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August 8, 2003     Cape Gazette
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August 8, 2003

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BUSINESS & CAPE GAZETTE, Friday, Aug. 8 -Aug. 14, 2003 - 33 REAL ESTATE Delaware blue crabs scarce at local seafood markets By Andrew Keegan The Mid-Atlantic region has en- joyed an abundance of blue crabs for decades. However, if the past few years are any indication, Delaware's blue crab population is rapidly dwindling. Once re- garded as the mainstay of the state's fishing industry, unpre- dictable weather and a greater de- mand on crabs in general have de- pleted Delaware's once-thriving population. Matytal is also ex- perien, iag a lecm harvest yeear. An , tl00e00hation,in e00.lmv00t in 2000, Georgia and Louisiana are all suppliers of blue crabs in Delaware. "Delaware and Maryland don't have any crabs:' said Jimmy Parks of Jimmy Lynn's Seafood in Lewes. "The price immediately goes up when you pull up in an- other state, because they know you don't have any." Lynn has been in the seafood business for 33 years and said it's not just blue crabs that are hard to find. "You can't hardly find a soft-shell crab ' ;ii!iiiii:: Taylor Donahue at Lewes Flshhomm displays a bushel of medium size blue cram thtt retails for $160. anywhere along the East Coast," he said. A dozen blue crabs costs $28 and a half bushel runs $79 at Jimmy Lynn's. A 16-ounce con- tainer of Maryland jumbo crab- meat is $26.95. "Crabmeat is up $2 a pound from last year and a bushel is up about $20," said Lynn. Prices are comparable at Lewes Fishhouse, with a half bushel run- ning $80. The blue crabs are mainly from the Carolina area. "They're impossible to get," said Taylor Donahue, referring to Delaware blue crabs. Marian Webster is vacationing in Rehoboth and said the price for crabs is not unexpected. "I paid $30 for a dozen elsewhere, so I think this is a bargain;' said Web- ster. "I don't care where the crabs come from long as they are of good quality." Individuals who prefer to forgo the cracking of crab legs by pur- chasing lump crabmeat are also taking the higher prices in stride. "I wouldn't bdy it for myself at home but we're on vacation, and you're supposed to treat yourself," said Pennsylvania nativo Joe Reyes, who purchased three, 16- ounce containers of jumbo crab- meat that totaled around $65. 'hen you lave good, '$- raised menu prices to reflect the fluctuating price of blue crabs. "I've been in this business for 18 years and it's getting tougher and tougher to find crabs," said owner Susan Fluharty. The market charges $26 per dozen and $160 a Imsbel. The CrabBarn Restaurant in Rehoboth goes through "a whole lot of crabs." The restaurant pri- marily uses blue crabs from North to Fink. Like Manufacturing job market opens in Milford Gov. Ruth Ann Minner joined employees of the Baltimore Air- coil Company (BAC) recently for a groundbreaking that marks the beginning of a 50,000-square-foot plant expansion and the creation of 125 manufacturing jobs. The project represents a $2.3 million capital investment in Delaware. "This is a great day for Delaware and my hometown of Milford," Minner said. "In to- day's economic climate, new, well-paying manufacturing jobs are at the top of every state's wish list. Baltimore Aircoil's decision to expand here says a lot about Delaware's value as a business destination." BAC, headquartered in Balti- more is a refrigeration, air-condi- tioning, industrial, process, and power generation cooling compa- Continued on page 34 There's no cure for SNIOP- negative influence disease About 30 years ago when I was first selling life and health insur- ance, I enrolled in a sales school that was taught by a man named Lee Dubois. Mr. Dubois did not teach the course in person, but rather he taught the course via video and audio tapes. If my memory serves, our insur- ance agency spent about $10,000 for a series of I0 tapes. Ten thou- sand dollars 30 years ago was quite a sum. But as far as I am concerned, it was a fantastic course and I still utilize many of his teachings today. One of his tapes dealt with goal setting. Mr. Dubois, in his south- ern drawl, made the comment that there was a major mental illness that was sweeping the country and probably could qualify as an epi- demic. Even though Mr. Dubois made that statement more than 30 years ago I believe the same ill- ness is still very prevalent in to- day's world. Mr. Dubois labeled that sick- ness with the acronym SNIOP, and he pronounced it in two