Tag Archives: Steve Haberstroh

Roundup: OKA, Young Shoots, Safe Guns …

Posted on June 19, 2024 | 9 comments

For decades, Klein’s Department Store was a fixture at 44 Main Street.

Banana Republic lasted a couple of decades.

OKA didn’t even make their 2nd anniversary.

The British furniture and home accessories retailer moved in right before Christmas in 2022. It was their 3rd US store. And, they proudly proclaimed, “our flagship.”

Now they’re gone.

“Greenoaks42” posted on Reddit yesterday:

They charged me of +$700USD months ago for a lamp they never sent. Now they filed for chapter 7 bankruptcy.

Their website is gone. Phones disconnected. But they have the audacity to continue posting on social media.

They told me to wait for their bankruptcy rep to contact me about a refund “in due course.” Good riddance to unethical companies. I’m glad they’re gone from Westport.

Their website is non-functioning too.

“06880” could not contact anyone at OKA for information. Instead, we’ll offer this look back at their opening in Westport, less than 2 short years ago:

(Hat tip: Jonathan Alloy)

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Calling all student photographers!

The Westport Farmers’ Market’s Young Shoots Photography Contest, for students ages 5 to 18, begins Thursday.

The 8th annual event runs through August 3. Children and teenagers can demonstrate their love for local food — and their creative photo talents — to win cash prizes in 3 age categories, plus a chance to attend an art class at MoCA CT.

All photos must be taken at the Westport Farmers’ Market (Thursdays, 10 a.m. to 2 p.m., Imperial Avenue parking lot). It’s an amazing place, filled with food, plants, food trucks, entertainers, the farmers themselves, shoppers — everything a young photographer could hope to shoot.

Local artists will judge. Age groups are 5-9, 10-14 and 15-18. An exhibit at Gilbertie’s Herbs & Garden Center will showcase the winners.

The contest is sponsored by the Farmers’ Market, the Artists Collective of Westport, and the Drew Friedman Community Arts Center.

Click here for rules, registration and more information.

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Calling all runners!

Fleet Feet will once again sponsor the Westport Summer Series Races.

The weekly events — now in their 62nd year — are held Saturday mornings, at various locations. The first race (June 29) is 2.3 miles. They get longer each week. The final is 10 miles, on Labor Day weekend.

Click here to register, and for more information.

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Speaking of sports: Steve Haberstroh teed off at 5 a.m. yesterday, at Great River Golf Club in Milford.

The former member of Staples’ 1997 state champion golf team played 100 holes — an astonishing 5 1/2 rounds — to raise awareness and funds for ALS research.

He was honoring his mother, Patty Haberstroh, Westport’s beloved Human Services Department social worker who died of the disease last year.

Dan Orlovsky — a Westport resident, ESPN analyst and former NFL quarterback — played a few holes too. Today he’s in the Travelers ProAm. Not too shabby!

The ALS event included a reception, and live and silent auctions.

 Patty Habestroh

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The town may soon put the “play” in playground.

On June 24 (6 p.m., Zoom), the Planning & Zoning Commission will review a request to expand 2 existing play areas at Coleytown Elementary School.

It includes a 665 square foot expansion of the existing southern area with a new carousel, and a 1,050 square foot expansion of the western area with a swing.

Funds will come from the American Rescue Plan Act (ARPA).

Coleytown Elementary School, with existing play areas. (Drone photo/Brandon Malin)

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Congressman Jim Himes is a regular guest at Westport Rotary Club meetings.

Yesterday, he spoke mostly about the domestic environment. He said the main issue in the US today is the impact of social media, and the anger and rage between Americans with opposing views.

Himes said, “I don’t want my grandkids living as if we’re a third world country, where people are always fighting or verbally attacking one another.”  In the long term, he said, we “risk losing our self-confidence.”

He is deeply skeptical about how Americans seek their news sources. “With 500 channels anyone can tailor their own instincts about what news sources they select….If you elect someone bombastic, for instance, that’s the kind of government you’re really asking for.”

As for the Supreme Court, Himes favors 18-year term limits for justices.

