Elko is a big truck stop and railroad junction ... much mining around there too ...
Will the public seizure of BoA, Shiti, JPMC, WFC,BNYM herald the rapture?
Elko is a big truck stop and railroad junction ... much mining around there too ...
Great Basin sinks.
Bankers steal their 250k/per depositor. Sheila becomes the low stack at the table.
If the podunk banks are dying (i.e. probably conservative standards), it stands to reason the aggressive ones aren't doing so good.
House numbah, everybody loses!
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Darn busy week!
So I have resigned myyself a few failures per wk until the commercial re tanks.
I wonder if any of the 19 will have balance sheets that are strictly worse than any of the failed banks.
--
The Zombie Apocalypse begins when U3 hits 15%
I'm in Las Vegas at the moment, and you guys hand me Elko? C'mon. Gimme something I can drive to.
_______________________
Other comments here on occasion.
Will the public seizure of BoA, Shiti, JPMC, WFC,BNYM herald the rapture?
Why do I have Georgia on my mind? (darn so song song!)
Tang is what real Americans drink.
assistant secretary for financial stability???? ROFL
next
assistant to the assistant secretary of bathroom renovations?
By Robert Schmidt and Rebecca Christie
April 17 (Bloomberg) -- President Barack Obama said he will nominate Fannie Mae Chief Executive Officer Herb Allison to run the Treasury office overseeing the $700 billion bank rescue.
Allison, 65, a former Merrill Lynch & Co. president, would replace Neel Kashkari, a holdover from the Bush administration, as assistant secretary for financial stability. If confirmed by the Senate, the choice gives Treasury Secretary Timothy Geithner the counsel of a Wall Street veteran as he confronts the biggest financial crisis since the Great Depression.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
DRINK
-could get sloppy, go easy...Im going for number three.
oh no. Only another million Elkos and you get 1 Bank of America or Citi.
The plan is to destroy all the regional banks so that Bank of American can gain market share and get further control of US banking.
A true patriort would boycot Bank of America, deposity, credit cards, loans, everything. Support you regional pro-American banks.
CR I miss the days of the Northern Rock run....memories...
Shhh.. you are scaring the sheeple!
____________________________
I wonder if any of the 19 will have balance sheets that are strictly worse than any of the failed banks.
____________________________
yogi. i've heard rumblings that many small banks are orchestrating their own "bailout" and bonuses, just like the big boys on wall street.
man, doing a google street view on this town is depressing (no offense to anyone), and it feels like a time warp. i'm surprised that the bank had $250M; it looks like a hole in the wall.
btw...I'm out and up 27% on the wk....woho...not my bestest wk but close to it!
Missouri? Nowhereville, Nevada?
I think they are practicing for BankU, and then BankU will be practice for one of the big biggies.
lawyerliz--finance the REOs.
The amazing thing is how a bank in Elko, NV managed to amass deposits over $200M. Officially its population is 16,000 but that's counting the cows and the sheep. I once had the misfortune of staying overnight with a flat tire, and the town is a dump albeit a dump off Interstate 80.
President Barack Obama said he will nominate Fannie Mae Chief Executive Officer Herb Allison to run the Treasury office overseeing the $700 billion bank rescue.
Allison, 65, a former Merrill Lynch & Co. president, would replace Neel Kashkari, a holdover from the Bush administration, as assistant secretary for financial stability
Jesus
--
The Zombie Apocalypse begins when U3 hits 15%
I've passed through Elko -- on US 50? -- two or three times. It's probably mentioned in "Road Trip USA."
edit: Whoops! That must have been Ely. I may have gotten some gas. Looking for food, I stopped at a drive-in, but there were no girls on roller-skates.
From "Road Trip USA:" The best access to the Ruby Mountains is through the engaging small city of Elko, 50 miles west of Wells via I-80. Besides maintaining its Basque culture, Elko hosts the very popular Cowboy Poetry Gathering every January, a Cowboy Music Gathering the last weekend in June, and a 4th of July celebration.
So, it's not too late to get there for the Music Gathering and July 4th celebration. Gas is cheap!
btw...I'm out and up 27% on the wk....woho...not my bestest wk but close to it!
What where you holding?
