Daily Archives: August 14, 2005

Getto on Monroe Street’s Papa Phil’s

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Dennis Getto:

But in two visits we found a lot of things to like at Papa Phil’s.

I’ve always been a fan of pasta with white clam sauce ($12.95). And every version I’ve had of the dish has usually included clams, butter, garlic, white wine and oregano. Papa Phil’s rendition had all of those things, with a few spoonfuls of cream added. It’s a variation that’s served in some parts of Italy and it worked very well. That cream gave the sauce a satiny rich backdrop against which the flavors of clam, spices and wine each made notable appearances.

Most of the pasta dishes at Papa Phil’s allow patrons to pick their fresh-made pastas. I chose linguine for the clam sauce and didn’t leave a single noodle fragment on my plate.

I’ve been a few times and agree with Getto that the pasta sauce is quite good. Well worth a visit. Map.

Is Oil A Bubble?

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Barry Ritholtz:

My B-in-L Bob, a very senior BP exec (now retired), is the one who initiates the “Oil is a bubble” discussion. All the inflation adjusted charts seem to only go back to include the 1970s — and that’s not far enough to show the true price trend of oil. Bob argues that Oil has been in a very long downtrend, and the 1970s price spike was an aberration. So too, the 2003-05 run up. A longer, inflation adjusted chart would reveal that the present spike is aberrational, and unlikely to be sustainable. I am somewhat incredulous of this claim.

His point however, is well taken. While he is expecting an eventual mean reversion, simply base dupon price, I have a similar expectation based upon market cycles. The next recession (there’s always a next recession, just as there’s always a next recovery) will see reduced demand for Oil, and that will allow prices to fall.

Businesses Fight Wisconsin’s “Unlimited” Jury Awards

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JR Ross:

Businesses are preparing to launch a $2 million campaign to fight a series of state Supreme Court rulings they fear are making Wisconsin an easier place to sue doctors and manufacturers.

They want lawmakers to counter some of the rulings with legislation, and, they say, they want to educate voters on what they calls one justice’s “votes in support of frivolous lawsuits.”

Wisconsin implemented several laws in the mid-1990s in an attempt to limit jury awards for such non-economic damages as pain and suffering in malpractice and liability cases.

But last month, the state Supreme Court threw out the limits on medical malpractice awards. The next day, it cleared the way for a Milwaukee teen to sue several makers of a lead paint pigment his attorneys claim made him mentally retarded – even though they can’t prove the manufactures had any ties to the paint that may have sickened him.