SWC Game of the Week: TCU @ Texas

Welcome back to SWC Game of the Week. This week’s game features TCU, a team desperate for the bright lights. I think this is the last time they don’t play on Thursday this year. This scribe likes the spunky TCU squad and their coach, Garry Patterson, but has to wonder where the fans are? Come on Fort Worth, stop hating on Dallas (jealous) and start going to see your college football team. Maybe the fans are just confused what conference TCU plays in these days. This week however, they get their shot on the big stage, before lots of folks wearing orange shirts and some cheerleaders with chaps on.

THIS WEEK’S GAME:

This week’s game is TCU at Texas. TCU is chomping at the bit to have a shot at the big school in the state and prove themselves worthy of hangin’ with the big boys of college football. Texas, coming off a somewhat lackluster showing against Arkansas State and better be ready for the Frogs. This is the only planned meeting of the two, so there will be no return trip to Fort Worth, nor a chance for revenge, for either squad. Texas holds an overall 60-20-1 advantage in the series including the first game of the series in 1897, an 18-10 win in Austin. Texas has also won the last 3 games and 26 of the last 27 matchups. This is only the fourth meeting between the two when both teams were ranked with Texas holding a 2-1 advantage in the previous three games. Texas is 36-4 against teams in the state of Texas since Mack Brown took over the coaching duties. They haven’t played Southlake Carroll though, so don’t go calling them State Champs or nothing. TCU however is on a 9 game win streak that has them averaging 34.2 points per game. TCU’s defense is tough, shutting down the Baylor attack in week 1. The defense is lead by defensive end Tommy Blake and linebacker Jason Phillips. Since 2002 TCU is 9-1 vs. teams from the BCS conferences, including a 17-10 win over OU in 2005. Texas is back in the top ten this year, lead by their now sophomore quarterback Colt McCoy. The Longhorn signal caller threw for 29 touchdowns last year, setting the UT single season mark and tying the national freshman mark. McCoy is not the only weapon the ‘Horns have on offense, they also return running back Jamal Charles, and receiver Linus Sweed. The Longhorn defense last year shut down the run (setting a school record for rush yards allowed) but struggled against the pass (allowing a record high in pass yards). The defense did not exactly shut down Arkansas State last week either, with the Indians racking up more yards gained than UT. Perhaps the Frogs will have this UT team a bit more focused. UT better be ready, because the Frogs are for sure.

Significant players out with injury this week are TCU starting tailback Aaron Brown and Texas starting defensive end Brian Orakpo.

COTTON BOWL MEMORIES:

This week’s Cotton Bowl Memory will take us all the way back to the first Cotton Bowl Game, the 1937 matchup between TCU and Marquette. TCU came into the game with Slingin’ Sammy Baugh, an All American who could run, punt and play defense when he wasn’t slingin’ it. The Horned Frogs were 8-2-2 that year and dominated an over matched Marquette squad, winning 16-6. Marquette’s only score came on a punt return. In the second half TCU emptied its bench, playing super subs such as the 1938 Heisman Trophy winner Davey O’Brien. The TCU star that day was L.D. Meyer. “Little Dutch” caught two touchdown passes, kicked a field goal and an extra point, accounting for all of TCU’s scoring. TCU stuffed Marquette QB Ray (Buzz) Buivid, forcing him into 3 interceptions and minus total rushing yards. The TCU coach gave into the crowd late in the game and sent Baugh back into the game, one of the true greats in the SWC.

Side note, “dude, TCU played in a lot of Cotton Bowls early on, look it up.”

OTHER GAMES THIS WEEK:

Rice at Baylor (Someone has to win, right?)

North Texas at SMU (Ponies try to rebound with a team more their speed)

Fresno State at Texas A&M (I didn’t know Fresno was a State, is it near Appalachian?)

UTEP at Texas Tech (Battle of West Texas)

RESULTS FROM LAST WEEK:

SWC Game of the Week, Week 1:

TCU 27 Baylor 0 (TCU holds up its end of the bargin)

Other Games:

Arkansas 46 Troy 26

Oregon 48 Houston 27

Nicholls State 16 Rice 14 (I thought Rice was good now?)