Rep. Jim Himes (left) and Rotarian/RTM moderator Jeff Wieser, at yesterday’s Rotary Club meeting. (Hat tip and photo/Dave Matlow)

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Five years ago this month, Governor Lamont signed Ethan’s Law. It requires gun owners to safely and securely store their firearms — is named for a Guilford teenager killed by an unsecured weapon.

Staples High School students Aidan Lapatine and Logan Noorily mark the anniversary by bringing it to Westport’s attention.

In a letter last week to parents, signed by Superintendent of Schools Thomas Scarice and Police Chief Foti Koskinas, Aidan Lapatine and Logan Noorily — co-presidents of Staples Students Demand Action — highlighted the safe-gun legislation. awareness about local and national gun storage laws.

The students’ next steps include sharing the message with nearby towns.

“Members of SDA are committed to preventing gun violence,” Aidan says.

“Our safe storage campaign aims to educate parents and students on the risks associated with unsecured firearms. Over 75% of firearms used in youth suicide attempts and unintentional injuries originate from the residences of the victim, a relative or friend.”

Logan adds, “As students deeply concerned about school safety, we believe that impactful change can begin on a local level. Promoting safe storage is simply common sense.”

In addition, the Staples SDA is distributing gun locks, and engaging in grassroots lobbying to encourage lawmakers to support legislation to expand secure storage or child-access prevention laws beyond the 26 states that currently have laws or practices in place. Social studies teacher Cathy Schager is the club advisor.

For more information on firearm safety, click here.

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This flag flies outside Riverside Barber Shop, where Treadwell/Riverside/ Saugatuck Avenue intersection.

(Photo/Ed Simek)

It’s clever.

And also probably very illegal.

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The Saugatuck Rowing Club junior rowing program had a very successful showing at the recent USRowing Youth Nationals regatta in Sarasota, Florida.

SRC sent a club record 96 athletes to the event. Eight boats made the final. 

The women’s U17 4+ A boat, including Westporters Luka Kuokalas, Annie Bowman, Ashlyn Frey and Olivia Saw won gold. This was the 4th national title in a row for that race.

The men’s U17 8+ boat, with Westporter’s Elena Nasar, Daniel Arava, Jack Mello, Liam Wiegand and Alex Proctor (Westport), placed third, just one second behind historic rival RowAmerica Rye.

Next up for Saugatuck Rowing Club: the Henley Royal Regatta in London next month.

Women’s U17 4+ A boat (from left): left to right: Luka Kuokalas, Olivia Saw, Ashlyn Frey, Annie Bowman, Mackenzie Fosdick. All but Mackenzie are from Westport.

Men’s U-17 8+ boat (from left): Coach Alex Vogt, Samuel Turok, Alex Proctor, Liam Wiegand, Jack Mello, Elena Nasar, Henry Basham, Gavin Remley, Will Firmender, Daniel Arava.

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Nature can be a dog-eat-dog world.

Or bird-eat-blueberry, as today’s “Westport … Naturally” image shows.

(Photo/Tracy Porosoff)

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And finally … in honor of Juneteenth:

(Whether you’ve been here long enough to remember Klein’s, or arrived after OKA opened, “06880” is your place for hyper-local news. And everyone can click here to support our work. Thank you!)

9 Comments

Posted in Local business, Politics, Sports

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The Day Steve Haberstroh Had Warren Buffett — And Charlie Munger’s — Ear

Posted on November 29, 2023 | 6 comments

The death yesterday of Charles Munger — Warren Buffett’s longtime #2 man — at 99 years old spurred memories of the one time they appeared in “06880.”

It was May 10, 2017. Here is that story:

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Steve Haberstroh is a 2000 Staples High School grad, and former basketball star. Today he’s managing director at Westport-based CastleKeep Investment Advisors. He just returned from Warren Buffett’s annual meeting in Omaha.

Over 40,000 shareholders gather at the “Woodstock for Capitalists.” But Haberstroh was more than just an attendee. His name was called — and Buffett spent 8 minutes answering his question. Let the Westporter tell the story:

Every February, Buffett publishes a Letter to Shareholders. He does a magical job of describing the year for Berkshire Hathaway. He also addresses social, political or other financial-related themes each year. It is a must read for financial types and casual investors.

