toward the deep part of the channel gave them the best chance of getting off. So we moved our dinghies over to the starboard side to help push them out. Of course the windlass didn’t want to cooperate again, in much the same way it hadn’t cooperated yesterday. But today there was a new problem, while the skipper’s wife was very pleasant and appreciative of our help, the skipper was not. In fact, he would hardly acknowledge our presence. So as we turned his bow he ignored our request for him to give the boat a little gas instead only wanting to fiddle with his still-broken working windlass. Finally he noticed we were moving him and decided that he should give the boat some gas. So yelling at his wife to forget the anchor he moved the boat clear and into deeper water.

    After much thanks and offers of cocktails later from his wife we started to leave the rest of the job to the skipper. He was less than thankful, so the group of helpers started to disperse. I noticed as I was headed back to our boat that the skipper had again started to fiddle with the anchor still down just as yesterday. As this went on, I watched as the boat drifted right back onto the bar from which we had just unstuck them. By now, I was back on Bumbré and decided to sit this one out as the anchor was still deployed and some others were still there to help. This time the anchor windlass worked and they pulled themselves off with help, before the tide stranded them for a much longer time.

    We would not be staying for cocktails later in the day and we started to prepare for our departure back to South Dartmouth. The morning, which had started out as a beautiful sunny day, had deteriorated. The wind picked up and the clouds began to roll in. We got the anchor up with no problem and set northwest course toward Padanaram. The wind was from the south and refreshing with gusts up to 25 knots. During the sail, the wind blew down the bimini, so we packed it away. The unsettled weather got worse the closer we got to home. About a half hour away it started to rain and the closer we got, the harder it rained.

    We got back to the car to head home but we were presented with a problem. When I was dropped off over a week ago we found the dinghy deflated laying alongside the harbormaster’s shack. A police officer said he found it in the parking lot and put it there to protect it from damage. It turns out there is a pecking order to pulling your dinghy on the beach by the launch ramp in South Dartmouth. We did not know this; it turns out we were in the wrong spot, so the “owner” of this piece of beach kindly moved our dink into the middle of the parking lot… Very courteous. Thanks to the nice police officer, it was saved from too much damage, but now we were reticent to leave it on the beach again. So we struggled to deflate the dink so we could stuff it in our car. This was not an easy exercise and one we would not be repeating soon.

    Paradise Lost, Saturday, August 9, 2003
    Nasketucket Bay Journey It was now getting close to the date when a decision had to be made. Do we stay, or do we go? We’d planned all year as if we were going on this extended trip, but the date was approaching when Jen would have to give notice at her jobs–the biggest change yet. Because of this, we did not get down to the boat until Saturday morning. We were just going to get some work done and have a short sail in the afternoon to practice man-overboard or heaving-to. But since it was such a nice day we decided to cruise somewhere. Since it was late in the day, we decided to go somewhere close, we looked at Westport among other places, but in the end, we chose Nasketucket Bay, between West Island and Fairhaven. The guides didn’t say much about this place except that the entrance was marked and maintained privately and that there wasn’t much there. We decided to investigate anyway, and we headed out about 12:45.

    The last time out, we sailed off the mooring, so this time we decided to try it again. Our earlier effort was not unsuccessful, but this time went even smoother as we glided right off the mooring and right on course. Unfortunately, our algae problem had resurfaced and clogged the speedometer again, so that was not going to help us this leg of our journey.

    We headed off in a nice southerly wind of about 10 to 15 knots, which would push us right to Nasketucket Bay on a beam reach. Bumbré made good time, averaging over 5 knots most of the way until we rounded West Island. The chart showed around the point of West Island was bordered by a fish pen in the water. We quickly spotted the yellow bouys marking the pen and kept them far to starboard. As we started to near the northly point of West Island, we started to look for the private navigation aids that the chart showed. We didn’t expect much to go by so we called on the radio and cell phone but recieved no response at Earl’s Marine, so decided to go at it solo. This proved tough for someone looking at a chart dotted with rocks and shallows, with only “privately maintained” navigational aids. We spotted a large floating buoy that looked like a yacht racing marker. I assumed this was one of the navigation markers and headed toward it. As we got closer, I looked through the binoculars and saw a line of lobster buoys and headed off from the marker I had previously seen. This made me feel very nervous, as it seemed highly unusual to mark a channel with a continious row of roped lobster bouys. I decided to make a quick retreat, not wanting to chance running into what I assumed was another fish pen.

    We started back out of the bay, feeling better having not chanced running aground or worse. About halfway past West Island, we got a call on the cell phone from Earl of Earl’s Marine.

    Nasketucket Bay Scallop Farm He gave us local knowledge about how to approach the bay without running into trouble. When I told him about the marker I had seen he informed me that this was part of a huge scallop farm that for some reason had not found its way onto the charts. We were told to turn to port about 100 yards before the marker and head due west until I saw green and red markers, after which we were to follow them just as you would normal navigational markers.

    Nasketucket Bay harbor channelIt all seemed simple enough until we started to look for the green and red markers. Fortunately, this time we had another sailboat to follow. Spotting the markers wasn’t easy as they were far from where the chart indicated–actually much closer to the harbor itself–but finally we found them.

