This conference call cannot be a good thing. We all know NAHB is hurting (or at least their memebers are).
I just posted in another thread how J6P is hurting. I haven't seen it like this for a long time. It reminds me of the 1970's (I forget which year) when I had to ask my mom why so many adults were crying in the mall. (That hasn't happened yet. I saw it again in the 1990's.)
As part of the process required by ANSI, NAHB and the International Code Council gathered a fully inclusive and representative consensus committee composed of a broad spectrum of builders, architects, product manufacturers, regulators and environmental experts. Representatives from the NAHB and the Code Council will hold a teleconference after the standard is approve
Reuters.com reports Goldman Sachs laid off investment bankers last week as it reacts to slowing markets and a slump in merger activity, according to people familiar with the situation and Wall Street recruiters. The cuts, described as in the hundreds, were concentrated among support staff and junior level bankers. One insider told Reuters that 25% of employees at the vice-president level were let go.
You'll hear about fully qualified Jumbo borrowers with full appraisals @ 60% LTV ... disapproved because appraisal review wants 10-15% more off the price and 75% LTV isn't what they want.... my guess.
A rolling strike, which already has halted oil shipping through the Port of Marseille, is set to continue for a further 5 days, according to officials of the state-run port administration.
Marseille, the world's third-largest oil port, after Rotterdam and Houston, receives about 40% of France's crude oil.
At the moment, 22 tankers are waiting to offload their cargoes at Marseille's Fos-Lavera terminals, Frances largest oil port.
But the ships could be delayed until June 18 due to a sequence of day-long strikes which, by then, will have brought the port to a halt for 7 consecutive days.
Officials issued a statement saying the port "regrets this decision, which risks durably compromising the future of the port, of its personnel, of the companies, of the 40,000 regional jobs that depend on its activity."
Come on kids, wake up with this topic: NAHB and the International Code Council gathered a fully inclusive and representative consensus committee........ Major non-event! Move on!
"We are having a Wile E. Coyote moment. What we mean by that is that we have looked down, and did not see ground. We looked back and saw a cliff. We are now running on air.
As this is an unsatisfactory position, and the law of gravity has not been repealed, we think going forward, as it is, is not an option. We continue to hope that a solution will be found before gravity gets a clue. Unfortunately, as we have noticed the lack of ground beneath our feet, we think the time remaining for salvation is relatively short. We continue to.....AHHHHHHHHHH!!!!!!!!!!!!!!
Anonymous writes:
A rolling strike, which already has halted oil shipping through the Port of Marseille, is set to continue for a further 5 days, according to officials of the state-run port administration.
Marseille, the world's third-largest oil port, after Rotterdam and Houston, receives about 40% of France's crude oil.
That's an easy fix - just declare today August 1st and send everyone off for the annual month long vacation. If the strike goes on longer than that then declare this the Year or the Endless August.
Rob Dawg writes:
So, the grasshoppers will be explaining to we ants why they need a cup of our uncle sugar to make it through the winter.
Rob Dawg | Homepage | 06.16.08 - 12:41 pm | #
They aren't thinking ahead to 'winter'... more likely just looking for a quick sugar buzz for the afternoon.
ran, OPEC's second-largest oil producer, increased the number of tankers idling in the Persian Gulf to at least 14, indicating it may be storing more crude, ship-tracking data show.
Iran has at least 14 very large crude carriers, or VLCCs, floating near Kharg Island, a loading facility. In April, there were 10, holding at least 20 million barrels of oil, people familiar with the situation said at the time. Shipbrokers also reported that Iran hired three more tankers, which have been near Kharg Island for at least two weeks.
Iran has a glut of its sulfur-rich crude because refineries that can process the fuel shut down for maintenance. The discount on Iranian Heavy crude compared with Oman and Dubai petroleum has widened for three consecutive months to its biggest since January 2007, according to data compiled by Bloomberg. Earnings from supertankers more than tripled from April to May.
The use of vessels for storage has been a ``component of the rise'' in rental rates, Mathieu Philippe, a tanker broker at Barry Rogliano Salles in Dubai said by phone today. Rates have also been bolstered by record crude output by the Organization of Petroleum Exporting Countries and reduced demand for single-hull tankers that increase the risk of oil spills, he said.
