Month: September 2018 (Page 1 of 4)

Close, Bill

Bill Close was born in Washington, D.C. in 1931 and grew up in Summit, NJ where he graduated from Summit High School in 1949.   He was captain of the soccer team and ran the high hurdles for the track team. At Princeton, he was Batallion Commander of the NROTC unit his senior year and went on to serve three years in the Navy from 1953-1956 as a deck officer in the USS Warrington, a destroyer based in Newport, RI.  After his naval service he went to Harvard for an MBA and then on to Wall Street with first, Smith Barney and then, in 1962, with E.F. Hutton as a floor partner on the New York Stock Exchange. There he traded for Hutton until 1988 when he changed to a sole proprietorship. Retiring from the Exchange in 1994 he has continued to live in Rowayton and Norwalk up to the present.

Sailing and skiing were the main activities for many years with Bermuda Races and Ski Club trips all a part of the mix along with a fair amount of world travel. He has three sons and a daughter as well as a stepson and stepdaughter. He and his wife, Stephanie have been married for 27 years. They have 12 grandchildren.

He is a member of the New York Yacht Club, the Cruising Club of America and the Sachem’s Head Yacht Club, as well the as the United Church of Rowayton and the Darien Men’s Association.

Life Is Full!!!!!!

Cavanagh, Lawrence

Lawrence Dunbar Cavanagh Jr. was born in Norwalk in 1942. He graduated from Portsmouth Abbey School and then attended the Georgetown School of Foreign Service (when Bill Clinton was there). After serving in the merchant marine and the U.S. Navy, Lawrence earned a BS and MBA from NYU’s Stern School of Business. From 1973 to 1976, he was with the New York Fed (in economic research). After that, he was a writer and editor at Business International (in a job later held by Barack Obama). Lawrence’s next employment was at European American Bank, where he created and ran their currency forecasting service. Later, he worked for the Chicago Board Options Exchange in a truly transformative position as liaison between the Exchange and major trading desks. From 1991 until retirement in 2011, Lawrence worked for Value Line Inc., where he re-modeled, redesigned, and ran Value Line Options, an online subscription service (available at the Darien Library). He met his wife, Eleanor Reimer, in 1972, when she was working on her PhD in Medieval History. They live in Rowayton. Lawrence is a member of the Saugatuck Shore Club, a board member of the Norwalk Symphony, and president of a 97-yer-old charity foundation.

Sponsored by Jim Frayer.

Bill Nightingale

William Joslyn Nightingale, 89, known as Bill, passed away after a brave battle with cancer on September 20, 2018. He will be remembered for his positive attitude and unshakeable integrity.

Bill was born on September 16, 1929 in Minneapolis, MN to Willam Isaac Nightingale and Gladys Joslyn Nightingale. He married Carla Carroll of Wayzata, MN in 1957 and in 1966 moved his family to Darien, CT, where he lived for almost 30 years. In 1993, Bill married Deborah Watson and lived in Rowayton, CT before recently relocating to New Canaan.

Bill graduated from Bowdoin College in 1951 and from the Harvard Business School in 1953. He served as a Lieutenant in the U.S. Navy Supply Corps in Port Lyautey, French Morocco from 1954 – 1956.

Bill began his career at General Mills in Minneapolis. After he moved to the New York area, he worked in senior management positions at Booz, Allen and Hamilton, Hanes Corporation, and The Bali Company of New York, NY, where he was President and CEO.

In 1975 he founded Nightingale and Associates LLC, one of the first crisis management and turn-around consulting firms in the U.S. After a long successful run at the helm, he retired in 1995.

After retirement, Bill served on many corporate and charitable boards. He was particularly proud of his service as president of Person to Person.

Bill was a long-standing member of St. Luke’s Episcopal Church in Darien, where he was on the vestry and was senior warden. He was an active member of The Harvard Club, Wee Burn Country Club, and Noroton Yacht Club.

Throughout his life, Bill had many friends. A generous optimist, his glass was always half full. He loved his home in Bridgewater, VT, the Maine coast, skiing and traveling. He was a role model to many and imparted advice with wisdom and humor.

Bill is survived by his wife Deborah of New Canaan; his son Paul Nightingale, and wife, Kate, of Marblehead, MA; daughter Sara Nightingale of Sag Harbor, NY; son William J. Nightingale Jr., and wife, Julie, of Rowayton, CT; and daughter Margot Nightingale, and husband, Henry Personnaz, of Paris, France. He is also survived by his nine grandchildren, his brother Donald Nightingale, and wife, Gerda, of North Oaks, MN, and step-children Ian and Sarah Watson. He was pre-deceased by sister Nancy Jones.

