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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Corp COM 88579y101 334 2,800 SH   SOLE   2,800 0 0
AT&T Inc. COM 00206r102 562 16,630 SH   SOLE   16,630 0 0
AbbVie COM 00287y109 416 9,300 SH   SOLE   9,300 0 0
Abbott Laboratories COM 002824100 309 9,300 SH   SOLE   9,300 0 0
Alcoa COM 013817101 5,777 711,500 SH   SOLE   711,500 0 0
Allstate Corp. COM 020002101 1,484 29,348 SH   SOLE   29,348 0 0
American Express COM 025816109 2,212 29,295 SH   SOLE   29,295 0 0
Amgen Inc. COM 031162100 3,587 32,050 SH   SOLE   32,050 0 0
Apache Corp COM 037411105 5,113 60,050 SH   SOLE   60,050 0 0
Apple Inc. COM 037833100 405 850 SH   SOLE   850 0 0
Automatic Data Proc. COM 053015103 456 6,300 SH   SOLE   6,300 0 0
Bank of NY Mellon COM 064058100 10,632 352,155 SH   SOLE   352,155 0 0
BankAmerica COM 060505104 176 12,747 SH   SOLE   12,747 0 0
Berkshire Hathaway B COM 084670702 620 5,464 SH   SOLE   5,464 0 0
Boeing Co. COM 097023105 1,451 12,349 SH   SOLE   12,349 0 0
Boston Properties COM 101121101 214 2,000 SH   SOLE   2,000 0 0
Bristol-Myers Squibb COM 110122108 4,720 101,980 SH   SOLE   101,980 0 0
Calpine Corp COM 131347304 9,190 473,000 SH   SOLE   473,000 0 0
Caterpillar COM 149123101 929 11,134 SH   SOLE   11,134 0 0
Charles Schwab COM 808513105 8,578 405,775 SH   SOLE   405,775 0 0
Check Point Software COM M22465104 434 7,675 SH   SOLE   7,675 0 0
Chevron Corp COM 166764100 9,867 81,206 SH   SOLE   81,206 0 0
Chubb COM 171232101 272 3,048 SH   SOLE   3,048 0 0
Cisco Systems COM 17275r102 6,919 295,308 SH   SOLE   295,308 0 0
Coca Cola COM 191216100 1,600 42,233 SH   SOLE   42,233 0 0
Cons. Disc. Sector SPDR COM 81369Y407 1,118 18,440 SH   SOLE   18,440 0 0
Consumer Staples Sector SPDR COM 81369Y308 861 21,625 SH   SOLE   21,625 0 0
Covidien Ltd COM G2554F113 858 14,075 SH   SOLE   14,075 0 0
Danaher Corp COM 235851102 1,599 23,065 SH   SOLE   23,065 0 0
Dick's Sporting Goods COM 253393102 6,778 126,975 SH   SOLE   126,975 0 0
Dominion Resources COM 25746u109 1,616 25,859 SH   SOLE   25,859 0 0
Du Pont COM 263534109 1,554 26,533 SH   SOLE   26,533 0 0
Energy Select Sector SPDR COM 81369Y506 377 4,550 SH   SOLE   4,550 0 0
Expeditors Int'l COM 302130109 11,434 259,501 SH   SOLE   259,501 0 0
Exxon Mobil COM 30231g102 3,584 41,655 SH   SOLE   41,655 0 0
Financial Sector SPDR COM 81369Y605 388 19,480 SH   SOLE   19,480 0 0
General Electric COM 369604103 10,213 427,509 SH   SOLE   427,509 0 0
General Mills Inc. COM 370334104 489 10,205 SH   SOLE   10,205 0 0
Google Inc. A COM 38259p508 13,475 15,384 SH   SOLE   15,384 0 0
Halliburton COM 406216101 832 17,275 SH   SOLE   17,275 0 0
Hewlett Packard COM 428236103 884 42,100 SH   SOLE   42,100 0 0
IBM COM 459200101 776 4,192 SH   SOLE   4,192 0 0
Intel COM 458140100 5,902 257,505 SH   SOLE   257,505 0 0
