The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Common Stock 88579Y101   3,983 33,360 SH   SOLE   33,360 0 0
ABBOTT LABORATORIES Common Stock 002824100   1,976 59,550 SH   SOLE   59,550 0 0
ABBVIE INC. Common Stock 00287Y109   2,739 61,250 SH   SOLE   61,250 0 0
AIR PRODUCTS & CHEMICALS Common Stock 009158106   452 4,250 SH   SOLE   4,250 0 0
ALTRIA GROUP INC. Common Stock 02209S103   470 13,700 SH   SOLE   13,700 0 0
AMERICAN EXPRESS CO. Common Stock 025816109   1,246 16,500 SH   SOLE   16,500 0 0
AMGEN INC. Common Stock 031162100   3,189 28,500 SH   SOLE   28,500 0 0
APACHE CORP. Common Stock 037411105   221 2,600 SH   SOLE   2,600 0 0
APPLE COMPUTER Common Stock 037833100   30,801 64,607 SH   SOLE   64,607 0 0
BAKER HUGHES, INC. Common Stock 057224107   991 20,200 SH   SOLE   20,200 0 0
BANK OF NY MELLON CORP Common Stock 064058100   646 21,421 SH   SOLE   21,421 0 0
BANK OF AMERICA CORP Common Stock 060505104   567 41,105 SH   SOLE   41,105 0 0
BAXTER INTERNATIONAL Common Stock 071813109   2,877 43,800 SH   SOLE   43,800 0 0
BERKSHIRE HATHAWAY INC. CL. "B" Common Stock 084670207   2,176 19,178 SH   SOLE   19,178 0 0
BLACKBERRY LTD. Common Stock 09228F103   84 10,600 SH   SOLE   10,600 0 0
BLACKROCK INC. Common Stock 09247X101   355 1,315 SH   SOLE   1,315 0 0
BOEING CORPORATION Common Stock 097023105   4,320 36,770 SH   SOLE   36,770 0 0
BRISTOL-MYERS SQUIBB Common Stock 110122108   2,642 57,100 SH   SOLE   57,100 0 0
BROADCOM CORP Common Stock 111320107   217 8,350 SH   SOLE   8,350 0 0
CVS CAREMARK CORP. Common Stock 126650100   340 6,000 SH   SOLE   6,000 0 0
CHEVRON TEXACO Common Stock 166764100   686 5,650 SH   SOLE   5,650 0 0
CISCO SYSTEMS Common Stock 17275R102   1,053 44,975 SH   SOLE   44,975 0 0
CLOVIS Common Stock 189464100   364 6,000 SH   SOLE   6,000 0 0
COCA COLA Common Stock 191216100   3,588 94,746 SH   SOLE   94,746 0 0
COLGATE-PALMOLIVE COMPANY Common Stock 194162103   3,031 51,128 SH   SOLE   51,128 0 0
CONOCO PHILLIPS Common Stock 20825C104   866 12,464 SH   SOLE   12,464 0 0
CORNING INC. Common Stock 219350105   434 29,800 SH   SOLE   29,800 0 0
COSTCO Common Stock 22160K105   598 5,200 SH   SOLE   5,200 0 0
CUMMINS INC. Common Stock 231021106   770 5,800 SH   SOLE   5,800 0 0
CYTEC INDUSTRIES Common Stock 232820100   659 8,100 SH   SOLE   8,100 0 0
DEERE & COMPANY Common Stock 24419910   687 8,450 SH   SOLE   8,450 0 0
DEVON ENERGY CORP. Common Stock 25179M103   773 13,400 SH   SOLE   13,400 0 0
DISNEY (WALT) CO. Common Stock 254687106   3,311 51,350 SH   SOLE   51,350 0 0
DOVER CORP Common Stock 260003108   2,272 25,300 SH   SOLE   25,300 0 0
DUPONT DE NEMOURS Common Stock 263534109   1,667 28,471 SH   SOLE   28,471 0 0
EMC CORPORATION Common Stock 26864810   306 12,000 SH   SOLE   12,000 0 0
EMERSON CO. Common Stock 291011104   3,791 58,600 SH   SOLE   58,600 0 0
ENTERPRISE PROSUCTS PARTNERS L.P. Common Stock 293792107   207 3,400 SH   SOLE   3,400 0 0
EXXON MOBIL Common Stock 30231G102   7,347 85,392 SH   SOLE   85,392 0 0
FEDEX CORP Common Stock 31428X106   912 8,000 SH   SOLE   8,000 0 0
FREEPORT-MCMORAN COPPER & GOLD, INC. Common Stock 35671D857   535 16,200 SH   SOLE   16,200 0 0
GENERAL ELECTRIC Common Stock 369604103   3,376 141,337 SH   SOLE   141,337 0 0
GOLDMAN SACHS Common Stock 38141G104   759 4,800 SH   SOLE   4,800 0 0
GOOGLE, INC. Common Stock 38259P508   867 990 SH   SOLE   990 0 0
