Speaking of Rides and Roller-Coasters...
By Marilynn Bowler
                 
The fabulous Pat Riley addressed our club today and was introduced by the equally fabulous Natalie English who shared that Pat had told her to simply say that he and she "had worked together and had fun doing it." Smiling at that, Natalie listed some of Pat's many accomplishments, including a roster of the more meaningful volunteer positions and programs he has worked on within our community in the fields of education and the arts, and serving on the boards of Charlotte Center City Partners, the Chamber of Commerce, MeckEd, ASC, and Charlotte Advocates of Education, to name a few.
 
It takes a guy with great class to hold the rapt attention of our Rotary Club membership but our speaker today has what it takes. Pat Riley brought his signature grin, his upbeat persona, his satchel full of up-to-date statistics, and his unparalleled presentation style to drive home his message: "Recovery rides on the back of job creation and housing!" Pat incorporated that theme into his remarks relating to both his stint as Chamber of Commerce Chair (which he recently passed to Tim Belk) and his "day job" as President and COO of Allen Tate Company, one of the nation's leading real estate giants.
 
Taking a page from his remarks to our club on July 31, 2007 when he forecasted, "Current indicators show most markets are experiencing a downturn in the housing market. What goes up must come down and many areas are in the middle of an adjustment period … the simple economics of supply and demand affect the price of homes," Pat today gave us the good news and the bad news as it pertains to Charlotte's economy and that of the mega-region of Raleigh, Greensboro and Charlotte.
 
But, he said, "First the news about the Charlotte Chamber because business runs this community and our future is bright … and it is business that will take us to the dance in the future." Enlarging on that theme, Pat compared us favorably to other areas of the country suffering economic challenges in that: we are more diverse; we are more geographically represented; we are funding a work plan that is considered #1 in America; we are focused on job creation in Mecklenburg County; we have staked out transportation; and we are addressing urban Chambers via the Committee of 21, concentrating on keeping new money at home, and using a mega-region concept relating to high speed rail, justice/crime; and roads. Pat left his mark during his tenure as Chamber Chair and we are fortunate to have had his leadership during this difficult and somewhat economically-troubling past year.
 
Turning his attention next to the roller-coaster ride of the housing market, Pat promised to "take us down then bring us up" before closing his remarks. Nationally, through November 1st, there have been 1.957 million job losses with 533,000 in the month of November, alone. Those incredible numbers of losses have been in manufacturing, professional businesses, financial activities, education and healthcare, trade and transportation, and government opportunities. As scary as it is in our city, Charlotte was one of the last ones to experience economic stress and will, we hope, be one of the first ones out of the economic doldrums due to our focus on job creation.
 
Citing a conversation as recently as this morning with a friend in the housing industry in Madison, Wisconsin, Pat said that Madison is now in a normalized real estate market after two-and-a-half years of downturn. We have that to which to look forward if not in '09 then in '10.
 
What steps will lead us out of the housing slump? For one thing, building consumer confidence. Fighting the bad news headlines of the past three weeks or so, the retailers reports of crises-upon-crises, global layoffs, unaffordable college tuitions, and a continued, long list of other negatives - most specifically, mortgage and credit crises - consumers must be willing to take a leap to move forward. There's a lot of work to do! However, said Pat, here's the good news. Alan Greenspan spoke on the subject of a failing economy in '07 and he said this: "A market economy will revitalize itself from within by scrapping old, failing businesses and then re-allocating resources to newer, more productive ones." And in North Carolina we have a good head start. This is the best state for business development and growth for entrepreneurs, the cost of doing business, job creation, population growth, infrastructure systems, environment and topography, culture and history, among other factors.
 
How best to proceed to get the housing market moving? Interest rates are not the issue; housing values are the issue. Consider depreciation versus appreciation. Consumers would be wise to accept a lower sale price for their existing home in anticipation of purchasing a larger, more valuable piece of property at an also substantially-reduced cost. Short translation: Our real estate market needs sellers and it needs buyers who will SELL LOW to BUY LOW. Housing is now considered an investment whereas in the past it was simply shelter.
 
To summarize: the best time to buy a house is NOW. For more specific facts and figures as quoted by Pat Riley, please contact our speaker at his office.
      
  
Head Table: Lee Morris, Mary Rinehart, John Snyder, Dale Gillmore, Ty Branam;
Invocation: Catherine Browning;
Visitors & Guests: Janice Stevens, Health & Happiness: Trent Merchant; Song: Gregg Walker; Piano: Thomas Moore; Photos: Bert Voswinkel

• Sincere sympathy and prayers are extended to David Anderson and family. David's mother, Mary Buford Davenport, passed away December 21. Also remember Jon Hannan and family. Jon's mother, Dorothy Bennett Hannan, passed away January 4.
         
• Health updates: Al Allison had surgery the end of December and is back to full speed ahead; Dot Waters has been hospitalized since November and the good news is she has been released to Sharon Towers; Tyson Bennett fell and broke his shoulder - no other update on his condition; Trent Merchant's four year old daughter is in the hospital with hopes of being released this week;
       
• Greg Jones has upgraded his red badge to a seasoned member; Tom Norwood introduced Shepherd Daniel, Ambassadorial Scholar, who is heading to Santiago, Chile to begin a two year study program; President Mac threw his hat in the ring to be considered for District Governor 2011-2012.
       
• Pender McElroy introduced the newest Rotarian, Christian Cherry, on December 30th. Christian is an attorney with Grier, Furr & Crisp, P.A. and can be reached at ccherry@grierlaw.com. Christian is a past member of West Stanley Rotary. Welcome!
  
• Myers Park Interact Club is hoping to raise $25,000 to establish a computer lab in Puerto Rico. The lab will be named in memory of former classmate, Greer York. Donations are payable to Greer York Scholarship Fund and sent to the Rotary office for handling.
 
• Tim Newman is looking for in-kind donations to assist this year's Habitat for Humanity build. Items needed: masonry, concrete, drywall, plumbing, heat & AC, electrical materials and fixtures, vinyl floor covering, insulation, finish grading, seeding and shrubbery. Contact the Rotary office for more specific information.
  
• Matt Joyner and his new law firm, Bishop, Dulaney and Joyner, are featured in Greater Charlotte Biz magazine; updated contact information for Todd Owens: Dozier, Miller, Pollard & Murphy LLP; 704-372-6373; towens@dmpm.com.

• Kurt Waldthausen was first in line to see "Valkyrie," the new Tom Cruise thriller based on the 1944 plot to kill Adolph Hitler. Kurt's grandfather, Walter Cramer, had a personal connection to the plot and would hang for his part months after it failed. Kurt's comment after seeing the movie: it was historically correct; Tom Cruise playing Col. Claus von Stauffenberg was questionable.