--
The Zombie Apocalypse begins when U3 hits 15%
CR I miss the days of the Northern Rock run....memories...
We'll always have the Lehman weekend....back when Sunday was the new Monday....back with Tanta. and weekend rockbloggin.... those were the daze....
"It was a kitchen sink quarter for Great Basin."
Tupuli - This is the change we all wanted - Yes we can!
Wow, CR must have taken the happy pill in the thread before last. That's the longest conversation the great and mighty oz has had with anyone on these here boards. It was like God talking to Satan. CR talking to Lucifer, his fallen angel. Very touching. I don't ever want CR to talk to me. It would ruin it for me.
I remember back when we hung out at the speakeasy and Livermore would come by and blog on the chalkboard.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
"the choice gives Treasury Secretary Timothy Geithner the counsel of a Wall Street veteran"
Has Bloomberg become the Lampoon?
April 17 (Bloomberg) -- President Barack Obama said he will nominate Fannie Mae Chief Executive Officer Herb Allison to run the Treasury office overseeing the $700 billion bank rescue.
Allison, 65, a former Merrill Lynch & Co. president, would replace Neel Kashkari, a holdover from the Bush administration, as assistant secretary for financial stability.
FNM and Merrill Lynch - clearly this man has what it takes! What IS that smell?
Congratulations, Barley! And to whom do you owe the most gratitude for your 27%?
Just transfered from Guam to Saratoga Springs, NY (where I was stationed briefly in 2005). Currently, Guam is experiencing a housing bust after a few years of speculative boom. Initial impressions of Saratoga Springs:
The downtown area along Broadway seems to be doing OK. Mostly high end boutiques and restaurants. There seem to be more empty storefronts than I remember from 2005, but that is just my impression. More for sale signs too. The real story is the amount of building going on, even now. In the compact downtown area there are 3 relatively large luxury condo developments going up. One project (still under construction) advertises units STARTING AT 593,000! My father just bought a new condo in Cambridge, MA for 450,000. 600k is just an absurd price for this area.
In the areas surrounding Saratoga Springs, there is quite a bit of CRE being built, mostly Office/Industrial parks and retail. This despite a large amount of vacant space (again, this is all just my impressions from driving around the area looking at houses). Almost all the above projects are being financed by smaller local banks (at least according to the signs). Who knows, maybe there is enough demand to fill all these new buildings, time will tell.
The search for a rental begins in earnest Monday. I am curious to see how rents compare to 2005.
Forget Allison, it's the office of financial stability. I guess that replaces the old office of instability?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
What IS that smell?
Boston Harbor?
I'm off to Merritt Island.
Are accounts opened by illegal Mexicans FDIC insured?
Seems like you should only get FDIC insurance if you actually pay taxes. I would give the illegals thier money back on the other side of the border.
When the calls went out on Sunday for "netting trades on Lehman the Lehman implosion.... on the heals of Bear Stearns...."
so long ago...
Guam? Give up and masturbate? Wow, heaven
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nova,
There are three options:
1) Give up and maturbate
2) Date a stripper/female sailor (just about the same thing)
3) Marry an Asian woman
I went with option c.
The real estate picture there is very interesting though. Maybe I'll post links later if I can dig them up.
i think that that bkuna takedown is being held up because wilbur ross is still angling to purchase it...
I was in Sarotoga Springs in 2005. Not a bad town. Maybe 3 good places to eat. Thats 2 more than most towns that size
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
You too Bama???
lawyerliz--finance the REOs.
Does anyone remeber the Steve McQueen movie "The Getaway". Steve and friends rob a tiny bank in the middle of nowhere Texas that is actually a mob money drop. Maybe this bank was a laundering point for Mexican drug money. Stranger things have happened.
I thought Guam got 200mph winds every once in awhile
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Main positions .buys09-10 of April
drys
jdsa
cfnb
stbk
also, sold positions (bought 01/04/09)
cew.to
fie.to
mfs was a double bagger - sold today
right now csh 70% and been accumulating some faz - i'm ok w./ the loss so far
I'm thinkin AU down to 645 then i'm interested.
nuke, you a submariner?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
BankU, hah!!
Take that Fred. Pow! Bam!!
FFDIC out there?
