The Pilgrims (though they weren't called that at the time) originated with the members of a Separatist congregation from Scrooby, Nottinghamshire, England, whose pastors were Richard Clifton and John Robinson.1 This congregation suffered difficult persecution in England because they dissented from the state Church of England. William Bradford, one of the original Mayflower emigrants, wrote that
"[The church members] were hunted and persecuted on every side, so as their former afflictions were as flea-bitings in comparison of these which now came upon them. For some were taken and clapt up in prison, others had their houses besett and watcht night and day, and hardly escaped their hands; and the most were faine to flie and leave their howses and habitations, and the means of their livelihood... Yet, seeing themselves thus molested, and that there was no hope of their continuance there, but a joynt consent, they resolved to goe into the Low Countries, where they heard was freedom of religion for all men...."2
The congregation moved to Holland in 1607 where religious freedom was greater. Some who were in prison, didn't get there for another year.
They settled in Amsterdam for a year, but then moved to Leiden, Holland, where they lived for a dozen years. But life was difficult for these expatriates. As foreigners they were deprived of a chance at the best jobs, and struggled to maintain even a low standard of living. Times were tough. But what caused them to move were their teenagers. They had religious freedom, but
"Many of their children … by the great licentiousness of youth in that countrie, and the manifold temptations of the place, were drawne away by evill examples into extravagante and dangerous courses."3
They were losing their young people and struggling at the bottom of the economic scale. If they returned to England they faced severe persecution and imprisonment. So in 1620 many from the congregation decided to emigrate to America, to the New World. Three groups came on the Mayflower:
Saints -- members of the Separatist Leiden congregation,
Strangers -- members of the Church of England who were emigrating for economic reasons, and
Crew Members -- seamen aboard the Mayflower, some of whom were contracted to work in the Plymouth Colony for a year or longer.
The "strangers" weren't non-Christians. They were probably members of the Church of England and would count themselves as Christians. But they didn't share the Separatists' refusal to be a part of what they considered to be the corrupt state church.
We ought to make a couple of distinctions here. Strictly speaking, Separatists were pious Christians who had given up on the Church of England and formed their own congregations. Puritans, on the other hand, were members of the Church of England who wanted to purify the Church from its worldliness and corruption. Instead of separating (in the early days), they formed religious societies within Anglican congregations. A number of these groups, like the Mayflower group, fled to Holland. They were the beginnings of the Congregationalist and Baptist churches that put down early roots in America.
Though the Plymouth Colony was the first Separatist colony in New England, the Puritan Massachusetts Bay Colony was established by royal charter in 1629. But apparently the Massachusetts Puritans had something in common with the Plymouth Separatists even before they sailed for America -- the autonomy of the local congregation and a restriction of membership to "those predestined to be God's elect."4 As time went on the churches in Plymouth and the Massachusetts Bay Colony came to resemble each other.
But the Plymouth colonists still weren't called Pilgrims, not for many years, not until 1840. At that point someone resurrected William Bradford's original phrase describing the Saints that had left Leiden to travel aboard the Mayflower to the New World. They left Leiden, he said, "that goodly & pleasante citie which had been their resting place for near 12 years; but they knew they were pilgrimes, & looked not much on those things, but lift up their eyes to ye heavens, their dearest cuntrie, and quieted their spirits."5
Since the 1840s the Mayflower settlers have been referred to as the Pilgrims, echoing the verse from the Bible that Bradford had in mind:
"These all died in faith, not having received the promises, but having seen them afar off, and were persuaded of them, and embraced them, and confessed that they were strangers and pilgrims on the earth. For they that say such things declare plainly that they seek a country. And truly, if they had been mindful of that country from whence they came out, they might have had opportunity to have returned. But now they desire a better country, that is, an heavenly: wherefore God is not ashamed to be called their God: for he hath prepared for them a city" (Hebrews 11:13-16, KJV).
Russian analyst predicts decline and breakup of U.S. | |
| |
Professor Igor Panarin said in an interview with the respected daily Izvestia published on Monday: "The dollar is not secured by anything. The country's foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse."