Texas Tech 49 SMU 9

Texas 21 Arkansas State 13

Texas A&M 38 Montana State 7

STANDINGS:

	Conference:		Overall:
	W	L	W	L
Texas Tech	1	0	1	0
TCU	1	0	1	0
Arkansas:	0	0	1	0
Texas	0	0	1	0
Texas A&M	0	0	1	0
Houston	0	0	0	1
Rice	0	0	0	1
Baylor	0	1	0	1
SMU	0	1	0	1

FINAL WORD:

That’s a wrap for this week. Please feel free to forward to your friends, send me emails of those that should be included that aren’t, and submit your additions to the weekly newsletters (favorite SWC memories, player bio’s, funny old SWC stories, mascot hijinks, etc.) If you are receiving this note and you don’t want to, shame on you, but let me know, I’ll take you off the list.

Remember to visit http://www.honortheswc.com/home.asp and help build the SWC Gallery in the Texas Sports Hall of Fame.

SWC Game of the Week: Baylor @ TCU

It’s finally fall, the air is cooler, school has started and it’s time for SWC Game of the Week. This is the second year for the SWC Game of the week. The last SWC football game was played 11 seasons ago, Houston vs. Rice, in 1995. However, the SWC will remain alive through this dedicated newsletter. If you grew up watching the SWC, culminating in the New Year’s Day Cotton Bowl, I hope you enjoy this season, seen from a SWC viewpoint.

THIS WEEK’S GAME:

So, for week one we have Baylor traveling north up I-35 to take on an old foe, TCU, in Fort Worth. The Bears and Horn Frogs will meet for the 105^th time, Baylor’s most played series. The first game was a scoreless tie in 1899. The Bears hold a slim 49-48-7 edge in the series and has won 6 of the last 8 games. TCU won last year 17-7. Baylor head coach Guy Morris is a 1973 graduate of TCU. This game can be seen on CSTV, whatever that is.

The Bears are trying to recover from losing their three time All-American punter, David Sepulveda. When your best player is the punter, you’re probably not that good. The outlook is not great in Waco for this year’s squad as they must replace 7 starters on offense. Michael Machen, a 25 year old senior transfer, will take over the helm at QB and lead the Bears’ passing attack. The defense should be stronger and the Bears will try to redeem themselves after closing last season with 3 straight losses by a combined score of 157-55. Head Coach Guy Morris believes this team can make a run at a bowl, ain’t the preseason grand?

Gary Patterson’s TCU squad is thinking bowl this year as well, a BCS Bowl. TCU will be lead by their defense, a unit that ranked second in the nation last year in run defense and total defense. The defense returns 9 starters including Jason Phillips, all-conference LB and active Frog leader in tackles and Texas Football Magazine’s preseason defensive player of the year, Tommy Blake, DL. Tommy Blake was also named MWC preseason defensive player of the year and Frog running back Aaron Brown was named MWC offensive player of the year. The offense will be lead at the QB position by one of two men, Sophomore Marcus Jackson or Redshirt Freshman Andy Dalton. Even though Dalton has not taken a college snap, he was named the starter for this week. This is the first time TCU has opened the season at home in 3 years.

COTTON BOWL MEMORIES:

This year at SWC Game of the Week, we will feature a Cotton Bowl Memory for one of the teams involved in that week’s game. This week is the Baylor Bears and the 1975 Cotton Bowl (yes they did play in a Cotton Bowl). The Baylor Bears won their first SWC title in 50 yeas in 1974 and played in their first ever Cotton Bowl. The Bears started the season 0-2 (after posting a 2-9 record in 1973) when Grant Teaff’s team picked up the pace and won 8 of their last 9 games. The regular season was highlighted by the “Miracle on the Brazos” comeback win over Texas in Waco. The Bears trailed that game by 17 at the half and had never beaten a Darrell Royal team losing 17 straight. Most fans left at half time. As the Bears mounted their second half comeback, the fans started driving back to the stadium. The Bears won, 34-24 and were launched into the Cotton Bowl. “Last one leaving Waco, turn out the lights,” was a sign posted on the way to Dallas that Jan. 1^st, which explains everything for the Bear fans. Their foe that year, Penn State came into the match 9-2. The Bears led 7-3 at the half on an impressive 85 yard drive finished off by Steve Beaird’s run in from the 3. Baylor hung with the Nittany Lions for 3 quarters before Penn State took over, finishing the game by scooping up an onside kick and running it in for a 50 yard TD run, and posted the W, 41-20. However, the 1974 Baylor SWC Champs remain a “Miracle” team, and one of the highlights of the SWC.

OTHER GAMES THIS WEEK:

Troy at Arkansas (Are we all still mad at the hogs?)

