Former Buckeye running back and 1995 Heisman Trophy winner Eddie George will be inducted into the College Football Hall of Fame. The announcement was made Monday on ESPN’s “College Football Live.” The rest of the class, which will include 14 former players and two former coaches, will be announced today. Former Michigan coach Lloyd Carr would be inducted into the College Football Hall of Fame, The Detroit Free Press reported Saturday. Carr became Michigan’s coach in 1995, after serving seven seasons as the Wolverines’ defensive coordinator. During his career at Ohio State, George was 1-3 against Michigan. Carr was 6-7 against the Buckeyes during his head-coaching tenure at Michigan. Other Buckeyes on the ballot who could be inducted include former offensive tackle Dave Foley and former fullback Jim Otis. Both are former first-team All-Americans and were members of OSU’s 1968 team that went undefeated and earned the 1968 National Championship. Foley started at offensive tackle for three years under coach Woody Hayes, and was selected in the first round of the 1969 NFL draft by the New York Jets. Otis led the team in rushing during all three of his seasons with the Buckeyes. He spent nine seasons in the NFL and was selected to the Pro Bowl in 1975 as a member of the St. Louis Cardinals. Since George won the Heisman trophy in 1995, only former OSU quarterback Troy Smith has won the award while wearing Scarlet and Gray, in 2006. Before George, running back Archie Griffin was the last Buckeye to win the Heisman trophy, earning the award in 1974 and 1975. In 1995, George set records for most rushing yards in a season (1,927), most games with at least 100 yards (12) and most rushing yards in a game (314) during a 41-3 victory against Illinois. George’s No. 27 is retired at OSU. Attempts for comment from George were not immediately returned.
The Ohio Supreme Court’s Disciplinary Counsel accused Columbus attorney Christopher Cicero of misconduct and filed a complaint Monday. The accusation relates to emails Cicero sent to Jim Tressel about Ohio State football players’ involvement with tattoo parlor owner Eddie Rife. The potential misconduct occurred when Cicero relayed confidential information from Rife, a prospective client, who met with Cicero on April 2, 2010, according to the documents released by the Disciplinary Counsel. This was the day after federal officials raided Rife’s residence as part of a criminal drug trafficking investigation and obtained several pieces of OSU football memorabilia. “During the meeting, Rife expressed his concern that their conversation would remain confidential,” the documents said. “(Cicero) assured Rife that everything Rife told (him) would remain confidential.” It was shortly after this meeting that Cicero notified Tressel about the players’ ventures with Rife, “divulging much of the information that Rife had told (Cicero) in confidence.” According to the documents, a second meeting between Rife and Cicero took place on April 15, 2010, where “Rife disclosed more information regarding his criminal case, the OSU memorabilia and his relationship to several OSU football players.” Without notifying Rife, Cicero sent two more emails to Tressel the following morning revealing much of what Rife had told him the day before, the documents said. Rife did not end up hiring Cicero to represent him in his criminal case, but according to the complaint, that does not exempt Cicero from being charged with misconduct. “Even when no client-lawyer relationship ensues, a lawyer who has had discussions with a prospective client shall not use or reveal any information learned in the consultation,” the documents said. Cicero did not immediately respond a request for comment.
