Excellent!
A neighborhood watch is such a great idea, not only for this... it should provide better security for the neighborhood overall, not just with regard to these punks, and that means better peace of mind for everyone in the neighborhood.
I think it also promotes a "good vibe" in the community, it will be nice to know the neighbors more. Maybe even (although I wouldn't hold my breath) the "punks" will respond to the program and become more community oriented as well. Afterall a watch would be for their benefit as well, watching for burglars or other things.
Excellent idea, should have very positive results! It's also a way to feel you are taking charge of the situation without having to go it alone or do something personally stressful on your own to get some results.
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http://www.idexter.com
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-- The world is what we make of it --
-- Dave
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www.idexter.com