Houston at Oregon (Big road test for the Coogs to start the season)

Nicholls State at Rice (Rice can play teams we haven’t heard of, it’s o.k. for them)

Texas Tech at SMU (Runner up Game SWC Game of the Week)

Arkansas State at Texas (This would be better if we could get rid of the State from Arkansas State)

Montana State at Texas A&M (A&M can’t play teams you’ve never heard of, not o.k.)

That’s a wrap for this week. Please feel free to forward to your friends, send me emails of those that should be included that aren’t, and submit your additions to the weekly newsletters (favorite SWC memories, player bio’s, funny old SWC stories, mascot hijinks, etc.) If you are receiving this note and you don’t want to, shame on you, but let me know, I’ll take you off the list. If you have any media guides sitting around, send to me, it helps with the weekly research.

IT”S FOOTBALL TIME IN TEXAS, let’s start the obsession; we’ve got stereotypes to fulfill!

Lucy in the Sky with Diamonds

Miscellaneous post.

First, our "green" neighbors, the ones that own the lawn mower that you plug in (I guess burning coal is better than burning gasoline) were at the pool yesterday. (At least she was, with the 2 year old.) This isn't news, except she drove to the pool, which is maybe a 1/4 mile walk. I hope she took their Civic hybrid. We just laugh and now don't take anything "green" she says seriously.

Second, Lucy is coming to Houston. Lucy is the really old hominid fossil, think ape-man, err woman. She has never left Ethiopia. There seems to be a bit of a controversy, read about it here at NPR's website. It seems some researchers, scientist, hominid's think she is too fragile to travel and this 10 city tour (Houston is the only confirmed stop) will eventually destroy the fossil. Seems to me they just want to keep her locked up for themselves. Free Lucy!

Third, another hedge fund article from my hero, Ben Stein, in the NY Times. I don't think anyone reads these, but they should. And comment on it.

Fourth, the new Oilers beat the Cowboys on Saturday.

Fifth, the Astros retired Jeff Bagwell's jersey number, #5, today. We got to go on Friday night on friends company tickets. Club level, it was nice. Beer tip at Minute Maid, if you can, get the 24 oz (Shiner, Corona) for $9 and split with your life partner. Best bet.

Finally, college football is starting again, so look for SWC Game of the Week!

Student Loans

Here is a good article on student loans in the New Yorker.

Basically how it works is the idea is to make college affordable by offering low interest loans to students. But loan companies don't want to offer low interest loans to people with no collateral and uncertain future wealth. So the government offers incentives to the loan companies by doing two things; guaranteeing the loans and providing subsidies to the loan companies.

Now the loan companies are getting rich. Sallie Mae made $1.3 billion last year. The government can actually issue the loans themselves for cheaper than the current program. But, government control of programs is bad, right? What this article points out is the government is already controlling this program, but through the involvement of private companies it is not economical.

BTW, we paid off my student loan this year! One down, one to go!

HOV

On my way home today on the North Freeway (I-45) from the Beltway to Main St exit I saw 11 motorcycles in the HOV lane. HOV stands for High Occupancy Vehicle. One was a police officer, one was right behind a police officer.

Taxing...

If you've been reading the articles I've posted recently you've followed the basic premise that hedge funds and private equity funds pay 15% tax on their earnings as capital gains instead of 30-35% corporate tax rate everyone else pays. Ben Stein's article in NY Times last week talks about this. Remember, Ben Stein worked for Nixon, he's a conservative, for the most part. Now, my former senator Chuck Shumer from New York thinks this is o.k. This is the same man who goes after the Bush Administration for cutting taxes for the rich. Read this article in the NY Times, In Opposing Tax Plan, Schumer Breaks with Party.

But in the case of the tax proposals, the strategy behind Mr. Schumer’s efforts is putting to the test another set of principles he is known for. He has regularly portrayed himself as a progressive politician who identifies with the struggles of the middle class and is sharply critical of the selfish “plutocrats” who he says control the Republican Party.

And he has written a book on the subject, advising policy makers to follow his strategy of deciding positions by identifying with the concerns of people like the Baileys, a fictional middle-class family from Long Island that he uses as a guide.

Now, leaders in his party are using similar language to justify their efforts to raise taxes on hedge funds and private equity firms, saying the new revenues will help pay for health and education programs and begin to reduce the impact of the alternative minimum tax on the middle class. The proposals have gained momentum in recent weeks but face formidable political obstacles, primarily in the Senate.

...

In June, senior House Democrats separately proposed raising the tax rate on the investment gains of fund managers — known as “carried interest” — to the ordinary income tax rate of as much as 35 percent, from the capital gains rate of 15 percent.

