“I love you.”
–President William Jefferson Clinton to his wife Hillary, a truly
tender moment during the President”s State of the Union address.
Upon hearing this I promptly coughed up my Chex Mix.
“We are fortunate to be alive at this moment in history,”
commenced the President. True, I”d rather be alive than dead,
both now or 100 years ago.
“The state of our union is the strongest it has ever been.” Now
that”s probably accurate, if you owned Qualcomm at $3, Yahoo!
at $4 or if your father doesn”t happen to be a NBA ballplayer.
If you”re in the Army and haven”t received the training you need
in case a crisis erupts, you may disagree.
“As always, the real credit belongs to the American people.” No
s—, Sherlock! But then he spent the next 88 minutes telling us
why He deserved the credit. More on this later.
“7 years ago, everything was unimaginable.” Spare me. My
beloved Wake Forest Demon Deacons recruited Tim Duncan.
“We should make America the safest big country on earth.” Boy,
that”s tough. The competition from a population standpoint is
China, India, Indonesia and Russia.
“We should pay off the national debt.” O.K. Not necessary but
I”ll accept this.
“We should bring prosperity to every community.” What are you
smoking, El Presidente?!
And towards the end of the speech, Clinton said something close
to the following (I don”t have the exact words):
We need to honor and celebrate America”s diversity…Hillary and
I were at this dinner party at the White House and there was this
real smart scientist. He”s one of those mapping the Human
Genome. And he said, now listen to this, that because of our
genetic makeup, we are all 99.9% the same.
Oh, shut up. Try telling this to a Serb facing an Albanian, or a
Hutu facing a Tutsi. Get out of your dream world!
I don”t deny we live in boom times in this country. I have also
written that our chest thumping pisses me off. Are we in the
midst of a new technologically driven era? Of course. Does that
eliminate the need to discuss foreign policy? Of course not.
Now it”s a poll-tested fact that if you are Bill Clinton you”re a
fool to bring up international affairs. We wouldn”t want to
sprinkle a dose of reality dust on everyone, would we? So it was
no surprise that some 60 minutes into his speech, he commences
with about 7 minutes of foreign policy drivel…followed by
another 22 minutes of “How Great Thou Are.”
I bet you didn”t know that Russia and China aren”t worth losing
sleep over. Clinton also casually mentioned potential issues in
Colombia (I told you about this new commitment a year ago), Greece /
Turkey, India / Pakistan, North Korea, Iran and Iraq. Kosovo was
trumpeted as a huge success. Yes, we didn”t lose one soldier and for
that we”re grateful. But in 2010, I”ll be writing that our men and
women are still there.
Actually, maybe it”s not all bad he didn”t dwell on the negative.
For those who want to know what”s really going on, I”m here for
you.
You know, this week Clinton gave PBS” Jim Lehrer an interview
wherein he said that the independent counsel investigation that
shadowed most of his presidency was “bogus.” Said Bill, “First
of all, I made one mistake. I apologized for it, I paid a high price
for it and I”ve done my best to atone for it by being a good
president.”
Mr. President, you”re right. You paid a high price. And this
week, as a reward for your efforts, the Arkansas Supreme Court
ordered an investigation that may ban or suspend you from
practicing law in your home state, forever, as a result of your
contempt of court citation by federal judge Susan Webber Wright
in the Paula Jones case.
And finally, on the issue of the economy, you know who deserves
a lot of credit that doesn”t receive it? Ross Perot. Let me remind
you.
1992 Presidential Election
Bill Clinton 43%
George Bush 37%
Ross Perot 19%
I voted for Perot and to this day I was never prouder of a single
vote in my life. That little guy with the half hour commercials and
the flip charts, expounding on the national debt and fiscal
discipline, deserves our undying gratitude for bringing to the
national spotlight problems that needed to be addressed.
And let me remind you, again (for long-time readers), that when
Clinton took office in January of 1993, he wanted to ram through
a huge spending package to stimulate an economy that, history
shows, was already well on its way to a full recovery (from a
shallow recession smartly exploited by the Democrats). Clinton”s
spending package was slammed back in his face (by Republicans,
fiscally conservative Democrats, and the bond market). He pulled
it off the table, adopted a mostly Republican agenda, lost
Congress to the Republicans in ”94 and the rest is history.
There”s only one problem for folks who lean “right.” Our damn
Republican leadership has been miserable since the ”94 election
and they have done a terrible job of setting the record straight. I
just did.
