"Its certainly unusual in Northern California, but its not unprecedented, said Phil Mahoney, principal and executive vice president of with Cornish & Carey Commercial/ONCOR International.
It can't happen in the Bay Area is turning into a slippery slope.
Stage 1: Contained.
Stage 2: Contained to elsewhere.
Stage 3: Certainly is unusual for it to be happening here, but not unprecedented.
Stage 4: AAAAAAHHHHHHHHHHH!
Silicon Valley and the 101 corridor up the peninsula were full of see-thrus in the early 90s. Just more realistic to stop with the steel than head onward with no prospects. I commend them.
Any old SV types remember the real eyesore -- the unfinished 280/101 overpass that sat like a big "x" above 280 for 10 years?
"Having too much CRE sucks for the banks/developers, but it could be a blessing in the near future economically"
I see a wave of creative start-up in the not to distant future once office space reaches the right price point.
It sure would be helpful though if some nice justice department would finish off the MicroSoft break-up that Bush refused to do to help things along...
Damn the Counterpointer Charter, I am not that thrilled with Cooper's Panopticon and Peer Review Service.
I predict it will have a chilling effect on the kinds of conversations here which benefited from the sense that the board was transient, ephemeral, limited to linear haloscan. Always moving on, get the comment up, arc at will.
I don't think certain posters are going to put up stuff of potential real interest and insight if they think the cooper archive is going to assess and store for a searchable posterity.
I won't. And there goes your G20 tip for the evening.
Tim and the Xmas Miracle at 7:02 Retail is moving to the Internet
Given this trend and the loss of tax revenues from all sources that municipalities are certain to endure, do you see an assault on tax free sales on the internet?
so hey...all this talk of SoCal CRE has me thinking: aren't a lot of the faithful readers, commenters (and lurkers) in Southern California?
I'm in Sandy Eggo right now, today was the last day of a conference - and would love to meet up with other CR'ers for a drink or perhaps dinner. Anybody around here?
Scott writes:
I'm in Sandy Eggo right now, today was the last day of a conference - and would love to meet up with other CR'ers for a drink or perhaps dinner. Anybody around here?
In LBC now Scott, otherwise I'd take you up on it. The wife is occupied elsewhere leaving me to roam the streets.
do you see an assault on tax free sales on the internet?
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
Nah...to pass in Cali it would have to be something anti-gay or smokers....or maybe something or other to do with children.
Talking about overbuilding CRE- What about GTA, Calgary and GVRD?
satan
Read about the local muni govt. in Vancouver co-signing 290M in loans for FIG - a hedge fund to complete projects. Vancouver annual operating budget is 300M. If these go south Vancouver is bk
Calgary heard about Encana's building being stopped. Lots of condos stopped midstream, too
Uncle Ar - I dunno if I should offer condolences or what...my first MIL, I wouldn't mind, my second, eh, not so much
Great Time to Buy - thanks, enjoy yourself, I know the feeling.
Comrade-Dope, I was up at George's on the Cove wed. - not a gun boutique neighborhood! I have enough guns for my needs at this time, but thanks - not sure what it would be like getting through TSA to get home with more tomorrow!
Atlanta is rapidly rising up in the ranks of the CRE disaster areas.
Downtown and midtown, the cranes still rise and build their monuments to exuberance and stupendous greed.
Drive around the northern ring of exurbs, and you'll find brand new shopping plazas devoid of tenants, save for a lonely dentist office or perhaps a Chinese take out joint.
Atlanta and other sun belt boomtowns like Phoenix may end up becoming partial ghost towns, as the promise of jobs-a-plenty and low taxes turn to dust.
do you see an assault on tax free sales on the internet?
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
Some states (like Texas) already have a Use Tax on their books that levy a sales tax on items brought in from out of state...what's lacking is the will and means to enforce it.
Clearly the delivery companies (UPS, FedEx, USPS etc) could be (unwillingly) coopted to enforce it.
The company that owns the Vino Piazza winery complex near Lodi has filed for Chapter 11 bankruptcy protection.
Copperford LLC, which does business as Vino Piazza, Olde Lockeford Winery and VIP Wine Group, filed a voluntary Chapter 11 petition Nov. 4 in U.S. Bankruptcy Court in Sacramento. The company has $10 million to $50 million in assets and $1 million to $10 million in liabilities, according to the petition.
Vino Piazza opened in 2002 in an old industrial complex that had started as a winery in 1946 and was converted into a gasohol plant in 1978. The owners, Don and Karyn Litchfield, refurbished the decrepit buildings into a stylish, Tuscan-style winery plaza housing 16 wineries, including their own Olde Lockeford Winery. They also put a fossil museum on the site.
The complex, located at 12470 Locke Road in Lockeford, now has eight wineries, an Italian restaurant and a banquet hall
B-, now, we are responsible purchasers via legal methods; store.
However, if things get tough, I need to figure out how to buy an AR15 with automatic capability. I presume that, here in California, that means hanging out on street corners, asking questions out of the side of my mouth.
My wife asks how my day was. I say oh fine, not much going on - except that the world economy is falling to pieces, and no one knows how bad it will get, just that it will be bad - anywhere from high unemployment and social uncertainty to mass unemployment, rioting in the streets and general chaos. How was your day?
Nice thing about the ending of daylight savings time for the year...can start drinking earlier (most be some damn Puritan streak that gives me the "guilts" for getting buzzed at high noon, as a rule).
Sorta OT, sorta not...'bout a year ago, was on SA, or someplace like it, and some dude commented re: weakness in the tech sector .."what does tight credit have to do with tech?" I shit you not...(sighs)
I wonder what percentage of them will go back to their places of origin. We talk about the Mexicans and Guatemalans going back home, but let's face it, a lot of the people in Phoenix, Vegas, Atlanta and Charlotte are "Mexicans" from the Rust Belt or other depressed American areas, who left their homelands to find work. They're going to go home, too.
Actually I have an open screwtop bottle already, but after I polish that off, I might go for the gusto and open a $30 cork-top (that's splurging for me).
Really? I could have sworn you had one a while back. I guess I'll have to wait until I finish downloading CRC to see it'll help searching back.
Scott- hope you enjoyed San Diego, got a few friends from out of town coming over (a mutual friend is getting married tomorrow.) Hey go look at those million dollar condos in downtown!
I don't think certain posters are going to put up stuff of potential real interest and insight if they think the cooper archive is going to assess and store for a searchable posterity.
Umm, it's on the web, it's being recorded You don't even need a web wayback service, I search the comments using normal old Google all the time.
They sold the land for $193mn. Would not cede title until completion, so they had to act as a guarantor for FIG's loan of $193mn, of which they got $36mn in cash up front.
Recently they gave a loan to the developers (Millennium) for up to $100mn (incl a built in $20mn contingency) out of the capital fund ($1.3bn). That loan is secured against the portfolio of properties of Millennium, as well as the personal assets of its directors.
There's about 720+ condo units, with one phase of pre-sales done (that money by Canadian law is held in escrow, 10% of purchase price in this case.)
If Millennium does not pay both loans back in full, then they do not get the title.
Worst case scenario is Millennium uses ~$60mn of the recent loan (construction is in final stage) and cannot pay it back. The city would then liquidate the assets of both Millennium as well as its directors. Let's assume they somehow get $0 out of it to stress test.
They take ownership of the 720 condos for $217mn ($193-36+100). A lot of the units are high end, selling for $800k-2mn since they went on sale; not the same market anymore. The break even cost for the city (assuming 0 recovery from developer liquidation) is ~$300k
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
Regardless of my political leanings, I actually don't want him to fail. But at the moment, my bet is that it will be whoever follows Obama who breaks from the failed mindset.
I know Krugman & Roubini are in vogue now but if you want real change, choose the guy who wrote the book about Flawed Communism and Flawed Capitalism.
Published in 1977 in expectation of the collapse of the USSR in 1989, followed by the collapse of the US.
THIS is the guy who should be a cabinet choice. Yes, yes, I know his history of failed predictions but it's BECAUSE he knew what was flawed so much earlier than Krugman or Roubini or Robert Reich.
I know this won't happen but at least I put the ball in motion here.
You are assuming that Vancouver is run by honest and competent people.
I have never seen a local government in any country I have been in that was not small minded, corrupt, incompetent and venal. The extent varies, but the direction is unmistakable.
//They take ownership of the 720 condos for $217mn ($193-36+100). A lot of the units are high end, selling for $800k-2mn since they went on sale; not the same market anymore. The break even cost for the city (assuming 0 recovery from developer liquidation) is ~$300k
EvilHenryPaulson//
OK, back on topic...well, sort of.. Silicon Valley Residential RE:
I am seeing a surge of listings (in October/November no less!) in the Los Gatos neighborhood where I sold in 2005. Prices there have been levitating until now. But there are now 10 houses for sale in mid-November, whereas the typical peak Spring/Summer selling season of recent years might have 6 or 7 at most.
From speaking with RE agents and former neighbors, I hear lots of stories of folks that can no longer afford their mortgages. One coming on the market soon is a general contractor who bought his house 15 years ago, but did a major remodel. With his work and pay down, he can no longer afford his mortgage. Sad and stupid. Another is a Realtor/Flipper who owns two houses on the same street. He has them both listed. But the one he lives in doesn't have a sign out front, and is not being marketed at all. Looks fishy, like he's trying to provide a comp on his own street or something.
Things are going to sour here, and quick. There aren't enough folks in this environment that are willing and qualified to soak up 10 houses priced at $1-2 million.
"actually Oklahoma declared sovereignty a few months ago,"
I read the link, and what came up, does NOT meet the definition of declaring "sovereignity". More of a declaration of seeking to roll back decades of fed. gov. encroachment on states' rights...
If he keeps up his environment, green energy, reduced consumption, telling companies what to make and social service core c**p - YES!
Broward Horne writes:
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
We sold in Fremont in 2004. Missed the last year of runup but our hold house is now back down to 2003 price and still falling. Had to take a lot of hell from the bubble crowd about how wrong we were.
We looked at buying in Los Gatos a few years back and it had all the signs of a bubble there as well. 1M++ houses being bought with 0% down.
We're doing working on 1.8 million sqft ( Moffett Towers ) of office space in NorCal. I believe its all unleased... Great product but scary place to be for a developer...
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
~~~
We saw that when he sent Madeleine Albright as his representative to the G20 meeting.