How much has FDIC employment ramped up? Percentage wise? Absolute numbers?
lawyerliz--finance the REOs.
Saratoga Springs has 3 things going for it:
1) The horse-races
2) Skidmore college (lots of rich white girls)
3) The Naval Nuclear Training Unit (which is what brings me to the area)
If the Navy facility closes (which I think will happen in the next few years, the plants are reaching the end of their operational lives), the market their will be crushed. Which is why I am buying, not renting. I know too many servicemen that have been financially crushed by a house they can't sell after they've been transferred.
Did you all noticed the correlation between local unemployment rates and the number of illegal Mexicans in the area?
Looks like Los Angeles and central california have the highest unemplyment in the nation.
I believe it is because latino culture has taken over entire local districts in the USA. It is a culture based on family first, individual second. The exact opposite of what America, the greatest country on earth, was built on.
Latinos must hire a family member (3rd cousin drunk) before hiring a non-family member. All latino businesses and governments are organized in this extended family mafi struture. These structures always fail and are ineffective at building a long term democracy.
Los Angeles is already one big mafi run city and hence is on the edge of the abyss.
Mexico for example has a single political family which has run Mexico city forever, kind of like George Bush the 34rth.
Mexico is a failed state, the only thing Mexico has going for it, is that it is beside the USA.
If Mexicans love thier country and culture so much, then why are they here? It is a very ignorant person that lives where they do not want to. Life is short, go back to Mexico if you lke smelling toilets so much.
We need to stop slavery in America and send all the illegals home in a huge one time sweep and then lock the borders down with a shoot first ask questions later policy.
Unemployement will go back to %3 within weeks and America will recover.
Wow, duckf*ckgoose is back with his racist vomit.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Anon==ddg?
lawyerliz--finance the REOs.
Nova,
Yup. The ship I was on was recently featured in the global news media for a minor radiation leak. I was the oncoming duty officer when that issue was discovered (and that's all I can say about that). Just finished a 38 month tour is Guam. It is a lovely place to visit (or be stationed), but an awful place to live. The bifurcated housing market and terrifically corrupt government make life unpleasant if you have to live off the economy. Didn't see a typhoon while I was there, though.
One more baby before I lay me down to sleep. . .
Just one???
lawyerliz--finance the REOs.
The UK Telegraph has an interesting how the EUrozone is crashing. Germany may end up in worse shape than the UK. That makes the UK secretly happy.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
How do they handle the failed banks OVER THERE? Do we do better or worser?
lawyerliz--finance the REOs.
nuke, I remember that, plus I hang with some Rickover types who still work in the field.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Here's some stuff on Guam's housing market, if anyone is interested. I don't think the bust will take down any local banks. Most financing was provided by large Asian institutions (mostly Korean, as I recall)
http://www.guampdn.com/apps/pbcs.dll/article?AID=2009904170307
No failed banks in China. Seems smart educated liberal leadership works. Obama is too late for America in my opinion - The Regean generation destroyed the country. China will soon take back world leadership in all respects.
"China on Thursday agreed to loan Kazakhstan US$10 billion in return for the right to take a big stake in the Central Asian country's energy sector. This follows similar initiatives with Russian energy giants and the financing of a gas pipeline from Turkmenistan via Uzbekistan to China. The global financial crisis has provided cash-rich Beijing with opportunity, and it is grasping it with gusto"
Gosh, Guam's real estate is special too, and they're going up in 2010!!
Who could have known?
lawyerliz--finance the REOs.
nova - cars sales in Germany are on a tear! Good deal of economic acitivity...
given the woho - transports will have a nice run for a spell - rotate like its a celebration
You too Bama???
That was just for you, my sweet.
Kwajalein is probably better, I would say a glowing market, but it missed out on all the fun
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nuke - U in the service?
Just re-reading my posts. Sorry for the typos; I am battling jet lag. I meant to say I am renting, not buying. Nova, are you in the power business? I actually resigned my commission and started looking for work at one of the plants. My marriage changed my mind (I don't think my wife would be willing to crash on a buddy's sofa while I looked for work), as well as word I got that even power plants were freezing hiring. So, I pulled my letter and took a shift engineer billet at Ballston Spa. Hopefully, things will turn around by the time my tour ends.
