<?xml version="1.0" encoding="utf-8"?>
<informationTable xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
  <infoTable>
    <nameOfIssuer>3M Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88579Y101</cusip>
    <value>468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3447</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3447</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AT&amp;T Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00206R102</cusip>
    <value>671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11332</Sole>
      <Shared>0</Shared>
      <None>7800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Abbott Labs</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15375</Sole>
      <Shared>0</Shared>
      <None>6000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Abbvie Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287Y109</cusip>
    <value>762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10025</Sole>
      <Shared>0</Shared>
      <None>4800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Accenture PLC-Cl A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g1150g111</cusip>
    <value>219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aflac, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>001055102</cusip>
    <value>523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>0</Shared>
      <None>7200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AmerisourceBergen</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03073E105</cusip>
    <value>525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apache</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037411105</cusip>
    <value>290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>0</Shared>
      <None>100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Computer</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>1240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2110</Sole>
      <Shared>0</Shared>
      <None>200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autoliv, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>052800109</cusip>
    <value>607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5750</Sole>
      <Shared>0</Shared>
      <None>300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053015103</cusip>
    <value>272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2625</Sole>
      <Shared>0</Shared>
      <None>900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>1868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14009</Sole>
      <Shared>0</Shared>
      <None>1700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275r102</cusip>
    <value>679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15280</Sole>
      <Shared>0</Shared>
      <None>15000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Tech</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>192446102</cusip>
    <value>1974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28210</Sole>
      <Shared>0</Shared>
      <None>10800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate Palmolive</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194162103</cusip>
    <value>1399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15370</Sole>
      <Shared>0</Shared>
      <None>6200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ConocoPhillips</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20825C104</cusip>
    <value>617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>0</Shared>
      <None>2476</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consolidated Energy Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20854P109</cusip>
    <value>587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13150</Sole>
      <Shared>0</Shared>
      <None>1550</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>1059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12670</Sole>
      <Shared>0</Shared>
      <None>1450</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EI DuPont de Nemours and Compa</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>263534109</cusip>
    <value>1041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7410</Sole>
      <Shared>0</Shared>
      <None>8101</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G29183103</cusip>
    <value>1594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17120</Sole>
      <Shared>0</Shared>
      <None>4100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edison International</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>281020107</cusip>
    <value>466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1840</Sole>
      <Shared>0</Shared>
      <None>6400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equitable Resources, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26884L109</cusip>
    <value>1998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15605</Sole>
      <Shared>0</Shared>
      <None>5000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>518439104</cusip>
    <value>201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Express Scripts</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30219G108</cusip>
    <value>286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1579</Sole>
      <Shared>0</Shared>
      <None>2233</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exxon Mobil Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231g102</cusip>
    <value>3316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24567</Sole>
      <Shared>0</Shared>
      <None>9380</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastenal Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>311900104</cusip>
    <value>552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337738108</cusip>
    <value>2809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8975</Sole>
      <Shared>0</Shared>
      <None>40574</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluor Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
    <value>1105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8920</Sole>
      <Shared>0</Shared>
      <None>5300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369550108</cusip>
    <value>662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1975</Sole>
      <Shared>0</Shared>
      <None>4100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369604103</cusip>
    <value>1930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74544</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55844</Sole>
      <Shared>0</Shared>
      <None>18700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graco Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384109104</cusip>
    <value>370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HCP Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40414L109</cusip>
    <value>977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16483</Sole>
      <Shared>0</Shared>
      <None>8700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harris Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413875105</cusip>
    <value>945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3720</Sole>
      <Shared>0</Shared>
      <None>9200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>1379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>8625</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inland Real Estate Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>457461200</cusip>
    <value>179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machine</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>459200101</cusip>
    <value>2334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5275</Sole>
      <Shared>0</Shared>
      <None>6850</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Flavors &amp; Fragra</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>459506101</cusip>
    <value>847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1850</Sole>
      <Shared>0</Shared>
      <None>7000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J.P. Morgan Chase</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625H100</cusip>
    <value>269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4425</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson &amp; Johnson</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>2482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18965</Sole>
      <Shared>0</Shared>
      <None>6300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kimberly-Clark Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>494368103</cusip>
    <value>331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kohl's Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>500255104</cusip>
    <value>662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>2850</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Laboratory Corp of America Hld</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50540R409</cusip>
    <value>1020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5085</Sole>
      <Shared>0</Shared>
      <None>5300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Companies, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>548661107</cusip>
    <value>254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>2000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McDonalds</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>580135101</cusip>
    <value>638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2810</Sole>
      <Shared>0</Shared>
      <None>3700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McKesson Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58155Q103</cusip>
    <value>212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595017104</cusip>