Obama will surround himself with B. Clinton's incompetents including Summers and Rubin ...
EvilHenryPaulson - how do you know city would be first in line to get ownership of structures, even if they still own the land? I suspect Millenium wasn't self-financed, and there are others ahead of the City in line.
actually my BIL makes his own beer, plum wine, mead, grape wine, etc.
He's damn good, too. There's a great little beercraft store right in berkeley with everything a home brewer needs. On my recent trip to CA after the daytime hiking activities we got ripped and played Rock Band 2. It was a blast.
If you buy into Schramm as a foundation, a shared context is mission #1. The Internet owes its success largely to single, mandatory protocol, TCP/IP. The Chinese understood the need for a single language over two thousand years ago.
So we can extrapolate a clear piece of The New Foundation - English as a mandatory language. Accepting and promoting othe languages is a political action, not an architectural one.
If you want a structure that works, you use architectural principles.
And I believe that minorities like Hispanics will eventually understand that demanding a common language is the politics of inclusion, not division. And vote accordingly.
English as a mandatory language, no more duplicate forms in other languages, no more translators, no more catering to marginal cases at high cost. Make RosettaStone available at a reasonable gov't-subsidized cost for self-learning. (disclaimer: I hold no US paper other than US$).
I learned touch-typing in ninety days using Mavis Beacon. There's plenty of computers available at libraries and busineses.
Now THAT is the kind of idea we need to see out of a new presidency.
You can NOT build a large, complex structure without a clean foundation.
(for the record, my brother is hispanic and my other brother and sister are fillipino)
Obama will surround himself with B. Clinton's incompetents including Summers and Rubin
Willem Buiter at FT went apoplectic when discussing Obama's economic advisers. Love the diss that one of the advisors (Villaraigosa) failed the bar FOUR times.
I just came back from lincoln where i went to see a house for sale. ALL the houses in that area were very very nice and very cheap. A house that would sell 600k a couple years ago now its down to 250-300k (i asked people living in that area). The area where i went was the lincoln crossing (i remember i passed a ferrari ranch road). Anybody knows why that area is so cheap? all the houses are absolutely beautiful and the price is too low for what they offer. is there a catch? my family is ready to buy a house there even though our work is in sacramento but we don't mind to drive if we 're gonna live in one of those homes. Anyone know why lincoln is so cheap? what's the catch? is it a good idea buying over there?
I read the link, and what came up, does NOT meet the definition of declaring "sovereignity". More of a declaration of seeking to roll back decades of fed. gov. encroachment on states' rights...
the poster fomerly known as ni
~~~~~~~~~~~
good point, but it was never possible to actually secede, as far as i know.
"We're doing working on 1.8 million sqft ( Moffett Towers ) of office space in NorCal. I believe its all unleased... Great product but scary place to be for a developer..."
The mind boggles. Maybe we could have novice explosive technician practice imploding these empty buildings. Would make some cool youtube videos.
Function,
I covered that. The city of vancouver guaranteed the loan from Fortress, because they did not want to cede title and therefore traditional financing could not be done.
They own it all, unless the loans are paid off. If the loans are not paid off and they own it all, that means they have to pay Fortress for the $193mn loan (of which they have $36mn in cash) because of the loan guarantee
Relative differences, not absolute. Some are more "optimistic" than others..
I think this is too large a problem for anyone to be receive just a glancing blow. The 8 ton elephant in the room is demographic profiles and government liabilities towards retirees.
Do you hear or see things that aren't there?
Pissed Off In California | 11.14.08 - 7:57 pm | #
A lovely launch. Full moon, no clouds. Nite lights up like a mini sunrise. The shuttle is way high before the rumble gets to me.
Big crowds to see the last nite launch (unless O extends the program). Hub won't try to leave for a while, as there was gridlock on I-95. On causeways & everywhere.
The US was once a very innovative country because it had
1] new infrastructure
2] decent jobs
3] willingness to try new things
4] a younger demographic profile
5] willingness to think beyond 6 months
6] Willingness to invest in risky innovation and basic research.
Now we have
1] decaying infrastructure and NIMBYs
2] unstable and poorly paying jobs
3] unwillingness to explore new frontiers (risk averseness)
4] an older demographic profile
5] unwillingness to think beyond 6 months or the christmas bonus (thank MBAs for ruining this country).
6] A tendency towards bureaucratic micromanagement and legal issues with innovation (must keep managers and lawyers employed)
EHP I dont know about how the land was financed but either way you have to think about the cost of capital on 100MM...
Whats worse is as you drive up to Summit every building you drive by has a CBRE or other leasing sign out front. There must be a half million sqft vacant on that street before you get to the 100 acres. The current building is something like 250K sqft...
There are plans for a dozen more of the same size.... I dont see it happening in the next 5 years....
satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
Our aging population is definitely losing its innovation / entrepreneurism....
How many of you realize that the 2 shuttle solid rocket boosters + five Atlas V engines (stage 1)+ a cluster of J-2X engines (stage 2) + J-2X (Trans lunar injection stage) could send people to the moon at a lower cost than a shuttle launch.
But they have to kill all the older people in power first
//satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
//
Diego has lots and lots of sprawl. So lots of people drive by this place on their way in to work.
Strangely enough most of the people driving by this place are from the locations that CR has been talking about. Comunitites in the middle of no where that probably shouldnt have been built in the first place.
The I-15 south is a major road that runs from Temecula and the Inland Empire and Riverside. Massive pain there....
"How many of you realize that the 2 shuttle solid rocket boosters + five Atlas V engines (stage 1)+ a cluster of J-2X engines (stage 2) + J-2X (Trans lunar injection stage) could send people to the moon at a lower cost than a shuttle launch."
How many of you realize that dumpster diving at grocery stores and restaurants provides meals far cheaper than actually going into said establishments?
What does it say about a country which could send 4-5 people to the moon at less than 500 million per shot, a couple of times a year but chooses to send a stupid overtly complex white elephant in earth orbit?
Another gritty irony of the welfare for the rich bailout is that credit card companies will borrow tax payer money at 1 - 1.5 % ...... and charge Americans 33 pct to borrow these dollars from them. This is a national disgrace.
Over the past eight years, the academics, big box retail, and the financial industry have formed an unholy alliance that have convinced us that mercantilist trade is good. Adam Smith never said that trade should be allowed to destroy a country, and neither should we. We have been fools, allowing our domestic industries to be wiped out.
The manufacturing base in Detroit, and the family level blue collar wages, are not the cause of this mess. The legacy pension and health care costs need to be negotiated back to reality. But, at the end of the day, we are talking about the core of the American middle class. Three million, high paying, American jobs. Iwould rather tell the Japanese and Chinese to take a hike than to continue with our current policies.
"A lovely launch. Full moon, no clouds. Nite lights up like a mini sunrise."
When Oppenheimer was informed that Hiroshima had been bombed, his first question was, "Did you drop it at night?" He was disappointed by the negative answer.
I'm just wondering what we'll name the newest little bastard to the clan. I'm thinking 'carport' would be a good name. You betcha! But Todd prefers 'camper.' FYI, Levi doesn't have say in this.
I am talking about a full fledged apollo type mission where astronauts could stay for a few weeks on the surface of the moon.
Disposable launchers can put 1 kg in Low earth orbit (LEO) for less than 3 thousand dollars. Putting 150 tons in LEO (15 % more than the apollo missions) would cost less than 500 million.
So, did I miss any Red letter events today? I had the privlege of the endodontist's hands, needles, drills & gadgets in my mouth. Ain't nothing like a root canal to start the day.
I see, the chosen one; Paulson, spoke in tongues as the self-designated "collective" and we as a nation are humilated. Sure would like to see him in the dentist chair having his teeth drilled on sans novacaine, like in Marathon Man.
i wish i hadn't voted for Ron Paul for SecT (for shoots&giggles) on the NYT site, or i would write in Batra.
love this: "My humble request for Mr. Obama is to add a small cut in the self-employment tax to his plan, from the current 15.3% to 12% over two years. After all, small businesses don't outsource jobs; they create them."
and while my skeptical side agrees with you on O, after reading this article:
serf Alan Greenspend writes:
actually Oklahoma declared sovereignty a few months ago, come to think of it. actually passed the resolution.
They already get more money back from the federal government teat than they put in. Talk about dependent on the federal teat...yet their state motto is 'labor conquers all.' I say let's just strip their statehood and allow Texas or Kansas to annex them ...such a drain on the union.
1] Assemble a nuclear powered mars mission in 2-3 launches (less than 3 months to mars)
2] Send Large Nuclear powered probes throughout our solar system
3] Send probes beyond our solar system in a couple of years (instead of the 20 odd years and multiple gravity assists)
4] Create stable high tech jobs!!"
We could just pay people 100K a year to dig holes for 4 hours a day and then fill them in for the 4 after lunch.
Would waste fewer scarce resources.
See, it's not "JOBS" it's wanted product. Sending probes hither and non really doesn't bring anything to the great market place that the rest of us toil in. Always think of economics in terms of barter.
Fruit Vendor: You want to trade what for my apples?
NASA Nerd: Photos of Pluto.
Fruit Vendor: Erm, No thanks.
And if you say some will pay for them, well cool. Then let them finace these launches etc. themselves.
OT, but boy has this got me riled up. Do they think we are complete idiots?
"Freddie also had a $1.1 billion loss from short-term unsecured loans made to Lehman Brothers Holdings Inc. a few weeks before that investment bank filed for bankruptcy on Sept. 15."
While I like Volker as well, I just don't know about a comeback tour for an 81 year-old those are rarely successful. Roubini, Stiglitz, Krugman would work. I don't want any of this tinkering around the edges BS.
I wonder how much fudging Elaine Chow has done in the BLS. We know those figures have been bogus for years now.
The most Volcker-like realistic choice for Secy treasury is probably Geithner, Pres of the NY Fed, which was Volcker's post before becoming Fed Chairman.
Volcker is not realistic because he is 81, which is older than McCain.
Roubini is an academic, and academics are not commonly tapped to be Sec of Treasury. Doesn't make it impossible. But I don't think he has the management skills necessary. Don't confuse good forecasting with the skils needed to be Sec of Treasury. Though good forecasting would be a nice addition.
Stiglitz could be possible, given his World Bank stint. I don't know why his name has n't received more attention . . . but it could be because he is being considered. The Obama people run a tight ship.
Personally, I think Geithner would be a good choice. Or Laura Tyson.
