Please click HERE for more pictures and a journal of the Briarcliff Manor Memorial Day Parade of 5/26/2014.
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.
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
BRIERCRIER
May
23, 2014 at The Briar's Restaurant, 512 N. State Rd. of Briarcliff
Manor Rotary Club Meeting.
TODAY
IN HISTORY
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.
GUESTS:
None
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.
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.
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
BRIERCRIER
May
9, 2014 at The Briar's Restaurant, 512 N. State Rd. of
Briarcliff Manor Rotary Club Meeting
TODAY
IN HISTORY
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
SUMMARY
OF TALK
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
BRIERCRIER
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
BRIERCRIER
April 25, 2014 at The Briar's Restaurant, 512 N. State Rd.
of Briarcliff Manor Rotary Club Meeting
TODAY IN HISTORY
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.
SUMMARY OF TALK
History of the Mortgage: Mort-gage = Death Pledge
Knight Errant, came home from the crusades
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.
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
Ranieri was Business Week’s “ONE OF THE GREATEST INNOVATORS OF THE PAST 75 YEARS” & MORE RECENTLY ON TIME MAGAZINE’s List of the TOP 25 PEOPLE to BLAME for the FINANCIAL CRISIS
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.
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
This Friday at The Briar's: Sup't James Kaishan on Briarcliff Schools.
Elinor Yuter, Reporter
Rachel Leihbacher, Expediter
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