The paper said Panarin's dire predictions for the U.S. economy, initially made at an international conference in Australia 10 years ago at a time when the economy appeared strong, have been given more credence by this year's events.
When asked when the U.S. economy would collapse, Panarin said: "It is already collapsing. Due to the financial crisis, three of the largest and oldest five banks on Wall Street have already ceased to exist, and two are barely surviving. Their losses are the biggest in history. Now what we will see is a change in the regulatory system on a global financial scale: America will no longer be the world's financial regulator."
When asked who would replace the U.S. in regulating world markets, he said: "Two countries could assume this role: China, with its vast reserves, and Russia, which could play the role of a regulator in Eurasia."
Asked why he expected the U.S. to break up into separate parts, he said: "A whole range of reasons. Firstly, the financial problems in the U.S. will get worse. Millions of citizens there have lost their savings. Prices and unemployment are on the rise. General Motors and Ford are on the verge of collapse, and this means that whole cities will be left without work. Governors are already insistently demanding money from the federal center. Dissatisfaction is growing, and at the moment it is only being held back by the elections and the hope that Obama can work miracles. But by spring, it will be clear that there are no miracles."
He also cited the "vulnerable political setup", "lack of unified national laws", and "divisions among the elite, which have become clear in these crisis conditions."
He predicted that the U.S. will break up into six parts - the Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong.
He even suggested that "we could claim Alaska - it was only granted on lease, after all."
On the fate of the U.S. dollar, he said: "In 2006 a secret agreement was reached between Canada, Mexico and the U.S. on a common Amero currency as a new monetary unit. This could signal preparations to replace the dollar. The one-hundred dollar bills that have flooded the world could be simply frozen. Under the pretext, let's say, that terrorists are forging them and they need to be checked."
When asked how Russia should react to his vision of the future, Panarin said: "Develop the ruble as a regional currency. Create a fully functioning oil exchange, trading in rubles... We must break the strings tying us to the financial Titanic, which in my view will soon sink."
Panarin, 60, is a professor at the Diplomatic Academy of the Russian Ministry of Foreign Affairs, and has authored several books on information warfare.
Work stacking up for shoe-repair shops
By Emily Nelson, The Burlington (Vt.) Free Press
Steven Hopkins, owner of Onion River Cobbler in Winooski, Vt., fixes the stitching on a pair of sneakers recently.
By Dan McLean and Adam Silverman, USA TODAY
WINOOSKI, Vt. — There's nearly a four-week wait to get shoes resoled at Onion River Cobbler here. Normally, customers would have their footwear fixed in 10 days.
"This was the busiest summer I've ever had," says Steven Hopkins, who asks people at his 23-year-old shop to call him "The Cobbler."
If customers grumble about the long wait, he refers them to a sign hanging on the wall, which reads: "Lack of planning on your part does not constitute an emergency on mine."
As household budgets tighten, the economy sinks and unemployment rates climb, stories like The Cobbler's are becoming increasingly common. People looking for ways to save money are turning to the shoe-repair business to help, cobblers and industry advocates say.
Cobblers at the nation's roughly 7,000 repair shops — down from more than 100,000 in the 1930s — are thriving, bordering on overwhelmed, says John McLoughlin, president of the Shoe Service Institute of America (SSIA), an industry group composed of volunteers.
"Everywhere you talk to right now, their business is just flying. They're doing absolutely fantastic. The only problem is keeping up with the work," McLoughlin says. ¶
Kelly Thorsen, 47, a secretary from Lakeland, Fla., visited a cobbler last week for the first time. "I can't go out and buy another pair of boots," she says.
So she brought her favorite footwear into McFarland's Shoe Repair in Lakeland for a $16 fix after finding $100 to $200 price tags on potential replacements. A mother of two, Thorsen says the tough times mean she can't spend that much on new shoes — plus, she gets to keep her trusty 10-year-old boots. "Not only am I going to have back my very favorite pair of shoes, … I'm saving a lot of money," she says.
