March 18, 2024
Quote of the Day
When dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion.
– Dale Carnegie
This Day in History
March 18, 1933: Studebaker goes bankrupt. On this day in 1933, American automaker Studebaker, then heavily in debt, goes into receivership. The company’s president, Albert Erskine, resigned and later that year died by suicide. Studebaker eventually rebounded from its financial troubles, only to shut down the assembly line and transition out of the automobile business in 1966.
The origins of the Studebaker Corporation date back to 1852, when brothers Henry and Clement Studebaker opened a blacksmith shop in South Bend, Indiana. Studebaker eventually became a leading manufacturer of horse-drawn wagons and supplied wagons to the U.S. Army during the Civil War. Around the turn of the century, the company entered America’s burgeoning auto industry, launching an electric car in 1902 and a gas-powered vehicle two years later that was marketed under the name Studebaker-Garford. After partnering with other automakers, Studebaker began selling gas-powered cars under its own name in 1913, while continuing to make wagons until 1920.
Albert Erskine (1871–1933) assumed the top job at Studebaker in 1915. Under his leadership, the company acquired luxury automaker Pierce-Arrow in the late 1920s and launched the affordably priced but short-lived Erskine and Rockne lines (the latter named for the famous University of Notre Dame football coach. (Before his death in a plane crash in 1931, Studebaker paid Rockne to give talks at auto conventions and dealership events). During the early 1930s, Studebaker was hit hard by the Great Depression and in March 1933 it was forced into bankruptcy.
New management got the company back on track, dropping the Rockne brand in July 1933 and selling Pierce-Arrow, among other consolidation moves. In January 1935, the new Studebaker Corporation was incorporated. In the late 1930s, the French-born industrial designer Raymond Loewy began working for Studebaker. There, he created iconic and popular models including the bullet-nosed 1953 Starliner and Starlight coupes and the 1963 Avanti sports coupe.
By the mid-1950s, Studebaker, which didn’t have the resources of its Big Three competitors, had merged with automaker Packard and was again facing financial troubles. By the late 1950s, the Packard brand was dropped. In December 1963, Studebaker shuttered its South Bend plant, ending the production of its cars and trucks in America. The company’s Hamilton, Ontario, facilities remained in operation until March 1966, when Studebaker shut its doors for the final time after 114 years in business.
Ojai Weather
Sunny – High 76 / Low 39
Total rainfall for the season – 30.29 inches
Lake Casitas water capacity – 92.0% (up from 91.6%)
Monday, March 18, 2024
10:35 a.m.
One new listing has come to the market since Friday:
(This was recently on the market in January, but did not sell at that time)
I took a drive past Lake Casitas on Sunday and took the photo above. For the first time in probably 12 years, the “island” that was in the middle is now gone. I appreciate how the two trees in the foreground are still hanging in there. I can imagine the conversation between them back in 2012:
Tree #1: “Let’s root here.”
Tree #2: “You don’t think this area is prone to flooding?”
Tree #1: “Nah, we should be good. That’s what flood insurance is for.”
[12 years later…]
Tree #2: “I told you this was gonna be a problem!”
Tree #1: “Nag, nag, nag…”
Pic of the Day
Friday, March 15, 2024
10:50 a.m.
There are three new listings on the market:
413 Crestview Drive – $1,325,000
Previous “coming soon” listings now on the market:
Here’s the list of things to do in Ojai; have a great weekend!
Pic of the Day
Thursday, March 14, 2024
1:00 p.m.
There are seven new or “coming soon” listing on the market:
1655 Foothill Road – $2,500,000
413 Vallerio Avenue – $899,000
1975 Maricopa Highway #9 – $275,000
12055 Sulphur Mountain Road – $5,550,000 (coming soon, 3/21)
(This was recently on the market in December, but did not sell at that time.)
Prior “coming soon” listings – now on the market:
Recently cancelled, withdrawn, or expired listings – back on the market as new:
- 1068 Cuyama Road – $2,200,000 (this recently expired on 3/7/24)
Pic of the Day
Wednesday, March 13, 2024
11:45 a.m.
There is a new “coming soon” listing on the market:
276 Avenida de la Vereda – $1,698,000
Pic of the Day
Tuesday, March 12, 2024
11:00 a.m.
There is a new listing on the market:
(This listing is a business opportunity only, not for the actual property itself.)
Pic of the Day
Monday, March 11, 2024
3:45 p.m.
No new listings have come to the market since Friday.
Pic of the Day
Friday, March 8, 2024
2:25 p.m.
There are three new listings on the market:
901 Grandview Avenue – $1,250,000
630 Los Alamos Drive – $1,400,000
Here’s a quick update on interest rates:
30-yr fixed: 6.85%
15-yr fixed: 6.39%
30-yr Jumbo: 7.22%
30-yr FHA: 6.38%
30-yr VA: 6.40%
Here’s the list of things to do in Ojai over the next week. Have a beautiful weekend!
Pic of the Day
Thursday, March 7, 2024
9:50 a.m.
There is a new “coming soon’ listing on the market:
910 Spring Street – $995,000 (coming soon, 3/27)
Pic of the Day
Wednesday, March 6, 2024
10:50 a.m.
There is a new listing on the market:
8434 Ojai Santa Paula Road – $50,000,000
(This was last on the market on 10/4/23, then listed at $65,000,000)
Pic of the Day
Monday, March 4, 2024
12:10 p.m.
There are two new “coming soon” listings on the market:
213 Vallerio Avenue – $1,200,000 (coming soon, 3/15)
1202 Loma Drive #110 – $425,000 (coming soon, 3/22)
Prior “coming soon” listings, now on the market:
Pic of the Day
Friday, March 1, 2024
12:30 p.m.
There are six new listings on the market:
11966 N. Ventura Avenue – $1,125,000
605 Country Club Drive – $4,250,000
313 Raymond Street – $1,250,000
1944 Country Place – $1,260,000
Recently cancelled, withdrawn, or expired listings – back on the market as new:
- 431 Montana Circle – $4,750,000 (this was recently cancelled on 2/8/24).
Here’s the list of things to do in Ojai – have a nice weekend!
Pic of the Day