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July 31, 2009     Post-Gazette
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July 31, 2009

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Page 4 POST-GAZETTE, JULY 31,2009 =; u; Ben Doherty STOCKS RISE ON HOUSING, PROFITS Upbeat home sales and earnings reports sent stocks up broadly in heavy volume. The NASDAQ rose 2.5% ex- tending its winnings to 12 days in a row, the Dew rose 2.1%, the S&P 500 rose 2.3% and the 10-Year U.S. Trea- sury Bond rose 16 ticks to yield 3.71%. The NASDAQ notched its new high, the highest since December 1991 and January 1992. The volume was up 30% across the board. This upstaged the little bit of market wisdom. "Sell in May and go away." So far the bulls have turned that notion upside down. Some stocks didn't partici- pate, not a good sign when leaders stumble while the Index rises. After hours last week, Baidu which was up recently, reported after hours beating the earnings/ share and revenue, and the stock jumped in the day ses- sion. Microsoft and Amazon matched its performance. Microsoft fell 8% on Friday on missed sales and Amazon missed on revenue and sold off 7%. American Express fell 4% on Friday also. Other stocks missed on sales and on earnings including Good- rich. Amazon is still on a tear, and growing like crazy. Second quarter earnings rose 42% after growing 60% in the first quarter. Micro- soft online sales rose 5.9%, and 19.8% in the first quar- ter. Amazon is growing faster as people get price conscious. It is also going well with its Kindle e.reader, a high margin item, and is becoming a high-demand item, waiting 4-6 weeks for delivery. Microsoft results disappointed investors as fourth quarter earnings were worse than expected casting doubt on whether a recovery in tech spending is near. The company did meet expectations on profits, mi- nus online charges. Micro- soft is counting on Windows 7, to make consumers forget its Vista system which is plagued by slow performance and compatibility problems. Its new system is designed to make Web searches faster and more efficient by using categories to make it better to compete with Google. EBay reported earnings of a .37% profit, a penny above the es- timate of analysts. Our core business is stabilizing with the economy, said CEO John Donahue, last week. At least nine analysts have set EBay up to have a good second half. Trading volume rose to 57 million shares, triple the average. Lazards' Sebastian said "that EBay has under- performed its internet com- parables, because of skept- ism over its market place," and is likely to close over time." AT&T profits fell 14% to .54C/share with Iphone subsidiaries cutting into profits, but AT&T continues to grab higher spending customers in a more com- petitive phone market. AT&T's stock closed at $25.48/share, a two month high. AT&T added 1.37 mil- lion wireless phones in the quarter with 1/3 of them new subscribers. Apple cut the price of its older phones to $99 and rolled out a new model on June 19 th, the GS. AT&T lost 921,000 residen- tial customer lines in July 2009, as customers switched to cable TV service or wire- less. Analysts expect dis- counts have taken subscrib- ers with sub $50 plans and slowed AT&T sales. AT&T added 627,000 workers in the second quarter up from 427,000 last year. TracFone rents airtime on AT&T's net- work, and came out with a $45/month unlimited plan using Verizon Wireless. That could slow AT&T's wholesale growth, but AT&T could ex- pand with pay TV services expanding. Analysts expect cable TV to report higher than usual sales as it is sub- sidizing the cost of PCs mini laptops in retail stores. NetFlix posted second quarter results that soundly beat analysts' earnings, but it missed on revenues. The DVD by marl order profits rose to .54 from .45 last year beating estimates by .04. Revenues rose 21% to $40.85 million just shy of analysts' estimates of $409.7 million. NetFlix ended June 30 th with 10.6 million sub- scribers, up 3% from its first quarter and up 26% from last year. Michael Pachter, analyst with Mor- gan Stanley said, "It's a cer- tainty that the strategy of NetFlix is to be acquired." Apple could also be an acquirer as is already a part- ner with Xbox Line service, an Apple, NetFlix subsidiary. It's time to call your financial advisor or call me at 617-261-7777. by Recently we opened an old cook book that has sat in the kitchen for years. Mom re- ferred to it off and on but for the most part it remained unopened. The book is the eight edition of The Boston Cooking-School Cook Book by Fannie Merritt Farmer, and is dated 1947. It was the basic cook book used at cook- ing classes held at the North Rapine Memorial Home 9 Chelsea St., East Boston 617-567-1380 Kirby-Rapine Memorial Home 917 Bennington St. East Boston 617-569-0305 Dino C. Manca Funeral Director A Family Service Affiliate of AFFS/Servce Corp. Int'l 206 Winter St. Fall River, MA 02720 508-676-2454 Self Reliance Bennett Molinari and Richard Molinari Bennet Industrial School in the 1940's. Mom attended classes taught by Mrs. Dunn that were both instructive and fun. The women would cook up a storm then sit around socializing with their kids in carriages while munching on the day's cook- ing lesson. What is so striking about that cook book is how basic it is in style and complete in content. Unlike most cook books published in recent years, the book is neither in color nor does it have beau- tiful photographs. It is sim- ply a nicely laid out book in black and white with the occasional simple line draw- ing to better illustrate a par- ticular subject. It gets into basic cooking as well as some very sophisticated Available 9/1/09! In East Boston Large 2 Bedroom $925./month 249 Bennington Street Please Page Alex 781-226-1235 Disponible Ahora! 