This year, The Oracle of Omaha took on the fees charged by the hedge fund industry. He believes they charge far too much. The same is true for what Buffett calls “financial helpers”: those who manage investment funds, many of whom have the objective of “beating the market.”

I work for our family wealth management and investment firm in Westport. I also own a small amount of Berkshire Hathaway stock. Many of our clients own shares as well.

We are not a hedge fund. Nor do clients expect their portfolios to outpace the S&P 500 each year. However, we do charge a fee to deliver holistic wealth management advice, so I suppose Buffett would put us in the “financial helper” category.

I did not take offense at his comments, which were directed more toward hedge funds. But I needed to react.

I took Buffett up on the offer in his letter, and submitted a question. I hoped it would be chosen from thousands of entries to be read at the shareholder meeting.  I wrote:

You made it very clear in your annual letter that you think the hedge-fund compensation scheme of  “2 and 20” generally does not work well for the funds’ investors. In the past, you have questioned whether investors should pay “financial helpers” as much as they do.

But “financial helpers” can create tremendous value for those they “help.” For instance, in nearly every annual letter you describe how valuable Charlie Munger’s advice and counsel has been to you and, in turn to the incredible rise in Berkshire’s value over time.

Given that, would you be willing to pay the industry-standard “financial helper” fee of 1%-on-assets to Charlie. Or would you perhaps even consider “2 and 20” for him? (Click here for more details.)

Berkshire Hathaway owns Heinz. Steve Haberstroh is on the left.

Berkshire Hathaway has over 60 subsidiaries, including Benjamin Moore, Duracell, Dairy Queen, Fruit of the Loom, GEICO, Kraft-Heinz, Net Jets and See’s Candies.

The company also owns large stakes in publicly traded companies, including American Express, Apple, IBM, Delta, Apple and Wells Fargo.

In Omaha, the thousands of us can purchase everything from underwear to ice cream, car insurance to million-dollar diamond rings, all at shareholder discount. I saved nearly $1,000 on my car insurance with GEICO while there. But I also spent a penny or two.

The main attraction is Saturday. Shareholders descend upon the Century Link Sports Arena for a 7-hour Q&A with 86-year-old Warren and his 93-year-old co-chair, Charlie Munger. Folks lined up at 2 a.m. for the 8:30 start.

Steve Haberstroh and his wife Erin, in the Omaha arena.

Nearly 3 hours into the meeting, I expected Buffett would announce lunch time. But suddenly he said, ”The next question comes from shareholder Steve Haberstroh…”

First, my heart skipped a beat. Second, I could not tame my inner millennial. I grabbed my iPhone to record what came next.

The crowd chuckled at the “Would you consider paying Charlie…” punch line. Then Buffett responded.

The next 8 minutes were a blur.  I felt shock, pride and fear.

The fear came early in Buffett’s response. He said, “it’s just not a good question to ask.”

Despite that, his lengthy response indicated otherwise. He broached the subject again toward the end of the meeting, so maybe I was on to something.

Warren Buffett (right) and Charlie Munger.

His basic take was, indeed, he would pay Charlie 1% per year or “2 and 20,” but who wouldn’t? He likened the premise to asking if the Red Sox would like to go back and reverse their decision to trade Babe Ruth away to the Yankees.

Of course Munger is worth it. But Buffett also spent a good part of the response detailing his view that hedge funds, in aggregate, are not worth the fees they charge. He cited many examples and metaphors (including the value obstetricians provide), until Munger ended the discussion with, “I think you’ve beaten on them (hedge fund industry) enough!” (Click here for a video of the question, and Buffett’s full response.)

Just like that, my 8 minutes of fame was up. That is, until Bloomberg, the Wall Street, Fox Business — and now “068880” — picked up the story!

I will never forget the experience. And I will try to apply and adopt several of the lessons I learned during the weekend.

But I do have one bone to pick with the Oracle of Omaha. As I learned way back in Coleytown Elementary School: Mr. Buffett, there is no such thing as a bad question!