Wall Street
“A cancer is spreading in our industry. Too much money is
coming together with too many young people who have little or
no institutional memory, or sense of tradition, and who are under
enormous economic pressure to perform in the glare of
Hollywood-like publicity. The combination makes for speculative
excesses at best, illegality at worst.”
–Wall Street giant, Felix Rohatyn
I would argue the above certainly describes today”s investment
environment. But it wasn”t written last week. No, actually
Rohatyn is currently our ambassador to France. I came
across the quote in doing some research for my “Wall Street
History” link (where you will see it again in one of my upcoming
pieces on Michael Milken). Rohatyn was commenting on the
excesses of the 1980s. It”s a statement that works perfectly for
today and was further amplified when I saw in Friday”s paper that
the two Co-founders of the theGlobe.com, age 25 and 26, were
forced to step down for a pretty good reason. Aside from the
fact that the share price had fallen from $90 to a mere $8 in the
past year, they never had a freakin” business model!
It was one ugly week on Wall Street. The Dow Jones fell 513
points, 4.6%, to 10738. It is now down almost 1000 points in
just the past 2 weeks. The Nasdaq took a drubbing as well, off a
whopping 8.2%. The Dow is now off 8.4% from its record close
of 2 weeks ago while the Nasdaq is off the same 8.2% from its
high set the previous Friday.
I was reading an interesting piece concerning the work of Steve
Galbraith of Sanford C. Bernstein. Galbraith found that last year
of the 50 Nasdaq stocks with the highest returns in ”99, only 15
made money. And the average turnover in this group was a
staggering 600% (in other words, bought and sold six times).
Compare this with turnover on the whole New York Stock
Exchange which was 79% (which still represented a doubling for
the NYSE since 1990). So yes, just more evidence that much of
last year”s Nasdaq action was of a casino nature. And in a casino,
the house always wins (unless you”re a crook).
But this week the equity market was roiled by economic numbers
and the bond market. The government released the data for 4th
quarter GDP and it came in better than expected, a stupendous
5.8% increase. The U.S. economy has now grown 4% or more
for a third straight year. Consumer confidence remains at an all-
time high. February will mark the longest boom in our nation”s
history, 107 months of uninterrupted growth.
However, some of the inflation indicators released this week were
higher than expected as well. And even though the raw data still
shows inflation to be tame, it is the upward trend in some of the
numbers that worries the markets. This week a term reentered
the investment lexicon in a big way, “inverted yield curve,” which,
simply put, means that some maturities like 5 and 10-year bonds
have higher yields than 30-year ones, opposite of what is normally
the case. What made this week so crazy was that the 2-year note
was also trading with significantly higher yields than the 30-year
(the first time this has happened since 1990). Here are the
spreads at week”s end with the 12/31/99 level for comparison.
2-year 6.54% [6.24%, 12/31/99]
5-year 6.64% [6.33% ]
10-year 6.64% [6.43%]
30-year 6.44% [6.48%]
What does it mean for the future? Beats the hell out of me and
anyone who says they know definitively is full of it. Why the
heck do you think the markets acted the way they did all week?
No one friggin” knows what to make of these yields, and
uncertainty and confusion breed excessive volatility (almost
always on the down side). [I should add that historically an
inverted curve can augur a significant slowdown in economic
activity and, if that proves to be the case, what does that mean for
corporate earnings?]
Sure, there are some real answers for the inversion, chief being
that the supply of 30-year bonds is being reduced as the
government pays down the debt. It is being taken off the table
while at the same time some money managers and pension funds
are mandated to hold long-term paper, i.e., Econ 101 tells you
that from a supply / demand standpoint the yield on the 30-year
was bound to fall. At the same time, the 2 to 10-year part of the
curve is picking up the inflation expectations fight.
Which then begs the question, is the 30-year still a true barometer
of inflation expectations and, since it is no longer simply
economic fundamentals that drive its value, does it matter?
Maybe not. So at S&N we will begin to bring you more than the
one value in the future.
But regarding the market uncertainty, clearly the recent turmoil in
the bond pits means there are some big losers out there, i.e.,
hedge funds and other money managers. It”s only rumored so far.
Within a few weeks we”ll know who was caught with their pants
down.
As for the Federal Reserve, they meet next week and even
Eskimos on a seal hunt know the Fed will raise interest rates. It
will be 25 basis points now and 25 more in March (unless the
stock market totally collapses in the intervening time period).
