Philip’s Blog

I’m reading through the Bible in a year. Ok, let me rephrase that. I’m making a valiant effort to read the Bible in a year this year. I’m already behind (go figure, right?), but I’ve found myself increasingly more drawn and interested the more I consistently read. I read about Joseph today in Genesis (ch. 40-42). Everything from him being sold into slavery by his brothers, to being thrown into prison, to interpreting Pharoah’s dreams and finally being second-in-command over all of Egypt. Not only is it a fascinating story, but it’s pretty cool to think about how God’s plan unfolded throughout the story and ultimately how God took care of Joseph.

Things have been pretty crazy with school and starting to think about plans for when I graduate. I’m starting to entertain the thought of buying a house sometime this year, once I start my job and am living in Nashville. My original (and current) plan is to live with my brother and rent from him. But the housing market is so low and some of the houses that I’d be interested in buying are going for $90,000-$110,000. I definitely still have some researching and planning to do, but who knows – maybe i’ll be a first-time home owner in a year. With everything going on though, it’s hard to not sometimes get overwhelmed and to wonder how everything is going to work out. Reading from Genesis was good. It reminded me that God is sovereign and gracious to His people, and He has a much longer-term plan in mind than I could ever hope to plan or imagine.

Oswald Chamber’s My Utmost For His Highest reading for today:

DO YOU SEE YOUR CALLING?
“Separated unto the Gospel.” Romans 1:1

Our calling is not primarily to be holy men and women, but to be proclaimers of the Gospel of God. The one thing that is all important is that the Gospel of God should be realized as the abiding Reality. Reality is not human goodness, nor holiness, nor heaven, nor hell; but Redemption; and the need to perceive this is the most vital need of the Christian worker to-day. As workers we have to get used to the revelation that Redemption is the only Reality. Personal holiness is an effect, not a cause, and if we place our faith in human goodness, in the effect of Redemption, we shall go under when the test comes.

Paul did not say he separated himself, but – “when it pleased God who separated me. . .” Paul had not a hypersensitive interest in his own character. As long as our eyes are upon our own personal whiteness we shall never get near the reality of Redemption. Workers break down because their desire is for their own whiteness, and not for God. “Don’t ask me to come into contact with the rugged reality of Redemption on behalf of the filth of human life as it is; what I want is anything God can do for me to make me more desirable in my own eyes.” To talk in that way is a sign that the reality of the Gospel of God has not begun to touch me; there is no reckless abandon to God. God cannot deliver me while my interest is merely in my own character. Paul is unconscious of himself, he is recklessly abandoned, separated by God for one purpose – to proclaim the Gospel of God (cf. Rom. 9:3.)

Chapel yesterday consisted of an incredible talk given by Dr. Ward, followed by Chaplain Messner giving the announcement that the college would be officially closed at 11:45 a.m. due to the incoming snow/ice storm. Amazing. It started snowing around 12:00 p.m. and didn’t stop until well into the evening. Last night, everything froze over with about an inch or so of ice. The trees are covered with ice, and all students have been confined to campus for the next 24 hours.

It’s been a lot of fun. I spent a lot of yesterday and this morning taking pictures.. some of which will soon hopefully make it onto here. This morning, Mac hosted a pancake breakfast for any students on campus to raise money for Haiti. From 9:30 a.m. to 12:00 p.m., the RAs flipped pancakes – plain, banana, blueberry, chocolate chip, and whole wheat. I took over one of the RA’s positions for an hour or so. It was fun, and a lot of the students from campus came down to have pancakes and hang out. Pray for Haiti. I don’t know how much money we raised, but they need prayer. Tabitha Kapic was recently appointed the National Director of Medair, and they have been doing some great work down in Haiti. If anyone is looking for ways to donate money or time, let me know and I can point you in her direction.

I realized I hadn’t posted any pictures in a while, so I thought i’d throw up a few from last semester.

Mary Frances and Me

I’ve recently started reading Forbes magazine. It’s a magazine on business and financial news, stock market analysis, and technology & global headlines. It’s something I first picked up in the business department at Covenant. I read a recent article by Rich Karlgaard entitled “Why Growth Matters.” Although I don’t necessarily agree with everything the author is saying, I do think he makes some interesting points about why economic growth is so vital if our country is going to make it out of this recession. Karlgaard makes the point that GDP growth is, at best, an inaccurate number when taken by itself.  GDP doesn’t always accurately capture inflation, as well as the point that increased government spending (like the “Cash for Clunkers” program, etc.) can make GDP appear higher than is really evident by actual growth of the economy.

