My Photo

Brown House New Year's Party (December, 2005)

  • Marisa...
    A few pictures from a party on New Year's Eve.

Frank the Tank

  • An picture history of the world's best nephew.

American Revolution Travel Class (January, 2004)

  • Quieting the troops...
    These photos were taken in January of 2004 during Dr. Twining's America: Age of Revoultion travel class. Sites visited included Charlottesville, VA; Williamsburg, VA; Charleston, SC; Hilton Head, SC; Savannah, GA; and Asheville, NC.

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January 30, 2007

Wisdom of the Day

I read this today in a story about US Airways' bid to acquire Delta...

Having had an unhappy experience as an airline investor (with US Airways, which has been in bankruptcy twice), Warren Buffett says: "I have an 800-number now that I call if I get the urge to buy an airline stock. I call at 2 in the morning and I say: 'My name is Warren, and I'm an aeroholic.' And then they talk me down."

Expense Report

Day 149, $0

Day 150:

  • Pretzel from a street vendor, $1.25

Day 151:

  • Soup from the Cafeteria, $1.75

January 27, 2007

Week in Review

This week was very productive; I finished lots of projects at work, read two books and published a op-ed in the Westminster College Holcad.  This morning marked my first attempt at jogging in about a week.  I returned to the apartment about twenty minutes after embarking on the run; I really need to get some cold weather gear!

My Holcad op-ed focused on the impact of ethanol on agricultural commodities, consumer products and the political stability of grain-importing (and often oil-exporting) third-world nations.  The letter was prompted by speculation over the renewable fuel contents of the State of the Union Address.  Upon the announcement of George w. Bush's 35 billion gallon annual target for biofuels, I was forced to amend the letter.  I never imagined the bar would be set so high!  Producing that amount of renewable fuel would require the conversion of the entire corn and soybean harvest into fuel--unless, of course, new technologies make cellulosic ethanol ecnomically feasible or the nation became more keen on coal-based fuel.  There certainly is a valid reason why every President since Richard Nixon has professed the need for "energy independence".  There is also a valid reason why none of these leaders have made reasonable progress towards that goal...

Cities, by John Reader, takes a look at the development of urban areas--defined very loosely and partially.  The book starts a little slow, but picks up speed as the author gets into European cities. He seemed more comfortable and much more able to provide insights about 19th century London than the development of cities in Sumer.  Reader spends a lot of time developing the concept of a city's "footprint"--i.e. the amount of land area required to "support" the urban area.  Many cities have developed urban agriculture in response to a stimulus--Havana, for example, in response to the end of Soviet subsidies--and have successfully and economically reduced the urban footprint on the surrounding area.  The theory may be an old one, but this is my first experience with it.  The idea of an urban footprint, though not the primary focus of the book, is my key takeaway.  Rating: B

The Wal-Mart Effect, by Charles Fishman, examines the effect of Wal-Mart on local communities, regions and nations. Fishman writes eloquently about the rise the world's largest company during an age of rapid globalization and increasingly influential megacorporations. The most interesting part of his analysis is certainly the development of the Wal-Mart culture.  His analysis breaks down as his argument develops later in the book.  For example, the artful author often ignores macroeconomic trends--like the increasingly unprofitable domestic textile industry and the rise of automation in manufacturing--when painting his Mona Lisa. It is without doubt that Wal-Mart has pushed ethical limits when dealing with suppliers and certainly could do more on many fronts, but the boys in Bentonville are not responsible for the effects of capital mobility on domestic industries.  The book quickly becomes repetitive; it probably could have done without 60% its length and still managed to get across its intended message.  Fishman, to my surprise, steered clear of the typical Wal-Mart bashing that I've come to expect over the past few years. Unfortunately, his work could easily be misappropriated by those who wish to dismantle the company that Sam built.  Rating: B+ 

Christie and I made our first visit to Little Korea last night.  We went to a restaurant called Shilla to celebrate one of her friends' birthday. The decor was visually appealing; the food, on the other hand, was not appealing at all.  Next time I choose Korean, I think I'll do a little research first.

Expense Report

Day 145:

  • Lunch from Sunny's Deli, $6
  • Tom's Pizza, $2.25
  • Deli, $2.25
  • USA Deli, $5.75
  • Morton Williams Supermarket, $5.84

Day 146:

  • Lunch at Cafeteria, $1.75

Day 147:

  • Breakfast at Cafeteria, $2.75
  • M&Ms and Skittles at Duane Reade, $10.?
  • Shilla, $70

Day 148:

  • Fairway Market, $57.30

January 23, 2007

Monday and Tuesday were longer days than usual.  Most of my waking hours were spent working or commuting, but things should slow down for a while now.  I did manage to get an op-ed piece about ethanol done for this week's edition of the Holcad.  And I did manage to watch the State of the Union Address. 

Expense Report

Day 143:

  • Breakfast at Cafeteria, $3.49

Day 144:

  • Lunch from a street vendor, $4.75
  • PATH, $3

January 21, 2007

Housekeeping Day

I spent the day tying up loose ends--lots of laundry, some reading and a little cooking. I spent time browsing through the Kiva listings and discovered Rosanna Amalia Chi Chi.  Her story was intriguing, so I partially funded the $275 requested for her food cart.  Because I frequent them from time to tim outside of Moody's. these carts have a special place in my heart!

