Daily Archives: June 8, 2011

Business school ratings are out – does it matter?

Everyone’s got their opinion. Mine, based entirely on never having attended any such thing, is that the smartest, most successful men and women I know in business are smart, successful people, period. I never hear them express something brilliant and say, “I learned this at Yale” and I doubt I ever will. And the morons? They come from all over the place, tutored or not.

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Things are getting testy all over

Orange County real estate board goes after blogger. (Hat tip, Teri Buhl).

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My gosh, he reported it

142 Cat Rock

Old news, but here it is on our MLS. Sold for $4.050 in ’05, improved and re-listed for sale in 2007 for $5.450, sold May 27th for $2.3. Chris Fountain and EBT Realty, selling, Russ Pruner listing agent. Couldn’t have done it without him.

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So tell me who’s nuts

7 Sachem Rd

Bungalow in Cos Cob, perfectly nice house if you like this sort of thing, under a half-acre and asking $1.1 million (plus). Contract in 56 days.

546 North Street

5. 5 acres, asked $7.995 back in 2007, dropped to $3.495 and has also gone to contract. I realize that the buyer of a million dollar Cos Cob house doesn’t necessarily have the wherewithal to come up with three, but can’t you call Aunt Bertha?

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Read your history

One Shore Acre Drive

A reader comments in an excited tone that the POS pictured to the left has just sold for $3.7 million, “only” a few hundred thousand from its last asking price. And I agree, sort of – the idea of anyone paying this much for this house is palpable proof that the Old Greenwich real estate market is still insane, so good for the sellers and boo on the stupid buyers (unless, of course, they ditched their own worthless house on another sucker and are just parking the proceeds here).

But do know that this house was completed in 2007 and asked for $4.995 million back then. A four-year wait to sell and a $1.3 million haircut isn’t the end of the world, but it’s hardly a home run, either.

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Facebook -do you really want it?

New face recognition coming from the service. I just ditched my whole account – not that I’m posting intimate pictures, but why do I want these people in my email? I kept receiving messages that someone I’ve never heard of wants to “friend me”. Screw that – I have maybe three friends, and I’m selective.

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I may have done Sulzsberger (but not Friedman) a disservice

It looks like the New York Times Sulzberger family ditched their 293 – acre estate at 1233 Rockrimmon Road in Stamford and the unlucky buyer is trying to get $95 million for it. Do check out the pictures – it gives a fine example of how the elite Left lives and intends to keep living. And please, don’t fret for Pinch – he and his sisters most assuredly simply transferred the real estate potion of their fortune to Manhattan, where it probably belonged all along.

Friedman, fortunately, is still ensconced in his own digs. People like Friedman will only come to their senses, too late,  when they are dragged from their holdings and shot by revolutionaries. A group, ironically, that I fear and oppose and that Friedman and Sulzberger encourage. Why? Because while I think those people are evil and wrong, the New York Times owners applaud them while believing that they themselves are immune from the rage of the mob. And the the funny thing is that the mob doesn’t read the Times. Sulzberger and his family and lackies like Friedman have been setting up the intellectual base to support the mob for the past 100 years. When it roars over and drowns them, they’ll never know what hit them.

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So how do I get Greenwich school texts?

We don' need no stinkin' raccoon

An anonymous reader writes that Riverside School had a “let’ eat taco’s day” yesterday celebrating our neighbors to the south and their drug wars and tales of gringo exploitation.  My own kids are safely freed from that useless institution, but are the text books for Riverside, Eastern and GHS available? I suspect, from my own horror at discovering what they were cramming down our throats in 8th Grade back in 1967, that we could have some interesting posts here.

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The New York Times Hearts Hartford

Finally, a policy of mutal-assured-destruction that the Times and Peter Applebaum can agree upon.

Lawmakers over the last several weeks have enacted the largest tax increase in Connecticut history and approved the nation’s first law to mandate paid sick leave for some workers. They voted to extend protections for transgender people, to charge in-state college tuition rates to illegal immigrants, to extend an early-release program for prisoners and to decriminalize possession of small amounts of marijuana.

As legislators wrap up the first session in 20 years with a Democratic governor, who is working with two chambers in the Legislature under Democratic control, it is clear that either they did not receive or they decided to tear up the antitax, budget-slashing, confront-the-unions script that has characterized state legislative sessions elsewhere.

And UBS quits Stamford. Not that Bloomberg is better than Malloy, mind you, but I think businessmen prefer the crooks they know.

 

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This is the NYT’s Thomas Friedman’s house – why would you listen to him?

Friedman house under construction, 2007

12,000 square feet (plus garages for his SUVs) 7.6 acres, and today he lectures the word on conspicuous consumption. Friedman, like his boss Sulzberger and every communist I have studied or, as in Pinch’s case, known, advocates crushing little people while they themselves are secure in the knowledge that their own wealth won’t be touched. Do go up and visit Pinch’s estate in Stamford/Greenwich. You’ll be reassured, knowing that he and Tom have plenty of land on which to land their private jets after jetting off to global warming conferences in Bali.

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Weiner’s done – more important stories are out.

Sox beat the Yankees! Sox beat the Yankees! And David Ortiz hurts their feelings. Oooh, goodie!

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Buy high

$123 million

High end homes have lost 38% of their value since 2006 while chicken shacks are down 63%. I haven’t done the numbers on Byram in awhile, but I’ll bet that we as an entire town are closer to the 38% number. So maybe the lesson is to buy in Greenwich and avoid Port Chester. Makes sense to me, anyway.

But if you’d like to put this strategy to work for you, this dripping pile of Euro-Trash is available just outside London, asking $123 million and down $20 million from its 2007 price. I suspect it’s like the Helmsley place here in Greenwich; price it at $125, sell it for $29 but if some ganja-beffuddled Arab shows up, go for retail. You’ll know better, eh? And put down that doobie!

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Underwater mortgagors

The guys below are NAVY SEAL trainees and they’re learning to be drown-proofed – they’ll be fine. The news is probably not so good for our nation’s homeowners – 100,000 of them are underwater in greater Baltimore Maryland alone; yesterday, the WSJ reported that 40% of all second mortgages are for homes now owing more than they’re worth. Is Greenwich this bad off? I don’t know, but there were a ton of refinances back in the day. With values back at 2003 levels, I suspect there are home owners who simply can’t afford to sell. Bad news for buyers and sellers. And real estate agents, of course.

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A billion dollars but 16,400 new jobs!

That’s what Malloy claims for his expansion plans for the Connecticut Health Center, appropriations for which were just whooped through the Legislature. Everyone knows that Malloy pulled the jobs number from his rear end but hell, they don’t have to be delivered until 2034 while the spending on union construction jobs will start now, so why not? I don’t believe that Malloy and his ilk are truly evil people, just gutless, scheming politicians who are willing to kick the can down the road and let someone else worry about cleaning up the mess. Unfortunately, it was people like Malloy who got us in our present predicament, so not much hope there.

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No country for old tourists

Ms. Smith and Mr. Wesson consider lunch options

 

Mexican tourism drops  faster than an Acapulco diver. “Most” of the drug cartel violence occurs away from tourist towns, says one official, attempting to be reassuring. Another claims that college students on spring break are still coming and the only shots most of them get are made from tequila. If your business depends on drunken college students, you’re probably in trouble.

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