Ones daily life has a way of making you feel very small and at times inconsequential. Then there are days when your head is above the fray and you see that you can make a difference.

Just this Monday I had an opportunity to become part of something bigger. I participated with other members of my profession in a “lobbying” day on Capitol Hill. The issue at hand was whether the SEC will no longer allow shareholders of publicly traded companies to nominate board members. During the past year there has been a push to limit the nomination process to company managers only, and just allow shareholders the right to vote for the management’s candidate. A style of election that an article in today’s LA Times called “soviet style”!

During our day on the Hill organized by the Social Investment Forum (www.socialinvest.org), we largely met with staff of the House Financial Services and Senate Banking Committees (unfortunately, you rarely get to see the actual representatives or senators). We emphasized how more people own public equities than ever before through retirement plans and mutual funds, and this new “ownership society”, to borrow a phrase from the Bush administration, had the right to be true owners; not just rubberstamp voters.

Our visits did seem to help. The house will be holding hearings on this matter this week (Thursday September 27th) and hearing our point of views was timely. I believe that congress and the senate now realize that this is not just some policy wonk discussion, but a matter that affects most people in this country.

To learn more, go to the Social Investment Forum website. And more importantly, if you want to offer your opinion, call your representative and senator. They need to hear from you.

John Campagna
09272007

Much reporting this week on housing.

Home builder earnings along with existing home sales likely will change the perception of the US economy to a "glass half empty" from the more optimistic view. Job cuts in home construction are accelerating and confidence is low.

Are we already in recession?

OSF Sept 25 2007

Is it possible that the recent back-up in short US Treasury prices is being caused by China and others unloading some of their massive holdings of US debt?

OSF
Sept 17 2007

I think a few words from you regarding how we protect against losses would be in order. Otherwise one can look at long term value and buy small undervalued positions when there is a vertical drop unrelated to that particular investment. This with a measured portion of the overall portfolio. The remainder will remain in a fairly defensive posture for now. I am most interested now in our research into socially beneficial fixed income opportunities. More on that as our research grows.

G. Benjamin Bingham
September 7, 2007

Perhaps the turmoil in US and global credit markets and the decline in housing values (wealth for most Americans) will usher in a new era of thrift, modesty and frugality. If so, the look and feel of the US economy will be much different ten years from now.

What are the investment possibilities in the near and long-term if this change is upon us?

OSF
September 2, 2007