Thursday, May 29, 2014

Pictures from 2014 Memorial Day Parade of Briarcliff Manor

Some pictures (from Chester Mah and Tony Costa) of Rotarians at the Memorial Day Parade - 5/26/2014

Please click HERE for more pictures and a journal of the Briarcliff Manor Memorial Day Parade of 5/26/2014.

Wednesday, May 28, 2014

May 23, 2014 Briar Crier


May 23, 2014 at The Briar's Restaurant, 512 N. State Rd. of Briarcliff Manor Rotary Club Meeting.

1430:  Joan of Arc was captured by the Burgundians, who sold her to the English.

MEETING LEADER: President Anne Cargill

PLEDGE: Anne      SONG: Sy        PRAYER:  Bishop Herzog

ROTARIANS PRESENT AND HAPPY THOUGHTS: 17 Rotarians present. Anne invited to Atria for lunch Memorial Day and to play piano; Eric's daughter will play instrument so he will not be in parade; Dr. Bob Maher, his son will soon marry; Bishop John had chance to meet Senator Schumer.
ANNOUNCEMENTS:  Elinor and Sy will be at Cornell in Ithaca for her 60th reunion instead of June 6 Rotary meeting; At May 30 Memorial Day Parade, Mark Seiden's daughter Rachel and friend carried the Rotary banner in the Memorial Day parade with Sy, Richard Zuckerman, Mark Johnson and Mark Seiden marching behind. Sy presented the Rotary wreath at the Briarcliff dead memorial plaque at Law Park, with the ceremonies led by the American Legion and a marine general giving the Memorial Day talk.


SPEAKER AND SUBJECT: Sy Yuter on proposed free trade area in Gaza.

                                                        SUMMARY OF TALK
Proposed free trade area along Gaza coast in Gaza needs Hamas' consent. Hamas, as a listed terrorist organization, not talked to by U.S. or Israel,  so proposal not presently implementable. But purpose is to put Palestinians to work at the free sea port and desalination plant, meaning the end of the blockade by Israel and mostly Egypt. Basic treaty would be signed by the Multinational Force and Observers (which overseas Israel-Egypt peace in the Sinai and is led by the U.S.), Israel, the Palestine Liberation Organization and the Palestinian Authority representing the West Bank Palestinians. A below-ground road connects the MFO-led international free port with the West Bank, which road can be extended to Jordan to give it access to the Mediterranean.  

This Friday at The Briar's:  Kristin Linder on the History of Art.

Elinor Yuter, Reporter
Rachel Leihbacher, Expediter

Sunday, May 18, 2014

May 16, 2014 Briar Crier

May 16, 2014    Briar Crier

Our guest speaker was Rebecca Sommer from Briarcliff, her presentation was about The Cookstove Project

Rebecca is the co-founder of that organization and serves as its International Program Manger. The Cookstove Project helps families in rural areas of Uganda and Nepal build affordable and efficient cookstoves. Rebecca explained that nearly half the world still cooks over an open fire inside their homes. The smoke and toxic fumes from cooking this way causes approximately 4.4 million deaths per year globally. It is also one of the leading causes of death for children under 5 in these developing countries. The cost to build one of the stoves is between $10 and $12. So far over 600 stove have been installed in Uganda and 350 in Nepal. Anyone wanting to contribute to this can make a tax-deductible donation payable to the Global Peace Foundation. If anyone needs more information they can contact Mark Johnson, a Briarcliff Rotary member and who is currently a board member of The Cookstove Project.

By Mark Johnson
Expedited by Rachel Leihbacher

President Anne circulated a nice Thank You note from one of the ladies at the Mother's Day Luncheon describing this one was one of the best in recent years.

2014 Mother's Day Luncheon Celebration for Seniors - Slide Show with Music

Just anxious to share with you some pictures of all those happy faces. One mother said: "This was the first time I attended the Rotary Club Mother's Day luncheon. Everything was so good and I had so much fun. I would like to come again next time." 120 edited pictures were selected from 183 candid snapshots into the making of this version of YouTube video.

This video is intended for attendees of the event. It will bring back fond memories to those who attended the luncheon - guests and Rotarians. It can also serve as a reminder to areas for us to make improvements such as snapshot taking.

Please click on the white triangle in the middle of following screen to see the slide show from the YouTube video. Runtime: 12 minutes 40 seconds. For a shorter version, please click HERE.

Please click HERE for more pictures and writeup of the Mother's Day event.

Monday, May 12, 2014

May 9, 2014 Briar Crier Mother's Day Luncheon

May 9, 2014 at The Briar's Restaurant, 512 N. State Rd. of Briarcliff Manor Rotary Club Meeting

1914: President Woodrow Wilson designated the second Sunday in May as Mothers' Day.

MEETING LEADER: Secretary Scott Lanoff for Mothers' Day Program.

PLEDGE: Scott     SONG: Sy       

ROTARIANS PRESENT AND HAPPY THOUGHTS: 12 Rotarians present. There were no Happy Thoughts.

ANNOUNCEMENTS: Elinor and Sy will be in California to attend their oldest grandson's graduation from Occidental college.

GUESTS: Future Rotarians Mark Johnson and Mary Vincent.

SPEAKER AND SUBJECT: This was our Mothers' Day Program 


Rotarian piano player John Gallegher led a sing along. Also, the plants were raffeled off.

This Friday at The Briar's: Cookstove project by Rebecca Sommer with Mark Johnson introducing her.

Elinor Yuter, Reporter
Rachel Leihbacher, Expediter

Friday, May 9, 2014

May 2, 2014 Briar Crier


May 2, 2014 at The Briar's Restaurant, 512 N. State Rd. of Briarcliff Manor Rotary Club Meeting
                                                                    TODAY IN HISTORY 
1913: Swedish engineer from Hoboken, NJ, received patent for a "separable fasterner" known as the zipper.