Another big point that Karlgaard makes is that President Obama’s push towards greater social equality, even if it sacrifices economic growth, is not as simple (or as attractive) as it may seem. Even if GDP’s growth rate were cut only by 1% (from 3% to 2%), the real effects would be much greater. It is “reducing the rate of expected growth by 33.3%, not 1%, and that reduction is palpable in the real economy.”  It has far-reaching consequences in not only the investment world, but also in increasing unemployment rates. Simultaneously, the higher tax rates (and consequently, higher tax receipts) that President Obama would like to implement wouldn’t necessarily bring in more government revenue. As Karlgaard points out, there “might be less [tax revenues] than if growth had occurred at 3% with the lower tax rates.” The best way to increase tax revenues is to first increase growth in the economy (Art Laffer’s economic theory, 1970s). Yet another problem with sacrificing economic growth for increased social equality is the “damage done to innovation and entrepreneurship.” When taxes are increased, the ability to research and develop new ideas is made harder. Innovations, inventions, and creativity are seemingly and effectively punished by making it more difficult to enter into these ventures. Karlgaard uses the example of social engineering in Europe. “European entrepreneurs are hampered by higher hurdles of social engineering: VAT taxes, union work rules, employee job security, etc.”

Real economic growth is “vital to the health of a society.” That is what should be our focus in reviving the economy – not multi-billion dollar bailouts and stimulus packages and higher tax rates which, in the end, do not really serve to fix the real problem.

Well, it’s here. Senior year with only a few months until graduation. It seems pretty unbelievable. I’ve loved being here at Covenant, and I wouldn’t trade my four years here for the world. But I’m definitely ready for the next stage of life. Let me rephrase that – i’m looking forward to the next stage of life. Whether or not i’m ready is a different question.

I’m taking a full load this semester – 20 credits. Here is a little bit of an overview of the courses i’m taking, for anyone who’s interested.

• Industrial Organization (ECO 330 – class on corporations/firms and how they interact with each other in the economy)
• Strategic Management (BUS 400 – discussing the differences between operational decisions and strategic decisions for higher management in various corporations and how those decisions affect those firms)
• Human Resource Management (BUS 320 – reaffirming people as a firm’s most valuable resource and how to manage them within a large corporation; work-life balance)
• Auditing (ACC 410 – discussing the details and processes involved with auditing a firm’s financial statements and internal controls; GAAP regulations and SOX compliance; Gleim CPA review)
• Corporate Financial Management (FIN 345 – the second semester of Corporate Finance; dealing with detailed discussions of how any given firm manages their assets, liabilities, and owner’s equity; creativity in financial management)
• Senior Integration Paper (SIP – BUS 492 – my topic is “Corporate Ethics and Values: Ethical Decision-Making for Management Accounting”; 25-30 page research paper)
• Advanced Accounting (ACC 4022 – through LSU correspondence, issues with mergers and acquisitions, governmental and international accounting, etc.)

For May term, I’m heading up to New York City with my accounting professor, Chris Dodson, and about 7 other business/finance students. Dodson is teaching an investments course to us, along with visits to many of the major investment, banking, and financial firms in the greater New York/D.C. area – hopefully the New York Stock Exchange, Goldman Sachs, the Deutsche Bank, the Federal Reserve Bank, Ernst and Young Headquarters, Morgan Stanley, J.P. Morgan, Bank of America, etc.

Big year. I’m graduating in May and starting my first full-time job sometime at the end of summer. Hard to believe.

Nothing quite like being rudely awoken at 6:30 in the morning. I must admit, its not my favorite thing to do.. especially when its below freezing outside and about 58 degrees in the house. I drove Bets up towards Nashville to take her car into the shop. The place opened at 7:30 a.m., so naturally, Bets wanted to be the first in line. It’s ok though, I got starbucks out of the deal.

I went downtown the other night to watch an NHL hockey game – the Nashville Predators vs. the Chicago Blackhawks. Ernst and Young has a reserved box at the Sommet Center where they often get free tickets to games and concerts. It was the second or third Predators game that i’ve been to. It was a lot of fun.

We passed the US Bank building where E&Y’s Nashville office is located – One Nashville Place.  Here are a couple pictures of where i’ll be working this next year.

One Nashville Place - E&Y Office

Nashville Skyline

I’m flying up to Vermont with Bets on Friday to go skiing with my aunt, uncle, and four little cousins. I’m really excited! I’ve never been skiing before – from what my uncle tells me, my youngest cousin Cote (6 or 7 years old) will be the one teaching me. The rumor is that he’s the fastest and best skiier of the family. It’s going to be about 4 degrees, and we’re going to be about a mile away from the Canadian border. I think we’re going to try and take a day trip over to Canada one day which will be awesome.

Home is great. I’ve spent most of the day today just relaxing, drinking good coffee with my mom and dad, writing emails, taking a hunter’s safety course online, watching Ice Age 3 with my little brothers, and just enjoying a break from school. It’s hard to believe i’m only a semester away from graduating.