The Silver State
Had a basin but one day
It ran dry
Blush.
lawyerliz--finance the REOs.
Barley, I thought it was low end imports that were booming?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
nuke - you look at DC? Federal?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
nova - YES Lada is doing very well but VW is setting itself up for a stellar year!
I was thinking of setting up some off-shore tax havens in Guam. At what point does a base on Guam become irrelevant? 20 yrs? 30? 40?
Oh, nova, just everything's gonna boomdeboomboom, and recovery is just around
the corner, doncha know? And we all shoulda gone long when the mkt was so low, and
we missed our chance, and now is a good time to buy.
Actually, for the latter, it almost is.
Unless we go Mad Max, in which case it doesn't matter, right?
lawyerliz--finance the REOs.
lawerlizinMI,
Well, of course Guam real estate is special. The Marines are coming in 2010. They will easily fill up all the high-rise luxury condos being put up. Except that the Marines will probably live in base housing, and the military build-up will be postponed for years (budgetary pressures). The same speculative boom happened in the late 80's on Guam, and will probably happen again. However, this time the speculators are Korean, not Japanese.
"nova - YES Lada is doing very well but VW is setting itself up for a stellar year!"
Full disclosure: I am driviing my 4th VW.
Liz, I don't know. If we buy know with a 5 year arm we will be able to payoff when the hyperinflation boom comes in
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nuke....hello??
nuke, maybe DNFSB?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
"If we buy know with a 5 year arm we will be able to payoff when the hyperinflation boom"
Thats when you buy a 30 yr fixed w/ a rider to refi a the same rate.....borrow at 5.6 and invest in tips
--
--
"Parasites attack the host."
Yogi,
You just described Bankrupters and Fraudsters of NYC. Parasites attack by making themselves part of, or attaching to, the host. They gain confidence of the host and then they suck up the blood. BBAD attract parasites and then they find out what happened. Too late, of course.
Jas
PS: Nevada wants to merge with Kalifornia because Kalifonia is too big to fail.
Barley, you are right.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Actually it's possible, nova.
I knew someone in the late 80s who had got a neg am adjustible mtg at just the right time.
It negatively amortized until the first change date, (a year?) and then since rates kept dropping, it was paying down nicely and the rate was dropping too.
After I explained how, in general, they were awful, she said shall I re-fi? And I said no!! You are the luckiest person in the world, your rate will continue to drop in the future without you having to do anything. And so it was.
lawyerliz--finance the REOs.
Morocco Bama,
I don't think Guam will ever break away; they vast majority of the local population works for the government (local, which is bankrolled by the US, and federal) or is in receipt of federal aid. It is actually kind of depressing. Once the local population became eligible for federal programs, the private sector withered and died. What private industry there is (mostly hotels) is owned by the Japanese and Koreans, and staffed with Koreans, Phillipinos, Chinese and Palauans.
As for working for the Federal government, I think it probably has all the things I don't like about the Navy (bureaucracy, stupid regs), but none of the positive aspects (excessive drinking, comraderie, profanity, etc). I will either go back to sea or get a private sector job.
Obama Shakes Hands With Hugo Chavez !!!
Apparently, Chavez didn't smell sulphur (he did after following Bush to the speaker's platform at the U.N.)
Viva Chavez !!!
Barley,
Yeah, I am a submariner with 8 years in (3 enlisted, 5 officer). Just finished my sea tour in Guam, settling in Saratoga Springs for 3 years as an instructor for young nukes.
Any of us woulda smelled sulfur after shaking hands with Bush.
Tho I don't know, I don't Lucifer would want him around. So where shall be send him? The Catholic Church recently got rid of Limbo I understand. Shakes head. I liked Limbo.
What say you, Lucifer?
lawyerliz--finance the REOs.
DNFSB might surprise you. Fedland would be a good safe harbor until this Typhoon blows out. My neighbor a few years back was a Captain who ret. just as the Soviet Union went down. His speciality was Soviet intel. He ended up being the manager of a Boston Chicken
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
3 years of instructing sounds ok.
lawyerliz--finance the REOs.
The hub is happy at NASA. Even with all the stupid rules, he finds being in the space industry thrilling.
lawyerliz--finance the REOs.