Store owner Jim McFarland says he's had a lot of customers like Thorsen lately. "I've seen more shoes in here in the last 10 days than I've seen in years," says McFarland, a third-generation cobbler.
At Salzman's Shoe and Boot Repair in Greeley, Colo., owners Sally and George Salzman are growing busier — as they always do when times are tough, Sally Salzman says. "People get things fixed rather than throwing them out," she says.
Nelson Ramos, owner of Corrective Shoe Repair in Washington, D.C., added some help to keep up with demand. "I rehired one of my guys to get us through the fall and winter," Ramos says.
Cobblers know their success comes as many people, customers included, are hurting. "I have people come in here who've been laid off after 20, 30 years," says McFarland, a former SSIA board member. "My 401(k) that I've been saving for 15 years is in half, man. I want the economy to thrive. But at the same time, the shoe-repair industry is almost bulletproof. When it's really hard out there, I thank God I'm in this business, because at least I know I can pay my bills."
McLean and Silverman report for The Burlington (Vt.) Free Press.
http://www.usatoday.com/money/economy/2 ... pair_N.htm
By Mark Pittman and Bob Ivry
Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.
When Congress approved the TARP on Oct. 3, Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson acknowledged the need for transparency and oversight. Now, as regulators commit far more money while refusing to disclose loan recipients or reveal the collateral they are taking in return, some Congress members are calling for the Fed to be reined in.
“Whether it’s lending or spending, it’s tax dollars that are going out the window and we end up holding collateral we don’t know anything about,” said Congressman Scott Garrett, a New Jersey Republican who serves on the House Financial Services Committee. “The time has come that we consider what sort of limitations we should be placing on the Fed so that authority returns to elected officials as opposed to appointed ones.”
Too Big to Fail
Bloomberg News tabulated data from the Fed, Treasury and Federal Deposit Insurance Corp. and interviewed regulatory officials, economists and academic researchers to gauge the full extent of the government’s rescue effort.
The bailout includes a Fed program to buy as much as $2.4 trillion in short-term notes, called commercial paper, that companies use to pay bills, begun Oct. 27, and $1.4 trillion from the FDIC to guarantee bank-to-bank loans, started Oct. 14.
William Poole, former president of the Federal Reserve Bank of St. Louis, said the two programs are unlikely to lose money. The bigger risk comes from rescuing companies perceived as “too big to fail,” he said.
‘Credit Risk’
The government committed $29 billion to help engineer the takeover in March of Bear Stearns Cos. by New York-based JPMorgan Chase & Co. and $122.8 billion in addition to TARP allocations to bail out New York-based American International Group Inc., once the world’s largest insurer.
Citigroup received $306 billion of government guarantees for troubled mortgages and toxic assets. The Treasury Department also will inject $20 billion into the bank after its stock fell 60 percent last week.
“No question there is some credit risk there,” Poole said.
Congressman Darrell Issa, a California Republican on the Oversight and Government Reform Committee, said risk is lurking in the programs that Poole thinks are safe.
“The thing that people don’t understand is it’s not how likely that the exposure becomes a reality, but what if it does?” Issa said. “There’s no transparency to it so who’s to say they’re right?”
The worst financial crisis in two generations has erased $23 trillion, or 38 percent, of the value of the world’s companies and brought down three of the biggest Wall Street firms.
Markets Down
The Dow Jones Industrial Average through Friday is down 38 percent since the beginning of the year and 43 percent from its peak on Oct. 9, 2007. The S&P 500 fell 45 percent from the beginning of the year through Friday and 49 percent from its peak on Oct. 9, 2007. The Nikkei 225 Index has fallen 46 percent from the beginning of the year through Friday and 57 percent from its most recent peak of 18,261.98 on July 9, 2007. Goldman Sachs Group Inc. is down 78 percent, to $53.31, on Friday from its peak of $247.92 on Oct. 31, 2007, and 75 percent this year.
