Seattle Bubble

Here’s a thread to discuss some of the not-so-great big news that has come out recently for the Seattle-area’s two biggest private employers.
Boeing:

Loses out on $40 billion Air Force tanker contract

Microsoft:

Facing class-action lawsuit for Vista hardware requirements
Cutting boxed Vista prices (possibly due to disappointing sales?)
Still trying to buy Yahoo!

Not exactly a heaping helping of good [...]

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It seems to be a foregone conclusion lately that the US is currently entering recession. Of course, much like the housing market, the some aspects of the economy are local, so we can’t assume that what’s going on nationwide will necessarily hit us here. Following are a couple of articles from the last [...]

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The still-tightening market for financing real estate is not only taking a bite out of individuals’ ability to buy homes. It’s also starting to affect the ability of large new construction projects to get financing to even begin building. New projects like a waterfront condo complex in Everett.
The start of condominium construction on [...]

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Here’s a quote that caught my attention in today’s headline P-I article: Boeing bosses spy on workers.
“It’s not quite indentured servitude, because you can quit, but when you look at the mortgages and car payments, especially in Seattle, you’re not exactly free,” said the surveilled former employee.
Real estate salespeople are always talking about the “intangible” [...]

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Better be careful the next time you drive through Everett, you’re likely to get burned, the condo market there is so hot!
On paper at least, downtown Everett is poised for explosive growth.
Nearly 800 new downtown condos and apartments are in various stages of planning.
There’s a good chance some of the projects scattered across a dozen [...]

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Dow, Nasdaq, S&P500Click to enlarge

Microsoft & BoeingClick to enlarge
Update: By request, here is a graph of today’s stock performance for a handful of other locally-based companies.
Other Seattle-Area CompaniesClick to enlarge
For those of you keeping score at home:

Boeing: -1.95%
Microsoft: -4.12%
Amazon: -5.00%
Starbucks: -3.94%
Nordstrom: -7.59%
Costco: -3.48%
Washington Mutual: -2.25%

Some immunity.

Seattle Bubble Tip Jar

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