Friday

Another Friday in August.  I think that August Friday's are some of the best days of the year (as long as the temps are manageable).

My great plan to slip away from work a little early yesterday and get a round of golf in at Geneva was all good except for the fact that there was a corporate outing in full swing on the course. #planningfailure.  But my pal Roy and I played a pieced-together 9 holes and then hung out in the bar with a variety of folks while we did hors d'ouevres and dinner.  Not the original plan, but a fine result anyway.

The markets have been grinding upwards over the last month.  I really have no explanation for that result since the geo-political news has been mixed at best.  European troubles may be in a lull since they're all on "Holiday" in August.  US large caps have a lot of cash.

Then there's Facebook.  Since the firm went public a few months back at $38 per share, the price has fallen to now below $20.  And there will continue to be selling pressure as more shares become tradeable in the months ahead.  (Insiders are restricted from selling all of their shares out-of-the-chute to try to manage an orderly assimilation of the IPO into the markets.)

The business model of these social-networking sites is very much subject to debate.  How reliable is the income stream?  What new technology will challenge the concept?  Security issues for user data.  The fickle-ness of the user-group?  I think that all of these uncertainties come into play.  And when you mix in a number of operational issues that surrounded the IPO, this stock is destined to find a further low.

Margret is on the loose today.

A local team of predominantly high school juniors and seniors from Moline is opening play today in the American Legion baseball World Series in North Carolina.  This team won their regional in Michigan last week from the losers bracket after losing their opening game in the double-elimination tournament.  That meant that they had to win 5 straight games in a three day period.  Props to them for doing so. 

I played American Legion ball in Ottumwa.  That was the only organized Summer baseball for post-15 year old's at that time as high school baseball in Iowa was a Spring and Fall sport back then.  (The Fall season was only there so that schools like Walsh that didn't play football would have an athletic activity for September and October.)  The Ottumwa team would play teams from Cedar Rapids, Moline, Galesburg and a few other bigger towns in the region.  We did a week-long trip a couple of Summer's over through Nebraska as well.

Like this Moline team, the players on the Ottumwa team came from both local high schools.  Come the Winter, during basketball season, you would then be playing against your baseball teammates.  Kinda like the Olympic basketball teams.  Emphasis on kinda.  There was always a lot of chat going on during those games.

Hope the Peanut Gallery has a good Friday.  Thanks for reading.

BCOT