June 7, 2010

The 30th annual Napa Valley Wine Auction last weekend raised significantly more money for local charities than the 2009 event. The take for this year's auction was $7.1 million, up dramatically from last year's $4.3 million. This is still below the record $9.25 raised in 2005. The money goes to local charities such as Community Health Clinic, Boys & Girls Clubs and Napa Valley Community Housing. The top bid this year was $350,000 which featured 10 magnums of Harlan Estate wine from Napa Valley and a dinner for eight.

The Bangles (remember them: "Walk Like an Egyptian") provided the evening's entertainment. If you're thinking of going next year, the price in 2010 just to get in was $2,500.

On a more prosaic level, The Kiplinger Letter reports that the housing recovery is "real and sustainable."

1.  Houses are affordable, now taking on average 18% of family income for principal and interest payments compared with long-term average of 26%.
2. Consumer confidence is improving. A study by University of Michigan says three-fourths of Americans feel this is "good time to buy."
3. Credit conditions are expected to ease.

Kiplinger also reports that the much-maligned stimulus money will keep some private contractors working through 2010. (See www.recovery.gov.)

Does all this mean things are really getting better? We'll see.

George Rothert