A memorial service celebrating Bill’s life will be held at 11:00 am Thursday, October 4, at St. Luke’s Church, Post Road, Darien, CT.

In lieu of flowers, please send donations in Bill’s memory to Bowdoin College or Person to Person in Darien, CT.

Book Club: Bad Blood : Secrets and Lies in a Silicon Valley Startup John Carreyrou, Jan 9, 2019

The full inside story of the breathtaking rise and shocking collapse of Theranos–the Enron of Silicon Valley–by the prize-winning journalist who first broke the story and pursued it to the end in the face of pressure and threats from the CEO and her lawyers. In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose startup “unicorn” promised to revolutionize the medical industry with a machine that would make blood tests significantly faster and easier. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in an early fundraising round that valued the company at $9 billion, putting Holmes’s worth at an estimated $4.7 billion. There was just one problem: the technology didn’t work. For years, Holmes had been misleading investors, FDA officials, and her own employees. When Carreyrou, working at the Wall Street Journal, got a tip from a former Theranos employee and started asking questions, both Carreyrou and the Journal were threatened with lawsuits. Undaunted, the newspaper ran the first of dozens of Theranos articles in late 2015. By early 2017, the company’s value was zero and Holmes faced potential legal action from the government and her investors. Here is the riveting story of the biggest corporate fraud since Enron, a disturbing cautionary tale set amid the bold promises and gold-rush frenzy of Silicon Valley

Book Club:The Spy and the Traitor : the Greatest Espionage Story of the Cold War by Ben Macintyre, Dec 12, 2018

Oleg Gordievsky was a spy like no other. The product of a KGB family and the best Soviet institutions, the savvy Russian eventually saw the lies and terrors of the regime for what they were, a realization that turned him irretrievably toward the West. His career eventually brought him to the highest post in the KGB’s London station-but throughout that time he was secretly working for MI6, the British intelligence service”-

Thompson, Doug

Born 1940 in Fenton MI.  Awarded BS in Chemical Engineering from Michigan State University 1962.  Started career in General Electric’s Manufacturing Management Training Program 1965.  Went on to International Sales &  Marketing at Shipley Co in Newton, MA.

Elected to American Society of Electroplated Plastics trade association President & Hall of Fame. Published multiple technical articles including: Society Automotive Engineers, Interference Control, Products Finishing, Society of Plastics Engineering.

Now is in Real Estate Rental Properties Investment/Management
He’s a Duplicate Bridge certified teacher & director. Rank: Gold Life Master
Resides in Rowayton CT with Bridge Partner & Life Partner Karen Barrett
Son Aaron resides in Maynard, MA with Grand Son Bodie who saved the life on man drowning on Walden Pond July 2018.

Sweeney, Ed

Edwin J. Sweeney was born in Weymouth, Mass., in 1949 and grew up in Hingham, Mass. He graduated from Archbishop Williams High School in Braintree, Mass., in 1967 and was active on the hockey team for four years. He graduated from St. Anselms College in Manchester, N.H., with a B.A. and the University of Notre Dame with a B.S. in civil engineering in 1972. At Notre Dame, he participated in varsity sailing. He received an M.S. in civil engineering in 1974 from the University of Massachusetts at Amherst. He is a registered professional engineer in Connecticut and California. His working career started as a consulting engineer for Carollo Engineers in Walnut Creek, Calif., in 1974. He joined Dorr Oliver in 1977 as a sales engineer for industrial filtration products and in 1989 became vice president of sales for water and wastewater filtration systems for Dorr Oliver Environmental Systems. In 1989, he joined Krauss Maffei Corp (Munich & Rowayton) as sales manager of industrial filtration and in 2007 was with Flottweg Separation Technology (Munich & Rowayton) as industry manager of filtration systems for petro chemical and mineral processing. Ed and his wife Vivian of 39 years live in New Canaan and have two sons, one living in Darien and the other in London. Ed is a past commodore of Noroton Yacht Club, past president of the Darien Winter Club, member of Silvermine Golf Club, New Canaan Men’s Club and former member of the Darien Environmental Protection Commission. For hobbies, Ed is an active competitive sailor, likes golfing and is an avid Red Sox, Bruins, Patriots and Notre Dame fan.