Regulators hope the rescue will contain the damage and keep banks providing the credit that is the lifeblood of the U.S. economy.
Most of the spending programs are run out of the New York Fed, whose president, Timothy Geithner, is said to be President- elect Barack Obama’s choice to be Treasury Secretary.
‘They Got Snookered’
The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. It’s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office figures. It could pay off more than half the country’s mortgages.
“It’s unprecedented,” said Bob Eisenbeis, chief monetary economist at Vineland, New Jersey-based Cumberland Advisors Inc. and an economist for the Atlanta Fed for 10 years until January. “The backlash has begun already. Congress is taking a lot of hits from their constituents because they got snookered on the TARP big time. There’s a lot of supposedly smart people who look to be totally incompetent and it’s all going to fall on the taxpayer.”
President Franklin D. Roosevelt’s New Deal of the 1930s, when almost 10,000 banks failed and there was no mechanism to bolster them with cash, is the only rival to the government’s current response. The savings and loan bailout of the 1990s cost $209.5 billion in inflation-adjusted numbers, of which $173 billion came from taxpayers, according to a July 1996 report by the U.S. General Accounting Office, now called the Government Accountability Office.
‘Worst Crisis’
The 1979 U.S. government bailout of Chrysler consisted of bond guarantees, adjusted for inflation, of $4.2 billion, according to a Heritage Foundation report.
The commitment of public money is appropriate to the peril, said Ethan Harris, co-head of U.S. economic research at Barclays Capital Inc. and a former economist at the New York Fed. U.S. financial firms have taken writedowns and losses of $666.1 billion since the beginning of 2007, according to Bloomberg data.
“This is the worst capital markets crisis in modern history,” Harris said. “So you have the biggest intervention in modern history.”
Bloomberg has requested details of Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit against the central bank Nov. 7 seeking to force disclosure of borrower banks and their collateral.
Collateral is an asset pledged to a lender in the event a loan payment isn’t made.
‘That’s Counterproductive’
“Some have asked us to reveal the names of the banks that are borrowing, how much they are borrowing, what collateral they are posting,” Bernanke said Nov. 18 to the House Financial Services Committee. “We think that’s counterproductive.”
The Fed should account for the collateral it takes in exchange for loans to banks, said Paul Kasriel, chief economist at Chicago-based Northern Trust Corp. and a former research economist at the Federal Reserve Bank of Chicago.
“There is a lack of transparency here and, given that the Fed is taking on a huge amount of credit risk now, it would seem to me as a taxpayer there should be more transparency,” Kasriel said.
Bernanke’s Fed is responsible for $4.74 trillion of pledges, or 61 percent of the total commitment of $7.76 trillion, based on data compiled by Bloomberg concerning U.S. bailout steps started a year ago.
“Too often the public is focused on the wrong piece of that number, the $700 billion that Congress approved,” said J.D. Foster, a former staff member of the Council of Economic Advisers who is now a senior fellow at the Heritage Foundation in Washington. “The other areas are quite a bit larger.”
Fed Rescue Efforts
The Fed’s rescue attempts began last December with the creation of the Term Auction Facility to allow lending to dealers for collateral. After Bear Stearns’s collapse in March, the central bank started making direct loans to securities firms at the same discount rate it charges commercial banks, which take customer deposits.
In the three years before the crisis, such average weekly borrowing by banks was $48 million, according to the central bank. Last week it was $91.5 billion.
The failure of a second securities firm, Lehman Brothers Holdings Inc., in September, led to the creation of the Commercial Paper Funding Facility and the Money Market Investor Funding Facility, or MMIFF. The two programs, which have pledged $2.3 trillion, are designed to restore calm in the money markets, which deal in certificates of deposit, commercial paper and Treasury bills.
Lehman Failure
“Money markets seized up after Lehman failed,” said Neal Soss, chief economist at Credit Suisse Group in New York and a former aide to Fed chief Paul Volcker. “Lehman failing made a lot of subsequent actions necessary.”