Just as importantly, under Obama the Sec of Treasury position will not be what it is now. There will be other active advisors on the economy, in and out of the cabinet (including Volcker), and Obama will not be the mindless sack of Bush that the current President is.
These past few months we've seen things turned over to Paulson that a President would normally do, like lobbying Congress for a massive emergency package. Bush couldn't it do it for lack of political capital and brains. Come January 20, things will be different, and Obama will drive major economic policy.
"Technology can create new jobs if you allow it to!"
I've heard this hackneyed crud for years. All of those things were under development for years. Like all new tech it's expensive. Like LCD's used to only be purchased by the wealthy.
Same with a whole host of items. The bov't spends OPM, so when the developers of these techs could suck on Uncle Sugars BIG friggin' teet, they did. It does not preclude that they would still be produced. It just meant that the biggest deep pocket on the face of the planet, The Pentagram, went OOOOOOOOOOO! gimmee.
Sorry, I'm not picking on you, it's just that I've researched the hell out of this, and all we really got out of the moon missions was a hand full of rocks. I got rocks in my head, that I'd sell cheaper than those.
Did von braun or korolev ever imagine that their rocket technology would one day be used to launch satellites for distributing pay-per-view adult channels, and thus keep many failed actresses in porn valley employed?
yes. and remember that they won't be on their own, as Paulson is in the Bush White House. there will be other active advisors and Obama will play the major role in policy decisions.
did you read the reports about his meeting with Gen Petreus in Iraq? He explained the chain of command to Petreus, who was used to being worshipped by McCain and being set loose by Bush.
on the economy there is going to be a deep and broad bench of advisors. The Secy of Treasury is an important post, but I think we are making too much out of it based on the current prominence of Paulson. that just won't continue.
It can, if you stop bureaucrats and lawyers from c**pping in the system.
//I've heard this hackneyed crud for years. All of those things were under development for years. Like all new tech it's expensive. Like LCD's used to only be purchased by the wealthy.//
I work in transportation services, the National Forest Service is moving to multiple (250 for our little neck of the woods) credit card payments instead of 1 card for all payments?
"Did von braun or korolev ever imagine that their rocket technology would one day be used to launch satellites for distributing pay-per-view adult channels, and thus keep many failed actresses in porn valley employed?"
Good one. ROFL!
Plantagenet beat me to the microwave rebuttal.
Knurd!
OOO CNBS is replaying the highcost of prostitution thing. I hope they added the Maria segment.
"I work in transportation services, the National Forest Service is moving to multiple (250 for our little neck of the woods) credit card payments instead of 1 card for all payments?"
Perhaps they think that some are buying shite for themselves, and if everyone who could purchase had their own number they could figure out who?
Treasury claims that they are the only capital available, which of course is bullshit.
With interest rates at 1 % ? Yeah, the GS bailout is the only game in town. With transparency, oversight, and fair markets, there is a huge amount of capital available.
I hear that W has had a total blood replacement from Keith Richards. This is totally bullish, call Dow 8900. Group of 20 will bow down and worship the descendent of olympus and start buy more securitized type products from the mills of ye olde Wall St. Never say never. Condolences, that you.
Westinghouse and Edison were vying for their electricity producing methods to be adopted Edison (dc) Westinghouse (ac) Edison fought and won to get the electric chair (ac) used in NY state for the death penalty to show how dangerous AC was. He tried to get NY to refer to the electric chair as the Westinghouse chair to no avail.
That video of the day is priceless. Everyone of those bubbleheads should have their tongues removed, after they publicly apologize to Schiff and their viewers.
"Would any of you happen to have a list of the banks on FDIC's death watch or a link?" I believe that is top secret info, until the bank fails, or is acquired.
NASA gave the world awesome photos of the greenhouse effects; holes in the ozone and the ice caps melting. And proof that the world is round and pretty and blue and green. Cool stuff
NASA spinoff: GOLF BALL AERODYNAMICS - A recently designed golf ball, which has 500 dimples arranged in a pattern of 60 spherical triangles, employs NASA aerodynamics technology to create a more symmetrical ball surface, sustaining initial velocity longer and producing a more stable ball flight for better accuracy and distance.
mmckinl writes:
"really , the same tax rates that Eisenhower had ?"
In those days, the economy and the world were quite different, but it was not unusual for wealthy people to shop for nationalities to avoid punitive taxes. The standard of living was much lower, and there was a huge cash economy that was largely untaxed. That environment had a lot to do with the creation of the tax avoidance industry. All interest was deductible. Most R&D was government funded. A very different world. You can't just changes the tax structure without changing the entire economy, to a great extent in ways that probably would not like.
From Forbes: According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 TRILLION, so far, in an attempt to arrest a collapse of the financial system .The estimate includes many of the various solutions cooked up by Paulson and his counterparts Ben Bernanke at the Federal Reserve and Sheila Bair at the Federal Deposit Insurance Corp.
Paulson and Bernanke are the team winners of the BIGGEST LOSERS.
Hardware store list:
tar
feathers
cauldron
plywood to build platform
rope
Please note the word "pipeline" in reference to the 32 mil sqft (MSM always like to throw those kinds of figures around...). Thus, I'll clarify that there is very little spec space actually under construction here in Silicon Valley, and those that are were prudently phased. As Sobrato says, lessons were learned during the tech bust. For what it's worth, in case this story leaves you with the misperception of rampant eyesores here in Silicon Valley...
I live and work in Santa Clara County (aka the Silicon Valley). There are a ton of for lease signs everywhere. There are brand new buildings for lease across the street from Yahoo! headquarters, around the corner from Google and Yahoo! (Moffett Towers), all along Central Expressway, which goes from SJC airport to Palo Alto, and everywhere else you might go. To me, this office glut is worse than it was in 2000-2003. It is amazing the number of new projects that have been built, or started since 2005. And it isn't just office space but large commercial retail developments. There is a big fight going on over Vallco Fashion Mall that was to be turned into CupertinoSquare, an upscale mall to compete with our already upscale Stanford Mall, and Valley Fair Mall/Santana Row shopping centers.
That said, residential rentals seem to be in high demand and prices have gone up a lot in just the past year in many areas. And it was already expensive before.
As a native of Menlo Park and former classmate of John's daughter Sherri I am somewhat surprised to hear this from a man that knows how to get things done , I recall the early eighties when my parents sold per their retirement it was bad how much worse could it be now?
Suppose its time for S.U., PARC, and the valley to come up with a new round of chatchkis like P.C.'s, I-whatevers, etc..., for the next pump-job! We most certainly will not be replanting Almond Trees.
Uncle Ar - I only made one trip to the gaslamp this visit, but have made several in the past, and it's a great area. A little too...young?...for me after 10...wound up having dinner at Parallel 33, and it was lovely.
""nades writes:
satan writes:
4] a younger demographic profile
satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
Our aging population is definitely losing its innovation / entrepreneurism.... ""
first?
Damn that plugin rocks
Thank you Ke
and w/o the firefox tool! just dumb luck.
No we have to get used to waiting for others to arrive
No = now
They must actually be reading the post and the referenced article
32 million sq ft
Impressive.
Just the beginning ....
The USA is going into a tailspin ...
"We have enough product to satisfy demand for 2009 and 2010" and 2011 and 2012 and 2013 and ...
the mentioned area basically surrounds San Jose
Cupertino, Sunnyvale, Palo Alto, maybe Fremont
"Its certainly unusual in Northern California, but its not unprecedented, said Phil Mahoney, principal and executive vice president of with Cornish & Carey Commercial/ONCOR International.
It can't happen in the Bay Area is turning into a slippery slope.
Stage 1: Contained.
Stage 2: Contained to elsewhere.
Stage 3: Certainly is unusual for it to be happening here, but not unprecedented.
Stage 4: AAAAAAHHHHHHHHHHH!
Silicon Valley and the 101 corridor up the peninsula were full of see-thrus in the early 90s. Just more realistic to stop with the steel than head onward with no prospects. I commend them.
Any old SV types remember the real eyesore -- the unfinished 280/101 overpass that sat like a big "x" above 280 for 10 years?
"The company...started the project in August." Then sack the boss.
Plug in web page? Thanks.
Population of city proper: 900k
Population of census metro area: 4.2mn
Population of loose metro area: 7mn
If you assume half the population is in the labour force, then that is a lot of new office space (32mn sq ft) coming on stream.
Having too much CRE sucks for the banks/developers, but it could be a blessing in the near future economically
Tons of See through buildings off of 101
Damn, speed, beat me to it. Guess that's why your tag is "speed".
Given the overbuilding of CRE we shouldn't need anything new for a very long time. That is, unless future rioters "burn off" some of that excess.
Steelhead - Add on for Firefox called CR Companion by Ken Cooper. released today. Check out Firefox/Mozilla Add Ons
"Any old SV types remember the real eyesore -- the unfinished 280/101 overpass that sat like a big "x" above 280 for 10 years?"
Bob Dobbs
Yup. A monument to public works.
Comrade Bear (tj & the bear)
CRE is done. Retail is moving to the Internet and there is more than enough room for "Showrooms".
Public. Housing.
here is a handy interactive chart for explaining a deflationary spiral to friends and loved ones-
404 Page not found
32000000 / 100 = 320000
sq.-ft. / sq-ft-per-employee = employees
Even without the doom, that much space was unneeded.
Bob H
"Damn that plugin rocks"
Link?
Ken Cooper:
Thanks for that very useful plug-in, CR Companion
. Although you should have named it "Lucy A." in a nod to a true CR Companion.
Now I have to re-visit a bunch of very old posts to optimize it. And to proclaim "last", of course.
Thanks again. I rate you EXCELLENT, sir!
Forgot work from home, teleconferencing, and Virtualization no need for all that office space...
"32000000 / 100 = 320000
sq.-ft. / sq-ft-per-employee = employees"
Canz I haz bigger cube plz?
Tech will be in for a very hard time ...
Just look at Intel's announcement ...
Once you've got your 40" plasma in the bathroom .... where to next ?
"Once you've got your 40" plasma in the bathroom .... where to next ?"
Underwater in the pool of course!
I hope they humiliate Neel again next week - and this time, I want video of his face when he absorbs the insults.
"Once you've got your 40" plasma in the bathroom .... where to next ?"
Plasma floors and immersion rooms.
Virtual windows.
Electronic whiteboards.
Virtual paintings.