Win Ben Stein's Money

Good article in today's New York Times.

LET’S start with the obvious. Hedge funds have created a terribly wealthy new class. Although the data is overwhelming that the mass of hedge funds have not been outperforming the market after fees, money still pours into them. This has often made their proprietors terribly rich.

Somehow, by some alchemy of brilliant tax lawyers, these people are paying long-term capital gains rates of 15 percent on their compensation (even though much of their pay is tied to trades with holding periods that last seconds). Doctors and lawyers and writers and actors pay about two times that amount.

And you thought big oil was evil...

... try looking into hedge funds, private equity.

So, I work for big oil and was feeling guilty about it as I drove to work listening to my "liberal hippy" station that plays good music but today was playing an oil war song and a "puff there goes the ozone layer" song. Then I arrived at work and read this in the NY Times: Tax Loopholes Sweeten a Deal for Blackstone. Basically, they get to pay 15% taxes on 3.7 billion raised through selling stock when they went public and then turn around and take a 30% deduction on that same money. Read the article, slowly, it's confusing. See some quotes below.

Blackstone’s tax maneuver hinges on its use of good will, an accounting term for the value of the intangible assets, like a well-known brand name, that are built up by a company over time. That value is part of the reason a company is worth more than the sum of its physical parts, like buildings and equipment.

Individuals who create good will cannot deduct it. But when good will is sold the new owners can because its value is assumed to erode. The Blackstone partners sold the good will from their left pocket to their right.

In simplest terms, the Blackstone partners paid a 15 percent capital gains rate on the shares they sold last month in the initial stock offering to outside investors (those shares represented a stake in the Blackstone management company, not its funds).

Blackstone then arranged to get deductions for itself for the $3.7 billion worth of good will at a 35 percent rate. This is a twist on the “buy low, sell high” stock market adage; in this case it would be “tax low, deduct high.”

More...

The tax maneuver starts with Blackstone partners selling to a newly created subsidiary corporation $3.7 billion worth of good will. Such entities are known within the tax trade as blocker corporations, because they help block taxes from reaching the Treasury.

Here is how the structure works: Blackstone can deduct 35 percent, based on the corporate tax rate for depreciation, of the value of $3.7 billion in good will, or $1.3 billion. Because the partners told investors they have the right to 85 percent of that amount, that means they have $1.1 billion worth of deductions.

That amount would be saved over 15 years. But for an apples-to-apples comparison with the taxes it pays on the proceeds this year, the value of $1.1 billion in today’s dollars is $751 million.

How is this legal?

Baseball Half Way Point

Now that we have reached the All-Star Game, let's look at the moves the Astros did and didn't make.

First, the big trade. The Astros sent Willie Taveras, Taylor Buckholtz, and Jason Hirsh to the Rockies for Jason Jennings. Hirsh at the time was the Astros #1 pitching prospect. Jennings in 10 starts is 1-4 with a 4.07 ERA. Hirsh in 17 starts is 4-7 with a 4.90 ERA. Buckholtz in 7 starts is 3-4 with a 4.65 ERA and has pitched out of the bullpen. Willie T is hitting .325 with 20 steals. The rap on him was lack of power and he doesn't walk. He has 16 walks for the year for a OBP of .371 and he is slugging .391 with 13 extra base hits. The guy the Astros replaced Willie T with in centerfield, Hunter Pence is currently leading the NL in batting, hitting .342 with 11 homeruns and 42 RBI's. He is slugging .589 and has 10 walks.

Now the moves the Astros didn't make, the two guys pitching for the NY Yankees. Andy Pettitte in 18 starts is 4-6 with a 4.25 ERA. He has pitched 112 innings and pitched good early, but seems to be in a bit of a slump. Roger Clemens in 6 starts is 2-3 with a 3.63 ERA and has only given up 2 runs in his last two starts.

UPDATE: Carlos Beltran, all-star, is hitting .265 with 16 HR and 55 RBI's. He is really struggling now though. That is the non-deal from 3 years ago.

My opinion? I think the Rockie trade was bad, as Jennings is a free agent at the end of the season, and while Hunter is great, both Hunter and Pence would be better. Pettitte is getting old, and I don't think his second half will be much better. Clemens seems to have hit his stride, but we'll see how he holds up. Those two I don't miss.

Now, the Astros need to start trading guys to restock, and make a run in a few years again. Rebuilding time, Astros.

Bubba Spa

Bubba Junior benefits nightly from the Bubba Spa. See description below.