sylla- bles, sni-op. The acronym stood for Susceptible to the Negative In- fluence of Other People. Unfortu- nately, this exact same observa- tion can be made today. In other. words, no medical cure has been found for this illness to date. FINANCIAL FOCUS David Clogg Let me give you a general ex- ample of this disease. A young ambitious person gets out of col- lege and decides to give commis- sion sales a chance. The individual decides on a ca- reer selling life and health insur- ance. But when he discusses his choice of vocation with his friends, they say, you went to col- lege and now you are going to sell life insurance? They then go on to claim selling life insurance is far too difficult and most individuals never suc- ceed. As a matter of fact they state only 12 percent survive after the first five years, not good odds at all. They will also add that you probably will have to work nights and weekends which will interfere with their social life. They even add that you will be rejected by most of your prospects and rejec- tion is hard to take. Then just for good measure they will liken the insurance salesman to the used car salesman. Talk about negative influence. You are almost defeated before you even get started. Then, once you get started and you are strug- gling to succeed, your friends will gladly remind you that they told you so. Well this is just one prime ex- ample of SNIOP. If you let your friends' negative influence effect you, you will probably fail. How do you overcome SNIOP? First, you must recognize that most people that make negative comments are judging you by their own abilities and biases. Re- member you are not them. Secondly, make sure you have a well thought out plan of action be- fore you tackle any goal and make sure you have the desire to suc- ceed. The above two thoughts are your prescription for curing SNIOP. As a result of the past three years in the investment arena, SNIOP is raising its ugly head in major proportions. We all hear the same comments. Our business leaders are corrupt. They are greedy at our expense. The individual investor can't do well because they don't get inside information like the more affluent do. The world is at unrest. Iraq will cause us problems for years to come. The Middle East will never see peace. The dollar is falling as the world is losing confidence in the United States. Deflation is near. I could go on and on, but obviously my space is limited. Problems are nothing new to us and our country. Our country has been besieged with economical and political problems ever since July 4, 1776. We have faced and survived the Civil War, the first and second World Wars, Korean War, and the Vietnam conflict. We have survived presidential assassi- nations, Watergate and the Cuban Missile Crisis. Our people made it through the Great Depression. Our capitalistic society has fought its way through several recessions. The list of ob- stacles is endless. Yet today we are the world's strongest country both economically and politically. Therefore, as an investor it is important not to get caught up in the daily negative influence of the media and the people we associate with. It is important to look at the past and realize life goes on. We are a nation of survivors. It is im- perative to keep in mind that the stock market gives us our best in- vestment results over time. Learn to look for stocks that can actually benefit from troubled times. For example, the Homeland Se- curity Act offers opportunities in the various security protection companies. Two small cap compa- nies you might want to take a look at are Telecommunication Sys- tems Inc. and La Barge Inc. If the dollar is weaker, look for companies that export a large per- centage of their business to for- eign countries where their curren- cy has gotten stronger against the dollar. The weaker dollar makes our exports more desirable. The bottom line: don't be Sus- ceptible to the Negative Influ- ences of Other People. When it comes to investing your dollars, stick to your game plan. Create a positive scenario from the present problems we are faced with and find companies that can actually benefit from the current environ- ment. Obviously this takes work on your part, but anything worth- while takes effort. Editor's note: David R. Clogg is a financial adviser at Chapin, Davis of Baltimore. For more in- formation, call 410-435-3200. ........ v -qI7-!Ul] 'l *] ..... TI -[ ] ' " "-llgrN]llTlTInglllll[|liiiitililm ............ Inl|iIHilllIlllIll/THlllll|lll "IIII-[[ET " ]IRIHIIIIIIlIIIr[[TTIqTT[IIIIIIIII]IIIiHiIOEII[1T|IFF|[][iI1TV] VTT