3000 banks in the U.S. Estimate that 1000 will close during this recession. I think 99.9% will be the small little community banks who did C&D loans and CRE loans. That still leaves 10 regional/national bank to fold but I bet it's credit card defaults that get the big ones. Capital One sure spends a lot on advertising its credit card business. And Citi hands out credit cards to people still in college.
Liz, been hitting the coffee hard tonight?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nuke - I have a question: Any info floating around that the those currently serving (in Iraq/Afaganistn) will be offered
some housing incentive, upon return? Say 0% for 5 years...
Nuke - Sorry my priorities are off: Thanks for your service! I mean it man!
nuke, one more thing before I go. Think about Kalingrad. Lot of Soviet Navy officers sitting on their asses for years now. Is the fleet going up or down in the next 10 years? Littoral or nuke - who will get the money? Can you see the US building power plants? What happens to the Navy if the gov defaults? The 100 ship navy?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nah, nova, am about to give up on the 3rd bank and go to bed.
lawyerliz--finance the REOs.
Capitol One is a bank now.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Nova,
Worse comes to worse I could always go work at the NRC. They are always looking for nuclear engineers. My 2 fears are this:
1) Obama kills off the nuclear industry (canceling the Yucca mountain project is a good start, we are running out of places to put the stuff). I say this as one who voted for Obama.
2) The record federal spending triggers a fiscal crisis that puts me on the street faster than I anticipated.
Perhaps as an over-reaction, I cut my spending to the bone in 2008-2009. Whatever happens, I want to have a large cushion to support my family in any eventuality.
Well I guess they can hijack the ship and take over the Somali pirate business, with great success. Oops, isn't that more or less what happened to the Romans, except on land, mostly?
Anyway, aarggghh!
lawyerliz--finance the REOs.
Nuke, you could have beers with Kunstler and give us a report. You're neighbors!
http://jameshowardkunstler.typepad.com/
I blame Greenspan.
Hey, it's unpatriotic to stop spending.
lawyerliz--finance the REOs.
Nothing racist in talking about illegal Mexicans. Mexico is a country and they are invading the USA illegally for work because they cannot run a country and take care of thier own people
I could not care less if they are white, black, yellow, or brown Mexicans. They still need to be deported.
Numbers do not lie. Deport all the illegal Mexicans and stop the Indian H1-Bs and tax offshore manufacturing = unemployment stops over night, inflation kicks in, and USA returns to full unemployment.
Nothing racist about the truth.
Lucifer concurs with lawyerliz. Typing on iPhone
Nitey-nite.
lawyerliz--finance the REOs.
The Devil uses a Blackberry. Every Catholic knows that.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Lawyerliz should buy a new computer and stimulate the economy.
Interesting point. Why is talking about illegal Mexcians taking American jobs racist?
Worse yet, Mexicans take the jobs teenagers once did. These jobs as cooks and ditch diggers used to teach American kids about hard work and saving money. Now these keeps cannot get jobs so they learn about credit cards and living off debt.
Mexico is not a race, just a backwards country with a government that helps send its poor to steal money from Americans.
Truth hurts. The truth is not racist but will set you free.
I liked Limbo, too, Liz. I thought that's where I was going....and then the bastards do away with it. Screw them, I'm going anyway and renaming it Nirvana.
Barley,
Vets already have the VA home loan. I know there is something in the works to help servicemen who have to sell their houses at a loss when they transfer, but I am fuzzy on the details.
nova:
Future of the Navy...Well, I am but a lowly 03, but the nuclear fleet is shrinking, any I think it will get smaller than most people project. I think this will be driven by manning. We are simply not retaining enough nukes. The job sucks on a lot of levels, and traditionally nukes have been able to find good work in the private sector. Whether the recession reverses this is something the navy is watching closely. Currently, every sing rate in the navy is overmanned but 2: Seals and Nukes.
As for littoral combat ships, the old CNO pushed them as his pet project. The first 2 were WAY overbudget. There is talk of the project being killed.
Overall, the Navy is seeing a big budget crunch. We have used a bunch of gimmicks during the Bush years that no longer fly. We (the Navy) would lowball the baseline budget, and make up the difference with a big supplemental. Obama isn't giving us the same blank check that Bush handed us. If the government defaults, we would end up like the Russians: rusty hulks rotting in San Diego and Norfolk, and a lot of Naval Officers managing McDonalds.
