Crunching Consumer Credit

Tuesday Shaun Hayes, who is stepping down as president of Missouri Operations for National City Bank, spoke at an RCGA breakfast. I've known Shaun a bunch of years and he was, as usual, very funny in a self-deprecating way and very insightful. He was also very concerned about the continuing effects of a consumer-based economy.

Shaun grew up in Thayer Missouri, a town of about 2,000 people south of Rolla on Route 63. He told the crowd that he comes from a family of entrepreneurs and attorneys. He started what became Allegiant bank with about $300,000 and several million dollars raised from 82 investors. The bank sold for half-a-billion dollars and assumption of its debt. Yesterday he talked candidly about what he did right and what he did wrong in that business.

He has always been an enthusiastic entrpreneur. It's what you would expect from a guy who earned $20,000 a year while in College running a fireworks stand for six weeks a year, then turned around and loaned the money (at interest) to his fraternity brothers.

But for someone who's made a lot of money he's also always shown deep respect for the people who work for him and those who have less than he has. He's worried about Americans spending more than they make. Shaun's the small town guy who recently told me that the television sets in his house come from unclaimed inventory in his sister's pawn shop in Nashville, which he buys from her for his family and friends (a story he didn't share with the audience Tuesday).

Shaun said that it is unconscionable that even the educated people in the room to whom he was speaking couldn't understand (and wouldn't read if they could) the pages of mumbo jumbo in their mortgage documents. He said that those who were practicing predatory tactics on the undereducated and poor should be prosecuted.

A Congressional staffer who was in the room somewhat antagonistically asked what it was that Shaun would require regulators to put in place. Shaun replied that the basic terms of every loan agreement should be spelled out in plain English on a single sheet of paper.

He said that the shareholders of Fannie Mae and Freddie Mac (not the bondholders) should lose all the value of their stock, and that those institutions should start over.

He stated that at some point in the not-too-distant future the consumer debt that this country has amassed is going to come home to roost when other countries that have fronted the money begin to call in their markers.

There's a great series in The Beacon website on "Facing the Mortgage Crisis" which deals with not only mortgage issues but with the overall consequences of consumerism versus saving.

The series mentions a blog which is worth taking a look at: "I've Paid for this Twice Already." "Paidtwice", is a 30-something married mom of two who writes that she has "a PhD in Genetics that sits in my closet and a 3rd degree blackbelt in taekwondo. What else could you want out of life? Maybe peace of mind. We owe lots of $$ and we’re getting out of debt a penny (or sometimes a dollar) at a time."

Her very-literate blog chronicles the things she is doing to reduce her family's debt, and the sense of empowerment that it provides.

Tom Suter Creates Beauty "Up on the Roof"

"When this old world starts getting me down
And people are just too much for me to face
I climb way up to the top of the stairs
And all my cares just drift right into space
On the roof, it's peaceful as can be
And there the world below can't bother me..."

From the song "Up on the Roof" by Gerry Coffin and Carole King

In early July a dedication ceremony was held in an unlikely location: the rooftop of a two-story storefront at the corner of Marconi and Bischoff in the Hill neighborhood of the city. Attending was St. Louis Mayor Francis Slay. The roof was blessed by Father Vincent Bommarito of St. Ambrose Church. Holding court on a corner of the roof was Hill "royalty", Rich LoRusso of LoRusso's Cucina restaurant, which catered the event.

So what brought Mayor Slay, Father Bommarito, and Rich LoRusso up on the roof? Sustainability, technology, and heck of a view all came into play. Tom Suter of Shield Systems, Inc. has transformed the building's roof into a garden with a sculpture, flowers, and herbs.

Suter has been an architectural representative in the St. Louis area for 30 years, specializing in moisture protection. His product lines include below-grade waterproofing, sealers for masonry and concrete, waterproofing systems for plaza decks and garden roofs, traffic membrane systems for concrete exposed to vehicular or pedestrian traffic and a full range of exterior and interior expansion joints.

About nine years ago Suter bought a boarded-up tavern in the Hill neighborhood. Doing much of the work himself, he has restored the building into offices for his own company, a salon, a caterer, and two apartments on the second floor. The rooftop garden was created as both a demonstration center for the green roof system that Suter reps, and as a tenant amenity.

The lightweight assembly allows the 2" X 12" roof timbers to carry five inches of lightweight growing medium. The first task in installing the green roof system was to remove the existing built-up roof and add decking to receive hot, rubberized, fluid-applied waterproofing. Ninety mils of hot rubber membrane was reinforced with scrim cloth. A second coat of hot rubber at 125 mils was then applied and a protection course was placed in the curing rubber.

