Cisco to fire 10,000 employees. In the meantime, Congress is investigating Google for anti-trust violations. You may recall, or not, that the anti-monopoly laws were enacted to protect consumers, not business competitors. This present investigation has been brought at the behest of such weak competitors as Microsoft who, boo-hoo, can’t convince consumers to use their own search engines, so one might be forgiven if a suspicion arose that it’s about bribes to congressmen and not any genuine concern about abused consumers.
Daily Archives: July 11, 2011
Connecticut taxpayers will subsidize 3000 lucky homeowners by 2022 to purchase solar panels. Cost? Millions and millions. Net energy output? Just about zero. In the meantime, we’re shutting down our Millstone nuclear plants, 2,000 megawatts output powering 500,000 homes, so that the propeller beanie folks can take over our energy needs.
Over in New York, they’re busy shutting down Indian Point, another 2,000 + megawatt plant and again, the crazies plan to replace the energy with more propeller heads.
Out on Nantucket Sound, the huge windmill energy project, so large that Teddy Kennedy contracted brain cancer and died from worry about his ruined view, is estimated to produce all of 454 megawatts at peak production. Teddy sailed those waters far more often than I but I’ll vouch for what he’d have said were he still around: high winds out there are a blessing for sailors, but rare. Most days, you’re going to be lucky to power one of those god damned cfl bulbs in each Hyannis household. This boondoggle is just a billion(s) dollar equivalent of Dan Malloy’s sun panel project, to the same effect.
I try to tell my $2 – $3 million buyers this but there’s a natural inclination, especially when a house has lingered on the market for awhile, to disbelieve one’s beloved and trusted buyer’s agent. But while my folks dawdle, the good stuff in that price range is being scooped up, especially in Riverside, Old Greenwich and the mid-country.
But even the high-end houses, dead as that market is, have multiple buyers too. Case in point is 50 Carriglea, direct waterfront in Riverside, which started at $12 million in ’09, couldn’t sell and so was rented out. It came back on this spring at $9.250 million, which I thought was approaching a reasonable price. The builder paid $5.5 for the land, tore down the existing, dated house and built a beautiful, extremely well crafted house. I showed it several times – it’s one of my favorite houses in this end of town – but couldn’t instill a sense of urgency in my buyers. My bad, because it’s now reported as under contract. It probably isn’t going for full price but someone is getting a great house with dock and a swimming pool site: permitted, ground work done and ready to go, for a high, but justified price. Darnation.
Small businesses aren’t hiring and aren’t planning to. Blame Obamacare, blame Dannel Malloy’s mandatory paid sick leave law, blame every damn regulation imposed on these people you like, or just wring your limp liberal wrists and blame lunar activity, but small businesses (500 employees or less) employ fifty percent of the private workforce, so when our Treasury Secretary insists that we have to raise taxes on small businesses or the government will have to shrink, you’ve got a pretty good idea of where the Democrats are going and what their goals are.
But so what? The self-employed never had these benefits at all. That’s been my situation since 1988 (actually, except for the period 1981 – 1987, I’ve always been self-employed). It’s a tough world, as I well know.
So says this USC professor, and he’s got the numbers to at least support his point. Of course, if you consider a house to be a depreciating liability, which I do, then you don’t really have an investment at all. You do, however, have a place to raise your family and the land the house sits on will, with luck appreciate.