The Seiko Professional Divers Watch, men's stuff part ten

If I had to choose one watch from my collection for endurance and serviceability, this Seiko Divers would be the watch. It’s been with me in multiple environments- in deserts, in forests, in saltwater and freshwater, and in the cold of both the Korean DMZ and Alaska. I was also wearing it in 1986 when I broke my leg on the worst airborne jump of my military career. My ankle required some metal implants to repair it, but the watch was hardly scratched.

Today, its roughest mission is to the gym.

It’s a quartz watch, and the second hand begins to mark off two-seconds intervals when the battery needs changing. It’s waterproof to 200 meters or approximately 656 feet (which means it can go places I can’t go); and has a unidirectional rotating bezel, with the first twenty minutes highlighted in bright red. The day-date is at the three o’clock position, and the day can be set in either English or Spanish. The crown, located at the 4 o'clock position, has a very efficient curving crown guard.


I’ve lost track of how many times I’ve replaced the flat rubber bracelet, and despite its age, the luminous hands and markers are still visible in low lighting. I have had the jeweler offer to switch out the scratched bezel, but I like the memories the scratches represent. Remarkably, the crystal is unscratched.

Today, Seiko offers many versions of this watch in both quartz and mechanical models. Despite the fact that some watch aficionados look down upon them, I highly recommend them. They’re durable, inexpensive and don’t have to be babied. (I actually had a case of 5.56 ammunition dropped on mine once, without damage.)

Seiko's most recent technical accomplishment was the development of a space watch for billionaire Richard Garriott that was worn during a space walk outside the International Space Station.

And while strolling down memory lane, here’s the oldest watch in my collection. It’s the Timex I wore in Army Basic Training right out of high school. I remember I bought it with the intention of it being a disposable watch; but miraculously it’s still with me. It not only survived several Army schools, but it also outlived several so-called G-Shock watches and an untold number of GI issue field watches. Today, I still use it while clearing and burning brush or doing outside work. I think every true watch enthusiast has at least one Timex in his collection.

This last photo is of my father’s last field watch, which I inherited after he passed away recently. During my Army career, he developed a fondness for OD Green field watches. As a result I would always buy him a new field watch for Christmas from the PX. When I left the service, the tradition continued and I would always include a field watch with his Christmas packages when he needed a replacement. He loved to putter and work outside and was very hard on his watches. This Orvis version of the GI watch was the last field watch he owned. Prior to end-of-year, I need to clean it up and replace the strap which is very worn due to dad’s continual outdoor use.


Update: Below is my father's Orvis field watch after I cleaned it up and placed a new NATO Nylon Strap on it.


John P.


If you're into watches, check out my other watch related blog posts:

 Hamilton Jazz Master.

 Rolex Submariner.

 Jaeger LeCoultre Reverso

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The Schadenfreude Goes On…

In case you didn’t get enough drama and entertainment from the business pages during summer, here is an interesting article from Fortune Magazine (entitled "The alleged grifter who duped corporate giants"). It deals with something we seldom think about- the movement of consumer goods through unauthorized distribution channels. Fortune Magazine’s James Bandler and Doris Burke explain-

“(Dina) Wein Reis was what is known as a "diverter," a player in the little-known but large gray market in which consumer goods are bought and sold in channels unauthorized by manufacturers. Diversion is not necessarily illegal. But the way Wein Reis did it was fraud, prosecutors allege.”

“For sheer dollar damages, her alleged thievery cannot come close to matching that of Bernard Madoff …But what she is accused of doing was fabulously brazen; she had the temerity to sting some of the world's biggest corporations -- not just once, but again and again.”

What struck me was a) the amount of hard work and coordination that went into the enterprise and b) Dina Wein Reis’s willingness to court publicity of her personal life. Prior to the legal melt down, her lavishly furnished Manhattan townhouse was actually featured in Architectural Digest. Most people in her position would have shunned the daylight. (If you want to see over the top Manhattan kitsch in a way only a middle-class Jewish girl from Brooklyn could pull off, you really must check out the photos.)