To increase energy efficiency two inches of Dow Styrofoam was placed over the entire deck area. On the non-garden area pedestals were then used to level the deck area. In the pathway areas, precise pavers were placed directly on the pedestals in a similar manner to that used for raised computer flooring.

On the garden sections of the roof a heavy polyethylene root block material was installed, followed by the Dow Styrofoam covered by a reinforced scrim to help with loading.
An eggcrate-shaped drainage material with cups that collect and store irrigation and rain water was then placed on top of the scrim and covered with four inches of engineered soil, a lightweight material filled with organics.

"From an educational viewpoint I wanted a living a garden and an exhibit to be able to show architects and owners greenscapes roof systems," Tom Suter said. "And I wanted my tenants to be able to enjoy the space."

He said that the both the commercial and residential tenants appreciate the views and quiet afforded by the garden. The herbs grown on the roof are used in preparing food for the catering business.

A plaque on the roof dedicates the garden to Tom Suter's mother, Theresa Suter, who died a short time before the dedication ceremony.

By the Rockets' Red Glare

"I wanted to see what was worthwhile for men to do under heaven during the few days of their lives.

"I undertook great projects: I built houses for myself and planted vineyards. I made gardens and parks and planted all kinds of fruit trees in them...

" I denied myself nothing my eyes desired; I refused my heart no pleasure. My heart took delight in all my work, and this was the reward for all my labor.

"Yet when I surveyed all that my hands had done and what I had toiled to achieve, everything was meaningless, a chasing after the wind; nothing was gained under the sun."

Ecclesiastes 2:3-11

Yesterday's Fourth of July extravaganza was a time for stepping back. We attended the Webster Groves Community Days Fourth of July Parade, carnival, and fireworks.

It's been a wild ride for the past decade. The Fourth of July yesterday served to focus that entire journey for me. Ten years ago the we watched the Fourth of July Parade from the back parking lot of my old office building. Eight years ago I was riding in the parade as "citizen of the year." I walked to the end of my block for the parade. Two years ago our house was "on the parade route" and we'd have 50-100 people in our yard.

This year, Rachel and I went down to watch the parade. I ran into people I've known in various capacities over the last 30 years. Rachel and I hung out with Dave and Tanya, some of my dearest friends. They are among the close circle of folks who understand that for years I felt like I was carrying office buildings, and staff, and houses on my back, but didn't know how to get out.

Yesterday felt good. Rachel and I visited with folks during the parade, then walked to our car, drove home, and ate grilled cheese sandwiches. It was fun. Yesterday evening we ate rib tips at the Lions' barbecue, then met with friends with kids to do the carnival rides and catch the fireworks. It felt laid back and wonderful.

I used to dread the preparations for the Fourth when we lived on the parade route. I enjoyed smoking turkeys with David the night before and it was kind of cool being the host. But mostly it was lot of work and a big production. It was always a huge letdown when people left and there were chairs and tables to be hauled, flys to be taken down and folded, all in sweltering humidity.

Getting stripped of businesses, buildings, homes, tons of extraneous stuff, and all the baggage of "being that guy," allowed me to be in the moment yesterday, to be grateful to God for friends, family, and country.

No Rollin' Along the River

Yesterday I had was going to try to ride my bike up the Riverfront Trail. I figured that the Mississippi had gone down enough. Well, no.

I reached the foot of Washington Avenue near the Arch and everything was under feet of water. I cut through Laclede's Landing and behind the Lumiere Casino to the entrance of the trail, which was dry. Riding along the trail was really strange. The Mississippi was just a few feet away and the flow was really boiling.

About a quarter-mile down the trail was a spot where the trail was covered by water. I made it through that. Another quarter-mile and there was what appeared to be a similar spot. I went it and was immediately up to my pedals in water.

I turned around and headed up to North Broadway. I got to ride, actually at a good clip because it's really flat, through a part of old St. Louis that few people see, and I wouldn't much recommend to tourists. You could make out the old manufacturing businesses, most prominently the former Mallinckrodt facility that was bought by Tyco and spun off to find new life in the growing medical care field last year as Covidien.
Across the street from the plant is the old Bremen bank and a diner called Chili Mac's. There is wholesale commercial plant nursery, with everything laid out on asphalt, and a couple of bag companys. Further South is a closed sign company with an amazing mural on the wall.