Current Affairs: Single Payer Healthcare, Nov 15, 2018

Discussion leader: Charlie Goodyear

Summary :

SINGLE PAYER HEALTHCARE SYSTEMS
USA Healthcare System
-17% of GDP (was 7% in 1971) vs. 9% Canada,10% UK, 10% Germany
-Coverage :
+50% Employer (155 million people, cost $20,000/family, employee pays
$5000)
+14% Medicare (+/- 55 million people)
+12% Medicaid, Veterans, Native Americans (+/- 50 million people)
+ 7% ACA purchased (+/- 20 million people)
+ 8% Emergency Room, Other
+ 9% Uninsured (+/- 30 million people)- 80% US citizens
-Drug costs : $1000/per person/year vs. OECD $500
-Estimated 100-130 million people have “pre-exsisting conditions”
-Life expectancy below OECD countries, Infant mortality higher
-Reasons for higher costs vs OECD countries :
+ Technology and drugs ( eg more MRIs per capita, no drug price controls)
+ Obesity (35% vs 19% OECD) and chronic illnesses (32% of Medicare costs
cover the last two years of life)
+ Much higher administrative costs (4% of GDP), double the staffing vs Canada
-Healthcare costs a major factor in personal bankruptsy( !0 million have bills they can’t
pay )
Canada Healthcare System
-Single payer system covering 100% of the population -no co-pays or deductables
-Doctors and hospitals privately owned and managed within system rules
-Managed by Provincial governments who pay all doctor and hospital charges
-System funded 50/50 with Federal government
-Provinces set prices and proceedures that comply with Federal requirements
-No private insurance allowed except for drugs and dental not covered by System
-Heavy involvement in drug pricing and approval, cost benefit analysis
-Essentially no US type media drug advertising
-Doctors earn about 2/3 of what US doctors earn/year
-Lower availability of medical devices (eg. 75% fewer MRIs per capita than US)
-Open heart and transplant surgery restricted
– Major problems: waiting times for referral to specialists (+/- 16 weeks ), doctor
choice limited, long delays for elective surgery
United Kingdom Healthcare System
-Single payer system covering 100% of the population-no co-pays or deductables
-Doctors are government employees and hospitals are government owned
-Managed by major regional authorities (ie Britain, Wales,Scotland, etc)
-Drug prices controlled by the government, strict cost/benefit analysis. No US
type media drug advertising
-Drug prescriptions cost about $12/ each, free for children.

– No dental coverage for adults
– Doctors earn about 2/3 of what US doctors earn
– Individuals may purchase insurance coverage with doctors in private practice
– Major problems: Long wait times (+/- 10 weeks for general surgery), limited availabiliy
of new(expensive) or experimental treatments, cost/benefit analysis, lack of mental
health services, very long delays for elective surgery
-Per capita costs $4K/year vs US $10K/year
-Many say “Underfunded but not broken “
Germany Healthcare System ( An alternative to “single payer” ??)
-An insurance based system with non profit and for profit insurers
-Covers 90% of population- required participation for all but highest earners
-Funded by 50/50 contribution by employers and employees -15% of earnings
up to about $70K/year (2014 data)
-Private doctors and hospitals but highly regulated
-No deductables and low co-pays -children are free
-Managed by regional authorities via “sickness funds” that are used to control
total costs
– Drug prices are controlled, cost/benefit analysis, no US type public advertising
– Doctors earn about 2/3 of US doctors/year
– Per capita costs less than 1/2 of US
– Surveys indicate significantly higher public satisfaction with the system vs US,
Canada or UK
( The relationship between the insurance companies, doctors, hospitals ,employers,
employees individuals and the regional government bodies is unclear and needs
further analysis and understanding)

Comparisons of Health Care Systems in the United States, Germany and Canada

https://dpeaflcio.org/programs-publications/issue-fact-sheets/the-u-s-health-care-system-an-international-perspective/

https://theconversation.com/why-market-competition-has-not-brought-down-health-care-costs-78971

https://theconversation.com/medicare-for-all-could-be-cheaper-than-you-think-81883

Single Payer Healthcare

Universal Coverage

The article below on drug cost shows how complicated healthcare is to understand, much less manage.  Factors such as age of population, availability of new drugs, the number of insured, etc. all interact.

Still, negotiation is an important factor.  The article states that many western countries (all government run healthcare) will only pay for improved outcomes.
But it’s not purely rational.  If some exotic drug will save your life, it’s worth a lot to you but maybe not so much to society if it starves other healthcare services.  The payers are subject to political pressure from interest groups.  Not simple.

The False Promise of ‘Medicare for All’

Cost is only part of the problem. Single-payer systems create long waits and delays on new drugs.

 

 

 

Barksdale, Ed W. Jr.