The Fed’s have since raided the townhouse and seized most of her property. One FBI agent described her home as so full of bling and loot as, "King Tut's tomb." I'm not sure when her trial is scheduled, but you can purchase a copy of her fraud indictment on Amazon for approximately ten dollars. Some light reading to keep you entertained on your next flight.

-JP

(Photo Above- of Wein Reis by Fortune Magazine.)


Update from The New York Post, dated May 19, 2011-
NY socialite Dina Wein Reis pleads guilty to fraud charges
“A New York socialite pleaded guilty Thursday to a federal charge that she duped corporations out of millions of dollars. Dina Wein Reis, 47, softly answered, “Guilty,” when U.S. District Judge Jane Magnus-Stinson asked her how she pleaded to a charge of conspiracy to commit wire fraud.”


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iMBA Fall 2009 Residency

The fall Whitman iMBA residency was fun and it was great to see our Syracuse friends again.
(Snapshot left- initial reception at the Sheraton)

This semester we’re taking Managerial Accounting with Professor Alex Thevaranjan (who prefers to be called Coach T by graduate students); and Investment Analysis with Professor Ravi Shukla, an engineer by training but now a PHD in finance, who is very passionate about trying to make sense out of the randomness of the market.

Managerial Accounting is focused on internal information that facilitates decisions about the future. It uses projection tools to sift out relevant information and identify risk and return before decisions are made. (By contrast Financial Accounting is after the fact and aimed at telling a story to people outside the company, usually investors.)

The second course, Investment Analysis, deals with the analytical methods to portfolio management. It touches on the different approaches to investment- Ad hoc (intuition), Bigger Fool Theory, and systematic approaches. It also addresses the different asset classes and diversification methods. One of the interesting subjects we discussed during the residency was the way poor quality mortgage securities infiltrated the US economy and produced last years economic melt down.

On the first day of classes, the faculty announced some changes during a town hall meeting. Future residencies will be shorter by one day to lessen the burden of travel, and as a result, classes will be extended from 90 minutes to a full two hours per day. The other major change involves new students. Previously new students were only required to start together with Financial Accounting and Strategic Management during their first semester. After that, they were free to choose their classes based on preference and availability. Now the school will try to keep students together in a cohort group for a longer period (I think it’s the first three semesters).

Students near graduation will be allowed early registration, and additional courses may be added in May to facilitate areas of concentration.

The bad news announced was that costs are going to continue to go up, an average of six percent per semester, despite the current state of the economy. This was an issue as many students complained that their employers were no longer reimbursing their tuition, as companies cut back on benefits. We also noticed the iMBA group looked smaller, possibly due to job losses.

During our week in Syracuse, we visited all our regular haunts- Lake Onondaga, Joey’s Italian Restaurant, Kitty Hoynes Irish Pub; and visited a few new places. We drove up to Lake Ontario for the first time, went hiking at Highland State Park, ate clams at the Clam Bar (on Brewerton Road) and shopped at a charming farm market called Ontario Orchards (in Oswego).

I want to also express special thanks to Dennis Hay, of Joey’s Italian Restaurant. After a very favorable experience last year, we postponed our 19th wedding anniversary dinner by about a week in order to celebrate it at Joey’s. Once again, my wife had flowers waiting for her at the table, and once again we had a great flaming desert of strawberries cooked in brown sugar and butter, yum. Kudos to Joey’s.

John P.

Professor Alex Thevaranjan (PHD in accounting) and myself after class. (Professor Ravi Shukla is in the top photo, fourth from the left.)

Me, Sari and Craig at the Whitman iMBA town hall.

Sue by some flowers at Highland State Park.

At Kitty Hoynes Irish Pub after hiking all afternoon at Highland State Park.

Click here for more information on the Syracuse University Whitman School of Management iMBA program.

-JP