And 25 more…and 25 more…
A few notes on stocks. Around Christmas, Qualcomm traded at
exactly $200. Today it”s $110. Just a drop of 45%. No sweat.
And Yahoo!, which hit $500 (again, exactly) a few weeks ago is
now $313, a 37% decline. I said last week that unless you know
what you”re doing, stick with a good technology mutual fund
when it comes to this sector. I”m not aware of any tech funds
that are down 37 or 45 percent in the past 4 weeks.
And Amazon.com issued its first pink slips, for which the stock
promptly fell $5 and is now almost 50% off of its high.
Other tidbits. Alan Greenspan, in his renomination hearings, said
he was very worried about the level of margin debt. I guarantee
that this week some investors received calls from their brokers
that they didn”t expect. “You mean I owe what? Hold on a
second….Honey, you know that vacation we were planning to
Barbados?” [Editor Note: The smartest thing I have ever done in
my life is never opening a margin account].
The Euro fell below $1 for the first time since it was launched last
year at $1.16. I don”t think it”s a serious problem, yet. The
lower value certainly helps Europe”s exporters (and their
economic recovery) as it makes their goods cheaper.
Finally, Mike Doonesbury”s software company, Mikim, was the
victim of piracy by Microsoft and Mikim stock, at last word, was
about to be de-listed…..Oh, sorry. I forgot this is a cartoon.
Russia
The war in Chechnya went poorly for the Russian forces this
week and the government has begun to admit to the people that
the death toll is much higher than they”ve been previously told.
Even the government controlled television networks showed
images of the carnage that heretofore they withheld. In one
particularly depressing clip, the funeral dirge droned on as Russia”s
#2 commander in the field was laid to rest in a very public ceremony.
Meanwhile, Russian President Vladimir Putin pledged to increase
overall military spending. What was left unsaid is that the
increase will largely fall into the Chechen rat hole unless the
action stops immediately. And if you”re a Chechen you can
forget about any reconstruction effort on the part of the
government in Moscow. The estimated costs to rebuild the
infrastructure are at $420 million and counting. Money that
Russia obviously doesn”t have. And, of course, do you think the
Chechen people will harbor kind thoughts over the coming years?
Last Sunday Deputy Secretary of State Strobe Talbott, heretofore
the biggest Russian apologist in the administration said,
“Chechnya is a gruesome reminder of how hard it is for Russia to
break free of its own past.”
But, more importantly for the long term, what do we make of
Putin, assuming he still wins in March (and the last poll had him
with a 62-15 lead over the Communist Zyuganov)?
Following are two comments from this past week that are worth
noting.
First, Sergei Kovalev, human rights campaigner and member of
the Russian Parliament. “Putin will build an authoritarian police
regime that will preserve the formal characteristics of democracy,
and will most likely try to carry out reforms leading to a market
economy (but) life will not be sweet for Russia”s fledgling civil
society.” Sergei seems a little confused but I think you get the
point.
There is no confusion, however, when reading the comments of
Yelena Bonner, widow of 1975 Nobel Peace Prize laureate
Andrei Sakharov, and long time human rights campaigner herself.
Bonner said that the “Chechen war is genocide and it was meant
to bring Putin to power. There is no doubt for me that Russia
will be guided towards a military-police state with Putin.”
As for supplying the Russian government with E.U. or IMF aid
Bonner commented, “It seems to me unthinkable to free funds for
Russia. It is as if the West were to grant loans to Nazi Germany
just as they attacked Poland.”
More International Affairs
China: Last week I hinted at the evolving corruption scandal
which is engulfing the nation. It involves a smuggling operation,
the biggest since the Communist revolution in 1949, and it
originated in the port city of Xiamen. Over $10 billion in goods is
involved, including oil, cars, telephone equipment and
semiconductors from Taiwan and Southeast Asia.
In Xiamen, “law and party discipline became irrelevant in a whole
city.” Senior generals in the People”s Liberation Army as well as
top Communist Party officials are implicated. There are hundreds
of agents now working on the case with an equal number under
house arrest.
The seriousness of the case presents a real threat to the Party”s
role in China. As one analyst said, “These criminal schemes will
destabilize the political and social situation in China much more
than one or two dissidents on the streets with slogans.” China”s
government kept this secret for months. Now that word is out, it
bears watching.
