Strutting Their Stuff

Last night heard a chorus of Boreal Owls for ABA #636, then made the pre-dawn trip to see dozens of Greater Sage-Grouses dance and strut in front of six hens.  ABA #646.  Here’s a photo from Google Images of their display:

Heading back to Walden, at sunrise:

Colorado at sunrise!

After seeing #644 (Gunnison Sage-Grouse) at the crack of dawn at a lek near Gunnison, we headed through the mountains back toward Denver to check out Boulder, before we’ll head north to hopefully see a Greater Sage-Grouse tomorrow morning.

Paris Continued:

Now in London, wrapping up the trip.  But first, some photos earlier from Paris:

 

I’m not kidding, the entrance to the new Abercrombie & Fitch store:

The ever-present pastries:

The dome in Galleries Lafayette:

At Rodin Museum, his works before they were cast in bronze were a couple of my favorites (this one -  Burghers of Calais):

Claude Monet painting in Museum l'Orangerie:

And finally, photo of me reaching 10 mile mark, haha:

Back in Paris

Arrived this morning, spending the next few days here:

'Mad Men' Brings Back Memories

I grew up in a community between Alexandria and Mt. Vernon called Hollin Hills (it has it’s own Wikipedia page (link).  All of the 450 homes were designed by Charles Goodman and built by Robert Davenport, mostly in the late 1950’s and 1960’s. The community was sort of the ‘island’ for creative, open-minded types in a sea of conservatism; it attracted artists, writers, newspersons and liberal thinkers.  When 'Mad Men’ was first broadcast, I was immediately brought back to my youth: we lived in a home like the one here, similar to the one that just won The Washington Post “Mad Men” Look Contest (link).

 

Why I'm Shorting JCPenney

A few years ago I wrote what continues to be the only book published about Kohl’s Department Stores (paperback).  In the chapter reviewing our business model and how our Hi-Lo pricing strategy helped create a ‘wedge’ between then discounter Target and a traditional department store like Macy’s, I spoke of how EDLP (Every Day Low Pricing) was a fool’s errand:

“We had an aversion to the notion of EDLP… Sears had tried it in the 1980’s, only to abandon the strategy after sales plummeted and market surveys revealed that their core customer thought they were no longer getting the same kind of deals.  In my mind, the only time EDLP works is when the truly lowest price retailer can put a stake in the ground and claim they they will always have the lowest prices.  Only one guy can do that, and their name is Wal-Mart.”

This is a no-brainer.  The typical shopper at Penney’s is a Mom and often breadwinner who takes pride in searching for a deal.  She enjoys coming home with a sense of satisfaction that she was successful in her quest.  I can guarantee you that if you set up two tables of the same sweaters in opposite ends of the Missy apparel department in a store, and on one you have a sign that says 'Everyday Low Price $29.99’ and the other says 'Save $30.00, 50% OFF, Sale $29.99’, there will be no contest.  The sale table will always win.

A couple of weeks ago I finished the Steve Jobs biography, which included the successful contributions of his Senior VP of Retail, Ron Johnson, and his valuable role in developing the concept of what has become one of the most successful retail formats in history - the Apple Store.  Last year, Johnson left Apple to become CEO of Penneys (after 11 years with his former company, it’s reported he made over $400 million).  He is the architect behind JCPenney’s new pricing strategy.

The idea that you can transfer the success of Apple’s pricing to a department store like Penney’s is just way too much of a leap.  You’re jumping off the cliff.

I love the Ellen DeGeneres ads.  I also love to make money.  I sense an opportunity. 

Playing with the Pro

Last week had the pleasure of playing with professional golfer Jennifer Song in a pro-am charity event before the RR Donnelly LPGA Founder’s Cup.  On the last hole of the round, a par 5, after all of us in our foursome had hit our third shots in the scramble best ball from 89 yards out, Jennifer proceeded to eagle the hole for us!  And yesterday, she finished tied for 6th in the tournament, winning $41,000!  Congrats!