MEETING LEADER: President Anne Cargill

PLEDGE: Anne      SONG: Sy        PRAYER:  Paul Rosen

ROTARIANS PRESENT AND HAPPY THOUGHTS: 23 Rotarians present. Anne will not be at the Mothers' day program but will be in Maine with daughter; Bob Maher, our treasury in good shape; Beth her three-year-old celebrated a birthday.  
ANNOUNCEMENTS: Eric re scholarships for Briarcliff sophomores, needs additional members for committee. Elinor and Sy will be in California next Friday. Sy giving talk to Redondo Beach Rotary Club. Elinor and Sy's grandson Jason will be graduting from Occidental College in California. 

GUESTS: Future Rotarians Mark and Mary Vincent plus John Gallagher. 

SPEAKER AND SUBJECT: Sup't James Kaishan on Briarcliff Schools.

                                                        SUMMARY OF TALK
School system has adopted common core program and race to the top. Briarcliff is number one in college readiness. Has improved athletic program and athletic fields so now have night games. Has improved math teaching.  

This Friday at The Briar's: Mothers' Day program. Rotarians needed to greet Mothers at 11:15. All attending Rotarians should be at The Briar's by 11:30.

Elinor Yuter, Reporter
Rachel Leihbacher, Expediter

Thursday, May 1, 2014

April 25, 2014 Briar Crier


April 25, 2014 at The Briar's Restaurant, 512 N. State Rd.
of Briarcliff Manor Rotary Club Meeting

1507: A world map produced by a German cartographer contained the first recorded use of the term "America" in honor of the Italian navigator Amerigo Vespucci.

MEETING LEADER: President Anne Cargill

PLEDGE: Anne      SONG: Sy        PRAYER:  Bishop John

ROTARIANS PRESENT AND HAPPY THOUGHTS: 23 Rotarians present. Many re condolences for the passing of Rachel's dad; Beth, re her son's 3rd birthday; Ken, has new grandson with his name.
ANNOUNCEMENTS: Positive vote for Eric's slate of the 2014-2015 Board

GUESTS: Future Rotarians Mark Johnson and Jim Lupfer; Also Stephanie Rossi and John Gallagher. 

SPEAKER AND SUBJECT: Scott Lanoff on Mortgage Update.

History of the Mortgage:              Mort-gage = Death Pledge
Knight Errant, came home from the crusades
It’s a Wonderful Life (George Bailey and Building & Loan & Mr. Potter)
In America, prior to the 2nd World War purchasing of homes/ the buying real estate was pleasantly characterized in the wonderful Jimmy Stewart movie, It’s a Wonderful Life
George Bailey’s family owned Building & Loan Society and Mr. Potter’s Grey – heartless Bank were both lending their communities their own savings back out to them – in order for families to buy their piece of the American Dream – the family home.  This is the way it was always done.
With today’s perspective it’s easy to see on the one hand how things could get jammed up and limit growth if there was not enough local money to lend out.  On the other hand the banker’s knew their borrowers and new the collateral.
They were dealing with a very limited pool of funds to lend – NO LIQUIDITY
The Secondary Mortgage Market
-          Fanny Mae  in 1938 out of FDR’s New Deal
o   Bought loans for cash from community based banks all over the country – went public
§  Established uniform underwriting Criteria
-          Freddie Mac in 1970 established by a league of community based savings banks – to eat away at Fannie Mae’s monopoly – ie: Fannie Mae Competition
The Mortgage Backed Securities:
-          At Salomon Bros there was a fellow named Lewis Ranieri – Mail Room to Trading Floor
-          God-Father of Mortgage Backed … Brought in Mathematicians from MIT & CAL Tech to manipulate the payment stream to create new financial products – low rate = long hold & high return = shorter hold [Tranches] & CMO – Collateralized Mortgage Obligations
-          Ranieri was beautifully depicted in Michael Lewis’s Book “Liar’s Poker”
By contract, originators cannot encourage prepayments
During the same period we have a Tech revolution: Artificial Intelligence in Underwriting, Credit Scoring, and access to seemingly limitless data on valuations.
CRA???  /// income tax in 1913
These new financial products and unprecedented availably of mortgage money fueled our economy and real estate values everywhere.  With a few bumps & disasters in the road [ S&L crisis, oil embargo, Long Term Capital Bail – even 9/11 – didn’t slow the market  for more than 60 days --- the mega-boom lasted for 30 years.  Look at Bedford falls (It’s a Wonderful life) in 2006 - they have 2 Malls, an amusement park, tons of grade “A” housing.  Every house has a center island kitchen, cushioned lawn furniture and stainless steel outdoor barbeques.
We had so much liquidity that we almost drowned.
My story: with WaMu and Chase
Story: Bear Sterns Selling Negative Amortization AND onerous prepayment penalty
Story: Summer of 2007, docs went out for closing but wire never hit – American Home Mortgage.
This was the sound of first gun fire.
2008: We saw the whole calamity play out on TV: Lehman, Bear Sterns, Merrill, Solomon Smith Barney, and Countrywide Mtg.
The regulatory big swing of the pendulum
Airplane style safety check lists implemented
No Room for Common Sense: paying high rate on time …
No income check GONE
Auto Loan story in late 1989/90 @ GMAC
What is available today: lots of money if you qualify – 97% from FHA
Some flexibility is coming back: “all gift” is okay --- without generational wealth the home-buying world stops
Government pronounces QM [Qualified Mortgage] and a uniform ability to repay

This Friday at The Briar's: Sup't James Kaishan on Briarcliff Schools.

Elinor Yuter, Reporter
Rachel Leihbacher, Expediter