And, if you ever harbored dreams of a freer China in the next
decade, think again. This week the government clamped down
on the Internet industry, including the order that software
companies have to give up their encryption software (security
codes), enabling the Chinese to tap into every site. Expect many
in Congress to use this as an example when the debate over
China”s admittance to the WTO heats up.
India / Pakistan: The U.S. now believes that a terrorist group
supported by Pakistan”s military was responsible for the Indian
Airlines hijacking. India, which first brought this to our attention,
now wants the U.S. to place Pakistan on the list of nations that
sponsors terrorism ( a la Iran and Syria). Separately, 6 of
Pakistan”s 13 Supreme Court judges refused to take a new oath
of office that would bar them from challenging army decisions.
Pakistan”s ruler, General Musharraf, then dismissed the judges.
What should be of concern to all of us is a trip that President
Clinton is planning for the region in late March. Currently, he is
scheduled to go to India and Bangladesh (regarding the latter,
who knows why) while not going to Pakistan (our traditional
ally). I warned months ago that this is a dangerous escapade and
Clinton should postpone it. Aside from very obvious security
concerns, this is no time and place for a high profile visit from
the West”s leader when many figures in India and Pakistan hate
our guts. It can only serve to inflame tensions. Instead, it is time
for a Henry Kissinger type diplomat to quietly work some magic
behind the scenes. Alas, the Clinton administration is bereft of
such figures. But maybe they can convince Kissinger, himself, to
volunteer. [I know I”m dreaming, and praying, because this
region is one ill-timed tirade away from blowing up].
Austria: When I wrote my year end review a few weeks ago, I
mused about the emergence of a new Far Right, Nazi-tinged party
in Austria. Little did I know that just 4 weeks later the Freedom
Party, under the leadership of the charismatic Joerg Haidar,
would be invited into the ruling government coalition. Haidar has
espoused anti-immigration policies while at the same time praising
Hitler directly. Israel is furious and will likely break off
diplomatic relations.
The Haidar story has legs. He is quickly building a following and
the Austrian peoples acceptance of him should scare every
freedom loving person in the world. There are those who say
Haidar will now moderate his views to become more palatable to
the masses. Undoubtedly, he will for public consumption. Don”t
fall for the trap. And it bears repeating. Movements like these
are sprouting up during good times. Imagine what will happen
when Europe goes through its next recession.
Indonesia: The U.S. is warning against a coup as the nation”s first
democratically elected government struggles with the powerful
army and the religious insurrections taking place throughout the
land. The new president, Wahid, is showing amazing guts in
sacking 4 top generals this week in an attempt to combat the
radical elements in the military. But now Wahid has taken off on
a two-week tour of Europe and Asia. Dumb, dumb, dumb.
Iraq: The UN was pressured to pull its first choice to head up the
new arms inspection team, Rolf Ekeus. So instead they chose
Hans Blik, a man who the New York Times pointed out failed to
detect Iraq”s secret nuclear weapons program ten years ago when
he was heading up the International Atomic Energy Agency.
Germany: The campaign finance scandal within the Christian
Democratic party, formerly led by Helmut Kohl, is exploding as
predicted. Yesterday, the party admitted that $10 million plus
was squirreled away in Switzerland. And it also came to light
that former French President Francois Mitterand, Kohl”s big
buddy, was illegally helping Kohl”s party in their reelection bid
(similar to what China is being accused of with our own
Democratic Party during the ”96 campaign).
Israel: And speaking of scandals, Israel is now engulfed 3 ways.
First, former prime minister Netanyahu and his campaign
shenanigans, then current President Weiszman and now Prime
Minister Barak. An investigation was launched this week into
allegations of corruption in Barak”s election battle last year
against Netanyahu. And why hasn”t anyone mentioned that two
prominent U.S. Democratic Party operatives, James Carville and
Bob Shrum (the latter now Al Gore”s chief pit bull), ran the Barak
campaign? Barak seems like a good man and if anyone can bring
peace with the likes of Syria, it”s him. [Whether or not the
“peace” would work is a different matter]. This latest scandal
could doom Barak”s efforts. Remember, Israeli”s must approve
any treaty in a referendum. With Barak”s credibility on the line,
prospects have dimmed.
*Back on August 28th, I wrote of the chief enemy that the world
faces, corruption. Lately, others have picked up on the theme and
events since then only confirm the thesis. As I wrote, corruption
is a “cancer on the world.”