    As we approached the narrow channel our depth alarm started to sound nonstop. Jen, being nervous about grounding, wouldn’t let me turn it off, so we continued in with the alram going off incessantly and reading that were consistenly under 8 feet. Earl had assured us that there was plenty of water for our 5′ 3″ draft, but this didn’t keep me from joining Jen in the realm of the nervous. Finally we made it through the channel and into the equally shallow harbor.

    Illumination Night at Earl’s Marina, Nasketucket Bay We got on our mooring which was right near the docks and headed ashore. After paying for our mooring, showers, ice, and bathroom ($15), we headed across the causeway to explore West Island. After watching a fisherman pull in a striped bass with the local police waiting idly for something to do, the excitment went downhill. Our walk on West Island was uneventful and after awhile we went back to the boat to take a swim. Our swim progressed into cleaning the underbelly of Bumbre, which was overdue, this in turn got me to dive under the boat and clean out the speedometer to get that working as well.

  • Cuttyhunk Island, Elizabeth Islands

    Cuttyhunk Island, Elizabeth Islands

    Cuttyhunk is the outermost of the Elizabeth Islands in Massachusetts, located between Buzzards Bay to the north and Vineyard Sound to the south. Penikese Island and Nashawena Island are located to the north and east, respectively. The island has a land area of 2.35 km² (0.9065 sq mi, or 580 acres) and a population of 52 persons as of the 2000 census. It is the fourth largest in area of the Elizabeth Islands and home to the majority of the population of the town of Gosnold, Massachusetts.

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  • Summer Loving, June 2003

    Summer Loving, Saturday, June 21, 2003
    For our first voyage from our new home port, we wanted something simple. And since we hadn’t outfitted the boat completely, we needed a destination with a restaurant, or it would be cheese and crackers for dinner. We went down to the boat Friday night in order to wake up on board and head out to our next destination as early as possible: Mattapoisett.

    We ended up leaving around 9 A.M., straight into a northeast wind against the tide. This made progress very slow, it also was our first lesson to watch the tides in Buzzard’s Bay as sailing against them can be a slow frustrating process.

    We tacked back and forth making our way up the the coast from Padanaram toward Mattapoisett. Our speedometer and distance meter, having collected a lot of algae during their idle time, were not working. So we had to guess our speed and how far we’d traveled (I guessed about 10 nm, but it could have been much more). Finally, as we neared the harbor, it started to rain slightly so we turned on the engine to avoid anymore tacks. At 2 P.M. we called the Mattapoisett Boatyard to procure a mooring, which was done in short order. It was the weekend of the Marion to Bermuda race, so many people had vacated their spots.

    Waiting for the vinyl to setThe Boatyard launch came out to meet us and bring us to our mooring: $25 dollars for an outdoor shower and launch service. As we would discover later, this was cheap for a mooring in Buzzard’s Bay.

    After getting in we decided it was time to do something we had yet to accomplish: putting the name on the boat. I had ordered a vinyl name for Bumbré, designed by me for the transom, but had not had time to put in on myself. Now, in the calm Mattapoisett Harbor, seemed like as good a time as any. We hoped, since we’d thought of the name while she was on dry land, the gods of the seas would be kind to us putting it on while she was in the water.

    After we finished cleaning the transom we applied the vinyl sticker and let it sit for around 30 minutes. Then we peeled of the backingAlmost unveiled paper to reveal “Bumbré” for the first time. It came out looking very nice and clean, Bumbré now seemed complete; whereas before she had no identity, she was now identifible.

    Ned’s Point LighthouseAs it got later in the day, we decided to inspect Mattapoisett from dry land. We walked along the beach and watched as people set up for wedding that we’d later hear from our boat, then headed up to the Ned’s Point Lighthouse, but we were too early in the season to go to go to the top of the lighthouse. As we headed back to the boatyard, we walked by the wedding again by the roadside. The guests were beginning to arrive for the ceremony.

    We took a ride for the launch over to town to have a look around and scope out what was the only restuarant in town, the Mattapoisett Inn. We got off at the Town Wharf and headed toward Shipyard Park and its rather tall flagpole. The original flagpole at this spot was the mizzenmast from the last whaler in Mattapoisett, The Wanderer, built in 1878. After years of abuse from lightening strikes and storms it was replaced in 1993.

    Mattapoisett InnJust accross the street was the Mattapoisett Inn, but we keep walking around town a bit before it started to rain. After a quick loop through town we headed in to the inn for dinner. Being the only restuarant around the harbor it was very popular, so we had a seat at the bar and enjoyed a nice meal. Built in 1799, the Mattapoisett Inn is the oldest seaside Inn in the nation. It was consumate “New England,” and its food didn’t disappoint.

    We walked back to the boatyard past the wedding again, which was now in full reception mode. Back aboard we could hear the music and and see the lights, and we sat up enjoying the night until the activities of the day caught up with us and we retired to bed.