Little Rock Ed Barksdale was born in Little Rock, Ark., in 1945 and grew up in Atlanta, Ga. He graduated from W.F. Dykes High School in 1963, where he was active in student government. Ed graduated from Duke University in 1966 with a B.A. in economics and from the Wharton School at the University of Pennsylvania in 1968 with an M.B.A. in finance. Upon graduation, Ed joined General Dynamics in New York as a pension officer; in 1969, he joined Mitchum, Jones and Templeton, which later became Callan Associates, in San Francisco, as performance measurement and investment manager, tracking staff and systems. He returned to New York as a pension and investment consultant to institutional investors with Dreher Rogers. In 1976, Ed joined Rogers, Casey and Barksdale in Stamford, working with institutional clients and managing technical staff and systems. His division was purchased by Northern Trust of Chicago in 1995, and Ed became president and CEO of Northern Trust Global Advisors and Northern Trust of Connecticut. In 2000, Ed was co-founder of Federal Street Partners in Stamford, where he created pooled vehicles focused on alternatives, primarily hedge funds. In 2018, the firm downsized, focusing on partner capital and advice to a few long-time clients. Ed and his wife Joan have three children (living in Tokyo; Freeport, Maine; and Missoula, Mo.). He belongs to the Tokeneke Club, Wee Burn Country Club, Noroton Yacht Club, Campfire Club and Lost Tree Club. He enjoys boating in the summer and skiing in the winter. Sponsored by Gene Markowski.

Loomis, Donald E. Jr.

Don Loomis was born in Miami, Fla., in 1946. He grew up at the Wentworth Club in Surrey, United Kingdom. He graduated from Fairfield Prep in 1964, where he was active on the cross-country team. He graduated from Georgetown University School of Foreign Service in 1968, where he rowed lightweight crew. He served in the U.S. Navy from 1968 to 1974 aboard a destroyer escort based in Naples, Italy (where he met his wife). In 1971, he became sports editor of the English language daily paper The Rome Daily American. Upon returning to the States, he worked at Fisher International, located in Norwalk, Conn., in consulting and market research on the paper industry. He assisted in constructing the company’s worldwide database covering 3,560 mills on all five continents. Ron and his wife Daniela live in Darien and have one daughter (Navy JAG officer stationed in Washington, D.C.) and three grandchildren. He belongs to the Norwalk River Rowing Association and St. John’s Choir. For leisure, he enjoys rowing, skiing, travel and languages. Sponsored by Dieter Bruhn.

Gilliam, George

George Gilliam was born on August 14, 1944 in Brooklyn, NY, though his time as a Brooklynite was short-lived: his family moved to New Hyde Park, NY, when his father returned from WWII in 1946.

 

George graduated from the University of Dayton (Go Flyers!) with a bachelor’s degree in business in 1966, and began his sales career with U.S. Plywood in Albany, NY.  In the mid 80’s, George established his own sales agency, representing numerous building material manufacturers in Pennsylvania, Delaware, New Jersey, New York, and Connecticut. He retired from a long and satisfying career in December 2014.

George met Diane Tapley, the love of his life, while working at the New York World’s Fair during the summer of 1964. She was – and still is – the prettiest woman he’d ever seen, and he was somehow able to sweep her off her feet and convince her to marry him.

Fifty-two years later, George and Diane have two children: Drew, who works for Ring’s End in Darien, and Katy, who is a New York Times bestselling author. Katy is also the mother of Henry and Callie, George’s two terrific grandchildren, whom Katy and her husband are raising in nearby Ridgefield.

After spending 35 years in Darien, George moved to Norwalk, where he enjoys spending time with his grandchildren, in addition to playing golf, bridge, bowling and taking long walks with Diane.

George became a proud member of the DMA in 2014, and is currently the chairman of DMA Cares, which makes the weekly announcements regarding the well-being of our members.

 

 

Wander Roosevelt Island, Astoria Queens, October 2, 2018

Tuesday, October 2, is the first Wandering of the 2018-2019 program year.

The Wanderers will journey to Roosevelt Island in the East River and to Astoria, Queens.

We will take the 8:35am train out of Darien and the 8:38am out of Noroton Heights.  The group will gather in Grand Central Station at the information booth on the upper level.

 

We will take the subway to the 59th Street station for the Roosevelt Island tram, cross to the Island and walk through Four Freedoms Park and the FDR Memorial sculpture display.

 

 

 

Then, via the East River Ferry, we’ll go to Astoria, Queens.  We will walk by many of the local landmarks associated with the earliest days of the motion picture industry in the United States, through Socrates Sculpture Park and several other sights, and finally have lunch.

We will return by subway in the afternoon to Grand Central for the train ride home.

If it rains Tuesday, we will not go.  A new date will be announced at our regular weekly meeting the next day,

Contact: Joe Spain

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