The FDIC, chaired by Sheila Bair, is contributing 20 percent of total rescue commitments. The FDIC’s $1.4 trillion in guarantees will amount to a bank subsidy of as much as $54 billion over three years, or $18 billion a year, because borrowers will pay a lower interest rate than they would on the open market, according to Raghu Sundurum and Viral Acharya of New York University and the London Business School.
Congress and the Treasury have ponied up $892 billion in TARP and other funding, or 11.5 percent.
The Federal Housing Administration, overseen by Department of Housing and Urban Development Secretary Steven Preston, was given the authority to guarantee $300 billion of mortgages, or about 4 percent of the total commitment, with its Hope for Homeowners program, designed to keep distressed borrowers from foreclosure.
Federal Guarantees
Most of the federal guarantees reduce interest rates on loans to banks and securities firms, which would create a subsidy of at least $6.6 billion annually for the financial industry, according to data compiled by Bloomberg comparing rates charged by the Fed against market interest currently paid by banks.
Not included in the calculation of pledged funds is an FDIC proposal to prevent foreclosures by guaranteeing modifications on $444 billion in mortgages at an expected cost of $24.4 billion to be paid from the TARP, according to FDIC spokesman David Barr. The Treasury Department hasn’t approved the program.
Bernanke and Paulson, former chief executive officer of Goldman Sachs, have also promised as much as $200 billion to shore up nationalized mortgage finance companies Fannie Mae and Freddie Mac, a pledge that hasn’t been allocated to any agency. The FDIC arranged for $139 billion in loan guarantees for General Electric Co.’s finance unit.
Automakers Struggle
The tally doesn’t include money to General Motors Corp., Ford Motor Co. and Chrysler LLC. Obama has said he favors financial assistance to keep them from collapse.
Paulson told the House Financial Services Committee Nov. 18 that the $250 billion already allocated to banks through the TARP is an investment, not an expenditure.
“I think it would be extraordinarily unusual if the government did not get that money back and more,” Paulson said.
In his Nov. 18 testimony, Bernanke told the House Financial Services Committee that the central bank wouldn’t lose money.
“We take collateral, we haircut it, it is a short-term loan, it is very safe, we have never lost a penny in these various lending programs,” he said.
A haircut refers to the practice of lending less money than the collateral’s current market value.
Requiring the Fed to disclose loan recipients might set off panic, said David Tobin, principal of New York-based loan-sale consultants and investment bank Mission Capital Advisors LLC.
‘Mark to Market’
“If you mark to market today, the banking system is bankrupt,” Tobin said. “So what do you do? You try to keep it going as best you can.”
“Mark to market” means adjusting the value of an asset, such as a mortgage-backed security, to reflect current prices.
Some of the bailout assistance could come from tax breaks in the future. The Treasury Department changed the tax code on Sept. 30 to allow banks to expand the deductions on the losses banks they were buying, according to Robert Willens, a former Lehman Brothers tax and accounting analyst who teaches at Columbia University Business School in New York.
Wells Fargo & Co., which is buying Charlotte, North Carolina-based Wachovia Corp., will be able to deduct $22 billion, Willens said. Adding in other banks, the code change will cost $29 billion, he said.
“The rule is now popularly known among tax lawyers as the ‘Wells Fargo Notice,’” Willens said.
The regulation was changed to make it easier for healthy banks to buy troubled ones, said Treasury Department spokesman Andrew DeSouza.
House Financial Services Committee Chairman Barney Frank said he was angry that banks used the money for acquisitions.
“The only purpose for this money is to lend,” said Frank, a Massachusetts Democrat. “It’s not for dividends, it’s not for purchases of new banks, it’s not for bonuses. There better be a showing of increased lending roughly in the amount of the capital infusions” or Congress may not approve the second half of the TARP money.
To contact the reporters on this story: Mark Pittman in New York at mpittman@bloomberg.net; Bob Ivry in New York at bivry@bloomberg.net.
http://www.bloomberg.com/apps/news?pid= ... refer=home
Posted: Nov 22 2008 By: Jim Sinclair Post Edited: November 22, 2008 at 10:48 pm
Filed under: General Editorial
My Dear Extended Family,
Things are now "Out of Control."