    Sunday, June 22, 2003
    Shipyard Park Flagpole We awoke to a cold damp morning and a weather report that did not sound encouraging. We went in to town to use the public bathrooms, so as not to “fill up” ours. We’d had had heavy rain during the night. We finished our duties and headed out, hoping to beat the rain that was sure to come during our sail home. We departed at 8:50 A.M., and by 10:45 we were rounding West Island, not to far from home. The problem was soon after we left the safety of Mattapoisett, the rain started in full. We donned our foul weather gear and soon were in heavy fog as well. This was not shaping up to be a very good day. But we set the GPS and kept going. The rain was annoying, but the seas weren’t overly large, running maybe 2 to 4 feet, and the wind was still from the northeast–so we were running downwind.

    After three wet hours, we were on our mooring and down below packing up. Quickly, we threw everything into the dingy and headed in, and about 100 yards from the boat the rain started full force. I chose to ignore the “No Wake” rule and put our dingy to the test: before we know it, we were speeding through the harbor toward our dry car.

  • Sharing Your Time

    Timeshares It’s not unlikely this will happen to you at some point in your life–whether they contact you through the mail, solicit by telephone or, like my wife and I, you make the grave mistake of entering in a “contest” at a trade show–you may one day have someone try to sell you a timeshare. For us, it was a flyer at a boat show that led to a phone call announcing we had “won” a vacation. That’s the hook: a free dinner, cash, or vacation… one time I was even offered a car. All we had to do to was spend a few hours at a presentation for timeshare opportunities–with no obligation to buy–and the rest was on the house. The woman on the other end of the phone line explained, for a few hours of our time learning about opportunities in the timeshares, we would receive two days in Orlando, Florida, with complementary tickets to the Universal Studios theme park, plus a two-night cruise to Nassau, Bahamas, and two nights in Fort Lauderdale. All we had to do was pay for airfare, pick a date, and everything else was covered. Seems like a win-win situation, right?

    For the record, we had no interest in owning a timeshare, and little interest in vacationing in Florida, but the prospect of a week of warmth and sunshine after one of the longest winters we’d experienced in years had us hooked. So we were on our way. Thankfully, the timeshare pitch was scheduled for the morning of the first day, so we’d get it over with and could then get on with our vacation. As we flew south, anticipating the rides and rays of Universal Studios and southern Florida, we had no way of knowing what to expect from the intrepid timeshare dealers.

    We felt as naïve as the rest of the “prize winners” when we arrived at the Welcome Center the following morning. The timeshares we were looking at were in Orlando, which may be second only to Las Vegas as the best example of hyperreality in the United States. It seemed fitting that the saleswoman took us to breakfast in Celebration, a real-life Pleasantville built by the Disney corporation, where people live in a “perfect” prefab town. All of the houses are Victorian and streets are flower lined with always-green parks running down their centers. Before it was establish, in 1994, the land Celebration now inhabits was wild Florida wetlands. But now the there’s a thriving community with its own golf course, town hall, post office, schools, and Main Street rife with shops, restaurants, and a movie theater. It’s a picture of the American ideal of 1950s post-War prosperity, surrounded by the new-millennium reality of modern existence.

    We sat down to breakfast, and our saleswoman started making chitchat. Trying to be polite and accommodating, we had a pleasant conversation about our travel experiences and more. But I couldn’t help remembering our host was a salesperson and wondered if what my wife and I said now might somehow be used against us later.

    After breakfast it was time for business. From behind the wheel of her company car, our new friend was busy talking up Orlando as the “premier destination in the east.” I imagined our next trip to this play-land city would involve a few small children tugging at our pant legs. Premiere destination? I doubted it. As I came to that conclusion, the car slowed down and our rep pointed to a group of three-story building that was a tree line away from the welcome enter where we started.

    The buildings had the look of ski lodge-type condominiums. We drove toward them and I asked about the much newer looking ten-story building right next door. We were informed that those were “phase two” of the development that wouldn’t be ready to sell for at least a few months.

    Before even looking at any of the units, we had a seat by the pool where our sales rep gave us the low-down on timeshares and their benefits. She focused on the theory of timeshare ownership, using a huge catalog of timeshare properties to explain how we could use our timeshare weeks to travel all over the world–Paris, Australia, Thailand, Hawaii–simply by trading our space and time in Orlando for someone else’s. It could all be there for our benefit, she explained with an excited smile on her face. She was effective in her manner: suddenly my wife and I envisioned traveling to all corners of the world and living in the lap of luxury by using our timeshare in Orlando as “collateral.” Focusing only on positives, our saleswoman flipped through the catalog to all the places we’d talked about over breakfast. She showed us where we could have stayed, had we used the timeshare system. I realized I’d fallen into her trap. My pleasant conversation over the breakfast table was being thrown back at me in the form of beach resorts in the Virgin Islands and magical marketing words like “ownership,” “choice,” and “lifestyle.” But the prospect of it was intriguing, which led us to make another crucial mistake, we asked a lot of questions.

    To be fair, not all timeshare opportunities are scams or schemes. There are many people who own timeshares around the world who know how to make them work. But there are certain basic rules of “timeshare survival” that one should be aware of before spending a lot on a piece of property. The most important factor is location. There’s no use buying into a timeshare in an area that no one wants visit. These things aren’t cheap, but the benefits of having an apartment available to you in a location to which you’ll return regularly will help offset the money it costs to buy into the system. Likewise, you’ll want to be sure your timeshare is in a place others will want to visit, so the theory behind trading your timeshare to use someone else’s won’t find you washed up with no takers.

