Who Doesn't Want A Hot Air Balloon Ride?

Who Doesn't Want A Hot Air Balloon Ride?
It's one in a lifetime. Why not you?
Showing posts with label Aboard. Show all posts
Showing posts with label Aboard. Show all posts

Monday, August 17, 2009

All aboard for a hot-air balloon ride


If we're talking ourselves into a recovery, then so be it.

PERHAPS it's too soon to say the worst is over for the sharemarket but you'd never forgive me otherwise.

After all, the best part of a bull market is always the first few weeks.

Bull market? Already? Surely not.

But how else do you explain consumers, investors and even central banks becoming suddenly upbeat, egging each other on in a national mood swing apparently even more infectious than swine flu?

I'll have some of what they're having please. What's more, even normally reliable doomsayers have signed on.

The latest, brought to Australia last week by Treasury Asia Asset Management, is the Hong Kong-based uber bear Marc Faber ??? famous for his The Gloom, Boom & Doom Report, which is predominantly gloom with a good, or I should say bad, dash of doom while the boom is reserved for gold prices.

So does doom loom? Of course, or he wouldn't be Marc Faber, but it's in a form that you could come to like. He sees share prices rising an average 7 per cent to 8 per cent a year and by a lot more in emerging markets, even though "I'm ultra bearish about the world", predicting the mother of all crashes coming in the next five years.

Which would seem to put a cap on that 7 per cent to 8 per cent, only he sees future economic growth swinging between sudden surges and then busts thanks to the low interest rates and easy money policies of central banks around the world. But before year zero, share prices ??? or any other investment for that matter except government bonds which have to man the floodgates ??? must rise with all that liquidity being pumped into the global economy.

Rising commodity prices, a stronger dollar, surging share prices ??? you name it and it's part of a giant money bubble. They're all feeding each other so maybe it's more hot air balloon than bubble. Mind you, if we're talking ourselves into a recovery that's fine by me.

But maybe a money bubble isn't the only reason the sharemarket has jumped about 40 per cent since its March low.

It tracks the economy about a year in advance and, in putting the recovery in the early new year, its timing hasn't let it down.

As one engine conks out another fires up the economy. Just as the Government's cash splash is subsiding, its infrastructure spending takes over.

Ultra low interest rates are still doing their thing, especially for property prices, while the stronger dollar is pulling money into the country and keeping the banks profitable.

China is spending big again ??? possibly more in a speculative way rather than an economic frenzy but who's looking a gift dragon in the mouth? And even if that fizzles out, the US is forecast to recover later this year. Sure, the prices of exports have dropped but we're selling more.

As for jobs, on the whole bosses aren't hiring but they aren't firing either. Even the sharemarket is kicking in. Bubble or not, it's another confidence booster to pull the economy up. So you may as well go along for the ride, bumpy as it will be. Besides, a cash management trust earning 2 per cent ??? that 7 per cent a year ago looks positively generous ??? or about 4 per cent in an online account, won't make you rich after tax and inflation.

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Monday, July 20, 2009

Aboard a hot air balloon, let yourself be light


If hot air balloonists ever need a poster boy, they might want to call Tom Hamilton.

On flights, the lean 62-year-old often wears a pale blue shirt, leather gloves and the handlebar mustache he first grew when he was flying helicopters in the Army. He looks like a cross between a Roald Dahl character and the Marlboro Man.

Most locals don't notice Hamilton in the summer, however. They notice his balloons.

As the weather grows calm in the summer months, local balloon companies enter their busy season, taking hundreds of passengers aloft, dotting the sky above Snohomish County with rainbow-colored nylon pleasure crafts.

The reason for the trips is tied to the attraction of balloon flight, which can be a bit abstract. The word "magical" comes up a lot.

"It's certainly a very different perspective on the world," said Hamilton, pilot for the Airial Balloon Co. of Snohomish. "It's really just being suspended up there."

A dozen people came to experience that leisurely sense of suspension one Friday in late June.

The group gathered by 6 a.m. at the shared offices of Airial Balloon Co. and Balloon Depot. The two recreational balloon companies were once rivals, but now work side by side, launching from the same open fields at the same time.

Before taking off, the pilots stood outside, gauging the direction of the wind by watching a small black test balloon shoot into the bright blue sky.

"It looks pretty good this morning," Hamilton said. "Always subject to change, but it looks pretty good."

Drifting with the wind

Balloons fly by capturing a huge amount of hot air or in some cases a buoyant gas such as hydrogen.

The balloon used by Airial held 180,000 cubic feet of air, a building-sized bubble so light it offset the nearly 1-ton weight of the craft and its passengers.

The passengers for Airial Balloon Co. rode out to a Snohomish field in a van, where the crew slowly inflated its nine- story-tall balloon. After some safety reminders, everyone climbed into a sturdy rattan basket and Hamilton lifted off.