This international financial crisis is now out of control as the world asks if the USA has two presidents, one president or no president at all.
It would appear that Paulson is in financial control with Bernanke as his second.
I warned you by personal email long before the statement was proven totally correct that “This is it.” That was followed by “This is it, and it is now.” Many people laughed it off.
This is it, and it is now.
Now it is out of control.
Now we enter the Collapse of Confidence period.
Then we begin the Weimar Experience.
It has all hit the fan, and still the absolute majority have no clue. The OTC derivative dealers broke the system into millions of pieces of glass. This broken glass cannot be put back together.
It is heart rending to see a picture of GM autoworkers holding a prayer meeting for their retirement funds. The retirement money was never funded. It is a lost hope. This is another responsibility the government has undertaken that is going to go wild.
Those of you still in freeze frame are headed for lines around your bank. Your bank will likely be acquired by another bank that also is in deep trouble.
The US dollar, like a leaderless company, will lose its respect and therefore value.
In order of importance the following MUST be done unless you want to be one of the suffering masses that will be all too visible this winter:
1. You must have your assets held anywhere they are in true custodial-ship accounts. That type of account at a bank or broker states clearly that the assets held there are not on the balance sheet of the host financial entity. Those assets are clearly segregated in your name. This must be reviewed by counsel to be sure you have what you think you have. Don’t cheap out. All you have is depending on the validity of true custodial-ship accounts.
You cannot know all the banks are broke, however I feel ALL banks are broke because finance is an intertwined system that if visible would look like a spider’s web. Problems on the top will materialize all along the web. Therefore the singular most important step you must take is the establishment of a true custodial-ship account.
Do not assume you have this type of account unless a competent attorney reviews the account papers.
2. I am extremely concerned about those of you who persist in holding certificates for gold rather than holding the actual metal either delivered to you or held for you in a true custodial-ship type account. The scams out there in gold are plentiful. The only way to avoid these scams absolutely is to have your gold in your own possession.
Every other means of holding gold is steps away from perfection. Some will be ok, but many will not.
3. Why would anyone fail to either take paper certificates or order their financial agent to make direct registration book entry at the transfer agent? In most cases you only have until year-end to accomplish this strategy.
4. Withdraw from ETFs.
5. If you carelessly keep large assets with your broker you are as mad as a hatter. The FDIC DOES NOT have the money to guarantee all they are undertaking. Withdraw excess money constantly from any net broker. If you are so stubborn that you think you can trade to insure yourself when your funds are not making money while still getting your money that counts you are nuts. Admit to yourself you are nothing more than a gambling addict in a downward spiral.
6. Leave no gold or coins with any coin dealer.
7. If you can withdraw from your corporate retirement plan do it.
8. Withdraw from credit unions.
9. Withdraw from all money market instruments.
10. This is it.
11. It is now.
12. It is out of control NOW.
The next two months are going to be shocking, but nothing compared to what you will have to experience in 2009.
Respectfully yours,
Jim
http://jsmineset.com/index.php/2008/11/ ... struction/
DESERT HOT SPRINGS, Calif. — Solar power, with its promise of emissions-free renewable energy, boasts a growing number of fans. Some of them, it turns out, are thieves.
Just ask Glenda Hoffman, whose fury has not abated since 16 solar panels vanished from her roof in this sun-baked town in three separate burglaries in May, sometimes as she slept. She is ready if the criminals turn up again.
“I have a shotgun right next to the bed and a .22 under my pillow,” Ms. Hoffman said.
Police departments in California — the biggest market for solar power, with more than 33,000 installations — are seeing a rash of such burglaries, though nobody compiles overall statistics.
Investigators do not believe the thieves are acting out of concern for their carbon footprints. Rather, authorities assume that many panels make their way to unwitting homeowners, sometimes via the Internet.