    Also, be finance-savvy when looking into potential timeshares. Some sales reps will twist and turn the balance sheet of buying into these things until it’s hard to tell what’s a good deal and what isn’t. Pay close attention to the numbers and payment options, know your financial limitations, and never sign anything without taking a few days to think it over. Timeshares are ubiquitous–just because your sales rep tells you it’s a “now or never” deal, doesn’t make that true.

    Back at the poolside, I started to see how, at a different point in my life, I could get a lot out of an investment like this. But it sounded too good to be true. I started asking pointed questions and received scripted answers.

    The pitch is so quick and the answers so natural, there was never any indication there might be problems traveling where and when you wanted. They made it seem like a flawless system, which made me wonder, if it’s so perfect, why don’t timeshares fly off the shelf? As I worked her for more information, she kept working on me for more information she could use in her pitch. She asked questions like, how much do you spend on hotels rooms, restaurants, and vacations in general? This information is lifeblood of the timeshare sales pitch; the more you give a rep, the more he or she will feed on it.

    We were still playing along because we had yet to see an actual unit. That’s when we were led to a two-bedroom condo, comfortable and roomy with the conveniences of home. The American Express slogan, “ownership has its privileges,” rang through my mind, but I knew amenities alone weren’t enough to sway me toward purchasing.

    Then the real selling began. Our rep had been gauging the likelihood that we’d purchase from the moment we sat down at breakfast. Unfortunately she thought she had a live one. We left the model and walked to a large room filled with round tables surrounded by families with their kids crawling all over while their parents debated the wonders of timeshare ownership. We were now two hours into our tour and hoping a quick “no thanks” would suffice to get us out of there.

    No such luck.

    After rehashing some of the earlier information, it was time to look at the numbers. From our previous musings our rep had calculated we’d spend over $30,000 on hotels rooms and accommodations over the next twenty years. Then she told us the unit we’d seen had a price tag of only $21,000–less than I expected. But it seemed, because the phase-2 units were still under construction, the company offered a discount for the older ones. She promptly lowered the price to $16,000. This was the catch: the deal was good for that moment and only that moment–once we left it on the table, it would be gone. Immediately alarm bells sounded in my head. If this was such an excusive deal, what would have happened if we had come down in October instead of April?

    Sensing trouble, I insisted there wasn’t anything she could say to get me to purchase a timeshare in the next fifteen minutes. Unphased she continued going though the numbers. There was the yearly maintenance fee of $305, and the financing at a hefty 17.9%, a rate that wasn’t openly stated on the numbers sheet she’d given me minutes before.

    I was frustrated and she knew it. That’s when she introduced the mortgage “expert,” a guy about my age (30 years old) who seemed to have as much expertise in mortgage lending as I have in quantum physics. He proceeded to give us the exact same sales pitch our rep had not long before. We found his expertise consisted solely of extending payments beyond the original ten-year term, but at the same 17.9% interest rate. It was like being offered a loan by the very person who’d just stolen your wallet. He left us to think about it.

    My wife and I thought about walking out, but they were holding our vacation hostage– they give you vouchers for each consecutive part of your trip only after you’ve endured a complete sales presentation. If we left now we would be stuck in Orlando with no place to stay. That’s when I realized, nothing here was free.

    When our intrepid salesperson returned, she told us we would have an opportunity to see a unit in the new building, the one still under construction. This was the beginning of a very a dirty trick. They told us these units were a whole new “concept” in timeshares. She’d obviously sensed we were ready to leave.

    For an unfinished building, it certainly appeared complete. There were people in the swimming pool and not a workman or construction vehicle in sight. After a trip up to the top floor to see the view of Disney World, we were led into a unit that was a step above the other, older, one. It was a two-bedroom as well, but there was an option to divide it into two one-bedrooms with a partition. This, she said, offered all sorts of head-spinning options: turn a one-week timeshare into a two-week “opportunity,” by using only half of the unit at a time. My immediate reaction was one of disbelief–she had moments ago tried to sell us a vastly inferior unit, and showed us this one only because we were unwilling to buy the first.

    Back at the sales table, our rep and the mortgage expert were tossing around numbers that seemed unreal: $24,000 for the newer units; discounted to $14,000; and again to $9,000 for no apparent reason. Then they said we could find our own financing to avoid the high interest rate. Before long, I wondered if they’d just give us a unit for free. The whole procedure was seemed very unethical to me.

    Their catch was this: as the price continued to plummet, so did the amount of time we’d be allowed to use the timeshare. Plus, the units came with confusing “bonus weeks,” which implied we could extend our time over two or three years to avoid paying the maintenance fee of $505 a year.

    Lost in all this wheeling and dealing was any fine print that might unravel all of these “perks.” Dissatisfaction was written all over our faces, and finally, they said, they just wanted to ask us a few questions about the process, then our rep would take us back to the welcome center to pick up our ransomed vouchers. But this so-called exit interview proved to be the beginning of yet another sales pitch! A new rep sat us at a new table and proposed new deals before rudely announcing this was not for us. We looked at each other with bewilderment, stood, and left.

