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May 20, 2011     Post-Gazette
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Page 4 POST-GAZETTE,MAY 20,IZ01 i PRESIDENT OBAMA GETS NO BOUNCE FROM MEN FOR BIN LADEN&apos;S DEMISE Opinion of President Obama fell after Obama's key decision to take out Bin Laden. Men are least likely than women to vote for Obama with men at 49%, women at 55%. More women than men identify with Democrats. Men's unem- ployment rate at the highest rate since Obama took office in January 2009. Their un- employment rate is 9.4% ver- sus 8.4% for women and men have suffered 2/3 of recession related job losses. The NASDAQ led the major indexes with .6% gain as technology stocks gave it a boost. The S&P500 and the NYSE added .5% off its Feb- ruary high as oil, gold and silver recovered somewhat from early weakness. Dis- count apparel retailer Ross Stores marked a new high as it jumped 2% in double volume. Cisco Systems fell this week after projecting that 4 th quarter revenue growth will be fiat to possibly up .2C/share. CEO John Cham- bers laid out plans to cut jobs and exit businesses. The networking giant cited price pressures for meters and switches, which direct Internet traffic. Analysts expected 7% sales growth in the fourth quarter. Boston Scientific Corp. disclosed that its CEO Raymond Elliott will step down at the end of the year. Elliott was hired in June 2009 to help revive the firm's fortunes after its ill- fated takeover of Guidant Corp. News of Elliott's depar- ture caught investors off- guard; sparking uncertainty on a company many thought was turning the corner. Last week the company won a $19 billion patent infringe- ment suit from Cordis Group. Boston Scientific had sued Cordis for $34 million. The Federal Government is expected to hit the $14.3 tril- lion debt limit next week. The U.S. Treasury can take measures to hold off default- ing on government debt until August. Vice President Joe Biden and a group of biparti- san legislators are negotiat- ing a deal to raise the debt limit. On Friday the Presi- dent met with GOP Senators to discuss the budget. It was constructive they said as everything was on the table including Medicare. If Congress does not pass a budget within the limits, automatic cuts would kick in. Congress could only over- ride them with a 2/3 major- ity vote. Senator Harry Reid ,L_ [__( Matt6o GaUo Appraisals J{. Sales & Rentals Real Estate 376 North Street * Boston, MA 02113 (617) 523-2100 Fax (617) 523-3530 Constitution Cooperative Apartments APPLY NOW! 1-800-225-3151 Constitution Co-op located in the heart of City Square in Charlestown offers: Rent based on 30% of income (income limits apply; utilities included) Studio and one bedroom apartments for seniors and mobility impaired individuals over the age of 1 g who qualify Lounge area on every floor for socializing and meeting A chance to participate in the management and decision making process Location along MBTA busline Community Room with kitchen facilities and onsite laundry facilities Wonderful neighbors and new friends says that the only fair way to cut the budget and spend- ing and to make the tax code a little fairer, but we must cut spending according to their growth rates, entitle- ments would be cut also. Senator Hatch has proposed a balanced budget amend- ment that would require a cap on outlays at 18% of GDP. This would require a 2/3 vote of Congress to raise taxes. No Democrats have signed on to this balanced budget amendment, sug- gesting that it has no chance of passage. President Obama proposed a deficit trigger last month that would rely mostly on automatic tax hikes. Republicans are demanding major spending cuts in exchange for lifting the debt limit. There's some bipartisan support for pass- ing strict spending limits. Spending caps are gaining support as CAP Act spending cuts would hit all outlays including entitlements. The 10-year U.S. Treasury is priced to yield @ 3.23%, plus .2%. The dollar is stron- ger. High oil prices are from the oil companies and speculators according to a new poll. The economist point out that oil is a global commodity produced by a multiple of competing com- panies. Studies by the FTC and other agencies have failed to find any evidence of fraud or manipulation. President Obama set up a working group to see if mar- ket manipulation played any role in today's gas prices. The U.S. to sell 9 billion AIG stocks, which owns 92% of the bailed out insurance company, and another $45 million in overallotment