Last November, someone tried to sell solar panels stolen from a toll road in Newport Beach for $100 each on eBay. Detectives from the local police department entered the bidding and won the panels, which were worth nearly $1,500 apiece, according to Sgt. Evan Sailor, a Newport Beach police spokesman.
When Nathan Tyrone Mitchell, a resident of Santa Monica, showed up to hand over the panels, the police greeted him with handcuffs.
Mr. Mitchell, who was charged with possession of stolen property, has pleaded not guilty. His lawyer, Charles Stoddard, said that his client had bought the panels from someone on Craigslist and then tried to resell them on eBay for a profit. “Our contention is that Mr. Mitchell is just an innocent purchaser who kind of got caught up in this thing,” Mr. Stoddard said.
In Contra Costa County, detectives accustomed to handling thefts of copper began to notice solar panels going missing in the last six months, according to Jimmy Lee, a spokesman for the county sheriff’s office.
This summer, an officer on patrol became suspicious when he spotted a man trying to sell solar panels to a home builder who had advertised on Craigslist that he was seeking panels. The officer confiscated the panels and, after detectives found that they matched panels stolen from a school, a California man was charged. Mr. Lee says that law enforcement agencies are investigating about a half-dozen other solar-panel thefts in his area.
“We were surprised and kind of caught off guard” by the solar thefts, said Mr. Lee, who recommends people engrave their driver’s license numbers onto their panels for better identification.
For Tom McCalmont, president of Regrid Power, a solar installation business near San Jose, the problem hit home in late June. His own headquarters was struck by thieves, who took more than $30,000 worth of panels from the roof.
The panels were disassembled expertly, he said, leading him to suspect that someone in the solar industry had done it. He urges clients to install video cameras and alarms for their solar arrays, and likens his own revamped security system to Fort Knox.
“This is the crime of the future,” Mr. McCalmont said.
After suffering a solar theft, some victims find unusual ways to protect their property. Ms. Hoffman, of Desert Hot Springs, could not sleep for several weeks during the string of thefts from her roof.
One night, she waited beside a nearby building and watched her house in an attempt to catch the thieves, causing a suspicious neighbor to call the police. She vows that if she ever catches the culprits, “they’re not going to leave walking” — especially if she feels threatened.
So far, with the losses still modest, homeowners’ insurance is processing the claims with little resistance. Ms. Hoffman’s insurer, State Farm, is paying $95,000 to replace her entire system. She plans to install an alarm, and possibly a video camera.
Not far from Ms. Hoffman, in the town of Palm Desert, Jim and Shayna Powell were devastated after thieves took 19 of their solar panels in June, causing their electricity bill to shoot from $3 to $300 just when they needed air-conditioning the most. “Of all the times of year to steal the panels,” Mr. Powell said in frustration.
Beyond California, solar-power markets are comparatively small, so thefts are still rare — but they are spreading. In the last 18 months, Oregon’s highway department has lost a few panels used to power portable traffic message boards.
In Minnesota, the Sauk River Watershed District has lost at least eight small panels, worth $250 each, in the last few years, according to Melissa Roelike, who coordinates the water quality monitoring program there.
In response, the district has taken steps to protect the panels, including putting them in trees and atop poles. Thieves promptly stole one such panel.
“Obviously, hoisting them 20 feet in the air on a metal pipe does not work,” Ms. Roelike said.
In Europe, where the solar industry is well-established, thievery is entrenched, and measures to ward it off have become standard, including alarm systems and hard-to-unscrew panels.
But in the United States, installers are just coming to grips with the need for alarms, video cameras and indelible engraving of serial numbers. Some people fancy simpler solutions.
Ken Martin Jr. lost 58 panels, which will cost $75,000 to replace, this spring from the roof of a half-empty office building in Santa Rosa, Calif., that he owns. He is considering slapping paint on some parts of his remaining panels — bright pink paint.
“At least if someone comes across them and they’re painted, they’ll know that’s my color,” he said.http://www.nytimes.com/2008/09/24/technology/24solar.html?_r=2
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