    As the trip went on we would cross paths with many of the people who had been part of the same program as ours. We discovered their stories differed little from our own. Not surprisingly we met no one who purchased a timeshare.

    The moral of the story? Don’t be completely averse to the possibilities that a timeshare might offer, but use common sense. Don’t fall victim to the kinds of unethical and heavy-handed sales tactics designed to make a bad investment sound like a one-way ticket to paradise. To use a cliché that’s earned its status as such: if it sounds too good to be true, it probably is. If you have any questions about this story or would like more information about Travel Outward, contact us.

  • Maiden Voyage, May 2003

    Maiden Voyage, May 2003

    Hingham to Hull; Saturday, May 3, 2003
    Hull’s Windmill protecting the Gut We bought our sailboat in November, but by May we had yet to take her for a sail. As I explained to my nervous wife how to release the dock lines we prepared to for our maiden voyage. It was nothing much really, just a nice sail around Boston Harbor, then an overnight in Hull, Massachusetts, at the entrance to Hingham Bay, but since we were departing from Hingham, this wasn’t the most ambitious plan. We just wanted to start to get to know our new friend a little.

    After a few nervous looks Jen jumped off the dock onto the boat and we were off, motoring out of Hewitt’s Cove toward open water. After a long motor we raised sail while we rounded Hull’s windmill and quickly got up to five knots. The wind was light as we continued on toward the Boston Headlight. After about a half hour the wind died and we were forced to take down our sails and motor around the harbor islands. As we neared Graves Light the wind picked up again, so we raised our sails and continued with our shakedown. But as quickly as it came back it died again. By now we had been out for a couple of hours and we decided to head back in through erratic winds and alternating between sails and motor.

    Boston HeadlightBeing early May there weren’t many boats out–our attempts to raise a harbor master on the radio fell on deaf ears and as we headed into Hull Harbor unannounced. We wondered what to do. Not having a dingy on board yet we wanted to be able to tie up to a dock, at least for a while, before grabbing a mooring that would certainly not be used by anyone until the true boating season started. Once inside the harbor I drove around in circles trying to get a sense of where to go. My wife had no idea what I was doing and was thoroughly confused. Knowing that whoever was on shore was certain to be watching me I knew I had to come up with a plan.

    Graves Lighthouse, named for the ledges on which it sits called The GravesAfter aborting my first landing attempt, we decided to tie up to a floating dock in front of a nondiscrept one-story gray building. We pulled up to the dock quite smoothly and sat back to admire our handwork. There were a few people around the dock and we hoped that they would not ask us to move along, our aim was to stay tied up for the night so we could walk around and check out Hull.

    My wife, wanting to avoid using the facilities on the boat, went down the dock to find a better option. On her way, she asked a man if we were ok to tie our boat up.

    “Sure nobody should bother you there,” he said, followed by “bars open inside.”

    Nantasket Beach Saltwater Club from there dockAfter cleaning up the boat we decided to go up to the bar and find out if there was a place to eat close by. We stepped into the large open room with a bar in the far corner. As we entered, everyone at the bar turned there heads to inspect us. It felt like an audition–like in the movies when a stranger enters the room and the record scratches to silence; not phased I stepped right up to the bar clandestinely eyeing what the locals were enjoying and ordered two for us. To neither of our surprise, it was Budweiser–the King of Beers. As soon as we cracked our cold ones, the nice gentlemen who Jen had spoken with earlier immediately turned around and asked where we were from.

    This was the beginning of what was to become our long introduction to the good folks of the Nantasket Beach Saltwater Club. We were signed in as official guests of the club and given permission to lay up on the dock for the night. The members told us that we may be better off on the inside of the dock as the lobster man tend to head out early in the morning and tend to ignore the “No Wake” buoys. We headed down to move the boat only to find that most of the bar had come down to help us drag Bumbré around the dock. As a group, we made quick work of the move and were soon back at the bar swapping stories.

    Sunset at Dock in Hull, MAThe Saltwater Club, as it is known by the members, would never be confused with other yacht clubs of Massachussetts. It is housed in a simple one story shingled building, painted gray, and situated right next to the much more upscale Hull Yacht Club. In faded paint you can still see the name of the Saltwater Club as it was once proudly announced. Inside the building, which used to be the Hull Post Office, is a large room filled with folding chairs and tables, and housed at one end is the bar. Inside the Saltwater Club is a close knit group of locals from the Hull area who share a love of sailing and other water activities, but without the seriousness and exclusivity of other yacht clubs.

    As we sat listening to the exploits of our new friends, we were impressed by the sense of community. After a few beers we decided to order some dinner from a local restuarant and enjoy our first meal on the boat. We were welcomed back after dinner like old friends, as the members regaled us with more and more stories. The night wore and the bar was near closing; as we said our goodbyes, we were encouraged to join the club. By that time we were only considering getting into our bed, which was just a short walk down dock.

    SundayWater tower on top of Telegraph Hill May 4, 2003
    We woke up on a chilly morning, only rocking slightly when the lobstermen headed out early. We had a little breakfast and decided to walk up Telegraph Hill to Fort Revere. Then we got ready for the quick trip back to Hingham. We headed out of the harbor with the sun in our faces; looking back we, felt sad to be leaving a place that in such a short time had shown us so much hospitality. We felt very fortunate to be able to come out and experience it before the crowds of July and August made some of that goodwill inaccessible.