No end of fun stuff once it gets cheap enough.
@EHP
"Having too much CRE sucks for the banks/developers, but it could be a blessing in the near future economically"
I see a wave of creative start-up in the not to distant future once office space reaches the right price point.
It sure would be helpful though if some nice justice department would finish off the MicroSoft break-up that Bush refused to do to help things along...
Damn the Counterpointer Charter, I am not that thrilled with Cooper's Panopticon and Peer Review Service.
I predict it will have a chilling effect on the kinds of conversations here which benefited from the sense that the board was transient, ephemeral, limited to linear haloscan. Always moving on, get the comment up, arc at will.
I don't think certain posters are going to put up stuff of potential real interest and insight if they think the cooper archive is going to assess and store for a searchable posterity.
I won't. And there goes your G20 tip for the evening.
People wonder how capital gets vaporized.
This is how conversational capital get vaporized.
CC
Estimated time until a picture (and accompanying rant) appears on Kunstler's blog?
The first 10 years of the 21st century will be known as the Conspicuous Consumption Decade.
I'm guessing that by 2020 Americans won't be overweight anymore.
I'm sure we all need to upgrade to 3D teevees around 2016 - and that will pull us out of the Palin Depression.
"Underwater in the pool of course!"
heh... I thought I was kidding... apparently not.
404 Not Found
Canz I haz bigger cube plz?
sm_landlord | Homepage | 11.14.08 - 7:07 pm
Your cube is 10x10. Damn, you must be in manaagement or something.
Tim and the Xmas Miracle at 7:02 Retail is moving to the Internet
Given this trend and the loss of tax revenues from all sources that municipalities are certain to endure, do you see an assault on tax free sales on the internet?
so hey...all this talk of SoCal CRE has me thinking: aren't a lot of the faithful readers, commenters (and lurkers) in Southern California?
I'm in Sandy Eggo right now, today was the last day of a conference - and would love to meet up with other CR'ers for a drink or perhaps dinner. Anybody around here?
CR, you are getting GRUMPY:
"...Talk about an eyesore..."
"...Philadelphia: a Bank?..."
"...Speak for yourself Mr. Paulson..."
What's the genesis of your grumpiness, sir?
Counterpointer:
so what was your G20 tip for the evening?
I'm in San Diego but have to go the Mother in Law's house for dinner.
We have enough product to satisfy demand for 2009 and 2010, Mahoney said.
And 2011, and 2012, and 2013...
This is how conversational capital get vaporized.
CC
Comrade Counterpointer
Scott writes:
I'm in Sandy Eggo right now, today was the last day of a conference - and would love to meet up with other CR'ers for a drink or perhaps dinner. Anybody around here?
In LBC now Scott, otherwise I'd take you up on it. The wife is occupied elsewhere leaving me to roam the streets.
serf Alan: good post, not rated
Love to Scott (I'm in La Jolla), but my son and I are going gun shopping tonight.
Maybe you want to join us?
do you see an assault on tax free sales on the internet?
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
der spiegel got a hold of merkel's list of reform proposals for the g20. very reasonable and doable. no idea what will happen behind closed doors -
404 Page not found
GLOD is up ... where are all the glodniks ... ? ;- )
Talking about overbuilding CRE- What about GTA, Calgary and GVRD?
Tim & the Xmas Miracle writes:
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
Nah...to pass in Cali it would have to be something anti-gay or smokers....or maybe something or other to do with children.
serf Alan Greenspend
Japan wants the US and English banks to come clean ! lol !
VV,
been out all day, just catching up.
i just installed the firefox plug-in a little bit ago, not sure yet how the ratings work or if it's a good idea.
i do LOVE seeing the mortgage pig pop up!
Basel - no.
CC
mmckinl,
they can have our highly leveraged opaque derivatives when they pry it from our cold dead hands!
Talking about overbuilding CRE- What about GTA, Calgary and GVRD?
satan
Read about the local muni govt. in Vancouver co-signing 290M in loans for FIG - a hedge fund to complete projects. Vancouver annual operating budget is 300M. If these go south Vancouver is bk
Calgary heard about Encana's building being stopped. Lots of condos stopped midstream, too
wowowo
I wish someone could come up with a starter kit to create a S&L and at the same time apply for TRAP.
If someone knew the rules i would be more than happy to write a program.
Dont know why but the song Mrs. Robinson is going through my head...kinda like a parting cheer
Uncle Ar - I dunno if I should offer condolences or what...my first MIL, I wouldn't mind, my second, eh, not so much
Great Time to Buy - thanks, enjoy yourself, I know the feeling.
Comrade-Dope, I was up at George's on the Cove wed. - not a gun boutique neighborhood! I have enough guns for my needs at this time, but thanks - not sure what it would be like getting through TSA to get home with more tomorrow!
Well, I'll raise a glass to my fellow Cassandras!
REBear writes:
I wish someone could come up with a starter kit to create a S&L and at the same time apply for TRAP.
~~~~
try Legal Zoom ...
but my son and I are going gun shopping tonight.
Maybe you want to join us?
Comrade-Dope jg (jg)
Depends:
So, does this mean going to a store or hanging around the District, on a corner, ask'n around?
Atlanta is rapidly rising up in the ranks of the CRE disaster areas.
Downtown and midtown, the cranes still rise and build their monuments to exuberance and stupendous greed.
Drive around the northern ring of exurbs, and you'll find brand new shopping plazas devoid of tenants, save for a lonely dentist office or perhaps a Chinese take out joint.
Atlanta and other sun belt boomtowns like Phoenix may end up becoming partial ghost towns, as the promise of jobs-a-plenty and low taxes turn to dust.
Where will the modern day Okies go?
do you see an assault on tax free sales on the internet?
Of course but what form it would take I don't know. in the future it would probably be added through a voter proposition. It would be called a "High speed rail tax" or something. Slowly but surely...
Some states (like Texas) already have a Use Tax on their books that levy a sales tax on items brought in from out of state...what's lacking is the will and means to enforce it.
Clearly the delivery companies (UPS, FedEx, USPS etc) could be (unwillingly) coopted to enforce it.
It's coming, and soon, bank on it.
Hi Barley,
My question was rhetorical. My point is that CRE is going to take it in the balls just as badly as RE in Canada.
So much for REITs..
REBear writes:
I wish someone could come up with a starter kit to create a S&L and at the same time apply for TRAP.
REB,
Not exactly what you're looking for but it's still free .gov $$
Government Money Club | Government Money Club
The company that owns the Vino Piazza winery complex near Lodi has filed for Chapter 11 bankruptcy protection.
Copperford LLC, which does business as Vino Piazza, Olde Lockeford Winery and VIP Wine Group, filed a voluntary Chapter 11 petition Nov. 4 in U.S. Bankruptcy Court in Sacramento. The company has $10 million to $50 million in assets and $1 million to $10 million in liabilities, according to the petition.
Vino Piazza opened in 2002 in an old industrial complex that had started as a winery in 1946 and was converted into a gasohol plant in 1978. The owners, Don and Karyn Litchfield, refurbished the decrepit buildings into a stylish, Tuscan-style winery plaza housing 16 wineries, including their own Olde Lockeford Winery. They also put a fossil museum on the site.
The complex, located at 12470 Locke Road in Lockeford, now has eight wineries, an Italian restaurant and a banquet hall
Hey, my first Hat-Tip! ...after three years! Good enough excuse to open a bottle of wine tonight.
B-, now, we are responsible purchasers via legal methods; store.
However, if things get tough, I need to figure out how to buy an AR15 with automatic capability. I presume that, here in California, that means hanging out on street corners, asking questions out of the side of my mouth.
satan - so was mine
lol!
ShortCourage writes:
Hey, my first Hat-Tip! ...after three years! Good enough excuse to open a bottle of wine tonight.
Screwtop or box?
My wife asks how my day was. I say oh fine, not much going on - except that the world economy is falling to pieces, and no one knows how bad it will get, just that it will be bad - anywhere from high unemployment and social uncertainty to mass unemployment, rioting in the streets and general chaos. How was your day?
Nice thing about the ending of daylight savings time for the year...can start drinking earlier (most be some damn Puritan streak that gives me the "guilts" for getting buzzed at high noon, as a rule).
Sorta OT, sorta not...'bout a year ago, was on SA, or someplace like it, and some dude commented re: weakness in the tech sector .."what does tight credit have to do with tech?" I shit you not...(sighs)
Where will the modern day Okies go?
central_scrutinizer
nowhere, they'll be stuck in their house 'cause they can't sell.
hmmm, interesting question though, there will be quite a number of newly minted homeless folks. historically there was hooverville. yikes.
Where will the modern day Okies go?
I wonder what percentage of them will go back to their places of origin. We talk about the Mexicans and Guatemalans going back home, but let's face it, a lot of the people in Phoenix, Vegas, Atlanta and Charlotte are "Mexicans" from the Rust Belt or other depressed American areas, who left their homelands to find work. They're going to go home, too.
For the first hat-tip, you deserve a quality fortified wine.
I recommend Vigorton!
discovered a dude drinking this on my stoop on Flickr - Photo Sharing!
MOT,
Actually I have an open screwtop bottle already, but after I polish that off, I might go for the gusto and open a $30 cork-top (that's splurging for me).
"I see a wave of creative start-up in the not to distant future once office space reaches the right price point."
actually i was thinking of massive rooftop gardens...maybe not mutually exclusive?
Maybe they'll trek from Napa Valley to Oklahoma this time around...
ShortCourage writes:
Hey, my first Hat-Tip!
Really? I could have sworn you had one a while back. I guess I'll have to wait until I finish downloading CRC to see it'll help searching back.
Scott- hope you enjoyed San Diego, got a few friends from out of town coming over (a mutual friend is getting married tomorrow.) Hey go look at those million dollar condos in downtown!
I don't think certain posters are going to put up stuff of potential real interest and insight if they think the cooper archive is going to assess and store for a searchable posterity.
Umm, it's on the web, it's being recorded You don't even need a web wayback service, I search the comments using normal old Google all the time.
BTW - I was so tickled by the name I bought a bottle of Vigorton in Belize some years ago. It is the worst-tasting swill you can conceive of.
serf Alan Greenspend
Bushtowns ?
Damn Gary, that looks like it would taste downright nasty!
Now is a GREAT time to apply for TARP ...
I'm not in it for the money. What if the number of TARP application grew to a million or something?