The 14 supertankers are capable or storing as much as 28 million barrels of oil, equal to about 12 days of Iran's total output. The three tankers hired by National Iranian Tanker Co. can store another 5 million barrels between them.
Shipping companies are reaping a bonanza as crude stockpiles in the US have hit rock bottom. Freight rates have gone up 70-80% in just about a month on account of high seasonal demand for crude in the US and a low stock due to the severe winter which the country faced recently.
With the summer holidays in full swing, the driving season will soon kick off in the US and freight rates would increase further over the next few months, according to major shipping companies in India.
The freight rate for very large crude carriers (VLCCs) in May this year averaged around $1,15,000 per day as against an average of $59,652 per day in April 2008, recording an increase of 92%. For Suezmax tankers (tankers large enough to pass through the Suez canal), rates went up by 60% from $52,866 per day in April 2008 to $840,790 in May 2008.
--
"...Why would they be pleading for help from Congress?"
And what can born-and-bred American dopes do about it?
Crooks know why the USG and Fed exist -- to help the business interests while keeping "the American People" in line. The doping (brainwashing from birth onwards) propaganda are the tools by which "the American People" are kept in line while the govt does what it can for the businesses.
Naw, I didn't read this right. The CEO of the NAHB will discuss the importance of passing "economic stimulus legislation"? Does he want more houses being built?
Of course that is like asking GM if they want to build more cars. What they want in the US gov't to subsidize the sales with tax credits, vouchers etc.
" WHATS THE DIFFERENCE BETWEEN LEHMAN BROTHERS AND BEAR STEARNS?
LEHMANS CEO SITS ON THE BOARD OF THE NY FED"
Part of story:
"The evidence at least warrants an investigation, but who is going to hold these self-dealing Federal Reserve Board members to account? In a March 27 radio broadcast noted in The New York Post of the same day, Senator Christopher Dodd pointed out the conflict of interest and said it needed to be examined; but no mention was made of it at the April 4 Senate hearings. Why not? Olagues suggests he had gotten his marching orders by then from a major campaign contributor. New York Governor Eliot Spitzer, the former thorn in the side of the Wall Street bankers, has been summarily disposed of; and under the latest proposal of U.S. Treasury Secretary Hank Paulson, the Federal Reserve itself will soon become the chief overseer and regulator of the banks. The Federal Reserve will regulate the Federal Reserve Boards with their litany of private bank CEOs, a clear case of the fox guarding the henhouse."
A conference call is certainly necessary here to keep the sheep complacent.
How about "decorative" homes along the stretches of barren freeway roadside. It will be called the "Pleasant Roadways Initiative". It will be attached like all things to a war funding bill. "Don't you support our boys and girls?"
NAHB begging for a large and unencumbered tax credit prior to the July 4th recess
Maybe the markets will respond rationally to the drop in revenues (and thereby the ability to service debt in real terms) by driving up interest rates, driving down the dollar, and driving up commodity prices.
"So, the grasshoppers will be explaining to we ants why they need a cup of our uncle sugar to make it through the winter."
No - the Saudis will be asking the grasshoppers and the ants for something more valuable than what uncle sugar has been providing - a messy war essentially next door where the Shia/Iranian side looks to be the big winners. Unless someone goes nuclear, in which case, everyone in the neighborhood will be big losers.
And the Saudis will also be doing their best to keep us driving, at literally any cost (remember, the Saudis still have a lot of oil to sell), because otherwise, they will just be a small group of people in a big desert with a durable tourist mecca - or is that Mecca mecca?
To which infidels are not welcome, to put it mildly.
We need another home built and more shopping malls like we need a buggy whip for every person on earth. Screw these bastards and their taxpayer funded subsides.
Guess they are getting out there for symapthy before the BKs. Gotta show they are human just like J6P. Makes it easier for us to accept a bailout.
This conference call cannot be a good thing. We all know NAHB is hurting (or at least their memebers are).
I just posted in another thread how J6P is hurting. I haven't seen it like this for a long time. It reminds me of the 1970's (I forget which year) when I had to ask my mom why so many adults were crying in the mall. (That hasn't happened yet. I saw it again in the 1990's.)
Got Popcorn?
Neil
They're holding a conference call so that you can hear the tin cups.
Perhaps he's responding to all the rosy scenario types who have been calling a bottom.
Just a guess.