More Politics
If I was running for President I”d skip the Iowa caucuses, a total
waste of time and money. Plus about 8% of registered voters
actually participated, that”s all. Certainly George Bush and Steve
Forbes received no “bounce” from their 1-2 finish. Alan Keyes
did benefit, however, as his strong 3rd place showing garnered him
some needed publicity. On the Democratic side Al Gore defeated
Bradley 63-35, your basic drubbing.
So now it”s on to New Hampshire for Tuesday”s primary and this
one is truly crucial. McCain and Bradley must win. McCain will.
Bradley won”t. I keep forgetting I have picked up a lot of new
readers the past few weeks and I haven”t stated who I”m for in
awhile. I want McCain but I don”t think he has a chance, even if
he wins this week. But, George Bush doesn”t exactly look real
strong right now, either.
The guy who”s kicking butt is Al Gore. I have to hand it to him.
This sleazy SOB is running one hell of a campaign and, until the
other day, Bill Bradley wasn”t fighting back. I wrote last
summer that I liked Bradley. I still do, from a character
standpoint, though his policies are not welcome in my house. But
you see, I”m so sick of character-deficient folks running around
1600 Pennsylvania Avenue that I thought if Bradley were to win I
could live with that. [I don”t make any money anymore so what”s
to tax!] Well, he has proceeded to run the worst campaign since
Bob Dole and George the Elder.
As for Gore, as Maureen Dowd noted in a column this week, he”s
a flat out thug, or, more aptly, a Tony Soprano clone. But
Maureen failed to connect the dots to Gore”s “brain trust,”
including the ethically challenged Tony Coelho and Donna
Brazile.
Let”s face it, fellow Republicans (and my on-the-fence
Democratic friends), Gore will destroy Bush in a debate. If the
economy is still cranking and the Dow is above 10000 come
November, we are toast. McCain, on the other hand, would have
a shot at beating Gore but his campaign will be over by March 7th,
Super Tuesday, at the latest.
And the latest nationwide polls show a disturbing trend for Bush.
Gore has closed the gap to 47-44, Bush, from 50-39 last
December.
And I have to add a note about Alan Keyes. Only political
junkies know that this Harvard PhD is far and away the brightest
man in either field. [By the way, it was revealed this week that
Bill Bradley”s verbal SAT score was 485…and he became a
Rhodes scholar. George Bush”s was a solid 566. The other
candidate”s scores have not been uncovered by stealthy
journalists].
But Keyes was always seen as a quack, until now. If he finishes
3rd in New Hampshire, a possibility much to Forbes” chagrin,
Keyes low-budget campaign can keep him in the race at least
through Super Tuesday and he would pick up a fair amount of
press. I am more convinced than ever that, as I wrote last year,
Keyes should concentrate his efforts on 2001 and beyond and
building a viable, new Conservative Party. And heck, it”s just
refreshing to have a black conservative in the spotlight. You
know it eats at the white liberal media elite and the Jesse Jackson
/ Charlie Rangel base of the Democratic Party. Suck it up!
As for Hillary Rodham Clinton, columnist Richard Cohen finds
his way into the Brian Trumbore Hall of Fame (to be built at a
location to be determined later, probably a pub in Ireland) a
second straight week. Cohen writes of Hillary”s New York
Senate campaign.
“So far, Mrs. Clinton has been robotic as one of those recorded
messages saying what a valued customer you are. She acts as if
she just burst from a cocoon, programmed by nature to stay on
message no matter what. If she were a moth, she”d fly right into
a bug light.”
Random Musings:
–More on the State of the Union.
Can”t these guys clap properly? Gore has always looked stupid
clapping but the worst was Chuck Schumer of New York. I
mean he looked like a barking seal, awaiting his smelt!
And then there was Al Gore, straining to his left to get in the
television picture at every opportunity.
That single father sitting next to Tipper, old Carlos, was clearly
hitting on her.
As my buddy Johnny Mac said, someone get Speaker Hastert a
tailor. He looks like the guy who has one suit in the closet that he
brushes off for weddings and funerals.
Hillary wore navy blue (or was it black?), not light blue as I
predicted. Clinton”s speech was 89 minutes. I said it would be
81.
–Elian Gonzalez: The great grandmother trip, which we may see
on the Discovery Channel one day, went something like this.