The blackberry has good keyboard but sucky browser. iPhone has excellent browser but sucky virtual keyboard.
If that happens, we can rename it McNukes.
Jas:
You don't offer solutions?
You have a short memory for a smart guy, albeit a lying sack of shit. Name names or shut the fuck up.
iPhone keyboards are an acquired skill.
We shall go on to the end, we shall spend,
we shall spend on the seas and oceans,
we shall spend with growing confidence, whatever the cost may be,
we shall spend in the beaches,
we shall spend in the valleys,
we shall spend in the fields and in the streets,
we shall spend in the hills;
we shall never surrender.
man, the run up in Cu totally caught me unaware. looks like beijing is stockpiling base metals.
but the nuclear fleet is shrinking,
We'll probably need them in the future (maybe now as a deterrent), but right now we don't seem to be able to control a few pirates. Not something we should have prepared for granted, but that makes me wonder what we are prepared for.
Disney World is offering a free meal plan ($700 value) if you book for 7 days. Offer ends July 31st. They must be hurting.
Name names or shut the fuck up.
Funny thing, yogi, is that a comment like that might make me go back and read whatever it was that he wrote and I skipped.
I didn't go back. I'm writing this instead.
BTW, Ken Cooper, some of us would really appreciate an ignore button, perhaps right about where the reply button is now.
the run up in Cu totally caught me unaware.
Some metals are more precious than others.
Can't build much of anything without copper.
Maybe Obama's next stimulus package can include a free vacation package to Disney for every U.S. citizen....and illegal aliens (just to piss off Limbaugh, Lou Dibbs and Hannity).
Barley,
So if gold goes to only $650 and then to $2,000, you'll miss it. You'll have had a good idea and nothing to show.
A good week may make you richer. But not smarter.
Anybody who thinks they can time this market is stupid.
Well, when the navy has gotten involved in protecting merchant shipping (the Gulf tanker war, the Maersk Alabama), they have been very successful. What the Navy lacks now is jurisdiction. During the tanker war, we placed all those tankers under the US flag and acted accordingly. When a US flag ship was attacked, we successfully rescued the hostage. The problem is most ships fly the Panamanian flag (a country with no navy), are owned by Greeks (very small Navy) and are staffed by Philipinos and Eastern Europeans. Until the US has some skin in the game, intervention will be minimal. My solution: put the ships under the US flag and start running them in convoys. Most of these ships are transiting to and from the Suez. It would be easy to gather them up in groups and assign 2 or 3 destroyers/frigates to escort. Worked against much more sophisticated foes in WW2.
iphone keyboards are not terrible except when filling certain forms. Haloscan was ok.. But nothing since then has been that responsive.
AZ unemployment @ 7.8% and heading to 10 when 5% is considered recessionary.
Disney is doing fine given the economy. Food is a really cheap freebee (ed.) to families buying hotel rooms and tickets.
I've heard park attendance is up this year though I expect average dollars per visitor will be down.
Speaking of amusement parks, check out Six Flags:
http://finance.yahoo.com/news/SampP-cuts-Six-Flags-debt-apf-14951606.htm...
http://finance.yahoo.com/news/Six-Flags-offers-stock-for-apf-14962600.ht...
Speaking of amusement parks, check out Six Flags:
http://finance.yahoo.com/news/Six-Flags-offers-stock-for-apf-14962600.ht...
Disney may be doing fine thus far because much of there traffic was booked in advance last year prior to the meltdown. This may be why they are offering the free dining plan. It's good for August through October if you book by June 21st. This tells me they are experiencing a decline in advance bookings for the second half of 2009 and the first half of 2010. It's to be expected.
Very interesting. Thanks for that link, Nuke. Six Flags tends to draw a lower demographic than Disney, but this won't preclude Disney from seeing a decline in foot traffic and dollars per visitor, as sportsfan indicated.
Nuke, we (I) appreciate your candor. Will be interesting to see how this shape-shifting Debt Unwind crises impacts federal outlays for the military and other areas.
Some of yall are regulars here in CR-land; maybe you can relate to the following.