Ohio State football coach Urban Meyer and OSU’s associate vice president and athletic director Gene Smith fired back Friday at in-conference criticism of the Buckeyes’ recruiting tactics. Meyer put the finishing touches his first OSU recruiting class Wednesday — a class rated No. 4 in the nation by Rivals.com. Several of the recruits that signed to play for Meyer had previously committed to other Big Ten teams, prompting criticism from Wisconsin coach Bret Bielema and Michigan State defensive coordinator Pat Narduzzi. Both Meyer and Smith defended the recruiting practices employed while assembling the Buckeyes’ newest class. During a National Signing Day press conference Wednesday, Bielema said that he thought Meyer’s staff had used illegal tactics to obtain recruits. Narduzzi spoke Monday of an unwritten agreement amongst Big Ten coaches, saying former OSU coach Jim Tressel and MSU coach Mark Dantonio would never call or talk to each other’s commitments. “People coach Dantonio knows well don’t come in and take players away,” Narduzzi said according to the Canton Repository. “When you do, you lose friendships over that.” In a Friday release, Smith condemned the use of the media to voice his concerns related to Big Ten football, though he did not specifically mention Bielema or Narduzzi. “I am disappointed that negative references have been made about our football coaches, and particularly head coach Urban Meyer regarding recruiting,” Smith said in the release. “In our league appropriate protocol, if you have concerns, is to share those concerns with your Athletic Director (AD). Then your AD will make the determination on the appropriate communication from that point forward. The ADs in our league are professionals and communicate with each other extremely well. Urban Meyer and his staff have had a compliance conscience since they have arrived.” The OSU athletic department also released a statement on Meyer’s behalf in which the Buckeyes’ $4 million-dollar-per-year coach said that his staff was in compliance with recruiting rules. “I was pleased to take part in a productive, regularly scheduled meeting of the Big Ten Conference coaches today in Chicago. We had an opportunity to discuss a number of issues with each other and conference staff, including those that have arisen this week,” Meyer said in the release. “It should be noted that my coaching staff is in full compliance with our recruiting efforts, and no one on this staff did anything illegal or unethical. We will continue to comply with NCAA rules and recruit with relentless effort, especially the great state of Ohio.” Big Ten spokesman Scott Chipman declined to comment to The Lantern regarding the Friday coaches meeting. Northwestern coach Pat Fitzgerald, who chaired the Big Ten coaches meeting, told ESPN.com Friday that the meeting was “nothing but great dialogue.” “We understand what’s acceptable and what’s not acceptable in recruiting,” Fitzgerald told ESPN.com. “We also talked about regardless of what’s been reported, we agreed there’s been no basis for accusing any coaches of illegal or unethical recruiting. There’s been no gentleman’s agreement inhibiting recruitment of verbally committed players, but we’re going to do all of our recruiting based on respect for each other.” Meyer and the Buckeyes will pay visits to both MSU and Wisconsin during the 2012 season, on Sept. 29 in East Lansing, Mich., and Nov. 17 in Madison, Wis., respectively.
Chalk up the sixth and seventh different Buckeyes football players named to award watch lists this preseason. Redshirt senior linebacker Etienne Sabino was named to the Butkus Award watch list, an honor that highlights college football’s most outstanding linebacker. His teammate, junior wide receiver Corey “Philly” Brown, has been named to the Biletnikoff Award watch list, which recognizes the nation’s top wide receiver. Sabino, who was named Ohio State’s Most Valuable Player in its 24-17 Gator Bowl loss to Florida, recorded 62 tackles and 6.5 tackles for loss in 2011. Sabino is one of three OSU players who will travel to Chicago for the 2012 Big Ten Media days on July 26 and 27. Meanwhile, on the other side of the ball, Brown’s 22 career grabs for 310 yards and two touchdowns at OSU leads all active Buckeye receivers for the most receptions and yards. Brown totaled 205 of those career yards last season on 14 catches. Additionally, three more football players were named to either their second, third or fourth award watch list after redshirt senior tight end Jake Stoneburner, senior defensive lineman John Simon, and junior defensive lineman Johnathan Hankins were named to college football’s Lombardi Award watch list, which honors the nation’s best lineman. Simon, who has also been named to the Nagurski Award, Bednarik Award and Lott IMPACT Award watch lists, made seven sacks and 16 tackles for loss in 2011. Like Sabino, the 2011 Associated Press All-American will be present at the 2012 Big Ten Media Days. His efforts in trenches, however, are not unaided. His defensive line comrade, Hankins, amassed 67 tackles and 11 tackles for loss last season. The junior has already been named to both the Bednarik Award and Outland Awards watch lists. Hankins was an honorable mention All-Big Ten selection in 2011. Stoneburner, the third Buckeye named to the Lombardi Award watch list, is one of eight tight ends selected to the honor’s watch list. It’s the second time the redshirt senior has been named to an award watch list this preseason – his first honor coming from the Mackey Award, which honors the nation’s best tight end. Stoneburner enters the 2012 season with 37 career catches for 445 receiving yards and nine touchdowns. Despite his placement on multiple award watch lists, though, he and redshirt senior offensive lineman Jack Mewhort are indefinitely suspended from the team after Shawnee Hills Police arrested Stoneburner and Mewhort for “obstructing official business” at about 2:30 a.m. June 2 by the Bogey Inn near Dublin, Ohio. Both, however, in addition to Simon, Hankins, Sabino and Brown, are expected to be large contributors to OSU coach Urban Meyer’s first season in Columbus.