Cuba to New York to Washington to New York to Miami to
Washington to Miami to Washington. Now where? I bet the
National Council of Churches agrees with me after this past week.
They should have spent their money (and the cost of this
escapade is now huge) helping a couple thousand kids gets
vaccinations or something. Elian is now officially so screwed up
that I say send him back. Otherwise, in 4 years he”ll be a one-
man crime wave over here. [In case you missed it, on Thursday
he was clubbing one of his relatives].
–“Australia Day” was January 26th. I realized this after the fact
but I vow to drink a Foster”s to toast our great ally.
–So how badly did the weather forecasters screw up the
Northeaster of ”00? At 3:30 p.m. on Monday, the National
Weather Service told Washington inhabitants that there was a
“40% chance of light snow with total accumulations less than one
inch.” 24 hours later there was up to 28 inches in the surrounding
area.
–It just came to light that James Riaddy, of ”96 campaign finance
scandal fame, hired former Arkansas Governor and Clinton crony,
Jim Guy Tucker, to a position in Riaddy”s cable operation. But
nooo, this isn”t hush money, nor was it for Webster Hubbell.
–A new study shows that men are more bothered than women by
a “bad hair day.” Personally, I agree…
–I hate to write this but it is news. Yes, Thomas Jefferson
fathered one, if not all 6 of slave Sally Hemming”s children. Now
let”s just move on folks.
–I”m amazed how quickly I have gotten over Y2K as well as
nostalgia for the 20th century. I also keep forgetting that I have a
carton of toilet paper sitting in my basement when I go shopping.
–Last fall, Jesse Jackson compared the plight of the “Decatur 6,”
the high school thugs in Illinois, to the great Civil Rights
movement. This week, one of the 6 was arrested for beating his
girlfriend as well as 2 pregnant women who came to their friend”s
aid. And I can add that there is a 99.9% chance the two pregnant
ones won”t have fathers hanging around the old delivery room.
But that”s politically incorrect for me to say and Jesse probably
doesn”t care about this broader social issue anyway.
–February is television”s “sweeps” month so, with the networks
battling and pulling out all the stops, Sports Illustrated”s Steve
Rushin had the following suggestions for ESPN drama”s that may
hold their own.
“Party of Five”: NBA star, Shawn Kemp, hosts a romantic dinner
for the mothers of his children, but only a handful can attend.
“Who Shot J.R.?”: Don”t ask transit police, who look the other
way when John Rocker takes the number 7 train to Shea Stadium.
–There”s a movement afoot to ban the use of cell phones while
driving. Here, here.
–This doesn”t warrant being included in the “International
Affairs” section but did you see the terrorist raid on the hospital
in Thailand? The perpetrators were from a religious cult based in
Myanmar (Burma) and are led by two 12-year old, cigar smoking
twins. The 10 terrorists were killed in a successful rescue effort.
The 12-year olds, back with their remaining forces in Burma,
were later forced to flee into the jungle when the narco-terrorist
government of Burma itself had had enough of the squirts.
–Finally, my Super Bowl prediction (which based on my track
record has less than a 3% chance of being correct), St. Louis 27 –
Tennessee 10.
Gold closed at $283
Nymex Crude Oil, $27.22 [OPEC is feeling the heat to open the
spigots]
Returns for the week, 1/24-1/28
Dow Jones -4.6%
S&P 500 -5.6%
S&P Midcap -5.0%
Russell 2000 -5.5%
Nasdaq -8.2% [Largest since Aug., ”98 during the Russian crisis]
Returns for the period, 1/1/00-1/28/00
Dow Jones -6.6% [As January goes, so goes the year…most of
S&P 500 -7.4% the time]
S&P Midcap -3.3%
Russell 2000 -0.0%
Nasdaq -4.5%
Bulls 55.9%
Bears 26.1% [Source: Investors Intelligence]
Coffee Mugs: It was brought to my attention that a few of you
may not have received your mugs because in some cases UPS
wouldn”t drop it off without the recipient being at home. We
have since rectified the situation. AND THERE IS STILL TIME
TO GET YOUR HONEY ONE FOR VALENTINE”S DAY!!
Just click on the logo in the upper right hand corner.
*If you have a question about your mug delivery, please send me a note
at “Contact Us” which you will find at the bottom of the Home Page.
Attention NASCAR fans. “Lamb in Command” is heading to
Daytona. Catch up on the archives.
Thanks for your continuing support.
Brian Trumbore
