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 365 2,600 SH   SOLE   2,600 0 0
AT&T Inc. COM 00206r102 585 16,630 SH   SOLE   16,630 0 0
AbbVie COM 00287y109 484 9,166 SH   SOLE   9,166 0 0
Abbott Laboratories COM 002824100 351 9,166 SH   SOLE   9,166 0 0
Alcoa COM 013817101 7,563 711,500 SH   SOLE   711,500 0 0
Allstate Corp. COM 020002101 1,592 29,198 SH   SOLE   29,198 0 0
American Express COM 025816109 2,658 29,295 SH   SOLE   29,295 0 0
Amgen Inc. COM 031162100 3,656 32,050 SH   SOLE   32,050 0 0
Apache Corp COM 037411105 5,161 60,050 SH   SOLE   60,050 0 0
Apple Inc. COM 037833100 471 840 SH   SOLE   840 0 0
Automatic Data Proc. COM 053015103 509 6,300 SH   SOLE   6,300 0 0
Bank of NY Mellon COM 064058100 12,304 352,155 SH   SOLE   352,155 0 0
BankAmerica COM 060505104 198 12,747 SH   SOLE   12,747 0 0
Berkshire Hathaway B COM 084670702 628 5,297 SH   SOLE   5,297 0 0
Boeing Co. COM 097023105 235 1,724 SH   SOLE   1,724 0 0
Boston Properties COM 101121101 201 2,000 SH   SOLE   2,000 0 0
Bristol-Myers Squibb COM 110122108 5,420 101,980 SH   SOLE   101,980 0 0
Calpine Corp COM 131347304 9,228 473,000 SH   SOLE   473,000 0 0
Caterpillar COM 149123101 1,011 11,134 SH   SOLE   11,134 0 0
Charles Schwab COM 808513105 10,580 406,925 SH   SOLE   406,925 0 0
Check Point Software COM M22465104 518 8,025 SH   SOLE   8,025 0 0
Chevron Corp COM 166764100 10,153 81,286 SH   SOLE   81,286 0 0
Chubb COM 171232101 266 2,748 SH   SOLE   2,748 0 0
Cisco Systems COM 17275r102 6,646 296,308 SH   SOLE   296,308 0 0
Coca Cola COM 191216100 1,782 43,133 SH   SOLE   43,133 0 0
Cons. Disc. Sector SPDR COM 81369Y407 1,294 19,365 SH   SOLE   19,365 0 0
Consumer Staples Sector SPDR COM 81369Y308 943 21,950 SH   SOLE   21,950 0 0
Covidien Ltd COM G2554F113 973 14,293 SH   SOLE   14,293 0 0
Danaher Corp COM 235851102 1,701 22,033 SH   SOLE   22,033 0 0
Dick's Sporting Goods COM 253393102 7,414 127,600 SH   SOLE   127,600 0 0
Dominion Resources COM 25746u109 1,661 25,684 SH   SOLE   25,684 0 0
Du Pont COM 263534109 1,734 26,692 SH   SOLE   26,692 0 0
Energy Select Sector SPDR COM 81369Y506 424 4,785 SH   SOLE   4,785 0 0
Expeditors Int'l COM 302130109 11,483 259,501 SH   SOLE   259,501 0 0
Exxon Mobil COM 30231g102 4,193 41,436 SH   SOLE   41,436 0 0
Financial Sector SPDR COM 81369Y605 493 22,530 SH   SOLE   22,530 0 0
General Electric COM 369604103 11,994 427,909 SH   SOLE   427,909 0 0
General Mills Inc. COM 370334104 547 10,955 SH   SOLE   10,955 0 0
Google Inc. A COM 38259p508 17,241 15,384 SH   SOLE   15,384 0 0
Halliburton COM 406216101 905 17,825 SH   SOLE   17,825 0 0
Hewlett Packard COM 428236103 1,178 42,100 SH   SOLE   42,100 0 0
IBM COM 459200101 724 3,859 SH   SOLE   3,859 0 0
Industrial Sector SPDR COM 81369Y704 993 19,000 SH   SOLE   19,000 0 0
Intel COM 458140100 6,693 257,888 SH   SOLE   257,888 0 0