Junior outside hitter Erin Sekinger (12) gets ready for a serve during a match against Michigan Sept. 27 at St. John Arena. OSU won, 3-1. Credit: Mark Batke / Lantern photographerThe upcoming schedule for Ohio State women’s volleyball is anything but orthodox.The matches are scheduled to start Wednesday as the No. 17 Buckeyes take on Northwestern in Evanston, Ill., kicking off a three game road trip.Coach Geoff Carlston said he sees the “weird” schedule as a blessing. The Buckeyes play three games over the course of seven days, contrary to their norm of lacing up for just two contests over the weekend.“It’s kind of nice actually that these last two weekends we played back-to-back against teams that had rest and days off,” he said.After a 2-4 start to Big Ten play, a different schedule is not the only change Carlston wants to see.“Really it’s about the offensive rhythm, finding a nice offensive rhythm and just getting up in our defensive energy, defensive attitude,” Carlston said.Since starting the season on a 13 game winning streak, OSU has lost four of its last five matches, including being swept by Michigan State, Purdue and Minnesota.Sophomore middle blocker Andrea Kacsits said she wants the team to bounce back and do more than just what gave it success at the start of the season.“It would say so much about us as a team if we were able to overcome this and be able to come out of it even stronger than we were to start preseason,” Kacsits said.Senior defensive specialist Julianne Mandolfo said part of returning to the team’s non-conference form will be eliminating mistakes.“Right now, I think we just need to become more knowledgeable about the game,” she said. “We’re making aggressive mistakes but some mistakes we’re making are just, the bonehead, dumb mistakes.”Mandolfo said since Big Ten play has started, the Buckeyes “just need wins.”Junior outside hitter Erin Sekinger said if the team wants to win, it will have to put recent struggles behind them.“(It’s important) not to hang our heads over the loss on the weekend,” she said. “We just need to make sure that we stay positive and look at this as a learning experience.”The match against Northwestern is set to be televised on the Big Ten Network, while an Oct. 23 date with Penn State will be broadcast on ESPN2.Carlston said he does not expect the televised play to effect his squad in any way.The Buckeyes are scheduled to return to St. John Arena Oct. 25 as they host No. 8 Nebraska.
In This Issue. * President calls for a strike. * Gold gets whacked again! * RBNZ meets tonight, is this Wheeler’s chance? * Mogambo calls me JMR Chuck! And, Now, Today’s Pfennig For Your Thoughts! 9/11, 12 years later. Good day. And A Wonderful Wednesday to you! It’s September 11. Our second day of infamy. Even 12 years later, the images are still fresh in our minds. I think about our “intervention” in the Middle East a lot, and often wonder if we had stayed out of it all, if we would have been left alone. But, that’s water under the bridge now, what’s done is done, let’s just hope and pray that we never experience an attack on our soil like that day 12 years ago, ever again! Well, the President “talked to us” last night. We’re you moved? The President told us that “acting against the Assad regime is in the U.S.’s national interest.” Well, at this point the vote in the House of Representatives has been delayed until we see what happens to Syria’s volley that they will comply with the request from Russia to hand over their chemical weapons. Let’s hope that all happens, and we can quit our saber rattling. At first last night, the dollar took off and rallied on the President’s speech. The reports this morning say the markets took what the President had to say as the strike was still on, and traded to safe havens accordingly. But then, the water temperature changed and all the risk asset bulls got back into the water, and this morning, we’re basically sitting where we left off yesterday afternoon. Gold really got whacked yesterday, and I have to ask the price manipulators this question. Do you really think the public is falling for this story of there being no need for safe havens and that’s why Gold’s price is falling? Because if you do believe that, you’ve got it all wrong! We all know exactly what’s going on here! We’ve read the Wikileaks cable, We’ve heard from former U.S. Treasury official, Paul Craig Roberts, and Chuck has described how if it were you’re job to defend the value of the dollar, and you saw Gold soaring in price, and everyone trading their dollars for Gold, what would you do? So, we get it! We just want it to stop! The Aussie dollar (A$) climbed above 93-cents yesterday, and remains there this morning. Yesterday it was the latest Consumer Confidence Index rising to a 3-year high that pushed the A$ higher, and today it should drift a bit, given that tonight Australia will print their latest Labor report. It is thought that the Labor report will be soft. But I have to say that given all the upside improvement in the data that’s printed lately, there could be a surprise in the Labor report this evening. That would go a long way toward providing more wind for the A$’s sails. Australia’s kissin’ Cousin across the