(Here’s more financial advice: Invest in hyper-local journalism! Please click here to support “06880.” Thank you!)

6 Comments

Posted in Economy, Local business

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Haberstrohs Help ALS Take Over Times Square

Posted on December 17, 2019 | 4 comments

Two years ago, Patty Haberstroh was diagnosed with ALS.

She did not take the news lying down.

Neither did her family.

Together they embarked on the #ALSPepperChallenge. Across the country, people — from national celebrities like Shaquille O’Neal, Charles Barkley and Dan Le Batard to local ones like the Staples High School principal and first selectman — ate habaneros and jalapeños, raising nearly a million dollars to fight what is also called Lou Gehrig’s Disease.

In addition, 2 of Patty’s sons — Chuck and Steve — joined the IAmALS advisory board.

This morning, they rose early. With their friends — current and former Westporters Chris Aitkin, Matt Cook, Ben Erwin, Chris Kenyon, Steve O’Dell, Stacy Rosenthal and Raffi Tokatlian — they joined 150 others as IAmALS “took over” nearly a dozen billboards in Times Square.

Steve and Chuck Haberstroh, helping change the world for their mom.

Their messages brought attention to the fight — and spread the message that ALS research can also unlock critical breakthroughs for diseases like Alzheimer’s, Parkinson’s and multiple sclerosis.

Some of the messages were hopeful. Some were educational. Some were defiant.

All are crucial.

Bad weather kept Patty Haberstroh from attending the Times Square event this morning. Her husband — Parks & Recreation Commission chair Charlie Haberstroh — and daughter Kim watched the livestream at home. So did their son Tom, in Charlotte, North Carolina with his family.

4 Comments

Posted in Organizations, People

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How You Gonna Keep ‘Em Down On The Farm? ALS Pepper Challenge Spreads To WTF

Posted on February 12, 2018 | 2 comments

The Haberstroh family’s #ALSPepperChallenge has spread all over the country.

But right here in Westport, it’s bearing particular fruit.

The latest group to raise money for research into the devastating disease — in honor of Department of Human Services program specialist Patty Haberstroh — is Wakeman Town Farm.

Challenged by Parks & Rec — whose commission chairman is Patty’s husband, Charlie — Liz Milwe and Christy Colasurdo decided to be creative.

Taking her cue from “Rapper’s Delight,” Christy wrote lyrics. Corey Thomas — WTF’s talented steward — showed his versatility as the rapper.

The video was filmed yesterday at the farm, after their annual team retreat. It’s already been viewed over 450 times on Instagram, and 400 times on Facebook.

Wakeman Town Farm was not the only organization in town taking the hot pepper challenge yesterday. Staples High School’s boys basketball team did the same — and were inspired by a visit from both Patty and Steve Haberstroh, a former Wrecker hoops star (and Patty and Charlie’s son).

Haberstroh noted that Jon Walker — a 1988 Staples grad, and another famed Wrecker basketball player — died last year of ALS.

Coach Colin Devine (far left) and members of the Staples High School boys basketball team take the #ALSPepperChallenge yesterday.

The Haberstrohs’ challenge has raised nearly $220,000 so far. That includes a $100,000 anonymous donation. Another $250,000 anonymous pledge is expected this week.

(Click here for the Haberstrohs’ hot pepper challenge donation page.)

2 Comments

Posted in Environment, Organizations, People, Sports, Staples HS

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Steve Haberstroh Has Warren Buffett’s Ear

Posted on May 10, 2017 | 4 comments

Steve Haberstroh is a 2000 Staples High School grad, and former basketball star. Today he’s managing director at Westport-based CastleKeep Investment Advisors. He just returned from Warren Buffett’s annual meeting in Omaha.

Over 40,000 shareholders gather at the “Woodstock for Capitalists.” But Haberstroh was more than just an attendee. His name was called — and Buffett spent 8 minutes answering his question. Let the Westporter tell the story:

Every February, Buffett publishes a Letter to Shareholders. He does a magical job of describing the year for Berkshire Hathaway. He also addresses social, political or other financial-related themes each year. It is a must read for financial types and casual investors.

