September 30, 2009

Blogging Along the Brandywine


The
extraordinary people who quietly transform lives are often those who live in
our own neighborhoods.

Susan
Hauser was one of those people.

I
moved to Chadds Ford 30 years ago to be closer to a new teaching
assignment.  During that first
year, while reading the paper, I noticed a small article about the Chadds Ford
Historical Society, asking people to get involved.

Their
contact person was Susan Hauser.

And
so I called her.

Within
two years I was chair of the entertainment committee at Chadds Ford Days, and
performing 18th century folk ballads at the society’s Colonial
Dinners and Tavern Nights at the Barnes Brinton House. I was also guiding and
baking bread in the beehive oven at the John Chad House.

This
led to invitations to the Boards of Directors at the Brandywine Battlefield
Park Associates and later the Sanderson Museum.

Susan
Hauser died of cancer on Sept. 8 and for those of us who knew her, Chadds Ford
will never be the same.

Longtime
friend, neighbor and preservationist Kathy Wandersee, said recently, “Susan and
I first met back in 1974. We had just purchased a house on Brintons Bridge Road
after a six-year transfer to Switzerland. The Hausers were moving out to a
transfer to Switzerland.  So, we
didn’t really know each other until they came back about 4 years later to live
next door again.”

On
learning about Susan’s skills in public relations, Kathy asked her if she would
be interested in doing public relations for the Historical Society. That was
the beginning of Susan’s 20 year volunteer position of public relations person
for the Chadds Ford Historical Society.

According
to Wandersee, “It is no exaggeration that so much of
what the Chadds Ford Historical Society is today, is because of Susan Hauser.”

Susan
later became senior planner at the Delaware County Planning Department and
contributed to the conservation of many of our natural and historic resources.

It
was while there that she researched and wrote the Historic Resources Survey for
Birmingham (now Chadds Ford) Township, researching and documenting over 100
historic buildings and sites in Chadds Ford Township.

In
1984 when the documentary “Chester County, A Quiet Surprise” was being filmed,
I participated in an 18th century scene in the Barnes-Brinton
Tavern. What took 4 hours to film lasted maybe 20 seconds on the screen. But
there in the middle of it all was a handsome young teenager in Colonial clothes
with his violin- Susan’s son, Jeffery.

Two
years later on the first day of spring, Jeffrey Hauser lost his life in a
skiing accident while competing in a Junior Olympics Ski Tournament in
Killington, Vermont.     

 The first day of spring, a day that
should be filled with the hope of renewed life, would never be the same for
Susan and Bill.

But
for the last twenty years, a graduating Unionville senior has received the
Jeffrey Hauser Memorial Fund scholarship.

Speaking
at Susan’s memorial service on Sept. 25 at Westminster Presbyterian, Tracy
Hauser Scarrow, said her mother would call her last few weeks of life her
“Journey to Jeffery”.

And
at the opening of that service, the Reverend Don Lincoln called Susan, “a quiet
and courageous saint”. 

Later,
her husband Bill would ask people to remember her every time they saw one of
the familiar Brandywine Valley directional signs.

Maybe
you didn’t know Susan, and yet her life has touched yours.

Now
go out and be extraordinary.

About Sally Denk Hoey

Sally Denk Hoey, is a Gemini - one part music and one part history. She holds a masters degree cum laude from the School of Music at West Chester University. She taught 14 years in both public and private school. Her CD "Bard of the Brandywine" was critically received during her almost 30 years as a folk singer. She currently cantors masses at St Agnes Church in West Chester where she also performs with the select Motet Choir. A recognized historian, Sally serves as a judge-captain for the south-east Pennsylvania regionals of the National History Day Competition. She has served as president of the Brandywine Battlefield Park Associates as well as the Sanderson Museum in Chadds Ford where she now curates the violin collection. Sally re-enacted with the 43rd Regiment of Foot and the 2nd Pennsylvania Regiment for 19 years where she interpreted the role of a campfollower at encampments in Valley Forge, Williamsburg, Va., Monmouth, N.J. and Lexington and Concord, Mass. Sally is married to her college classmate, Thomas Hoey, otherwise known as "Mr. Sousa.”

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Know Your Finances

A year ago our economy was in deep trouble.  Poor economic reports headlined the news weekly and, after
the Lehman collapse, shocked the stock market into a continuous steep decline
into early March of this year.  Now
that the stock market has performed well in both the second and third quarters
people are once again actually reading their investment statements before
filing them.  Though stock market gains
are making individuals’ feel wealthier, confidence remains low, which is to be
expected given that our nascent economic recovery is a jobless one.