    Forced Movement: Hingham to South Dartmouth; May 16, 2003 – May 18, 2003

    Crew list:
    Harman Stinson (Captain)
    Jen Stinson

    Miles travelled: 350 (approximately)
    Engine hours: 11
    Sailing hours: 11

    Friday, May 16, 2003
    After having the luxury of a slip for a whole month Hewitt’s Cove Marine started to fill up with boats going in the water. We knew we had to move soon, but all week we had been looking at the weather and it did not look good. All weekend we were due to have a northeast blow and anyone from New England knows that a northeast wind usually means high seas.

    Our plan was to head out midday on Friday to hopefully make it down to Scituate or Plymouth that night. By the time we drove to our temporary marina, the skies were gray and uminous, but we decided to head out anyway to see what it was like outside the protection of the harbor.

    Once on the water, the wind picked up and the seas were high even with the barrier of the harbor islands and Hull. This–combined with the fact that, to my surprise, I had forgotten our charts at home–forced us back into the marina where we were faced with the broker who sold us our boat. I knew what he was going to say before he even said it. We had used up our free ride and if we stayed any longer we would have to start paying the marina. Our options were few: we were told that to stay in the marina we would have to move to a mooring at a cost of over fifty dollars a day. This was too much for us, and we headed home to collect the charts, check the weather report, and try again tomorrow.

    Saturday, May 17, 2003
    Minot’s Ledge Lighthouse The next day the weather report talked of 4- to 6-foot seas but with a dying wind in the afternoon. I somehow convinced a very nervous Jen that we should just go for it. So we untied the lines at around 10 o’clock and headed out. The sky was gray and there was an occassional sprinkle of rain. The 20-knot winds did nothing to improve Jen’s confidence but we plugged on. Unfortunally we had to bash into the wind until we got around Hull, where we could get the sails up. As slow as it was heading into the wind toward the Boston Headlight, we continued on our way. But once we started to head south, the waves really picked up. We put up the main and settled into our positions, me at the helm and Jen sitting in the companionway ready to duck below at the first sight of any water over the bow.

    Sailing toward Plymouth as the weather breaksI steered through the wind and waves singing and laughing, trying to make light of what, for my wife, was a very uncomfortable situation. We were closing in on Minot’s Ledge Lighthouse. At about 12:45 we rounded the lighthouse, where the waves were between 4 and 8 feet and were close together and tended to toss the 28-foot Bumbré around quiet a bit. This combined with the standard noises, gets Jen nervous about the sound of water below. So she took the wheel while I got below to stick my head in the bilges and close any outflows that may have been left open.

    Entrance to Plymouth, MAWith no leaks found, I have broken rule one in avoiding seasickness: never go below in rough weather. Feeling a little queasy I decide that maybe forcing some lunch down might help. This meant I’d have broken rule number two as well, to keep properly hydradated and eat during a long voyage. Soon after my snack I decided it would be better to get to the windward side of the boat to purge whatever I might need. After getting rid of the stomach contents, I felt much better, except I now needed a good tooth brushing.

    As the afternoon went on, the sun started to shine, and the weather broke as we closed in on Plymouth. We had read that it was a long hall down the Plymouth River to Plymouth Harbor, but as we headed in we relized we were also heading against the tide. Our long journey in had just begun. We negotiated the thousands of lobster pots near the breakwater and started in, heading toward the Duxbury Pier Light, also know as Bug Light.

    Duxbury Pier Light (Bug Light)As we rounded Bug Light we started to get out of the tide a bit and make better progress. Avoiding the shallow tidal pools and marshes that line the channel to the harbor we went around the breakwater and started looking for a mooring. Our slow progress into the harbor meant it took almost 2 hours to get inside the breakwater. Once there, we grabbed a Plymouth Yacht Club mooring at about 6:30 P.M., ending a long day of bashing down the coast in the strong wind and waves.

    We were tired and hungry and after eating dinner we quickly headed back to the boat, too tired to check out Plymouth more closely than a brief walk into town and a meal at the Weathervane. Back at the boat we were quickly tucked into the cold forepeak and asleep before we knew it.

    Sunday, May 18, 2003
    Plymouth Lobster BoatThe next day, we enjoyed a sunny morning in the harbor. Since the tide in the Cape Cod Canal was going to be against us until midmorning, we were in no rush to head out. As we sat there eating our breakfast, we notice the lobster boats that dotted the harbor. Some were already headed back in from their morning’s work. We left around 7:45 A.M. heading toward the Canal during on this beautiful day–a far cry from yesterday’s travels.

    Eastern Entrance to the Cape Cod Canal After a long motor out of Plymouth Harbor, we started south and at about 12 o’clock we entered the canal. As we sailed down the coast, I started to remove Bumbré’s old name from the stern. Breaking yet another old maritime rule that states, if you are to rename a boat you should do it while the boat is laid up on dry land. I disregarded the rule, and slowly “Santiago” became “antiago.” By now we were nearing the canal. As we started in we, kept up our jib because we had some wind with us. Having driven over the canal hundreds–maybe thousands–of times in my life, it was exciting to be traveling underneath the bHeading toward the Bourne Bridgeridges I had only been able to look down from. As we motored through, we had some lunch and before we knew it we were approaching the railroad bridge at the western entrance.