I had to attend to some family business for two weeks and pretty much missed out not only on CR and other blogs (Mish, The Big Picture), as well as the WSJ and NYT.
Anyone else ever go cold turkey abstinence on financial news for 2 weeks since this crisis started with the defaults by Bear Stearns Hedge Funds in the summer of 2007?
It's really weird to take 2 weeks off from the news, save for background CNN/NPR chatter.
Six Flags is dying and will die!
Q about yucca mtn.
Could the waste be used for newer plant designs?
Would it be more efficent to encase in concrete and bury in subduction zones and let the natural earth processes do what they do?
This tells me they are experiencing a decline in advance bookings for the second half of 2009 and the first half of 2010. It's to be expected.
I'd agree with that. They are being proactive, though.
It's secondary places like Knott's Berry Farm in SoCal that will have a harder time this year and next.
Even in my little burg I'm talking with folks who expect it to be a tough year, but also expect the competition to be gone by next year.
deleted
Great Basin Bank
Barren as the Silver Hills
Only dust is left
OT: McCain might have won if he had run against the banks and bailouts. Phil Gramm would have nixed the idea, of course, because it would have been too mavericky, not to mention more costly to the bankers. But there are 435 house seats up for grabs in 2010.
Comrade,
Well, sort off. Some fuel can be reproccessed. A Navy reactor is considered spent even though a large portion of the U-235 (fissile material) still exists in the core, I cannot go into details.
Unlike Navy reactors, civilian reactors use much less enriched uranium. Even though U-235 can be extracted from spent cores, most of the core is highly radioactive "filler material". Also, nuclear waste isn't just spent fuel. It is also radioactive components: valves, pipes, etc that have been exposed to neutron bombardment and have developed radioactive isotopes (very nasty cobalt and manganese isotopes re common). Plants generate quite a bit or radioactive waste independent of the actual fuel itself. Some is low level and can be disposed of easily. Some is very, very nasty and requires long term storage in a secure location. This problem gets much, much worse as plants age and require extensive overhauls where large numbers of radioactive components are replaced and must be discarded somewhere. Which is why the plan to kill Yuuca mtn is so frightening. One of these days, some nasty waste will go missing from an onsight storage area (or end up somewhere it shouldn't be), and the scare mongering will cripple the industry.
Six flags just has way too much debt that will be impossible to role over and a bunch of bums running it.
Now's your chance to get out of Dodge(WSJ):
"Thanks to a new law, Canada will bestow citizenship Friday on what its government believes could be hundreds of thousands of unsuspecting foreigners, most of them Americans.
The April 17 amendment to Canada's Citizenship Act automatically restores Canadian nationality to many people forced to renounce it when they became citizens of another country. It also grants citizenship to their children.
The Canadian government doesn't know the precise number or location of individuals affected by the legislation. But it believes most are U.S. citizens, a spokeswoman for Canada's immigration office said. U.S. Department of Homeland Security records show 240,000 Canadians were naturalized in the U.S. from 1948 to 1977; the new law fixes problems that occurred during those years."
Nationalized healthcare, not a terrorist target anymore; what's not to like?
Hail, Galaxar!
the scare mongering will cripple the industry.
Given the half-life of some of the waste and the fact that engineering is relatively not that old of a discipline, the industry performs its own scare mongering.
_______________________
Other comments here on occasion.
About all I remember of Elko was eating at a "Basque cuisine" restaurant that was more plain than I imagined possible. It drew from Idaho culturally, where nobody used drinking straws. The continental breakfast at the motel next door consisted of all prepackaged food and drinks. The Shell gas station was desolate and depressing save for the cheery music playing over the loudspeaker. The city's existence can be solely justified on the basis that it is the halfway point between Reno and Salt Lake City.
Let's not forget that the Great Basin Bank shares its name with Great Basin National Park in Nevada, which has a noted geological feature called Lehman Caves. Rather fitting, don't you think?
----
"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails." -- William Arthur Ward
Does anyone know if anyone has a site with odds on a sovereign default by the UK and/or the scuttling of the 2012 London Olympiad?
