Tuesday, August 18, 2009
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||CELEBRATING 10 YEARS
||IT WAS THE SUMMER OF '69
On The World Wide Web
The folks at CNN.com take a look back at the eventful summer of
back in time with them.
We're all guilty of the occasional typo. And sometimes they're just
downright funny. Laugh along with
some of the best.
Is there a comic lurking within you? Build your own comic strip.
Tip of the Week
The amount of email flowing into an inbox during a typical business
day can be staggering. It can be almost impossible to read every
message to know which require action, which are merely informational
and which are for entertainment purposes only. If your message
requires action, say so in bold caps in the subject line to get your
reader's attention. Otherwise you risk it getting lost in a flood of
unread messages. Those who are conveying information should use FYI:
(topic) in the subject line so the reader knows immediately what
value that message holds. Make sure your subject line is descriptive
enough for the recipient to know exactly what content to expect, yet
concise enough to fit into a few words. What newspaper heading would
you give this information if it were an article?
Do you really need to send that email? There's no need to copy
everybody on each progression of a discussion. Busy managers need to
know you've solved a problem, not follow you every step of the way.
If you've gone back and forth with an email chain and still not
resolved the issue, try picking up the telephone.
For more email etiquette tips, visit netmanners.com.
"The way to develop self-confidence is to do the thing you fear." -
William Jennings Bryan
Today in History
1961 - Construction on the Berlin Wall is completed.
Silly String, Toss Across, Big Wheels and Nerf Balls were the most
popular Christmas gifts in 1969.
Check out our new Form
Center to find the forms you need to conduct business with GCF
Bank and keep your account updated!
Our Current Rates:
For a listing of our current deposit and loan rates, visit
CELEBRATING 10 YEARS
Happy 10th Anniversary to GCFlash!
What began as a tool to communicate Y2K efforts has far outlasted
any ramifications from what turned out to be a non-event. But we did
take the threat seriously, testing every workstation, program and
process in our system thoroughly to assure our customers would be
able to access their money when the new millennium finally arrived.
While the rest of the world was "partying like it was 1999," our IT
Director devoted that historic night to standing guard at the bank,
prepared to spring into action should calamity arise. You may have
even heard his huge sigh of relief at the tic of midnight when it
remained business as normal. No matter where in the country you may
be reading this from.
Ten years ago:
- The Euro is established;
- The Asian economy was showing signs of recovering from a
financial meltdown that was predicted to bring on a global economic
- The first version of MSN Messenger is released. Apple releases
the first iBook;
- Lance Armstrong won his first Tour de France;
- ExxonMobil Corporation merger is completed, forming the world's
We hope you enjoy the new look we've given GCFlash. As always, we
welcome reader suggestions, ideas and feedback. If there's any topic
you'd like to see covered in a future edition of GCFlash, let us
know. Send your comments to firstname.lastname@example.org.
This eNewsletter has evolved pretty far from our first release. But
one thing is for sure - time definitely does fly when you're having
fun. We look forward to what the next 10 years will bring!
IT WAS THE SUMMER OF '69
When Charles Dickens penned "It was the worst of times, it was the
best of times....," he could have been describing the summer of 1969.
It may well have been the most turbulent year in U.S. history.
Woodstock best summed up the culture of the era. The entertainers
sang about subjects near and dear to the hearts of young Americans
over the course of four days celebrating peace, drugs and rock and
roll. The Vietnam War was protested by Country Joe Mcdonald's Fish
Cheer (I-Feel-Like-I'm-Fixing-To-Die-Rag) and Richie Havens'
Freedom. The Band reminded us that we are our brother's keeper
in The Weight.
Arlo Guthrie addressed the drug culture in Coming into Los
Angeles and Jefferson Airplane with White Rabbit; while
Crosby, Stills, Nash and Young were riding the Marrakesh
Express. Jimi Hendrix brought out the patriot in everyone with
his stirring rendition of our Star Spangled Banner.
The festival began August 15, 1969 with an anticipated crowd of
50,000. By that afternoon, Arlo Guthrie informed the crowd that they
had shut the New York State Thruway down. It was a virtual parking
lot, jammed with traffic from the 400,000 that actually showed up for
the event. Many just abandoned their car on the road and trekked the
rest of the way so they wouldn't miss any of the festivities.
It was impossible to control such a large crowd so it became self-
policing. These young people showed the world that peace, love and
good music were all the governance they needed. There were very few
incidents of violence. Born was the summer of love.
Not so in California. By year's end, a similar festival would be
marred by tragedy.