    Before we knew it, we were shooting out into Buzzard’s Bay, sailing past Marion’s Bird Island lighthouse and toward South Dartmouth. We had entered into the canal worried that we wouldn’t transit it in the prescribed time. But within an hour we were headed out the other side. We wereVertical lift railroad bridge in the final strech of our journey to Bumbré’s new home, and Jen had survive a rough first day and was now enjoying a perfect sail in Buzzard’s Bay. We hugged the coast past Cormorant Rock and West Island then started a direct course toward Padanaram.

    Apponagansett Bay, South Dartmouth a.k.a Padanaram (NOT FOR NAVIGATION)As we pulled into Apponagansett Bay we began to search for our mooring. We had gotten vague directions, but once we entered the harbor we realized this was going to be harder then we thought. The problem was that Padanaram is one of the more popular harbors on Buzzards Bay, which means there are many, many moorings to navigate through. Since it was so early in the season almost none had boats on them yet, and we were weaving back and forth among them looking for the correct number. Mooring fields are suppose to be arranged in numbered rows, but since dropping a heavy mooring to the bottom of a harbor is an imprecise science they do not always end up neatly. Jst when we began thinking in terms of futility, we spotted it: 59-3A… We were home.

  • New Orleans JazzFest 2003

    New Orleans JazzFest 2003

    At the New Orleans Jazz and Heritage Festival you’ll find many crafty veterans marking their location in the crowd with unique flags, so as to find their base camp from a distance. Here is a sampling of some of the hundreds of flags you’ll see flying throughout the festival.

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  • Nassau – Bahamas

    Nassau – Bahamas

    Nassau is the capital, largest city, and commercial centre of the Commonwealth of the Bahamas. The city has a population of 260,000 (2008 census), nearly 80 percent of the entire population of The Bahamas (330,000). Lynden Pindling International Airport, the major airport for The Bahamas, is located about 10 miles (16 kilometres) west of Nassau city centre, and has daily flights to major cities in the United Kingdom, United States, Canada and the Caribbean. The city is located on the island of New Providence, which functions much like a federal district. While there is no local government, it is governed directly as an administrative division of the national government.

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  • Monthly Commentary – March 2003

    My work tells me the market is not going anywhere, and if it does the direction is likely to be down. We are probably in one of these extended flat periods that can serve as an alternative to a gut wrenching bottom. I hope so, but what is the evidence we may go down?

    First, this appears to be a major bear market in the category of 1929-1932 and 1973-1974. Such declines are marked by major changes in the economy and the way the investors perceive equities. So far there is evidence of important change in the economy, though it is probably not yet reflected in stock prices, but investor perceptions have barely begun to adjust. The lack of attitude change is reflected in the way high technology stocks lead every rally, even though their earnings remain terrible and pricing high. High tech products continue to sell well, Dell for instance is selling more computers every year, but profits are down. That is not the magic formula to success, but you would not know it from the price of Dell’s stock.

    Wall Street thinks it is 1994, with its strategists recommending high equity exposure, and cash in mutual funds at low levels. Investors are waking up, but their minds are still influenced by Wall Street bulls. Bull/bear opinion statistics are positive (heavily bearish), but the all day stock market show has a parade of money managers selling the bull case. Mixed into the bull crowd are a few quiet bears. I suppose it is because I share their point of view, but these people sound thoughtful and intelligent, while the bulls sound like they are pushing stocks for a living. It is also comforting to have Warren Buffett and John Templeton in your corner (maybe you have to be seventy and have gone through a previous secular decline to get a feel for these things).

    The consumer held the economy together, but now consumer support is weakening. The downtrend in consumer sales gains has not reached zero, but getting close. It could weaken further with employment numbers making no progress and an indication consumers are tightening their pocketbooks because of worry about the future. Some of this tightening is from necessity, revealed in high and rising credit card and other consumer credit delinquency. The buying inspiration from no interest loans is old hat now. More directly, the great mortgage refinancing boom that injected hundreds of billions into the economy in the last two years appears to be over. Lower long term interest rates would extend refinancing, but that is likely only if the economy weakens, so the medicine is worse than the cure.

    Experienced hands have an uncomfortable feeling about the strength in housing. Every instinct says it can’t last. Enthusiasts say there is no housing bubble, but if not a bubble certainly a boom. If it ends, important support for the economy is removed. Some of the housing boom comes from conversion from apartment living, but apartment vacancies are rising and rents falling, so the mathematics is working against the trend. An end to the housing boom could mean trouble because, not only would the money coming out of refinancing disappear, but prices are likely to weaken, reducing the wealth affect and discouraging consumption. Housing will probably level off or slump a bit, not a catastrophe, but adding to the sluggishness of the economy.

