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July 29 2023
Good morning,
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Monthly price dips in the coming months are anticipated, as the market goes through its typical seasonal pattern and rates remain elevated for most, if not the entire third quarter. As for the economy, consumers appear to be more resilient than predicted six months ago, and economists are lowering the odds of a recession for the U.S. That’s good news, except a solid economy could mean a delay in the Fed loosening its monetary policy, which could be translated as mortgage rates staying high for a little longer.
If you have any questions regarding our local
housing market, please reach out!
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DID YOU KNOW?
This week the largest US grid issued an Energy Emergency Alert level one, meaning it was concerned about being able to maintain adequate power reserves on July 27 as consumers and businesses turn up their air conditioners amid scorching heat. PJM ordered all power plants to be online and for consumers enrolled in demand-response programs to be ready to curtail their electricity usage to keep power supply stable. And it worked!(Bloomberg)
DID YOU KNOW?
The semiconductor shortage that affected everything from cars to games consoles during the height of the Covid-19 pandemic has turned into ..........a chip glut. That is how you (over) cure inflation: too much production. And no, you don't cure inflation by making things more expensive to buy as quickly as ramping up production responsibly.
DID YOU KNOW?
Meta is planning to build a $1.1 billion data center in Spain....and expects the facility to use about 176 million gallons of water a year to keep it cool. While these data centers are welcomed to neighborhoods around the world, the downside is if they have insufficient water supply to meet the cooling needs of data centers. Globally, data centers use over 300 million gallons of water per day and this could increase to 450 million gallons by 2030. (BLOOMBERG)
DID YOU KNOW?
BioShade’s biological shading technology provides shading, cooling, and air quality improvement via vertical hydroponics technologies that increase growth rate and save water compared to growing plants in soil. The shading system can provide significant areas of biological shade in a matter of months instead of years waiting for a tree to grow....
DID YOU KNOW?
New law in France requires any parking area for 80 or more cars to be covered with solar panels.....to generate electricity AND to shade the cars so they use less AC to cool down.
The Making of Barbie
- Ruth and her husband Elliot Handler formed Mattel Toys alongside their partner Harold Matson in 1947. The name "Mattel" is a combination of Elliot's first name and Harold's last name.
- In 1955, Ruth pushed a deal with Walt Disney's Mickey Mouse Club, where Mattel would be a main sponsor for the show. This marked the first national TV campaign for a toy manufacturer. With the deal costing $500,000, the Mattel ads were geared towards the children watching, not the parents, which revolutionized how the US toy industry markets toys.
- While Mattel first found success making toys "for boys," namely toy guns, Ruth saw a market for making toys for girls after she realized her daughter Barbara, whom Barbie is named after, had limited choices.
- Ruth found inspiration for Barbie in the form of Lilli, a German doll and character from a comic strip in the tabloid, Bild-Zeitung, a sex worker who went on adventures with wealthy men.
- When Ruth and Barbie's co-creator, Jack Ryan, originally pitched Barbie to the rest of Mattel, they rejected the idea. There was reportedly "a lot of pushback" from Mattel, but Ruth eventually convinced them to bring the new toy to the Toy Fair in NYC in 1959.
- Unfortunately, at the 1959 Toy Fair, Barbie reportedly "fell flat" with the mostly male executives and investors attending. Namely, they were confused by this overtly sexual doll.
- Ruth knew that having the doll look like a real woman, such as having boobs, was essential in order to connect the girls playing with the toy who wanted to pretend they were adults.
- When Barbie was eventually released, thanks to the persistence of Ruth who saw potential in the doll, Mattel sold 351,000 dolls at $3 per doll in 1959. Demand for the doll was so high that Mattel had to add factory capacity and warehouse space to keep up with demand.
- Alongside the actual doll, fashion became an important aspect of Barbie. Speaking about why Barbie's clothing was so important, Ruth said that the whole concept of Barbie was that her clothing would permit the child to pretend they were in a certain kind of activity.
- In 1972, Mattel reported a $29.9 million loss on sales of over $200 million. This caught the eye of Wall Street when conflicting reports of the company's earnings were released. Eventually, Ruth and a few others were indicted by a Federal Grand Jury for conspiracy, mail fraud, and making false financial statements to the SEC.
- Netflix's documentary series, The Toys That Made Us, claimed that during this time Ruth had trucks full of Hot Wheels toys driven out of the factory, then they would dump them, and go get more. The minute they left Mattel, they reportedly went on the books as "accounts receivable.”
- In 1975, Ruth and Elliot resigned from Mattel, a mere month before the committee of outside directors filed a report accusing the founders and senior management of issuing financial statements that were "deliberately false and misleading.”
- Ruth was diagnosed with breast cancer and had a mastectomy in 1970. After she left Mattel, she notably went on to create a first-of-its-kind breast prosthetic for women who undergo mastectomies.
- When Jill Barad became Mattel's CEO in 1997, the first of the company's two female CEOs, she invited Ruth back to Mattel for the first time since she departed the company 22 years prior.
- And finally, Ruth died at age 85 in 2002 from complications following colon surgery. At the time, she was survived by her husband Elliot, who later died at age 95 in 2011.
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First EVER Barbie Commercial
This is the first Barbie commercial that aired during The Mickey Mouse Club!
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Start Your Day With a Smile
This makes my heart happy, and seriously, WOW!
100-year-old and 102-year-old runners break world records.
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New Interesting Discoveries Around the World
A neighbor sent us this video….. the miracles of our world,
totally worth the watch!!!!!!
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322 Emerald Bay
$14,900,000
6 Bedrooms | 7 Bathrooms | 5,493 Sq.Ft.
A highly desirable and rare luxury 6 bedroom Emerald Bay residence has come to market. Flawless custom construction seamlessly incorporates a clean contemporary style with affluent coastal living.
This home was designed with ultimate privacy in mind and to enjoy the ocean and Catalina views. Nearly 5500 square feet of spacious living surround an exquisite outdoor courtyard complete with a spa, covered dining loggia, outdoor fireplace, grilling station and lush landscaping. Nearly every room welcomes ocean breezes and ample natural sunlight through over-scaled windows and doors. Several balconies wrap the front exterior of the home extending the living area.
The chef's kitchen boasts high-end appliances, a large island and a dumb waiter to transport food items from the garage level. The three-car garage includes a space for a golf cart that will easily whisk you down to Emerald Bay’s pristine white sand beach.
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There are currently 3 active homes for sale in Emerald Bay
ranging in price from $11,000,000 to $14,900,000. 1 home is in escrow.
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