If HIG can do it, why can't ordinary citizens do it?
"there will be quite a number of newly minted homeless folks."
Obamabums
comrade tinman
"grow rooms " in office towers ?
Last of the 'old time' stimulus packages on the launch pad.
Space Shuttle set for a night launch on NASA-TV. It's what America used to do.
Wonder if either Bond Girl, or Comrade Misean dope will turn up to tell us about the new Bond flick...
Basel Too,
re: Olympic Village
They sold the land for $193mn. Would not cede title until completion, so they had to act as a guarantor for FIG's loan of $193mn, of which they got $36mn in cash up front.
Recently they gave a loan to the developers (Millennium) for up to $100mn (incl a built in $20mn contingency) out of the capital fund ($1.3bn). That loan is secured against the portfolio of properties of Millennium, as well as the personal assets of its directors.
There's about 720+ condo units, with one phase of pre-sales done (that money by Canadian law is held in escrow, 10% of purchase price in this case.)
If Millennium does not pay both loans back in full, then they do not get the title.
Worst case scenario is Millennium uses ~$60mn of the recent loan (construction is in final stage) and cannot pay it back. The city would then liquidate the assets of both Millennium as well as its directors. Let's assume they somehow get $0 out of it to stress test.
They take ownership of the 720 condos for $217mn ($193-36+100). A lot of the units are high end, selling for $800k-2mn since they went on sale; not the same market anymore. The break even cost for the city (assuming 0 recovery from developer liquidation) is ~$300k
mmckinl writes:
serf Alan Greenspend
Bushtowns ?
....
Or:
Paulson Parks?
Kashkari Kribs?
Bernake Bungalows?
Mozilo Motels?
Countrywide Cabanas?
comrade tinman writes:
"there will be quite a number of newly minted homeless folks."
Bushpeople
The problem with taxation is really very simple-
1] Governments should collect taxes for services they provide- real services (not extortion or BS).
2] The cost structure of these services has to be transparent.
2] Once governments start collecting taxes without providing a proportional increase in services, it is a slippery path to hell.
4] Taxation to pay for bloated pension plans, excessive administrative costs, kickbacks, sweetheart deals etc is the beginning of the end.
5] Governments often keep on increasing taxes (because they can) and kill the goose for the golden egg.
6] The end result is a country with poor public services, crime, lack of stable laws, due process and general decay.
7] If you think it cannot happen to 'your' country because of your skin color, language or culture- think again because it can.
OK, crispy. Back in the nick of time.
So you think the boys are using tarp as a verb yet?
Something like, "Let's go Hank. Let's TARP these MFers."
actually Oklahoma declared sovereignty a few months ago, come to think of it. actually passed the resolution.
WordPress.com
Basel Too,
re: Olympic Village
I have no idea what that was in response to, but thanks!
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
Regardless of my political leanings, I actually don't want him to fail. But at the moment, my bet is that it will be whoever follows Obama who breaks from the failed mindset.
I know Krugman & Roubini are in vogue now but if you want real change, choose the guy who wrote the book about Flawed Communism and Flawed Capitalism.
Ravi Batra.
404 Error - File not found!
Published in 1977 in expectation of the collapse of the USSR in 1989, followed by the collapse of the US.
THIS is the guy who should be a cabinet choice. Yes, yes, I know his history of failed predictions but it's BECAUSE he knew what was flawed so much earlier than Krugman or Roubini or Robert Reich.
I know this won't happen but at least I put the ball in motion here.
"grow rooms " in office towers ?
actually mmck, that's a great idea considering most of these are glass.
most of them too are not naturally efficiently cooled, that is, if you turn the AC off, the sun just bakes the inside of the building.
use the sprinklers for misters and pump in some CO2 thru the ventilation system and voila, instant lowcost artificial tropical rainforest.
who says you can't grow mangoes in NYC?
Basel Too, sorry that was meant for Barley
actually Oklahoma declared sovereignty a few months ago,
Thank God ...
We can get rid of Imhoff ...
and btw, i was originally thinking of industrial parks, storage units, warehouses etc.
Something like, "Let's go Hank. Let's TARP these MFers."
lol
i,
Nope, tomorrow. I'm not silly enough to go today.
"We have enough product to satisfy demand for 2009 and 2010,
I wonder if Lefty's does? Particularly the cheap stuff, cuz demand is gonna skyrocket.
Nostrovia,
You are assuming that Vancouver is run by honest and competent people.
I have never seen a local government in any country I have been in that was not small minded, corrupt, incompetent and venal. The extent varies, but the direction is unmistakable.
//They take ownership of the 720 condos for $217mn ($193-36+100). A lot of the units are high end, selling for $800k-2mn since they went on sale; not the same market anymore. The break even cost for the city (assuming 0 recovery from developer liquidation) is ~$300k
EvilHenryPaulson//
Woohoo! Ken Cooper, you're in my Hall of Fame. Quick! get dryfly and mp on line so I can induct them into my very own Cooperstown.
anyone see the DOW futures ?
yes I know fair value ... but still ...
OK, back on topic...well, sort of.. Silicon Valley Residential RE:
I am seeing a surge of listings (in October/November no less!) in the Los Gatos neighborhood where I sold in 2005. Prices there have been levitating until now. But there are now 10 houses for sale in mid-November, whereas the typical peak Spring/Summer selling season of recent years might have 6 or 7 at most.
From speaking with RE agents and former neighbors, I hear lots of stories of folks that can no longer afford their mortgages. One coming on the market soon is a general contractor who bought his house 15 years ago, but did a major remodel. With his work and pay down, he can no longer afford his mortgage. Sad and stupid. Another is a Realtor/Flipper who owns two houses on the same street. He has them both listed. But the one he lives in doesn't have a sign out front, and is not being marketed at all. Looks fishy, like he's trying to provide a comp on his own street or something.
Things are going to sour here, and quick. There aren't enough folks in this environment that are willing and qualified to soak up 10 houses priced at $1-2 million.
satan: 7] If you think it cannot happen to 'your' country because of your skin color, language or culture- think again because it can.
it already has?
"actually Oklahoma declared sovereignty a few months ago,"
I read the link, and what came up, does NOT meet the definition of declaring "sovereignity". More of a declaration of seeking to roll back decades of fed. gov. encroachment on states' rights...
Yes Ken, I have to say that I like the plug in. Nice work.
Nostrovia,
If he keeps up his environment, green energy, reduced consumption, telling companies what to make and social service core c**p - YES!
Broward Horne writes:
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
Gary - at some point we will all be making our own swill.
Say lets start a company. I know the perfect place to get venture money.
Barley and Gary's Swill Savings and Loan
Tag: Why get buzzed when you can get fleeced!
ShortCourage
do they have "Panic Rooms" ?
ShortCourage,
We sold in Fremont in 2004. Missed the last year of runup but our hold house is now back down to 2003 price and still falling. Had to take a lot of hell from the bubble crowd about how wrong we were.
We looked at buying in Los Gatos a few years back and it had all the signs of a bubble there as well. 1M++ houses being bought with 0% down.
Okay, now how do I rate a commenter very good and irritating?
Byz - I know teh googles does that but it's inconvenient, distributed and somewhat random.
Consolidated, centralized... Qualitatively different.
CC
We're doing working on 1.8 million sqft ( Moffett Towers
) of office space in NorCal. I believe its all unleased... Great product but scary place to be for a developer...
.......
Certain people on this board who hail from certain countries.. cough.. cough.. think that they are somehow immune to the full force of reality.
I have also seen many "educated" people (east coast) with left leanings that think so too.
it already has?
comrade tinman | 11.14.08 - 7:51 pm | #
Tag: Why get buzzed when you can get fleeced!
Barley | 11.14.08 - 7:53 pm | #
A free roofie in every glass!
Whatever happens to be left in customer's wallet goes into the tip jar.
"Silicon Valley CRE Slows"
does this mean a lot less blinky stuff at burning man this year?
Prediction - Obama will fail. Now, stay with me here. He's already showing signs that ego takes precedence over result. The constraints on cabinent members is guaranteed that we'll get people who play it safe and are unimaginative.
~~~
We saw that when he sent Madeleine Albright as his representative to the G20 meeting.
Obama will surround himself with B. Clinton's incompetents including Summers and Rubin ...
sdtfs,
I just rated myself irritating.
Nostrovia,
Where will the modern day Okies go?
Maybe we can fence off a new development that sounds rather exclusive to most 'Mericans, and put them there.
"Los Chabolas of Galveston"
Make sure to include a Bed, Bath & Beyond and I'm sure they'll be cool with it.
"Certain people on this board who hail from certain countries.. cough.. cough.. think that they are somehow immune to the full force of reality."
That's funny. I haven't met anyone on this board from Canada, US, Europe or Asia who has any belief in their immunity from what's coming.
Do you hear or see things that aren't there?
Where will the modern day Okies go?
Mexico?
,,,,,,,,
Misean: LOL!
I just rated myself irritating.
We're one step ahead of you Misean. :0
EvilHenryPaulson - how do you know city would be first in line to get ownership of structures, even if they still own the land? I suspect Millenium wasn't self-financed, and there are others ahead of the City in line.
barley,
actually my BIL makes his own beer, plum wine, mead, grape wine, etc.
He's damn good, too. There's a great little beercraft store right in berkeley with everything a home brewer needs. On my recent trip to CA after the daytime hiking activities we got ripped and played Rock Band 2. It was a blast.
Schramm communication model, my version superimposed on Coase's transaction cost theory -
http://www.realmeme.com/Main/costs/index.jsp
If you buy into Schramm as a foundation, a shared context is mission #1. The Internet owes its success largely to single, mandatory protocol, TCP/IP. The Chinese understood the need for a single language over two thousand years ago.
So we can extrapolate a clear piece of The New Foundation - English as a mandatory language. Accepting and promoting othe languages is a political action, not an architectural one.
If you want a structure that works, you use architectural principles.
And I believe that minorities like Hispanics will eventually understand that demanding a common language is the politics of inclusion, not division. And vote accordingly.
English as a mandatory language, no more duplicate forms in other languages, no more translators, no more catering to marginal cases at high cost. Make RosettaStone available at a reasonable gov't-subsidized cost for self-learning. (disclaimer: I hold no US paper other than US$).
I learned touch-typing in ninety days using Mavis Beacon. There's plenty of computers available at libraries and busineses.
Now THAT is the kind of idea we need to see out of a new presidency.