Ahh, the Bubba Spa, where we treat you like a king. First you will get a nice hot bath, soaped up and all the days worries scrubbed away. For your enjoyment a rubber duck and airplane that squirts water. You will be allowed to linger in your bath as long as your heart desires. Next, you will be dried off with a nice dry soft towel. The highlight of our spa treatment is the full body massage with baby lotion. Release the tensions from your body and also come away smelling fresh as well as having healthy soft skin. You will then be put into a soft body suit for the evening. In order to avoid those pesky midnight bathroom trips, a diaper will be provided. Now you can sleep all the night without the bathroom worries. The treatment is topped off with some warm milk straight from the source! This should have you at the edge of a long night's sleep, which will be provided for you in a nice big bed full of your favorite things.

3000

Biggio just singled for his 3000 career hit. I have tickets tomorrow night. He was suppose to only get 2 hits tonight, not 3. Oh well. Biggio came up in 1988 and I've watched his whole career for the Astros.

Soccer

I have to admit that Mrs. Bubba and I watched the US vs Mexico America's Cup Final on Sunday from Chicago and it was great! We cheered for the US, scared Bubba Junior twice and was really excited on the two US goals that erased a 1-0 halftime deficit to win 2-1. It was one of the more exciting sporting events I've watched in a while. Don't worry, I'm still the baseball guy.

More Neighborhoods ... Houston Heights...

So this article was in the Houston Chronicle Blog about the Houston Heights. The Houston Heights was incorporated in 1891 as Houston's first suburb. Houston would later annex the Heights. Read here for more information about the history of the Heights.

The Heights is experiencing a come back of sorts and is now the home of the Bubba's. We live in a house built in 1925 and have a full lot. There are quite a bit of new homes in the Heights, but most are built in the Victorian style, preserving the distinct architecture of the Heights. I would argue they are too big and too close together, but at least they look nice.

Now on the blog post. The Heights is mostly residential houses, some apartments. Not much night life as the boundaries of the Historical District is dry. We like it here, as it seems like a neighborhood, people get out and walk and ride their bikes, and most have decided to forgo the big suburb McMansion and want to live in an older home with character in town. I like this quote and I think it goes well with my previous post about New York. Now more than ever, as a home owner I have a vested interest in what goes on in the Heights and thank that the community should have a say in future development. How can you be against having a say in what happens to your neighborhood?

No, this task belongs to us. Magnolia Lofts or no, change is coming to this neighborhood, as it does to all neighborhoods at all times. And an active, organized voice is the only thing that will allow Heights residents to have a say in that change.

Is what's happened to Freedmen's Town the Heights' fate? Is this is a good thing? There are many issues involved here. What do you think?

Neighborhoods

Here is an article from the NY Times about our old neighborhood in NY. We did not like these buildings. They were out of scale for the neighborhood, and frankly, if you plunk them down anywhere in the world, they'd be ugly buildings.

A couple of points I disagree with in the article. First, change is not bad, and NY is certainly a place where change happens. But, if the neighborhood is against building apartment towers twice the height of all the buildings around them, should that change be forced on them? Should outsiders have the power to come into a neighborhood and change it, despite the residents objections?

Second, while the principle of more apartments on the market will decrease the prices is nice to think about, it just doesn't work in Manhattan. You'd have to building quite a number of apartment units to decrease demand enough to effect rent. As long as Wall Street is booming, rents will be sky high. Also, these aren't rental units, and they aren't cheap, or even close to cheap. Their advertisements in the NY Times aim at an obnoxiously rich sect.

Finally, it is sad to see Manhattan change into a enclave for the rich with only chain retail "mall" stores and banks. If you remember our mourning of our local bookstore closing. We felt that our old neighborhood was like a small town inside the city. Most folks were pleasant, most were families, and most patronized the local shops. Enter the I-Bankers... When two professionals (professional, successful engineers) can't make it in Manhattan with a baby, then something is wrong.

I think we've found what we had in Manhattan here in the Houston Heights. It does seem like a small town inside the big city of Houston. Yes, I miss Manhattan (who wouldn't) but what is Manhattan going to be in 5-10 years?

DiMaggio

The greatest line every written in literature contains a reference to Joe DiMaggio:

"'I would like to take the great DiMaggio fishing,' the old man said. 'They say his father was a fisherman. Maybe he was as poor as we are and would understand.'" - Ernest Hemingway in The Old Man and the Sea

The greatest line every written in music contains a reference to Joe DiMaggio:

"Where have you gone Joe DiMaggio, our nation turns its lonely eyes to you. What's that you say, Mrs. Robinson? Joltin' Joe has left and gone away." - Paul Simon in Mrs. Robinson

Community...