2 dormitories grandes $925./month 249 Bennington Street Per favor Page Alex 781-226-1235 dishes and even more sur- prising how to make many of the ingredients that it rec- ommends for a particular recipe. The book offers a wide variety of recipes along with variations on the recipe and also gets into canning and preserving food. We followed the instructions and found the food that we prepared to be excellent which is saying a great deal about the book since we have had little cook- ing experience. We then found another book from the late 1930's that gave instructions on how to make cleaning and polishing products such as glass cleaner and various wood and leather polishes. We pre- pared some of the products and found them to work well. The books inspired us to call a friend of ours who has spent two months of the year for the last thirty years on an island in Maine living in a log cabin he built with his wife. They have no electric- ity and few amenities, a well supplies their water and their bathroom is an out- house. When not in Maine they live very comfortably in the Berkshires. Chris, now (Continued on Page 15) by Sal Giarratani  ..... Tore Down My Childhood and Turned it rote a Parking Lot "Hey, every boy deserves a puppy. Tell your father it's a present from me to you." -- State Representative Charlie lannello, (D} St. Philip's Parish St. John's Day, June 24 th, 1950. I grew up back during the fifties and sixties in a patch of land, the city called Lower Roxbury, but what was referred to as St. Philip's Parish. Our main street was Harrison Avenue. At one end stood Boston City Hospital and at the other Dudley Station. It was a very diverse neighborhood. We had Irish, Italian and black families living together the way we lived together back then. There was a distinct Italian neighborhood near- est the church. There was an Irish neighborhood up in the "white" section of the Orchard Park Projects. Fi- nally my black friends lived on the other side of the Washington Street E1 in the Lenox Projects and the ad- joining neighborhood by Shawmut Avenue. We all seemed to go to St. Rita's Grammar School on Thorndike Street. Catholics outnumbered everyone else. After school, we all headed for the Emmanuel House. We had nuns coming out of our ears back then. During school hours, it was the Sisters of Saint Joseph, After school it was the Gray- moor nuns. Nowadays, many parishes share one priest, but back then St. Philip's Parish was a two church parish. We had the main church, St. Philip's at the corner of Harrison Avenue and East Lenox Street. Then around the corner on Northampton Streets, we had Old St. Pat's, a converted Protestant Church bought out by arriving Irish immi- grants landing here after escaping the Irish Famine. Two places that hired folks for work were the Green Shoe Factory and Boston City Hospital. When it came to food and drink, we had Blanchard's Liquors and Blair's Foodland. The neigh- borhood existed between two train stops Dudley and Northampton Stations. We had the original Harrison Supply Company, we had the Diamond Match Warehouse and we had the Gray Line Bus Company. Then, when we needed milk and bread we had Sam's, Noonan's, Carbone's, Joe's Subs and Haddad's, Oh, I forgot, we also had the Elite Restaurant, Sam's Spa which had the greatest ice cream sodas, and who could forget Johnny Corey's, a very busy water- ing hole, which of course was for men only. No CVS Phar- macies, Rite Aids or Wal- green's, we had Kornfields up across Washington Street and an ex-Italian boxer who took on an Irish fighter name. We had a Knights of Columbus across from Old St. Pat's. It was a great time back then as we all survived together and shared both good and bad days. Now, it is all history and distant mem- ories we still carry around inside us who lived there. It is amazing how much more our neighborhood changed. Lots of fires, St. Philip's Church, Old St. Pat's, the original Harrison Sup- ply, the Diamond Match, they all went up in smoke and years later were joined by the rest of the neighborhood which disappeared into the memories of our mind. I can still drive by and place all the dots together and I fondly remember everything and everyone back in the day. Oh, by the way, the puppy dog my old state rep gave me, my father let me keep it. Representative Charlie lannello by the way told me, it was named Friar. Turns out Friar wasn't really a Friar because she eventually gave birth to nine pups of her own. A'FrENTION MAVERICK SOUARE BUSINESS OWNERS! The Maverick Square MBTA Station will Re-open on August Sa, ?005. We are planning a week-long celebration from Monday, August 10  to Sunday, August 16 th to get the foot traffic back into the Square and into your business.., and we need your help. MEETING: THURSDAY, JULY 30 TH, 2009 10:00 AM AT TACO MEX, 65 MAVERICK SQUARE If you cannot attend this meeting but would like to participate in the celebration, please contact East Boston Chamber of Commerce at 617-569-5000 or East Boston Main Streets at 617-561-1044. We look forward to a great celebration with you!