Tasman, New Zealand will have the Reserve Bank of New Zealand (RBNZ) meet tonight. This could be the sounding board that RBNZ Gov. Wheeler is looking for to halt the rise in kiwi that we’ve seen lately. He’ll have to really take aim at kiwi to get that done, because I expect the RBNZ to keep rates unchanged, and keep their tightening bias in place. This what the markets expect, so by doing what they expect, there will be no bias to buy or sell kiwi. That’s where Wheeler might step in. So, watch for that tonight, and be careful out there! Did you hear what Jeffrey Gundlach, who manages $36 Billion in the DoubleLine Total Return Bond Fund said about what the Fed is doing? This is interesting. He said that, “U.S. Federal Reserve is making a big mistake in the way it ends its unprecedented asset-purchase program. We thought the Fed wouldn’t walk away from QE and would buy securities until targeted yields were reached like in Japan and Europe. Instead, the central bank is opting for a seat of the pants way of handling policy.” Chuck again. For someone that claims to have never liked QE to begin with, he sure sounds bitter that it’s ending, eh? For me, I never thought that monetizing our debt was the way out of the depression. But then, I’m not a Fed Head, and I didn’t have multiple years of economics education. Instead, I feared that by monetizing our debt (bond buying) that we had simply taken another step toward our turning Japanese. And then when we went back to the well, for two more rounds of bond buying, we were turning Japanese faster and faster. It will be interesting to see how this all plays out, eh? I truly believe that it won’t be pretty. Well. the last 3 months, have been good to a few currencies. which is strange given that it was just a little over 3 months ago that Big Ben Bernanke first uttered the “tapering” word. If you recall that time, the currencies and metals got whacked in one big swoop. But then, as things settled down in the days following, and more and more analysts came around to Chuck’s view, the currencies and metals began to rebound, and now, one week before the Fed meets to discuss tapering, it appears that the currencies just don’t care. Septaper or no Septaper doesn’t seem to be bothering the currencies. In fact in recent trading the direction of the currencies has been tied more closely to the goings on Syria than Septaper. So, let’s step back and think about this for a minute. We have the possibility of a diplomatic resolution in Syria, and the very small possibility of the Fed delaying tapering. That would be a perfect storm against the dollar folks. I think with everyone on the side of the ship that’s calling for Septaper, that the risk is there that the Fed delays the decision, basing that delay on the recent data. One of the better performing currencies in this time that we’re talking about has been the U.K. pound sterling. Pretty amazing to me that the pound can muster any liking to it, given the rot on the U.K. economic vine. But things have been looking up here, and recent data has been constructive. For example, yesterday, the U.K. printed their latest labor data, and this data continued the steady stream of better than expected reports. The Unemployment rate in the U.K. dropped to 7.7% from 7.8%. The Unemployment rate in the U.K. seems to be on a downward plane right now, so they’ve got that going for them. I would just caution anyone getting all lathered up for the pound right now. I would bet that soon Bank of England (BOE) members would come out with statements to slow the pound’s rise, for the BOE doesn’t want to let the cart get before the horse here. But you know me. I just wish Central Banks would just leave the currency’s value to the markets. We would all be better off if Central Banks got out of the “thinking they know better what the currency’s value should be, rather than the markets” frame of mind. And that goes both ways. I don’t like to see intervention, period! Just had to stop to sing along, very loud I might add, with The Righteous Brothers song: Unchained Melody. That song sends chills up my spine every time! OK. I’m back now! Both Chris and yours truly, met with some very nice customers yesterday that stopped by the office. The customer, who has been a Pfennig Reader for many years, asked me I still was in Norway’s corner like I’ve been for many years. Fair question. And the answer I gave was “yes”. Norway has underperformed, as the Central Bank struggles with the tug-o-war between cutting rates to promote growth, and keeping rates steady to combat a housing bubble. But with growth looking like it is recovering in the Eurozone, that should go a long way toward helping the Norwegian economy recover. And then the Norges Bank’s struggles will turn to whether they need to hike rates! The fundamentals of Norway remain among the best in the world, and when the markets figure out that Norway’s fundamentals aren’t the Eurozone’s fundamentals, things should look to change here for the krone. I received an email yesterday from the Mogambo Guru himself! WOW! And he referred to me as: Junior Mogambo Ranger (JMR) Chuck! He thanked me for mentioning the new desk reference book titled: Economica Mogambo. I