You can NOT build a large, complex structure without a clean foundation.
(for the record, my brother is hispanic and my other brother and sister are fillipino)
Obama will surround himself with B. Clinton's incompetents including Summers and Rubin
Willem Buiter at FT went apoplectic when discussing Obama's economic advisers. Love the diss that one of the advisors (Villaraigosa) failed the bar FOUR times.
FT.com | Willem Buiter's Maverecon | No change, no hope: Obama’s Transition Economic Advisory Board
Overheard on a Sacramento area forum:
I just came back from lincoln where i went to see a house for sale. ALL the houses in that area were very very nice and very cheap. A house that would sell 600k a couple years ago now its down to 250-300k (i asked people living in that area). The area where i went was the lincoln crossing (i remember i passed a ferrari ranch road). Anybody knows why that area is so cheap? all the houses are absolutely beautiful and the price is too low for what they offer. is there a catch? my family is ready to buy a house there even though our work is in sacramento but we don't mind to drive if we 're gonna live in one of those homes. Anyone know why lincoln is so cheap? what's the catch? is it a good idea buying over there?
Obviously didn't get the memo...
Blast off in 1 minute!
I read the link, and what came up, does NOT meet the definition of declaring "sovereignity". More of a declaration of seeking to roll back decades of fed. gov. encroachment on states' rights...
the poster fomerly known as ni
~~~~~~~~~~~
good point, but it was never possible to actually secede, as far as i know.
who says you can't grow mangoes in NYC?
comrade tinman
Who said anything about mangoes?
.......
ades,
"We're doing working on 1.8 million sqft ( Moffett Towers ) of office space in NorCal. I believe its all unleased... Great product but scary place to be for a developer..."
The mind boggles. Maybe we could have novice explosive technician practice imploding these empty buildings. Would make some cool youtube videos.
Nostrovia,
Function,
I covered that. The city of vancouver guaranteed the loan from Fortress, because they did not want to cede title and therefore traditional financing could not be done.
They own it all, unless the loans are paid off. If the loans are not paid off and they own it all, that means they have to pay Fortress for the $193mn loan (of which they have $36mn in cash) because of the loan guarantee
Relative differences, not absolute. Some are more "optimistic" than others..
I think this is too large a problem for anyone to be receive just a glancing blow. The 8 ton elephant in the room is demographic profiles and government liabilities towards retirees.
Do you hear or see things that aren't there?
Pissed Off In California | 11.14.08 - 7:57 pm | #
Make RosettaStone available at a reasonable gov't-subsidized cost for self-learning. (disclaimer: I hold no US paper other than US$).
Broward Horne
Try Language Learning with Livemocha | Learn a Language Online - Free!
Its free and kick ass... My hindi not so much buts only from lack of effort!
......
Obviously didn't get the memo...
mal
~~~~
I didn't either ... Lincoln ?
good point, but it was never possible to actually secede, as far as i know.
serf alan greenspend
~~~~
Imhoff won't know the difference ... nobody tell him ... lol
Misean,
Check out this one Summit Rancho Bernardo
Same developer. I think the dirt cost a million an acre... The buildings arent cheap either. There is only one right now. Totally empty.
Behind it is an old building that the developer got. (Will eventually tear down)
The tenant for that old build was none other than Accredited Home Lenders....
Its juxtaposition is almost art!
......
oh yea the site is 100 acres...
ades,
I strangely enjoy your CRE sales links. It feels like window shopping for something I don't want to buy, even though I could
Video of the day is priceless. Where's Ben Stein now? What a dufus.
Secession didn't work out so hot for South Carolina and the rest of the Confederacy.
That said, Inhofe is a cretin.
A lovely launch. Full moon, no clouds. Nite lights up like a mini sunrise. The shuttle is way high before the rumble gets to me.
Big crowds to see the last nite launch (unless O extends the program). Hub won't try to leave for a while, as there was gridlock on I-95. On causeways & everywhere.
Truly, as to some things, we are glorious.
Villaraigosa? The mayor of LA who spends most of his time doing press events...like 85%?
Missed that news flash.
I think I met start to like Obama. Take my mayor...PLEASE!
Knurd!
Nostrovia,
"Who said anything about mangoes?"
well, ganja can grown seasonally already in NYC extremely well without the use of artificial helpers.
mangoes on the other hand...
or coca for that matter
or coffee
or ayahuasca
That said, Inhofe is a cretin.
Gary
~~~~
Is that the way you spell it ? It's hard to bother with cretins ...
"good point, but it was never possible to actually secede, as far as i know."
serf alan greenspend
Well, actually, there WAS...round about 1860, or so?...didn't work out too well for the seccesionists, as I seem to recall reading.
Unit472,
The US was once a very innovative country because it had
1] new infrastructure
2] decent jobs
3] willingness to try new things
4] a younger demographic profile
5] willingness to think beyond 6 months
6] Willingness to invest in risky innovation and basic research.
Now we have
1] decaying infrastructure and NIMBYs
2] unstable and poorly paying jobs
3] unwillingness to explore new frontiers (risk averseness)
4] an older demographic profile
5] unwillingness to think beyond 6 months or the christmas bonus (thank MBAs for ruining this country).
6] A tendency towards bureaucratic micromanagement and legal issues with innovation (must keep managers and lawyers employed)
EHP I dont know about how the land was financed but either way you have to think about the cost of capital on 100MM...
Whats worse is as you drive up to Summit every building you drive by has a CBRE or other leasing sign out front. There must be a half million sqft vacant on that street before you get to the 100 acres. The current building is something like 250K sqft...
There are plans for a dozen more of the same size.... I dont see it happening in the next 5 years....
.....
Yep. Though your spelling reminded me of Imhotep, which would also be fitting.
ades,
From the location map on the 2nd CRE you posted.
Isn't that a bit, 'out there'? Or is that a regular commute from San Diego
ades,
"The tenant for that old build was none other than Accredited Home Lenders....
Its juxtaposition is almost art!"
Bwahahahahahahaha!
Empty eh? So they photoshopped the people in the picture. Or did they hire actors.
Glah!
Nostrovia,
CR, neutrality isn't an acceptable option at this point. Power will not exist in a vacuum and I'm sure you know that.
You need to figure out if you want more of the same politics that led us to where we are today.
satan writes:
4] a younger demographic profile
satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
Our aging population is definitely losing its innovation / entrepreneurism....
.....
Yep. Though your spelling reminded me of Imhotep, which would also be fitting.
~~~
how so ?
How many of you realize that the 2 shuttle solid rocket boosters + five Atlas V engines (stage 1)+ a cluster of J-2X engines (stage 2) + J-2X (Trans lunar injection stage) could send people to the moon at a lower cost than a shuttle launch.
But NIMBYs had to have their recyclable shuttles.
He is an evil, wrinkled mummy?
But they have to kill all the older people in power first
//satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
//
Broward Horne(Above Excellent) writes:
"You need to figure out if you want more of the same politics that led us to where we are today."
Hasn't Jas taught you guys anything?
Politics is imposed. Only naked force can change it. That won't happen for years. Just make what you can trading before the collapse.
EHP,
For most people its either
a. reverse commute
b. on their way to the city
Diego has lots and lots of sprawl. So lots of people drive by this place on their way in to work.
Strangely enough most of the people driving by this place are from the locations that CR has been talking about. Comunitites in the middle of no where that probably shouldnt have been built in the first place.
The I-15 south is a major road that runs from Temecula and the Inland Empire and Riverside. Massive pain there....
The whole area is a mess....
An ancient Egyptian joke.
I love this blog.
"How many of you realize that the 2 shuttle solid rocket boosters + five Atlas V engines (stage 1)+ a cluster of J-2X engines (stage 2) + J-2X (Trans lunar injection stage) could send people to the moon at a lower cost than a shuttle launch."
How many of you realize that dumpster diving at grocery stores and restaurants provides meals far cheaper than actually going into said establishments?
Nostrovia,
Where is everybody? I set my kill file to just include intelligent people and it's like I'm all by myself now.
What does it say about a country which could send 4-5 people to the moon at less than 500 million per shot, a couple of times a year but chooses to send a stupid overtly complex white elephant in earth orbit?
Misean you should see it... This guy builds sleek quality buildings. The LEND one is a total POS (thats not a ticker symbol!)
Gary writes:
He is an evil, wrinkled mummy?
~~~~~~~~~
Imhoff will never be compared to Imhotep ...
Just like I spell Boehner - Boner
Comrade Misean is Dope,
We already spend close to a billion on each shuttle launch! We could spend that to send those people to the moon - twice.
ades,
Now that I know the location, I have seen it. Thought it looked familiar. Credit bubbles waste talent. Sad really.
Nostrovia,
What no Pizza party?
I thought this was BFF?
Another gritty irony of the welfare for the rich bailout is that credit card companies will borrow tax payer money at 1 - 1.5 % ...... and charge Americans 33 pct to borrow these dollars from them. This is a national disgrace.
Over the past eight years, the academics, big box retail, and the financial industry have formed an unholy alliance that have convinced us that mercantilist trade is good. Adam Smith never said that trade should be allowed to destroy a country, and neither should we. We have been fools, allowing our domestic industries to be wiped out.
The manufacturing base in Detroit, and the family level blue collar wages, are not the cause of this mess. The legacy pension and health care costs need to be negotiated back to reality. But, at the end of the day, we are talking about the core of the American middle class. Three million, high paying, American jobs. Iwould rather tell the Japanese and Chinese to take a hike than to continue with our current policies.
I support the $25 billion loan to the heart land.
satan,
"We already spend close to a billion on each shuttle launch! We could spend that to send those people to the moon - twice."
Yeah but you can't dumpster dive or bando on the moon, as far as I know.
Oooohhh! You mean land 'em and push 'em out the airlock sans suit.
Cruel. But some people might pay for the footage.
Knurd!
Nostrovia,
Lawyerliz (Exalted) writes:
"A lovely launch. Full moon, no clouds. Nite lights up like a mini sunrise."
When Oppenheimer was informed that Hiroshima had been bombed, his first question was, "Did you drop it at night?" He was disappointed by the negative answer.
If we had a saturn 5 like rocket, we could-
1] Assemble a nuclear powered mars mission in 2-3 launches (less than 3 months to mars)
2] Send Large Nuclear powered probes throughout our solar system
3] Send probes beyond our solar system in a couple of years (instead of the 20 odd years and multiple gravity assists)
4] Create stable high tech jobs!!