Since balloons drift with the wind, passengers didn't feel the breeze that pushed them along. Heat radiated off the burners, which also occasionally drowned out conversation with its dragon blasts. Below, passengers saw a green and yellow quilt of farmland and the silver ribbon of the Snohomish River.

"Things look so neat and tidy up here," said Elizabeth Balanko, 61, of Anacortes. "All laid out and organized."

Balloon Depot's own flight began shortly before Airial Balloon's. With both balloons in the air, the view became still more picturesque.

"It's kind of nice having another one to look at," said passenger Sonja Zimmer, 53, of Covington. "That's what we look like."

The balloons climbed into the air with ease. Moving side to side? That was a bit trickier. Balloons have no steering mechanism, one of the many reasons airplanes are a more popular means of travel.

Instead, balloons rely on wind currents to drift from Point A to Point Wherever. Since pilots can only control their vertical direction, they ascend or descend to catch those currents.

Ultimately, though, if the wind isn't blowing east, a balloon won't head east, and if the wind dies, the best pilot in the world will be stuck above a certain spot.

That can lead to some unexpected arrivals. Local companies require passengers to sign a liability waiver that includes a note about the potential for arrest from trespassing.

Granted, Hamilton said he has never heard of anyone actually being arrested. Marilyn Harvey, owner of the Airial Balloon Co., said homeowners are generally happy to see her balloons.

"Especially in the mornings," Harvey said. "Women will come out running in their bathrobes."

Since Hamilton determined the direction of the wind before launching, he had a decent idea which way his balloon would go: southward. Sure enough, the balloon drifted in that direction, slowly covering 5 miles of terrain.

Balloons have long captivated

Hamilton's passengers were taking their flight for different reasons. One married couple received a pair of tickets, which cost about $200 apiece, as a birthday present. Another two friends wanted to check off an item on their "bucket list," the experiences they hope to have in their lifetime.

Ballooning united the passengers in one big way, however. It grabbed everyone's imagination. That's hardly surprising; balloons have been impressing people for centuries.

A balloon made the first free-floating flight on Nov. 21, 1783, when two Frenchmen used a cotton balloon attached to a wicker basket to go up in front of an audience that included King Louis XVI and U.S. ambassador Benjamin Franklin.

Balloons still inspire people today. It's no surprise they appear in fantasies: "The Wizard of Oz," "Around the World in 80 Days" and, most recently, "Up," a Pixar movie that has made more than $260 million since May 29.

Mainstream attention like that can buoy the pastime, which, like other forms of air travel, can fall into a poor light following a highly publicized crash, said Glen Moyer, editor for Ballooning, the in-house magazine for the Balloon Federation of America.

"When there's good, high-profile coverage of the sport -- and especially this type of coverage, focused on the magic and the wonder, the fantasy of it all -- then you would expect to see an uptick in the business," he said.

The Federal Aviation Administration can't comment specifically on the safety of hot air balloons in comparison with airplanes or other forms of travel. However, the FAA said fatal ballooning accidents are rare, and that when balloons travel in favorable weather, they can be quite safe.

Flights take good weather

Waiting for good weather can take time. Wind at more than 11 mph, a low cloud ceiling or rain keeps local companies grounded, regardless of the number of passengers who want to take off.

The downside to that: Many flights are delayed by weather. Even in the summer, nearly half of the flights for local companies need to be rescheduled.

The upside: Most flights happen on nice days. This past spring, the dry spell allowed local companies to fly unusually often, with Airial taking more than 30 flights by July 1. Usually, it only makes 15 flights by then.

Weather also affects launch times. Morning flights are common, in part because that's when air patterns are the most stable.

On Hamilton's morning flight in June, he climbed to 2,200 feet, shooting a 20-foot flame into the balloon to reheat the air again and again. To the east, the Cascades were blanketed in a thick morning haze, and to the west, the Everett skyline jutted over Possession Sound.

Hamilton then dropped close to the trees along the Snohomish River. Hands shot out from the basket to touch the uppermost branches, a thrill generally reserved for birds.

After about an hour of flying, Hamilton began to descend toward a dirt field near Bob's Corn in Snohomish.

"I don't want to land yet," passenger Lorne Balanko, 66, said. "More hot air!"

The balloon neared the ground, and passengers bent their legs to brace for the light impact. A two-man chase crew trotted over, grabbing the basket as it jerked across the dirt, the balloon now catching the wind like a sail.

After the balloon deflated, passengers helped the crew fold it into a bag and then piled into a van to head back to the balloon office. On the drive, Hamilton discussed the history of ballooning, from that first French flight to the fictional one in "Up."

"You can tell," Sonja Zimmer said, "that man really loves what's he's doing."

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