Now that I'm back home in Houston, we're looking to make some friends and become part of the community. So far we've found this...

Softball

So, with the new big oil job I got to play in a United Way softball tournament all day on Thursday instead of working. We played 4 games. Two things I learned. I forgot how the heat can take your energy away. I did fine, but was tired. Second, even at 30, I can't quite play 4 games of softball and not feel the effects. Getting in and out of bed has become a bit difficult. I'm toughing it out though. I'm hoping yard work helps me work out all the soreness.

10 Years

What was I doing 20 Years ago?

It was June 1987. My sister had just graduated high school and I just finished the 4th grade. This was my biggest baseball card year. This summer we went swimming alot and played alot of stick ball, the best games in the evenings. I rode my bike all over the neighborhood. I was on the little league all stars, so we played organized baseball all year.

What was I doing 10 Years ago?

It was June 1997 and I was working a summer internship with Lockheed Martin in Clear Lake. They gave me nothing to do. It was boring. It was the summer the Astros won the NL Central title, so that was good. I had romantic interest, but it appears that 10 years later it might have been one sided. It was a pretty boring summer, nothing exciting. I played softball at NASA and hit a couple over the fence, that was fun.

What was I doing 5 Years ago?

It was June 2002 and we were not quite married 1 year and we were planning our trip to New York City, my first time to NY. We were living in Dallas and getting settled into our new jobs / apartment. We went to the pool alot. Nothing else big.

What was I doing 1 Year ago?

It was June 2006 and we found out that we were having a baby! (New romantic interest.) I got a bad review at work and decided I need to change jobs. We were getting ready for our summer trip to Maine. We were living in New York City, but our days there were beginning to be numbered as I polished up the ole resume.

Tap Water

So, Mrs Bubba and I have always drank tap water. It's fine water, and when we lived in NYC, the NYC water is some of the best tap water. I used to say, "We're civil engineers, our job is to provide clean safe water, of course we are going to drink the tap water.

Now according to this article in the NY Times, we are part of the cognoscenti. Some interesting tidbits from the article that we have sometimes touted to our friends who mocked us.

The public water supply is much more stringently regulated by the Environmental Protection Agency than bottled water is by the Food and Drug Administration. The E.P.A. requires multiple daily tests for bacteria, for example, with the results available to the public; the F.D.A. requires weekly testing, which does not have to be reported to the agency, to the states or to the public.

But I think they do it for other reasons than we did.

“Serving our local water in reusable carafes makes more sense for the environment than manufacturing thousands of single-use glass bottles for someone to use once and throw away,” Incanto explains at its Web site.

But it is always about the bottom line, right?

For almost everyone else the idea is still in the talking stage, in part because there’s a big profit in bottled water, even though some of it comes out of a tap before it goes into the bottle. Restaurants buy it for $1 or $2 and sell it for as much as $8, or even more, giving it the highest markup of any item on the menu. Most restaurants making their own sparkling water are not charging for it.

Geoffrey Zakarian, the chef and an owner of Country in Manhattan, described the ban as “a worthy thing to do.” But he added, “You have to make a profit.”

What I think is funny is how so many people have been "conditioned" to think that tap water is not save to drink. When Mrs. Bubba and I were in Rome they have water fountains all over the city that just spout water. (This is true all over Italy, at least where we went.) Well, we would fill up our water bottles and drink at these water fountains. When we were at the Forum another American came up to us and said, "Is that water safe to drink?" We just said yes and drank it in front of her. I mean, these people invented piped in water. The US is not a 3rd world country, the water is safe.

For my Hedge Fund Friends...

From the NY Times...

Last year, the Standard & Poor’s 500-stock index jumped 14 percent, while the average hedge fund returned less than 13 percent, after investment fees, according to Hedge Fund Research in Chicago.

A little education on hedge funds for those not in the know, correct me if I'm wrong. They are different than mutal funds in that they can borrow capital to invest and are not as regulated as mutal funds. They also charge very large fees, typically 2% of what you invest plus 20% of your profit. Also, it takes alot of capital to buy into a hedge fund, these are for rich people. They can charge high fees because they can deliver high returns. Read the article and see how much some of the managers make, enough to run the National Park system. The rich get richer. Even better when you think about the US cutting capital gain taxes, so you can make this money tax free, and the option is not open to most of us.