Daily Archives: February 15, 2012

Discovery in Arabia saves New Hampshire paper mill


No no no!

Toilet paper sales are rolling along, replacing loss of newsprint sales. Pinch Sulzberger asks, “what’s the difference?”


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Every year I promise to go away this week, every year I forget

55 Burning Tree

Not really, I hate traveling when the kids are loose – been there, don’t have to do it any more. But it’s certainly a dead week for Greenwich real estate even in busy markets and this year ….

Nothing much of interest coming on for tomorrow’s open house list but I’ll probably revisit 55 Burning Tree Road to refresh my memory. This is your typical builder’s job circa 1960 and renovated over the years. Two acres, good street, decent location. And the price is getting interesting. It sold for $2.1875 in 2005, $2.100 in 2008 and is priced now at $1.795 million. That’s still not low enough to excite any buyers I know of but it’s a start.


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They never quit

More nukes now!

Massachusetts has approved the Northeast Utilities merger and that means we here in Connecticut will soon be part of any even larger, worse run (okay, that’s impossible) utility. This has been in the works for awhile so no real surprises but here’s a nugget that you may not have known: the new company will be forced to purchase 27.5% of its energy from the Cape Wind power towers off the coast of the Baked Bean State and that means we will, too. The additional cost will go nicely with the $5 gas our politicians have planned for us because Cape Wind power will cost $0.207 per kilowatt-hour and increase 3.5% per year thereafter. This compares to a current (pun intended) rate of $0.074 per kilowatt-hour. Triple the cost just to ruin Bobby Kennedy Jr’s view from the Hyannis Compound? It almost seems worth it, but ….


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It’s only frustrating because it was so godamned predictable

So we dig this big hole, see, and dump crisp dollar bills into it and then set it afire - energy!

EU carbon trade market is dead.

Johannes Teyssen, chief executive of Eon, the German energy group that is one of Europe’s largest, stunned an audience in Brussels last week when he pronounced the market broken. “Let’s talk real,” he said. “The ETS is bust, it’s dead.”

Upon its launch seven years ago, the market was supposed to work on a simple premise. Proponents hoped that by putting a price on carbon and forcing companies to pay for their emissions, it would prod Eon and others to pour money into green technologies and greater efficiency. But, as a result of a subsequent recession and poor management, the market is saturated – and could be for years to come – with permits that give companies the right to emit carbon without penalty. That has led to a prolonged slump in the carbon price. At roughly €7 per tonne, compared with a peak of nearly €30 in July 2008, it is a fraction of what policymakers and analysts had forecast it would have reached by now – and well below the levels necessary to justify the desired investments.

“I don’t know a single person in the world that would invest a dime based on ETS signals,” Mr Teyssen declared.

And here’s a shocker: According to the Washington Post, the “Green Dream” is all about money for Obummer and his crowd.


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Your future, as envisioned by our government and its media lapdogs

Where in the world is Dollar Bill?

$4 a gallon gasoline is just a good start. Make cars and driving unaffordable and those masses too dumb to know what’s good for them will be forced into cities and mass transportation,  the better to keep an eye on them.


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It’s about boasting rights for the broker and the seller, not what the property will ever sell for


Pound sand

Nine acres of undeveloped land in the Hamptons “asks” $200 million. Look: this is like David Ogilvy listing Leona Helmsley’s acreage for $125 ($135?) million a few years back. It made headlines as, briefly, the most expensive real estate listing in the country, Ogilvy was mentioned in the Wall Street Journal and eventually, after he lost the listing, the old dump sold for $30 million. Hardly chump change but Ogilvy remains the champion of the largest price cut in Greenwich real estate history. Of course, he also got a ton of free publicity and people remember his ultra-listing, not the plebian price it actually sold for.

On the other hand, I really, really hope that some idiot does buy this dune-based waterfront for full price because it will wash away in a decade or so, or sooner if we’re lucky, and all that money will be relocated 1000′ off shore. Funny.


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This should do it


Stocking up before returning to the slots. Klass with a capital "K" !

Foxwoods is teaming with a Greenwich developer to build a shopping mall. $2 billion in debt, revenue and visitors dropping and the “Indians” think that a Ralph Loren outlet store will solve their problem?

The mall is part of a larger campaign to rebrand the casino. A new slogan — “Foxwoods: Anything But Ordinary” — is meant to give North America’s largest casino complex a more “powerful identity” that emphasizes the range of amenities and activities available to gamers and non-gamers, said Rebecca Carr, Foxwoods’ chief marketing officer.

The campaign features a whimsical cast of characters — Ace, King, Queen, Jack and Joker — each of whom visits Foxwoods for a different reason.

For the Queen, Foxwoods serves as an “elegant” escape from the hectic life, a destination where she can indulge in shopping or a day at the spa. The Ace is smart, sophisticated and serious about gaming. The campaign’s overall message “is that there is something for everyone — you can be anything at Foxwoods.”

As long as idiots like these can find paying jobs I’m not going to worry about the unemployment rate.


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