Cheers,
Its all priced in!!!!
As part of the process required by ANSI, NAHB and the International Code Council gathered a fully inclusive and representative consensus committee composed of a broad spectrum of builders, architects, product manufacturers, regulators and environmental experts. Representatives from the NAHB and the Code Council will hold a teleconference after the standard is approve
CR, why don't you call in and ask some questions like, "where do you guys see yourselves in 5 years?"
Of course a conference call.
How else are we supposed to hear the cries of the hostages?
You just can't replicate that in a press release.
European inflation at 16 year high. Oil nearing $140 a barrel, NY manufacturing comes in WAY below estimates. Stagflation is here.
I love the smell of stagflation in the morning. Smells like depression.
Cheers,
sniffles...
Reuters.com reports Goldman Sachs laid off investment bankers last week as it reacts to slowing markets and a slump in merger activity, according to people familiar with the situation and Wall Street recruiters. The cuts, described as in the hundreds, were concentrated among support staff and junior level bankers. One insider told Reuters that 25% of employees at the vice-president level were let go.
Warp 9, I'll definitely be calling in.
I expect most of the call to be cries for help.
Best to all
NAHB is a non-event, what about oil?
You'll hear about fully qualified Jumbo borrowers with full appraisals @ 60% LTV ... disapproved because appraisal review wants 10-15% more off the price and 75% LTV isn't what they want.... my guess.
A rolling strike, which already has halted oil shipping through the Port of Marseille, is set to continue for a further 5 days, according to officials of the state-run port administration.
Marseille, the world's third-largest oil port, after Rotterdam and Houston, receives about 40% of France's crude oil.
At the moment, 22 tankers are waiting to offload their cargoes at Marseille's Fos-Lavera terminals, Frances largest oil port.
But the ships could be delayed until June 18 due to a sequence of day-long strikes which, by then, will have brought the port to a halt for 7 consecutive days.
Officials issued a statement saying the port "regrets this decision, which risks durably compromising the future of the port, of its personnel, of the companies, of the 40,000 regional jobs that depend on its activity."
Come on kids, wake up with this topic: NAHB and the International Code Council gathered a fully inclusive and representative consensus committee........ Major non-event! Move on!
So, the grasshoppers will be explaining to we ants why they need a cup of our uncle sugar to make it through the winter.
"We are having a Wile E. Coyote moment. What we mean by that is that we have looked down, and did not see ground. We looked back and saw a cliff. We are now running on air.
As this is an unsatisfactory position, and the law of gravity has not been repealed, we think going forward, as it is, is not an option. We continue to hope that a solution will be found before gravity gets a clue. Unfortunately, as we have noticed the lack of ground beneath our feet, we think the time remaining for salvation is relatively short. We continue to.....AHHHHHHHHHH!!!!!!!!!!!!!!
Cheers,
Anonymous writes:
A rolling strike, which already has halted oil shipping through the Port of Marseille, is set to continue for a further 5 days, according to officials of the state-run port administration.
Marseille, the world's third-largest oil port, after Rotterdam and Houston, receives about 40% of France's crude oil.
That's an easy fix - just declare today August 1st and send everyone off for the annual month long vacation. If the strike goes on longer than that then declare this the Year or the Endless August.
I really should go into gov't...
Rob Dawg writes:
So, the grasshoppers will be explaining to we ants why they need a cup of our uncle sugar to make it through the winter.
Rob Dawg | Homepage | 06.16.08 - 12:41 pm | #
They aren't thinking ahead to 'winter'... more likely just looking for a quick sugar buzz for the afternoon.
I mean winter? Whats that?
ran, OPEC's second-largest oil producer, increased the number of tankers idling in the Persian Gulf to at least 14, indicating it may be storing more crude, ship-tracking data show.
Iran has at least 14 very large crude carriers, or VLCCs, floating near Kharg Island, a loading facility. In April, there were 10, holding at least 20 million barrels of oil, people familiar with the situation said at the time. Shipbrokers also reported that Iran hired three more tankers, which have been near Kharg Island for at least two weeks.
Iran has a glut of its sulfur-rich crude because refineries that can process the fuel shut down for maintenance. The discount on Iranian Heavy crude compared with Oman and Dubai petroleum has widened for three consecutive months to its biggest since January 2007, according to data compiled by Bloomberg. Earnings from supertankers more than tripled from April to May.