I'm just wondering what we'll name the newest little bastard to the clan. I'm thinking 'carport' would be a good name. You betcha! But Todd prefers 'camper.' FYI, Levi doesn't have say in this.
satan (Overrated) writes:
"If we had a saturn 5 like rocket, we could ..."
Great, and then Morton Thiokol would be a bank holding company.
satan
If God wanted that he would have given us Saturn V's long ago ...
Besides Tom Friedman proved the world was flat ...
Cracker,
"What no Pizza party?
I thought this was BFF?"
Once again Sheila's leash was yanked when the close settled. She was in a California Pizza Kitchen in Newport Beach when the email hit her Crackberry.
I have the intercept.
Nostrovia,
Just out of curiosity - who would be acceptable choices for Obama economic advisors? Who would the aristocracy of this board deem suitable?
I don't mean joke choices like Ron Paul. Out of people who are politically viable candidates - who would you guys actually think are good enough?
Not so easy, is it?
Great, and then Morton Thiokol would be a bank holding company.
Plantagenet | 11.14.08 - 8:31 pm | #
And eligible for TARP, too...right?
Comrade Misean is Dope,
I am talking about a full fledged apollo type mission where astronauts could stay for a few weeks on the surface of the moon.
Disposable launchers can put 1 kg in Low earth orbit (LEO) for less than 3 thousand dollars. Putting 150 tons in LEO (15 % more than the apollo missions) would cost less than 500 million.
karelian
roubini , stiglitz
So, did I miss any Red letter events today? I had the privlege of the endodontist's hands, needles, drills & gadgets in my mouth. Ain't nothing like a root canal to start the day.
I see, the chosen one; Paulson, spoke in tongues as the self-designated "collective" and we as a nation are humilated. Sure would like to see him in the dentist chair having his teeth drilled on sans novacaine, like in Marathon Man.
broward, Ravi rocks.
i wish i hadn't voted for Ron Paul for SecT (for shoots&giggles) on the NYT site, or i would write in Batra.
love this: "My humble request for Mr. Obama is to add a small cut in the self-employment tax to his plan, from the current 15.3% to 12% over two years. After all, small businesses don't outsource jobs; they create them."
and while my skeptical side agrees with you on O, after reading this article:
Dept. of Odds: Aces : The New Yorker
there's a sliver inside that thinks that he's pulling a bluff (a head fake if you prefer a hoops metaphor).
like maybe even a 18-24 month bluff.
if so, then maybe Ravi's a dream meme worth percolating some more...
"When Oppenheimer was informed that Hiroshima had been bombed, his first question was, "Did you drop it at night?"
I always thought bombing civilians was uncool . . . or at least a violation of the ethical code of war.
satan
we should wait until gas falls more ... it'll be cheaper ...
I would prefer that a company which creates high tech jobs receive TARP assistance
//Great, and then Morton Thiokol would be a bank holding company.
Plantagenet | 11.14.08 - 8:31 pm | # //
p.s.
PROUT is blowin my mind even mo than the buddhist economics.
double thanks.
serf Alan Greenspend writes:
actually Oklahoma declared sovereignty a few months ago, come to think of it. actually passed the resolution.
They already get more money back from the federal government teat than they put in. Talk about dependent on the federal teat...yet their state motto is 'labor conquers all.' I say let's just strip their statehood and allow Texas or Kansas to annex them ...such a drain on the union.
karelian | 11.14.08 - 8:31 pm | #
Paul Volcker.
To hell with Summers and Rubin.
And I'm on your side!
Misean,
OT, but how was the Bond flick? Didja make it to the matinee?
That would be so cool satan, I would like to go to the moon!
volcker
"I always thought bombing civilians was uncool . . . or at least a violation of the ethical code of war."
Truman's diary: "The target will be a strictly military one."
satan,
"If we had a saturn 5 like rocket, we could-
1] Assemble a nuclear powered mars mission in 2-3 launches (less than 3 months to mars)
2] Send Large Nuclear powered probes throughout our solar system
3] Send probes beyond our solar system in a couple of years (instead of the 20 odd years and multiple gravity assists)
4] Create stable high tech jobs!!"
We could just pay people 100K a year to dig holes for 4 hours a day and then fill them in for the 4 after lunch.
Would waste fewer scarce resources.
See, it's not "JOBS" it's wanted product. Sending probes hither and non really doesn't bring anything to the great market place that the rest of us toil in. Always think of economics in terms of barter.
Fruit Vendor: You want to trade what for my apples?
NASA Nerd: Photos of Pluto.
Fruit Vendor: Erm, No thanks.
And if you say some will pay for them, well cool. Then let them finace these launches etc. themselves.
Nostrovia,
volcker, roubini, taleb
roubini , stiglitz
mmckinl | 11.14.08 - 8:33 pm | #
Second those choices as well.
And I would deport and/or prosecute Phil Gramm.
OT, but boy has this got me riled up. Do they think we are complete idiots?
"Freddie also had a $1.1 billion loss from short-term unsecured loans made to Lehman Brothers Holdings Inc. a few weeks before that investment bank filed for bankruptcy on Sept. 15."
Freddie Needs $13.8 Billion as Mortgage Defaults Worsen - WSJ.com
Cramer ...just kidding
solohedger (Unrated) writes:
"OT, but boy has this got me riled up. Do they think we are complete idiots?"
No, they think you are completely impotent. Are they wrong?
And where is Jas, I am tired of carrying his water.
I love Volcker to pieces - but is this the realistic alternative?
An 81-year old in an incredibly stressful position of dealing with a new Depression?
I don't know. This guy can actually remember when Kreditanstalt went bust.
Out. Good night all.
Found out where our money is going:
In The Know: Should The Government Stop Dumping Money Into A Giant Hole? | The Onion - America's Finest News Source
i,
Nope...Tomorrow...Never Dies.
Never opening night. Too crowded.
Nostrovia,
And I would deport and/or prosecute Phil Gramm.
~~~~
I'd tell you what I'd do for Phil Gramm , but I would be arrested ...
satan,
"The US was once a very innovative country because it had"
just my intuition but i really believe that once the deadwood is cleared, you will find the US still has those 6 things....
i.e. 1) how about all those developments above?
looks pretty new.
and those fiber optic cables?
the only deadwood is the corporations that own them currently, most of them suffocating on debt.
While I like Volker as well, I just don't know about a comeback tour for an 81 year-old those are rarely successful. Roubini, Stiglitz, Krugman would work. I don't want any of this tinkering around the edges BS.
I wonder how much fudging Elaine Chow has done in the BLS. We know those figures have been bogus for years now.
Comrade Misean is Dope,
You might want to read about
1] The history of integrated circuits (for the first 10-15 years used only in ICBMS and Air force Planes).
2] The Modern CPU (first one was used in the F-14)
3] Composite materials (initially developed for planes and missiles)
4] Large scale industrial chemistry (Developed for making explosives and gas warfare in WW1)
5] Programs for developing Antibiotics (funded by WW2)
6] Insecticides/ Pesticides/ Herbicides (WW1 and post WW1 chemical warfare research)
7] Anticancer drugs (WW1 chemical warfare research)
I can go on and on..
Technology can create new jobs if you allow it to!
I agree!
//just my intuition but i really believe that once the deadwood is cleared, you will find the US still has those 6 things....//
The most Volcker-like realistic choice for Secy treasury is probably Geithner, Pres of the NY Fed, which was Volcker's post before becoming Fed Chairman.
Volcker is not realistic because he is 81, which is older than McCain.
Roubini is an academic, and academics are not commonly tapped to be Sec of Treasury. Doesn't make it impossible. But I don't think he has the management skills necessary. Don't confuse good forecasting with the skils needed to be Sec of Treasury. Though good forecasting would be a nice addition.
Stiglitz could be possible, given his World Bank stint. I don't know why his name has n't received more attention . . . but it could be because he is being considered. The Obama people run a tight ship.
Personally, I think Geithner would be a good choice. Or Laura Tyson.
Just as importantly, under Obama the Sec of Treasury position will not be what it is now. There will be other active advisors on the economy, in and out of the cabinet (including Volcker), and Obama will not be the mindless sack of Bush that the current President is.
These past few months we've seen things turned over to Paulson that a President would normally do, like lobbying Congress for a massive emergency package. Bush couldn't it do it for lack of political capital and brains. Come January 20, things will be different, and Obama will drive major economic policy.
Innovation ?
Just hire a good lobbyist you idiots !
"I support the $25 billion loan to the heart land."
But I just heard a NY Times reporter say in an interview on Public Radio that while banks are vital to the US economy, home owners are not.
The logical conclusion of this premise is that the economy could exist without people.
When a society becomes populated with perfectly logical mad people, it is in big trouble.
I think Geithner would be a good choice. Or Laura Tyson.
~~~~
You call that thinking ?
I have a question.
What do you all think would have happened had that guy from the Columbia Business School been made head of the Fed.
I forgot his name but he had a funny video ripping bernake after he didnt get the job....
I'll find a link.....
Every Breath You Take....
YouTube - Every Breath You Take
I think its a riot!
satan,
"Technology can create new jobs if you allow it to!"
I've heard this hackneyed crud for years. All of those things were under development for years. Like all new tech it's expensive. Like LCD's used to only be purchased by the wealthy.
Same with a whole host of items. The bov't spends OPM, so when the developers of these techs could suck on Uncle Sugars BIG friggin' teet, they did. It does not preclude that they would still be produced. It just meant that the biggest deep pocket on the face of the planet, The Pentagram, went OOOOOOOOOOO! gimmee.
Sorry, I'm not picking on you, it's just that I've researched the hell out of this, and all we really got out of the moon missions was a hand full of rocks. I got rocks in my head, that I'd sell cheaper than those.
Nostrovia,
satan,
Well I'll give you Tang. But that is truly awful....so...
Nostrovia,
Comrade Misean is Dope,
Did von braun or korolev ever imagine that their rocket technology would one day be used to launch satellites for distributing pay-per-view adult channels, and thus keep many failed actresses in porn valley employed?
mmcknl
yes. and remember that they won't be on their own, as Paulson is in the Bush White House. there will be other active advisors and Obama will play the major role in policy decisions.
did you read the reports about his meeting with Gen Petreus in Iraq? He explained the chain of command to Petreus, who was used to being worshipped by McCain and being set loose by Bush.
on the economy there is going to be a deep and broad bench of advisors. The Secy of Treasury is an important post, but I think we are making too much out of it based on the current prominence of Paulson. that just won't continue.
