• BBRC WEEKLY NEWSLETTER • VOL 23, NO 31, FEBRUARY 22, 2011 •
IN THIS ISSUE
"The Growth and Success of Bsquare Corporation or "How to Succeed in Business by Being Damn Lucky," Brian Crowley, CEO, Bsquare Corporation, Bellevue, a leader in the embedded software industry with a proven track record for enabling device manufacturers to accelerate time to market, lower project life-cycle costs and ship best-in-class products, will be joining us to talk about the company's present and future. Did you know that Bsquare stock has grown over 300% in the last year and was the highest growth stock (by percent) on the local stock market in 2010!? [Holert]
THOUGHT FOR THE WEEK
From Art Buchwald: "An economist is a man who knows a hundred ways of making love but doesn't know any women."
Chuck Barnes & Cary Kopczynski
Bob McKorkle, Sayoko Kuwahara & Phil Salvatori
Stewart Martin & Jim Givan
The 7:25AM bell caught me in a mid-chew state as President Chuck initiated an early start for a business session full of recognition for this President's Day weekend.
A member not caught off-guard was Past President Chuck Barnes, with his very thoughtful invocation, followed by the flag pledge. Past President Cary Kopczynski introduced visiting Rotarians and guests, which included BBRC Past Presidents: Don Chandler, Rick Meadows, Bob McKorkle, and Phil Salvatori.
Former member Stewart Martin was in the room under the alias of "Steve," and an echo from the past — "Give me an eye!" — Jim Givan, was also present.
Remember that you are always welcomed at the Bellevue Breakfast Rotary Club.
Elena "Mary" Howell & Paul "Abe" Chapman
With all the Past Presidents in the house, it was only fitting that we also experienced a visit from Past President Abe Lincoln and his supportive wife, Mary Todd Lincoln. They came to the front to play Stump the Members with a BBRC Past Presidents quiz: Miss an answer and put your contribution on the table.
If nothing else was demonstrated, it was proven that the BBRC knows its history, for very few dollars were collected.
For those of you reading at home, see how well you would have done:
So, how did you do?
CLICK ON PHOTO FOR LARGER COMPOSITE IMAGE
L-R: Margie Burnett, Jenny Andrews, Phil Salvatori, Steve Lingenbrink, Norm Johnson, Brian Evison, Kim Shrader, Cary Kopczynski, Chuck Barnes, Bob McKorkle, Jeff Cashman, Howard Johnson, Steve Meadows, Dick Brown, Don Chandler, Jim Owens, and Jim Givan
The Past Presidents were then invited to the front and introduced in order of year of service: Jim Owens, Don Chandler, Dick Brown, Rick Meadows, Howard Johnson, Jeff Cashman, Bob McKorkle, Chuck Barnes, Cary Kopczynski, Kim Shrader, Brian Evison, Norm Johnson, Steve Lingenbrink, Phil Salvatori, Jenny Andrews, and Margie Burnett. Missing were Lou Web, Dick Clarke, Bob Moloney, Sharon Edberg, John DeWater, Steve Goldfarb, and Jim Zidar. Don Deasy passed away in 2007.
Ryan FitzPatrick & Larry May
Larry May introduces our February Student of the Month from Bellevue Christian High School, Ryan FitzPatrick. Ryan is a senior and has participated in a mission trip to Costa Rica. He has also demonstrated "Service Above Self" by volunteering to to help an ailing neighbor by caring for his yard.
Ryan's future plans include attending either Azusa Pacific University or the University of Oregon. He was presented with a plaque by Larry, as his parents Connie and Dave and his brother Sean look on. Counselor Danielle Lopez and teaching mentor Ann Steffen were also in attendance.
Wendi Fischer reminded us to visit the BBRC website and sign up for the Annual Retreat at La Connor — even if you told John in December that you are coming. Let Norm Johnson know if you are planning on golfing with the Friday group at Avalon Links, and let Christine Addison know if you are a shopper.
We have five new members, but to escape the wrath of the Spider Monkey and the harsh judgment of the Sergeant at Arms bring your very own guest if you have not already.
We have a number of BBRC members with a need for your thoughts, prayers, and concern. Bob Moloney is in Overlake recovering from surgery; Alan Bohling has a new hip; Tom Harrelson needs your thoughts; and Tom Miller's wife Michele needs them as well.
Jim Gordon (Past President of the Redmond Rotary Club) introduced Green Lake power walker, Spokane native, Seattle U alumni, 25-year member of Seattle 4, opera buff, amateur economist, and public speaker Michael Parks, who has honed his observations of the economic conditions of the Pacific Northwest as business writer for the Seattle Times and Marple's News Letter.
Jim Gordon makes the introduction.
Michael opened with the observation made by Winston Churchill that he will require three or four days to prepare a 15-minute speech, but if you want two hours, he is ready now! With 20 minutes to deliver a message, Michael provided the "take-away" that in the world of economics we now have a "new normal." The new normal is an economy based upon fear-based savings versus the old normal of debt-led consumer spending. Under the old normal, the markets were free, government was light, and it allowed the bankers to lead us into the recession we are now experiencing. Low taxes and high growth rates will be replaced with slower growth and higher taxes. There is now a lack of trust in the banking community which leads to tighter credit availability.
The recession has accelerated a festering problem forward by a decade, and that is our commitment to public employee health and retirement programs. Wisconsin is gathering headlines, as state workers protest proposed cutbacks and limitations on collective bargaining. Washington is also facing a gap of five billion dollars in the next budget cycle. The City of Seattle has run out of operation funds. It won't be pretty.
Things will be better in 2011 but that is not saying much, since 2010 was a mess, with employment in construction down 33% and manufacturing down 12%. Aerospace is strong, with Boeing showing the Puget Sound area some love with increasing employment and a pledge to hold the 787 engineering team together for the next generation of aircraft. Our exports of community products, such as wheat, are strong, due to a solid infrastructure.
President Chuck Kimbrough thanks Michael Parks for his presentation.
Over all, Michael tends towards optimism with the New Normal. We see the stock market rising, profits improving without workers, and strong balance sheets. We also see high unemployment in the 9% range, and unsettled Washington, DC, policies. Growth at a rate of 10% per year for the next 20 years in the middle classes of China and India will also provide opportunities in our area.
Michael's 20 minutes expired, and President Chuck presented him with a card indicating that 750 pounds of fresh produce was donated to local food banks by Rotary First Harvest for his talk.