PATRICK WALSH (con't) drives Pat Creadon to WPWR and explains what happened in the pit that day; SLICES BILLBOARD and interviews with billboard painters BILL PRUSAK and DAVE RUBIN.
00:00Copy video clip URL Footage continues from tape 14093. Videographer Patrick Creadon in car with Patrick Walsh talking about Walsh’s day at the Chicago Board of Trade. Video drop outs. NO AUDIO.
00:21Copy video clip URL Audio turns on. Walsh says the day was a good business day with lots of action. The market was moving. He says an initial jobless claim was released by the US Government at 7:30am that morning announcing how many people claimed unemployment that week.
01:47Copy video clip URL Video drop outs. Stop/re-start digitizing. Walsh starts to continue talking about the economic release.
02:02Copy video clip URL B-roll of traffic on expressway.
02:16Copy video clip URL Walsh continues talking about the jobless claim released and how the economy is tracked by jobs. The claim released that morning projected unemployment up by 3,000. This expectation is looked for in the market. But soon after Walsh learned that an independent research organization predicted claims to be up 20,000. This significant change makes the market move many times.
06:02Copy video clip URL Video and audio drop outs. Walsh says that his role at the Board of Trade is a very small part of a bigger machine. The real players are the people who put their clients’ money on the line. Walsh facilitates those trades in and out of the pit. He’s starting to trade on his own and made 3 ticks today. Each tick is worth $31.25.
08:20Copy video clip URL Walsh talks about mathematician Leonardo Fibonacci’s theory that in nature every action has a reaction that comes in increments of about 38%, 50%, and 60%.
08:38Copy video clip URL Video drop outs. Stop/re-start digitizing. Walsh continues talking about Fibonacci’s theory and retracement. You take a move in the market and count how many ticks it moved then take about a 30% retracement of that move, a 50% retracement and about a 60% retracement of the move and combine them.
10:00Copy video clip URL Walsh comments that a lot of people in the pit use their gut to determine what and when to buy or sell.
12:23Copy video clip URL Video drop outs. Stop/re-start video. Walsh continues talking about buying and selling strategies.
14:00Copy video clip URL Walsh comments that this work is exciting for him, to get an idea about what to buy or sell, research it, and then get rewarded by making money on the deal. It is also an extremely horrible feeling to go through that process and lose money.
15:10Copy video clip URL Walsh talks about how rumors in the pit can affect quick buys or sells, the big time super players.
17:02Copy video clip URL Video drop outs. Stop/re-start digitizing. Walsh says he hopes to be a super player one day.
17:44Copy video clip URL B-roll of interior car, hands on the wheel, feet on the pedal.
19:01Copy video clip URL Video drop outs. Stop/re-start digitizing.
19:26Copy video clip URL New location. Videographer Patrick Creadon is at the base of a 130 foot pylon-style billboard. He calls up to the workers on top of the billboard putting up a sign. Videographer tells them he’s coming up and, with camera in hand, climbs the ladder 130 feet to the top.
20:43Copy video clip URL Video drop outs. Stop/re-start digitizing. Videographer stops in the middle of his ascent and looks around.
22:30Copy video clip URL At the first tier of the billboard sign, videographer looks around at the view of Chicago. He makes his way up another ladder to where the two workers are building the Chicago Slices billboard sign.
24:28Copy video clip URL Video drop outs. Stop/re-start digitizing. Videographer takes in the view of Chicago from the billboard.
25:30Copy video clip URL B-roll of Dave and Bill, the sign painters, nailing up long pieces of wood to the billboard. B-roll of the view of Chicago.
26:50Copy video clip URL Dave talks about the extension they are erecting. He says once he’s up this high he’s okay, but you don’t want to think about just how high up you are. Bill comments that he’s been a sign painter since 1977 and loves being up this high.
28:16Copy video clip URL Video drop outs. Stop/re-start digitizing. Bill says the first time he came up this high he froze with fear, but once he got used to it he was okay. He notes that they are up 130 feet.
29:00Copy video clip URL Bill says that it takes artistic talent to be a sign painter. He notes the he and Dave are picture painters. Some guys just paint letters. They are skilled at painting graphic images as well. He explains that the painters receive a scaled sketch of the artwork, make a cut out pattern of it, tack it up to the billboard and cover it with chalk, remove the cut out and paint the remaining chalk outline as though painting a stencil.
30:34Copy video clip URL Video drop outs. Stop/re-start digitizing. Bill says he enjoys being up high and painting the picture the most. Working on a low board is okay, but not as thrilling as being high. The highest he’s ever been working was about 18 stories from the ground, about 200 feet. He says they have safety lines and belts to use, but notes he’s not wearing his belt now because it gets in the way.
32:15Copy video clip URL Video drop outs. Stop/re-start digitizing. Bill tells videographer to turn off the camera. When videographer starts recording again he gives an audible note to the editor not to use the part of Bill saying he’s not wearing his safety belt.
33:06Copy video clip URL Bill says he was once an extra on The Love Boat TV show. His favorite cast member was Doc. He says he was on his honeymoon in Aruba and the show was shooting an episode there. Someone in casting was asking locals if they wanted to be extras. Bill recalled that the episode included JJ Walker and the guy who played Boss Hogg on the Dukes of Hazzard.
34:52Copy video clip URL Dave and Bill continue working on the billboard, nailing up 2×4 boards that will serve as the extension piece covered in plywood and painted to look like a construction barrier.
35:54Copy video clip URL Video drop outs. Stop/re-start digitizing. Bill says that sign painters are under-appreciated for the dangerous work they do and the skill it takes. He and Dave continue working. They explain their job as they go along. Bill says he signs every billboard he paints.
37:38Copy video clip URL B-roll Dave nailing in the 2×4. Dave says the best sign he ever painted was the sign at the Red Curves restaurant. It took him a week to do. This job on the Chicago Slices sign will take about 4 days.
39:59Copy video clip URL Bill says his favorite work is on the wall of the Makita Powertool company building.
40:27Copy video clip URL Videographer says he likes the Smirnoff ad. Dave said their colleague Victor did that one. Bill says Victor doesn’t get the recognition he deserves. A lot of pictorial men don’t do this high work. Dave says a lot of times the artwork will be painted on a canvas in the shop, brought to a site and stretched onto the billboard.
41:58Copy video clip URL B-roll of expressway and the street below as seen from the billboard.
42:55Copy video clip URL Dave and Bill announce that they are Signs Incorporated, a contracting company they started 2 months ago. They both say hello to their families.
45:53Copy video clip URL No audio. B-roll. Videographer is back on the ground looking up at Dave and Bill working on the sign.
46:49Copy video clip URL END