The use of vessels for storage has been a ``component of the rise'' in rental rates, Mathieu Philippe, a tanker broker at Barry Rogliano Salles in Dubai said by phone today. Rates have also been bolstered by record crude output by the Organization of Petroleum Exporting Countries and reduced demand for single-hull tankers that increase the risk of oil spills, he said.
The 14 supertankers are capable or storing as much as 28 million barrels of oil, equal to about 12 days of Iran's total output. The three tankers hired by National Iranian Tanker Co. can store another 5 million barrels between them.
Shipping companies are reaping a bonanza as crude stockpiles in the US have hit rock bottom. Freight rates have gone up 70-80% in just about a month on account of high seasonal demand for crude in the US and a low stock due to the severe winter which the country faced recently.
With the summer holidays in full swing, the driving season will soon kick off in the US and freight rates would increase further over the next few months, according to major shipping companies in India.
The freight rate for very large crude carriers (VLCCs) in May this year averaged around $1,15,000 per day as against an average of $59,652 per day in April 2008, recording an increase of 92%. For Suezmax tankers (tankers large enough to pass through the Suez canal), rates went up by 60% from $52,866 per day in April 2008 to $840,790 in May 2008.
--
"...Why would they be pleading for help from Congress?"
And what can born-and-bred American dopes do about it?
Crooks know why the USG and Fed exist -- to help the business interests while keeping "the American People" in line. The doping (brainwashing from birth onwards) propaganda are the tools by which "the American People" are kept in line while the govt does what it can for the businesses.
American govts business is business!
Jas
What happened to Sebastian aheadofthecurve and O-Joe. Did they go into hiding? c'mon Things aren't that bad (yet).
Naw, I didn't read this right. The CEO of the NAHB will discuss the importance of passing "economic stimulus legislation"? Does he want more houses being built?
Does he want more houses being built?
Of course that is like asking GM if they want to build more cars. What they want in the US gov't to subsidize the sales with tax credits, vouchers etc.
Lefty's Liquors,
"Does he want more houses being built?"
Well DUUUUUHH! They're housing BUILDERS.
Gotta build.
Cheers,
Who is going to buy the damn houses in this housing slump? They have to compete against the foreclosed ones.
Misean writes:
Lefty's Liquors,
"Does he want more houses being built?"
Well DUUUUUHH! They're housing BUILDERS.
Gotta build.
Cheers,
Misean | 06.16.08 - 12:58 pm | #
Let's just make sure they don't meet any farmers - there are policy alternatives to being paid to build.
Take it from a Midwest guy who knows...
Headline,
" WHATS THE DIFFERENCE BETWEEN LEHMAN BROTHERS AND BEAR STEARNS?
LEHMANS CEO SITS ON THE BOARD OF THE NY FED"
Part of story:
"The evidence at least warrants an investigation, but who is going to hold these self-dealing Federal Reserve Board members to account? In a March 27 radio broadcast noted in The New York Post of the same day, Senator Christopher Dodd pointed out the conflict of interest and said it needed to be examined; but no mention was made of it at the April 4 Senate hearings. Why not? Olagues suggests he had gotten his marching orders by then from a major campaign contributor. New York Governor Eliot Spitzer, the former thorn in the side of the Wall Street bankers, has been summarily disposed of; and under the latest proposal of U.S. Treasury Secretary Hank Paulson, the Federal Reserve itself will soon become the chief overseer and regulator of the banks. The Federal Reserve will regulate the Federal Reserve Boards with their litany of private bank CEOs, a clear case of the fox guarding the henhouse."
A conference call is certainly necessary here to keep the sheep complacent.
Cheers,
Sorry...story.
Web of Debt - WHAT’S THE DIFFERENCE BETWEEN LEHMAN BROTHERS AND BEAR STEARNS?
Cheers,
I wonder how big a tractor it takes to plow houses under...
Back to watching the US Open. Rocco is even, Tiger is +1 at four.
How about "decorative" homes along the stretches of barren freeway roadside. It will be called the "Pleasant Roadways Initiative". It will be attached like all things to a war funding bill. "Don't you support our boys and girls?"
Anybody live blogging the call?
They're holding a conference call so that you can hear the tin cups.