fees as it tries recoup the $182 billion it provided to AIG in 2008. Neither speci- fied a price/share as shares climbed to $30.65/share. Intel the world's largest chipmaker raised its quar- terly dividend to .21, the second increase in six months. In November the company is on track to grow revenue by more than 20% raised its dividend by 15%. Last month Intel reported $3.5 billion posted with the $3.5 billion it paid out in 2011. Social Security and Medi- care payments continue to worry as both program funds have deteriorated. Medicare funds will dry up in 2024 according to the U.S. Trea- sury Department. Social Security should last until 2035 under president cir- cumstances before the money runs out. It's time to call your financial advisor or call me at 617-261.7777. I DIAMONDS 1 ROLEX ESTATE JEWELRY Bought & Sold Jewelers Exch. Bldg. Jim (617) 263-7766 by Sal Giarratani "<.   Looking for Life's Lessons from Quotes on a Shoebox Recently, a letter to the edi- tor appeared in a daily news- paper shortly after those U.S. Navy Seals took out bin Laden in his Pakistani residence. We've been looking for Osama since September 11, 2001 when those planes took down the Twin Towers in Manhattan. The letter writer was a college student with all the wisdom of college stu- dents. The writer philoso- phized that his generation was shaped by the 9/11 at- tacks when he was a young kid in apparent middle school. Now as a young man in college, he cheered the taking out of bin Laden. One would have thought this gen- eration of young people was undifferent than any other generation. As a baby boomer that went through 9/11, the Kennedy assassination, the Civil Rights struggle and the Viet- nam War, I once too thought my generation was special. I remember being in the 7th grade when Jack Kennedy was elected president. I also remember being in high school on November 22, 1963 when he was killed in a Dal- las Motorcade. I was in col- lege when both Dr. King and Bobby Kennedy were killed and I celebrated my 22 nd birthday listening to those news reports of four college students shot dead at Kent State University. I can still remember the music from that era. There was one song whose lyrics went "time in a bottle." Time passes by so quickly and you see this if you found a note in a bottle which might wash up on shore. Pull out the note and it could be nothing at all or something very special. Well, sad to say, I've never found a washed up bottle on the sandy beach containing a long ago note within but I did recently find a shoebox containing two great quotes. One quote from Ben Franklin read, "When the well is dry we know the worth of water." The second came with even more meaning, "The signifi- cant problems we face can- not be solved by the same level of thinking that created them." This one written by Albert Einstein. Younger people of each generation drown in their own idealism while old gen- erations like mine become more cynical with passing time about discovering new insights not already discov- ered by earlier generations. My generation lived through much conflict both on the battlefields of war and in the conflicting conflicts we live with every day. What is good? What is bad? What is neces- sary? What is fair? What is acceptable? What upsets us? Ben Franklin was correct. Water is only recognized as really important when we're suffering through a drought when we need it and cannot get it. Recognizing what we dream of or for is a bit harder to understand. When we say why they don't see what we see, it means we think we see it all. Albert Einstein's quote makes even more sense for today as it was back in his day. We can't solve or com- prehend problems if we only muster up the same level of thinking that created them to begin with back at the starting gate. I'm glad today's younger people are showing good in- sight into recent history and trying to understand a mad- man like bin Laden. Every generation sees itself as the great hope of the future. Ev- ery generation has all the answers until all the an- swers stop coming. I'd like to think there will be no more Osama bin Laden's out there, just like I had hoped 50 years ago that all the Adolf Eichmann's were gone too. The Agency for all your Insurance Coverages Richard Settipane AUTO HOMEOWNERS TENANTS COMMERCIAL Experience makes the difference SPECIALIST in RESTAURANT and BUSINESS POLICIES CALL TODAY FOR YOUR QUOTE 617-523-3456 - Fax 617-723-9212 1 Longfellow - Place Suite 2322 - Boston, MA 02114 Conveniently located with Free Parking