J.P. Morgan Chase COM 46625h100 1,637 27,999 SH   SOLE   27,999 0 0
Johnson & Johnson COM 478160104 4,736 51,712 SH   SOLE   51,712 0 0
Lowe's Cos. COM 548661107 2,141 43,200 SH   SOLE   43,200 0 0
Martin Marietta Materials COM 573284106 9,314 93,200 SH   SOLE   93,200 0 0
Materials Sector SPDR COM 81369Y100 588 12,715 SH   SOLE   12,715 0 0
McDonald's COM 580135101 1,476 15,213 SH   SOLE   15,213 0 0
Merck & Co. COM 58933y105 14,698 293,666 SH   SOLE   293,666 0 0
Microsoft COM 594918104 5,623 150,306 SH   SOLE   150,306 0 0
National Oilwell Varco COM 637071101 884 11,117 SH   SOLE   11,117 0 0
Noble Corp. COM g65431101 8,436 225,133 SH   SOLE   225,133 0 0
Oracle COM 68389x105 1,035 27,041 SH   SOLE   27,041 0 0
PG&E Corporation COM 69331c108 401 9,963 SH   SOLE   9,963 0 0
Pepsico COM 713448108 1,322 15,941 SH   SOLE   15,941 0 0
Pfizer COM 717081103 2,965 96,813 SH   SOLE   96,813 0 0
ProLogis Inc COM 74340w103 17,448 472,200 SH   SOLE   472,200 0 0
Procter & Gamble COM 742718109 15,365 188,741 SH   SOLE   188,741 0 0
Progressive Waste Solutions COM 74339g101 4,839 195,500 SH   SOLE   195,500 0 0
Redwood Trust Inc. COM 758075402 194 10,000 SH   SOLE   10,000 0 0
Robert Half Intl. COM 770323103 6,245 148,725 SH   SOLE   148,725 0 0
Sysco Corp COM 871829107 4,422 122,500 SH   SOLE   122,500 0 0
T. Rowe Price Group COM 74144t108 302 3,600 SH   SOLE   3,600 0 0
Technology Sector SPDR COM 81369Y803 1,272 35,585 SH   SOLE   35,585 0 0
Teradata Corp COM 88076w103 5,504 121,000 SH   SOLE   121,000 0 0
Teva Pharm Inds ADR COM 881624209 636 15,859 SH   SOLE   15,859 0 0
U.S. Bancorp COM 902973304 1,679 41,558 SH   SOLE   41,558 0 0
Union Pacific COM 907818108 336 2,000 SH   SOLE   2,000 0 0
United Technologies COM 913017109 1,715 15,067 SH   SOLE   15,067 0 0
Utilities Sector SPDR COM 81369Y886 545 14,350 SH   SOLE   14,350 0 0
V.F. Corp. COM 918204108 618 9,920 SH   SOLE   9,920 0 0
Vanguard Info Tech ETF COM 92204a702 412 4,600 SH   SOLE   4,600 0 0
Vanguard REIT ETF COM 922908553 417 6,452 SH   SOLE   6,452 0 0
Verizon Comm. COM 92343v104 1,481 30,136 SH   SOLE   30,136 0 0
Vodafone Group COM 92857w209 247 6,292 SH   SOLE   6,292 0 0
Wal-Mart Stores COM 931142103 4,042 51,361 SH   SOLE   51,361 0 0
Walt Disney COM 254687106 1,857 24,300 SH   SOLE   24,300 0 0
Wells Fargo & Co. COM 949746101 13,888 305,905 SH   SOLE   305,905 0 0
Xerox COM 984121103 631 51,840 SH   SOLE   51,840 0 0
iPath DJ-UBS Commodity Index COM 06738c778 243 6,600 SH   SOLE   6,600 0 0
Vanguard FTSE All-World ex-US COM 922042775 4,151 81,825 SH   SOLE   81,825 0 0
Vanguard Ttl Stk ETF COM 922908769 670 6,980 SH   SOLE   6,980 0 0
iShares MSCI EAFE Fund COM 464287465 791 11,790 SH   SOLE   11,790 0 0
iShares S&P Mid Cap 400 COM 464287507 2,559 19,121 SH   SOLE   19,121 0 0
iShares S&P Small Cap 600 COM 464287804 2,566 23,509 SH   SOLE   23,509 0 0