simply went to Amazon and typed in: Mogambo Guru, but in case you want a link to take you right there, here you go! The Mogambo also thanked me for penning the Daily Pfennig, imparting wisdom in a deceptively easy-going style! Yes, my letter can’t express myself like the Mogambo can in his. So, read him for the expressive style, and me for the easy-going! There. sounds like a plan! And then the euro continues to inch higher week by week. The German elections will be held soon, and one would think that this would be weighing heavily on the euro, but it appears to not be such a problem for the single unit. I guess, because right now, it appears that the incumbent German Chancellor, Angela Merkel, will hold on. German borrowing costs have reached a 2-year high, as I reported to you last week, and this has gone a long way toward supporting the euro. I just think that the really bad stuff is in the euro’s rear view mirror now. No they aren’t out of the woods, but at least they’re driving in that direction! And the U.S. data cupboard is basically bare today, with just some mortgage applications and Wholesale inventories data to deal with. The Big Kahuna data print this week will be August Retail Sales on Friday. The Back to School sales should support Retail Sales for this report, so expect a bump up, at least that’s what the Butler Household Index (BHI) tells me. OK. Before I head to the Big Finish. I thought I would share a funny with you. OK, all of you heard about how John McCain was caught playing poker on his Smartphone during proceedings last week. Well, here’s Jay Leno with a different take. “Samsung has unveiled its new smartwatch. It will go on sale later this month in 140 countries. It’s a Smartphone wristwatch. Experts say this could revolutionize the way senators play poker at Senate hearings. “ For What It’s Worth. My friend, John Mauldin, has been talking about the new documentary called “Money For Nothing: Inside the Federal Reserve” for some time now, and last week it premiered. There was a short piece on the film in the Business Insider, that I found interesting so, here you go. “When you or I print money it’s called counterfeiting,” a commentator muses in a new documentary about the Federal Reserve. “When the Fed does it, it’s called monetary policy.” That documentary is Money For Nothing: Inside the Federal Reserve and that commentator was former St. Louis Fed Governor William Poole. Charting 100 years of Fed history, the film features an impressive collection of economic actors and thinkers: Paul Volcker, Janet Yellen, Jim Grant, Peter Atwater, John Mauldin, Barry Ritholtz, Gary Shilling, and others. It’s also narrated by the dulcet tones of Liev Schreiber. If Fahrenheit 9/11 was Michael Moore’s seminal repudiation of George W. Bush’s foreign policy, Money For Nothing is writer/director Jim Bruce’s similar critique of the history of the Federal Reserve.” Chuck again. Here’s the link should you want to read the full review. The original look behind the scenes of what the Fed was doing, was done by Bill Fleckenstein in his book: Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve. I’ve talked about this book for years now, and it’s still sold on Amazon, if you realize now that you should have read it the first time I talked about it 5 years ago! I think it is very important that people that invest money understand what the Fed does, can do, and doesn’t do, to affect their investments, good or bad. Maybe if everyone knew. To recap. The President talked to us last night in an attempt to convince us that a military strike on Syria was needed, and the currencies got sold. But then someone realized that the House had delayed their vote on the strike, and Syria accepted Russia’s plan to deal with this diplomatically, and the currency selling reversed, and we sit this morning where we left off yesterday afternoon. One week away from the Septaper announcement from the Fed, and the currencies don’t seem to care. What do they know that we don’t? Currencies today 9/11/13. American Style: A$ .9290, kiwi .8065, C$ .9670, euro 1.3260, sterling 1.5780, Swiss $1.07, . European Style: rand 9.9370, krone 5.9175, SEK 6.5405, forint 225.70, zloty 3.1885, koruna 19.43, RUB 32.82, yen 100.25, sing 1.2685, HKD 7.7545, INR 63.35, China 6.1601, pesos 13.08, BRL 2.2820, Dollar Index 81.80, Oil $107.73, 10-year 2.94%, Silver $23.04, Platinum $1,478.50, Palladium $702.13, and Gold. $1,361.57 That’s it for today. Congrats to the U.S. Men’s Soccer Team, they beat Mexico 2-0 last night and that win assured them a trip to the World Cup. Cardinals hold on to win last night, I was in bed by the 5th inning. UGH! I have 3 hours of Compliance Training today.. Talk about fingernails on a chalkboard to me! But it has to be done, so I carry on despite my total dislike of being in a room for 3 hours straight! Last night I was filling out the info for 40th H.S. reunion, and they asked what my best memories of H.S. were. Talk about drawing a blank! The only thing I could think of is that’s where I met the love of my life who turned out to be my future bride! And with that sappy stuff, I hope you have a Wonderful Wednesday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837