Daily Archives: July 25, 2012

I guess he’s already given the hispanics amnesty so it’s the black’s turn at the trough

The Great Uniter announces that, by executive order, he’ll be creating a special “African-American Education Office”. And he will have built it! Say “thank you, Barry”, and don’t forget to vote – no need to bring ID.

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Bar Joke

From clashdaily.

Guy goes into a bar in Louisiana where there’s a robot bartender! The robot says, “What will you have?” The guy says, “Whiskey.” The robot brings back his drink and says to the man, “What’s your IQ?” The guy says,” 168.” The robot then proceeds to talk about physics, space exploration and medical technology.

The guy leaves, . . . but he is curious . . . So he goes back into the bar. The robot bartender says, “What will you have?” The guy says, “Whiskey.” Again, the robot brings the man his drink and says, “What’s your IQ?” The guy says, “100.” The robot then starts to talk about Nascar, Budweiser, the Saints and LSU Tigers

The guy leaves, but finds it very interesting, so he thinks he will try it one more time. He goes back into the bar. The robot says, “What will you have?” The guy says, “Whiskey,” and the robot brings him his whiskey. The robot then says, “What’s your IQ?” The guy says, “Uh, about 50.”

The robot leans in real close and says, “SO, . . . you people . . . still happy . . . with Obama?”

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Old Greenwich holds steady, maybe even moves up a bit

 

35 Midbrook Lane

35 Midbrook, across from the Perrot, asked $1.475 at the beginning of the month and already has an accepted offer. I liked the house and the street but thought it was overpriced; I was wrong. This sold for $1.399 in March 2011 so the seller has done well here getting out at almost no cost.

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Cause and effect?

Drudge:

 

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Sales reported

54 Binney Lane, Old Greenwich, sold for $4.1 million – sold new in 2004 for $3.675.

17 Shore Road, Old Greenwich $1.625 million. Small, but a little jewel box, overlooking Innis Arden. I liked this house and I’m not at all surprised at this price.

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If a tree were spared in a forest, would anyone hear?

Doesn’t ANYONE want this POS?

Newsweek (a magazine, once popular in the 1960’s) announces it’s abandoning its print edition. Its reader was unavailable for comment.

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What would we do without experts?

Massachusetts girl, 10, bitten by rabid bat after “bat expert” urges her to hug it.

The woman who urged the children to hold the creature has not yet been identified.

Probably a global warming expert, too.

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Accepted offer reported

10 Anthony Place, Riverside Thruway, asking $699,000. Sold for $685,000 in 2004 and then, according to the listing, got an updated kitchen and bath.

It sold for $442,500 in 2002 – wonder whether anything was done to it between that date and its 2004 sale?

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Usually its residents are more subtle than this

Smash and grab home breaking on Round Hill Road. Neighbor on neighbor crime: things must be getting tough down on Wall Street.

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If Obama read anything at Harvard (and who knows? – his records are sealed), he never read H.L. Mencken

Or it didn’t stick, anyway.

Of capitalism, Mencken wrote:

We owe to it almost everything that passes under the general name of civilization today. The extraordinary progress of the world since the Middle Ages has not been due to the mere expenditure of human energy, nor even to the flights of human genius, for men have worked hard since the remotest times, and some of them had been of surpassing intellect. No, it has been due to the accumulation of capital. That accumulation…provided the machinery that gradually diminished human drudgery, and liberated the spirit of the worker, who had formerly been almost indistinguishable from a mule.14

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Who would have thunk it?

But doesn’t saying something make it so?

44 Carriglea in Riverside has dropped its price to $3.250 million, down from $4.250 in February. I can think of at least one commentator who was skeptical of that first price.

Same sentiments for 44 Carriglea, which also lacks waterfront but is 1,000 feet bigger. These owners say “SELL!” but they’ve priced it at $4.250 million. Another maybe. I just don’t think 1972 marked the high water mark of American architecture but, while the listing makes no mention of anything done to the house since that time, I’m hopeful that the owners at least removed the avocado refrigerator and baths.

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Get ready for the next bankruptcy wave

A Goldman Sachs “Prime Property”

Just a few days ago the experts were rejoicing over new home construction starts in June finally reaching October, 2008 levels.  Never mind that October 2008 was a terrible time for house builders, the ensuing Obummer years made that period look like the golden age.

From areas like Phoenix that are finally arising from the housing bust to Chicago and Minneapolis, where strong economies have lifted demand, the outlook for home building looks healthier than at any time since sales and prices collapsed in 2007.

“We’ve been hoping for this for a long time,” said Celia Chen, a housing economist at Moody’s Analytics. “It looks like things are turning.”

Over at Bloget’s pump and dump site, his own writers were equally ecstatic:

Housing starts surged to 760K in June.

That’s well ahead of expectations of 745K.

And the previous month was revised higher to 711K.

There’s less and less question that housing his [sic] hot.

What the experts forgot, alas, was that it’s not enough to build homes, you have to sell them too, and that, “unexpectedly” proved hard to do last month.

New single-family home sales decreased by 8.4% from May to a seasonally adjusted annual rate of 350,000, the Commerce Department said Wednesday. June’s sales were the lowest since January but were up 15.1% compared to the same month a year ago.