I'm betting the IOC will run to Beijing as a last minute substitute host city...like they had to do in 1972 when furious mutineering Colorado voters rejected the successful bid for 1976 Winter Games, causing the IOC to run to Innsbruck, Austria.
http://denver.rockymountainnews.com/millennium/1012stone.shtml
I hear Vancouver's residential and CRE markets are expecting a severe beat down, due to over-development, after the dismal non-boost expected from the 2010 Winter Games. Putin can't finance construction for his 2014 games cuz his Olympic budget was built on a pro forma that had oil at $140/barrel.
It's a shame that King Richard, as Mayor, is betting the Farm on the 2016 Olympic bid for Chicago which has massive numbers of downtown hi-rise condos coming online and a 2,000-ft all-condo tower still sinking pylons into the ground while 'the Donald's' Trump Int'l Tower readies its 1,400-ft of condos (plus restaurants/hotels/garage) for a final sales push amidst bitter pre-foreclosure construction loan counter- lawsuits with Deutsche Bank. "Trump is suing to extend a $640 million senior construction loan on the 92-story Trump International Hotel & Tower from a group of more than a dozen lenders led by Deutsche Bank AG. The high profile development will become the 2nd-tallest building in the U.S. when completed in 2009 with 339 hotel rooms and 486 condominiums."
It takes a Village to raise a kid; it takes an Olympiad to keep a major market CRE / RE from sinking.
JP,
Which is why Yucca mtn was so important. It offered the best chance for a "perpetually safe" storage facility. I realize nothing can be totally safe, but storing this stuff miles underground in a mountain in the middle of nowhere is better than keeping this stuff in cement casks outside plants. The biggest fear the Navy Nuclear program has is nuclear waste showing up in a dumpster outside of a base (regardless of how radioactive it actually is). Which is why EVERYTHING we generate is tracked and disposed of. Any loss of accountability is a huge deal.
Sorry sportsfan. Please feel free to ignore any of my posts directed to Jas, Michael, MS, et al. Sometimes the way to limit the damage of a cancer is to attack it soon and often.
Jas gains many unsuspecting converts here with his coded half-truths. He is smarter than Michael so I consider him dangerous, despite the psychotic repetition.
25 down
975 to go
Nuke,
Why not reprocess spent nuclear fuel and burn it in other types of reactors? It is a bit expensive, but it creates jobs and helps develop technology and manufacturing.
For the record, "arbitrage macht frei" doesn't offend me in the slightest.
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FFDIC,
25 down, 8280 to go. [8305 insured as of Dec 31, 08]
Seriously, how many do we need? 3000?
http://online.barrons.com/article/SB123940701204709985.html#mod=rss_barr...
Barron's
The Lessons of the Savings-and-Loan Crisis
William Black, Associate Professor, Economics and Law,
University of Missouri, Kansas City
No problem, yogi. I understand that danger needs to be met.
Not many posters irritate me to the point that I would push the button on them.
For present purposes, I just ignore.
Syllable too short
Seven Crapped Out Missing One
Still get the point though
2 more banks failed this week.
50 banks failed since 2008, 25 each in 2008 and 2009 till now.
Friday means FDIC is in action on some bank.
Last week also FDIC closed 2 banks.
"American Sterling Bank,Sugar Creek, MO" and "Great Basin Bank of Nevada, Elko, NV" were closed on Friday making the count to 25 for this year and 50 since start of 2008 for the failed banks in US.
# 25th bank to fail this year
# 50th bank failed since 2008
# 5th bank in Nevada since 2008 and 2nd this year
Check the list of all the failed banks at :
http://portalseven.com/Failed-Banks-2009
And on google map see where the banks are failing at :
http://portalseven.com/finance/Failed_Banks_Map_2009.jsp
Also layoff tracker at :
http://portalseven.com/finance/FinanceHome.jsp
Do check it.
elko isn't exactly bubblezone is it? looks like it's literally in the middle on nowhere.
You think that's any barrier to having a bubble? Small towns everywhere between the Rockies and the Cascades saw bubbles.
http://property.timesonline.co.uk/tol/life_and_style/property/overseas/a...
"Perhaps riskier is his $280,000 (£150,000) bet on Desert Oasis, a condo complex in West Wendover, a tiny town near Nevada's border with Utah. "
elko isn't exactly bubblezone is it? looks like it's literally in the middle on nowhere.