Hello from Coronado. After several weeks of illness. I am back to my favorite place and eager to update you on what, in my opinion, is happening in our state and country.

The democrats are playing the same old record: destroy the competition with lies and half truths, find so-called witnesses that will say anything that the party wants in the media. The main problem seems to be that Mr. Cain is a conservative Republican that is not “owned “ by the Democrats”. The differences between Obama and Cain are stark. In regard to theology, Cain believes that life begins at conception and that marriage is between one man and one woman. Obama supports taxpayer funding of abortions. Obama looks to government run jobs as opposed to using private industry as the solution to economic growth.

Past proclamations by Obama in regard to global warming “clean energy” or “green energy” is still his only answer to our economic problems. Never mind that the latest geology findings are proving that the U.S. has plenty of oil and gas if only the government would get out of the way and let our oil and energy industries find it and drill for it.

Obama has done it again. After stressing “shovel ready” jobs he has put a hold on the proposed Keystone XL pipeline from Canadian oil sands to U.S. refiners., delaying a decision until after the 2012 election. According to Investor's Business Daily, Nov 11,2011 the project could create some 20,000 jobs and reduce energy prices. The greenies want to reroute the pipeline around the aquifer that supplies water to eight states. The process will take at least a year despite, Canada which is ready to run a pipeline to its west coast and send its tar sands to energy hungry China. A number of unions ,part of the Democratic base are backing this because they want and need the jobs. The Keystone XL pipeline could carry as much as 700,000 barrels of oil a day and create about 20,000 construction jobs, union jobs that increase American workers income by $6.5 billion. Sinopec, a Chinese State controlled oil company has a stake in a $5.5 billion plan to build a pipeline from Alberta to the Pacific Coast province of British Columbia. Obama needs campaign donations and willing political operatives. So much for energy and jobs. Nothing will probably be done before the 2012 November election, the environmentalists will get their way and the public be dammed. When I was a trainee for Dean Witter in San Francisco in 1958 , our class of about 10 other trainees was diligently going over Graham and Dodd the “bible” of security analysis when one of our instructors came into our room and asked who would be interested in attending a “due diligence” meeting regarding an upcoming stock of a company called Hewlett Packard. I volunteered to attend the meeting. A Due Diligence meeting includes normally the principals of the company, lawyers and accountants , the underwriters of the offering and others that I cannot remember. David Packard and William Hewlett were also there. After listening to the story about Hewlett Packard, I was very excited about the prospects of the company. There was a small problem in that I had student loans and no job at that point and could not invest in this new company. I kept the original prospectus on Hewlett Packard, but I misplaced it. I can only wish that I had invested in what turned out to be a fantastic investment. In future blogs I will attempt to calculate the return, assuming that I had purchased Hewlett Packard shares in 1958 and held them to the present time.

Gary E. Marsella

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