The whole levee situation is concerning, but one that is being addressed... finally. Last August FEMA asked the Corps of Engineers if the Illinois and Missouri levees would fail in a 100-year-flood (which, since Global Warning have been happening about ever 15 years). The Corps said yes, indeed we could be up to our eyeballs in the Big Muddy.

This prompted some hand-wringing in Illinois, which feared that it would lose developers who couldn't get flood insurance. But it also prompted three counties in Illinois and the City of St. Louis to cut loose of dollars to fix the situation. In June, a levee conference with Corps of Engineers and local officials from Illinois to California was held here. Among the topics of discussion was what progress has been made here.

“Until August last year, we didn’t know a whole lot about levees or think about them much,”Les Sterman, executive director of the East-West Gateway Council of Governments said. “We had a rude awakening when we were told our levee systems are inadequate, and that the area would be subject to increased flood risk.”

Bye Baby...

Yesterday Adam, our 20-year-old who is in the Marines, arrived from South Carolina. At dinner Penny took a phone call, then returned to the table and turned to Adam with a very serious look on her face. She told him that the vet had called her back and that the two of them had agreed that Baby, our 18-year-old Australian Shepherd/Cocker Spaniel mix, needed to be put down.

Adam was taken aback for a second by the abruptness, but agreed that it was for the best. Baby was Adam's (and essentially our four year old Rachel's) dog. So Baby had been around Adam for almost his entire life.

Baby has always been a quirky dog. He is (was) a beautiful mixture of Australian and Cocker, black and white, and very bossy. He would "talk" to people who came into our house, which could be off-putting because it sounded somewhat like growling. He hated to have his feet touched and didn't trust adult males, which was probably because of the abuse he suffered when he was a puppy. We had to get heavy water and food dishes to stop him from tossing them in the air to get us to fill them when they were empty.

Penny and Adam went to pick up a present for Adam's lifelong friend Luke's dog Sophie 16 years ago, and came home with a rescue dog. Luke was at the house last night and there were plenty of stories.

Baby was a smelly, grumpy old man the past few years (126 human years, to use the seven-year formula). He needed dental work and was arthritic. Penny was hoping that she would come downstairs some morning and find him gone, but it didn't happen.

I, because I was up early and on-duty when I came home from work, walked him with Rachel and let him out a lot. Rachel really took ownership of Baby. I mentally, and sometimes verbally, groused a lot about him. But his death is going to leave a big hole for such a little dog.

My "Favorite" St. Louis Food

My colleague Amy asked me, "As a 'foodie,' what do you think the best place to eat in St. Louis is?"

It's a cop-out I told her, but it depends, 'cause I'm an eclectic foodie

Roberto works his dining room

Tom's Top Ten (not really, except #10 really IS my favorite)

1.) Breakfast, the Boardwalk in Webster; Courtesy Diner or White Castle on Broadway when the blues bars are closing

2.) Mexican, Arcelia's in Lafayette; Lily's on Kingshighway; various taquerias on Cherokee and other spots

3.) Eclectic American, Iron Barley on Virginia; Big Sky, Webster; whatever Mike Holmes is doing lately

4.) Sushi, Nobu on Olive (U City?); Ichiban on Olive, Creve Coeur

5.) Chinese, Royal Chinese Barbecue on Olive in U City; Hunan Wok on Brentwood

6.) Pub Food, Square One, Lafayette Square; St. Louis Brewery Taproom, Downtown

7.) Fish, Old Warson Country Club (OK, I'm cheating because I published a club magazine for 18 years, but Aiden Murphy's a master chef and nobody does it better), Blue Water Grill, Kirkwood

9.) Italian, Trattoria Marcella* (see below)

10.) And my FAVORITE place to eat is in South County on Lindbergh. Roberto's Trattoria has incredible food, welcoming service, and the bonus that my son-in-law does the pastas and sauces. Great Story:Roberto is the son of a fisherman, born and raised in Italy and had a hole-in-the-wall near Gravois and Makenzie. He grew it and moved down to a bigger location at Lindbergh and Baptist Church Road. The only thing that Roberto loves more than food is women. He has ex-wives and kids spread from Italy to Affton. So he lost the restaurant in a divorce, worked for other folks, then his ORIGINAL hole-in-the-wall opened up and he started over. Three years later he is in a different location in the SAME shopping center at Baptist Church and Lindbergh. I have NEVER had a meal that was even slightly off. If you go there, ask for Sterling as your waiter if you make reservations. Sterling, who taught my son-in-law how to fly fish, is a former sous chef and his table service is amazing, but never cloying.

"So," I said to her, "sorry you asked?"