We're turning into a nation of beggars.
I don't know how that works out well in the long term.
Maybe we should focus more on producing stuff and improving our businesses than begging the Federal Reserve and the US government for handouts.
...
NAHB pleading for Congress to save housing.
"where do you guys see yourselves in 5 years?"
"What would you consider your greatest strength? Your greatest weakness?"
NAHB begging for a large and unencumbered tax credit prior to the July 4th recess
NAHB pleading for Congress to save housing.
James Bednar | Homepage | 06.16.08 - 1:10 pm | #
For 'the children' no doubt...
Tiger and Rocco all even! I love this country!
dryfly,
"I wonder how big a tractor it takes to plow houses under..."
This?
YouTube -
Cheers,
Why dont they post this stuff somewhere on the web so you dont have to phone in? So eighties.
The oil bubble's money has to go somewhere after the burst.
I have been reading as much as I can trying to see where that cash will flow to next... not one clue has emerged.
China's bubble is crashing.
Housing is crashing.
Commodities are also going to be crashing.
Once rate eventually do start to rise, is everyone just going to stay CASH ?
NAHB begging for a large and unencumbered tax credit prior to the July 4th recess
Maybe the markets will respond rationally to the drop in revenues (and thereby the ability to service debt in real terms) by driving up interest rates, driving down the dollar, and driving up commodity prices.
Home builder guest CEO saying it is impossible to get loans anymore
This?
YouTube -
? v=tqQQh_r_4UU
Cheers,
Misean | 06.16.08 - 1:11 pm | #
Perfect Misean - absolutely perfect!
I wonder if it comes in green?
NAHB begging for a large and unencumbered tax credit prior to the July 4th recess
Wait, I can do better:
A large and unencumbered tax credit to be paid for by $5/gallon gas and 7% fixed mortgage rates.
Ha!
Homebuilder CEO guest saying that they can't hire teenagers and young adults this summer.
Think of the kids!
"I really should go into gov't..."
dryfly your to honest so therefore you wouldn't stand a chance.
C'mon Seiders, out with the damn numbers
HMI fell a point in June to 18
Re: where do you guys see yourselves in 5 years
Not here
Back to record low
New thread.
Dryfly writes:
"I wonder how big a tractor it takes to plow houses under..."
Talking your book Dryfly? A D50 would be about right but man, the price if diesel.
Speaking of the Midwest, how do you start a flood?
--
"What happened to Sebastian aheadofthecurve and O-Joe. Did they go into hiding?"
They have declared victory!
Jas
Speaking of the Midwest, how do you start a flood?
Rob Dawg | Homepage | 06.16.08 - 1:20 pm | #
Punch line?
dryfly,
Vacation day...
I'll try to pop some more of these things today.
I'm unsure of the Green thing however....
Cheers,
I'm unsure of the Green thing however....
I'm guessing he's a Deere man.
"So, the grasshoppers will be explaining to we ants why they need a cup of our uncle sugar to make it through the winter."
No - the Saudis will be asking the grasshoppers and the ants for something more valuable than what uncle sugar has been providing - a messy war essentially next door where the Shia/Iranian side looks to be the big winners. Unless someone goes nuclear, in which case, everyone in the neighborhood will be big losers.
And the Saudis will also be doing their best to keep us driving, at literally any cost (remember, the Saudis still have a lot of oil to sell), because otherwise, they will just be a small group of people in a big desert with a durable tourist mecca - or is that Mecca mecca?
To which infidels are not welcome, to put it mildly.
We need another home built and more shopping malls like we need a buggy whip for every person on earth. Screw these bastards and their taxpayer funded subsides.
sdtfs writes:
I'm unsure of the Green thing however....
I'm guessing he's a Deere man.
sdtfs | 06.16.08 - 1:28 pm | #
LOL - bingo!
"Unless someone goes nuclear, in which case, everyone in the neighborhood will be big losers."
This is where hydrogen comes in, start with Israel and don't stop until the whole damn middle east is covered in it. Enough of this BS.
Congress HAS acted urgently with the cooperation of the CEOs. They've shipped the domestic jobs overseas.
dryfly writes:
Speaking of the Midwest, how do you start a flood?
Rob Dawg | Homepage | 06.16.08 - 1:20 pm | #
Punch line?
Make fun of California and we send all our rain there.