I believe our economy is on track for a recovery in the fourth
quarter. Housing starts and prices are beginning to bottom out. Consumers are saving
again and cleaning their balance sheets, companies are lean and primed for
rebuilding inventories, trade balances with emerging markets are improving, and
the bulk of the federal stimulus money will probably be spent in the fourth
quarter of 2009 and first quarter of 2010.

There are risks that could delay a recovery. If long-term interest rates
rise, that would impede a housing recovery and restrain business investment
spending. If consumers turn more pessimistic they could overdo their savings
and suppress a recovery in consumer spending.

But on balance it appears that the climate has improved and the pieces
are in place for a recovery.

Housing prices are still falling but the decline is
finally slowing down. Rising sales volumes in many markets, including Los
Angeles, Las Vegas, Phoenix, and Miami, indicate that markets are clearing inventory
and housing prices are approaching cyclical lows. Prices are still 12 percent
lower than last year but clearly an improvement from the 20 percent year over
year declines we saw earlier in 2009.

New construction remains depressed, but early signs of
stabilization are evident. Two previously negative forces, rising mortgage
rates and increasing energy prices, have stalled in the last few months. The
longer these two potential negatives remain range bound, the more time this
recovery can mature and gain strength.

Americans are saving again! The lavish spending binge brought on by
easy credit and low interest rates is drawing to a close. The hangover will
stay with us for some time, but at least the party is over. It is a normal
corrective process that occurs in virtually all recessions for households to
cut spending and replenish savings.  Historically, the US household savings rate has averaged 7
percent of income. During the economic boom of 2003-2007, it dropped close to 0
percent. We are back to 5 percent levels now and I anticipate it rising to 7
percent in 2010.

Corporate earnings outperformed in the first and second
quarters largely from cost cutting. 
Most of the cost cutting is over and companies are as lean and mean as
they can get.

If the United States economic recovery occurs slower than we anticipate,
we are hopeful that emerging economies such as China, India, and others, will
be an engine of growth for us. Emerging world consumption has grown more than
twice as fast as United States consumption. Plus, this new consumer force is
much younger than our population and holds much less debt.

How Will
The Stock Market Fare?

Though we may have weathered the storm of the last 18 months, our
economy is weakened and still fragile. 
The stock market will exaggerate its reactions to economic reports as it
tries to answer the question “is it safe?”.  Investors who have benefited from the recent gains wonder if
it is time to get back to the sidelines and investors who have been on the
sidelines wonder if they should finally participate.

No one knows how far the market will go before it takes a breather. It
is important to remain flexible to change and keep portfolios sufficiently liquid
to take advantage of opportunities in the stock market. My best guess, though,
is that the stock market has more room to run from here. I believe companies
will show better than expected growth in coming quarters and sidelined money
will come into the market and further support stock momentum. Yields on money
market funds and bond investments are sufficiently low to compel investors to
take on some risk in the stock market. Additionally, relative to bond yields,
stock dividend yields are at historically high levels. With careful
stock choices, the stock market may indeed finally “be safe.”

About Ellen Le

Ellen is the Founder and President of Ascend Investment Management. She was born in Philadelphia and has lived in the Delaware Valley for most of her life. When she is not researching investments and managing portfolios, she pursues her interests in tennis, bridge, hiking and art. Beginning her investment career in 1981 as a stockbroker at E.F. Hutton and Co., Ellen now has over 20 years of investment management experience. Prior to founding Ascend in 2006, she managed high net worth assets for many years at Bank of America, Mellon Bank, and most recently at Davidson Capital Management. At Davidson Capital Management, Ellen served as a Senior Vice President and Senior Portfolio Manager of the firm. She managed assets for more than 50 family relationships and was a core member of the firm’s Investment Committee.Ellen earned a BA in History from Brown University and a MBA in Finance & Investments from The George Washington University. She is a member in good standing of the Chartered Financial Analyst (CFA) Institute, which is a global organization dedicated to setting a high ethical standard for the investment profession. Her professional memberships include the Delaware County Estate Planning Council, Women Enhancing Business (WEB), and the Chadds Ford Business Association. She is a docent with the Delaware Art Museum and an active volunteer with the Brown University Alumni Association.

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