This year, The Oracle of Omaha took on the fees charged by the hedge fund industry. He believes they charge far too much. The same is true for what Buffett calls “financial helpers”: those who manage investment funds, many of whom have the objective of “beating the market.”

I work for our family wealth management and investment firm in Westport. I also own a small amount of Berkshire Hathaway stock. Many of our clients own shares as well.

We are not a hedge fund. Nor do clients expect their portfolios to outpace the S&P 500 each year. However, we do charge a fee to deliver holistic wealth management advice, so I suppose Buffett would put us in the “financial helper” category.

I did not take offense at his comments, which were directed more toward hedge funds. But I needed to react.

I took Buffett up on the offer in his letter, and submitted a question. I hoped it would be chosen from thousands of entries to be read at the shareholder meeting.  I wrote:

You made it very clear in your annual letter that you think the hedge-fund compensation scheme of ‘2 and 20′ generally does not work well for the funds’ investors. In the past, you have questioned whether investors should pay ‘financial helpers’ as much as they do.  But ‘financial helpers’ can create tremendous value for those they ‘help.’ For instance, in nearly every annual letter you describe how valuable Charlie Munger’s advice and counsel has been to you and, in turn to the incredible rise in Berkshire’s value over time. Given that, would you be willing to pay the industry-standard ‘financial helper’ fee of 1%-on-assets to Charlie. Or would you perhaps even consider ‘2 and 20’ for him? (Click here for more details.)

Berkshire Hathaway owns Heinz. Steve Haberstroh is on the left.

Berkshire Hathaway has over 60 subsidiaries, including Benjamin Moore, Duracell, Dairy Queen, Fruit of the Loom, GEICO, Kraft-Heinz, Net Jets and See’s Candies.

The company also owns large stakes in publicly traded companies, including American Express, Apple, IBM, Delta, Apple and Wells Fargo.

In Omaha, the thousands of us can purchase everything from underwear to ice cream, car insurance to million-dollar diamond rings, all at shareholder discount. I saved nearly $1,000 on my car insurance with GEICO while there. But I also spent a penny or two.

The main attraction is Saturday. Shareholders descend upon the Century Link Sports Arena for a 7-hour Q&A with 86-year-old Warren and his 93-year-old co-chair, Charlie Munger. Folks lined up at 2 a.m. for the 8:30 start.

Steve Haberstroh and his wife Erin, in the Omaha arena.

Nearly 3 hours into the meeting, I expected Buffett would announce lunch time. But suddenly he said, ”The next question comes from shareholder Steve Haberstroh…”

First, my heart skipped a beat. Second, I could not tame my inner millennial. I grabbed my iPhone to record what came next.

The crowd chuckled at the “Would you consider paying Charlie…” punch line. Then Buffett responded.

The next 8 minutes were a blur.  I felt shock, pride and fear.

The fear came early in Buffett’s response. He said, “it’s just not a good question to ask.”

Despite that, his lengthy response indicated otherwise. He broached the subject again toward the end of the meeting, so maybe I was on to something.

Warren Buffett (right) and Charlie Munger.

His basic take was, indeed, he would pay Charlie 1% per year or “2 and 20,” but who wouldn’t? He likened the premise to asking if the Red Sox would like to go back and reverse their decision to trade Babe Ruth away to the Yankees.

Of course Munger is worth it. But Buffett also spent a good part of the response detailing his view that hedge funds, in aggregate, are not worth the fees they charge. He cited many examples and metaphors (including the value obstetricians provide), until Munger ended the discussion with, “I think you’ve beaten on them (hedge fund industry) enough!” (Click here for a video of the question, and Buffett’s full response.)

Just like that, my 8 minutes of fame was up. That is, until Bloomberg, the Wall Street, Fox Business — and now “068880” — picked up the story!

I will never forget the experience. And I will try to apply and adopt several of the lessons I learned during the weekend.

But I do have one bone to pick with the Oracle of Omaha. As I learned way back in Coleytown Elementary School: Mr. Buffett, there is no such thing as a bad question!

(For more takeaways, anecdotes and insights, email steve@castlekeepadvisors.com)

4 Comments

Posted in Economy, Local business, People, Staples HS

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