Snow in Scottsdale, 80 Degrees in Milwaukee

Egads.  Every time I see Sen. James Inofe (R-Oklahoma), I wonder: has he ever been to a place where there are/were glaciers?  We are seeing environmental changes in our lives that are moving at warp speed.

Dr. Richard Carmona in the House

It was a privilege to host the former U.S. Surgeon General under President George W. Bush, Dr. Richard Carmona, at our home for a reception.  Dr. Carmona, who all of his career was an Independent until recently becoming a Democrat, is running for the U.S. Senate seat currently held by retiring Sen. Jon Kyl.  Team Obama strongly encouraged Dr. Carmona to run, clearly believing that Arizona could be in play this November.  For more: (www.carmonaforarizona.com).  

Scenes from Recent Travels

Right after the performance:

Black truffle stash at the restaurant (!):

Back in Phoenix - Carvin Jones wailing on his guitar playing Stevie Ray Vaughan in the audience:

In Tonto National Forest on the top of a mountain with Roger:

ABA Lifer #643

Wrapping up my California trip involved heading down this afternoon to the San Elijo Lagoon north of San Diego to see what turned out to be a beautiful male California Gnatcatcher.  While common in Mexico, only about 2000 pairs breed in the U.S.; the photo below shows the short coastal sage shrub where I found the bird.  Way back when we lived in LA in the late 1980’s I passed this area dozens of times traveling on Interstate 5 (it’s in the background); I never took the time to find this bird and check it off.  Finally I tracked one down!

A photo of the bird, courtesy of bird-friends.com on Google Images:

L.A.

I flew in today to attend the world launch party of a new premium rum called ‘Caliche’.  I took a few photos of my travels.  I started with a first-time visit to the J. Paul Getty Museum.  I’ve heard over and over that this is a must-see, but it far, far exceeded my expectations.  What a complex, what a piece of real estate, what a collection of art:

Coming toward the end of the day and I was treated to being alone in rooms with fantastic art:

See if you can find the celebrities in these party shots.  Here are some hints.  First: Boardwalk Empire.

The 70’s Show:

I have no idea:

Sports legend:

Hall of Famer Model, who with her husband co-hosted the event:

And as a fun ending to the evening, the 'Final 13’ American Idol contestants were checking into the hotel.   

Seriously, a Money Manager Wrote This to Me!

I am on the board of a non-profit in Milwaukee that is in great financial shape with a lot of cash that can be invested, and we regularly get financial performance updates from the professional money managers we’ve hired who oversee some of our investments. These managers are with a well known, national brokerage firm.  Here is what they wrote in their most recent letter:

“It is difficult to find active managers who can consistently outperform their respective benchmark over time, net of fees.”

Huh?  Really?

The benchmarks are easy to understand:  the Russell 2000, S & P 500, comparatives like that.  And this firm want us to pay them a fee so we can underperform the benchmarks?

No wonder why ETF’s and index funds have taken such huge market share.

New Window Tape Reduces Bird Collisions at Home

Every year, up to a billion birds die in the U.S. crashing into glass windows.  For the last couple of years we’ve been working to design, manufacture and distribute a window tape at a reasonable cost to significantly reduce bird collisions at home. Supported by the Rusinow Family Foundation, a new tape is now available through the terrific efforts by the folks at the American Bird Conservancy (click the graphic for a link):

 
We are eager to expand distribution to retailers throughout the world.  Please let me know if you can help, it would be much appreciated.
And, of course, if you have issues with birds colliding into glass in your home, please consider purchasing some tape!

Live Video of New Death's Door Distillery

I’m on the board and lead investor of Madison, Wisconsin based Death’s Door Spirits.  The company has begun building a new distillery, as well as launching an aged whiskey production program, to complement the current stable of award-winning gin, vodka and white whiskey:

Video