    <value>1701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24525</Sole>
      <Shared>0</Shared>
      <None>11100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>1113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>0</Shared>
      <None>10250</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>611742107</cusip>
    <value>271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>1000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nestle S.A. ADR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>641069406</cusip>
    <value>1576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18167</Sole>
      <Shared>0</Shared>
      <None>2789</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Systems</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>1889</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46164</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11164</Sole>
      <Shared>0</Shared>
      <None>35000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pepsico</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>1560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9130</Sole>
      <Shared>0</Shared>
      <None>9550</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16968</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15148</Sole>
      <Shared>0</Shared>
      <None>1820</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>718546104</cusip>
    <value>269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2499</Sole>
      <Shared>0</Shared>
      <None>988</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Potlatch Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>737630103</cusip>
    <value>300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5750</Sole>
      <Shared>0</Shared>
      <None>2000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>2869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35601</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26051</Sole>
      <Shared>0</Shared>
      <None>9550</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prudential Fin'l Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9096</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7921</Sole>
      <Shared>0</Shared>
      <None>1175</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sonoco Products Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>835495102</cusip>
    <value>1682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37150</Sole>
      <Shared>0</Shared>
      <None>3850</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863667101</cusip>
    <value>1940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16240</Sole>
      <Shared>0</Shared>
      <None>7575</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Target Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87612E106</cusip>
    <value>1245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12925</Sole>
      <Shared>0</Shared>
      <None>7650</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>881624209</cusip>
    <value>768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13625</Sole>
      <Shared>0</Shared>
      <None>900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>3061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15910</Sole>
      <Shared>0</Shared>
      <None>9550</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U.S. Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902973304</cusip>
    <value>890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20772</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8297</Sole>
      <Shared>0</Shared>
      <None>12475</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wal-Mart Stores Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>4000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>1067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19250</Sole>
      <Shared>0</Shared>
      <None>2200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>eBay Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>278642103</cusip>
    <value>431</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>0</Shared>
      <None>600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P Dep Rcpts Tr 1</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1020</Sole>
      <Shared>0</Shared>
      <None>200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR Gold Trust</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>78463V107</cusip>
    <value>1005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8130</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Broad Market ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>808524102</cusip>
    <value>1232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab US Small Cap ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>808524607</cusip>
    <value>214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3990</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard High Dvd Yield ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>921946406</cusip>
    <value>727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>0</Shared>
      <None>3625</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Large-Cap ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908637</cusip>
    <value>10393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>120815</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Mid-Cap ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908629</cusip>
    <value>5304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43350</Sole>
      <Shared>0</Shared>
      <None>3350</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Mid-Cap Value Index</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908512</cusip>
    <value>696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard REIT ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908553</cusip>
    <value>4115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>53025</Sole>
      <Shared>0</Shared>
      <None>5250</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard REIT Index</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>921908703</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8623</Sole>
      <Shared>0</Shared>
      <None>266</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard S&amp;P 500</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908413</cusip>
    <value>304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1775</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Small-Cap ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908751</cusip>
    <value>4420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36830</Sole>
      <Shared>0</Shared>
      <None>2300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Total Stock Mkt ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922908769</cusip>
    <value>3909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39600</Sole>
      <Shared>0</Shared>
      <None>500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Int'l Equity ETF</nameOfIssuer>
    <titleOfClass>ETF</titleOfClass>
    <cusip>808524805</cusip>
    <value>307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Emerging Market ETF</nameOfIssuer>
    <titleOfClass>ETF</titleOfClass>
    <cusip>922042858</cusip>
    <value>3896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>88265</Sole>
      <Shared>0</Shared>
      <None>7750</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Europe Pacific ETF</nameOfIssuer>
    <titleOfClass>ETF</titleOfClass>
    <cusip>921943858</cusip>
    <value>6708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>151195</Sole>
      <Shared>0</Shared>
      <None>11350</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard FTSE All World ex-US</nameOfIssuer>
    <titleOfClass>ETF</titleOfClass>
    <cusip>922042718</cusip>
    <value>1060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9120</Sole>
      <Shared>0</Shared>
      <None>800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IShares iBoxx H/Y Corp Bond</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>464288513</cusip>
    <value>354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3650</Sole>
      <Shared>0</Shared>
      <None>100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard High Yld Crp</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>922031208</cusip>
    <value>281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43543</Sole>
      <Shared>0</Shared>
      <None>2480</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Int-Term Corp Bond ET</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>92206c870</cusip>
    <value>654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>0</Shared>
      <None>3000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard S/T Govt Bond ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>92206C102</cusip>
    <value>487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Short Term Bond ETF</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>921937827</cusip>
    <value>7609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90800</Sole>
      <Shared>0</Shared>
      <None>4200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Short-Term Corp Bond</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>92206c409</cusip>
    <value>4589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51580</Sole>
      <Shared>0</Shared>
      <None>5800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares iBoxx$ InvstGrd Corp B</nameOfIssuer>
    <titleOfClass>MUT</titleOfClass>
    <cusip>464287242</cusip>
    <value>634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5425</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