This news story is worth reading.  Apparently, a small group held a ceremony for Zeus near a temple in central Athens---the first in 1,800 years!

Expense Report

Day 142:

  • Washing Machine, $3.75
  • Dryer, $1.50

Loan Candidate #3

I committed to the following loan candidate, pending review by the microfinance partner:
Rosana Amalia Chí Chí
Food Production and Sales

Location: Mérida, Yucatán, Mexico
Activity: Food Production and Sales
Loan Amount: $275.00
Loan Use: purchase merchandise
Loan Repayment Term Range: 5-10 months
Start Date: Not yet started
Status: loan has been raised
Partner Rep: Ileana Rodriguez
Partner: Admic Nacional

Rossana and her family, husband and four under aged children, live in the city of Merida, Yucatan. She and her family went through some difficult times five years ago after her husband was left unemployed. This situation made Rossana think of a solution, as she needed to provide her children with the necessities, such as an education. This is how she started selling corn on the cob from her home. Soon thereafter with the help of some loans she was able to purchase a tricyle to be able to go out and sell her products, which also increased in variety. The want to provide her children with a better quality of life motivated Rossana to work very hard every day, and she has managed to reach her goal through effort and dedication.Rosana

Today she requires a loan in the amount of $275, that she plans to repay in a term of 5 to 10 months. She will use this amount to purchase ingredients and materials necessary for her products, and upkeep of her tricycle. With your generosity you can help Rossana and her family. Don't wait any longer. They sincerely thank you.

January 20, 2007

Saturday Night Special

Christie and I spent the night cruising around the area between Rockefeller Center and Central Park. We stopped at Tiffany's, Morrell and Company and a slew of clothes stores before dinner at the "famous" Brooklyn Diner.

Expense Report

Day 141:

  • Brooklyn Diner, $37.43

Can Microfinance Replace Traditional Aid?

Microfinance is an interesting phenomenon with enormous potential for positive and life-changing results.  Many have suggested that a sustainable model for economic growth, like microfinance, represents the future of foreign aid. Because funds are lent, collected and relent, Microfinance, so to speak, is the gift that keeps on giving indefinitely.  Some proponents infer that direct aid without the expectation of repayment is becoming obsolete.  I disagree with this notion.

At Moody's we determine the ability of a borrower to repay various forms of debt (bonds, bank loans, etc).  Some borrowers are awarded high ratings, indicating a strong ability to meet debt obligations going forward. Others are given low ratings, indicating a weaker ability to meet these obligations.  Furthermore, many potential borrowers do not make it to Moody's; they are screened out by lenders and, thus, never apply for ratings.  Others never even consider seeking debt in the first place.

It would follow that the same holds true for microcredit applicants.  Since there are so many potential borrowers on Kiva and my funds are limited, my decision is based on a developing set of selection criteria.  Kiva doesn't rate applicants and lenders do not receive interest, so credit ratings would be of limited use. Borrowers are thus screened by the Spirit of Christmas Fund much in the same way an investment bank screens companies seeking funds. This means that those applicants who would not apply to Kiva even if an affiliated microfinance institution was in their neighborhood (i.e. the extreme poor) are summarily excluded from receiving microcredit "aid."  Notwithstanding those who do not apply, there exist others would make poor candidates for loans (perhaps this would be a good topic for a future post).

Microcredit appears to be appopriate for a select group (which I intend to clarify in the future) and should not be considered a cure-all and end-all for foreign aid.  However, it is a very good and very useful complement to traditional aid methods and, hopefully, will continue to expand rapidly across the world.

Strange Observation

New York has such a wonderful assortment of restaurants and yet for the past couple of weeks I continue to return to the same places over and over and over.  Perhaps it is a cyclical pattern of an exploration period followed by a short comfort period of returning to known places; I am not really sure.

Expense Report

Day 139:

  • Breakfast at Cafeteria, $3.49

Day 140:

  • Lunch at Cafeteria, $1.75
  • Dinner at Main Street Cafe, $32.90
  • Morton Williams Supermarket, $13.
  • Dry Cleaners, $21.50

January 18, 2007

First Funds Dispersed!

I received the following e-mail this evening from Kiva:

Dear Spirit of Christmas Fund,

This is an update on Grocery Store written by Alejandro Martinez:

Thank you for your loan.  It has been disbursed to FRANSISCA ORTEGA MALDONADO by Admic Nacional in Mexico.  We are excited to watch this business grow.  Over the next 5 - 10 months, Admic Nacional will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Kiva very much appreciates your responses online.  You can read and respond to this journal online at:
http://www.kiva.org/app.php?page=businesses&action=comment&id=3734&ent=4517

Some of our partners choose to write their journal entries in the local language in order to keep their overhead low.  If this journal entry is in a foreign language, please feel free to use an online translator such as Altavista's Babelfish (http://babelfish.altavista.com).


Thanks!

January 17, 2007

Get Well Soon Aunt Claudia! :)

Aunt Claudia fell on the ice and broke her kneecap today. Fortunately, a surgeon was able to put her back together again.  Get well soon Aunt Claudia! :)

I went out for lunch today at a French restaurant.  On my plate was a nice steak, the first French steak that I have ordered since a trip to Biarritz a few years ago.  It was delicious and I would recommend the restaurant to everyone... if I could only remember the name.

Expense Report

Day 139:

  • Breakfast at Cafeteria, $2.74

Day 140:

  • Breakfast at Cafeteria, $2.74