    The dollar is going to weaken further, perhaps substantially. The happy folk say that is great because the trade deficit will ease as foreign goods rise in price and domestic products become more competitive, but the dollar is already off a lot and the trade deficit continues to rise (many far east currencies, notably China’s, are pegged to the dollar). The trade deficit guarantees that foreigners will be getting a large dollar inflow, but the weakness is leading to unloading those dollars.

    Our image as the land of opportunity has gone up in the smoke of internet and high technology disintegration. The exploding deficit is not a confidence builder, and our fecklessly aggressive foreign policy is alienating the rest of the world. Not only does this leave us isolated to pick up the cost of the foreign ventures, but it strains any desire by the rest of the world to help us out. We are in a bind. We probably ought to be raising taxes, but can’t in a weak economy, and Bush is so committed to tax cuts he would never reverse course, especially as his father’s responsible tax increase may have defeated his second term. Assuming Bush gets a second term and vigorously pursues the war on terror, we will be breaking new ground on deficits with unknown consequences.

    We have no trouble financing the exploding deficit at the moment, but suppose the economy picks up and there is demand for money. The right wing economists claim deficits have no influence on interest rates, citing the experience of the last year, but that is ridiculous, of course rising deficits influence interest rates. If the economy picks up enough to create demand for money, interest rates could go up rapidly.

    Then there is fiscal policy. A swing from a couple of hundred billion surplus to several hundred billion dollar deficit and interest rates going from over 6% to 1 1/4%, has merely succeeded in ending the decline. These numbers suggest that our problems are not the traditional ones. We are suffering a hangover from the greatest speculative blowoff of all time. Bush has no ideas for directly countering this drag. His only proposal is lower taxes, mostly for the upper brackets, under the theory they produce greater savings and greater investment, the old trickle down that lifts all boats. But upper bracket taxes were far higher during our years of greatest growth. There seems to be no connection between upper bracket tax rates and investment, it is a matter of opportunity, not tax rates. Good investments will find funding.

    With Wall Street having directed investment dollars down a rathole of sexy internet and non-earning high technology companies, and talked industries like utilities into idiotic diversifications, while the government acts like a spendthrift with low return weapons, we are not getting much return on capital. The apparent absence of good investment opportunity expresses the hangover of the speculative bust, and in time will correct, though less so than in the past because we are a mature economy.

    Not only are investors turned off by losses, the lack of investment opportunity in the U.S. is influenced by, to use one word where I mean many, China. We may be a consumer economy, I think the data is that industrial employment is only 15% of the total and industry makes up only 30% of GNP. It is a precious 30%, however, and the 30% is eroding. I wonder, what percentage of the products sold in Wal-Mart comes from abroad? And what is the trend? We bought a stock called Salton a few years ago. Salton has become the king of kitchen appliances, an original American business. GE, Westinghouse, Sunbeam, and many others in kitchen appliances, are disappearing, some of the brands names bought by Salton. Everything Salton sells comes from China, or a neighboring country. George Foreman grills, new innovative stuff, it all comes from China. Though undoubtedly included in our industrial base, Salton is not a manufacturer, it is a distributor of Chinese goods. We have been able to hold onto larger appliances like washing machines, ovens, and refrigerators, but GE is planning to get out, just as it did small appliances. Is there a message? Have you seen a U.S label on any item of clothing in recent years? Textiles, the foundation business of the industrial revolution, now going. We did save the automobile industry when it seemed headed abroad, so it isn’t a battle we must always lose, but we are losing.

    I feel the change when it comes to picking stocks. There is nothing exciting out there any more. I feel as if I am picking over the same old tired lists, looking for a stock whose only attraction is its price. Perhaps declining opportunity is why investors lost their head over internet stocks, though the absence of profits told experienced hands it made no sense. I recall visiting WD-40 thirty years ago when it had six employees and distribution only in the west. The opportunity was easy to see, the product was simple, and the manufacturing process was two men stirring a not very large vat in the back room. We hit a home run with Movie Gallery, but that was a special case of combining a weak market for small company stocks and recovery from a troubled period, allowing us in at an extraordinary price. There will be more of those, but how much better to find consistent growth companies. Movie Gallery has a couple more good years, but its market is tenuous, it’s not something to lock away in the safe deposit box. I see opportunity in health care, HMO’s for instance are very cheap, but the medical care area is in a crisis of rising costs, and HMO’s have not proven to be the hoped for answer.

    Being a price opportunist, I operate well in a flattish market, but I hoped a major bear market would allow us to get into solid long term situations in my old age. Drugs, maybe, but the growth rates are skidding and they are coming under more and more pressure because of runaway health costs. Remember how drugs plunged under the Hilary threat in 1993 and 1994? Well, we are going to end up with a Hilary-like plan to control medical costs (though not under Bush). Considering everything, I think it will be a break if the market follows the hinted direction and goes a lot lower. Then we can get the opportunity to make real money before I lose my eyesight. Maybe I should become an expert on China, but its too late to teach an old dog new tricks. Besides, those guys who claim to know all about foreign stocks don’t do as well as I do.

    I have been too gloomy lately. Next month I will write about the good stuff. I smell a good year out there, if I can avoid losing too much of your money first (we are off 4-5%, not bad considering that our companies are issuing one bad news bulletin after another, though discouraging with a 30-35% cash position and another 20% in conservative high dividend payers).