Results were lower than expected. Economists surveyed by Dow Jones Newswires had forecast an annual rate of 375,000, which would have been a 1.6% gain over the figure previously reported for May.

Hmm. 760,000 houses started, 350,000 sold – not a ratio that would lead most people to predict good things, unless you’re Goldman Sachs and you’ve got some cheap housing stocks you need to unload.

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Why rush?

No jobs here!

After 30 years of sitting vacant, plans were (again) announced for the redevelopment of the derelict former Carpenter Steel plant in Bridgeport. Trouble is, the EEOC is suing the proposed new main tenant, Pro Bass Shops, for discrimination in hiring, and Bridgeport civil rights activists are up in arms.

“My first reaction was surprise that they got that far in the negotiations in the city of Bridgeport, which is a minority-majority city,” said Adrienne Houel, who heads The Green Team, a nonprofit organization in Bridgeport. “That’s not a good start.”

The Green Team creates environmentally friendly businesses and recruits low-income residents to work for them.

How’s that job creation going for “the Green team”? “The city had an unemployment rate of 12.6 percent in June, compared with 8.4 percent for the state as a whole, according to the state’s Department of Labor.”

I know nothing about the particulars of the EEOC’s suit, although it occurs to me that a store like Bass probably wants salespeople who, you know, actually know something about hunting and fishing and while there are plenty of avid hunters and fishermen in our minority communities, few of them live in inner cities. Regardless, I’d think that any development after thirty years is better than none. Jobs tend to create more jobs whereas vacant acreage does not – not in thirty years, anyway.

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Claw(s) back?

Jamie Dimon wants his money

Could be a Wall Street story, I suppose. Man returns 17-pound lobster to the sea.

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Under-the-covers work

As the name says …

New Britain: Police Captain used local hot sheets motel while on duty. Came repeatedly, it’s alleged.

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Traders bemoan loss of income, Greenwich home sellers bemoan loss of traders

Off to open a tea shoppe

Breaking news: things aren’t going so well down in the canyons.

Wall Street set pay and profit records half a decade ago by wagering billions of borrowed dollars on lightly regulated products that didn’t exist a generation earlier. The excitement and rewards that swelled even after the financial system almost collapsed in 2008 have been replaced by restrictions and malaise, according to interviews with more than two dozen current and former bankers and traders.

Banks face new restrictions designed to prevent another global credit crisis. Limits on proprietary trading, or bets with firms’ own money, and rules requiring them to hold more capital make it more difficult to use borrowed funds to boost returns. As the European sovereign-debt crisis escalates and economic growth in the U.S. and China slows, clients are refraining from the deals that power Wall Street profit.

“There’s no sexiness, there’s no fun, there’s no intellectual intrigue, either,” said Ethan Garber, who ran proprietary credit-arbitrage portfolios for Credit Suisse Group AG and Bear Stearns Cos.

“A lot of my friends who actually lingered for the last four years are all now getting fired anyway,” said Garber, 45, currently CEO of IdleAir, a Knoxville, Tennessee-based firm that provides electricity at truck stops. “The air is taken out.”

Risk is what drew George and the colleagues he respects to Wall Street, he said. He could bring in millions of dollars in a single month at his peak, and trading was so intense that during one credit-default-swap deal he smashed a phone against his desk, sending part of it three rows away, “one of the records for the best break,” he said.

Sam Polk, 32, who traded credit derivatives at Bank of America and the New York-based hedge fund King Street Capital Management LP, described the lure of Wall Street before he walked away in 2010.

“You could be a 20-something trader three years out of school, able to go to any restaurant or club or ballgame on any night that you wanted, and it was totally paid for,” he said. “It was a tremendous feeling of power.”

Risk, power, reward – take those away and the testosterone bleeds out of an industry. I don’t know where these guys will go next but watch for the feminization of Wall Street, where the ladies will fill the vacuum and play by neat, orderly rules for far less money. The Fountain rule again: men leave dying industries and professions, leaving a vacant playing field for women, and pay goes down.

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Alarming news, for goats

 

Goat hugger

“Goat Man” revealed to be a hunter preparing for the season and not a misguided goat lover. Fun story while it lasted.

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Or on her fat ass

Bottom story of the day: Lesson from Oprah: you can’t rest on your laurels.

In fact, the lady’s real problem seems to come from the fact that after politicizing her show by endorsing Obama, Michelle O banned her from the White House because of her size and her friendship with Barry.

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I thought it was because he reneged on his promise to pay our mortgages

“What’s 15% unemployment got to do with it?”

Virginia politician: Romney’s whupping Barry’s ass because of white racism.

“Mitt Romney, he’s speaking to … a segment of the population who does not like to see people other than a white man in the White House or in any other elective position,” Lucas said Tuesday. “Let’s be real clear about it — Mitt Romney is speaking to a group of people out there who don’t like folks like President Barack Obama in any elective or leadership position. We know what’s going on here. And some people may be afraid to say it, but I’m not. … He’s speaking to that fringe out there who do not want to see anybody but a white person in a leadership position.”

Lucas is a member of Obama’s “Truth Team,” speaking on the president’s behalf on various campaign issues in Virginia.

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