Thursday, November 11, 2010

The Faults of Others

IT IS EASY TO SEE THE FAULTS OF OTHERS,
BUT DIFFICULT TO SEE ONE'S OWN FAULTS.
ONE SHOWS THE FAULTS OF OTHERS
LIKE CHAFF WINNOWED IN THE WIND.
BUT ONE CONCEALS ONE'S OWN FAULTS AS
A CUNNING GAMBLER CONCEALS HIS DICE.

~The Buddha

Of Note: In a landmark deal, the city government of Beijing is now the proud owner of a 104-year old unit of General Motors in Saginaw, Michigan. The Nexteer company, which manufactures steering equipment for GM, employs 8,300 people in twenty-two factories, six engineering centers and fourteen customer service centers around the globe. During World War, it built the M-1 carbines used by Marines in the Pacific. Some unionized employees and citizens of Saginaw ask whether the place needed to be sold to the Chinese in a $450 million cash deal. The answer might be our government's push to have China buy more in the United States because of the large trade deficit. After all, GM is controlled by the U.S. government, which approved the deal. Not surprisingly, increased purchases by the Chinese in America and Europe will be a central theme at the G-20 Summit, which opened in Seoul today. An inquiring mind might ask why would a Chinese city government such as Beijing want to buy a small concern in Michigan? The answer lies not so much in the physical infrastructure but in the 1,000 plus patents held by Nexteer. One Western banker put it this way: "This dramatically shortens the technology gap between China and the rest of the world." The new owners will continue to operate from Saginaw.

Today's Weather Report: More sun and blue skies, though the temperatures in the high 50's Fahrenheit have dropped by 10 degrees. A fire was needed today in the fireplace to take the morning chill out. The unseasonably warm weather portends mild temperatures for the coming hunting season. That is good. With mild temps and no snow, the beasties are harder to hunt and track. Deer are ubiquitous and pesty in the northwoods. However, our two new, large dogs have deterred the deer immediately around the house; so, the garden stayed intact for a change. Two years ago, the garden was decimated by two deer, a mother and baby. While they were fun to watch during the day, I was not amused most every morning to find long-nurtured plants eaten to the ground. (The day lily above was an exception.) The dogs took care of any local roaming deer....so now I can enjoy the them again, but a few will do. We probably don't have to worry about large numbers, though. In our neighborhood, a very large wolf pack is apparently taking its share.