The rolling Stones were celebrating the end of their American tour
with a free concert at a raceway near Altamont Pass, CA. Also
performing were some big-name West Coast bands, including Jefferson
Airplane and the Grateful Dead. The Hell's Angels provided informal
security at Dead shows and it seemed a good idea to ask them to do
the same here. But the large crowd of 300,000 was a bit more unruly
than the small, mellow group that followed the Dead. Small fights
began to break out in the crowd. One fan pulled a gun. The Angels
stopped him with a knife and took his life. The spirit of peace
surrounding Woodstock just four months earlier was forever shattered.
Music became the voice of the generation. It enabled young people to
voice their displeasure with a meaningless war in a non-violent form.
Protests across the country began that way, but often got ugly. Yet
the sheer number of Americans represented by these protests forced
the Administration to take their sentiments seriously.
The U.S. began sending arms to aid the French efforts in Southeast
Asia in 1950. Thus began our entry into the battlefield, with the
first Americans killed in 1959. Peace talks were the major focus
throughout 1969, with a moratorium declared on October 15th of that
year. But by November 15th, our country's first draft lottery since
the end of WWII was instituted.
The official end of the war didn't occur until January of 1973. We
lost 58,193 brave Americans in the war effort. As of November 2000,
there were still 1,992 soldiers unaccounted for.
Returning soldiers bore the brunt of our nation's frustrations
during this atrocity. They were treated like cold-blooded killers.
Many still suffer trauma today merely because they risked their lives
in honor of their country. Determined not to repeat those mistakes,
veterans today return home to a hero's welcome.
In 1969, we were still less than 100 years into the Industrial
Revolution that would shape technology. We still didn't understand
the effects its waste would have on our environment. Two major events
changed all of that.
The scene was Cleveland, OH. Its Cuyahoga River was anything but
scenic. The oil-slicked river burst into flames with such intensity
that two railroad bridges spanning it were nearly destroyed.
Government experts reported that "The lower Cuyahoga has no visible
life, not even low forms such as leeches and sludge worms that
usually thrive on wastes." Time Magazine printed, "People who fall
into the Cuyahoga don't drown. They decay."
On the West Coast, the white sand beaches of Santa Barbara were
fouled by an 800 square mile oil slick formed when a pipe burst on an
aging Union Oil drilling platform.
In response, President Richard Nixon created the Environmental
Protection Agency that began operating in December 1970. Activists
proposed an annual "Earth Day" when ordinary citizens would honor the
planet. The first Earth Day was held on April 22, 1970.
Senator Ted Kennedy prompted the question "What was he thinking?"
when a car he was driving plunged into the waters off Chappaquiddick
on Martha's Vineyard. He didn't report the incident until the
following day. Nor make an effort to save the life of his passenger,
28-year-old aide Mary Jo Kopechne.
The senseless, brutal murders carried out by the Manson family were
far too horrific to be recounted here.
There's a saying related to the drug culture of the day that goes:
"If you remember the '60s, you really weren't there." Even if you
were, parts of it are best forgotten. And that's alright, as long as
we don't forget its lessons.
The Federal Reserve Board met last week, announcing that the
recession appears to be ending. The bank lending rate would remain at
the near zero rate for "an extended period" to continue supporting
Worldwide, there are signs that the economy may be turning for the
better as well. The Hong Kong economy tanked four straight quarters
with a dropping world demand for exports. However, the Chinese
government reported that this drop was reversed with a 3.3 percent
growth in the quarter. In Europe, job cuts are slowing and spending
has increased at both the store and in the housing market. The
largest segment of Europe's economy, Germany has also shown increased
exports and industrial orders.
In the U.S., inflation, or rather deflation, was reported by the
Labor Department with the producer price index dropping 0.9% since
the prior month, and falling 6.8% over the last twelve months. The
measure of wholesale inflation was impacted by a 10.2% drop in
heating oil costs, while gas prices went up 3.3%, (before the cash
for clunkers programs.) The PPI without food and energy was down .1%
in the month but has gone up by 2.6% over the past year. The Consumer
Price Index remained level for the month, dropping 1.9% from last
Knowing that I just spent 2.49 for gas and 3.54 for milk, in the
spirit of looking back in time, on January 1st:
| Federal spending
|Median House Income
|| $ 8,389
|| $ .25
|| $ .15
|| $ .06
|Gallon of regular gas
|| $ .35
|Gallon of Milk
|| $ 1.10
Today’s Market Rates
Tuesday, August 18, 2009
Dow Jones Industrial Average
(Up 441.55 or 5.03% since 12/31/08)
(Up 86.42 or 9.57% since 12/31/08)
(Up 378.89 or 24.30% since 12/31/08)
|10 Year Treasury Bond Yield
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rates on both deposit and loan products, selected financial news and
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