J.P. Morgan Chase COM 46625h100 1,428 27,623 SH   SOLE   27,623 0 0
Johnson & Johnson COM 478160104 4,470 51,562 SH   SOLE   51,562 0 0
Lowe's Cos. COM 548661107 2,051 43,075 SH   SOLE   43,075 0 0
Martin Marietta Materials COM 573284106 9,149 93,200 SH   SOLE   93,200 0 0
Materials Sector SPDR COM 81369Y100 528 12,565 SH   SOLE   12,565 0 0
McDonald's COM 580135101 1,464 15,213 SH   SOLE   15,213 0 0
Merck & Co. COM 58933y105 13,984 293,716 SH   SOLE   293,716 0 0
Microsoft COM 594918104 5,011 150,556 SH   SOLE   150,556 0 0
National Oilwell Varco COM 637071101 830 10,625 SH   SOLE   10,625 0 0
Noble Corp. COM h5833n103 8,507 225,225 SH   SOLE   225,225 0 0
Oracle COM 68389x105 872 26,291 SH   SOLE   26,291 0 0
PG&E Corporation COM 69331c108 408 9,963 SH   SOLE   9,963 0 0
Pepsico COM 713448108 1,292 16,250 SH   SOLE   16,250 0 0
Pfizer COM 717081103 2,780 96,783 SH   SOLE   96,783 0 0
ProLogis Inc COM 74340w103 17,764 472,200 SH   SOLE   472,200 0 0
Procter & Gamble COM 742718109 14,253 188,557 SH   SOLE   188,557 0 0
Progressive Waste Solutions COM 74339g101 5,030 195,500 SH   SOLE   195,500 0 0
Redwood Trust Inc. COM 758075402 197 10,000 SH   SOLE   10,000 0 0
Robert Half Intl. COM 770323103 5,764 147,675 SH   SOLE   147,675 0 0
Sysco Corp COM 871829107 3,899 122,500 SH   SOLE   122,500 0 0
T. Rowe Price Group COM 74144t108 259 3,600 SH   SOLE   3,600 0 0
Target COM 87612e106 206 3,227 SH   SOLE   3,227 0 0
Technology Sector SPDR COM 81369Y803 799 24,935 SH   SOLE   24,935 0 0
Teradata Corp COM 88076w103 488 8,800 SH   SOLE   8,800 0 0
Teva Pharm Inds ADR COM 881624209 587 15,543 SH   SOLE   15,543 0 0
U.S. Bancorp COM 902973304 1,520 41,558 SH   SOLE   41,558 0 0
Union Pacific COM 907818108 311 2,000 SH   SOLE   2,000 0 0
United Technologies COM 913017109 1,650 15,300 SH   SOLE   15,300 0 0
Utilities Sector SPDR COM 81369Y886 533 14,275 SH   SOLE   14,275 0 0
V.F. Corp. COM 918204108 485 2,435 SH   SOLE   2,435 0 0
Vanguard Info Tech ETF COM 92204a702 371 4,600 SH   SOLE   4,600 0 0
Vanguard REIT ETF COM 922908553 427 6,452 SH   SOLE   6,452 0 0
Verizon Comm. COM 92343v104 1,425 30,529 SH   SOLE   30,529 0 0
Vodafone Group COM 92857w209 232 6,584 SH   SOLE   6,584 0 0
Wal-Mart Stores COM 931142103 3,799 51,361 SH   SOLE   51,361 0 0
Walt Disney COM 254687106 1,551 24,050 SH   SOLE   24,050 0 0
Wells Fargo & Co. COM 949746101 12,637 305,830 SH   SOLE   305,830 0 0
Xerox COM 984121103 533 51,840 SH   SOLE   51,840 0 0
iPath DJ-UBS Commodity Index COM 06738c778 246 6,600 SH   SOLE   6,600 0 0
Vanguard FTSE All-World ex-US COM 922042775 3,747 77,102 SH   SOLE   77,102 0 0
Vanguard Ttl Stk ETF COM 922908769 354 4,035 SH   SOLE   4,035 0 0
iShares MSCI EAFE Fund COM 464287465 765 11,990 SH   SOLE   11,990 0 0
iShares S&P Mid Cap 400 COM 464287507 2,312 18,621 SH   SOLE   18,621 0 0
iShares S&P Small Cap 600 COM 464287804 2,305 23,094 SH   SOLE   23,094 0 0