Enjoy the night. I must go out. CRE is dead. Long live welfare.
and all we really got out of the moon missions was a hand full of rocks,
What about microwaves? Fantastic for heating up your coffee and making popcorn with alotta burnt kernels that stinks up the house and office!
"Every Breath You Take....
YouTube - ? v=3u2qRXb4xCU
I think its a riot!"
Ok, THAT'S the guy I vote for running the FED. haha
It can, if you stop bureaucrats and lawyers from c**pping in the system.
//I've heard this hackneyed crud for years. All of those things were under development for years. Like all new tech it's expensive. Like LCD's used to only be purchased by the wealthy.//
a couple more to add to the econ dream team:
Benoit Mandlebrot
Brooksley Born
Michael Milken (j/k...sorta)
Eliot Spitzer as head of the SEC
"What about microwaves?"
The first microwave oven was built in 1947. I don't think moon shots led to that.
rps writes:
Eliot Spitzer as head of the SEC
I like it.
Cavity resonance magnetrons were developed in WW2 for radars, your microwave is essentially a magnetron in a faraday cage
The first microwave oven was built in 1947. I don't think moon shots led to that.
Plantagenet | 11.14.08 - 8:57 pm | #
Oh ya, I like microwave popcorn!
OT, but at this point...its all OT.
I work in transportation services, the National Forest Service is moving to multiple (250 for our little neck of the woods) credit card payments instead of 1 card for all payments?
Why?
joe shmoe
odds are against Obama hearing what he needs to hear ...
It will be all half measures right into the ground.
"and Obama will play the major role in policy decisions."
Do you mean he'll vote "present"?
(snark now off)
So what "full measures" would save the Us economy now? What is this super cool plan that would prevent a decade-long depression?
Tell us, please!
satan,
"Did von braun or korolev ever imagine that their rocket technology would one day be used to launch satellites for distributing pay-per-view adult channels, and thus keep many failed actresses in porn valley employed?"
Good one. ROFL!
Plantagenet beat me to the microwave rebuttal.
Knurd!
OOO CNBS is replaying the highcost of prostitution thing. I hope they added the Maria segment.
Nostrovia,
So what "full measures" would save the Us economy now?
Sorry, no mulligans. We gotta pay the piper for 30 years of Reaganomics.
Cracker,
"I work in transportation services, the National Forest Service is moving to multiple (250 for our little neck of the woods) credit card payments instead of 1 card for all payments?"
Perhaps they think that some are buying shite for themselves, and if everyone who could purchase had their own number they could figure out who?
Just a guess.
Nostrovia,
Treasury claims that they are the only capital available, which of course is bullshit.
With interest rates at 1 % ? Yeah, the GS bailout is the only game in town. With transparency, oversight, and fair markets, there is a huge amount of capital available.
Would any of you happen to have a list of the banks on FDIC's death watch or a link?
karelian
Nationalize the Fed ...
FDR Bank Holiday ...
Medicare for All ...
Bankruptcy reform for real people ...
Tax Reform , no more loopholes, more progrssive, dividends and capital gains as income ...
the National Forest Service is moving to multiple (250 for our little neck of the woods) credit card payments instead of 1 card for all payments?
Why?
Cracker | 11.14.08 - 9:00 pm | #
Spreading the wealth around?
Just sayi
I hear that W has had a total blood replacement from Keith Richards. This is totally bullish, call Dow 8900. Group of 20 will bow down and worship the descendent of olympus and start buy more securitized type products from the mills of ye olde Wall St. Never say never. Condolences, that you.
I am all for universal healthcare and revamping Fed - but I'm afraid that is fairly unlikely to stop this avalanche.
For real.
Westinghouse and Edison were vying for their electricity producing methods to be adopted Edison (dc) Westinghouse (ac) Edison fought and won to get the electric chair (ac) used in NY state for the death penalty to show how dangerous AC was. He tried to get NY to refer to the electric chair as the Westinghouse chair to no avail.
karelian
noone will stop it but it can be mitigated ...
i agree...Hubbard for the FED!
"Tax Reform , no more loopholes, more progrssive, dividends and capital gains as income ..."
Followed by a mass exodus of capital from the country and a lively underground economy for those who remain.
That video of the day is priceless. Everyone of those bubbleheads should have their tongues removed, after they publicly apologize to Schiff and their viewers.
sm_landlord
really , the same tax rates that Eisenhower had ?
complexity: it will be less That guy "small is good"
what about Ivan Illovich about transportation.
obody seems to want to guess that the multiple lines is yet another attempt to overcome the credit contraction, which is what's driving the deflation.
An anecdotal for sure, but I dont think it has to do with theft, multiple lines increases the odds for success in fraud.
sportsfan is closer, its still just a single bank though.
Speaking of video and bubbles, the following OT video will snap your mind.
YouTube - Dolphin play bubble rings
Ken Cooper - you've screened for intelligence and your panopticon is empty?
Welcome to the law of unintended consequences.
More quants providing tech solutions while shttng all over the landscape. And on my doorstep.
Cease and desist, shtty quants.
CC
Scott, no condolences needed, the MIL is cool. You check out the gaslamp yet?
"Would any of you happen to have a list of the banks on FDIC's death watch or a link?" I believe that is top secret info, until the bank fails, or is acquired.
NASA gave the world awesome photos of the greenhouse effects; holes in the ozone and the ice caps melting. And proof that the world is round and pretty and blue and green. Cool stuff
look at message on blimp
look at blinkers across the sound
somebody told me about radio, what do you think?
we will rule the world, seems a bit uppity
NASA spinoff: GOLF BALL AERODYNAMICS - A recently designed golf ball, which has 500 dimples arranged in a pattern of 60 spherical triangles, employs NASA aerodynamics technology to create a more symmetrical ball surface, sustaining initial velocity longer and producing a more stable ball flight for better accuracy and distance.
I believe that is top secret info, until the bank fails, or is acquired.
Yeah, you can't even get anything out of FFDIC and I'm sure the first F is for 'former.
Why did I listen to a story on NPR this morning taking about "What if a deflationary spiral were to happen?"
I gotta tell, Im convinced we are in outright deflation at this point.
Yeah it's not an actual fdic list but one of the bank rating sites.
mmckinl writes:
"really , the same tax rates that Eisenhower had ?"
In those days, the economy and the world were quite different, but it was not unusual for wealthy people to shop for nationalities to avoid punitive taxes. The standard of living was much lower, and there was a huge cash economy that was largely untaxed. That environment had a lot to do with the creation of the tax avoidance industry. All interest was deductible. Most R&D was government funded. A very different world. You can't just changes the tax structure without changing the entire economy, to a great extent in ways that probably would not like.
Tang and Velcro
From Forbes: According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 TRILLION, so far, in an attempt to arrest a collapse of the financial system .The estimate includes many of the various solutions cooked up by Paulson and his counterparts Ben Bernanke at the Federal Reserve and Sheila Bair at the Federal Deposit Insurance Corp.
Paulson and Bernanke are the team winners of the BIGGEST LOSERS.
Hardware store list:
tar
feathers
cauldron
plywood to build platform
rope
ok, another OT question for the useless eaters.
Why did a Global bond rally occur
EXCEPT IN:
Japananese 15yr.
Germanany 6 month and 1 year
THE ENTIRE AUSTRALIAN YIELD SPECTRUM?
its a good question, because Sovereign debt is the system.
Damn, Mrs. Field's went bankrupt?!!, I liked their overpriced cookies.
RPS,
Make sure you get enough stuff at the hardware store to be used on more than one person. It will be a pleasure to round them up.
Does Sarkozy run the German Sovereign debt? Itallian? Greek?
This all ties back into why Iceland went down...
Back to G20? How many Sovereign bond issuers are gonna attend?
and how many Sovereign bond BUYERS?
I suppose the mortgage pig plug in has spoken.
sm_landlord
there still is a large tax avoidance industry, bigger than ever, in fact everything you described is now true ...
Higher tax rates will not abolish greed. If your friends don't like it they can move to Canada or Europe. Just don't plan on coming back ... ever.
Sovereign debt is the system
such a fine upstanding gentleman
(if we had seized the value of Iraq oil wouldn't we be sitting pretty)
more blather, another thread
Please note the word "pipeline" in reference to the 32 mil sqft (MSM always like to throw those kinds of figures around...). Thus, I'll clarify that there is very little spec space actually under construction here in Silicon Valley, and those that are were prudently phased. As Sobrato says, lessons were learned during the tech bust. For what it's worth, in case this story leaves you with the misperception of rampant eyesores here in Silicon Valley...
I live and work in Santa Clara County (aka the Silicon Valley). There are a ton of for lease signs everywhere. There are brand new buildings for lease across the street from Yahoo! headquarters, around the corner from Google and Yahoo! (Moffett Towers), all along Central Expressway, which goes from SJC airport to Palo Alto, and everywhere else you might go. To me, this office glut is worse than it was in 2000-2003. It is amazing the number of new projects that have been built, or started since 2005. And it isn't just office space but large commercial retail developments. There is a big fight going on over Vallco Fashion Mall that was to be turned into CupertinoSquare, an upscale mall to compete with our already upscale Stanford Mall, and Valley Fair Mall/Santana Row shopping centers.
That said, residential rentals seem to be in high demand and prices have gone up a lot in just the past year in many areas. And it was already expensive before.
As a native of Menlo Park and former classmate of John's daughter Sherri I am somewhat surprised to hear this from a man that knows how to get things done , I recall the early eighties when my parents sold per their retirement it was bad how much worse could it be now?
Suppose its time for S.U., PARC, and the valley to come up with a new round of chatchkis like P.C.'s, I-whatevers, etc..., for the next pump-job! We most certainly will not be replanting Almond Trees.
Uncle Ar - I only made one trip to the gaslamp this visit, but have made several in the past, and it's a great area. A little too...young?...for me after 10...wound up having dinner at Parallel 33, and it was lovely.
""nades writes:
satan writes:
4] a younger demographic profile
satan, I read a study that said the amount of entrepreneurism in a country of community is directly related to the age of the country. Well over half of the people in India are under 25. The demographics and potentials are amazing.
Our aging population is definitely losing its innovation / entrepreneurism.... ""
Nothing will happen in india.I know it.