I remember when I first got into the aviation insurance business back in the early 1970s. Being in Michigan we had a lot of auto workers who were making good money and had disposable income to spare. A new Cessna 172 went for under $ 30,000 and lots of them got sold to the GM workers here in mid-Michigan. It seemed like there would be no end to airplanes and automobiles.
My how 30 years has changed our industry. Who would have believed the price of airplanes today back then? And as more and more auto workers and workers for auto suppliers disappear so do the sales of aircraft. From my perspective it seems to me that auto workers and workers for auto supply companies provided the engine that made our economy grow.
As many of the political pundits point out Michigan has been in a one-state depression for a number of years now, and our Governor keeps raising taxes in order to stave off even further reductions in revenue for the state. Unfortunately it is like a downward spiral, as taxes rise revenue falls so our state government raises taxes again.
I don't think even an auto company bailout plan is going to change things much in the near term. To many of us it seems like we are hanging on by our fingernails hoping against hope no more disasters befall us. And now the rest of the country seems poised to join us.
Oh how I miss the 1970s!!
Until next time keep your wings straight and level Hersch!
Impressions of a Pilot
Flight is freedom in its purest form,
To dance with the clouds which follow a storm;
To roll and glide, to wheel and spin,
To feel the joy that swells within;
To leave the earth with its troubles and fly,
And know the warmth of a clear spring sky;
Then back to earth at the end of a day,
Released from the tensions which melted away.
Should my end come while I am in flight,
Whether brightest day or darkest night;
Spare me your pity and shrug off the pain,
Secure in the knowledge that I'd do it again;
For each of us is created to die,
And within me I know,
I was born to fly.
— Gary Claud Stokor