No, it’s not summer yet. That happens in a few days. But the kid’s been here with his freon substitute, his grim news about the 30-year-old unit we discuss every year about now and his good-natured kidding about finding a used replacement unit. And he’s due back today. He works on hot-tar roofs in the Dallas heat. He’s young.
Judy and I aren’t.
I used to be a rower. Back a dozen years or more, I tore the bejesus out of my right shoulder (don’t ask) and had surgery. The surgeon, apologetically, suggested my rowing days were over. As if it was his fault. He was wrong, of course, both for blaming himself and in his prediction. I rehabbed for two years and took a bronze in my age group in the single sculls at Master’s Nationals. I probably could have won it, but instead, late in the final, decided I’d made my point, so why add to the pain and incur additional risk by mounting the big sprint I’d trained for?
When the red floats, marking the final 250 meters, appeared beside me, I decided to finish quietly in third. Not much of a sprint, even though my competition was gassed and I could’ve caught them. Third was fine. I’d made my point.
Judy and I are well into the red floats marking the last little bit of what’s been an extraordinary ride. It’s time to decide how we’ll finish. Sprint? Paddle? Cruise? Or none of the above?
We woke up this morning thinking about being Worried. Nothing specific. Just Worried. Going to the office Worried. Returning home after work. Worried. A spokesman for General Motors was on the TV talking about Ford’s “good luck” in avoiding a federal bailout because they had enough dry powder to stay the course long enough to be rescued by Obama’s cavalry (his “cash for clunkers” program, along with other measures designed to stimulate demand).
I likened Ford’s “good luck” to our own. We’ve survived what others have termed the “great recession” caused, essentially, by the globalization of all the elements contributing to the collapse of Texas real estate, cattle and oil in the ’80s. No one was looking, so things happened. And one thing led to another.
Judy and I lived through the ’80s in Texas working in real estate. It wasn’t easy. I learned to be a welder/bicycle mechanic while Judy learned the art “bidness”. We struggled, but we survived. The one huge lesson we carried away from those days was the need for liquidity when the worm turns. So, when the brokers brought around their derivatives, equity splits and other complicated investments, we thanked them politely for their interest and bought 0-coupon, tax-exempt municipal bonds. The rest we put in things like short-term, interest-bearing bank accounts. Oh. And real estate. Paid-for real estate in areas we loved.
After September, 2008, we got smaller, taking up our belts notch by notch. The employees who remained suffered from the lack of demand characteristic of being in a building-related industry when the lenders, using gaping loopholes in their own, federal bailout package decided to make their living collecting fees rather than lending money. We Worried we hadn’t put enough aside. We Worried our employees would get tired and give up. We Worried that we would get tired and give up. We Worried that we’d misjudged the severity of the problem and the pain inflicted by the cure. We Worried that like so much of our competition, we’d have to shut the doors.
But we’re thinking a little more positively these days. We’re feeling a little more like Ford than Chrysler and GM. We’re beginning to think we may have “gotten lucky” with enough dry powder to survive the firestorm that is the legacy of the past several years. But we’re not betting on it.
Now the red bouys are alongside. Do we sprint, paddle or cruise?