HALLIBURTON COMPANY Common Stock 406216101   1,271 26,400 SH   SOLE   26,400 0 0
HOME DEPOT Common Stock 437076102   462 6,100 SH   SOLE   6,100 0 0
HONEYWELL INTL Common Stock 438516106   4,585 55,225 SH   SOLE   55,225 0 0
HOWARD HUGHES CORP Common Stock 44267D107   2,385 21,230 SH   SOLE   21,230 0 0
IBM CORPORATION Common Stock 459200101   5,042 27,228 SH   SOLE   27,228 0 0
ISHARES MCSI PACIFIC EX-JAPAN Common Stock 464286665   250 5,250 SH   SOLE   5,250 0 0
ISHARES MSCI EMERGING MKTS Common Stock 464287234   210 5,175 SH   SOLE   5,175 0 0
INTEL CORP. Common Stock 458140100   815 35,600 SH   SOLE   35,600 0 0
JP MORGAN CHASE & CO. Common Stock 46625H100   3,860 74,690 SH   SOLE   74,690 0 0
JACOBS ENGINEERING GROUP Common Stock 469814107   1,146 19,700 SH   SOLE   19,700 0 0
JOHNSON & JOHNSON Common Stock 478160104   9,121 105,222 SH   SOLE   105,222 0 0
KIMBERLY CLARK Common Stock 494368103   895 9,500 SH   SOLE   9,500 0 0
KRAFT FOODS INC Common Stock 50075N104   498 9,500 SH   SOLE   9,500 0 0
L-3 COMMUNICATIONS Common Stock 502424104   746 7,900 SH   SOLE   7,900 0 0
LILLY (ELI) & CO. Common Stock 532457108   754 15,000 SH   SOLE   15,000 0 0
LOWES COMPANIES Common Stock 548661107   647 13,600 SH   SOLE   13,600 0 0
MC DONALD'S CORPORATION Common Stock 580135101   2,679 27,850 SH   SOLE   27,850 0 0
MICROSOFT CORPORATION Common Stock 594918104   2,086 62,700 SH   SOLE   62,700 0 0
MORGAN STANLEY Common Stock 617446448   409 15,200 SH   SOLE   15,200 0 0
NESTLE S A SPONSORED ADR Common Stock 641069406   271 3,900 SH   SOLE   3,900 0 0
NIKE INC. Common Stock 654106103   2,542 35,000 SH   SOLE   35,000 0 0
NORFOLK SOUTHERN CORP. Common Stock 655844108   1,539 19,900 SH   SOLE   19,900 0 0
NOVARTIS ADR Common Stock 66987V109   1,879 24,500 SH   SOLE   24,500 0 0
OAKTREE CAPITAL GROUP, LLC Common Stock 674001201   753 14,400 SH   SOLE   14,400 0 0
ORACLE CORPORATION Common Stock 68389X105   2,501 75,400 SH   SOLE   75,400 0 0
PALL CORPORATION Common Stock 696429307   2,003 26,000 SH   SOLE   26,000 0 0
PEPSICO Common Stock 713448108   2,231 28,070 SH   SOLE   28,070 0 0
PFIZER Common Stock 717081103   1,022 35,600 SH   SOLE   35,600 0 0
PHILIP MORRIS INTERNATIONAL Common Stock 718172109   1,194 13,800 SH   SOLE   13,800 0 0
PRECISION CASTPARTS Common Stock 740189105   1,954 8,600 SH   SOLE   8,600 0 0
PROCTER & GAMBLE Common Stock 742718109   7,644 101,126 SH   SOLE   101,126 0 0
QUALCOMM Common Stock 747525103   3,466 51,500 SH   SOLE   51,500 0 0
SCHLUMBERGER LIMITED Common Stock 806857108   4,295 48,612 SH   SOLE   48,612 0 0
STRYKER CORPORATION Common Stock 863667101   520 7,700 SH   SOLE   7,700 0 0
TJX COMPANIES, INC. Common Stock 872540109   293 5,200 SH   SOLE   5,200 0 0
TIME WARNER INC. Common Stock 887317105   381 5,800 SH   SOLE   5,800 0 0
UNION PACIFIC CORP. Common Stock 907818108   1,495 9,625 SH   SOLE   9,625 0 0
UNITED PARCEL SERVICE Common Stock 911312106   3,928 43,000 SH   SOLE   43,000 0 0
VANGUARD EMERGING MARKETS ETF Common Stock 922042858   208 5,200 SH   SOLE   5,200 0 0
VODAFONE GROUP PLC ADR Common Stock 92857W209   1,435 40,800 SH   SOLE   40,800 0 0
WATERS CORP Common Stock 941848103   6,335 59,650 SH   SOLE   59,650 0 0
WATTS WATER TECHNOLOGIES Common Stock 942749102   2,142 38,000 SH   SOLE   38,000 0 0
WELLS FARGO Common Stock 30226D106   1,470 35,600 SH   SOLE   35,600 0 0
YUM! BRANDS Common Stock 988498101   1,213 17,000 SH   SOLE   17,000 0 0